Posts Categorized: Jim’s Mailbox

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Bill/Jim,

Deep State is all about removing your vote and your rights.

JB.

Wait a minute, people used to call us whack job conspiracy theorists whenever we used the term “deep state”…you mean we were right and the deep state actually does exist?

Bill

“Thank God For The Deep State”: Intel Agents Admit They Want To “Take Out” Trump
November 1, 2019

Authored by Steve Watson via Summit News,

“These are people who are doing their duty or responding to a higher call.”

 

 

 

 

 

 

 

 

 

Two former intelligence heads bragged about how the deep state is engaged in a coup to remove President Trump Thursday, with one even praising God for the existence of the deep state.

During an interview with Margaret Brennan of CSPAN, former CIA head John McLaughlin along with his successor John Brennan both basically admitted that there is a secretive cabal of people within US intelligence who are trying to ‘take Trump out’.

“Thank God for the ‘Deep State,’” McLaughlin crowed as liberals in the crowd cheered.

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Jim/Bill,

Boiling cauldron of Fiat spreading everywhere.

JB

We Now Have Mass Public Unrest In France, Spain, Algeria, Iraq, Lebanon, Egypt, Hong Kong, Venezuela, Chile, Ecuador And Bolivia
October 28, 2019

Submitted by Michael Every of Rabobank

Ages and Ages of Rage

Monday morning and we here we go again for another “dramatic week”. There are going to be monthly PMIs to look at in particular: will we see any further deterioration, or will growth start to pick up as an early Christmas present? And there are of course rate meetings for the Fed, and the BOJ, and the BOC: the former will cut, with the real issue being if they will signal more soon or not given they are already deep in Repo Madness; and will the giant BOJ wake up from slumber like a giant Kaiju and start throwing markets into turmoil again? 

Plus there is the Brexit circus. Will the EU grant the UK an extension until end-January 2020, or a more flexible date, or will France veto that and insist on a very short extension? Almost certainly they will insist that the newly reopened Withdrawal Agreement is this time firmly shut – so if the British Parliament then decides to merrily reopen it from its end and unilaterally start ramming amendments into it, it will not be doing so with EU approval. As such, and just as pertinently, will PM BoJo get his December election or not? The greater likelihood is not, as Labour appears to be desperate for an election – just not now – although the Lib Dems may be prepared to allow one given they see this as a way to prevent any further movement towards Brexit in the short term. (Though what do they think the election campaign will be about? The price of cheese?) Note that the latest opinion poll for the Observer has the Tories on 40% (+3 on the week), Labour unchanged on 24%, and the Lib Dems on 15% (-1), with the Brexit Party on 10% (-2).

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Jim/Bill,

A listener, Kevin, has sent this in for us with hopes that we can talk about this next Saturday.

Dave

Wag The Dog – The New COMEX And SGE Gold Contracts
October 25, 2019

Last week, in a move which went largely unnoticed, the US and Chinese gold markets moved one step closer to lockstep, when the CME group, home of the gold derivatives market and the world’s largest physical gold exchange, simultaneously and jointly launched a series of gold futures products in what they pitched as cross-market cooperation.

On the US side, CME has launched two cash-settled ‘Shanghai Gold futures‘, based on the SGE’s daily Shanghai Gold Benchmark Price, one denominated in US dollars and the other denominated in offshore Chinese renminbi (CNH). Both of these contracts are listed on the COMEX. On the Chinese side, the SGE has launched a T + N (margin) 100 gram contract denominated in renmimbi (RMB) that’s based on the CME’s COMEX Gold Futures Asia Spot Price. The SGE calls this the NYAuTN contract.

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Jim/Bill,

Who could have seen this coming?

Dave

Meet WeWork’s Epic Cash Black Hole: 36% Of Shanghai Locations Are Vacant
October 26, 2019

The whole WeWork scheme is unraveling in realtime, and a new Financial Times (FT) report shows the epicenter of the implosion is in China.

The Chinese subsidiary of WeWork, valued at $5 billion in 2018, could be headed to zero in the quarters ahead. Why?

Well, sources have told FT that WeWork locations in China have been severely underperforming, to the extent that occupancy levels are absolutely disturbing.

    “WeWork locations in Shanghai, where it has installed 43,600 desks, had a vacancy rate of 35.7% in October. In Shenzhen, where the company has 8,000 desks, 65.3% were vacant, while 22.1% of the group’s 8,900 desks in Hong Kong sat unfilled. The company was also expanding in central China, with multiple offices in Xi’an. There, it suffered a vacancy rate of 78.5%.”

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Jim/Bill,

As Mr Griffin pointed out, the military is a gift that keeps on giving.

Before joining the Department of Defense, Esper was vice president of government relations at Raytheon, a major U.S. defense contractor

Dave

As Secret Pentagon Spending Rises, Defense Firms Cash In
October 23, 2019

. . .

The boost in secret contracts has also shown up in big defense contractors’ recent annual reports. For example, Raytheon’s 2018 annual report touted “record classified bookings of nearly $7 billion” — up 46 percent in just a year and representing 19 percent of the company’s total revenues.

“These increases were largely driven by the need of our domestic customers to address advanced peer threats as outlined in both the National Defense Strategy and the Missile Defense Review,” the company said at the time. Raytheon remains well-aligned to both of these documents, which emphasize capabilities such as high-energy lasers, high-power microwaves, space, hypersonics and counter-hypersonics, next-generation sensors and cybersecurity.”

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Jim/Bill,

As Mr Griffin said, the military industrial complex just keeps on spending no matter what party is in office.

Dave

Pentagon Gives $10-Bn Deal To Microsoft After Funny Business
October 26, 2019

. . .

“At the president’s urging, Congress increased the military’s already-bloated budget, and Trump has sped up the process for approving arms deals,” reported Rolling Stone. The magazine quoted Raytheon CEO Thomas Kennedy’s assessment last year that “It’s the best time that we’ve ever seen for the defense industry.”

So why was Esper – determined, as he had shown, not to give up the Raytheon trough while he’s in government service – suddenly so sensitive on Wednesday about the appearance of a lesser conflict that others might have to squint to see.

After all, the company Esper’s son Luke works for is IBM, which was beaten out early in the JEDI competition along with Oracle.

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…of course they did JB!!!!?

Bill

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

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

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

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

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

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

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

JB

…and care they will JB!

Bill

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

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

 

 

 

 

 

 

 

 

 

 

 

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

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

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Jim/Bill,

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

Dave

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

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

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

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

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Jim/Bill,

John Whitehead makes some good points.

Dave

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

. . .

There is no difference between psychopaths and politicians.

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

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

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

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

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

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Bill/Jim,

An article worth reading carefully and reflecting upon it.

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

CIGA Robert

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

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

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

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

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

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