Posts Categorized: In The News

Posted by & filed under In The News.

Bill Holter’s Commentary

This is just another pin in the dollar’s balloon! First yuan for oil, now oil backed crypto rubles …what is the straw that breaks the dollar’s back?

Russia May Turn To Oil-Backed Cryptocurrency To Challenge Sanctions & The Petrodollar
December 11, 2017

The gradual acceptance of digital currencies, with major exchanges about to launch bitcoin futures trading, may prompt some oil producing nations to ditch the US dollar in crude trade in favor of cryptocurrencies, an oil analyst says.


As RT reports, Russia, Iran and Venezuela have more than one thing in common.

All three are major oil producing nations dependent on the dollar since the global crude market is traditionally dominated by contracts denominated in US currency.

Moscow, Tehran and Caracas are also facing US sanctions; penalties which are proving effective since the sanctioned countries are dependent on the US dollar to sell their crude.

A decentralized currency – allowing anonymous transactions along with blockchain technology support to facilitate oil contracts – may be the ideal tool to allow the oil producing trio to turn their back on the greenback.

“The advent of cryptocurrencies, therefore, represents a fresh catalyst for commodity-producing countries wishing to abandon the dollar as a means of payment for oil,” said Stephen Brennock, oil analyst at PVM Oil Associates, in a research note seen by CNBC.

Several oil producers have already voiced plans to ditch the dollar in oil trading.


Last week, Venezuela announced it will launch its own cryptocurrency, the “Petro,” which will be backed by the country’s vast natural resource reserves.

Russia, China and Iran are currently pursuing currency swap agreements to eliminate the US dollar from trade.


Bill Holter’s Commentary

I guess we should ask, how many times will the Clown News Network get knocked down before they don’t get back up again?

CNN Walks Back Jeff Sessions-Russia Bombshell
December 11, 2017

CNN has quietly walked back more of their “bombshell” reporting on the Trump-Russia collusion narrative, and this time it’s a story relating to Attorney General Jeff Sessions’ security clearance forms.

In May, CNN reported that Sessions had failed to disclose meetings he had with the Russian ambassador when he was a senator. Justice Department officials told CNN that Sessions had not listed those meetings on a security clearance form, even though the form says to list “any contact” with the “foreign government” or its “representatives” in the past seven years.

CNN framed the non-disclosures as more evidence of collusion between Russia and the Trump team, writing, “He has come under withering criticism from Democrats following revelations that he did not disclose the same contacts with Kislyak during his Senate confirmation hearings earlier this year.”

At the time, Sessions said he was told by the FBI not to list meetings “connected with his Senate activities,” but CNN’s legal expert denied those claims.

“A legal expert who regularly assists officials in filling out the form disagrees with the Justice Department’s explanation, suggesting that Sessions should have disclosed the meetings,” CNN asserted.


Judge Jeanine: There Needs to Be a ‘Cleansing’ at the FBI, DOJ
December 10, 2017

In her Opening Statement Saturday night, Judge Jeanine Pirro said there needs to be a “cleansing” at the FBI and the Department of Justice.

Judge Jeanine ran down a list of individuals who she said have been dedicated to protecting Hillary Clinton or destroying President Donald Trump, singling out Deputy Director of the FBI Andrew McCabe, FBI official Peter Strzok, former Associate Deputy Attorney General Bruce Ohr, former FBI Director James Comey and Special Counsel Robert Mueller.

“There have been times in our history where corruption and lawlessness were so pervasive, that examples had to be made. This is one of those times,” she said.

She said the FBI and Justice Department have too many “political hacks” embedded, individuals who have never accepted that the American people elected Donald Trump to be commander-in-chief.

“I for one am tired of investigations, politicians posturing. Something more has to be done,” Judge Jeanine said. “The stench coming out of the FBI and Justice Department is like that of a Third World country where money and boys and clubs decide elections.”


Bill Holter’s Commentary

We keep harping about “truth” and why it is important.  What will the reaction be when it arrives full scale and engulfs everything?

US Engulfed In The Most Corrupt Scandal In History & All Roads Lead Back To Obama
December 7, 2017


Jim Sinclair’s Commentary

The latest from John Williams’

– Private Surveying of November Labor Conditions Showed Continuing Annual Contraction and Ongoing Non-Expansion
– Still-Heavily-Distorted, November Unemployment Rates Notched Minimally Higher: U.3 Rose to 4.12% versus 4.07%, U.6 Rose to 7.96% from 7.91%, and the ShadowStats-Alternate Rose to 21.7% from 21.6%
– Hurricane-Warped Unemployment and Employment Household-Survey Details Face Near-Term Corrections with the January 5th Benchmark Revisions
– Low-Level Annual Payroll Growth Continued to Signal New Recession – Seasonal-Adjustment Gimmicks Bloated Headline Payroll Gains, where Unadjusted Payrolls Revised Lower but Adjusted Levels Revised Higher; Payroll-Survey Benchmark Revisions Loom for February 2nd
– Fourth-Quarter 2017 Real Merchandise Trade Deficit on Early Track for Worst Showing Since First-Quarter 2007
– October 2017 Nominal Balance of Payments Trade Deficit Increased by 8.6% versus September 2017, by 13.1% versus October 2016
– Shy of Recovering Its Pre-Recession Peak by 22.0% (-22.0%), Real Construction Spending Continued in Annual Decline, as Last Seen During the 2006 Housing Collapse
– Amidst Expectations of a December 13th FOMC Rate Hike, November 2017 M3 Annual Growth Eased Back to 4.6% from 4.8% in October, as Monetary-Base Annual Growth Jumped to a Four-Year High of 8.1%

“No. 924: November Labor, Private Surveying and M3, October Trade Deficit and Construction Spending”

Posted by & filed under In The News.

Bill Holter’s Commentary

Here it comes yet barely reported on!

China Will Run Trade Tests for Yuan Oil Futures This Weekend, Hopes to Roll Out Contracts by Year-End
December 8, 2017

(Yicai Global) Dec. 8 — A unit under Shanghai Futures Exchange will hold market-wide training simulations tomorrow and on Dec. 10 in preparation for the formal inauguration of the crude oil futures contract, Sina reported yesterday.

The International Energy Exchange conducted four mock trading exercises for crude futures in June and July. It will look to roll out the contracts by the end of this year, an official at INE said after the last session.

Oil consumption in the Asia Pacific region as a percentage of the global total has continued to rise in recent years, and the region has become the main growth driver for international petroleum use. Crude futures will serve as a barometer for supply, demand and price fluctuations in China and the Asia Pacific oil markets, similar to the West Texas Intermediate and Brent indicators in the US and Europe, an energy futures manager at Shanghai Futures Exchange said.


Bill Holter’s Commentary

…I guess we will find out about the liquidity issue?

The Bulgarian Government Is Sitting on $3 Billion in Bitcoin
December 7, 2017

A crackdown on organized crime by Bulgarian law enforcement in May resulted in the seizure of more than 200,000 bitcoins – an amount worth more than $3 billion at today’s prices.

According to a press release dated May 19 from the Southeast European Law Enforcement Center (SELEC), a regional organization comprised of 12 member states including Bulgaria, a total of 213,519 bitcoins were seized that month. Twenty-three Bulgarian nationals were arrested during the operation, and officials said at the time that the arrests and subsequent asset seizures followed an investigation into an alleged customs fraud scam.

As of press time, the amount seized is worth approximately $3.3 billion, at a price of roughly $15,524, according to CoinDesk’s Bitcoin Price Index (BPI).

Authorities commented at the time:

“The offenders choose the bitcoin way of investing/saving the money, because it is rather difficult to be tracked and followed.”

They further alleged that those involved developed a virus which was used to hack into Bulgarian Customs computers, allowing the perpetrators to skip paying fees when transporting goods into the country. The virus was uploaded to government machines by bribed agents, according to the release.


Bill Holter’s Commentary

This is hilarious! If you want to have some fun, scroll around the stadium to see how many tickets are still for sale for the Rams/Eagles game! Please don’t tell me the tickets are not sold because of the fires, it has been this way since the season started on its knees. This game is between the leaders of the NFC West and NFC East…yet Fox is “auditioning” actors to play as Ram fans for the pregame? What kind of business plan is this?

Bill Holter’s Commentary

This is the YouTube by Architects and Engineers that David spoke of during our call for subscribers

Video: I Believe in 9/11 Miracles
December 7, 2017


Bill Holter’s Commentary

Goes right along with what we spoke of today on our call for subscribers…

Peak Fantasy Time
December 8, 2017

If you want to know why both Wall Street and Washington are so delusional about America’s baleful economic predicament, just consider this morsel from today’s Wall Street Journal on the purportedly awesome November jobs report.

Wages rose just 2.5% from a year earlier in November—near the same lackluster pace maintained since late 2015, despite a much lower unemployment rate. But in a positive sign for Americans’ incomes, the average work week increased by about 6 minutes to 34.5 hours in November…. November marked the 86th straight month employers added to payrolls.


Six whole minutes added to a work week that has been shrinking for decades owing to the relentlessly deteriorating quality mix of the “jobs” counted by the BLS establishment survey. In fact, even by that dubious measure, the work week is still shorter than it was at the December 2007 pre-crisis peak (33.8) and well below its 2000 peak level.

The reason isn’t hard to figure: The US economy is generating fewer and fewer goods producing jobs where the work week averages 40.5 hours and weekly pay equates to $58,400 annually and far more bar, hotel and restaurant jobs, where the work week averages just 26.1 hours and weekly pay equates to only $21,000 annually.

In other words, the ballyh0oed headline averages are essentially meaningless noise because the BLS counts all jobs equal—-that is, a 10-hour per week gig at the minimum wage at McDonald’s weighs the same as a 45 hour per week (with overtime) job at the Caterpillar plant in Peoria that pays $80,000 annually in wages and benefits.


Bill Holter’s Commentary

Maybe these “lost troops” know where our missing $21 trillion went to?

Report: 44,000 ‘Unknown’ Military Personnel Stationed Around The World
December 7, 2017

WASHINGTON — The U. S. military has more than 44,000 troops across the globe that the Pentagon claims it cannot track, according to a recent report.

“We are not at a point where we can give numbers other than those officially stated,” said Army Col. Rob Manning, a Pentagon spokesman.

The report — compiled by the Defense Manpower Data Center under the Office of the Secretary of Defense — shows more than 44,000 personnel in a category labeled “Unknown.”

Active-duty military personnel number slightly more than 1.3 million in the Army, Navy, Marine Corps and Air Force, and hundreds of thousands more civilian personnel fall under Defense departments. That number does not include Reserve and National Guard formations that might be active at any particular time.

The United States has military personnel in nearly every country in the world, ranging from two liaison officers in Fiji to tens of thousands from all of the service branches in Japan and Germany, according to the report.


Manning said during a press briefing Wednesday that troop numbers in Syria are about four times higher than reported by the Pentagon, with 2,000 present in the country. He also clarified that there are 5,200 in Iraq, up from about 5,000 reported earlier.

“We seek to balance informing the American public with the imperative of operational security and denying the enemy any advantage,” Manning said at the briefing.


Posted by & filed under In The News.

Bill Holter’s Commentary

So what else is new? The problem they are creating is no one will ever believe them IF they actually uncover real news. We should have known all those years ago during the Iraq war when their reporter put a gas mask on and it turned out to be in front of a blue screen. Truly the most busted news in the business!

CNN Botches “Bombshell” Report “Proving” Collusion Between Trump Jr And Wikileaks
December 8, 2017

CNN misreported key details of an offer made to Donald Trump Jr. last year of a batch of stolen Wikileaks documents.

The story, which CNN published on Friday and covered extensively on TV, was touted as the first evidence that the Trump campaign was given a heads-up about documents stolen from Democrats.

But the story appears to have been riddled with errors, while also lacking key context.

Perhaps the most jarring error in the CNN report is the date on which Trump Jr. was sent the email. The network reported that a person named Mike Erickson emailed Trump Jr. and others on the Trump campaign on Sept. 4, 2016, with a link to Wikileaks documents as well as a decryption key to access them.

The email also offered access to emails that had been stolen from former Sec. of State Colin Powell, according to CNN.

But a copy of the email provided to The Daily Caller shows that Erickson sent the email on Sept. 14.

That date is significant because WikiLeaks had released a batch of stolen documents on Sept. 13. The group touted its release of the DNC documents, which were published by Guccifer 2.0


Posted by & filed under In The News.

House Passes Concealed Carry Gun Bill
December 6, 2017

Two months after the deadliest shooting in modern U.S. history, the House on Wednesday passed legislation that would allow people to use permits for carrying concealed handguns across state lines while also boosting the background check system.

Despite bipartisan support for enhancing background checks for gun purchases, the bill passed along party lines, 231-198, due to Democratic opposition to the concealed-carry reciprocity measure.

Six centrist Democrats voted with Republicans to approve the package: Reps. Sanford Bishop (Ga.), Henry Cuellar (Texas), Vicente Gonzalez (Texas), Ron Kind (Wis.), Collin Peterson (Minn.) and Kurt Schrader (Ore.).

Fourteen Republicans voted “no,” including a mix of conservatives and centrists.

Conservative Rep. Thomas Massie (R-Ky.) held the mirror opposite position of Democrats who voted against the legislation: he supports concealed-carry reciprocity but didn’t want the background check measure attached.

“It throws millions of dollars at a faulty program and it will result in more law-abiding citizens being deprived of their right to keep and bear arms,” Massie wrote in a Facebook post ahead of the vote.

The gun policy measures were originally two separate bills. But House GOP leaders opted to combine them so that lawmakers only had to cast one vote.


Bill Holter’s Commentary

I am anxiously waiting to see when crypto “beanie babies” are created. Can you imagine the “scarcity” value?

People Are Now Plowing Millions Into ‘CryptoKitties’ And BREEDING THEM
December 6, 2017

It was bound to happen… Cat people have hopped on the digital currency bandwagon and collectively plowed over $6.7 million into ‘CryptoKitties’ – an Ethereum-based virtual cat described as “breedable Beanie Babies,” which have sold for upwards of $114,000. Each. The median price of CryptoKitties is $25.04.


“CryptoKitties players buy and sell unique digital kittens using ethereum. With two kittens, players can then breed their own digital kittens and sell them on the marketplace. The starting price is set by the user, and the price goes down until the end of the auction or the kitten is sold. The CryptoKitties team plans to release a new CryptoKitty every 15 minutes until Nov. 2018, whose starting price is set by the average of the last five CryptoKitties that were sold, plus 50 percent.” –CNBC

There’s a 256-bit ‘genome’ for each kitten, meaning there are 4 billion possible unique variations, according to the company. The reproduction rate for the randy CryptoCats is a distinguishing feature of the scheme, which features a “cooldown” time – or the time it takes a kitty to have a smoke, make a sandwich, and get back to breeding. The cooldown time varies from “fast” one minute breaks, to week-long “catatonic” breaks, and increases each time the kitty breeds.

Created by Vancouver company Axiom Zen, CryptoKitties launched on Thanksgiving in a limited offering to 200 people, and was opened to the public last Tuesday. Over 41,000 digital ‘kittens’ have been sold since then.


Bill Holter’s Commentary

A very interesting position for Goldman Sachs? Needless to say, Goldman will do what is best for Goldman…

Goldman Traders Are Caught Up in a Bizarre, Tense Hedge Fund Battle
December 7, 2017

In a year of missteps across its trading business, Goldman Sachs finds itself in a dicey situation again.

This time, the bank’s credit trading desk is caught in the middle of a raging battle among hedge funds over the debt of big U.S. homebuilder Hovnanian Enterprises Inc. The flap was ignited by Blackstone Group LP’s credit unit, GSO Capital Partners, which is trying to convince the builder to accept a bond refinancing package. GSO’s plan would trigger payments on default insurance that it bought in the credit derivatives market.

Goldman’s problem? It could be on the hook for some of that default insurance after accumulating credit-default swaps and bond trades that add up to a roughly $200 million position, according to people with knowledge of the matter. The Wall Street titans are staring each other down as the tussle heads into a crucial stage, each seeking to influence the builder’s next steps.

It’s the kind of situation that brings into focus Goldman’s penchant for taking risk. The bank has been combating a slump in trading revenue across financial markets that has magnified its mistakes. The firm still derives more of its business from hedge funds than its peers, at times investing alongside those clients.

At times that has paid off in spades — and on occasions left it nursing bigger losses than other banks can stomach.

Representatives for New York-based Goldman Sachs Group Inc., GSO and Hovnanian declined to comment.


Bill Holter’s Commentary

It’s beginning to look like 2018 is going to be a doozy…popcorn sales through the roof!

GOP Lawmakers Cite New Allegations Of Political Bias In FBI
December 6, 2017

GOP lawmakers say they have heard new stories about political bias or interference within the FBI on the eve of new testimony Thursday by FBI Director Christopher Wray.

Rep. Ron DeSantis (R-Fla.) said Wednesday he interviewed a recently retired FBI supervisor who told him he was instructed by Deputy Director Andrew McCabe not to call the 2012 Benghazi attack an act of terrorism when distributing a report on the FBI findings to the larger intelligence community.

The agent found the instruction concerning because his unit had gathered incontrovertible evidence showing a major al Qaeda figure had directed the attack and the information had already been briefed to President Obama, the lawmaker said.

In the days after the 2012 attack, Obama administration officials initially said it was related to spontaneous Muslim anger over an anti-Islam video tape and not a planned-out act of terrorism.

DeSantis argued the example highlights the politicization of the FBI.

“What operational reason would there be to issue an edict to agents telling them, in the face of virtually conclusive evidence to the contrary, not to categorize the Benghazi attack as a result of terrorism? By placing the interests of the Obama administration over the public’s interests, the order is yet another data point highlighting the politicization of the FBI,” DeSantis said.

DeSantis and several other lawmakers say they plan to press Wray at a hearing Thursday before the House Judiciary Committee about growing concerns that certain FBI supervisors allowed political bias to cloud judgments or decisions.


Bill Holter’s Commentary


Tidalgate: Climate Alarmists Caught Faking Sea Level Rise

December 6, 2017

Alarmist scientists have been caught red-handed tampering with raw data in order to exaggerate sea level rise.

The raw (unadjusted) data from three Indian Ocean gauges – Aden, Karachi and Mumbai – showed that local sea level trends in the last 140 years had been very gently rising, neutral or negative (ie sea levels had fallen).

But after the evidence had been adjusted by tidal records gatekeepers at the global databank Permanent Service for Mean Sea Level (PSMSL) it suddenly showed a sharp and dramatic rise.

The whistle was blown by two Australian scientists Dr. Albert Parker and Dr. Clifford Ollier in a paper for Earth Systems and Environment.

The paper – Is the Sea Level Stable at Aden, Yemen? – examines the discrepancies between raw and adjusted sea level data in Aden, Karachi and Mumbai.

Kenneth Richard at No Tricks Zone reports:

The authors expose how PSMSL data-adjusters make it appear that stable sea levels can be rendered to look like they are nonetheless rising at an accelerated pace.


Bill Holter’s Commentary

Not something to have a warm and fuzzy feeling about!

Jerusalem: Arab League to hold emergency meeting
December 6, 2017

The Arab League (AL) is to hold an emergency meeting at the level of foreign ministers on Saturday to discuss the Arab action regarding the possible U.S. recognition of Jerusalem as Israel’s capital city.

MENA news agency reported on Wednesday that the decision is made in response to Palestine’s request that has been supported by Jordan.

“The meeting will discuss the necessary Arab actions towards the possible change of the U.S. position that affects the status of Jerusalem as well as its legal and historical position,” MENA quoted the Palestinian memorandum as saying.

The AL announcement comes while President Donald Trump is expected to make a decision Wednesday over his country’s recognition of Jerusalem as Israel’s capital and the relocation of the U.S. embassy in Israel from Tel Aviv to the disputed holy city.

Over the past few days, the AL and most Arab states have been warning against the “dangerous repercussions” of such a U.S. decision, if made, on peace, security and stability in the Middle East region and the chances for a settlement of the Palestinian-Israeli conflict.

The decades-long Palestinian-Israeli conflict emerged since the Israeli occupation of Palestinian territories and the Western-backed creation of Israel in 1948.


Posted by & filed under In The News.

Bill Holter’s Commentary

…because this is what you do when the truth becomes extreme!

Google To Appoint Staff Of 10,000 To Weed Out Extremist Content On YouTube
December 4, 2017

Google plans to increase to 10,000 the number of its staffers tasked with tracking down extremist content on YouTube.

“We will continue the growth of our teams, with the goal of bringing the total number of people across Google working to address content that might violate our policies to over 10,000 in 2018,” YouTube CEO Susan Wojcicki told Britain’s Daily Telegraph in an interview.

Wojcicki said that “bad actors” had used the video-sharing site to “mislead, manipulate, harass or even harm” others.

The announcement comes after British Prime Minister Theresa May put heavy pressure on social media companies to remove radical content after a series of deadly terror-related attacks this year in the United Kingdom.

“The tech companies have made significant progress on this issue, but we need to go further and faster to reduce the time it takes to reduce terrorist content online,” May said in a speech to the United Nations in October, according to reports.


UK Pensions Risk – Time to Rebalance and Allocate to Cash and Gold
December 6, 2017

UK Pensions Risk – Time to Rebalance and Allocate to Cash and Gold

– Value of Sterling and increased risks place pressure on pensioners both in UK and abroad

– 500,000 British expats face ‘frozen’ pensions

– 61% of UK Direct Benefit pension schemes have more money going out than coming in

– OECD report finds ‘UK workers face the biggest retirement cliff edge in developed world’

– Combined pension deficit of FTSE 350 companies is at 70% of their profits

– One in three wealth managers are holding cash for clients in anticipation of a market crash


The UK’s future pensioners should not rely on their state pension or they may face a huge fall in earnings, says a new report by the OECD.

Should Brits rely solely on their UK state pension then they will face the largest income drop of any OECD country. UK pensions represent on average 29% of in-work earnings, the OECD average is 63%.

The OECD explains:

‘Retirees without such additional sources of revenue [i.e. private pensions] are left with few resources; this is reflected in the poverty rate and high income inequality in the United Kingdom for the over 65s.

‘Following the sharp rise of income disparities during the 1980s in the United Kingdom, inequalities in later life will rise further as generation X approaches retirement.’


Bill Holter’s Commentary

Isn’t this what they were after Gem. Flynn for under the Logan act? At least Mr. Flynn was part of a duly elected transition team for an incoming president. What exactly is Obama’s standing in representing the U.S. here? “Hi, I’m from the U.S. and have some cheap uranium to sell”? By law he cannot speak for me or any other American even if they wish he could…

Obama To Meet With China’s Xi During 3-Country Trip
November 29, 2017

Washington (CNN)Former President Barack Obama embarks Tuesday on an five-day trip to China, India and France, where he will meet with many of his former counterparts, including Chinese President Xi Jinping, Obama’s spokeswoman told CNN.

Obama, who will be in Shanghai to deliver remarks at the Global Alliance of SMEs Summit, will meet with Xi for the first time since September 2016, when both leaders ratified the Paris climate agreement in their respective countries.

President Donald Trump — who visited China on an official visit earlier this month — announced in June his decision to withdraw the United States from the Paris accord.

The current administration has heralded the relationship between Xi and Trump, with the President claiming to Fox Business Network’s Lou Dobbs in October that he and Xi have “the best relationship of any President-President.”

“As President, Obama forged a close and cooperative partnership with President Xi on issues ranging from growing the global economy to combating climate change, and he looks forward to catching up with his former counterpart,” Obama spokeswoman Katie Hill said.

In New Delhi, Obama will participate in an Obama Foundation Town Hall with 280 young leaders from around India and speak at HT Media Leadership Summit.


Bill Holter’s Commentary

I don’t get it. At first they told us it was “private” and that was the allure, then it turns out to be completely transparent and every single coin (don’t you just love that phrase) can be traced back to its origin…If this is the case, what’s the problem? Track the movement and find the hacker? Oh wait, they also told us it was unhackable didn’t they? So what’s the real story?

Largest Crypto-Mining Exchange Confirms It Was Hacked, Over $50 Million In Bitcoin Stolen
December 6, 2017

As Bitcoin explodes higher on what now appears to be constant demand out of South Korea, there were unconfirmed (at least until recently) reports that Nice Hash, the largest crypto-mining marketplace, has been hacked with over 4,000 bitcoins worth over $50 million stolen.

Visits to the website over the past 13 hours were greeted with the following maintenance notice.


A Visual Top-Down Approach To The Stock Market Part II – Garrett Jones
December 5, 2017


Bill Holter’s Commentary

…merely correcting past fake news, nothing to see here folks.

Bloomberg Corrects Bombshell Trump Bank Records Story
December 6, 2017

Bloomberg News corrected Wednesday its bombshell report that special counsel Robert Mueller had subpoenaed Deutsche Bank records pertaining to President Donald Trump and his family.

The corrected report said the bank records “pertain to people affiliated” with Trump. Bloomberg had originally reported that Mueller “zeroed in” on Trump.

“Mueller issued a subpoena to Germany’s largest lender several weeks ago, forcing the bank to submit documents on its relationship with Trump and his family, according to a person briefed on the matter, who asked not to be identified because the action has not been announced,” Bloomberg reported Tuesday.

Trump’s attorney John Dowd denied the original Bloomberg article. “We have confirmed that the news reports that the Special Counsel had subpoenaed financial records relating to the president are false. No subpoena has been issued or received. We have confirmed this with the bank and other sources,” Dowd wrote in a statment.

Bloomberg’s correction follows a similar one from The Wall Street Journal.

“An earlier subheadline said a subpoena from special counsel Robert Mueller’s office requested data and documents about President Trump’s accounts. The subpoena concerns people or entities close to Mr. Trump,” the Journal article said.


Posted by & filed under In The News.

Bill Holter’s Commentary

No need to make anything anymore …except dollars for export!

Trade deficit soars as U.S. imports record amount of goods from China, Mexico, Europe
December 5, 2017

The numbers: The U.S. trade deficit in October jumped 8.6% to a ninth-month high of $48.7 billion from $44.9 billion. Economists polled by MarketWatch had forecast a $47.6 billion gap.

Imports climbed 1.6% to a record $244.6 billion. Exports were unchanged at $195.9 billion, the Commerce Department said Tuesday.

What happened: OPEC was a big winner. Nearly half of the increase in the U.S. trade deficit was tied to larger imports of petroleum at higher prices. The average cost of a barrel of oil rose to a more than two-year high of $47.26.

The story was not just all oil. Non-petroleum imports set a new peak. The amount of goods imported from China, Mexico and the European Union all hit record highs.

The insatiable demand of Americans for consumer staples such as cell phones and HDTVs spurred imports in the runup to the holiday shopping season.

U.S. exports, for their part, were held back by a big drop in shipments of large passenger planes and soybeans. Both typically exhibit sharp swings in late summer and early fall.

The big picture: The sharp increase in the trade deficit might be the only thing to prevent the U.S. economy from topping 3% for the third quarter in a row. If it doesn’t recede in the next two months, fourth-quarter GDP could take a hit.

Yet a larger deficit doesn’t tell the whole story. Americans are importing more goods because the U.S. economy is the healthiest it’s been in more than a decade. They can afford to spend more.

U.S. exports have also surged owing to the strongest global economy in perhaps just as long. Other countries are also doing better



Bill Holter’s Commentary

Being the skeptics we are and speaking of bogus charities, the question must be asked  “how much of Clinton foundation money reached its charitable intentions…”?

Ex-Rep. Corrine Brown Sentenced To 5 Years For Stealing From Bogus Charity
December 4, 2017

Former Rep. Corrine Brown has been sentenced to five years in prison for pocketing hundreds of thousands of dollars from donors who believed their money was going to charity. A federal judge on Monday sentenced the Florida Democrat, who was voted out of office last year, on 18 crimes ranging from conspiracy to fraud.

“It is a sad day for everyone. It is a sad day for this community,” Judge Timothy Corrigan said in court, according to The Associated Press. “I was impressed with all the outpouring of support for you and it’s a tribute to you and the work you’ve done … and that makes it more tragic and sad.”

The prison sentence marks the coup de grâce for Brown’s political career, which at one time was lauded for its historic, trailblazing achievement. When she won election to the House in 1992, Brown became one of the first three African-American lawmakers from Florida to be elected to Congress since Reconstruction.

Brown, 71, went on to serve 12 terms in the House until she lost last year’s election under the cloud of her indictment.



Posted by & filed under In The News.

Russia, China, India Unveil New Gold Trading Network
December 2, 2017

Submitted by Ronan Manly,

One of the most notable events in Russia’s precious metals market calendar is the annual “Russian Bullion Market” conference. Formerly known as the Russian Bullion Awards, this conference, now in its 10th year, took place this year on Friday 24 November in Moscow. Among the speakers lined up, the most notable inclusion was probably Sergey Shvetsov, First Deputy Chairman of Russia’s central bank, the Bank of Russia.

In his speech, Shvetsov provided an update on an important development involving the Russian central bank in the worldwide gold market, and gave further insight into the continued importance of physical gold to the long term economic and strategic interests of the Russian Federation.

Firstly, in his speech Shvetsov confirmed that the BRICS group of countries are now in discussions to establish their own gold trading system. As a reminder, the 5 BRICS countries comprise the Russian Federation, China, India, South Africa and Brazil.

Four of these nations are among the world’s major gold producers, namely, China, Russia, South Africa and Brazil. Furthermore, two of these nations are the world’s two largest importers and consumers of physical gold, namely, China and Russia. So what these economies have in common is that they all major players in the global physical gold market.

Shvetsov envisages the new gold trading system evolving via bilateral connections between the BRICS member countries, and as a first step Shvetsov reaffirmed that the Bank of Russia has now signed a Memorandum of Understanding with China (see below) on developing a joint trading system for gold, and that the first implementation steps in this project will begin in 2018.

Interestingly, the Bank of Russia first deputy chairman also discounted the traditional dominance of London and Switzerland in the gold market, saying that London and the Swiss trading operations are becoming less relevant in today’s world. He also alluded to new gold pricing benchmarks arising out of this BRICS gold trading cooperation.

BRICS cooperation in the gold market, especially between Russia and China, is not exactly a surprise, because it was first announced in April 2016 by Shvetsov himself when he was on a visit to China.


Jim Sinclair’s Commentary

Borders, what are they for?

After Steinle Verdict, Rep Unveils Bill To Imprison Officials Who Shelter Illegal Immigrants
December 3, 2017

EXCLUSIVE – A Republican congressman plans to introduce a bill Monday that would threaten huge fines and prison time for elected officials accused of sheltering illegal immigrant criminals from deportation, in the wake of the not-guilty verdict in the Kate Steinle murder trial.

Indiana Rep. Todd Rokita’s bill is one of the most aggressive pieces of legislation to date aimed at sanctuary city policies, going beyond the Justice Department’s threat to cut off grants to those jurisdictions.

“Politicians don’t get to pick and choose what laws to comply with,” Rokita told Fox News. “Americans are dying because politicians sworn to uphold the law refuse to do so.”

His “Stopping Lawless Actions of Politicians (SLAP) Act” would hold state and local lawmakers criminally responsible for refusing to comply with federal immigration enforcement efforts. The Republican’s bill would subject violators to a $1 million fine and up to five years in prison if they are convicted.

“It’s time the federal government gets serious about enforcing immigration laws and holding politicians accountable who conspire to break them,” said Rokita.

Rokita also supported “Kate’s Law” – legislation that would boost penalties for illegal immigrants who were previously deported and that was named after Steinle.

On Thursday, Jose Ines Garcia Zarate, an illegal immigrant who already had been deported back to Mexico five times, was acquitted in the 2015 murder of Steinle on a San Francisco pier.

Zarate’s attorneys argued Zarate had found a gun that accidentally discharged, and the bullet ricocheted off the ground before hitting Steinle. Prosecutors argued Zarate intentionally shot 32-year-old Steinle.

The killing revived a national debate over sanctuary city policies, as some lawmakers as well as Steinle’s family faulted San Francisco for releasing the suspect from a local jail without notifying federal immigration officials.


Bill Holter’s Commentary

A very important writing from Steve St. Angelo. I spoke to David Morgan this afternoon regarding his Kitco interview and he said they did not give him enough time to talk about investment demand. I know David very well and believe him to be a straight shooter, he said “Bill, I am in no way bearish on silver, they only gave me time to tell half of the story”. Jeff Christian on the other hand has only told the truth once as far as I know …when he told the CFTC that “physical” markets are levered 100-1 with paper!

The Disinformation War: The Attempt To Disregard Silver Investor Demand In The Market
December 4, 2017

There is a Disinformation War taking place in the silver market as certain industry analysis is confusing individuals by purposely disregarding the tremendous impact of rising investment demand. Not only do I find this troubling, but I am also quite surprised how much the silver industry pays attention to this faulty analysis. So, it’s time once again to set the record straight.

Setting the record straight has now become a new mission for me at the SRSrocco Report because the amount of disinformation and faulty analysis being published in the mainstream and alternative media is quite disturbing. I decided it was time to say enough was enough, so I started by destroying the myth about the 1 million tons of gold hidden in the Grand Canyon in my recent article, THE BLIND CONSPIRACY: The Gold Market Is Heading Towards A Big Fundamental Change.

If you haven’t read that article and are still confused on whether or not there are billions of ounces of gold hidden in the Grand Canyon, I highly recommend that you do. Now, if you read the article and still believe the U.S. Government decided to make the Grand Canyon a national park to protect all that gold, then you have my sympathies. However, the reason certain individuals in the U.S. Government decided to make the Grand Canyon a national park because it was probably a GOOD IDEA to keep a beautiful part of the country off-limits from those who had no problem with destroying the banks of the Colorado by trying to extract gold at a pathetically low uneconomical yield.

If you have seen some of the episodes of the Discovery Channel’s Gold Rush show, the result of gold dredging operations isn’t pretty. Here is a picture of the beautiful landscape outside of Dawson City in the Yukon that shows the effects of placer mining and gold dredging. Now, how many families in the U.S. and abroad would have taken their kids on vacation to the Grand Canyon if it looked like this? I am quite amazed at the lack of dignity and respect by individuals who only seek at the almighty Dollar.


Poll Shocker! Nancy Pelosi FURIOUS Over This News…
December 4, 2017

Since losing the 2016 election to republicans, house minority leader nancy pelosi has fought viciously to maintain her longtime hold on the democratic party.

That may not last much longer.

A new poll, released by abc news/washington post over the weekend, as confirmed to democrats what millions of americans already know… and it has likely left pelosi furious.

The democratic party isn’t really interested in america’s future, say the majority of voters. Democrats are exclusively about being anti-trump.

It’s a stunningly bad sign for a party that has struggled to win elections in recent years — and it’s not even close.

Only 37 percent of americans reportedly believe democrats have any principles.

In contrast, a staggering 52 percent of voters say the democrats don’t actually stand for anything.

After losing over 1,000-seats to republicans in her tenure as party leader, the truth — that americans still don’t like the democrats — is a sharp blow to pelosi’s ability to hold onto power.

Another election disaster in 2018 would finally cost pelosi her position as house minority leader… something that president donald trump has said would be a shame.

After all, who could do a better job turning american voters against democrats?


Posted by & filed under In The News.

Listen: How Ex-Trump Allies Started Facing Legal Problems And Today’s Latest News
December 1, 2017

As special counsel Robert Mueller’s Russia investigation marches on, consultants and lobbyists are studying how former allies of President Trump ended up in legal jeopardy, in part through their business activities with international clients.

During Friday’s AM View hosted by Alexis Simendinger, The Hill’s Megan Wilson explains how others who represent foreign agents are being extra cautious.