Financial sources feeds
The constitutional crisis in Spain may be coming to a head quickly according to a leaked document on a “Secret Law for Catalonia Independence” as reported by El Pais.
Spain’s Attorney General José Manuel Maza is set to examine the legality of a plan outlined by the regional government of Catalonia to activate immediate secession from Spain if the central government in Madrid stops it from holding a vote on independence – something it is planning on doing in September or October of this year.
The independence mechanism is detailed in a secret draft version of legislation being prepared by the Generalitat, the Catalan regional government, and to which EL PAÍS has had access.
The document aims to work as a provisional Catalan Constitution that, according to the text, would be in place during the two-month period that the parliament would have to begin a process that would culminate in the “parliamentary republic” of Catalonia.
“If the Spanish state effectively impedes the holding of a referendum, this law will enter into effect in a complete and immediate manner when the [regional] parliament has verified such an impediment,” the draft legislation reads.
The document has a section that covers the referendum itself and features the question that would be asked of voters: “Do you want Catalonia to be a state that is independent from Spain?” The intention in the text is that this part of the legislation would come into effect first in order to be able to hold the referendum, and indicates that a majority of votes in favor, no matter how slim, and with no minimum participation level, would ratify the decision and mean that it was binding.
The text makes a number of references to itself as being a “founding law,” and goes into exhaustive details – albeit with many legal loopholes and unknowns – about the breakaway: i.e. who would be a Catalan citizen, how it would be possible to obtain nationality, which Spanish laws would remain in force and which would not, what would happen to government workers currently employed by the state, among other details.
The authors of the text ignore legal and material elements that have enormous importance and complexity, such as the whether this new republic would continue to form part of Europe, or whether social benefits or pensions would be guaranteed, or whether all taxation – and fines for non-payment – would be the responsibility of the regional government.
Under the reasoning of the authors of the text, none of these issues would infringe the law because, as the second article reads, “national sovereignty resides with the people of Catalonia, from whom all powers of the State emanate.”
The Catalonia independence threat is smack on top of a Spanish government crisis in which Mariano Rajoy has threatened to dissolve parliament and call snap elections if his budget does not pass.
The surprise results of Socialist Party (PSOE) leadership election on Sunday, in which Pedro Sánchez returned to power, makes it very likely Rajoy will not get his budget passed. For details, please see Voters Smack Spain’s Political Leadership: Snap Spanish Presidential Elections Coming Up?
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As a reminder, Catalonia is not alone...
In what bitcoin geeks undoubtedly interpreted as a sign of bitcoin’s renewed relevance now that its price is at all-time highs, Fidelity CEO Abigail Johnson told CoinDesk’s Consensus conference that her company is now in the business of mining bitcoin.
“Ms Johnson noted that Fidelity has also set up a bank of computers built by 21 Inc that can crunch complex algorithms to be rewarded with bitcoin.
“My…computer has mined over 200,000 satoshis,” she said, using the name for the smallest unit of bitcoin.
Her remarks coincide with an astounding rally in virtual currencies like bitcoin. As DoubleLine’s Jeffrey Gundlach noted on Tuesday, bitcoin is up 100% in under two months, implying that the turmoil in Chinese markets was driving more locals into bitcoin.
One coin was trading at $2,275 Tuesday according to Coinbase, the latest in a series of all-time highs as global uncertainty rises...
Johnson also added that Fidelity now allows employee to pay for lunch with bitcoin at the cafeteria in its Boston headquarters. She noted that fewer than 100 employees have paid with bitcoin, demonstrating an unnatural-sounding mastery of industry slang.
“I guess we have a lot of hodlers,” she said, using the slang for bitcoin users who avoid selling the currency when it jumps in value.
And Fidelity's CEO also revealed information about her company's partners on its journey, naming blockchain startup Axoni, investment firm Boost VC and university initiatives based out of MIT, University College London and Cornell. To date, Johnson explained that Fidelity Labs, its internal R&D division has also set up experiments for bitcoin micropayments and even run bitcoin and ethereum mining operations in the spirit of learning more about the technology. Further, she revealed that Fidelity will be taking some conservative steps to expose Fidelity's customers more to the industry, announcing that customers will soon be able to see Coinbase holdings on Fidelity.com. Already, she said, this feature is available to employees who own digital currencies available through the startup's services.
Enes Kanter is a Turkish citizen who plays center for the NBA’s Oklahoma City Thunder.
Like many professional athletes, Kanter has a couple of charities in his name.
His education fund provides first-year college scholarships to support selected US students – including a family’s first female child and children of law enforcement and firefighters who lost their lives on duty.
Kanter’s other charity is the Light Foundation. This one has an international bent, providing meals and clothes to needy families.
A global tour with the Light Foundation stirred up Friday’s troubles.
After traveling to a few countries, Kanter and his team flew from Indonesia to Romania. But upon landing in Romania, Kanter found his passport cancelled by the Turkish embassy.
Kanter’s crime? His political views.
Enes Kanter has long been a vocal critic of Turkey’s president, Recep Erdogan, calling him the Hitler of our century.
Although not a Hitler, Erdogan is far from an angel.
In July 2016 when facing a coup, he ordered his forces to open fire on his own people, killing 270. He had another 50,000 arrested.
Last month in the country’s constitutional referendum, Erdogan consolidated greater power by the slimmest majority – 51% of the votes, if the vote count is to be believed.
With that victory, Erdogan has near dictatorial powers, which is why he was able to unilaterally suspend Kanter’s passport.
Last week, I wrote about Venezuela. There, government-sanctioned snipers scan the streets. Its starving, desperate citizens are trapped inside the country’s borders with no way out.
To Europeans and Americans, Turkey’s crackdown and Venezuela’s hell on earth are a world away from their comfortable lives.
But in the West, symptoms of government overreach that adversely impact its citizens’ futures are everywhere.
The war on cash continues unabated.
Near-zero interest rates return nothing on retirees’ life savings.
Easy credit ensures that any entrepreneur with a bozo idea receives funding. And it fuels both our insane stock market valuations and consumer debt to all-time highs.
US regulators crank out 150, 200, sometimes 300+ pages daily.
And then there’s the ballooning national debts of the Eurozone and the US.
It would be foolish to place all your faith and confidence in only one such government.
Enes Kanter’s experience with Turkey is the latest example. It shows how susceptible citizens are to an out of control government, even when traveling beyond its borders.
Whether locked inside borders like Venezuelans or locked out of travel like Kanter, these cases highlight the importance of having a Plan B.
A savings account in a well-capitalized foreign jurisdiction, investments outside the ridiculously valued stock market (e.g. Peer to Peer lending backed by real collateral), a second residence and yes, a second passport…these are steps to ensure that no matter what, you’ll be okay.
You’re not going to be worse off because you’re holding a significant amount of, say, Hong Kong dollars.
You’re not going to curse the fact that you receive steady and safe investment returns.
And you’re not going to worry about your ability to freely travel around the world.
Oh, and if what happened to Kanter seems impossible, consider this:
On December 30, 2015 when no one was looking, the US government passed H.R. 22 (The FAST Act), which authorizes them to revoke your passport if they believe, in their sole discretion, that you owe $50,000 in taxes.
It’s important to note that they don’t actually have to prove any wrongdoing.
They can make a simple allegation. It could even be a clerical error. Then, poof, no more passport.
It’s important to have a hedge against this to ensure that your entire life and livelihood isn’t held in the hands of a single government.
At first glance, it’s easy to be impressed by Elon Musk’s impressive resume. He’s shooting for the stars with SpaceX, changing the future of transportation with Tesla, Hyperloop, and The Boring Company, and he’s already had a profound impact on the e-commerce and payments sectors through Paypal. It’s no coincidence that most of these are $1 billion+ companies. But, as Visual Capitalist's Jeff Desjardins notes, focusing only on his successes provides a superficial view of the man. To get the full perspective on his career, it is much more interesting to look at the failures and lows he has experienced. These are the moments when most people would have likely given up.
As every entrepreneur knows, any business venture can be upended by failures at any moment – and it is how one bounces back from those failures that counts. Today’s infographic from Kickresume shows Musk’s struggles and failures throughout his career, and how he persevered to become a modern business icon.
As the ever-quotable Winston Churchill once said:
Success is not final, failure is not fatal: it is the courage to continue that counts. – Winston Churchill
After being ousted out of his own company, having many rockets go bust, and fighting to keep Tesla and SpaceX from going bankrupt, Musk kept pushing forward with courage.
WHAT WE CAN LEARN
Entrepreneurs hold people like Steve Jobs, Elon Musk, and Richard Branson in high reverence. Sometimes, we even put them on a pedestal, thinking we could only dream of making such a profound impact on the world. However, this is obviously a one dimensional view. These figures are not superhuman, and the reality is that they’ve all experienced tragic failures throughout the course of their careers. They’ve been disheartened, but they bounced back. We have to recognize that success in business isn’t what it appears to be on magazine covers and headlines. Failure is an everyday part of doing business, and it plagues almost every entrepreneur in some shape or form. The difference is in how you react to it.
...and of course, it helps to be on the right side of government handouts too...
The American public is most likely unaware of the giant stranglehold Saudi Arabia has on the U.S. government. Saudi Arabia uses its vast riches to manipulate the U.N., which explains how a country that brutally oppresses its female population was recently gifted a seat on the organization’s women’s rights commission. The Islamic Kingdom also wields incredible control over international media and has arguably had an increasingly unwelcome position of power in America’s foreign policy decision-making. As such, Donald Trump’s political career, in part, rests on appeasing his Saudi Arabian counterparts.
And appeasing the Saudis is exactly what Trump has done. Trump’s speech regarding Islam was delivered to the leaders of 55 Muslim-majority nations, including Saudi Arabia. However, he conveniently ignored the troves of evidence that show Saudi Arabia directly sponsors the terror groups al-Qaeda and ISIS – two groups the U.S. claims to be at war with — as well as the fact that Saudi Arabia has been directly implicated in the 9/11 terror attacks. Instead, Donald Trump framed the entire issue of radicalization as a problem that rests with Iran. As he stated in Riyadh:
“But no discussion of stamping out this threat would be complete without mentioning the government that gives terrorists all three—safe harbor, financial backing, and the social standing needed for recruitment. It is a regime that is responsible for so much instability in the region. I am speaking of course of Iran. From Lebanon to Iraq to Yemen, Iran funds, arms, and trains terrorists, militias, and other extremist groups that spread destruction and chaos across the region. For decades, Iran has fueled the fires of sectarian conflict and terror.”
It is a government that speaks openly of mass murder, vowing the destruction of Israel, death to America, and ruin for many leaders and nations in this room.”
Iran’s prime enemies are actually Sunni-dominated terror groups such as al-Qaeda and ISIS. The Islamic Republic and its proxies have been heavily engaged in fighting these terror groups in Syria. If eradicating terrorism was a priority for the United States and Saudi Arabia, Iran would be a natural ally considering Iran almost all but defeated ISIS in Iraq.
Yet, Trump continued:
"Among Iran’s most tragic and destabilizing interventions have been in Syria. Bolstered by Iran, Assad has committed unspeakable crimes, and the United States has taken firm action in response to the use of banned chemical weapons by the Assad regime—launching 59 tomahawk missiles at the Syrian air base from where that murderous attack originated.”
While many analysts may focus on how Trump has gone from the most Islamophobic president ever elected to now omitting the words “radical Islamic terrorism” from his speech on Islam, these analysts continue to gloss over the fact that the entire speech appears to have been a geopolitical gesture to please Saudi Arabia and its allies. As the Iranian Foreign Ministry noted, Trump is no longer concerned with Islamophobia but what Iran has coined as “Iranophobia.”
Iran is Saudi Arabia’s regional archrival. The two countries are fighting an enormous proxy war in Syria because Saudi Arabia views an Iranian-aligned government as a threat to its economic interests. Saudi Arabia is also currently bombing Yemen into oblivion as fears of a Shi’a led government capable of aligning itself with Tehran became a probable reality in 2015.
Most hypocritical, however, was the following statement:
“Until the Iranian regime is willing to be a partner for peace, all nations of conscience must work together to isolate Iran, deny it funding for terrorism, and pray for the day when the Iranian people have the just and righteous government they deserve.”
Even establishment outlets such as the BBC could not allow this statement to go unchecked. The BBC stated:
“And amongst several cynical reactions to the speech from around the region on social media, some have pointed out that here in Saudi Arabia women are forbidden to drive and there are no parliamentary elections. In Iran, the country accused by Mr Trump of being behind much of the current terrorism across the Middle East, they have just had a free election and women are free to drive.” [emphasis added]
Iran’s recent elections saw one of the heaviest turnouts in the country’s history, much higher than that of the United States. It is technically one of the most democratic countries in the region. While Iran would not be considered greatly democratic by Western standards, this is a testament to how undemocratic Iran’s rivals in the region are, including Saudi Arabia. Even prisoners were allowed to vote in Iran, something so-called democratic countries such as New Zealand disallow.
Despite all of this “Iranophobic” sentiment, it is also worth noting that Iran’s alleged nuclear program is rarely discussed in the international arena anymore. This is because the Trump administration is well aware that the Iranian nuclear deal reached in 2015 is working – and there is no current nuclear threat from Iran. In this context, the U.S. government has to look for alternative modes of hyping up an Iranian threat to justify a massive arms deal.
And yet, spearheaded by Trump, the Arab world has just announced a new military pact that will directly confront Iran. Called the “Riyadh Declaration,” the pact was signed by representatives from 55 Islamic nations that have vowed “to combat terrorism in all its forms, address its intellectual roots, dry up its sources of funding and to take all necessary measures to prevent and combat terrorist crimes in close cooperation among their states.”
How can a coalition, led by Saudi Arabia, combat terrorism and extremism when Saudi Arabia’s Wahhabist philosophy is responsible for most of today’s terrorism-related problems? As noted by the Independent:
“The state systematically transmits its sick form of Islam across the globe, instigates and funds hatreds, while crushing human freedoms and aspiration…The jaw simply drops. Saudi Arabia executes one person every two days…Raif Badawi, a blogger who dared to call for democracy, was sentenced to 10 years and 1,000 lashes. Last week, 769 faithful Muslim believers were killed in Mecca where they had gone on the Hajj. Initially, the rulers said it was ‘God’s will’ and then they blamed the dead.”
The military pact will also include an “Islamic Military Coalition,” which will “provide a reserve force of 34,000 troops to support operations against terrorist organizations when needed.”
The original text of the document was heavily infatuated with Iran but has since been amended. The original text also said these troops would be deployed to Syria and Iraq “when needed,” which is — again — clearly aimed at countering Iranian influence as Iran is heavily tied to both countries. Saudi Arabia has already expressed its intention to send troops into Syria multiple times before, with the exclusive goal of ensuring that “liberated areas [do] not fall under the control of Hizballah, Iran or the regime.”
The United States, Britain, and associated forces are creeping into Syria as we speak, directly paving the way for an all-out confrontation with Syrian troops in al-Tanf. Just last week, the U.S. military bombed these troops, even though they are directly backed by Iran (and most likely Russia, too).
This is no secret to the mainstream media. The Washington Post just released an article hours ago entitled “How Trump could deal a blow to Iran — and help save Syria,” with the conclusion that the battle for al-Tanf is “a fight that the United States cannot and should not avoid.” Dealing a strategic blow to Iran and Syria will only empower ISIS given that they are the most heavily engaged entities fighting the terror groups in Syria.
The Trump administration’s seeds are being sown in tandem with the corporate media. Trump’s speech had nothing to do with radical Islam. It was written by Stephen Miller, the “architect” of Donald Trump’s travel ban (a policy that also vehemently targeted Iran, among other countries).
Selling a war with Iran to the American public may be difficult considering the Islamic nation twice elected a reformist who is open to making diplomatic deals with the United States. However, selling a war that will take place inside Syria is somewhat less problematic, even if that war is against the Syrian government, as the American public is easily manipulated by Assad’s alleged war crimes. As Iran is Syria’s closest ally, it will be easily drawn into a confrontation.
If Saudi Arabia’s coalition of anti-Iranian Muslim nations illegally joins this battle arena, the resulting war will be catastrophic.
Cybersecurity researchers at Symantec say they've found linkes between the WannaCry Ransomware attackers was likely carried out by a hacking group with ties to North Korea.
In a blog post, Symantec said the “Tools and infrastructure used in the WannaCry ransomware attacks have strong links to Lazarus, the group that was responsible for the destructive attacks on Sony Pictures and the theft of $81 million from the Bangladesh Central Bank.”
- Following the first WannaCry attack in February, three pieces of malware linked to Lazarus were discovered on the victim’s network: Trojan.Volgmer and two variants of Backdoor.Destover, the disk-wiping tool used in the Sony Pictures attacks.
- Trojan.Alphanc, which was used to spread WannaCry in the March and April attacks, is a modified version of Backdoor.Duuzer, which has previously been linked to Lazarus.
- Trojan.Bravonc used the same IP addresses for command and control as Backdoor.Duuzer and Backdoor.Destover, both of which have been linked to Lazarus.
- Backdoor.Bravonc has similar code obfuscation as WannaCry and Infostealer.Fakepude (which has been linked to Lazarus).
- There is shared code between WannaCry and Backdoor.Contopee, which has previously been linked to Lazarus.
Symantec discovered that the WannaCry attackers used some of the same hacking tools that were previousky used in other Lazarus Group attacks. There are also, the group reported, “a number of links between WannaCry itself and Lazarus.”
The WannaCry ransomware, for example, shares some code with a piece of malware that has previously been linked to Lazarus.
Symantec also found that the WannaCry attackers used some of the same network infrastructure as the Lazarus Group. “There are a number of crossovers seen in the C&C servers used in the WannaCry campaigns and by other known Lazarus tools.”
Beginning a week ago Friday, the WannaCry virus infected thousands of computers around the world, threatening to destroy users' data unless a ransom was paid in bitcoin. Ultimately, the group received less than $100,000, and most of the data were destroyed.
No doubt about it.
The coup d’etat has been successful.
The Deep State - a.k.a. the police state, a.k.a. the military industrial complex - has taken over.
The American system of representative government has been overthrown by a profit-driven, militaristic corporate state bent on total control and global domination through the imposition of martial law here at home and by fomenting wars abroad.
When in doubt, follow the money trail.
It always points the way.
Every successive president starting with Franklin D. Roosevelt has been bought—lock, stock and barrel—and made to dance to the tune of the Deep State.
Enter Donald Trump, the candidate who swore to drain the swamp in Washington DC.
Instead of putting an end to the corruption, however, Trump has paved the way for lobbyists, corporations, the military industrial complex, and the Deep State to feast on the carcass of the dying American republic.
Just recently, for instance, Trump agreed to sell Saudi Arabia more than $110 billion in military weapons.
Meanwhile, Trump—purportedly in an effort to balance the budget in 10 years—wants to slash government funding for programs for the poor, ranging from health care and food stamps to student loans and disability payments.
The military doesn’t have to worry about tightening its belt, however. No, the military’s budget—with its trillion dollar wars, its $125 billion in administrative waste, and its contractor-driven price gouging that hits the American taxpayer where it hurts the most—will continue to grow, thanks to Trump.
This is how you keep the Deep State in power.
The rich will get richer, the poor will get poorer, the military will get more militaristic, America’s endless wars will get more endless, and the prospect of peace will grow ever dimmer.
As for the terrorists, they will keep on being played for pawns as long as Saudi Arabia remains their breeding ground and America remains the source of their weapons, training and know-how.
Follow the money. It always points the way.
As Bertram Gross noted in Friendly Fascism: The New Face of Power in America, “evil now wears a friendlier face than ever before in American history.”
Writing in 1980, Gross predicted a future in which he saw:
…a new despotism creeping slowly across America. Faceless oligarchs sit at command posts of a corporate-government complex that has been slowly evolving over many decades. In efforts to enlarge their own powers and privileges, they are willing to have others suffer the intended or unintended consequences of their institutional or personal greed. For Americans, these consequences include chronic inflation, recurring recession, open and hidden unemployment, the poisoning of air, water, soil and bodies, and, more important, the subversion of our constitution. More broadly, consequences include widespread intervention in international politics through economic manipulation, covert action, or military invasion...
We’ve been losing our freedoms so incrementally for so long—sold to us in the name of national security and global peace, maintained by way of martial law disguised as law and order, and enforced by a standing army of militarized police and a political elite determined to maintain their powers at all costs—that it’s hard to pinpoint exactly when it all started going downhill, but we’re certainly on that downward trajectory now, and things are moving fast.
The “government of the people, by the people, for the people” has perished.
America is a profitable business interest for a very select few, and war—wars waged abroad against shadowy enemies and wars waged at home against the American people—has become the Deep State’s primary means of income.
After all, war is big business.
In order to maintain a profit margin, one would either have to find new enemies abroad or focus on fighting a war at home, against the American people, and that’s exactly what we’re dealing with today.
- Wars waged abroad to the tune of trillions of dollars since 9/11.
- Military equipment sold to foreign enemies.
- Local police transformed into a standing army in the American homeland through millions of dollars’ worth of grants to local police agencies for military weapons, vehicles, training and assistance.
- The public acclimated to the sights and sounds of martial law through urban training exercises and domestic military training drills timed and formulated to coincide with or portend actual crises.
- The citizenry taught to fear and distrust each other and to welcome the trappings of the police state.
Had the government tried to ram such a state of affairs down our throats suddenly, it might have had a rebellion on its hands. Instead, the American people have been given the boiling frog treatment, immersed in water that slowly is heated up—degree by degree—so that they’ve fail to notice that they’re being trapped and cooked and killed.
“We the people” are in hot water now.
As I make clear in my book Battlefield America: The War on the American People, the Constitution doesn’t stand a chance against a federalized, globalized standing army protected by legislative, judicial and executive branches that are all on the same side, no matter what political views they subscribe to: suffice it to say, they are not on our side or the side of freedom.
From Clinton to Bush, then Obama and now Trump, it’s as if we’ve been caught in a time loop, forced to re-live the same thing over and over again: the same assaults on our freedoms, the same disregard for the rule of law, the same subservience to the Deep State, and the same corrupt, self-serving government that exists only to amass power, enrich its shareholders and ensure its continued domination.
The republic has fallen to fascism with a smile.
Elections will not save us.
Learn the treacherous lessons of 2008 and 2016: presidential elections have made a mockery of our constitutional system of government, suggesting that our votes can make a difference when, in fact, they merely serve to maintain the status quo.
Start now—in your own communities, in your schools, at your city council meetings, in newspaper editorials, at protests—by pushing back against laws that are unjust, police departments that overreach, politicians that don’t listen to their constituents, and a system of government that grows more tyrannical by the day.
If you wait until 2020 to rescue our republic from the clutches of the Deep State, it will be too late.
President Trump's fiscal 2018 budget proposal would completely eliminate 66 federal programs, for a savings of $26.7 billion.
As The Hill reports, some of the programs would receive funding for 2018 as part of a phasing-out plan.
Here are the programs the administration wants on the chopping block...
Agriculture Department — $855 million
- McGovern-Dole International Food for Education
- Business-Cooperative Service
- Rural Water and Waste Disposal Program Account
- Single Family Housing Direct Loans
Commerce Department — $633 million
- Economic Development Administration
- Manufacturing Extension Partnership
- Minority Business Development Agency
- National Oceanic and Atmospheric Administration Grants and Education
Education Department — $4.976 billion
- 21st Century Community Learning Centers
- Comprehensive Literacy Development Grants
- Federal Supplemental Educational Opportunity Grants
- Impact Aid Payments for Federal Property
- International Education
- Strengthening Institutions
- Student Support and Academic Enrichment Grants
- Supporting Effective Instruction State Grants
- Teacher Quality Partnership
Energy Department — $398 million
- Advanced Research Projects Agency—Energy
- Advanced Technology Vehicle Manufacturing Loan Program and Title 17 Innovative Technology Loan Guarantee Program
- Mixed Oxide Fuel Fabrication Facility
Health and Human Services — $4.834 billion
- Agency for Healthcare Research and Quality
- Community Services Block Grant
- Health Professions and Nursing Training Programs
- Low Income Home Energy Assistance Program
Homeland Security — $235 million
- Flood Hazard Mapping and Risk Analysis Program
- Transportation Security Administration Law Enforcement Grants
Housing and Urban Development — $4.123 billion
- Choice Neighborhoods
- Community Development Block
- HOME Investment Partnerships Program
- Self-Help and Assisted Homeownership Opportunity Program Account
Interior Department — $122 million
- Abandoned Mine Land Grants
- Heritage Partnership Program
- National Wildlife Refuge Fund
Justice Department — $210 million
- State Criminal Alien Assistance Program
Labor Department — $527 million
- Migrant and Seasonal Farmworker Training
- OSHA Training Grants
- Senior Community Service Employment Program
State Department and USAID — $4.256 billion
- Development Assistance
Earmarked Appropriations for Non-Profit Organizations
- The Asia Foundation
- East-West Center
- P.L. 480 Title II Food Aid
State Department, USAID, and Treasury Department — $1.59 billion
- Green Climate Fund and Global Climate Change Initiative
Transportation Department — $499 million
- National Infrastructure Investments (TIGER)
Treasury Department — $43 million
Global Agriculture and Food Security Program
Environmental Protection Agency — $493 million
- Energy Star and Voluntary Climate Programs
- Geographic Programs
National Aeronautics and Space Administration — $269 million
- Five Earth Science Missions
- Office of Education
Other Independent Agencies — $2.683 billion
- Chemical Safety Board
- Corporation for National and Community Service
- Corporation for Public Broadcasting
- Institute of Museum and Library Services
International Development Foundations
- African Development Foundation
- Inter-American Foundation
- Legal Services Corporation
- National Endowment for the Arts
- National Endowment for the Humanities
- Neighborhood Reinvestment Corporation
- Overseas Private Investment Corporation
- Appalachian Regional Commission
- Delta Regional Authority
- Denali Commission
- Northern Border Regional Commission
- U.S. Institute of Peace
- U.S. Trade and Development Agency
- Woodrow Wilson International Center for Scholars
Last week Attorney General Jeff Sessions ordered federal prosecutors in drug cases to seek the maximum penalty authorized by federal mandatory minimum sentencing laws. Sessions’ order represents a setback to the progress made toward restoring compassion and common sense to the sentencing process over the past few years. Sessions’ action also guarantees that many nonviolent drug law offenders will continue spending more time in prison than murderers.
Sessions’ support for mandatory minimums is no surprise, as he has a history of fanatical devotion to the drug war. Sessions’ pro-drug war stance is at odds with the reality of the drug war’s failure. Over forty years after President Nixon declared war on drugs, the government cannot even keep drugs out of prisons!
As was the case with alcohol prohibition, the drug war has empowered criminal gangs and even terrorists to take advantage of the opportunity presented by prohibition to profit by meeting the continued demand for drugs. Drug prohibition enables these criminal enterprises to make profits far above the potential profits if drugs where legalized. Ironically, the so-called “law-and-order” politicians who support the drug war are helping enrich the very criminals they claim to oppose!
The war on drugs also makes street drugs more lethal by incentivizing the creation of more potent and, thus, more dangerous drugs. Of course, even as Sessions himself admits, the war on drugs also leads to increased violence, as drug dealers cannot go to the courts to settle disputes among themselves or with their customers.
Before 9/11, the war on drugs was the go-to excuse used to justify new infringements on liberty. For example, laws limiting our ability to withdraw, or even carry, large sums of cash and laws authorizing civil asset forfeiture were justified by the need to crack down on drug dealers and users. The war on drugs is also the root cause of the criminal justice system’s disparate treatment of minorities and the militarization of local police.
The war on drugs is a war on the Constitution as well. The Constitution does not give the federal government authority to regulate, much less ban, drugs. People who doubt this should ask themselves why it was necessary to amend the Constitution to allow the federal government to criminalize drinking alcohol but not necessary to amend the Constitution to criminalize drug use.
Today, a majority of states have legalized medical marijuana, and a growing number are legalizing recreational marijuana use. Enforcement of federal laws outlawing marijuana in those states is the type of federal interference with state laws that conservatives usually oppose. Hopefully, in this area the Trump administration will exercise restraint and respect state marijuana laws.
Sessions’ announcement was not the only pro-drug war announcement made by the administration this week. President Trump himself, in a meeting with the president of Columbia, promised to continue US intervention in South and Central America to eliminate drug cartels. President Trump, like his attorney general, seems to not understand that the rise of foreign drug cartels, like the rise of domestic drug gangs, is a consequence of US drug policy.
The use of government force to stop adults from putting certain substances into their bodies - whether marijuana, saturated fats, or raw milk - violates the nonaggression principle that is the bedrock of a free society. Therefore, all those who care about protecting individual liberty and limiting government power should support ending the drug war. Those with moral objections to drug use should realize that education and persuasion, carried out through voluntary institutions like churches and schools, is a more moral and effective way to discourage drug use than relying on government force.
When OPEC sits down on Thursday, keeping the price of Brent above $50 (to avoid a budget catastrophe and social upheaval in Saudi Arabia) and below $60 (to prevent US production from going exponential), will be just one problem the cartel nations and various hangers-on will be desperate to solve. A much bigger one, literally, is the problem that led to this week's OPEC meeting in the first place, and years of headache for OPEC and non-OPEC nations: a record global oil inventory glut.
The supply glut that began in mid-2014 has dumped almost one billion barrels of petroleum into global inventories. However, of this only 35–45% has ended up in transparent OECD tanks. For OPEC, that is all the matters - in the past, OPEC oil ministers have repeatedly referenced the level of OECD petroleum inventories relative to their five-year average as a gauge of the rebalancing. And, as ScotiaBank notes, those inventories were more than 280 Mbbl above their five-year average as of January and, while European stocks have been falling into a healthier range, the same cannot be said of industry stocks in the US, which despite declining for several weeks, are just below all time highs.
But forget OECD: an increasingly greater concern for OPEC is not the less than a third of above ground oil held in developed nations; it is the rest that is the big challenge. As ScotiaBank's Rory Johnston points out in the following chart, the majority of the remainder was absorbed by China’s vast and growing strategic petroleum reserve (SPR), which means that "the lion’s share of functional—and thus needing to draw from an OPEC perspective—industry inventories remain in the OECD, and specifically in the US (chart 3)."
As we have explained on several occasions over the past year, China's SPR is far more important to the global oil (im)balance and inventory glut than the less than a third of total oil produced since the summer of 2014 and stored. This is due to one main reason: while ScotiaBank is correct that any draws will likely come from OECD storage, it forgets the demand side of the equation.
One year ago, JPMorgan estimated that the daily build of China's SPR, had grown at a breakneck pace, from 491Kbpd average in 2015 to a record 1.191MMbpd in 2016 through May, equivalent to roughly 15% of the country's total crude oil imports.
More importantly, it was roughly a year ago when JPM calculated that China's SPR was getting dangerously close to its estimated capacity, just over 500 million barrels.
JPM also made a forecast that based on its assumptions, Chinese oil imports would slide by roughly the amount that would have been going into the SPR starting in late 2016 as the reserve hit capacity. When that did not happen, there was much confusion among the commodity space, until in late September 2011, satellite imagery from Orbital Insight revealed that the total size of China's SPR was vastly greater than previously estimated.
According to satellite images by geospatial analytics startup Orbital Insight, China, has not only misrepresented how much oil it has stored, it has done so at a massive scale, with the real number dwarfing even JPM own estimate: the real amount of Chinese oil in storage, according to Orbital, was a whopping 600 million barrels as of May. Assuming JPM's estimated rate of SPR accumulation of about 1mmbpd, the 600 million number as of May would have grown to well over 700 million barrels as of September.
Orbital’s figure as first reported by Bloomberg, is well over two times larger than China’s official estimates for strategic petroleum reserves and for commercial stocks, said Orbital Chief Executive Officer James Crawford.
To be sure, in late 2016 other skeptics started warning that even with the revised size estimates, China's SPR was likely approaching capacity. Last September, the IEA warned that "recent pillars of demand growth China and India are wobbling." S&P Global Platts' Ernsberger, cited by CNBC, said that the slowdown in Chinese demand was worrying for major oil producers.
"The demand picture is very unsettling for OPEC and for all producers of crude and refined products (and this is seen most significantly in) the slowdown in growth in the Chinese market. China has returned more incremental demand for the oil market in the last five years than any other country in the world and more than almost any of the counties combine. But this year demand growth in China has stalled and that represents a significant change in the environment for producers both in OPEC and outside it."
Then 2016 came and went, and we find ourselves almost mid-way into 2017 and ask: has anything finally changed, and will all those predictions of an imminent Chinese SPR overflow finally prove accurate?
We don't know just yet, but according to data released by the General Administration of Customs data on Tuesday, China's oil stockpiling pace finally tumbled to 1.36mbpd in April, from 1.6mbpd in March, the sharpest decline in reserve accumulation in years, and in line with the recent slowdown from record oil imports. If indeed China is finally at capacity for the SPR, the SPR stocpiling is about to fall off as cliff this month.
In other words, all those forecasts that China's SPR is almost full appear to be finally coming true, and at the worst possible time for OPEC, because if suddenly over 1 million in daily "demand" is pulled from the market, OPEC will suddenly find themselves with another huge glut now that Beijing is no longer waving it in. In fact, we contend that while OPEC's decision on Thursday is fully priced in by the market, the only thing that matters for the future price of oil is how long until China halts SPR imports. Here, those who have faster access to commercial satellite imagery will be a distinct advantage over everybody else, even the momentum-chasing, headline scanning algos...
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Elite Forex Blog - Market Research & Analysis
SAN DIEGO – Jeffrey Spanier, a 51-year-old former owner of Amerifund Capital Finance, LLC located in Boca Raton, Florida, was convicted by a federal jury today for his role in an elaborate stock-loan fraud scheme in which executives and shareholders of publicly traded corporations collectively lost over $100 million when the stock they pledged as collateral for loans was immediately sold in order to fund the loans.
The first timeshare in the United States was started in 1974 by Caribbean International Corporation (CIC), based in Fort Lauderdale, Florida. It offered what it called a 25-year vacation license rather than ownership. The company owned two other resorts the vacation license holder could alternate their vacation weeks with: one in St. Croix and one in St. Thomas; both in the U.S. Virgin Islands. The Virgin Islands properties began their timeshare sales in 1973 with owners Hillie Meyers, Don Saunders, and Arthur Zimand.
- Analysts upgrading HGV are not considering the 'dark side' of this industry.
- Potential liabilities can spring up anytime that can change this tune.
- Angry customers complain, which can soon become lawsuits, with deleterious consequences.
We see no reason to sign up for RCI except to give the company money. We are new members who tried to use RCI for the first time. We wanted to visit El Dorado Suites, Riviera Maya, using our exchange. Through RCI, we have to pay a $399 fee for a mandatory 7-day visit. RCI requires we also pay a $2500 "Mandatory all inclusive" fee for the El Dorado. So that's the cost of our RCI membership, plus a $399 fee, plus a $2500 all-inclusive fee. Curious, we logged into El Dorado's home page and found we could sign up for the exact same vacation, not using RCI, for a total cost of $2200, also all-inclusive. So the all-inclusive fee alone is more than the actual cost of staying at the El Dorado Suites, without having ever met an RCI salesperson....I have been with RCI approx 12yrs. My previous issues have been the fact that they charge for unused points... Live and learn. My complaint is that I had to cancel a reservation. It's unfortunate but situations do arise and plans have to get changed. I cancelled 5-days prior to my check-in date. RCI WILL NEITHER REFUND NOR CREDIT my charge of $99.00! They say they have a 24-hour 'grace period'. I feel this is a major RIP-OFF to consumers and extremely bad business practice. I have contacted them by email, customer service and 'blabbering' supervisor. I was told "they have to keep the lights on" in order to provide their service. Well, RCI, my lights need to be on as well!! BUYER BEWARE.
Nomura reiterated their buy rating on shares of Hilton Grand Vacations Inc in a research note published on Friday morning. The brokerage currently has a $43.00 price target on the stock.
Kosovo, self-declared independent country in the Balkans region of Europe. Although the United States and most members of the European Union (EU) recognized Kosovo's declaration of independence from Serbia in 2008, Serbia, Russia, and a significant number of other countries—including several EU members—did not.
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But there are plenty of other reasons to want to bring supply chains back to the U.S. High-value-added manufacturing — robot factories pumping out goods — creates jobs for Americans in other ways. As economist Enrico Moretti explains in his book “The New Geography of Jobs,” high-tech manufacturing creates higher-paying service-sector jobs in a local area. The dollars that come into a town with a robot factory get spent on doctors and waiters and personal trainers, and the money circulates throughout the community, leaving everyone better off.from another article:Moretti demonstrates that there really are two Americas — one that’s healthy, rich and growing, and a second that’s increasingly being left behind. The two nations-within-a-nation are divided not so much by region or race or religion, but by the kinds of industries they support. Those cities and towns that are home to innovative industries — information technology, pharmaceuticals, advanced manufacturing and the like — are wealthier, healthier and safer, while the places without these industries are steadily declining.
After predicting the 2008 economic crisis, the Brexit vote, the U.S. presidential election and other events correctly, Nassim Nicholas Taleb, author of the Incerto series on global uncertainties, which includes The Black Swan: The Impact of the Highly Improbable, is seen as something of a maverick and an oracle. Equally, the economist-mathematician has been criticised for advocating a “dumbing down” of the economic system, and his reasoning for U.S. President Donald Trump and global populist movements. In an interview in Jaipur, Taleb explains why he thinks the world is seeing a “global riot against pseudo-experts”.
Putting my work online motivates me to go deeper into a subject. I put it online and it gives some structure to my thought. The only way to judge a book is by something called the Lindy effect, and that is its survival. My books have survived. I noticed that The Black Swan did well because it was picked up early online, long before the launch. I also prefer social media to interviews in the mainstream media as many journalists don’t do their research, and ‘zeitgeist’ updates [Top Ten lists] pass for journalism.
Well, I’m talking about the United States where I get more credible news from the social media than the mainstream media. But I am very impressed with the Indian media that seems to present both sides of the story. In the U.S., you only get either the official, bureaucratic or the academic side of the story.
Oh, absolutely! The last crisis  hasn’t ended yet because they just delayed it. [Barack] Obama is an actor. He looks good, he raises good children, he is respectable. But he didn’t fix the economic system, he put novocaine [local anaesthetic] in the system. He delayed the problem by working with the bankers whom he should have prosecuted. And now we have double the deficit, adjusted for GDP, to create six million jobs, with a massive debt and the system isn’t cured. We retained zero interest rates, and that hasn’t helped. Basically we shifted the problem from the private corporates to the government in the U.S. So, the system remains very fragile.
Of course. The whole mandate he got was because he understood the economic problems. People don’t realise that Obama created inequalities when he distorted the system. You can only get rich if you have assets. What Trump is doing is put some kind of business sense in the system. You don’t have to be a genius to see what’s wrong. Instead of Trump being elected, if you went to the local souk [bazaar] in Aleppo and brought one of the retail shop owners, he would do the same thing Trump is doing. Like making a call to Boeing and asking why are we paying so much.
Not the Islamic State, but al-Qaeda at the time, and I said the U.S. administration was helping fund them. See, you have to have courage to say things others don’t. I was lucky financially in life, that I didn’t need to work for a living and can spend all my time thinking. When Trump was running for election, I said what he says makes sense to a grocery store owner. Because the grocery guy can say Trump is wrong because he can see where he is wrong. But with Obama, he can’t understand what he’s saying, so the grocery man doesn’t know where he is wrong.
Exactly. Trump never ran for archbishop, so you never saw anything in his behaviour that was saintly, and that was fine. Whereas Obama behaved like the Archbishop of Canterbury, and was going to do good but people didn’t feel their lives were better. As I said, if it was a shopkeeper from Aleppo, or a grocery store owner in Mumbai, people would have liked them as much as Trump. What he says makes common sense, asking why are we paying so much for this rubbish or why do we need these complex taxes, or why do we want lobbyists. You can call Trump’s plain-speaking what you like. But the way intellectuals treat people who don’t agree with them isn’t good either. I remember I had an academic friend who supported Brexit, and he said he knew what it meant to be a leper in the U.K. It was the same with supporting Trump in the U.S.
Well, if you’re a businessman, for example, what Trump said didn’t bother you. The intellectual class of no more than 2,00,000 people in the U.S. don’t represent everyone upset with Trump. The real problem is the ‘faux-expert problem’, one who doesn’t know what he doesn’t know, and assumes he knows what people think. An electrician doesn’t have that problem.
Well, with Trump, Modi, Brexit, and now France, there are some similar problems in those countries. What you are hearing is people getting fed up with the ruling class. This is not fascism. It has nothing to do with fascism. It has to do with the faux-experts problem and a world with too many experts. If we had a different elite, we may not see the same problem.
I often say that a mathematician thinks in numbers, a lawyer in laws, and an idiot thinks in words. These words don’t amount to anything. I think you have to draw the conclusion that there is a global riot against pseudo-experts. I saw it with Brexit, and Nigel Farage [leader of the U.K. Independence Party], who was a trader for 15 years, said the problem with the government was that none of them had ever had a proper job. Being a bureaucrat is not a proper job.
I don’t understand how a left-wing person can defend Salafism, or religious extremism. In a democracy, you can allow people to have any view, but they can’t come with a message to destroy democracy. Why should people who come to the West come with a message to finish the West? This is where the discourse goes haywire. So in Yemen, the [Saudi] intervention is good, but the intervention [by Russia] in Aleppo shouldn’t be allowed. I don’t think Trump was racist when he said Mexican criminals shouldn’t be allowed into the U.S.; he was targeting criminals. If you are Naziphobic, you are not against Germans. If I oppose Salafism, I am not an Islamophobe. Obama also deported Mexicans and refused to accept immigrants.
I am not anti-globalisation, but I am against big global corporations. One of the reasons is what they cost. Today, every project sees cost overruns because these projects have to factor in global risks as well. In nature there is an ‘island effect’. The number of species on an island drops significantly when you go to the mainland. Similarly, when you open up your small economies, you lose some of your ethnicity or diversity. Artisans are being killed by globalisation. Think of the effect on so many artists who have been put out of work while people are buying wrinkle-free shirts and cheap mobile phones. I’m a localist. The problem is globalisation comes through large global corporates that are predatory, and so we want to counter its ill-effects.
I don’t think it will go left or right, and I don’t know about the short term. But I think in the long term, the world can only survive if it lives like nature does. Many smaller units of governance, and a collection of super islands with some separation, quick decision-making, and visible implementation. Lots of Switzerlands, that’s what we need. What we need is not leaders, we don’t need them. We just need someone at the top who doesn’t mess the system up.
- At the end of 2015, total pension assets were estimated at USD 35.4 trillion, which represents a decrease of 0.5% compared to USD 35.6 trillion at the end of 2014
- Pension assets relative to GDP reached 80% in 2015, which represents a decrease of 4% from the 2014 ratio of 84%
- The largest pension markets are the US, UK and Japan with 62%, 9% and 8% of total pension assets in the study, respectively
In what may be the most stunning move in the asset management space in years, the WSJ reports that Harvard University’s endowment, which manages just shy of $36 billion, will undergo a "radical overhaul" in the way the world’s wealthiest school invests its money by outsourcing management of most of its assets and lay off roughly half the staff in the process.According to the WSJ, about half of the 230 employees at Harvard Management Company will leave as part of a sweeping change by the university’s new endowment chief, N.P. “Narv” Narvekar. This means that the endowment will shut down its internal hedge funds and let go traders by the middle of the year. Additionally, the internal team in charge of direct real-estate investments is expected to spin out into an independent entity that Harvard is expected to invest with. Only management of Harvard’s natural resources portfolio and passively managed exchange-traded funds will remain in house.
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Overstock.com Inc is an online retailer offering closeout and discount brand and non-brand name merchandise, including bed-and-bath goods, home décor, kitchenware, watches, jewelry, electronics and computers, apparel, and designer accessories.Overstock.com Inc. is based out of Salt Lake City, UT and has some 1,900 employees. Its CEO is Patrick M. Byrne.
Overstock.com, Inc. (OSTK) has reached a new milestone in its efforts to bring Wall Street and bitcoin pioneered crypto-revolution closer. The world's first trading portal for the exchange of securities on blockchain technology is ready and has been built by Overtstock.com's majority-owned fintech subsidiary t0. Overstock.com recently announced approval of a non-transferable rights offering by its board of directors which allows its stockholders of record to purchase shares of its preferred stock, including preferred shares to be issued and traded exclusively on a registered alternative trading system using the t0 issuance and trading platform.
Santiago, who was arrested in January and waiting to stand trial in March on criminal charges, recently showed up to an F.B.I. office in Anchorage unannounced seeking help.Santiago told the F.B.I. he thought he was being mind controlled, possibly by the U.S. government or the C.I.A. and admitted hearing voices, which Santiago said told him to study “extremist materials on the Internet,” the New York Times reports.
“There has been a massive blowback from public pension funds and private endowments,’’ said Craig Effron, who co-founded his Scoggin Capital Management nearly 30 years ago. An investor told him recently that many chief investment officers are so fed up that they would prefer to entrust their cash to a trader who charged no management fee, over one who did, even if they expected the latter to make them more money.Public retirement plans from Kentucky to New York, New Jersey and Rhode Island have decided to pull money from hedge funds. So did a state university in Maryland and other endowments. MetLife Inc. and other insurers followed suit. Money-losing firms were forced to reduce their fees. Client withdrawals ($53 billion in the last four quarters) drove some managers out of business, including veteran Richard Perry, who until recently had managed one of the longest-standing and better-performing firms.
The California Public Employee Retirement System (CalPERS) is about to report the world’s largest public employee pension suffered an actuarial investment loss of $30.8 billion last year.CalPERS manages the defined pension plan investments and record keeping for 3,007 California state and local government entities. The pension plan is also responsible for paying the pension benefits to 611,078 retirees and will eventually be responsible for paying retirement benefits to another 868,713 active and 335,908 inactive government workers.Despite Governor Jerry Brown last summer demanding CalPERS immediately “lower its investment risk and volatility of returns” by reducing its “assumed” annual investment return from 7.5 percent to 6.5 percent, the CalPERS board voted 7- 3 on November 15, 2015 only to slowly reduce the investment return expectation over the next decade.
While clients have only pulled a net 2 percent of assets so far, Tony James, the president at Blackstone Group, the largest investor in hedge funds, predicted in May that the industry would shrink by roughly a quarter over the next year. Hedge fund closures (782 in the first nine months) are on track to be the most since 2008, and startups (576) the fewest.Any manager still standing applauds a smaller industry. Less money under management means fewer crowded trades and more chances to find the elusive alpha. Interest rates on the rise in the U.S., while still near zero or negative in the rest of the world, should also help. The Trump presidency, which promises less regulation, more infrastructure spending and the potential return of prop trading by banks, could also be a boon.
Today is Black Friday, America's commercial holiday - the 'real' Thanksgiving. Today, millions of Americans will buy things they don't need with money they don't have to impress people they don't know. Well, if you want to avoid the melee, shop online at Pleaseorderit.com checkout our Black Friday specials here. Pleaseorderit.com also has free stuff, online specials, free trials - and more!
Penny Splitter (PS) is a strategy that trades on a single pair, every x pips, with a small trade, betting on a trend reversal. PS has very simple logic; If the pair is going up it sells, and if the pair is going down, it buys. It uses small trades and gradually increases by counting (i.e. 1,2,3,4,5,6); and thus 'legging in' to a trade rather than trying to pick the perfect entry point.
You can listen to the podcast on YouTube by clicking here, or press play below:
Joe and I had no trouble filling the time allotted to us for DestinySurvival Radio. He’s quite knowledgeable and explains things thoroughly.
When I asked him to define Forex, it might sound at first like he’s going down a rabbit trail. But he’s not. Listen carefully to what he says about the U.S. dollar and foreign exchange money markets, and it will make sense. Throughout his book he layers on finer points describing Forex.
Here’s how massive Forex is.
Forex is the driver of the global economy. It supercedes nation states, politics, even religion. It’s not governed by law, but by trading principles.
Our Federal Reserve plays a large role in Forex, as do other central banks.
In the book he asserts it’s irrelevant as to who owns the Federal Reserve.Things are what they are. We owe it to ourselves to know a little something about how the system works.
It’s startling to think our Federal Reserve can create money from nothing, and we accept it as such. Yet this plays a significant role in inflation, which affects all of us. Joe and I talked about this and explored what it means to have a fiat money system.
Even though the Fed can create money from nothing, it wouldn’t be wise to print ourselves out of debt. Nor would it be a good idea to go into default.
But about that ever present fiat money…
This may sound shocking to some, but Joe asserts in his book that the U.S. dollar isn’t backed by gold but by bombs. You won’t want to miss what he has to say about this during our conversation. If you’ve paid attention to the news for the past 10-15 years, you’ll observe he’s not saying anything we don’t already know.
To me all of this is terrifying. We’re living in a world whose system is based on feathers and fairy tales.
Does that mean the many dire predictions about a sudden economic crash are sure to come to pass?
Not as Joe sees it. Or at least not in the way most sensationalists would have us believe. That’s because there’s no good alternative to the dollar.
What does Joe mean when he says banks can’t do without the economy, but the economy can do without banks? We discussed that. And I think it bodes well for us, should we end up in the midst of the proverbial postapocalyptic scenario one day.
And what about Bitcoin and other alternate currencies? They’ve been touted as revolutionary and independent of the big banking system. But are they? Listen to Joe’s comments and draw your own conclusions.
If you make financial investments, Joe offers what seems to me to be a reasonable solution. But what if you can’t invest?
If you had $1,000 to put toward getting prepared, what should you do? I think you’ll be surprised by Joe’s advice. (Hint: It’s a practical position I have taken for quite some time.)
Joe’s goal is to help you and me be better prepared financially. Thus, his book. You may also want to see SplittingPennies.com.
Additionally, the negative currency translation impact on our international wholesale and retail sales for the quarter was $15.9 million. We believe that our international business represents the greatest growth opportunity with many countries continuing to show strong sales increases in the quarter, including China at over 50%.
In terms of actual political measures that Trump would propose and/or enact, he listed the following six:
- "A Constitutional Amendment to impose term limits on all members of Congress."
- "A hiring freeze on all federal employees."
- "A requirement that for every new federal regulation, 2 existing regulations must be eliminated."
- "A 5-year ban on White House and Congressional officials becoming lobbyists after they leave government."
- "A lifetime ban on White House officials lobbying on behalf of a foreign government."
- "A complete ban on foreign lobbyists raising money for American elections."
17 Oct: USD 1,252.70, GBP 1,029.59 & EUR 1,139.58 per ounce
14 Oct: USD 1,256.15, GBP 1,028.79 & EUR 1,140.08 per ounce
13 Oct: USD 1,258.00, GBP 1,029.93 & EUR 1,141.76 per ounce
12 Oct: USD 1,255.70, GBP 1,024.53 & EUR 1,139.05 per ounce
11 Oct: USD 1,256.40, GBP 1,021.58 & EUR 1,130.76 per ounce
10 Oct: USD 1,262.10, GBP 1,016.62 & EUR 1,129.71 per ounce
17 Oct: USD 17.40, GBP 14.30 & EUR 15.83 per ounce
14 Oct: USD 17.47, GBP 14.28 & EUR 15.86 per ounce
13 Oct: USD 17.59, GBP 14.40 & EUR 15.95 per ounce
12 Oct: USD 17.44, GBP 14.23 & EUR 15.83 per ounce
11 Oct: USD 17.48, GBP 14.26 & EUR 15.78 per ounce
10 Oct: USD 17.78, GBP 14.31 & EUR 15.92 per ounce
Recent Market Updates
- “Gold Is A Great Hedge Against Politicians” – Goldman
- Sell Gold Now – Time To Liquidate Gold ETF, Pooled and Digital Gold
- Gold In GBP Up 43% YTD – “Massive Twin Deficits” To Impact UK Assets
- Ron Paul Says “Gold Going Up” Whether Trump Or Clinton Elected
- Gold Trading COT Report “Means Lower – Then Much Higher – Prices Coming”
- Currency Shock Sees Sterling Gold Surges 5% In One Minute “Flash Crash”
- Top Gold Forecaster: “As Quickly As Gold Fell” May “Rally Back” on Global Risks
- Gold Buying ‘Opportunity’ After Surprise 3.4% Drop
- Deutsche Bank “Is Probably Insolvent”
- GBP Gold Rises 1.3% as Sterling Slumps On ‘Hard Brexit’ Concerns, Up 36% YTD
- Why Krugman, Roubini, Rogoff And Buffett Hate Gold
- ECB Refused “To Answer Questions” – Deutsche Bank “Systemic Threat” Is “Not ECB Fault”