Hong Kong Protesters Build Makeshift Catapult On Third Day Of Unrest Over ‘Anti-Mask’ Law

Hong Kong Protesters Build Makeshift Catapult On Third Day Of Unrest Over ‘Anti-Mask’ Law

Carrie Lam’s hope that her new ‘anti-mask’ edict would help quiet the protests unfortunately didn’t pan out. Rather, in retaliation, the protesters took to the streets on Saturday and Sunday in another round of violent clashes with police, the SCMP reports.

Sunday marked the third straight day of unrest and demonstrations over the mask ban – many Hong Kongers took to the streets as soon as the ban was announced on Friday and firms with a large presence in Hong Kong, including HSBC and Ernst & Young warned employees to work from home on Friday and through the weekend.

That proved to be a prescient decision, as in at least one incident, a group of protesters was filmed beating up a young JP Morgan banker who had the temerity to defend Beijing by shouting ‘we are all Chinese’.

Anyway, according to SCMP, two groups of protesters, many of them covering their faces in direct defiance of the mask bill, marched on routes from East Point Road in Causeway Bay to Chater Garden in Central, and from Salisbury Road in Tsim Sha Tsui to Maple Street Playground in Sham Shui Po. The marches began at around 2 pm local time (so about 2 am in the US).

After Hong Kong’s entire MTR transit system was shuttered yesterday due to the vandals, protesters came together and caused even more damage to train stations on Sunday. At the Mong Kok station, a locus of violence and mayhem on Sunday, three black-wearing protesters smashed CCTV cameras, spray painted the walls and caused general mayhem. Others joined in and covered the station with graffiti.

The extent of the damage throughout the evening was severe.

Hong Kong police caught a lucky break later in the evening on Sunday, as heavy rains drove many protesters to call it a day and return home. As much of Sunday’s unrest centered on the Mong Kok neighborhood, police brought water cannons and other crowd-control weaponry to a staging area in the neighborhood.

Earlier in the day, as one WSJ reporter in Hong Kong reported, protesters marched through Wan Chai chanting,”five demands, not one less.”

Even though the anti-mask law purportedly exempts those who wear masks for professional or health reasons, Hong Kong police were seen harassing two journalists over their gas masks.

“Who said journalists can wear masks? Does the law grant you the privilege to wear a mask? Are you a police officer who is carrying out his duties?” an officer asks.

The reporter removes the mask. Another two reporters are also questioned by police. The same officer also goes to a girl wearing a mask and asks her to take it off.

After protesters on Saturday destroyed dozens of ATMs during a rampage across the city, the Hong Kong Association of Banks warned on Sunday that cash refills to certain banks and ATMs would likely be delayed a while longer. 

Even as protests died down elsewhere in the city, a hard-core group of radicals in Mong Kok threw Molotov cocktails and police barricades and caused general mayhem.

In what can only be described as a creative triumph for the protesters (and one of the most impressive accomplishments since the demonstrations began), a handful of mask-clad demonstrators used bamboo scaffolding and countless zip-ties to build a makeshift catapult to keep the police at bay.

The catapult was situated on Nathan Road, outside the HSBC building In Mong Kok.

Here’s video of them testing it out.

And from two different angles.

Elsewhere in the city, police continued their heavy-handed crackdown. Reports claimed that public buses were stopped and searched by police, and that young people found to have masks in their bags or on their persons were removed by police.


Tyler Durden

Sun, 10/06/2019 – 12:00

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Key Witness In Ex-Cop ‘Wrong Apartment’ Murder Trial Shot To Death

Key Witness In Ex-Cop ‘Wrong Apartment’ Murder Trial Shot To Death

A key witness in the murder trial of ex-cop Amber Guyger was shot and killed Friday evening at a Dallas apartment complex according to The Dallas Morning News

Joshua Brown

Joshua Brown testified that he was in a fourth-floor hallway on the night of September 6, 2018, when he heard what he thought sounded like “two people meeting by surprise.” He was unable to make out what they were saying, as the two were talking over each other. He then heard two gunshots as Guyger, an off-duty police officer, shot Botham Jean in his own apartment. 

Guyger was convicted on Tuesday of Botham’s murder and sentenced on Wednesday to 10 years in prison.

Brown was shot in the thigh and back according to a government official. 

Lee Merritt, a civil rights attorney who represents the Jean family, called Brown a “former athlete turned entrepreneur” whose slaying “underscores the reality of the black experience in America.”

Brown lived in constant fear that he could be the next victim of gun violence,” Merritt wrote on Facebook. “Brown deserves the same justice he sought to ensure the Jean family.”

Dallas County prosecutor Jason Hermus, the lead prosecutor in the Guyger case, said Saturday that Brown stood up at a time when others won’t say what they know.

“He bravely came forward to testify when others wouldn’t, ” Hermus said. “If we had more people like him, we would have a better world.” –The Dallas Morning News

After bystanders flagged down police Friday night, Brown was taken to Parkland Memorial Hospital where he died from his injuries. Witnesses reported hearing several gunshots before a silver four-door sedan sped out of the parking lot. 


Tyler Durden

Sun, 10/06/2019 – 11:30

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“Conspiracy Propaganda Stuff!” Chuck Todd Shouts Down GOP Senator In Fiery Trump-Ukraine Exchange

“Conspiracy Propaganda Stuff!” Chuck Todd Shouts Down GOP Senator In Fiery Trump-Ukraine Exchange

There was a full on Trump-Ukraine blow-up on Sunday’s Meet the Press, with Chuck Todd quick to slam what he called “Fox News Conspiracy Propaganda Stuff!”

Sen. Ron Johnson (R-WI) launched a defense of Trump when pressed by Todd over some of his recent comments made firmly denying the Democrats’ allegation that the White House withheld military aid to Ukraine in quid pro quo situation related to Biden’s dealings there. Johnson told Todd, “You’ve got [former CIA director] John Brennan on, you ought to ask director Brennan, what did Peter Strzok mean when he texted Lisa Page on December 15, 2016, quote—…”

“What does this have to do with Ukraine?” Todd interrupted. “It has everything to do with Ukraine,” Johnson retorted. Todd then cut in during the senator’s explanation, leveling the ‘conspiracy theorist’ charge at him. “I have no idea why Fox News propaganda stuff is popping up on here,” Todd said. “I have no idea.”

“Because this is underlining exactly why President Trump is upset, and why his supporters are upset, with the news media!” Johnson said, highlighting the seeming inability of the mainstream to dig into the original Ukraine-Biden scandal. 

“Senator Johnson, please!” Todd said. “Can we please answer the question that I asked you, instead of trying to make Donald Trump feel better here that you’re not criticizing him?! I’m just trying to ask a simple question of what made you wince?”

“Because I didn’t want those connected,” Johnson said, referencing the issue of withheld military aid and investigations over Biden. 

A visible angry Chuck Todd shouts down his guest, Republican Senator Ron Johnson of Wisconsin. Screenshot: NBC/Mediaite 

He added, “When I asked the president about that, he completely denied it. He adamantly denied it. He vehemently, angrily denied it. He said, ‘I’d never do that.’”

The heated sparring went throughout the ten minute NBC interview, the entirety of which can be viewed here.


Tyler Durden

Sun, 10/06/2019 – 11:01

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Second Ukraine Whistleblower Comes Forward With “Firsthand Knowledge”

Second Ukraine Whistleblower Comes Forward With “Firsthand Knowledge”

A second whistleblower who doesn’t think Joe Biden should be investigated for corruption has come forward with “first-hand” knowledge of complaints against President Trump’s efforts to encourage Ukraine to do so.

The second whistleblower, represented by the same team of attorneys as the first one, has reportedly spoken with the intelligence community inspector general, Michael Atkinson. According to ABC News, they have not spoken with Rep. Adam Schiff’s (D-CA) House Intelligence Committee like the first whistleblower. It is unknown if they are also a CIA employee or a registered Democrat. 

“I can confirm that my firm and my team represent multiple whistleblowers,” said Andrew Bakaj – lead attorney for the first whistleblower (and who worked for both Hillary Clinton, Chuck Schumer – and donated to Joe Biden). 

Mark Zaid, another attorney representing the initial whistleblower, said that a second whistleblower has come forward with firsthand knowledge of some of the allegations described in the initial complaint, which describe efforts by Mr. Trump to press his Ukrainian counterpart to investigate a political rival. –WSJ

That said, we’ve all read the original whistleblower complaint and the transcript of the phone call between President Trump and Ukrainian President Volodomyr Zelensky in which Trump clearly does not use pressure or offer a quid pro quo as originally claimed. It will be interesting to discover what additional insight the second whistleblower can provide. 

Attorney Mark Zaid who represents the second whistleblower said that both officials have full protection of the law. 

The New York Times on Friday cited anonymous sources in reporting that a second intelligence official was weighing whether to file his own former complaint and testify to Congress. Zaid says he does not know if the second whistleblower he represents is the person identified in the Times report.

According to the first whistleblower, more than a half a dozen U.S. officials have information relevant to the investigation — suggesting the probe could widen even further. –ABC News

ABC News peddles a recent lie put forward by House Democrats last week about the Trump-Zelensky phone call – namely that Trump asked Ukraine to investigate Biden as a ‘favor’:

“A transcript released by the White House of Trump’s July 25 call with Ukraine President Volodymyr Zelenskiy showed Trump asking a “favor” of the foreign leader and pushing him to launch an investigation into the Biden family. ” -ABC News

Wrong, a reading of the transcript reveals that the ‘favor’ Trump asked for was only in relation to the DNC’s missing server and the DNC contractor Crowdstrike who analyzed it. Biden is mentioned later in the call, and nowhere near the ‘favor’ asked. 

Zelensky then responds, noting that he is fighting corruption and has a reliable team of investigators, and approximately 300 words later in the transcript Trump mentions Biden, long-divorced from the “favor.”

“There’s a lot of talk about Biden’s son,” Trump says, before suggesting Zelensky’s people contact Attorney General William Barr on the matter. “a lot of people want to find out about that so whatever you can do with the attorney general would be great.”

Notably, the Wall Street Journal did not conflate the ‘favor’ comment with Biden. 

And while Congressional Democrats have used the above as part of an impeachment inquiry against President Trump, they seem to be uninterested in allegations against the Bidens. What this does feel like is ‘Kavanaugh 2.0’ where we’re about to meet an endless stream of accusers seemingly trotted out to bolster an original flimsy claim. 


Tyler Durden

Sun, 10/06/2019 – 10:30

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New Yorker Journo Who Peddled Discredited Kavanaugh Hit-Job Calls Biden-Ukraine Scandal A “Conspiracy Theory”

New Yorker Journo Who Peddled Discredited Kavanaugh Hit-Job Calls Biden-Ukraine Scandal A “Conspiracy Theory”

Narrative-shaping establishment minions are scrambling to make us understand that former Vice President Joe Biden and his son Hunter simply couldn’t have engaged in textbook corruption in Ukraine and China. More importantly, any investigation into said allegations is beyond the pale – especially if it might ruin the left’s chances of dislodging ‘orange man bad’ from the Oval Office in 2020. 

On Friday, the New Yorkers resident anti-Kavanaugh crusader Jane Mayer spent the better part of 2100 words lashing out at the effort to investigate the bidens, reducing credible allegations to a “conspiracy theory” despite direct evidence that at minimum, Joe Biden leveraged his office to get a Ukrainian prosecutor, Viktor Shokin, fired.

Shokin was investigating Burisma holdings, an oil and gas company paying Hunter Biden $600,000 per year to sit on its board next to a former CIA Director – when the younger Biden’s only apparent qualification was having been born right. If you think that’s odd, you may be a conspiracy theorist. 

To discredit Shokin, Mayer repeats the well worn claim that “European and US officials, including Joe Biden, complained that he [Shokin] was lax in curbing corruption.” Perhaps, but let’s see some evidence from the period leading up to his ouster that doesn’t include high-level hearsay. 

In short, Jane’s latest diatribe does little to address the merit of the allegations against the Bidens. Instead, she seeks to delegitimize conservative journalists reporting on it, such as The Hill‘s John Solomon and Breitbart‘s Peter Schweizer – calling them “political partisans pushing complicated and hard-to-check foreign narratives” who are engaging in disinformation. 

“Anyone trying to track the Ukrainian conspiracy stories that were eventually embraced by President Trump is likely to get mired in the same echo chamber of right-wing news purveyors that misinformed voters in 2016,” Mayer writes. 

Schweizer went a step further. His chapter implied not just that Burisma was a crooked company but that the end of a Ukrainian criminal investigation into it on January 12, 2017, was in some unstated way connected to Joe Biden’s visit to the country four days later. In this way, Schweizer floated the possibility that, as Vice-President, Biden had abused his power to protect the company or his son from prosecution. Yet Schweizer provided no proof of causation nor evidence of illegality. –New Yorker

Where she does address the Biden-Ukraine scandal, Mayer makes unexplored claims such as “The Burisma investigation had been dormant under Shokin,” without noting that Shokin said in a sworn affidavit “The truth is that I was forced out because I was leading a wide-ranging corruption probe into Burisma Holdings, a natural gas firm active in Ukraine and Joe Biden’s son, Hunter Biden, was a member of the Board of Directors.

We suppose it’s entirely possible that Hunter Biden and John Kerry’s stepson coincidentally landed a $1.5 billion contract in China all by themselves just two weeks after Joe and Hunter flew there together on Air Force Two. Again, however, you might be a conspiracy theorist if you suspect otherwise. 

And while Hunter’s lucrative Ukraine dealings were outrageous enough in 2014 for ABC News Chief White House Correspondent Jonathan Karl to ask Obama’s then-press secretary Jay Carney about the “appearance of conflict,” such questions are apparently the stuff of ‘conspiracy theory’ according to Mayer. 

Another glaring red flag is the pass given to the Bidens for lying about Joe’s knowledge of Hunter’s dealings – with Joe claiming the two “never spoke” of them, and Hunter later telling the New Yorker the two had discussed Burisma “just once.”

Of course, when a Clinton Foundation board member tells a Trump campaign aide that Russia has dirt on Hillary – a rumor he later repeats to an Australian diplomat, let’s kick off a multi-year counterintelligence investigation on the premise that Trump is working with Russia and not call it the actual conspiracy theory it turned out to be. We can only imagine what would turn up if the FBI and a special counsel spent over three years similarly pursuing the Bidens.

It’s OK when we do it… 

When it comes to President Trump and anyone else whose name has been so much as uttered in the same breath, hearsay and ‘concerns’ are enough to launch investigations.

To that end – for someone who thinks “evidence of illegality” is the standard by which claims should be investigated, Mayer peddled several eleventh-hour sexual assault accusations against Supreme Court Justice Brett Kavanagh – most notably that of Christine Blasey Ford, whose claim has largely unraveled after the people she says were at a High School party where Kavanaugh allegedly assaulted her can’t recall the incident, and have in fact denied it happened or otherwise refuted her account (Mayer also co-wrote a 1994 book, Strange Justice, used in a similar eleventh-hour attack against Supreme Court Justice Clarence Thomas). 

For Biden, we suddenly require proof behind dots even a caveman could connect. 

Meanwhile, the leftist journo was also called out by Meghan McCain on “The View” for her defense of former Democratic Senator Al Franken, who resigned after eight women accused him of sexual misconduct

In summary; pay no attention to that man behind the curtain if he’s a Democrat, and you’re a conspiracy theorist for even thinking of looking.


Tyler Durden

Sun, 10/06/2019 – 09:45

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These Are The Top American Cities For Starting A Small Business

These Are The Top American Cities For Starting A Small Business

Friday’s jobs report has helped stoke speculation that the American labor market is finally beginning to cool (though the 136k jobs number was still better than the whisper number, which saw September payrolls sinking below 100k). As the pace of hiring slows, more Americans might be forced to make bold career moves – like deciding to start their own business.

And why not? As Adrian Mak wrote in a recent blog post for AdvisorSmith, new business formation is a critical driver of the American economy, even as large corporations continue to strengthen their grip.

Using data gleaned from a recent study that looked at 353 US cities across all 50 states, AdvisorSmith ranked the best US cities for starting a small business.

All told, the US has roughly 6 million businesses with more than one employee. In 2018 alone, approximately 750,000 new businesses were created in the US.

Of course, only a fraction of these businesses will survive longer than 5 years.

And unsurprisingly, the top states for small-business creation are mostly in the West and South, with Montana taking the No. 1 spot. 

Small and mid-size cities in the West accounted for 9 of the top 10 cities where people are most likely to start a business.

To start, the researchers at AdvisorSmith divided cities up into three categories: Small (under 150,000), medium-size (between 150,000 and 500,000) and large (more than half a million residents).

Taking a step back, AdvisorSmith also ranking the top cities across the three categories.

Here’s a breakdown of the top five (text courtesy of AdvisorSmith):

1. Carson City, NV

As the capital of Nevada since the state was established in 1864, Carson City was named after the American frontiersman Kit Carson. The city was founded as a stopover for travelers to California, but it later gained substantial population when silver was found nearby at Comstock Lode. Located just east of Lake Tahoe and south of Reno, Carson City is a center for both business and politics in Nevada. The city also has some tourism-related economic activity, with gambling and hospitality being contributors. As the city with the highest rate of new job creation in the country, Carson City had 4.61 new businesses started per 1,000 residents.

2. Boulder, CO

Boulder is a midsize city located 25 miles northwest of Denver at the foot of the Rocky Mountains. The city was initially settled by gold prospectors in the mid-19th century, and soon afterwards, it was chosen to be the main location for the University of Colorado. The existence of the University has exerted a strong influence on the history and economy of the city, with a highly-educated population and strong quality of life. Boulder is also well known for its strong culture of bicycling, which includes a substantial dedicated bike infrastructure. Boulder had 4.52 businesses started per 1,000 population in this study.

3. Missoula, MT

Missoula is a small city that started as a trading post in the mid-1800s. The city is located along the Clark Fork River in western Montana, and it is the second largest city in Montana. Lumber became a key industry in the city, along with education as the University of Montana was established in 1893. The existence of the University has provided the city with a highly-educated workforce and encourages the development of technology startups, in addition to being the city’s largest employer. Missoula had a very high new business creation rate of 4.09 per 1,000 residents.

4. Coeur d’Alene, ID

Coeur d’Alene is located in the northwestern portion of Idaho, near the city of Spokane, Washington. Coeur d’Alene is situated on Lake Coeur d’Alene, with a growing economy driven by resort tourism as well as nearby ski resorts. The city has many outdoor activities, including boating, mountain biking, kayaking, hiking, riding ATVs, hunting, and fishing. Locals call the city “Lake City” or simply CDA. Entrepreneurs in Coeur d’Alene started 3.87 new businesses per 1,000 people in our study.

5. St. George, UT

Located in the southern part of Utah, adjacent to the Arizona border, is St. George, a midsize city near several well known national parks, such as Zion National Park, Bryce Canyon National Park, and the Grand Canyon. Tourism to these parks is an important part of the economy in the city. Due to the city’s warm desert climate, golf is another important draw to the city, with many residential communities oriented around golf courses. St. George also hosts the headquarters of SkyWest Airlines. St. George had a new business creation rate of 3.83 new businesses created per 1,000 population.

Here’s an expanded list of the top 50:

* * *

While starting an independent business gives every American a chance to fulfill the dream of being their own boss, the most recent NFIB survey of small business confidence showed that small businesses aren’t immune to the economic malaise that has emerged over the past three-to-six months.

In August,  the NFIB’s gauge of small businesses’ confidence in the economy declined again, shedding 1.6 points to 103.1. Only a few months ago, the gauge climbed above 108 for the first time since it was created forty years ago.

It’s just another example of how quickly the economic backdrop is shifting under our feet.


Tyler Durden

Sun, 10/06/2019 – 09:00

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Inside The Life Of Hunter Biden: The WaPo Reveals A ‘Troubling Tale Of Privilege’

Inside The Life Of Hunter Biden: The WaPo Reveals A ‘Troubling Tale Of Privilege’

As the MSM runs interference for Joe Biden and his son Hunter – taking cues from Congressional Democrats who have cloaked allegations of Ukraine corruption in a smokescreen of impeachment proceedings, the Washington Post‘s David Von Drehle has penned his take into the life of Hunter Biden in a Friday Op-Ed. 

That said, Von Drehle’s goal may be to generate sympathy for the Bidens – as he dismisses the effort to investigate the Bidens’ alleged corruption in Ukraine and China as a “spectacle” despite credible allegations of nepotism which have yet to undergo a thorough investigation. 

The story of the Bidens, father and son, is more pathetic than nefarious,” writes Von Drehle. Still, the background information makes this worth a read.

Select excerpts via The Washington Post (emphasis ours)

“It’s likely you already know the beginning of the story, at least through Joe’s eyes. The high point of his young life, his election to the U.S. Senate, collided fatally with the low point: a car wreck in which his young wife and daughter were killed. Two young sons, Beau and Hunter, survived the wreck — to live with the wreckage. Because let’s be real, folks, as Joe Biden likes to say: The crash took their mother, but in a real sense, that election took their father. I don’t care how many Amtrak trains the ambitious young senator caught to kiss his sons’ foreheads as they drifted off to sleep, or how many rides the boys took on the Capitol Hill subway as Dad worked. Politics is a punishing life for the children involved — presidential politics especially. And Joe Biden has always been running for president.

Beau Biden coped by making himself into a chip off the old block. That left Hunter to find his own lane. As Entous details it, the youngest Biden tried the arts, law, finance, political influence peddling. The consistent themes are booze and cocaine. The profile groans under a litany of failed rehabs.

Soon enough, directionless Hunter has a six-figure job at a bank run by Biden supporters. When Hunter grows bored, there’s another lucrative job under the tutelage of a former Biden staffer. When Hunter wants a house he can’t afford, he receives a loan for 110 percent of the purchase price. And when he goes bust, another friendly banker mops up the damage.”

Then his brother Beau contracts fatal brain cancer, and the last wobbly wheels come off Hunter Biden’s fragile self. At this point, the New Yorker piece becomes a gonzo nightmare — much of it narrated by Hunter himself — of hallucinations, a car abandoned in the desert, maxed-out credit cards, a crack pipe, a strip club and a brandished gun.

If, as the magazine headline put it, Hunter Biden now jeopardizes his father’s campaign, the article makes clear Joe Biden feels a share of the blame. Yet, by the time the senator was vice president, the folks still willing to help Hunter were of a sketchier variety. There was a Chinese businessman who, Hunter said, left him a large diamond as a nice-to-meet-you gift. And a Ukrainian oligarch who hired Hunter at a princely sum to do nothing much. (Neither the firm nor Hunter Biden identified any specific contribution he made). Joe Biden’s response, according to his son, was: “I hope you know what you are doing.”

So while the Washington Post‘s Van Drehle excuses unlitigated allegations of Biden corruption as “more pathetic than nefarious,” and attempts to investigate them a “spectacle,” his take on Hunter’s unquestionable life of privilege is nonetheless spot on. 


Tyler Durden

Sun, 10/06/2019 – 08:15

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AOC Accuses Trump Of Anti-Semitism Over Attacks On “Lyin’ Shifty Schiff”

AOC Accuses Trump Of Anti-Semitism Over Attacks On “Lyin’ Shifty Schiff”

Alexandria Ocasio-Cortez escalated her ongoing Twitter feud with President Trump on Saturday when she accused him of harboring anti-Semitic views, according to the New York Post.

AOC claimed that Trump’s unrelenting Tweets about Schiff, where the president calls the Democratic committee chairman ‘Lyin’ Schiff’ and  ‘Schifty Schiff, exhibited ant-Semitic tropes.

Then again, Trump isn’t the only high-profile individual who has been hammering Schiff over the Democrats’ plans to try and impeach the president.

Even the Washington Post awarded Schiff with four Pinochios over claims he made on ‘Morning Joe’ about his committee’s contacts with the ‘whistleblower’ who filed a complaint against Trump while relying on second-hand information.

“Understand that Trump is engaged in deliberate, atrocious, targeted antisemitism towards Chairman Schiff,” AOC said about Trump and his tweets.

Again, here are a few examples of the tweets in question:

…Plus a couple of retweets…

…Since the impeachment imbroglio started last month, Trump has regularly derided Schiff – who, as chairman of the Intelligence Committee, is in charge of leading the impeachment inquiry, along with Rep. Jerry Nadler, the chairman of the Judiciary Committee – as a liar and a fraud.

But Schiff isn’t the only democrat to draw Trump’s ire. Last week, the president lashed out at AOC herself, deriding her as a ‘Whack Job’ in a now-infamous tweet.

Also important to keep in mind: Trump’s son-in-law Jared Kushner is an orthodox Jew, and Trump’s daughter Ivanka Trump converted before they married. The couple’s tw


Tyler Durden

Sun, 10/06/2019 – 07:30

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As Hong Kong ATMs Run Out Of Cash, Central Bank Steps In To Prevent “Panic Among The Public”

As Hong Kong ATMs Run Out Of Cash, Central Bank Steps In To Prevent “Panic Among The Public”

As the violence in Hong Kong escalates with every passing week, culminating on Friday with what was effectively the passage of martial law when the local government banned the wearing of masks at public assemblies, a colonial-era law that is meant to give the authorities a green light to finally crack down on protesters at will, one aspect of Hong Kong life seemed to be surprisingly stable: no, not the local economy, as HK retail sales just suffered their biggest drop on record as the continuing violent protests halt most if not all commerce:

We are talking about the local banks, which have been remarkably resilient in the face of the continued mass protests and the ever rising threat of violent Chinese retaliation which could destroy Hong Kong’s status as the financial capital of the Pacific Rim in a heart beat, and crush the local banking system. In short: despite the perfect conditions for a bank run, the locals continued to behave as if they had not a care in the world.

Only that is now changing, because one day after a junior JPMorgan banker was beaten in broad daylight by the protest mob, a SCMP report confirms that the social upheaval has finally spilled over into the financial world: according to the HK publication, the local central bank, the Hong Kong Monetary Authority, was forced to issue a statement warning against a “malicious attempt to cause panic among the public” after rumors were spread online about the possibility of the government using emergency powers to impose foreign-exchange controls.

And while the de facto central bank stressed that the banking system remained robust and well positioned to withstand any market volatility, some of the statistics it provided gave a rather troubling impression: the monetary authority said that not only were more than 10% of 3,300 ATMs damaged and could not function, but that banks were negotiating with logistics firms to refill cash machines as 5% of them had run out of money, adding that banknote delivery was affected by the closure of shopping malls and MTR stations.

Will this be enough to prevent a bank run on the remaining ATMs? The answer will largely depend on what happens in the next 24-48 hours in Hong Kong, although the signs are grim.

Earlier in Saturday, Hong Kong’s embattled leader, Chief Executive Carrie Lam Cheng Yuet-ngor, appealed to the public to condemn protest violence and disassociate themselves from rioters, saying the chaos they unleashed across the city the previous night after the announcement of a ban on the wearing of face masks at public assemblies was the reason such a controversial restriction had to be imposed in the first place.

In a five-minute taped video released on Saturday afternoon, a grim-faced Lam, flanked by 14 of her top officials, slammed those who were responsible for the “outrageous” rampage. After rioting mobs trashed MTR stations, set a train on fire and assaulted railway staff on Friday night, the entire network remained closed on Saturday, depriving citizens of their primary mode of public transport. It remained uncertain whether it would open on Sunday.

“Horribly violent incidents took place in various districts in Hong Kong last night. The extreme acts of the masked rioters were shocking and the level of vandalism was unprecedented,” Lam said.

“The extreme acts of the rioters brought dark hours to Hong Kong last night and half-paralysed society today. Everyone is worried, anxious and even in fear.”

Carrie Lam, flanked by 14 of her ministers, blasted the acts of rioters on Friday night and called them ‘shocking and outrageous

Meanwhile, Hong Kong is on the verge of complete socio-economic paralysis as dozens of shopping centres, retail outlets, grocery stores and banks did not open for business for fear of more protest violence and vandalism.

Lam mentioned the case of a plain-clothes officer who was beaten and burned with petrol bombs by a mob in Yuen Long, saying he “had no choice but to shoot in self-defence”, wounding a teenager who was later arrested on charges of taking part in a riot and assaulting police. The violence provided solid grounds for imposing the anti-mask law, she said, defending the government’s decision to introduce it by invoking the tough colonial-era Emergency Regulations Ordinance for the first time in more than half a century.

“The government will curb violence with utmost determination,” she said. “Let’s condemn violence together and resolutely disassociate with rioters.”

Alas, if she had hoped her address would ease tensions, she was wrong: even as Lam’s video message was being broadcast on television and shared on the internet, hundreds of Hongkongers, many of them masked, started to march from Causeway Bay to Central to protest against the ban.

One of the marchers, a 22-year-old named Louie, said it was unfair of Lam to ask the public to shun masked rioters.

“She is making us a target even though we are the ones fighting for our freedom as Hongkongers,” she said. “Masks hold an important symbol in Hong Kong. We used masks during the Sars [severe acute respiratory syndrome] outbreak of 2003 and to protect ourselves against tear gas. It’s a symbol of resistance and you cannot take that away from us.”

Earlier on Saturday, Security Secretary John Lee Ka-chiu made a similar appeal for the public to stop supporting the rioters, while dismissing accusations that the government had added fuel to the fire with the mask ban.

“The introduction of the anti-mask regulation is to make sure that those who commit crimes and commit violence will have to face justice, so that they cannot hide behind their masks to escape their responsibilities,” Lee said.

“What is adding oil to violence is people’s support for these acts or people’s acquiescence in finding reasons for this violence to continue. So what is important is that everybody comes out to say, ‘No, society will not accept violence.’”
Lee noted that no one had been arrested yet under the new law that came into effect on Saturday.

Justice Secretary Teresa Cheng Yeuk-wah said the government would not rule out tougher measures using emergency powers if the protests continued to spiral out of control. These could include extending detention hours for those arrested and directly funding police without prior scrutiny by the legislature.

Ultimately, however, it will be up to China: does Beijing allow the protests to gather ever more momentum and international support before it intervenes, or will the People’s Liberation Army finally make a grand entry and begins the crackdown that marks the beginning of the end for Hong Kong as the financial pearl of the orient.

For an indication of what happens next, keep an eye on bitcoin: as we reported previously, LocalBitcoins, a popular platform for directly trading Bitcoin peer-to-peer, posted its highest trading volume ever in Hong Kong last week.

And if the local ATMs just happen to “run out” of money, watch as Hong Kong demand for bitcoin and other altcoins – not to mention gold – sends shockwaves across the world… and prices sharply higher.


Tyler Durden

Sat, 10/05/2019 – 23:00

via ZeroHedge News https://ift.tt/2LOlj6W Tyler Durden

A Fake Letter To Fake Employees On The Verge Of A Modern IPO

A Fake Letter To Fake Employees On The Verge Of A Modern IPO

Authored by Jason Gay of the Wall Street Journal

ILLUSTRATION: ZOHAR LAZAR

To the staff:

Folks, I know everyone was excited about cashing in on our upcoming public offering, but it looks like this whole “profitability” craze is here to stay, at least for a while. We’re going to have to delay the IPO. Believe me, I am as disappointed as you are. I’d already picked out four private islands! Which technically would have been—yes—my own archipelago. Sigh.

In the meantime, we’re going to have to tighten up until this businesses-should-make-money fad blows over. Here are some company-wide decisions, effective immediately:

After great consideration, we are going to sell the private jets. This is a decision that is both symbolic and practical. It was not a good look for us to own a fleet of Gulfstreams. It was especially not a good look for us to fly them to Rome for Thursday pizza nights.

We are also going to sell the company elephant, Bobo. We all loved him, and he was fantastic at staff birthday parties, but Bobo was becoming a bit of a distraction in the office. And let’s face it: the smell.

Our founder has emailed to ask that you no longer refer to him as Supreme Genius Being of Gaia. He’s back to being Dennis.

Also: Dennis’s 2020 independent presidential campaign has NOT ended. It’s simply “suspended.” (Admittedly, I do think Dennis got a little bored and forgot he was running.)

Remember, Dennis is still in month three of a two-year executive vow of silence, so do not expect a verbal response from him on any of these topics.

Those of you who “borrowed” a company Bugatti from the company Bugatti share, please return it ASAP.

We need to put a good public face on our situation. If a stranger mentions the IPO delay and asks you what our company is really about, take a good look at the their footwear. If they’re wearing dress shoes, say “we’re a revenue-based subscription model.” If they’re wearing sneakers, it’s still OK to say “we’re a lifestyle brand.”

I don’t know what a “lifestyle brand” is, either, but if you get stuck, just say “it’s like Nike meets Netflix.”

If they keep asking questions, just run and hide behind a tall plant.

Really, all you need to know is this: We are not launching a chain of fast-casual vegan restaurants on the moon in November. It’s delayed indefinitely.

Same goes for the cat yoga studios. We’ll workshop those internally, with stuffed cats.

There will no longer be a manager’s retreat in Gstaad, Switzerland. It will be at Applebee’s.

We are not going to be breaking ground on HQ 2.0. Wall Street did not seem terribly enthused with Dennis’s idea for a Frank Gehry-designed underwater office building with a private missile defense system and a dolphin launch.

Playing beer pong on Friday afternoon is still OK. But please stop playing Pappy Van Winkle 23 pong. And no more Ortolan Wednesdays.

I regret the Rolling Stones will not be playing the Holiday Party, as previously announced. Instead, it will be Side Door, the band Dennis’s son founded with his teammates on the USC crew team.

Ashton Kutcher is STILL visiting the office on Tuesday. Smiles, everyone! And zipped lips about Bobo. Bobo loved Ashton.

Last but not least, and you probably saw this coming, but we will not be furnishing company logo fleece vests for the winter.

I know this stresses some of you out. Because of this, we will be returning carbohydrates to the cafeteria.


Tyler Durden

Sat, 10/05/2019 – 22:30

via ZeroHedge News https://ift.tt/2pPf9uJ Tyler Durden