Posts Categorized: Jim’s Mailbox

Posted by & filed under Jim's Mailbox.

Courtesy of JB.

Jim

 

 

 

 

 

 

 

 

 

Let’s see. One priest or Turkey. I do not know the priest, but it sounds OK to me. Give us the priest!

Jim

This is what dictators do they play the populus how many people has he thrown in prison – his gold/oil deal with Iran!

GG

In Furious Rant Erdogan Lashes Out At Trump: “We See The Game You’re Playing, We Dare You”
August 12, 2018

In the wake of the U.S. doubling tariffs on Turkish steel and aluminum on Friday which sent the Turkish lira and capital markets into free fall, Erdogan wrote a Friday New York Times op-ed cataloging his grievances and threatening to walk away from the decades-old alliance. “Failure to reverse this trend of unilateralism and disrespect will require us to start looking for new friends and allies,” he wrote. Meanwhile, while announcing the new sanctions aimed at Turkey, Trump tweeted his “analysis” of the situation: “Our relations with Turkey are not good at this time!”

The escalating war of words continued on Saturday, when speaking at a rally in the Black Sea town of Unye, Erdogan said that “it is wrong to dare bring Turkey to its knees through threats over a pastor,” and blasted “shame on you, shame on you. You are exchanging your strategic partner in NATO for a priest.” At the same time, Ibrahim Kalin, Erdogan’s spokesman, said that the U.S. is “facing the risk of completely losing Turkey.”

And if anyone was hoping that Erdogan’s temper would have cooled one day later with just hours left before FX markets reopen, they were sorely disappointed on Sunday when in his latest public address in the town of Trabzon, Erdogan doubled down on his belligerent rhetoric against the US once again, via Bloomberg:

ERDOGAN: WE SEE THE GAME YOU’RE PLAYING; WE DARE YOU

ERDOGAN: THEY’RE TRYING W/ MONEY WHAT THEY COULDN’T DO IN COUP

More…

Posted by & filed under Jim's Mailbox.

Courtesy of JB.

Jim

 

 

 

 

 

 

 

 

This Bozostein should go to prison for a long time for abuse of power!

GG

Huge: Rosenstein Moved Cohen Case To New York – Then Ordered Trump-Appointed Us Attorney Geoffrey Berman To Recuse Himself
August 26, 2018

Earlier this year Dirty Cop Rod Rosenstein made the decision to turn over the Michael Cohen case to attorneys in the Southern District of New York. Rosenstein did this to ensure that the witch hunt against President Trump continued if President Trump shut down the junk Mueller investigation.

Rosenstein signed the 4th FISA court request to spy on President Trump despite knowing the request was based on a the Fusion-GPS dossier, a Democrat-funded oppo research project that was NEVER fact-checked.

Trump appointed attorney Geoffrey Berman recused himself from the investigation into Michael Cohen.

Rod Rosenstein approved the early morning raid of Michael Cohen’s residence. Geoffrey Berman was not involved in the decision to raid Cohen’s residence.

Rosenstein approved Mueller’s referral to Geoffrey Berman on Monday, April 9th. Rosenstein ordered raids on Cohen’s residence the following day. It is not clear why or when Berman recused himself from the investigation.

Wired sources claims that Rosenstein ordered Berman to recuse himself.

Wired Sources got this information from a New York Post article by Michael Goodwin.

The US attorney Trump appointed for that outpost, Geoffrey Berman, reportedly was ordered to recuse himself by Deputy Attorney General Rod Rosenstein, leaving the office staffed mostly by holdovers from Preet Bharara’s tenure.

More…

 

  1. Johnson’s latest. Courtesy of JB.

Bill

The Global Seas Of Currency Are Starting To Storm Up – J. Johnson’s Latest 8/27/18
August 27, 2018

Good Monday Morning Folks, 

We start our new week off with Gold trading at $1,211.90, losing $1.40 off of Fridays close with a price range between $1,214.70 and $1,209.30. Silver is barely down as well with its current price at $14.875, losing 2.6 cents with a high at $14.95 and a low at $14.82 so far this trading day way before 6am pst. All this is happening with London supposedly on holiday (cough). The US Dollar is equally uneventful with its value at 95.02, down 4.8 points with its high at 95.23 and the low at 94.90 as the 9500 Maginot line is once again crossed. 

The last days of the August delivery cycle for Silver is upon us with the OI numbers still at 23 which means the posted 20 volume of Friday was an immediate request for physical to the tune of 100,000 ounces as we see no volume posted so far today. I wonder if FIFO (first in first out) is the process for the deliveries, they should be, but? Silver’s overall OI still remains quite elevated with the count at 242,296 contracts losing only 276 obligations during Friday’s most excellent 29 cent+ move higher. Tomorrow is the last trading day for Sept Silver Options and Wednesday is the last trading day for August deliveries which also brings us to the First Notice Day for the September contracts coming this Friday. With the Open Interest at this level and the current price being what it is, the next few weeks actions should be quite telling. 

More…

 

This Lanny Davis is such a loser and bser!

GG

In Stunning Reversal, Michael Cohen’s Attorney Backpedals On Trump-Russia Claims
August 27, 2018

Lanny Davis – the attorney for Michael Cohen, has massively backpedaled on “confident assertions” that Cohen would share information with investigators that President Trump knew of Russian efforts to undermine Democratic nominee Hillary Clinton – a lifelong friend of Davis’.

The Washington Post reported on Sunday that Davis said in an interview that he is “no longer certain about claims he made to reporters on background and on the record in recent weeks about what Cohen knows about Trump’s awareness of the Russian efforts.”

    Davis told The Washington Post that he cannot confirm media reports that Cohen is prepared to tell special counsel Robert S. Mueller III that Trump had advance knowledge of the 2016 Trump Tower meeting -WaPo

CNN reported in July that Cohen claimed to have witnessed Trump approving the meeting between Trump Jr. and Russian attorney Natalia Veselnitskaya, arranged by an associate of opposition research firm Fusion GPS.

The day after CNN’s report, the Washington Post – using an “anonymous source” they now admit was Davis, peddled the same story that “Cohen had told associates that he witnessed an exchange in which Trump Jr. told his father about an upcoming gathering in which he expected to get information about Clinton,” however the Post didn’t say Trump Jr. told Sr. it was the Russians.

“I should have been more clear — including with you — that I could not independently confirm what happened,” Davis said, adding perhaps the most difficult four words for an attorney to utter: “I regret my error.”

More…

 

PRISOOONNNNNNN!

GG

Comey Lied Under Oath to Congress about Needing Warrant to Search Weiner’s Emails – FBI Started Their Search a Month Prior
August 26, 2018

Amidst all kinds of confusion and cover-ups, it now looks like fired former FBI Director James Comey lied to Congress more than once about the FBI’s investigation into Weiner’s emails.

This past week it was reported that the FBI failed to investigate a large portion of emails on the Weiner laptop before the election in spite of fired FBI Director James Comey claiming that they had and no issues were identified:

    “When then-FBI Director James Comey announced he was closing the Hillary Clinton email investigation for a second time just days before the 2016 election, he certified to Congress that his agency had “reviewed all of the communications” discovered on a personal laptop used by Clinton’s closest aide, Huma Abedin, and her husband, Anthony Weiner.

    At the time, many wondered how investigators managed over the course of one week to read the “hundreds of thousands” of emails residing on the machine, which had been a focus of a sex-crimes investigation of Weiner, a former Congressman.

    Comey later told Congress that “thanks to the wizardry of our technology,” the FBI was able to eliminate the vast majority of messages as “duplicates” of emails they’d previously seen. Tireless agents, he claimed, then worked “night after night after night” to scrutinize the remaining material.

    But virtually none of his account was true, a growing body of evidence reveals.

More…

 

The more currency devaluations we get in the periphery countries, the more physical gold and silver will be bought as a hedge against loss of purchasing power. See Bolivar chart.

GG

Greyerz – The Price Of Gold Is About To Skyrocket As We Enter The “Dark Years”
August 26, 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, told King World News that the price of gold is about to skyrocket as we enter the “Dark Years.”

A World Living On Borrowed Time

August 26 (King World News) – Egon von Greyerz:  “This is it! The autumn of 2018 will be momentous in the world economy, markets and politics. We are now seeing the ‘Last Hurrah’ for stocks, bonds, the dollar and most asset markets.

The world economy has been living on borrowed time since the 2006-9 crisis. The financial system should have collapsed at that time. But the massive life support that central banks orchestrated managed to keep the dying patient alive for another decade. Lowering interest rates to zero or negative and printing enough money to double global debt seems to have solved the problem. But rather than saving the world from an economic collapse, the growth of debt and asset bubbles have created a system with exponentially higher risk…

More…

 

Courtesy of Dave.

Jim

When Paper Money Goes To Zero Value: Venezuelan Hyperinflation Explained (PHOTO)
August 26, 2018

Inflation in Venezuela this year could top one million percent, the International Monetary Fund (IMF) predicts. This gallery puts the buying power of today’s bolivar into perspective.

A kilogram of meat costs 9,500,000 bolivars, or the equivalent of $1.45.

A 2.4 kg chicken is worth 14,600,000 bolivars, or $2.22.

A 1kg packet of rice costs 2,500,000 bolivars ($0.38)

More…

Posted by & filed under Jim's Mailbox.

Courtesy of Dave.

Jim

Is China Secretly Building Up Its Huge Gold Stockpile?
August 25, 2018

Official data from the People’s Bank of China (PBOC) shows the country’s gold reserves have not increased since 2016, when Donald Trump was elected US president. They stayed unchanged at 59.24 million ounces (1,843 tons).

As of the end of June, the PBOC valued its precious metal reserves at $74.1 billion.

Analysts, however, have raised doubts that Beijing has really stopped accumulating gold. They claim a potential trade war with the US and this year’s slump in gold prices are reasons for China to buy.

“The strategic imperative is probably still there to add some gold to reserves quietly bit by bit,” Philip Klapwijk, managing director of Precious Metals Insights, told Bloomberg. The expert, who has tracked precious metals for nearly 30 years, said, “The reason to own gold as a portfolio diversification is even better given the rather strained relations with the US.”

More…

 

Courtesy of Dave.

Jim

Putin Decimates Netanyahu’s Dreams As Russia Confirms Total Support For Iran In Syria
August 25, 2018

Deputy Foreign Minister Sergei Ryabkov made waves today, dispelling numerous rumors and laying to waste much ‘speculation’ about Russia’s role in Syria, with regard to Iran and Israel.

After difficult talks today in a meeting between senior Russian and US delegations to discuss Syria, in Geneva, Switzerland, Ryabkov’s statements today mirror those of Russian Foreign Minister Sergei Lavrov, and Russian Foreign Ministry Spokeswoman Maria Zakharova. Their previous statements reflect Russia’s actual, official policy on Iran and Syria. Today’s statements bring clarity to any number of vague remarks made in months past.

Israeli officials have yet to comment, but there will no doubt be huge reverberations for today’s statement, which clarifies any number of misconceptions spread, even in pro-Russian alternative media and analytic spheres. However, the spread of those important ‘misconceptions’ was critical in the information war, and only high-level analysts with connections to Moscow, understood the the nature of the information war discourse they were involved in. In that sense, these journalists and analysts were themselves involved in an important aspect of Russian strategy, within the context of 4th Generation Warfare, in terms of their work in creating a hyper-reality simulacrum.

More…

 

The supporting link to October 11th Hillary Clinton and the motion to compel.

JB

Court Sets Hearing on Motion to Compel Email Testimony from Hillary Clinton
June 13, 2018

Hearing in Judicial Watch Lawsuit Set for October 11

(Washington, DC) – Judicial Watch announced a federal court ordered a hearing for Thursday, October 11, 2018, on a motion to compel testimony about the email practices of former Secretary of State Hillary Clinton. The order was issued by U.S. District Court Judge Emmet G. Sullivan.

The development comes in a Judicial Watch Freedom of Information Act (FOIA) lawsuit about the controversial employment status of Huma Abedin, former Deputy Chief of Staff to Clinton. The lawsuit, which seeks records regarding the authorization for Abedin to engage in outside employment while employed by the Department of State, was reopened because of revelations about the clintonemail.com system (Judicial Watch v. U.S. Department of State (No. 1:13-cv-01363)).

In 2016, Hillary Clinton was required to submit, under oath, written answers to Judicial Watch’s questions. Clinton objected to and refused to answer questions about the creation of her email system; her decision to use the system despite warnings from State Department cybersecurity officials; and the basis for her claim that the State Department had “90-95%” of her emails. Judge Sullivan is considering Judicial Watch’s motion to compel answers to these questions.

In her responses sent to Judicial Watch and the court on October 13, 2016, Clinton refused to answer three questions and responded that she “does not recall” 20 times concerning her non-government clintonemail.com email system. She preceded her responses by eight “general objections” and two “objections to definitions.” The words “object” or “objection” appear 84 times throughout the 23-page document submitted to the court and Judicial Watch.

More…

Posted by & filed under Jim's Mailbox.

Please remember the October 11th date is in request of Judicial Watch’s FOIA requests.

JB

Bombshell: FEC Records Indicate Hillary Campaign Illegally Laundered $84 Million
April 24, 2018

The press continues to feed the dying Russia collusion conspiracy theory, spending Friday’s news cycle regurgitating Democrat talking points from the just-filed Racketeer Influenced and Corrupt Organizations Act lawsuit against the Trump campaign, WikiLeaks, and Russia.

Yet the mainstream media took no notice of last week’s federal court filing that exposes an $84 million money-laundering conspiracy the Democratic National Committee and the Hillary Clinton campaign executed during the 2016 presidential election in violation of federal campaign-finance law.

That lawsuit, filed last week in a DC district court, summarizes the DNC-Clinton conspiracy and provides detailed evidence from Federal Election Commission (FEC) filings confirming the complaint’s allegations that Democrats undertook an extensive scheme to violate federal campaign limits.

From Bundling To Money Laundering

Dan Backer, a campaign-finance lawyer and attorney-of-record in the lawsuit, explained the underlying law in an article for Investor’s Business Daily: Under federal law, “an individual donor can contribute $2,700 to any candidate, $10,000 to any state party committee, and (during the 2016 cycle) $33,400 to a national party’s main account. These groups can all get together and take a single check from a donor for the sum of those contribution limits—it’s legal because the donor cannot exceed the base limit for any one recipient. And state parties can make unlimited transfer to their national party.”

More…

 

Courtesy of Dave.

Jim

The American Scream
August 23, 2018

By Finian Cunningham

“Information Clearing House” – Just like when the medieval executioners tortured their prisoners to scream out for “mercy”, so today two former aides of US President Donald Trump are put being on the rack to extract a begging response. If they finger the president, then maybe mercy will be shown to the prisoners.

Trump’s former lawyer and his campaign manager are facing lengthy prison sentences for financial fraud and political campaign irregularities. Michael Cohen could get five years in jail, while Paul Manafort faces a soul-crushing 80 years behind bars. A de facto death sentence, given his age.

The set-up here is so obvious and pathetic. Both men are being dangled by the feet ahead of their sentencing, with the blatant purpose of forcing them to incriminate Trump, and in that way, Trump’s political enemies finally get their long-held objective of impeaching the president.

This is how the “American Dream” really operates. It’s dirty, grim, and brutal, and has very little to do with democracy or rule of law. Forget the emblems of supposed American civility, the white-picket fences, apple pie in bourgeois comfort, old glory fluttering down at the courthouse, and all those other imaginary democratic virtues.

More…

 

Of course she does. Top of the Top Clearance, I would imagine. At least up to last week. Courtesy of JB.

Jim

Does Hillary Clinton Have A Security Clearance? Those Who Know Won’t Say
August 23, 2018

President Trump revoked the security clearance of former CIA Director John Brennan last week after ordering a review of 10 people — one current and nine former officials — who he considers political adversaries.

One name not on the publicly announced list: former Secretary of State Hillary Clinton, the 2016 Democratic candidate whose campaign was plagued by an FBI investigation into her mishandling of classified information.

Many former officials retain security clearances, but the status of Clinton’s clearance is not publicly known, despite being subject to intense debate, including bicameral legislation seeking to revoke her access.

The State Department told the Washington Examiner that it could not release information about Clinton’s clearance, citing her privacy, and Clinton’s attorneys would not comment.

“Due to privacy considerations, the department does not release information on former employees,” said Anne Carey, a spokesman for the State Department’s Bureau of Diplomatic Security.

Judicial Watch President Tom Fitton scoffed at the response, saying “there is no privacy interest.”

More…

Posted by & filed under Jim's Mailbox.

Courtesy of JB.
Jim

Jim/Bill/Dave,

The Australian dollar is now also suffering because of the political situation.

As we saw with the lower Yuan and Rupee (India) when currencies go down initially gold and silver become more expensive and people sell “take profit” and don’t buy “ oo expensive” though this situation is abruptly reversed when people get afraid that the currency falling out of bed (Argentina, Turkey) and undergoes sharp devaluations because in those situations only gold and silver are the true preservers of your wealth. It is no longer about making a profit or being too expensive the issue is now about protecting your wealth.

Remember gold and silver are the mirror image of the reserve currency which ultimately is the anchor for all other paper currencies. Just ask the venezuelans if they would have preferred to have held gold and silver before this crisis began. Venezuela is the poster child for what is about to happen in many countries!!

Why hold gold and silver? Because all currencies including the US dollar will implode from their massive irresponsible debt overhang that never can be paid back and will demand a very painful debt restricting . As a last remark remember the currency is ultimately the benchmark of your wealth, if currency paper is worthless you don’t have anything that will never be the case of gold and silver the only asset class that is not dependent on the credibility of the economy, government and monetary authority’s actions. Physical gold and silver have value of their own people will always consider it to have value. That is different for the Zimbabwean Dollar or Venezuelan Bolivar

Best,

GG

Aggressive Traders Go Long: Sharp Rally In Gold & Silver Ahead As Technicals Are At Extremes
August 23, 2018

Captain Ewave says aggressive traders should consider going long in both gold & silver. Here’s what the technicals are telling him…

by Captain Ewave of CaptainEwave

GOLD:

Short Term Update:

clip_image001

If we are in the initial stages of wave .iii., we should expect a very large up day from gold this week, and a retaking of the 1204.00 level as a first step.

We are now challenging that high, and we will see if we break through and close above it in today’s trading session.  We will provide our initial projections for the end of wave .iii. only when we are sure that all of wave .ii. is complete at the 1167.10 low.

More…

Jim/Bill/Dave,

You can’t just dream it up it is all ridiculous — Davis is a huge fraud clearly!

GG

Cohen Attorney Lanny Davis Is Registered Foreign Agent for Pro-Russian Oligarch Wanted by US Government and Linked to Putin
August 22, 2018

On Tuesday former Trump Attorney Michael Cohen, on the advice of his attorney and Clinton advisor Lanny Davis, surrendered himself to the FBI after it was reported he reached a plea deal with federal prosecutors.

Michael Cohen admitted he violated campaign finance laws in relation to the Stormy Daniels payment at direction of a ‘candidate.’

Cohen attorney Lanny Davis is a registered foreign agent for Dmytro Firtash, a pro-Russia Ukrainian oligarch wanted by the US government.

Via Jack Posobiec:

clip_image002

Jordan Schatchtel added: Lanny Davis is co-founder and partner of the law firm of Davis Goldberg & Galper. I just checked FARA records. His firm is a registered *ACTIVE* foreign agent for Ukrainian oligarch Dmytro Firtash, who is a close ally of Russian pres Vladimir Putin.

More…

Key words how much information investors would demand?

In the used car business that is like looking under the hood and running away!

Dave

Saudi Arabia Calls Off Aramco IPO, Disbands Advisors
August 22, 2018

Two years ago, when the Aramco IPO was first floated, bankers on Wall Street declared a week-long fee orgy: after all, the $1+ trillion IPO – the biggest in history – was going to result in an underwriting fee bonanza. However, it was not meant to be, and last October the first reports emerged that the IPO would likely not happen over Saudi concerns over financial transparency, venue of the listing, and how much information investors would demand from Saudi Arabia about its oil deposits.

Then, two months after the FT reported that the Aramco IPO “almost certainly wouldn’t happen,” moments ago Reuters’ sources confirmed that Saudi Arabia has called off both the domestic and international stock listing of state oil giant Aramco.

The financial advisors working on the proposed listing have also been disbanded, as Saudi Arabia shifts its attention to a proposed acquisition of a “strategic stake” in local petrochemicals maker Saudi Basic Industries as we reported one month ago.

“The decision to call off the IPO was taken some time ago, but no-one can disclose this, so statements are gradually going that way – first delay then calling off,” a Saudi source familiar with IPO plans.

WTI Crude reacted modestly lower on the news.

clip_image004

More…

Courtesy of Dave.

Jim

The State of Democracy: 11-Year-Old Hacks A State Election Replica Website in Just 10 Minutes
August 22, 2018

At DEFCON 26, the world’s largest hacking convention that recently took place in Las Vegas, an 11-year-old boy managed to hack a replica of the Florida state election website and change voting results in less than 10 minutes. Organizers of the event said that at least 30 children were able to hack similar replica websites in under a half hour, including an 11-year-old girl who completed the job in just under 15 minutes.

One of the attractions of the event was the “DEFCON Voting Machine Hacking Village,” which allowed kids as young as 8 to take a shot at stealing a simulated election.

Nico Sell, co-founder of the non-profit r00tz Asylum, told the PBS NewsHour that these kids were able to hack sites that were exactly like those used for official elections in the United States.

“These are very accurate replicas of all of the sites. These things should not be easy enough for an 8-year-old kid to hack within 30 minutes, it’s negligent for us as a society,” Sell says.

Sell said that when they first tried a similar challenge last year, adult hackers were able to crack the websites in under five minutes.

More…

Posted by & filed under Jim's Mailbox.

CIGA Daniel sends us an open letter from one of the good guys in the Catholic church.

Bill

Bishop Morlino: ‘Homosexual Subculture’ a Source of Devastation in the Church
August 19, 2018

MADISON, Wis. — In response to the sex-abuse crises involving disgraced Archbishop Theodore McCarrick and the release of the Pennsylvania grand jury report, Bishop Robert Morlino of Madison, Wisconsin, has said that the Catholic Church must renew its conviction to identify and reject sin and admit that a homosexual culture among some clerics has caused great harm in the Church.

The bishop also called Catholics to join him in offering acts of reparation for the sins of sexual immorality among Catholic deacons, priests and bishops.

“For too long we have diminished the reality of sin — we have refused to call a sin a sin — and we have excused sin in the name of a mistaken notion of mercy. In our efforts to be open to the world, we have become all too willing to abandon the Way, the Truth and the Life. In order to avoid causing offense, we offer to ourselves and to others niceties and human consolation,” wrote Bishop Robert Morlino in a pastoral letter released Aug. 18.

“There must be no room left, no refuge for sin — either within our own lives, or within the lives of our communities. To be a refuge for sinners (which we should be), the Church must be a place where sinners can turn to be reconciled. In this I speak of all sin,” he added.

Bishop Morlino said that he had been sickened by reading the stories of sexual abuse contained in a report on clerical sexual abuse released Aug. 14 by a Pennsylvania grand jury and by allegations against former cardinal Theodore McCarrick, who has been accused of serially sexually abusing two teenage boys and of sexually assaulting and coercing priests and seminarians for several decades.

More…

 

Courtesy of Dave.

Jim

Russia Buys 800,000 Ounces Of Gold In July
August 21, 2018

– Russia buys 800k ozs of gold as diversifies reserves from USD

– Russia now has total gold reserves worth  just $76 billion; Dumped $90 billion of US Treasuries in April and May

–  25-ton addition brings Russia’s Central Bank holdings to 1,969 tons; the world’s 5th largest gold reserves

– Central bank buying Russian gold on Moscow Exchange for now

– Russia sees gold’s role as independent currency and safe haven as is a “100% guarantee from legal and political risks”

More…

Courtesy of Dave.

Jim

70% of Argentine Pensioners Living in Poverty
August 21, 2018

The minimum rate for pensions in Argentina only covers 40 percent of pensioners’ basic neeeds.

Argentina’s ombudsman for senior citizens, Eugenio Semino, said Monday that seven out of every ten senior citizens with a pension are unable to cover their basic expenses. With the situation worsening according to Semino since the rate of pension increases currently lag behind rising inflation.

According to their estimates, the increases in the prices of food, medicine, and home utilities place the value of the market basket for senior citizens or pensioners at 21,127 pesos (roughly US$707). However, in September the lowest pension will go from 8,096 to 8,637 pesos (US$290), which covers less than 40 percent of those expenses.

The office of the ombudsman for senior citizens has calculated the pensioners’ market basket every six months, for ten years. “When there are high inflationary peaks, like in 2014 and 2016, we do an extra calculation in the month of August. This calculation is made for the pensioners who live in urban centers,” Semino explained in an interview with a local TV station.

The situation is even worse for those who receive non-contributive pensions and the universal pension for senior citizens, who receive around 6,000 pesos (US$200) a month.

More…

Posted by & filed under Jim's Mailbox.

You are correct GG.

Bill

This would cause a financial nuclear implosion of asset values. More importantly all credibility would be used up! Only gold and silver have credibility.

GG

BOJ Issues “Red Hot” Warning: Stocks May Drop And We Won’t Be There
August 20, 2018

Remember when a 0.2% drop in the stock market was considered large enough to merit central bank intervention? If you can’t that’s ok: it was never meant to be the case. Only that’s not true in Japan: in recent years, every time the Japanese Topix index dropped more than 0.2% (a fifth of a percentage point), the BOJ would step in and buy ETFs to prevent what one can only assume would be a crash.

Only, Mrs Watanabe and other investors are getting increasingly nervous because that’s hasn’t been the case recently as the BOJ appears to be growing more comfortable with larger drops in Japan’s stock prices, a sign which according to Reuters suggests the bank may have started to telegraph to the market the “stealth tapering” of its massive monetary stimulus.

Whereas the Chinese “national team” stepped in on Monday to send the Shanghai Composite surging in the last hour of trading, launching a global risk rally, the BOJ has remained surprisingly quiet and refrained from buying stocks on two days this week when the Topix index was down more than 0.4% by midday. This is notable because it represents a sharp departure from the BOJ’s prior pattern when it bought ETFs on days when the index fell more than 0.2 percent.

To be sure, the BOJ has already been engaging in a “stealth tapering” in the bond market, where it has been purchasing progressively fewer government bonds over the past year. Over the past two years, the BOJ has sharply reduced its bond buying despite statements that it aims to increase its government bond holdings by ¥80 trillion ($722 billion) a year. In fact, as the chart below show, the latest 12 month average is now barely half of the BOJ’s stated target.

More…


Jim, exactly what we said on Saturday!

Dave

Stockman Slams “Unhinged” White House, Warns Of “World Market…Train Wreck”
August 20, 2018

In his ubiquitous no-holds-barred manner, former OIMB budget director David Stockman unleashed his own brand of fact-based reality on an unsuspecting CNBC audience late last week.

“You’ve got a train wreck on trade. You’ve got a train wreck on deficits hitting,” he said.

As the US equity market nears its longest-bull-market in history, Stockman is warning investors a crash is inevitable.

“This economy isn’t strong, and it can’t take the punishment that’s coming out of an unhinged White House and a Washington policy environment where they all have their heads in the sand,” Stockman said Thursday on CNBC’s “Futures Now.”

According to Stockman, the China trade war is the primary catalyst that could finally push stocks over the edge.

“We’re not going to have a happy solution to this. We’re in a trade war big time. It’s going to keep getting worse because Donald Trump is unhinged. He is an economic ignoramus on trade,” Stockman added.

“This is not caused by bad trade deals. Our big trade deficits are the result of bad monetary policy for decades. We priced [ourselves] out of the world market, and what he’s trying to do is going to cause a train wreck.”

More…


Courtesy of Dave.

Jim

Donald Trump: Fed Has Created A ‘False Economy’
September 6, 2016

It’s no secret that Donald Trump is unhappy with the Federal Reserve and the person who heads it: Janet Yellen.

Now Trump is blaming the Fed for creating a “false economy” with its emphasis on extremely low interest rates.

“They’re keeping rates down because they don’t want everything else to go down,” the Republican presidential nominee told Reuters on Monday.

Trump said the “only thing that is strong is the artificial stock market.”

It’s the latest example of Trump doubting the bull market in stocks and criticizing the Federal Reserve, an institution that tries hard to avoid being seen as having political motivations.

Trump has previously accused the Fed and Yellen of keeping rates low to help President Obama’s poll numbers. Obama nominated Yellen as the central bank’s first female chair in October 2013.

“We have a very false economy,” Trump told Reuters. “At some point the rates are going to have to change.”

More…


Courtesy of Dave.

Jim

Exclusive: Trump Demands Fed Help On Economy, Complains About Interest Rate Rises
August 20, 2018

WASHINGTON (Reuters) – U.S. President Donald Trump said on Monday he was “not thrilled” with the Federal Reserve under his own appointee, Chairman Jerome Powell, for raising interest rates and said the U.S. central bank should do more to help him to boost the economy.

In the middle of international trade disputes, Trump in an interview with Reuters also accused China and Europe of manipulating their respective currencies.

American presidents have rarely criticized the Fed in recent decades because its independence has been seen as important for economic stability. Trump has departed from this past practice and said he would not shy from future criticism should the Fed keep lifting rates.

The president spooked investors in July when he criticized the U.S. central bank over tightening monetary policy. On Monday he said the Fed should be more accommodating on interest rates.

More…

Posted by & filed under Jim's Mailbox.

Courtesy of Dave.

Jim

We Owe Sinead O’Connor An Apology – She Spoke The Truth About Child Abuse In The Church
August 19, 2018

Following the shocking revelations of 70 years of abuse of children by Pennsylvania priests, we owe Sinead O’Connor an apology.

Her declaration back in 1992 that the Catholic Church was rotten to its core and pedophile priests and their enablers were the real enemy was true.

It caused a massive worldwide reaction when she tore up a picture of the then Pope on Saturday Night Live in October 1992 and declared, “Fight the real enemy.”

We now know that the pedophile scandals were rampant during the era of Pope John Paul, who chose to turn a blind eye. O’Connor was calling out the right person.

More…

 

Courtesy of Dave.

Jim

65 Years Ago Today, the CIA Conspired with the UK to Overthrow Iran on Behalf of Big Oil
August 19, 2018

Today marks the 65th anniversary that the west carried out a coup in Iran that destabilized the county by overthrowing the country’s democratically elected leader, Mohammad Mossadegh, and installed a CIA groomed dictator.

What was once considered a conspiracy theory is now a fact as the government has since admitted to carrying out Operation Ajax that was planned by the CIA in conjunction with MI6 in the UK to exploit the Iranian people and steal their oil on behalf of the  Anglo-Iranian Oil Company (AIOC) – the British state-owned oil company established in 1908 with this objective in mind and the forerunner of today’s global oil conglomerate BP.

As TFTP reported last year, the State Department released a trove of documents that give insight into the CIA’s role in the 1953 coup d’état that led to the overthrow of Iranian Prime Minister Mohammad Mossadeq.

The newly declassified documents, titled “Foreign Relations of the United States, 1952-1954, Iran, 1951–1954,” provide a notable difference from the State Department’s 1989 version of the coup, which left out any involvement from American and British intelligence.

More…

 

Treasuries pulled back a bit today.

JB

Trump Complained About Fed’s Rate Hikes, Expected Powell To Be “Cheap-Money” Fed Chair
August 20, 2018

One month after Trump first ventured into territory few presidents have dared to go before, when he told CNBC in an interview that he was “not thrilled” about the Fed raising rates, and noted that the strong dollar is disadvantageous, moments ago Bloomberg reported that during a Hamptons fundraiser with wealthy Republican donors, Trump said he expected Jerome Powell to be a cheap-money Fed chairman and lamented that his nominee instead raised interest rates, according to three people present.

Bloomberg adds that about 60 people attended Trump’s fundraiser at the Southampton home of Howard Lorber, the chairman of hot dog company Nathan’s Famous. Guests included Chicago Cubs co-owner Todd Ricketts; John Catsimatidis Jr., the son of Red Apple Group Chairman John Catsimatidis; Republican National Committee Chairwoman Ronna Romney McDaniel; Commerce Secretary Wilbur Ross; Treasury Secretary Steven Mnuchin; White House Chief of Staff John Kelly; and senior White House aides Jared Kushner and Dan Scavino.

Trump held a discussion with a small group and then made remarks to a larger group over a dinner of salad with chicken in a tent in Lorber’s yard. It was a humid night and Trump joked that Lorber could have afforded better air conditioning, according to one of the people.

While Trump has publicly complained about the central bank’s recent rate increases – most recently to CNBC in mid-July -his private remarks to donors are the most personal criticism of Powell’s performance to emerge so far according to Bloomberg.

Despite Trump’s recurring complaints, the Fed continues on its course to further tighten policy; with core CPI now running at a “hot” 2.4% and set to increase as a result of tariff-induced price increases, it may have to hike more than the market expects.

The dollar wobbled following the Bloomberg report, sliding to session lows…

More…

 

I Love Judicial Watch Pt 2.

JB