A friend of Jay Bishop who was stood next to Bishop when he was executed in cold blood has spoken out, saying the pair were deliberately “hunted down” by leftists.
Bishop was shot dead on Saturday night in Portland. Video footage of the incident shows someone shouting “We’ve got a Trumper right here,” before another person responds “Right here?” before firing two shots.
Leftists in Portland later celebrated the brutal murder by dehumanizing Bishop, who was a member of the conservative Patriot Prayer group as a “Nazi”.
A friend of Bishop’s who was with him when he was shot told an interviewer, “They executed my partner.”
“They hunted him down, they hunted us down, they recognized our Patriot Prayer hats,” said the friend.
He then confirms what is heard on the video – that a conversation took place where the men were identified as Trump supporters and Bishop was shot dead for that reason.
The friend said that immediately after discharging his weapon, the shooter ran away. He still hasn’t been caught by authorities.
“I’m OK, I turn over and Jay’s dead, because he believed something different than them…he’s a good man, he didn’t do anything to earn a bullet in the chest,” said Bishop’s friend.
Asked what his message would be to President Donald Trump, Bishop’s friend said “send troops.”
“Portland is as corrupt as any place you’ve ever seen or heard about in the movies,” said the friend, adding that Patriot Prayer members are being charged with felony rioting while the actual Antifa rioters who throw explosives at police are set free by the District Attorney.
“Those people are being let go,” he concluded.
* * *
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Ultra-Rich Investor Group Panic Hoards Cash Ahead Of Potential Growth Scare Tyler Durden
Mon, 08/31/2020 – 08:50
In an upside-down world of activist central banks jawboning main equity indexes to record highs with terrible market breadth, and the Trump administration finding all sorts of creative headlines (vaccine headlines, trade optimism, stimulus news, etc…) to maintain upside momentum. There’s one group of savvy investors, spooked by the continuing virus-induced downturn, panic hoarding an “unprecedented” amount of cash, reported Bloomberg.
Tiger 21, an investor club of 800 high net worth investors founded in 1999 by Michael Sonnenfeldt, raised cash holdings to 19% of their total assets, which is up from 12% at the start of the pandemic.
Tiger 21 founder Michael Sonnenfeldt
The investor group believes market turbulence could persist until June 2021.
“This rise in cash is an extraordinary change — statistically, this is the largest, fastest change in asset allocation Tiger 21 has seen,” Sonnenfeldt said, adding that each member typically has more than $100 million in assets.
Sonnenfeldt said, “in trying to build resources prudently, members have gained liquidity and will not immediately reinvest in those areas in order to keep and build cash to weather this storm.”
The record cash hoarding by this group of centimillionaires comes as market breadth is horrible, and a growth scare could rear its ugly head in the near term and trigger a stock market correction.
The cause behind dismal breadth, as readers may know, is shown on the following Goldman chart of the market cap of the five largest S&P companies (FAAMG), accounting for about a quarter of the market cap of the S&P500.
FAAMG stocks are up on the year, accounting for about 35% year-to-date gains for the S&P500; while the 495 other stocks in the main equity index have slumped by 5%.
Rising concentration risks have left the main equity index vulnerable to a market correction if tech stocks are hit with a wave of selling.
UBS Global Wealth Management’s Charles Day told wealthy clients in June to “avoid” chasing parts of the equity market pushed up into a speculative frenzy by day traders.
Readers must ask the question: Why would high net wealth investors build cash, sell stocks, and avoid chasing the blow-off top?
Well, the charts below might offer some clues…
Dow Then & Now
Nasdaq Y2K & Now
Readers all know how the story will end – it’s now just timing…
via ZeroHedge News https://ift.tt/3hKXzxU Tyler Durden
“Sentenced To Isolation Prisons!” – College Students Across America Are Being Subjected To A Horrid Psychological Experiment Tyler Durden
Mon, 08/31/2020 – 08:31
College, long a fun and liberating experience for many young adults, has, as The Ron Paul Insitute’s Adam Dick details below, become a dreary and oppressive experience for many students living under the weight of a multitude of restrictions imposed at American college campuses in the name of countering coronavirus.
These restrictions are absurd from the perspective of protecting people’s health given that coronavirus is not particularly dangerous. This is especially the case for the teen and twenty-something students. For these relatively young college students, coronavirus generally poses very little risk of death. Further, most such young adults experience zero symptoms to minor sickness from coronavirus infection.
I have written about the draconian restrictions imposed at college campuses in the name of countering coronavirus, with some focus on Duke University, Syracuse University, and the University of Texas and Texas A&M. These are not handpicked examples of campuses whose college administrators have imposed uniquely harsh rules in the name of countering coronavirus. The problem is present at many college campuses across America, and it is devastating for many students.
“The whole thing is a bait and switch. We’re being forced to pay to attend Zoom classes in our rooms all semester. A few of my friends didn’t even come back to town, and I don’t blame them. Why would they when they can get the same education at home?
I only have two in person classes. Both meet one day a week. One is optional to go on Zoom if you prefer. The other allows five students in class at once. We’re going on shifts so Week 1 the first five go, then Week 2 the second five go, etc.”
I love this university but if I knew when I was in high school that I’d be staying in my room all day, I would’ve never gone to any college.”
Tulane University
“No gatherings over 15 people. Everyone’s mental health is crumbling. Nobody is even sick and those who quarantine follow the rules. School requires asymptomatic testing and there’s no end in sight . My guy and girl friends are all miserable . So many have been like this is prison we can’t do anything. All bars closed in Louisiana. We gather at local parks and the cops come to shut it down. No fun ever allowed and no end in sight.”
University of Iowa
“They have ‘isolation dorms’ for COVID kids, but they are horrid. Guys in hazmat suits come … 2 week isolation, no visitors. Nurse on call but up to 3 hour wait if you need something … kids at school now are not getting tested so they don’t get sentenced to the isolation prisons.”
Middlebury College
“Students had to sign a health pledge that they had no say in developing. All students are confined to dorm rooms until COVID test comes back negative. No one is allowed off campus until at least September 15. No visitors on campus all year. School has a google form so that people can snitch on non-compliers. Town is terrified of students returning. This is in a county in Vermont that has had 5 cases and the entire state had 55 deaths. They have cancelled all fall athletic competitions. Students are back on campus, but most classes will be remote, with of course a 3% tuition increase. Professors active on reopening committees, so it is not surprising that they are pro lockdown.
Local state senator wrote to [school president] and called college reckless for bringing kids back. They all want to live in a bubble, take the money that the college brings to the community, but have no actual interaction.”
Southern Methodist University
“Students must wear masks outside dorm rooms, cannot visit another dorm, etc. Threatened with draconian honor code violations if they violate the rules and orientation was declared all virtual at the last minute. Yet today, the athletes, with permission of and active participation by the University, were permitted to organize a BLM march through campus.”
University of Tennessee-Martin
“The first two weeks of the semester have been very different. At my university, I have to stay in my dorm. Since my college courses are all online, keep in mind without any tuition deduction, my friends and I have not gotten to leave our dorm to make friends. One way we socialize is opening up our dorm window & talking to people who are walking to their cars or back to their dorms. Another thing we have to do is take a daily COVID report, if we do not pass this test, we are not allowed to leave our dorm and will not be allowed to go anywhere at school. As well as a daily COVID report, we can only enter and exit through specific doors. The university has cut off our keys to entering certain ways. For example, if we are walking back from the dining hall, we have to walk to the parking lot behind our dorm to enter our building. This can actually be very dangerous if we find ourselves in a situation we need to enter through the front door & can’t because it’s locked. All my classes are online. Though they are all online, I am still required to stay on campus, pay for on campus housing, and buy a meal plan.”
University of South Carolina
“Roommates are terrified of making a mistake regarding masks, distancing and gatherings … the President basically ‘yells’ everyday that this is not sustainable and is threatening to shut it all down … kids are just waiting for the hammer to drop.”
“It’s horrific. After four months of quarantine with no friends, she was desperate to go to campus so we encouraged it. I am sick with worry every day. Not about the virus. About the mental anguish and social isolation they are forcing on our kids.”
Vanderbilt University
“No roommates … all online classes, no in person activities, dining halls closed, libraries closed except under very strict guidance, no visiting another dorm room, 6-ft distance at all times, masks mandatory when not in dorm room, cannot leave the Nashville area, circles drawn on quad area, threats of suspension/expulsion for first offense, security guards posted throughout campus to enforce rules, kids encouraged to report non-compliance, etc.
After having been on campus for a week, my daughter has not met nor spoken to a single person. She is in her dorm room in front of her computer at almost all times, and the only times she really leaves are when she picks up her to-go meals. This is a very depressing situation.”
College in University of Texas system
“All but made it impossible for Baptist Student Ministries to meet. Their meeting rooms are on campus and have to be cleaned 4 times a day. People have to remain 6 feet apart, mandatory masks at all times, temperature checks as people arrive, and student ID cards have to be swiped for contact tracing.”
Student “wants to fight back but feels helpless, not knowing who may be reporting her actions. Very, very Soviet-like.”
University of Dayton
“They aren’t even letting kids go to class at all … it’s all on Zoom.”
Arizona State University
“We have one of the most ridiculous systems in the country. You are supposed to submit a daily health check on the ASU app which consists of 2 questions. If by any chance you forget to do that, your college account is put on hold. I am also a student worker … and I have to sit at a desk. There is no one around me for 6ft, yet they make me wear a mask for 6 hours of my shift. They do the same to students who are in a lab and are using the computers. Even when there is no one around you you are supposed to wear a mask. I still don’t know if masks work or not but making students wear them for hours and hours is ridiculous. “
The Ohio State University
Testimonial 1:
“Interim suspensions if they break any of the “rules“ including attending/participating in on campus or off campus gatherings of more than 10. Last weekend when we moved in our child, off-campus housing, helicopters were buzzing over the houses, there are people basically roaming around and spying on kids to bust them and we knew exactly what they were looking for. Large gatherings. It’s insane. Daily check-in‘s of health prior to being allowed off campus. If you think this generation has anxiety issues before, can you imagine what they have now? I get the common sense stuff but I really wondered what country we were living in with all of this excess surveillance.”
Testimonial 2:
“In June when housing deposits were due they said ‘in person classes, no masks outside’ no mention of tests. All positive and happy and there’d be football. My daughter …really wanted to go back to college as not being there … in the college environment, isolated at home was causing a lot of depression.. so we let her go. 48 hours before the students move in week was to begin, OSU changed all the rules. It’s a dystopian hell.”
College in University of Texas system
“Everyday, I hear of some new restriction or rule that students are required to follow. Things have been even more significantly tightened even during this first week of school. Perhaps the most obvious instance is the Housing Department’s obsession with keeping students away from one another. Before the first week of school, Housing sent a decree stating that students were prohibited to have more than one guest in our apartments or dorm rooms at a time. This past Wednesday, three days after the beginning of the semester, a new email: we were now forbidden to have any guests whatsoever. Over the summer, new security cameras have been installed in the hallways of all buildings, aimed at residents’ doors.”
Johns Hopkins University
Testimonial 1:
“1. 6 weeks ago, hybrid. Everyone back but sophomores kicked out of dorms, must rent a house or off campus to make room for freshman in singles. Jrs/Srs usually live off campus.
2. 3 weeks ago reverse course. Campus CLOSED do not come back. Sorry you signed a binding legal lease.
3. Many kids in apt/houses are going back (they ARE paying rent after all), to remote learn.
4. Couple off campus kids test +.
5. Hopkins sends threatening letter…no matter where you are, if you break Hopkins rules with masks, social distancing and being with more than 10 people, you can be expelled.
6. They urge people to rat on each other, and kids start FB page just for ratting.”
Testimonial 2:
“Just dropped my son (who is an athlete) off at Johns Hopkins. They shut down. Cowards. He lives off campus. His friends at Ohio St team may quit because it’s PRISON! Other places as well. Stay in your room, meals delivered to your dorm only allowed out 3 times. Insanity.”
St Lawrence University
“1 positive case out of 2k tests. Kids limited to ‘family groups’ and no more than four in dorm room. Masks when outside dorm and wrist band indicates you can go outdoors. Very limited social interaction.”
Louisiana State University (LSU)
“Our son spent his first nights at college alone. No welcome dorm pizza party. No meeting the kids on his floor. He walked campus alone. You can’t eat in the cafeteria so take out food back to your room. Masks required everywhere, in Baton Rouge in August. Outside. I don’t know how the kids aren’t fainting. All classes online. One class is a ‘learn on your own’ and take a test. No instruction. He did manage to do virtual rush and joined a fraternity. He said it was the only way to meet anyone. His roommate did not rush and sleeps all day. The school wants them to report symptoms daily on an app. They have testing pods all over campus and want all the kids to get tested. If you do test positive they force you into a hotel – alone for 14 days. Not allowed out of the room save for one hour a day with a mask on. They turn off their room cards so they can’t escape back to their dorms. We get emails weekly advising us to support our kids getting a test and ;behaving; so they don’t have to close the campus. It’s sick. What are we doing? Why? If LSU does close and send the kids home we won’t go back. Why pay out of state tuition for Zoom? Why are we depriving our kids of their college experiences? I’m just sick about this every day. I hope someone can break thru the COVID fog and be brave. Our kids deserve it.”
Western Carolina University
“Mandatory masking inside and OUTSIDE. Cafeterias are closed with take out food and long line. Families had until Aug 1 to decide whether to send kids and accept a no refund policy if kids were sent home. This meant you were on the hook for all loans and payments even if services were no longer provided. Of course at that time, classes reported as hybrid. Two weeks in, most classes have now switched to online only.”
Miami University of Ohio
“Ordered via an email to quarantine immediately so they could contact trace athletes … Ordered into an abandoned dorm immediately that wasn’t intended to be occupied this year. No supervision or help with moving. No elevators. Not cleaned. Communal bathrooms which makes no sense. didn’t matter if u hadn’t been to parties or around anyone who tested positive. Threatened with class 2 misdemeanor by the sheriff and code of conduct violation aka loss of scholarship if u went home. Most are now finally released. Campus is now testing 3000 students a week once the general student pop returns on 9/17. At any time you can be forced back into quarantine for 14 days due to contract tracing. The students are now not wanting to be around anyone else. They are told to ‘to treat every person as If they are sick’ so they don’t get caught in a contact tracing web so they essentially are being told to not interact with others but were forced to live in double occupancy which now makes them judge everything the roommate does because if your roommate is contact traced you are forced back into jail.”
Virginia Tech
“Only 15 people allowed to gather. Masks required outside their room anywhere..inside or out. All classes are online. Only 1 person can visit room and masks must be worn. Immediate suspension if caught violating. This is inhumane. It’s prison.”
Syracuse University
“My son goes to Syracuse – entirely dorm room bound and all classes online. As he was coming from out of state he and all other out-of-staters had to arrive two weeks early and they were dorm bound and had food delivered to the rooms. He received this hysterical message sent to the students on August 20th:”
Creighton University
“11 days to get the required COVID test back. Isolated the whole time. No in person eating at the dorms as a norm. Training in the heat with masks for hours. Masks 24/7 on campus inside and out. Social isolation. 2 classes a week in person, everything else virtual. Can’t come home until end of fall semester as you can’t travel more than 100 miles from Omaha. Aren’t allowed to go anywhere or do anything except local restaurant pick ups and run to the store. If you are mildly exposed to a person with COVID, 14 day mandatory quarantine.”
College of Charleston
Anon 1: “They are forcing them to all get tested, they can’t have anyone at all in their dorms, all common areas are closed except laundry. A lot of places to eat are still closed. Charleston has a mask mandate. They’ve got these kids, especially first year students terrorized.”
Anon 2: “Mandatory masks and distancing or face suspension on 1st offense. Dorm policy even more draconian.”
College in University of Texas system
My son is a Freshman. All his classes are online. He chose to live on campus in order to experience a semblance of college life. In his giant dormitory, his room is only one with three guys. They have knocked on doors in their hall trying to meet people, and have been chastised and hassled by the RAs for being ‘radicals’ for simply reaching out to others.
The chow hall staff does not allow these roommates to sit together at the same table. Tables are a radius six feet apart. Every interaction is actively discouraged.
The general school population has adhered to the solitary confinement model. [Students] keep their heads down, masks on, and avoid even saying ‘hello’ walking around campus. My son has said their fear is palpable.”
Colgate University
“They have a very restrictive plan which we respect for managing COVID… but there’s nothing to manage the student’s personal experience. Even with negative tests… very restrictive. All classes are online. He can’t even socialize with the other students in the dorm. 1 hour outside once in a while … this was his time to mature, and become more independent. It’s been the equivalent of House Arrest with a stranger which would have been tolerable if things were allowed to open up. He can’t even go outside to speak on the phone in private.”
Rice University
“Weekly COVID tests. Can’t eat in the dining halls but are given meals in take out containers to be eaten in the dorm room. In person classes can’t be more than 25 and of course, masks required inside at all times except in your own room. Wearing mask when walking to class in the oppressive humidity. [Athletes] have to workout wearing masks! The coaches and trainers have to wear masks and face shield plus gloves. Players can’t use the locker rooms or team rooms this season! This is all crazy and sad!”
Boston College
“This is a horrible way to go to college. [Daughter] was in tears last night about the prospect of the mandatory immediate quarantine while waiting for the test, as she has heard from others that it was taking 27+ hours to get the tests back on the slow days. She is worried that she might be an asymptomatic case. A lot of people are giving these kids grief for complying with mask orders, but I can tell you that these kids are just desperate for a return to normalcy. They had everything taken away from them for 6 months, and are so afraid that it will happen again. As far as why parents would send their kids back, my daughter has a really good scholarship – [most] of her tuition is paid. We can’t risk losing it because we don’t have the means to pay for college without good financial aid. What we are doing to this generation of kids is awful … common sense has been missing from this debate for months.”
Lehigh University:
“In late July they announced the move to remote classes. This basically kicked them all off campus and caused a scramble for kids to secure off campus rental housing since the kids want to be at school. The university has all these COVID rules that they apply to these kids OFF Campus. Such as no gatherings of 10 or more people. They have enhanced their Hawk Watch security app to include one’s ability to rat out kids that are gathering together in excess. They are setting these kids up to fail at this because college kids are going to do what college kids do.”
University of Arkansas
“The housing staff, in particular the student staff, are really out for blood … the student staff wants people suspended for any and every infraction. Weve pumped so much fear down people’s throats for 6 months that I believe we are well past grace and patience.”
Wesleyan University
My child’s university is testing them twice per week & they must quarantine for two full weeks upon arrival, even if they test negative! They are not allowed visitors on campus & no one is allowed to leave, the entire semester! An asymptomatic positive test will result in isolation at a Hotel the university rented! What a scam! These are all human rights violations! No contact with friends, family or even known physicians for what, so the university can profit & the students will ‘learn’ to comply & become reliant/dependent. Kitchens are closed so they can’t even cook! No one was allowed to help them move in either! Single girls were literally trying to lug refrigerators across campus & up flights of stairs. No help was provided or allowed! As you probably know, many dorms do not have air conditioning.”
University of Wyoming
I can attest the stories coming out of universities really are as bad as people claim. They are online with classes until the end of September when kids will attend massively socially distanced/ hybrid classes. After the thanksgiving break, students then will leave campus and have finals online. We are being sent COVID saliva tests and any positives are treated like the plague even though there’s not a single case on campus. My university isn’t as bad as the others mentioned but I have a feeling when they get back to campus things will be worse. Im taking this as a gap year because I refused to comply with the draconian mask orders. It was bad enough I had to pay for three months rent after vacating school last month.”
University in PAC-12 Conference
My daughter had three COVID tests (they lost one) and an antibody test that she actually tested positive for. She had COVID in March. They told her that because she tested positive for the antibodies they were going to treat it as COVID and have her isolate until they could do a heart screening. She could not participate in her sport until done. We, her parents, asked if we could have her get a heart screening from a local doctor so to expedite things. They said no, they only want their own team to do the screenings. To top things off, she has to go before a counsel on Monday to defend herself from being at a gathering of no more than 30 people where someone has tested positive for Covid. She was told there could be a consequence for her actions.”
Baylor University
“The university has announced that there will be weekly mandatory tests … If any student refuses to take the COVID-19 test, they are subject to suspension or expulsion.
Students are not making friends with their classmates … No one can recognize who’s who with a mask on, so there has been a significant increase of phone usage on campus and a significant decrease of socialization. Students show up for their in-person class, sit there, and head back to their apartment as soon as they are finished with classes.
Everyone expects to move online before the semester is over. We all suspect that the university is postponing the move so that they can get the full tuition without much grounds for a lawsuit.”
Colorado State University Pueblo
“My daughter … was there not even 24 hours and was sent to quarantine because she ‘might’ have come into contact with someone who was in contact with someone who tested positive for the virus. They made the students leave their own rooms and moved them into a room and they couldn’t bring their own bedding. The food they drop off is a frozen sandwich, orange, chips and soda The have to stay there for 14 days and won’t even test them. No outside testing is even allowed. The admin don’t know what they’re doing nor do they let them outside. They make the locks not work.”
Collegein Alabama
“The plan was to have in person classes, but a few weeks before the fall semester, everything went online. Even chemistry is being taught online, which truly boggles my mind.
No in person tutoring sessions, no student activities, and virtual advising appointments are being pushed heavily. Students in the dorms (because somehow it’s safe to have people living on campus, but not going to class there?), must wear a mask in any of the dorm common areas, and congregating is only allowed in the laundry room and kitchen. No visitors. To their credit, they’re sending students who test positive home instead of locking them up on campus, but they’re only being given 24 hours to vacate the dorm. We get students from all over the state, not just local kids. And contact tracing is being pushed even if someone has a slight fever and nothing else.”
University of North Alabama
“We’re not allowed to have any visitors, nor are we allowed to go anywhere on campus without a mask. This makes no sense to me considering many of my peers commute and do not wear a mask at home and see different people every single day. I was also randomly selected, along with another 25% of the student population, to go get another COVID test done even though I was already tested a little over two weeks ago, receiving a negative test, showing no symptoms and completing my health check every day saying I don’t have any symptoms. And finally, most of my classes have been moved online due to COVID and social distancing.”
It is heartbreaking to read of the forced conversion of an often positive and social campus life into a degrading and isolating confinement.
* * *
Thanks for reading! I would be honored if you are willing to support my work and subscribe to The Mass Illusion, my newsletter for people concerned about our “new normal.”
h/t Kirk
via ZeroHedge News https://ift.tt/3jvy2Jy Tyler Durden
S&P Set To Open At New Record High; Tesla, Apple Trade Post-Split Tyler Durden
Mon, 08/31/2020 – 08:13
The melt-up continues: S&P futures rose on Monday for the eighth session in a row alongside European markets, despite fading some of their earlier gains after setting fresh all time highs on Friday amid investor confidence that central bank support will prop up risk for years, setting up the S&P 500 for its best August in over three decades.
The three main US indexes are set for their fifth straight monthly rise following this year’s March lows, with the S&P 500 looking at its biggest percentage rise in August since 1984, even as economic data pointed to an uneven recovery from the steep downturn. Among early movers, Aimmune Therapeutics more than doubled premarket after Swiss food group Nestle offered to pay $2 billion for full ownership of the peanut allergy treatment maker to expand its fast-growing health science business.
Apple gained 1.5% to $126.64…
while Tesla initially spiked to a new all time high, rising to $470 before reversing in a $22 billion swing, as both stocks became “less costly” after their pre-announced stock splits took effect.
Shares of the Cupertino company, which have rallied nearly 30% since it announced its surprise 4-for-1 stock split and blockbuster quarterly results on July 30, were priced at $126.56, up 1.4% when compared to Friday’s split-adjusted close, in pre-market trade. It will be Apple’s latest stock split since a 7-for-1 move in 2014 and its fifth since going public in 1980. Apple shares closed at $499.23 before the split on Friday, up 70% this year, a rally which helped the iPhone maker overtake Saudi Aramco as the world’s most valuable publicly listed company and become the first publicly listed U.S. company to breach $2 trillion in market capitalization.
Tesla followed suit earlier this month by announcing a 5-for-1 split to portion its richly valued stock into smaller chunks, which also takes effect on Monday. Tesla’s stock has surged more than five-fold this year, while shares of General Motors and Ford Motor declined on fallout from the COVID-19 pandemic. Shares of Tesla, up 61% since it announced what is its first stock split in mid-August, closed at $2,213.4 on Friday. They were priced up 2.33% at $453 when counted at their post-split value in pre-market on Monday.
The unprecedented surges driven entirely by stock split news have stunned market watchers because while in theory no new value was created, the fact that “more” retail daytraders can now purchase the stocks was seen as a catalyst to push them higher, even though online brokerages Robinhood, Charles Schwab Corp and Fidelity, along with several smaller shops, have begun offering slices of individual shares.
In Europe, the Stoxx Europe 600 Index rose 0.5% as of 10:30 a.m. in London, with automakers and energy shares advancing the most among sectors. Mining shares also outperformed along with utilities including Suez SA, which jumped after an approach by rival Veolia Environnement SA. The Stoxx Europe 600 Oil & Gas Index gained as much as 1.5% to lead gains among sectors as the price of Brent crude price climbed to the highest since early March with traders focusing on demand recovery. European energy gauge extends gain in Aug. to 5.7%, after retreating 5.4% in July. London markets are closed for a public holiday
Earlier in the session, Asian stocks fell, led by communications and IT, after rising in the last session. Japanese stocks outperformed peers in Asia, the Topix Index gaining 0.8%, bolstered by Berkshire Hathaway’s purchase of stakes in five major trading companies in one of billionaire Warren Buffett’s biggest investments in the nation. Aside for Japan, most markets in the region were down, with Jakarta Composite dropping 2% and India’s S&P BSE Sensex Index falling 1.6%. Trading volume for MSCI Asia Pacific Index members was 22% above the monthly average for this time of the day. The Topix gained 0.8%, with Artra and Segue rising the most. The Shanghai Composite Index retreated 0.2%, with Zoy Home Furnishing and Tibet Tourism posting the biggest slides.
Chinese economic activity continued to rebound in August as the world’s second- largest economy emerges from the virus slump. The August Manufacturing PMI from the National Bureau of Statistics (NBS) signaled a continued recovery in overall activity. The NBS manufacturing PMI stayed solid at 51.0 in August (despite being 0.1pp lower than July). The NBS non-manufacturing PMI rose in August as the services PMI climbed to the highest level since early 2018. The construction PMI was modestly lower but remained strong in absolute terms.
China official NBS manufacturing PMI: 51.0 in August (GS forecast: 51.1, Bloomberg consensus: 51.2), vs. 51.1 in July.
Official non-manufacturing PMI: 55.2 in August, vs. 54.2 in July.
The Chinese PMI data gave investors some renewed comfort in the global economy’s reemergence from virus shutdowns. The eurozone on Tuesday publishes manufacturing and inflation data, followed by U.S. jobs numbers on Thursday and Friday. Inflation readingsfrom Spain, Italy and several German states are well below where the region’s central bank wants them to be.Still, with coronavirus infections in the U.S. ticking up again, India becoming the world’s epicenter for new cases, and the worldwide total surpassing 25 million, the pandemic is far from beaten.
“While momentum has slowed in light of rising cases, in the U.S. in July and in Europe in August, the economic recovery continues to unfold,” Esty Dwek, head of global market strategy at Natixis Investment Managers Solutions, said in a note. “Central banks have already stated they would remain ultra-accommodative for a long time. Risk assets are likely to remain supported, even if the ride will probably be bumpy.”
In FX, the Bloomberg dollar index edged up with U.S. equity futures while Treasuries steadied amid month-end positioning. The pound weakened versus the euro after a news report said U.K. Treasury officials are pushing for significant tax increases. The country’s stock and bond markets are closed for a public holiday. The yen gave back some of Friday’s gain, the biggest in five months, as Japan searched for a new prime minister following Abe’s surprising resignation.
In rates, treasury futures were lower on anemic volume with U.K. on holiday, leaving yields cheaper by less than 2bp across the curve. Month-end flows may provide support, while no U.S. coupon auctions this week puts data in focus, especially ISM manufacturing Tuesday and August jobs report Friday. 10-year yields around 0.74%, cheaper by 1.6bp vs Friday’s close with 2s10s and 5s30s steeper by ~1bp; 5s30s at 124bp is within 5bp of its June 5 YTD high; stock futures remain higher, off best levels of the day. Long end may begin to find support from the approach of month-end index rebalancing that’s been inflated by growth in issuance, at 3pm ET.
In commodities, West Texas crude oil advanced above $43 a barrel, while Brent jumped 3% to $46.33, the highest price since the March crash. Silver rose, outperforming gold.
U.S. presidential campaigns are set to take center-stage in the coming weeks with market volatility expected to spike ahead of polling in November. At 1030am ET we get the Dallas Fed Mfg Activity (est. 0, prior -3), while Catalent and Zoom Video are reporting earnings.
Market Snapshot
S&P 500 futures up 0.4% to 3,516.75
MXAP down 0.7% to 172.93
MXAPJ down 1.2% to 571.92
Nikkei up 1.1% to 23,139.76
Topix up 0.8% to 1,618.18
Hang Seng Index down 1% to 25,177.05
Shanghai Composite down 0.2% to 3,395.68
Sensex down 1.8% to 38,757.94
Australia S&P/ASX 200 down 0.2% to 6,060.46
Kospi down 1.2% to 2,326.17
STOXX Europe 600 up 0.6% to 371.09
German 10Y yield rose 1.5 bps to -0.394%
Euro down 0.1% to $1.1886
Italian 10Y yield rose 2.4 bps to 0.918%
Spanish 10Y yield rose 1.4 bps to 0.393%
Brent futures up 1.4% to $46.44/bbl
Gold spot down 0.3% to $1,958.42
U.S. Dollar Index little changed at 92.37
Top Overnight News
There isn’t any urgency for the Federal Reserve to offer more clarity on how long it will hold interest rates near zero at the moment because investors already understand the central bank won’t be tightening for a while, Minneapolis Fed President Neel Kashkari said
Figures from Italy’s statistics office, Istat, showed that the nation’s economy shrank 12.8% in the second quarter; household spending fell 11.3% in the second quarter, and exports dropped 26.4%
India is fast becoming the world’s new virus epicenter, setting a record for the biggest single-day rise in cases as experts predict that it’ll soon pass Brazil — and ultimately the U.S. — as the worst outbreak globally
Chinese economic activity continued to rebound in August, with a gauge of the services industry at the strongest level since early 2018 while the expansion in manufacturing activity slowed slightly
A quick look around global markets courtesy of NewsSquawk:
Asian equity markets were mostly higher amid tailwinds from last Friday’s gains on Wall St where the S&P 500 extended on record highs and is on course for its best August performance in more than 3 decades, helped by the recent big-tech surge and dovish undertones from last week’s Jackson Hole Symposium. ASX 200 (-0.2%) and Nikkei 225 (+1.1%) were both positive but with gains in Australia’s benchmark capped by mixed fortunes among the mining names and varied data releases, while sentiment in Tokyo was buoyed after stronger than expected Industrial Production which showed the largest M/M increase on record and on hopes of political continuity after reports that staunch Abe loyalist and current Chief Cabinet Secretary Suga is to run in the LDP elections to succeed PM Abe. Furthermore, the biggest gainers in Japan have been the largest general trading companies after Berkshire Hathaway acquired at least a 5% stake in the industry leaders including Itochu Corp. (8001 JT), Marubeni Corp. (8002 JT), Mitsui & Co. (8031 JT), Mitsubishi Corp. (8058 JT) and Sumitomo Corp. (8053 JT). Hang Seng (-1.0%) and Shanghai Comp. (-0.2%) also conformed to the upbeat tone despite mixed PMI data in which headline Manufacturing PMI missed expectations although remained in expansionary territory, while Non-Manufacturing PMI was the highest since January 2018 and Composite PMI also improved. There was a slew of earnings from China including the Big 4 banks which all showed weaker profits and China’s largest oil company Sinopec posted its first loss since 2003, although the weaker results failed to dent the risk appetite with the relevant companies all sitting on respectable gains, while concerns regarding the sale of TikTok after China tightened tech export rules were also brushed aside. Finally, 10yr JGBs were initially lacklustre and briefly slipped below 151.50 with demand for bonds subdued by the heightened risk appetite in Japan, although downside was later reversed amid the BoJ presence in the market for JPY 870bln of JGBs predominantly focused on 1yr-5yr maturities.
Top Asian News
China’s Economic Recovery Continues on Strong Services
Reliance Buys Future Assets for $3.4 Billion; Bonds Jump
Israel’s El Al Pilot Says UAE Flight to Pass Over Saudi Arabia
Credit Suisse Plans to Double China Headcount in Five Years
European stocks kick the week off on a firm footing (Euro Stoxx 50 +0.3%) but have drifted off of opening highs heading into month end, as the region coattails on the lead from Wall Street on Friday; while, initially at least, brushing off the overall downbeat APAC performance. Note, UK markets remain closed on account of Summer Bank Holiday. Sectors trade modestly higher across the board with a mild cyclical/value bias; utilities are the marked outperformer on the back of Suez (+18.8%) after Veolia (+3.4%) is offering to purchase ~30% of the group from Engie (+6.3%) for EUR 15.50/shr, amid speculation, since confirmed, that such a move would be a precursor to launching a takeover bid. Other notable movers include Sanofi (+0.3%), whose CEO noted that recent data has increased confidence in the success of the group’s two COVID-19 vaccine candidates. Nestle (+0.7%) is higher after stating it is to purchase Aimmune for USD 34.50/shr totaling USD 2.6bln, with the deal expected to close in Q4. On the other end of the spectrum, Natixis (-2.0%) is pressured as its H20 asset management arm is to temporarily suspend some of its funds, albeit this is not set to have a financial impact on Natixis.
Top European News
Wirecard Inquiry Zooms In on Why Germany Missed Fraud of Century
Philips Cuts Outlook After U.S. Slashes Ventilator Contract
Regulator Tells H2O to Freeze Funds on Valuation Uncertainty
Italy Plunged Into Recession by Investment, Consumer Slump
In FX, it remains to be seen whether the Dollar succumbs to remaining month end selling and the usual 4 pm scramble to complete portfolio rebalancing requirements, but for now the Buck is clawing back lost ground and declines against the Yen in particular after Japanese PM Abe confirmed his departure last Friday. In fact, the Greenback on a firmer footing vs most G10 counterparts and the DXY has bounced from a 92.142 low to 92.480 at best awaiting comments from Fed’s Clarida and Bostic alongside the Dallas Fed manufacturing business index for any further opinion on the new flexible average inflation targeting regime.
JPY – Not quite zero from hero, but the Yen has retreated further from post-Abe peaks amidst reports that staunch supporter and current Cabinet Secretary Suga is in the running to become new LDP leader. Usd/Jpy is now nudging through 105.90 and also taking on board remarks from another challenger to takeover as PM, as Ishiba contends that there is no need to radically change Abenomics or monetary easing, adding that a weaker Yen is not preferable in his view.
GBP – The next weak major link, and perhaps the Pound is taking note of Brexit news and media speculation suggesting that the UK is prepared to walk away from negotiations with the EU if Brussels does not back down on its demand for alignment with state aid rules. Cable is struggling to keep hold of 1.3300, albeit with volumes lighter than normal due to the August Bank Holiday.
AUD/NZD/EUR – Also unwinding recent gains/outperformance vs the US Dollar as the Aussie fades ahead of 0.7400 in wake of mixed data (Q2 business inventories fell 3 times more than forecast, but company profits rebounded from -7.5% to +15%) and pre-RBA, while the Kiwi has stalled around 0.6750 following deteriorations in ANZ business sentiment and the activity outlook. Elsewhere, the Euro is straddling the 1.1900 handle amidst benign German state, Spanish and Italian national CPI data, but also wary of hefty option expiry interest at the strike in 1.5 bn.
CAD/CHF – The Loonie is bucking the broad trend and holding 1.3100+ status against the backdrop of firm crude prices and awaiting Canadian data in the form of building permits and ppi, while the Franc is meandering between 0.9050-25 after an acceleration in Swiss retail sales and not really hindered by latest increases in bank sight deposits.
SCANDI/EM – The aforementioned buoyancy in oil and no change in daily FX purchases by the Norges Bank for September appear to be underpinning the Nok, while the Try has derived some support from Turkish GDP defying expectations for a steeper contraction and the Cnh via another firmer PBoC Cny midpoint fix rather than somewhat mixed official Chinese PMIs.
In commodities, WTI Oct and Brent Nov futures continue grinding higher in early European trade as the benchmarks remain supported by overall sentiment. An uptick in prices coincided with source reports that UAE’s ADNOC are reportedly to cut October crude oil term supplies to Asia customers by 30% across all grades. In terms of Gulf of Mexico developments, BSEE estimates of shut in for Gulf of Mexico production at 69.76% vs. Prev. 82.13% following Hurricane Laura. Meanwhile, Goldman Sachs which anticipates Brent prices to reach USD 65/bbl by Q3 next year. WTI Oct has tested USD 43.50/bbl to the upside (vs. low USD 42.90/bbl), whilst Brent Nov is yet to convincingly breach USD 46.50/bbl after printing an overnight base at USD 45.80/bbl. Elsewhere, spot gold falls victim to the firming Dollar and trickles lower from overnight highs of USD 1976/oz closer towards USD 1950/oz. Spot silver conversely remains supported around the USD 27.75/oz area. In terms of base metals, Shanghai copper posted its fifth consecutive month of gains – with robust construction and infrastructure activities keeping the red metal buoyed.
US Event Calendar
9am: Fed Vice Chair Clarida Speaks on Monetary Policy Framework
10:30am: Dallas Fed Manf. Activity, est. 0, prior -3
10:30am: Fed’s Bostic Gives remarks to Florida Philanthropic Network
via ZeroHedge News https://ift.tt/31GicFX Tyler Durden
8/31/1995: Students at Santa Fe Independent School District voted to allow a student to say a prayer at football games. In Santa Fe Independent School Dist. v. Doe (2000), the Supreme Court declared this prayer unconstitutional.
The Rehnquist Court
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More Than Half Of Those Arrested During 7 Days Of Kenosha Unrest Were From Out Of Town, Police Chief Says Tyler Durden
Mon, 08/31/2020 – 07:12
“Largely peaceful” protests have continued in Kenosha, Wisconsin every night since Jacob Blake was shot by a local cop while purportedly reaching for a knife hidden in a vehicle (a vehicle which was also carrying his children at the time). Blake has reportedly been paralyzed from the shots – for now, at least – but an upsurge of pressure from the ACLU has at least prompted deputies to uncuff him from his hospital bed.
The wheels of justice sometimes turn slowly, yet we suspect it’s only a matter of time before the charges Blake is facing from an unrelated May assault case are dropped.
While the violence has toned down somewhat since Kyle Rittenhouse allegedly shot three people, killing 2 of them, during a confrontation Tuesday night – while he’s been charged with first degree murder his attorneys are mounting a case of self defense – police continued to make arrests Sunday night, seizing guns and other weapons, while also charging some for violating curfew and other local orders.
Since the demonstrations started7 days ago, Kenosha police have arrested 175 people. But here’s the thing: more than half of them – 102 – listed addresses from outside the city (for those who are wondering, Rittenhouse – who lives with his parents over the boarder in Antioch, Illinois (he’s 17), roughly 30 minutes from Kenosha – wasn’t included in the data because he was apprehended in Illinois).
Those arrested and processed were from 44 different cities, according to Kenosha Police Chief Daniel Miskinis, who issued a press release late last night.
Kenosha police will not be taking part in a media briefing Monday afternoon “in preparation for the Presidential visit to Kenosha” on Tuesday, so Chief Miskinis “is providing the community with some preliminary data for the preceding week in lieu of KPD’s participation” in the typical press briefings.
One wonders whether these demonstrations would be carrying on like they have if it weren’t for this accessibility – but that’s a topic for another day.
69 people were arrested for curfew violations, but many of those detained were also hit with other charges, ranging from possession of a controlled substance, to gun possession. Kenosha police have seized 20 guns so far, according to Chief Miskinis.
A curfew that was supposed to expire last night has been extended through Wednesday. So we suspect this number will continue to climb.
Sen. Tom Cotton reminds us that while the violence, looting and vandalism has quieted down, rioters still torched half a dozen buildings, including not just small businesses, but they tried to burn down a state corrections facility. Locals emerged the the next morning to a horrifying scene, Fox News reports.
But the problem won’t go away – rather, it will simply spread – if local officials don’t step in and stop the violence.
via ZeroHedge News https://ift.tt/3lzc6PO Tyler Durden
Trump Slams “Do Nothing Democrat Mayor Of Portland” After Wheeler Blames President For Violence Tyler Durden
Mon, 08/31/2020 – 06:13
President Trump has slammed Portland Mayor Ted Wheeler, who placed the blame for nationwide violence squarely on the president’s shoulders on Sunday following the Saturday night killing of a Trump supporter on the streets of Portland.
“Ted Wheeler, the wacky Radical Left Do Nothing Democrat Mayor of Portland, who has watched great death and destruction of his City during his tenure, thinks this lawless situation should go on forever,” Trump tweeted on Sunday – adding “He tried mixing with the Agitators and Anarchists and they mocked him.”
….He tried mixing with the Agitators and Anarchists and they mocked him. He would like to blame me and the Federal Government for going in, but he hasn’t seen anything yet. We have only been there with a small group to defend our U.S. Courthouse, because he couldn’t do it….
..The people of Portland, like all other cities & parts of our great Country, want Law & Order. The Radical Left Democrat Mayors, like the dummy running Portland, or the guy right now in his basement unwilling to lead or even speak out against crime, will never be able to do it!
Earlier Sunday, Wheeler blamed Trump for the violence.
Ted Wheeler has blood on his hands. He decided to play politics and refused @realDonaldTrump‘s offer to send the National Guard to end the riots and now an innocent Trump supporter is dead at the hands of the radical leftwing mob because of it. He’s a disgrace!!! https://t.co/3PDkiOxfhT
When asked what his solution is to the violence gripping Portland, the mayor suggested that he’ll be pushing for criminal justice reform – which will be accomplished by “Re-imagining what local policing can look like.”
Portland Mayor Ted Wheeler is asked what he’s going to do to prevent more violence. He says to continue pushing criminal justice reform and redirecting some police funding to other purposes. Big job: ‘Re-imagining what local policing can look like.’
Update (1620ET): Joe Biden’s handlers have crafted a carefully written condemnation following the Portland shooting – which essentially boils down to “violence is bad.”
“I condemn violence of every kind by anyone, whether on the left or the right. And I challenge Donald Trump to do the same,” reads the statement, which continues: “We must not become a country at war with ourselves.”
Biden’s staff then took aim at President Trump, writing “The job of a President is to lower the temperature. To bring people who disagree with one another together. To make life better for all Americans, not just those who agree with us, support us, or vote for us.”
Biden’s statement places zero percent of the blame on Antifa, BLM, or even the shooter himself and puts all of the blame on Trump and conservatives. This is cowardly, cynical, reckless, and it reveals all of that “Biden is such a decent guy” stuff to be pure bullshit. https://t.co/qtkGCd8RpQ
The former VP must have missed that ‘all Americans’ were enjoying the best economy in decades before the pandemic hit. Over 7 million jobs had been created, minority unemployment hit all-time lows, women’s unemployment hit a 65-year low, the stock market hit record highs, and the poverty rate fell to a 17-year low.
Life was better for all Americans until the pandemic hit.
The left has cheered Biden’s condemnation.
For Biden, this condemnation of violence on all sides comes naturally and sincerely. For Trump, it’s inevitably one-sided except when he’s being blatantly hypocritical. https://t.co/j3XuQ0nq55
Our great National Guard could solve these problems in less than 1 hour. Local authorities must ask before it is too late. People of Portland, and other Democrat run cities, are disgusted with Schumer, Pelosi, and thier local “leaders”. They want Law & Order! https://t.co/f6LOKcf7BU
Also on Sunday, Politico reported that Biden is going to pass on visiting Kenosha, Wisconsin on Monday despite the fact that he is expected to travel. President Trump is scheduled to visit the riot-stricken city on Tuesday.
The thinking, according to these people, is that Trump’s trip to Kenosha could backfire on the president. The Biden campaign is ramping up its messaging that the unrest in the city and elsewhere is an outgrowth of the president’s rhetoric that inflames racial tensions.
Trump announced a trip to Kenosha as he attempted to claim credit for calm on the streets of Kenosha after he made a call to bring in the National Guard.
“Success: Since the National Guard moved into Kenosha, Wisconsin, two days ago, there has been NO FURTHER VIOLENCE, not even a small problem,” Trump tweeted on Friday. “When legally asked to help by local authorities, the Federal Government will act and quickly succeed. Are you listening Portland?” –Politico
The shooter in Portland’s Saturday night murder is still at large.
* * *
Summary:
An alleged Trump supporter was shot dead in Portland late on Saturday as protesters from rival groups clashed in the northwest U.S. city, which has seen frequent demonstrations for months that have at times turned violent. Sounds of gunfire were heard in the area of Southeast 3rd Avenue and Southwest Alder Street, according to the spokesman’s statement.
Police said in statements that both the death and protest violence occurred in downtown Portland. However, they did not immediately link the shooting death to the protests.
“(Police) responded and located a victim with a gunshot wound to the chest. Medical responded and determined that the victim was deceased,” a Portland police spokesman said in an emailed statement. A Homicide Investigation is underway.”
The police said they were not currently releasing suspect information.
The New York Times and the Oregonian newspapers reported that a large group of supporters of President Donald Trump had traveled in a caravan through downtown Portland, with a pro-Trump gathering drawing hundreds of trucks full of supporters into the city. The Times cited two unidentified witnesses as saying a small group of people got into an argument with other people in a vehicle and someone opened fire.
The man who was shot and killed was wearing a hat with the insignia of Patriot Prayer, a far-right group based in Portland that has clashed with protesters in the past, according to the New York Times. Reuters could not independently verify this.
When asked by Reuters if the shooting was related to clashes between rival protesters in the same area, the spokesman said “it is too early in the investigation to draw those kinds of conclusions”.
Meanwhile, Twitter is labeling this advertisement ‘manipulated media.’
* * *
Update (1220ET): New footage has emerged suggesting that the shooter may have been in a vehicle.
New never before seen footage of the shooting of the Trump supporter in Portland, Oregon on August 29. pic.twitter.com/6QQzZOjWJq
Update: (0300ET): Portland protesters are now celebrating the man’s death:
“I am not sad that a f**king fascist died tonight,” yells a female Antifa militant at a gathering in downtown Portland. The crowd laughs and cheers. The victim was a Trump supporter. pic.twitter.com/XK4Czzseia
A large effort is underway to identify the shooter, which – if he’s the man in the below clip (unconfirmed), was misidentified as a black male earlier in the evening.
Portland shooter is 100% part of BLM/Antifa. He’s all over the video 7-8 mins earlier next to the bullhorn guy.
White kid in sandals talking to a girl in a striped dress.
He said to her “Hey, I hope I didn’t scare you earlier.” 3 mins before he shoots the Trump supporter. pic.twitter.com/tH4Lx0hfGi
A Trump supporter was murdered tonight in Portland. No one will riot in his name or donate millions to his family because he wasn’t shot by the police while resisting arrest.
Instead he is being smeared as a white supremacist, an extremist, and a terrorist, for being killed.
BLM leader: “I want to to put these police in a f—ing grave … I want to f—ing burn the White House down… I f—k police up in New York, I f—k police up in DC”pic.twitter.com/x2Defrrxar
A man was shot in the chest and killed in downtown Portland Saturday night as violence broke out across the city between a participants in a pro-Trump caravan and a protest organized by several opposing groups, including Antifa.
Police are investigating the incident which occurred at around 8:45 p.m. when officers responded to the sound of gunfire.
According to The Oregonian, police found “camouflage gear with infidel and thin blue line patches, which commonly indicate support for law enforcement, while the New York Times reports that he was “wearing a hat with the insignia of Patriot Prayer,” a right-wing group which has had frequent altercations with Antifa over the past several years.
(Real) Medics tried to save the shooting victim in downtown Portland. It is a white male contrary to what antifa journalists and accounts said about it being a black victim. pic.twitter.com/jzE2ffqN73
Patriot Prayer founder Joey Gibson showed up to the scene of the shooting, and was promptly chased down the street by orotesters. Gibson took refuge in a gas station.
Earlier in the day, pro-Trump supporters and left-wing protesters squared off. At one point, a man reportedly filming the license plates of conservative attendees was beaten. As he falls, you can see his arms fly straight forward in the ‘fencing response,’ suggesting possible brain damage. He was later interviewed speaking coherently, however.
8/31/1995: Students at Santa Fe Independent School District voted to allow a student to say a prayer at football games. In Santa Fe Independent School Dist. v. Doe (2000), the Supreme Court declared this prayer unconstitutional.
The Rehnquist Court
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‘100% Antifa’: Portland Police Investigate Suspect Identified By 4Chan Hours After Shooting; Sister Confirms Tyler Durden
Mon, 08/31/2020 – 06:30
Portland police are investigating a 48-year-old man in the fatal shooting of a Trump supporter on Saturday night, according to Oregon Live, citing sources familiar with the case but not authorized to discuss it. He was also identified as the man captured in photos and video leaving the scene of the shooting just before 9 p.m. on Saturday.
Hours after the murder of Patriot Prayer supporter Aaron Danielson (a.k.a. Jay) was captured on grainy film, users of the popular image board 4Chan used video footage and social media evidence to correctly identify the suspected shooter as Michael Forest Reinoehl, a former snowboard pro, construction worker and self-admitted member of Antifa, as reported on Sunday by Summit News and The Gateway Pundit.
Reinoehl’s sister confirmed it was him:
Reinoehl’s 36-year-old sister said she was awakened just before 8 a.m. Sunday by a threatening phone call from someone who told her that “our whole family was in danger unless we turned him over.”
“That’s how I found out,” that her brother was allegedly involved, she told The Oregonian/OregonLive.
She called Sandy police to report the threat, she said. Once she looked online and saw screenshots of her brother’s photo, she said she called Portland detectives.
“We reached out to police and confirmed that we recognized Michael in the screenshots,” she said. She asked that her name not be used because of the threats.
Michael Reinoehl has been estranged from the family – including her, their parents and a younger brother – for at least three years, his sister said. –The Oregonian
“Every Revolution needs people that are willing and ready to fight. There are so many of us protesters that are just protesting without a clue of where that will lead. That’s just the beginning that’s that where the fight starts. If that’s as far as you can take it thank you for your participation but please stand aside and support the ones that are willing to fight. I am 100 % ANTIFA all the way! I am willing to fight for my brothers and sisters! … We do not want violence but we will not run from it either! … Today’s protesters and antifa are my brothers in arms,” Reinoehl wrote in a June 16 Instagram post.
Michael Forest Reinoehl, Instagram
Reinoehl was arrested two months ago – and faces charges including unlawful possession of a gun, driving while under the influence of a controlled substance, driving while suspended and uninsured and recklessly endangering another after he was busted on June 8th street racing various other drivers, including his 17-year-old son, at speeds up to 111 mph while his 11-year-old daughter was in the car, according to police.
A loaded Glock pistol, “unidentified prescription pills,” and marijuana were found inside the car. A month later, he was busted again.
Reinoehl’s posts indicate he attended many protests in Portland that began three months ago after the death of George Floyd in Minneapolis under the knee of a police officer.
On July 5 at one of the demonstrations, Reinoehl was cited at 2:10 a.m. in the 700 block of Southwest Main Street on allegations of possessing a loaded gun in a public place, resisting arrest and interfering with police
He was given a date to appear in court later that month, but the allegations were dropped on July 30 with a “no complaint,” according to court records. The documents don’t indicate why prosecutors decided not to pursue the accusations. Reinoehl spent no time behind bars. –Oregon Live
Meanwhile, Danielson’s murder may have been part of an organized hit – as people can be heard in footage of the incident shouting “We’ve got one right here! We’ve got a couple of them right here!” before gunshots could be heard.
– We’ve got one right here! We’ve got a couple of them right here!
– Right here?
Bang! Bang!
It was an execution.
The blood of this man is on the head of feckless leftist leaders like Ted Wheeler! What did he thing was going to happen after 100 days of violence and chaos?
Interestingly, a woman identified as Sierra Boyne who could be seen rushing to Danielson’s aid following the shooting claims to be a medic who was shoo’d away from the victim, andhas asked for donations – yet her Twitter profile says she’s a ‘tired college student and aspiring model.’
Given the fact that she was on scene within seconds, police may want to talk to her about the incident.
Interestingly, Reinoehl was interviewed by Bloomberg in late July, where a BLM tattoo was matched to footage of him from Saturday night.
Collage of Reinoehl via 4Chan
According to Oregon Live: “Video images of the fatal shooting captured a tall, thin white man in a hat and white tube socks running from the scene at Southwest Third Avenue and Alder Street around 8:45 p.m. Screenshots zeroed in a tattoo of a fist on the man’s neck.
The grainy video and other photos, together with witness statements from live streamer Justin Dunlap, suggest the victim may have used some type of mace or pepper spray and then collapsed after gunshots ring out.”
Read the rest of the report here, which includes more disturbing posts on social media.
via ZeroHedge News https://ift.tt/32H3rSt Tyler Durden
In recent months, the world’s biggest oil exporter, Saudi Arabia, has lost market share in China to the United States as the world’s top oil importer has boosted imports from America and reduced purchases from the Kingdom. China has imported record volumes of crude oil in recent months, taking advantage of the lowest crude prices in two decades in April stock up on dirt-cheap oil.
In their bargain-hunting for low-priced oil, Chinese state oil giants and independent refiners alike snapped up cheap U.S. cargoes in April, which were loaded in May, started to arrive in China in June, and set records in July.
At the same time, Chinese oil imports from Saudi Arabia – after hitting all-time highs in May and June thanks to the bargain prices the Saudis offered in the brief price war for market share in March and April – slipped in July as availability of crude from the Middle East shrank after May with the OPEC+ cuts.
Chinese refiners were opportunistic buyers of crude in March and April, and given the shorter tanker travel time between the Middle East and China, compared to the U.S.-China route, Chinese imports of crude oil from Saudi Arabia slumped as early as in July from the record highs of the previous two months. Meanwhile, the roughly 45-day route from the U.S. to China means that the cheap American crude oil loaded in May started arriving in China en masse in July.
Last month, Saudi Arabia slipped to the third spot on the list of China’s key oil suppliers behind Russia and Iraq—the first time in two years that the Kingdom has not been the number-one or number-two oil supplier to the world’s top oil importer.
The OPEC+ production cuts have surely played a role in Chinese buyer preferences. The lower exports from the Middle East tightened the availability of those grades, pushing up the price of the Middle East Oman/Dubai benchmark, against which the Gulf oil producers price their oil going to Asia.
While Saudi Arabia’s oil exports to China in July declined by 23.4 percent to 1.26 million barrels per day (bpd) – making Saudi Arabia China’s third-largest oil supplier – Chinese imports of U.S. crude oil soared by 139 percent year over year, to around 864,200 bpd, placing America at the fifth place among Chinese suppliers.
To compare, in each of May and June, China imported 2.16 million bpd of Saudi crude, a record high. Saudi Arabia has lost market share in China not only to the U.S. but also to Brazil, estimates from Reuters columnist Clyde Russell show.
The key reason for this development was similar to the reason for the high imports from the U.S.—China going bargain-hunting for ultra-cheap crude oil when prices crashed in March and April, courtesy of the Saudi-Russian oil price war, among other, pandemic-related, things.
Data from Refinitiv Eikon suggests that China’s U.S. crude oil imports will continue to be strong in August, while the visibility for September and afterwards is somewhat lower, although a recent Bloomberg report suggested that China had chartered tankers that could deliver as much as 37 million barrels of crude oil from the United States in September—a possible record high.
In August, Saudi Arabia is not ramping up its crude oil exports just yet, despite the fact that the OPEC+ group is easing the production cuts by a collective 2 million bpd as of August 1.
After September, the Saudis could claw back some market share lost to the U.S. (and Brazil) over the past two months, as the opportunistic Chinese buying of American oil may have come to an end, Reuters’ Russell argues.
Despite increased purchases of U.S. oil in recent months, analysts do not believe that China’s primary motivation for this has been trying to fulfill its pledge in the Phase 1 U.S.-China trade deal to buy much more U.S. energy products. The record-high monthly imports of oil from America were instead the result of the bargain-hunting for cheap oil during the March-April price rout.
Saudi Arabia has a chance to boost its market share in China again at some point by the end of the year. But it will not be the Saudis that will dictate the market—it will be demand and refining margins in Asia, the price differentials of grades from various regions, and, of course, China’s policy of oil purchases going forward.
via ZeroHedge News https://ift.tt/3baqby4 Tyler Durden
