Posts Categorized: Jim’s Mailbox

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Courtesy of JB.

Jim

Judicial Watch Files Bar Complaint Against Christine Blasey Ford’s Lawyers
October 19, 2018

(Washington, DC) – Judicial Watch announced today that it filed a complaint to the Board of Professional Responsibility of the District of Columbia Court of Appeals of Debra S. Katz, Lisa J. Banks, and Michael R. Bromwich for violating the rules of professional responsibility in their representation of Dr. Christine Blasey Ford before the U.S. Senate Judiciary Committee during the hearings on the nomination of the Honorable Brett Kavanaugh.

According to the Judicial Watch complaint, by not informing their client Dr. Ford that Sen. Chuck Grassley, Chairman of the Senate Judiciary Committee offered in a letter to “fly female staff investigators to meet Dr. Ford… in California, or anywhere else, to obtain (her) testimony,” Katz, Banks, and Bromwich violated the following District of Columbia Rules of Professional Conduct:

Rule l.4(a) – A lawyer shall keep a client reasonably informed about the status of a matter and promptly comply with reasonable requests for information.

Rule 1.4(b) – A lawyer shall explain a matter to the extent reasonably necessary to permit the client to make informed decisions regarding the representation.

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Too funny! Courtesy of JB.

Bill

 

 

 

 

 

 

 

 

Jim/Bill,

And another one joins the club.

CIGA Wolfgang Rech

Gold Reserves Surge 1,000% In Hungary As It Joins Poland, Russia, China and Other Central Banks Buying Gold
October 19, 2018

News, Commentary, Charts and Special Podcast on Direct Access Gold

Here is our Friday digest of the important news, commentary, charts and videos we were informed by this week including our special podcast on Direct Access Gold.

From our perspective, the most important developments were the IMF’s financial warnings and the escalation in central bank gold buying with Hungary increasing its gold reserves by a whopping 1,000% due to increasing “safety concerns.”

For the first time since 1986, Hungary’s central bank is buying gold bullion – a lot of gold bullion.

The Eastern-European country announced that it had boosted its gold reserves ten-fold, up to 31.5 tons. It not only dramatically increased its reserves but also repatriated the gold from the Bank of England to Budapest due to concerns about “financial stability”.

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Dated info on IMF.

JB

‘Winter Is Coming,’ IMF Told At Bali Summit
October 15, 2018

Indonesian President Joko “Jokowi” Widodo warned that “winter is coming”, borrowing an expression from the Emmy-winning television series Game of Thrones made by HBO from an adaptation of a series of novels written by George RR Martin.

He made this reference in front of a packed hall at the plenary session of the International Monetary Fund (IMF) and World Bank Annual Meetings in Nusa Dua, Bali, over the weekend.

“With all the problems that the global economy currently faces, it is appropriate to say that ‘winter is coming’,” Jokowi said.

He said weak coordination and cooperation, particularly on the part of developed countries, had resulted in additional uncertainty in the global economy, citing the drastic increase in the global oil price and turmoil in the financial markets of emerging markets as recent examples.

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Courtesy of JbB.

Jim

State Department Provided ‘Clearly False’ Statements To Derail Requests For Clinton Docs, ‘Shocked’ Federal Judge Says
October 17, 2018

In a combative exchange at a hearing Friday in Washington, D.C., a federal judge unabashedly accused career State Department officials of lying and signing “clearly false” affidavits to derail a series of lawsuits seeking information about former Secretary of State Hillary Clinton’s private email server and her handling of the 2012 terrorist attack on the U.S. Consulate in Benghazi, Libya.

U.S. District Court Judge Royce Lamberth also said he was “shocked” and “dumbfounded” when he learned that FBI had granted immunity to former Clinton chief of staff Cheryl Mills during its investigation into the use of Clinton’s server, according to a court transcript of his remarks.

“I had myself found that Cheryl Mills had committed perjury and lied under oath in a published opinion I had issued in a Judicial Watch case where I found her unworthy of belief, and I was quite shocked to find out she had been given immunity in — by the Justice Department in the Hillary Clinton email case,” Lamberth said during the hearing.

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Courtesy of Dave.

Jim

Jamal Khashoggi: Where The Road to Damascus & The Path to 9/11 Converge
October 17, 2018

By Kristen Breitweiser, one of the four 9/11 widows – known as the “Jersey Girls” – instrumental in forcing the government to form the 9/11 Commission to investigate the 2001 attacks. Follow Kristen Breitweiser on Twitter: www.twitter.com/kdbreitweiser.

Road to Damascus Conversion: Derived from the Biblical story of Paul, the term “Damascus road conversion” is commonly used to refer to an abrupt about-face on a serious issue of religion, politics or philosophy. In this type of change, a single, dramatic event causes a person to become aligned with something he or she previously was against or support a position that he or she previously opposed. https://www.wisegeek.com/what-is-a-damascus-road-conversion.htm#didyouknowout

As a 9/11 widow who has spent the last 17 years fighting for accountability with regard to the 9/11 attacks that killed my husband and 3,000 others, I find the recent uproar over Jamal Khashoggi’s disappearance and alleged murder interesting and out of character for many of those decrying his disappearance and demanding an investigation and accountability.

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Courtesy of Dave.

Jim

Skripal and Khashoggi: A Tale of Two Disappearances
October 17, 2018

Two disappearances, and two very different responses from Western governments, which illustrates their rank hypocrisy.

When former Russian spy Sergei Skripal went missing in England earlier this year, there was almost immediate punitive action by the British government and its NATO allies against Moscow. By contrast, Western governments are straining with restraint towards Saudi Arabia over the more shocking and provable case of murdered journalist Jamal Khashoggi.

The outcry by Western governments and media over the Skripal affair was deafening and resulted in Britain, the US and some 28 other countries expelling dozens of Russian diplomats on the back of unsubstantiated British allegations that the Kremlin tried to assassinate an exiled spy with a deadly nerve agent. The Trump administration has further tightened sanctions citing the Skripal incident.

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From our friend Dave Kranzler.

Bill

Netflix’s Giant Ponzi Scheme
October 17, 2018

A colleague/friend asked today how I thought the “FANG saga” would end.  I replied that I don’t know about GOOG and FB, but AMZN is maybe worth $50/share as it burns cash every quarter despite manufacturing GAAP “net income” so it’s hard to tell for sure – it could be worth less.  NFLX is eventually going to have to restructure its debt, which means the equity is worth zero.

NFLX soared $50 after-hours today after it reported an earnings “beat” for its Q3.  But, per its statement of cash flows, NFLX’s operations burned $690 million for the quarter, 33% more than Q2 and nearly triple the operations cash burn in Q1.  For the first nine months of 2018, NFLX’s operations have incinerated $1.45 billion.   You can see the numbers here:  NFLX Q3 financial statements.  Note:  NFLX uses an unconventional method of reporting its financials, posting them to its website in a read-only spreadsheet format that makes it a pain in the ass to read and analyze the numbers.

How does NFLX manage to show positive net income yet burn hundreds of millions of dollars each quarter?  It’s the magic of GAAP accounting.  I did a detailed analysis for my Short Seller’s Journal subscribers last year.  Each quarter NFLX has to spend $100’s of millions on content.  Most companies like NFLX capitalize this cost and amortize 90% of the cost of this content over the first two years.   Amortizing the cost of content purchased is then expensed each quarter as part of cost of revenues.  Companies can play with the rate of amortization to lower the cost of revenues and thereby increase GAAP operating and net income.

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Poof or is it a lack of PROOF?

JB

 

 

 

 

 

 

 

Breaking the law is finally against the law.

JB

Former Minnesota FBI Agent Sentenced to 4 Years in Prison for Leaking Documents
October 18, 2018

Terry James Albury, a former FBI agent in Minnesota, was sentenced to four years in prison with an additional three years of supervised release on Thursday in U.S. District Court in Saint Paul.

Albury admitted that he leaked documents to a reporter from The Intercept, an online news publication.

He worked as an FBI Special Agent at the field office in Minneapolis at the time of the disclosure in 2016-2017. He was also working as a liaison with the Department of Customs and Border Protection at MSP International Airport during that same time period.

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Courtesy of GG.

Jim

Breaking: Yesterday’s Indicted Leakers Are Linked to Mueller Team Member ANDREW WEISSMANN and DOJ Fusion GPS Collaborator BRUCE OHR
October 18, 2018

The indictment of US Treasury officials yesterday is more important than first thought.  The individuals indicted have close ties to demoted DOJ lawyer Bruce Ohr and Mueller team corrupt attorney Andrew Weissmann!

On Tuesday, 40-year-old Natalie May Edwards, the senior advisor in the Treasury Department’s  Financial Crimes Enforcement Network, was arrested and criminally charged for leaking confidential financial documents relating to former Trump campaign manager Paul Manafort, the Russian embassy and accused Russian spy Maria Butina.

Ms. Edwards, who leaked the documents related to the Manafort case, was interviewed by Ronan Farrow six months ago. It now looks like that was an attempt by her to set herself up as a whistle blower rather than the leaker she is –

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Courtesy of JB.

Jim

Tom Fitton On CBN: 3.5 MILLION ‘Ghost Voters’ On Voter Rolls–‘That’s Where You Get Fraud’
October 18, 2018

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Courtesy of JB.

Jim

Judicial Watch: Federal Judge ‘Shocked’ Clinton Aide Granted Immunity by Justice Department
October 17, 2018

Court Criticizes State Department for Providing False Statements on Clinton Emails

(Washington, DC) – Judicial Watch announced today that in his opening remarks at a Friday, October 12 hearing, U.S. District Court Judge Royce C. Lamberth strongly criticized the U.S. Department of State, stating, “The information that I was provided was clearly false regarding the adequacy of the [Clinton email] search and… what we now know turned out to be the Secretary’s email system.”

Turning his attention to the Department of Justice, Judge Lamberth said that he was “dumbfounded” by the agency’s Inspector General report revealing that Cheryl Mills had been given immunity and was allowed to accompany former Secretary of State Hillary Clinton to her FBI interview:

I had myself found that Cheryl Mills had committed perjury and lied under oath in a published opinion I had issued in a Judicial Watch case where I found her unworthy of belief, and I was quite shocked to find out she had been given immunity in — by the Justice Department in the Hillary Clinton email case. So I did not know that until I read the IG report and learned that and that she had accompanied the Secretary to her interview.

(In an April 28, 2008, ruling relating to Mills’ conduct as a White House official in responding to concerns about lost White House email records, Judge Lamberth called Mills’ participation in the matter “loathsome.” He further stated Mills was responsible for “the most critical error made in this entire fiasco … Mills’ actions were totally inadequate to address the problem.”)

Lamberth also complained that the Justice Department attorney representing the State Department was using “doublespeak,” and playing “word games.”

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Jim/Bill,

It’s 10 pm. Do you know where your assets are?

Is another “Great Depression” on the horizon?

It would be easier to dismiss these words from Nouriel Roubini, Marc Faber or other doom-and-gloom prognosticators. Coming from Christine Lagarde’s team, though, they take on a new dimension of scary.

The International Monetary Fund head isn’t known for breathlessness on the world stage. And yet the IMF sounded downright alarmist in its latest Global Financial Stability report, stating that “large challenges loom for the global economy to prevent a second Great Depression.”

Even some market bears were taken aback. “Why,” asks Michael Snyder of The Economic Collapse Blog would the IMF use this phrase “in a report that they know the entire world will read?”

Time to prepare?

 

 

 

 

 

 

CIGA Wolfgang Rech

IMF Issues Dire Warning – ‘Great Depression’ Ahead?
October 17, 2018

Is another “Great Depression” on the horizon?

It would be easier to dismiss these words from Nouriel Roubini, Marc Faber or other doom-and-gloom prognosticators. Coming from Christine Lagarde’s team, though, they take on a new dimension of scary.

The International Monetary Fund head isn’t known for breathlessness on the world stage. And yet the IMF sounded downright alarmist in its latest Global Financial Stability report, stating that “large challenges loom for the global economy to prevent a second Great Depression.”

Even some market bears were taken aback. “Why,” asks Michael Snyder of The Economic Collapse Blog would the IMF use this phrase “in a report that they know the entire world will read?”

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Good’ern JB!

Bill

 

 

 

 

 

 

 

 

 

Wolfgang,

I would not call it discrimination, rather, it is indoctrination?

Best,

Bill

Jim/Bill,

There is something seriously wrong here.

Damn all the focus on Race/Color/Creed.  We already understand that.

This is about being punished if you don’t have the same political beliefs of the Professor or the University.

Avid discrimination at its finest.

Just shows you what direction (barreling downwards toward Hell) our country is going in.

CIGA Wolfgang Rech

Professor Offers Extra Credit For Attending Democrat Campaign Event
October 17, 2018

A Georgia professor offered her students extra credit to attend a campaign event that a Democrat gubernatorial candidate hosted on campus with Democrat Sen. Elizabeth Warren.

Clayton State University criminal justice professor Andrea Allen offered students extra credit to attend an event on Tuesday supporting Democrat Georgia gubernatorial candidate Stacey Abrams, according to the Atlanta Journal-Constitution.

“Although I never offer extra credit, I’m making a one-time exception,” Allen told students in the email.

“I’m sure you’ve heard by now that the Abrams campaign along with Senator Warren are visiting campus tomorrow at 10 am in the UC commons. They would like a really big turnout. To help out I’m offering the following opportunity: If you attend, take a selfie of you at the events, and upload a pic to the folder I’m creating in D2L, I’ll add 2 bonus points to your final grade.”

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Tom Fitton: Mueller is King of the DOJ
October 17, 2018

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Courtesy of GG.

Jim

Organized Honduran Migrant Caravan Attempts to Reach U.S. Border to Coordinate with Mid-Term Election…
October 16, 2018

Last week there were six unique encounters between President Trump and U.S. journalists where the topic of illegal aliens and family border separations was brought up.  It seemed odd at the time because the issue has not been a topic within discussion.  These exchanges culminated in CBS correspondent Leslie Stahl asking the same question repeatedly during a 60 minutes interview on Sunday night.

Now things become clear.  There are thousands of Honduran migrants traveling north to the U.S. border timed to arrive in conjunction with the mid-term election.  Obviously an engineered narrative timed by the political left and media allies.

WASHINGTON (Reuters) – U.S. President Donald Trump threatened on Tuesday to withdraw funding and aid from Honduras if it does not stop a caravan of migrants that is heading to the United States, in his latest effort to show his administration’s tough stance on immigration.

The message, driven home by Vice President Mike Pence who said he spoke to Honduran President Juan Orlando Hernandez, could further encourage the Central American country to move closer to China because of what it sees as weak U.S. support.

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Courtesy of GG.

Jim

Raymond James – Gold Breaks Out!
October 17, 2018

Raymond James says gold has broken out, but issues a warning regarding the trading action on NASDAQ and in China.

CRITICAL Upside Resistance Test for NASDAQ

 (King World News) – Here is a portion of what Andrew Adams from Raymond James wrote today:  This long-term chart of the NASDAQ concerns me more than anything else I’ve seen surrounding the recent market decline. I featured it in past weeks to illustrate why the market likely had limited near-term upside while the NASDAQ was knocking up against the upper end of its long-term price channel last month, but now the index has broken down through the clear support that was in place going back to the early 2016 low (lower red line).

 

 

 

 

Since it actually closed last week beneath this line, we must take the violation seriously for now, especially considering all the NASDAQ has done to this point is bounce back to the lower side of this (now resistance) line. The index REALLY needs to rally back over this line quickly to imply that it was just a false breakdown; otherwise, a drop from here would not be good technical action…

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From our friend Dan Kurz.

Bill

Post #52: Given That The Left Still Refuses To Accept The 2016 US Election Outcome, We Are In A Very Dangerous Place
October 13, 2018

With 2018 midterm elections less than a month away, a return to more representative, less lawless government hangs in the balance:

Trump won and the Republicans are (still) in control of both chambers of Congress, but neither the Democrats, the media, Hollywood, the universities, Silicon Valley, K Street, Wall Street, nor the administrative (deep) state have accepted the election results.  Quite the representative government and rule of law pummeling resistance.  Hillary Clinton’s and Barrack Obama’s Saul Alinksy rules for radicals playbook in action.  We see Alinksy’s mobster tactics at work everywhere.  Perhaps the conviction that the left refuses to accept the 2016 election result is best captured thusly:

The never-ending Trump Russian collusion witch hunt (if anyone colluded, it was felonious, traitorous Hillary Clinton — and I won’t mention Senator Feinstein’s Chinese chauffeur spy for some 20 years and all her and her husband’s crony Chinese deals). Mitch McConnell, are you listening?  Apparently so, for suddenly you are no longer obstructing the good part of Trump’s agenda, but greasing the skids for it.

The unending presidential impeachment threats despite Trump having violated no laws (again in stark contrast to many former Democratic power-brokers); if he had, Mueller’s band of high-powered Democratic operatives would have long discovered it.

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Courtesy of Dave.

Jim

Oil Priced $400 In Yuan, Russian Military Base – Saudi Insider Says Kingdom Mulls 30 Anti-US Moves
October 16, 2018

If the US imposes sanctions on Saudi Arabia, it will “stab its own economy to death” the head of Al Arabiya said. Riyadh may become friends with Iran, trade its oil in yuan and invite the Russian military.

Saudi officials said they may retaliate against the US, if Washington delivers on a threat to impose sanctions over the disappearance of Washington Post columnist Jamal Khashoggi. Turki Aldakhil, the General Manager of the Saudi international news network Al Arabiya, said Riyadh was considering some 30 moves that it may take in response to possible sanctions, and many of those he mentions seem pretty harsh.

In an op-ed published on Sunday, the insider said Saudi influence on the oil market alone puts it into position to badly hurt American interests. “If the price of oil reaching $80 angered President Trump, no one should rule out the price jumping to $100, or $200, or even double that figure,” he wrote, adding that Riyadh may start pricing its crude in Chinese yuan rather than US dollar, dealing a blow to its status as a world reserve currency.

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Humor coming right at you.

JB

 

 

 

 

 

 

 

 

 

Jim/Bill,

A picture is worth a thousand words.

Dave

Posted by & filed under Jim's Mailbox.

They are like a dog on the mailman’s leg JB!

Bill

They are the ones that broke it open, Tom Fitton is a real American Hero!

 

Courtesy of Dave.

Jim

The Trump Trade War Recession?
September 28, 2018

“A conservative is someone who stands athwart history, yelling stop, at a time when no one is inclined to do so, or to have much patience with those who so urge it.”

—William F. Buckley, Jr., 1955

I will never compare myself to Bill Buckley, as a writer or anything else. He was one-of-a-kind and a personal hero who I am disappointed to say I never met but who I read a lot. The response to my recent tariff comments gives me a small hint of how it must have felt to “stand athwart history” and launch the modern conservative movement. Many of you support the tariffs. And I understand your reasons. I really do.

Free trade used to be a core belief of the conservative movement. Hayek, Friedman, Mises, Rothbard, and numerous other economists eloquently explained why. Several liberal economists agree. Conservative politicians spent the last few decades moving us in that direction, albeit imperfectly and with some big mistakes along the way. But few disagreed with the ideal.

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Jim/Bill,

A “GOLDEN” paradox with a “SILVER” lining.

Two of the heaviest metals on the Periodic Table offer the lightest versatility.

Just what the Comex doesn’t need to hear…another application.

CIGA Wolfgang Rech

New Gold-Silver Alloy To Supply U.S. Military With Lighter, More Powerful Devices
October 15, 2018

(Kitco News) – Scientists backed by the U.S. Army have developed a new gold-silver alloy that would lighten U.S. military’s devices as well as make them more powerful, according to a new study.

The new alloy comes from the U.S. Army Research Laboratory — completed in conjunction with the University of Maryland and Brazil’s Paulista State University.

The discovery opens doors for lighter electronic devices that are more precise, powerful and energy efficient, authors of the study wrote in an article published in the Advanced Optical Materials last month.

“When tuned properly, the integrated alloyed materials can lead to reductions in the weight of energy harvesting devices, lower power requirements for electronics and even more powerful optical sensors,” said one of the authors Joshua McClure from the U.S. Army Research Laboratory.

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Greyerz – This Will Make The World As We Know It Unrecognizable
October 14, 2018

As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies, warned King World News that this will make the world as we know it unrecognizable.

What A Difference A Day Makes

 (King World News) – Egon von Greyerz:  “What a difference a day makes!” Well we didn’t get the sun and the flowers like in Dinah Washington’s song but more like storm and showers. For the ones who don’t remember Dinah, Amy Winehouse made a more recent version of the song. Last week I warned investors again, in the strongest tone possible, of the risks in markets. So what triggered it? Was it the Fed’s interest rise? Or was it the trade war with China? Or maybe it was Kavanaugh?

We mustn’t believe that we can predict the exact time something will happen. Nor do we know what will cause a turn in markets. But what we have known for quite some time is that markets have been extremely vulnerable to a turn…Egon von Greyerz continues:  “Last week I said:

“With 19 Hindenburg Omens since August (a very bearish technical signal), the US market looks extremely vulnerable. So do most major markets around the globe after one of the longest and steepest bull markets in history. Whether or not we will see a final exhaustive up move or not is irrelevant. Risk is at a maximum and we are very near the start of one of the biggest secular bear markets in history. Now is the time to be safe rather than sorry.”

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Posted by & filed under Jim's Mailbox.

Bill,

Could this be the truth bomb and why he is dead?

Dave

Did Saudis, CIA Fear Khashoggi 9/11 Bombshell?
October 14, 2018

The macabre case of missing journalist Jamal Khashoggi raises the question: did Saudi rulers fear him revealing highly damaging information on their secret dealings? In particular, possible involvement in the 9/11 terror attacks on New York in 2001.

Even more intriguing are US media reports now emerging that American intelligence had snooped on and were aware of Saudi officials making plans to capture Khashoggi prior to his apparent disappearance at the Saudi consulate in Istanbul last week. If the Americans knew the journalist’s life was in danger, why didn’t they tip him off to avoid his doom?

Jamal Khashoggi (59) had gone rogue, from the Saudi elite’s point of view. Formerly a senior editor in Saudi state media and an advisor to the royal court, he was imminently connected and versed in House of Saud affairs. As one commentator cryptically put it: “He knew where all the bodies were buried.”

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Posted by & filed under Jim's Mailbox.

Courtesy of JB.

Jim

 

 

 

 

 

 

Jim/Bill,

Peter Pan comes back from flying high, but finds nowhere to land!

 

 

 

 

 

 

Look for the “golden” runway m’boy.

CIGA Wolfgang Rech

Don’t Hold Your Breath For A “Powell Put” To Protect From The Market Plunge
October 11, 2018

In April of this year, Deutsche Bank calculated the level of the new “Powell Put,” noting that one can estimate the strike of that ‘put’ in two different ways.

    First, delta neutral, in which a rise in vol is compensated with lowering of the strike in such a way that the underlying is unchanged. Using this approach we find that the S&P drop started at the point when S&P was at 2800 which places the new strike of the Fed put somewhere in the 2300 — 2400 range.

Adding that the “Fed put is embedded in the beta, which represents response of stocks to rates rise. Higher strike, i.e. lower deductible, implies a more protective Fed; lower beta corresponds to a higher deductible or a lower strike of the put.” And as shown above, where previously the beta was 10, it has since jumped to 30, meaning that the Fed remains highly protective (as Bank of America repeatedly showed before). According to Kocic, “this is a residual of the Fed’s awareness of the distortions caused by QE as well as the market’s vulnerability to stimulus withdrawal.”

And as Deutsche further explaineds, it is very unlikely that the market will sell off in a calm, cool and collected manner from its current level to 2,300; in fact, the drop would likely be far more stormy as a result of unwinding convexity flows, which push investors out of equities and into bonds. His explanation below:

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How many Goldman employees does it take to run a country?

Dave

“Not Interested” – Dina Powell Won’t Replace Nikki Haley As UN Ambassador; Will Remain At Goldman: BBG
October 11, 2018

Former Deputy National Security Advisor for Strategy Dina Powell is said to be one of President Trump’s top candidates to replace Nikki Haley as ambassador to the UN when Haley leaves her post at the end of the year. However, according to a Bloomberg report, Powell is leaning toward staying at Goldman Sachs, where she serves on the bank’s 32-member advisory committee. Trump has reportedly called Powell about the job twice, once before Haley announced her resignation and again on Wednesday after their joint goodbye press conference. And although several Goldman execs who reportedly spoke with BBG for its story said they believe Powell would ultimately take the job if offered, others are aggressively pushing for her to stay.

“Dina is certainly a person I would consider and she’s under consideration,” said Trump, who has said he’s considering five people for the job, including Powell. Politico reported on Wednesday that Powell is the ‘top candidate’ for the job.

But Goldman CEO David Solomon made clear that he hopes Powell will remain at Goldman (presumably because the bank needs someone on the inside with strong connections inside the administration, particularly after the controversy surrounding Gary Cohn’s departure). However, if Powell did take the job, she would likely represent a revival of the ‘globalist’ wing of the Trump administration that appeared to lose out to the Bannonites after the Cohn’s departure.

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Courtesy of JB.

Jim

Lawless FBI’s Dir. Refuses To Deny That Trump’s Phone Calls Are Being Listened To
October 11, 2018

The deep state’s agenda against President Donald Trump has become even clearer after FBI Director Christopher Wray refused to give an answer when asked if the FBI has spied on the president.

During a Senate hearing on Wednesday, Wray answered several questions about the FBI investigation into sexual assault allegations against Supreme Court Justice Brett Kavanaugh.

However, the more important story, in terms of the deep state’s surveillance on American citizens, hasn’t been getting as much coverage.

The deep state’s agenda against President Donald Trump has become even clearer after FBI Director Christopher Wray refused to give an answer when asked if the FBI has spied on the president.

During a Senate hearing on Wednesday, Wray answered several questions about the FBI investigation into sexual assault allegations against Supreme Court Justice Brett Kavanaugh.

However, the more important story, in terms of the deep state’s surveillance on American citizens, hasn’t been getting as much coverage.

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Posted by & filed under Jim's Mailbox.

This Amazon chart is broken, IMPOV shows the end of the bull market.

GG

PDF

 

Jim/Bill,

China Blinks First In LNG Face-Off With US

I beg to differ.

It’s not called “Blinking”.

It’s called “Not cutting off your nose to spite your face”.

As a massive importer of energy to support their huge growth, it behooves them to pick and choose sanctions.

Only makes sense.

That very action defies the article’s supposition that China’s economy is tanking.

“The move is intended to provide easier lending and more liquidity in China’s economy as the impact of U.S. sanctions start to hit manufacturing and the overall economy.”

Either your economy is slowing and therefore energy isn’t that critical….

or your economy is growing, and you need the damn stuff.

This appears to be nothing more than a propaganda piece to support our actions.

Appears to me that this will be a prolonged trade war.

CIGA Wolfgang Rech

China Blinks First In LNG Face-Off With US
October 10, 2018

Authored by Tim Daiss via Oilprice.com,

Amid the ongoing trade war between the U.S. and China, it seems that Beijing may be getting the short end of the stick already.

On Sunday, the People’s Bank of China said it was cutting the reserve requirement ratio for most banks by 100 basis points, which will result in an injection of 750 billion yuan ($109.2 billion) in cash into China’s banking system. The move is intended to provide easier lending and more liquidity in China’s economy as the impact of U.S. sanctions start to hit manufacturing and the overall economy.

Not business as usual

Several analysts are claiming that the ratio move shows China is getting nervous about a protracted trade war with the U.S. However, if China is getting the jitters, the official tone coming out of Beijing is more stiff lipped defiance. The government claims in a 71-page paper that it’s not afraid of a trade war and that its economy is “heavily resilient.”

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Has anyone else noticed that there are no democratic blah blah yesterday? Monday is normally the attack day created in order to cause an all week melt down but alas…A nothingburger…

JB

 

This is a must listen about how the Democrats fight with wrap-up smears! This is the way they fight e.g. Ford/Kavanaugh!

GG

Nancy Pelosi Reveals Familiar Smear Tactic
October 10, 2018

House Minority Leader Nancy Pelosi explained in a 2017 press conference a common “wrap-up” smear tactic she claimed Republicans have used in the past.

However, the method Pelosi described seems to resemble what Democrats used over Justice Brett Kavanaugh’s Senate confirmation hearings.

“You smear somebody with falsehoods and all the rest, and then you merchandise it,” Pelosi said in 2017, in reference to Republicans.

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Could it be this was what it was all about?

Cheers,

CIGA Robert

Brett Kavanaugh And The Quiet Lawsuit Exposing $Millions In Clinton, DNC Money Laundering
October 6, 2018

DNC Motive for Destruction: Newly-minted Supreme Court Justice Brett Kavanaugh is just one court ruling and two appeals away from casting a deciding vote in a federal lawsuit alleging massive money laundering by the DNC, Hillary for America, and the Hillary Victory Fund.

Call it three degrees of separation. And Kevin Bacon nowhere in sight. Reverse the initials from KB to BK and Brett Kavanaugh can start a new game with intrigue that might carry a federal prison sentence.

Soon and very soon, Supreme Court Justice Brett Kavanaugh will be smack dab in the midst of a roiling but quietly building Federal lawsuit against the Federal Election Commission involving Hillary Clinton and the Clinton Victory Fund that alleges a very fancy paper shuffle and the laundering of hundreds of millions of dollars in individual campaign contributions too large to be legal, but easily broken down and concealed in legal, bite-sized chunks.

In April of this year, the group, Committee to Defend the President filed suit against the Federal Election Commission alleging the FEC had purposefully ignored campaign finance violations of at least $84-million stemming from hundreds of transactions between state Democrat party committees, the DNC and the political action committee, Hillary Victory Fund.

Among other things, the suit alleges that Hillary’s 2016 Presidential Campaign used money transfers between 40 state Democrat party committees and the Hillary Victory Fund to break down too-large-to be-legal campaign donations into smaller contributions that were then sent back to the Hillary Victory Fund in legal amounts.

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Courtesy of Dave.

Jim

‘Great Depression’ ahead? IMF sounds dire warning
October 9, 2018

Is another “Great Depression” on the horizon? It would be easier to dismiss these words from Nouriel Roubini, Marc Faber or other doom-and-gloom prognosticators. Coming from Christine Lagarde’s team, though, they take on a new dimension of scary.

The International Monetary Fund head isn’t known for breathlessness on the world stage. And yet the IMF sounded downright alarmist in its latest Global Financial Stability report, stating that “large challenges loom for the global economy to prevent a second Great Depression.”

Even some market bears were taken aback. “Why,” asks Michael Snyder of The Economic Collapse Blog would the IMF use this phrase “in a report that they know the entire world will read?”

Perhaps because, unfortunately, the findings of other referees of global risks – including the Bank for International Settlements – hint at similar dislocations.

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Courtesy of Dave.

Jim

Don’t Believe the Media Hype on Bank Stocks and Rising Interest Rates
October 9, 2018

The 10-year U.S. Treasury note touched a 7-year high in yield early this morning at 3.25 percent before falling back to 3.22 percent in mid-morning trading. As rates have risen over the past year, we’ve witnessed a growing chorus of business writers repeating the following mantra, or words to this effect: bank stocks will do well, even in a rising interest rate environment, because the spread will widen on what they pay to their depositors versus the rate that they earn on loans.

When it comes to five of the mega Wall Street banks – JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley – you can throw that advice out the window. That’s because these are not so much banks as they are black holes of interconnected and concentrated interest-rate risk with trillions of dollars of derivatives sitting on their balance sheets. And since any blowup among these behemoths will taint the entire banking sector, this advice is also faulty for the entire sector.

We can already hear the naysayers countering that these are smart banks that know how to hedge their interest-rate risk and derivatives risk. Not only do we have the 10-year anniversary of the greatest Wall Street bank crash since the Great Depression to remind us that this isn’t so, but we also have basic math to tell us otherwise.

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Jim/Bill,

Who’s minding the store?

Perhaps we’ll get a Robot for President of Amazon one day.

But for now, we’re getting robotic workers.

Ol’ Henry had it right…..but there was a rhyme and reason to his madness.

‘In 1914, Henry Ford made a big announcement that shocked the country.

That morning, Ford would begin paying his employees $5.00 a day, over twice the average wage for automakers in 1914.

“We increased the buying power of our own people, and they increased the buying power of other people, and so on and on,” Ford wrote. “It is this thought of enlarging buying power by paying high wages and selling at low prices that is behind the prosperity of this country.”

Ford believed he was buying higher quality work from all his employees. “If the floor sweeper’s heart is in his job he can save us five dollars a day by picking up small tools instead of sweeping them out.”

https://www.saturdayeveningpost.com/2014/01/ford-doubles-minimum-wage/

If you pay people more, they will be more able to purchase your products AND you’ll get the ancillary benefit of worker loyalty and increased productivity….which inherently pays for the increase in wages.

But alas, Amazon is not as intellectually astute as Henry was.  Their arm is being twisted by inflationary pressures

(thank you Congress for your deficit binges).

Amazon MUST raise wages because no one will work for “coolie” wages anymore. (pardon my politically incorrect choice of words.  No offense is meant to the Asian workforce of the nineteenth century that built our railway system under oppression.)

“Thanks to low unemployment, Amazon has found it increasingly difficult to attract workers – hence the wage increases. All of this means a more expensive workforce, which is a major reason for the push to replace humans with robots.

And ironically, ANOTHER Ford understands quandary: 

According to futurist and author Martin Ford, Amazon will have replaced most of its human pickers with autonomous robots within five years.”  The productivity gains made in automation won’t matter if there aren’t enough employeed people to spend money on consumer goods. “We have to solve the problem of getting rid of people and replacing them with machines.” 

CIGA Wolfgang Rech

Disgruntled Amazon Workers About To Be Replaced By Fleet Of Robots
October 11, 2018

Amazon, which announced a $15 minimum wage bump for 250,000 employees last week, is developing a fleet of “picking” robots to staff its warehouses, known as fulfillment centers, according to The Information, citing three people with knowledge of the work.

Robot picker designed by Kindred Systems

Warehouse pickers grab items from shelves and put them into bins before they are prepped and shipped. The new robots will be able to visually identify items as they speed down a conveyor belt, then pick them up with a compressed-air vacuum gripper before moving them onto a table or shelf – said an employee who witnessed the robot in action.

That said, our future robot overlords aren’t quite ready for prime time.

For its part, Amazon says picking robots aren’t yet ready to handle the huge variety of items in Amazon fulfillment centers, with their different shapes, weights and sizes. In an emailed statement, Brad Porter, vice president and distinguished engineer at Amazon Robotics, said human pickers are also much better at spotting problems such as a leaking jug of laundry detergent before it is shipped to a customer. 

“We regularly look at our operations and evaluate how we can bring technology to create new solutions for employees,” said Mr. Porter. “When it comes to using robotic manipulation for item picking, while we’re encouraged by the work in the research community, the simple fact is the current state of the art is not capable of handling the diversity of Amazon’s product selection.” -The Information

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Courtesy of JB.

Jim

Veritas Undercover: Tennessee Democrat Lied About Kavanaugh Support To Pander For Votes
October 11, 2018

Staffers for Tennessee Democratic candidate Phil Bredsen admitted to undercover investigators that the supposedly moderate politician was lying to his base about supporting then-Supreme Court nominee Brett Kavanaugh in order to pander to his base.

The admissions were revealed in a 10 minute video released Wednesday night by James O’Keefe of Project Veritas.

In the video, Bredsen campaign field organizer Will Stewart calls residents of Tennessee “ignorant” – claiming that his boss only announced support for Kavanaugh to earn political points among voters.

. . .

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Revealing more and more evidence…I love Judicial Watch!

Judicial Watch Uncovers More Classified Material on Hillary Clinton’s Unsecure Email System
October 10, 2018

(Washington, DC) — Judicial Watch announced today that it received 288 pages of newly uncovered emails of former Secretary of State Hillary Clinton that were transmitted over her unsecure, non-“state.gov” email system, three of which contain classified information.

Judicial Watch obtained the documents in response to a Freedom of Information Act (FOIA) lawsuit filed on May 6, 2015, after the State Department failed to respond to a March 4, 2015, FOIA request (Judicial Watch v. U.S. Department of State (No. 1:15-cv-00687)) seeking:

All emails sent or received by former Secretary of State Hillary Rodham Clinton in her official capacity as Secretary of State, as well as all emails by other State Department employees to Secretary Clinton regarding her non-“state.gov” email address.

The documents are part of an accelerated schedule of production ordered by U.S. District Court Judge James E. Boasberg, which required the State Department to complete processing by September 28, 2018, the remaining documents of the 72,000 pages recovered by the FBI in its investigation into Hillary Clinton’s illicit email server. These new classified and other emails appear to be among those that Clinton had attempted to delete or had otherwise failed to disclose.

Classified information was sent in a January 26, 2010, email from Jake Sullivan, Secretary Clinton’s top foreign policy adviser, to Clinton and her top aide Huma Abedin explaining that he has “pasted” (his word) from another document a written summary sent to him from former British Prime Minister Tony Blair. Blair’s conversations are with British Prime Minister Gordon Brown and Irish leaders regarding the sensitive Northern Ireland peace process.

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And they called us crazy for stocking up…

JB

Tom Fitton on NRA TV: Obama ATF Tried to Do ‘End-Run’ Around 2nd Amendment by Banning Ammo
October 11, 2018

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The losers inciting riotous actions should be held accountable. Courtesy of JB.

Jim