Wednesday, December 7, 2016

Breitbart Editor Censors Own Reporting on “Pizzagate” After Receiving a Number of Phone Calls from D.C. Telling Him to “Stop It”

from Breitbart:
Who called off Milo’s report?
(INTELLIHUB) — Breitbart editor Milo Yiannopoulos may have self-censored himself for reporting on his “Pizzagate” conspiracy findings after receiving phone calls from people in D.C..
“Sadly when I announced that I was going to be speaking about Pizzagate this evening, um, I got a number of phone calls with Washington area codes saying not yet — stop it,” Milo told viewers.
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Denzel Washington Slams Mainstream Media For Peddling "Bullshit"

 “If you don’t read the newspaper, you’re uninformed. If you do read it, you’re misinformed,” Denzel Washington said quoting Mark Twain and added: "In our society, now it's just first — who cares, get it out there. We don't care who we destroy. We don't care if it's true. Just say it, sell it. Anything you practice you'll get good at — including bullshit.

David Rosenberg Throws Up On The "Trump Rally" - Here's Why

"It is not a stellar market at all. Just a stellar performance by a couple of sectors... we have the mother of all overvalued markets."

Lindsey Graham Launches 2 Russian 'Hacking' Probes, Demands Trump "Toughen Tone"

Having dropped out of the primary race almost exactly a year ago, prominent foreign policy hawk, Republic Senator Lindsey Graham told CNN during an interview today that he plans to launch two separate probes into Russia's "hacking" and demand that President-elect Trump "take a much tougher tone towards Russia... or they will break up our alliances."

France: Decomposing In Front Of Our Eyes

France will elect a new president in May 2017. Politicians are already campaigning and debating about deficits, welfare recipients, GDP growth, and so on, but they look like puppets disconnected from the real country. What is reality in France today? Violence. It is spreading. Not just terrorist attacks; pure gang violence. A climate of civil war, however, is spreading visibly in the police, schools, hospitals and politics.

This Is the Purge We All Knew Was Coming: "Shutting Down Extremist Content"

This is the state of free speech in 2016. It can be eradicated at a moment’s notice, and perhaps for reasons you aren’t even aware of.

What's Behind The Relentless Market Surge? RBC Explains

"We continue to see obvious re-risking in the form of “buy everything” price-action, as investors push further out onto the risk curve against a shift away from the 5+ year narrative of “secular stagnation” towards positioning that allows capture of “reflation animal spirits.”

What Happens Next?

'Investors' are buying both bonds (yields below post-Italy vote lows) and stocks (new record highs) ahead of tomorrow's ECB meeting...

US F/A-18 Fighter Jet Crashes In Southwestern Japan

A US F/A-18 Hornet military jet stationed at the Iwakuni base in the Yamaguchi prefecture, crashed in Japan, NHK reported citing the country’s Defense Ministry. The plane crashed around 6:40pm local time in the Kochi Prefecture, the report said, adding that the pilot survived.

Trump Picks Iowa Governor Branstad As US Ambassador To China, Beijing Calls Him "Old Friend"

Trump has picked Iowa Governor Terry Branstad as the next U.S. ambassador to China, choosing a longstanding friend of Beijing after rattling the world's second-largest economy by speaking to Taiwan's president. Earlier in Beijing, Foreign Ministry spokesman Lu Kang called Branstad an "old friend" of China when asked about a report on the appointment.

Indian Economy Crashes As Modi's "Black Money" Theory Collapses

Amid social unrest and loss of faith in the nation's currency, India's economy has ground to a halt with its Composite PMI crashing by a record in the last month as demonetization strikes. However, even more problematic is that Indians have validated 82% of bank notes rendered worthless by PM Modi, dramatically undermining the government’s estimate of unaccounted wealth in the economy.

Clinton Throws Thank You Party For Millionaire Donors As Trump Resumes "Thank You" Tour

As Donald Trump returns to his grassroots "thank You" tour to salute supporters in the battleground states, Hillary Clinton and Tim Kaine are throwing a party at the Plaza hotel to thank those who donated millions to the campaign.

Chinese Reserves Tumble By $69 Billion, Biggest Drop Since January

Overnigt China disclosed that, as expected, FX reserve liquidation has spiked with reserves falling by nearly $70 billion last month as the country’s central bank burned through more of its reserves in the fight to defend the renminbi from greater depreciation on the back of accelerating capital outflows. This was the largest decline since January.

Crude Tumbles Below $50 After Biggest Cushing Build Since Jan 2009

Crude prices are lower this morning following API's huge reported build at Cushing (biggest since 2008) and fears over OPEC deal realities. With expectations for a crude draw (on lower imports), DOE confirmed a bigger than expected overall draw but also Cushing saw a 3.78mm barrel build - the biggest since Jan 2009. Both Distillates and Gasoline (most since Jan) also saw bigger than expected builds as US production dropped very modestly.

Job Market Rolling Over: Rate Of Hiring Declines At Fastest Pace Since 2013

The most troubling figure in today's JOLTs report was the annual rate of change in hiring, which as shown in the chart below, dropped 2.2% compared to the 5.212 million a year ago. This was the biggest contraction in hiring since March 2013.

Saxo Bank's 10 Outrageous Predictions For 2017: Brexit Never Happens, Bitcoin Surges, Fed Folds

"After a year in which reality has managed to surpass even seemingly unlikely calls, 2017 may be a wakeup call which sees a real departure from the 'business as usual'..." Will this be the year when China exceeds growth expectations, Brexit turns into Bremain, the Mexican peso soars and Italian banks turn out to the best performing equity asset class?

Our "Gaslight" Economy

If you don't like what these charts are saying, please notify The Washington Post to add the St. Louis Federal Reserve to its list of Russian propaganda sites.

Trump Interviewed: I Sold All Stocks In June Because "I Felt That I Was Very Much Going To Be Winning"

"Because I felt like I was very much going to be winning.  I don't think it's appropriate for me to be owning stocks when I'm making deals for this country that maybe will effect one company positively and another negatively.  I just felt there was a conflict."

Italy PM Renzi To Resign Today After Approval Of Budget Bill

In what appears to be an unexpected development, following yesterday's news that Renzi would hold off resigning for the immediate future, moments ago the Italian prime minister tweeted that he would formally resign at 7pm local time, well ahead of expectations, following passage of the budget bill.

Gold & Silver Spike, Erase Italy Vote Losses

After puking over $30 from post-Italy vote highs, gold prices are jumping this morning and have erased the losses. Silver is soaring, breaking back above $17, well above pre-Italy levels...

OPEC Cheating Will Cap Oil At $52

OPEC succeeded in pulling off what many thought was impossible, overcoming mutual disdain and mistrust to reach a deal on reducing its oil output. Oil prices skyrocketed on the news, up more than 12% since the agreement was announced last week. But what if there is much less to the deal than meets the eye? What if OPEC does not actually follow through on the promised production cuts?

OPEC Cheating Will Cap Oil At $52

OPEC succeeded in pulling off what many thought was impossible, overcoming mutual disdain and mistrust to reach a deal on reducing its oil output. Oil prices skyrocketed on the news, up more than 12% since the agreement was announced last week. But what if there is much less to the deal than meets the eye? What if OPEC does not actually follow through on the promised production cuts?

Hyperinflation & Complete Demise of the US Dollar Coming — John Williams

from Greg Hunter:

Economist John Williams has a dire warning amidst all the record highs in the markets. Williams predicts, “Unless the long term solvency of the U.S. Treasury bonds can be addressed, there’s no hope of avoiding a hyper-inflation and the complete demise of the dollar.”

December 4, 2016 Experts Warn Of ‘Global Unrest On A Scale We’ve Never Seen’ And An ‘Unprecedented Epidemic Of Food Riots’ As The World Goes Beyond The Tipping Point

by Stefan Stanford, All News Pipeline:
The November 28th story from the Daily Star tells us that according to a report published by the Center for Naval Analyses (CNA), our country is quietly preparing for food prices here to possibly spike by as much as 400% in the next 8 years. Warning us of a global crisis brought on by “food price and supply swings amidst burgeoning population growth, rapid urbanization, severe weather events, and social unrest“, one expert stressed we could soon see an “unprecedented epidemic of food riots.”
Also reporting that the world’s population of more than 7 billion could be doomed as riots are sparked in city streets over what could soon be considered a luxury item – something to eat, they also warn many believe the US government has long been preparing for what actions it might take in the face of global famine. In a worse case scenario?
“The global food supply system could face catastrophic losses, and an unprecedented epidemic of food riots.”
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War On The Homeless: Cities All Over America Are Passing Laws Making It Illegal To Feed And Shelter Those In Need

by Michael Snyder, The Economic Collapse Blog:
If you want to be a “Good Samaritan” to the homeless in your community, you might want to check and see if it is legal first. All over the country, cities are passing laws that make it illegal to feed and shelter the homeless. For example, in this article you will read about a church in Maryland that was just fined $12,000 for simply allowing homeless people to sleep outside the church at night. This backlash against homeless people comes at a time when homelessness in America is absolutely exploding. In a previous article, I shared with my readers the fact that the number of homeless people in New York City has just set a brand new all-time high, and the homelessness crisis in California has become so severe that the L.A. City Council has formally asked Governor Jerry Brown to declare a state of emergency. Sadly, instead of opening up our hearts to the rapidly growing number of Americans without a home, way too many communities are trying to use the law to force them to go somewhere else.
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Mass Migration and Bank Weakness Threaten The Italian Economy

by Jeff Berwick, The Dollar Vigilante:
In the wake of the Italian referendum results and Matteo Renzi’s subsequent resignation, the level of uncertainty in Italy continues to grow both inside the country and among foreign investors.
As many expected, Banco Monte dei Paschi’s shares fell sharply on the news of Renzi’s defeat. And markets reacted in risk off fashion much like they did post-Brexit, with European stocks, US futures and the Euro all rising in response to the news. And it’s likely to stay that way until some sense of calm returns to the market.
The destabilization of the Italian economy is occurring on several fronts however. Part of this premeditated effort is being helped along by the likes of a few NGOs who have been making a concerted effort to smuggle immigrants into Europe.
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Trump Must Fire Janet Yellen — First Thing!

by David Stockman, DailyReckoning:
The Keynesian statists at the Fed think the devastating financial busts we’ve suffered since 1987 were due to a mix of too much investor exuberance, too much deregulation, a one-time housing mania and a smattering of Wall Street greed and corruption, too.
And that’s not to overlook some of the more far-fetched reasons for the two big financial meltdowns of this century. Foremost among these is the Greenspan-Bernanke fairy tale that Chinese workers making under $1 per hour were saving too much money, thereby causing low global mortgage rates and a runaway housing boom in America!
Needless to say, not only are these rationalizations completely bogus; but so is the entire underlying rationale for Keynesian monetary central planning.
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Is Wall Street Trying to Rig Trump’s Business Advisory Panel?

by Pam Martens and Russ Martens, Wall St On Parade:
On December 2 President-elect Donald Trump’s transition team sent out a press release advising that he had formed a business advisory panel “which is composed of some of America’s most highly respected and successful business leaders, will be called upon to meet with the President frequently to share their specific experience and knowledge as the President implements his plan to bring back jobs and Make America Great Again.”
In fact, according to the Chair of the panel, Stephen A. Schwarzman, Chairman and CEO of Blackstone, a private equity/hedge fund/investment bank headquartered in New York City, it was Schwarzman who actually selected the members of the panel and Trump went with the full group he had selected. (See Schwarzman’s Bloomberg TV interview here.)
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