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 November 18, 2016 to November 24, 2016:
- We Are Being Set Up For Higher Interest Rates, A Major Recession And A Giant Stock Market Crash
Since Donald Trump’s victory on election night we have seen the worst bond crash in 15 years. Global bond investors have seen trillions of dollars of wealth wiped out since November 8th, and analysts are warning of another tough week ahead. The general consensus in the investing community is that a Trump administration will mean much higher inflation, and as a result investors are already starting to demand higher interest rates. Unfortunately for all of us, history has shown that higher interest rates always cause an economic slowdown. And this makes perfect sense, because economic activity naturally slows down when it becomes more expensive to borrow money. The Obama administration had already set up the next president for a major recession anyway, but now this bond crash threatens to bring it on sooner rather than later.
- John Bolton Warns That Obama May Divide The Land Of Israel At The UN Before The Inauguration
Is Barack Obama about to make the most catastrophic decision of his entire presidency? Former UN Ambassador John Bolton is warning that there is “a lot of speculation” over at UN headquarters right now about “resolutions that recognize a Palestinian state or that try and set a boundary for Israel based on the 1967 ceasefire lines”. Of course this would have to happen before the inauguration of Donald Trump on January 20th, because Trump has already made it quite clear that he will not support any UN resolution of such nature. Knowing that Trump is about to take office, advocates of the “two state solution” are putting an immense amount of pressure on Obama to support a UN Security Council resolution that would permanently divide the land of Israel while he is still in the White House, and at this moment we do not know what Barack Obama’s final decision will be.
- US Pension Crisis: This is How Families Get Squeezed to Bail Out Pension Funds in Chicago
Chicago is another trailblazer. But it’s not alone. Other cities are lining up behind it. Bankruptcy may still be the route to go. But until then, homeowners, renters, drivers, users of phones, etc. – in other words regular families who’re just sitting ducks – are going to get squeezed dry, in order to slow the momentum of the public-employee pension crisis eating up the city’s and the school district’s finances. “Because of a new accounting rule, Chicago now has to report its pension debt on its balance sheet,” explains Truth in Accounting. “As a result, the city’s reported pension debt grew from $8.6 billion in 2014 to $33.8 billion in 2015.”
- What’ll Happen to Housing Bubble 2 as Mortgage Rates Jump?
In the few days since the election, we got a flavor of what might happen when the bond market sees hues of inflation, expects the Fed to respond, and suddenly (after years of closing its eyes to it) dreads a tsunami of government deficit spending, on top of the flood of deficit spending already washing over the land. The US government borrowed on average $850 billion per year over the last two fiscal years, in total $1.71 trillion. Very soon, the gross national debt will hit $20 trillion. And with a little help from the next administration’s plans, the annual new debt to be issued by the US government could balloon far beyond $1 trillion a year.
- Who’ll Get Hit by Fallout from the $11-Trillion Commercial Property Bubble in the US?
Warnings about the loans, bonds, and commercial-mortgage-backed securities (CMBS) tied to the vast $11-trillion commercial property sector in the US have been hailing down for months. Moody’s Investor Services just warned about the rising delinquency rate of some $360 billion in CMBS it rates. Delinquencies of 60+ days jumped from 4.6% last year to 5.6% in September. Fitch Ratings has been fretting about valuations in the sector, and CMBS, for months. “Valuation and lending trends are not sustainable in the medium term,” it said most recently in its November report. It pinpointed debt backed by apartment buildings as a particular trouble spot. But now it’s also fretting about construction loans, which “experienced the highest loss severity in the last crisis, and we expect a similar trend in the next downturn,” it said.
- Jim Rickards Discusses Looming Shut Down of the Entire US Economy
In the following interview, legendary investor Jim Rickards echoes almost verbatim what Peter Schiff and Michael Snyder said recently in a post titled, Peter Schiff: Making America Great Again Will Be Much Harder Than Voters Think. In just a few short minutes, Jim confirms what myself and so many others have been trying to warn our readers about for well over a year now, which is that collapse of the global economic system is imminent. To put things in perspective, consider the fact that Deutsche Bank's derivative exposure alone, is more than 3x the continent of Europe's annual GDP, and that's just one bank.
- Now it Begins to Unravel – The Credit Bubble Peak was Marked by “Totally Crazy Lending.”
Debt is good. More debt is better. Funding consumer spending with debt is even better – that’s what economists have been preaching – because the consumed goods and services are gone after having been added to GDP, while the debt, which GDP ignores, remains until it is paid off with future earnings, or until it blows up. Corporations too have gone on a borrowing binge. Unlike consumers, they have no intention of paying off their debts. They issue new debt and use the proceeds to pay off maturing debts. Funding share-buybacks and dividends with debt is ideal. It’s called “unlocking value.” Debt must always grow. For that purpose, the Fed has manipulated interest rates to rock bottom. Actually paying off and reducing debt has the dreadful moniker, bandied about during the Financial Crisis, “deleveraging.” It’s synonymous with “The End of the World.”
- 2017 Predictions for MSM, Markets and Gold-Gerald Celente
Top trends researcher Gerald Celente started forecasting back in May 2016 that Trump would win. He was spot-on. What are the big trends and predictions in store for 2017? Mr. Celente gives us three of his top predictions coming up in this interview. We start with the mainstream media (MSM) that went all in for Hillary Clinton with actions associated with propaganda and not news. What’s going to happen to the MSM in 2017? Celente, who is Publisher of The Trends Journal, says, “It’s gone, and that is the top story coming out in the next Trends Journal too. . . . We are forecasting that this is the end of daily newspapers. They’ll go down to a couple of days a week. The flipside is more people to USAWatchdog.com and other media. We are not alternative media. They are the alternative media. They are the media that only promotes the establishment. The establishment is Hollywood to the White House to the media, and the people are disgusted with it. This is bigger than a populist movement.”
- Self-driving car startup nuTonomy will begin testing its cars in Boston soon
NuTonomy, a self-driving car startup spun out of MIT and based in Cambridge, Mass., will soon begin testing its autonomous vehicles in Boston. The company, which launched a commercial self-driving pilot in Singapore in August, has been given permission to operate its vehicles in the city’s Raymond L. Flynn Marine Park. NuTonomy, which also recently forged a partnership with Southeast Asia’s homegrown ride-hail player Grab, is moving relatively quickly toward its goal of launching a full-fledged on-demand network of self-driving cars in Singapore by 2018. (We rode in the self-driving car that is now operating in Singapore’s business district.)
- FOMC Minutes Confirm Rate Hike Imminent “To Preserve Credibility”
A lot has changed since the November 2nd FOMC statement – most notably the world has suddently become awesome again. The relatively benign statement (and election result) has left rate-hike odds at 100% for December but comment from Fischer and Yellen since have hinted concerns at the need for Trump fiscal spendfest. The main risk going in to the minutes was a dovish tilt for the future, tamping the current ‘nothing can stop us now' attitude (and we note the dollar leaked lower into the release). But sure enough, The Fed confirmed a rate-hike was approrpoate “relatively soon” and was “important to Fed credibility.”
- Dallas Mayor Admits Police Pension Pushing City Toward “Fan Blades Of Municipal Bankruptcy”
A few months ago we wrote that the Dallas Police and Fire Pension Fund was on the verge of collapse after a series of shady real estate investments resulted in massive markdowns of pension assets, the ouster of the fund's CIO and an FBI raid of it's largest real estate investment manager (see “Dallas Cops' Pension Fund Nears Insolvency In Wake Of Shady Real Estate Deals, FBI Raid”). We summed up the fund's dilemma as follows: ‘The Dallas Police & Fire Pension (DPFP), which covers nearly 10,000 police and firefighters, is on the verge of collapse as its board and the City of Dallas struggle to pitch benefit cuts to save the plan from complete failure. According the the National Real Estate Investor, DPFP was once applauded for it's “diverse investment portfolio” but turns out it may have all been a fraud as the pension's former real estate investment manager, CDK Realty Advisors, was raided by the FBI in April 2016 and the fund was subsequently forced to mark down their entire real estate book by 32%. Guess it's pretty easy to generate good returns if you manage a book of illiquid assets that can be marked at your “discretion”.'
- Obama Says He's Had A Scandal-Free Administration. Here Are 11 of His Scandals.
President Barack Obama—who isn't going away after he leaves office—just unleashed this massive whopper: “I'm extremely proud of the fact that over 8 years we have not had the kinds of scandals that have plagued other administrations.” This is demonstrably false. Obama's presidency has been mired with numerous scandals that would be blared on the news 24/7 if he were a Republican. But because he's a Democrat, too many people buy Obama's argument that his presidency has been scandal-free.
- Goldman Sachs Drops Out of R3 Blockchain Group
Goldman Sachs Group Inc. has dropped out of the R3 CEV LLC blockchain group. The investment bank was one of nine original members of R3, founded in 2014 to explore the use of the distributed database technology in Wall Street infrastructure. The technology, best known for underpinning the system that trades the virtual currency bitcoin, has garnered increasing attention as a way banks can save billions of dollars and make old-fashioned processes faster and more efficient. But not all blockchain firms are the same, with different banks backing different ventures to exploit the technology. As of Oct. 31, Goldman let its membership lapse in R3, one of the higher profile efforts, but the firm will continue to work with blockchain technology, a spokeswoman for the investment bank said.
- The Big Short: is the next financial crisis on its way?
In the Oscar-winning The Big Short, Steve Carell plays the angry Wall Street outsider who predicts (and hugely profits from) the great financial crash of 2007-08. He sees sub-prime mortgages rated triple-A but which, in reality, are junk – and bets billions against the banks holding them. In real life he is Steve Eisman, he is still on Wall Street, and he is still shorting stocks he thinks are going to plummet. And while he’s tight-lipped about which ones (unless you have $1m to spare for him to manage) it is evident he has one major target in mind: continental Europe’s banks – and Italy’s are probably the worst. Why Italy? Because, he says, the banks there are stuffed with “non-performing loans” (NPLs). That’s jargon for loans handed out to companies and households where the borrower has fallen behind with repayments, or is barely paying at all. But the Italian banks have not written off these loans as duds, he says. Instead, billions upon billions are still on the books, written down as worth about 45% to 50% of their original value.
- Initial Jobless Claims Collapse To Lowest In 43 Years – The US Economy Fell Into Recession Immediately After
After an ugly October, November has seen two straight weeks of improvements in initial jobless claims (plunging 11.6%, 31k – the most since Jan 2015 – to 235k). This is the lowest initial jobless claims since Nov 1973… The US Economy fell into recession the next month.
- UN recommits to combating climate change
Approximately 200 nations on Thursday reaffirmed their commitment to combating climate change enshrined by the Paris Agreement at the annual UN climate conference in Morocco.
This came amid fears that the incoming US administration would backtrack on the deal. A “Marrakesh Action Proclamation” issued at the conference called on member states to boost funding for projects to cope with the effects of climate change. “We call for the highest political commitment to combat climate change, as a matter of urgent priority,” the statement read.
- Cash Crisis in India Hitting Gold Sales Hard
The domestic gold market in India is facing an upheaval as traders place an increasing number of bulk, short-term orders on fears Prime Minister Narendra Modi could seriously throttle overseas imports of gold. The traders’ fears stem from Modi’s plan to eliminate so-called black money from India’s monetary system by demonetizing the 500 and 1,000 rupee notes. The bills were previously the country’s largest currency denomination. Modi’s hard-line demonetization efforts are meant to root out untaxed funds held in secret by Indian citizens. It’s estimated up to a third of the country’s annual demand (1,000 tons of gold) is paid for with black money. The intent of demonetization was to cut down on corruption by targeting Indians holding “large amounts of undeclared wealth to deposit the money at banks and make their assets official,” according to the L.A. Times.
- U.S. economy is running below potential, Chicago Fed gauge shows
A measure of national economic activity improved in October but its less-volatile, three-month average weakened, according to the Chicago Federal Reserve on Monday — one sign that below-potential economic growth could limit Fed aggressiveness with interest-rate hikes. The Chicago Fed national activity index rose to negative 0.08 in October from negative 0.23 in September as factory production, housing and consumer spending, as well as the business orders that make up the index mostly improved; employment had a neutral effect. The October reading still shows U.S. economic growth running below its potential.
- The “Trump Effect” Now Versus Later
Peter Schiff recently appeared on Alternative Media Television (AMTV) to discuss the so-called “Trump effect” on the US economy. So far, the stock market has gone through some downs after the president-elect’s surprise win and now back up with the Dow Jones average nearing record highs. There’s also been last week’s bond rout, which sent long-term yields soaring as bond prices dropped. The yield on the 10-Year Treasury saw its largest two-week increase since 2001, up 5.9 basis points to 2.337%. The selloff was driven by “rising inflation expectations and the market’s near-certainty that the Federal Reserve will raise interest rates in December,” according to MarketWatch.
- Trump Says He Will Issue Executive Order On First Day In Office Withdrawing U.S. From TPP
In a video message released moments ago by Donald Trump, the President-Elect announced that he has asked his team to develop a list of executive actions for his first day as president and announced that he would issue an executive order on his first day of office, withdrawing the US from the Trans Pacific Partnership, and would issue a notification of intent to withdraw from the TPP, voiding Obama's “free-trade legacy.” Trump stated that his agenda “will be based on a simple core principle, putting America first… whether it's producing steel, building cars, or curing disease, I want the next generation of production and innovation to happen right her on our great homeland.” He added that he would issue a rule, along the lines of what he proposed during his Gettysburg address, that for every new government regulation, two existing regulations must be eliminated, and said that he will direct the labor department to investigate abuses of visa programs.
- Former CEO Of UBS And Credit Suisse: “Central Banks Are Past The Point Of No Return, It Will All End In A Crash”
Remember when bashing central banks and predicting financial collapse as a result of monetary manipulation and intervention was considered “fake news” within the “serious” financial community, disseminated by fringe blogs? Good times. In an interview with Swiss Sonntags Blick titled appropriately enough “A Recession Is Sometimes Necessary”, the former CEO of UBS and Credit Suisse, Oswald Grübel, lashed out by criticizing the growing strength of central banks and their ‘supremacy over the markets and other banks’. The former chief executive officer claimed that the use of negative interest rates and huge positive balance sheets represent ‘weapons of mass destruction’. He calls for an end to the use of negative interest rates.
- ‘First Brexit, Then Trump and There is More of This to Come!'
Hailing 2016 the year of ‘two big political revolutions’ Nigel Farage said Angela Merkel and Barack Obama are ‘in denial’ over the public’s rejection of the political establishment. Speaking on Fox News, the UKIP leader said Obama and the German Chancellor ‘simply can’t face up to the fact that their worldview has taken an absolute beating in the year of 2016′. He has taken to social media to call 2016 ‘the year of political revolution’ and the ‘underdog’ with the Brexit vote in the UK and the election of Donald Trump in America.
- Smoking gun emails reveal Blair's ‘deal in blood' with George Bush over Iraq war was forged a YEAR before the invasion had even started
A bombshell White House memo has revealed for the first time details of the ‘deal in blood’ forged by Tony Blair and George Bush over the Iraq War. The sensational leak shows that Blair had given an unqualified pledge to sign up to the conflict a year before the invasion started. It flies in the face of the Prime Minister’s public claims at the time that he was seeking a diplomatic solution to the crisis. He told voters: ‘We’re not proposing military action’ – in direct contrast to what the secret email now reveals.
- The 1% plotting to halt Brexit & bring back Tony Blair, leaked memo suggests
Blairite millionaires, politicians and media tycoons are reportedly plotting to stop Brexit in its tracks, a leaked memo suggests. Virgin Group chief Sir Richard Branson is apparently bankrolling the scheme. A memo leaked to the Independent suggests the plot has been underway for months, with financial backing secured and a potential CEO for the group identified. The newspaper claims the information was found in an email penned by Tony Blair’s former health secretary and right-hand man Alan Milburn.
- Blair is back! Former PM announces he is ‘returning to British politics' because the Tories are ‘screwing up Brexit and Jeremy Corbyn is a nutter' as he prepares to meet with Theresa May
Tony Blair is hunting for a new office near Westminster as he plots a return to frontline politics to influence the Government's approach to Brexit. The former prime minister believes the Tories are ‘screwing up Brexit' and views Jeremy Corbyn is ‘a nutter,' according to a source who has spoken to Mr Blair. He thinks there's a ‘massive hole in British politics' that he can fill. Mr Blair is setting up a new institute that will seek to influence and advise the Brexit process.
- This Is Where I Get Off
We began writing on the War on Cash some time ago, when it was still just a theoretical ploy that we believed banks and governments were likely to employ as their economic adventurism continued to unravel. But, in the last year, several countries have, as a part of the War on Cash, begun removing larger bank notes from circulation in order to force people to perform all economic transactions through the banking system, ensuring that the banks would gain total control over the movement of money. Of course, the banks could not admit their true goal to the public. They instead used the governments to claim that the measure was being undertaken to restrict crime (money laundering, drug deals, black marketing, terrorism, etc.).
- $100 Billion Chinese-Made City Near Singapore ‘Scares the Hell Out of Everybody'
The landscaped lawns and flowering shrubs of Country Garden Holdings Co.’s huge property showroom in southern Malaysia end abruptly at a small wire fence. Beyond, a desert of dirt stretches into the distance, filled with cranes and piling towers that the Chinese developer is using to build a $100 billion city in the sea. While Chinese home buyers have sent prices soaring from Vancouver to Sydney, in this corner of Southeast Asia it’s China’s developers that are swamping the market, pushing prices lower with a glut of hundreds of thousands of new homes. They’re betting that the city of Johor Bahru, bordering Singapore, will eventually become the next Shenzhen.
- Morocco wants to build a new city from scratch—with China’s help
Morocco is working on a $10 billion project with the Chinese group Haite to develop an industrial city that will host some 300,000 locals. The project envisions a large Chinese-style industrial park on the edge of the Mediterranean, built on about 2,500 acres with room to expand up to nearly 5,000 acres. Morocco’s King Mohammed VI has been personally involved in the improvement in Moroccan-Chinese ties that preceded the deal. The King met with president Xi of China during an official visit to Beijing this year, which led to the signing of a strategic partnership.
- Soros Army Forming Liberal Version Of Judicial Watch
The latest efforts by George Soros to subvert President-elect Donald Trump involve taking a page out of the conservative playbook. Soros and his allies have reportedly discussed launching a liberal version of the government transparency group Judicial Watch, which Politico reports “spent much of the past eight years as a thorn in the Obama administration’s side filing legal petitions under the Freedom of Information Act.”
- Obama and Angela Merkel Blame Internet and Social Media for Disrupting Globalism
President Barack Obama and German Chancellor Angela Merkel are blaming the internet for disrupting the forces of globalism, suggesting that technology is making it more difficult to unite people behind a common purpose. “Because of the internet and communications, the clash of cultures is much more direct,” Obama said during a press conference on his trip to Berlin. “People feel, I think, less certain about their identity. Less certain about economic security.”
- REVEALED: The Real Fake News List
We've seen the make-shift “fake news” list created by a leftist feminist professor. Well, another fake news list has been revealed and this one holds a lot more water. This list contains the culprits who told us that Iraq had weapons of mass destruction and lied us into multiple bogus wars. These are the news sources that told us “if you like your doctor, you can keep your doctor.” They told us that Hillary Clinton had a 98% of winning the election. They tell us in a never-ending loop that “The economy is in great shape!”
- Are You Prepared For The Unwinding Of The Biggest Bubble In History?
With the Thanksgiving Day holiday on Thursday of this week, are you prepared for the unwinding of the biggest bubble in history? Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness: I want to start the week by saying I believe ‘secular stagnation’ is bulls**t. As a believer in free trade and comparative advantage and thus with hopes that no trade battles take place in the next 4 years, I want to reiterate my optimism over the potential liberation of the US economy via lower and more competitive tax rates and an easing of the regulatory strait jacket all around the economy. This said, before we get to that economically better place (which we no doubt will I believe) I can’t help but be on alert about what the implications are of an unwinding of the biggest bubble ever created, that of credit via the helping hands of our central bankers…
- EURO PLUNGE: Single currency could ‘COLLAPSE' against dollar amid record losing streak
THE euro has plunged to its lowest level against the dollar since December 2015, as experts warned the currency could collapse next week amid concerns for the eurozone economy. Investors have frantically dumped the single currency over 10 consecutive trading sessions – the worst performance since the euro was introduced in 1999. Head of the European Central Bank (ECB) Mario Draghi failed to ease fears after warning that the eurozone recovery depends on action by monetary policymakers.
- So Much For Electing An Outsider
During his run for the presidency, Donald Trump took the occasional break from insulting women and minorities to toss off some decent – even exciting – policy ideas. Term limits for congressmen and a ban on politicians becoming lobbyists, for instance, were straight from the Libertarian good-government Christmas list. But best of all was the effective break-up of the big banks through the re-imposition of Glass-Steagall, a law passed during the Great Depression to separate taxpayer-protected commercial banks from free-to-fail investment banks.
- Russia Deploys Nuclear Missiles In Retaliation To NATO “Threats”
While the detente between Russia and US president-elect Donald Trump could not have come at a more tense time, the Kremlin appears to be accelerating its head-on collision course with NATO, and as a highly placed defense official said on Monday, Moscow will deploy S-400 surface-to-air missiles and nuclear-capable Iskander systems in the exclave of Kaliningrad in retaliation for NATO deployments, confirming previous media reports of Russian intentions to once again blanket central Europe with potential nuclear ICBM coverage. While Russia has previously said it periodically sends Iskanders to Kaliningrad, until now it has always said these were routine drills. Moscow has not linked the moves explicitly with what it says is a NATO military build-up on Russia's western borders.
- Border Patrol union welcomes Trump's wall as ‘vital tool'
The National Border Patrol Council has high hopes for President-elect Trump’s border security policies. The union’s president, Brandon Judd, has been advising the Trump transition team. The union has encouraged the building of a border wall and changing enforcement policies put in place in the past four years. San Diego-based Shawn Moran, vice president of the union, said a wall on the border would be a “vital tool,” and it’s difficult to say exactly where along the border a wall is needed.
- More Electors Get Death Threats From Hillary Voters
A member of the electoral commission in Texas says his colleagues are getting death threats as angry Hillary supporters ramp up the pressure before electors cast their vote on December 19th. Hillary voters around the country are bombarding electors with emails, some of them threatening, in an effort to force them to vote against the outcome of the presidential election. “At first everyone was kinda enchanted by it. Now all the electors are starting to get beaten down. There are some electors who have been threatened with harm or with death,” Texas elector Alex Kim told NBC 5.
- European Union Orders British Press Not To Report when Terrorists Are Muslims
This is the moment where hate speech laws become a greater threat to democracy and freedom of speech than hate speech itself. In France, Muslim terrorists are never Muslim terrorists, but “lunatics,” “maniacs” and “youths”. To attack freedom of the press and freedom of speech is not anti-hate speech; it is submission. By following these recommendations, the British government would place Muslim organizations in a kind of monopoly position: they would become the only source of information about themselves. It is the perfect totalitarian information order. Created to guard against the kind of xenophobic and anti-Semitic propaganda that gave rise to the Holocaust, national hate speech laws have increasingly been invoked to criminalize speech that is merely deemed insulting to one's race, ethnicity, religion, or nationality. It is disturbing to wonder how long the EU will strongly engage its experts and influence to cut through existing legal obstacles, in a quest to criminalize any type of criticism of Islam, and to submit to the values of jihad.
- Trump Announces Policy Plans
President-elect Donald J. Trump vowed in a YouTube video to focus on creating jobs and reducing regulations as soon as he takes office.
- Jeff Sessions may prosecute ‘sanctuary cities’ if confirmed as attorney general
Sen. Jeff Sessions is on record saying so-called “sanctuary cities” that protect illegal immigrants should be prosecuted. He himself may get that chance next year. Mr. Sessions is president-elect Donald Trump’s pick to be the next attorney general, and if he’s confirmed, he will mark a 180-degree turn from the Obama administration on a host of issues, but nowhere more so than on immigration, where he’s been the Senate’s leading crackdown proponent.
- US Bond Market Liquidity Collapses: “It's Worse Than Brexit”
Two weeks ago we warned of the “unintended consequences” of Dodd-Frank which are likely to crush bond market liquidity. On the day of Brexit we got a glimpse of what can happen when the world's most liquid bond market suddenly isn't and as one veteran bond trader exclaimed today, US Treasury market liquidity is “worse than Brexit.” Following the worst two-week loss for bonds… ever…
- San Fran Home Sales Crash To Lowest Level Since 2008 As Pricing Reset Gets Underway
We have frequently written over the past couple of quarters about the bubbly San Francisco housing market that looks set for another epic reversal as home prices have reached staggering new highs just as employment levels seem to be rolling over. With home prices now implying that only 10-20% of residents can afford the “median” priced home, it's certainly not difficult to understand why demand may be waning. According to HousingWire and a new report from PropertyRadar, home sales in the Bay Area are finally starting to rollover with Q3 YTD volumes down 10.3% YoY, reflecting the fewest number of homes sold over that same time period since 2008. Perhaps even more staggering is that distressed property sales fell 35.7% YoY so far in 2016, to the lowest level since 2001, as “low-priced” inventory dried up and buyers have found it financially impossible to move up to higher price tiers.
- Demonetisation: Govt mulls limits on cash withdrawals, transactions for both individuals, companies
In the government's determined push against the parallel economy, the next step after the disruptive overnight ban on high value notes could be a cap on cash withdrawal, transactions and amounts that can be held by individuals and companies, people in the know said. Recently some senior tax officials and experts were asked their opinion about such a step. The senior government officials seeking feedback or opinion on the issue is one of the main reasons why industry trackers say that such a step could be in the offing, said two people who spoke to ET.
- EU Army set to be agreed TODAY – and BRITAIN will foot the £420m-a-year bill
THE EU will today ratify the creation of a continent wide super army that will be up and running next year – and blame BREXIT for its creation. Brussels politicians convened in the French city of Strasbourg to thrash out the plans that will cost taxpayers' £420m-a-year. They will vote on the issue to establish an “EU-wide system for the coordination of rapid movement of defence forces personnel” across Europe later today. If agreed Britain will not only be forced to foot the bill because it is timetabled for before the triggering of Article 50, but it will also be legally drawn into it.
- Sweden leads the race to become cashless society
In 1661, Stockholms Banco, the precursor to the Swedish central bank, issued Europe’s first banknotes, on thick watermarked paper bearing the bank’s seal and eight handwritten signatures. Last year – as Britain did last week – Sweden launched a new series of notes, cheery affairs featuring 20th-century Swedish cultural giants such as Astrid Lindgren, the creator of Pippi Longstocking, Greta Garbo and filmmaker Ingmar Bergman. But like its Nordic neighbours Norway, Denmark and Finland, Sweden is fast becoming an almost entirely cashless society.
- Citibank is the first Australian bank to stop taking cash
Up is down and down is up. We are now living in a bizarre era when a bank will refuse to take cash. Citibank Australia has become the first Australian bank to go completely cashless, notifying customers that its branches will no longer handle notes and coins from November 24. “We have seen a steady decline in the demand for cash services in our branches — in fact less than 4% of Citi customers have used this service in the last 12 months,” said Citibank head of retail bank Janine Copelin. “This move to cashless branches reflects Citi’s commitment to digital banking and we are investing in the channels our customers prefer to use.”
- Speculators Are Finally Bailing Out Of Gold – And That’s A Good Thing
All this talk of massive new infrastructure spending financed with a tsunami of freshly-minted currency should be lighting a fire under gold. That it hasn’t is a testament to how out-of-whack the precious metals market had gotten during the first six months of this year. As gold rose, the futures contract traders whose games tend to dictate near-term price action had set the metal up for a fall. Specifically, the speculators (who are always wrong at the extremes) were ridiculously long. With the suckers all-in, a big correction was needed to restore balance. But it didn’t come. Several months passed with gold treading water, leading some to wonder if the paper market tail had finally stopped wagging the physical market dog.
- Globalists Will Crash Markets and Blame it on Trump-Rob Kirby
Macroeconomic analyst Rob Kirby explains the violent moves in the markets by saying, “We really do not have markets anymore. We have interventions, and we have massive fraud committed on a daily basis in what we call our capital markets. Our capital markets have become nothing more than a crime scene.” Look no further than the gold market on election night. The stock market was 800 points down in the red, and gold was way up in the black. All that reversed in a matter of a few days. How did the powers pull off a stunning reversal, especially with the skyrocketing price of gold? Kirby says, “It was roughly 8,000 metric tons from late election night through Friday. It’s up in the area of three years of global production in the paper markets in the space of three days.”
- Trump won the popular vote?
Based on reports in mainstream media, Hillary Clinton won the popular vote for President. The facts, however, indicate otherwise. Before getting into that, we should consider why that is important. The answer is that most people think that whoever gets the most votes is supposed to be the winner. The Constitution, on the other hand, says otherwise. When the Constitution was written, it was understood that the federal government was beholden to the states that created it, not to the general citizenry. Voters chose their state representatives, but the states chose the Senators and the President.
- At This Current Pace, A Record-Shattering 2.4 Trillion Dollars Will Be Added To The National Debt This Year
Barack Obama is about to become the 20 trillion dollar man. With less than two months to go in his second term, the U.S. national debt stands less than 150 billion dollars away from the 20 trillion dollar mark. And at the pace that the debt is increasing, it seems almost certain that we will cross 20 trillion dollars before Inauguration Day. After promising us that “deficits are under control”, the federal debt jumped by more than 1.3 trillion dollars last fiscal year, and so far this year it is on pace to rise by a record-shattering 2.4 trillion dollars. This is a recipe for national suicide, and yet it wasn’t even a major issue during the recently concluded presidential campaign. It is really, really hard to spend a trillion dollars. For example, if you were alive when Jesus was born and you had spent a million dollars every single day since that time, you still would not have spent a trillion dollars by now (From year 0 to 2016 at $1m per day is just under $736Bn).
- Why We Are Still In ‘The Danger Zone’ Until January 20th, 2017
Donald Trump is not the president yet, and Barack Obama could still do an extraordinary amount of damage during his last two months in the White House. Prior to the election, I described the period of time ending on January 20th as “the danger zone”, and my outlook has not changed just because Donald Trump was victorious on election night. As you will see, the next two months are an absolutely critical time, and if we can get through January 20th without something major happening perhaps we can breathe a little bit easier (at least for a while). On the other hand, the events of the next two months could easily plunge this country into a period of unprecedented chaos. A lot of people are feeling really good about things right now because of Trump’s victory, but now is definitely not a time to relax and let down our guard.
- The Drought That Was Prophesied To Hit The Southern United States Is Now Here
A record-setting drought has gripped the southern United States, but most people have no idea that this drought is the fulfillment of a prophecy that was given four years ago. Back in 2008, John Paul Jackson released a DVD entitled “The Perfect Storm” in which he detailed many of the prophetic events that God showed him would soon come to America. In 2012, he released a video update to “The Perfect Storm” that you can view on YouTube right here. In that update, he shared a list of future headlines that God had revealed to him over the years. Some of these headlines have already happened since that time, and now we are watching another be fulfilled right in front of our eyes. Specifically, I am referring to this headline: “Record High Temps Accompany Record Drought Swept South”.
- What Donald Trump Just Did Is Going To Have Social Conservatives In A State Of Complete Shock
This is NOT what most social conservatives were expecting. Like millions of other Americans, I greatly celebrated when Donald Trump pulled off a miracle on election night. But within a week of his stunning election victory, many social conservatives already feel like they are being stabbed in the back. On Sunday, 60 Minutes aired a post-election interview with Trump in which he explained that his stance on gay marriage is that it is “settled” and that he has no plans to try to overturn the Supreme Court decision legalizing it. According to CNN, this answer “could leave conservatives worried”…
- 11 Very Depressing Economic Realities That Donald Trump Will Inherit From Barack Obama
It would be a grave mistake to understate the amount of damage that has been done to the U.S. economy over the past eight years. In this article, I am going to share some economic numbers with you that are extremely sobering. Anyone that takes a cold, hard, honest look at the numbers should be able to see that our economy is in terrible shape. Unfortunately, the way that we see things is often clouded by our political views. Up until the election, Democrats were far more likely then Republicans to believe that the economy was improving, but now that is in the process of completely reversing. According to Gallup, only 16 percent of Republicans believed that the economy was getting better before the election, but that number has suddenly jumped to 49 percent after Trump’s election victory. And the percentage of Democrats that believe that the economy is getting better fell from 61 percent to 46 percent after the election.
- The Election Of Donald Trump Is Already Having An Enormous Impact On The Economy
The election of Donald Trump has sent shockwaves through the U.S. economy and the U.S. financial system. Since November 8th, the Dow has hit a brand new all-time record high, the U.S. dollar has strengthened greatly, and bank stocks are way up. But not all of the economic news is good news. Unlike stocks, bonds have reacted very negatively to Trump’s election victory. The past week has been an absolute bloodbath for bond traders, and as you will see below this is going to have dramatic implications for all U.S. consumers moving forward. Over just a two day period, more than a trillion dollars was wiped out as bond yields spiked all over the globe. As CNN has noted, this type of “violent reaction” in the bond market has only happened three other times within the past ten years…
- Britain has passed the ‘most extreme surveillance law ever passed in a democracy'
It's 2016 going on 1984. The UK has just passed a massive expansion in surveillance powers, which critics have called “terrifying” and “dangerous”. The new law, dubbed the “snoopers' charter”, was introduced by then-home secretary Theresa May in 2012, and took two attempts to get passed into law following breakdowns in the previous coalition government. Four years and a general election later — May is now prime minister — the bill was finalized and passed on Wednesday by both parliamentary houses. But civil liberties groups have long criticized the bill, with some arguing that the law will let the UK government “document everything we do online”.
- Ron Paul: Warning to Trump — “Shadow Government” Will Infiltrate Your Cabinet
Dr. Ron Paul appeared in an RT interview speaking about Donald Trump’s election. He made some curious statements about “neocons” and an infiltration by a “shadow government,” and her warned Trump about placing neoconservatives in his cabinet. Trump is currently considering neocons for at least 5 of his cabinet positions. Many of them have links to Wall Street, specifically Goldman Sachs, and almost all of them are members of the Council on Foreign Relations, whose honorary chairman is David Rockefeller.
- VW cuts 30,000 jobs in emission scandal fallout
Volkswagen (VW) is to cut its workforce by 30,000 over the next five years as it acts to save costs following the diesel emissions scandal. The German carmaker said it was committed to no compulsory redundancies under the union deal, with 23,000 of the positions to go at factories in its home market and the rest in North America and Brazil. VW said the job losses were “socially acceptable” as it prepared to relaunch the brand by 2020 – tainted by the rollout of software in 11 million diesel vehicles that was designed to cheat emission testing.
- Two-Thirds Of Workers In Developing Nations To Be Replaced by Robots, Report Warns
An alarming new report from the United Nations is the latest in a litany of studies suggesting that the coming age of automation and workforces dominated by robots will be upon us much faster than previously thought. The U.N. now claims two-thirds of the human labor force in developing nations will be replaced by automation. The U.N. says a Universal Basic Income will be necessary as a stop-gap for the 75% of humans left without work. Anti-Media previously reported on predictions that half the American workforce could be replaced by automation within the next two decades. Another report’s statistics suggested automated software could fleece 1.7 million truckers of their jobs within a decade. The U.N.’s UNCTAD report notes that taken on a global scale, we’re seeing“premature deindustrialization.”
- Silver Prices May Rise with Infrastructure Projects
The president of the United Auto Workers said he will sit down and talk with President-Elect Trump to try and crush the North American Free Trade Agreement, describing NAFTA was “a problem.” The union of auto workers is an early advocate for working with Trump to change trade agreements seen as being detrimental to American workers. Other industry organizations are likely to ally themselves with the future president, who made trade a cornerstone of his campaign promise to “Make America Great Again.”
- Chelsea Clinton reportedly being groomed for congressional run
Former first daughter Chelsea Clinton reportedly is being mooted as a future congressional candidate. The New York Post reported that Clinton, 36, is being eyed to take Rep. Nita Lowey's place when the 79-year-old incumbent decides to leave the House of Representatives. Lowey represents New York's 17th District, which covers part of Westchester County, including Bill and Hillary Clinton's hometown of Chappaqua. The Post reported that the Clintons have purchased the home next door to theirs, in which they plan to install Chelsea, her husband and their two children.
- Donald Trump Boosts Europe's Anti-Establishment Movement
Donald Trump's electoral victory has come as a shock to Europe's political and media establishment, which fears that the political sea change underway in the United States will energize populist parties in Europe. Anti-establishment politicians, many of whom are polling well in a number of upcoming European elections, are hoping Trump's rise will inspire European voters to turn out to vote for them in record numbers. Commenting on Trump's victory, Dutch lawmaker Geert Wilders, wrote: “America has just liberated itself from political correctness. The American people expressed their desire to remain a free and democratic people. Now it is time for Europe. We can and will do the same!”
- China fires its first warning shot, warning iPhone sales will suffer if Trump starts a trade war
Apple iPhones and other U.S. goods could suffer sales hits in China if President-elect Donald Trump goes through with his “naive” plan of slapping a large import tariff on Chinese products, a state-backed newspaper warned on Sunday. During his election campaign this year, Trump spoke of a 45 percent import tariff on all Chinese goods while failing to outline how it would work. Should any such policy come into effect, China will take a “tit-for-tat approach”, according to an opinion piece in the Global Times, a newspaper backed by the Communist party.
- Trump Prepares To Label Muslim Brotherhood A ‘Terror Organization’
Last November, Sen. Ted Cruz (R-TX) co-sponsored legislation along with Rep. Mario Diaz-Balart (R-Fla.) demanding that President Obama label the Muslim Brotherhood an official foreign terrorist organization. The Muslim Brotherhood Terrorist Designation Act prefaces its conclusions with comprehensive research and historical precedent. “Multiple countries have declared the Society of the Muslim Brothers (commonly known as the ‘‘Muslim Brotherhood’’) a terrorist organization or proscribed the group from operating in their countries,” begins the bill. The bill didn’t make it through the winding roads of bureaucracy as a result of the Obama administration’s apparent sympathies for the Islamist group, but now, President-elect Donald Trump’s advisors are vowing to push through that same piece of legislation when the Republican victor assumes the oath of office in January.
- As Venezuela's Currency Loses 40% In One Month, Maduro Dances
The last time we updated on the value – we use the term very loosely in this case – of the Venezuela currency, the Bolivar in the black market, was at the start of November, when one US dollar purchased 1,567 bolivars in the street. Fast forward not even two full weeks later, and the Venezuela currency has now officially crossed the “nice, round number” psychological hyperinflation barrier of 2,000/USD, trading at 2,014 today, crashing by 22% since our last check, and an vomit-inducing 43% in the past month. The exponentially-rising chart below shows what hyperinflation in a destroyed socialist economy looks like.
- Two-thirds of the world's internet users live under government censorship: report
Two-thirds of the world's internet users live under regimes of government censorship, according to a report released today. The report from Freedom House, a pro-democracy think tank, finds that internet freedom across the globe declined for a sixth consecutive year in 2016, as governments cracked down on social media services and messaging apps. The findings are based on an analysis of web freedom in 65 countries, covering 88 percent of the world's online population. Freedom House ranked China as the worst abuser of internet freedom for the second consecutive year, followed by Syria and Iran. (The report does not include North Korea.) Online freedom in the US increased slightly over the year due to the USA Freedom Act, which limits the bulk collection of metadata carried out by the National Security Agency (NSA) and other intelligence agencies.
- Online ‘Freedom' Plunges For 6th Straight Year As Social Media Censorship Grows
Internet freedom has declined for the sixth consecutive year, with more governments than ever before targeting social media and communication apps as a means of halting the rapid dissemination of information, particularly during anti-government protests. According to the latest Freedom on the Net reports, two-thirds of all internet users live in countries where criticism of the government, military, or ruling family are subject to censorship.
- All Eyes On Argentina As Lithium Boom Takes Shape
Lithium is poised to be the longest-running mining bull market of the century, and independent, junior minors like Millennial Lithium Corp. are having their stocks pushed higher and higher as this market gets ready to explode under a soaring demand and tight supply situation. The disruptive force of lithium in the energy market is unprecedented, with prices tripling this year and the fantastically tight supply prognoses promising explosive profits for new entrants. And the global ground zero is lithium-rich Argentina, where massive resources have combined with a new business-friendly political atmosphere to create a situation in which everyone is talking about a lithium cartel, and the rise of the next energy barons.
- China: Trump's First Crisis?
There is a growing possibility that China will be at the epicentre of President-elect Trump’s first crisis, triggered by concerns over the potential impact of protectionist measures on China’s trade surplus, which currently supports the increasingly fragile financing chains supporting corporate debt that the IMF estimates at around 155% of GDP. Trump’s pledges to impose tariffs of up to 45% on Chinese manufactured goods threatens to drive a significant uptick in the amount of capital flight from the renminbi, while the prospect of measures to change the US tax system to encourage companies to repatriate cash to the are already pulling the dollar higher. At this point the likelihood of Trump actually delivering on his protectionist rhetoric is secondary to the psychological impact on resident corporate and household savers of any potential threat to the current uneasy equilibrium within the Chinese economy.
- Wall Or No Wall: Trump Needs The Mexican Oil Industry
Two of Donald Trump’s main pledges during the presidential race were building a wall along the border with Mexico, and making the U.S. energy-independent. Now that the election is over, these issues are coming to the fore. First, the president-elect said that the wall, which he mentioned on the campaign trail and in numerous debates, is still very much on the table, though what type of “wall” that may be is an unknow. Second, he said he planned to start deporting illegal aliens—those with criminal records—which could amount to as many as three million individuals. Despite “The Wall”, the deportation of Mexican citizens, and several grandiose comments about Mexico paying for said wall—not to mention Trump’s proclamation that he would raise import tariffs up to 35 percent on some Mexican products—Mexico’s President Enrique Pena Nieto was among the first of the world leaders to congratulate Trump on his victory.
- Pastor Lindsey Williams introduces Pastor David Bowen – November 17, 2016
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
- Will Your Energy Bill Get More Or Less Expensive Under Pres. Trump?
Environmentalists are panicking that President-elect Donald Trump will trigger an energy jobs disaster by cutting green subsidies, but David Holt, president of the Consumer Energy Alliance, thinks exactly the opposite. Green media is positively panicking that Trump’s cuts could literally end all life on Earth and cause a hypothetical jobs crisis by destroying the green energy industry. Conversely, Trump appears to be very supportive of industries that slash carbon dioxide (CO2) emissions while creating jobs.
- Will Trump Do What Reagan Couldn’t?
Finally, it’s over. We were both delighted and appalled by the news. A smile spread over our face… and our steps lightened… as we looked ahead to four years without Hillary Clinton’s know-it-all mug in the news. But our shoulders stooped, too, as we listened to Donald Trump’s victory announcement. As we predicted, Americans got the president they deserved. Now, “no dream is too big.” No nightmare is out of bounds, either. Dow futures fell as much as 800 points as news spread and investors thought the end of the world had come [that didn’t last long, ed.]. But here at the Diary, we were serene. We had mocked both candidates and mooned the sacred rite of democracy – the election itself. Why?
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 November 10, 2016 to November 17, 2016:
- James Turk – What Donald Trump Faces Is Very Different From What Ronald Reagan Faced, Expect Major Market Moves…
As we kick off the third week of trading in November, today James Turk spoke with King World News about why what Donald Trump faces is very different from what Ronald Reagan face, but here is the good news… James Turk: “Congratulations to Mr Trump. If his presidency is as remarkable as his election, Eric, he could go down in history as a great president. I expect that a lot of things will change because of Trump. That’s what voters want…
- A professor has made a list of websites she says publish ‘fake' or ‘misleading' news
On Monday, Google and Facebook announced measures to ban fake news websites from using their advertising networks. Previous attempts by Google AdSense and Facebook Audience Network saw the companies ban sites that “misrepresent, misstate or conceal information”. However the proliferation of fake news during the US elections, some argued, swayed votes towards Donald Trump and prompted the social media platform and giant search engine into changing their policies.
- Trump’s Victory: A Historical Upset
I have to admit it. I fully did NOT expect Donald Trump to become the 45th President of the United States of America. All of the odds were against him: He was underfunded compared to Hillary’s money machine; Nearly every media source was openly against him; Not one major celebrity came out to support him; He was labbeled a racist and a misogynist; All leading figures of his own party abandoned him; Much of his policies were in direct opposition with the aims of the globalist elite; Robert DeNiro said he wanted to punch him in the face.
- Facebook, Google announce new policies to fight fake news
Two of the world’s biggest internet companies, Google and Facebook, are taking new steps to fight the rising tide of fake news — in other words, conspiracy theories and misleading information from no-name sites masquerading as news— that exploded on their platforms during this campaign cycle. The problem has grown to the point that it is now too big to ignore. Both companies have come under fire for widely-shared fake news stories that spread false information about the candidates. In a move disclosed Monday, Google said it will withhold lucrative digital ads from appearing on any sites that “misrepresent, misstate, or conceal information.” The new policy could give news and information sites greater incentive to avoid false headlines or risk losing revenue.
- Here’s Where Trillions of Investor Dollars Went After Trump’s Big Win
We expected the Super Shemitah/Jubilee time period (which officially ends on November 20th with the end of the Catholic Jubilee) to be one of dramatic change and chaos. And, did we ever get it! Since the beginning of the Jubilee year, in October of last year, two massive events have happened. Brexit and Trump. Both were completely unexpected by most. Brexit saw the worst day in worldwide stock markets in history the day after the vote. And, interestingly, Dow futures were down 777 points at one point as it became clear Trump had won the “selection.” But, then the markets had a massive rebound the next day.
- Legend Art Cashin On A Trump Presidency, The New World Order, Gold, Brexit, The Great Depression And Why We Will See Panic
As the bond market continues to melt down, interest rates rise and the Dollar Index surges above 100, legend Art Cashin gave one of his most important interviews ever to King World News about a Trump presidency, the New World Order, gold, Brexit, the Great Depression, and why we will see panic before the end of the year. Eric King: “In Trump’s acceptance speech he said that we are going to have massive infrastructure spending. Is that bearish for gold? I don’t think so.”
- This Wasn’t A Vote, It Was An Uprising
The article below has come to me. I am unable to ascertain if it is a published statement or one of those items sent around the Internet. Nevertheless, I do believe that it captures the attitude of those Americans who in the vast majority of the states gave their vote to Donald Trump. The optimism expessed in the article might be unrealistic. In order to prevail over the Oligarchy, President Trump will need a government as strong as he appears to be. He cannot find the strength he needs for his government among the usual Washington, Wall Street, and corporate sources. If he selects from these people, he will be impotent. The question is: who is his transition team? Are they focused on making nice with the Oligachs? If so, there will be no change.
- Dow’s Trump-Fueled Surge is Difficult to Explain
From David Fabian: It feels like we have almost packed a full year’s worth of stock market price action into just the last two weeks. With so many diverging market sectors and overall fluctuations, I thought it would be prudent to do an examination of some key charts. Taking a closer look at these categories can help frame macro views as well as determine areas of strength and weakness.
- Here’s Where Trillions of Investor Dollars Went After Trump’s Big Win
From ZeroHedge: The early winners and losers of Trump’s presidential win are very clear, with trillions of dollars flying around as investors attempt to position themselves for the next four years. Despite the repeated warnings by websites such as this one that the polls showing Hillary Clinton ahead of the election were rigged and manipulated, misrepresenting the real popular support of the two candidates, and that the likelihood of a “shock” Trump victory is far greater than anyone was willing to admit, both traders, the media, and the punditry were stunned by the outcome which, just like Brexit, few had actually anticipated. The result, at least in global capital markets, has been an unprecedented repricing of risk assets.
- War On Cash Intensifies: Citibank To Stop Accepting Cash At Some Branches
Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia. Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.” (How convenient that a bank would propose something that’s good for banks!) This isn’t the first time that the financial establishment has pushed for a cashless society in Australia (or anywhere else).
- Krugman Gets His Alien Invasion – And Gold Bugs Get Paradise
Nobel Prize winning economist and uber-liberal New York Times columnist Paul Krugman likes to illustrate his philosophy by noting that the threat of an alien invasion would help the economy by stimulating government spending. Well, last week’s election gave Krugman and the rest of the Keynesian establishment their alien invasion (Trump and company being only partially human when viewed through Beltway-culture eyes).
- Twitter cracks down on alt-right accounts
Twitter is cracking down on accounts belonging to members of the alt-right movement in the wake of Donald Trump's victory in the presidential election, USA Today reported Wednesday. The social networking website suspended the accounts of several prominent figures, including Richard Spencer, president of an alt-right think tank. Spencer, who had a verified account, told The Daily Caller News Foundation that Twitter's action “is corporate Stalinism.”
- A Third of Anti-Trump Protestors Arrested in Portland Didn’t Vote
The streets of downtown Portland have swelled with protesters each night since Donald Trump won the presidential election on Tuesday, and on occasion the protests have turned violent. That’s led to 112 arrests in the last week and a review of state election records by a local news station shows that more than a third of those arrested didn’t even vote.
- Who will be Trump's chief of staff? Kellyanne Conway says the announcement of The Donald's assistant is ‘imminent'
Kellyanne Conway, Donald Trump's campaign manager, has said that the announcement for the White House chief of staff is ‘imminent'. Conway told reporters late Saturday night that there are ‘several people being considered' for the position, according to ABC News. But, she added, ‘it's Mr Trump's decision ultimately'. She said that she thinks ‘Reince Priebus has expressed interest in the position' as well.
- George Soros
“I cannot and do not care about the social consequences of what i do.” explains it right there folks…..
- Permian’s Wolfcamp formation called biggest shale oil field in U.S.
In a troubled oil world, the Permian Basin is the gift that keeps on giving. One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.
- REVEALED: Donald Trump vows to ‘reopen 9/11 probe' that could ‘spark a revolution'
Disenfranchised working class voters propelled the billionaire reality star into the White House this week in one of the biggest election upsets in US history. In his first days as President-elect, Republican Trump has given few clues on how he plans to honour his pledge to “Make America Great Again”. But ahead of his Brexit-style election earthquake, Trump threatened to lift the lid on one of the most catastrophic terror attacks in modern history.
- Soros-Funded Anti-Trump Protesters Rioting in Cities Across America: Fomenting National Crisis and Martial Law?
Globalist investor in murder and mayhem George Soros is at it again, funding his MoveOn.org to organize post-election “sour grapes” protests around the country in response to underdog Trump’s surprising President-elect victory. Complicit crime partner mainstream media is having a field day deceitfully spinning these top down, billionaire driven demonstrations as a spontaneous, grassroots populist uprising against racist dictator Donald. From a press release from MoveOn.org: The gatherings – organized by MoveOn.org and allies – will affirm a continued rejection of Donald Trump’s bigotry, xenophobia, Islamophobia, and misogyny and demonstrate our resolve to fight together for the America we still believe is possible.
- Goldman Just Killed The “Reflation Euphoria” – Concludes Global Growth Will Suffer Under Trump No Matter What
Earlier today, we presented an analysis by Goldman Sachs which emerged with a lukewarm take on Trump's policies as to how they stand to impact US domestic growth, with only Goldman's “adverse” scenario resulting in a “stagflationary”, i.e., recessionary outcome. However, in a follow up report by another set of Goldman economists Nicholas Fawcett and Sven Jari Stehn, one which looks at the broader global set of Trump policy consequences for the entire world – because after all, the US is still a part of it – it finds that virtually every scenario leads to a global contraction, something we previewed yesterday in our post titled “What’s Good For The US In This Case, Is Not Good For Emerging Markets.”
- The Anti-Trump Protesters Are Tools of the Oligarchy — Paul Craig Roberts
Who are the anti-Trump protesters besmirching the name of progressives by pretending to be progressives and by refusing to accept the outcome of the presidential election? They look like, and are acting worse than, the “white trash” that they are denouncing. I think I know who they are. They are thugs for hire and are paid by the Oligarchy to delegitimize Trump’s presidency in the way that Washington and the German Marshall Fund paid students in Kiev to protest the democratically elected Ukrainian government in order to prepare the way for a coup.
- Keiser Report: Gaddafi-like Death to Clinton's Political Career (E992)
In this episode of the Keiser Report, Max and Stacy discuss the gruesome Gaddafi like death to a political career. They look at the role of Obamacare premium increases in middle income voter discontentment with the Democratic Party. In the second half, Max interviews Dr. Michael Hudson about what went wrong for Hillary.
- Forget Trump – Is Deutsche Bank The First Domino of the Next Economic Collapse?
The FIRST DOMINO of Contagion: Will Deutsche bank be the catalyst for the collapse of the European banking system?
- The Amazing Collapse of Russia’s Auto Market
We don’t hear much from the global automakers and their analysts about the multi-year sales fiasco in Russia, in part because they don’t like to bring up crummy data unless they have to. And they don’t have to. For them, Russia is just a tiny market, compared to China and the US: through October this year, new light vehicle sales in Russia amounted to about 8% of sales in the US. Since 2010, auto sales in China, the US, and many other countries have boomed. And they grew in Russia too, but only until late 2012, when the market began to stall. They declined in 2013. Then, when the sanctions hit in 2014, the market sagged. When the oil bust hit in 2015, the market crashed. And to this day, it continues to head south. The numbers are stunning.
- Anti-Vaccination Proponent Melania Trump Delivers Powerful Speech
Vaccinate your kids, they say. It’ll be safe, they say. The only problem is that “they,” isn’t vaccinating their children. Tonight, Melania Trump, the wife GOP Presidential nominee and potential First Lady of the United States, took the stage in grand fashion to endorse her husband’s controversial campaign. Melania has come from a rural town in Slovenia to the brink of being one of the world’s most powerful women. For husband Donald, Melania serves as a puzzle piece that doesn’t seem to fit with liberal rhetoric. Trump’s being painted as a racist and xenophobic and misogynist, something Melania’s presence seems to deny even without her ringing endorsements of him. She’s an immigrant, a woman, a cultural infusion.
- The Global “Populist” Doom Tour Swings to Italy
Widespread public disaffection and dissatisfaction are not unique to the UK and US; they’re on the rise all over the developed world. It’s not hard to see why. In the words of Mark Blyth, one of an embarrassingly small number of economists to correctly call both Brexit and the victory of Trump, the last 30 years have seen “a huge amount of economic growth but hardly anyone’s benefited from it.” And now the people are “fed up” and have decided at any opportunity to “give their elites notice that they’ve had enough.”
- Here’s My Experience with Healthcare in Mexico
An acquaintance of mine was walking around with a bandaged hand so I asked him what had happened. He was working and something slipped and he ended up with a nasty gash on the back of his hand. He went down to the local clinic and they put in 8 stitches. The total bill was $52. Three years ago, I fell on a tile floor and broke my pelvis in 3 places. I was picked up by an ambulance, driven 40 miles to a private hospital where I spent 6 days and had a 5 hour surgery to repair the damage. They put in 3 pins, a plate, and 6 screws. The total bill was $22,000. I have no idea just how many stitches they put in, but the incision is 14″ long. That was the total bill, no insurance.
- The Far Left Is Planning The Biggest Political Protest In United States History For Inauguration Day
We have seen very large protests in major cities all over America since Donald Trump won the election, but the biggest one of all is being planned for January 20th. Radical leftists are calling for thousands upon thousands of activists to descend upon Washington D.C. on Inauguration Day, and they are planning to disrupt the inauguration festivities as much as they possibly can. And if you doubt that the “Not My President” movement can pull this off, you may want to consider that 25,000 protesters showed up in New York City on Saturday on very short notice. These people are bitter, angry, frustrated and incredibly motivated. At this point they still have more than two months to organize their forces, and many are expecting that this is going to be the most chaotic Inauguration Day in American history.
- “Is The Market Wrong?”: Financial Conditions Are Tightening At An Alarming Pace
As a result of the recent spike in yields, and surge in the dollar following the Trump victory, the market's reaction has been to assume that this is a harbinger of rising inflation due to a tidal wave of “imminent” fiscal easing, and has accordingly pushed up the December rate hike odds to above 90%. After all, the logical offset of the expected easing in fiscal conditions is for the Fed to tighten monetary policy, arguably the only source of market gains (and economy support) over the past 7 years. But is the market wrong?
- President-elect Trump speaks to a divided country on 60 Minutes
The following script is from “The 45th President,” which aired on Nov. 13, 2016. Lesley Stahl is the correspondent. Rich Bonin and Ruth Streeter, producers. During what seemed an interminable campaign, a divided country found all kinds of ways to describe Donald Trump: visionary businessman, vulgar self-promoter, political neophyte. But after Tuesday, for all Americans, there’s only one description that counts: president-elect.
- Bonds bloodied as Trump spending plans spur dollar
Routs in global bonds and emerging markets intensified, while the dollar climbed with base metals as investors positioned for the wave of fiscal stimulus that Donald Trump has pledged to unleash. The yield on 30-year Treasuries rose to the highest since January, with last week’s record debt selloff bleeding into Monday trading and weighing on credit markets.
- Democrats Are Now Calling For A ‘Revolution In The Streets’, And I Believe That They Are Quite Serious
The surprise victory by Donald Trump on November 8th has spawned a series of violent protests and riots all over the nation as stunned leftists continue to throw the largest post-election temper tantrum in U.S. history. Protesters in large cities all across America have been disrupting public transportation, looting stores, hurling objects at the police and burning Trump in effigy. There have even been shootings at anti-Trump rallies in Seattle and in Portland. Hundreds of protesters have been arrested so far, and organizers are promising that this is only just the beginning. Meanwhile, large numbers of enraged leftists are physically threatening Trump on Twitter, and some are even calling for a violent revolution. Sadly, I believe that they are quite serious about this.
- Popular Vote Reality Check
I’ve been listening to the left wingnuts crying foul because Crooked Hillary won the popular vote. They evidently fell asleep during their American government class in high school. The reason there are two senators per state and an electoral college is to keep the large powerful states from wielding too much power in governing the nation. It seems left wing nutjobs seem to be drawn together into 6 liberal enclaves. You may notice the professional violent Soros protestors do their best work in these states. Republican voters in these states know their vote is worthless, because there are far too many irrational, mathematically challenged snowflakes to overcome. So, many don’t even bother to vote.
- Monte Paschi Begins Bondholder “Bail-In”: Will Equitize Over €4 Billion In Junior Bonds
Monte Paschi's long anticipated, if largely undesired bail-in is finally a fact. Ever since the bank failed the ECB's latest stress test this summer, when it was advised that it needs to raise billions in capital, only to see the process fizzle with virtually no willing sources of new cash emerging due to the opaque labyrinth of the bank's bilions on NPLs, Italy's third largest, most insolvent, bank has been hoping to avoid a debt conversion, out of fears it may spook retail bondholders across the capital structure, and in other Italian banks, who may perceive the move even if touted as “voluntary” as a creditor bail-in. Which it technically is.
- Why India wiped out 86% of its cash overnight
India is in the middle of an extraordinary economic experiment. On 8 November, Prime Minister Narendra Modi gave only four hours' notice that virtually all the cash in the world's seventh-largest economy would be effectively worthless. The Indian government likes to use the technical term “demonetisation” to describe the move, which makes it sound rather dull. It isn't. This is the economic equivalent of “shock and awe”.
- Anti-Trump Protests: Proof Of Professional Activist Involvement
In a story from November 12, USA Today writes an article to discredit the idea that the professional activist community is involved with organizing anti-Trump protests. They invite you to meet the protesters. USA today presents them as ordinary people. However, WikiLeaks exposes them as experienced protest organizers and activists. USA Today presents the protests as spontaneous, involving people from “all walks of life” – certainly not professional protesters.
- Elizabeth Warren: Democracy Demands That We Work Together on America’s Agenda
Elizabeth Warren sparred with Donald Trump throughout the 2016 election campaign. Now, the senator from Massachusetts is ready to work with the president-elect to rebuild the American economy. But if Republicans attempt to remove Wall Street regulations or gut the Consumer Financial Protection Bureau, she will fight them. Warren shared her thoughts in a speech to the AFL-CIO executive council in Washington, D.C., on Thursday.
- Iran Nears Pre-Sanction Levels, Starts Pumping Oil At 3 New Fields
Three new oilfields in Iran were put in production mode this weekend at an official ceremony, adding more than 220,000 bpd to the country’s total output. The fields are Yadavaran, North Azadegan, and North Yaran—three of the five fields that Iran shares with Iraq. The launch of North Yaran was reported last week, with initial production seen at 30,000 bpd. North Azadegan will yield 75,000 bpd, and Yadavaran should produce 115,000 bpd. At the ceremony, President Hassan Rouhani was quoted as saying that “Oil production west of Karoun must reach one million barrels per day. This is a realistic goal, and we need investment and technology.”
- Iran Surprises OPEC With A Further 250,000 Bpd Increase
President of Iran, Hassan Rouhani, was poised to announce on Sunday that the nation has increased oil production by 250,000 barrels per day. This was accomplished through the creation of three new fields west of the Karoun River. The addition in production was highly unexpected, especially to neighboring OPEC nations. As of this past Wednesday, Brent crude oil futures have dropped a substantial amount to under $44 per barrel. Three publicly traded companies on three separate exchanges have paid as much as $3 billion to obtain these fields. Sinopec from China has acquired the largest, producing 115,000 barrels per day. China’s National Petroleum Corporation bought the second largest field and the third was given to Persia Oil and Gas Development of Iran. All three of these companies stand to profit from these fields. Iran is in the process of ramping up production to reach their prior unsanctioned levels, which would place the oil majors in a crucial position to grow.
- Iran seeks $10 bln in Russian arms
Iran is moving ahead with plans to purchase advanced Russian weaponry now that UN sanctions have been lifted even as Republican president-elect Donald Trump vows to revisit and/or scrap the nuclear deal between the Obama Administration and Tehran. Viktor Ozerov, the Russian Federation Council’s defense and security committee, who is on a visit to Tehran, said on Monday that Iran wants to buy $10 billion worth of weapons including T90 tanks, the most advanced in Russia’s arsenal. Russia has completed the delivery of S-300 air defense systems to Iran in October and these are expected to be ready for deployment by year’s end, Ozerov said. But any weapons that can be used for offensive purposes, such as the T-90s, must be approved by the UN Security Council until 2020.
- Trump just laid out a pretty radical student debt plan
Donald Trump is promising the most liberal student loan repayment plan since the inception of the federal financial aid program, in a clear effort to court the millions of Americans struggling with the high cost of college. “We would cap repayment for an affordable portion of the borrower’s income, 12.5 percent, we’d cap it. That gives you a lot to play with and a lot to do,” Trump said at a rally in Columbus, Ohio, on Thursday. “And if borrowers work hard and make their full payments for 15 years, we’ll let them get on with their lives. They just go ahead and they get on with their lives.”
- Commentary: The unbearable smugness of the press
The mood in the Washington press corps is bleak, and deservedly so.
It shouldn’t come as a surprise to anyone that, with a few exceptions, we were all tacitly or explicitly # WithHer, which has led to a certain anguish in the face of Donald Trump’s victory. More than that and more importantly, we also missed the story, after having spent months mocking the people who had a better sense of what was going on.
- China plays critical role in climate change cooperation – official
China is expected to play a pivotal role in consolidating and enhancing South-South partnership, particularly when it comes to issues related to climate change. Speaking to the Chinese news agency Xinhua, Moroccan Foreign Minister and Climate Change Conference (COP22) President Salaheddine Mezouar said that China has an “extremely important role to play in accompanying, reinforcing and boosting South-South partnership and support sustainable development policies in the African continent”. China is currently participating in the 22nd Conference of Parties to the United Nations Framework Convention on Climate Change (COP22) held in Marrakech, Morocco.
- Trump Will Become Third President to Forego a Salary. Here's What the Other Two Did With Theirs…
Trump Will Become Third President to Forego a Salary. Here's What the Other Two Did With Theirs… From the start of his campaign, Trump has pledged that he'd put aside his business activities completely if elected, telling CBS's “Face The Nation” last October that he’s been “phasing out” his role since the beginning of his campaign.
- Federal Reserve & Clintons Doomed-Clif High
Internet data mining expert Clif High predicted that “Trump would win” the election and that Hillary Clinton would go “missing” after the election. Sure enough, Hillary was missing the night of her defeat. What does that mean? High thinks, “That there was a breakdown among a very delicate relationship among a lot of powerful parties that failed to deliver as promised. The plan didn’t work. So, now there is no real plan “B.” There never could be under the circumstances. We are in a situation where there can’t be a plan “B” for the Federal Reserve, for example. They (FED) have to go on a certain path, they’re doomed. That is true of the criminal organization we call CGI (Clinton Global Initiative). Any criminal gang, no matter where it is in the social order, progresses along a certain path, runs into opposition and dies. It always happens, and it always will.”
- As Obama buries US-led TPP, focus shifts to China-backed trade deal
The China-proposed Free Trade Area of the Asia Pacific (FTAAP) will be in focus during the upcoming Asia-Pacific Economic Cooperation (APEC) summit in Peru from Nov. 19-20 even as the US officially gives up on a rival trade deal, the TPP. Heads of states including Chinese President Xi Jinping, Russian President Vladimir Putin and US President Barack Obama will be in attendance at the APEC Summit. In Peru, Obama will explain to other TPP nations the reasons for the US government’s failure and the suspensions of its efforts to win congressional approval for the deal. US President-elect Trump has called the TPP a “disaster” and “a rape of our country”.
- When People Laughed At The Idea Of Trump Actually Being Elected President!
Never underestimate the power of the silent majority. Those who kept silent during this campaign had the strongest voices.
- Soros And Liberal Mega-Donors Plot For War With Donald Trump
George Soros and other liberal mega-donors are gathering in Washington for a three-day, closed-door meeting where they will discuss opposing Trump’s plan for his first 100 days in office. According to Politico, the meeting, which began on Sunday night at Washington’s Mandarin Oriental hotel, is sponsored by the influential Democracy Alliance donor club and will include darlings of the left such as House Democratic leader Nancy Pelosi, Senator Elizabeth Warren and Congressional Progressive Caucus co-chairman Keith Ellison.
- 58 Facts About the U.S. Economy from 2015 that are Almost too Crazy to Believe
This year the middle class continued to deteriorate, more Americans than ever found themselves living in poverty, and the debt bubble that we are living in expanded to absolutely ridiculous proportions. Toward the end of the year, a new global financial crisis erupted, and it threatens to completely spiral out of control as we enter 2016. Over the past six months, I have been repeatedly stressing to my readers that so many of the exact same patterns that immediately preceded the financial crisis of 2008 are happening once again, and trillions of dollars of stock market wealth has already been wiped out globally. Some of the largest economies on the entire planet such as Brazil and Canada have already plunged into deep recessions, and just about every leading indicator that you can think of is screaming that the U.S. is heading into one. So don’t be fooled by all the happy talk coming from Barack Obama and the mainstream media. When you look at the cold, hard numbers, they tell a completely different story. The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe…
- EU chief SQUIRMS over questions of legitimacy of ‘undemocratic’ European Commission
THIS is the astonishing moment an EU chief was left squirming as he was questioned on whether the European Commission is truly democratic – when it is made up of unelected representatives. The awkward scenes happened during a citizens dialogue in Helsinki, Finland, when Frans Timmermans, the First-Vice President of the Commission, was challenged over the legitimacy of the institution. Taking the EU representative to task, a Finnish citizen demanded to know why Jyrki Katainen had been allowed to become the country's commissioner after he resigned as prime minister for “failing” in the leading role.
- The sneering response to Trump’s victory reveals exactly why he won
If you want to know why Trump won, just look at the response to his winning. The lofty contempt for ‘low information’ Americans. The barely concealed disgust for the rednecks and cretins of ‘flyover’ America who are apparently racist and misogynistic and homophobic. The haughty sneering at the vulgar, moneyed American political system and how it has allowed a wealthy candidate to poison the little people’s mushy, malleable minds. The suggestion that American women, more than 40 per cent of whom are thought to have voted for Trump, suffer from internalised misogyny: that is, they don’t know their own minds, the poor dears. The hysterical, borderline apocalyptic claims that the world is now infernally screwed because ‘our candidate’, the good, pure person, didn’t get in.
- Canadian Parliament Condemns Free Speech
On October 26, Canada's parliament unanimously passed an anti-Islamophobia motion, which was the result of a petition initiated by Samer Majzoub, president of the Canadian Muslim Forum. The petition garnered almost 70,000 signatures.
- Donald Trump could still not become president because of ‘faithless electors’ and the electoral college
It’s still theoretically possible for Donald Trump not to become president. But the near-impossibility all depends on the electoral college and the strange US system. Donald Trump might have won the election by getting more of the votes in the electoral college than Hillary Clinton did. But strictly and legally, it’s not the election that just happened that matters: it’s the one where the members of the electoral college go and represent their voters and pick their candidate. That’s due to happen on 12 December, at meetings in each state where all Republican or Democrat representatives – depending on how each state voted – will cast their vote. And it will almost certainly go one way, with most of the electors casting their ballots for Donald Trump and making him President.
- Did America Really Pass The Test? – Hillary Clinton Is Going To Win The Popular Vote By A Wide Margin
The 2016 election was a test, and it would be easy to assume that since Donald Trump won the election that America passed the test. Unfortunately, it may not be that simple. A closer look at the numbers reveals a very sobering reality. Yes, Donald Trump won far more electoral votes than Hillary Clinton did, and that means that he is on track to become our next president. But Hillary Clinton is going to win the popular vote, and it is likely to be by a very wide margin once all the votes are counted.
- No Matter What Happens, We Won’t Know Who The Next President Will Be Until December 19th
Most Americans assume that their votes decide who the next president will be, but that is actually not the case. It is the Electoral College that will elect the next president, and they don’t meet until December 19th. And the truth is that all of the members of the Electoral College never meet in one place. Rather, electors gather together in all 50 state capitals on the second Wednesday in December, and it is at that time that the next president and vice president are officially elected. Of course members of the Electoral College have voted according to the will of the people about 99 percent of the time throughout our history, but with how crazy this election has turned out to be you never know what might happen. For example, later on in this article you will see that one elector in Washington state has already publicly stated that he will not cast his vote for Hillary Clinton. If other “faithless electors” emerge, that could potentially change the entire outcome of the election.
- For People Who Are Worried About Druckenmiller Selling His Gold…
For people who are worried about Druckenmiller selling his gold… Before we get to Druckenmiller selling his gold, look at the collapse in the 30-year bond market as interest rates continue to surge! I am going to stick with yesterday’s format and try to make sense of the market motion, then turn to the action lower in the column, and I’m doing this in response to all the questions I’ve been getting about how various markets can possibly do what they’re doing, i.e., why are they behaving as they are…
- Druckenmiller: “I Sold All My Gold On The Night Of The Election”
Just six months ago, Stanley Druckenmiller saw nothing but pain for the economy: in a presentation to the Sohn Conference in early May, the legendary Duquesne manager delivered what may have been his most bearish fire and brimstone sermon yet, and in fact according to some buysiders who were present, its somber mood and lack of faux optimism was downright apocalyptic. Druckenmiller said that while the Fed and policymakers have no endgame, markets do – hinting that one is rapidly approaching – and suggested that everyone should liquidate their equity holdings and buy a certain 5000 year old shiny asset, which as we reported previously, is Druckenmiller's “largest currency allocation.”
- Toward A New World Order?
A Brave New World is coming? Perhaps. We had a recent discussion with a group of people in the hopeless business of doing long term forecasting. This made us think about what the world will look like over the next 20 to 40 years. A pretty thankless task, but the bottom line is without a damn good war, Asia will be the way of the future. As an experiment, assume, as most long term forecasters do, that both Europe and the US have reached a mature plateau where growth will average around 1.5 to 2 per cent over the long term, while China will slowly decelerate from the current 6.5 to 3 per cent and India from today`s 7 to around 4. In this scenario (which we do not necessarily believe in, as China is up for en epic crash) what will be the share of global GDP by, say, 2060? And what are the geopolitical implications?
- China ‘Devalues' Yuan To Weakest Since Breaking The Peg In 2010
With offshore Yuan tumbling in recent days – echoing the collapse in US Treasury bond prices – the spread to the onshore fix appears to have forced the PBOC's hand. With a 200 pip cut in the CNY fix tonight, China has all but erased any strength in the Renminbi against the USD since it broke the peg (“enabled more flexibility”) in June 2010. Given the wakness in the Reniminbi basket, one could argue that the Yuan could be sold against the USD considerably more to catch down to the pressure that other major basket currencies have been under…
- What Does Trump’s Victory Mean For Energy Policy?
Real estate mogul Donald Trump has won the presidential election, and that likely means the Obama administration’s global warming agenda will be massively scaled back or scrapped altogether. Trump, a Republican, has promised to cut the EPA, scrap the Paris climate treaty and rollback rules holding back U.S. energy production. “Just look at what Trump has promised,” a source close to Trump’s transition team told The Daily Caller News Foundation.
- Blame the Shrinking Toblerone on the Expanding Money Supply
The confectionery corporation Mondelez International Inc. has announced it will be downsizing its beloved Swiss chocolate bar Toblerone due to the high cost of ingredients. The Illinois-based company, said in a Facebook post: “We carry these costs for as long as possible, but to ensure Toblerone remains on-shelf, is affordable and retains the triangular shape, we have had to reduce the weight of just two of our bars in the U.K.” Adjusting the size and weight of their products is a common practice for manufactures of food and beverages. It’s called “shrinkflation” and works as a cost cutting maneuver. In adjusting the Toblerone, the manufactures reduced its iconic row of triangular shaped pieces, expanding the gaps between each.
- Marshall Swing Returns: Read My Lips…THE GLOBAL ECONOMIC COLLAPSE IS COMING
Well, today is Election Day morning and everybody is wondering what happens in the U.S. Presidential Election and also what happens to gold and silver. People will be holding their breath until polls close in East Coast and Central time zones as most elections are decided and called shortly afterwards. I have not written an article in about 1 year and with good reason. There really has not been that much interesting, to me, going on with gold and silver. It is the same old stuff over and over again, wash, rinse, and repeat. Can you spell M – A – N – I – P – U – L – A – T – I – O – N ?
- Will Obamacare morph into Trumpcare?
The buzz following the US elections is all about what to expect from the Trump presidency. At first, there was uncertainty over what, precisely, did he promise to do, but when he released his ‘Contract With the American Voter’ (described in this week’s news) the uncertainty shifted to what Trump will be able to do, considering the fact that almost all of it must be initiated and funded by Congress.
- Peter Schiff Calls “Hidden Vote” for Trump Before Election Results
In an interview with RT News Tuesday night just as the election was getting started, Peter Schiff showed, once again, his acumen and insight for reading economic and political situations correctly. After Larry King asked if the election’s comparison to Brexit was appropriate, Peter accurately described the simmering voter angst at the economy and predicted the existence of a “hidden vote” for Trump that would soon prove to have eluded pollsters.
- No, the Electoral College won’t make Clinton president instead of Trump
Donald Trump won Tuesday’s presidential election. But many liberals and progressives have begun clinging to one faint hope that he could still be stopped — through the Electoral College. Tuesday’s vote was technically not to make Trump president, but only to determine who the 538 electors in various states across the country will be. It is those electors who will cast the votes that legally elect the president on December 19.
- All About Blockchain And Why It's A Bigger Deal Than Bitcoin
Banks have made the exchange of currency their business. But the digital age has ushered in a new way of banking, disrupting the institutions that have controlled the industry for hundreds of years. It’s the internet of banking, developed by private citizens for private citizens. While innovation in the industry is most commonly linked to Bitcoin, a cryptocurrency, it’s the underlying technology, blockchain, that might produce the biggest waves. “Blockchain presents an opportunity to bring disparate things together and allow secure, nonrefutable records of transactions to be done anywhere you need them to be done — quickly, securely and with little chance of fraud,” said Andrew Dare, architect of financial services innovation at Hewlett-Packard Enterprise in Halifax, U.K. “Therein lies the true value of the technology.”
- The Chilling Thing Hertz Just Said about the US Auto Boom
Hertz Global Holdings, the giant rental car company which also owns Dollar and Thrifty, got crushed on Tuesday, as is so often the case, by an otherwise boring accounting entry. Depreciation of its cars had to be adjusted. Depreciation of the rental fleet is a huge expense in the industry: for Hertz, 29% of its total expenses. Depreciation is supposed to bring the value of these cars down to what they can be sold for when they’re scratched and dented and have 37,000 miles on them. Depreciating the fleet just a little less aggressively would boost earnings for a little while and is a very tempting strategy. But a few quarters later, when the cars have to be sold, reality comes home to roost.
- What the Heck’s going on with Foreclosures? Why this Spike?
The total number of homes with foreclosure filings jumped 27% in October from September, when they’d been at the lowest level since 2006. It was the biggest jump in monthly foreclosure filings since August 2007. Compared to October last year, homes with foreclosure filings still decreased, but this nationwide decrease is covering up what is now happening in 28 states and Washington D.C., according to the Foreclosure Report by ATTOM Data Solutions. There, the inventory of homes with foreclosure filings is beginning to rise even on a year-over year basis.
- Former U.S. Treasury Secretary Just Warned Trump Could Be Assassinated
Today former U.S. Treasury Secretary just warned that Trump could be assassinated. (King World News) Former U.S. Treasury Secretary Dr. Paul Craig Roberts: The US presidential election is historic, because the American people were able to defeat the oligarchs. Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump. This shows that the media and the political establishments of the political parties no longer have credibility with the American people…
- Wow… The Country Is Totally Not Prepared For This…
If you’ve ever been REALLY bored, and wanted entertainment rather than anything even loosely resembling news, you may have stumbled upon cable “news” outlet MSNBC. If so, then it normally takes all of about 5 seconds to determine that the pundits and alleged “news” anchors MUST permanently resided in an alternate universe or dimension. Why? Because that's the only remotely plausible explanation for some of the stories they report as news on that channel, HOWEVER, in the article and videos below, you’re about to see proof that they’ve returned to our realm, even if just temporarily.
- Consumer Credit Increases By $19.3 Billion
The Federal Reserve's consumer credit report for September 2016 shows a 6.3% annualized monthly increase in consumer credit, and 7.0% for the entire third quarter. Revolving credit increased 5.2% for the month as well as Q3,. Non-revolving credit increased 7.4% for September and 7.6% for Q3. Consumer credit matters due to personal consumption being the driving force in economic growth.
- Do You Believe In Miracles?
We have never seen anything like this in the history of American politics. Donald Trump’s shocking victory on election night is nothing short of a modern day miracle. Several weeks ago I told my readers that it would take the biggest political miracle ever in order for Trump to win, and I had been strongly urging them to vote, but even early on election night I was skeptical that Trump could actually pull it off. Initially the results coming out of Florida, North Carolina and Ohio looked rather ominous, and a lot of Trump supporters were freaking out. But those initial numbers strongly reflected early voting results, and those results typically favor Democrats. Once the Election Day numbers started rolling in, it was clear that there was a massive unanticipated wave of momentum for Trump.
- The defeat of Hillary Clinton just dealt a devastating blow to Monsanto, Big Pharma and the corrupt vaccine industry
The ignorant people voting for Hillary Clinton two days ago had no idea what they were really voting for. That's by design, of course: They are kept deliberately dumbed-down by the complicit media which packed their brains full of anti-facts and twisted mush. While Clinton supporters mistakenly believed Hillary supported women, children, immigrants and humanity, in the real world Hillary Clinton was an obedient pawn of the most evil, genocidal corporate entities on the planet.
- This Trump Economic Advisor Wants America to Go Back to the Gold Standard
Donald Trump is no policy wonk. He is pitching himself as the best man for the presidency based on his track record as businessman, and his ability to surround himself with the “best” people—not on his knack for writing white papers. This, of course, means that it is important for voters to understand whom he is surrounding himself with, and what sort of ideas they hold.
- Trump releases seven-point health care reform plan . . . and it's excellent
A lot more than just getting rid of the lines. I mentioned on Facebook yesterday that I am not that big a fan of election years, and here's a case in point. At this moment, #NeverTrump is all the rage among conservatives, and there's a tremendous push to get Republican primary voters united behind one remaining Trump rival to take the nomination away from him. My job is to write what I think about whatever happens on a given day. It's not to only write what I think will result in a certain outcome. So when I tell you that Donald Trump's new seven-point health care reform plan is excellent, some of you are going to say: Don't say that now! It'll help Trump! # NeverTrump!!!
- Kremlin: Hillary Clinton victory would have CAUSED World War 3 between Russia and USA
DONALD Trump's shock victory in the US presidential election prevented World War 3 erupting between the USA and Russia, a Kremlin official has claimed. The senior Moscow diplomat, who advises Vladimir Putin, said a Hillary Clinton presidency would have plunged the world into a diplomatic crisis. But a former British foreign secretary has warned Mr Trump against cosying up to the Russian strongman, saying the Kremlin was “unafraid to use aggression and intervention to shore up its influence”.
- Surging Bond Yields Signalling Pain Not Growth Ahead For US Economy
The US election results are in and the US stock market is enjoying a sharp rally over the shock news of Donald Trump winning the election and becoming the new President elect. On the back of the big rally in US stocks there has also been another big shift occurring in another very important asset class, US Government bonds.
- Here Is What Donald Trump Wants To Do In His First 100 Days
At the end of October, Donald Trump spoke in Gettysburg, Pa., and released a plan for his first 100 days in office. The plan (below) outlines three main areas of focus: cleaning up Washington, including by imposing term limits on Congress; protecting American workers; and restoring rule of law. He also laid out his plan for working with Congress to introduce 10 pieces of legislation that would repeal Obamacare, fund the construction of a wall at the Southern border (with a provision that Mexico would reimburse the U.S.), encourage infrastructure investment, rebuild military bases, promote school choice and more.
- Over $1 Trillion In Bond Losses In Days: Second Worst Week Ever
Six months after we warned about the massive loss potential resulting from a spike in bond yields, one month after Ray Dalio did exactly the same, when he warned the NY Fed that “it would only take a 100 basis point rise in Treasury bond yields to trigger the worst price decline in bonds since the 1981 bond market crash”, and one day after we documented that MTM losses from surging bond yields had surpassed a third of a trillion, the tally is now three times greater, with total MTM losses soaring to $1 trillion just two days after the presidential election. As Bloomberg calculates, more than $1 trillion was wiped off the value of bonds around the world this week on concerns Trump’s policies will unleash a debt tsunami, and are seen boosting spending and quickening inflation. They are also expected to lead to much more QE as there will be trillions in government budget deficits that need to be funded.
- The Trans-Pacific Partnership is dead, Schumer tells labor leaders
The Senate’s soon-to-be top Democrat told labor leaders Thursday that the Trans-Pacific Partnership, the trade deal at the center of President Obama’s “pivot” to strengthen ties with key Asian allies, will not be ratified by Congress. That remark from Sen. Charles E. Schumer (D-N.Y.), who is expected to be the incoming Senate minority leader, came as good news to the AFL-CIO Executive Council, which met Thursday in Washington. Schumer relayed statements that Republican congressional leaders had made to him, according to an aide who confirmed the remarks.
- Banning Fracking In The U.S. Would Kill 14.8 Million Jobs, Study Says
A ban on hydraulic fracturing would kill 14.8 million jobs and cost the average American family $4,000 dollars, according to a new report by the U.S. Chamber of Commerce. Were environmentalists to successfully ban fracking next year, 3.9 million jobs would evaporate in 2017, rising to 14.8 million jobs lost by 2022, according to the report. Gasoline prices would almost double as would electricity prices. U.S. household incomes would fall by $873 billion.
- Trump Not Seeking Full Repeal Of Dodd-Frank; Opposes Bank Bailout Provision
One of the bigger surprises to emerge from the initial attempts by the Trump transition team to frame the president-elect's policy yesterday, was what was dubbed at full repeal of Dodd-Frank, a move which has been seen by some as surprisingly pro-banker friendly.
- And Then They Came For the Big Rigs
No one appears to have noticed this yet. But they will. Not on the road – or at the car dealership. At the supermarket. For openers. Uncle is “proposing” a “program” (the soft-sell language hides the reality of regulations issued by an unelected bureaucracy – EPA – which will be extremely mandatory) in order to “Reduce Greenhouse Gas Emissions and Improve Fuel Efficiency (their exact language, in the EPA’s pretentious Federal All Caps Style) of “Medium, and Heavy Duty Vehicles.”
- Edward Snowden Addresses The US Election Result In Public Webcast
Edward Snowden, courtesy of RT, is delivering a public address on the US election result from Russia where he is a “temporary resident”, and taking questions via social media on privacy concerns, his pardon and other issues of public concern. A campaign has been launched to secure Snowden a presidential pardon before Obama leaves office in January 2017. Questions can be submitted to the whistleblower by using the hashtag # StartPageSnowden.
- Zhuhai Air Show draws in over $40 bln
The 11th China International Aviation & Aerospace Exhibition in Zhuhai, in south China’s Guangdong Province, closed on Sunday with a total of 402 deals worth over $40 billion, organizers said. The six-day exhibition attracted more than 700 exhibitors from 42 countries, and showcased mainly Chinese defense equipment including the J-20 stealth fighter. Although it debuted at the airshow, the J-20 will not be fully operational until 2018, the Chinese air force says. Commercial Aircraft Corporation of China (COMAC) sold almost 100 aircraft, a mix of commercial and fighter jets, during the event.
- To fight graft, India withdraws large bills
In a surprise move, India will withdraw the 500 and 1,000 rupee notes from circulation effective midnight Tuesday official sources said in New Delhi. The measure came following an announcement from Indian Prime Minister Narendra Modi who said it was an essential move to tackle graft in the country and crack down on unknown sources of income. “To break the grip of corruption and black [unaccounted for] money, we have decided that the 500 and 1,000 rupee currency notes presently in use will no longer be legal tender from midnight ie 8 November, 2016,” Modi said in a speech which was special televised on national TV.
- CIVIL WAR: Violent rallies sweep America as protesters BURN US flag after Trump victory
THOUSANDS of seething protestors have descended upon cities across America following the momentous election of Donald Trump as the US President. iolent rallies have taken place in New York, Chicago, Austin, Boston, Philadelphia, Washington, San Francisco, Los Angeles and Dallas to express their anger against the billionaire businessman which have continued long into the early hours of Thursday morning. Hordes of demonstrators rushed to Trump Tower in Manhattan screaming “not my President”, “New York hates Trump”, “we reject the President-elect” and “f*** the wall”.
- Russian banks hit by cyber-attack
Five Russian banks have been under intermittent cyber-attack for two days, said the country's banking regulator. The state-owned Sberbank was one target of the prolonged attacks, it said. Hackers sought to overwhelm the websites of the banks by deluging them with data in what is known as a Distributed Denial of Service (DDoS) attack. Security firm Kaspersky said the attacks were among the largest it had seen aimed at Russian banks.
- The defeated left turns to HATE: Liberals unleash beatings, death threats and calls for mass murder of Trump supporters
Now that the voters have wholly rejected the retarded, delusional leftist vision for America — which we might as well just call “liberal suicide” — the real character of the left is on full display. Today, angry liberals are turning to extreme violence and hatred, calling for the killing of Trump supporters, the assassination of Trump and the bloody beatings of all whites. Yes, the racism, violence, bigotry and HATE of the left has finally come out of the closet. I saw this coming, of course, long ago. If you're a regular Natural News reader, you may recall my August 30th article entitled Chaos will erupt across America in less than 100 days… no matter who wins the election. Now, like clockwork, it's all coming true exactly as I foresaw.
- George H.W. Bush on Trump: I ‘wish him well'
Former President George H.W. Bush joined his son on Wednesday in congratulating Donald Trump on his White House win. POLITICO reported in September that the elder Bush planned to support Hillary Clinton for president, according to Kathleen Hartington Kennedy Townsend, a former Maryland lieutenant governor and daughter of the late Robert F. Kennedy. It's unclear, however, whether he actually did so.
- Progressives Find ‘White Trash’ More Threatening Than Nuclear War — Paul Craig Roberts
The American electorate’s preference for Donald Trump and Bernie Sanders has established two facts. One is that the majority of the American people do not believe the media presstitutes. The other is that only the “progressives” and “liberals” who inhabit the Atlantic Northeast and Pacific West coasts believe the presstitutes. Trump’s election to the presidency has confirmed these holier-than-thou souls in their strongly held belief that America is a white trash racist country. They have told us this all day long today. From these people and from the presstitutes we hear that white supremacy elected Trump. This is their propaganda, the intention of which is to discredit a Trump administration before it is inaugurated. Funny how white supremacy elected black Obama twice previously.
- Rudy Giuliani Addresses Hillary Pardon – “President Obama Should Leave It To The System”
Rudy Giuliani, the man that many believe Trump will tap for Attorney General, walked a very fine line this morning in responding to a question about whether or not the Obama administration should pardon Hillary Clinton for her numerous alleged crimes. While noting the obvious intricacies around potentially prosecuted a former political foe, Giuliani noted that “there are deep and disturbing issues there” and that “President Obama should leave it to the system that we all believe in to determine, is she innocent or is she guilty.”
- Reverse Speech analysis of Hillary Clinton concession speech
Ok guys, Hill's concession speech reversals have now been posted on David Oates Reverse Speech Youtube Channel. A bit under 3 mins. She refers twice to a media type battle coming up. And, we can all probably easily guess what that's gonna be about.
- This is How Consumers Turn into Debt Slaves
Consumer debt rose by $19.3 billion in September to $3.71 trillion, another record in a five-year series of records, the Federal Reserve’s Board of Governors reported on Monday. Consumer debt is up 6% from a year ago, at a time when wages are barely creeping up and when consumer spending rose only 2.4% over the same period. This follows the elegant principle of borrowing ever more to produce smaller and smaller gains in spending and economic growth. Which is a highly sustainable economic model with enormous future potential, according to the Fed.
- Obama's “Excellent” Conversation With Trump Is Over: “If You Succeed, The Country Succeeds”
Probably the most awkward meeting ever is now over as President Obama says that he had an “excellent conversation” with President-Elect Trump. The meeting which Trump had scheduled for 10 minutes, lasted an hour-and-a-half and concluded with Obama telling reporters that “if Trump succeeds, the country succeeds.”
- President Trump: This Is How To Bring Back 1 Million Energy Jobs
There’s work to be done. And I know you’re up for a challenge. In fact, I’m now sure of it. So let me lay out a policy position that I am truly hoping you will adopt as your own. I’m talking about natural gas as a transportation fuel: cheap, clean, abundant natural gas. And I’m talking about U.S. energy independence, balanced budgets, jobs, trade and the environment. We use natural gas for power generation and as a heating fuel but that’s an old story for a new reality. Fracking has unlocked a phenomenal amount of gas in the last decade. Our onshore wells are rivaling the reserves of the deep offshore giants. And we’re getting much more for much less these days. North America also has over 2 ½ million miles of pipeline with more coming on line plus distribution capabilities in every urban center in America and Canada. All that’s missing is an appetite for it.
- Trump Reveals Policy Goals: “Building That Wall”, End “War On Coal”, Repeal Obamacare, Dismantle Dodd-Frank
On his transition website GreatAgain.gov, the Trump team has laid out the framework of his initial policies with policies focused i) on American Security including as Defense and National security, Immigration Reform and Building That Wall, and Energy Independence; ii) Getting America Back to Work Again including Tax Reform; Regulatory Reform; Trade Reform; Education; Transportation & Infrastructure and Financial Services Reform; and iii) Government for the people including Healthcare Reform (Obamacare), Veterans Administration Reform and Protecting Americans' Constitutional Rights.
- Angela Merkel Warns Russia May Interfere In German Election Next
It appears it's not just the US voting system that has been allegedly penetrated by Vladimir Putin (at least if Trump is winning). German Chancellor Angela Merkel said on Tuesday that Russia could try to influence Germany's general elections next year through cyber attacks or disinformation campaigns, following similar accusations by Washington, which also accused the Kremlin of meddling in the US vote. Germans are scheduled to go to the polls in September 2017. Merkel has yet to announce her candidacy but is widely expected to run for a fourth term.
- The Working Class Won The Election — Paul Craig Roberts
The US presidential election is historic, because the American people were able to defeat the oligarchs. Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump. This shows that the media and the political establishments of the political parties no longer have credibility with the American people. It remains to be seen whether Trump can select and appoint a government that will serve him and his goals to restore American jobs and to establish friendly and respectful relations with Russia, China, Syria, and Iran.
- Oil Prices Stable After Initial Shock To Trump’s Election Win
Having plunged immediately after Donald Trump won the U.S. presidential vote, oil prices shook off the shock from the surprise election victory, almost pared losses, and were even trying to look up in early trade on Thursday. As of 7:11 AM (EST), West Texas Intermediate Crude traded down 0.57 percent at US$45.01, while Brent Crude was inching up 0.11 percent to trade at US$46.41. On election day, by 11:30 PM (EST), WTI Crude had slumped to US$43.72 a barrel—down a hefty 2.80 percent—as the pollsters and statisticians crunched the numbers and called first Florida, then North Carolina and Ohio for Trump, making the path for a Clinton nearly insurmountable.
- President Obama is Considering Rerouting the Dakota Access Pipeline
Amidst ongoing controversy over the Dakota Access Pipeline, President Obama has finally spoken out, saying that his administration is looking for a way to “reroute” the pipeline to avoid affecting sacred tribal lands at Standing Rock Indian Reservation. Obama mentioned the strategy during an interview with Now This, saying, “My view is that there is a way for us to accommodate sacred lands of Native Americans. And I think that right now the Army Corps is examining whether there are ways to reroute this pipeline.”
- Keiser Report: Winners & Losers (US Election Day special E991)
In this special US Election Day episode of the Keiser Report from New York City, Max and Stacy report from outside the Javits Center, where Hillary Clinton took the stage at the event that she and most pollsters and media thought would celebrate her victory. What went wrong? Former North Carolina Democratic Party Chairman Randy Voller tells Keiser Report that Hillary failed to bring in the working class vote. Author and former banker Mitch Feierstein suggests it was her alleged corruption. And credit analyst and Trump supporter Chris Whalen says that, in the end, Hillary just didn’t have the message that resonated with voters and it was Trump who had momentum and message.
- UK Quietly Deploys Warship To Guard Oil Shipping Off Yemen
The UK has deployed its most advanced warship to guard commercial shipments through a narrow strait off the Yemeni coast, through which most of Britain’s oil and gas supply travels, The Times reported on Wednesday. The deployment of the HMS Daring ship has not yet been made public due to the sensitive nature of having a British warship linked to the conflict in Yemen, the UK’s newspaper noted. According to The Times, HMS Daring was on its way to join a mission in the Gulf, but was redeployed to the Bab al-Mandeb Strait, the waterway of global trade between the Mediterranean, the Suez Canal and the Indian Ocean.
- This is What Happened to the “Trump Crash”
Overnight there were whiffs of financial mayhem. Wednesday morning in Tokyo, when it started sinking in that Trump was winning, speculators dumped stocks, and the Nikkei ended the day down 5.4%. The Asia Dow was down 3%. Then in the US, Dow futures plunged 750 points, over 4%. Nasdaq 100 futures plunged 4.5%. Futures for the CBOE Volatility Index – the “fear index” – jumped 40%. The Mexican peso plunged 11% to a record low of 20.3 pesos to the dollar at one point, its worst drop since the Tequila Crisis of 1994. Stocks in Europe were down, gold jumped, oil plunged. And America woke up to this scenario. Short sellers were licking their chops. This was the scenario they’d prepared for. Serious money could be made in this so predictable crash.
- The Navy can't fire its awesome new gun because the rounds cost nearly $1 million each
The US Navy can't fire its awesome new gun that can hit a target more than 70 miles away because the rounds are costing the service nearly a million bucks a piece. Just a couple weeks after the Navy commissioned its most advanced warship, the USS Zumwalt (DDG-1000), the service says it won't be buying any more of the guided precision munitions the ship's Advanced Gun Systems uses, called the Long Range Land-Attack Projectile (LRLAP).
- Stocks Could Crater If They Fall Below This Important Trend Line
From Dana Lyons: Some junctures are more significant than others in the markets. Coming into last week, it didn’t immediately occur to us that we were on the verge of such an important juncture across asset classes. However, the fact that our Trendline Wednesday feature on Twitter and StockTwits included an unprecedentedly large number of assets and indices suggests that we are indeed at a significant juncture.
- Edelson: Oil Will Plunge To $26 Per Barrel Next Year
Analyst Larry Edelson explains his bearish case on crude oil, which includes a huge downside forecast for next year. Hopefully you heeded my warning about why the OPEC agreement was doomed to fail, leading to a sharp decline in crude oil prices. Crude oil is down 14% from the October 19 high, OPEC is scrambling for unity and all the talking heads and newswires are touting how an OPEC deal might not happen. I hate to say I told you so, but… Plunging crude oil prices and a severe loss in credibility has OPEC playing defense and concocting a new strategy. It’s becoming increasingly important for Russia, Saudi Arabia, Iran and Iraq to sharpen their pencils and hash out a “deal” at the November 30 OPEC meeting. And still, that may not be enough to maintain relevance and engineer higher crude oil prices.
- China’s Improving Economic Data Signals Big Growth Ahead
A wave of positive economic data suggests the Chinese economy is stabilizing and that business confidence is improving. The country’s purchasing managers’ index (PMI), which measures the health of its manufacturing industry, rose to 51.2 in October, handily beating economists’ estimates of 50.3. Expanding at its fastest pace since July 2014, the industry was stimulated by a strong rebound in new orders and higher commodity prices. Output rose to an incredible five-and-a-half-year high. And with backlogs of work beginning to pile up, manufacturers trimmed employees at the slowest pace in 17 months.
- There will never be a Sound Currency System
As the gold market takes a break in its journey to much higher levels, it is good to step back a bit and understand why gold has appreciated so dramatically in the last 100 years and why this will continue for many years to come. Most people have no idea what money is. They believe that if they have 100 dollars or euros, that this represents real value as well as durability. Few people realise that their currency which they call money has nothing to do with real money at all. All paper currencies are ephemeral and return to their intrinsic value of zero. This is because reckless governments cling on to power by printing or borrowing endless amounts of fiat money in the hope that they will placate the people and buy votes. Fiat money as the name indicates, can never be real money. It is issued by edict and is not backed by anything but debt and liabilities. Power corrupts and money corrupts. It is a lethal combination which not only destroys people but also nations. And sadly, we have now reached a point in history when the unlimited amounts of fiat money that have been created will also destroy continents.
- Central Banks Have Broadcast What is About to Hit…
The biggest problem for the financial markets is not stocks nor is it the economy. It’s the Bond Bubble. Globally the bond bubble is now over $199 trillion in size. The world taken as a whole is sporting a Debt to GDP ratio of over 250%. This is a systemic issue.
- CNN Makes False Claim About Firearm Death Rates And Uses Bogus Data From George Soros Backed Small Arms Survey
CNN makes the completely false claim that the US has “one of the world’s highest rates of death by firearms.” Note most countries don’t report their firearm homicide rates, and there are many other problems that make the US’s rate look worse compared to other countries (please see here, that also provides links to data sources). Admittedly the CNN claim is based on total firearm deaths and most of those are suicides in the US, but the firearm homicide rates are so massive in other parts of the world that they swamp firearm suicides in the US. (If you use murders (not homicides that include justifiable homicides), suicides account for about 70% of firearm deaths in the US.)
- Donald Trump’s foreign policy ideas aren’t as crazy as they seem
After crisscrossing the country making his urgent last claims to the White House, Donald Trump has made it. But there is still nothing in his appearance or demeanour to suggest a president-in-waiting – at least not a president the United States has elected in recent times. His shortcomings as President-elect appear particularly glaring on foreign policy, where – so it would seem – his priorities can be summed up on the back of an envelope: bring Mr Putin in, keep the Mexicans out and make other countries pay a proper price for US protection.
- Impeachment Process Starts On French President Hollande For Disclosing Classified Information To Journalists
French president François Hollande whose approval rating is a scant 4% now faces impeachment for disclosing classified information to journalists. Given national elections take place in 2017 and given socialists would be unlikely to convict him, one has to wonder “why bother?”, yet here we go: French Right Calls for François Hollande’s Impeachment.
- Donald Trump to discuss smooth transition with Barack Obama
Donald Trump will head to the White House on Thursday to discuss with Barack Obama the transition of power. Mr Trump was elected the 45th president by defeating Hillary Clinton in one of the most divisive elections in modern US history. Speaking to reporters, Democrat Mr Obama admitted he and Republican Mr Trump have some “pretty significant differences” but “the presidency is bigger than any of us” as he vowed to ensure the transition was smooth and successful.
- US military successfully tests electrical brain stimulation to enhance staff skills
US military scientists have used electrical brain stimulators to enhance mental skills of staff, in research that aims to boost the performance of air crews, drone operators and others in the armed forces’ most demanding roles. The successful tests of the devices pave the way for servicemen and women to be wired up at critical times of duty, so that electrical pulses can be beamed into their brains to improve their effectiveness in high pressure situations. The brain stimulation kits use five electrodes to send weak electric currents through the skull and into specific parts of the cortex. Previous studies have found evidence that by helping neurons to fire, these minor brain zaps can boost cognitive ability.
- Carl Icahn Bought $1 Billion In Stocks During “Trump Crash”
As we explained first thing this morning, the market's correct reaction upon learning of the Trump presidency, was not to dump equities “limit down”, but rather to buy every risk asset in sight, now that Trump is preparing to unleash the inflation monster, something the market realized later in the trading day, leading to the biggest one-day percentage move on record in bond yields, and stock market surge that has led to a 1,000+ rebound in the Dow Jones to all time highs. However, not everyone was dumping. While the Dennis Gartmans of the world were liquidating their portfolios at lowest print of the year, warning of “fully engaged bear markets”, Trump's close confidante and person speculated to be Trump's Treasury Secretary, Carl Icahn was waving it in.
- Wikileaks: Rahm Emanuel used personal email accounts
Chicago Mayor Rahm Emanuel used personal email accounts and a personal email domain to communicate with government officials and political figures, according to a published report based on hacked emails posted by WikiLeaks. Emanuel's personal account information turned up among the thousands of emails from John Podesta, Democratic presidential candidate Hillary Clinton's campaign chairman, the Chicago Tribune reported. Clinton has come under fire for her use of a private email system because doing so potentially jeopardized classified information.
- GM Slashes 2000 Jobs, Suspends 3rd Shift On Bloated Inventories, Slowing Sales
Who could have seen this coming? Just weeks after Ford idled four factories due to slumping sales and excess inventory, GM just followed by slashing 2000 jobs permanently and suspending a third shift at production facilities in early 2017.
- Diving Into The Medical CPI: Are Your Medical Expenses Up Only 5% From Year Ago?
On November 1, I posted a couple of charts from Variant Perception that shows medical price inflation plus rent inflation is up nearly 9% from a year ago. Let’s review those charts, then take a look at a series of charts from the St. Louis Fed data repository on medical expenses alone.
- Trump Victory Crashes Chinese Yuan To Record Low
After a brief few hours of rallying overnight as early indications tilted towards Clinton, the moment Florida was called for Trump, China's offshore Yuan started to crash. Just hours later it has dropped 5 big figures to a record lows of over 6.82/$ despite China's officials preferring him. The selling panic started as Trump took the blead in Florida and several other battleground states… Which is a new record low for the offshore currency…
- China Is Suddenly Dumping Treasuries
While we admit that “suddenly” is not exactly the right word to describe China's selling of US Treasurys, which has been steadily liquidating its UST reserves over the past two years, something changed today, when in a violent move starting around the time of the Trump election was guaranteed after midnight, the offshore Yuan, the CNH, has been a one way street of non-stop selling, indicative however, of much more than just the relative strength of the dollar. In fact, as the chart below shows, the selling in the Yuan appears to be closely correlated to today's unprecedented liquidation in US Treasurys…
- President Obama Explains Why It's All Hillary's (And Putin's) Fault – Live Feed
Having exclaimed for months on the campaign trail that he’d consider Donald Trump’s election a personal repudiation, President Obama is face with the harsh reality that it was him that was “peddling fiction” while ‘rome' burned. We suspect the blame-mongering will begin very quickly as former Obama senior adviser Dan Pfeiffer tweeted last night: “The most shocking part of tonight is the number of people who approve of Obama but didn't vote for Hillary Clinton.” The question is – will Obama move to Canada.
- Obamacare Melts Down
When Obamacare was first passed, Vice President Joe Biden famously said it was a “big f—ing deal.” Now, though, there's a surprising level of bipartisan agreement that it's a big honking disaster. There had been many warning signs, but last week it became official: Obamacare premiums are going up next year by an average of 22 percent. And bear in mind this is an average. Our colleague Mary Katharine Ham wrote an eye-popping column at the Federalist about how her own Obamacare premiums are increasing by 96 percent in the coming year.
- Five Reasons You Should Blame The Economics Discipline For Today's Problems
We are experiencing deep economic problems and it is the fault of the economics discipline. Their macro theories suck. But, there is no mechanism forcing it to alter its models when they don’t appear to work. This is so because economists basically write for each other in a language only they understand and their jobs depend on impressing a limited number of journal editors and referees, not correcting real-world problems. The academic inbreeding that has resulted has led to dysfunctional theories and, despite the fact that there were economists who accurately forecast the Financial Crisis, because their work is incompatible with what is published in “good” journals it has been all but ignored. Economics is broken and there is no internal incentive to fix it.
- Multi-Billionaire Hugo Salinas Price – ‘I Have Serious Doubts About The Survival Of Our Civilization’
As the world awaits the outcome of the election in the United States, some time ago multi-billionaire Hugo Salinas Price told King World News in stunning fashion what he believes to be the frightening plan to control the world going forward. He described the people planning this as “barbarians,” and said, “this is not going to end well.” He also issued this ominous warning, “I have very serious doubts about the survival of our civilization under such people.” Below is what the multi-billionaire had to say in this incredibly powerful interview. These People Are “Barbarians”. Hugo Salinas Price: “With regards to the social question in the world, in 1929 a Spanish thinker by the name of Ortega y Gasset wrote a book that really shook up the world titled, ‘The Revolt of the Masses.’ He was talking about the appearance on the world stage of new individuals. He was writing about the growth of the population and the appearance of new individuals coming in to the mass of humanity. And these individuals evidently are (what he described as) ‘barbarians.’….
- Bitter Irony: San Francisco, Los Angeles, San Jose have the Worst Roads in America, Worse even than Detroit
That the streets are in terrible shape in San Francisco is clear when I step out of the house, look at the pavement I need to cross, and think: “I should have put on my hiking boots.” To its credit, the city has been repaving streets in sections of a few blocks here and there. Those repaved sections look civilized, until you get to the next intersection. But now we know, sort of officially: the streets in San Francisco are in the worst condition of any major urban area. Even compared to smaller cities, only Concord, also in the Bay Area, outshines it.
- Greenspan Predicts Bond Yields Rising As High As 5%
While the world has learned to take Alan Greenspan's forecasts with a grain of salt, earlier today the former Fed chairman was on Bloomberg TV with another bombastic prediction, warning of a substantial surge in US long-term interest rates should “inflation take hold.” In the interview, Greenspan said that “if the early stages of inflation, which are now developing, would take hold, you could get — fairly soon — a fairly major shift away from these extraordinarily low yields on 10-year notes, for example,” Greenspan said in an interview on Bloomberg Television on Monday. “I think up in the area of 3 to 4, or 5 percent, eventually. That’s what it’s been historically.”
- Student, Auto Loans Hit New All Time High Of $2.5 Trillion As Consumer Credit Jumps By $19 Billion
The Fed's latest consumer credit report revealed that in September, overall household credit rose by a greater than expected $19.3 billion, above the $18 billion expected, if below last month's near-record $26.8 billion. There were no major surprises in the components of overall credit, with revolving, credit-card debt rising by $4.2 billion, in line with the increase observed in recent months. The ongoing increase in revolving debt, means the total amount of credit card debt outstanding has nearly caught up with the $1.02 trillion peak reached during the credit bubble.
From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a special summary of articles shared this week from just before the election to its aftermath. However, as election fever was gripping the USA there were other things going on around the world that you may have missed. Please review the following articles. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
Latest News From November 4, 2016 to November 9, 2016:
- President-elect Donald Trump’s cataclysmic, history-making upset
What Donald Trump has done is nothing short of cataclysmic. He has fundamentally reshaped the political map. He has broken the Republican Party into pieces — and its shards still remain scattered everywhere. He has proven that the political polling and punditry industries need a deep re-examination. But, even more than all that, Trump's victory reveals that many of the assumptions that people have long made about who we are as a country and what we want out of our politicians, our political system and each other are, frankly, wrong.
- After Trump’s victory, the world is left to wonder: What happened to America?
Allies recoiled. Adversaries rejoiced. And on the day after U.S. voters made Donald Trump the country’s 45th president, the world was left to collectively wonder: What happened to America? The question hung in the air even as once-unthinkable congratulatory messages poured into Trump Tower from capitals across the globe. Foreign leaders who had spent months disparaging the Republican nominee as unfit for office were forced to reckon with the reality that he will soon govern the world’s sole superpower. U.S. foes who may have only dreamed of a Trump presidency seemed to scarcely believe their good fortune.
- Donald Trump shocks world, wins presidential election in biggest upset in political history
Donald Trump overcame all odds Wednesday, riding the wave of an unprecedented populist movement to put himself in line to be the 45th president of the United States. The Republican presidential nominee secured the 270 electoral votes needed to win the White House. In doing so, he completed the biggest upset in modern political history, beating his Democratic challenger, former Secretary of State Hillary Clinton, as well as one of the most promising fields of Republican candidates in a generation.
- European markets actually had a great day despite Trump's shock victory
Stocks across Europe closed deep in positive territory on Wednesday, rallying back from an initial crash as the shock of the fact that Donald Trump is the next president of the United States. All of Europe's biggest bourses were significantly down soon after the European open, crashing lower thanks to the uncertainty that a Trump presidency brings to the markets. Trump and his economic positions are seen as far less predictable than those of Hillary Clinton, and do not always follow party orthodoxy. As such he is perceived as more of a political risk than Clinton, causing the huge reactions in the markets overnight, which have continued into European trade.
- Regardless of How America Votes, Americans Want a Different Foreign
I have said throughout this presidential campaign that it doesn't matter much which candidate wins. Both Donald Trump and Hillary Clinton are authoritarians and neither can be expected to roll back the leviathan state that destroys our civil liberties at home while destroying our economy and security with endless wars overseas. Candidates do not matter all that much, despite what the media would have us believe. Ideas do matter, however. And regardless of which of these candidates is elected, the battle of ideas now becomes critical. The day after the election is our time to really focus our efforts on making the case for a peaceful foreign policy and the prosperity it will bring. While we may not have much to cheer in Tuesday's successful candidate, we have learned a good deal about the state of the nation from the campaigns. From the surprising success of the insurgent Bernie Sanders to a Donald Trump campaign that broke all the mainstream Republican Party rules – and may have broken the Republican Party itself – what we now understand more clearly than ever is that the American people are fed up with politics as usual. And more importantly they are fed up with the same tired old policies.
- Gold price retreats after initial surge on US election result
The price of gold fell back from the sharp gains made earlier on Wednesday, after a conciliatory victory speech from U.S. president-elect Donald Trump also helped the dollar rebound. Gold had surged by nearly 5 percent to a six-week high of $1,337.40 an ounce as it emerged that the Republican nominee had triumphed over Democrat Hillary Clinton in the presidential election, a surprise for markets which prompted investors to seek refuge in perceived safe-haven assets like gold.
- Putin Congratulates Trump on Victory in US Presidential Election – Kremlin
Russian President Vladimir Putin congratulated Donald Trump on his victory in the US presidential election, voicing hope that joint work will resolve the crisis in bilateral ties, the Kremlin said Wednesday. According to Kremlin, President Putin sent a telegram to Donald Trump, congratulating him on his victory in the US presidential election and wishing him success in taking on the serious task of being head of state.
- Donald Trump wins the presidency, hails ‘beautiful and important' win
Donald John Trump will be the 45th president of the United States, capping a historic and boisterous run by an outsider who captured a loyal following across a swath of America fed up with establishment politics, the news media and elected officials. His success was only part of a larger, crushing victory for the Republican Party, which retained the House and maintained control of the Senate.
- Trump win upsets global markets
Global stocks suffered a sudden and sharp reversal of fortune early Wednesday as Republican candidate Donald Trump looked increasingly likely to become the 45th president of the United States. By the time he was declared the winner at 07:45 GMT, the Dow Jones industrial plummeted 827 points, the S&P 500 was down 107 points, and the Nasdaq 100 lost 241 points. A frenzied selloff at the New York Stock Exchange picked up pace as Democratic candidate Hillary Clinton lost key battleground states, leading to a five per cent drop in value of US stocks. This triggered an automatic circuit breaker halt on trading.
- Trump Wins 2016 Presidential Election & Saves America
This is my take on the big Trump win that saves the country and the rule of law in America. We are going to get a market selloff, but at least we will only have to deal with economic problems created by the criminal crony class and not the additional full blown tyranny of a Clinton Administration. The financial markets will be in turmoil, and the fantasy economy is about to meet reality. Savor the Trump win, but be prepared for a lot of work and financial pain. Join Greg Hunter for his take on the coming Trump Presidency and what it means for the winners and losers of the 2016 election. There are big winners and very big losers. I always say “Fear Not, God the Father is in charge,” and he proved it tonight.
- AS IT HAPPENED: Donald Trump wins the White House and markets go haywire
Donald Trump has been elected the 45th president of the United States. Trump’s win came as a shock to investors and sent markets into a tailspin through the night on Tuesday and into the pre-dawn hours of Wednesday. The market’s nadir came at 11:55 p.m. ET, when the S&P 500 went limit-down after a 5% decline, meaning trading below this level would be halted until Wednesday morning. Near 2:30 a.m. ET, when the Associated Press called the election for Trump, Dow futures were down about 520 points and S&P 500 futures were off 3.4%.
- Clinton Concedes: Donald Trump Becomes 45th U.S. President
And NBC News reports that Hillary is said to have conceded on phone with Trump. CNN's Dana Bash is also reporting that Hillary Clinton has called Donald Trump to concede the race, matching the earlier report from NBC News.
- Donald Trump Is Elected President in Stunning Repudiation of the Establishment
Donald John Trump was elected the 45th president of the United States on Tuesday in a stunning culmination of an explosive, populist and polarizing campaign that took relentless aim at the institutions and long-held ideals of American democracy. The surprise outcome, defying late polls that showed Hillary Clinton with a modest but persistent edge, threatened convulsions throughout the country and the world, where skeptics had watched with alarm as Mr. Trump’s unvarnished overtures to disillusioned voters took hold. The triumph for Mr. Trump, 70, a real estate developer-turned-reality television star with no government experience, was a powerful rejection of the establishment forces that had assembled against him, from the world of business to government, and the consensus they had forged on everything from trade to immigration.
- Live Presidential Forecast
Donald J. Trump has won the presidency. Below, our estimates of three key indicators. he projections for each state are based on the votes reported so far and how those places have voted in previous elections. We’re showing the closest states by default.
- NATO Places 300,000 Troops On “High Alert” In Readiness For Confrontation With Russia
NATO a preparing a military force of up to 300,000 personnel, capable of being deployed within just two months to attack Russia. As the world remains fixated on the outcome of Tuesday’s US elections, NATO continues its aggressive troop build up around Russia. With each passing day, the constant NATO activity is looking more and more like a preparation for full scale conflict with Russia. Something that would become a very real possibility should Hillary Clinton make it to the White House.
- The Greatest Wealth Transfer In History Nears As ‘Deep State’ Now Pulling Out All The Stops
On election day, today John Embry told King World News that the greatest wealth transfer in history nears as the ‘Deep State’ is now pulling out all the stops. ‘Deep State’ Desperation. John Embry: “Eric, mercifully election day in the U.S. has finally arrived to put an end to the ugly spectacle which has been billed as the presidential campaign. The capper came on Monday, when in response to the FBI ending its investigation of Hillary Clintons email transgressions, the Dow magically rallied back to 18,200, a level which had been defended for months by the powers that be…
- This is “Unusual Outside a Recession Period”: New York Fed Grapples with Weak Demand
The dollar has strengthened against other currencies since mid-2014 as the Fed was tapering QE Infinity out of existence, and as it began flip-flopping about rate increases. Dollar strength should have done two things in terms of international trade: Weaken exports as US goods would become less competitive for buyers using other currencies; Strengthen imports as imported goods would be cheaper compared to US-made goods. The first has happened. But the second has not happened: Imports have been in a down-trend since mid-2015.
- Uncertainty and uncertain outcomes bode well for gold
A lot of us were looking forward to today, it signals the last day of election-mania and we might all be able to get on with our lives, whatever that means under whoever wins. The problem is, today might not be the last day of uncertainty. Trump has already said that he will keep us in suspense as to whether or not he will accept a Clinton win, this has been followed by many cries of ‘rigged’ from both Trump and his cohort. The other factor is that the election might be so close that it is too close to call and we see another Bush-Gore debacle. Should there be an unclear winner tomorrow, or if Trump wins, then what will this mean for gold?
- As The World Awaits The U.S. Election Outcome, Buckle Up For Some Rough Times
As the world awaits the outcome of the election in the United States, buckle up for some rough times. James Turk: “Everybody who I speak with here in London, Eric, asks me about the US election. I’ve never seen anything like the amount of interest it has sparked. Without any doubt the election has grabbed the attention of people from around the world…
- ALERT: Former Soros Associate Just Warned This Is Going To Send The World Into Total Chaos
As investors await the outcome of tomorrow’s election, a former associate of George Soros just warned King World News about what is going “to send the world into total chaos.” Victor Sperandeo manages over $3 billion, has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros. Below is what Sperandeo had to say. Victor Sperandeo: “The days of low interest rates are over. This is very important for people to understand, Eric. There will be no more lowering of interest rates and QEs…
- Keiser Report: Picking next ‘tin-pot’ for America
We discuss pushing tinfoil and possible election outcomes. Max talks to the people of New York by visiting Times Square and finds not only a divided electorate but a colourful and . . . sometimes angry one. In the second half Max talks to Chris Whalen about his reasons for voting for Trump and whether or not a Clinton 2.0 would actually be a Nixon 2.0.
- Look At What Is Unfolding In China And Other Key Regions Right Now
With stocks surging along with the U.S. dollar and gold and silver getting hit, here is a look at what is unfolding in China and other key regions right now. Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness: It IS the best of times, it IS the worst of times, it is the age of wisdom, it is the age of foolishness, it is the epoch of belief, it is the epoch of incredulity, it is the season of light, it is the season of darkness, it is the spring of hope, it is the winter of despair, we have everything before us, we have nothing before us, (I switched the Tale of Two Cities lines from Was to Is and to Have from Had), etc… The former because the most bizarre and embarrassing presidential campaign in our life time is about to end. The latter because someone is going to win…
- What Hath Trump Wrought?
“If I don’t win, this will be the greatest waste of time, money and energy in my lifetime,” says Donald Trump. Herewith, a dissent. Whatever happens Tuesday, Trump has made history and has forever changed American politics. Though a novice in politics, he captured the Party of Lincoln with the largest turnout of primary voters ever, and he has inflicted wounds on the nation’s ruling class from which it may not soon recover. Bush I and II, Mitt Romney, the neocons and the GOP commentariat all denounced Trump as morally and temperamentally unfit. Yet, seven of eight Republicans are voting for Trump, and he drew the largest and most enthusiastic crowds of any GOP nominee.
- This is Going to End Badly, Buy Gold Now
Most assets by traditional valuations are overpriced. Now are they overpriced compared to zero interest rates or negative interest rates? If you take the 10-year German bonds or the 10-year Swiss bonds or the 10-year Japanese bonds, you have no or negative yield. But you can buy equities that give you a dividend yield of 2 percent or more. Then you say stocks compared to negative interest rates are a bargain. But they are not cheap by traditional valuation methods. However, I think it’s dangerous for someone to say: “We all agree that it will end badly, so we keep 100 percent of our money in cash.” First, you have to decide which cash.
- Paranoia Deepens in US as Cyber-attacks Prepare Post-Election Tumult
Paranoia makes whole populations manipulable. Over time, crisis after crisis, it builds globalism and creates cultural homogenization. Just today, WikiLeaks claimed it had been hit with a Distributed Denial of Service (DDoS) attack, supposedly to prevent it from distributing additional information that would prove negative to the Clinton camp. This is part of a much larger paranoiac atmosphere. Paranoia is running rampant in US federal elections. We recognize the paranoia because we’ve covered the trends that cause it for years.
- The Destiny Of The World
With continued uncertainty in global markets, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, spoke with King World News about the destiny of the world. Egon von Greyerz: “Eric, the destiny of the world economy is not going to be determined by what happens to Brexit or the U.S. election. Of course the election can be a catalyst but it won’t be the reason for what will happen next.
- Will The Globalists Allow Trump to Win The Selection – Financial Survival Network
Jeff is interviewed by Kerry Lutz for the Financial Survival Network. Topics include: Hillary Clinton owned by the elite, Brexit shows that the elite are starting to lose control, people wanting change, Trump an insider, if elected nothing much will change, may be allowed to win, doesn’t really matter who wins, Clinton on her last legs but Trump highly energetic, an entertaining election, media manipulation, the G7 and Bilderberg, election 2017!
- Feeling The Oil Crunch: Saudi Arabia Cancels $266 Billion In Projects
Saudi Arabia’s governing economic body called the Council of Economic and Development Affairs (CEDA) has cancelled $266.7 billion in projects, the Saudi Press Agency said, and announced it would be settling much-delayed private-sector payments by year end. The projects that have been canceled are the ones that are not expected to accelerate the kingdom’s growth or improve the living standards for its people. The cancellations were first considered in September, but at the time, it was noted that only $20 billion in projects would be considered to put on the chopping block. The size of the delayed payments—mainly due to severe hits to the kingdom’s oil revenue—remains undisclosed, but it includes delayed payments to construction firms, medical establishments, and foreign consultants. One analyst, according to Reuters, estimated that the amount still owing just to construction firms was US$21 billion. The 2016 budget deficit will not be known until late December, when Saudi Arabia announces its 2017 budget plan.
- Pope Francis is at it Again
As if there are not enough sufficient reasons for right thinking individuals to want a Donald Trump Presidency, one of the biggest is that it would be a direct and quite necessary rebuke and humiliation of the purported head of the Catholic Church, Pope Francis. Bergoglio has once again injected his neo-Marxist self into areas where he has no right to interfere. Of course, this has never stopped this cretin from doing so before, especially when it comes to liberalistic causes such as climate change. Whatever happened to popes that preached the Gospel, spoke of the saints, or expounded on doctrine? In a speech given at the Vatican on November 5, Bergoglio spoke of not giving into those politicians who talk of building walls, but those who work to build bridges. He condemned “physical and social walls” that “close in some and exclude others” and added: “mercy is the best antidote against fear” while it “is much more effective than walls, than barbed wire fences, than alarms and arms, and it is free. It is a gift of God.”
- America’s Ruling Elite Has Failed and Deserves to Be Fired
America’s Ruling Elite is freaking out because a significant percentage of the American public is trying to fire them. The Ruling Elite has failed and deserves to be fired, and deep down, they know it–and this awareness of their self-serving failure fuels their panic and their loathing of the non-elite Americans who are trying to fire them. If you think this chart of soaring student loan debt is a sign of “success,” you are 1) delusional 2) protected from the dire consequences of this failure 3) getting your paycheck from this failed system. That in a nutshell is the state of the nation: those who are protected from the consequences of failure are loyal to the Establishment, as are the millions drawing a paycheck from systems they know are irredeemable failures.
- WARNING: Don’t Worry If the Stock Market Goes Crazy After Election
In the hours after the president is elected, equity investors need to brace for volatility. What they shouldn’t do is panic. That’s because regardless of how prices react on Nov. 9, next-day moves in the S&P 500 Index are useless in telling what comes after. While the index swings an average 1.5 percent the day after the vote, gains or losses over the first 24 hours predict the market’s direction 12 months later less than half the time.
- The cost of this Congressional seat increased 23.5x in 6 years.
What do you think have been the best performing assets over the past several years? Perhaps it’s Facebook stock, whose price is up 3.2x since it debuted in 2012. Or maybe Apple, whose stock has soared 4x since 2010. But neither of those companies’ stock performances holds a candle to Colorado’s sixth Congressional district. Back in 2010 when incumbent Rep. Mike Coffman handily won the race, total election spending that year, including funds from PACs and other outside groups, totaled $758,926. Fast-forward six years, and Colorado’s 6th district is now fetching $17,866,308 in total election spending. That’s a 23.5x increase in just six years, putting Apple’s stock performance to shame.
- Stock Market Volatility, Gold and the Election
Before this Monday, the S&P 500 Index went down nine days in a row. While this was almost unprecedented (or in any case, a very rare event) the decline was quite small overall. The timing of the pullback and the subsequent strong rebound on Monday suggests that Mr. Comey’s letters to Congress regarding the FBI investigation into official emails by Hillary Clinton – which have found their way unto a computer owned by Anthony Weiner (the former husband of Clinton’s right-hand woman Huma Abedin) – were the “trigger” for these moves.
- We're In An Asset Bubble With Good Chances Of Popping: Structured Finance Consultant Janet Tavakoli
Artificially low interest rates push investors into stocks in a precarious bubble. No large banks engaged in derivatives have a good grasp of their risk. Post-financial crisis changes are cosmetic, financial system not safer. Wall Street has bought Washington. Why bank managers in scandals are ever punished. Captured, compliant zombies won’t challenge gross misrepresentations of economic facts.
- For Deutsche Bank, This Is The “Brexit Panic” Signal In Today's Election
While pre-election polls overhwhelmingly give Hillary Clinton the advantage ahead of tonight's result, with Reuters reporting “Clinton has 90 percent chance of winning: Reuters/Ipsos States of the Nation”, many banks and brokers – still hurting from the Brexit calamity – aren't taking chances. Some of the more prominent industry names, such as Morgan Stanley, JPMorgan and Goldman Sachs are bracing for potential tumult on financial markets after Tuesday's U.S. election should Trump win. As the outcome of the most bitterly fought U.S. presidential elections starts to roll out by Wednesday in Asia, the regional markets will be the first to trade on the results. Reuters writes that as a result, Asia-focused banks HSBC and Japan's Nomura Holdings Ltd are among institutions boosting staff levels, while others are raising the margin requirements for trading to cope with a possible spike in volume or volatility.
- Major Money Managers Are Hedging Against a Trump Presidency
From Tyler Durden: Major bankers around the world are prepping for the potential fallout from a Donald Trump presidency, despite Hillary Clinton seemingly firmly ahead in the polls. While pre-election polls overwhelmingly give Hillary Clinton the advantage ahead of tonight’s result, with Reuters reporting “Clinton has 90 percent chance of winning: Reuters/Ipsos States of the Nation“, many banks and brokers – still hurting from the Brexit calamity – aren’t taking chances. Some of the more prominent industry names, such as Morgan Stanley, JPMorgan and Goldman Sachs are bracing for potential tumult on financial markets after Tuesday’s U.S. election should Trump win.
- Collapse: Elite Planning An Engineered Reset?
Jeff Berwick joins SD to discuss the coming economic collapse. Berwick believes TPTB realize the system cannot survive and are going to engineer a collapse. He says governments around the world, international organizations, and billionaires realize the writing is on the wall & are preparing for the coming crisis…
- Private Militia Groups Actively Preparing For Fraudulent Hillary Win
Tomorrow is the day that could forever change the trajectory of this country, and there is certainly no shortage of people who have theories on how the day will end, or who will emerge victorious. With less than 36 hours until the polls close, one thing is certain: Anyone who planned on being prepared for the potential of massive civil unrest, had better have done so already. In the following video, I am joined by a very special guest, Ronnie McMullen, who has made it his life’s work trying to counter the negative side effects of what one of Hillary Clinton’s largest supports is producing. Ronnie joins me to discuss what how several possible election scenarios could play out, and what each could mean for the future and the health of the country.
- Julian Assange Issues Statement On The US Election
In recent months, WikiLeaks and I personally have come under enormous pressure to stop publishing what the Clinton campaign says about itself to itself. That pressure has come from the campaign’s allies, including the Obama administration, and from liberals who are anxious about who will be elected US President. On the eve of the election, it is important to restate why we have published what we have.
- This Election Marks the Beginning of Volatility
Volatility is high going into this election (because nobody knows what will happen, and there is a lot at stake). People think that after the election, the uncertainty will be out of the way, and volatility will subside. Will it? Here are the ways this election could go wrong. Let’s think about this a little bit.
- Bill Holter and Jim Sinclair on the Looming Global Economic Collapse
Recently, Greg Hunter was fortunate enough to be interviewed by legendary investors Jim Sinclair and Bill Holter from JSMineset.com. During the first portion of the interview, Bill and Jim ask Greg Hunter from USA Watchdog a series of questions in an attempt to get his opinion on the state of “journalism” as a whole, or what some would more properly refer to as “propaganda” if it’s coming from the mainstream media. Jim and Bill also do their best to get a read on what many of the other guests have predicted about the economy over the last few months when they've had the chance to visit with Greg on USA Watchdog.
- Voting Machine “Irregularities” Reported in Utah, Tennessee, Pennsylvania, & North Carolina
Who could have seen this coming? People in numerous states reported problems voting Tuesday due to faulty machines, according to numerous news sources. Pennsylvanians told CBS News their vote for Trump was changed to Clinton…
- Early Voting Results In Key Battleground States Appear To Favor Donald Trump
If you want Donald Trump to win the election, then you have got to be encouraged by what you are seeing so far. Early voting has already been going on in a number of the most important battleground states, and up to this point the numbers seem to support the theory that Donald Trump is doing significantly better in key swing states than Mitt Romney did in 2012. As you will see below, the latest numbers released by Florida, North Carolina, Colorado and Arizona all have good news for the Trump campaign. Without a doubt, I still have an ominous feeling about what is going to happen tomorrow night, but so far at least there are some encouraging signs.
- Your Complete Guide To Election Day And Night: What To Watch For And When
It's almost over: the most divisive, theatrical, dramatic and dirty presidential campaign will be in the history books in just a few hours, with more than 130 million Americans expected to cast ballots across 50 states. However, just winning the popular vote will be insufficient: indeed, it may well be that the popular-vote winner does not win the electoral college. So which states should one be looking at, and how long is the final day's drama set to continue? For the benefit of the traders out there, last week we showed a primer from Citigroup explaining when traders can hope to go home on election evening, according to which it was “all about Florida, North Carolina and Ohio.”
- Hillary Clinton Is Spirit Cooking The US
I heard the term “spirit cooking” for the first time a few days ago. At first I assumed it was some form of culinary style that was done in a spiritual way. Boy was I wrong. Reports on the internet are actually referring to a meal involving “blood, sperm and breastmilk.” The term was mentioned in an invitation to John Podesta, chairman of the Clinton campaign. Podesta didn’t go to the dinner involved, apparently, but the term and its ingredients made considerable news on the internet. As I thought about the term more and more it seemed to be an appropriate fit for the Clinton campaign. This became especially clear in the news earlier today when the FBI managed to “review” 650,000 emails in nine days (after taking a year to review 33,000 previous ones) and they also determined that none of them would have an impact on their July decision to clear Hillary Clinton of “leaking” classified documents.
- Europe's New Blasphemy Courts
Europe is currently seeing the reintroduction of blasphemy laws through both the front and back doors. In Britain, the gymnast Louis Smith has just been suspended for two months by British Gymnastics. This 27-year old sportsman's career has been put on hold, and potentially ruined, not because of anything to do with athletics but because of something to do with Islam. Last month a video emerged online of the four-time Olympic medal-winner and a friend getting up to drunken antics after a wedding. The video — taken on Smith's phone in the early hours of the morning — showed a friend taking a rug off a wall and doing an imitation of Islamic prayer rituals. When the video from Smith's phone ended up in the hands of a newspaper, there was an immediate investigation, press castigation and public humiliation for the young athlete. Smith — who is himself of mixed race — was forced to parade on daytime television in Britain and deny that he is a racist, bigot or xenophobe. Notoriously liberal figures from the UK media queued up to berate him for getting drunk or for even thinking of taking part in any mockery of religion. This in a country in which Monty Python's Life of Brian is regularly voted the nation's favourite comic movie.
- Nigel Farage forced to admit that the EU referendum was only ‘advisory'
Nigel Farage was forced to admit the referendum on leaving the EU was only “advisory” after he clashed live on TV with the lead claimant in a legal challenge to the Government on the issue. The Ukip leader and Gina Miller, whose efforts led the High Court to rule against Theresa May’s right to trigger Article 50 without consulting Parliament, both appeared on the Andrew Marr Show on Sunday morning. After the pair had both been interviewed separately, Mr Farage challenged Ms Miller saying: “I just want to ask her – what part of the word ‘leave' don't you understand?”
- Rigged vote-counting is the Holy Grail of collectivism
The mantra of collectivism is: “The greater good for the greater number.” The idea is that anything can be justified as proper and moral, even deception, theft, denial of rights, and killing innocent people, if it is claimed that these things are done for the good of society or the nation. That is the moral code that allows national leaders to lie about anything and commit horrendous crimes against their own countrymen under the excuse of ‘national security’.
- The Bond Bubble Might Finally Be Bursting
For years, global central banks have pushed back with extraordinary easy-money policies, delivering ultra-low and even negative interest rates worldwide. And for years, financial commentators … including my colleagues Larry Edelson, Mike Larson and myself … have been predicting this will end very badly one day – when the spell of omnipotent central banks is forever broken and investors reject government debt of any kind. Well, 2016 may go down in the financial history books as a real game-changing year: The end of the great bull-market bubble in bonds.
- Stocks Will Likely Crash If Trump Wins
Analyst Chad Shoop explains why the markets will likely sell off considerably if Donald Trump wins next week’s election, and what investors can do to hedge against the pullback. When I want to make sure my 7-year-old son has put thought into a debate we are having, I put money on the table. It doesn’t matter if we are debating whether or not a wide receiver got both feet inbounds, or if my son’s done his chores for the week. He will tell me whatever I want to hear at first — that he made his bed or cleaned up his room. But the second I say, “You owe me $20 if it’s not done,” he will think about it more, or run to his room to check. Putting money on the line makes it real to him.
- Anarchast: The Libertarian Take on the North Dakota Pipeline Dispute with Derrick Broze
Jeff interviews Derrick Broze, topics include: Derrick was at the Dakota access pipeline project protests, the Standing Rock Sioux resistance movement, a collision of cultures, sacred burial sites, stopping the pipeline, water is life, the biggest indigenous solidarity movement in history, the red power movement, property rights, the state is working with the oil companies, the land was never ceded, Iowa farmers also resisting, stateless environmental protection, first hand account of the protests including provocateurs, state violence and police militarization, freedom cells, agorism, spiritual ties to the land, a better life for all.
- Billionaire Fund Manager Expects Stocks to Plummet 80% – But When?
One of the trends TDV watches closely is the inevitable unraveling of markets, especially equity markets. The stock market has been weaponized by disastrously low interest rates and it is only a matter of time before catastrophe occurs. Just a matter of months, weeks, days or hours. We’re not debating the magnitude of the catastrophe anymore, just the timing. Of late, the markets have been looking increasingly shaky. In fact the VIX volatility index is up while many major indices are down.
- The Presidential Cycle
The market has been very readable since before Brexit. It was over bearish and due for a post-Brexit rally check. It was due for a drop to test major support check, but amid last week’s highly broadcast 9 straight down days and the renewed Clinton email scare, it was due for a bounce from over bearish status check. However, this is not the end of the story. We remain on a test of major support unless certain upside resistance parameters are taken out. Beyond this highly volatile phase, we are likely either going to confirm major support and potentially break out to new highs or a bear market will ensue. Figuring prominently in the short-term is the US election. Here is NFTRH 420’s weigh-in on something I almost never want to comment on but did in this week’s report, given Donald Trump’s ‘overbought’ status last week.
- Civil War II – Fourth Turning Intensifying
As we enter the final stretch of this vitriolic, deplorable, venomous, propaganda saturated, deceitful, rigged presidential election spectacle, it becomes painfully obvious this Fourth Turning is careening toward bloodshed, bedlam, confrontation, and civil war. The linear fixated establishment, who fancy themselves intellectually superior to the irredemables, are too blinded by their sociopathic, increasingly audacious subversion of the Constitution, to grasp the level of rage and disillusionment of a white working class that has been screwed over for decades.
- Reforming the Fed: Where the Candidates Stand
With presidential candidates, sometimes it’s tough to cut through the political minutia to find out what they think about important issues. The debates didn’t seem to shine much of a light on topics like the Federal Reserve and interest rates, so here’s a quick look at how Clinton and Trump are leaning when it comes to reforming the Fed.
- Will The Election End America’s Torment?
Enemies of the United States are joyously watching its upcoming elections that are exposing this once great nation as deeply corrupt. It’s as if a huge rock has been turned over, exposing the swarming, slithering underside of America’s political system. For those who admire America, like this writer, this week is a time to weep for the republic. We see two candidates who are utterly unfit for the highest office: Hilary Clinton, engulfed by scandals, and blustering TV mogul Donald Trump, a man of profound shallowness who advocates Islamophobia, torture, and environmental ignorance.
- Clinton Foundation Head Accused Chelsea Of Using Funds For Wedding, Campaigning, And Avoiding Taxes
Doug Band, the former top aid to Bill Clinton who helped found the Clinton Global Initiative, accused Chelsea Clinton of illegal activities by using foundation money to pay for her wedding and getting paid to campaign, all while avoiding paying taxes. After Chelsea had launched an investigation into the foundation’s finances under Band’s control, an angry Doug Band email Hillary Clinton’s campaign chairman John Podesta to complain. Band called Chelsea’s actions, “not smart.”
- Everybody Is Telling Me That Trump Is Going To Win – So Why Do I Have Such An Ominous Feeling?
I hope that I am wrong. On Tuesday night we will find out who our next president will be, and I have a very ominous feeling about what is going to happen. But all around me there are people telling me that Trump is going to win. They tell me to disregard the polls because they cannot be trusted, and that very well may be true. They tell me that new voters and independent voters will overwhelmingly vote for Trump, and they tell me that it is obvious that Trump has more enthusiasm for his campaign because of the size of his rallies. I have even heard some people say that God told them that Donald Trump is going to win the election. Well, we will find out on Tuesday night who was right and who was wrong. Personally, I don’t know what is going to happen, but I am quite skeptical of Trump’s chances and I can’t shake this ominous feeling about what Tuesday night will bring.
- Trump Reportedly Lining Up Septuagenarians Giuliani and Gingrich for Cabinet
If Donald Trump bucks the odds and wins tomorrow’s election, he’s planning to offer cabinet positions to a handful of fiercely loyal surrogates who refused to jump ship during his often messy campaign. Among them are former New York City mayor Rudy Giuliani and onetime Speaker of the House Newt Gingrich, NBC News reports.
- Nevada Penalizes Solar Energy Users With Hefty 40% Tax Increase
An absurd monthly fee imposed on solar customers was just voted in by the Nevada Public Utility Commission (PUC), virtually penalizing net metering (NEM) users of the renewable energy and in a sense, screwing these guys over after making the investment to go solar. Yip-dee-doo! Photo credit: Kristine Lavine, Denver Business Journal. Such is the current state that Nevada is in right now after it turns out that consumers opting with solar energy in the state are eating up on the potential profit that NV Energy should have. And in order for the company to combat this, they were able to coerce lawmakers to make solar energy insanely expensive – in hopes of convincing people to just stay blindly on the grid and stop being so ‘hippy’.
- New Study Highlights Environmental Impacts Of Green Energy
Wind and solar power aren’t as environmentally friendly as green energy activists often claim, according to a new study by scientists at Uppsala University in Sweden. Researchers noted that wind turbines and solar panels are made of non-renewable resources that have to be dug out of the ground. Both solar and wind power use a lot of land and water, leading to habitat destruction. Additionally, hazardous materials like sulfuric acid and toxic phosphine gas factor in heavily in solar panel manufacturing. Modern wind turbines are also highly dependent on rare earth minerals mined primarily from countries with poor environmental records, like China.
- UNSG hails Paris Climate Agreement entry into force
United Nations Secretary-General Ban Ki-Moon as hailed the entry into force of the Paris Climate Agrement and its speedy ratification by 96 countries around the world. “Today we make history in humankind’s efforts to combat climate change,” Ban told a gathering of activists combating climate change at UN Headquarters in New York. He compared the Paris Climate Agreement, which was agreed to in December 2015 as having been done in “record time” when compared to the Kyoto Climate Agreement of 1997, which took eight years to come into force and was largely dismissed even by some of its signatories.
- How Donald Trump Helped the Paris Climate Deal Become Law Ahead of Schedule
The U.N. global climate deal known as the Paris Agreement came into legal force on Friday, nearly a year after dozens of countries agreed to it in marathon negotiations in the French capital. The goal of the accord is to limit global warming to below two degrees Celsius above pre-industrial levels. Many scientists believe that any increase above that mark will cause major disruption to the Earth’s climate. So far, 95 countries have signed the deal. That includes the United States. President Obama made climate change a key item of his agenda, pushing China to join the effort, and signing the Paris Agreement in August. Donald Trump, however, has vowed to withdraw the U.S. from the deal if he is elected President on Tuesday, and has slammed the Paris Agreement on the campaign trail. As far back as 2012—in one of his now-famous tweet-storms—Trump called climate change “bullshit” and a “hoax,” saying that China had fabricated the issue in order to boost their own industries and undermine American competitors.
- ‘The beginning of a new era': World reacts to Paris Agreement coming into force
Green businesses and industry groups have wholeheartedly welcomed the official enforcement of the Paris Agreement, but environmental groups and other experts are now urging governments to go beyond the ambition of the deal in order to avoid catastrophic climate change. The Agreement comes into force today (4 November), with governments agreeing to keep the global temperature rise to 2C above pre-industrial levels – and preferably 1.5 degrees. This is the culmination of the global climate deal agreed in the French capital less than a year ago, which effectively commits countries and businesses to move away from fossil fuels.
- Big Oil Promises $1 Billion In Climate Change Fight
A host of oil supermajors announced on Friday that they would allocate US$1 billion for fighting climate change over the next ten years. The effort, called the Oil and Gas Climate Initiative, involves BP, Shell, Aramco, Total, Eni, Statoil, Repsol, CNPC, Pemex, and Reliance Industries. Among the priorities of the initiative are cutting methane emissions from oil and gas pipeline leaks, and accelerating the development of carbon capture, use and storage technology. The money that the ten companies pledged will be collected in a fund, OGCI Climate Investments, which will partner with businesses from the transport and other energy-intensive industries in a bid to improve energy efficiency in these sectors.
- Paris Climate Change Deal Becomes International Law
The Paris Agreement to combat climate change became international law on Friday — a landmark deal about tackling global warming amid growing fears that the world is becoming hotter even faster than scientists expected. So far, 96 countries, accounting for just over two-thirds of the world's greenhouse gas emissions, have formally joined the accord, which seeks to limit global warming to 2 degrees Celsius (3.6 degrees Fahrenheit). More countries are expected to come aboard in the coming weeks and months. Secretary General Ban-Ki moon commemorated the event, talking with civil society groups at U.N. headquarters in New York to hear their concerns and visions for the future. “Today we make history in humankind's efforts to combat climate change,” Ban said before opening the meeting.
- The Paris climate agreement and why it matters
Almost 200 governments signed an unprecedented agreement last year to phase out fossil fuels in favour of renewable energy in the second half of the century. This agreement, signed in the French capital and seen as a turning point for global climate policy, comes into force on Friday. Al Jazeera explains why the deal matters and what it means for the future.
- The Paris climate change agreement: how will it affect you and your pay packet?
In early October 2016, 55 countries with 55 per cent of the world’s greenhouse gas emissions ratified the Paris climate change agreement. On November 4, it came into force. The main long-term goal is to keep the increase in global average temperature to well below 2°C above pre-industrial levels. But what does meeting the Paris aims look like in the short-term, within our lifetimes?
- The Paris Agreement: Now We Need to Move the Money
At the recent United Nations General Assembly in New York, Secretary General Ban Ki-moon predicted the Paris climate agreement would enter into force before 2017, announcing 60 countries had now ratified its terms. Last week, the International Monetary Fund and World Bank welcomed an influx of finance ministers and central bankers, to its annual meetings in Washington DC. At first glance, these two events might appear totally unrelated. The ratification of the Paris Agreement – a global deal to keep global temperature rise below 2°C – is a huge achievement and a real triumph for multilateralism. It also focuses the mind on the next step: how the Agreement will be implemented across the world?
- Giuliani Rages At FBI Decision “We Are Supposed To Be A Country Of Justice”
Former New York City Mayor Rudy Giuliani appeared on Fox News’ Sean Hannity Show Sunday, to talk about how out of place the Director of the FBI James Comey’s remarks were regarding the Clinton investigation. As Intellihub's Shepard Ambellas reports, Giuliani said that back in July there was already “overwhelming evidence” that Hillary Clinton “violated the law.” ‘Now in November we are hearing that she had her maid print out classified material routinely.’ “So if she was completely reckless back in July, the new revelation makes the situation much worse,’ Giuliani told Hannity.
- Election Prediction 2016: Current Trend Lines Show Trump Will Win in Landslide
So what is going to happen on November 8? On April 2nd of this year we predicted that Ted Cruz would be mathematically eliminated from the Republican race for President on April 27th because on that day he would need more delegates than would be available. We also predicted that on April 27th Donald Trump would accumulate 943 delegates which would put him well on track to win the Republican nomination. April 27th came and Ted Cruz was eliminated and Trump had amassed 944 delegates (which later was updated to 950 delegates). We were spot on!
- Newsweek Calls It: “Madam President Clinton” Hits The Shelves Due To A “Business Decision”
With still over a day to go until the earliest possible result from tomorrow's presidential election, a part of the blogosphere and conservative media was up in arms over a commemorative Newsweek cover depicting “Madam President” which appeared in print as early as Saturday. As Infowars reported, a Twitter user who works at a bookstore tweeted the images with the comment, “I work at a bookstore and we typically get magazines early and lookie what we got here.” and then adds that “her Twitter account was subsequently deleted after reporter Luke Costin chastised her for “fueling Trumpists’ hysteria about “rigged” #Election2016.”
- Can The Oligarchy Still Steal The Presidential Election? — Paul Craig Roberts
The election was set up to be stolen from Trump. That was the purpose of the polls rigged by overweighting Hillary supporters in the samples. After weeks of hearing poll results that Hillary was in the lead, the public would discount a theft claim. Electronic voting makes elections easy to steal, and I have posted explanations by election fraud experts of how it is done. Clearly the Oligarchy does not want Donald Trump in the White House as they are unsure that they could control him, and Hillary is their agent. With the reopening of the FBI investigation of Hillary and related scandals exploding all around her, election theft is not only more risky but also less likely to serve the Oligarchy’s own interests. Image as well as money is part of Oligarchic power. The image of America takes a big hit if the American people elect a president who is currently under felony investigation.
- Can U.S. Elections Really Be Stolen? Yes.
Is election theft possible in the United States? And might the suspects live closer to home than the Kremlin? Professor Mark Crispin Miller, author of numerous books and articles on computerized election fraud, explores the very real possibilities.
- Benghazi guards turned on US diplomats in 2012 attack, sources say
An obscure private firm hired by the State Department over internal objections to protect U.S. diplomats in Benghazi just months before the American ambassador and three others were killed was staffed with hastily recruited locals with terror ties who helped carry out the attack, multiple sources told Fox News. The explosive charge against Wales-based Blue Mountain Group comes from several sources, including an independent security specialist who has implemented training programs at U.S. Consulates around the world, including in Benghazi, where he trained a local militia that preceded Blue Mountain. The source, who spoke on condition of anonymity, said Blue Mountain used local newspaper ads to assemble a team of 20 guards, many of whom had terror ties, after securing a $9.2 million annual contract.
- State Dept. Has up to 31,000 Pages of New Clinton Records from the FBI’s Investigation; Wants Five Years to Process Them
Judicial Watch President Tom Fitton made the following statement regarding developments during today’s court hearing concerning Judicial Watch’s Freedom of Information Act (FOIA) lawsuit seeking emails sent or received by former Secretary of State Hillary Clinton in her official capacity during her tenure as secretary of state: ‘The Obama State Department is doing a political favor for Hillary Clinton for suggesting to a federal court today that Judicial Watch wait as long as five years to see up to 31,000 new Clinton documents found by the FBI. We learned in this lawsuit that the State Department is slow-walking the release of Hillary Clinton’s deleted and hidden emails. Ironically, this Clinton/Obama State Department stonewalling has guaranteed that the Clinton email scandal won’t be resolved for years.' The court has set the next hearing in this case for November 29 to discuss the status of 650,000 emails reportedly found on the computing devices of Huma Abedin and Anthony Weiner.
- Fed Up Friday: FOMC Revisions Likely, Regardless of Election Result
With the election looming, the Fed met all expectations of delaying a rate hike in November. Whether or not a hike happens in December, the benefit to owning gold is that “real” interest rates could stay low or negative regardless of the outcome. Learn about all that and more in this week’s Fed Up Friday.
- I Just Lost All Faith In Our Deeply Corrupt Legal System And In The Rule Of Law In The United States
The FBI just gave Hillary Clinton the biggest gift in the history of presidential politics. Two days before the election the FBI has announced that they are ending their investigation into Hillary Clinton’s mishandling of classified information. After reviewing the emails that were found on electronic devices owned by Huma Abedin and Anthony Weiner, FBI Director James Comey sent a letter to Congress telling them that “we have not changed our conclusions that we expressed in July with respect to Secretary Clinton.” That means that there will be no indictment, and the path is now clear for Hillary Clinton to become the next president of the United States on Tuesday unless an election miracle happens.
- A Digital 9/11 If Trump Wins
There are disturbing signs that a digital 9/11 terror attack is being readied for election day in the US to ensure that Donald Trump does not win. Such an attack – involving widespread internet and power outage – would have nothing to do with Russia or any other foreign state. It would be furnished by agencies of the US Deep State in a classic “false flag” covert manner. But the resulting chaos and “assault on American democracy” will be conveniently blamed on Russia. That presents a double benefit. Russia would be further demonized as a foreign aggressor “justifying” even harsher countermeasures by America and its European allies against Moscow.
- Fact file: BRICS drive the global economy
BRICS nations – Brazil, Russia, India, China and South Africa – account for 43 per cent of the world’s population and 25 per cent of the global economy. Despite a global economic slowdown, BRICS has been a main economic engine for the world economy. Countries such as Brazil and Russia, which struggled with recession in the past two years, are expected to turn the corner and post GDP growth in 2017. Russia’s GDP contracted 1.2 per cent in Q1 2016 but that slowed to 0.6 per cent in Q2, according to data from the Rosstat federal statistics service. This is a marked improvement to its 3.7 per cent contraction in 2015; it contracted 3.8 per cent in Q4 in 2015.
- She’s guilty and she knows it, Trump rages as FBI clears Clinton over emails
Furious Donald Trump has accused the FBI of impropriety after the bureau cleared US presidential rival Hillary Clinton of criminal wrongdoing in a new email probe, lifting a cloud hanging over the Democrat as America goes to the polls on Tuesday. FBI director James Comey told the US Congress on Sunday that the bureau found no evidence to warrant criminal charges against Mrs Clinton in a trove of newly-discovered emails. But Republican Mr Trump told supporters it would have been impossible for the FBI to review what has been reported to be as many as 650,000 emails in so short a time and said Mrs Clinton was being protected by “a rigged system”.
- “More than a Dozen” Drugmakers under Criminal Investigation for Price-Fixing, Shares Plunge, after Getting Crushed All Year
The digital ink wasn’t dry yesterday on my article on How PE Firms Are Flipping Drugs in Price-Gouging Scheme that Cannibalizes the Entire US Economy, when Bloomberg reported that US prosecutors “are bearing down” on “more than a dozen” drugmakers “in a sweeping criminal investigation into suspected price collusion.”
- Donald Trump's Argument For America
- How PE Firms Are Flipping Drugs in Price-Gouging Scheme that Cannibalizes the Entire US Economy
The ravenous price increases that pharmaceutical companies slap on their medicines are part of the reason the US health care system is eating an ever larger slice of consumer, corporate, and government spending, and why the rest of the economy has trouble moving forward. Some of the price increases have turned into scandals with plenty of mouth-wagging by politicians. Mylan got raked over the coals in Congress for raising the price of its autoinjector EpiPen seven-fold since buying it in 2007. Last year, Turing Pharmaceuticals, under Martin Shkreli, got into hot water over raising the price of just-acquired Daraprim 50-fold.
- Another European Bank Becomes a Penny Stock
Despite receiving some of the most generous public subsidies in recorded history, Europe’s financial sector continues to hemorrhage. In Italy, the total market value of Monte dei Paschi di Siena, the world’s oldest bank and Italy’s third largest, is a fraction over €500 million, as its shares hover just 23 European cents above zero. In the EU’s largest economy, Germany, the country’s only G-SIB (Global Systemically Important Bank), Deutsche Bank, has seen its stock plummet close to 90% in the last 10 years,from €117 to €12.30. This year alone it’s down well over 40%.
- The Dollar Collapse Has Begun; U.S. Bank Failures Soon to Follow
In Part I of this three part interview between Elijah Johnson and Dr. Jim Willie, the interview starts off by with Elijah asking Dr. Willie about the unprecedented dumping of U.S. Bonds by China and Saudi Arabia in recent weeks. By “unprecedented” dumping, Elijah is referring to several weeks ago when the markets witnessed never before seen numbers as $28 billion in U.S. Treasuries were dumped in a single week, followed by another $23 billion a week or so later.
- Emails Warrant No New Action Against Hillary Clinton, F.B.I. Director Says
The F.B.I. director, James B. Comey, told Congress on Sunday that he had seen no evidence in a recently discovered trove of emails to change his conclusion that Hillary Clinton should face no charges over her handling of classified information. Mr. Comey’s announcement, just two days before the election, was an effort to clear the cloud of suspicion he had publicly placed over her presidential campaign late last month when he alerted Congress that the F.B.I. would examine the emails. “Based on our review, we have not changed our conclusions that we expressed in July with respect to Secretary Clinton,” Mr. Comey wrote in a letter to the leaders of several congressional committees. He said agents had reviewed all communications to and from Mrs. Clinton in the new trove from when she was secretary of state.
- “Sell Everything Now” David Stockman Warns, America Faces “Total Disaster…Partisan Warfare”
“Under a Trump victory, all bets are off,” warns former Director of the Office of Management and Budget under President Ronald Reagan, David Stockman. “I like [Trump] because he's against the establishment, but he has no economic program. Yes, he's a disruptor, but has nothing to disrupt with,” Stockman told CNBC, “if elected, it will be partisan warfare and a total disaster.” Stockman's message is clear, as CNBC notes, sell everything…
- WikiLeaks Documents Coming From US Intelligence Not Russia, MSM & Democrat Party Dying
There are numerous reports on the alternative media of documents being given to WikiLeaks to counter the corruption and lawlessness of the Obamas and Clintons. AG Loretta Lynch has been reportedly blocking an FBI investigation into the Clinton Foundation that many say is a “global charity fraud” and a “huge criminal conspiracy.” The leaked emails and documents show corruption between the Justice Department and Hillary Clinton. These documents and emails also show a grand cover-up of the true treason that has taken place in the highest offices of the U.S. government.
- Value of Gold – Unlike Paper Currency Gold Has Maintained Its Value Throughout Ages
The Value of Gold. “Unlike paper currency, coins or other assets, gold has maintained its value throughout the ages.” Jill Kerby, personal finance expert and Mark O’Byrne, Research Director of GoldCore were interviewed by Sinead Desmond of ‘Ireland AM’ on TV3 this morning about the “value of gold” as a store of wealth and financial insurance in our “electronic age”.
- Chinese firms to begin ‘new Egypt capital’ in 2017
Following months of speculation that the whole project had been scrapped, construction on Egypt’s New capital city by two of China’s biggest developers could begin as early as next year. The Egyptian government is targeting up to $45 billion in investments, and the agreements set to be finalized before the year’s end will bring the country closer to that target. Earlier this month, heads from China Fortune Land Development Company (CFLD) met with Egyptian President Abdelfattah Al-Sisi and agreed to provide $20 billion over the coming 10 years for the currently unnamed city mega project which is expected to break ground some 47 kilometers east of the current capital Cairo.
- Egypt awaits IMF help amid FX shortage
Egypt is reportedly weeks away from securing the first installment of its much-anticipated $12 billion loan from the International Monetary Fund as its currency continues to fall in the parallel market. Managing Director Christine Lagarde told reporters last week that “[Egypt has] almost completed” the actions required for the IMF board to review the loan accord. The board is expected to arrive in Cairo some time in early November to finalize a set of conditions that require Egypt’s compliance. The conditions include a host of economic reforms as well as confidence-building measures to help mitigate the debilitating impact of a foreign-currency shortage. One such stipulation is acquiring up to $6 billion from bilateral creditors.
- Something Big Is Underway On All Fronts: “Within The Next Few Weeks The Future Of The United States Will Be Decided”
As of this writing, the increased U.S. troop presence in Eastern Europe includes a battalion-sized element of American troops being emplaced in the Suwalki Gap, Polish territory that borders Lithuania in a 60-mile stretch of corridor. The Russian Defense Ministry announced that 600 Russian and Belarussian airborne troops conducted training exercises in Brest, on the Belorussian-Polish border only a few miles from where the U.S. forces are deploying in Poland. This on the heels of Britain deploying 800 men, tanks, and jets to Estonia, along with pledges of Challenger 2 tanks, APC’s (Armored Personnel Carriers), and drones. Two companies of French and Danish Soldiers will join the British in the deployment to Estonia.
- OPEC Chaos Sees Oil Prices Fall
Oil prices settled at a six-week low on Thursday following several consecutive days of large price declines. The major catalysts this week were doubts over an OPEC deal and EIA data showing a record build up in crude oil stocks. The EIA said Wednesday that U.S. oil inventories rose by 14.4 million barrels last week, the largest gain in a single week since data collection began in the early 1980s. WTI plunged below $45 per barrel on the news and the five consecutive days of losses was the longest streak since June. The data could be misleading, however. The huge buildup in inventories came largely because weekly imports spiked. Imports rose by about 2 million barrels per day last week after several weeks of hovering at below-average levels. The import spike was partially affected by bad weather, including a hurricane, and could be an anomaly. If that is the case, crude stocks probably won’t gain at similar rates in the weeks ahead.
- Every Asset Class Will Collapse: ‘You Need To Be Looking At Your Wealth In Terms Of How Many Chickens And How Much Gas You Can Buy’
There’s no other way to put it. The system as we know it will collapse. This, argues Karl Denninger of the Market Ticker, is a mathematical certainty. In a recent interview with Future Money Trends Denninger touches on the various dire challenges facing America. From the Presidential election to the rampant corruption in our financial, political and healthcare systems, he pulls no punches and warns that the worst is yet to come unless real action is taken immediately. Failure to do so, says Denninger, will lead to a collapse of everything we consider to be a part of our current way of life.
- OPEC Is Now Irrelevant – This Oil Price Plunge Is Different
Not very long ago, oil prices traded at well below $20/b and OPEC anxiously came up with a mechanism which it termed as “OPEC Price Band' $22-$28/b”. The rationale for this price band, was that OPEC members would find it sufficient for the growth of their oil and gas industry while the price was high enough to meet their government budgetary requirements. However, only a few years after this mechanism was introduced, oil prices exploded upwards and OPEC was forced to abolish its own price band in favour of higher oil prices.
- Gold may be real winner in US elections
To the relief of some but the worry of many others the US election is now just days away. Unlike past elections this one appears to grown more uncertain and fraught the closer it gets. Since the FBI announced further investigations into emails associated with Hillary Clinton, her lead has narrowed and voters appear to be even more undecided. For some the decision is a fate worse than death, as Reuters reported, ‘Young Americans are so dissatisfied with their choices in this presidential election that nearly one in four told an opinion poll they would rather have a giant meteor destroy the Earth than see Donald Trump or Hillary Clinton in the White House.’
- Oil Prices Set For Biggest Weekly Decline Since January
Having scored the largest weekly drop in six weeks last week, oil prices have continued to crash this week too, and are heading to their largest weekly loss since mid-January 2016, amid growing U.S. inventory builds and lingering skepticism that OPEC can pull off a production cut deal. At the time of writing, the WTI Crude futures for December delivery traded down 0.02 percent at US$44.65, while Brent Crude prices were down 0.32 percent at US$46.20. In the previous five days, WTI Crude touched a high of US$48.74 on October 31 and a low of US$44.29, today—for a five-day loss of $4.45 per barrel. WTI Crude prices have dropped by 8.2 percent this week so far.
- M&S to axe dozens of high street stores
The new boss of Marks & Spencer (M&S) is to axe dozens of UK stores and stop selling clothing in others in a radical shake-up of its high street presence aimed at persuading the City that he can revive the fortunes of Britain’s best-known retailer. Sky News has learnt that Steve Rowe, who took the helm at M&S earlier this year, will announce next week that a substantial chunk of its UK store portfolio is to be reorganised, a move that will include the outright closure of a significant number of shops.
- EXCLUSIVE: Trump's 13-year-old ‘rape victim' dramatically DROPS her case. Woman withdraws legal claim she was assaulted at Jeffrey Epstein sex party
The woman who alleged that Donald Trump sexually assaulted her at billionaire pedophile Jeffrey Epstein's notorious ‘sex parties' in 1994 when she was a 13-year-old has dropped the civil lawsuit that was filed against him. Trump's legal team branded the allegations ‘disgusting at the highest level' and a ‘hoax' clearly framed to ‘solicit media attention or, perhaps… simply politically motivated'. She first sued Trump and Jeffrey Epstein under the name Katie Johnson on April 26 in California federal court and filed an amended complaint in New York federal court in October, claiming she was subject to rape, criminal sexual acts, assault, battery and false imprisonment. The court papers offer no corroborative evidence that her claims are true.
- Baker Hughes and General Electric Unite In Merger
On Monday, two major industry companies made an official announcement: General Electric’s oil and gas sector will be merging with Houston’s own Baker Hughes in an effort to create a brand new “digital industrial services giant.” The deal, valued at roughly $32 billion, will unite the country’s biggest industrial company with the third-largest energy services giant in the world. The merger arrives just six months after Baker Hughes’ $35 billion acquisition by Halliburton was axed by the Justice Department due to anti-competition fears.
- WikiLeaks Podesta emails: Rahm Emanuel used private email server to conduct government business
Chicago Mayor Rahm Emanuel used a private email server to communicate with Democratic nominee Hillary Clinton’s campaign chair John Podesta, leaked emails reveal. Emanuel, a former House lawmaker who served early on in the Obama administration, sent an email to Podesta asking him to consider Brian DeSplinter for a position with Clinton’s campaign. Emnauel sent the email from the address “firstname.lastname@example.org.” The email address is still active, according to Mailtester.com, and is run through Google’s Gmail service. This is unlike Clinton who used a private email server based out of her Chappaqua, New York home.
- Trump Wants Former Goldman Partner And Soros Employee To Serve As Treasury Secretary
Six months ago, Steven Mnuchin became finance chair for the Trump campaign. Having succesfully helped to raise 10s of millions of dollars for the campaign, the former Goldman Sachs partner and Soros Fund management employee is now positioned for something much larger as Donald Trump reportedly told his aides today that he wants Mnuchin to serve as his Treasury Secretary.
- Stock Market Reaches Deadly 7 Straight Days of Losses As Catholic Jubilee Year End Day Approaches
The S&P 500 has only fallen for 7 straight days three times in the last 20 years. And, each time it was during a financial crisis. And, it just happened again today. The S&P 500 fell 0.65% on Wednesday, marking seven days in a row of losses. Further, the CBOE Volatility Index (VIX) spiked more than 40 percent over the last six days. It was the first time the VIX rose for six straight days since the lead-up to the UK’s Brexit vote. And, interestingly, the Federal Reserve met again today and surprise, surprise… they didn’t raise rates again – though as usual they keep threatening…
- KONGSBERG, Automated Ships to Build Unmanned, Fully-automated Vessel for Offshore Ops
The UK’s Automated Ships Ltd. and Norway’s Kongsberg Maritime have signed a memorandum of understanding to build the world’s first unmanned and fully-automated vessel for offshore operations. In January 2017, Automated Ships will contract the Hrönn, which will be designed and built in Norway in cooperation with KONGSBERG. Sea trials will take place in Norway’s newly designated automated vessel test bed in the Trondheim fjord and will be conducted under the auspices of DNV GL and the Norwegian Maritime Authority (NMA). The Hrönn will ultimately be classed and flagged, respectively.
- How Much Time do we have Before the Next Economic Crisis?
Since early July, the 30-year US Treasury Bond Price Index has plunged 8.3%. It’s now called “the rout” in longer-dated government bonds. One of the specters is rising inflation at a time of ultra-low yields. What has become the number one predictor of a bear market in stocks over the past many decades? The US Treasury yield curve. It drives bank lending – which can strangle the economy. But this time, the risks are much higher, and the potential economic consequences steeper. The yield curve depicts the yields of different maturities of Treasury securities. Normally, those with short maturities have very low yields, and those with longer maturities have higher yields.
- OBAMACARE: Your Dog Might Have Better Healthcare Than You Do
It’s not exactly controversial these days to suggest that the US healthcare system is in bad shape. According to data collected by numerous independent agencies like the Institute of Medicine, Commonwealth Fund, and Kaiser Family Foundation, the US still ranks dead last among advanced economies in overall quality of its healthcare system. In fact, the US healthcare system has the worst record in the number of deaths caused by mistakes or inefficient care. And wait times in the US for urgent care and primary care visits rank lower than every other developed nation.
- Julian Assange: Isis and Clinton Foundation are both funded by Saudi Arabia and Qatar
Wealthy officials from Qatar and Saudi Arabia who donated money to Hillary Clinton’s charitable foundation also provided financial support to Isis, WikiLeaks founder Julian Assange has claimed. In an extended interview at the Ecuadorian embassy in London with documentary maker John Pilger for RT, Mr Assange said the same Saudi and Qatari officials could be seen to be supporting both the Clinton Foundation – founded by Mrs Clinton’s husband Bill – and funding the activities of Isis.
- “I Feel Like Pablo Escobar” – Venezuelans Resort To Weighing Cash As Hyperinflation Builds
Having thrown in the towel on hyperinflation by printing banknotes with 200-times-higher denominations, Bloomberg reports that things in Venezuela have continued to get worse with the currency now so devalued (with even simple purchases requiring so many bills) that instead of counting bills, they are weighing them. Once one of the world’s strongest currencies, the bolivar has been reduced to a nuisance. Basic purchases require hundreds of bills. Shoppers shove piles of them into gym bags before venturing into crime-plagued streets and shopkeepers stash thousands in boxes and overflowing drawers. In the absence of official data, economists are left to guess what the inflation rate is. Estimates for this year range from 200 percent to 1,500 percent. At a delicatessen counter in eastern Caracas, Humberto Gonzalez removes slices of salty white cheese from his scale and replaces them with a stack of bolivar notes handed over by his customer. “It’s sad,” Gonzalez says. “At this point, I think the cheese is worth more.”
- Fed Sends New Signals About a Possible December Rate Increase
Inflation is finally showing signs of behaving the way Federal Reserve officials want it to, bolstering the case for them to raise short-term interest rates next month. They decided Wednesday to leave rates unchanged while sending new signals that they could move at their next meeting, Dec. 13-14. Inflation has “increased somewhat since earlier this year,” Fed officials said in a statement released after a two-day policy meeting, noting also that some investors’ expectations of future inflation “have moved up but remain low.”
- Don’t Sweat The Election. The Next Crisis Is Already Baked Into The Cake
Friday was one of those days where you walk away from the screen for a minute and come back to find a completely different market. All it took was the FBI finding a trove of new Clinton emails, thus breathing new life into the Trump campaign and throwing what was a foregone conclusion back into doubt. Stocks tanked and gold popped, illustrating Wall Street’s preference in the upcoming election. It will be this way until the vote, especially if polls continue to tighten and the outcome remains uncertain. So there’s no point in obsessing over fundamentals for now. Nothing real will matter until we find out who gets to mess things up going forward. Sort of like the original Ghost Busters where the demon/god says “Choose the form of the destructor.”
- Three Out Of Four Americans Believe The Media Wants Hillary To Win
In light of the Podesta email revelations, as well as the daily farce that is CNN “objective reporting”, it will hardly surprise anyone, that the American public thinks the media wants Democratic presidential nominee Hillary Clinton to win by an almost 10-to-1 margin, according to a new poll. According to a Suffolk University/USA Today poll, which asked “who do you think the media, including major newspapers and TV stations, would like to see elected president: Hillary Clinton or Donald Trump?” the answer was clear: of the 1,000 adults surveyed, 75.9 percent answered Clinton, while just 7.9 percent picked Trump. Just more than 16 percent of respondents chose either “neither” or “undecided.”
- Billionaire: “Single Digit Millionaires” Are Too Poor to Get Justice In America
Billionaire Peter Thiel said yesterday: “If you’re a single-digit millionaire … you have no effective access to our legal system.” Thiel is saying even plain vanilla millionaires can’t afford justice in America. Fordham Law School professor and criminal justice expert John Pfaff notes that – using 2007 numbers – many states’ entire budgets for legal defense for people who can’t afford a lawyer is in the single-digit millions. (Given that the Great Recession happened shortly afterward, those numbers have undoubtedly declined since 2007.) In other words, under Thiel’s logic, even if an entire states’ annual budget for legal defense were spent on a single person, it wouldn’t be enough to deliver justice.
- With insurers pulling out of markets, some Obamacare users “really nervous”
Open enrollment for Obamacare, or the Affordable Care Act, begins today. Problems with the law mean consumers could face significant rate hikes in some parts of the country. There will also be fewer health plans to choose from. Starting today, the administration will make a major enrollment push — but that may be a tough sell in states like Tennessee, which has seen premiums spike more than 50 percent, reports CBS News correspondent Margaret Brennan.
- Not all the Standing Rock Sioux are protesting the pipeline
Ask around and you’ll hear stories of pipeline protesters who’ve traveled great distances. They’ve come from Japan, Russia and Germany. Australia, Israel and Serbia. And, of course, there are the allies, not exclusively Native American or indigenous, who’ve flocked here from all corners of the US. Together they stand in opposition to the Dakota Access Pipeline, a $3.7 billion investment to move 470,000 barrels of domestic crude oil a day through four states. They’re fighting against what they see as corporate greed, an environmental threat and an assault on sacred land. Demonstrating is their proud daily work.
- Recessions, Predictions and the Stock Market
We were recently made aware of an interview at Bloomberg, in which Tony Dwyer of Cannacord and Brian Wieser of Pivotal Research were quizzed on the recently announced utterly bizarre AT&T – Time Warner merger. We were actually quite surprised that AT&T wanted to buy the giant media turkey. Prior to the offer, TWX still traded 50% below the high it had reached 17 years ago. The merger as such is actually not what we want to discuss though. Rather, it is a remark of Mr. Dwyer’s regarding the stock market in general and what the recent merger mania is signaling. He makes two major points in the course of the conversation. For one thing, he notes that the merger (along with many other mergers that have recently been announced) is the result of the extremely easy availability of credit.
- Italy’s Banking System on Verge of Nervous Breakdown
One of the best indicators of whether a financial crisis is in full swing is when senior insiders begin to lose it in public. That’s precisely what happened in Italy on Thursday when Italian senior banker Giuseppe Guzzetti gave a speech at a conference in honor of World Savings Day, an international event that, unbeknownst to 99.9% of mankind, takes place every year on Halloween (Oct. 31). During his address, Guzzetti admitted that Atlante II — one of two bad bank funds created to provide much-needed support to Italy’s crumbling banking sector (the other being its predecessor, Atlante I) — is chronically underfunded. The fund, set up in the spring to help Italy’s most fragile banks, in particular Monte dei Paschi, remove some of the most toxic debt off their balance sheets, has experienced six intense months of activity, “but is now out of breath,” Guzzetti lamented.
- Done in by Overcapacity, Stagnant World Trade, and China, Korean Shipbuilders Collapse on Top of Taxpayers
The ravaged shipbuilding industry in South Korea, deemed too big to fail, is getting its largest taxpayer bailout yet, totaling $9.6 billion, on top of the bailout funds already handed out last year, and on top of another $9.6 billion this year to bail out state-owned banks that were getting slammed by defaulting loans extended to the shipping industry. Their problem: according to trade ministry, cited by the Wall Street Journal, orders for new ships to be built in South Korea have collapsed by 87% over the past nine months from the already terrible 9-month period last year, to almost nothing.
- Can The American People Defeat The Oligarchy That Rules Them? — Paul Craig Roberts
Aren’t you surprised that Hillary and the presstitutes haven’t blamed Putin for FBI director Comey’s reopening of the Hillary email case? But the presstitutes have done the next best thing for Hillary. They have made Comey the issue, not Hillary. According to US Senator Harry Reid and the presstitutes, we don’t need to worry about Hillary’s crimes. After all, she is only a political woman feathering her nest, just as political men have done for ages. Why all this misogynist talk about Hillary? The presstitutes’ cry is that Comey’s alleged crime is far more important. This woman-hating Republican violated the Hatch Act by telling Congress that the investigation he said was closed is now reopened. A very strange interpretation of the Hatch Act. During an election it is OK to announce that a candidate for president is cleared but it is not OK to say that a candidate is under investigation.
- Gerald Celente: Fear Index Spiking After A Fed President Just Confessed ‘Radical Monetary’ Policies Have Failed
With the U.S. dollar, stocks and crude oil trading lower and the price of gold and silver surging, the Fear Index is spiking after a Fed President just confessed that the central banks’ radical accommodative monetary policies have failed. Gerald Celente — Between the stream of WikiLeaks’ email dumps challenging the practices of Hillary Clinton’s campaign and the ethics of the Clinton Foundation, plus the FBI’s announcement to further investigate Clinton’s emails from her private server when she was secretary of state, Wall Street’s odds she would beat Donald Trump next Tuesday are no longer a sure bet.
- The Coming Super Depression, Social Unrest, Wars, Cyberwars, $10,000 Gold & $1,000 Silver
With continued uncertainty in global markets, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, spoke with King World News about the the coming ‘Super Depression,’ social unrest, wars, cyberwar, $10,000 gold, and $1,000 silver. The Beginning Of The End. Egon von Greyerz: “Money printing and debt is just the most beautiful scheme invented by governments to make ends meet and give the people whatever they want. In this perfect system, it makes not the slightest difference if the budget doesn’t balance. Conventional methods of increasing taxes or reducing government expenses is old hat and totally unnecessary. With modern methods, such trivial problems are solved by the printing press…
- 10 Urgent preparedness items you’ll need when Trump wins the election next Tuesday
This is a message from ‘The Health Ranger’ Mike Adams from NaturalNews.com. For almost a year, he has been publicly predicting that Donald Trump will win the election. Now, with the deep state turning against Hillary — and with damning evidence about to be leaked that will take her down forever — a Trump victory is more certain than ever… While a Trump win is a true victory for America, it’s just the beginning of the establishment’s war on Donald Trump and the revolution he’s supporting. The Washington political establishment, remember, absolutely despises democracy… and they are determined to do anything necessary to destroy Trump, remove him from power and install their own obedient political puppets who will do their bidding.
- Pastor Lindsey Williams introduces Pastor David Bowen – November 3, 2016
Pastor Lindsey Williams introduces Pastor David Bowen with his sixth short weekly video for readers of Pastor Williams’ weekly newsletter.
THE FINAL BUBBLE! Pastor Williams says the information shared by this economist is outstanding and correct. What he says will happen. >>> CLICK HERE TO WATCH THE VIDEO (This video is being shared because the information within it is truly good and correct. Half way through the video it turns into a sales pitch to sell a book and related products. Pastor Williams has asked me to state that Pastor Williams and LindseyWilliams.net do not endorse this book).
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 October 28, 2016 to November 3, 2016:
- 10 Urgent preparedness items you'll need when Trump wins the election next Tuesday
For almost a year, I've been publicly predicting Donald Trump will win the election. Now, with the deep state turning against Hillary — and with damning evidence about to be leaked that will take her down forever — a Trump victory is more certain than ever. While a Trump win is a true victory for America, it's just the beginning of the establishment's war on Donald Trump and the revolution he's supporting. The Washington political establishment, remember, absolutely despises democracy… and they are determined to do anything necessary to destroy Trump, remove him from power and install their own obedient political puppets who will do their bidding.
- A Vote of Treason
It has taken several months and a number of email dumps from Wikileaks to finally figure out what this presidential election is all about. There are only two ways to vote, for Donald Trump or for Hillary Clinton. But neither of those are what one would be voting for.
- If Donald Trump Wins, He Will Be 70 Years, 7 Months And 7 Days Old On His First Full Day In Office
A couple of weeks ago, it looked like Hillary Clinton was all set to cruise to victory, but now the FBI has delivered an election miracle in the nick of time. A few of my readers had criticized me for suggesting that Trump might lose, but I don’t know who is going to win the election, and so all I had to go on was the cold, hard numbers. And a couple of weeks ago the cold, hard numbers were telling me that Hillary Clinton was going to win. Of course it is entirely possible that the national polls might have been seriously wrong, but even the state polls in the most important battleground states consistently had bad news for Trump. So things didn’t look good for Trump at the time, but now that the FBI has renewed their investigation into Hillary Clinton’s emails the poll numbers have shifted dramatically in Trump’s favor.
- How Voting Machines Are Programmed In Order To Steal Elections
Americans are being told by “experts” (read “Hillary supporters”) that election fraud in the US is rare. They are also being misinformed that voting fraud would be detected. The fact of the matter is, as has now been proven, that no vast conspiracy is required. One person suffices to have the machine count the votes as desired. Once the vote is recorded the code erases the elements that would reveal the fraud. The entire purpose of the presstitutes reporting a non-existent Hillary lead is to create in advance acceptance that she won, thereby discrediting in advance any challenge to the rigged outcome.
- Trump And Clinton Have Both Assembled An Army Of Lawyers To File Lawsuits And Contest The Election Results
What happens when you get thousands of lawyers involved in the craziest election in modern American history? Unfortunately, we may be about to find out. We all remember the legal tug of war between Al Gore and George W. Bush in 2000, and with each passing day it is becoming more likely that we could see something similar (or even worse) in 2016. In a brand new article entitled “Clinton, Trump Prepare for Possibility of Election Overtime“, Bloomberg discusses the armies of lawyers that Clinton and Trump are both assembling for this election. It would be nice if it was the American people that actually decided the outcome of this election, but if things are very close on November 8th it may come down to what the courts decide.
- Will Barack Obama Delay Or Suspend The Election If Hillary Is Forced Out By The New FBI Email Investigation?
Just when it looked like Hillary Clinton was poised to win the 2016 election, the FBI has thrown a gamechanger into the mix. On Friday, FBI Director James Comey announced that his agency has discovered new emails related to Hillary Clinton’s mishandling of classified information that they had not previously seen. According to the Associated Press, the newly discovered emails “did not come from her private server”, but instead were found when the FBI started going through electronic devices that belonged to top Clinton aide Huma Abedin and her husband Anthony Weiner. The FBI has been looking into messages of a sexual nature that Weiner had exchanged with a 15-year-old girl in North Carolina, and that is why they originally seized those electronic devices. According to the Washington Post, the “emails were found on a computer used jointly by both Weiner and his wife, top Clinton aide Huma Abedin, according to a person with knowledge of the inquiry”, and according to some reports there may be “potentially thousands” of emails on the computer that the FBI did not have access to previously. Even though there are less than two weeks to go until election day, this scandal has the potential to possibly force Clinton out of the race, and if that happens could Barack Obama delay or suspend the election until a replacement candidate can be found?
- Syrian Refugees Admitted Into The U.S. Surge 675% So Far In 2016
Through October, the Obama administration has officially resettled 13,210 Syrian refugees into the United States since the beginning of 2016, an increase of 675% compared to the same 10-month period in 2015. Of course, just last month Secretary of State Kerry revealed plans by the Obama administration to increase the number of refugees admitted into the U.S. even further to 110,000 in 2017, representing a 30% increase over the 2016 target and a 57% increase from 2015. According to CNS News, 99.1% of incoming Syrian refugees so far in 2016 are Muslim while only 0.5% are Christian despite John Kerry declaring back in March that ISIS was actively committing genocide against Christians in the war-torn country.
- Unprecedented Bond Dumping Means U.S. Dollar Collapse Ahead
In the following interview, Elijah Johnson and Silver Doctors bring you the latest interview with someone we haven’t heard from in a while, Dr. Jim Willie. To begin the financial portion of the interview, Elijah begins by asking Dr. Willie about the unprecedented dumping of U.S. Bonds by China and Saudi Arabia, and of course what Elijah is referring to is how several weeks ago the markets witnessed never before seen numbers when $28 billion in U.S. Treasuries were dumped one week, followed by another $23 billion a week or so later.
- The Fight Against The North American Union And Globalism Is In Standing Rock
If you are one of the few people left watching the mainstream media, you’d think that the only thing currently going on has to do with Donald Trump or Hillary Clinton. There is much more going on than that, however. Aside from the ongoing military tensions with Russia and the faltering economy, there is a stand-off currently happening that is barely being reported on in the mainstream. Just a few days ago, tensions really began to escalate on the Sioux reservation land in Standing Rock, North Dakota. There, highly militarized riot police used sound cannons, pepper spray, and tasers to try to both arrest and subdue Native American “Indian” tribes and environmental activists alike who are struggling to protect land from developers of the Dakota Access Pipeline.
- The U.S. Will Lose Global Reserve Status, Expect 80-90% Devaluation Of the U.S. Dollar
In the following interview with the X22Report Spotlight report, Dr. Jim Willie unleashes with both guns blazing on a subject I’ve been warning about for about for over two years now, which is the loss the U.S. Dollar’s status as the World’s Global Reserve Currency. For the simple fact that no one under the age of 70 has never known a planet earth where the U.S. Dollar has not been the World’s Reserve Currency, most Americans in particular have no idea what it will mean when we lose that status.
- Money Riots Possible in Next Economic Crash-James Rickards
Three time best-selling author James Rickards says the next economic crash will lock you out of your money. Rickards has a new book titled “The Road To Ruin.” Rickards paints a scary possible scenario for what is coming and contends, “The global elites have a secret plan for the next financial crisis.” Rickards goes on to explain, “They are going to lock down the system when the crisis hits. In 1998, everybody wanted their money back, and they printed the money. In 2008, everybody wanted their money back, and they printed the money. In 2018 or sooner, everyone is going to want their money back, but they are not going to print the money. They are going to tell you that can’t have it. They are going to lock down the system and close the banks. Money market funds are going to suspend redemptions. Stock exchanges are going to be closed, and they’ll say it’s ‘temporary.’ That’s what Nixon said when he closed the gold window in 1971. . . . They will do it to buy time until they can flood the market with SDR’s (Special Drawing Rights IMF currency).”
- Moody’s: Deutsche Bank Nearing “Default Point”
In a research report put together by the credit agency’s ‘Analytics’ research division, Moody’s analysts write that Deutsche Bank expected default frequency remains at one of the highest levels in the banking industry, despite the bank’s efforts to shore up its capital position. In the report, Moody’s cites its Expected Default Frequency measure, which is a continuous measure of a firm’s default risk. The firm’s one-year EDF measure increased from 1.05% in January to its all-time high of 2.85% on February 9. Since then, the EDF measure has declined somewhat, but remains volatile, reflecting Deutsche Bank’s lingering financial problems. At present, the company’s current EDF measure is a 1.39%, which is still significantly above the Global Banks and S&Ls group’s optimal threshold level as calculated by Moody’s. The optimal threshold or value at which firms in the Global Banks and S&Ls Group should be flagged for additional review is 1.22%.
- DOJ's Peter Kadzik Exposed Colluding With Clinton Campaign
On Monday we were the first to note that Podesta's friend Peter Kadzik was the DOJ representative chosen to head up a “thorough” review of the new Huma Abedin emails as revealed by a letter he wrote to Congress. Given Kadzik's personal relationship with Podesta, it seemed like a “convenient” choice for the Clinton campaign. ‘In the letter to Congress, the DOJ writes that it “will continue to work closely with the FBI and together, dedicate all necessary resources and take appropriate steps as expeditiously as possible,” assistant attorney General Peter J. Kadzik writes in letters to House and Senate lawmakers.' “Ironically”, that is the same Peter Kadzik who has proven his “impartiality” in multiple WikiLeaks emails including this newly released bombshell in which Kadzik provides a very helpful “heads up” about Hillary's email server investigation.
- HSBC: Buy Gold, Regardless Of Who Wins The Election
Analysts at HSBC are out today with a big bullish call on gold, which they say will rise precipitously to multi year highs, no matter who wins next week’s hotly-contested election. The firm sees Trump as slightly more bullish for the yellow metal, but expects big upside regardless. From Bloomberg: ‘Although they deem a Donald Trump victory more supportive for the price of the metal than a win by Hillary Clinton, the bank’s Chief Precious Metals Analyst James Steel says it’ll enjoy at least a 8 percent jump whoever wins the race.' An 8% jump from current levels would equate to gold prices of $1,407 per ounce, a level unseen since 2013.
- Let’s Be Clear – A Vote For Warmonger Hillary Clinton Is A Vote For World War 3
If you want to see war without end, vote for Hillary Clinton. It is tremendously ironic that Hillary Clinton and the mainstream media have attempted to portray Donald Trump as “dangerous” and “temperamental”, because it is Clinton that actually has a long history of being emotionally unstable. She has a temper that is absolutely legendary, and she has been cussing out the men and women in her security detail for decades. Hillary Clinton played a key role in starting the civil war in Syria, thanks to her Libya is a post-apocalyptic wasteland today, and now she is picking a fight with the Russians before she has even won the election. Of all the candidates there were running for president this election cycle, there was nobody that was even close to as dangerous as Hillary Clinton, and if she wins the election I am fully convinced that World War 3 will begin before her time in the White House is over.
- Dallas Fed Outlook Signals 22nd Straight Month Of Contraction
Dallas Fed's Manufacturing Outlook has now contracted for 22 consecutive months (the 2008/9 crisis collapse was 24 straight months) with a -1.5 print in October (missing expectations of +2). Production declined, Capacity Utilization tumbled, New Orders and Average Workweek contracted, and wages dropped (while prices paid rose).
- Get Ready For Civil Unrest: Survey Finds That Most Americans Are Concerned About Election Violence
Could we see violence no matter who wins on November 8th? Let’s hope that it doesn’t happen, but as you will see below, anti-Trump violence is already sweeping the nation. If Trump were to actually win the election, that would likely send the radical left into a violent post-election temper tantrum unlike anything that we have ever seen before. Alternatively, there is a tremendous amount of concern on the right that this election could be stolen by Hillary Clinton. And as I showed yesterday, it appears that voting machines in Texas are already switching votes from Donald Trump to Hillary Clinton. If Hillary Clinton wins this election under suspicious circumstances, that also may be enough to set off widespread civil unrest all across the country.
- Washington Prepares For EMP While Internet Under Attack Since Transfer to the UN
Remember how we pondered whether the internet would be shut off (or highly censored) upon being transferred to the UN on October 1st? Just a few weeks later, large swathes of the internet went down. Coincidence or trial run? We’ll get into that below. Beforehand, however, there have been a number of new “Executive Orders” straight from the e-pen of Barack O’Bomber in the last few months of a “very strange” variety. Over the summer, a number of orders were given for succession plans in the case of multiple deaths in numerous US agencies.
- Here’s How to Play the Upcoming Sovereign Debt Crisis
Analyst Larry Edelson explains why the global bond markets will soon have to “pay the piper,” and why that’s so bearish for bonds and bullish for equities and commodities. By this time next week, we’ll all know who the next president of the United States will be. But it won’t matter one iota. The reason: We’re in the early stages of a sovereign debt crisis, a massive storm that hits the global economy roughly every 80 years and where the piper always gets paid. Proof positive it’s starting: While central bankers have done virtually everything they could think of to prop up bond prices and depress interest rates to spark global economic growth.
- Germany unveils zero-emissions train that only emits steam
Germany is set to introduce the world’s first zero-emission passenger train to be powered by hydrogen. The Coradia iLint only emits excess steam into the atmosphere, and provides an alternative to the country’s 4,000 diesel trains. Lower Saxony has already ordered 14 of them from French company Alstom, and more are likely to be seen around the country if they are judged a success, reports Die Welt.
- Fed Fails To Save Stocks From Worst Losing Streak In 5 Years
Stocks (4mo lows) and HY Bonds (3mo lows) down 7 days in a row… the longest losing streak since Nov 2011. Post-Fed, gold and bonds were sold and oil bid which dragged stocks up a smidge… On the day, Trannies held on to green but all stocks ended with an ugly close with Small Caps notably weak again (highest beta to credit) – Dow closed below 18,000 and S&P below 2100…
- This Is What Gold Does In A Political Crisis, “Trump Might Actually Win” Edition
A week ago it looked like the US government was destined to end up firmly – maybe even more firmly — in the hands of the banks, public sector unions and defense contractors. Trump was imploding and the markets were basking in the prospect of never-ending liquidity from a re-energized Fed. And safe-haven assets like gold were being dumped in favor of growth stocks and the like. Then Anthony Weiner reached out from the grave to throw the result back into doubt. Polls have tightened, especially in crucial swing states, and it’s now at least conceivable that an outsider will gain control of bank regulation and nuclear codes, with all the uncertainty that that implies.
- TITANIC Battle Underway Over Return of the GOLD STANDARD | Jim Willie
A TITANIC battle is underway, where the Eastern nations are discarding their USTreasury Bonds, and doing so in tremendous volume while they set up the many platforms and pieces to the Gold Standard. The risk of war rises… The Western central bank franchise system is totally broken, totally insolvent, and totally corrupt. It invites the Gold Standard return. The entire financial system is built upon a debt-based monetary system. The debt saturation process has run its full course. The central bank heads have been covering the sovereign debt for the last five years, having rendered their balance sheets as ruined.
- Thomson Reuters Says It's Cutting 4% of Its Workforce
Thomson Reuters said on Tuesday it would cut about 2,000 jobs worldwide, about 4% of its workforce, and take a fourth-quarter charge of $200 million to $250 million to streamline its business. The restructuring across 39 countries and 150 locations would mainly affect the Financial & Risk business and the Enterprise, Technology & Operations Group, the news and information company said. The company employs about 48,000 people globally, a spokesman said. The changes come as part of its multi-year effort to streamline its businesses, said Jim Smith, chief executive, in an interview Tuesday.
- Marc Faber: Dow Could Reach 100,000
They could essentially monetize everything, and then you have state ownership. And through the central banking system, you introduce socialism and communism, which is state ownership of production and consumption. You would have that, yes, that they can do. The BoJ owns more than 50 percent of Japanese ETFs (exchange traded funds), which own large parts of the underlying companies. So indirectly they may own 20 percent of the Japanese companies, and they can go up to a higher level. I don’t think the central bankers are intelligent and smart enough to understand the consequences of their monetary policies at present. They focus on inflation but in my view they shouldn’t do anything. They don’t focus enough on what it does to the average standard of living of the people, to the average household income.
- All the News That Fits
You’re probably appalled at the American media’s shameless whoring for Hillary Clinton, asking yourself why they would so thoroughly debase their much-touted journalistic ethics. President Obama has answered that question. As reported by Agence France Presse, during a recent speech in Pittsburgh he postulated: “We are going to have to rebuild within this wild-wild-west-of-information flow some sort of curating function that people agree to.
- Recommended Reading: ‘When Money Dies: The Nightmare of the Weimar Collapse'
Precious metals expert Michael Ballanger discusses his favorite investing books and reviews the landscape for gold and the U.S. dollar between now and the end of the year. Since entering the hallowed halls of that venerable, old private Jesuit university, Saint Louis University, that sits near the banks of the equally-venerable-and-old man river, the “Mighty Mississippi,” I have kept a number of books in my library that shall remain as “life textbooks,” tomes upon which to refer in times of confusion, despair, joy and victory. Because of my background in hockey as a (much) younger man, I have always enjoyed re-reading sports books and one of my favorites was Ken Dryden's “The Game” because he described a team and league that had many members familiar to me in the 1970s. Thomas Hauser's “Muhammad Ali: His Life and Times” was another superb book about the singular, most-globally-recognized athlete of all time and, again, an athlete from the era in which I was raised.
- Currency vs Money: What’s the Difference?
If you look up the words “currency” and “money” in a thesaurus, each word will probably be listed as a suitable linguistic substitution for the other; however, their economic function is almost completely opposite. Understanding the difference between currency and money is critical to making smart decisions about preserving your wealth.
- Could Hillary Clinton start a world war? Sure as hell she could – and here’s how
You can condemn that semi-isolationist ‘America First' mindset if you want, but the easiest way to prevent the next world war is simply to let the Russians have what they want, provided it makes no difference to you. Like Donald Trump or not – and I like him no more than, well, Hillary Clinton – there is one thing he might be good for. Peace. A small matter, I know, when set against his serial (alleged) philandering and worse, but worth pondering for a moment. A hideous, but necessary thought experiment runs something like this.
- Why Aren’t Global Markets Freaking Out Over China’s Currency?
There were two dogs that did not bark this year. The Japanese yen, which despite negative interest rates and an unprecedented expansion of the central bank's balance sheet, strengthened 15% against the dollar. The yen has been the strongest major currency, and the third strongest currency in the world behind the high-yielding Brazilian real, recovering from last year's drop, and the Russian rouble, aided by a rebound in oil. The other dog that is not barking is China. In August 2015, and again at the start of is year, the decline of the yuan and weakness in Chinese equities reverberated around the world. It was even cited as a factor influencing the timing of the Fed removing accommodation. Since early this year, the yuan has continued to depreciate, and Chinese shares are among the worst performers. Yet it has not been a disruptive force.
- The Fed is Literally Broadcasting That It's Going to Let Inflation Run Wild
The biggest moves… the ones that make the MOST money in the markets are the ones no one is talking about for months. With that in mind, you NEED to know that the Fed is going to let inflation run wild in the US. That is not a hypothesis. In the last month we’ve had THREE different Fed officials state that they WANT inflation and that the Fed will let it run BEYOND the Fed’s target 2% rate.
- Here's A Doozie For You….Jim Stone Reveals Why the FBI Reopened The Killary Email Case….Hint…IT'S NOT WHAT YOU'VE BEEN TOLD….
An explanation for why the FBI re-opened Hillary's E-mails. Huma's husband, Anthony Weiner (which blows the whole Huma/Islam meme into the gutter, all we are seeing with this is the fact the “Muslims” running Saudi Arabia are crypto Jews) ANYWAY, Hillary was so sure she'd never be called to account with her E-mails that she was careless enough to have them end up on Weiner's personal laptop in a file he titled “life insurance”. Well, you know how the entire establishment is wrapped up in child sex and other similar crimes, and Weiner ended up getting his laptop seized by the NYPD in a kiddie porn/child sex investigation. When the NYPD went through the laptop, they found Hillary's E-mails in FULL UNADULTERATED PRISTINE FORM. They proved crimes of the highest order, at least 15 felonies found so far, with a majority of them related to treason and selling out the country.
- China & Russia Prepare For Chaos: Buying Gold
Mike looks at the recent ramp up in gold buying in the East, particularly China and Russia. And what it means for gold demand in the near term. Note: this is an excerpt of a GoldSilver Insider’s report sent earlier.
- Meltdown at Justice. Attorney General Lynch abdicated her duty in the Clinton probes.
Fewer than three of 10 Americans trust government to do the right thing always or most of the time, Gallup reports, and the years since 2007 are “the longest period of low trust in government in more than 50 years.” The details emerging about the multiple investigations into Hillary Clinton explain a lot about this ebbing public confidence in institutions such as the Justice Department and Federal Bureau of Investigation.
- U.S. election, rate uncertainty rattle Wall Street
Wall Street sold off on Tuesday, with the S&P 500 closing at the lowest level since July 7, amid growing concern over the impending U.S. presidential election and prospects for higher U.S. interest rates. Stocks pared losses after falling steeply in early afternoon trading as the S&P 500 breached a key technical level. The tumultuous presidential race between Democrat Hillary Clinton and Republican Donald Trump has appeared to tighten in the past week after news that the FBI was investigating more emails as part of a probe into Clinton's use of a private email system.
- Preparing for Post-Election Social Unrest
The 2016 election year is bringing out the worst among some elements of society. From vandalism to physical assaults to large scale race riots to terrorist bombings and mall stabbings, social disorder has become a more prominent feature of life in a polarized America. It’s easy (and politically convenient) for the establishment media to blame Donald Trump for inflaming the political divide. In reality, Trump supporters have far more often been the victims rather than the instigators of political violence.
- The End State: 5 Triggering Events That Would Place the U.S. Under Martial Law
Ready Nutrition Readers, as you are probably well aware, the Obama administration would like nothing more than to place the United States under Martial Law. Once that is accomplished, the country and people would be locked down and kept under control on the pretext of continuing with the government and/or maintaining the national security of the U.S. Let’s take a look at 5 events the administration would be most likely to utilize to reach this end state.
- Euro “Will Collapse” – Is “House of Cards” Warns Founder of Euro
The Euro “will collapse” as it is a”house of cards” warned Otmar Issing, the founder and creator of the euro in an extraordinary interview on Monday. In the explosive interview with the journal Central Banking, Professor Issing, said “one day, the house of cards will collapse” as the European Central Bank (ECB) is becoming dangerously over-extended and the whole euro project is unworkable in its current form. The founding architect of the monetary union has warned that Brussels’ dream of a European superstate will finally be buried among the rubble of the crumbling single currency he designed.
- BIG TROUBLE FOR COPPER: The Breakdown Of The Industry Has Begun
The king of base metals is in big trouble as indicators point to a breakdown of the global copper industry. This goes well beyond the typical “slowdown” or “downturn” in the copper market. Instead, we are going to witness what I refer to as “Copper Industry Carnage.” While some readers may feel as if I am being a bit “doom and gloomy” here, the situation in the global copper industry is much worse than most analysts realize. This is due to the fact that many analysts are forecasting copper supply deficits in the next few years, which would push the price of copper higher. Unfortunately, this sort of industry analysis is well behind the curve or even worse, guilty of wishful thinking. The world economy is slowing down… and this will likely pick up speed by the end of the year. Which means, demand for copper will continue to weaken, pushing prices even lower.
- What Triggers Collapse?
Though no one can foretell the future, it is self-evident that the status quo – dependent as it is on cheap oil and fast-expanding debt – is unsustainable. So what will trigger the collapse of the status quo, and what lies beyond when the current arrangements break down? Can we predict how-when-where with any accuracy? All prediction is based on extrapolating current trends. If we expect ‘more of the same', it’s not too difficult to make predictions about the near future. But history is not always simply more of the same. Suppose we are in the midst of an era that is as monumental as the first Industrial Revolution or the fall of Rome. Suppose we're in an era that will compress a century of transformation into the ten years from 2017 to 2026. In this scenario, those who get it right will be riding the disruptive wave that is crushing everyone who blithely expected ‘more of the same'. It is especially challenging to forecast the outcome of crises that break the status quo and establish a new social/economic order.
- Where Will All the Money Go When All Three Market Bubbles Pop?
Since the stock, bond and real estate markets are all correlated, it's a question with no easy answer. Everyone who's not paid to be in denial knows stocks, bonds and real estate are in bubbles of one sort or another. Real estate is either an echo bubble or a bubble that exceeds the previous bubble, depending on how attractive the market is to hot-money investors.
- Will Eliminating Cash Save The Economy? (Spoiler Alert: Don't Be Stupid!)
Given the still-subdued economic growth many experts are of the view that the presence of cash has constrained central banks from setting negative rates to stimulate the subdued economic activity. In a future economic or financial crisis, current low rates would restrict the effectiveness of monetary policy, so it is held. The presence of cash, it is argued, prevents the central banks from lowering policy rates to a level, which is going to meaningfully revive economic activity. What prevents the dramatic lowering of rates is that this is going to severely hurt savers who keep their cash in various bank accounts and so this is seen as politically unacceptable. The abolition of cash, it is held, is going to enhance the ability of the central banks to use negative rates (perhaps as low as minus 5 percent per year) and this would provide central banks with additional flexibility and tools to deal with a slowdown.
- The conscripts who went into the cold: Young Russians bid emotional goodbyes to their families as they are called up for national service while tensions between Putin and the West continue to rise
Some had smiles on their faces while others looked concerned as they left home for an uncertain future. Dozens of young men lined up in Omsk for the annual Russian autumn conscription where men aged 18-27 are obliged to spend a year in national service. Drafts take place twice a year – one in spring and one in autumn – but the timing of this one comes as President Vladimir Putin is beefing up his armed forces amid rising tensions with the West.
- Trump Wins By Landslide-Polls 100% Manufactured-Clif High
Internet data mining expert Clif High says the “naked data” on the Internet shows Trump winning the 2016 Presidential election by a “landslide.” High explains, “You can do a search on YouTube that brings back a list of primary speeches by both candidates. I am not talking about Fred Smith’s copy of a video he made of Trump. I am talking about a speech took officially of Trump, and they released it officially. If you take just those, you can see you’ve got Hillary Clinton on one side with 2,165 views, and Trump on the other side with 775,653 views. So, that is not anecdotal. This is a very crude level of statistical analysis, but it is nonetheless statistical analysis, and it is very pointed because it is extremely self-selecting. There is nobody watching you when you choose to watch something on YouTube. So, there is no peer pressure or external person polling you. . . . It’s what I call a very naked data set because there is no pressure on an emotional level on people.”
- Putin is gearing up for a ‘hot war' he doesn't want but WILL attack the West if he is provoked over Syria, warns former British Ambassador
Vladimir Putin is gearing up for a ‘hot war' he doesn't want – but will not back down if he provoked over Syria, Britain's former ambassador to Moscow has warned. Sir Anthony Brenton insists relations between the Kremlin and the West are ‘the most dangerous' he has ever seen amid heightened tensions over the country's bombing campaign in Syria. While Russia ‘means business' having sent warships past British shores and displayed its military might, Moscow is ‘weak' and does not want a war, Sir Anthony said.
- FINANCIAL CRACK-UP: Nomi Prins Just Warned When The System Crashes This Time, It Will Crash Harder
Nomi Prins, who meets with people from the Federal Reserve, IMF, World Bank, foreign central banks and high-raking government officials across the globe, just warned when the system crashes time time, it will crash harder. When It Crashes, It Crashes Harder. Nomi Prins: “The financial system is fragile. It (the crackup) has been contained for 8 going on what will be 9 years of cheap money, bond subsidization, banking subsidization, and of a codependency that is very fragile. I don’t know when that gives. I’ve tried to guess this throughout the years, but the point is that it only increases in its tension and its (ultimate) downfall with every day that it’s been subsidized artificially…
- ‘Ancestors are with us’: Wild buffalo stampede North Dakota pipeline protest
While demonstrators and police faced off during a protest against the Dakota Access Pipeline, a rather unexpected show of force emerged – a thundering herd of buffalo. A stampede near the Standing Rock protest camp prompted cries of joy from the Standing Rock Sioux. Footage of the moment, understood to have occurred on Thursday, shows a protester is being interviewed before stopping when spotting the herd of wild buffalo in the distance.
- More QE? Rate Hikes? Opposites Attract?
The entire financial world is holding its breath to see what the Federal Reserve decides to do at its next meeting in December. After having postponed a rate hike several times, it’s now increasingly likely a decision to increase the benchmark interest rates has been reached.
- 650,000 Emails Found On Anthony Weiner's Laptop; DOJ Blocked Foundation Probe
Yesterday, we reported that the FBI has found “tens of thousands of emails” belonging to Huma Adein on Anthony Weiner's computer, raising questions how practical it is that any conclusive finding will be available or made by the FBI in the few days left before the elections. Now, according to the WSJ, it appears that Federal agents are preparing to scour roughly 650,000 emails that, as we reported moments ago were discovered weeks ago on the laptop of Anthony Weiner, to see how many relate to a prior probe of Hillary Clinton’s email use, as metadata on the device suggests there may be thousands sent to or from the private server that the Democratic nominee used while she was secretary of state, according to people familiar with the matter.
- Deluded Tony Blair urges Remainers to become INSURGENTS to keep Britain IN the EU
A SHAMELESS Tony Blair has urged Remain voters to become insurgents to persuade Brexiteers Britain is better off staying in the EU – despite over 17million people voting to Leave. Mr Blair clashed repeatedly with Nick Robinson on the Today programme after he was accused repeatedly of trying to ignore a democratic vote. Despite recent economic boosts to the economy, including a rise in GDP and the decision of Nissan to back new car production in Sunderland, Mr Blair described Brexit as a “catastrophe”.
- The World Is Out of Weapons
No one likes to admit defeat. But global policymakers, who continue to insist that there's more they can do to revive growth and inflation, are starting to sound like Monty Python's Black Knight, the limbless and mortally wounded warrior who threatens to bleed on his victorious opponent. The truth is that governments and central banks have very few weapons left — and have probably lost any chance they once had of averting a prolonged stagnation.
- Russia loses UN Human Rights Council place, Saudi Arabia re-elected
For the first time since UNHRC's inception in 2006, Russia has lost an election to the UN Human Rights Council after being narrowly beaten by Croatia in a vote. Saudi Arabia was successfully re-elected, despite criticism from human rights organizations. The 47 places on the council are distributed on a regional basis, with staggered ballots seeing a third of the body re-elected each year. Russia had finished its three-year term and was running against Hungary and Croatia for the two available seats from Eastern Europe. With Hungary far ahead, Croatia received the votes of 114 of the 193 member countries, and Russia was selected on 112 ballots.
- 5 Things You Need To Know About The Dakota Access Pipeline Protests
A small Standing Rock Sioux site in North Dakota called the Sacred Stone Camp has been propelled into the national news narrative following their stand against the Dakota Access Pipeline. Due in part to independent media coverage of the ongoing standoff, the Sacred Stone camp has grown into a formidable opposition against the $3.8 billion, 1,200-mile long pipeline. Due to misinformation coming from law-enforcement, political favoritism toward the pipeline builders, and the media’s blatant reluctance to report on the pipeline, it’s hard to tell truth from fiction. Anti-Media, along with our partners in the independent media and our embedded journalist at the opposition encampment, have been covering the unfolding standoff continuously. Here are five things you need to know.
- FBI gets warrant to read Clinton probe emails
The FBI has obtained a warrant to start reviewing emails found on a laptop used by top Hillary Clinton aide Huma Abedin and her husband Anthony Weiner, according to reports from US media. The Wall Street Journal says the number of emails could total 650,000 – though not all of them are expected to be relevant to the Clinton investigation. This comes after Friday's bombshell that the FBI was again reviewing emails related to the democratic presidential candidate's private server. In a letter to Congress, the agency's director, James Comey, said new information had prompted an additional review of the case that ended in July.
- Self-driving truck makes first trip — a 120-mile beer run
If you're sipping a Budweiser somewhere in Colorado Springs, you just might have a robot to thank for that thirst-quenching brew. Last week, self-driving truck start-up Otto teamed with Anheuser-Busch to successfully deliver a semi-tractor full of beer from Fort Collins, through Denver and on to the southern Colorado city in the shadow of Pikes Peak. For the majority of that 120-mile trip, the truck's driver left his seat and observed the road from the comfort of the sleeper berth. An Otto video of the drive shows the slightly disconcerting image of a massive 53-foot trailer filled with 2,000 cases of Bud rumbling down I-25 with no human in the cab.
- Don Coxe Advises Buying Gold as Hedge Against Economic Crisis
With election day looming and the Fed seemingly in a civil war with itself, more and more financial experts are looking to buy gold in order to weather the recession. In a recent Financial Sense podcast, financial advisor Don Coxe explains how bad monetary policy, central bank overreach, and the coming economic crisis should prompt investors to consider buying gold.
- Deutsche Bank Probing “Misstated” Derivative Valuations After Finding “Divergences”
Perhaps the single biggest reason why Deutsche Bank's stock has been drastically underperforming most of Europe's banks, in addition to its skyhigh leverage and lack of capital buffer, is the market's concern about what is hidden on its books, namely whether the bank's billions in loans and its trillions in derivatives have been marked correctly. Which is why a just released report from Bloomberg that Deutsche Bank is reviewing whether it “misstated” the value of derivatives in its interest-rate trading business, will hardly spark optimism in the bank's critical asset marking practices; the good news is that according to the report the biggest German lender is sharing its findings with U.S. authorities, according to people with knowledge of the situation.
- Fed’s Williams Looks to December for the Next Rate Increase
Federal Reserve Bank of San Francisco President John Williams said the best time for the U.S. central bank to raise rates again likely will be at its policy gathering in December. Mr. Williams still expects one rate increase this year, and said it could happen at either of the two remaining rate-setting Federal Open Market Committee meetings in 2016. But it could be better to wait a bit longer to boost what is now a 0.25% to 0.50% overnight target rate range, he said in an interview Monday with The Wall Street Journal. That’s because Fed Chairwoman Janet Yellen will have a press conference at the Dec. 13-14 meeting, but not at the gathering scheduled for Nov. 1-2.
- Chinese Bank Liabilities Rise Above 200 Trillion Yuan For The First Time
By now it is widely accepted that the biggest credit risk facing the global financial system is not so much among western banks, which have been closely scrutinized, and their balance sheets are largely exposed to both regulators and the public (perhaps with a few notable exceptions), but are arising from China. And while China's total leverage, by most counts, is somewhere in the 300% range, according to the IFF…
- Richmond Fed Confirms Weakest Economic Trend Since 2008
For the first time since 2012, the Richmond Fed business surveyr has been in contraction (below 0) for 3 straight months (and 4 of the last 5). Worse still, the six-month average of the business survey has not deteriorated this fast since Q2 2008. While the underlying components were mixed, inventory levels dropped (bad for GDP), average workweek tumbled (bad for incomes), and new orders re-plunged. This is the worst drop in the six-month average of the Richmond Fed survey since Q2 2008…
- Subprime Credit Card Surge Pushing Up Missed Payments
Credit-card lending to subprime borrowers is starting to backfire. Missed payments on credit cards that lenders issued recently are higher than on older cards, according to new data from credit bureau TransUnion. Nearly 3% of outstanding balances on credit cards issued in 2015 were at least 90 days behind on payments six months after they were originated. That compares with 2.2% for cards that were given out in 2014 and 1.5% for cards in 2013. The poorer performance on newer cards pushed up the 90-day or more delinquency rate for all credit cards to 1.53% on average nationwide in the third quarter. That’s the highest level since 2012.
- More Bad News For Philadelphia: Obamacare Premiums Set To Soar More Than 50%
Yesterday the Obama administration confirmed what many Americans already knew: the monetary pressures imposed by Obamacare on the middle class are becoming unmanageable as a result of the average Obamacare premium set to spike by 25%, or hundreds of dollars of formerly disposable income that will be redirected to what is effectively a tax. However, in some states – especially those where the so-called recovery has failed to keep pace – such as Pennsylvania, the sticker shock will be far greater. As CBS Philadelphia reports, when the Affordable Care Act open enrollment period begins next week customers will see some changes, including fewer choices and higher prices. In Pennsylvania, the number of insurers in the marketplace has gone from 13 to eight. But the worst fate is set to befall the city that famously booed Santa Claus, Philadelphia, where CBS reports that just two insurers are left and premiums are expected to rise 53%.
- Anti-Trump Violence Sweeps The Nation
While the mainstream media has been working day and night promoting Hillary Clinton’s candidacy, it has largely ignored or downplayed violent attacks against supporters of Donald Trump. But assaults on Trump supporters appear to be growing increasingly common as Election Day approaches and tensions intensify. Reports of Trump lawn signs and banners being stolen and defaced are everywhere on social media. Making matters worse, undercover video evidence emerged showing senior Democrat operatives Robert Creamer and Scott Foval acknowledging using dirty, likely illegal tricks against the Trump campaign. Their goal was to generate negative media coverage of Trump rallies by fomenting violence at them. The media eagerly used the various fisticuffs and melees the Democrats created to attempt to discredit Trump by depicting his supporters as violent, knuckle-dragging crazies.
- Clinton Campaign Chair Had Dinner With Top DOJ Official One Day After Hillary's Benghazi Hearing
In the latest revelation sure to reignite accusations of collusion between the Clinton campaign and the DOJ, among the recent batch of hacked emails released by Wikileaks, we learn that the day after Hillary Clinton testified in front of the House Select Committee on Benghazi last October, John Podesta, Hillary's campaign chairman met for dinner with a small group of well-connected friends, including Peter Kadzik, who is currently a top official at the US Justice Department serving as Assistant Attorney General for Legislative Affairs.
- Government workers shun Trump, give big money to Clinton
Federal government employees are opening their wallets to help Hillary Clinton beat Donald Trump on Nov. 8. Of the roughly $2 million that federal workers from 14 agencies spent on presidential politics by the end of September, about $1.9 million, or 95 percent, went to the Democratic nominee’s campaign, according to an analysis by The Hill. Employees at all the agencies analyzed, without exception, are sending their campaign contributions overwhelmingly to Clinton over her Republican counterpart. Several agencies, such as the State Department, which Clinton once led, saw more than 99 percent of contributions going to Clinton.
- Is the Fed Fix in for the election?
As we near Halloween, the US stock market looks like it’s whistling past the graveyard near the end of a year that I predicted would be the dawn of “the Epocalypse.” (By that, I meant an economic apocalypse, the likes of which we’ve never seen.) So far, however, that prediction has not manifested. In fact, the market’s fibrillating heartbeat in this graph exhibits a preternatural and eery calm. But it is too calm — too calm to be natural. The stock market plunged on my predicted schedule at the start of the year in what turned into the worst January in the US stock market’s history. Then, suddenly, it was resurrected, great death defied; but, after a rapid recovery it lost consciousness and now behaves more like the walking dead.
- Leaked Soros Memo Exposes Obama's Secret TPP Negotiations; Hillary “Flip-Flopping”
In addition to providing a glimpse into the internal, and often confrontational, dialogue that took place within the Clinton campaign on topics ranging from Hillary's email server, to coordination and collusion with the media, to the planning how to attack Bernie Sanders, to the fascinating strife and conflicts of interest within the Clinton Foundation and the Clinton Global Initiative, the Podesta leaks have also been instrumental in providing the public with insight into Hillary's flip-flopping views on the TPP. Indeed, as the WSJ put it recently, a running question through the presidential race has been whether Hillary Clinton is sincere in saying she opposes the 12-nation Asian trade deal that is one of the Obama administration’s top overseas priorities.
- The True Story: Donald Trump Did Not Mock a Reporter’s Disability
At the Democratic National Convention speakers are repeating the claim, amplified ad nauseam by the left and establishment GOP opponents over the past year, that Donald Trump mocked the disability of New York Times reporter, Serge Kovaleski. This accusation has served as a very convenient tool to both smear Trump’s character and to avoid having to confront him on substantive political issues. But is it true? Here is the story the media is not telling you.
- The FBI is investigating new emails related to Hillary Clinton uncovered in probe into Anthony Weiner's sexting
The FBI said Friday it would reopen its investigation into Hillary Clinton's private email server after learning of “the existence of emails that appear to be pertinent to the investigation” — emails that officials later said were discovered amid an investigation into former congressman Anthony Weiner. FBI Director James Comey, in a letter to congressional leaders, said the team in charge of looking into Clinton's server briefed him Thursday on new emails it found “in connection with an unrelated case.” “The FBI cannot yet assess whether or not this material may be significant,” Comey wrote. “I cannot predict how long it will take us to complete this additional work.”
- Caterpillar rally imperiled as sales recovery proves elusive
Caterpillar Inc. is the best-performing industrial stock this year on bets its cost-cutting efforts will reap rewards as demand recovers. The problem is, demand's not recovering. The world's biggest maker of construction and mining equipment is expected to forecast a fifth straight annual sales decline in 2017 when it reports quarterly earnings today. Revenue will slip to $39.5 billion in 2017 from $40.1 billion this year, according to the average of analysts' estimates tracked by Bloomberg. It was $47 billion in 2015. The Peoria-based company hasn't had an annual revenue gain since posting a record in 2012.
- U.N. Goes All-in For Unlimited Migration
The United Nations has cooked up a “New Urban Agenda” coming soon to a city near you. It was unveiled this week in Quito, Ecuador, at the so-called Habitat III conference. And part of the plan, enthusiastically embraced by Hillary Clinton, calls for unlimited migration across open borders. Migrants displaced by war, failing economies or other hardships will be seen as having “rights” in nations other than their own. Cities are seen as the key battlegrounds and the U.N. conference in Quito had a lot to say about how your city will be expected to embrace migrants of all types, from all regions of the world. By now most Americans who follow world events are familiar with the U.N’s plan for global governance as envisioned by its “2030 Agenda for Sustainable Development,” approved by some 190 world leaders including President Obama and Pope Francis in September 2015.
- In emails, aide stressed need to ‘clean up’ Obama’s comments on Clinton’s email
A top aide to Hillary Clinton appeared to worry in March 2015 that President Obama might be accused of lying about his knowledge of Clinton’s private email server. In a brief email chain released by WikiLeaks on Tuesday, Clinton allies seemed to scurry to respond to Obama’s claim that he was unaware of Clinton’s use of a personal email account while she was secretary of State until after it became public.
- Major banks mark first-ever international trade using blockchain tech
The first cross-border transaction between banks using multiple blockchain applications has taken place, Commonwealth Bank of Australia and Wells Fargo & Co said on Monday, resulting in a shipment of cotton to China from the United States. Australian cotton trader Brighann Cotton Marketing bought the shipment bound for the port city Qingdao from U.S. division Brighann Cotton in Texas, the companies and their banks said in a joint statement. The blockchain trade, for 88 bales, totalled $35,000, Commonwealth Bank told Reuters. Blockchain is a web-based transaction-processing and settlement system whose efficiency banks say could slash costs. It creates a “golden record” of any given set of data that is automatically replicated for all parties in a secure network, eliminating any need for third-party verification.
- As China Liquidates US Treasuries, It is “Gobbling” Up Japanese Government Bonds
As we reported one week ago, the latest Treasury International Capital report revealed something disturbing: not only had foreign central banks sold a record amount of US Treasurys in the past 12 months, some $346 billion worth… but America's largest foreign creditor, China, sold a record $34 billion in US paper in the latest month, and bringing its total holdings to the lowest since 2012.
- Hungary Keeps Main Rate at Record Low Before Deposit Squeeze
Hungary’s central bank left its benchmark interest rate at a record low for a fifth month and signaled its willingness to ease policy further as it rolled out more unconventional measures to loosen monetary conditions. The National Bank of Hungary left the three-month deposit rate at 0.9 percent Tuesday, matching forecasts. The central bank at the same time cut its overnight lending rate to 1.05 percent from 1.15 percent and lowered the mandatory reserve ratio to 1 percent from 2 percent. Hungarian rate setters are shifting their focus to unconventional policy, citing a preference to hold the benchmark rate for a sustained period to avoid having to reverse any potential cuts. On Wednesday, the monetary authority will start pushing out commercial-bank deposits parked in its facilities.
- The Pentagon’s ‘Terminator Conundrum’: Robots That Could Kill on Their Own
The small drone, with its six whirring rotors, swept past the replica of a Middle Eastern village and closed in on a mosque-like structure, its camera scanning for targets. No humans were remotely piloting the drone, which was nothing more than a machine that could be bought on Amazon. But armed with advanced artificial intelligence software, it had been transformed into a robot that could find and identify the half-dozen men carrying replicas of AK-47s around the village and pretending to be insurgents. As the drone descended slightly, a purple rectangle flickered on a video feed that was being relayed to engineers monitoring the test. The drone had locked onto a man obscured in the shadows, a display of hunting prowess that offered an eerie preview of how the Pentagon plans to transform warfare.
- China's Banks Are Running Out of Ways to Keep Profits Growing
China’s five largest banks are facing an increasingly daunting balancing act as they try to avoid snapping a streak of rising earnings. The state-controlled lenders have managed to keep profits increasing every year since 2004, sending a message about the resilience of China’s financial system. Keeping that trend alive is becoming tougher because of rising bad loans and pressure on lending margins. While analysts expect another quarter of profit growth when Bank of China Ltd., Industrial & Commercial Bank of China Ltd., Agricultural Bank of China Ltd., China Construction Bank Corp. and Bank of Communications Co. report earnings this week, it might just be a matter of postponing the inevitable. For the full year, the five are projected to post a 2 percent decline in net income, according to analysts surveyed by Bloomberg.
- After 20,000 Job Cuts, World’s Top Shipyards Brace for More
South Korea’s shipbuilding industry — home to the world’s top three manufacturers — has eliminated more than 20,000 jobs this year. They may not even be halfway through. Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. are among builders that have sent workers home and the industry could lose as many as 40,000 more positions by the end of this year, the Korea Labor Institute estimated. The sector employed 163,000 people at the end of June, down from 183,000 at the end of December, according to the Korea Offshore & Shipbuilding Association. The “Big Three” yards have lost a combined 6.6 trillion won ($5.8 billion) in the last six quarters amid delivery delays and a plunge in demand for new vessels and shipping platforms used for drilling oil in deep sea. Once South Korea’s biggest export, shipbuilding has now slipped down the ranks of the top 10, prompting a state-led support package. “If things don’t start to turn around next year, we could be on a long and painful path,” said Hong Sung-in, a researcher at the Korea Institute for Industrial Economics & Trade in Sejong, South Korea.
- Pastor Lindsey Williams introduces Pastor David Bowen – October 27, 2016
Pastor Lindsey Williams introduces Pastor David Bowen with his fifth 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).