Tuesday, October 22, 2019

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CRACKS NOW APPEARING IN THE WORLD’S MAJOR OIL INDUSTRY

by Steve St. Angelo, SRSRocco Report:

As the sell-off in the broader stock markets intensifies, it will be bad news for the world’s largest oil companies. Why? Because cracks are already beginning to appear in the biggest and most profitable global oil companies. While rising costs and higher debt levels have been plaguing the U.S. shale oil industry, these negative factors are now impacting the major oil companies as well.

When the oil price fell below $100 in 2014, it spelled doom for the U.S. and global oil industry. As oil prices continued to decline, energy companies were forced to increase their debt and reduce their capital expenditures (CAPEX). Cutting CAPEX spending while adding debt aren’t a good recipe for positive financial earning in the future.

New Wyoming Legal Tender Law Recognizes Gold and Silver as Money

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by Peter Schiff, Schiff Gold:

Gold and silver are money. But most governments treat precious metals like a commodity. They don’t accept it as payment. Worse than that, they tax it. Think about the absurdity of this policy. You don’t tax money!

Fortunately, we’re beginning to see a shift. Many states are repealing taxes on gold and silver, and treating precious metals more like money. Wyoming is the latest state to reform its laws.

These policies not only ease the burden on investors, it opens the door to use gold and silver in everyday transactions, a foundational step for the people to undermine the Federal Reserve’s monopoly on money.

Last week, a Wyoming bill that defines gold and silver specie as legal tender and eliminates all taxes levied on it became law without the governor’s signature.

At Trial of Omar Mateen’s Wife, Judge’s Questioning Reveals a Huge Hole in Prosecution’s Case and Deceit by Prosecutors

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by Glenn Greenwald and Murtaza Hussain, The Intercept:

IN A FEDERAL COURTROOM in Orlando this afternoon, the prosecution of Noor Salman, the wife of Pulse shooter Omar Mateen, suffered a major setback. In front of the jury, a glaring hole in the prosecutors’ case was exposed by the questioning of FBI Special Agent Richard Fennern directly from U.S. District Judge Paul Byron. Outside the presence of the jury, the judge, in angry tones, made clear that he believed he had been misled for months by prosecutors about a key part of the government’s evidence, which was exposed today as being a fraud.

The decision to prosecute Mateen’s wife – on charges that she aided her husband’s attack on Pulse and then obstructed the investigation by lying to the FBI – was, from the start, odd in multiple ways. As the Intercept documented two weeks ago, the case has already revealed that many of the most common beliefs about the Pulse attack are myths, including the belief that Mateen attacked Pulse with an intent to target LGBTs. In fact, the evidence is overwhelming that Mateen had no idea that Pulse was a club that catered to gay people, and that animosity toward LGBTs was not part of his motive in carrying out this heinous crime.

Trump Will Use the “Nuclear Option” on Trade

by Jim Rickards, DailyReckoning:

What we have seen so far are just the opening shots of the coming trade war. Think of it as the Battles of Lexington and Concord that opened the Revolutionary War. Much larger tariffs and penalties are waiting in the wings.

Trump will soon receive a report under Section 301 of the Trade Act of 1974. That report has been almost a year in preparation and will reveal that China has stolen over $1 trillion in U.S. intellectual property.

Section 301 of the Trade Act of 1974 is the “nuclear option” when it comes to trade wars.

I don’t want to get too deeply in the weeds here, but Section 301 gives the president broad authority to impose sanctions and penalties. The president will have a completely free hand to impose billions of dollars of damages if not more on China.

Trump could receive this report within days or weeks. Regardless, it is coming soon.

Is It Fickle Mother Nature Or Determined Weather Geoengineering: Nor’easter No. 4 And Rainwater Analysis

by Catherine Frompovich, Activist Post:

As I write this, I’m wondering how much of the predicted 10-to-18 inch ‘snowfall’ our region will receive during the fourth Nor’easter in just short of three weeks during March 2018. People in this region are getting very antsy about the weather; some seem to be ‘flaking out’ about it; while others are trying to take it in stride. Hardly anything is moving on the roads and everyone is told to stay home. It seems like it’s an exercise in planned obedience to see just what can be effectuated in human behavior.

All these “weather” events began during Christmas week 2017 when we had a snowstorm blow through that probably had some interesting ‘ingredients’ and the proof of what I say is the fact the most beautiful green Boxwood shrub, which has lived for many years in a large garden pot at the back wall of my patio under a very wide overhang from above [my bedroom] protecting it from all weather, was devastated when ‘snow’ had blown onto it, covering it completely. When the ‘snow’ melted, there was white stuff over every leaf, like someone had dusted the leaves with confectioners’ sugar! Guess what happened then? All the leaves died; they turned brown and dried up! That Boxwood had been living in the same place year after year, but snow never fell upon it. What was in the snow that drenched and killed that Boxwood during Christmas week 2017? I saved some leaves if any scientist would like to assay them; just let me know.

The Death Of Democracy

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by Alasdair Macleod, GoldMoney:

Anyone who thinks democracy doesn’t matter may be in for a rude shock later this year, when we know the result of America’s mid-term elections. The Deep State is on course to take control of Congress. If this happens, it will be the next step in a global trend of side-lining democracy in the West, driven in large part by American foreign policy. It has led to governments everywhere increasing control over their people, in an inversion of democratic principles.

It affects us all. Since the Twin Towers tragedy, American foreign policy has taken the lead in extending personal surveillance to every nation in the formerly free world. It has forced banks to divulge their customers’ private affairs in the name of preventing terrorism, crime and tax evasion. Governments that resist these moves have been destabilised, and independent agencies, such as the SWIFT banking system, have been forced to implement America’s foreign policy.

BEWARE OF FAKE GOLD & BE PREPARED FOR SILVER EXPLOSION

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by Egon Von Greyerz, Gold Switzerland:

In the US, fake gold is now a growing problem that is not being tackled. Congressman Alex Mooney (not Money!) has just written to the US Mint of the growing problem of high-quality counterfeits. He also wrote a letter to the Mint in November 2017 but the Mint responded that the problem was not significant. But the US Secret Service has since briefed the office of Congressman Mooney about the extent of the problem and the lack of supportive actions of other agencies. There we have it – a complacent Mint on the one hand and a Secret Service which is involved in fake gold on the other hand. So this is clearly a major problem.

Questions of a Stranger in a Brave New World

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by Uncola, The Burning Platform:

The heart of the wise inclines to the right, but the heart of the fool to the left.

– Ecclesiastes 10:2

For the time will come when people will not put up with sound doctrine. Instead, to suit their own desires, they will gather around them a great number of teachers to say what their itching ears want to hear. They will turn their ears away from the truth and turn aside to myths.

– 2 Timothy 4:3-4

Today, I read an exercise in surreality entitled: ”Yes, This Is Going To Be Worse Than Watergate”. When I first clicked the link, which was posted on Drudge this morning, I thought it was about the forthcoming Inspector General’s report and was hoping it might shed some light on FBI, DoJ, and State Department corruption at the highest levels. Instead, the article rendered liberal outrage at the possibility of the Evil Trump firing the noble and honorable Robert Mueller. The author, furthermore, claimed such a travesty would be a larger scandal than Watergate and lamented how not enough Republicans will join the high-minded, justice-seeking Democrats to save America.

The Globalist Media Is Facing Extinction-The War for Control of the Internet

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by Dave Hodges, The Common Sense Show:

With what is happening to social media and Hollywood in general, you think the liberals, if they wanted to make any money, would get a clue and change their ways and stop the blatant censorship and extreme propaganda. But no, even the Justice League has gone rogue. That is right, the Justice League used to pledge allegiance to America and now the new movie curses America. The “terrorist” in the movie wears a MAGA shirt. I am not joking, the trapppings associated with President Trump are attacked in the new Justice League movie. And the trusted authority figures are all from the United Nations and not the United States.

There is no difference in the extreme propaganda being put forth by the social media and Hollywood. They all serve the same Deep State. Today, the Deep State is in a panic and that panic is refleted in the extreme censorship and and data-selling policies of these globalists.

Is It The Trade War Threats Or Extreme Overvaluation?

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by Dave Kranzler, Investment Research Dynamics:

The stock market is is more overvalued now than at any time in U.S. history. Sure, permabulls can cherry pick certain metrics that might make valuations appear to be reasonable. But these metrics rely on historical comparisons using GAAP accounting numbers that simply are not remotely comparable over time. Because of changes which have liberalized accounting standards over the last several decades, current GAAP EPS is not comparable to GAAP EPS at previous market tops. And valuation metrics based on revenue/earnings forecasts use standard Wall Street analyst “hockey stick” projections. Perma-bullishness in Wall Street forecasts has become institutionalized. The trade war threats may be the proverbial “final straw” that triggers a severe market sell-off, but the stock market could be cut in half and still be considered overvalued.