Tuesday, November 29, 2016

Trump Picks Former Goldman Banker Steven Mnuchin As Treasury Secretary, CBS Reports

The NYT has reported, and CBS confirmed, that former Goldman banker and Soros Fund Management employee, Steven Mnuchin "a financier with deep roots on Wall Street and in Hollywood but no government experience" is expected to be named Donald J. Trump’s Treasury secretary as soon as Wednesday.

Trump Treasury Secretary Candidate Is Anti-Fed Libertarian Who Wants To Return To The Gold Standard

What makes Allison's candidacy especially notable is that he happens to be a prominent critic of the Federal Reserve, as well as an advocate of the gold standard. Allison has said his “long-term ambition” for monetary policy “would be to get rid of the Federal Reserve and get back to a private banking system.”

Martin Armstrong Exposes The Real Fake News: Did The BBC Get Caught Fabricating News To Start A War?

"This is a serious issue for the press is conspiring against the people to create war, sell climate change, and rig elections. This is by no means something new."

WTI Crude Shrugs Despite Biggest Cushing Inventory Build In 21 Months

With OPEC headlines driving every tick today (and machines seemingly going to sleep late on), we suspected tonight's API inventory data would be a non-event and the reaction was indeed muted as crude inventories drewdown 717k barrels (against expectations of a 577k build). The bigger deal was much more than expected builds at Cushing (biggest build since March 2015) and also notable builds in Gasoline and Distillates.

Obama Creates New Al-Qaeda Out Of Thin Air To Justify His Somalia War

An article published in The New York Times this past Sunday perfectly demonstrates how out of control and unconstitutional America’s foreign policy has become. It highlights the latest war being perpetrated by the Obama administration, which is expanding with very little scrutiny from the press or the government branch supposedly in charge of waging war, the U.S. Congress.

"Pause That Refreshes" Sparks Stock-Buying-Spree...But Ends Badly

German Intelligence Officer "Arrested In Islamist Plot" To Blow Up Spy Headquarters

In the latest scandal set to rock Germany, Spiegel reports that a German intelligence officer has been arrested over a suspected Islamist plot to bomb the agency's headquarters in Cologne, raising fears that the spy agency itself has been infiltrated. The 51-year-old official had made a "partial confession" to the plot, Spiegel reports.

CalPERS Weighs Pros/Cons Of Setting Reasonable Return Targets Vs. Maintaining Ponzi Scheme

"Groups representing municipal governments in California warn that some cities could be forced to make layoffs and major cuts in city services as well as face the risk of bankruptcy if they have to absorb the decline through higher contributions to CalPERS."

How Much Does The FBI Really Know About You?

The Federal Bureau of Investigations is facing a new lawsuit from EPIC (Electronic Privacy Information Center) regarding the agency’s latest biometric identification system.

Druckenmiller Joins Gundlach In Predicting 6% Yields; Expects Market Correction As Rates Rise

Stanley Druckenmiller spoke at the Robin Hood Investors Conference today where repeated he is bullish on the American economy following Trump's victory, anticipates a much stronger dollar and higher bond yields. Notably, he joined Gundlach in predicting 10Y yields would rise to 6% over the next year or two, a process which would lead to an equity market selloff.

Declaration Of War? Erdogan Says Turkish Forces Are In Syria To End Assad's Rule

Having stated in the past that the only reason Turkish forces are on Syrian soil is to combat Islamic State terrorists, today Turkish president Recep Tayyip Erdogan made a dramatic diplomatic reversal and said that the Turkish Army has entered Syria to end the rule of President Bashar Assad, whom he accused of terrorism and causing the deaths of thousands.

Tesla Made "Methodology Changes" After SEC Busted Musk For "Tailored Accounting"

Did the SEC just grow some teeth? For those who follow our quarterly reporting on the farce that is Tesla's earnings, the non-GAAP malarkey will be no surprise whatsoever - especially given the last quarter's "methodology changes." But it seems, as WSJ reports, that the company had come under fire from the SEC for using prohibited accounting metrics and sharing that information with investors.

Weak Links In The "Trump Rally"

This is the first time, within the last three years, the markets have pushed a 3-standard deviation move from the 50-day moving average. Such a move is not sustainable and a correction to resolve this extreme deviation will occur before a further advance can be mounted.

Chinese Bond Yields Jump Most In 10 Months On "Liquidity Fears"

Overnight the yield on China's sovereign 10Y bond jumped 6.5bps to 2.94% on what Bloomberg dubbed were "liquidity fears." This was the biggest one day spike for the benchmark bond since Jan. 25, according to ChinaBond data.

Green Party Rebels Against Jill Stein: "We Do Not Support The Recount"

"As a candidate, Dr. Stein has the right to call for a recount. However, we urge the GPUS to distance itself from any appearance of support for either Democrats or Republicans. We are well aware of the undemocratic actions taken during the primaries by the DNC and the Clinton campaign. Greens cannot be perceived to be allied with such a party."

ISIS Claims Responsibility For Ohio State Attack

OPEC Negotiations: Here Is The Latest

With the last day of OPEC pre-negotiations almost over, the latest from Vienna is that Iran and Iraq appear to have softened their positions ahead of a crucial OPEC meeting on Wednesday, however as the WSJ reports, "it may not be enough to satisfy Saudi Arabia’s demands for a broad-based oil-production cut." Here are the latest hurdles to reach a deal.

California's lower sphincter muscle ...Is filled with  feinstine...boxer...pelosi...waters...and of course brown...You have to admit...That's ALOT of Shit...

Could Pelosi Actually Lose Leadership Vote: "A Lot Of People Are Going To Be Surprised Tomorrow"

I think a lot of people are going to be surprised tomorrow...we need a change."

"Highly Skeptical" JPMorgan Slams Reuters' ECB "Sources" Story On Italy

"We find it impossible to imagine the current QE programme being use to intervene in Italy without prior approval from the Governing Council. Finally, even if the ECB were minded to intervene in Italy, bond yields would likely have to rise dramatically from current levels before it acted." - JPM

Trump Unleashes Renewed Tweet Storm Blasting "Pathetic" Media

Literally Too Many Veterans Have Signed Up To Join DAPL Protests

Last week, the newly formed group “Veterans Stand for Standing Rock” called on veterans to nonviolently stand up to militarized law enforcement at the site of the Dakota Access Pipeline protests. Since its initial call to action, the veterans’ movement has grown exponentially, from a couple hundred veterans to their maximum capacity of 2,000.

Populist-Nationalist Tide Rolls On: "America Is At A Plastic Time In History"

The forces of nationalism and populism have been unleashed all over the West and all over the world. There is no going back...

Obama's Legacy: Obamacare Failure, Drone Policy Failure, Guantanamo Failure, NSA Spying Failure

Likable or not, Obama’s legacy will be one of complete failure...

Trump, Pence To Meet Goldman COO Cohn (After Ex-Goldman Partner Mnuchin Visits Trump Tower)

Following former Goldman Sachs' partner Steve Mnuchin's visit to Trump Tower this morning (as the decision over Treasury Secretary looms), the Trump transition team just announced that Donald Trump and Mike Pence will meet with Goldman Sachs COO Gary Cohn (but provided no details on whatthey would discuss).

Trump Picks Elaine Chao As Transportation Secretary

In the first of what Mike Pence called "several very important announcements," Politico reports that former Labor Secretary Elaine Chao is set to be announced later Tuesday as President-elect Donald Trump’s choice to lead the Department of Transportation.

Pizzagate: Virginia, DC Areas Hubs for Missing Children

by Russ Winter, The New Nationalist:

Though the failing usual suspects list SGT Report as “fake news,” it often provides excellent research on various topics of importance. This morning, it offers an interview via Youtube (see below) with citizen researcher “Mark,” who has bird dogged some revealing data from the Center for Missing and Exploited Children. Apparently, the state of Virginia has by far the highest number of missing kids per capita in the nation at 0.00467. The second highest per capita is the much larger state of Florida at 0.00175. This means that a child in Virginia is about 2.67 times more likely to turn up missing than in second ranked Florida. Most of the states run about 0.0010, making Virginia an 4.67 to 1 outlier. The state of Maryland nearby to DC is also quite high on a relative basis at 0.00179.
Read More

The Fake News Witch Hunt: McCarthy’s Red Scare Redux

by Dave Kranzler, Investment Research Dynamics:
“Good night and good luck.” – Edward R. Murrow
The Washington Post – I should say, Jeff Bezos’ Washington Post – ran an article last week which featured a report from an organization called “PropOrNot” which claims it used “a combination of manual and automated analysis…in order to identify (“red flag”) [actual quote from the site, verbatim] the following as Russian propaganda outlets.”
Hmmm…”red flag” as in, “Red Scare?” In what is a bona fide rebirth of McCarthyism, PropOrNot claims to be “an independent team of concerned American citizens with a wide range of backgrounds and expertise” that is currently “volunteering time and skills to identify propaganda – particularly Russian propaganda…”
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Welcome to Hooverville

by Jeff Thomas, International Man:
In 1928, Republican Herbert Hoover was elected as president of the US. He took office in March of 1929. The following October, the stock market crashed, heralding in the Great Depression. Millions of Americans lost their jobs and homes and/or starved in the ensuing years.
Countless people, having nowhere to live, set up shantytowns that came to be known as “Hoovervilles.” Their new residents relied for the most part on public charities or begging for whatever income they could attain.
Why was Mister Hoover blamed? Well, whenever there’s disaster, it’s human nature to want to put a face on the cause of the problem. We tend to need to have someone at whom we can point our angry finger. (Almost immediately after the shooting of John Kennedy, the public were shown a photo of Lee Harvey Oswald holding a rifle; the day after the destroying of the Twin Towers, the television news showed a photo of Osama bin Laden. The viewers didn’t question whether these were indeed the culprits; they simply accepted them, as their need to have someone to blame was greater than their need to have truth.)
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Facebook Employees Are Quitting Because of Users Being Censored

by Jake Anderson, The Anti Media:
The war on “fake news” embarked upon by Facebook, Google, and Twitter may be earning the media goliaths brownie points with establishment politicos, but users — and even employees — aren’t feeling as enthusiastic.
In the midst of backlash over the stunning victory of President-elect Donald Trump, which some people attribute to the preponderance of apocryphal headlines disseminated by Internet search engines and social media platforms, the companies are tweaking their algorithms in order to target specifically blacklisted sites, many of which happen to be alternative media sites that question the political and media establishment. Many of the sites are also financially dependent on ad revenue earned by organic and referral traffic directed by Google, Facebook, and Twitter.
Read More

All Bets Are Off as it Now Appears India is Going for a Cashless Society

from Rogue Money:
When a government publicly declares they are imposing a new monetary or capital control on the people to ‘save or protect’ them and their money from being used for some form of criminal activity, then it is automatically time to get out of that currency immediately.
This is because the real agenda of a government is never about protecting the people, but instead about instituting laws and edicts to protect their own when their systems start to go awry.
A few weeks ago, Indian Prime Minister Narendra Modi declared overnight that the nation’s two largest denominations in their currency were no longer legal tender, and the people had a limited amount of time to exchange the bills they held for a new currency. And as expected the ‘reasons’ that Modi used to impose this ‘Executive Order’ were to halt the black market economy that has been prevalent in India for decades, if not centuries.
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Oil and U.S. Dollar Fall & Italy Referendum Could Send Markets Into Panic Mode!

from The Money GPS:

Prison or the Presidency? Hillary’s Going for Broke

by Dave Hodges, The Common Sense Show:
On November 9th, in the early morning hours, I reported that Donald Trump had made a deal with the devil and had agreed to not prosecute Hillary Clinton. When Trump clinched Pennsylvania, it was clear that Clinton could not win, as the story goes, Podesta, “the Pizza man”, reached out to Trump’s Senior Advisor, Kellyanne Conway, and offered to not contest the close results in exchange for a promise to not prosecute Clinton. While the offer was being mulled over by the Trump insiders, Podesta delivered what was thought to be a concession speech to the nation. Yet, Hillary was nowhere to be found and it was anything but a concession speech. In fact, Podesta said, no decision had been made.. and we could be counting votes for a very long time….” Shortly after that speech, Trump agreed to not prosecute and Clinton agreed to concede the next day. In fact, Trump told 60 minutes in a pre-recorded interview just over 48 hours later that “He did not not want to hurt the Clintons”, meaning that he was going to live up this bargain and not prosecute Hillary. Case closed, right? Donald Trump is President and his path to the White House is unopposed. Nothing could be further from the truth.
Read More

Tear Down This (Manipulative) Wall

by Andy Hoffman, Miles Franklin:

It’s Tuesday morning, and I can almost hear what’s going on inside the five-star hotel in Austria where the oil world’s dying “leadership” – which by tomorrow, may be permanently dead – have the U.S.-led “oil PPT” on the phone, trying to “manage” the fact that with Russia not attending tomorrow’s all-important meeting; at which, the odds of a viable, believable agreement are slim to none.  Which, I might add, is what I havepredicted from the day after September’s fraudulent “Algiers agreement” was promulgated – not because an actual agreement had occurred, but to buy time ahead of tomorrow’s meeting, to keep prices up for two more months.  Crude oil prices are in freefall, so it’s only a matter of time until a new “oil PPT” generated headline hits the tape; such as the same one that hit Thursday (just before talks collapsed Friday) and yesterday (just before Russia decided not to attend tomorrow’s meeting); i.e., the Iraqi oil minister’s hollow espousal of “optimism.”  Read More


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