Sunday, October 20, 2019

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EVERY BOGUS 2016 FISA REQUEST to Spy on Trump was Signed by Obama’s AG Loretta Lynch

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by Joe Hoft, The Gateway Pundit:

On March 7th, 2016 The Gateway Pundit reported – Only 1 in 10,000 FISA Requests Was Denied in 6 Years — Obama’s First Request to Wiretap Trump Denied in 2016.

We now know that the FISA requests to spy on Carter Page were based on the discredited and bogus fake Trump dossier created by Fusion GPS and that the dossier’s origin was not reported to the court.

We also know that all of these requests were signed off on by the Obama Administration’s Attorney General Loretta Lynch and that the first request to spy on Trump was denied by the FISA Court.

In March 2017 we reported that President Trump tweeted that former President Obama had petitioned a court [at least] twice in order to wire tap current President Trump when he was running for office.

In his first tweet President Trump tweeted:

Terrible! Just found out that Obama had my “wires tapped” in Trump Tower just before the victory. Nothing found. This is McCarthyism!

The President next tweeted:

Is it legal for a sitting President to be “wire tapping” a race for president prior to an election? Turned down by court earlier. A NEW LOW!

We also reported that according to ABC News:

More than a thousand applications for electronic surveillance, all signed by the attorney general, are submitted each year, and the vast majority are approved. From 2009 to 2015, for example, more than 10,700 applications for electronic surveillance were submitted, and only one was denied in its entirety, according to annual reports sent to Congress. Another one was denied in part, and 17 were withdrawn by the government.

Read More @ TheGatewayPundit.com

DEVELOPING: NEW HILLARY EMAILS RELEASED – CONTAINS DIRECTIONS ON DELETING

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from Infowars:

Piecing together Hillary’s tenure as Secretary of State

The State Dept. recently released new Hillary Clinton emails; this piece will provide a quick-to-read breakdown of two exchanges.

First is an email that appears to be a discussion over deleting data from a Blackberry, much like the ones Hillary Clinton uses. Note the names of the emails:

From: Justin Cooper

Sent: 9/2/2011 8:03:46 PM

To: Bryan M. Pagliano

CC: Jon Davidon

Subject: Re: Question

Easy to do
Go to settings
Advanced
Service books
And delete anything that says cmime
Or hr15@att.blackberry.net
Or hdr22@clintonemail.com

Try to leave the stuff that says desktop

Got that jd?

 

 

It is unlcear if “cmime” is a typo or intentional.

Second is an exchange Hillary (referred to as “H”) and Huma Abedin have with Chelsea Clinton, who writes under the alias “Diane Reynolds.” Chelsea describes a notable security encounter she had at what is most likely an airport, location redacted.

Here is a condensed version of the exchange:

From: Diane Reynolds
To: Huma Abedin; H
Sent: Sat Jan 30 17:20:00 2010
Subject: Random fyi

Hello my two favorite people who work at the state department- I was delayed and stopped at [Redacted] coming into [Redacted] on [Redacted] and [Redacted] leaving [Redacted](on my flight on the ground). On [Redacted] it took me probably 5 minutes to clear through (everyone else went through while I waited) and tonight it took much longer. People were called out and conferrals happened in rapid Arabic while the then gathered stared at the screen with my data on it. One of the men said I may need to anser a few Qs, I said of course. More conferrals. Ultimately, I didn’t after the senior man pressed a button that clearly removed whatever was troubling the first few. (I had visions of having to call the US Embassy). Strange though isn’t it? Anything I should be concerned abt/we should try to fix?

Hillary: I can’t imagine what it could be–do you know Huma?

Chelsea: Strange isn’t it? Because it happened in and out of [Redacted] And they looked very serious tonight. The young man was upset- he clearly thought it was premature (even after awhile) to allow me to pass thru. Something he saw on the screen? All my travel given my age and sex? Or a less savoury person with the same name??

Hillary: Weren’t you travelling under your own name? Has it ever happened before?

Chelsea: [Long Redaction]. It was odd- particularly tonight. the men could not have been more calm and professional but it was notable- and the woman from the airlines kept saying, this has never happened before (which wasn’t comforting:)). Security here is omnipresent and thorough which I hope translates into effective.
Please don’t worry- it was just odd and I wanted to raise as a fyi.

One can deduce from this transcript that:

Read More @ Infowars.com

On Same Day Trump Releases Nunes’ Memo, Federal Judge Keeps Comey Memos Secret

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by Richard Pollock, Freedom Outpost:

U.S. District Judge James Boasberg, who ruled in favor of the FBI’s request to keep the Comey memos secret, also sits on the Foreign Intelligence Surveillance Court. The FISA Court is the same court that approved the surveillance on Trump associates.

On the same day the House Permanent Select Committee on Intelligence released the Nunes memo showing the FBI relied on the salacious and unverified Trump dossier to obtain a surveillance warrant on Carter Page, a federal judge ruled to withhold the Comey memos. The memos, authored by former FBI Director James Comey, are about his nine private conversations with President-elect and President Trump.

U.S. District Judge James Boasberg, who ruled in favor of the FBI’s request to keep the Comey memos secret, also sits on the Foreign Intelligence Surveillance Court. The FISA Court is the same court that approved the surveillance on Trump associates.

Boasberg refused to release the documents on the basis they were still being used by special counsel Robert Mueller in his investigation of the alleged Russian collusion with Trump associates.

The judge ruled, “the Comey Memos, at least for now, will remain in the hands of the Special Counsel and not the public.”

“It’s unfortunate, but not at all surprising, to see a FISA court judge side with secrecy over transparency on the very day the House Intelligence Committee released a very troubling example of abuse of trust within the FISA system,” said Christopher Bedford, the editor-in-chief of TheDCNF.

On March 16, one week after Trump fired Comey, the public first learned the former FBI director had penned a memo on a Feb. 14 Oval Office meetings with President Trump.

Comey told the Senate Select Committee on Intelligence in June 8 testimony that he authored secret memos of all his meetings and conversations with President-elect and President Trump.

He testified that after his first conversation with then-President-elect Trump, he “felt compelled to document.” He said he “began to type … on a laptop in an FBI vehicle outside Trump Tower the moment [he] walked out of the meeting.”

Ever since news organizations and nonprofit watchdog groups filed Freedom of Information Act requests seeking the memos, the FBI has been steadfast in refusing to release them.

News organizations — including The Daily Caller News Foundation, CNN, and USA Today — sought the Comey memos under the Freedom of Information Act in June 2017. Judicial Watch, Freedom Watch, the James Madison Project and journalists Garrett Graf and Lachlan Markay also requested the documents.

The FBI quickly declined to release all nine memos, stating on June 16, “The records responsive to your request are law enforcement records. There is a pending or prospective law enforcement proceeding relevant to these responsive records, and the release of the information could reasonably be expected to interfere with enforcement proceedings.”

The District Court accepted followup lawsuits by the news organizations and nonprofit groups in July. On July 31, the suits were consolidated into a single lawsuit.

The FBI privately entered affidavits and other evidence before Boasberg to convince the judge to withhold the memos. None of the plaintiffs were able to review the FBI documents.

Boasberg said the FBI affidavits would be shared with the plaintiffs if they appealed the case.

“It’s unfortunate, but not at all surprising, to see a FISA court judge side with secrecy over transparency on the very day the House Intelligence Committee released a very troubling example of abuse of trust within the FISA system. We are considering our options to appeal now,” Bedford said.

Read More @ FreedomOutpost.com

16 Bombshells in the Nunes Memo the Media Do Not Want You to Know About

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by John Nolte, Breitbart:

In its partisan zeal to protect the ongoing witch hunt against President Trump, our Nixonian media went into hyper-drive last week to ensure that the unethical and un-American behavior of President Obama’s FBI and Justice Department remained covered up from the public.

After this cynical effort failed with the release of the Nunes memo Friday, the media quickly switched tactics and is now working feverishly to muddy the waters about the horror show revealed in the memo.

To begin with, it is obvious that a hysterical talking point about declaring the release of the memo a “Constitutional Crisis” has been spread far and wide… Naturally, the “constitutional crisis” in question is not the wrongdoing committed by federal law enforcement. Instead, because we are now deep within the head of the media’s fabricated reality where wrong is right and up is down, the “constitutional crisis” is that government wrongdoing was uncovered.

One way the media are hoping to shield the federal government from accountability for its indefensible lies, cover-ups, and civil rights violations is to muddy the waters; to distract us with nonsense so that we lose focus on the sins committed by an FBI and Department of Justice (DOJ) that abused its power and public trust in unprecedented ways.

Here are 16 things the media do not want you to know about the Nunes memo:

  1. The so-called Russian Dossier, the creation of Fusion GPS and former British spy Christopher Steele, is a political document — namely, opposition research, created for the Democrat National Committee and Hillary Clinton’s 2016 presidential campaign.
  2. Using what it knew was opposition research paid for by the Clinton campaign, in October of 2016, the FBI and DOJ obtained a FISA warrant from the secret Foreign Intelligence Surveillance Court to install a wiretap to spy on Hillary Clinton’s opponent — the Trump campaign, specifically Carter Page. This spying would last for a year.
  3. It should be noted that the FISA court was set up to stop foreign terrorists. The fact that the FBI and DOJ would use this court to not only wiretap an American but to wiretap a presidential campaign belies belief. Why Obama’s FBI and DOJ used this court as opposed to a normal court is obvious. As you will see below, a normal court probably would have denied the wiretap.
  4. Worse still, in the summer of 2016, Obama’s DOJ had already opened a counter-intelligence investigation into the Trump campaign. The fact that nothing from that months-old partisan investigation was used to obtain the Page wiretap is revealing.
  5. According to the Nunes memo, an “essential” part of the FISA wiretap application was the Steele dossier, which again is a partisan political document created for the Clinton campaign.
  6. So essential was this partisan dossier, Andrew McCabe, the disgraced former-Deputy Director of the FBI, admitted in December that “no surveillance warrant would have been sought” without the dossier.
  7. Not only did the FBI knowingly use a document from a partisan campaign to obtain a FISA warrant to spy on the competing campaign, the FBI knew the dossier was mostly “salacious and unverified.” We know this because disgraced former-FBI Director James Comey told us so in June of 2017.
  8. According to the Nunes memo, “Steele told [former FBI official Bruce] Ohr, he ‘was desperate that Donald Trump not get elected and was passionate about him not being president.’”
  9. Ohr, who was part of the FBI’s anti-Trump Russian investigation, was not only friendly with Steele, Ohr’s own wife worked with Steele at Fusion GPS doing opposition research (the dossier) against Trump for the Clinton campaign.
  10. Despite a) knowing the dossier was opposition research paid for by the Clinton campaign b) knowing the dossier was “salacious and unverified” c) knowing Steele was desperate to destroy Trump d) the breathtaking conflict of interest in having an investigator’s own wife working on the dossier, the FBI still went to the FISA court to obtain permission to spy on Hillary Clinton’s opponent.
  11. In order to obtain a warrant to spy on the Trump campaign, all of the conflicts of interest above were withheld from the FISA court — an indefensible (and possibly illegal) lie of omission.
  12. Even worse, in order to legitimize a warrant request based on a piece of partisan opposition research they knew was “salacious and unverified,” the FBI and DOJ used a media report to bolster the findings in the phony dossier. The FBI and DOJ told the court that the media report was independent verification of the dossier. But this was not true, and, according to the Nunes memo, the FBI and DOJ knew this was not true. The truth is that the phony dossier was the source of this media report.
  13. Also hidden from the FISA court was the fact that the FBI obtained Steele as a source but had to fire him in October of 2016 when, in a bid to use his phony dossier to derail the Trump campaign, he leaked his information to the far-left Mother Jones.
  14. Although the FBI and DOJ were willing participants in pushing a “salacious and unverified” narrative against a presidential candidate (primarily through media leaks), this was all hidden from congressional investigators. To begin with, for months, while under oath, Comey said he did not know where the dossier came from — meaning from the Clinton campaign. The Wall Street Journal explains:

We also know the FBI wasn’t straight with Congress, as it hid most of these facts from investigators in a briefing on the dossier in January 2017. The FBI did not tell Congress about Mr. Steele’s connection to the Clinton campaign, and the House had to issue subpoenas for Fusion bank records to discover the truth. Nor did the FBI tell investigators that it continued receiving information from Mr. Steele and Fusion even after it had terminated him. The memo says the bureau’s intermediary was Justice Department official Bruce Ohr, whose wife, incredibly, worked for Fusion.

  1. All of this dishonesty occurred under Comey, the man our media now hold up as a living saint, a man so desperate to destroy Trump, he not only oversaw those committing the above abuses, he leaked classified information to the news media in order to see a Special Prosecutor appointed against Trump, which his pal, Deputy Attorney General Rod Rosenstein, immediately did.

And finally…

Read More @ Breitbart.com

Schumer/Pelosi: The Ugly Face of Bitter Defeat – Democrats Secret Plan to Take Back Control

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by Kerry Lutz, Financial Survival Network:

Watching the [Deep] State of the Union Address, one could not help but be shocked at the petulant vituperative Democrat congressional delegation’s demeanor. The angry scowls, the refusal to applaud or stand up for the improving employment picture–both minority and female, economic expansion and the hope for a better tomorrow. These positive uplifting themes were met with icy silence and a refusal to engage. That is with the exception of West Virginia Senator Joe Manchin, who looked like a puppy unsure of which master to follow.

One must ask, why the negative display? Don’t they want what’s best for America? The alarming answer is quite simple. They have been permanently defeated. They looked like the losing Super Bowl team that just fought it out with Tom Brady and the Patriots. They’ve been banished to the locker room and are attempting to cope with this unacceptable reality.

With the complete support of the deep state, they really believed that they could easily defeat Donald Trump. First in the election, and then in the attempted silent coup thereafter. Their naivete was reminiscent of a cocky adolescent taking on an international chess grandmaster. After an aggressive opening gambit, the teen believes that he’s got the master on the run. However, he’s failed to realize that the game was lost before he moved the first pawn. Great strategists win before a shot is fired or they take the field. The deep state was beaten before Trump went down the escalator. Unfortunately no one told the blackhats.

However, the Democrats have a secret plan to take power back. It’s called the Schwarzenegger Option. Sensing complete defeat at the hands of Sensei Trump, Skynet/Democrats know their only chance is to retroactively terminate him. With the help of a few die-hard deep state blackhats, Pelosi/Schumer are planning to use the Area 51 Time Portal to transport them back to 1930. They will intercept Trump’s Dreamer Mother, Mary Anne MacLeod, while she’s attempting to immigrate to the United States. The plan is to do a Sarah Connor and terminate her with extreme prejudice. Thus President Trump will have never been born and Hillary Clinton will rightfully win the presidency. Keep your eyes open for a time paradox, one second Trump is president and then the next it’s Hillary. You can’t make this stuff up.

Read More @ FinancialSurvivalnetwork.com

Concrete Nuclear Dome Is LEAKING RADIOACTIVE Waste Into The Ocean

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by Mac Slavo, SHTFPlan:

The nuclear waste dome on Runit Island northeast of Australia is leaking. The site is pouring nuclear radioactive waste from 43 tests directly into the ocean.

Between 1948 and 1958, the Enewetak Atoll was used by the US government to test 30 megatons of nuclear weapons, which is the equivalent to 2,000 Hiroshima blasts. More than 8,000 people later worked hard to clean up that island, shifting 110,000 cubic yards of radioactive debris into a 30-foot-deep crater, which was later sealed in a concrete dome to prevent contamination.

Paul Griego, who took part in the cleanup and blames the radiation for a host of health problems, said the dome was never fit for the purpose of containing radioactive waste. Although the dome is 16 inches thick, and 350 feet across, Griego says it’s nothing more than a “gigantic radioactive toilet.”

“We were given an impossible task – cleaning up the radioactive fallout from 43 nuclear bombs. When I first arrived, the dome’s blast crater was open to the ocean – it continued to be full of sea water even after it was sealed off from the ocean. During my 10-hour work day, I witnessed the water level in the crater rise and lower as the tide came in and out,” says Griego.

The dome is now weathered by decades of exposure to winds and rain, and the radioactive material inside. It’s feared that rising seas and storms could see all the radioactive material pour into the ocean. “No attempt was made to drain the crater or line it before the radioactive waste was dumped into it. The coral that created the island is porous and the shock from numerous nuclear weapon tests had also fractured the coral,” Griego said. “From the first day forward, the water has flowed out of the lagoon with the tide, creating a gigantic radioactive toilet that is flushed about twice each day into the Pacific Ocean.”

And the storms are only making matters worse. “I believe the dome could be just one typhoon away from a breach,” Griego added. Rama Schneider, who drove radioactive waste from island to island in an amphibious vehicle during the cleanup, said it was no surprise that the dome was failing. “Standing on any island at that atoll is akin to standing inches above sea level – and that was in 1979,” said Schneider.

Read More @ SHTFPlan.com

Former CIA Analyst of 27 Years: ‘Nunes Memo’ Reveals Felony Crimes at FBI and DOJ

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by Ray McGovern, The Anti Media:

The long-awaited House Intelligence Committee report made public today identifies current and former top officials of the FBI and the Department of Justice as guilty of the felony of misrepresenting evidence required to obtain a court warrant before surveilling American citizens. The target was candidate Donald Trump’s adviser Carter Page.

The main points of what is widely known as the “Nunes Memo,” after the House Intelligence Committee Chair Devin Nunes (R-Calif.), have been nicely summarized by blogger Publius Tacitus, who noted that the following very senior officials are now liable for contempt-of-court charges; namely, the current and former members of the FBI and the Department of Justice who signed off on fraudulent applications to the Foreign Intelligence Surveillance Court: James Comey, Andy McCabe, Sally Yates, Dana Boente and Rob Rosenstein. The following is Publius Tacitus’s summary of the main points:

  • The dubious but celebrated Steele Dossier played a critical role in obtaining approval from the FISA court to carry out surveillance of Carter Page according to former FBI Deputy Director Andy McCabe.
  • Christopher Steele was getting paid by the DNC and the FBI for the same information.
  • No one at the FBI or the DOJ disclosed to the court that the Steele dossier was paid for by an opposition political campaign.
  • The first FISA warrant was obtained on October 21, 2016 based on a story written by Michael Isikoff for Yahoo News based on information he received directly from Christopher Steele — the FBI did not disclose in the FISA application that Steele was the original source of the information.
  • Christopher Steele was a long-standing FBI “source” but was terminated as a source after telling Mother Jones reporter David Corn that he had a relationship with the FBI.
  • The FBI signers of the FISA applications/renewals were James Comey (three times) and Andrew McCabe.
  • The DOJ signers of the FISA applications/renewals were Sally Yates, Dana Boente and Rod Rosenstein.
  • Even after Steele was terminated by the FBI, he remained in contact with Deputy Attorney General Bruce Our, whose wife worked for FUSION GPS, a contractor that was deeply involved with the Steele dossier.

From what Michael Isikoff reported in September 2016 it appears that the CIA and the Director of National Intelligence (as well as the FBI) are implicated in spreading the disinformation about Trump and Russia. Isikoff wrote:

“U.S. intelligence officials are seeking to determine whether an American businessman identified by Donald Trump as one of his foreign policy advisers has opened up private communications with senior Russian officials — including talks about the possible lifting of economic sanctions if the Republican nominee becomes president, according to multiple sources who have been briefed on the issue. […]

“But U.S. officials have since received intelligence reports that during that same three-day trip, Page met with Igor Sechin, a longtime Putin associate and former Russian deputy prime minister who is now the executive chairman of Rosneft, Russian’s leading oil company, a well-placed Western intelligence source tells Yahoo News.”

Who were the “intelligence officials” briefing the select members of the House and Senate? That will be one of the next shoes to drop. We are likely to learn in the coming days that John Brennan and Jim Clapper were also trying to help the FBI build a fallacious case against Trump, adds Tacitus.

Indeed, Rep. Greg Walden (R-OR), Chair of the House Energy and Commerce Committee, has already indicated that his disclosures in the Nunes Memo represent just “one piece of a probably much larger mosaic of what went on.”

The Media Will Determine What Comes Next

As for Congressman Adam Schiff (D-Calif.), ranking member of the House Intelligence Committee, it is now abundantly clear why he went to ridiculous lengths, as did the entire Democratic congressional leadership, to block or impugn the House Intelligence Committee report.

Read More @ TheAntiMedia.com

Human memory could soon be tracked, boosted, or erased with the use of radical new technology

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by David Williams, Natural News:

Scientific research on the human brain has yielded some very interesting results. According to the world’s foremost experts on the subject, they have made significant progress on the road to understanding human memories. Soon, they expect to be able to not only understand human memories fully but also to manipulate them at will.

Today’s technology is slowly making it possible. And scientists are beginning to realize that, by combining a few different methods, they could come up with radical new solutions to the problem of how to better understand the brain when it comes to handling memories — how they’re made, where they’re stored, and how they could be changed in the event that it becomes necessary.

According to Dr. Alison Preston from the University of Texasmemories were always sort of understood — in the intuitive sense — even if the mechanisms behind them were still unclear. But now, a number of different approaches might lead directly to open manipulation of memories in the human brain.

Firstly, scientists have recently adapted a nearly two-decade-old discovery that introduced the world to so-called “face cells” — neurons in the brain that appeared to become highly active when thinking about the face of a certain individual. Face cell activity was seen as an indication that specific neurons are associated directly with certain people’s faces. This discovery was used in conjunction with another one, which showed the presence of CREB — a key protein that appears to be active during learning — and the effects of boosting it on the formation of memories.

To make a long story short, increasing the levels of CREB in neurons makes it more likely to activate and store a memory than if they remain as is. Scientists concluded that if it was possible to activate certain groups of neurons prior to learning activities, then it should be possible to specify where exactly certain memories are stored for later remembrance.

And what’s the next step, assuming that it’s already possible to pinpoint the exact location of a memory in the brain? There are signs that point to the possibility of implanting memories as a likely outcome, given that it’s already known that “reconsolidation” happens during memory recall. Reconsolidating is a term that simply refers to what happens when a person tries to remember certain memories, and they end up including or removing certain details from it. In effect, an entirely new memory gets pulled out from the brain each time a memory is recalled.

This is seen as an opportunity to implant memories, and a team led by Dr. Susumu Tonegawa at the Massachusetts Institute of Technology (MIT) have proven that you can be precise with it. In their study, they showed how easy it can be to create an artificial linkbetween a completely benign situation and something scary. That is, they managed to associate a negative reaction to something that’s actually harmless.

The same team also conducted a later study where they aimed to do the opposite and reversed the associated negative reaction into a positive one. Their success here has shown that it’s possible to not only implant memories, but also later erase them — with the right tools and procedures, that is.

Read More @ NaturalNews.com

BREAKING: Second Source Comes Forward=> Claims Rosenstein Threatened Nunes and House Intel if They Didn’t Stop Investigation!

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by Jim Hoft, The Gateway Pundit:

FOX News legal analyst Gregg Jarrett went on with Sean Hannity on Friday night after the release of the House Intelligence FISA memo.

Jarrett said his sources told him Rod Rosenstein threatened the House Intelligence Committee members three weeks ago.

The House Intelligence Committee released their classified FISA memo on Friday morning.

The House voted on Monday along party lines to share the explosive memo with the American public.

This comes after the approval of President Donald Trump.

** Read the entire un-redacted document here.

Gregg Jarrett: I can tell you a congressional source tells me that Rod Rosenstein in a meeting three weeks ago threatened Chairman Nunes and members of Congress he was going to subpoena their texts and messages because he was tired of dealing with the intel committee. That’s threats and intimidation.

Now this…

On Saturday morning Gregg Jarrett tweeted out that a second source now says Rod Rosenstein threatened Chairman Nunes and House Intelligence members if they did not stop their investigation.

Read More @ TheGatewayPundit.com

Amazon’s Shock And Awe Earnings

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by Dave Kranzler, Investment Research Dynamics:

Yesterday ahead of earnings, AMZN’s stock dropped $60, with $30 of that drop occurring in the last hour of trading.   It’s almost as if market-makers, with their customary preview of the impending AMZN headline EPS report in hand,  intentionally took the price down to set-up a short-trap.  AMZN stock closed at $1390, down $60 from Wednesday’s close.

Shortly thereafter, AMZN’s earnings headline showed $3.85/share, more than double the consensus estimate produced by Wall Street’s Einstein Center For Earnings Forecasts.  $1.85 was the expectation.  AMZN’s stock shot up to as high as $1480 in after hours, up as much as $90 from the close.  Imagine how much money the Big Bank trading desks made assuming they bought all the shares that were sold short in the last hour of trading on Thursday.

Within the first eight minutes of today’s open, AMZN stock shot up to as high as $1495, up $105 from Thursday’s close.  As I write this, AMZN is trading below Wednesday’s close of $1450:

A round-trip to nowhere, essentially. Here’s the funny thing about AMZN’s earnings that Wall Street’s finest will never report, if they even know the truth. Embedded in AMZN’s net income is a $789 million non-cash “provisional” tax benefit for the estimated impact of the new tax law. Note that this is a somewhat arbitrarily determined number – which is why its labelled “provisional” – and it’s non-cash. This GAAP, non-cash tax “benefit,” as guesstimated by AMZN’s accountants, added $1.63 per share to AMZN’s headline EPS report.

Regardless of how you want to account for this, at face value AMZN’s stock is trading at 233x trailing earnings.  Not including the GAAP, non-cash tax benefit, AMZN stock is trading at 315x trailing earnings.

This is not the only problem with the quality of AMZN’s earnings.  I’ve dissected AMZN’s entire  financials for my Short Seller’s Journal subscribers, as reported, showing the areas in which AMZN has exploited the current highly liberalized GAAP accounting standards to generate the  appearance of financial performance that is not real.

Despite Jeff Bezos’ claim that AMZN generated $8.4 billion LTM “free cash flow,” this misleading metric was down 20% from the end of Q4 2016.  But that’s on display in the earnings slides that AMZN publishes every quarter.  On a true GAAP basis, AMZN generated an LTM cash flow deficit – i.e. negative $1.46 billion.

Read More @ InvestmentResearchDynamics.com