October 2014 – Page 4

Ray McGovern, CIA Analyst for 27 Years, is Arrested and Roughed Up in NYC for Trying to Protest Retired General Petraeus

Screen Shot 2014-10-31 at 11.53.22 AM The following post should serve as a serious red flag to all of you who currently mindlessly serve the state in some capacity. First off, here’s a little background on Ray MacGovern. His bio on Wikipedia starts off with:

Raymond McGovern (born August 25, 1939) is a retired CIA officer turned political activist. McGovern was a CIA analyst from 1963 to 1990, and in the 1980s chaired National Intelligence Estimates and prepared the President’s Daily Brief. He received theIntelligence Commendation Medal at his retirement, returning it in 2006 in protest at the CIA’s involvement in torture.

So here we have a decorated, lifetime government employee who served the U.S. power structure in a greater capacity than 99.9% of all those flag waving, “thank you for your service” phonies out there. Over time, Mr. McGovern recognized the evils of American empire and he became an activist. Ever since then, he has been harassed, abused and placed on watch-lists by the country he so diligently served.

from Liberty Blitzkrieg http://libertyblitzkrieg.com/2014/10/31/ray-mcgovern-cia-analyst-for-27-years-is-arrested-and-roughed-up-in-nyc-for-trying-to-protest-retired-general-petraeus/
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Cold War Revival?: Hackers, Harassment, and Nuclear-Equipped Bombers

Are we heading into a new Cold War with Russia?
Secretary of State John Kerry says it’s even worse.

“The Cold War was easy compared to where we are today,” Kerry

said yesterday at a forum in Washington, D.C. It’s a dramatic
turnaround from the United States’ position several years ago when
Hillary Clinton, who held the secretary of state position just
before Kerry, symbolically “reset” American-Russian relations in
what was supposed to a newly amicable era.

This week
reports emerged of American diplomats in Russia having their
tires slashed, computers hacked, and experiencing break-ins. Kerry
confronted his counterpart, Russian Foreign Minister Sergey Lavrov
over the reported harassment. But that’s just the tip of the
iceberg.

The Washington Post on Tuesday
broke news that White House computers were breached by hackers
believed to be working for the Russian government. “Russia is
regarded by U.S. officials as being in the top tier of states with
cyber-capabilities.”

Furthermore, “Russian bombers may be flying nuclear strike
drills over the Atlantic Ocean and North Sea, current and former
U.S. Air Force officers believe,”
states The Daily Beast:

Since Oct. 28, NATO air defenses have detected and monitored
four groups of Russian combat aircraft over the Baltic Sea, North
Sea, Atlantic Ocean, and Black Sea. Norwegian F-16 fighters
intercepted one particular group of Russian aircraft on Oct. 29
that included four, nuclear-capable Tupolev Tu-95 Bear H strategic
bombers and four Ilyushin Il-78 aerial refueling tankers. Once
intercepted, six of the Russian aircraft headed for home while the
two remaining Tu-95 bombers continued southwest, parallel to the
Norwegian coast, before eventually turning back towards Russia.

The giant, propeller-driven Tu-95 is a launch platform for the
1,600 nautical mile range Raduga Kh-55 nuclear-tipped cruise
missile. The weapon carries a 200-kiloton nuclear warhead; by
comparison, the bomb that destroyed Nagasaki was a mere 21
kilotons. …

The foray into European airspace by the Tu-95 Bear bombers is
cause for concern. That’s not just because of the Bear bomber’s
long-range nuclear weapons capability, but also because of the
Russian’s general disregard for international air traffic norms.
Not only did the Russians not file a proper flight plan, they also
did not have active transponders—which would allow civilian air
traffic controllers to see them. The situation could lead to a
serious accident where an airliner might collide with a Russian
bomber.

The combination of hacking and dangerous flying represent the
old and the updated techniques of Cold War signal-sending,”

suggests The New York Times’ David Sanger. “In the
Soviet era, both sides probed each other’s defenses, hoping to
learn something from the reaction those tests of will created.”

NATO, for which the U.S. is the largest supplier of troops and
funding, has essentially broken off relations with Russia, and is
pushing
for a greater military presence in Eastern Europe since Vladimir
Putin began a bloody, brutal invasion and annexation of parts of
Ukraine earlier this year.

Poland, a NATO member, isn’t taking any chances with Russian
aggression in its backyard. The nation
announced this week that it may move thousands of troops to its
eastern border to ward of Putin. Nearby, Sweden spent part of
October hunting down what it believed to be a Russian submarine
lurking in its waters, prompting a sudden shift in
popular support for joining NATO.

Russia is returning to Cold War practices at home, too. Half the
nation’s people fear
Soviet-style mass repression will happen again in their
lifetime. Reason has talked to several Russian
libertarians about the
domestic crackdown on
political opposition and the press.

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Ronald Bailey Asks: Is Capitalism Ultimately Unsustainable?

Environment and Liberty Human activity is remaking the
face of the Earth: transforming and polluting the landscape,
warming the atmosphere and oceans, and causing species to go
extinct. The orthodox view among ecologists is that human
liberty—more specifically economic activity and free markets—is to
blame. For example, the prominent biologist-activists Paul and Anne
Ehrlich of Stanford University recently argued in a British science
journal that the environmental problems we face are driven by
“overpopulation, overconsumption of natural resources and the use
of unnecessarily environmentally damaging technologies and
socio-economic-political arrangements to service Homo
sapiens’ aggregate consumption.” The Ehrlichs urge the
“reduction of the worship of ‘free’ markets that infests the
discipline” of economics. Reason Science Correspondent
Ronald Bailey asks in an essay over at The New Atlantis if
liberty and the natural environment are, in fact, antithetical.

View this article.

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WARNING: Avoid this corrupt, third-world country at all costs

October 31, 2014
Santiago, Chile

John Anderson, an American tourist from San Clemente, California, was driving down a poorly-maintained highway when he saw flashing lights in his rearview mirror.

After a brief exchange with the local police officer, Anderson was shocked when the cop started searching his vehicle.

Anderson had $25,180 in US dollar cash in the car, which by the way was not a crime according to the local laws.

When the cop saw it, he told Anderson that we would take it and threatened him with arrest if he protested.

Anderson couldn’t believe it. This is the sort of stuff you always hear about in these third world countries—corrupt cops and state robbery.

Ultimately Anderson gave in; the cop let him go and did not charge him with a crime, but took every last penny in the vehicle.

And for the last two years, Anderson has been trying to unsuccessfully fight it in the country’s Kangaroo court system.

Clearly we should all avoid going to such dangerously corrupt third world countries.

Except in this case, Anderson was in the United States of America. And he is far from being the only victim of this highway robbery known as Civil Asset Forfeiture.

Since 9/11, police forces in the Land of the Free made over 62,000 seizures without charging anyone with any crime, stealing $2.5 billion in cash alone.

The cost of taking legal action against the government is so high, that only about 17% of the victims actually challenged the seizures.

And even then, only 41% of those that challenged have been able to get their money back.

This means that the government has a better than 93% success rate in outright theft.

This is worse than mafia—it’s blatant theft with impunity from the people that are sworn to protect and serve. It’s the kind of thing that is thought to only occur in heinously corrupt countries.

Here’s the good news: many people are waking up to the reality that they’re not living in a free country.

They are starting to understand what I call ‘the criminalization of existence.’

Every last detail of our lives is regulated—what we can/cannot put in our bodies, whether we can collect rainwater or unplug from the grid, how we are allowed to educate our own children, etc.

Driving this point home, a Tennessee woman was actually thrown in jail earlier this month for ignoring a city citation to trim some overgrown bushes in her yard.

This isn’t freedom.

The irony is that, even though many people are starting to realize this, they’re looking to the very institution that has enslaved them to solve the problem.

It is their own government that has created this system.

It is the government that passed US Code section 983 (Rules for Civil Forfeiture), allowing the police to commit highway robbery.

It is the government that continues to arrogantly, brazenly spy on every citizen despite overwhelming public outcry.

It is the government that continues to bring forth new regulation at an absolutely astounding rate.

Just today (this is 100% true), the US federal government published an eye-popping 490 pages of new rules, proposals, and regulatory notices.

(http://ift.tt/1zmweJ6)

To give you a little taste, today’s regulations include:

Stringent requirements for properly handling spearmint oil;

New tolerance specifications for a-alkyl-w-hydroxypoly sulfate

Additional powers awarded to the Department of Education to decide “whether certain postsecondary educational programs prepare students for gainful employment.”

A decision to centrally manage the 2014 ‘total allowable catch of Pacific Cod’ in the Bering Sea.

There’s even a new rule upholding fines for unauthorized playing of digital recordings.

You can’t make this stuff up—they are regulating nearly everything.

It’s government that does this. They are the problem, not the solution.

Looking to government to solve the problem that they themselves created is completely irrational. They are incapable of righting themselves.

The solution – the power – is with the individual.

All the tools and all the resources to distance yourself from this system already exist.

On one hand, there’s always the possibility of leaving. The American Dream is still alive and well… it’s just no longer in the United States. Not to mention all the financial, business, investment, and lifestyle opportunities for the taking.

But even if you stay, there are dozens of ways to take back your freedom.

For example, why hold 100% of your savings and assets in that jurisdiction when they could easily confiscate everything?

There are so many great, safe jurisdictions in the world to bank, to invest, to own property, and to store assets. And you can set all of this up without leaving town.

The solutions are out there. It’s time to consider them before becoming a statistic.

P.S. Here’s more proof that the official inflation numbers are completely phony… yet another market that has reached an all time high.

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No inflation Friday: How sport salaries reveal the true rate of inflation

October 31, 2014
Santiago, Chile

The new NBA season started this week. And with it the new salary cap for 2014-15 entered into force. It increased by 7.5% and is now at a record high of $63 million.

Yet another “all time high” in a world where everything seems to be hitting the moon.

NBA’s salary cap increased only marginally in the previous seven years. It went from $55.6 million per team in the 2007-08 season to $58.7 million for 2013-14, an increase of 5.6%.

Now it more than made up for it. Similar increases have been happening across the board in sports. Let’s look at the most popular sport around the world, soccer (or as it’s know in most places, football), as a credible example.

Transfer and wage amounts in soccer have risen markedly especially since the European Central Bank President Mario Draghi vowed to do “whatever it takes” to save the euro two years ago and since the Bank of England has been flooding the market with pounds at an annualized growth rate of more than 20% in recent years.

Everyone expected that it was a giant aberration when Real Madrid paid 94 million euros for Manchester United’s Portuguese star Cristiano Ronaldo in 2009 and that the record will hold for years to come.

Yet it was swiftly broken last year when Real spent 100 million euros on Gareth Bale from Tottenham. Of the ten highest transfers in soccer of all time, seven happened since last year’s summer.

20 clubs in the English Premier League spent a record $1.3 billion on transfers during the latest transfer window in July and August. That blew away the previous high of just over $1 billion set a year earlier.

What’s especially striking is how amounts in the tens of millions have spiraled and are now easily spent on players considered nowhere near the top of the game, such as the combined 100 million euros spent by Zenit Saint Petersburg on Axel Witsel and Hulk from Porto.

Or 32 million euros spent by Real Madrid on a virtually unknown Asier Illaramendi last year, and 40 million euros spent by Manchester United this summer on 19-year old Luke Shaw, making him the most expensive teenager in world soccer, who’s now earning about $200,000 a week at United.

Rapidly increasing sport salaries and transfer fees are just another indication of how much money has been injected into circulation by the world’s central banks in recent years.

According to the Bureau of Labor Statistic’s Consumer Price Index, inflation in the US is at 1.7%.

Instinctively you know that’s nowhere near the truth. The price of everything is going up. Food. Tuition. Health Care. Movie tickets.

Curiously, wage growth hasn’t kept up (unless you’re a pro-athlete). Adjusted for inflation, the average guy is worse off than he was 14 years ago.

And that’s using the official rate of inflation. If inflation rates were still tracked the same way they were until the 1980s, then the actual number today would be closer to 9.4%.

The government has changed the way they track inflation twice since then because a number of government programs include automatic payment adjustments for rises in inflation.

They’re deliberately keeping people misinformed and screwing them over.

And the biggest losers are those that actually, you know, save and produce more than they consume, as well as those on fixed incomes—they get hit the hardest as the purchasing power of their dollars constantly declines.

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The Day The Market Crashed – The Sequel

Via Joe Saluzzi and Sal Arnuk of Themis Trading,

In August 2013, the Nasdaq SIP broke and trading in Nasdaq stocks was halted for 3 hours. Yesterday, at 1:07 PM ET, the NYSE SIP broke but trading was allowed to continue until the backup facility was put on line (above is a graphical representation of the outage from Nanex). The NYSE SIP is overseen by the policy making body known as the Consolidate Tape Association (CTA). According to the CTA:

“The New York Stock Exchange LLC is the Administrator of Network A and NYSE MKT is the Administrator of Network B.”?

If you are not familiar with the CTA , here is a brief description of who they are:

“The Consolidated Tape Association (CTA) oversees the dissemination of real-time trade and quote information in New York Stock Exchange LLC(Network A) and BATS, NYSE Arca, NYSE MKT and other regional exchange (Network B) listed securities. Since the late 1970s, all SEC-registered exchanges and market centers that trade Network A or Network B securities send their trades and quotes to a central consolidator where the Consolidated Tape System (CTS) and Consolidated Quote System (CQS) data streams are produced and distributed worldwide.”

Here is part of the statement that the CTA published yesterday concerning the NYSE SIP outage:

“At approximately 1:07 PM ET, there was a network hardware failure impacting the CTS/CQS/OPRA data feeds at the primary data center. At approximately 1:34 PM ET, after investigation of the issue, SIAC made the determination to switch over to the secondary data center in Chicago for the CTS/CQS data feeds and then the OPRA data feed. Normal processing resumed in Chicago at approximately 1:34 PM ET for CQS, approximately 1:37 PM ET for CTS, and approximately 1:41 PM ET for OPRA.”

For at least 27 minutes, the SIP which processes Tape A and Tape B stocks was not working properly. This means that any dark pool, stock exchange or retail broker which relies on the SIP for public quotes was pricing off of incorrect quotes. Of course, any firm which pays for exchange direct feeds was still pricing off of accurate information. Therefore, for at least 27 minutes, an “information asymmetry” existed. You may remember the term “information asymmetry” from last year’s Nasdaq SIP outage when the CEO of Nasdaq said:

“We knew professional traders had access to individual data feeds, but the traditional long investor, retail investor now didn’t have the same information, because of that, we halted the market. The high frequency firms would have access to proprietary feeds from individual exchanges. The consolidated feed which we operate had a problem, wasn’t giving quotes out. We had to halt the market because of that. We didn’t want to have a situation where information asymmetry, as you say.”

?Apparently, the NYSE didn’t think it was necessary to halt trading in their listed stocks. But some dark pools took responsibility and decided to halt trading at their venues. According to Bloomberg , “ITG had to close its Posit dark pool for about 30 minutes and Goldman Sachs Group Inc. briefly halted trading in its Sigma X dark pool.” This makes us wonder about all the other venues that did not halt trading yet rely on the NYSE SIP for pricing.

– Did their customers receive accurate pricing?

– Were retail market orders, which normally receive sub-penny price improvement, priced off of incorrect and stale quotes?

?In addition to possible pricing errors, there was another situation which occurred right in the middle of the SIP outage. At 1:19:19 PM ET, an extremely high number of trades occurred in the E-Mini futures contract. According to Nanex, there were 15,263 contracts that traded during this second. Almost immediately, quote and trade levels spiked on the US equity markets in reaction to this e-mini barrage of trades.

– Were these E-Mini trades placed to take advantage of the misplacing in the equities market?

– Could the E-Mini’s trades have been put through to ignite momentum in a stock market which was already suffering from a liquidity issue due to the lack of correct quotes?

Unfortunately, we don’t know the answer to these questions and doubt that our regulators (even if they knew to ask these questions) would have the data to find the answers. Since the CFTC regulates the E-Mini futures and the SEC regulates the stock market, they maintain two sets of different data. This was evidenced clearly after the May 2010 Flash Crash when it took a Joint CFTC/SEC committee almost 6 months to analyze 45 minutes of trading.

We live in a cross-asset world where high speed traders routinely position multiple asset classes. Unfortunately, our regulators still seem to live in a single asset world. We believe that the CFTC and the SEC should create a Joint Task Force which could quickly be put into action when events like yesterday occur. This task force would be able to share and compare data to determine if any nefarious behavior caused or took advantage of an outage.

One last ironic point about yesterday’s SIP outage. At the exact same time the outage was occurring, an Exchange Leaders Panel ?at a SIFMA event in NYC was just kicking off. The session was billed as:

“This session will explore the competitive, structural and regulatory landscape that Exchanges operate in today, and the challenges and opportunities facing the industry in the year to come.”

No doubt those exchange leaders have some more challenges to address now.

via Zero Hedge http://ift.tt/1yMrIQS Tyler Durden

Whatever You Do, Ignore These Signs

But, but, but the market’s at record highs…

Source: Cagle via The Burning Platform

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Martin Armstrong: “At What Point Does Revolution Take Place?”

Submitted by Martin Armstrong via Armstrong Economics,

Reuters has published the result of what is being touted as the Ignorance Index. The one question as an example: “Guess how many U.S. girls aged 15-19 give birth each year. Go ahead, guess. If you calculated the number at 3 percent you’re correct; if you guessed 24 percent, you’re American.”

I rarely watch TV. If I do, it tends to be national news – never local that think a burning house is news or some guy shot his wife in a domestic dispute. I was at dinner and the TV was on. I could not believe the TV advertisements for the elections. They are all NEGATIVE calling the other a liar or misrepresenting the facts on everything. One said the candidate cut the number of police, made the streets more dangerous and then shows a picture of ISIS and then said she raise taxes. Then the very next advertisement flips and calls the other a liar for something or another. There was ZERO advertisement about anything other than vote for me because I lie less that the other liar.

It seems that the Ignorant Index may be more tied to the bias and lack of integrity of the media. They focus on sensationalism to gain readership and in the process focus of one thing and create false images in the minds of the average person.

A classic issue is immigration and Muslims. Americans, according to the Ignorant Index, “significantly miss the mark on the proportion of the population that is comprised of immigrants, guessing 32 percent against the true number of 13 percent. Americans also overestimate the number of Muslims in the population, 15 percent versus only 1 percent in reality, and underestimate the number of Christians, 56 percent to 78 percent. ”

It seems as if the problem is not that Americans are ignorant, they are being fed nonsense by the media to sell newspaper and TV advertising. We have fallen into a cycle of Yellow Journalism that was begun by Pulitzer. It was Pulitzer for created the Spanish-American War by making up shit to sell newspapers. The famous Pulitzer Prize given by Columbia University is named after the father of Yellow Journalism – go figure!

One good place to start is OUTLAW negative advertising. COMPEL political candidates to state what they stand for rather than calling their opponent a liar. Then if they do not vote for what they profess and knuckle under to party rule, that should be FRAUD and time for a vacation in the “Big House” (Penitentiary named after a place you were supposed to be silent and do penance).. We seem to elect people for no reason and then wonder why nothing changes. Obama’s vote for me for real change has been a joke – he kept the same people Bush had in place. This is why polls place politicians at 7% trust factors. The days of Jimmy Carter, Ronald Reagan, and Maggie Thatcher who at least stood for what they believed in regardless of what people thought, are over. They were at least ethical.

At what point does revolution take place? It does not appear to be a percentage in our review of history, but the economic trend. In other words, turn the economy down and the percent of discontent rises exponentially. So beware – not ghosts and goblins, but politicians 2015.75-2020. So perhaps Americans will wise up only when the economy turns down and the Internet provides a greater proportion of real news compared to mainstream media. Indeed, the younger generation under 40 rely on the internet and those who subscribe to newspapers or watch the TV news are diminishing rapidly. This in itself will be a dynamic shift that restores freedom of the press and only then perhaps we will see Americans rise in the Ignorance Index.

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Let me get this straight…

Let me get this straight…FOMC stops buying securities in the open market and the world falls apart, right? WOW. Are you folk’s economists, traders, or just a bit naive? I get the notion of negative sentiment, large fed balance sheets, “potential” global economic slowdown, and blending the nuances into an applicable portfolio model.

Do you folks really believe that its core, the fed and its respective governors, analysts, modelers, connections to Wall Street, are focused on anything other than returning the US economy back to a something resembling a sustainable growth rate? Seriously.

Has anyone calculated the amount of sheer economic academic years or experience, business know-how, and capital markets exposure that is currently in the fed at this moment? Janet Yellen, by herself, knows more about the economy than most market participants. Spending the majority of your adult life studying and being exposed to economic history and esoteric conditions eventually, even minimally by osmosis, will result in studied analysis and opinions.

For the people about to comment and inquire if I work for the FOMC, any government entity, FBI or the CIA, none of the above. Just want to make sure I get that out into the open.

Macroeconomic perspective: We just spent the last 6 years averting the most significant economic event of in most our lifetimes. If memory serves me right, after Lehman Brothers fell, the economy physically stopped for about 3 days. There was a complete void of activity from the US, to Europe, to China. Banks at that moment would not issue letters of credit for international trade, firms were having difficulty establishing short term debt such as commercial paper, and lending stopped all together. There was no flow of capital, period. In basic economic terms, an economy (global or local) relies on the flow of capital to sustain activity.

Moreover, if TARP, QE’s, FNMA/FRMC conservatorships, forced buyouts did not occur, the economic, financial, and capital markets landscape would be changed to an indescribable reality. Whether we like it or not the actions by our governments and by the governments of other countries shifted the burden away from the financial markets.

The perception of risk changed. Perhaps for the foreseeable future. Whether you believe in Laissez Fair or Keynesian economics, the reality is that central bankers have a serious monitor plugged into to the global economy. No central banker would like to go back to the months of the 2008 crisis.

This includes the fed, ECB, BOJ, BOE, any other acronym in the lexicon of the financial markets. Remember, the main risk is to go back to crisis mode, deflation not inflation, and the loss of flow of capital.

This market may be infused and powered by the fed but what was the alternative.

The reality is that most of these readers are probably short the market and expecting a bit of a payday on their respective positions. Not that there is nothing wrong with being short. Have you been short for the last 5 ½ years in one of the most bullish trends in recent memory?

Realize this: You actually serve as a bullish indicator for the rest of us. The more short you get, the greater and more intense the spikes are in the aggregate. Think short squeeze. Classic.

So you will excuse the positive tone of this statement. No, the world will not end tomorrow morning, no matter how volatile the /es futures are in the Pre-market. VIX being up at 31 for a part of one day in the last several months does not constitute a massive market sell-off. Get a grip.

Judging by the intelligence level of the readers and contributors of this web portal, I shudder to think that this is nothing more than just pure ethos talking. Could Ebola destroy us all? No doubt. Could Germany relapse into the 1930’s economic woes? Absolutely. I am starting to pander a bit, sorry.

No I don’t have my head in the sand. Quite the opposite. A finger on the pulse of the economy. An ear to ground to news and data. And one finger on the “sell my entire portfolio” button. I may be optimistic, not stupid.

via Zero Hedge http://ift.tt/1zRC8Tv Pivotfarm

Starting Off Strong: Goldman Slashes Q4 GDP Estimate From 3.0% To 2.2%

Between today’s record high Italian unemployment, and the just announced Goldman slashing of its Q4 GDP forecast from a 3.0% standing estimate to a 2.2% tracking forecast, one can easily see why the S&P is going to hit 2050 early next week..

From Goldman Jan Hatzius:

BOTTOM LINE: Personal spending grew less than expected in September, and personal income also grew a bit less than expected. The core PCE price index rose at a subdued rate, in line with expectations. Separately, the employment cost index rose more than expected in Q3, pointing to slightly faster growth in compensation expenses. We began our Q4 GDP tracking estimate at +2.2%.

Personal income grew 0.2% (vs. consensus +0.3%) in September. Personal spending fell 0.2% (vs. consensus +0.1%), in part as a result of a decline in motor vehicle and parts sales (-5.3%). As a result of income growing more quickly than spending, the saving rate moved up two-tenths to 5.6%.

We start our Q4 GDP tracking estimate at +2.2%, eight-tenths below our prior standing forecast. The lower tracking estimate mainly reflects the larger-than-expected +0.7 percentage point contribution from defense spending to Q3 growth (which introduces risks for payback in Q4), the weaker-than-expected trajectory for consumer spending heading into the quarter apparent in today’s personal income and outlays report for September, and a slightly weaker assumption on net exports in light of the large net trade contribution in Q3, our global teams’ recent downgrades to rest-of-world growth forecasts and the recent appreciation of the US dollar.

via Zero Hedge http://ift.tt/1zRC8Df Tyler Durden