Posted at 9:52 AM (CST) by & filed under Bill Holter.

Bill forecasted 2017 as “the year of the truth bomb” which looks to be happening in spades.  As year end approaches we ask for your help in compiling a list of events to be filed under the “truth bomb” category.  We ask that between now and year end you send Bill whatever you believe to be a truth bomb (with a link to story if possible) at  bholter@hotmail.com

Please title your e-mail “2017 Truth Bomb” so it will be easily recognizable to archive.

Bill will use this list for a year end article the last week of the year.

Thank you in advance for your help and efforts!

Posted at 12:59 PM (CST) by & filed under Jim's Mailbox.

From our friend Werner. This is quite a chart in an “everything bubble” world. You might notice how cheap gold was in 2012 at $1,900? When financial panic sets in, gold will accrue “value” from all directions because it has no liability attached to it. Gold will be the ONLY thing not “questioned” in a world where everything is questioned…

Bill

Subject: Constant 1920 Dollars

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So let me get this straight JB, if I live in a neighborhood of 100 houses and just two of my move out…the market “breaks”? This market is a little thin don’t you think?

Best,

Bill

BOE Warns Weekly Fund Redemptions Of 1.3% Would Break Corporate Bond Market
November 17, 2017

The Bank of England has done some timely and truly eye-opening research into the resilience of corporate bond markets. The research is contained in the Bank of England Financial Stability Paper No.42 and is titled “Simulating stress across the financial system:  the resilience of corporate bond markets and the role of investment funds” by Yuliya Baranova, Jamie Coen, Pippa Lowe, Joseph Noss and Laura Silvestri.

The starting point of the analysis is to revisit the Global Financial Crisis (GFC) which saw $300 billion of related to subprime mortgages amplified to well over $2.5 trillion of write-downs across the global financial system as a whole. One of the problems was that the system was structured in a way that did not absorb economic shocks, but amplified them. The amplification came via a feedback loop. As the crisis unfolded, fears about credit worthiness of banks led to the collapse of interbank lending. Weaker banks had their funding withdrawn, which led to a downward spiral of asset sales and the strangling of credit in the broader economy.

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The paper notes that, since then progress has been made and the Bank of England’s stress tests now include the feedback loop created by interbank loans.

Indeed, the 2016 test showed that the potential for solvency problems to spread between UK banks through this channel has “fallen dramatically” since the crisis. Furthermore, interbank lending has been cut back and is more often secured against collateral.

The report cautions that other feedback loops might be present, especially since banks only account for about half of the UK financial system. Indeed, a key objective for regulators is to assess how the non-bank part of the system – termed “market-based finance” in the paper, responds to economic shocks. In particular, could the non-bank system, which trades “market-based finance” (principally bonds), amplify shocks in a similar way to the banking system during the last crisis? The report characterises market-based finance and the related risks as follows.

More…

Posted at 6:43 PM (CST) by & filed under Jim's Mailbox.

I though it was a lost version of “Lost in Space”. Nope…it was GQ

JB

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The following articles are courtesy of CIGA JB

Jim

Hell Freezes Over=> Chelsea Handler Tells Juanita Broaddrick She Believes Bill Clinton Raped Her
November 16, 2017

On Sunday, Chelsea Handler took a swipe at Judge Roy Moore and tweeted, “Imagine being molested by an older man. Then that man denies ever doing it and then goes on and gets elected to United States senate. What kind of message does that send to young girls everywhere? And men to all the men who abuse women?”

Juanita Broaddrick, who has credibly accused Bill Clinton of rape, slammed Chelsea Handler and responded, “Yeah, @chelseahandler I can imagine. I was raped by the Arkansas AG who then becomes Governor & President and NBC held my interview explaining the rape until after his impeachment hearing. But I’m sure you don’t want to go there.”

<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>Yeah, <a href=”https://twitter.com/chelseahandler?ref_src=twsrc%5Etfw”>@chelseahandler</a> I can imagine. I was raped by the Arkansas AG who then becomes Governor &amp; President and NBC held my interview explaining the rape until after his impeachment hearing. But I&#39;m sure you don&#39;t want to go there. <a href=”https://t.co/s9W8NZsaZ3″>https://t.co/s9W8NZsaZ3</a></p>&mdash; Juanita Broaddrick (@atensnut) <a href=”https://twitter.com/atensnut/status/929899833950982145?ref_src=twsrc%5Etfw”>November 13, 2017</a></blockquote>

<script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>

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Wall St. Traders Secretly Used Chat Rooms To Rig Treasury Bond Prices: Suit
November 16, 2017

Wall Street banks secretly shared client information in online chat rooms in order to rig auctions for the $14 trillion US Treasurys market, according to an explosive lawsuit filed in Manhattan federal court on Wednesday.

The move wrongly fattened the banks’ profits and picked profits from clients, the suit claims.

The new accusations, leveled by several pension funds and wealthy individual investors, are contained in an expanded class-action suit originally filed in July 2015 — and include an unusual twist: Some of the evidence came from confidential informants and one of the banks sued in the earlier action.

That bank is now cooperating with the plaintiffs in the massive civil action, and is providing an in-depth look into how Wall Street allegedly conspired to rig Treasury bond trades.

The revised lawsuit expands on details on how the banks conspired to set Treasury bond prices — like moves to manipulate the price of the bonds higher on days when there was a lot of demand, and vice versa, court papers claim.

The banks worked their scam for years until The Post first reported in June 2015 of the existence of a government investigation into the alleged actions, the updated lawsuit claims.

The funds, representing retirees and public workers, also claim the banks conspired to rig the secondary Treasury markets beginning in the 1990s through tightly controlled electronic platforms that inhibited more competitive trading — a new allegation that wasn’t in the original suit but mirrors similar complaints filed against banks in other markets, like stock loans.

The amended suit tightens its focus on a select number of banks, naming Goldman Sachs, Morgan Stanley, the Royal Bank of Scotland, BNP Paribas, and UBS, among others, as the firms behind the rigging, which they allege occurred from Jan. 1, 2007, to mid-2015.

Last year, the judge presiding over the class-action suit had questioned whether the claims were strong enough to proceed.

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Justice Department Gives 29 ‘Sanctuary’ Cities, States Until Dec. 8 To Prove Compliance With Immigration Law
November 15, 2017

clip_image003The Justice Department warned 29 jurisdictions that in order to continue receiving public safety grants, the jurisdictions must prove compliance with Section 1373 of 8 U.S. Code by Dec. 8. AG Jeff Sessions said, “We urge jurisdictions to not only comply with Section 1373, but also to establish sensible and effective partnerships to properly process criminal aliens.” (AP Photo/Wilfredo Lee)

The Department of Justice on Wednesday told Illinois, Oregon, and Vermont and 26 “sanctuary” cities and counties around the country that they were found to have “laws, policies or practices” that violate federal immigration laws, and that failure to demonstrate compliance by early December could mean reduced federal grants.

The new jurisdictions range across the nation, and include big cities like Seattle and Los Angeles, as well as smaller ones like Lawrence, Mass.

The department warned the 29 jurisdictions in separate letters that in order to continue receiving public safety grants under the Justice Department’s Edward Bryne Memorial Justice Assistance Grant Program, the jurisdictions must prove compliance with Section 1373 of 8 U.S. Code by Dec. 8.

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EXCLUSIVE: Saudi Arabia King To Step Down And Hand Over The Crown To His 32-Year-Old Son After Prince Rounded Up Saudi Royals In Corruption Arrests And Had Them Sleep On Bare Mattresses In A Luxury Hotel
November 16, 2017

The King of Saudi Arabia plans to step down and announce his son as his successor next week, a source close to the country’s royal family has exclusively told DailyMail.com.

The move is seen as the final step in 32-year-old Prince Mohammed bin Salman’s power grab, which began earlier this month with the arrests of more than 40 princes and government ministers in a corruption probe.

The source said King Salman will continue only as a ceremonial figurehead, handing over official leadership of the country to his son – often referred to as MBS.

‘Unless something dramatic happens, King Salman will announce the appointment of MBS as King of Saudi Arabia next week,’ said the source.

‘King Salman will play the role of the queen of England. He will only keep the title “Custodian of the Holy Shrines”.’

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King Salman of Saudi Arabia (left) is planning to step down next week and name his son Prince Mohammed bin Salman (right) as his successor, a source told DailyMail.com

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Protect Your Savings With Gold: ECB Propose End To Deposit Protection
November 14, 2017

– Protect Your Savings With Gold: ECB Propose End To Deposit Protection
– New ECB paper proposes ‘covered deposits’ should be replaced to allow for more flexibility
– Fear covered deposits may lead to a run on the banks
– Savers should be reminded that a bank’s word is never its bond and to reduce counterparty exposure
– Physical gold enable savers to stay out of banking system and reduce exposure to bail-ins

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It is the ‘opinion of the European Central Bank’ that the deposit protection scheme is no longer necessary:

‘covered deposits and claims under investor compensation schemes should be replaced by limited discretionary exemptions to be granted by the competent authority in order to retain a degree of flexibility.’

To translate the legalese jargon of the ECB bureaucrats this could mean that the current €100,000 (£85,000) deposit level currently protected in the event of a bail-in may soon be no more.

But worry not fellow savers as the ECB is fully aware of the uproar this may cause so they have been kind enough to propose that:

“…during a transitional period, depositors should have access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request.”

More…



Jim/Bill,

It’s finally coming. An escape pod for holders of bitcoin.

As we know, if holders wanted to sell in a panic, there would be no real bid. I’ve heard it said that if one large seller were to hit the market, the bid for bitcoin would drop to a penny!

So everyone is sitting with bitcoins trading at $7,000 to $8,000 a pop. Could bitcoin rise to $50,000? Perhaps.

But any real selling would see the bids drop away in seconds.

What to do?

Why not establish a bitcoin futures market where you can hedge your long position and protect yourself in a massive downdraft.

Short the bitcoin futures and voila!, your protected.

The real problem that arises is someone on the other side of trade will get badly burned.

Futures markets are notoriously highly leveraged.

Imagine bitcoin dropping $8,000 in minutes, or $50,000, with no bid in sight.

How do the longs in the futures market escape?

This could be dangerously close to triggering a financial collapse. Not dissimilar to the mortgage derivative plays in 2007.

Wanna bet the FED rescues these culprit speculators with our hard earned money?

CIGA Wolfgang Rech

Swiss Bank To Launch Bitcoin Futures To Allow Betting Against Cryptocurrency
November 16, 2017

ZURICH (Reuters) – Swiss bank Vontobel said it will start trading Switzerland’s first two mini futures to short bitcoin on Friday, giving investors a tool to bet against the value of the volatile cryptocurrency or to hedge bitcoin positions.

The launch of the two mini futures on the Swiss stock exchange by the country’s second-biggest provider of structured products comes after CME Group Inc, the world’s largest derivatives exchange operator, said it will launch a futures contract for bitcoin later this year.

When the value of bitcoin falls by 10 percent, the value of the more conservative of the two mini futures rises by almost 6 percent while the other gains almost 10 percent, according to the termsheets Vontobel published on Thursday.

The value of bitcoin has fluctuated wildly this month, plunging as much as 29 percent last week from its Nov. 8 record high of $7,888 and then recovering more than a third of its value in the last four days.

For the year, it is up more than 600 percent – a meteoric rise that has prompted many to warn that bitcoin has become a bubble that could be set to burst.

The launch of the two mini futures on the Swiss stock exchange by the country’s second-biggest provider of structured products comes after CME Group Inc, the world’s largest derivatives exchange operator, said it will launch a futures contract for bitcoin later this year.

When the value of bitcoin falls by 10 percent, the value of the more conservative of the two mini futures rises by almost 6 percent while the other gains almost 10 percent, according to the termsheets Vontobel published on Thursday.

The value of bitcoin has fluctuated wildly this month, plunging as much as 29 percent last week from its Nov. 8 record high of $7,888 and then recovering more than a third of its value in the last four days.

More…

Posted at 9:40 AM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

The latest from John Williams’ www.shadowstats.com

– Outlook for U.S. Economic and Financial-Market Activity Continues to Darken
– That Former Malarial Swamp on the Potomac Offers a Tax Bill Penalizing U.S. Tax Payers with the First Formal Use of the Chained-CPI-U
– Unwinding Hurricane Impact Softened October CPI Inflation
– October CPI-U Monthly Inflation Slowed to 0.11% (Was 0.55%) Pulling Annual CPI-U Inflation Lower to 2.04% (Was 2.23%), with CPI-W at 2.05% (Was 2.31%) and ShadowStats at 9.8% (Was 10.0%)
– A Nonsense October PPI Surge Was Due to Collapsing Gasoline Prices
– October 2017 Final-Demand PPI Inflation Monthly Gain of 0.44% Pulled Annual Gain to a 69-Month High of 2.79%, from 2.62% in September 2017
– Unrevised Real Average Weekly Earnings Declined Minimally in Third-Quarter, on Early Track for a Meaningful Fourth-Quarter 2017 Contraction
– Storm Impact Still Boosted October Retail Sales, While Long-Range, Non-Recovering and Downtrending Economic Trends Remained in Play –

“No. 920: October 2017 Retail Sales, Consumer and Produce Price Indices ”

http://www.shadowstats.com

Posted at 10:33 PM (CST) by & filed under Jim's Mailbox.

Africa has awakened to the cancer of corruption. Those leaders move to eliminate this scourge may well be the best thing that has happened to them and the continent, ever. Courtesy of JB.

Jim

Zimbabwe’s Mugabe ‘Under House Arrest’ After Army Takeover
November 15, 2017

Zimbabwe’s military has placed President Robert Mugabe under house arrest in the capital Harare, South African President Jacob Zuma says.

Mr Mugabe told Mr Zuma in a phone call that he was fine, the South African leader’s office said.

Troops are patrolling the capital, Harare, after they seized state TV and said they were targeting “criminals”.

The move may be a bid to replace Mr Mugabe with his sacked deputy, Emmerson Mnangagwa, BBC correspondents say.

Mr Mnangagwa’s dismissal last week left Mr Mugabe’s wife Grace as the president’s likely successor.

Mr Mugabe, 93, has dominated the country’s political scene since it gained independence from the UK in 1980.

How the drama unfolded

After days of tension and rumour, soldiers seized the state broadcaster ZBC late on Tuesday.

A Zimbabwean army officer, Major General Sibusiso Moyo, went on air and denied there was a coup, but said the military was targeting “criminals” around President Mugabe.

Maj Gen Moyo also said Mr Mugabe and his family were “safe and sound and their security is guaranteed”. It is not clear who is leading the military action.

Since then military vehicles have been out on the streets of Harare, while gunfire has been heard from northern suburbs where Mr Mugabe and a number of government officials live.

In a statement, Mr Zuma’s office said: “President Zuma spoke to President Robert Mugabe earlier today who indicated that he was confined to his home but said that he was fine.”

More…

Only the truly braindead or disingenuous claim gold and silver (or nearly all other markets for that matter) are not manipulated JB…

Bill

 

 

Dear Friend of GATA and Gold:

When Federal Reserve Chairman Alan Greenspan testified to Congress in July 1998 that “central banks stand ready to lease gold in increasing quantities should the price rise,” was he, as GATA maintains, essentially confessing to the gold price suppression scheme?

Financial letter writer Avi Gilburt of ElliottWaveTrader.net disputes that in commentary posted today at GoldSeek, “Did the Fed’s Alan Greenspan Admit that Gold Is Being Manipulated?”:

http://news.goldseek.com/GoldSeek/1510755000.php

Gilburt argues that Greenspan’s comments have been taken out of context. Instead, Gilburt writes, Greenspan “was saying that if someone attempted to manipulate the gold market, the Fed may have a tool to combat such manipulation attempts. More importantly, he never even opined as to whether such a tool would or could be successful.”

Greenspan’s July 1998 testimony remains posted at the Fed’s internet site, where GATA has cited it many times:

https://www.federalreserve.gov/boarddocs/testimony/1998 /19980724.htm

His topic was “The Regulation of OTC Derivatives” and he was trying to dissuade Congress from legislating to regulate them. His full comment about gold was this:

“Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.”

That is, Congress needn’t worry about a long corner in gold because central banks always had the ability to short the market.

Yes, as Gilburt notes, Greenspan didn’t confirm that central banks were shorting and thus manipulating the gold market at that moment. Unfortunately it seems that no member of the committees to which Greenspan testified that month ever asked.

But note what Greenspan did not say: “Central banks stand ready to buy gold in increasing quantities should the price fall because of a short corner.”

More…

Posted at 10:37 AM (CST) by & filed under In The News.

Bill Holter’s Commenatry

The 2nd Amendment is there to thwart overzealous jerks like Joe Biden.  Can you imagine the oppression if “we the people” were not armed?

Joe Biden: Stephen Willeford Shouldn’t Have Had The Gun He Used To Stop Church Shooter
November 14, 2017

Former Vice President Joe Biden is a walking gaffe. When he’s not sticking his foot in his mouth, he’s saying non-sensical things, and it wasn’t any different when on the Today show he was asked about gun control.

Watch this and marvel at what he says:

 

More…

 

Posted at 3:38 PM (CST) by & filed under Bill Holter.

You should know by now of the power consolidation in Saudi Arabia. What we don’t know for sure is which way King Salman and son will lean, East or West? It does look by the names arrested, the Saudis are leaning away from the Bush/Clinton/deep state as these were allies/business associates of those arrested.

Were the Saudi arrests in any way connected to the hundreds of sealed indictments issued in the U.S. (while our president was overseas)? This is a tough one because we do not know the names of those indicted. My gut tells me yes but we will have to see. I can tell you this, we certainly have a “coincidence” where Hillary broke her right toe and John McCain snapped his right Achilles tendon over the same weekend. They are both wearing “boots”, could they both also be wearing ankle bracelets? Nothing would please me more than to see right foot “boots” become an epidemic!

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Posted at 10:46 AM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Look at the security of Security. Progress will to kill us all eventually. one way or another. Cyber can lovers are nuts. If you cam have one computer you can hack 1000. then you get kick on your door. It is the IRS come to help you.

Bill Holter’s Commentary

…when even the hackers get hacked you must wonder about the “unhackable”?

Security Breach and Spilled Secrets Have Shaken the N.S.A. to Its Core
November 12, 2017

WASHINGTON — Jake Williams awoke last April in an Orlando, Fla., hotel where he was leading a training session. Checking Twitter, Mr. Williams, a cybersecurity expert, was dismayed to discover that he had been thrust into the middle of one of the worst security debacles ever to befall American intelligence.

Mr. Williams had written on his company blog about the Shadow Brokers, a mysterious group that had somehow obtained many of the hacking tools the United States used to spy on other countries. Now the group had replied in an angry screed on Twitter. It identified him — correctly — as a former member of the National Security Agency’s hacking group, Tailored Access Operations, or T.A.O., a job he had not publicly disclosed. Then the Shadow Brokers astonished him by dropping technical details that made clear they knew about highly classified hacking operations that he had conducted.

America’s largest and most secretive intelligence agency had been deeply infiltrated.

“They had operational insight that even most of my fellow operators at T.A.O. did not have,” said Mr. Williams, now with Rendition Infosec, a cybersecurity firm he founded. “I felt like I’d been kicked in the gut. Whoever wrote this either was a well-placed insider or had stolen a lot of operational data.”

The jolt to Mr. Williams from the Shadow Brokers’ riposte was part of a much broader earthquake that has shaken the N.S.A. to its core. Current and former agency officials say the Shadow Brokers disclosures, which began in August 2016, have been catastrophic for the N.S.A., calling into question its ability to protect potent cyberweapons and its very value to national security. The agency regarded as the world’s leader in breaking into adversaries’ computer networks failed to protect its own.

More…

Bill Holter’s Commentary

Time to buy more pharmaceutical stocks? Seriously, talk about a load of government BS, “people need to make lifestyle changes or start taking medication”…really? Sorry but this one really pisses me off!

New Blood Pressure Range Means Half Of Americans Have Hypertension
November 13, 2017

(Reuters) – Tighter blood pressure guidelines from U.S. heart organizations mean millions more people need to make lifestyle changes, or start taking medication, in order to avoid cardiovascular problems.

Americans with blood pressure of 130/80 or higher should be treated, down from the previous trigger of 140/90, according to new guidelines announced on Monday by the American Heart Association and the American College of Cardiology.

At the new cutoff, around 46 percent, or more than 103 million, of American adults are considered to have high blood pressure, compared with an estimated 72 million under the previous guidelines in place since 2003.

High blood pressure accounts for the second-largest number of preventable heart disease and stroke deaths in the United States, second only to smoking.

The guidelines do not change the definition of normal blood pressure as 120/80 or lower.

Potentially deadly high blood pressure can be brought under control with a wide array of medications, many sold as relatively inexpensive generics. The drug classes include angiotensin receptor blockers, such as Novartis AG’s Diovan, calcium channel blockers, like Pfizer Incs’s Norvasc, ACE inhibitors, including Pfizer’s Altace, and diuretics, such as Merck & Co Inc’s Hyzaar.

More…

Bill Holter’s Commentary

From my mentor “Yoda”, we have been warned of “equal wealth distribution” for several years now.

For The First Time Ever, The “1%” Own More Than Half The World’s Wealth: The Stunning Chart
November 14, 2017

Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what has become the single biggest reason for the recent “anti-establishment” revulsion: an unprecedented concentration of wealth among a handful of people, as shown in Swiss bank’s infamous global wealth pyramid, an arrangement which as observed by the “shocking” political backlash of the past year, suggests that the lower ‘levels’ of the pyramid are increasingly unhappy about.

As Credit Suisse tantalizingly shows year after year (most recently one year ago), the number of people who control roughly half of the global net worth, or 45.9% of the roughly $280 trillion in household wealth, is declining progressively relative to the total population of the world, and in 2017 the number of people who were worth more than $1 million was just 36 million, roughly 0.7% of the world’s population of adults. On the other end of the pyramid, some 3.5 billion adults had a net worth of less than $10,000, accounting for just about $7.6 trillion in household wealth. And inbetween is the so-called global middle class – those 1.4 billion people whose rising anger at the status quo made Brexit and Trump possible.

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As the report authors write, there is just one group to have benefited from the Fed’s post-crisis monetary policies: ” Our calculations show that the top 1% of global wealth holders started the millennium with 45.5% of all household wealth. This share was about the same until 2006, then fell to 42.5% two years later. The downward trend reversed after 2008 and the share of the top one percent has been on an upward path ever since, passing the 2000 level in 2013 and achieving new peaks every year thereafter. According to our latest estimates, the top one percent own 50.1 percent of all household wealth in the world.”

As the bank then laconically adds, “Global wealth inequality has certainly been high and rising in the post-crisis period.” And as the chart below shows, in 2017, for the first time ever, the richest 1% now controls just over half, or 50.1%, of global wealth.

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More…

Bill Holter’s Commentary

Say it isn’t so…even in the hallowed halls of Congress?

Lawmakers describe pervasive sexual harassment on Capitol Hill

November 14, 2017

Efforts to combat sexual harassment on Capitol Hill gained momentum on Tuesday as female lawmakers shared stories of male colleagues engaging in predatory behavior.

Lawmakers in both parties had already expressed support for mandatory sexual harassment awareness training, which is currently voluntary for legislative branch staffers. But they went further in a House Administration Committee hearing on Capitol Hill’s harassment policies and said even more can be done in a male-dominated workplace where sexual harassment can be pervasive.

Rep. Jackie Speier (D-Calif.), in testimony before the panel, said at least two current members of Congress have engaged in sexual harassment.

“In fact, there are two members of Congress, Republican and Democrat, right now, who serve, who have been subject to review or not have been subject to review, but have engaged in sexual harassment,” said Speier, who declined to name the male lawmakers.

Rep. Barbara Comstock (R-Va.) offered another example. She shared a story of a male lawmaker — still in Congress — who asked a young female staffer to bring materials to his residence. He opened the door dressed in only a towel, invited her inside and proceeded to expose himself.

The staffer subsequently quit her job.

More…

Posted at 10:39 AM (CST) by & filed under Jim's Mailbox.

JB sends us this without tongue in cheek…

Bill

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Looking into Jr.’s massive Russian agenda…

JB

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Bill/Jim,

Think ‘Fukushima, Japan’…..? Scientists are shocked??? You’ve got to be kidding.

Lon

Scientists Shocked As Fisheries Collapse On West Coast: “It’s The Worst We’ve Seen”
November, 13, 2017

The Gulf of Alaska cod populations appears to have taken a nose-dive. Scientists are shocked at the collapse and starving fish, making this  the “worst they’ve ever seen.”

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“They [Alaskan cod] get weak and die or get eaten by something else,” said NOAA’s Steve Barbeaux.

The 2017 trawl net survey found the lowest numbers of cod on record forcing scientists to try to unravel what happened. A lot of the cod hatched in 2012 appeared to survive, but by 2017, those fish were largely gone for the surveys, which also found scant evidence of fish born in subsequent years. Many of the cod that have come on board trawlers are “long skinny fish” according to Brent Paine, executive director of United Catcher Boats.

“This is a big deal,” Paine said. “We just don’t see these (cod) year classes disappear from one year to the next.”

The decline is expected to substantially reduce the gulf cod harvests that in recent years have been worth — before processing — more than $50 million to Northwest and Alaska fishermen who catch them with nets, pot traps, and baited hooks set along the sea bottom.

Barbeaux says the warm water, which has spread to depths of more than 1,000 feet, hit the cod like a kind of a double-whammy. Higher temperatures sped up the rate at which young cod burned calories while reducing the food available for the cod to consume. And many are blaming “climate change” for the effects on the fish, although scientists aren’t directly correlating the two events. “They get weak and die or get eaten by something else,” said Barbeaux, who in October presented preliminary survey findings to scientists and industry officials at an Anchorage meeting of the North Pacific Fishery Management Council.

More…

Lon,

Probably blame it on La Nina Lon? Maybe legislate “safe spaces” for fish? Or maybe we need more gun control, that’ll fix it!

Bill

From our pal Dave in the witness protection program.

Bill

It’s the beginning of the end of “no tell” virtual money. Kicking a sleeping elephant in the rear is a no-no, even Mahout understands.

Jim

Jim/Bill,

Here they come; they want their share of the winnings!

Dave

The IRS Is Puzzled: Why Out Of 500,000 Coinbase Users, Only 900 Reported Gains Or Losses
November 13, 2017

Almost exactly one year ago, the IRS realized that it could be leaving billions of dollars on the table in the form of uncollected taxes, and launched a tax-evasion probe on the largest US Bitcoin exchange, Coinbase, seeking to identify all Coinbase users in the U.S. who “conducted transactions in a convertible virtual currency” from 2013 to 2015.

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In a vexing paradox for cryptocurrency traders who had hoped they could avoid the IRS indefinitely as someone, somewhere once may have mentioned, the higher the price of bitcoin rose, the more motivated the IRS was to obtain access to user transaction records. Or, as Bloomberg put it, “the exploding value of the cryptocurrency since its first real-world transaction in 2010 is one reason the U.S. Internal Revenue Service is pushing to see records on thousands of users of Coinbase Inc., one of the biggest U.S. online exchanges. The company’s digital currency platform allows gains to be converted into old-fashioned dollars in transactions that the IRS alleges are going unreported.”

To be sure, as we have reported over the past year, Coinbase and industry trade groups are fighting back in court, claiming the government’s concerns about tax fraud are unfounded and that its sweeping demand for information is a threat to privacy. That however, did not stop the IRS which claimed in a court filing that “U.S. taxpayers, including Coinbase users, have made use of virtual currencies to avoid the reporting and payment of taxes.” The agency said it needs access to customer records to “gain some degree of visibility into a space where it is already necessarily moving about somewhat in the dark.”

Meanwhile, both Coinbase and bitcoin have exploded. Whereas Coinbase had under 5 million users last November when the IRS filed its lawuist, as of last week it had 12.2 million users, deploying 41 million virtual currency wallets in 32 countries that have so far exchanged $40 billion in digital currency. The price of bitcoin hit a record high just under $8,000 at the start of November, more than 10x higher than in November 2016.

The biggest problem, however, and the reason why the IRS is unlikely to relent is that as the IRS said, it detected a “reporting gap” between the 500,000 virtual currency users Coinbase reported between 2013 and 2015 and the less than 900 bitcoin users reporting gains or losses for each of those years.

More…

Bill, Jim,

In case you’ve missed it – a fascinating article on Bloomberg today. Turns out exports to the US account for only about 5% of Saudi Arabia’s oil production. What do you think will be their next step regarding ways of payment?

Take care and keep well,

CIGA Rose

Saudi Retreat From U.S. Oil Market Cuts Exports to 30-Year Low
November 13, 2017

For a generation, the huge, whitewashed storage tanks at America’s largest oil refinery in Port Arthur, Texas, have stored almost nothing but Saudi crude.

The plant is owned by Saudi Arabia’s state-run oil company, Aramco, and since it first bought a stake in 1988, the Motiva refinery guaranteed the kingdom a strategic foothold in the world’s largest energy market. The tankers carrying millions of barrels a month of Arab Light crude from Saudi export terminals to Port Arthur were testament to the strength of the energy and political ties binding Riyadh and Washington.

All of a sudden, there are very few Saudi ships arriving in Texas. Since July, Aramco has constricted supply, attempting to drain the crude storage tanks at Motiva — and many others across America — part of a plan to lift oil prices, even at the cost of sacrificing its once prized U.S. market.

While Motiva is most affected, the rest of the U.S. oil refining system, from El Segundo in California to Lake Lake Charles in Louisiana, has also taken a hit. The result: Saudi crude exports into America fell to a 30-year low last month.

“The drop is huge,” said Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd. in London. “It’s not just that Saudi exports are low, but they have been low for several months.”

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Very good point Rose and speaks directly to the “petro” left in the petrodollar?

Best,

Bill

Jim/Bill,

Why is this not surprising?

Once you back something with gold, it becomes real, versus virtual.

Perhaps it’s simply a matter of dilution, but the basic headlines imply gold’s power to impress.

CIGA Wolfgang Rech

Bitcoin Plunges Over $2,000 In A Week As Bitcoin Gold Launches
November 12, 2017

(Kitco News) – Bitcoin dropped more than $2,000 in just under a week, as traders digested the launch of the digital currency’s offshoot known as bitcoin gold on Sunday.

The popular digital currency was seen trading at an all-time high of $7,899.90 on November 8 but then dropped down to just $5,450.40 on November 12, according to Kitco’s aggregated charts.

Developers behind the bitcoin gold fork launched the new offshoot on Sunday at 2 p.m. E.T.

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Mysterious Dave(?) checks in again with another great question…

Bill

Jim/Bill,

Why make RT register? We have MSM/Pravda right here.

Dave

Selected Articles: Mainstream Media “Fake News”, War Propaganda
November 12, 2017

We bring to the attention of Global Research readers a selection of articles focussing on the obfuscation of truth through media manipulation as well as the routine dissemination of war propaganda

These articles show how media lies and fabrications are used as a justification to wage so-called “humanitarian wars”.

If you consider these articles useful, please consider making a donation and/or becoming a Global Research Member. Any amount large or small will contribute to the broader objective of Truth in Media.

You can also help us by forwarding this selection far and wide, discussing it within your circle of friends and colleagues, reposting our articles on blog sites and social media, etc.

FAKE NEWS: BBC criticised for using Iraq 2003 photo to illustrate Syrian massacre

By Global Research, November 11, 2017

The British Broadcasting Corporation (BBC) has been slammed for mistakenly using a photo taken in Iraq in 2003 to illustrate the Syria 2012 massacre, in which over 100 people, including 32 children, were brutally killed.

Fake News Used to Justify All Out War: The Bosnian Serb “Death Camp” Fabrication. Pretext for R2P “Humanitarian Intervention” (1992) in Yugoslavia

By Global Research News, November 10, 2017

Serbian emergency shelters for Bosnian refugees sold to the public as a concentration camp to win public support for international intervention.

The Attack on ‘Fake News’ Is Really an Attack on Alternative Media

By Dave Lindorff, November 09, 2017

These are tough days to be a serious journalist. Report a story now, with your facts all lined up nicely, and you’re still likely to have it labeled “fake news” by anyone whose ox you’ve gored — and even by friends who don’t share your political perspective. For good measure, they’ll say you’ve based it on “alternative facts.”

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Well said Rosemary!

Bill

Rosemary LaBonte: To the editors of a California newspaper in response to an article written by Ernie Lujan who suggests we should tear down the Statue of Liberty because the immigrants of today aren’t being treated the same as those who passed through Ellis Island and other ports of entry. The paper never printed this response, so her husband sent it out via internet.

Maybe we should turn to our history books and point out to people like Mr. Lujan why today’s American is not willing to accept this new kind of immigrant any longer. Back in 1900 when there was a rush from all areas of Europe to come to the United States, people had to get off a ship and stand in a long line in New York and be documented.

Some would even get down on their hands and knees and kiss the ground. They made a pledge to uphold the laws and support their new country in good and bad times. They made learning English a primary rule in their new American households and some even changed their names to blend in with their new home.

They had waved goodbye to their birth place to give their children a new life and did everything in their power to help their children assimilate into one culture. Nothing was handed to them. No free lunches, no welfare, no labor laws to protect them. All they had were the skills and craftsmanship they had brought with them to trade for a future of prosperity.

Most of their children came of age when World War II broke out. My father fought alongside men whose parents had come straight over from Germany , Italy , France and Japan None of these 1st generation Americans ever gave any thought about what country their parents had come from. They were Americans fighting Hitler, Mussolini and the Emperor of Japan . They were defending the United States of America as one people.

When we liberated France , no one in those villages were looking for the French American, the German American or the Irish American. The people of France saw only Americans. And we carried one flag that represented one country. Not one of those immigrant sons would have thought about picking up another country’s flag and waving it to represent who they were. It would have been a disgrace to their parents who had sacrificed so much to be here. These immigrants truly knew what it meant to be an American. They stirred the melting pot into one red, white and blue bowl.

And here we are with a new kind of immigrant who wants the same rights and privileges. Only they want to achieve it by playing with a different set of rules, one that includes the entitlement card and a guarantee of being faithful to their mother country.

I’m sorry, that’s not what being an American is all about. I believe that the immigrants who landed on Ellis Island in the early 1900’s deserve better than that for all the toil, hard work and sacrifice in raising future generations to create a land that has become a beacon for those legally searching for a better life. I think they would be appalled that they are being used as an example by those waving foreign country flags.

And for that suggestion about taking down the Statue of Liberty , it happens to mean a lot to the citizens who are voting on the immigration bill.

I wouldn’t start talking about dismantling the United States just yet.

Keep this letter moving.

For the wrong things to prevail, the rightful majority needs to remain complacent and quiet.