In The News Today

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Online Right Fumes After Youtube Ad Crackdown
September 30, 2017

YouTube is in hot water with conservative users and creators, with the Google-owned video giant accused of discriminating against the right as YouTube takes ads off content that it says violates the terms of service.

Last month, YouTube quietly made moves to remove advertisements on certain types of content that it says is not consistent with its terms of service. YouTube doesn’t serve ads on demonetized videos, meaning big hits to the bottom line for conservative YouTube personalities.

YouTube says that its efforts are aimed at cracking down on hate speech, but conservative and right-wing video creators say they’re frustrated by the changes.

The video streaming service began the initiative after several major companies like Coca-Cola, Amazon and Microsoft pulled their ads from YouTube in the spring after the Times of London noticed that advertisements for their brands appeared alongside videos of hateful, offensive or even pro-terrorist content.

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Bill Holter’s Commentary

I wonder how he will respond to market “rigging” questions if he’s chosen? Get the popcorn ready for this one!

President’s top candidate to lead Fed knows all about gold market rigging
September 29, 2017

Dear Friend of GATA and Gold:

President Trump’s top candidate for the next chairman of the Federal Reserve Board appears to be former board member Kevin M. Warsh, who has complained repeatedly about the Fed’s manipulation of markets and in 2009 revealed to GATA that the Fed has secret gold swap arrangements with foreign banks.

According to news reports like this one from Bloomberg today —

https://www.bloomberg.com/news/articles/2017-09-29/trump-mnuchin-are-sai…

— Warsh met Thursday with the president and Treasury Secretary Steven Mnuchin to discuss the Fed chairman’s job.

In September 2009, adjudicating GATA’s Freedom of Information Act request to the Fed for access to documents involving gold swaps, Warsh wrote:

“In connection with your appeal, I have confirmed that the information withheld under Exemption 4 consists of confidential commercial or financial information relating to the operations of the Federal Reserve banks that was obtained within the meaning of Exemption 4. This includes information relating to swap arrangements with foreign banks on behalf of the Federal Reserve System and is not the type of information that is customarily disclosed to the public. This information was properly withheld from you.”

[Emphasis added.]

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Bill Holter’s Commentary

If this is winning, I’d hate to see what losing looks like?

‘The New Washington’: Though Out of Power, Democrats Are Winning the Fight, Pelosi Says
September 30, 2017

WASHINGTON — Representative Nancy Pelosi might have retired from Congress had Hillary Clinton been elected, content that she was leaving the government in capable female hands.

“One of the reasons I stayed here is because I thought Hillary Clinton would win, we’d have a woman president and so there would be a woman not at a seat at the table, but at the head of the table for the world,” said Ms. Pelosi, the liberal Californian and longtime leader of House Democrats.

“We wanted to have a woman president,” she said in an interview for the New York Times podcast “The New Washington.” “But when we didn’t, then I couldn’t walk away and say, O.K., just let all the men have the seats at the table that are making decisions for our country.”

As Republicans last week came up short yet again in their push to repeal the Affordable Care Act — a health care law that she was instrumental in writing and enacting as speaker of the House — Ms. Pelosi feels she is taking good advantage of the place she retained at the negotiating table. By virtue of Democratic unity and Republican disarray, she said, Democrats have been able to shape spending bills to their liking (no border wall, for instance) and hold off Republicans on their attempts to unravel the health care law.

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Bill Holter’s Commentary

History does rhyme!

How The Popularity Of Passive Investing Precludes A Pleasant Outcome
September 28, 2017

One question passive investors may want to ask themselves today is, ‘When has any investment strategy become as popular as passive investing has today and also had a pleasant outcome?’

To quantify the popularity of passive investing, we can simply look to product creation. What is the most popular financial product of the day? Clearly, it’s index ETFs targeted at passive investors.

Last year there were 167 new ETFs created. So far there have been 24 new ETFs created this month in just 15 trading days and we are on pace to break last year’s record in just the first 9 months of 2017. The similarities to investment trusts in the late-1920’s are uncanny (from Rainbow’s End):

To feed this insatiable appetite for stocks, promoters happily pushed forward mergers creating new shares and still more investment trusts. Early in August the New York Times noted that “hardly a week now passes but a new investment trust appears.” By September the birth rate had swollen to nearly one a day, a pace that “left Wall Street in a quandary as to where the movement will halt.” By year’s end 265 new investment trusts had produced a staggering $3 billion in new shares; 14 of them had assets exceeding $100 million.

Probably the greatest expression of the popularity of passive investing is the fact that there are now more indexes than there are individual stocks in the market!

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Bill Holter’s Commentary

Shocking!

Figures. Trump Bashing San Juan Mayor Was Big Hillary Clinton Supporter in 2016
October 1, 2017

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Just four days ago San Juan, Puerto Rico Mayor Carmen Yulin Cruz Soto praised FEMA for the work on the island.

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Puerto Rico was devastated by Hurricane Irma and then Hurricane Maria a categaory 5 monster hurricane two weeks later.

But Caren Yuliz Cruz Soto is a Democrat so she expects everything to be given to her for free.

On Friday she went out on all of the liberal mainstream news outlets and trashed President Trump.

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Bill Holter’s Commentary

What did they expect? Too late now, they have elected something like a dozen mayors in major cities (including London) across the land … I surely would not want to be a young British girl in their world! And please save your outraged comments, the truth might hurt but it’s still the truth.

‘BURIED BY ISLAM’Ukip’s New Leader Says The Weight Of Immigration And The Rise Of Islam Is ‘Burying British Culture’
September 30, 2017

THE weight of immigration and the rise of Islam is leading to British culture being “buried”, according to Ukip’s new leader.

Henry Bolton said there is a concern amongst people that their way of life is being “pushed aside”, and vowed to “address it” as he spoke to The Sun a day after his shock election.

The 54-year-old ex-Army officer had said he wanted to move the party away from focusing on Islam after their manifesto earlier this year contained an “integration agenda” which was almost entirely about Muslims.

And the issue had been brought back to the fore when the controversial anti-Islam campaigner Anne-Marie Waters was the favourite to win the leadership election.

Mr Bolton, who pushed her into second place yesterday, signalled a softening stance on the issue when he spoke to the media, saying he had a “broad platform” and wanted to “move away from the focus on Islam”.

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Bill Holter’s Commentary

…ticket sales down. Ratings down. Fans burning memorabilia. They might not like “America” but I can guarantee they love those American dollars …for now! Are these guys idiots or what? N.F.L. – No Fans Left?

Protests Muted Week After NFL Responds To Trump Criticism
October 1, 2017

GLENDALE, Ariz. (AP) — The San Francisco 49ers played on Thursday last week, before President Donald Trump lashed out at NFL players for not standing during the national anthem.

So as teams across the league kneeled, sat and raised fists in protest, the team once at the epicenter of anthem protests was home watching it on TV.

With a week to think about it, the 49ers came up with their own demonstration of unity.

Just before Sunday’s game against the Arizona Cardinals, San Francisco’s players formed two lines for the national anthem. The players in the front kneeled and the players in the back remained standing, setting off a round of boos at University of Phoenix Stadium.

Many of the standing players placed one hand on their heart, the other on the shoulder of a kneeling teammate in a sign of solidarity.

“For more than a year, members of our team have protested the oppression and social injustices still present in our society,” the 49ers said in a statement. “While some may not have taken a knee or raised a fist, we have all shared the desire to influence positive change. Today, our team chose to publicly display our unity in a new way and, in turn, urge others do the same. Our demonstration is simply a representation of how we hope our country can also come together by putting differences aside and solving its problems.”

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Bill Holter’s Commentary

…And just what do you think will happen from here? How does “democracy” explain ignoring a democratic vote? Populism is rising and globalism is sinking at every turn. This is everywhere in the West because the West is failing based on a flawed and failed banking model. Are you ready for the violence coming to a theatre near you?

The Results Are In: 89% Of Catalans Vote For Independence
October 1, 2017

Update (6:30 pm ET): In further proof that Spain’s brutal crackdown on today’s Catalan independence referendum only helped bolster the seccessionist cause, the regional government announced that voters had overwhelmingly voted in favor of independence, with 89% voting to separate from Spain.

Shortly after midnight on Sunday, Catalan government spokesman Jordi Turull announced that 2,262,424 ballot papers had been counted. There were 2,020,144 “yes” votes, or just under 90% of the total, and just 176,565 “no” votes.

The regional government has promised to officially declare independence within 48 hours.

Even though Spanish authorities ruled that the vote was illegal, Dimitrij Rupel, head of the International Parliamentary delegation on Catalonia’s referendum, said at a news conference in Barcelona on Sunday that the referendum on independence was prepared in agreement with Spanish existing legislation, potentially setting up the regional government for a legal battle.

In a speech earlier this evening, Spanish Prime Minister Mariano Rajoy, who tried to suppress the vote by jailing public officials, shutting down electronic voting systems, ordering police to manually destroy ballots and seal off polling places, declared that no referendum had taken place.

All eyes now turn to Catalan leader Carles Puigdemont as tensions between Spain and its restive state are expected to come to a head, as the prospect of intensifying street violence looms.

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