Posts Categorized: Jim’s Mailbox

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Jim/Bill,

As with cars, a look under the hood always lets you find the problem.

Unfortunately today’s kids don’t even know what a hood is!

They most likely believe it’s an area of a city, like a “neighborhood”.

Not 10 minutes after the ‘rosey” release, the truth emerges.

CIGA Wolfgang Rech

‘Goldilocks’ Jobs Print Sparks Dollar Dump, Bond & Stock Buying
July 6, 2018

Update: Maybe not so Goldilocks after all…

 

 

 

 

 

 

 

 

 

Amid the low liquidity of a holiday week, US equity futures continue to kneejerk up and down (up in this case) after a so-called ‘Goldilocks’ jobs print that was just bad enough to leave The Fed on its slow path to normalization. Bond yields and the dollar are also sliding…

Quite wild ride for Dow futures in the last 12 hours…

More…

 

Jim/Bill,

A closer look and certain assumptions can reasonably be made.

I’m sure much as to do with advance preparations for the upcoming tariffs.

Such as soybeans:

“Overall exports increased 1.9 percent to $215.3 billion as soybean shipments overseas almost doubled to $4.1 billion.”

Could be other countries are also preparing for the worst by doing their “Christmas shopping” early.

I think that following comment is more “tongue in cheek” as we all know trade sanctions haven’t really begun yet.  And those “of particular persuasion” is more of a reference to manipulators and political ideologists.

“Confirming the advance trade balance, it could be argued – by those of a particular persuasion – that Trump’s trade policies are working”

Take it all with a grain of salt.  The worst is yet to come.

Nobody today turns the other cheek when slapped in the face.

Brace yourself.

CIGA Wolfgang Rech

US Trade Deficit Plunges Most In 10 Years – Is Trump Winning?
July 6, 2017

Confirming the advance trade balance, it could be argued – by those of a particular persuasion – that Trump’s trade policies are working as the US trade deficit has collapsed to its lowest since September 2016.

The US trade balance for May printed a smaller deficit than expected at $43.1 bn (vs $43.6bn exp) and well down from the revised $46.1bn in April.

 

 

 

 

 

 

 

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Courtesy of Dave.

Jim

‘Confiscation Is Coming’ As Iranian Cops Crackdown On “Gold Hoarder” Who Collected 250,000 Coins
June 6, 2018

As the collapse of the Iranian rial has led to soaring inflation, leading to protests and civil unrest,  authorities are beginning to crack down on “gold hoarders” as Iranians scramble to preserve their wealth by swapping rials for gold, which has the added effect of exacerbating the already troubled currency’s decline.

 

 

 

 

 

 

 

 

In a move that will send a message to others who’ve buying up large quantities of gold, Iranian police have arrested a man they accused of hoarding two tonnes of gold coins with the intention of manipulating the local market. Tehran Police Chief Gen Hossein Rahimi said the unnamed 58-year-old had collected an estimated 250,000 coins over the past 10 months, working in concert with several accomplices. Police dubbed him “Sultan of Coins.”

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China To Breathe New Life In Venezuelan Oil Company Despite Ire Of US
July 5, 2018

China is lending its helping hand to Venezuela to stabilize the country’s oil sector, analysts told Sputnik, adding that Beijing’s economic activities in Latin America are apparently getting on Washington’s nerves.

China is about to breathe new life into Venezuela’s collapsing oil sector regardless of Washington’s displeasure: On July 4, 2018, Bloomberg reported that the China Development Bank is going to invest more than $250 million in the country’s crude production.

Liu Qian, analyst at the China Institute of Strategic Energy Studies, hailed Beijing’s move, stressing that Venezuela has long been one of China’s largest oil suppliers: “China’s direct investment of $250 million in Venezuelan national oil company [Petróleos de Venezuela, S.A.] will positively affect the stabilization of oil production in Venezuela and ensure delivery of crude oil to China,” he told Sputnik China.

However, according to Liu, Venezuelan economic difficulties could hardly be resolved by a one-time financial injection: “China does not exclude the provision of loans or other types of assistance to stabilize and boost oil production [in Venezuela] within the framework of a ‘loan-for-oil’ model of energy cooperation,” he highlighted.

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Courtesy of Dave.

Jim

Book Review – Losing Military Supremacy By Andrei Martyanov
July 5, 2018

[This article was written for the Unz Review]

The fact that the USA is facing a profound crisis, possibly the worst one in its history, is accepted by most observers, except maybe the most delusional ones. Most Americans definitely know that. In fact, if there is one thing upon which both those who supported Trump and those who hate him with a passion can agree on, it would be that his election is a clear proof of a profound crisis (I would argue that the election of Obama before also had, as one of its main causes, the very same systemic crisis). When speaking of this crisis, most people will mention the deindustrialization, the drop in real income, the lack of well-paid jobs, healthcare, crime, immigration, pollution, education, and a myriad of other contributing factors. But of all the aspects of the “American dream”, the single most resilient one has been the myth of the US military as “the finest fighting force in history”. In this new book, Andrei Martianov not only comprehensively debunks this myth, he explains step by step how this myth was created and why it is collapsing now. This is no small feat, especially in a relatively short book (225 pages) which is very well written and accessible to everyone, not just military specialists.

Martyanov takes a systematic and step-by-step approach: first, he defines military power, then he explains where the myth of US military superiority came from and how the US rewriting of the history of WWII resulted in a complete misunderstanding, especially at the top political levels, of the nature of modern warfare. He then discusses the role ideology and the Cold War played in further exacerbating the detachment of US leaders from reality. Finally, he demonstrates how a combination of delusional narcissism and outright corruption resulted in a US military capable of wasting truly phenomenal sums of money on “defense” while at the same time resulting in an actual force unable to win a war against anything but a weak and defenseless enemy.

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Courtesy of CIGA Bob.

Jim

“For those of you that Trust the Unseen because of all you have already seen.”

– Jim Sinclair

Astrologically the Earth is rising in potential to a  profound crescendo coming in at 2 a.m. PDT 6 July 2018, Friday, when Sun conjoins 14.25 degrees of Cancer where star Sirius currently is.  At this time there is the last quarter Moon and there is a well the water trine of Sun, Jupiter and Neptune, plus Sun-Saturn are in parallel declination.  Something decisive brewing!   O yes.     -r, mt. shasta,

The Battle Is Not Upon The Physical Plane

Posted by & filed under Jim's Mailbox.

From our friend Dan Kurz.
Bill
DK Analytics, Post #41: Trump, The “Real US Worker Deal” And Hooverism, Revisited?
July 4, 2018
The good:

“Red state” Americans, yours truly included, are grateful that President Trump is calling out the fake news for what it is: fake — and out to get any powerbrokers that threaten its pervasive media dominance. Clearly, a media with a revolving-door to bureaucrats has facilitated unprecedented industry consolidation since President Clinton signed the Telecommunications Act of 1996. The increasingly incestuous, oligopolistic relationship between big government and big business has resulted in a crony press that rivals the Pravda (“truth”) press in the former USSR. Thus, instead of news and a check on increasingly abusive government power as the Framers intended, the misnamed “Main Stream Media” (MSM) has been generating propaganda supportive of an increasingly fascist regime, i.e., the US government.

Billionaire real estate and successful entertainment tycoon Donald Trump refused to become part of today’s MSM quid pro quo. He didn’t have to, nor did he want to. Instead, he took his “America First” (including bringing jobs back home) message to “flyover country” via the Internet/his Twitter account and as supplemented by his frequent, rousing, and well-attended speeches. Critically, he was also backed by the one largely anti-leftist entity in the MSM, ratings dominating Fox News, which has long resonated with “red state” Americans. Thus, the battle lines were drawn. An all-out MSM backlash against this nonconformist ensued, and “news” morphed even more completely into statist, anti-Trump propaganda, a.k,a., fake news. It wasn’t only fabricated stories, one-sided allegations or quotes taken out of context, but utter and complete suppression by the vast majority of the MSM of lawless behavior by those positioned at the top echelons of federal power during the prior administration as well as unconstitutional behavior being carried forward into the current administration and into the 115th US Congress.

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Look what’s hiding in plain sight. This one is going to be a dilly as tonight’s song about their 4th of July in 2021. Courtesy of GG.

Jim

The Eurozone’s Coming Debt Crisis
July 1, 2018

The European Central Bank (ECB) has signaled the end of its asset purchase program and even a possible rate hike before 2019. After more than 2 trillion euros of asset purchases and a zero interest rate policy, it is long overdue.

The massive quantitative easing (QE) program has generated very significant imbalances and the risks far outweigh the questionable benefits. The balance sheet of the ECB is now more than 40 percent of the eurozone GDP.

The governments of the eurozone, however, have not prepared themselves at all for the end of stimuli. They often claim that deficits have been reduced and risks contained. However, closer scrutiny shows that the bulk of deficit reductions came from lower cost of government debt. Eurozone government spending has barely fallen, despite lower unemployment and rising tax revenues. Structural deficits remain stubborn, and in some cases, unchanged from 2013 levels. In other words, the problems are still there, they were just hidden for a while, swept under the rug of an ever-expanding global economy.

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Courtesy of Dave.

Jim

Giuliani Vows That Trump Will Help Bring Down the Iranian Regime
July 1, 2018

The Trump Administration is now signalling to its allies and Iranian dissidents that its new policy—to choke Tehran economically and publicly support local protesters—can topple the revolutionary government in Iran. “We are now very realistic in being able to see an end of the regime in Iran,” Rudy Giuliani, Trump’s personal attorney, said at the annual gathering of the National Council of Resistance of Iran, the controversial exile group, in Paris on Saturday. In December, sporadic protests erupted in Iran in response to unemployment and the strict dress code for women. During his speech, Giuliani compared Trump’s support for the protests to President Reagan’s support for the opponents of Communist rule in Eastern Europe in the nineteen-eighties.

“Just a few months ago, the President of the United States—about whom there’s a lot of controversy, about whether he should tweet or not—took out his little phone and he tweeted, and he supported the protesters, like Ronald Reagan did for the protesters in Poland when Solidarity marched against Communism,” Giuliani said. “And what happened there? Communism fell. Poland is free. The Iron Curtain evaporated. And the Berlin Wall was chopped down. That will happen now.” The collapse of the Islamic Republic of Iran, he said, “is around the corner.”

Giuliani represents the President in the probe into Russian meddling in the 2016 election and its possible ties to the Trump campaign. The former mayor of New York City does not speak for Trump on foreign policy. But his remarks—especially comparing U.S. policy on Iran to U.S. policy on the Soviet Union thirty years ago—were later echoed by Newt Gingrich, who was also at the event. Gingrich is one of Trump’s closest political allies, and his wife, Callista Gingrich, is the President’s Ambassador to the Vatican. “The Soviet Union looked unbelievably powerful, and then one day it disappeared,” Gingrich said. “The fact is that the Khamenei regime is much weaker than the Soviet Union ever was . . . . Freedom will come.”

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Courtesy of JB.

Jim

Logical thinking.

Why was the case against AWAN filed under BANK FRAUD?

The result today is re: BANK FRAUD.

See last.

Connect.

The SWAMP is being DRAINED.

Q

Think logically.

Thing IG report.

Think what’s missing.

Do you think this was going to be litigated in this setting?

Case that implicates some of the most senior elected officials (treason) is being handled by the appropriate office.

Think NATIONAL SECURITY.

Q

 

What is new? This is no big hamburger. What does it matter now?

Jim

The Congressional Hearings on this should be spectacular.

JB

IG Report Says Bill Clinton Told Bare-Faced Lie To Nation About Tarmac Meeting
July 2, 2018

Bill Clinton told a bare-faced lie to the whole nation when he said his tarmac meeting with then-Attorney General Loretta Lynch was an innocent affair during which they spoke about their grandchildren, according to Department of Justice inspector general Michael Horowitz’s report on the FBI’s Hillary Clinton email investigation.

The stunning revelation is buried on page 203 of the inspector general’s report and suggests the controversial June 2016 tarmac meeting between then-Attorney General Loretta Lynch and former President Bill Clinton was not spontaneous and innocent, but actually “coordinated” and illegal.

The inspector general’s revelation blows a hole in the narrative Lynch and Bill Clinton have carefully maintained for two years. Lynch claimed the “social” meeting was spontaneous and the two discussed grandchildren, however according to the report, she was deeply uncomfortable with the meeting and understood the serious consequences if the public ever found out.

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Courtesy of GG.

Jim

Is Anyone Surprised Obama May Have Granted Citizenship To 2,500 Iranians? He Spent 8 Years Selling Out The American People
July 3, 2018

In a speech delivered several days before Obama’s historic victory, he said, “We are five days away from fundamentally transforming the United States of America.” This chilling assertion, uttered nearly ten years ago, sent a shiver down the spine of every conservative. And, as we look back over his presidency, we realize that those were the most truthful words he has ever spoken to the American people.

During an interview with an Iranian newspaper, Hojjat al-Islam Mojtaba Zolnour, chairman of Iran’s parliamentary nuclear committee, alleged that the Obama administration granted US Citizenship to 2,500 Iranian officials and family members as part of the flawed Iran Nuclear Deal. Zolnour, who is said to be part of Ayatollah Ali Khamenei’s inner circle, claimed:

When Obama, during the negotiations about the JCPOA, decided to do a favor for these men, he granted citizenship to 2,500 Iranians and some officials started a competition over whose children could be part of these 2,500 Iranians.

If today these Iranians get deported from America, it will become clear who is complicit and sells the national interest like he is selling candies to America. It should be stated exactly which children of which authorities live in the United States and have received citizenship or residency.”

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Happy Fourth of July, my dear Patriots, in 2021.

JB

 

 

 

 

 

 

 

 

Posted by & filed under Jim's Mailbox.

It’s those damned Elves.

JB

 

 

 

 

 

 

 

Any Hillary supporter who “truly” believes what Hillary says to be truthful and correct, yet are still “Not Supporting” the government, or the electoral process, in which her husband was elected by, who’s voice represented our nation for 2 terms, is EXACTLY what Hillary described here as dangerous…”Anyone Not Willing To Accept The Results Of An Election, Is A Danger To Democracy”…This is what the majority sees. We do not need a TV show host to tell us either…You are the “Dangerous” Hillary described and you don’t see it.

JB

 

 

 

 

 

 

 

 

 

Courtesy of JB.

Jim

 

Keep an eye on the CDS for Deutsche. Deutsche’s bankruptcy can only be kept under raps for so long and when the rescue operation becomes public, the confidence in the banking sector will take a serious hit!

GG

Debt For US Corporations Tops $6 Trillion
June 27, 2018

The debt load for U.S. corporations has reached a record $6.3 trillion, according to S&P Global.

The good news is U.S. companies also have a record $2.1 trillion in cash to service that debt.

The bad news is most of that cash is in the hands of a few giant companies.

And the riskiest borrowers are more leveraged than they were even during the financial crisis, according to S&P’s analysis, which looked at 2017 year-end balance sheets for non-financial corporations.

On first glance, total debt has risen roughly $2.7 trillion over the past five years, with cash as a percentage of debt hovering around 33 percent for U.S. companies, flat compared to 2016. But removing the top 25 cash holders from the equation paints a grimmer picture.

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Regardless of what one thinks of Trump, this is a freer more open society than ever before…

JB

Judicial Watch Sues DOJ for Records About Raid on Michael Cohen’s Office, Home and Hotel Room
July 02, 2018

(Washington, DC) – Judicial Watch announced today that it filed a Freedom of Information Act (FOIA) lawsuit against the U.S. Department of Justice for all records related to the April 9 raid on the office, home and hotel room of Michael Cohen, then-personal attorney to President Donald Trump (Judicial Watch v. U.S. Department of Justice (No. 1:18-cv-01466)). The suit was filed in the U.S. District Court for the District of Columbia after the Justice Department failed to respond to three separate FOIA requests.

On April 12, 2018, Judicial Watch sought the following from the Office of the Attorney General:

Any and all records of correspondence and communications between the Office of Deputy Attorney General Rod Rosenstein and the Office of Special Counsel Robert Mueller concerning, regarding, or relating to the April 9, 2018 raids on the office and hotel room of Michael Cohen.”

Also on April 12, 2018, Judicial Watch sent its second FOIA request seeking the following from the Executive Offices for United States Attorneys:

The Search and Seizure Warrant executed by the Federal Bureau of Investigation at the office and hotel room of Michael Cohen on April 9, 2018.

The application for the above-referenced warrant and any affidavits submitted in support of the application

All records about the recusal of U.S. Attorney Geoffrey Berman from the Michael Cohen investigation.

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What’s a 4th of July celebration without the patriots in Judicial Watch?

JB

Tom Fitton: FBI and DOJ Want to Protect the Mueller Investigation
July 2, 2018

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Posted by & filed under Jim's Mailbox.

Jim/Bill,

The more you read the article, the bleaker the analysis.

A “mulligan?”

(For those not into gold, a mulligan, most simply put, is a “do-over” in golf. Hit a bad shot? Take a mulligan and replay that stroke.)

There’s technically two ways to “fail” the stress test — quantitatively and qualitatively. But no one has failed on a quantitative basis since 2013 because the Fed allows banks to take a “mulligan.”

“The stress tests showed Goldman Sachs and Morgan Stanley potentially at risk, and as a reminder, Wells Fargo is under Federal Reserve restrictions and all eyes are on whether Deutsche Bank is allowed to do anything.

Specifcally analysts have grown more skeptical that GS/MS can increase their payouts — or in Goldman’s case, that it can even maintain last year’s level. Why give up the safety of reserves? You’ve accumulated them as a safety net and now you disburse them to stockholders.”

You accumulate reserves for protection and then disburse them to stockholders after the test?

I don’t get it.

“The results overall were weaker than last year, although Fed officials noted that the regime had become stricter this year.”

“As a reminder, all 35 banks passed the stress test last week as The Fed confirmed they would all be fine if stocks crashed 65% and VIX spiked to 60.”

From what I’ve heard, no mention has been made of the enormous volume of derivatives held on the books.

We’ll see how this all works out in the next crash. The FED’s feet should be held to the fire if another bailout is needed.

CIGA Wolfgang Rech

Fed Test Fails Deutsche Bank, Forces JPMorgan, Goldman, Four Others to Limit Payouts
June 28, 2018

Tougher Federal Reserve stress tests forced six U.S. banks to scale back proposals for doling out more cash to shareholders, while failing Deutsche Bank’s US unit on “qualitative” grounds:

The Fed failed the U.S. subsidiary of Deutsche Bank AG, citing “widespread and critical deficiencies” in its planning, limiting the unit’s ability to send capital home to Germany.

Goldman Sachs Group Inc. and Morgan Stanley — agreed to freeze payouts at previous years’ levels. Both banks were required to rein in their dividend and stock buyback plans after the Fed warned their initial, more bullish, proposals would have left them with inadequate capital buffers.

JPMorgan Chase, American Express, KeyCorp and M&T Bank Corporation also rethought their original plans for payouts to shareholders, although they got the thumbs up after submitting more modest plans in the past week, the Fed said.

Twenty-eight other firms can proceed with their original proposals to boost stock buybacks and dividends after the Fed found they’d still hold enough capital to weather a hypothetical economic shock.

As the FT notes, given the disappointing results on Thursday for some banks, the industry’s overall payout ratio — capital distributed as a proportion of earnings — was expected to remain roughly unchanged from last year at about 95 per cent.

Even with the more conservative capital plans, Goldman and Morgan Stanley fell below some required capital thresholds. Yet the Fed gave the less punchy payouts the go-ahead anyway. Officials said weakness in the stress test partly reflected the accounting impact of landmark tax reforms that Mr Trump signed into law last year. Randal Quarles, the Fed’s regulatory chief, said they had created “one-time challenges”.

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Meanwhile, media viewers are seeing their favorite pedophiles getting arrested or implicated as they parade these insane anti-Americans on the television. Trump is cleaning house of these freaks and their colluding agents inside government…it’s all coming down folks. Best be prepared to be surprised because Kevin Spacey, Bill Cosby, Woody Allen, Harvey Weinstein, et al. are simply the tip of the iceberg…WWG1WGA.

JB

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Regardless of who or what Q is, what follows is an interesting conversation. Courtesy of JB.

Jim
Jun 28 2018 23:59:18 (EST)
It must happen.
Conspiracy no more.
Think of every post made.
It would force us to prove everything stated to avoid looking crazy, correct?
What do they fear the most?
Public awakening.
If they ask.
They self destruct.
They know this is real.
See attacks.
The build is near complete.
Growing exponentially.
You are the frame.
You are the support.
People will be lost.
People will be terrified.
People will reject.
People will need to be guided.
Do not be afraid.
We will succeed.
Timing is everything.
Think Huber.
Think DOJ/FBI reorg.
Think sex/child arrests / news.
Think resignations (loss of control).
How do you remove evil in power unless you reveal the ultimate truth?
It must be compelling to avoid a divide (political attack/optics).
We are the majority (growing).
WW.
Sheep no more.
TOGETHER.
Q

 

This is the bail out of all bank loans for the reset, a financial hurricane warning right in your face, if you have eyes to see, and have read real of monetary history.

This is akin to what was done in the Weimar experience to guarantee the banks would not lose value because of the collapse of currency. Their already granted mortgages were denominated in grams of gold, back dated to the date of the loan initiation. As such, the banks were protected from the demise of the currency in stated gold vs. currency value when the currency expired.

The banks never suffer in a Reset; therefore someone knows something that is unknown to the majority.

This, when passed now, or in the future is a huge event to protect the banks from the Reset. Precisely like the Weimar experience. The wording will be changed into define the dollar loans, made by banks in grams of gold on the day of the grant, which is before the RESET and / or looking back in time. Again like Weimar.

Courtesy of Crazy Horse.

Jim

This will not take place as written but as rewritten to pass.

H.R.5404 – To define the dollar as a fixed weight of gold.115th Congress (2017-2018) | Get alerts

BILL

Sponsor: Rep. Mooney, Alexander X. [R-WV-2] (Introduced 03/22/2018)
Committees: House – Financial Services
Latest Action: House – 03/22/2018 Referred to the House Committee on Financial Services.  (All Actions)

Tracker:

This bill has the status Introduced

Here are the steps for Status of Legislation:

Introduced

Passed House

Passed Senate

To President

Became Law

Available here

 

Courtesy of Dave.

Jim

Gold: The Chinese Connection – David Brady (27/06/2018)
June 27, 2018

Unless you have been under a rock for the past few months, you know there is an escalating trade war going on between the U.S. and China. The U.S. is imposing tariffs on Chinese products, and China is responding in kind. But the Chinese have more retaliatory options available to them than just tariffs, and it seems they are already using them.

Since its low at 6.2470 on March 27, the USD/CNY exchange rate has risen 6% to 6.6150. Put a different way, that’s a 6% “devaluation” of the yuan.

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Posted by & filed under Jim's Mailbox.

Courtesy of Dave.

Jim

Bank Stocks Are On Their Longest Losing Streak Ever
June 26, 2018

Bank stocks just hit a record — a record of losses.

The S&P 500 Financials Index fell for the 12th straight day Tuesday, the longest losing streak on record. Coming into the year, many cited the tax overhaul and a rising rate environment as reasons for banks to rally. Instead, they’ve endured pressure from a flattening yield curve. The losses also come ahead of the final phase of the Federal Reserve’s annual stress tests and waning consumer confidence.

“They’re facing a rising rate environment, which historically has been fairly positive for banks,” Mona Mahajan, U.S. investment strategist at Allianz Global Investors, said on Bloomberg Television. “What we’re seeing here is the shrinking yield curve is actually not a good sign for the banks. Obviously, they like to borrow short, lend long, and if that yield curve is shrinking, that margin goes down as well.”

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Courtesy of Dave.

Jim

Gold Exports To London From U.S. Surge 152% In 2018
June 26, 2018

by Steve St. Angelo of SRSrocco

As U.S. gold exports to Hong Kong and China fell 25% in the first four months of the year, London picked up the slack. According to the USGS, U.S. gold exports to London more than doubled from January to April, compared to the same period last year (see chart).

Interestingly, the amount of gold exported to London during this period nearly equaled the total U.S. domestic gold mine supply.

From the data reported in the USGS Gold Mineral Industry Survey’s, U.S. gold exports to the U.K. (London) jumped to 64.3 metric tons (mt) Jan-Apr, versus 25.5 mt during the first four months last year:

Here is the breakdown of U.S. gold exports to London for each month:

Jan = 12.2 mt

Feb = 12.1 mt

Mar = 21.2 mt

Apr = 18.8 mt

Total 64.3 mt

As I have mentioned, a lot of London’s gold is exported to China and Switzerland.

And then, the majority of Switzerland’s gold is exported to Hong Kong and China. For example, according to the statistics on GoldChartsrus, in March, the U.K. exported 16 mt of gold to China and 32 mt of gold to Switzerland. In the very same month, Switzerland exported 80 mt of gold to Hong Kong and China.

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Courtesy of Dave.

Jim

As Military Drops A Bomb Every 12 Mins, Supreme Court Upholds Ban on Refugees Created By US
June 26, 2018

As statistics show that the United States Military drops a bomb every 12 minutes, the Supreme Court has ruled in favor of a ban on refugees from the countries that are being destroyed by the U.S.

The decision was announced on Tuesday after the Supreme Court ruled, 5-4, that a ban on travel from Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen, does not discriminate against Muslims, and is within President Trump’s authority to enact.

“The entry suspension is an act that is well within executive authority and could have been taken by any other president—the only question is evaluating the actions of this particular president in promulgating an otherwise valid proclamation,” Chief Justice Roberts wrote in the court’s opinion.

The White House released a statement calling the ruling a “moment of profound vindication following months of hysterical commentary from the media and Democratic politicians who refuse to do what it takes to secure our border and our country.”

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Courtesy of Dave.

Jim

Morgan Stanley Adds Former S.E.C. Chairwoman to Its Board
June 26, 2018

By Emily Flitter

A former chairwoman of the Securities and Exchange Commission was named on Tuesday to the board of Morgan Stanley, the latest in a series of moves the bank has made to bolster its brokerage business.

The new board member, Mary L. Schapiro, led the commission from 2009 to 2012 after her appointment by President Barack Obama. She will join the Morgan Stanley board effective Sunday.

Morgan Stanley’s chief executive, James P. Gorman, has said he sees in his sprawling network of financial advisers a steadier source of growth than the more uncertain businesses of trading and investment banking. Wealth management accounts for almost half the bank’s total revenue.

Ms. Schapiro has held several top regulatory posts relevant to the brokerage business. In the 1990s, she was the chairwoman of the Commodity Futures Trading Commission under President Bill Clinton. She also spent three years as chairwoman and chief executive of the Financial Industry Regulatory Authority, an industry self-regulatory watchdog that oversees financial brokers.

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Courtesy of JB.

Jim

Deutsche Bank’s US Unit Fails Fed Stress Test
June 28, 2018

Available via Financial Times Subscription