Tag: finance

Bank of England Needed to Plan Ahead of Time to Avert Pound Flash Crash (Video)

By EconMatters


Governmental Authorities may want to weaken their currencies, but they have to do this in an orderly fashion over time, in order to avoid flash crash scenarios, they need to identify key areas to backstop their currency market ahead of time with massive size to prevent what occurred Thursday night in the British Pound. Intervening after the fact is useless for financial market stability.

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Gold CoT Report Is Playing Out As Usual: First Lower, Then Much Higher Prices Coming

Submitted by John Rubino via DollarCollapse.com,

This year’s recovery in precious metals prices – and the sudden spike in gold/silver mining stocks – convinced a lot of people that a new bull market had begun. Last week’s brutal smack-down scared the hell out of many of the same folks.

The latest commitment of traders (COT) report implies that we should all relax. Things are playing out pretty much according to a script that’s been in place for decades — and which points to happy times by early next year.

The quick and dirty COT story is that it’s a snapshot of what the big players in gold/silver futures contracts are up to. There are two main groups in this market: the commercials (mostly big banks and companies that buy metal to turn it into coins, jewelry and industrial products) and speculators who bet on price moves. The former consistently fool the latter into guessing wrong at turning points. That is, the speculators are usually way long at the top and very short at the bottom. So you can tell where prices are headed over next the six or so months by looking at what the speculators are betting on and assuming that if they’re excited, they’re wrong. The following chart illustrates the point. Ignore everything here except the red line, which represents the speculators. When it’s way up, they’re very long and prices are about to fall, and vice versa.

cots-oct-16

This year they’ve gone record long, which explains the fast recovery in metals prices and mining stocks: The speculators were piling in. This of course sets the stage for an eventual correction. So what happened last week was to be expected (though it was several months overdue, illustrating the point that the COT report is great for direction but dangerously unreliable for timing).

So now that we know why the beat-down is happening, let’s see what this indicator says about when (in very general terms) it might end. Here are the weekly COT reports for gold and silver through last Tuesday, courtesy of our good friends at GoldSeek:

gold-cot-oct-16

silver-cot-oct-16

Note that the speculators are cutting their long positions while the commercials are scaling back their shorts. Here’s the same data expressed in percentages:

cot-percentages-oct-16

The key conclusions:

– Both groups are moving in the right direction to establish a precious metals bottom. That is, if they keep this up, eventually the commercials will be long and the speculators short, setting up a situation where the speculators will be forced to close their shorts by buying gold/silver, thus sending their prices up.

– The commercials are moving a little more aggressively than the speculators to close out their positions. Not sure that that means.

– Neither group had done all that much as of Tuesday the 4th, which implies that the bottom is not yet in sight.

– Based on the brutality of the final three trading days of last week, next week’s COT report will probably show a much bigger move in the right direction — that is, the speculators will be a lot less long. So on Friday the 14th (when Tuesday the 11th’s results are reported) we’ll have a better sense of how close that bottom is.

– The carnage in bullion and mining shares represents a great buying opportunity because eventually these paper games will stop working. The fundamental environment – negative interest rates, massive government deficits, steady increases in private sector debt, incipient banking/credit crises everywhere you look – is phenomenally good for real assets like gold and silver. So who knows? This might be the last chance to get in before the phase change.

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Saudi Air Strike Kills At Least 82, Injures 534 At Yemen Funeral

While the US and western powers condemn Russian airstrikes conducted in Aleppo, to the point where yesterday John Kerry accused Russia of “crimes against humanity”, a parallel campaign waged by Saudi Arabia in Yemen gets little press coverage.

Perhaps as a test how far it can go without provoking a diplomatic rebuke, earlier today an air strike by the Saudi-led coalition on mourners in Sanaa on Saturday killed at least 82 people, the acting health minister in the Houthi-led administration in the Yemeni capital said. Ghazi Ismail told a news conference in Sanaa the number of people wounded in the attack was 534, Reuters adds.

The International Committee of the Red Cross said it had prepared 300 body bags. Hundreds of body parts were found inside and outside the hall after the strike.

“The number of casualties from the air force of the Saudi-American aggression at the main hall in the capital Sanaa has risen to more than 450 dead and wounded,” the SABA news agency quotes Abdul-Salam al-Madani, who is a deputy to the Houthi health minister, as saying.

A missile tore through the hall of the building, leaving many dead and injured, Reuters reported earlier, citing eyewitnesses. According to the news agency, a medic said that he saw “mutilated and charred bodies,” adding that the funeral was being held for the deceased father of the Houthi rebels’ Interior Minister. Military and security officials from the rebel movement are among the victims, according to the outlet.

Among people at event was Jalal al-Rowaishan, interior minister appointed by Shiite Houthi rebels. Mayor of Sana’a Abdulkader Hilal was killed: al-Yeman al- Youm TV, a station loyal to former President Ali Abdullah Saleh, reported. Some victims were leaders of Shiite Houthis or members of party of Ali Abdullah Saleh: various media including AP.

Images of a destroyed building, partly still aflame, showed the extent of the devastation in the aftermath of the strike.

The tensions in Yemen spiraled after President Ali Abdullah Saleh was deposed in 2012. In response, his Houthi supporters seized the capital city of Sanaa in 2014, before advanced to the south and seizing large parts of Yemen, forcing current Sunni President Abd-Rabbu Mansour Hadi into exile. In March of 2015, the Saudi-led coalition began airstrikes in order to stop Houthi advances and restore Hadi to power.

By late summer of that year, Saudi-led forces had launched a ground operation as well.

As RT reports, one of the deadliest attacks occurred after the coalition’s aircraft attacked a crowded marketplace in Mastaba, a village in Yemen’s northern Hajja governorate in April. The UN children’s agency, UNICEF, put the death toll from that airstrike at 119, including 22 children. In August, at least 11 people were killed and 19 injured in an airstrike that targeted a hospital in northwestern Hajjah province, according to Doctors Without Borders (MSF).

* * *

The attack comes in the aftermath of the Wikileaks revelation of the “Podesta Files” which among other topics, touched on Hillary’s previously undisclosed private comments about Saudi Arabia, among which her admission to a Jewish United Fund Advance & Major Gifts Dinner in 2014 that “the Saudis have exported more extreme ideology than any other place on earth over the course of the last 30 years.” “

Hillary Clinton Said The Saudis Opposed The Muslim Brotherhood, “Which Is Kind Of Ironic Since The Saudis Have Exported More Extreme Ideology Than Any Other Place On Earth Over The Course Of The Last 30 Years.” “And they are getting a lot of help from the Saudis to the Emiratis—to go back to our original discussion—because the Saudis and the Emiratis see the Muslim Brotherhood as threatening to them, which is kind of ironic since the Saudis have exported more extreme ideology than any other place on earth over the course of the last 30 years.” [2014 Jewish United Fund Advance & Major Gifts Dinner, 10/28/13]

As well as her admission that the “Saudis have been shipping large amounts of weapons—and pretty indiscriminately—not at all targeted toward the people that we think would be the more moderate, least likely, to cause problems in the future, “

Hillary Clinton Said She Favored “More Robust, Covert Action” In Syria But Said Things Have Been “Complicated By The Fact That The Saudis And Others Are Shipping Large Amounts Of Weapons—And Pretty Indiscriminately.” “Now, there is another group, which basically argued we do have a national interest in this because refugee flows, jihadist recruitment, giving of large parts of Syria over to uncontrollable groups that threaten Israel, Jordan and others, through conventional means is very much against our interests, and the debate has been can you really influence that?      Some of us thought, perhaps, we could, with a more robust, covert action trying to vet, identify, train and arm cadres of rebels that would at least have the firepower to be able to protect themselves against both Assad and the Al-Qaeda-related jihadist groups that have, unfortunately, been attracted to Syria.  That’s been complicated by the fact that the Saudis and others are shipping large amounts of weapons—and pretty indiscriminately—not at all targeted toward the people that we think would be the more moderate, least likely, to cause problems in the future, but this is another one of those very tough analytical problems.” [2014 Jewish United Fund Advance & Major Gifts Dinner, 10/28/13]

She also stated that the Saudi regime is not the “stablest you can find on the planet” and is fraught with all kinds of problems:

Hillary Clinton Said The “Saudis In Particular Are Not Necessarily The Stablest Regimes That You Can Find On The Planet.” “So mutually assured destruction as we had with Europe in the ‘40s, ‘50s, ‘60s, ‘70s, ‘80s until the fall of the Soviet Union is much harder to do with the gulf states and it will be unlikely to occur because they will think that they have to defend themselves.  And they will get into the business of nuclear weapons, and these are—the Saudis in particular are not necessarily the stablest regimes that you can find on the planet. So it’s fraught with all kinds of problems.” [ Speech to Goldman Sachs, 2013 IBD Ceo Annual Conference, 6/4/13

As a result of the cozy relationship between Saudi and the US, we are confident there will be little public outcry against this latest deadly attack by the Saudi regime, as all focus remains on Russia.

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WARNING: The Coming Collapse Of U.S. Net Worth Will Wipe Out Millions Of Americans

SRSrocco

By the SRSrocco Report,

As the Financial Circus continues today, pushing down the precious metals prices, millions of Americans are going to get wiped out when the collapse of U.S. net worth begins in earnest.  Anyone with a tad bit of common sense realizes these financial markets today are totally disconnected from reality.

With new stories of 40 million Russians to take part in “Nuclear Disaster” drill, the Philippine President telling President Obama “To Go To Hell”, he’s buying weapons from Russia, U.S. Suspends Diplomatic Relations With Russia on Syria, U.S. Ends Fiscal 2014 With $1.4 Trillion Debt Increase: Third Largest In History, Deutsche Bank Troubles Raise Fear of Global Shock, it’s completely hilarious that the gold and silver prices are selling off big time today.

With 90% of the U.S. media now in control by six large mega-corporations, Americans have no idea just how bad the U.S. financial system has become.  News stories today that would have caused a stock market crash and a spike in the precious metals years ago… no longer are a realistic barometer of the market today.  Instead, the broader Stock, Bond and Real Estate Markets where 99% of Americans are invested, continue to be propped up.

How propped up?  Well, let’s say by a staggering $31 trillion in the past six years.  According to the wonderful folks at the Federal Reserve, U.S. net worth increased from $57.9 trillion Q2 2010, to a stunning $89 trillion Q2 2016:

FRED U.S. Net Worth

I would imagine a lot of wealthy Americans believe they are living life “High On The Hog” today.  However, that $31 trillion in additional wealth is a nothing more than a “Digital Mirage.”  For wealth to grow, more energy must be burned and positive economic activity must be generated.  This is the foundation of all economic principles.

Unfortunately, Americans did not burn more energy to create this additional $31 trillion in U.S. net worth.  Matter-a-fact, total U.S. energy consumption in 2016 will likely turn out to be less than it was in 2010:

U.S. Net Worth vs Energy Consumption

This chart is very simple to understand.  The left axis shows U.S. net worth in trillions of dollars while the right axis indicates total U.S. energy consumption in quadrillion Btu’s (that’s one hell of a lot of energy).  As we can see, total U.S. energy consumption has fluctuated a bit, but has been relatively flat for the past six years.

Moreover, total U.S. energy consumption will likely be lower in 2016 (96.5 quad Btu’s) compared to 2010 (97.4 quad Btu’s).  On the other hand, total U.S. net worth has climbed to $89 trillion versus $57.9 trillion in 2010.  So, the real question is… where did this extra $31 trillion in U.S. net worth come from if total energy consumption was flat?

In all likelihood, the increase in U.S. net worth came via the tens of trillions of dollars of Fed and Central Bank liquidity.  Basically, hot air and lots of smoke and mirror accounting.

We can clearly see the same type of financial insanity taking place in the growth of U.S. GDP – Gross Domestic Product:

U.S. GDP vs Energy Consumption

How the U.S. GDP increased nearly 25% in six years while its energy consumption remained flat is one for the record books.  Now, this wasn’t always the case.  U.S. energy consumption nearly tripled from 34 quad Btu’s in 1950 to 98 quad Btu’s in 2000.  Thus, U.S. GDP increased as total energy consumption increased.

However, the magicians at the Federal Reserve and U.S. Treasury figured out a  NIFTY way to increase our Net Worth  and GDP for the past six years while energy consumption remained flat.  Unfortunately, most Americans don’t understand this “Ponzi Finance 101″… including most of the highly educated intellectuals.

This is what I call “Intelligent Stupidity.”  The country is full of really smart people who are completely stupid when it comes to basic financial and economic sense.  Instead, they have been infected by what James Kunstler calls, “Wishful Thinking.”

WARNING:  Most Analysis Out There Is Completely Useless

There’s quite a lot I can write about this topic.  Let me start off by saying, we can totally write-off the Mainstream media (MSM).  Once you understand that, you have 90-95% of the battle won.  Unfortunately, there is still a lot of incomplete, faulty and lousy analysis by the internet alternative media.

I am not trying to be harsh here, but the truth of the matter is that a significant percentage of the alternative media is full of companies and sites that promote lousy conspiracies, pump & dump stock scams and precious metals selling fraud or thievery.

This is really a horrible situation.  When some poor American finally wakes up to the Greatest Financial Ponzi Scheme in history and starts to read the alternative media, chances are high that they are misled or taken advantage of financially.

For example, one of the websites that I used to read several times a week was just bought out by one of the largest financial newsletter organizations.  This gentleman is on CNBC often and puts out some pretty good stuff that Zerohedge posted all the time.  I gather many of you will figure this out.

More and more BIG NAMES are selling their souls for the very DOLLAR that they say they despise.  How despicable.

While I don’t have a problem with someone charging for original content, I do have a problem when the analysis is faulty, lousy or misleads the public.  I would imagine a small handful of folks who read my work may say the same about me.  However, you can’t please everyone.

This is the reason why I offer donations rather than a paid subscription service.  If someone finds merit in the work, then they are more than welcome to contribute.  I believe the information I publish is really important for all the public to understand.

The problem with much of the alternative media analysis, is that it fails to include the key factor… ENERGY.   Today, I see that SilverDoctors has published one of Keith Weiner’s articles titled, Deutsche Fuels Silver, To The DOWNSIDE.  In the article, Weiner makes the following claim on silver:

One thing’s for sure, silver is a lousy bet at this price with these fundamentals. Buying silver right now—at least if you’re buying it on speculation of a price gain—is almost the textbook definition of a Ponzi scheme.

Keith’s work is based on the “gold and silver basis”, which refers to the current abundance or scarcity of metal in the market.  This is based on short-term trading activity, not long-term fundamentals.

I would kindly like to remind my readers that right before the 1929 Stock Market Crash and Great Depression, American Economist Irving Fisher made his infamous statement, “Stock prices have reached what looks like a permanently high plateau.”  Unfortunately, nothing has changed with economic or financial wisdom in 87 years.  Americans are just as gullible as ever…. even worse.

Keith Weiner forecasts the paper gold and silver price much the same way the musicians on the Titanic continued to play their instruments as the ship sank.  Thus, Weiner is acting just like the musicians on the Titanic who were trying to calm the passengers.  Instead, Weiner’s analysis is focusing on the short-term noise (music) while the entire U.S. economy will sink down the toilet.

The Coming Thermodynamic Oil Collapse Is Worse Than I Realized

Last week, I spoke with Bedford Hill of the Hills Group about their “Thermodynamic Oil Collapse” model.  What an interesting conversation it was.  Bedford Hill was the project manager of a group of engineers that put over 10,000 hours in designing their Thermodynamic Oil Collapse model.

Bedford told me that after they ran the model, the results were so shocking, they sat on the damn thing for two years before publishing.  I asked him did any of the engineers that worked on the model disagree with the results?  His answer was, “Not a single one disagreed.”

It has taken me some time to digest this new energy information as well understand the details by talking with Bedford Hill and Louis Arnoux of nGeni.  Again, I will be interviewing these gentlemen on this Thermodynamic Oil Collapse model and the implications shortly.

EROI levels

Anyone interested in reading the Hills Group work, you can go to their website, thehillsgroup.org, or check out their detailed report.

The rapidly falling EROI – Energy Returned On Invested is gutting the entire U.S. oil industry and economy.  Instead of the United States enjoying real fundamental growth based on increased energy consumption, we have turned to inflating electronic digits as an indication of our wealth.

As I explained in the beginning of the article, U.S. energy consumption has been flat for the past six years, while U.S. GDP has increased nearly 25%, as our supposed net worth has jumped 54%.  Again, this goes against any sound fundamental economic theory.  We have totally removed ourselves from reality.

While the Fed and Central Banks will continue to prop up the markets by printing money and buying bonds and stocks, they can’t print barrels of oil or energy BTU’s.

There lies the Rub…

Lastly, if you haven’t checked out our new PRECIOUS METALS INVESTING section or our new LOWEST COST PRECIOUS METALS STORAGE page, I highly recommend you do.

Check back for new articles and updates at the SRSrocco Report.

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A Real Life “House of Cards” – The Most Shocking WikiLeaks Revelations From The “Podesta Files”

They say that “life imitates art”…or is it the other way around…the lines are getting so blurred.  In any event, we thought we would take this opportunity to highlight some of the most startling discoveries we found so far in Doug Stamper’s…sorry, John Podesta’s emails.  You have to admit there are some similarities there and they even have the same position…hopefully the Clinton Foundation is receiving royalties from HBO…

Podesta

 

Yesterday we pointed out the many amazing one-liners offered up by Hillary as she was out collecting millions of dollars for her “Wall Street speeches.”  Here is an expanded sample:

Hillary Clinton: “I’m Kind Of Far Removed” From The Struggles Of The Middle Class “Because The Life I’ve Lived And The Economic, You Know, Fortunes That My Husband And I Now Enjoy.” “And I am not taking a position on any policy, but I do think there is a growing sense of anxiety and even anger in the country over the feeling that the game is rigged.  And I never had that feeling when I was growing up.  Never. I mean, were there really rich people, of course there were.  My father loved to complain about big business and big government, but we had a solid middle class upbringing.  We had good public schools.  We had accessible health care.  We had our little, you know, one-family house that, you know, he saved up his money, didn’t believe in mortgages.  So I lived that.  And now, obviously, I’m kind of far removed because the life I’ve lived and the economic, you know, fortunes that my husband and I now enjoy, but I haven’t forgotten it.”  [Hillary Clinton Remarks at Goldman-Black Rock, 2/4/14]

 

Hillary Clinton Said There Was “A Bias Against People Who Have Led Successful And/Or Complicated Lives,” Citing The Need To Divese Of Assets, Positions, And Stocks.   “SECRETARY CLINTON:  Yeah.  Well, you know what Bob Rubin said about that.  He said, you know, when he came to Washington, he had a fortune.  And when he left Washington, he had a small —              MR. BLANKFEIN:  That’s how you have a small fortune, is you go to Washington. SECRETARY CLINTON:  You go to Washington.  Right.              But, you know, part of the problem with the political situation, too, is that there is such a bias against people who have led successful and/or complicated lives.  You know, the divestment of assets, the stripping of all kinds of positions, the sale of stocks.  It just becomes very onerous and unnecessary.” [Goldman Sachs Builders And Innovators Summit, 10/29/13]

 

Hillary Clinton Noted President Clinton Had Spoken At The Same Goldman Summit Last Year, And Blankfein Joked “He Increased Our Budget.” “SECRETARY CLINTON:  Well, first, thanks for having me here and giving me a chance to know a little bit more about the builders and the innovators who you’ve gathered.  Some of you might have been here last year, and my husband was, I guess, in this very same position.  And he came back and was just thrilled by— MR. BLANKFEIN:  He increased our budget.              SECRETARY CLINTON:  Did he? MR. BLANKFEIN:  Yes.  That’s why we —              SECRETARY CLINTON:  Good.  I think he—I think he encouraged you to grow it a little, too.  But it really was a tremendous experience for him, so I’ve been looking forward to it and hope we have a chance to talk about a lot of things.” [Goldman Sachs Builders And Innovators Summit, 10/29/13]

 

Clinton Said When She Got To State, Employees “Were Not Mostly Permitted To Have Handheld Devices.”  “You know, when Colin Powell showed up as Secretary of State in 2001, most State Department employees still didn’t even have computers on their desks. When I got there they were not mostly permitted to have handheld devices. I mean, so you’re thinking how do we operate in this new environment dominated by technology, globalizing forces? We have to change, and I can’t expect people to change if I don’t try to model it and lead it.”  [Clinton Speech For General Electric’s Global Leadership Meeting – Boca Raton, FL, 1/6/14]

 

Clinton Joked It’s “Risky” For Her To Speak To A Group Committed To Futures Markets  Given Her Past Whitewater Scandal.  “Now, it’s always a little bit risky for me to come speak to a group that is committed to the futures markets because — there’s a few knowing laughs — many years ago, I actually traded in the futures markets. I mean, this was so long ago, it was before computers were invented, I think. And I worked with a group of like-minded friends and associates who traded in pork bellies and cotton and other such things, and I did pretty well. I invested about a thousand dollars and traded up to about a hundred thousand. And then my daughter was born, and I just didn’t think I had enough time or mental space to figure out anything having to do with trading other than trading time with my daughter for time with the rest of my life. So I got out, and I thought that would be the end of it.” [Remarks to CME Group, 11/18/13]

 

Hillary Clinton Said Jordan Was Threatened Because “They Can’t Possibly Vet All Those Refugees So They Don’t Know If, You Know, Jihadists Are Coming In Along With Legitimate Refugees.”  “So I think you’re right to have gone to the places that you visited because there’s a discussion going on now across the region to try to see where there might be common ground to deal with the threat posed by extremism and particularly with Syria which has everyone quite worried, Jordan because it’s on their border and they have hundreds of thousands of refugees and they can’t possibly vet all those refugees so they don’t know if, you know, jihadists are coming in along with legitimate refugees. Turkey for the same reason.”  [Jewish United Fund Of Metropolitan Chicago Vanguard Luncheon, 10/28/13]

 

Hillary Clinton Said The Saudis Opposed The Muslim Brotherhood, “Which Is Kind Of Ironic Since The Saudis Have Exported More Extreme Ideology Than Any Other Place On Earth Over The Course Of The Last 30 Years.” “And they are getting a lot of help from the Saudis to the Emiratis—to go back to our original discussion—because the Saudis and the Emiratis see the Muslim Brotherhood as threatening to them, which is kind of ironic since the Saudis have exported more extreme ideology than any other place on earth over the course of the last 30 years.” [2014 Jewish United Fund Advance & Major Gifts Dinner, 10/28/13]

 

Hillary Clinton Said Her Dream Is A Hemispheric Common Market, With Open Trade And Open Markets.  “My dream is a hemispheric common market, with open trade and open borders, some time in the future with energy that is as green and sustainable as we can get it, powering growth and opportunity for every person in the hemisphere.” [05162013 Remarks to Banco Itau.doc, p. 28]

Meanwhile, there are plenty of other great email exchanges as well.

The following exchange comes from the President of the Soros-funded “Open Society Foundation“ (we previously wrote about the society’s plan to “Enlarge electorate by at least 10 million voters” here) who offers some advice on “police reform.”  The email points Podesta to an article previously written by the Open Society Foundation, ironically titled “Get the Politics Out of Policing.”  Surprisingly, Stone points out that the problem isn’t a lack of independence by police but by politicians:

The problem is not a lack of independence just from the police, but independence from city politics. Since 2007, Chicago has had an agency separate from the police to investigate officer-involved shootings, but the “independent” agency (the Independent Police Review Authority, or IPRA) is still under the mayor, and generally retreats from any investigation that might lead to criminal charges. Until we get investigations of cases like this out of the hands of politicians, even the best policies a police chief can impose won’t change the culture.

Well that seemed to backfire. To summarize, Stone says don’t do exactly what the FBI did in its investigation of Hillary’s email scandal. 

 

Police Reform

 

Here is a fairly racist email asserting that “Jews*, Hindus/Sikhs and Chinese people” are “almost always highly successful” while “Muslims, blacks and Roma” are “professional never-do-wells” and “fare badly almost irrespective of circumstances.”

Podesta

 

The following email from Clinton press secretary, Brian Fallon, points out more collusion with the press (“Today Show has indicated they definitely plan to ask about guns”) and Hillary’s support for an “executive order” to close the “gun show loophole” and “impose manufacturer liability.”

Gun Control

 

The following “Sanders Hits” email chain points out a specific request from Hillary to do a “deeper dive” on “hits that could either by written or deployed during the next debate on Sanders.”

Sanders Hits

 

But, Ron Klain, former “Ebola Czar”, quickly points out that they didn’t really have anything material on Sanders, saying “that seems like a weak hit.”  You don’t get elevated to a powerful position like “Ebola Czar” without being able to quickly cut through the BS.

Sanders Hits

 

Of course, Podesta attempted to raise doubts over the veracity of the Wilileaks emails saying that he doesn’t “have time to figure out which docs are real and which are faked” and that he’s not happy about “being hacked by the Russians in their quest to throw the election to Donald Trump.” 

 

While it’s a nice try, something tells us that Podesta would find the time to figure out which emails “are real and which are faked” if, in fact, any of them were fake.

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China Mocks “Chaotic” US Presidential Race: “It Exposes A Flawed Political System”

With the scandals surrounding both presidential candidates surpassing anyone’s wildest predictions, and the rest of the world just as stunned at ongoing developments in the US political system, one country has decided the time has come to take a direct stab at what it dubs America’s “arrogant democracy” and “flawed politics”- China.

In an op-ed published in the party’s mouthpiece, People’s Daily editor Zhong Sheng writes that “scandals have dogged the two main candidates throughout the 2016 election, which has further increased dissatisfaction among U.S. citizens”, adding that “U.S. citizens are becoming more and more frustrated by the political campaign.”

The tax-related questions for Trump, as well as worries over Clinton’s health and her use of a private email server, have all led to the current state of the election. In their first presidential debate, the two candidates focused more on personal attacks than policies. The Times commented in an editorial that the candidates have neglected the widening gap between the American dream and social reality.

While one can obviously point to inherent flaws with China’s own political system, where the prerogative to perpetuate the status quo comes at the cost of trillions in new debt created every year or else risk a working-class rebellion, the op-ed does highlight some very valid points, namely the soaring dissatisfaction with the failure of domestic politics to address the issues of the common man, which has been attributed as one of the primary catalysts behind the rise of Trump:

A recent survey showed that voters now perceive the government and congress as the biggest problems needing to be addressed in American society. These concerns come ahead of issues like the economy, employment and immigration. Of course, that doesn’t mean voters don’t care about economic and social issues, but it does show the great and growing concerns that U.S. citizens have about their political system.

The People’s Daily then also highlights another major problem with modern US politics, namely the impact of money on both the electoral and decision-making process,stating that “people are very clear about the sour fruits of money-oriented politics, and the new U.S. president is unlikely to end political confrontation or even do much to ease discontent toward the government. As British economist Martin Wolf said, growing inequality and slowing productivity have made democracy intolerant and capitalism illegitimate.

For a long time, the U.S. has boasted that its lively election is a sign of its system’s superiority. However, the essential purpose of the election is to provide a driving force for development. The most important task for presidential nominees is not to win the election, but to eventually govern the country.

The punchline is a bitter slam of the hypocrisy prevalent within the top echelons of US politics: “It’s time for the U.S. to take a close, honest look at its arrogant democracy and flawed politics.“

No matter if Trump wins or loses, one can only hope that this will eventually happen.

* * *

Full Op-Ed below:

U.S. presidential election chaos exposes flawed political system

 

As the presidential candidates of the Democratic and Republican parties begin the last sprint toward the general election, U.S. citizens are becoming more and more frustrated by the political campaign.

 

WikiLeaks recently promised “significant” disclosures on the U.S. election, war, arms and oil in the coming weeks. It is widely believed that these revelations will add more flames to the already chaotic political show.

 

Scandals have dogged the two main candidates throughout the 2016 election, which has further increased dissatisfaction among U.S. citizens. According to a recent Gallup poll, 60 percent of registered voters view Donald Trump as the least favorable candidates in 25 years, and Hillary Clinton as the second least favorable.

 

The tax-related questions for Trump, as well as worries over Clinton’s health and her use of a private email server, have all led to the current state of the election. In their first presidential debate, the two candidates focused more on personal attacks than policies. The Times commented in an editorial that the candidates have neglected the widening gap between the American dream and social  reality.

 

A recent survey showed that voters now perceive the government and congress as the biggest problems needing to be addressed in American society. These concerns come ahead of issues like the economy, employment and immigration. Of course, that doesn’t mean voters don’t care about economic and social issues, but it does show the great and growing concerns that U.S. citizens have about their political system.

 

Despite protests against money-oriented politics and election scandals, Trump still plans to drop another $140 million on campaign ads. Anticipated to cost as much as $5 billion, most of which comes from special interest groups, the 2016 election is likely to be the most expensive one in history.

 

People are very clear about the sour fruits of money-oriented politics, and the new U.S. president is unlikely to end political confrontation or even do much to ease discontent toward the government. As British economist Martin Wolf said, growing inequality and slowing productivity have made democracy intolerant and capitalism illegitimate.

 

For a long time, the U.S. has boasted that its lively election is a sign of its system’s superiority. However, the essential purpose of the election is to provide a driving force for development. The most important task for presidential nominees is not to win the election, but to eventually govern the country.

 

It’s time for the U.S. to take a close, honest look at its arrogant democracy and flawed politics.

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“Everything You Hear About Aleppo Is Wrong”

What's really going on in Aleppo? Are Assad and Putin exterminating the population for sport? Is it a war against US-backed "moderates"? That is what the mainstream media would have us believe.

Ron Paul Liberty Report's Daniel McAdams speaks with Vanessa Beeley, a journalist who just returned from Aleppo for the real story…

Confirming much of what Vanessa details, TheAntiMedia's Darius Shahtahmasebi explains what you aren't being told…

As hawkish as presidential frontrunner Hillary Clinton may be, the fact the Obama administration is pressing for direct war in Syria before she even has a chance to be elected raises serious questions about the urgency underpinning the U.S. establishment’s push to unseat Syrian president Bashar al-Assad from power.

Just this week, Russia deployed its S-300 surface-to-air missiles to Syria’s western coast in a move to preemptively counter any threat from U.S.-coalition airstrikes. The move came shortly after a number of reports surfaced in the corporate media claiming the Obama administration was mulling over attacking Syrian troops directly.

The U.S. coalition targeted Syrian troops as recently as September of this year in an attack which, according to Assad himself, lasted for over an hour. At least 80 soldiers were killed while another 100 or so were injured. An ISIS advance followed almost immediately.

No apologies or compensation were offered, and the U.S. barely seemed to flinch at the idea of 80 soldiers (who were battling ISIS militants) losing their lives as a result of their air strikes. The implication of this recent attack is that the U.S. will have no problem launching a similar offensive in the near future.

However, Russia has presented an issue for the sane members of the military-industrial complex because it has become increasingly clear the U.S. cannot intervene in Syria without dealing with Russia first. To date, the American government may have been playing a game of chicken with Russia to see what it might take for them to abandon the Syrian regime. However, if anything, Russia’s involvement in the Syrian conflict has only increased in recent years, and that doesn’t appear to be changing anytime soon.

In tandem with the deployment of the S-300 missiles, Russian General Igor Konashenkov made it clear in a statement that “any missile or airstrikes on the territory controlled by the Syrian government will create a clear threat to Russian servicemen” and could be shot down by the S-300 defense system.

Given that the U.S. coalition is the only air force that poses a threat to the Syrian regime (the various terror networks in Syria don’t have an air force – at least not officially), the statement is clearly intended as a warning to their American counterparts.

Russian Foreign Minister Sergei Lavrov, a mastermind of diplomacy, softened the tone of Konashenkov’s words by stating the missile systems were purely defensive and posed no threats to anyone. Most notable, however, was the fact Lavrov said this in a press conference with French Foreign Minister Jean-Marc Ayrault (France is a staunch advocate of removing Assad, meaning Lavrov was essentially meeting with one of his biggest opponents in Syria).

Russia’s threats, whether sugar-coated or not, are more than an attempt to talk tough on the international stage. The Russian government is evidently taking this potential war seriously; it began emergency response exercises on Tuesday that included the participation of both government officials and citizens, according to the Russian government (it’s worth noting the details of this exercise were arguably exaggerated by Western media).

The United States, on the other hand, continues to play a dangerous game in pushing this war further than it needs to. The United States-led coalition has no legal basis to be operating militarily in Syria, whether through their own domestic legislative institutions or through the United Nations. Russian assistance was requested formally by the Assad regime, which currently holds the seat at the U.N. This gives the Russian campaign an air of legitimacy whether or not it is immoral.

Yet the United States continues to give itself a special privilege (which only Israel can rival) by insisting the U.S. military has the right to defend itself against Russian anti-missile defense systems within Syrian territory. Yet, they argue, the Syrian regime does not have the right to defend itself against multiple ground and air invasions within their own country.

Though Western media continues to focus on Russia’s potential role in hacking U.S. elections and its faults in the Syrian conflict, the road to war our leaders are taking will affect us all severely — meaning we cannot afford to have the media cover it irresponsibly.

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

“Everything You Hear About Aleppo Is Wrong”

What's really going on in Aleppo? Are Assad and Putin exterminating the population for sport? Is it a war against US-backed "moderates"? That is what the mainstream media would have us believe.

Ron Paul Liberty Report's Daniel McAdams speaks with Vanessa Beeley, a journalist who just returned from Aleppo for the real story…

Confirming much of what Vanessa details, TheAntiMedia's Darius Shahtahmasebi explains what you aren't being told…

As hawkish as presidential frontrunner Hillary Clinton may be, the fact the Obama administration is pressing for direct war in Syria before she even has a chance to be elected raises serious questions about the urgency underpinning the U.S. establishment’s push to unseat Syrian president Bashar al-Assad from power.

Just this week, Russia deployed its S-300 surface-to-air missiles to Syria’s western coast in a move to preemptively counter any threat from U.S.-coalition airstrikes. The move came shortly after a number of reports surfaced in the corporate media claiming the Obama administration was mulling over attacking Syrian troops directly.

The U.S. coalition targeted Syrian troops as recently as September of this year in an attack which, according to Assad himself, lasted for over an hour. At least 80 soldiers were killed while another 100 or so were injured. An ISIS advance followed almost immediately.

No apologies or compensation were offered, and the U.S. barely seemed to flinch at the idea of 80 soldiers (who were battling ISIS militants) losing their lives as a result of their air strikes. The implication of this recent attack is that the U.S. will have no problem launching a similar offensive in the near future.

However, Russia has presented an issue for the sane members of the military-industrial complex because it has become increasingly clear the U.S. cannot intervene in Syria without dealing with Russia first. To date, the American government may have been playing a game of chicken with Russia to see what it might take for them to abandon the Syrian regime. However, if anything, Russia’s involvement in the Syrian conflict has only increased in recent years, and that doesn’t appear to be changing anytime soon.

In tandem with the deployment of the S-300 missiles, Russian General Igor Konashenkov made it clear in a statement that “any missile or airstrikes on the territory controlled by the Syrian government will create a clear threat to Russian servicemen” and could be shot down by the S-300 defense system.

Given that the U.S. coalition is the only air force that poses a threat to the Syrian regime (the various terror networks in Syria don’t have an air force – at least not officially), the statement is clearly intended as a warning to their American counterparts.

Russian Foreign Minister Sergei Lavrov, a mastermind of diplomacy, softened the tone of Konashenkov’s words by stating the missile systems were purely defensive and posed no threats to anyone. Most notable, however, was the fact Lavrov said this in a press conference with French Foreign Minister Jean-Marc Ayrault (France is a staunch advocate of removing Assad, meaning Lavrov was essentially meeting with one of his biggest opponents in Syria).

Russia’s threats, whether sugar-coated or not, are more than an attempt to talk tough on the international stage. The Russian government is evidently taking this potential war seriously; it began emergency response exercises on Tuesday that included the participation of both government officials and citizens, according to the Russian government (it’s worth noting the details of this exercise were arguably exaggerated by Western media).

The United States, on the other hand, continues to play a dangerous game in pushing this war further than it needs to. The United States-led coalition has no legal basis to be operating militarily in Syria, whether through their own domestic legislative institutions or through the United Nations. Russian assistance was requested formally by the Assad regime, which currently holds the seat at the U.N. This gives the Russian campaign an air of legitimacy whether or not it is immoral.

Yet the United States continues to give itself a special privilege (which only Israel can rival) by insisting the U.S. military has the right to defend itself against Russian anti-missile defense systems within Syrian territory. Yet, they argue, the Syrian regime does not have the right to defend itself against multiple ground and air invasions within their own country.

Though Western media continues to focus on Russia’s potential role in hacking U.S. elections and its faults in the Syrian conflict, the road to war our leaders are taking will affect us all severely — meaning we cannot afford to have the media cover it irresponsibly.

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

Trump Tells WSJ There Is “Zero Chance I’ll Quit”

In an interview with the WSJ, Donald Trump has said there’s “zero chance I’ll quit” adding that his campaign is not in Crisis and that ‘the support I’m getting is unbelievable.”

The statement follows calls from Republicans for him to exit the race as a result of the leaked audio revealing Trump making obscene sexual remarks in 2005.

Among those calling for Trump to step down from the GOP presidential ticket are Sens. Mike Crapo (R-Idaho), Mike Lee (R-Utah), Mark Kirk (R-Ill.) and Ben Sasse (R-Neb.).

Earlier, Reps. Jason Chaffetz (R-Utah), Martha Roby (R-Ala.) and Kelly Ayotte (R-NH) rescinded their endorsements of Trump, and conservative radio host Hugh Hewitt has called on him to leave the presidential race.

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

German Police Launch Massive Manhunt For Syrian Refugee Who Planned Airport Bomb Attack

A massive manhunt was underway in the German city of Chemnitz, the third largest city in Saxony, and the town was on lock down as local police seek a terror suspect. German police said two people were detained on Saturday as part of the manhunt for a Syrian-born man suspected of planning an airport bomb attack, adding that they had found explosives in an apartment they raided earlier.

The Saxony police earlier said they discovered “highly sensitive explosives” in the apartment of the suspected blast plotter, according to their official Twitter. This is third major German terror event since mid-July involving a refugee or asylum seeker.

The police advised residents within the locked down area to stay in their homes:

The police did not say if the two people detained included Jaber Albakr, 22, the man suspected of planning the attack. “Highly charged explosives were found in the apartment concerned in Chemnitz,” Saxony police said on Twitter, adding that they needed to evacuate more people from the residential area of the eastern city as a precaution.

 

Earlier on Saturday, a large scale security operation was launched after police received intelligence about a terror plot being planned in the city on Friday night, according to police.

Authorities released a photo of Jaber Albakr, the alleged suspect, wearing a hooded sweatshirt and said he was last seen wearing similar clothes.  

“We have to assume that the person is dangerous,” an official representative of the Saxony police, Tom Bernhardt, said in a statement on Saturday.

The spokesman said it is yet unclear whether the wanted man had come to Germany as a refugee. The suspect is believed to be connected to Islamic extremist groups, according to dpa news agency’s security sources. But police only confirmed he was “known”‘ to German intelligence.

Chemnitz’s central train station was temporarily closed for the manhunt. Two people were detained, and their luggage is being examined, police said.

As RT adds, the police operation in the Fritz Heckert district is currently being wrapped up. Earlier police reported “a static threat situation in the Fritz Heckert district” and deployed a large task force on the ground.

The police said the possible blast was averted, and that force was used to enter the suspicious apartment. “The explosion heard was an access measure by the police. A relevant person could not be found,” law enforcers tweeted amidst the operation.

The German state of Saxony has been the target for a number of explosions. Two improvised bombs went off in the city of Dresden less than two weeks ago that targeted a mosque and an international conference center. No one was injured, according to police, although the mosque was severely damaged.

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