House Kills Fast-Track Of Obamatrade After Pelosi-Led Democrat Rebellion

Submitted by Tyler Durden on 06/12/2015 - 13:50
And just like that, President Obama's fast track of his "great job creation" bill is defeated in a 126-302 procedural vote which stumbled over what is known as the Trade Adjustment Assistance. Following Pelosi's comments that "its defeat is the only way we will be able to slow down fast track," and "people would rather have a job than assistance", the defeat of a measure to provide aid to workers displaced by trade deals means the fast-tracking of the TPP is done (for now).

• *HOUSE HAS ENOUGH VOTES TO DEFEAT TRADE BILL

And with a whopping 302 votes again, House democrats just stunned the democrat president by ending the "fast-track" of the TPP and forcing it back to the drawing room table.
 

Is Deutsche Bank The Next Lehman?

Submitted by Tyler Durden on 06/12/2015 - 12:15 Looking back at the Lehman Brothers collapse of 2008, it’s amazing how quickly it all happened. In hindsight there were a few early-warning signs, but the true scale of the disaster publicly unfolded only in the final moments before it became apparent that Lehman was doomed. Could this happen to Deutsche Bank?

How Companies Mask Runaway Inflation

Submitted by Tyler Durden on 06/12/2015 - 14:30 Do you feel like you’re running out of pepper more often these days? Have you noticed that Slim Jims have gotten shorter? Rest assured it is not your imagination, it is simply a symptom of corporate America attempting to hide runaway inflation by employing "slack fill."

The Police State Is Sucking Wind

from Truth Never Told

Massive Shortage Of US Treasury Paper As 10 Year Plunges To -2.20% In Repo

Submitted by Tyler Durden on 06/12/2015 - 10:54

Gowdy to Obama: No Hillary Clinton Benghazi documents, then no 2016 funding

from Examiner:
The Obama White House on Wednesday slammed GOP lawmakers in the House of Representatives for their threats on Tuesday to delay funding for the scandal-ridden State Department. The lawmakers said they would take the action as a way to force the Secretary of State John Kerry’s cooperation with their Benghazi select committee’s investigation into the Sept. 11, 2012 Islamist attacks in Libya, according to several reports.
The congressmen by adding their directive into the House Appropriations Committee’s state and foreign operations funding bill for the next fiscal that states they will cut funding by 15 percent of Diplomatic and Consular Programs “pending certain [Freedom of Information Act] related and record-keeping actions is counter-productive as it would affect funding for this activity and also could adversely affect global diplomatic operations unrelated to the intent of the provision,” Office of Management and Budget (OMB) Shaun Donovan said in a letter to the leaders of the panel.
Read More @ Examiner.com

The Warren Buffet Economy, Part 3: Why Its Days Are Numbered

Submitted by Tyler Durden on 06/12/2015 - 13:18 During the last 27 years the financial system has ballooned dramatically while the US economy has slowed to a crawl - a divergent trend that has intensified with the passage of time. While the rationale for monetary central planning is bogus, the model on which state intervention is based is even more invalid.

Senate Bill: ‘Must Retrofit’ Handgun with Smart Gun Tech Before Sale

by Eric Scheiner, CNS News:
Democratic Senators Ed Markey (D-Mass.) and Elizabeth Warren (D-Mass.) have put forth a bill that could drastically impact gun sales in America.
Last week Markey and Warren introduced The “Handgun Trigger Safety Act”. It would mandate that in 10 years “anyone selling a handgun must retrofit it with personalization technology before that sale can be completed.”
It would also ban the “manufacture in the United States a handgun that is not a personalized handgun” within 5 years of the measure being enacted.
Smart gun technology allows a handgun to only be operated by an authorized user. It generally works through finger or palm print recognition, electronic password or coded lock, or a gun that needs to be in proximity to a specific watch or bracelet in order to operate.
Read More @ CNS News.com:

Greece Refuses To Blink; EU Says Noncompliance "Not An Option"

Submitted by Tyler Durden on 06/12/2015 - 07:54 On the heels of what appeared to be an ultimatum from EU creditors, Greece remains defiant on pension cuts and a VAT hike, testing the troika's resolve as the countdown to the next maybe-deadline continues. Meanwhile, Germany warns that Grexit could embolden EU "separatist" movements and Dijsselbloem reminds Tsipras that noncompliance isn't an option.

How The Report That Europe Is Formally Discussing A Greek Default Shook Markets

Submitted by Tyler Durden on 06/12/2015 - 09:25 "Senior EU officials have formally discussed for the first time a possible Greek debt default as negotiations between Athens and its creditors have stalled ahead of an end-month repayment deadline," Reuters reports. Or, translated from political correctness into the truth: "EU officials have stopped pretending that no one has discussed a Greek default."

Macedonia Central Bank Blocks Greek Bank Withdrawals "In Case Of Grexit"

Submitted by Tyler Durden on 06/12/2015 - 08:54 The bank runs (and capital controls) begin. Macedonia Central Bank Governor Bogov states:
*GREEK BANKS IN MACEDONIA CAN’T WITHDRAW CASH, MACEDONIAN BANKS PROTECTED IN CASE OF GREXIT: BOGOV
How long before the rest of Europe follows suit and a bank holiday is declared Monday to "Cyprus" depositors?

Even The Algos Aren't Convinced By The Latest Greek Deal Rumors

Submitted by Tyler Durden on 06/12/2015 - 11:28 You know it's bad when on an illiquid Friday, a Greek Deal Rumor headline only manages a measly 5pt ramp in the S&P 500... Wolf cried just one too many times? Wednesday saw 25 point vertical ramp on the same headline...

USD Index Flash Crash Sparks EUR Surge

Submitted by Tyler Durden on 06/12/2015 - 11:17 Another day, another flash crash in the USD Index. As the Sept 2015 USD Index Futures contract suddenly crashed instantly, so EURUSD surged (and TSY yields tumbled)... something broke...

Grexit Contagion Uncontained - European Peripheral Bond Risk Is Soaring

Submitted by Tyler Durden on 06/12/2015 - 10:36 While talking heads have proclaimed any Grexit contagion will be contained... it appears they are wrong (surprise!). The last 2 days have seen sovereign bond spreads soar 25-35bps for Spain, Portugal and Italy. On the yield side, Spain 10Y spread to Bunds is at its highest since August 2014 and Portugal at its highest since Feb 2015.

Greek Stocks, Bank Bonds Battered As Deal Hope Fades

Submitted by Tyler Durden on 06/12/2015 - 08:27 Headline hockey remains all that matters if one is "trading" European stocks, bonds, or FX. Today, so far,  no deal... and so Athens Stock Exchange and Greek bank bonds are plunging (for now)...

UMich Sentiment Shows Wage Growth Delusion Has Never Been Bigger (Or Fed So Far Behind The Curve)

Submitted by Tyler Durden on 06/12/2015 - 10:14 Preliminary June UMich consumer sentiment data rose from 90.7 to 94.6 as respondents appear very excited about soaring gas prices and far more excited abiout stocks than every other confidence survey recently. Current conditions soared from 100.8 to 106.8 as expectations only rose from 84.2 to 86.8. Where does the hope come from? Simple... income expectations are the highest since 2008 and the most divergent from reality ever.

Energy Stocks Give Up Week's Gains As WTI Drops Below $60

Submitted by Tyler Durden on 06/12/2015 - 09:43 As the reality of moar record production in a slowing demand world filter through the narrartive of a dropping inventory being dragged away into tanker storage arb, so WTI has dropped back below $60 and Energy stocks have tumbled - giving up all the week's gains. Just when the mainstream media was reconvinced that oil is fixed...

Beef Prices Hit Record: Up 30% In Past Two Years

Submitted by Tyler Durden on 06/12/2015 - 09:12 According to the BLS, after a torrid 2014, in which there was a 24% surge in beef prices which central planners blamed on everything except their policies, in May the Beef and Veal price index just rose to a new all time high of 260.8, up 12.3% from a year ago, and up 30% in the past two years.

The Fed Is Funneling The Investing Herd Off A Cliff

Submitted by Tyler Durden on 06/12/2015 - 08:16 Once you funnel everyone into risk assets and then mask the risk to generate complacency, you guarantee a bidless market when risk reappears.

Stop Printing Money For The Banks, Hand Out Cash To The People Instead, Citi Tells Australia

Submitted by Tyler Durden on 06/12/2015 - 11:46
"Fiscal stimulus to households was successful during the financial crisis. Cash payments to households of around 1% of GDP (half of the size deployed during the GFC) could help lift economic growth close to trend, particularly if the accompanying political message was “confidence enhancing." - Citi

Fukushima News 6/12/15: IAEA Blasts Fuku Operator-Safeguards Lacking; *Missing* Foreign Trainees

from MissingSky101:

FATCA Goes Full-Retard as Mr. Obama Extorts This Country Into Compliance…

from Sovereign Man:
OK this is really getting ridiculous.
Despite being the sacred keepers of the Catholic faith and trustees of the meek, the Holy See has just inked a deal with the US government putting the Pope in bed with the Internal Revenue Service.
It’s so bizarre you couldn’t possibly make this stuff up anymore.
The Vatican City has been forced into sharing information with the US.
So now, like a good little doggy, they’re obliged to cough up financial records on anyone they’ve ever had dealings with whenever Mr. Obama snaps his fingers.
I’m not sure this is what Pope Francis had in mind when he called for an end of “the cult of money and the dictatorship of an economy”.
Read More @ SovereignMan.com

The Brutal War Between Gold And The Federal Reserve And Is The Price Of Gold Really Headed To $20,000?

from KingWorldNews:
This chart (below) shows the ratio of the gold price to the St. Louis Adjusted Monetary Base back to 1918. The monetary base roughly matches the size of the Federal Reserve balance sheet, which indicates the level of new money creation required to prevent debt deflation. Previous gold bull markets ended when this ratio crossed over the 4.8 level. The chart below reveals just how far the bull market in gold has to run before it ends in exhaustion. Gold would have to advance more than 16.5-times in price vs the monetary base in order to hit the 4.8 level highlighted above. If the monetary base just stayed stagnant and the 4.8 ratio is hit, that means the gold price will be nearly $20,000.
There is a massive chasm between the Fed’s balance sheet and today’s gold price. This is one of the many reasons the gold price is set for a historic upside surge (see chart below that is updated through June of 2015).
Read More @ KingWorldNews.com

11 Year Old Boy Kidnapped By CPS, Parents Arrested, After He Played In Back Yard Alone For 90 Minutes

Must attend therapy and State mandated day camp
by Steve Watson, Infowars:

A couple in Florida were arrested and charged with felony neglect after their 11-year-old son was left alone in the back yard playing basketball for 90 minutes. Furthermore, the child was taken from the parents and placed into foster care.

The remarkable story was related to the website Free Range Kids, which advocates raising children to be self reliant, rather than succumbing to the nanny state.

The boy found himself locked out of the family home in April, after the parents became stuck in traffic. A busy body neighbor decided that this was far too dangerous, and called the cops. When the parents arrived home, they were put in handcuffs, strip searched, fingerprinted and subsequently held overnight in jail.

Read More @ Infowars.com

It’s Time to Ban Toxic Flavorings from Processed Foods

by Catherine J. Frompovich, Activist Post:
Kudos are due Center for Science in the Public Interest, Natural Resources Defense Council, Center for Food Safety, Consumers Union, Improving Kids’ Environment, Center for Environmental Health, Environmental Working Group, and James Huff for the 38-page petition they filed June 10, 2015 with the Director of the Office of Food Additive Safety at the Center for Food Safety and Applied Nutrition regarding the removal of seven synthetic flavors and one additional flavor from the U.S. food production/processing/manufacturing processes.
The flavors involved are:

1. Benzophenone (also known as diphenylketone);
2. Ethyl acrylate;
3. Eugenyl methyl ether (also known as 4-allylveratrole or methyl eugenol);
4. Myrcene (also known as 7-methyl-3-methylene-1,6-octadiene);
5. Pulegone (also known as p-menth-4(8)-en-3-one);
6. Pyridine;
7. Styrene; and
8. Trans,trans-2,4-hexadienal.

that previously had been approved as GRAS (generally regarded as safe), but recently have been regarded as not safe under the Delaney Clause guidelines and as being probable carcinogens.
Read More @ ActivistPost.com

Bilderberg Kingpin Henry Kissinger Admits ISIS Gets Its Weapons from US

by Kurt Nimmo, Infowars:
Bilderberg steering committee member and architect of a globalist order, Henry Kissinger, told Fox News on Wednesday the United States is responsible for arming ISIS. Kissinger did not say the arming of the Islamic State was a deliberate process.
In March, Qasim al-Araji, the head of the Badr Organization in Iraq, told parliament he had evidence the U.S. has deliberately armed the Islamic Army, according to a report carried by the Arabic language Almasalah. Infowars.com reported on March 5:
Iranian media and other sources have claimed on at least two occasions U.S. military aircraft dropped weapons in areas held by the Islamic State.
Read More @ Infowars.com

THE GLOBAL FINANCIAL RULERS: World Bank the Latest to Urge Fed to Hold Interest Rates Until 2016

The World Bank’s warning comes after the International Monetary Fund (IMF) said last week that the Fed should delay a rate hike until the first half of 2016.
from CNBC:
The World Bank has become the latest global organization to urge the U.S. Federal Reserve to delay raising interest rates until 2016, amid growing expectations that the central bank could hike as early as September.
The financial institution said on Wednesday that keeping rates at record lows would help avoid the kind of financial market volatility witnessed during the “taper tantrum” of summer 2013.
Read More @ CNBC.com

QE Begins to Screw Investors

from Wolf Street:
Call it a crash? The price of Germany’s 10-year government bond, one of the most “conservative” investments in the world, dropped 7.5% in the seven weeks since April 20. And the price of the 30-year bond plunged 23%.
You can always hold it to maturity, have your money tied up for 30 years with almost no income, and let inflation whittle down its purchasing power.
Investors who’d bought into the ECB’s negative-yield absurdity, the sky-is-the-limit-for-bonds idiocy, pandemic deflation hype, and QE as a miracle wealth generator late last year and through April 20 this year are now sitting on sizeable losses.
Read More @ Wolfstreet.com
image/dailyreckoning.com

THE FED: We rob-from-the-Poor and give-to-the-Rich

by Jeff Nielson, Bullion Bulls:
There was a stunning post over at Zero Hedge today, seizing upon a policy paper written by one of the Federal Reserve’s lackey-economists at the Philadelphia Fed. Very simply (but in a typically twisted manner) the Federal Reserve has now admitted what we have known all along. It is DELIBERATELY engaged in the wealth-redistribution of stealing-from-the-Poor and giving-to-the-Rich.
I’ve written a commentary on this (for Sprott Money) which I just sent off this morning, but this is such an important subject that I wanted to immediately get this onto the Forum, via posting an excerpt from Zero Hedge.
So who are “the Rich”?” No surprises there. We already knew that the primary “beneficiaries” of the Fed’s Reverse-Robin Hood crimes are the Top-1%. But what might (will?) surprise readers is learning just how broad “the Poor” have become. In other words; when we divide our societies up into the “winners” and “losers” of these monetary crimes (or rather, when the central bankers divide us); it’s amazing how few “winners” there are — and how many “losers”.
Read More @ BullionBullsCanada.com

The Men Behind The Curtain REVEALED [This One Has Woken Up Millions of People]

These Are The Men Who Own and Run the U.S. Government
from Zeitgeist Part III, via Great White7:



Discover the truth about the men behind the curtain who own and run the U.S. Government. [hat tip for the reminder to re-post: Anon]

Farmers Are Starting to Ditch GMO Soybeans

by Christina Sarich, Natural Society:

If a Roundup Ready variety of soybeans might cost $65 to $70 a bag, and conventional, non-GMO varieties are $30 to $35 a bag, you would think farmers would be eschewing GMO beans. An agronomist with the Division of Agriculture at the University of Arkansas is planting nine non-GM soybeans on his test plots, four developed by the University. Here’s why. . .
U of A has been expanding its research into non-GMO soybean varieties because the cost to produce GM soybeans is rising, and the price a farmer can fetch for them once he harvests is falling. Meanwhile, GM commodity prices are increasingly taking a beating as consumers in the US and other countries refuse to eat genetically modified food.
Agronomist Jeremy Ross began his trials last year. He planted the four soybean varieties developed by U of A along with two publicly-developed varieties, one from Virginia Tech and another from the University of Tennessee.
Read More @ NaturalSociety.com

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