Wednesday, September 28, 2016

Obama Humiliated: Senate Overrides President's Veto Of "Sept 11" Bill In Crushing 97-1 Vote...

Moments ago, the Senate voted overwhelmingly to override President Obama’s veto of a bill letting the victims of the 9/11 attacks sue Saudi Arabia, striking a blow to the president on foreign policy weeks before he leaves office. The vote marks the first time the Senate has mustered enough votes to overrule Obama’s veto pen.

White House Enraged At "Most Embarrassing Vote Ever" Senate Veto Override

It appears for once, the word (of some politicians) is mightier than the pen (of Obama). The White House has lashed out at The Senate's veto override, which Josh Earnest described as "the single most embarrassing thing that the United States Senate has done." As The Hill reports, in the most overwhelming vote (97-1) since 1983, President Obama's lame-duckedness was exposed and that enraged Obama (and his Saudi friends' money).

Deutsche Denial Tsunami Begins: Draghi "Not ECB Fault", IMF "Solid Base"

It is becoming very clear that the Deutsche Bank debacle is getting very serious. How do we know? Simple - everyone is denying everything. Overnight DB CEO Cryan denied any need to raise capital or need a bailout; this morning ECB's Draghi denied low rates were responsible, and denied The IMF's statement the bank is systemically important; and now IMF's Lagarde is denying any need for government intervention.

The Banquet Of Consequences Is Being Served (By The Central Banking Cartel)

Last week, the Federal Reserve decided to keep US interest rates unchanged, marking its 96th month of life at the zero bound. Apparently, for all of its "data dependence", the Fed feels the economy could still benefit from *just* a little more of its ZIRP happy juice. But as anyone with a little common sense will tell you, More is not always better. It's quite possible to have too much of a good thing. And in its pursuit to kick the can for a little longer, the Fed has crossed a dangerous line.

U.S. Corporations Side With Saudi Arabia Against the American People Over 9/11 Victims Bill

by Michael Krieger, Liberty Blitzkrieg:
Shortly after the release of the infamous 28-pages earlier today, the White House issued a statement dismissing allegations of Saudi involvement in the attacks of 9/11. I believe such assurances are intended to prevent people from reading it in the first place, because if you actually read them, your mouth will be wide open the entire time in disbelief.
There are only two conclusions any thinking person can come to after reading the 28-pages.
1. Elements within the Saudi government ran the operations behind the 9/11 attack.
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Only Days Until World Money Changes Forever

by Jim Rickards, DailyReckoning:
The International Monetary Fund (IMF) has established a plan for its special drawing rights (SDR) valuation basket to be revised at midnight on September 30. This IMF plan has laid the foundations for a new monetary standard based on world money.
While these SDR plans might seem complex, they’re actually not complicated. People will make it complicated or make it sound confusing but the Federal Reserve has a printing press, they can print dollars. The IMF also has a printing press and can print SDRs. It’s just world money that could be handed out and could be used to cause inflation.
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The Free Market Always Prevails

by Michael Pento, Market Oracle:
The global securities market got a surprise recently when U.S. core consumer price inflation crept up to 2.3% year over year in the month of August. This closely followed core measure, which strips out the more volatile food and energy costs, increased 0.3%; this was the biggest rise in core CPI since February.
According to the government, while the costs associated with food and energy decreased, price increases came primarily from medical care commodities and medical care services. According to the Bureau of Labor Statistics (BLS), the prices for medicine, doctor appointments, and health insurance rose the most since 1984.
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by James Holbrooks, Underground Reporter:
Washington, D.C. — On Thursday, the House Oversight and Government Reform Committee voted to hold a former IT staffer for Hillary Clinton in contempt of Congress for failing to appear.
Reports ABC News Radio:
“For the second time in two weeks, Bryan Pagliano, former senior advisor for information resource management at the State Department, failed to show up to a hearing to testify on the preservation of State Department records.
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from InfoWars:
Michael Moore appeared frustrated on Twitter following the presidential debate, saying Trump “won,” and “we all lost.”
The 62-year-old film maker warned “pro-Hillary gloaters” against celebrating over how Hillary Clinton did in the debate against the Republican presidential nominee and insisted nothing she did changed things.
“Pro-Hillary gloaters doing end-zone dance again when still on 50-yd line,” Moore tweeted. “You must get it in your head Trump is gonna win and act accordingly!”
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Julian Robertson: "Janet Yellen Has Created A Serious Bubble And Pain Is Coming"

"Janet Yellen is just unwilling to see the American public take any pain at all and because of that I think she’s creating a serious bubble where serious pain is coming."

Treasury Sells 7Y Paper In Another Mediocre, Tailing Auction; Bond Market Yawns

When the results for the sale of $28bn in 7 paper printed, the result was a modest tail, with a high yield of 1.389% tailing the 1.385% When Issued. As a reminder, last month's 7Y auction had an even bigger tail but that was due to concerns of a potential rate hike by the Fed in September; this time there was no such concern.

"Russian Roulette" - Credit Suisse CEO Admits "EU Banks Not Really Investable"

European banks are in a “very fragile situation” and are “not really investable as a sector" according to Credit Suisse chief executive Tidjane Thiam. Speaking at a conference in London this morning, The FT reports, the CEO of Europe's 'other Deutsche Bank' said "only a fool would try to make a five-year prediction in a world that is so random," wishing John Cryan (DB CEO) well, "I hope that they come out of their current predicament."

Citi Has One Unpleasant Chart For Anyone Thinking Of Buying Twitter

Here is Citi's most stark condemnation of not only why a Twitter purchase does not make sense but why most major media M&A in the internet space always fails.

All This Market Calm Feels Like Mayhem

"The market’s in a dangerous bubble, now let’s talk about the following stocks you just have to chase because they’re cheap."

Turkey Contemplates Buying Deutsche Bank

Yigit Bulut, chief adviser to Turkish President Recep Erdogan, Turkey should consider "using a new wealth fund or a group of state-owned banks to buy" the embattled Deutsche Bank. Bulut made the proposal on Tuesday via his Twitter account, saying Germany’s largest lender should be made into a Turkish bank.

Bridgewater Calculates How Much Time Central Banks Have Left

Ray Dalio's Bridgewater has provided the answer to how much time is left until both the ECB and BOJ hit the limits on their existing programs.

Can Donald Trump Really Save U.S. Coal?

On September 22, Donald Trump reaffirmed his intent to revive the American coal industry - without many details on how to do it. What influences the price and demand for coal? Can Donald Trump influence the forces behind these market drivers?

Saudi Devaluation Bets Surge, Stocks Crash As Debt Deal Falters On 9/11 Legislation Anxiety

Despite its peg, Spot Riyal is trading at its weakest in 8 months as turmoil mounts in The Kingdom as a failed 'deal' in Algiers, pay cuts for royalty, and now growing concerns that the US vote/veto on 9/11 Legislation will delay Saudi Arabia's first international bond sale. Forward bets on Saudi currency devaluation are surging and default risk is on the rise again as Bloomberg reports, a Senate vote to override President Barack Obama’s veto could cause some investors to balk at the issue.

Oil Oscillates As Production Drops; RBOB Plunges After Biggest Gasoline Build In 4 Months

Following the surprising across-the-board inventory draws report by API overnight, DOE confirmed crude's overall draw (-1.88mm bartrels vs +3mm exp). However, gasoline saw the biggest build in 4 months (as distillates saw the biggest draw in almost 2 months). Crude production dropped very modestly on the week but remains stuck around 8.5mm barrels. Oil prices popped then dropped and remain lower for now...

Live Feed: FBI Director Comey Takes Stand Again To Answer For "Handing Out Immunity Agreements Like Candy"

As the credibility of the FBI continues to dwindle away over it's handling of the Hillary email investigation, FBI Director James Comey is back on the Hill today to explain why he was "handing out immunity agreements like candy."

Are "Invisible Americans" The Key Players In This Election?

Memo to the D.C. Beltway/mainstream media apologists and propagandists: the 25 million Invisible Americans are no longer buying your shuck-and-jive con job.

"There's A Real Problem Here" - Did Fed's Plosser Just Admit Trump Is Right About Yellen?

Central bankers "wring their hands all the time," Plosser noted that The Fed was very "concerned about credibility," and was "pretty good at conjuring up reasons not to act." His mutinous discussion then concluded, sounding very Trumpian, by noting that The Fed "shouldn't be afraid a recession might come," exclaiming "there's a real problem here" with The Fed.

California Police Shoot Unarmed Black Man Behaving "Erratically" In Southern California

Crowds gathered after an unarmed black man who was "behaving erratically" died after being shot by a police officer in El Cajon in southern California on Tuesday, the local police department said, appealing for calm.

Forget Agenda 21: UN’s 2030 Agenda Will “Transform The World”

by Daisy Luther, Activist Post:
If you think Agenda 21 was bad, you ain’t seen nothing yet. Wait until you learn what the creepily utopian 2030 Agenda has in store for us all.
Once again Germany has stepped forward with their ideas of how to speed up the arrival of a one-world government.
While all eyes were on Obama and his creepily NWO speech, the German Foreign Minister Frank-Walter Steinmeier gave an address which went largely un-noticed. It was a lengthy speech – you can read his entire address here – but these are some takeaway points:
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Joe Biden is Washington Troublemaker-in-Chief

by F. William Engdahl, New Eastern Outlook:
Barack Obama may be the nominal Commander-in-chief of the United States’ Armed Forces. However, it’s becoming clear that Vice President Joe Biden is far more than your ordinary passive Vice President. Indeed, a close look at his agenda internationally in recent months gives the clear impression that ‘ol Smilin’ Joe is in fact Washington Troublemaker-in-Chief.
I’ve mentioned in an earlier piece, in passing, that Biden seems to play a role similar to that of Vice President Dick Cheney in the George W. Bush White House–running the show in key global policy decisions under a passive and largely clueless President. Or the role that G.H.W. Bush, former CIA Director played during the eight years of the Reagan Presidency. The latest example is Biden’s nasty meddling into the highly-sensitive geopolitics of the South China Sea and East China Sea disputes with China.
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by Jeff Berwick, The Dollar Vigilante:
We watched (and live tweeted @dollarvigilante) the US Presidential debates last night… mostly because we were hoping Hillary would drop dead on live TV.
Unfortunately, that didn’t happen.
What did happen was that the two choices for the lesser evil this year, came down to: slightly more fascist (Trump) versus slightly more communist (Clinton).
But, the key takeaway is that neither candidate wants to change the system in any dramatic way.
While they spoke about “creating jobs,” no one pointed out that the government actually can’t create jobs… it can only steal from some people and give to others (although Trump wins here with his idea of lowering corporate taxes).
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The New Banking Crisis — In Two Frightening Graphs

by Pam Martens and Russ Martens, Wall St On Parade:
After repeated, but ignored, warnings over the past two years from researchers at the U.S. Treasury’s Office of Financial Research (OFR), the new banking crisis has arrived with a vengeance and at a most inopportune time – when confidence is already draining from the financial system because of two U.S. presidential candidates with the highest disapproval ratings in modern history.
Yesterday, Germany’s largest financial institution, Deutsche Bank, lost 7.06 percent by the close of trading on the New York Stock Exchange. That plunge in one of the most globally-interconnected banks dragged down the shares of every major Wall Street bank yesterday: Bank of America lost 2.77 percent; Morgan Stanley declined by 2.76 percent; Citigroup lost 2.67 percent; Goldman Sachs shed 2.21 percent; and JPMorgan Chase closed down 2.19 percent. Deutsche Bank, whose shares traded at more than $120 pre-crisis in 2007, closed at $11.85 yesterday in New York and was down another 3 percent in overnight trading in Europe.
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