Posts Categorized: Jim’s Mailbox

Posted by & filed under Jim's Mailbox.

…of course they did JB!!!!?

Bill

Ex-Deutsche Bank Traders Avoid Prison Time For Libor Scheme
October 24, 2019

NEW YORK (Reuters) – Two former Deutsche Bank AG <DBKGn.DE> traders will serve no prison time for conspiring to manipulate the Libor benchmark interest rate between 2005 and 2011, a federal judge ruled on Thursday, sharply criticizing U.S. prosecutors for treating the two men as “proxy wrongdoers” for a much larger scheme.

Matthew Connolly, who once led Deutsche Bank’s pool trading desk in New York, was sentenced by U.S. District Judge Colleen McMahon in Manhattan to six months’ home confinement, while Gavin Campbell Black, who worked on the bank’s London desk, was sentenced to nine months’ home confinement, which he will be allowed to serve in England.

McMahon also ordered Connolly to pay a $100,000 fine, and Black to pay a $300,000 fine.

The sentence is a setback for U.S. prosecutors in one of the few criminal cases to emerge from a sweeping probe of Libor rigging. The prosecutors had asked the judge to order “substantial” prison time for both men, saying federal guidelines called for close to 10 years, along with a $3 million fine for Connolly and a $2 million (£1.56 million) fine for Black.

McMahon, however, said the prosecutors were trying to hold Connolly and Black responsible for behaviour throughout the financial industry.

More…

Posted by & filed under Jim's Mailbox.

Shhhh! Nobody cares until they all of a sudden, everyone cares.

JB

…and care they will JB!

Bill

Fed Injects $134BN In Liquidity, Term Repo Oversubscribed Amid Month-End Liquidity Panic
October 24, 2019

With stocks threatening to close in the red, late on Wednesday the Fed sparked a furious last hour rally…

 

 

 

 

 

 

 

 

 

 

 

… when in a a statement published at 1515ET, precisely when the S&P ramp started, the New York Fed confirmed it would dramatically increase both its overnight and term liquidity provisions beginning tomorrow through November 14th.

The Desk has released an update to the schedule of repurchase agreement (repo) operations for the current monthly period. Consistent with the most recent FOMC directive, to ensure that the supply of reserves remains ample even during periods of sharp increases in non-reserve liabilities, and to mitigate the risk of money market pressures that could adversely affect policy implementation…

More…

Posted by & filed under Jim's Mailbox.

Jim/Bill,

As I said a couple of weeks ago, this was a disaster waiting to happen. Wall Street keeps fleecing the sheeple.

Dave

WeWork’s Unraveling Is Another Indictment of Wall Street’s Universal Bank Model
October 22, 2019

WeWork is just one more in a long series of Wall Street scandals that prove that the universal banking model is little more than a thinly-disguised wealth transfer system from the pockets of average Americans to the 1 percent.

Just two months ago WeWork’s two lead Wall Street underwriters, JPMorgan Chase and Goldman Sachs, were planning to offer WeWork’s shares to the public investor at a valuation in excess of $47 billion. Now we are learning that the company may run out of money next month and has an actual valuation of $8 billion or less.

WeWork’s founder, Adam Neumann, who was attempting to cash out of his company that had never made a dime of profits in its nine years of existence and had run up losses of $900 million in just the first six months of this year, will walk away as a billionaire according to a report in the Wall Street Journal this morning. According to the Journal, the Japanese SoftBank is planning to take over the mess and plow in more billions in a private buyout. SoftBank already has $10.5 billion invested in WeWork so it is effectively doubling down on a bad trade – something that even rookie stockbrokers know better than to do.

More…

 

Jim/Bill,

John Whitehead makes some good points.

Dave

The Pathocracy Of The Deep State: Tyranny At The Hands Of A Psychopathic Government
October 23, 2019

. . .

There is no difference between psychopaths and politicians.

Nor is there much of a difference between the havoc wreaked on innocent lives by uncaring, unfeeling, selfish, irresponsible, parasitic criminals and elected officials who lie to their constituents, trade political favors for campaign contributions, turn a blind eye to the wishes of the electorate, cheat taxpayers out of hard-earned dollars, favor the corporate elite, entrench the military industrial complex, and spare little thought for the impact their thoughtless actions and hastily passed legislation might have on defenseless citizens.

Psychopaths and politicians both have a tendency to be selfish, callous, remorseless users of others, irresponsible, pathological liars, glib, con artists, lacking in remorse and shallow.

Charismatic politicians, like criminal psychopaths, exhibit a failure to accept responsibility for their actions, have a high sense of self-worth, are chronically unstable, have socially deviant lifestyles, need constant stimulation, have parasitic lifestyles and possess unrealistic goals.

It doesn’t matter whether you’re talking about Democrats or Republicans.

Political psychopaths are all largely cut from the same pathological cloth, brimming with seemingly easy charm and boasting calculating minds. Such leaders eventually create pathocracies: totalitarian societies bent on power, control, and destruction of both freedom in general and those who exercise their freedoms.

More…

Posted by & filed under Jim's Mailbox.

Bill/Jim,

An article worth reading carefully and reflecting upon it.

As the essence of what the western world will be in the future lies in strategies and actions yet to be taken by western culture.

CIGA Robert

‘You Can Never Be China’s Friend’: Spengler
October 20, 2019

He was a phantom among journalists, using the mysterious nom de plume, “Spengler.” Like his German philosopher namesake, the cultural critic returned again and again to his despairing theories of the decline of the West.

The work of “Spengler” drew from a deep and rich intellectual pool. And since the herald has revealed his true identity, we learn why. David P Goldman – philosopher, economist, mathematician and musicologist – is a Renaissance man. A former investment banker for the Bank of America and Credit Suisse, the American is known for his widely read column for Forbes magazine and Asia Times.

Dutch writer Leon de Winter crowns Goldman’s work as “among the most interesting in the world.”

We meet at the noble Princeton Club in Midtown Manhattan where Goldman is a member. He is intensively involved with China. Informed by close experience in the country and with its people, Goldman counsels caution toward the aggressive Asian empire. But before training a critical eye on the East, the keen observer sharply examines his own culture and the president for whom he voted in 2016.

More…

Posted by & filed under Jim's Mailbox.

Jim/Bill,

As I said on Saturday’s call, this is not Hong Kong, so the MSM will not cover it.

Dave

Barcelona Mayhem: Clashes With Police As ‘Half A Million’ Pro-Independence Supporters Rally Amid General Strike (PHOTO, VIDEO)
October 18, 2019

A huge crowd with Catalan flags has paralyzed central Barcelona as people from all across the region protested the harsh prison sentences for pro-independence leaders by the Spanish court and called for parting ways with Madrid.

The police estimated that at least 525,000 turned up in the center of Barcelona, local media cited law enforcement. “Independence,”“The streets will be ours” and “Freedom to political prisoners” were among the chants heard at the massive gathering.

 

 

 

 

 

 

 

 

 

 

 

The rally continued more or less peacefully for a few hours, but was eventually marred by more serious violence as some of the protesters started building barricades and setting garbage containers on fire.

More…

Posted by & filed under Jim's Mailbox.

Jim/Bill,

That secret Russian plot to re-elect Trump is still working..

The plot’s title is “Let Them Speak” (thank you Charles) … Maybe they should put a flag up or something else to make it look like they really are on the side of Americans only…

JB

Imagine that JB?

Bill

Nolte: Democrats Are Losing Millions And Millions Of Debate Viewers On CNN
October 17, 2019

CNN’s Tuesday night Democrat debate drew only 8.3 million viewers, a huge drop from the 14 million who watched the previous debate on ABC and Univision.

Tuesday’s debate was the fourth this year among those Democrats angling to win their party’s presidential nomination, and the ratings were the lowest of the year, even when you add the 449,000 live streams.

Back in July, far-left CNN hosted the second debate of the year, a two-night event that drew 8.7 million and 10.7 million viewers, for an average of 9.7 million. This was also a massive drop-off from the previous debate.

More…

Jim/Bill,

My bud Jay tried to get in to the Dallas Trump rally.  Reports of 5,000-10,000 outside trying to get in are absolutely true.

CIGA Jay

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Posted by & filed under Jim's Mailbox.

Bill/Jim,

So I go to CNN’s website and type in Veritas Video, and…guess what I found? NOTHING (about yesterday’s bombshell)! This is the news not reporting the news that they themselves are a part of…Trust Nothing – as Dismal Dave would say…methinks he’s mostly right.

JB

https://www.cnn.com/search?q=veritas+video

Posted by & filed under Jim's Mailbox.

Jim/Bill,

I Love Judicial Watch!

JB

Trump Rids Major U.S. Container Port of Chinese Communist Control
October 8, 2019

Under a long-term deal sealed by the Obama administration, a Chinese Communist company was set to control the second-busiest container port in the United States. In an unreported Trump administration victory, the Communists are out after a drawn-out national security review forced a unit of China-based COSCO Shipping Holdings Co. (Orient Overseas Container Line—OOCL) to sell the cherished container terminal business, which handles among the largest freight of imports into the U.S.

It all started with a 40-year container terminal lease between the Port of Long Beach in southern California and Hong Kong. The Obama administration proudly signed the agreement in 2012 giving China control of America’s second-largest container port behind the nearby Port of Los Angeles. One of the Trump administration’s first big moves was to get the Communists out of the Port of Long Beach. After a national security review and federal intervention, the Long Beach terminal business, which handles millions of containers annually, is finally being sold to an Australian company called Macquarie Infrastructure Partners. That essentially kills China’s decades-long contract with the Obama administration.

The deal never should have been signed in the first place considering the facility’s size, significance and the national security issues associated with a hostile foreign government controlling it. The southern California port is the premier U.S. gateway for trans-Pacific trade, according to its website, and handles trade valued at more than $194 billion annually. It is one of the few ports that can accommodate the world’s largest vessels and serves 140 shipping lines with connections to 217 seaports around the world. The facility encompasses 3,200 acres with 31 miles of waterfront, 10 piers, 62 berths and 68 post-Panamax gantry cranes. In 2018, the Long Beach port handled more than 8 million container units, achieving the busiest year in its history.

More…