Saturday, November 26, 2022



By studying ancient evidence, researchers discover that climate change ebbs and flows over time

by ,Lance D Johnson, Natural News:

The mainstream media won’t dare mention the current climate researchexamining ancient evidence which suggests that heating and cooling cycles are a part of Earth’s natural processes, regardless of human population and activity.

The current media bias wants us to believe that climate change is some new man-made threat that governments should take action against. Americans are shamed into believing that their carbon footprint must be restricted and their economy should be turned over to world governing bodies. Democratic support for global governance, weather manipulation and carbon taxes are just a few goals of this continuous promotion of man-made climate change.

Climate change sensationalists even use extreme weather events to their ideological advantage, blaming hurricanes, floods, droughts, volcanoes and earthquakes on the population and human activities. Forcing the public to accept guilt for weather events and carbon levels is a telltale sign that sociopaths want their way. After examining ancient evidence, it becomes clear that weather and climate ebb and flow over time and are affected by phenomenon outside human influence, such as Earth’s orbit, tilt and changing distribution of solar radiation. Any heating/cooling patterns that are recognized today were also recognized tens of thousands of years ago, when human activity barely played a role. Instead of trying to guilt, scare and tax the population over the idea of cataclysmic climate change, more effort should be used to prepare for inevitable changes so that people are more ready to adapt to cycles that naturally take place on Earth.

Rapid climate change took place 780 to 760 thousand years ago, as evidenced by Professor Hyodo Masayuki and a multi-organizational research team from the Research Center for Inland Seas, Kobe University. They found that the Earth went through a period of glacial and interglacial cycles that was caused by changes in the Earth’s orbital rotation and the tilt of its axis in relation to solar radiation distribution. The changes are known to climate scientists as “Milankovitch cycles.” Ironically, the Earth’s current orbital patterns are lining up in similar fashion. Changes in Earth’s climate are vastly out of human control.

Furthermore, scientists at UNSW Sydney found a global warming period in Antarctica that took place 30,000 years ago. By sequencing carbon dating of a kauri tree preserved in a New Zealand peat swamp, they were able to explain why temperatures jumped several degrees centigrade in just a few decades, even during a glacial period.

The rapid warming during a glacial period is known to climate researchers as a Dansgaard-Oeschger event. During this “bipolar seesaw,” temperatures will rise in the Arctic and cool over the Antarctic and vice versa. This cycle is often caused by deep ocean currents shutting down in the North Atlantic. By studying the lake sediments of that time, the researchers identified another phenomenon behind the rapid heating/cooling period of that time – the simultaneous collapse of rain-bearing trade winds over tropical northeast Australia.

“Intriguingly, we found that the spike in temperature preserved in the Greenland ice core corresponded with a 400-year-long surface cooling period in the Southern Ocean and a major retreat of Antarctic ice,” said lead author and UNSW scientist Professor Chris Turney. To test the theory, the researchers created a model simulating the rapid ice retreat and freshwater release around the Antarctic into the Southern Ocean. Their modeling matched the data and caused cooling in the Southern Ocean but left the remaining ocean water circulation unchanged.

The influx of freshwater caused rapid warming in the tropical Pacific, setting off a chain of events in atmospheric circulation that led to much higher temperatures over the North Atlantic and the “collapse of rain-bearing winds over tropical Australia.” If anything is learned from this study, climatologists should note that any attempt to fix the Earth’s natural heating/cooling cycles could cause a ripple effect, leading to weather changes throughout the planet. Any attempt to manipulate cycles that are beyond human control could cause further, unprecedented shifts in climate.

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Every Mass Shooting Shares One Thing In Common & It’s NOT Weapons

by Dan Roberts, Ammoland:

Manasquan, NJ –-( Nearly every mass shooting incident in the last twenty years, and multiple other instances of suicide and isolated shootings all share one thing in common, and its not the weapons used.

The overwhelming evidence points to the signal largest common factor in all of these incidents is the fact that all of the perpetrators were either actively taking powerful psychotropic drugs or had been at some point in the immediate past before they committed their crimes.

Multiple credible scientific studies going back more than a decade, as well as internal documents from certain pharmaceutical companies that suppressed the information show that SSRI drugs ( Selective Serotonin Re-Uptake Inhibitors ) have well known, but unreported side effects, including but not limited to suicide and other violent behavior. One need only Google relevant key words or phrases to see for themselves. is one popular site that has documented over 4500 “ Mainstream Media “ reported cases from around the World of aberrant or violent behavior by those taking these powerful drugs.

The following is a list of mass shooting perpetrators and the drugs they were taking or had been taking shortly before their horrific actions.

The list was compiled and published to Facebook by John Noveske, founder and owner of Noveske Rifleworks just days before he was mysteriously killed in a single car accident. Is there a link between Noveske’s death and his “outting” of information numerous disparate parties would prefer to suppress, for a variety of reasons ?

I leave that to the individual readers to decide. But there is most certainly a documented history of people who “knew to much” or were considered a “threat” dying under extraordinarily suspicious circumstances.


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From Katherine Smith, a Tennessee DMV worker who was somehow involved in helping several 9/11 hijackers in obtaining Tennessee Drivers Licenses, and was later found burned to death in her car. To Pulitzer Prize winning journalist Gary Webb, who exposed a CIA Operation in the 80’s that resulted in the flooding of LA Streets with crack cocaine and was later found dead from two gunshot wounds to the head, but was officially ruled as a “suicide“, to Frank Olson, a senior research micro biologist who was working on the CIA’s mind control research program MKULTRA.

After Olson expressed his desire to leave the program, he was with a CIA agent in a New York hotel room, and is alleged to have committed “suicide” by throwing himself off the tenth floor balcony.

In 1994, Olson’s sons were successful in their efforts to have their fathers body exhumed and re examined in a second autopsy by James Starrs, Professor of Law and Forensic science at the National Law Center at George Washington University. Starr’s team concluded that the blunt force trauma to the head and injury to the chest had not occurred during the fall but most likely in the room before the fall.

The evidence was called “rankly and starkly suggestive of homicide.” Based on his findings, in 1996 the Manhattan District Attorney opened a homicide investigation into Olson’s death, but was unable to find enough evidence to bring charges.

As I said, I leave it to the individual readers to make up their own minds if Noveske suffered a similar fate.

On to the list of mass shooters and the stark link to psychotropic drugs.

  • Eric Harris age 17 (first on Zoloft then Luvox) and Dylan Klebold aged 18 (Columbine school shooting in Littleton, Colorado), killed 12 students and 1 teacher, and wounded 23 others, before killing themselves. Klebold’s medical records have never been made available to the public.
  • Jeff Weise, age 16, had been prescribed 60 mg/day of Prozac (three times the average starting dose for adults!) when he shot his grandfather, his grandfather’s girlfriend and many fellow students at Red Lake, Minnesota. He then shot himself. 10 dead, 12 wounded.
  • Cory Baadsgaard, age 16, Wahluke (Washington state) High School, was on Paxil (which caused him to have hallucinations) when he took a rifle to his high school and held 23 classmates hostage. He has no memory of the event.
  • Chris Fetters, age 13, killed his favorite aunt while taking Prozac.
  • Christopher Pittman, age 12, murdered both his grandparents while taking Zoloft.
  • Mathew Miller, age 13, hung himself in his bedroom closet after taking Zoloft for 6 days.
  • Kip Kinkel, age 15, (on Prozac and Ritalin) shot his parents while they slept then went to school and opened fire killing 2 classmates and injuring 22 shortly after beginning Prozac treatment.
  • Luke Woodham, age 16 (Prozac) killed his mother and then killed two students, wounding six others.
  • A boy in Pocatello, ID (Zoloft) in 1998 had a Zoloft-induced seizure that caused an armed stand off at his school.
  • Michael Carneal (Ritalin), age 14, opened fire on students at a high school prayer meeting in West Paducah, Kentucky. Three teenagers were killed, five others were wounded..
  • A young man in Huntsville, Alabama (Ritalin) went psychotic chopping up his parents with an ax and also killing one sibling and almost murdering another.
  • Andrew Golden, age 11, (Ritalin) and Mitchell Johnson, aged 14, (Ritalin) shot 15 people, killing four students, one teacher, and wounding 10 others.
  • TJ Solomon, age 15, (Ritalin) high school student in Conyers, Georgia opened fire on and wounded six of his class mates.
  • Rod Mathews, age 14, (Ritalin) beat a classmate to death with a bat.
  • James Wilson, age 19, (various psychiatric drugs) from Breenwood, South Carolina, took a .22 caliber revolver into an elementary school killing two young girls, and wounding seven other children and two teachers.
  • Elizabeth Bush, age 13, (Paxil) was responsible for a school shooting in Pennsylvania
  • Jason Hoffman (Effexor and Celexa) – school shooting in El Cajon, California
  • Jarred Viktor, age 15, (Paxil), after five days on Paxil he stabbed his grandmother 61 times.
  • Chris Shanahan, age 15 (Paxil) in Rigby, ID who out of the blue killed a woman.
  • Jeff Franklin (Prozac and Ritalin), Huntsville, AL, killed his parents as they came home from work using a sledge hammer, hatchet, butcher knife and mechanic’s file, then attacked his younger brothers and sister.
  • Neal Furrow (Prozac) in LA Jewish school shooting reported to have been court-ordered to be on Prozac along with several other medications.
  • Kevin Rider, age 14, was withdrawing from Prozac when he died from a gunshot wound to his head. Initially it was ruled a suicide, but two years later, the investigation into his death was opened as a possible homicide. The prime suspect, also age 14, had been taking Zoloft and other SSRI antidepressants.
  • Alex Kim, age 13, hung himself shortly after his Lexapro prescription had been doubled.
  • Diane Routhier was prescribed Welbutrin for gallstone problems. Six days later, after suffering many adverse effects of the drug, she shot herself.
  • Billy Willkomm, an accomplished wrestler and a University of Florida student, was prescribed Prozac at the age of 17. His family found him dead of suicide – hanging from a tall ladder at the family’s Gulf Shore Boulevard home in July 2002.
  • Kara Jaye Anne Fuller-Otter, age 12, was on Paxil when she hung herself from a hook in her closet. Kara’s parents said “…. the damn doctor wouldn’t take her off it and I asked him to when we went in on the second visit. I told him I thought she was having some sort of reaction to Paxil…”)
  • Gareth Christian, Vancouver, age 18, was on Paxil when he committed suicide in 2002,
  • (Gareth’s father could not accept his son’s death and killed himself.)
  • Julie Woodward, age 17, was on Zoloft when she hung herself in her family’s detached garage.
  • Matthew Miller was 13 when he saw a psychiatrist because he was having difficulty at school. The psychiatrist gave him samples of Zoloft. Seven days later his mother found him dead, hanging by a belt from a laundry hook in his closet.
  • Kurt Danysh, age 18, and on Prozac, killed his father with a shotgun. He is now behind prison bars, and writes letters, trying to warn the world that SSRI drugs can kill.
  • Woody ____, age 37, committed suicide while in his 5th week of taking Zoloft. Shortly before his death his physician suggested doubling the dose of the drug. He had seen his physician only for insomnia. He had never been depressed, nor did he have any history of any mental illness symptoms.
  • A boy from Houston, age 10, shot and killed his father after his Prozac dosage was increased.
  • Hammad Memon, age 15, shot and killed a fellow middle school student. He had been diagnosed with ADHD and depression and was taking Zoloft and “other drugs for the conditions.”
  • Matti Saari, a 22-year-old culinary student, shot and killed 9 students and a teacher, and wounded another student, before killing himself. Saari was taking an SSRI and a benzodiazapine.
  • Steven Kazmierczak, age 27, shot and killed five people and wounded 21 others before killing himself in a Northern Illinois University auditorium. According to his girlfriend, he had recently been taking Prozac, Xanax and Ambien. Toxicology results showed that he still had trace amounts of Xanax in his system.
  • Finnish gunman Pekka-Eric Auvinen, age 18, had been taking antidepressants before he killed eight people and wounded a dozen more at Jokela High School – then he committed suicide.
  • Asa Coon from Cleveland, age 14, shot and wounded four before taking his own life. Court records show Coon was on Trazodone.
  • Jon Romano, age 16, on medication for depression, fired a shotgun at a teacher in his New York high school.

Missing from list… 3 of 4 known to have taken these same meds….

  • What drugs was Jared Lee Loughner on, age 21…… killed 6 people and injuring 14 others in Tuscon, Az
  • What drugs was James Eagan Holmes on, age 24….. killed 12 people and injuring 59 others in Aurora Colorado
  • What drugs was Jacob Tyler Roberts on, age 22, killed 2 injured 1, Clackamas Or
  • What drugs was Adam Peter Lanza on, age 20, Killed 26 and wounded 2 in Newtown Ct

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Update on the Deflating Housing Bubble in Toronto


by Wolf Richter, Wolf Street:

Missing Chinese money? Hardest hit is the priciest segment: detached houses.

Home sales in the Greater Toronto Area plunged 35{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in September compared to a year ago, to 6,379 homes. The plunge in volume was spread across all types of homes. Even condos got hit:

  • Detached houses -40.4{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}
  • Semi-detached houses -30.2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}
  • Townhouses -34.4{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}
  • Condos -27.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}.

As total sales plunged, new listings of homes for sale rose 9{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} year-over-year to 16,469, according to the Toronto Real Estate Board (TREB). And the total number of active listings of homes for sale soared 69{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} year-over-year to 19,021.

While Toronto’s housing market is still not drowning in listings, the plunge in sales volume and the surge in listings combined is a major change in market direction. And prices have followed.

The report tried to brim with industry hope: “The improvement in listings in September compared to a year earlier suggests that home owners are anticipating an uptick in sales activity as we move through the fall,” And it grabbed at straws: “Consumer polling undertaken for TREB in the spring suggested that buying intentions over the next year remain strong.”

Alas, “in the spring” – precisely in April – Toronto’s housing bubble peaked with a final and phenomenal melt-up of home prices: The average price had soared 30{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}  year-over-year to C$920,761! And the mood of the housing market was at its most buoyant.

So how did the plunge in volume and the surge in listings impact prices?

The average price of all homes in the Greater Toronto Area, at C$775,546 in September, is down 16{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} from the crazy peak in April. Year over year, the average price is now up only 2.6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}.

That’s a lot of backpedaling from a 30{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} year-over-year increase in April. To cool the housing market euphoria – and the risk it poses to lenders and homeowners – and to put a lid on ballooning affordability issues, the Ontario government introduced a laundry list of measures on April 20, including a 15{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} transfer tax on nonresident foreign speculators. That appears to have done the trick.

What has gotten hit the hardest is the most expensive segment: The market for detached houses. As sales volume plunged 40{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in September, the average price plunged 16{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} from the April peak to C$1.015 million, which is still very high and still makes Toronto one of the most inflated housing bubbles in the world, but it’s now flat year-over-year – after having been up 33.4{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} year-over-year in April.

On the other end of the spectrum, the average condo price in September edged down only 2.1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} from its peak in May to C$520,411 and is still up 23{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} year-over-year.

After the surge in the first seven months of the 12-month period, the growth in average prices by segment still looks mostly positive, but a lot less positive than just a few months ago:

  • Detached: 0{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}
  • Semi-detached: 7.4{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}
  • Townhouse: 7.1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}
  • Condo: 23.2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}

The TREB’s special concoction, the “benchmark price,” fell 0.6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in September from the prior month and is now down 8{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} since May, but is still up 12{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} year over year.

The TREB refuses to publish median selling prices. Median price means half sell for more, half sell for less. It’s one of the standard measures in the US housing market. But the TREB, which has the data, doesn’t want this measure to circulate.

Canadian real estate site Zolo, however, publishes the median price for the Greater Toronto Area, and it’s down 17{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} from the April peak of C$800,000 to C$665,000 in September.

That sales and prices of detached houses – the most expensive segment – have been hit the hardest so far doesn’t necessarily mean that high-income Canadians who can afford to buy these homes have suddenly run into a rough spot. It’s more likely a consequence of the policies by Ontario, announced on April 20, that attempt to tamp down on wild speculation, particularly on speculation by nonresident foreign investors, which in Toronto is largely Chinese money.

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Multiple shooters: not the first time


by Jon Rappoport, No More Fake News:

Update: I have three separate reports that shots were fired through the front door of the Vegas Bellagio Hotel at roughly the same time as the concert shooting, late Sunday. For example:

(Update 2: The video — “YT /watch?v=AKv8KrJBAxg” — has been taken down. If/when it is re-posted on YT, I will update the link.)

(Update 3: Here is the new link: “YT /watch?v=6V_gS9ythDQ”. Some YT key words are “bellagio hotel shooting,” “Rene Downs”)

According to one report, the Bellagio was put on lockdown. I can’t verify the reports with further evidence at this time.

In a crime, multiple shooters often imply political purpose—on the other end of the spectrum from “crazy man acting alone.”

In recent articles (archive here), I’ve been assembling a case for multiple shooters in the Las Vegas mass murder at the concert.

Here is a very brief historic survey of multiple (or other uninvestigated) perpetrators. It’s certainly not meant to be all-inclusive. For instance, I omit 9/11 and the mind-boggling series of egregious lies that continues to this day.

James Holmes, the Colorado theater shooter. 2012. One witness, Corbin Dates (aka Dayton), told Aurora news outlets a man sitting in the front row of the theater took a cell phone call and went to a side exit, propped the door open with his foot, and seemed to be signaling somebody. Ten to 15 minutes later, James Holmes (?) appeared in full gear with weapons as the exit door swung open. Another witness (no name revealed) stated that, during the massacre, a gas canister was thrown from a direction where Homes wasn’t standing. The police brusquely discounted these testimonies.

The Oklahoma City Bombing. 1995. Analysis (my interviews with bomb experts) concluded that the ANFO bomb in the Ryder truck, parked at the curb of the Murrah Federal Building, could not have caused the degree or profile of the damage to the building. The takedown of a portion of the building was far more sophisticated. Tim McVeigh, if he was involved, could not have acted alone.

Robert F Kennedy, assassinated in 1968, in the kitchen of the Ambassador Hotel, in Los Angeles. Suppressed evidence makes it clear that Sirhan Sirhan, the convicted killer, who was standing in front of RFK, did not fire the shots that killed him. Those shots came from behind Kennedy. A count of the number of shots that were heard reveals more shots were fired than Sirhan had in his clip. There was no investigation of a second shooter.

The Martin Luther King murder. 1968. On pages 462 and 463 of The Assassinations, you can read a list of 20 good reasons for doubting and rejecting the official story of James Earl Ray as the killer. The essay is: “Fatal Justice: The Death of James Earl Ray,” by James DiEugenio. Suffice to say, the failed legal struggle to re-retest the rifle Ray supposedly used to kill MLK shows the powers-that-be were determined to keep truth out of the investigation.

John F Kennedy, assassinated in 1963. The House Select Committee on Assassinations (1976-1979) made an excruciating attempt to prove that the “lightning-fast reloading” supposedly achieved by Lee Oswald, as he fired his old rifle, could account for the acoustical evidence of all shots fired at Kennedy in Dallas. The effort failed completely, but the results of clearly unscientific tests were accepted as positive proof of the lone gunman theory. (See The Assassinations, edited by James DiEugenio and Lisa Pease, 2003, published by Feral House, p. 82-84.)

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Getting Schooled in Freedom


by J. Johnson, Miles Franklin:

Hello Silver and Gold holders. I truly appreciate the chance to write for Miles Franklin and hope that you read, learn, and enjoy, the viewpoints from the new writers in our tribe. No one individual has it all down but as a team, we’re able to work thru the articles and news (so called) being pummeled out there by media groups failing at every turn to report anything factual within the financial arenas as well as the Middle American view.

This truly is the topic of freedom in all its aspects and deeper meanings. It’s freedom to share, to ask questions, to hear or read responses from our leaders to those questions, and for “them” to learn what we have to say.  At present none of this is possible under the current form of media, banking, and government, and their obvious collusion’s against the middle. They really seem to have a deep hatred of everything we stand for, including keeping silver and gold in hand and not in their institutions.

Our country was based on freedom of speech, in fact it is the First Amendment because it IS the most important aspect of a free country. Not free stuff, not taking from one to offset the loss of another, but freedom to say what you want in order for others to hear and learn a view.

The First Amendment is being publicly taught right now because it seems apparent that Common Core (thanks to the Dept. of Education) was not interested in teaching the aspects of the term freedom of speech, but only enough data to pass a test, but not the challenges of that freedom. What good is that for our country? Where is the benefit of its outcome? Have we become believers in a paradigm of deceit and think this is OK? I don’t think so and the sports networks are being schooled right now on the expenses of that freedom, and the reaction is not what the planners thought would happen. Lesson learned?

The lessons within our country’s monetary policies are going to make what we are seeing right now with our current sports comedy, look like a group of third graders at practice just barely able to fit into their oversized uniforms let alone catch a ball. Unfortunately, we all know this event is going to happen, and it will affect everybody stuck under an instrument of debt or a negative based currency.

Puerto Rico now has to be completely rebuilt. Infrastructure which includes boat docks, airfields, energy, communications, plumbing, roads, hospitals, all have to be in place before stores, homes or even transportation can be fully utilized. Jobs?? Well if you are in construction, you’re pretty well set, but if you had a job before everything was blown away, you’re now on unemployment, and maybe for a very long time. This is one hell of a mess and it’s not going to be easy or cheap to fix.

Puerto Rico’s debt for all intents and purposes is uncollectable. Will we hear this from what used to be called a news service? No way, instead we’ll get misdirection. Regardless of the lack of main stream media news, we know this is obvious just by looking at the videos of the devastation.

What about insurance companies who take money but don’t manufacture anything? They had to use their clients’ premiums to invest in things in order to stay in place within the investment arenas but now they will have to start to liquidate in order to meet their obligations to their clients. What is that going to do to some or all the markets? It should do a lot of damage to the numbers within the Stock Markets, but all I see right now is the S&P trading higher and no real information or warning that the health of the system may be in trouble.

What about the banks who hold these funds for all these institutions? What is their exposure to all this? Banker’s exposure to insurance troubles has to be huge. Don’t expect much information coming from the likes of main stream media, they are here to hide things and not tell us anything in a fair and balanced format.

The media uses freedom of speech and the rights of the press but they too have failed the American Middle and its views which in turn is a denial of freedom of truth.

Silver and Gold is a form of real freedom too. Especially if it is in the hands of the owner and not an institution. If these institutions can stay afloat after the upcoming liquidation faze, it would be a great (an absolute miracle from God would be more like it) thing. But if one or two insurance companies have written more policies than their incoming premiums can take care of, what will happen to the banks that hold all funds in their midst? Can they use the scariest term out there and claim force majeure?

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Meet the $4 Trillion Market that Donald Trump Just Bitch-Slapped

by Pam Martens and Russ Martens, Wall St On Parade:

According to Federal Reserve statistics, as of the end of the first quarter of this year, the U.S. municipal bond market consisted of $3.8 trillion of debt outstanding with retail investors owning 42 percent of the market. Life insurance companies, property and casualty insurers, banks, mutual funds and foreign buyers are also major holders of municipal bonds.

Municipal bonds have performed well as a class over a century of booms and busts. They came through the Great Depression with an extremely low default rate. General obligation municipal bonds (GOs) are backed by the full faith and credit and taxing power of a jurisdiction like a state or county or city and GOs with AAA ratings are typically viewed as second in safety to issues of the U.S. government.  Municipal bonds issued to finance a project are classified as revenue bonds and are frequently backed just by the revenues of that project, such as a toll bridge.

U.S. states, counties, cities and school districts issue muni bonds to build schools, roads, bridges and other critical infrastructure needs. Municipal bonds are essential to a vibrant U.S. economy and maintaining modern infrastructure and schools across America.

Heretofore, it has been unthinkable that holders of general obligation municipal bonds could be “wiped out” by edict. But during his visit to Puerto Rico on Tuesday, President Donald Trump was interviewed by Geraldo Rivera of Fox News. The interview was broadcast during the Sean Hannity program Tuesday evening. The president stated the following: (See video clip below.)

“You know they owe a lot of money to your friends on Wall Street. We’re gonna have to wipe that out. That’s gonna have to be — you know, you can say goodbye to that. I don’t know if it’s Goldman Sachs but whoever it is, you can wave good-bye to that.”

Puerto Rico is in the midst of a bankruptcy proceeding in Federal Court and is under the supervision of a Federal oversight board. In this situation, it is unprecedented for a sitting president to effectively declare his plan to wipe out its creditors’ claims — off the cuff on a cable news show.

Of particular note, it is not just Wall Street banks who own Puerto Rico debt. As we reported yesterday, mom and pop retail investors are exposed to billions of dollars of potential losses through their holdings of Puerto Rico municipal bonds in Oppenheimer and Franklin tax-free mutual funds, as well as other mutual funds and direct holdings of the muni bonds.

Trump’s comments were immediately felt in the market yesterday with some Puerto Rico GOs plunging to as little as 38 cents on the dollar.

Bankruptcy lawyers are now scratching their heads as to just how the President would be in a position to “wipe out” municipal bond debt. Should such an unprecedented action be attempted, it could undermine confidence in the municipal bond market, thus raising the interest rate needed on new issues to attract future muni bond buyers. This would add an additional burden to already struggling states and municipalities across America. U.S. cities prone to hurricanes and flooding might find it prohibitively costly to issue new muni bonds.

The President has yet to comprehend that his words matter – to the markets and to the lives of average Americans who cannot alternate their lodgings between the White House, a golf resort in New Jersey, a luxury tower in Manhattan or a mansion in Palm Beach.

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The End of Empire – It’s Coming

by Chris Hedges, Russia Insider:

The empire will limp along, steadily losing influence until the dollar is dropped as the world’s reserve currency, plunging the United States into a crippling depression and instantly forcing a massive contraction of its military machine.

The American empire is coming to an end. The U.S. economy is being drained by wars in the Middle East and vast military expansion around the globe. It is burdened by growing deficits, along with the devastating effects of deindustrialization and global trade agreements.

Our democracy has been captured and destroyed by corporations that steadily demand more tax cuts, more deregulation and impunity from prosecution for massive acts of financial fraud, all the while looting trillions from the U.S. treasury in the form of bailouts. The nation has lost the power and respect needed to induce allies in Europe, Latin America, Asia and Africa to do its bidding.

Add to this the mounting destruction caused by climate change and you have a recipe for an emerging dystopia. Overseeing this descent at the highest levels of the federal and state governments is a motley collection of imbeciles, con artists, thieves, opportunists and warmongering generals. And to be clear, I am speaking about Democrats, too.

The empire will limp along, steadily losing influence until the dollar is dropped as the world’s reserve currency, plunging the United States into a crippling depression and instantly forcing a massive contraction of its military machine.

Short of a sudden and widespread popular revolt, which does not seem likely, the death spiral appears unstoppable, meaning the United States as we know it will no longer exist within a decade or, at most, two.

The global vacuum we leave behind will be filled by China, already establishing itself as an economic and military juggernaut, or perhaps there will be a multipolar world carved up among Russia, China, India, Brazil, Turkey, South Africa and a few other states.

Or maybe the void will be filled, as the historian Alfred W. McCoywrites in his book “In the Shadows of the American Century: The Rise and Decline of US Global Power,” by “a coalition of transnational corporations, multilateral military forces like NATO, and an international financial leadership self-selected at Davos and Bilderberg” that will “forge a supranational nexus to supersede any nation or empire.”

Under every measurement, from financial growth and infrastructure investment to advanced technology, including supercomputers, space weaponry and cyberwarfare, we are being rapidly overtaken by the Chinese. “In April 2015 the U.S. Department of Agriculture suggested that the American economy would grow by nearly 50 percent over the next 15 years, while China’s would triple and come close to surpassing America’s in 2030,” McCoy noted.

China became the world’s second largest economy in 2010, the same year it became the world’s leading manufacturing nation, pushing aside a United States that had dominated the world’s manufacturing for a century.

The Department of Defense issued a sober report titled “At Our Own Peril: DoD Risk Assessment in a Post-Primacy World.” It found that the U.S. military “no longer enjoys an unassailable position versus state competitors,” and “it no longer can … automatically generate consistent and sustained local military superiority at range.” McCoy predicts the collapse will come by 2030.

Empires in decay embrace an almost willful suicide. Blinded by their hubris and unable to face the reality of their diminishing power, they retreat into a fantasy world where hard and unpleasant facts no longer intrude. They replace diplomacy, multilateralism and politics with unilateral threats and the blunt instrument of war.

This collective self-delusion saw the United States make the greatest strategic blunder in its history, one that sounded the death knell of the empire—the invasion of Afghanistan and Iraq. The architects of the war in the George W. Bush White House, and the array of useful idiots in the press and academia who were cheerleaders for it, knew very little about the countries being invaded, were stunningly naive about the effects of industrial warfare and were blindsided by the ferocious blowback.

They stated, and probably believed, that Saddam Hussein had weapons of mass destruction, although they had no valid evidence to support this claim. They insisted that democracy would be implanted in Baghdad and spread across the Middle East. They assured the public that U.S. troops would be greeted by grateful Iraqis and Afghans as liberators. They promised that oil revenues would cover the cost of reconstruction.

They insisted that the bold and quick military strike—“shock and awe”—would restore American hegemony in the region and dominance in the world. It did the opposite. As Zbigniew Brzezinskinoted, this “unilateral war of choice against Iraq precipitated a widespread delegitimation of U.S. foreign policy.”

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Round 2: Hungary PM Orban Launches New Offensive Against ‘Mafia’ Boss George Soros

by Joshua Caplan, The Gateway Pundit:

The Hungarian government is set to launch another offensive against liberal billionaire George Soros. Orban’s “national consultation,” will include new billboards and television spots highlighting Soros’ Open Society activities in the country. 

Bloomberg reports;

The Hungarian government has resumed its campaign against Hungarian-American billionaire philanthropist George Soros and his support for migration.

The government’s “national consultation” includes a survey sent to Hungarian households about a so-called “Soros Plan” — which the government says is being carried out by the European Union — as well as billboards and television ads.

Goran Buldioski, director of Soros’ Open Society Initiatives in Europe, says Soros and his foundations support “more coherent and humane policies for helping to resettle migrants fleeing oppression and violence in their homelands” but that “there is no such thing as a global conspiracy against Hungary.”

Soros has been in the news this week as unredacted 2015 tax forms were leaked to the Washington Free Beacon, revealing mega donors to a leading anti-Trump ‘resistance’ group. The usual suspects cut sizable checks to the group, such as George Soros’ The Open Society Foundation and The Ford Foundation, which gave over $2 million.

FOX News reported:

The Free Beacon has obtained the group’s unredacted 2015 tax forms that shed light on its funders, who provide millions of dollars in assistance. The group appears to rely heavily on a few major liberal foundations, organizations, and unions.

The Center for Community Change’s largest contribution was $3,000,000 from the W.K. Kellogg Foundation, which was initially created by Will Kellogg, the food manufacturer and founder of Kellogg Company. The Ford Foundation, which was first created by the founders of the Ford Motor Company, added a $2,350,000 donation. The Open Society Foundation, a foundation run by liberal billionaire mega-donor George Soros, gave $1,750,000 to the Center for Community Change.

Other donors to the organization include the California Endowment, which gave $524,500; the Marquerite Casey Foundation, which gave $515,000; Fidelity Charitable Gift, which donated $505,100; and the National Immigration Law Center, which gave $316,000.

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Michael Moore Calls for Repeal and Replace of ‘Ancient’ 2nd Amendment


by Awr Hawkins, Breitbart:

Documentary filmmaker and left-wing activist Michael Moore urged Congress to pass the 28th Amendment Wednesday, which would repeal and replace the Second Amendment.

In a lengthy Facebook message, Moore said the new amendment would guarantee that “states can have State militias (a.k.a. State National Guards which are made up of citizen-soldiers who are called upon in times of natural disasters or other State emergencies).” It would also allow “individuals to use guns for sport and gathering food” and “guarantees everyone the right to be free of, and protected from, gun violence (i.e., the public’s safety comes ahead of an individual’s right to own and fire a gun).”

Moore proposed language for the new amendment:

A well regulated State National Guard, being helpful to the safety and security of a State in times of need, along with the strictly regulated right of the people to keep and bear a limited number of non-automatic Arms for sport and hunting, with respect to the primary right of all people to be free from gun violence, this shall not be infringed.

The Fahrenheit 9/11 director said the amendment would be implemented with conditions that include banning all “automatic and semiautomatic guns,” while simultaneously requiring that all guns be so-called smart guns — even though smart gun technology-to-date is largely integrated into semiautomatic pistols, which would be banned under the 28th Amendment.

Moore’s amendment would also require strict out-of-home storage requirements for guns. He wrote: “One’s guns must be stored at a licensed gun club or government-regulated gun storage facility. Believing that having a gun in your home provides you with protection is an American myth.”

Considering the process for amending the constitution — as explained in the National Archives — all Moore needs now is a two-thirds vote for his amendment in the House of Representatives and a two-thirds vote in the Senate. After that, he’d need to get 38 out of 50 states to support the repeal of the Second Amendment.

Read More @ Breitbart