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After the chaos of the last few hours, climaxing in the House passing a resolution - largely along party lines - condemning Trump for suggesting that four progressive freshman congresswomen of color "go back" to their countries, Rep. Al Green (D-Texas) introduced, for the third time in two years, articles of impeachment against President Trump.
The Texas congressman, who notified Democratic leaders of his decision on Tuesday, said the House must impeach Trump for racist remarks.
"What do you do when the leader of the free world is a racist? What do you do? Well, here's what you do. You file a resolution condemning the president for racist comments directed at members of Congress. What do you do? You file Articles of Impeachment,” Green said.
"These two things are not mutually exclusive, we can do this — condemn for the comments who have been made — and we can do this, impeach for the harm that the comments have done."
While this is Green's third attempt to impeach the president, it is the first time since Democrats took control of the House.
"I think that we should not have this level of bigotry emanating from the president of the United States of America," Green said in an interview with The Washington Post.
"He is clearly making racist comments... The question becomes: What do we do about it?"
"To tolerate bigotry - racism in this case - is to perpetuate it. We should not perpetuate this kind of behavior coming from the president, and if we don't check him, he will continue."
As The Washington Post reports, Green's move will force House Democrats to deal with the issue in the near term because of the privileged nature of the resolution.
Under House rules, Democratic leadership can decide to try to table the impeachment articles, effectively killing them for now and risk criticism from the party's liberal base; refer them to the House Judiciary Committee for possible consideration; or allow the vote to proceed.
If leaders do nothing, Green can force a vote on the impeachment articles in two legislative days.
The move comes as more than 80 members of the House have called for launching an impeachment inquiry, but the floor vote will also force all House Democrats to go on the record about an issue where they have yet to reach consensus.
However, as NBC News notes, some Democratic leaders have resisted impeachment, fearing that it would distract from the party's policy agenda, could rally Trump's base, isn't popular with the public and is doomed to fail in the Republican-controlled Senate.
Zimbabwe is once again facing rampant inflation, a rate of almost 100 percent recorded in the month of May.
I felt the need to investigate its macros. As usual, the graphs are based on info from tradingeconomcis. An important development is that last month, the Government removed the legal tender status of foreign currencies and made the new Zimbabwean Dollar [RTGS] the sole legal tender.
The country dropped its national currency back in 2009, and replaced it with a multi [foreign] currency system in efforts to combat hyperinflation at the time. The recent reverse measure, taken by Emmerson Mnangagwa’s administration, comes in response to dire commodity shortages across the country. Mnangagwa replaced Robert Mugabe as president two years ago in a coup. However, without sufficient US dollars to pay for imports, the country’s fuel stations have frequently run out and gasoline prices more than doubled between the months of January and April.
Fuel going up, coupled with the currency’s depreciation, made the cost of food, transportation, and housing utilities to soar. Due to the lack of confidence, as expected, more and more vendors set prices in US dollars.
In a milestone deal with the IMF last month, the Government agreed to cease net money creation [deficit spending] in order to pay its bills, which was a root cause of the sudden hyperinflation. The IMF is monitoring economic reforms for a year under a mutually agreed program. Debt relief was promised at the end of this year, provided the Government respects the deal. Companies are meant to trade RTGS dollars on an official market, but there were few takers. Analysts said that the Government’s gamble to force greater adoption of the RTGS might very well backfire, pushing transactions in foreign currencies underground.
With all these developments in mind, let’s see Zimbabwe’s flow of funds, and later on we’ll look at other indicators. The country has been a net exporter of Aggregate Demand and a net importer of goods for ten years straight. The Domestic Private sector [composed of domestic firms and households] has been going severely into debt for those same ten years. Only in the last two years was it able to net save financial assets, when the Government seriously expanded fiscal deficit spending.
We also see how the country’s money supply shot up, especially in 2018 and 2019. The M2 measurement [which includes cash and checking deposits + savings deposits, money market securities, mutual funds, and other time deposits] reached an all time high of 10.55 billion US dollars last March.
The unemployment figure has remained stable throughout years, but I don’t put much faith in the accuracy of this data, simply because of how the State defines being unemployed. For example, people like subsistence farmers, who consume all of their own output, are categorized as employed. And more to the point, the graph below is based on the “strict unemployed” definition [one who has been without work, is available for work and is actively seeking work]. The broader definition doesn’t require the latter condition.
Those working in the grey [informal] economy include people who do unpaid labor for a family business or paid employees who are not entitled to sick leave or paid holidays. In Zimbabwe, there are a great many who work in these circumstances. If we count as employed those workers on a payroll with taxes deducted at source and pension coverage, then the unemployment estimate is huge.
On to trade. South Africa owns the largest share of Zimbabwe’s exports. In my opinion, the country is far too dependent on its southern neighbor for commerce, and South Africa’s socio-political stability looks bleak these days. It would be better to seek out markets in different countries, in order to minimize risk and better handle potential negative demand shocks [for Zimbabwean exports] and negative supply shocks [for Zimbabwean imports].
The graph below shows Zimbabwe’s exports by countries of destination.
The graph below shows Zimbabwe’s imports by countries of source.
It’s safe to say that strategic bilateral relations cannot be formed, so long as Zimbabwe’s political class doesn’t compromise on a certain vector the country needs to maintain long term. Foreign investors [state and private agents] won’t be willing to come in, if they believe their investments will be at risk at the next election cycle, or if the chances for political instability and social upheaval are high. In recent years, Russia has been paying more attention to Africa, the northern states in particular, investing mostly in oil rigs and nuclear power plant deals. That’s one potential partner state with which the Mnangagwa administration should seek to do business.
Going back to Zimbabwe’s main trade partner, South Africa… that country is experiencing serious problems in rising criminality, and Ramaphosa’s land reform [confiscation without compensation] is bound to fail. In South Africa, since 1994, 21 percent of farms were put into Black African ownership. But more than 80 percent of those farms failed to remain economically active. If you ask Black farmers the reason for that miserable success rate, they blame the Government, and that’s absolutely true. That’s how you know it was a simulation of reform and not a legit effort behind it; because a singular reform, in and of itself, can’t be successful when everything else remains the same. In order to be a commercial success, an agribusiness requires access to infrastructure, to financial and physical capital, crop insurance, skilled labor, competent management, and access to markets capable of absorbing its output at a price which covers operation costs plus the markup.
South Africa [and Zimbabwe] needs a holistic approach to its national problems, and that means a combination of measures. Changing ownership doesn’t fix anything. The goal should be to decommodify land, which can be done via nationalization or [my personal preference] through site value taxation. Complementary measures should include: community land trusts, community banking, a national infrastructure investment plan, a national health care and education service, a national trade strategy, and last but not least, asset-side reform of the financial sector.
Reducing bureaucracy should be a priority as well. Currently, Zimbabwe is ranked 155th in 190 countries in the category of ‘ease of doing business.’ The more complex the laws and regulations are, the more wasteful and corrupt the system is. The State-dirigist method and Single Tax philosophy don’t require more time spent between citizen and bureaucrat, quite the opposite!
After Mugabe’s land reform, Zimbabwe isn’t out of the woods, and its population is growing too.
Using the printing press without any regard to budgetary rules, without any clear goal in mind, will only make the situation worse. The Zimbabwean Dollar [RTGS], in order to appreciate in value, requires a combination of tighter supply and higher demand for it. The Government’s specialists need to determine the country’s potential output vis-a-vis actual output and adjust fiscal policy in consequence. A negative output gap occurs when actual output is less than what the economy can produce at full capacity – while a positive output gap is the reverse and is inflationary.
The Government should aim for a near zero fiscal deficit; should temporarily ban the importation of luxury items, at least for a few years if not several years; should prioritize the importation of vital commodities – fuel, water, pharmaceuticals, grain, milk, and the like. The Central Bank should be ordered to run permanent zero interest rate policy. Reduced interest payments into the economy means a smaller supply of Zimbabwean currency. And the Government should only accept RTGS in payment of its exports, and it should only guarantee bank deposits denominated in RTGS. This combo would be sufficient to halt inflation, bring price stability and political confidence in state institutions and fuel hope for a better tomorrow.
The saga of the UAE "mystery" tanker which seems to have disappeared after its transponder went dark late Saturday night, and which no one has heard from since it drifted toward Iranian waters in the Strait of Hormuz over the weekend, has deepened after Iran contradicted US media reports of IRGC involvement.
The semi-official news agency ISNA said hours after initial reports on Tuesday suggested Iran's military "forced" the vessel into Iranian waters that Iranian navy vessels actually came to the assistance of the disabled foreign oil tanker. The statement indicated the vessel was partially disabled and in desperate need of repairs.
"(Spokesman) Abbas Mousavi said... that an international oil tanker was in trouble due to a technical fault in the Persian Gulf... After receiving a request for assistance, Iranian forces approached it and used a tugboat to pull it toward Iranian waters for the necessary repairs to be carried out," ISNA said, as cited by Reuters.
Tracking data shows an oil tanker based in the United Arab Emirates traveling through the Strait of Hormuz drifted off into Iranian waters and stopped transmitting its location over two days ago, raising concerns Tuesday about its status amid heightened tensions between Iran and the U.S.
The report detailed that the Riah, a 58-meter oil tanker which operates frequently in the region, switched off its transponder for the first time in three months after 11pm on Saturday, based on tracking data.
As of Monday "red flags" were raised as US officials began inquiring of the Riah's status. CNN's Pentagon correspondent Barbarra Starr had this to say based on intelligence sources: "US intel increasingly believes UAE tanker MT RIAH forced into Iranian waters over the weekend by
#IRGC naval forces. UAE isn't talking."
Summarizing the statements of anonymous US intelligence and defense officials, the Jerusalem Post reported:
US officials believe that the Panama flagged tanker M/I RIAH was seized by the Iranian Revolutionary Guard on Saturday night, when it was crossing the Strait of Hormuz in international waters. Information from the US intelligence agency indicated that the IRGC troops forced the tanker to enter Iranian territorial waters before withdrawing the vessel to Iran's Qeshm Island.
#UPDATE: This is the last known position of the UAE (Panama flagged) oil products tanker in Iranian waters near Iran’s Qeshm island 44 hours ago. CNN’s @barbarastarrcnn reports US intel belives IRGC Navy may have forced the vessel into Iranian waters, no contact with crew. pic.twitter.com/GRHTt6bzi9— ELINT News (@ELINTNews) July 15, 2019
However, this could be another case of hawkish US intelligence and defense officials hyping a false threat. Starr continued based on her source: "Some Gulf sources say ship simply broke down/towed by Iran. US says though no contact with crew. Last location Qesham Island."
Following the UK's controversial and aggressive move to seize a tanker carrying 2 million barrels of Iranian oil of Gibraltar earlier this month, Tehran's military has threatened to in turn intercept UK vessels.
This also comes after repeat pledges over the past year by Iran's leaders following a US sanctions campaign that if Iran is blocked from exporting its oil out of the gulf then no country would be able to traverse the vital oil shipping lanes either.
The question remains: is this yet another knee-jerk attempt of US officials to immediately "blame Iran" in order to ramp up pressure? Could the "missing" UAE vessel just be the result of an accident or being disabled at sea?
How many times have you seen a gun control debate in which someone chimes in, “Nobody needs an AR-15. What are you going to do, hunt deer with it?” It’s been a busy year for gun control advocates, passing draconian law after draconian law.
Sometimes it’s part of a heartfelt essay, like this, which is just another essay where a man bloviates about his views on high-velocity weapons.
There is no place for high-velocity weaponry in the hands of the citizenry. No number of lengthy oratories by National Rifle Association leadership and pandering politicians will ever justify the deaths this nation has already endured. “Every Marine a Rifleman” is an adage for Marines, not for civilians. We are no longer under the oppressive rule of a foreign king, and it is folly to think that by keeping civilians from such weapons that we risk our republic. We risk nothing more than offending the bloated gun lobby in Washington. But by doing nothing, we continue to risk our children’s lives. (source)
The author of that piece feels that since a pistol isn’t a match for an AR-15, nobody but police and military should be allowed to have one.
But that’s exactly why we should be able to own guns like AR-15s.
A disabled gentleman in Summerfield, Florida demonstrated exactly why one needs an AR-15 last Wednesday when he handily dealt with four home invaders who thought he was a soft target.
Deputies got the call at 8:21 p.m. Wednesday and went to the home at 14999 SE 32nd Court Road in response to a report of shots fired.
Sgt. Micah Moore found Doyle with a gunshot wound and a shotgun next to him on the ground. Deputies entered the home and found Jackson dead on the dining room floor. Detectives said he was wearing a “Jason” mask on top of his head, gloves on both hands, jeans and a black shirt.
Near Jackson’s head was a semi-automatic pistol, detectives said.
Continuing into the home, deputies found the 61-year-old homeowner in a bedroom.
He had an AR-15 rifle on his legs and was bleeding from a gunshot wound to the stomach, according to sheriff’s officials. Doyle and the homeowner were transported to Ocala Regional Medical Center, where Doyle died.
Deputies continued to search the area.
Deputy Austin Coon and K-9 Deputy Alberto Gago, with his dog Nitro, found Rodriguez and Hamilton in the 15000 block of Southeast 36th Avenue, according to arrest reports. Rodriguez was hiding in tall grass on the side of the road.
He was wearing sweat pants and a purple shirt. Hamilton was wearing all black clothing.
Deputies said the men were sweating. (source)
I’ll bet they were sweating when they discovered how outmatched they were. Here’s what went down. Police have opted not to name the brave homeowner.
The homeowner told Detective Travis O’Cull that, about an hour before the shooting, a male who he barely remembers from a past Craigslist transaction, knocked on the front door, according to sheriff’s officials.
The homeowner said he did not open the door but saw the male peering through a back sliding-glass door. He said he asked the male what he was doing and was told he needed help with his vehicle.
The homeowner said he told the individual he was disabled and couldn’t help him. That person then left and [the] homeowner went to sleep.
The homeowner told the detective he was awakened by a loud noise and grabbed his AR-15, which was near his bed. He saw a masked person inside the home, he said, and he and the intruders exchanged gunfire. He said he shot at the man in the mask and at a second person coming toward him.
The homeowner said it was Jackson who shot him. (source)
If ever there was a case for being ready to defend one’s home, this is it.
The other two suspects were interviewed and then placed under arrest.
Two of the four of the suspects have criminal records. Local police say that the homeowner faces no charges and that he’s done nothing to prevent him from owning guns. He is in stable condition, recovering at the hospital.
Here are the mug shots of the alleged home invaders.
Are you prepared to defend YOUR home?
I’ve written before about why preppers need guns, but it’s important to note that you need guns in good times too if you intend to defend yourself. This story is a perfect example of why. There’s no ongoing disaster or SHTF event happening in Summerfield, Florida. It was just an ordinary night in July…until 4 people allegedly decided to invade an innocent man’s home.
If the homeowner had not had greater firepower, this story probably would have had a very different ending. Imagine taking on 4 armed home invaders with a Glock.
And this, ladies and gentlemen, is why people actually do need AR-15s. We must be prepared to defend our homes and our families because when you need the police in seconds, they’re only minutes away.
Turkish President Recep Tayyip Erdogan celebrated the delivery of the first S-400 anti-air missiles on Tuesday, even going so far as to suggest that Turkey and Russia (the system is made by Russian defense contractor Almaz-Almaty) might collaborate on building weapons. But across the Atlantic, President Trump was less than amused.
Washington has repeatedly insisted that if Turkey bought the S-400 over a steeply discounted Patriot missile system, that the US would block the sale of Lockheed Martin's F-35 fighter jets - and unprecedented punishment for a NATO member. And as it turns out, that's exactly what President Trump is planning to do.
During a Cabinet meeting on Tuesday, Trump said "we are now telling Turkey...we're not going to sell you the F-35 fighter jets."
Trump added: "It’s a very tough situation that they’re in. And it’s a very tough situation that we’ve been placed in the United States," Trump said. "With all of that being said, we’re working through it. We’ll see what happens, but it’s not really fair."
But Trump was mum on a more pressing issue: Whether Washington will subject Ankara to sanctions under the Countering America’s Adversaries Through Sanctions Act, or CAATSA. While Erdogan has suggested that Trump would find a way to avoid the sanctions, last year, Congress set a high bar for waiving sanctions under CAATSA.
And what's more, if Washington doesn't make an example of Ankara, it could have a full-blown mutiny on its hands, as New Delhi is also eyeing the S-400.
Trump isn't the only senior US official talking tough about the S-400. During his Senate Armed Services Committee confirmation hearing, Esper said that he has told his Turkish counterpart that "you can either have the S-400 or the F-35, you cannot have both."
But who knows? Maybe one one-on-one phone call between Erdogan and Trump will resolve everything.
Update (1900ET): Despite the chaos earlier in the day, the House voted on Tuesday to formally admonish President Trump over his "racist" tweets targeting four progressive Democratic congresswomen.
The 240-187 vote fell largely along partisan lines, as GOP leaders had rushed to the president’s defense in whipping against the measure.
Just four Republicans broke with party ranks to join every voting Democrat, revealing the extent to which Trump’s incendiary remarks had jarred Capitol Hill and forced even some of his closest allies to denounce his behavior. Six Republicans missed the vote. -The Hill
Unsurprisingly, Rep. Justin Amash (I-MI) who recently abandoned the GOP platform over Trump, backed the resolution.
House Speaker Nancy Pelosi (D-CA) was briefly banned from speaking on the House floor on Tuesday after she made disparaging comments about President Trump's 'racist' behavior, sparking chaos in the chamber.
GOP lawmakers fumed after Pelosi slammed Trump as "xenophobic" for a Sunday tweet in which he told progressive Democrats to "go back" and "fix the totally broken and crime infested places from which they came."
"How shameful to hear him continue to defend those offensive words, words that we have all heard him repeat, not only about our members, but about countless others," said Pelosi, adding ""There is no place anywhere for the president's words, which are not only divisive but dangerous, and have legitimized and increased fear and hatred of new Americans and people of color."
In response to Pelosi's comments, Rep. Doug Collins (R-GA) claimed that her remarks violated House rules forbidding personal attacks against the president or lawmakers.
After Collins asked Pelosi if she would like to rephrase her comments, Pelosi said she had cleared them with the parliamentarian in advance.
“I would like to make a point of order that the gentlewoman's words are unparliamentary and ask they be taken down,” Collins said.
House Majority Leader Steny Hoyer, a Democrat, said "The words used by the gentlewoman from California contained an accusation of racist behavior on the part of the President," adding "The words should not be used in debate.
Hoyer's comments technically banned Pelosi from speaking on the House floor for the rest of the day, while the debate over Pelosi's comments caused the House to come to a standstill as lawmakers debated what to do next.
Rep. Cleaver dramatically 'abandoned the chair' and dropped the gavel on the dais while the situation unfolded.
Rep. Cleaver: "We don't ever, ever want to pass up, it seems, an opportunity to escalate, and that's what this is. I dare anybody to look at any of the footage and see if there was any unfairness. But unfairness is not enough, because we want to just fight. I abandon the chair." pic.twitter.com/pvfJL54kw1— NBC News (@NBCNews) July 16, 2019
Ultimately, Pelosi's comments were allowed to stand after a motion to strike her comments failed 190-232. Every Republican voted in favor of the motion.
It’s not news that China and Russia have been buying gold by the hundreds of tonnes. It’s not news that Russia divested itself of most of its U.S. Treasury holdings last year in response to Donald Trump’s sanctions on Rusal, upsetting the global Aluminum market.
Russia has led the charge on central bank gold buying, having increased its official holdings from 400.3 tonnes in Q1 of 2007 to 2168.3 tonnes as of the end of Q1 2019. That’s a 442% increase in gold reserves.
China, on the other hand, has only in the past couple of years joined Russia’s party of announcing its gold buying on a monthly basis. Previously, China would simply drop a 500-600 tonne bomb on the markets and see what would shake out of it.
Now, few people who follow this stuff believe China’s government only owns 1916.3 tonnes of gold. Estimates range from 4000 to 6000 tonnes. Like Russia, very little of China’s domestic production of gold (404 tonnes in 2018) leaves China and makes its way into the global market.
It is mostly absorbed by the Chinese population via purchases off the Shanghai Gold Exchange (SGE). And the PBoC itself uses Chinese banks as proxies to buy its gold overseas from the U.K., Singapore and Switzerland.
Russia’s gold buying consumes most, and sometimes all, of Russia’s domestic production (297 tonnes in 2017). The same is true for Kazakhstan (68.4 tonnes) and a few other countries.
It’s easy when looking at these trends to see that something big may be on the horizon, that gold is on the verge of being re-monetized and a major shakeup to the world financial system is imminent.
That the multi-polar world is here. It’s not, but it’s coming.
The boys at The Duran had a fascinating (if a bit forward-looking) video recently where they discuss the situation brewing between the U.S. and China.
The basic thesis is that the U.S. and China are headed for a mostly amicable divorce of their economies, a disentangling as it were. And that that would then allow for the emergence of the so-called multi-polar world that both Russian President Vladimir Putin and Chinese Premier Xi Jinping are working towards.
On this point I don’t disagree. It’s a strong point Alex Mercouris makes here that the U.S. and China have acknowledged their growing contention in the global economy but that there is no need for a completely antagonistic relationship.
The U.S. doesn’t have to extend the unipolar moment into infinity to ‘win’ this ‘war’ with China. That is globalist thinking, maximalism to the extreme.
The U.S. and China can, strategically, disengage from each other while cultivating different paths for their futures. And this is the essence of the phrase ‘multi-polar.’ If that is Trump’s vision on this that is an improvement over the globalist Davos Crowd perspective so entrenched in Europe, which brooks no dissent from its Borg-like behavior.
It’s neither optimal nor likely but it sets a tone that will shift the future outcomes in the right direction. To do this Trump has to win re-election and be successful in confronting the Swamp via Jeffrey Epstein like I believe he’s doing.
However, and this is the bigger point coming back to gold, I do think Russia and China setting up their part of the multi-polar world based on a gold standard similar to Bretton-Woods is not workable.
There are a number of reasons for this but the main one is that Bretton-Woods never worked in the first place. The discipline of the reserve currency nation, the U.S., was never in observed. We violated the terms of the $35/ounce gold peg immediately.
First, by selling off the greatest hoard of silver ever amassed and then by simply printing the money during the Johnson and Nixon Administrations. It is insane to think that Russia and/or China will for any length of time exhibit any real fiscal discipline that would allow for a Bretton-Woods-style currency regime to work.
This is libertarian critique 101, folks. Just because the U.S. can’t keep its hand out of the cookie jar, doesn’t mean Russia post-Putin will. And the less said about the Chinese shadow banking bubble the better.
Moreover, the U.S. and the EU still have their gold reserves. Even if some or all of it has been lent out to suppress the price at times. I don’t believe that’s been the case since China opened up the Shanghai Gold Exchange and Russia began accumulating in earnest.
That would have put explosive upward pressure on the price of gold as thousands of tonnes would have had to be sourced to settle those positions. Instead, the U.S. and the EU were likely allowed to unwind any short positions over time which allowed years of annual production to flow east.
And this is the fundamental problem of a government-backed gold standard. It will not ever last. Governments create market interventions which have to be paid for via money printing or debt. And both of those things belie the discipline of the gold standard.
There is an infinite gap between the intention of China and Russia to build a multi-polar global financial system between East and West and the re-emergence of a gold-backed currency regime.
Because, for a moment, let’s get real about who owns what gold.
On the West side of the world we have the U.S., EU, BIS, the IMF and the Gulf states.
On the other side we have the central banks in the Russia/China orbit who are currently accumulating gold or are becoming independent actors on the world stage. It’s a bigger list than in the past twenty years, but that list is still small (The BRI Bloc (as defined by me herein) consists of the following countries: Russia, China, India, Iran, Iraq, Turkey, Qatar, Belarus, Uzbekistan, Tajikistan, Kyrgyzstan, Kazakhstan, Thailand, Malaysia, Serbia and Brazil).
Going through World Gold Council numbers for Q1 2019 we get the following numbers. Just over 7000 tonnes of gold for what I’m calling Eastern BRI Bloc, those countries that are both accumulating gold in their reserves and are important partners in China’s Belt and Road Initiative (BRI). It’s impressive that they have added more than 3000 tonnes over the past six-plus years.
Total Belt + Road Bloc Gold Holdings Still Dwarfed by U.S. Reserves.
However, that’s still less than the U.S.’s 8133.5 tonnes let alone the more than 10,000 tonnes that make up the reserves of the European Union countries and doesn’t include the 2814 tonnes owned by the IMF, the 504 tonnes owned by the ECB itself or the 102 tonnes owned by the Bank of International Settlements.
For any discussion of this bloc challenging the reserve status of the U.S. and European systems, There would have to be at least another 6000 tonnes available between China and Russia that are not on their official books to even being to make that argument look realistic.
Let’s use M1 money supply figures for a proxy of what gold backing would look like, just to get a lay of the land.
For all of the talk of the U.S.’s imminent bankruptcy, the gold reserves at current prices make up 9.6% of M1 at current prices ($1415/oz). China’s official gold reserves make up just 1.0% of M1. Even if you believe the upper end of China’s estimated real gold holdings it’s still only 3.3% of M1.
If you count the estimated 16,000 tonnes held privately in China and that was convertible into currency that would still only get China up to 12.2% backing of M1 with gold.
Russia is the closest there is to a gold-backed currency there is. The ruble by that metric (M1) 84.0% backed by Russia’s official gold reserves.
That is an eye-popping number and it tells you that the Russians have very prudently saved over the past fifteen years or so. They have built what we Austrian economists like to call a ‘pool of real savings’ to lever into higher order investments.
Russia is now ready to deploy a significant part of its trade surplus and even some of its pool of real savings to build new and needed infrastructure for Russia. Putin mentioned in his annual 4-hour direct line that he was ready to begin spending some of Russia’s oil revenues, drifting away from neoliberal and monetarist Alexei Kudrin and towards the nationalist/Keynesian Sergei Glazyev.
Given the state of Russia’s finances and a 10+ billion per month trade surplus, this is a no-brainer really. It’s their down-payment on the multi-polar world.
And it marks a specific shift in attitude which will assist China in building out Belt and Road but it will do nothing to allow for a return to any kind of gold standard until China gets its financial house in order.
To sum up, what killed Bretton-Woods was the same thing that killed the British pound post-WWI, a refusal to price gold accurately by the governments printing the money. Britain could have kept the gold standard and more of its empire had it re-valued the pound to reflect the money supply in 1918.
It didn’t and it destroyed the British post-war economy. The same thing is happening now. And the U.S. will either have to allow the world’s assets to plunge by 50-90% or allow the price of gold to rise to reflect the amount of money in circulation.
Given the numbers I just laid out that should give you an idea of just how much higher gold has to go to balance the books of the world. And no one in power, other than the Russians, are prepared for that kind of event.
Because until that happens there is no incentive for gold to circulate as money, or the discipline of the gold standard to be observed.
What China is doing, like Russia and the rest of the BRI Bloc, is they are building gold reserves to build the confidence of the world for the day when trust in the Western system fails. By having significant gold ‘backing’ but without convertibility those countries today adding to their rainy day funds will be the places capital will flow towards to avoid the whirlwind.
That is when the multi-polar world can be inaugurated.
* * *
When it comes to attempts to explain why the market just keeps rising, few case studies are more notable - or comical - than the in-house feud that appears to have developed between JPMorgan's "good cop", head quant, Marko Kolanovic, and JPMorgan's "bad cop" flow strategist, Nikolaos Panigirzoglou.
For the latest example of how two financial professionals can reach diametrically different conclusions, look no further than the latest note published by Kolanovic on Tuesday morning, in which the JPM strategist tries to justify the levitation of the S&P above 3,000 not in the framework of overly dovish global central banks (as that would make his job redundant - after all, just buy everything when central banks are injecting liquidity, and sell when they are draining it), but in terms of investor positioning, as in not enough of it.
Specifically, in explaining which way the market will trade now that it is above 3,000 Kolanovic writes that "over the past month, equity exposure increased" following "record low positioning in equities and other risky assets" earlier in the year when Kolanovic predicted that the S&P would hit 3,000: "In particular, the equity beta of all hedge funds increased to ~60th historical percentile." However, he notes, "equity long-short investors still have relatively low exposure, in their ~30th percentile, despite running high gross exposure."
This is problematic because as we wrote over the weekend, just last Friday, JPMorgan's other quant and fund flow strategist, Panigirtzoglou came to the opposite conclusion, writing that he finds "little support for the idea that there are prevalent equity underweights and “bears everywhere”. Focusing on the key equity long-short investor class, Panigirtzoglou wrote that "Long/Short hedge funds which represents the most important equity hedge fund universe produced a return of 3.2% in June according to HFR and 9.5% in H1, with the two largest L/S sub-categories fundamental growth and fundamental value returning 3.9% and 3.5% in June, respectively. This implies a beta at or higher than 0.5, which is the historical average relative to the MSCI AC World index. Equity Long/Short hedge funds would struggle to produce such returns if they were underweight equities."
Incidentally, the above observation was in the context of Panigirtzoglou's forecast that there is only roughly 8% of S&P upside, suggesting" limited upside for equities from here even if the 1995/1998 insurance-rate-cuts scenario plays out over the coming months" and, worse, "any equity upside would become even more limited if bond markets fail to sustain their H1 gains."
Amusingly, just hours after Panagirtzoglou wrote down those words, JPM completely ignored its in house "bad cop" and as if to rub salt in the wounds of bears and skeptics, upgraded its 12 month price target to 3,200.
And while the recently uberbullish Kolanovic is quick to temper his optimism, noting that "given that the S&P 500 returned over 20% in 6 months, 3,200 in 12 months implies quite a bit lower rate of returns", the quant instead brings attention to what he calls an "unprecedented divergence" between various market segments, which "offers a once in a decade opportunity to position for convergence."
So what is this unmissable opportunity Kolanovic refes to?
As he explains, there has emerged "a record divergence between value/cyclical stocks on one side, and low volatility/ defensive stocks on the other side" with "the level of divergence much more significant even when compared to the dot com bubble valuations of late ’90s." The valuation difference (in forward P/E turns) between value and the broad market, as well as between value stocks and low volatility stocks, is shown below.
One can claim that this divergence is entirely the result of central banks taking over the market, injecting trillions in the global economy and stocks, thereby crushing all value propositions, while the destruction of volatility by central banks whether direct or indirect, has made low vol stocks spectacular winners.
As Kolanovic adds, while there is a secular trend of value becoming cheaper and low volatility stocks becoming more expensive due to secular decline in yields, "the nearly vertical move the last few months is not sustainable", and "the bubble of low volatility stocks vs value stocks is now more significant than any relative valuation bubble the equity market experienced in modern history."
So what could catalyze such a convergence of low volatility/defensives and value/cyclical stocks? According to Kolanovic, several possible triggers are:
- Stabilization of economic numbers (e.g. recent US retail sales, China IP, etc.),
- progress in the trade war,
- the Fed cutting short term rates and related yield curve steepening would help.
That said, given the extreme divergence, the JPM quant thinks that as little as hedge funds increasing net and decreasing gross exposure during the summer rally could trigger this rotation. Hedge Funds’ net is low due to the high level of shorts, most of which come from cyclical and high volatility stocks.
This could, in turn, trigger a chain reaction of short covering, fundamental flows, and equity long-short quant rebalances in a low liquidity environment. This rotation would push significantly higher all the laggards such as small caps, oil and gas, materials, and more broadly stocks with low P/E and P/B ratios.
Whether Kolanovic is right remains to be seen - after all countless traders have bet the house on value outperforming "any minute", only to get carted out feet first. We are, however, delighted regardless, as the "old" Kolanovic, the one who looked for - and found - unique arbitrage opportunities and dislocations in the market, appears to be making a tentative return and whose presence will be far more valuable and greatly appreciated compared to his current stock bubble-chasing 'at all costs' successor.
President Donald Trump’s playground taunt Sunday that “the Squad” of four new radical liberal House Democrats, all women of color, should “go back and help fix the totally broken and crime-infested places from which they came,” dominated Monday morning’s headlines.
Yet those headlines smothered the deeper story.
The Democrats are today using language to describe their own leaders that is similar to the language of the 1960s radicals who denounced Democratic segregationist governors like Ross Barnett and George Wallace.
Consider what the four women have been saying.
Alexandria Ocasio-Cortez has accused Speaker Nancy Pelosi of attacking “newly elected women of color.” Was she calling Pelosi a “racist”?
“No!” protested AOC. But it sure sounded like it.
AOC’s chief of staff Saikat Chakrabarti attacked Native American Rep. Sharice Davids for her vote on a Pelosi-backed bill that sent $4.6 billion in aid to the border but lacked the restrictions on Trump policies progressives had demanded.
Chakrabarti described Davids’ vote as “showing her … enable a racist system,” adding that some Democrats “seem hell bent to do to black and brown people what the old Southern Democrats did in the ’40s.”
The House Democratic Caucus ripped Chakrabarti, “Who is this guy and why is he explicitly singling out a Native American woman of color?”
At a Netroots Nation conference this weekend, African American Rep. Ayanna Pressley declared: “We don’t need any more brown faces that don’t want to be a brown voice. … We don’t need any more black faces that don’t want to be a black voice.”
This comes close to calling members of the Black Caucus “Uncle Toms.”
Monday, the president doubled down, tweeting:
“We all know that AOC and this crowd are a bunch of Communists, they hate Israel, they hate our own Country, they’re calling the guards along our Border (the Border Patrol Agents) Concentration Camp Guards, they accuse people who support Israel as doing it for the Benjamin’s”
The “Benjamins” recalls the accusation of Somali-born Ilhan Omar of Minnesota that the Israel Lobby buys the votes of members of Congress.
“It’s all about the Benjamins baby.”
Rashida Tlaib of Michigan is the other congresswoman in Trump’s sights. Together, the four have achieved a prominence that almost exceeds that of Majority Leader Steny Hoyer or Majority Whip James Clyburn.
The four — AOC, Tlaib, Pressley, Omar — have no clout in the Democratic caucus. But because of the confrontations they have caused and the controversy they have created, they have a massive media following.
Paradoxically, their interests in winning cheers as the fighting arm of the Democratic Party coincide with the interests of Donald Trump. He entertains and energizes his base by answering in kind their attacks on him and by adopting incendiary rhetoric of his own. He is now assuming the old “America! Love it or Leave it!” stance in going after the four women as anti-American ingrates.
They, by calling Trump a criminal, racist and fascist for whom impeachment proceedings should have begun months ago, elate and energize the outraged left of their party.
Among the presidential candidates, some have begun to side with the four, with Bernie Sanders saying Pelosi has been “a little” too tough on them.
On “Meet the Press,” Bernie added: “You cannot ignore the young people of this country who are passionate about economic and racial and social and environmental justice. You’ve got to bring them in, not alienate them.”
Trump’s Sunday attack forced Pelosi to stand with her severest critics, and she re-elevated the race issue with this tweet: “When Trump tells four American Congresswomen to go back to their countries, he reaffirms his plan to ‘Make America Great Again’ has always been about making America white again.”
Do Democrats believe that refighting the racial battles of the 1960s that were thought to have been resolved is a winning hand in 2020?
Does Pelosi think that demeaning white America is going to rally white or minority Americans to Democratic banners?
The race issue had already arisen in the first debate when Sen. Kamala Harris called out front-runner Joe Biden for befriending segregationist Senate colleagues in the ’70s and ’80s, and for colluding with them to block court-ordered busing to achieve racial balance in the public schools.
Observing the clash between Trump and these women, the rank and file of the Democratic Party are being forced to take sides. Many will inevitably side with the fighters, as Democratic moderates appear timid and tepid.
Trump is driving a wedge right through the Democratic Party, between its moderate and militant wings. With his attacks over the last 48 hours, Trump has signaled whom he prefers as his opponent in 2020. It is not Biden; it is “the Squad.”
Sunday, Pelosi recited again her mantra, “Diversity is our strength; unity is our power.” It sounded less like a proclamation than a plea.
We see the diversity. Where is the unity?
A NATO-affiliated body accidentally published a document which revealed the locations of US nuclear weapons throughout Europe, according to the Washington Post. The document was subsequently deleted and replaced with a final version of the report which omits where US bombs are stored.
A version of the document, titled “A new era for nuclear deterrence? Modernisation, arms control and allied nuclear forces,” was published in April. Written by a Canadian senator for the Defense and Security Committee of the NATO Parliamentary Assembly, the report assessed the future of the organization’s nuclear deterrence policy.
But what would make news months later is a passing reference that appeared to reveal the location of roughly 150 U.S. nuclear weapons being stored in Europe. -Washington Post
A copy of the document was published Tuesday by Belgian newspaper De Morgen, which reads "These bombs are stored at six US and European bases — Kleine Brogel in Belgium, Büchel in Germany, Aviano and Ghedi-Torre in Italy, Volkel in The Netherlands, and Incirlik in Turkey."
As a matter of practice, neither the US nor its European partners disucss the location of America's nuclear weapons on the continent.
"We do not comment on the details of NATO’s nuclear posture," said a NATO official cited by the Post, who added "This is not an official NATO document."
A number of European outlets, however, viewed the report as confirmation of an open secret. “Finally in black and white: There are American nuclear weapons in Belgium,” ran the report in De Morgen. “NATO reveals the Netherlands’s worst-kept secret,” said Dutch broadcaster RTL News.
The presence of U.S. nuclear weapons in Europe was indeed “no surprise,” Kingston Reif, director for disarmament and threat-reduction policy at the Arms Control Association, said in an email. “This has long been fairly open knowledge.” -Washington Post
And while there has never been an official disclosure of this nature regarding the US stockpiles, a diplomatic cable from a US ambassador to Germany revealed concerns over how long the weapons would be stored.
"A withdrawal of nuclear weapons from Germany and perhaps from Belgium and the Netherlands could make it very difficult politically for Turkey to maintain its own stockpile," reads the November 2009 memo written by then-US Ambassador Philip Murphy.
As the Post notes, the placement of US weapons around Europe stems from an agreement reached during the 1960s, designed as both a Cold War deterrent to the Soviet Union, as well as to convince European nations that they don't need to develop their own nuclear weapons programs.
But times have changed. In 2016, after a coup attempt and the rapid spread of the Islamic State extremist group next door, analysts openly wondered whether Turkey was really such a great place to store nuclear weapons.
"The military mission for which these weapons were originally intended — stopping a Soviet invasion of Western Europe because of inferior U.S. and NATO conventional forces — no longer exists," according to Reif.
NFA News Releases
Elite Forex Blog - Market Research & Analysis
Just because something is ‘different’ doesn’t make it ‘better’ – just because something is not mainstream doesn’t make it ‘honest.’ We all here agree that mainstream investing sucks, but do we use the same rational methodology when evaluating alternatives? Crypto has proven this is not the case. Investors lost their minds and did all the things they have been told not to do over the years.
Two Years In, Binance Shows No Signs of Slowing Down
Extending Fiat-to-Crypto On-ramping
Long-Awaited Margin Trading
Could the Latest Binance News Buck the Markets?
In keeping with their spectacular reputation of violating privacy and rigging elections, Facebook has said that it removed "hundreds of accounts" from Facebook and Instagram that were used to influence elections in Africa, according to CNN. Only it wasn't Russia who was behind this latest intervention, but Israel.
- From CNBC June 2019:
- Passive investments control about 60% of the equity assets, while quantitative funds -- those relying on trend-following models instead of fundamental research -- now account for 20% of the market share, according to estimates from J.P. Morgan.
- Passive funds have attracted $39 billion of inflows so far this year, whereas active funds lost a whopping $90 billion in 2019, the bank said.
“This is a country that produced an atom bomb under the stress of wartime in three years from the day we decided to do it,” he told a congressional panel last year.“This is a country that can do anything we need to do that physics allows. We just need to get on with it.”
LITTLE TIME FOR DECISION-MAKING
“This is not the first case of a new technology proceeding through research, development and deployment far faster than the policy apparatus can keep up,” says Countryman, who is now chairman of the Arms Control Association.
“It is possible,” the United Nations Office of Disarmament Affairs said in a February report, that “in response [to] the deployment of hypersonic weapons,” nations fearing the destruction of their retaliatory-strike capability might either decide to use nuclear weapons under a wider set of conditions or simply place “nuclear forces on higher alert levels” as a matter of routine. The report lamented that these “ramifications remain largely unexamined and almost wholly undiscussed.”
ACCELERATING KEY TESTS
NO DEFENSE IS AVAILABLE NOW
A WORLD FILLED WITH HYPERSONICS
“We always do these things in isolation, without thinking about what it means for the big powers — for Russia and China — who are batshit paranoid” about a potential quick, pre-emptive American attack, the adviser said, expressing regret about how the issue was handled during Obama’s tenure.
“No doubt I was in the right place at the right time. Building costs were under $10 a square foot and monthly shell rents were 10 cents or less per month. Today we have the same land selling for over $100 a square foot, building costs of $300 or more per square foot.”
“The only thing that can keep these companies from growing is not having places to put employees,” Arvay said.
Arrillaga and Peery sold a 5.3 million-square-foot portfolio, reportedly about half their holdings at the time, for more than $1 billion in 2006, ahead of the financial crisis. Their double act is still going strong. In addition to the Mountain View deal with Google—which also involved two other properties—they are building an office complex in San Jose where the search company has agreed to lease 729,000 square feet.Both Sobrato and his son John Michael Sobrato, who led Sobrato Organization from 1997 to 2013, have stepped away from day-to-day operations. But the family still owns the entire company, which is increasingly investing in residential units. It now has more than 6,500 apartments on the West Coast, in addition to 7.5 million square feet of Silicon Valley office space, according to its website. The family’s wealth has almost doubled in the past five years to about $8 billion, according to the Bloomberg index.
The alternative investment industry is expected to grow by 59 percent by 2023, reaching $14 trillion in assets in five years’ time, according to new research from alternative investment industry data provider Preqin. The industry managed $8.8 trillion as of the end of 2017, according to Preqin, which says growth will be driven by investors’ need for yield, alternative assets’ strong track record, and a declining number of publicly traded companies. The report, published online Friday, is based on surveys with 300 fund managers and more than 120 institutional investors completed by Preqin in June. The data show that investors plan to increase their allocations to three major categories in the next five years: 79 percent said they would increase their private equity allocation, 70 percent plan to boost allocations to infrastructure, and 62 percent plan to increase allocations to private debt.
“Consider a turkey that is fed every day, Every single feeding will firm up the bird’s belief that it is the general rule of life to be fed every day by friendly members of the human race ‘looking out for its best interests,’ as a politician would say. On the afternoon of the Wednesday before Thanksgiving, something unexpected will happen to the turkey. It will incur a revision of belief.”
What happened in 1984 Major News Stories include Indria Ghandi assassinated, DNA profiling developed, Virgin Atlantic Starts Operations, Grand Hotel Brighton Bombing, Union Carbide Pesticide plant in Bhopal India leaks lethal gas, McDonalds Restaurant Shooting Leaves 20 dead. The Aids Virus is identified it is not the worldwide problem it is today. Following on from the PC Apple releases the Macintosh computer. Following the Widespread Famine in Ethiopia many of the top British and Irish USSR pop musicians join together under the Name Band Aid and record the song “Do They Know It’s Christmas”. Following the boycott by the US of the Moscow Olympics the soviet block boycotts the Los Angeles Olympic games. Recession continues to be a problem in the US and 70 US Banks fail in just one year.
The Human Genome Project was a 15-year-long, publicly funded project initiated in 1990 with the objective of determining the DNA sequence of the entire euchromatic human genome within 15 years. In May 1985, Robert Sinsheimer organized a workshop to discuss sequencing the human genome, but for a number of reasons the NIH was uninterested in pursuing the proposal. The following March, the Santa Fe Workshop was organized by Charles DeLisi and David Smith of theDepartment of Energy’s Office of Health and Environmental Research (OHER). At the same time Renato Dulbecco proposed whole genome sequencing in an essay in Science. James Watson followed two months later with a workshop held at the Cold Spring Harbor Laboratory. In 1990, the two major funding agencies, DOE and NIH, developed a memorandum of understanding in order to coordinate plans and set the clock for the initiation of the Project to 1990. At that time, David Galas was Director of the renamed “Office of Biological and Environmental Research” in the U.S. Department of Energy’s Office of Science and James Watson headed the NIH Genome Program. In 1993, Aristides Patrinos succeeded Galas and Francis Collins succeeded James Watson, assuming the role of overall Project Head as Director of the U.S. National Institutes of Health (NIH) National Center for Human Genome Research (which would later become the National Human Genome Research Institute). A working draft of the genome was announced in 2000 and the papers describing it were published in February 2001. A more complete draft was published in 2003, and genome “finishing” work continued for more than a decade.
Dr Watson’s remarks “in full”. Dr Watson told The Sunday Times that he was “inherently gloomy about the prospect of Africa” because “all our social policies are based on the fact that their intelligence is the same as ours – whereas all the testing says not really”. He said there was a natural desire that all human beings should be equal but “people who have to deal with black employees find this not true”. …
At a conference in 2000, Watson suggested a link between skin color and sex drive, hypothesizing that dark-skinned people have stronger libidos. His lecture argued that extracts of melanin – which gives skin its color – had been found to boost subjects’ sex drive. “That’s why you have Latin lovers,” he said, according to people who attended the lecture. “You’ve never heard of an English lover. Only an English Patient.” He has also said that stereotypes associated with racial and ethnic groups have a genetic basis: Jews being intelligent, Chinese being intelligent but not creative because of selection for conformity, and Indians being servile.
In United States law, the Bradley Amendment 1986, Public law 99-509 42 U.S.C. § 666(a)(9)(c). Requirement of statutorily prescribed procedures to improve effectiveness of child support enforcement. Bill Bradley requires state courts to prohibit retroactive reduction of child support obligations. Specifically, it:
- automatically triggers a non-expiring lien whenever child support becomes past-due.
- overrides any state’s statute of limitations.
- disallows any judicial discretion, even from bankruptcy judges.
- requires that the payment amounts be maintained without regard for the physical capability of the person owing child support (the obligor) to promptly document changed circumstances or regard for his awareness of the need to make the notification.But, like any other past-due debt, the obligee may forgive what is owed to them.When past-due child support is owed to a state as a result of welfare paid out, the state is free to forgive some or all of it under what’s known as an “offer in compromise”. The state and government agencies are non-profit organizations. … Bobby Sherrill, a Lockheed employee in Kuwait from North Carolina, was captured by Iraqis and spent nearly five months as an Iraqi hostage. Sherrill was arrested the night after his release for not paying $1,425 in child support while he was a hostage.
Consequences for Non-Payment of Child Support: Because child support is essentially a court order, a non-custodial parent who is not making these payments will be found in contempt of court. They are informed of the contempt charge in writing and ordered to appear in court. If the parent does not appear, a bench warrant for their arrest will be issued. Even if the parent does appear, they may still be sent to jail if they cannot provide adequate proof that they could not make the child support payments, rather than simply being unwilling to do so.
In the late 1990s, Andre Chreky already was a star hairstylist with his own salon. But he reached new heights after he was profiled in Washingtonian magazine and it became known that his clients included first lady Laura Bush. Soon after, Chreky said, a former receptionist began showing up at his shop on K Street NW, demanding money.“You have a child,” the woman, Adele Doudaklian, 43, of Gaithersburg, told him — a teenage son he had never met. He ordered her out. Doudaklian did not return phone calls to her home. Chreky said he dated her several times in the early 1980s but stopped long before Doudaklian’s son, Andrew Lucas, was born in March 1986. When the paternity action was brought in early 2003, Chreky said, he thought the DNA test would end the whole episode. Instead, Chreky was ordered to pay $1,715 a month in child support, plus health insurance premiums, after LabCorp’s report said he was the father. By the time Lucas turned 18, Chreky had paid $25,000. (Even after he won the case, Virginia law did not allow him to get the money back.) Chreky pleaded his case to the Virginia Division of Child Support Enforcement and then in an appeal to Fairfax Juvenile and Domestic Relations Court. But LabCorp’s “99.99 percent” finding was too tough to overcome. In fact, under Virginia law, 98 percent is automatic proof of paternity. This spring, his case landed in Fairfax County Circuit Court in a full-blown trial. Douglas S. Levy, one of Chreky’s attorneys, said Chreky offered to take another DNA test before his trial. But the state rejected the offer, he said. So Chreky’s attorneys hammered LabCorp’s experts, mostly about what the lawyers saw as two errors on the lab report. The director of LabCorp’s DNA identification testing division, Gary M. Stuhlmiller, said in a sworn report that he had arrived at his conclusions after comparing Chreky’s DNA with a database of the Moroccan population. Chreky is a native of Morocco. But at trial, Stuhlmiller acknowledged that LabCorp did not have a Moroccan database. Chreky is no scientist. He said he just knew that this was something he needed to fight. Most people don’t have the means to contest a “99.99 percent” finding. His wife, Serena, said the couple spent more than $200,000 to fight the case.
The connection between these 2 events
The National DNA Index (NDIS) contains over 13,674,427 offender1 profiles, 3,435,350 arrestee profiles and 915,052 forensic profiles as of January 2019. Ultimately, the success of the CODIS program will be measured by the crimes it helps to solve. CODIS’s primary metric, the “Investigation Aided,” tracks the number of criminal investigations where CODIS has added value to the investigative process. As of January 2019, CODIS has produced over 451,781 hits assisting in more than 440,381 investigations.
“The science-fiction future, in which police can swiftly identify robbers and murderers from discarded soda cans and cigarette butts, has arrived. In 2017, President Trump signed into law the Rapid DNA Act, which, starting this year, will enable approved police booking stations in several states to connect their Rapid DNA machines to Codis, the national DNA database. Genetic fingerprinting is set to become as routine as the old-fashioned kind.”
“As police agencies build out their local DNA databases, they are collecting DNA not only from people who have been charged with major crimes but also, increasingly, from people who are merely deemed suspicious, permanently linking their genetic identities to criminal databases.”
Global Conspiracy (Business Plan) to enslave you via your DNA
- Accused by a stranger of being the father of a child that’s not yours .. OR
- Being randomly accused of a crime that you didn’t commit.. OR
- A political ‘soft’ assassination such as was tried with Julian Assange and Brett Kavanaugh