Posts Categorized: Jim’s Mailbox

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Dear Wolfgang,

When in doubt, and you are a function of the IMPACTS government ECONOMIC AFFAIRS just have the rules changed by FASB.

Jim

Jim/Bill,

Damned if you do,

Damned if you don’t.

“……as a result of the spike in yields in the last summer, this massive portfolio suffered substantial paper losses”

Raise rates and you kill economic growth, and take massive hits on the value of your portfolio.

Lower rates and you fuel the speculative bubbles, and increase corp. borrowings as well as adding to your portfolio which you are trying to downsize.

And this makes you wonder even more!

“Under GAAP, an institution is required to report trading securities and those available for sale at fair or market value, rather than at face value. The Fed reports its balance-sheet holdings at face value.”

CIGA Wolfgang Rech

Fed Net Worth Turns Negative Following Record $66BN In Paper Losses
December 12, 2018
While the Fed has been engaging in quantitative tightening for over a year now in an attempt to shrink its asset holdings, it still has over $4.1 trillion in bonds on its balance sheet, and as a result of the spike in yields in the last summer, this massive portfolio suffered substantial paper losses which according to the Fed’s latest quarterly financial report, hit a record $66.453 billion in the third quarter, raising questions about its strategy at a politically charged moment for the central bank, whose “independence” has been put increasingly into question as a result of relentless badgering by Donald Trump.

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Jim,

We need to keep an eye on events…things are getting hotter!

Dave

Emergency Briefing Of The Head Of Donetsk People’s Republic Militia Basurin On The Situation On 10.12.2018
December 11, 2018

I would like to make the following statement. Our intelligence obtained irrefutable evidence about the Armed Forces of Ukraine AFU preparation to attack us at the direction of Mariupol. The information obtained from reliable sources fully reveals the plans of the Ukrainian security forces.

The purpose of this planned attack is to seize the territory of Novoazovsky and Telmanovsky districts and establish control over the section of the border between the DPR and Russia in the area of villages Konkovo and Kholodnoye.

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Jim,

The Saker has pointed out that the Ukrainian army is about to stage an attack.  The purpose of this planned attack is to seize the territory of Novoazovsky and Telmanovsky.  It would appear Russia is set to respond.

Dave

New Satellite Imagery Shows Hundreds Of Russian Battle Tanks Amassing On Ukraine Border

December 11, 2018

Ukraine’s president has recently warned Russian tanks are amassing along the border between the two countries amid increasing tensions. The comments came late last month after three Ukrainian naval boats were seized in the Kerch Strait by Russia.

President Petro Poroshenko has allegedly shown images of what he claims to be hundreds of tanks preparing for an invasion.

He told Sky News:

“This is the tank base just 18km from our border, this was happening in September, October, and now.”

“This is 18km from my border, this is the same warehouse where they have their ammunition, the same where they have multi-rocket launch systems, we should be prepared to protect my country.”

Satellite imagery from Google Earth taken sometime in November from the Defense Blog has verified Poroshenko claims. Photos show hundreds of Russian main battle tanks at a new military installation in the Kamensk-Shakhtinsky region.

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Jim,

Withdrawing from some of these may make sense, but, “No Man” is an Island, comes to mind.

Dave

Trump Turns International Organizations into ‘Neo-Confetti’
December 9, 2018

Trump and his neo-cons have withdrawn from so many international organizations and agreements that his foreign policy has earned a shameful nickname: “the Withdrawal Doctrine.”

Donald Trump, currently under the strong influence of arch neo-conservative John Bolton, his national security adviser, and Secretary of State Mike Pompeo, a neo-con in “libertarian clothing,” has embarked on a policy to not only distance the United States from international organizations, but to withdrawal from them altogether. The only international organization Trump currently supports is NATO and that is only because Bolton, Pompeo, and other neo-cons advising Trump are proponents of unilateral warfare by the United States, with NATO forces as cannon fodder, wherever neo-con doctrine determines America’s interests are threatened.

Trump’s recent announcement that he is nominating Heather Nauert, a former Fox News “talking head”-turned-State Department spokesperson for Pompeo, as the next US ambassador to the United Nations is another indication that Trump would, if possible, withdraw the US from the international organization.

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Jim,

We have warned listeners.

Dave

Kiev Regime – A Western Frankenstein Creation
December 7, 2018

Russian President Vladimir Putin put it succinctly when he recently warned that prospects for peace in Ukraine were negligible as long as the current authorities in Kiev remain in power. Worse, given a new rash of provocations by the Kiev regime, the entire region is being threatened with conflict, and even all-out war.

It seems clear – and criminally reprehensible – that the Kiev regime and its President Petro Poroshenko are intent on dragging the United States and the NATO military alliance into a war with Russia. The incendiary conduct of Ukrainian politicians and their military is that of a regime out of control, with no regard for maintaining international peace. But this Frankenstein creation is entirely the responsibility of the American and European governments which have enabled and condoned its reckless behavior.

Russia’s Foreign Ministry spokeswoman Maria Zakharova got it right when she said that Russia is the party which is preventing Europe from sliding towards war by stoically containing the Kiev regime’s provocative conduct. Yet the regime turns reality on its head by claiming that it is “defending Europe” from “Russian aggression”.

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…This is socialism failing.

JB

 

A very good snapshot of the debt bubble from Alonso Aguilar.  The global financial dilemma laid out visually for you!

Bill

PDF

 

Courtesy of JB.

Jim

Posted by & filed under Jim's Mailbox.

Courtesy of JB.

Jim

Federal Judge Opens Discovery Into Clinton Email Usage
December 06, 2018

Court Excoriates Obama State Department/Justice Department for Possibly Acting in “Bad Faith” and Colluding “to Scuttle Public Scrutiny” of Clinton Private Email Server

Court Criticizes Current Justice Department for “Chicanery”

District Court Judge Lamberth Orders “Proposed Plan and Schedule for Discovery Within Ten Days”

Discovery Must Also Explore Whether Clinton Intentionally Used Private Email Server to “skirt FOIA”

(Washington, DC) – Judicial Watch announced today that, in a ruling excoriating both the U.S. Departments of State and Justice, U.S. District Court Judge Royce C. Lamberth has ordered both agencies to join Judicial Watch in submitting a proposed schedule for discovery into whether Hillary Clinton sought to evade the Freedom of Information Act (FOIA) by using a private email system and whether the State Department acted in “bad faith” by failing to disclose knowledge of the email system. The decision comes in a FOIA lawsuit related to the Benghazi terrorist attack.

Specially, Lamberth ruled:

… the Court ORDERS the parties to meet and confer to plan discovery into (a) whether Hillary Clinton’s use of a private email while Secretary of State was an intentional attempt to evade FOIA; (b) whether the State Department’s attempts to settle this case in late 2014 and early 2015 amounted to bad faith; and (c) whether State has adequately searched for records responsive to Judicial Watch’s requests.

Terming Clinton’s use of her private email system, “one of the gravest modern offenses to government transparency,” Lamberth wrote in his MEMORANDUM OPINION:

… his [President Barack Obama’s] State and Justice Departments fell far short. So far short that the court questions, even now, whether they are acting in good faith. Did Hillary Clinton use her private email as Secretary of State to thwart this lofty goal [Obama announced standard for transparency]? Was the State Department’s attempt to settle this FOIA case in 2014 an effort to avoid searching – and disclosing the existence of – Clinton’s missing emails? And has State ever adequately searched for records in this case?

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Jim/Bill,

Looks like they’ve increased the cops from 12,000 to 89,000!

CIGA Wolfgang Rech

France Deploys 89,000 Cops Amid Fears Of Yellow Vest Coup Attempt On Saturday

“Saturday will be the final outcome. Saturday is the Elysee”

Dec 6, 2018 2:16 PM

Jim/Bill,

Coup?

Can this be “French Revolution-The Sequel?”

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‘French intelligence services have reported to the Elysee Palace – the official residence of President Macron, in light of “calls to kill” and “carry arms to attack” government officials, parliamentarians and police, according to Le Figaro. “They are putschists. We are in a coup attempt,” said Le Figaro’s sources.’

This is serious stuff.

CIGA Wolfgang Rech

France Deploys 89,000 Cops Amid Fears Of Yellow Vest Rebellion On Saturday
December 6, 2018

French authorities will deploy at least 8,000 riot police and gendarmes in Paris on Saturday, and 89,000 forces across the country according to the Prime Minister, as the Elysee prepares for “act four” of the Yellow Vest movement’s violent protests against the Macron government.

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In addition to the closure of the Eiffel Tower on Saturday, several Paris museums have announced that they won’t be open this weekend.

“The demonstrations announced Saturday, December 8 in Paris cannot guarantee the safety of visitors, the Sete has made the decision to close the Eiffel Tower,” announced the Societe de la Tour Eiffel which operates the monument.

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Despite Macron’s government delaying a planned fuel hike by six months, the Yellow Vest movement has called on its followers to “stay on our course,” over Facebook and gather for “The Act IV”  on Saturday the 8th, in what will be the fourth week of protests.

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Jim/Bill,

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With China considering the U.S. action against Huawei’s CFO and act of war,

and Paris about to be engulfed in flames and chaos tomorrow,

one has to be a fool not to take down some gold today……..just in case.

CIGA Wolfgang Rech

Viral Video Of French Students Lined Up Execution-Style Sparks Outrage; Protesters Want Macron’s “Scalp”
December 7, 2018

A viral video of French police detaining protesting high school students “execution style” has sparked outrage, just one day ahead of planned protests across the country which were already anticipated to be particularly violent.

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The footage shows the moment dozens of students protesting education reform in Mantes-la-Jolie in north-central France were arrested on Thursday – most of whom were teens from local high schools.

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Jim,

Follow the money.

Dave

New Explosive Facts About Clinton Charity To Shake Off Lethargy Soon – Analyst
December 6, 2018

The major question concerning the Clinton Foundation is not that it has apparently become the largest unprosecuted fraud ever, but rather why it is taking so long to expose, prosecute and convict those responsible? Wall Street analyst Charles Ortel sat down to answer this and other questions with Sputnik.

The Clinton Foundation’s allegedly fraudulent activities are likely to come under the spotlight on December 5, 2018, when United States Attorney John Huber, appointed by former Attorney General Jeff Sessions, is due to testify about his probe into the organisation. Meanwhile, it was reported that two whistle-blowers had signalled their willingness to shed light on the charity’s alleged wrongdoings.

Sputnik reached out to Wall Street analyst Charles Ortel, who has been conducting a private investigation into the Clintons’ charity for three years, asking him to comment on the developments.

Sputnik: On November 15th, you told Sputnik that the judgement day for the Clinton Foundation is nearing, as the Clintons are unlikely to provide a comprehensive and undistorted report about their charity’s financial and organisational activities.

Did they manage to release a truthful report on IRS Form 990 by the close of business on November 15, 2018 concerning its operations and financial results for 2017?

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Jim,

Is he too big to prosecute?

Dave

Jeffrey Epstein Settles Out of Court in Civil Trial to Avoid Release of New Info
December 4, 2018

Jeffrey Epstein has agreed to a financial settlement and issued an apology to Bradley Edwards, the attorney representing several of Epstein’s victims.

West Palm Beach, Florida – Jeffrey Epstein has apologized for filing a malicious lawsuit against attorney Bradley Edwards. The apology and a confidential financial settlement officially bring an end to the lawsuit which was peripheral to the larger fight to hold Jeffrey Epstein accountable for the dozens of young girls he molested. Edwards has been representing three female victims of Epstein for nearly a decade.

The settlement relates to an ongoing legal battle between Epstein and Edwards. In 2008, Edwards successfully sued Epstein on behalf of women who claimed he abused them. All of the women were teenagers at the time. Epstein would later counter sue claiming that Edwards was bringing Epstein to court as part of some type of ponzi scheme. The suit would eventually be dropped, but Edwards returned the gesture by suing Epstein for defamation of character.

The following statement was released by Epstein via his lawyers:

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The finality.

JB

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CIGA Tom with a great catch!

Bill

 

Courtesy of Dave.

Jim

MUST READ: Hey, Mr. Trump! Tear Down That Deep State Wall…..Of Secrecy
December 3, 2018

When the Donald promised to “drain the swamp” during the 2016 election campaign—- it did sound vaguely like an attack on Big Government, and at least a directional desire to shrink the state and let free market capitalism breathe.

After 22 months in office, however, the truth is patently obvious: The only Swamp that Donald Trump wants to drain is one filled with his political enemies and policy adversaries at any given moment in time. Even then, you have to consult his tweetstorm ledger to know exactly who the swamp creatures de jure actually are.

Still, the Donald’s daily Twitter assaults on the Deep State are a wondrous thing. They surely do undermine public confidence in rogue institutions like the FBI, CIA and NSA, which profoundly threaten America’s constitutional liberties and fiscal solvency.

Likewise, his frequently unhinged tweets also lather their congressional sponsors and beltway poo-bahs with well-deserved mud and opprobrium. And the Donald’s increasingly acrimonious public feuding with Deep State criminals like James Comey and John Brennan is just what the doctor ordered.

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Jim/Bill,

Two articles from ZeroHedge.com.  One from this morning and one from this afternoon.

Scary stuff.

Seems like the public wants heads to roll!

All too often in the past, whenever I mentioned a return to the “Marie Antoinette” mentality, I always got chuckles.

Well Golly!

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Shazam!

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It looks like it’s coming uncomfortably close.

You can’t beseech people to vote for you and then turn around and screw them.  At some point it all eventually comes to an end.

CIGA Wolfgang Rech

Macron Blinks: France Suspends Fuel Tax Hike After “Yellow Vest” Riots

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The “President of the Rich” has finally caved and decided to reverse his controversial ‘fuel tax’ as his capitol city lies in ruins.

Dec 4, 2018 7:25 AM

French ‘Yellow Vests’ Reject Macron’s Six-Month Tax Delay As Student Protests Intensify

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“Suspending the tax to re-instate it in six months is taking the French people for a ride.”

Dec 4, 2018 2:50 PM

 

Jim,

We’ll need to keep a close eye on this.

Dave

Encouraged by US, Ukraine Prepares to Stage Military Provocation
December 4, 2018

There is a cause for concern and it’s real and very grave. Ukraine is being pushed to war. Kiev is not bluffing. Encouraged by its American tutors, it’s involved in dangerous games pursuing political purposes. It’s not about sanctions, warnings, statements and declarations – they want to provoke real shooting now. The time is right for ringing alarm bells before it’s too late.

The US President Donald Trump’s refusal to have a separate meeting with President Putin at the G20 summit in Argentina citing the Kerch Strait incident as a reason was not exactly unexpected. Obviously, Washington is interested in aggravating the Russian-Ukrainian relations. The introduction of the state of emergency in the territories bordering Russia, the concentration of Ukrainian troops in the Donbas region, and the call-up of reservists announced by Ukraine’s president – all these moves testify to the fact that war preparations are in full swing. Neither Washington nor Brussels have called on Kiev to show restraint.

Ukraine has recently announced its decision not to allow Russian men aged 16-60 into the country. This policy of Kiev is in stark contrast with what Moscow does. According to Russian Deputy Foreign Minister Grigory Karasin, Russian President Vladimir Putin decided not to retaliate. No, quite the opposite – he ordered to simplify the procedures for Ukrainians asking for Russian citizenship. The move is intended to demonstrate good intentions. In late October, the Russian president signed the Concept of the State Migration Policy of the Russian Federation for 2019-2025 to facilitate the inflow of Russian speakers to the country.

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Jim/Bill,

A few points to consider:

1) Interest rates falling (less competition for gold).

2) Yield curve inverting (potential destabilizing risk growing in financial circles).

3) Massive accumulation of physical gold by the world’s central banks, as a safe haven.

4) Everyone on one side of the boat (short gold).

“Gold is still a hated asset and positioning of the crowds is all but bullish.”

5) Finally, the Dollar on its last legs?

“If the aggregate USD long is to be washed out or not remains to be seen….Depending on your view on the USD, gold and oil could offer interesting trades.”

Everything in place for a potentially explosive move in gold.

CIGA Wolfgang Rech

USD Smoked
December 4, 2018

By AskBrokers.com

For more market intell visit our site here.

The G20 meeting was a success for both the US and China. The rhetoric has been hard, but don’t forget, these two superpowers both want to avoid a full-blown trade war, if possible. They are also both interested in having a weaker USD.

A strong USD spills over to the Yuan as it is rather tied to the USD. A stronger USD is subsequently a problem. The US doesn’t want a “too weak” Yuan as this “takes away” the effects of the tariffs. A breakdown in talks between Trump and Xi was a possibility, but both had interest in avoiding further stress and market turbulence. Contrary to what many believed (and yes we warned for the possible USD sell off on November 29th), the USD has sold off and affected various assets.

The Yuan has put in a huge move over past two days.

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MAGA!

JB

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I love Judicial Watch…

JB

Judicial Watch Sues For Records Of FBI Meetings With Clinton-DNC Law Firm, Perkins Coie In 2016
December 03, 2018

Clinton-DNC Used Law Firm to Pay for Anti-Trump Dossier

(Washington, DC) — Judicial Watch announced today that it filed a Freedom of Information Act (FOIA) lawsuit against the Department of Justice seeking records of all meetings in 2016 between former FBI General Counsel James Baker and the Perkins Coie law firm. The Clinton campaign and the Democratic National Committee (DNC) reportedly paid Fusion GPS to create the “salacious and unverified” Clinton-DNC anti-Trump dossier.

The lawsuit cites a specific media report that FBI top lawyer Baker met with Perkins Coie lawyers to discuss allegations of collusion between Donald Trump and Russia. The meeting reportedly took place weeks before the 2016 election and before the FBI secured a controversial FISA spy warrant targeting then-candidate Trump’s campaign.

Judicial Watch filed the lawsuit in the U.S. District Court for the District of Columbia after the DOJ failed to respond to an October 9, 2018, FOIA request (Judicial Watch v. U.S. Department of Justice (No. 1:18-cv-02617)) seeking:

All records concerning any and all meetings between former FBI general counsel James Baker and one or more attorneys from Perkins Coie, the Democratic National Committee’s private law firm during 2016.

On October 4, 2018, Fox News reported that Baker told congressional investigators that Perkins Coie lawyer Michael Sussmann “initiated contact with him and provided documents and computer storage devices on Russian hacking.” The contact was made in late 2016 as federal investigators prepared a Foreign Intelligence Surveillance Act (FISA) warrant to spy on Trump campaign aide Carter Page.

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This practice is common on major USA roads across the nation. Courtesy of JB.

Jim

Judicial Watch Joins Allied Educational Foundation in Supreme Court Civil Asset Forfeiture Amicus Brief
November 30, 2018

‘Freedom from unlawful conversion of property is an inherent individual liberty right which the Constitution must secure for all citizens’

(Washington, DC) — Judicial Watch announced today that it joined with Allied Educational Foundation (AEF) in filing an amicus curiae brief in the United States Supreme Court supporting petitioner Tyson Timbs against the State of Indiana, which Judicial Watch contends abused its power in a civil asset forfeiture case (Tyson Timbs, et. al. v. State of Indiana (No. 17-1091)) The case was heard by the Supreme Court this week.

In May of 2013, Tyson Timbs was arrested and pled guilty to a charge of drug dealing and conspiracy. He received a six-year sentence (with five years suspended) and a $1,200 fine.

Earlier in the year, Timbs had received a $70,000 life-insurance payment after his father passed away. He used $42,000 of it to purchase a Land Rover car. Timbs used the Land Rover to deliver $225 worth of drugs, the report said. The state seized the car under a state policy which allows private lawyers to sue for a forfeiture in order to receive a cut.

The car was worth four times the amount of the maximum possible fine ($10,000) in the Timbs case. Lower courts in Indiana ruled the penalty was grossly disproportional under the Eighth Amendment. The Indiana State Supreme Court reversed the lower courts’ ruling.

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Black Swans a’swimming.

Dave

U.S. Aircraft Carrier Heads To Persian Gulf In “Show Of Force” After Iran Ballistic Missile Test
December 3, 2018

Days after Iran unveiled its first stealth destroyer in a televised ceremony on Saturday which saw the warship launched into operation in the Persian Gulf, and after the US condemned Iran’s test firing a medium-range nuclear capable ballistic missile on Sunday, Pentagon officials have announced the U.S. is sending an aircraft carrier strike group to the Persian Gulf in a show of force against Iran.

US officials told the Wall Street Journal the USS John C. Stennis and support ships will arrive in the Middle East “within days” — which will bring a close what’s been described as the longest period in two decades that a carrier group was absent from the region. Specifically the unnamed officials identified the purpose as to “exhibit a show of force against Iran” at a moment tensions are soaring after Nov. 4 renewed sanctions targeting Iran’s energy sector. The White House has vowed that it will work with international allies to reduce Iran’s oil exports to zero in continuing economic warfare that could easily spark direct military confrontation.

The WSJ reports:

The Stennis is scheduled to remain in the region for about two months, the officials said, spending most of that time in the Persian Gulf. Its presence “certainly provides a deterrence” against any potentially hostile Iranian activity in the region’s waters, one of the officials said.

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