NYT Suggests CNN, BuzzFeed Peddled “Fake News”

In a fascinating retort by the NYT to the story of the day, namely the CNN-BuzzFeed narrative based on an unverified 35-page memo allegedly prepared by a UK intelligence officer, even the paper of record takes the two media outlets to town, and in an article titled “BuzzFeed Posts Unverified Claims on Trump, Stirring Debate” essentially accuses them of doing what CNN has accused so much of the ‘alternative media’ in doing when distributing “fake news.”

Here are the key excerpts:

The reports by CNN and Buzzfeed sent other news organizations, including The New York Times and The Washington Post, scrambling to publish their own articles, some of which included generalized descriptions of the unverified allegations about Mr. Trump. By late Tuesday, though, only BuzzFeed had published the full document.

 

BuzzFeed’s decision, besides its immediate political ramifications for a president-elect who is to be inaugurated in 10 days, was sure to accelerate a roiling debate about the role and credibility of the traditional media in today’s frenetic, polarized information age.

And the punchline, where the NYT essentially accuses both CNN and BuzzFeed of stooping to the level of “fake news” disseminators:

Of particular interest was the use of unsubstantiated information from anonymous sources, a practice that fueled some of the so-called fake news — false rumors passed off as legitimate journalism — that proliferated during the presidential election.

It then continues its scathing critique of what now passes as “journalism”

CNN said that its journalists had reviewed the full 35-page compilation of memos, the same document later published in full by BuzzFeed, but declined to include some details, saying that the network “has not independently corroborated the specific allegations.” CNN said its reporters spoke with multiple high-ranking intelligence and government officials before publishing its report.

Meanwhile, the NYT held off for one simple reason: “In a brief interview in the Times newsroom on Tuesday evening, Dean Baquet, the executive editor of The Times, said the paper would not publish the document because the allegations were “totally unsubstantiated.” We, like others, investigated the allegations and haven’t corroborated them, and we felt we’re not in the business of publishing things we can’t stand by,” Mr. Baquet said.

But BuzzFeed could.

It wasn’t just the NYT who lashed out at the “report” – on social media, some left-leaning writers who generally oppose Mr. Trump expressed skepticism about the document published by BuzzFeed. “An anonymous person, claiming to be an ex-British intel agent & working as a Dem oppo researcher, said anonymous people told him things,” wrote Glenn Greenwald.

Immediately after BuzzFeed’s publication, some reporters volunteered that they, too, had received copies of the report. “Raise your hand if you too were approached with this story,” Julia Ioffe, a journalist who has written extensively on Russia, wrote on Twitter, adding that she had not reported on the information in the document “because it was impossible to verify.”

 

Writers at the blog Lawfare, which covers national security issues, said they had been in possession of the document “for a couple of weeks” but opted not to publish because the allegations were unproven.

 

“Yes, they are explosive; they are also entirely unsubstantiated, at least to our knowledge, at this stage,” the site wrote on Tuesday night. “For this reason, even now, we are not going to discuss the specific allegations within the document.”

To be sure, BuzzFeed’s move was welcomed by some people, who expressed concern that news outlets and government officials with access to the allegations had not disclosed them sooner. Almost immediately, the report’s publication prompted questions from Hillary Clinton’s camp about why the claims had not surfaced earlier.  “Today has brought a gush of reporting that outlets knew about and sat on prior to November 8,” Brian Fallon, Mrs. Clinton’s chief campaign spokesman, wrote on Twitter. He added, in a second message: “I repeat: certain media outlets were told this prior to November 8.”

Ultimately, the reaction to the report simply confirmed just how polarized US society has become, and that when it comes to information, virtually anything can now pass as “fake news” if not factually checked and corroborated by evidence, which incidentally in the entire “Russia hacking” means everything.

Finally, we would find it supremely delightful if, indeed, it was 4Chan who hoaxed not only CNN and BuzzFeed but the US intelligence agencies, into posting the “golden showers” scene. If so, then faith in conventional US media (and US intelligence) will fully disintegrate.

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Trump Asks If We’re Living In Nazi Germany, Violent Crime Up in 2016, Obama Says Goodbye: A.M. Links

  • In response to a Buzzfeed report that president-elect Donald Trump is sexually aroused by pee and Russia knows it, Trump took to Twitter to declare it “FAKE NEWS” and ponder whether we’re living in Nazi Germany. Trump also tweeted that “Russia has never tried to use leverage over me. I HAVE NOTHING TO DO WITH RUSSIA – NO DEALS, NO LOANS, NO NOTHING! … I win an election easily, a great “movement” is verified, and crooked opponents try to belittle our victory with FAKE NEWS. A sorry state!”
  • President Obama gave his farewell address to the nation last night, brandishing an inflated sense of his administration’s accomplishments that was, regardless, overshadowed by everyone talking about Trump and urine. Read the whole speech here; read Robby Soave on the speech here.
  • A measure that would’ve put $80 million into a new St. Louis soccer stadium will not move forward.
  • Violent crime was up, property crime down in the first half of 2016, according to new federal data.
  • Edward Snowden is pleading with President Obama to pardon Chelsea Manning before he leaves office.
  • Confirmation hearings for Exxon Mobil CEO Rex Tillerson, Trump’s pick for Secretary of State, begin this morning.

Follow us on Facebook and Twitter, and don’t forget to sign up for Reason’s daily updates for more content.

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Turkish Lira Carnage Continues – World’s Most Volatile Currency Crashes Most Since Lehman

The Lira – officially the world's most volatile currency – has lost 11% of its value since the start of 2017 (down 8 of the last 9 days against the USD).

 

In fact, the lira headed for its biggest five-day loss since Lehman (Oct 2008) after a pledge by Turkey’s central bank to support the currency failed to convince investors.

 

As we noted previously, as Turkey deals with rising domestic instability (and Erdogan's push for total rule), the Lira has become the world's most unstable currency

As we noted earlier, market focus has turned on the lira as a result of Turkey's large external borrowing requirement which makes its currency one of the most vulnerable currencies to tightening by the Fed.

Not helping matters is that Turkish residents have been flocking to the stability of hard currencies, the opposite of what President Recep Tayyip Erdogan has been urging. As the following Bloomberg chart shows, deposits in foreign exchange for individuals and companies excluding banks rose for a third week, signaling a lack of confidence in the lira. It’s the biggest loser among world currencies so far in 2017.

 

 

Additionally, Turkish economic growth has remained sluggish and inflation is rising, yet the central bank has been under pressure from President Tayyip Erdogan not to hike interest rates. A series of gun and bomb attacks have heightened security concerns. On Tuesday the Turkish parliament voted to press on with a debate about constitutional reform to strengthen the powers of President Tayyip Erdogan.

 

"Nobody wants to be the last one in there and everyone is running for the door. There are no signs from the authorities that they are taking it seriously," said Jakob Christensen, head of EM research at Danske Bank. Christensen said the risk of further attacks was undermining the tourist sector, which is vital for the economy and balance of payments.

It;s not just the currency that is in trouble though. The yield on the nation’s 10-year debt surged 45 basis points. The monetary authority said yesterday that it is monitoring “excessive volatility” in the markets and pledged to tackle “unhealthy price formations inconsistent with economic fundamentals.”

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How 4Chan McFooled John McCain, Buzzfeed, and the CIA Into Believing Trump’s Golden Showers

Ok, there is a lot to go through with this story, which is going to end up being one of the biggest embarrassments for Buzzfeed, the CIA, and old man McCain ever.

First let’s go over what happened, in reference to the pesudo intelligence report aka ‘dossier’ published by the high level retards over at Buzzfeed.

img_6067

I know this appears to be unbelievable, but it’s all verifiable. The neocon shill of a reporter from Buzzfeed, Rick Wilson, was catfished by some autist from the Hitler loving 4chan message boards and made to believe Trump enjoyed getting urinated on and all sorts of outlandish stuff. Truly, this is incredible. Let me post some screen shots.

img_6062 img_6063 img_6064

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That right there is the head of Buzzfeed explaining why he published a dodgy report of utter nonsense that was, apparently, fished around to other news agencies and summarily rejected — because it’s retard level was too high even for The NY Times.

img_6056 img_6057

Since the 4chan ruse was revealed, Rick Wilson has been made out to be a top moron with a propeller helmet, laughed at and derided as a person of very low standing. The heat is, apparently, getting to him.

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Wikileaks calls bullshit on the report.

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What sort of nonsense is in this top secret dossier? How about this?
img_6070

And now to the curious case of John McCain, war shill, neocon lover of death of agony.

Source: Guardian

Senator John McCain passed documents to the FBI director, James Comey, last month alleging secret contacts between the Trump campaign and Moscow and that Russian intelligence had personally compromising material on the president-elect himself.
 
The material, which has been seen by the Guardian, is a series of reports on Trump’s relationship with Moscow. They were drawn up by a former western counter-intelligence official, now working as a private consultant. BuzzFeed on Tuesday published the documents, which it said were “unverified and potentially unverifiable”.
 
The Guardian has not been able to confirm the veracity of the documents’ contents, and the Trump team has consistently denied any hidden contacts with the Russian government.

The media ran with the ‘explosive news’ and will now get to enjoy its explosion — as they hold it near their tiny little hearts.
 
img_6073

Trump is now pissing all over these guys.
img_6072

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Tillerson To Call Russia A “Danger” Which Must “Be Held Accountable For Its Actions”

Anticipating questions at his upcoming confirmation hearing, in which his “close relationship” with Russia will likely be in the spotlight for most of the session, Donald Trump’s nominee for secretary of State on Wednesday will tell senators that Russia “must be held accountable for its actions” and that “Russia today poses a danger, but it is not unpredictable in advancing its own interests.”

“Our NATO allies are right to be alarmed at a resurgent Russia,” Tillerson, 64, will say before the Senate Foreign Relations Committee on Wednesday, according to his prepared remarks. At the same time, he faults a lack of U.S. leadership for Russia’s aggressiveness, citing “weak or mixed signals with ‘red lines’ that turned into green lights” adding “we must also be clear-eyed about our relationship with Russia.”

Having been accused of being friendly with Putin during his tenure as Exxon CEO, it should not come as a surprise that his remarks are a sharp departure from comments by Trump, who has called for a friendlier relationship with Russian President Vladimir Putin. Critics have raised questions over Tillerson’s close ties to Russia since his nomination for secretary of State. He received Russia’s Order of Friendship Award from President Vladimir Putin in 2013 and he opposed sanctions against the country following its annexation of Ukraine’s Crimea region in 2014.

As Bloomberg adds, “it’s also a stark turnaround for an oil baron who staked billions of dollars on Russia’s crude bonanza and as recently as 3 1/2 years ago was feted by Russia with its Order of Friendship. One of Tillerson’s most decisive moves as chief executive officer and chairman of Exxon was to make Russia the company’s biggest single exploration prospect globally.”

Now, Tillerson faces the challenge of assuring lawmakers that he can pursue the broader interests of U.S. foreign policy after his 41-year career at Exxon, the world’s largest energy company by market value.

Tillerson’s hearing comes at an awkward time, just a day after reports surfaced that intelligence officials had briefed the president-elect on a shadowy, unverifiable dossier alleging the Russian government had compromising information on him. The 35-page document, made up of a collection of memos filled with explosive claims about Trump’s relationship to Russia – which may or may not have been originated on 4chan – has been circulating among journalists and officials for months.

Still, despite the recent surge in hacking-related newsflow, Tillerson will avoid the topic. In his testimony, Tillerson says Russia has acted against U.S. interests and urges an “open and frank dialogue” so that “we know how to chart our own course.” But, as Bloomberg adds, he makes no mention of U.S. intelligence findings that Russia hacked into last year’s presidential campaign, leaking documents in what the spy agencies say became an effort to help Trump win. Russia has denied responsibility for the hacking.

It’s an issue likely to come up in questioning, as are news reports that U.S. intelligence officials have informed Trump they’ve received unsubstantiated information that the Russian government had compiled potentially damaging personal and financial information on him. Trump denounced those reports on Twitter as “FAKE NEWS – A TOTAL POLITICAL WITCH HUNT!”

The Kremlin denied those allegations Wednesday. Asked to comment on Tillerson’s prepared statement, spokesman Dmitry Peskov said that the Kremlin’s past “positive” assessments of the nominee referred to his professional qualities. “This doesn’t mean we are wearing rose-colored glasses,” Peskov said. “We understand that Mr. Tillerson will continue to be rather firm in following his line.”

While avoiding the topic of hacking, Tillerson does touch upon a more sensitive, to Russia issue, namely sanctions: in a nod to senators from both parties who are seeking tighter restrictions on Russia after the hacking, Tillerson does say the U.S. should use “economic aid and economic sanctions as instruments of foreign policy when appropriate.” Exxon has been hurt by sanctions against Russia that stalled its drilling plans there.

Tillerson says he is trying to explain what he calls Trump’s “bold new commitment” to advancing U.S. priorities abroad. At the same time, the speech charts a foreign policy vision that differs with Trump’s in important ways. Tillerson says the world risks plunging “deeper into confusion and danger” without American leadership, while Trump has cast the U.S. as overextended and in need of an “America First” policy.

 

In an implicit criticism of President Barack Obama’s policies, Tillerson paints a portrait of a U.S. government that has abrogated its leadership position in the world and no longer lives up to its commitments. Citing his time in the Boy Scouts — he was an Eagle Scout and went on to lead the organization — he says the U.S. must abide by the phrase the Boy Scouts cherish: “On my honor.”

Away from Russia-related topics, one sensitive issue Tillerson mentions is “radical Islam” – he says defeating Islamic State terrorists must be “our foremost priority in the Middle East.” He calls out North Korea and Iran, which he says has been allowed to get away with violations of the agreement that limited its nuclear program.

Tillerson also faults China for failing to rein in North Korea’s nuclear program and for stealing U.S. intellectual property.

In laying out a modest olive branch to China, Tillerson will say that “we need to see the positive dimensions in our relationship with China as well,” he will say. “The economic well-being of our two nations is deeply intertwined. China has been a valuable ally in curtailing elements of radical Islam. We should not let disagreements over other issues exclude areas for productive partnership.”

According to Bloomberg, those remarks will please leaders in Beijing, who have been unnerved by a litany of tweets in which Trump has questioned 40 years of protocol on Taiwan while saying that China dumps cheap goods on the U.S. market and continues to manipulate its currency.

 

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Supreme Court Rules Unanimously to Protect Qualified Immunity for Police

The Supreme Court reversed a decision of the 10th Circuit Court of Appeals, handing down an 8-0 decision in the case of White v. Paulie that will serve to strengthen qualified immunity for police officers.

The case revolved around the fatal police shooting of Samuel Paulie in New Mexico. Police officers arrived at the Paulie brothers’ home after two women called police to report one of the Paulies allegedly driving drunk. According to the facts presented in the ruling, police determined after talking to the women that they did not have probable cause to arrest Paulie but wanted to go to his house anyway to “get his side of the story,” to see if he was drunk, and to see if there was anything else going on. The officers went separately. The first two officers to arrive didn’t identify themselves as police, instead telling the Paulies they were surrounded and to come out or they would come in, causing the Paulies to believe they were being targeted for a home invasion and to arm themselves.

That’s when the third officer, Ray White, the plaintiff of the case that made it to the Supreme Court, arrived, just in time to hear the Paulies yell “we have guns.” He took cover behind a wall. Sam Paulie then exited his house with a shotgun, firing one shot that didn’t hit anyone. One of the officers shot at Paulie but missed. Then White left his cover and fired at Paulie, killing him.

The Supreme Court ruled that White deserved qualified immunity (a concept that, in essence, protects government employees from liability and civil damages so long as “their conduct does not violate clearly established statutory or constitutional rights of which a reasonable person would have known,” as the Supreme Court decided in the 1982 case Harlow v. Fitzgerald.

“In the last five years, this Court has issued a number of opinions reversing federal courts in qualified immunity cases,” the court noted in its White v. Paulie decision, appearing to signal that there ought to be less of these making it all the way to the Supreme Court. “The Court has found this necessary both because qualified immunity is important to ‘society as a whole,’ and because as ‘an immunity from suit’, qualified immunity ‘is effectively lost if a case is erroneously permitted to go to trial.'”

The crux of the court’s decision is that, as “this Court explained decades ago, the clearly established law must be ‘particularized’ to the facts of the case.” The court admonished the appeals court for misunderstanding “the ‘clearly established analysis,'” writing that the 10th circuit had “failed to identify a case where an officer acting under similar circumstances as Officer White was held to have violated the Fourth Amendment.” Given that every police shooting is different in its own way, this is a troubling standard from the perspective of reducing police violence and increasing accountability for it.

The appeals court, the Supreme Court continued, “did not conclude that White’s conduct—such as his failure to shout a warning—constituted a run-of-the-mill Fourth Amendment violation.” The Supreme Court did not explain what they believed a “run-of-the-mill” Fourth Amendment looks like—the phrase is not a legal term of art.

The appeals court “recognized that ‘this case presents a unique set of facts and circumstances’ in light of White’s late arrival on the scene. This alone should have been an important indication to the majority that White’s conduct did not violate a ‘clearly established’ right.”

Justice Ruth Bader Ginsberg offered a concurring opinion that North Carolina criminal defense attorney and prolific legal tweeter Greg Doucette called an “after-the-fact ‘this isn’t as bad as it looks’ concurrence,” one “that would be totally unnecessary if it wasn’t actually just as bad as it looks.”

“The Supreme Court’s (unanimous) ruling means that absolutely no §1983 case will survive summary judgment on qualified immunity,” Doucette tweeted, “Unless there is preexisting precedent with the exact same facts.”

It’s important to stress that this decision was unanimous. The court may be divided evenly between liberals and conservatives, but when it comes to advocates of government power, they have an overwhelming majority. Even Justice Sonia Sotomayor, whose dissent in Utah v. Strieff, a case about the Fourth Amendment and police searches, Slate called an “atomic bomb of a dissent slamming racial profiling and mass imprisonment,” didn’t dissent here.

The Supreme Court’s latest ruling also highlights how crucial police reforms at the local level are to the cause of lowering police violence. Cops with the propensity to use excessive force or otherwise habitually violate Constitutional rights have to be removed from the force before they have a chance to kill anyone—that requires higher hiring standards, more accountability and discipline, and eliminating the largely union contract-driven privileges and protections that enable all of it.

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Peso Pounded To New Record Lows As Trump Presser Looms

The Mexican Peso has plunged to fresh record lows this morning on mounting concerns that Donald Trump’s trade policy could end the country’s privileged status among developing countries.

Looks like Banxico is going to need a bigger intervention…

As The Wall Street Journal reports, the selloff underscores gathering fears that the economic gains Mexico has made over the past two decades could reverse, as the incoming Trump administration takes a confrontational stance that could bring tariffs and border-control measures that until recently appeared unthinkable.

The North American Free Trade Agreement, which in 1994 created a free-trade zone among Mexico, the U.S. and Canada, cracked open the giant American consumer market to Mexican businesses in a way no other emerging market has ever enjoyed. Nafta has also brought relative stability to the peso after a series of currency crises, a crucial factor in reassuring foreign buyers of Mexican bonds and other assets.

Now that advantage could be in jeopardy if Mr. Trump follows through on pledges to renegotiate the agreement.

 

Luis de la Calle, a former top Mexican trade official, said Mr. Trump’s statements and policies that have caused the peso to decline could backfire. They would dent Mexicans’ ability to buy U.S. goods, which could expand the U.S. trade deficit. A weaker peso is also likely to spur more illegal immigration if Mexico’s economy falters.

 

“Trump is manipulating Mexico’s currency through his tweets—against the U.S. interest,” Mr. de la Calle said.

We suspect one mention on NAFTA in today’s Trump press conference and the peso breaks above 22/$.

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Furious Trump Lashes Out At “Fake News” Leak: “Are We Living In Nazi Germany?”

If there was any doubt as to whether the relationship between the President-elect and certain members of the “intelligence community” had fallen on rough times, an angry Tweetstorm from Trump this morning pretty much clears up all the confusion.  After the CIA included what is looking increasingly like fabricated nonsense in their official classified intelligence report (something we noted earlier here), Trump took to Twitter to confirm that it is “A COMPLETE AND TOTAL FABRICATION, UTTER NONSENSE” and questioned whether we’re “living in Nazi Germany.”

Russian officials early Wednesday said that news it had “compromising personal and financial information” on Trump was “absolute fabrication.” The Kremlin has no compromising dossier on Mr. Trump, such information is not consistent with reality and is nothing but an absolute fantasy,” said Kremlin spokesman Dmitri Peskov.

“There are people who foment this hysteria, who move heaven and earth to keep up this ‘witch hunt,’ ” he added. “By the way, this is how Mr. Trump characterized this fabrication.”

Late Tuesday night, Trump called the report a “political witch hunt.”

In light of Trump’s adversarial tone, futures are easing lower, concerned what Trump will say at today’s 11AM EST press conference, where the topic of Russia is sure to be top billing.

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Was Prince A ‘Scrooge McDuck’, Crazy Gold Bug?

Gold Bars Worth $800,000 Owned By Prince

Prince, RIP, owned gold bars worth just over $800,000 according to the statement filed in a Minnesota court last Friday.

Source: Amazon.com

At the time of his death, Prince had taken delivery of and had in his possession 67 gold bars, 10 ounce gold bars, valued at $836,166.70. That’s according to an asset inventory compiled by Bremer Trust released by the Carver County District Court, as first reported by the Minneapolis Star Tribune.

The release inventory showed that the “Purple Rain” singer had no stocks, bonds, or other financial assets, but did have a substantial amount of land, property, cash and gold bars.

Besides the gold bars, Prince also had “about $110,000 in four bank accounts, unclaimed property, capital credits and cash” according to the Minneapolis Star Tribune.

He also had a dozen tracts of land in Carver and Hennepin, Minnesota that have an estimated total value of $25.4 million.

His estate has been valued between $100 million and $300 million before taxes, which are expected to claim roughly half.

Among the items that have not yet been assigned a specific value are the ‘When Doves Cry’ singer’s musical instruments, household furnishings, jewellery and his famous ‘Purple Rain’ and ‘Graffiti Bridge’ motorcycles.

In addition, the value of Prince’s copyrights and trademarks are still unclear.

Prince’s companies, Paisley Park Enterprises Inc., NPG Records Inc., NPG Music Publishing and LotusFlow3r had more than $6 million in cash.

It seems likely that the land Prince owned was agricultural land as Minnesota is still a largely agricultural state.

From Wikipedia on Minnesota:

Although less than one percent of the population is now employed in the agricultural sector, it remains a major part of the state’s economy, ranking sixth in the nation in the value of products sold.[81] The state is the U.S.’s largest producer of sugar beets, sweet corn, and green peas for processing, and farm-raised turkeys. Minnesota is also a large producer of corn and soybeans

Prince, like many artists, preferred hard, tangible assets to paper assets such as bonds and stocks. It seems that he also understood the value of diversification and owning physical gold as financial insurance.

Possession is 9/10s of the law – especially in a financial crisis. He had worked hard all his life and did not want to be a “slave” to the banks, corporations and the financial system.

Contrary to some media, Prince was no crazy “gold bug” or “Scrooge McDuck” who was “hoarding” gold for Armageddon.

Prince’s hard asset portfolio had an allocation to gold of about 2% of his overall portfolio. We would advise higher allocations of 10% plus for investors and savers. However, for high net worth individuals that allocate to physical gold, 2% is a healthy allocation if taking possession of gold coins and bars.

 

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10 Important Points To Consider Before You Buy Gold

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Essential Guide To Storing Gold In Switzerland

Essential Guide To Storing Gold In Singapore

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Gold and Silver Bullion – News and Commentary

PRECIOUS-Gold holds near six-week peak on safe-haven demand (Reuters.com)

Gold pares gains, but still marks 6-week high (MarketWatch.com)

Gold near 6-week peak ahead of Trump news conference (Reuters.com)

Gold Gains as Dollar Recoils in Fading Trump Rally (Bloomberg.com)

Best Asian FX Forecaster Fears Trump Risk More Than China (Bloomberg.com)

Trumponomics Divides Investors as Gold ETF Flows Diverge (Bloomberg.com)

Trump’s Ignorance re Protectionist Policies and Mexico (Plata.com)

German fury grows over inflation ‘Horror-Kurve’ as fears of destructive boom-bust cycle mount (Telegraph.co.uk)

Life in a Modern Day Debt Colony: The Truth about Greece (99GetSmart.com)

Can You Help Me Out? (SilverSeek.com)

7RealRisksBlogBanner

Gold Prices (LBMA AM)

11 Jan: USD 1,187.55, GBP 979.25 & EUR 1,128.41 per ounce
10 Jan: USD 1,183.20, GBP 974.60 & EUR 1,118.12 per ounce
09 Jan: USD 1,176.10, GBP 968.75 & EUR 1,118.59 per ounce
06 Jan: USD 1,178.00, GBP 951.35 & EUR 1,112.27 per ounce
05 Jan: USD 1,173.05, GBP 953.55 & EUR 1,116.16 per ounce
04 Jan: USD 1,165.90, GBP 949.98 & EUR 1,117.40 per ounce
03 Jan: USD 1,148.65, GBP 935.12 & EUR 1,103.28 per ounce
30 Dec: USD 1,159.10, GBP 942.58 & EUR 1,098.36 per ounce

Silver Prices (LBMA)

11 Jan: USD 16.79, GBP 13.84 & EUR 15.96 per ounce
10 Jan: USD 16.66, GBP 13.73 & EUR 15.76 per ounce
09 Jan: USD 16.52, GBP 13.57 & EUR 15.69 per ounce
06 Jan: USD 16.45, GBP 13.30 & EUR 15.54 per ounce
05 Jan: USD 16.59, GBP 13.47 & EUR 15.80 per ounce
04 Jan: USD 16.42, GBP 13.36 & EUR 15.74 per ounce
03 Jan: USD 15.95, GBP 12.97 & EUR 15.34 per ounce
30 Dec: USD 16.24, GBP 13.20 & EUR 15.38 per ounce


Recent Market Updates

– Gold Price In GBP Up 4% On Brexit and UK Risks
– 2016 Past is 2017 Prologue
– Gold Gains In All Currencies In 2016 – 9% In USD, 13% In EUR and Surges 31.5% In GBP
– Trump’s Twitter “140 Characters” To Push Gold To $1,600/oz in 2017?
– 2017 – The Year of Banana Skin
– US: Five Must Gold See Charts – Gold Miners Are “Running Out” of Gold
– Royal Mint And CME Make A Mint On The Blockchain?
– China Gold and Precious Metals Summit 2016 – GoldCore Presentation
– Trumpenstein ! Who Created Him and Why?
– Bail-Ins Coming? World’s Oldest Bank “Survival Rests On Savers”
– Fed’s “Fool Me…”, Silver Suppression, Euro Contagion In 2017?
– Fed Raised Rates 0.25% – Rising Rates Positive For Gold
– Shariah Gold Standard Is “Revolutionary” – Mobius

www.GoldCore.com

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Frontrunning: January 11

  • Russia likely main topic in Trump’s first news conference since election (Reuters)
  • Russia Denies Report It Has Compromising Material on Trump (BBG)
  • For Russia, U.S. election meddling claims strip Trump win of luster (Reuters)
  • Obama Urges Unity in Farewell Speech (WSJ)
  • 1930s-like Demographic Pressures Holding Back U.S. Economy (BBG)
  • Chinese bomber flies around contested Spratlys in show of force: U.S. official (Reuters)
  • Tillerson to Call Russia a ‘Danger’ in Confirmation Hearing (BBG)
  • Kelly Distances Himself From Trump Over Border Wall, Russia (BBG)
  • Justice Department Hasn’t Found Evidence to Bring Antitrust Case Against Airlines (WSJ)
  • In China, Insurers Sell Risky Products to Fund Risky Investments (WSJ)
  • Uber signs deal with Dubai regulator after pricing rows (Reuters)
  • Why the Lira’s in Trouble: 2017’s Worst Performer in Charts (BBG)
  • Northern Ireland will still have say in Brexit preparations: PM May (Reuters)
  • Suddenly, Home Sale Agreements Are Falling Apart Across the U.S. (BBG)
  • A Pileup in U.S. Motor Vehicle Inventories (WSJ)
  • Relatives’ U.S. bribery case rains on ex-U.N. chief’s homecoming (Reuters)
  • ‘Chicken Tax’ Surfaces in Talk of Auto Tariffs (WSJ)
  • Trump Tax Cut Could Add $8.2 Billion to Reynolds Price Tag (BBG)
  • Italy’s New Prime Minister in Intensive Care After Surgery (WSJ)
  • Lebanese Leader Reaches Out to Saudi Arabia in Search of Aid (WSJ)
  • From Brexit to Trump, Polarization Heightens Risk, WEF Says (BBG)

 

Overnight media Digest

WSJ

– Volkswagen AG is expected to agree to plead guilty to criminal wrongdoing and pay a $4.3 billion penalty to resolve a U.S. Justice Department probe of its diesel-emissions cheating. http://on.wsj.com/2iZN3Wf

– Wal Mart Stores Inc is preparing to cut nearly 1,000 corporate jobs before the end of the month, according to an executive familiar with the situation as the company shifts its focus to e-commerce. http://on.wsj.com/2iZEYk9

– Alibaba Group Holding Ltd said it would take China’s Intime Retail Group Co Ltd private in a $2.6 billion deal in a bid to extend its online dominance into -physical stores. http://on.wsj.com/2iZNHD9

– Valeant Pharmaceuticals International Inc reached deals to sell $2.1 billion in assets, the struggling drug maker’s biggest moves yet to refocus around its consumer offerings and pare its heavy debt load. http://on.wsj.com/2iZSYKR

 

FT

Volkswagen AG said on Tuesday it has negotiated a $4.3 billion draft settlement with U.S. regulators to resolve its diesel emissions troubles and plans to plead guilty to criminal misconduct.

Britain’s Financial Reporting Council is asking the government for greater oversight powers to tackle corporate governance issues in its annual report published on Wednesday on corporate culture against what it called a “backdrop of falling public trust in business.”

Income inequality in Britain narrowed in the 2015-16 financial year as poorer families got help from low inflation and retirees gained from generous pensions, but many people of working age lost out, official data showed on Tuesday.

Chinese investors spent four times as much on acquisitions in the European Union last year as European companies did in China, according to a report by research firm Rhodium Group.

Italian police arrested two siblings on Tuesday for hacking into the emails of European Central Bank President Mario Draghi, former prime minister Matteo Renzi and thousands of others.

 

NYT

– Volkswagen AG is on the verge of pleading guilty to criminal charges and paying $4.3 billion in fines, in a deal that would resolve a federal criminal investigation into its cheating on vehicle emissions tests, the automaker said on Tuesday. http://nyti.ms/2jtdNNH

– The publisher of The Daily Mirror, a left-wing British tabloid, said on Tuesday it was in early-stage talks to acquire a minority stake in a new company that would include assets of the Northern & Shell Media Group, which publishes two rival right-wing tabloids, The Daily Express and The Daily Star. http://nyti.ms/2j64abm

– Alibaba Group Holding Ltd is pushing further into the very sector that it helped to disrupt with a $2.6 billion bid for Intime Retail Group Co Ltd, a department store and mall operator in China. Alibaba, a Chinese e-commerce behemoth, already owned 28 percent of Intime, which is listed in Hong Kong, and made an offer with Shen Guo Jun, the founder of the department store chain, to take the company private. http://nyti.ms/2j66u27

– Mark Zuckerberg and Priscilla Chan have hired a top political operative to lead the next phase of their philanthropic work at the Chan Zuckerberg Initiative, the limited liability company they set up in 2015 to conduct charitable efforts. David Plouffe, who managed Barack Obama’s 2008 presidential campaign and is chief adviser and a board member at Uber, is leaving the ride-hailing company to join the Chan Zuckerberg Initiative as president of policy and advocacy. http://nyti.ms/2jtfiLE

– John Carlin, who was the Justice Department’s top national security lawyer, has moved to the law firm Morrison & Foerster to lead its global risk and crisis management practice, the firm announced on Tuesday. http://nyti.ms/2iDPU6a

 

Canada

THE GLOBE AND MAIL

** Canada’s vast network of bank branches will shrink in 2017, with dozens of locations closing as institutions cut costs and invest billions in technology as more customers migrate online. https://tgam.ca/2iF5uOY

** The National Energy Board of Canada has officially appointed three new members to a panel that will restart the stalled review of the proposed Energy East pipeline. The new three-member panel will be headed by Don Ferguson, a former senior civil servant in New Brunswick. https://tgam.ca/2jzkP7P

NATIONAL POST

** An eventual increase in Canadian interest rates is not expected to lead to a spike in mortgage book losses for Canada’s banks, Royal Bank of Canada Chief Executive Dave McKay told investors on Tuesday. http://bit.ly/2ifruPc

** Canadian Securities Administrators are calling for public input on a proposal to prohibit embedded commissions and trailer fees in investment funds, the strongest indication in a years-long process that an outright ban is on the table. http://bit.ly/2ift2ZP

 

Britain

The Times

* Labour leader Jeremy Corbyn has called for a maximum wage to be imposed on Britain’s highest earners as he tries to relaunch his leadership. http://bit.ly/2jsaI0m

* A tourist tax on hotels to help pay for local services is being considered by Bath council, which is lobbying the government to allow local authorities to introduce the charge. http://bit.ly/2jAYeYn

The Guardian

* Theresa May is facing questions about her financial interests after it emerged she set up a blind trust arrangement when she became prime minister. http://bit.ly/2j5t4b7

* UK’s ambassador to France has said his embassy will not be forging links with far-right French presidential candidate Marine Le Pen because the UK government has a policy of not engaging with her party, the Front National. http://bit.ly/2j5t0Ik

The Telegraph

* A former editor of the News of the World, David Montgomery, has emerged as the potential buyer of the Daily Express and Daily Star newspapers, in a complicated deal with their current owner Richard Desmond that could also see Trinity Mirror take a minority stake. http://bit.ly/2iCGcRC

* Britain’s Post Office is to close and seek franchise partners for 37 of its Crown branches, threatening 290 jobs as well as 127 financial specialist staff. http://bit.ly/2jga2vH

Sky News

* Snap Inc, the owner of messaging app Snapchat, has confirmed it will make the UK its main hub outside the United States. http://bit.ly/2idQB8s

* Fresh from his trip to the United States to meet with key members of President-elect Donald Trump’s team, foreign minister Boris Johnson told members of parliament there was a “huge fund of goodwill” for the UK on Capitol Hill. http://bit.ly/2iyZUxg

The Independent

* The chief executive of the London Stock Exchange has warned that the UK’s vote to leave the European Union poses a risk to the global financial system and could cost the City of London up to 10,000 jobs if the government fails to provide a clear plan for post-Brexit operations. http://ind.pn/2j0DNmE

 

via http://ift.tt/2j0Ylcy Tyler Durden