322 Crowning The Eve Of Destruction And Salvation
The crown — a circular band of branches encased in a gilded, golden tube — is being displayed for three days to mark the 800th anniversary of the birthday and christening of King Louis IX of France, who acquired it in 1239.
The relic was first mentioned by Jerusalem pilgrims in the 5th century and was transferred to Constantinople in the 10th century.
The artifact has appeared in special ceremonies a handful of times in the last hundred years: in 1997, and in 1939 on the eve of World War II, to celebrate seven centuries since it came to France.
Palestinian leader Mahmoud Abbas reportedly told US president Barack Obama he won’t recognize a “Jewish Israel,” he won’t abandon the “right of return,” and he won’t commit to “end of conflict” during talks this week.
As was reported earlier, the Turkish premier, embroiled in what increasingly appears a career terminating corruption and embezzlement scandal (it is not exactly clear yet just how involved the CIA is in this particular upcoming government overthrow), blocked Turkey’s access to Twitter last night, hours after vowing to “destroy twitter.” The idiocy of this escalation against dissemination of information in the internet age needs no comment. Well maybe one. This is what we said in our post from this morning: “since Turkey will certainly not stop at just Twitter, here is what is coming next: “Last week, Erdogan said the country could also block Facebook and YouTube.” It now appears that at least half of this threat is about to materialize because moments ago Google just announced that it would not remove a previously uploaded video, one in which Erdogan tells his son to hide money from investigators (one which can be seen here), and which Erdogan demanded be pulled from Google (seemingly unaware that by doing so he simply made sure that everyone saw it). This means that within days, if not hours, Turkey will likely block Google-owned YouTube, if not Google itself.
Alas, with the government in full out despotic mode, however one which would work in the 1970s but certainly not in an age of instant information exchange, further escalations of locking out internet provides will certainly accelerate until finally the information and entertainment starved country says enough.
We eagerly look forward to see which particular pro-Western agent is groomed to take Erdogan’s place. After all remember: those Qatari gas pipelines that in a parallel universe, one without Putin, would have already been transporting nat gas under Syria, would enter Europe under Turkey.
Which makes one wonder – just what is the real goal here?
As for Turkey, we urge the population, largely removed from all Machiavellian moves behind the scenes, to catch up on their favorite YouTube clips: they will shortly disappear for good.
It is widely known that Russia is owed billions by Ukraine for already-delivered gas (as we noted earlier, leaving Gazprom among the most powerful players in this game). It is less widely know that Russia also hold $3b of UK law bonds which, as we explained in detail here, are callable upon certain covenants that any IMF (or US) loan bailout will trigger. Russia has ‘quasi’ promised not to call those loans. It is, until now, hardly known at all (it would seem) that China is also owed $3bn, it claims, for loans made for future grain delivery to China. It would seem clear from this action on which side of the ‘sanctions’ fence China is sitting.
While China has been relatively quiet in the background – though abstaining from the UN vote waqs a clear signal of relative support for Russia – this is a meaningful step in the direction of pressure against the West, as yet again, any bailout funds would flow straight to either Russia (gas bill sor callable bonds) or China (agriculture loans).
^^^This guy’s 20 year ”theory” is silly. 2016 is not silly.
The Internal Revenue Service, already facing accusations that its workers improperly snooped through tax files, has hired a former police officer convicted just a few years ago of illegally accessing FBI records and providing information to a subject of a counterterrorism investigation involving an infamous al Qaeda figure.
Mohammad Weiss Rasool, or Weiss Russell as he is known at the IRS, was sentenced to two years of probation in 2008 after pleading guilty in federal court to illegally accessing the FBI’s National Crime Information Center database to run license tag numbers for a friend he thought was being followed. That friend, it turned out, was the subject of an undercover FBI operation and a close associate of the al Qaeda-linked cleric Anwar al-Awlaki, the American Islamist militant who preached to three of the 9/11 hijackers and inspired the Fort Hood shootings, according to court records and interviews.
This is when the inflation tax will take a much larger bite out of our savings and paychecks. The debt that sustains us now will one day be our undoing.
As detailed in my special report, when President Obama took office at the end of 2008, the national debt was about $10 trillion. Just five years later it has surpassed a staggering $17.5 trillion. This raw increase is roughly equivalent to all the Federal debt accumulated from the birth of our republic to 2004! The defenders of this debt explosion tell us that the growth eventually sparked by this stimulus will allow the U.S. to repay comfortably. Talk about waiting for Godot. To actually repay, we will have few options.
Finally, if anyone is still confused, the IMF-proposed “mansion tax” is most certainly coming to the US, and every other insolvent “developed world” nation, next.
Yesterday’s news from the NAR that in February all cash transactions accounted for 35% of all existing home purchases, up from 33% in January, not to mention that 73% of speculators paid “all cash“, caught some by surprise. But what this data ignores are new home purchases, where while single-family sales have been muted as expected considering the plunge in mortgage applications, multi-family unit growth – where investors hope to play the tail end of the popping rental bubble – has been stunning, and where multi-fam permits have soared to the highest since 2008. So how does the history of “all cash” home purchases in the US look before and after the arrival of the 2008 post-Lehman “New Normal.”
Our personal thoughts: just like the stock market has been levitating on zero volume and virtually no broad distribution, so the entire housing market appears to have morphed into a “flip that house” investment vehicle used by the usual suspects (wealthy foreign oligarchs abusing the NAR’s anti-money laundering exemption to park their stolen funds in the US, government sponsored firms such as BlackStone using near zero cost REO-to-Rent subsidies, and other 0.01%-ers) who piggyback on cash flows deriving from alternative cheap credit-funded investments and translate their profits into real-estate investments.
What is the implication of all the above? Simple: anyone hoping that bank profitability will surge on a steepening of the yield curve due to the imputed positive impact to Net Interest Margin will be disappointed for the simple reason that Americans increasingly refuse to borrow, either due to affordability of availability of credit constraints, and thus the borrow credit cheap, lend expensive arb trade for the banks will simply not work. Incidentally we wrote this in August of last year – since then banks have fired tens, if not hundreds of thousands of mortgage originators having arrived at precisely the same conclusion.
Which also means that the only core driver of revenue, in addition to IPO and M&A fees now that bank fixed income and commodity, not to mention FX, flow trading revenues are crashing, was and remains prop trading, courtesy of the $2.7 trillion in excess reserves parked on bank trading books, which continue to be used as generously levered (think 20 times and above) initial margin with which to keep chasing risk higher.
The first thing I should mention is how unprecedented it is that I’m writing this in the first place. Here I am, directly and consistently accusing two of the world’s most important financial institutions of market manipulation (making sure I send each all my accusations) and I have received no complaint from either. I don’t think that has ever occurred previously. Now I am taking it one step further;presenting a guide for how and why JPMorgan and the CME should be sued for their manipulation of gold and silver (and copper, too).
22 March 2014: I wrote about it nearly one year ago to the day. The Obama agenda is to simply “kill the U.S. dollar,” where the ultimate objective is to implement an international currency in tandem with a system of global governance. Some people laughed, saying it was hype. Others held a death grip onto their normalcy bias, saying it was not possible. Exactly a year later, the stage is being set for the murder of the U.S. dollar. This is a process that has been long in the planning, and is no accident, nor is it a result of the amateurish handling of our economic affairs by the Obama regime or the last few presidential administrations. It is a deliberate process, covered by the fog of the geopolitical machinations between the U.S., Russia and the controlling power elite.
This is all part of a process that ties together seemingly disparate events such as the Arab Spring, the take-over of Libya, the continued attempts to destabilize Syria, and, of course, our meddling in Ukraine. All of these events are interrelated, as are the so-called “banker deaths,” which are obviously much more. One simply has to step back and look at the big picture to understand exactly how we are being led into a global governance of wealth confiscation, redistribution and financial bondage.
The other tragedy in this number is that the Fed has relentlessly printed over $3 trillion for the benefit of what David Stockman calls the “Wall Street casino” (that’s him, pungent, irascible, razor-sharp on CNBC)! And it has artificially repressed interest rates and demolished savers and retirees in order to fatten up the banks and allow executives and employees to extract record bonuses. Fact is, the duration of unemployment has gottenworse for four out of the five years that the Fed has inflicted its loose monetary policies on the real economy. And it has gotten worse since QE3 started in late 2012!
For the millions of unemployed Americans who are looking for a job, this economy is still a historic fiasco. And it’s getting worse again.
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