Tuesday, March 28, 2023

Corruption

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“Markets Are Wrong”: Hugh Hendry Shuts Down His Hedge Fund; Here Is His Farewell Letter

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from ZeroHedge:

In the beginning, Hugh Hendry was the consummate contrarian bear, which helped him make a killing a decade ago when everyone else was blowing up. Unfortunately for him, he did not realize just how far the central planners were willing to take their monetary experiment, so after the market troughed in 2009, he kept his bearish perspective, which cost him dearly in terms of missed gains and lost capital under management, until one day in November 2013, he capitulated and turned bullish, infamously saying “I cannot look at myself in the mirror; everything I have believed in I have had to reject. This environment only makes sense through the prism of trends.”

Since then, the reborn Hendry who would never again fight central banks, gingerly made his way, earning his single digit P&L…

…. even as many of his formerly loyal LPs deserted the former bear. It culminate with July and August, when Hendry posted some of his worst monthly returns on record which ultimately sealed his fate, and as he writes in a letter sent to investors today, Hendry decided to shut down his Eclectica hedge funds after 15 years, following a 9.8{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} YTD loss and massive redemptions, which left the fund which as recently as a few years ago managed billions with just $30.6 million as of August 31. As he best puts it “It wasn’t supposed to be like this.”

The final P&L:

So what is Hendry’s parting message to his investors and fans? Surprisingly, perhaps, he disavows the original Hugh Hendry, and goes out long (if not quite so strong). Below we repost his full final letter in its entirety, and wish Hendry good luck in his next endeavour.

CF Eclectica Absolute Macro Fund

Manager Commentary, September 2017

What if I was to tell you I wasn’t bearish on anything? Is that something you would be interested in?

It wasn’t supposed to be like this and it is especially frustrating as nothing much has gone wrong with the economy over the summer. If anything we feel more convinced that our thesis of a healing global economy is understated: for the first time in an age all parts of the world are enjoying synchronised economic momentum and I can’t see it ending for some time. It’s just that our substantial risk book became strongly correlated over the short term to the maelstrom of President Trump and the daily news bombs emanating from the Korean Peninsula; that and the increasing regulatory burden which makes it almost impossible to manage small pools of capital today. Like I said, it wasn’t supposed to be like this…

But let me bow out by sharing my team’s views. For the implications of a sustained bout of economic growth are good for you. It’s good because it should continue to underwrite a continuation in the positive performance of global equities. I would stay long. It’s also good because I can’t see interest rates rising abruptly to interrupt the upward path of equities. And commodities have already acknowledged the upturn in the fortunes of the global economy and are likely to trend higher still. That’s a lot of good news.

But it is bad news for me because funds like mine are required to demonstrate negative correlation with risk assets (when they go up like this I go down…), avoid large drawdowns and post consistent high risk adjusted returns.

Oh, and I forgot, macro fund clients don’t like us investing in the stock market for the understandable fear that we concentrate their already considerable risk undertaking. That proved to be an almighty puzzle for a fund like mine that has been proclaiming the stock market as a “safe-ish” bet ever since 2013.

Let me explain the “markets are wrong and we boom now” argument. To begin with, and for the sake of clarity, I think we have to carefully go back and deconstruct the volatile engagement between capital markets and central banks for the last ten years for an understanding of where we stand today.

The first die was cast by the central bankers in early 2009: having stared into the abyss of a deflationary spiral in 2008 the Fed and the BoE announced a radical new policy of bond purchases named Quantitative Easing. The bond market hated the idea as it was expected to cause a severe inflation problem.

Thankfully Bernanke, a student of the great depression knew better.

Markets primed themselves for inflation yet even with a ripping stock market in 2009/10 they were disappointed. QE rescued the financial system but the liquidity created was distributed to the very rich who have a very low monetary velocity and so the expected inflation fillip never materialised as the liquidity injection came to be stored rather than multiplied by the banking system.

Several years later, in 2013, the Fed suggested a reduction in the pace of its QE program. They wanted to tighten credit conditions gradually. However, capital markets beat them to it and the ensuing “taper tantrum” tightened monetary policy on their behalf. Within four months the market had taken 10 year treasuries from a yield of 1.6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} to 2.9{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, a move of far greater impact, and much more rapid, than anything the Fed had contemplated doing.

Markets initially thought the US could cope with this higher level of rates, but with a slowing economy, an unfortunately-timed oil price crash, and persistent ghosts in the machine (like the substantial Yuan devaluation fear which never materialised) they were proven wrong. Back then, with a 7.6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} national unemployment rate and tepid wage inflation, this tightening always looked a little premature to us and so it proved with the rate of price inflation inevitably sliding lower to present levels.

And so last year, following many years of berating the Fed for its easy monetary policy regime, investors collectively threw in the towel. This rejection of the basic tenets of the business cycle by those who direct the huge pools of real money is proving particularly onerous to attack as it seems that the basic macro fund model is broken: there are just not enough “coins in them pirates’ chests” to challenge the navy of this flawed real money doctrine. Managers, and I must count myself in this camp, feel compromised by our poor absolute returns since 2012 and we find ourselves unable to put up much resistance to this FAKE NEWS.

Why should you fight it? Well let’s look at the last few times American unemployment dipped below 4.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} like today. I would largely ignore 2000 and 2006 when monetary policy was tightened and the economy buckled under the duress of the dramatic reversal in what had been credit fuelled misallocations of capital in the TMT and property sectors. No, for me 1965 is far more illuminating. Then, like today, there was no epic bubble or set of circumstances whose reversal could cause a slump; people forget but recessions don’t come out of thin air. No, in 1965, economic growth got choked by a tight labour market; a market as ominously tight as today’s.

In the middle of 1964, CPI core inflation was running at 1.7{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} and indeed dropped to just 1.2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in 1965; unemployment was 4.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, the same as today. And yet by the end of 1966 inflation had essentially got out of control and didn’t dip below 2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} again until 1995, almost 30 years later.

Read More @ ZeroHedge.com

Swedish Police May Have to Release Murder Suspect Because They Can’t Find an Interpreter

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by Chris Tomlinon, Breitbart:

Swedish police may have to release a 15-year-old suspected of killing a 17-year-old earlier this week by stabbing him to death because they are unable to find a translator for him.

The 15-year-old who is accused of the stabbing may have to be released from police custody Wednesday because they are unable to find someone who can make him understand the charges and present him in front of a judge.

The Swedish police can only hold a suspect for a limited period unless a judge decides to extend the arrest, but without representation through an interpreter the process has stalled, Sydsvenskan reports.

Martin Persson, a councillor at Helsingborg’s District Court, said: “Two of the district court employees have spent the entire day seeking an interpreter through all possible interpreting agencies and other channels. But we simply have not managed to find an interpreter.”

The 15-year-old migrant is accused of stabbing a 17-year-old fellow asylum seeker to death at a locker room in a local gym. Police supervisor Karim Ottosson said the two came into conflict for an unknown reason and the 15-year-old attacked the older asylum seeker with a knife.

The 17-year-old died of his injuries on Monday but the 15-year-old has denied the charges according to his lawyer Olof Wettermark. Despite the denial, police say they have interviewed several witnesses to the murder who claim the 15-year-old stabbed the victim repeatedly.

Read More @ Breitbart.com

JUDICIAL WATCH: NEW CLINTON EMAILS UNCOVERED, REVEAL ADDITIONAL MISHANDLING OF CLASSIFIED INFORMATION

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from Judicial Watch, via Infowars:

Documents also show more instances of pay to play with Clinton Foundation donors

Judicial Watch today released 1,617 new pages of documents from the U.S. Department of State revealing numerous additional examples of classified information being transmitted through the unsecure, non-state.gov account of Huma Abedin, former Secretary of State Hillary Clinton’s deputy chief of staff, as well as many instances of Hillary Clinton donors receiving special favors from the State Department.

The documents included 97 email exchanges with Clinton not previously turned over to the State Department, bringing the known total to date to at least 627emails that were not part of the 55,000 pages of emails that Clinton turned over, and further contradicting a statement by Clinton that, “as far as she knew,” all of her government emails had been turned over to department.

The emails are the 20th production of documents obtained in response to a court order in a May 5, 2015, lawsuit Judicial Watch filed against the State Department (Judicial Watch, Inc. v. U.S. Department of State (No. 1:15-cv-00684)). Judicial Watch sued after State failed to respond to a March 18, 2015, Freedom of Information Act (FOIA) request seeking: “All emails of official State Department business received or sent by former Deputy Chief of Staff Huma Abedin from January 1, 2009 through February 1, 2013 using a non-‘state.gov’ email address.”

On September 11, 2009, the highly sensitive name and email address of the person giving the classified Presidential Daily Brief was included in an email forwarded to Abedin’s unsecure email account by State Department official Dan Fogerty.

The State Department produced many more Clinton and Abedin unsecured emails that were classified:

  • On April 16, 2009, Deputy Assistant Secretary Jeffrey Feltman sent to Abedin’s unsecure email account classified information about an unknown subject.
  • On June 18, 2009, Abedin sent classified information summarizing a June 18, 2009, “Middle East Breakfast” meeting between various senators, representatives and State Department officials, at which Deputy Secretary Jack Lew and George Mitchell briefed the congressmen with “an update on our discussions with the [Middle East] parties.”
  • On June 23, 2009, U.S. diplomat Martin Indyk, who had his security clearance suspended in 2000 for “possible sloppiness” in the handling of classified information, sent a memo containing classified information to Abedin’s unsecure email account.  The memo, written for Clinton, pertained to Indyk’s discussions with top Israeli officials:

Could I ask you to review the memo below that I wrote yesterday on my return from Israel?  If you think it worthwhile, I’d be very grateful if you showed it to HRC (I have already shared it with Mitchell and Feltman). A confrontation with Bibi appears imminent.  I’ve never been one to shy away from that, as she may know.  But it has to be done carefully, and that doesn’t appear to be happening.  And I’m concerned that she will be tarred with the same brush if this leads to a bad end.  So I think she needs to make sure that the friction is productive.  I’ve made some suggestions at the end of the memo

  • On August 1, 2009, Abedin forwarded classified information from State Department official Richard Verma to her unsecure email account.  The email from Senator Russ Feingold was sent to Hillary Clinton regarding her upcoming Africa trip.
  • On August 4, 2009, Assistant Secretary Jeffrey Feltman sent classified information about discussions with Kuwaiti officials to Abedin’s unsecure email account.  Feltman noted that the Kuwaitis felt a lunch they had with Obama was “chilly.”  The discussions concerned Guantanamo as well as Kuwait’s treatment of detainees.
  • On Sept 20, 2009, Abedin forwarded classified information to her unsecure email account. The email was from State Department official Esther Brimmer and concerned foreign leaders’ discussions regarding a UNESCO leadership appointment.
  • On November 1, 2009, U.S. Ambassador to the UAE Rick Olson sent classified information to Abedin’s unsecure email account. The email shows that Olsen was traveling with Hillary in the Middle East, and Abedin asked him to “work on a list of everything covered in the mbz [presumably Mohammed bin Zayed bin Sultan Al-Nahyan, the Crown Prince of Abu Dhabi] meeting for Hillary.” Olson asks: “do you want it on this system (I can sanitize), or on the other system.” She replies: “This system easier. We are staying without class[ified] computers. Thx.”
  • On December 1, 2009, Abedin sent classified information about foreign military contributions to the Afghanistan war effort to her unsecure email account. The email originated with State official Sean Misko who wrote to Deputy Chief of Staff Jake Sullivan that he first “accidentally” sent it on the “high side” (secure) but was resending.
  • On December 25, 2009, Abedin sent to her unsecure email account classified information prepared by Deputy U.S. Ambassador to Afghanistan Francis Ricciardone concerning the Afghan elections.
  • On December 26, 2009, U.S. Ambassador to Mexico Carlos Pascual sent a memo to Clinton, which was found on Abedin’s unsecure email account. It contained extensive classified information involving U.S. and Mexican counter-drug operations in Mexico.
  • On March 22, 2010, Abedin forwarded to her unsecure email account classified information about a telephone conversation between President Obama and Mexican President Felipe Calderon.
  • On April 13, 2010, Abedin forwarded to her unsecure email account classified information from Ambassador Jeffrey Feltman regarding diplomatic discussions with the foreign ministers of Algeria and Morocco.
  • On May 24, 2010, Abedin forwarded to her unsecure email account classified information about the minutes of a State Department senior staff meeting regarding State Department officials’ meetings in Uganda.
  • Among Abedin’s unsecure email records is a document that is simply titled “NOTE” with the date September 12, 2010. The contents are entirely redacted as classified.
  • On January 28, 2011, Abedin sent Clinton an unsecure email containing classified information relating to a briefing White House Press Secretary Robert Gibbs gave.
  • On March 21, 2012, Clinton received a memo from State Department officials Joseph Yun and Derek Mitchell marked “Sensitive But Unclassified” and sent to Abedin’s unsecure email account. It contained classified information about elections in Burma.
  • Jake Sullivan emailed to Hillary’s unsecure email account classified information in which Sullivan discussed the content of conversations with UK Prime Minister Gordon regarding “the situation” in Northern Ireland. The date of this email is not included on the document.
  • On April 8, 2012, Abedin sent classified information to her unsecure email regarding a call sheet and an “Action Memo” for Clinton relating to a call with Malawi President Joyce Banda. On April 9, 2012, Monica Hanley again forwarded the classified information to Clinton’s unsecure email account.

Other emails contain sensitive information that was sent via Hillary Clinton’s unsecure email servers.

On August 18, 2009, confidential assistant Monica Hanley provided Abedin with laptop and fob (a physical device that provides a login code) logins and passwords to log onto a laptop, as well as a secure State Department website at https://one.state.gov. Included were a PIN number and instructions on how to access her email from the secure State Department website. Abedin forwarded this information to her unsecure account.

Read More @ Infowars.com

A “Contagious” Bluetooth Flaw Makes ALL Your Connected Devices Hackable

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by Daisy Luther, The Organic Prepper:

In case you don’t have enough to worry about with hackers getting into our power grids, cyber attacks taking down entire countries, and epic natural disasters, a newly discovered Bluetooth flaw makes nearly all devices that are connected subject to hackers.

Tech Republic reports:

BlueBorne is an attack vector that could affect billions of devices. If you’re running IoS, Android, Windows, and even Linux, your devices could be at risk.

Using BlueBorne, hackers can attack Bluetooth-connected devices over the air, without the device even being paired to the attacker’s device, the post said. Once successfully penetrated, the attacker gains full control over the victim’s device.

So far, Armis Labs has identified eight zero-day vulnerabilities associated with BlueBorne. However, as noted in the post, the firm believes there could be “many more” vulnerabilities waiting to be discovered. BlueBorne can conduct remote code execution and Man-in-The-Middle attacks, for example…

Because BlueBorne is airborne, and can spread from device to device, it is considered “highly infectious” by the researchers. It’s airborne nature also means that it is often targeting the weakest spot in the defense strategy for most modern networks…

The method through which BlueBorne spreads allows it to infect air-gapped networks as well, which was a major concern for the researchers. Additionally, it takes minimal effort on behalf of the attacker, requires no victim interaction, and can remain undetected in many systems…(source)

This makes all of your connected devices vulnerable to cyber espionage, data theft, and ransomware. If your passwords are saved for your bank or credit accounts, you can be easily hacked due to this vulnerability. Anything on your devices is under the control of the hackers.

The report by Armis Security calls this a “comprehensive and severe threat.”

The BlueBorne attack vector requires no user interaction, is compatible to all software versions, and does not require any preconditions or configurations aside of the Bluetooth being active. Unlike the common misconception, Bluetooth enabled devices are constantly searching for incoming connections from any devices, and not only those they have been paired with. This means a Bluetooth connection can be established without pairing the devices at all. This makes BlueBorne one of the most broad potential attacks found in recent years, and allows an attacker to strike completely undetected. (source)

These devices have the potential to be hacked with the Bluetooth flaw

Armis warns that the following devices could be hacked with BlueBorne. And warning, it’s nearly every device out there.

Android

All Android phones, tablets, and wearables (except those using only Bluetooth Low Energy) of all versions are affected by four vulnerabilities found in the Android operating system, two of which allow remote code execution (CVE-2017-0781 and CVE-2017-0782), one results in information leak (CVE-2017-0785) and the last allows an attacker to perform a Man-in-The-Middle attack (CVE-2017-0783).

Examples of impacted devices:

  • Google Pixel

  • Samsung Galaxy

  • Samsung Galaxy Tab

  • LG Watch Sport

  • Pumpkin Car Audio System

Google has issued a security update patch and notified its partners. It was available to Android partners on August 7th, 2017, and made available as part of the September Security Update and Bulletin on September 4, 2017. We recommend that users check that Bulletin for the latest most accurate information. Android users should verify that they have the September 9, 2017 Security Patch Level,Note to Android users: To check if your device is at risk or is the devices around you are at risk, download the Armis BlueBorne Scanner App on Google Play.

Windows
All Windows computers since Windows Vista are affected by the “Bluetooth Pineapple” vulnerability which allows an attacker to perform a Man-in-The-Middle attack (CVE-2017-8628).

Microsoft issued has security patches to all supported Windows versions on July 11, 2017, with coordinated notification on Tuesday, September 12. We recommend that Windows users should check with the Microsoft release at here for the latest information.

Linux
Linux is the underlying operating system for a wide range of devices. The most commercial, and consumer-oriented platform based on Linux is the Tizen OS.

  • All Linux devices running BlueZ are affected by the information leak vulnerability (CVE-2017-1000250).

  • All Linux devices from version 3.3-rc1 (released in October 2011) are affected by the remote code execution vulnerability (CVE-2017-1000251).

Examples of impacted devices:

  • Samsung Gear S3 (Smartwatch)

  • Samsung Smart TVs

  • Samsung Family Hub (Smart refrigerator)

Information on Linux updates will be provided as soon as they are live.

iOS
All iPhone, iPad and iPod touch devices with iOS 9.3.5 and lower, and AppleTV devices with version 7.2.2 and lower are affected by the remote code execution vulnerability. This vulnerability was already mitigated by Apple in iOS 10, so no new patch is needed to mitigate it. We recommend you upgrade to the latest iOS or tvOS available.

If you are concerned that your device may not be patched, we recommend disabling Bluetooth, and minimizing its use until you can confirm a patch is issued and installed on your device. (source)

Read More @ TheOrganicPrepper.ca

Secret Reagan Documents Shed Light on US Manipulation of Foreign Governments

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by Robert Parry, The Anti Media:

“Secret” documents from the Reagan administration show how the U.S. embedded “political action,” i.e., the manipulation of foreign governments, in ostensibly well-meaning organizations, reports Robert Parry.

(CN) — “Secret” documents, recently declassified by the Reagan presidential library, reveal senior White House officials reengaging a former CIA “proprietary,” The Asia Foundation, in “political action,” an intelligence term of art for influencing the actions of foreign governments.

The documents from 1982 came at a turning-point moment when the Reagan administration was revamping how the U.S. government endeavored to manipulate the internal affairs of governments around the world in the wake of scandals in the 1960s and 1970s involving the Central Intelligence Agency’s global covert operations.

Instead of continuing to rely heavily on the CIA, President Reagan and his national security team began offloading many of those “political action” responsibilities to “non-governmental organizations” (NGOs) that operated in a more overt fashion and received funding from other U.S. government agencies.

But secrecy was still required for the involvement of these NGOs in the U.S. government’s strategies to bend the political will of targeted countries. If the “political action” of these NGOs were known, many countries would object to their presence; thus, the “secret” classification of the 1982 White House memos that I recently obtained via a “mandatory declassification review” from the archivists at the Reagan presidential library in Simi Valley, California.

In intelligence circles, “political action” refers to a wide range of activities to influence the policies and behaviors of foreign nations, from slanting their media coverage, to organizing and training opposition activists, even to setting the stage for “regime change.”

The newly declassified memos from the latter half of 1982 marked an ad hoc period of transition between the CIA scandals, which peaked in the 1970s, and the creation of more permanent institutions to carry out these semi-secretive functions, particularly the National Endowment for Democracy (NED), which was created in 1983.

Much of this effort was overseen by a senior CIA official, Walter Raymond Jr., who was moved to Reagan’s National Security Council’s staff where he managed a number of interagency task forces focused on “public diplomacy,” “psychological operations,” and “political action.”

Raymond, who had held top jobs in the CIA’s covert operations shop specializing in propaganda and disinformation, worked from the shadows inside Reagan’s White House, too. Raymond was rarely photographed although his portfolio of responsibilities was expansive. He brought into his orbit emerging “stars,” including Lt. Col. Oliver North (a central figure in the Iran-Contra scandal), State Department propagandist (and now a leading neocon) Robert Kagan, and NED President Carl Gershman (who still heads NED with its $100 million budget).

Despite his camera avoidance, Raymond appears to have grasped his true importance. In his NSC files, I found a doodle of an organizational chart that had Raymond at the top holding what looks like the crossed handles used by puppeteers to control the puppets below them. The drawing fit the reality of Raymond as the behind-the-curtains operative who controlled various high-powered inter-agency task forces.

Earlier declassified documents revealed that Raymond also was the conduit between CIA Director William J. Casey and these so-called “pro-democracy” programs that used sophisticated propaganda strategies to influence not only the thinking of foreign populations but the American people, too.

This history is relevant again now amid the hysteria over alleged Russian “meddling” in last year’s U.S. presidential elections. If those allegations are true – and the U.S. government has still not presented any real proof  – the Russian motive would have been, in part, payback for Washington’s long history of playing games with the internal politics of Russia and other countries all across the planet.

A Fight for Money

The newly released memos describe bureaucratic discussions about funding levels for The Asia Foundation (TAF), with the only sensitive topic, to justify the “secret” stamp, being the reference to the U.S. government’s intent to exploit TAF’s programs for “political action” operations inside Asian countries.

Indeed, the opportunity for “political action” under TAF’s cover appeared to be the reason why Reagan’s budget cutters relented and agreed to restore funding to the foundation.

William Schneider Jr. of the Office of Management and Budget wrote in a Sept. 2, 1982 memo that the Budget Review Board (BRB) had axed TAF funding earlier in the year.

“When the BRB last considered this issue on March 29, 1982, it decided not to include funding in the budget for a U.S. Government grant to TAF. The Board’s decision was based on the judgement that given the limited resources available for international affairs programs, funding for the Foundation could not be justified. During that March 29 meeting, the State Department was given the opportunity to fund TAF within its existing budget, but would not agree to do so.”

However, as Schneider noted in the memo to Deputy National Security Advisor Robert McFarlane, “I now understand that a proposal to continue U.S. funding for the Asia Foundation is included in the ‘political action’ initiatives being developed by the State Department and several other agencies.

“We will, of course, work with you to reconsider the relative priority of support for the Foundation as part of these initiatives keeping in mind, however, the need for identifying budget offsets.”

A prime mover behind this change of heart appeared to be Walter Raymond, who surely knew TAF’s earlier status as a CIA “proprietary.” In 1966, Ramparts magazine exposed that relationship and led the Johnson administration to terminate the CIA’s money.

According to an April 12, 1967 memo from the State Department’s historical archives, CIA Director Richard Helms, responding to a White House recommendation, “ordered that covert funding of The Asia Foundation (TAF) shall be terminated at the earliest practicable opportunity.”

In coordination with the CIA’s “disassociation,” TAF’s board released what the memo described as “a carefully limited statement of admission of past CIA support. In so doing the Trustees sought to delimit the effects of an anticipated exposure of Agency support by the American press and, if their statement or some future expose does not seriously impair TAF’s acceptability in Asia, to continue operating in Asia with overt private and official support.”

The CIA memo envisioned future funding from “overt U.S. Government grants” and requested guidance from the White House’s covert action oversight panel, the 303 Committee, for designation of someone “to whom TAF management should look for future guidance and direction with respect to United States Government interests.”

Read More @ TheAntiMedia.com

Lead Fraudster Of Fraudulent JP Morgan Says Bitcoin Is A Fraud?

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by Jeff Berwick, The Dollar Vigilante:

Bitcoin and virtually all of the cryptocurrencies have had a very sizeable, and much needed and expected pullback this week.

There have been two main focal points for the pullback.

Rumors and speculation of a Chinese government attack against the free market have caused most of the consternation.

But, secondly, and most laughably, were comments from Jamie Demon (they spell it Dimon so as to not be too obvious about his backing), the lead fraudster of the virulently fraudulent company, JP Morgan, who said that bitcoin is a “fraud!”

This, coming from a man whose entire industry, of banking, is based on the fraud of fractional reserve banking which is only made “legal” by the fraud of government which is based solely on extortion, which they call taxation.

And, based on a currency, which is created by the fraudulent Federal Reserve which is a central bank which is a tenet of communism and is an outright ponzi scheme whose sole purpose is to impoverish nearly everyone in society and to enrich the 0.00001{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}.

So, to have Jamie Demon say that bitcoin, which is just math, is a fraud, comes at the height of incredulity.

Not to mention, this is no different than the CEO of Barnes and Noble calling Amazon.com a fraud for the pure fact that it has technologically innovated Barnes and Noble into the dustbin of history… as bitcoin, or at least cryptocurrencies, as a whole, will soon relegate central banking and fiat currencies.

Just look at the US dollar from the cryptocurrencies point of view and you can see that it is the Federal Reserve Note, not bitcoin, which is the fraud.

If the US dollar were a cryptocurrency it would be the one called the fraud.

The US dollar has/is:

No max cap. In other words, it can be inflated to infinity… as opposed to bitcoin which has a hard limit of 21 million bitcoins that will ever be created.

Pre-mined. One of the death knells of a cryptocurrency is that it is pre-mined. In general, this means that the creators of the currency create the currency and give it to themselves before allowing others to purchase it. This is the height of fraud in the cryptocurrency space but this how all US dollars are created. They are pre-mined by the Federal Reserve before they are allowed to “trickle down” to the rest of us poor slaves.

No transparency. Unlike bitcoin, the US dollar has very little transparency as to where it came from and which potentially criminal organization, like the US federal government, IRS or any of the other three letter agencies it has flowed through.

Not backed by cryptography. While bitcoin and all cryptocurrencies have proof of ownership through very secure cryptography the owner of “dollars” can be anyone who is friends with the Federal Reserve.

Not open source. Unlike bitcoin, which anyone in the world can review their code, the dollar is not open source and therefore all manner of fraud can be perpetrated in the system.

You don’t control your private keys. With bitcoin and other cryptocurrencies you hold complete control of your currency by holding your private keys. With dollars, any criminal government agency or the central bank can take control of your dollars at any time.

Not voluntary. While using and owning bitcoin is completely voluntary, usage and acceptance of US dollars are backed by violence. If you do not accept dollars you can and will be kidnapped and thrown in a cage. Should you try to escape you most likely will be killed.

So, which currency is the “fraud” again?

Or is it more likely that Jamie sees bitcoin as a serious risk to his criminal business model?

After all, JP Morgan filed a patent – which is also a criminal act to use violence against others using your ideas – for a “bitcoin killer” competitor to bitcoin in 2013.

Things aren’t going all that well for the US dollar, after all. Year-to-date, this has been the worst performance for the US dollar from January to September since 1986.

Read More @ TheDollarVigilante.com

The Solution To Content Creation Censorship – Steve St Angelo Interview

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from CrushTheStreet:

Chris Powell: Gold Schemes, Journalist and Freedom

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from The Daily Coin:

Hanging with Harley (09/14/2017)

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from Rogue Money:

New 9/11 Lawsuit Strongly Implicates Saudi Government Involvement

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from Dave Hodges, The Common Sense Show:

David Eisenbach, a Columbia University professor, said he will submit an amicus brief in a lawsuit filed by families of people killed in the World Trade Center attacks on Sept. 11, 2001.

New evidence in a 9/11 lawsuit against the government of Saudi Arabia alleges the kingdom’s embassy in Washington, DC, may have funded a test run for the deadly attacks in 2001, according to the New York Post.  Sean Carter, the lead attorney for the 9/11 plaintiffs, stated wihtout hesitation, “We’ve long asserted that there were longstanding and close relationships between al Qaeda and the religious components of the Saudi government.”

Additionally the NY Post is reporting the following:

“…Two years before the airliner attacks, the Saudi Embassy paid for two Saudi nationals, living undercover in the US as students, to fly from Phoenix to Washington “in a dry run for the 9/11 attacks,” alleges the amended complaint filed on behalf of the families of some 1,400 victims who died in the terrorist attacks 16 years ago.

The court filing provides new details that paint “a pattern of both financial and operational support” for the 9/11 conspiracy from official Saudi sources, lawyers for the plaintiffs say. In fact, the Saudi government may have been involved in underwriting the attacks from the earliest stages — including testing cockpit security…”

“…Citing FBI documents, the complaint alleges that the Saudi students — Mohammed al-Qudhaeein and Hamdan al-Shalawi — were in fact members of “the Kingdom’s network of agents in the US,” and participated in the terrorist conspiracy.

They had trained at al Qaeda camps in Afghanistan at the same time some of the hijackers were there. And while living in Arizona, they had regular contacts with a Saudi hijacker pilot and a senior al Qaeda leader from Saudi now incarcerated at Gitmo. At least one tried to re-enter the US a month before the attacks as a possible muscle hijacker but was denied admission because he appeared on a terrorist watch list….”

The NY Post further went on to report that two Saudis conducted a dry run of how to hijack a plane on a flight from Phoenix to Washington DC. The two men were also in constant contact with the elements and agencies of the Saudi government:

“…Qudhaeein and Shalawi both worked for and received money from the Saudi government, with Qudhaeein employed at the Ministry of Islamic Affairs. Shalawi was also “a longtime employee of the Saudi government.” The pair were in “frequent contact” with Saudi officials while in the US, according to the filings…”

I have reviewed more transcripts from the press releases coming from the plantiffs attorneys. The evidence, as represented by the summary evidence presented in this article appears strong. However, I have very little faith in the judicial process in this country because Obama appointed judge after judge that has expressed extreme disdain for the United States and its laws.

Even if the court case is successful in implicating the Saudi government in the 9/11 attacks, this does not explain away the apparent cover-up of the United States government, as directed by the Bush administration in which key evidence was ignored or tainted.

The Complicity of the Bush Administration in the 9/11 Attacks

A general historical rule of thumb states that one cannot judge the true implications of landmark events for 20 years following the event. History has indeed demonstrated that a culture is not a good judge of its own immediate history. With regard to the events of 9/11, we are over half way through this historical prohibition related to the judging the significance of a landmark event. However, a clear and unmistakable pattern is beginning to take shape. And that pattern points to a government who continues to lie about the events of 9/11. I want answers and I want them now!

Read More @ TheCommonSenseShow,com

Security Contractors: Clinton State Dept. Silenced Us On Benghazi Security Lapses

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by Tim Brown, Freedom Outpost:

Two men from security contractor Advanced Enterprise Solutions said that they were told to be quiet by a bureaucrat under the direction of then Secretary of State Hillary Clinton about the lapse in security of the Benghazi compound that occurred prior to and on the night of September 11, 2012.

In an exclusive interview with Fox News, Brad Owens and Jerry Torres, of Torres Advanced Enterprise Solutions, told Catherin Herridge they faced pressure to stay silent and get on the same page with the State Department with regard to the security lapses that led to the deaths of four Americans.

Take a look at the interviews.

Fox News reports:

Torres Advanced Enterprise Solutions provides security for U.S. Embassy and consulate personnel around the world in some of the most dangerous locations spanning Africa, the Middle East and South America, according to the firm.

Jerry Torres remains haunted by the fact that specific bureaucrats and policies remain in the State Department after the Benghazi attack despite the change in administrations. “A U.S. ambassador is dead and nobody is held accountable for it. And three guys … all died trying to defend him,” said Torres, the company’s CEO and a former Green Beret.

Asked if there was a specific effort by a senior State Department contracting officer to silence them, Torres said, “Absolutely, absolutely.”

…

Based on documents reviewed by Fox News, Torres Advanced Enterprise Solutions bid on the Benghazi compound security contract in the spring of 2012. But the State Department awarded the deal to a U.K.-based operation called The Blue Mountain Group.

Owens, who had personally visited the Benghazi compound to assess security, was shocked. “Blue Mountain U.K. is a teeny, tiny, little security company registered in Wales that had never had a diplomatic security contract, had never done any high threat contracts anywhere else in the world that we’ve been able to find, much less in high threat areas for the U.S. government. They had a few guys on the ground,” he said.

According to Torres, the Blue Mountain Group came in 4 percent lower than their bid – and they challenged the decision, claiming the American company should have been preferred over the foreign one.

What’s even more interesting is that The Blue Mountain Group hired guards through another company who weren’t even armed.

Torres said State Department contracting officer Jan Visintainer told him “in her opinion, that guards should not be armed at U.S. embassies. She just made that blanket statement. … And she said that they weren’t required in Benghazi. So I was kind of confused about that. And she said that she would like my support in saying that if that came up. And I looked at her. I just didn’t respond.”

Read More @ FreedomOutpost.com

Red China is a Creation of Globalists

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by James Hall, The Sleuth Journal:

If one is blind to the truthful account of history, understanding of current events will never break the mind controlled barrier of sanitized awareness. The globalists or whatever synonym name you choose personifies the forces behind the screens that shape the political, economic and cultural impositions on the world. China has not been immune to the infliction of obscurity in the implementation of what actually is driving their regime.  As the old Chinese curse has it: “May you live in interesting times”, has proven to be much more than a platitude, it is a model for planetary enslavement. How did this conquest begin and where is it going?

In a special report by Texe Marrs, The Illuminati and Its Triad of Evil presents a credible account that most have never confronted before.

“Another revelation that U.S.A. and western journalists and historians are prohibited from writing about concerns the Jewish origins of Mao Tse Tung’s Red Chinese revolution. In fact, Mao was a stupid and inept Chinese peasant who was schooled by Skull and Bonesmen and initiated into the internationalist Masonic Lodge by socialist Jews from the United States. This was done with the tacit permission of President Franklin D. Roosevelt, a 32nd degree Mason and, later, President Harry S. Truman a 33rd degree Mason.

Mao all along has been a closely-controlled puppet of Jewish revolutionaries—men like Israel Epstein and Sidney Shapiro, who lived in China and had the reins of power over two key areas of Beijing’s Communist Government—the treasury (money) and the media (propaganda). Interestingly, Zionist Jews hold sway over these same two essential instruments of government today in the United States.”

An additional source explaining that Communist China was created by Rothschilds and their agents, presents an even more sinister chronology of the New World Order plan to extend their rule.

“October 1 1949, Mao Tse Tsung declared the founding of the People’s Republic of China in Tiananmen Square, Beijing. He was funded by Rothschild created Communism in Russia and also the following Rothschild agents: Solomon Adler, a former United States Treasury official who was a Soviet Spy; Israel Epstein, the son of a Jewish Bolshevik imprisoned by the Tsar in Russia for trying to ferment a revolution there; and Frank Coe, a leading official of the Rothschild owned IMF. Jews were behind the rise to power of Mao Tse Tung, the communist dictator of China, who tortured and murdered tens of millions of Chinese (mostly Christians) during his brutal reign. Sidney Shapiro, an American Jew, was in charge of China’s propaganda organ. Another Jew, Israel Epstein, was Mao’s Minister of Appropriations (Finance).

Mao would murder sixty million innocent Chinese people under his rule mainly to destroy traditional Chinese culture in order to gain total control. As with Christianity, any practitioners of spiritual systems where outlawed, killed, and thrown into gulags, to die a slow death through slave labor, starvation and torture. The Communistic systems became the new culture of control. With China under their flag, Tibet was next on the list as being the last bastion of spiritual and historical knowledge. All the Jewish systems seek to remove spiritual knowledge from Gentiles and keep it in the hands of the Jewish elite. This is a major part of their indoctrination program. There has been a major Jewish population in China for over a thousand years such as the Jews of Kaifeng.”

If these authorships do not provide the weight of trustworthiness for your worldview, maybe the admittance from the flagship of the establishment narrative would convince the faint hearted. In an official history of the Council on Foreign Relations, the CFR’s Peter Grose explains CHINA’S GLOBALIST AGENDA.

“The Council turned in earnest to the problem of communist China early in the 1960s. Various Council publications had started developing the idea of a ‘two-China’ policy – recognition of both the Nationalist government of Taiwan and the communist government on the mainland. This, Council authors suggested, might be the least bad policy direction. Professor A. Doak Barnett published a trail-blazing book for the Council in 1960, Communist China and Asia. A major Council study of relations between the United States and China commenced in 1964, the year China exploded its first nuclear bomb; the group met systematically for the next four years. “Contentment with the present stalemate in relations with the Chinese is not statesmanship,” declared Robert Blum of the Asia Society, the first director of the project. “American impatience and the strong currents of political emotion often make it impossible to plan ahead to manage our policy in a persevering but flexible way.’” (Peter Grose, Continuing The Inquiry: The Council on Foreign Relations from 1921 to 1996, New York, Council on Foreign Relations, 2006; ‘ ‘X’ Leads the Way’).

Oh such a noble concept, Statesmanship. In any other reality the translation means consolidation into the global order of human bondage. The nature of the Chinese regime is based upon totalitarianism. An unholy union with the mega corporatists has produced the biggest economic transfer of all times into a Communist reign of terror model for the future of all humanity.

Preston James, PhD writes in The Hidden History of the Incredibly Evil Khazarian Mafia. “The opium addictions created by Rothschild opium sales to China harmed China so much that China went to war on two occasions to stop it. These wars were known as the Boxer Rebellions or the Opium Wars.”

The sour taste of foreign intervention into internal Chinese affairs caused a blowback. St. John Bartholomew explicates in Colonial Elite Rules China for the Illuminati.

“Beijing -The Chinese elite is a merger between the Communist leadership, Hong Kong tycoons, and the criminal Triads. All three factions derive their power from Illuminati collaboration.

China has appeared autonomous because the Illuminati developed the country internally, funding ‘revolutionary’ political parties spouting nationalist slogans. The reasoning was that the Chinese people would revolt against overt foreign domination, but embrace their place in the NWO if they believed they were in control.

Lord Bertrand Russell revealed this plan in a report on China published in 1920:”

This is the true record of intrusion driven by the proponents of Talmud rule.

So it is completely consistent when Richard M. Nixon surrendered to the Henry Kissinger prescriptions for opening the door to China. Remember that Kissinger was a communist agent for David Rockefeller. His own admission from the Corbett Report, China and the New World Order, is most revealing.

HENRY KISSINGER: “But they really are issues of the construction of a new world order, that’s what this is about, and that’s the sort of dialogue the Chinese are generally good at and so a partnership between us is central. A conflict between us is going to exhaust us both. In tactical exercises it cannot be conclusive.

INTERVIEWER: And the New World Order could satisfy both?

Read More @ TheSleuthJournal.com

The Crushing of Equifax

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by Wolf Richter, WolfStrret:

Banks, credit card companies, and other Equifax customers squeal. Consumers (the product) squeal. Congress squeals. Investors squeal.

Equifax shares dropped another 16{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} during the day and after-hours on Wednesday to $97.51. They’ve now plunged 31{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, or $44.82, in the four trading days since Equifax confessed that 143 million consumers had their data crown-jewels stolen when it was hacked. The stolen data is perfect for identity theft, such as getting a loan in your name, and tax fraud, such as getting a tax refund from the IRS in your name, with Kafkaesque consequences for you.

Investors, seeing what this might do to the company, have voted with their sell-button. Based on the 120.4 million shares outstanding as of June 30, the four-trading-day loss amounts to $5.4 billion.

The stink has been enormous, with Equifax having to back down from some of its most egregious solutions to this problem, including forcing consumers to give away their legal right to sue in order to sign up for its credit protection services. Buckling under scathing criticism, Equifax rescinded this requirement over the weekend.

Equifax will still try to twist this offer of “free” credit protection into a profit opportunity. Once your social security number, date of birth, and other data that hackers obtained is out there, you’re vulnerable to identity theft for the rest of your life, and you need to protect yourself for the rest of your life. But Equifax is just offering the first year for free, hoping that you’ll continue the service and pay its annual fee for the rest of your life.

Dozens of lawsuits have already been filed. Equifax will be attacked from all directions, including shareholder class-action lawsuits and consumer lawsuits. Congress has gotten interested in it, and two committees are planning hearings.

But the Wall Street hype continues. All 16 analysts tracked by Bloomberg that follow Equifax have either reiterated their bullish rating on the company, or have not altered their rating, and some have exhorted their clients to buy more.

JP Morgan Chase analyst Andrew Steinerman said that based on his conversation with Equifax executives, the financial impact would be isolated to the company’s business-to-consumer segment, which accounts for about 7{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of total revenue. Based on the revenue consensus of $3.40 billion for 2017, it would impact only about $238 million in revenue, according to MarketWatch. So no big deal?

Alas, Steinerman also said that he is “somewhat concerned” about the potential impact to the company’s business-to-business segment.

And that’s exactly what’s happening with the big banks and credit card companies, Equifax’s largest customers. They’re buying your data (which makes you the product in this trade). For Equifax, this revenue is now vulnerable. Citing “people familiar with the firms,” the Wall Street Journal, explains their reactions:

Banks and other financial companies are considering the possibility of moving some business away from Equifax Inc. in the wake of its data breach and to some of the firm’s credit-reporting rivals.

Lenders are unlikely to take any immediate action and are seeking more information from Equifax about the hack….

Still, large banks, in particular, have expressed dismay privately that their customers’ information was compromised, that they received no advance warning of the breach announcement, and that they still have little insight into what went wrong, these people said.

Some of it has spilled into the public. On Tuesday, JP Morgan Chase CEO Jamie Dimon – in 2014, his bank had suffered the biggest hack of any financial institution in US history – told a conference that he wants to find out if the hack could have happened to any company or if it was based on something that Equifax didn’t do correctly.

“All that will matter, it’s obviously important,” he said, according to the Journal. “It depends what happened and how it happened, whether they could’ve or should’ve.”

On Monday, Capital One CEO Richard Fairbank explained to a conference who exactly would bear the costs of the hack: “A bunch of our customers are affected,” he said. “It’s going to be costly to them and to us.”

The Journal added:

It is unlikely that financial firms would cease doing business with Equifax altogether. But, as contracts with the company come up for renewal, they might look to shift some of their business to rivals such as TransUnion or Experian PLC, the people familiar with the matter said.

So a loss in revenue and market share in Equifax’s business-to-business segment.

Read More @ WolfStreet.com

CHINA TO STOP ALL BITCOIN EXCHANGES (GOOD FOR GOLD/SILVER)

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by Harvey Organ, Harvey Organ Blog:

REUTERS CONFIRMS THAT NORTH KOREA SET TO LAUNCH AN ICBM: BOTH NEWS PROPEL GOLD/ GOLD RISES $1.15 BUT SILVER DOWN 2 CENTS/CHINA MISSES ON 3 IMPORTANT DATA POINTS/COPPER FALTERING BADLY: DEEP DISCOUNT FROM SPOT/OVER FUTURES AS ALL PARTS OF THE GLOBE LOADED WITH COPPER/MORE ANTICS FROM DONALD TRUMP

GOLD: $1325.65 UP   $1.15

Silver: $17.77  DOWN 2 CENT(S)

Closing access prices:

Gold $1329.95

silver: $17.80

SHANGHAI GOLD FIX:  FIRST FIX  10 15 PM EST  (2:15 SHANGHAI LOCAL TIME)

SECOND FIX:  2:15 AM EST  (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1328.81 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1321.40

PREMIUM FIRST FIX:  $7.41

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SECOND SHANGHAI GOLD FIX: $1323.20

NY GOLD PRICE AT THE EXACT SAME TIME: $1321.30

Premium of Shanghai 2nd fix/NY:$4.82

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LONDON FIRST GOLD FIX:  5:30 am est  $1323.20

NY PRICING AT THE EXACT SAME TIME: $1322.85

LONDON SECOND GOLD FIX  10 AM: $1324.55

NY PRICING AT THE EXACT SAME TIME. 1325.25

For comex gold:

SEPTEMBER/

NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 0 NOTICE(S) FOR  nil  OZ.

TOTAL NOTICES SO FAR: 54 FOR 5400 OZ  (0.1679 TONNES)

For silver:

SEPTEMBER

 

 355 NOTICES FILED TODAY FOR

 

1,775,000  OZ/

Total number of notices filed so far this month: 5,253 for 26,265,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

end

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total open interest ROSE BY A RATHER LARGE 764 contracts from  188,207 UP TO 188,971 DESPITE THE  DROP IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (DOWN 4 CENT(S). WE HAVE NOW HAD FOUR DAYS OF TORMENT AND YET THE SILVER OPEN INTEREST HARDLY BUDGES.  THE LONGS ARE REMAINING STOIC AND REFUSE TO GIVE IN TO THE ANTICS OF THE BANKERS. NO WONDER WE ARE UNDERGOING ANOTHER DAY OF TORMENT AS THE BANKS SEEMED TRAPPED IN THE OWN JUICE.

RESULT: A STEADY RISE IN OI COMEX  DESPITE THE 4 CENT PRICE LOSS. 

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.946 BILLION TO BE EXACT or 135{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 264 NOTICE(S) FOR 1,320,000OZ OF SILVER

In gold, the open interest FELL BY A TINY 1175 CONTRACTS DESPITE THE  LOSS  in price of gold ($4.20 LOSS YESTERDAY). The new OI for the gold complex rests at 579,431. WE SHOULD EXCEPT MORE TORMENT FROM THE CROOKS AS THE OPEN INTEREST IN GOLD JUST REFUSES TO GO DOWN. NO WONDER THE BANKERS ORCHESTRATED ANOTHER RAID THIS MORNING AS THE BANKERS TRY WITH NO LUCK TO FLEECE INVESTORS OF THEIR LONG POSITIONS.

Result: A SMALL INCREASE IN OI DESPITE THE  FALL IN PRICE IN GOLD ($4.20). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER.  NO DOUBT THAT ANOTHER FLASH CRASH WILL BE ORCHESTRATED TODAY DUE TO THE  RISE IN OPEN INTEREST IN GOLD AND THE STEADY RISE IN OI IN SILVER

we had: 0 notice(s) filed upon for nil oz of gold.

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With respect to our two criminal funds, the GLD and the SLV:

GLD:

Tonight , we had no change in gold inventory last night:

Inventory rests tonight: 838.64 tonnes

SLV

Today: no change in inventory.

INVENTORY RESTS AT 327.088 MILLION OZ

 

end

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver ROSE BY A STEADY  764 contracts from 188,207  UP TO 188,971(AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE YESTERDAY’S 4 CENT LOSS IN TRADING. OUR LONGS ARE STRONG AND REFUSE TO BUDGE WITH THE ANTICS OF OUR BANKERS.

RESULT:  A  STEADY RISE IN OI  AT THE COMEX  DESPITE THE FALL IN PRICE OF 4 CENTS. NO DOUBT ANOTHER RAID WILL BE CALLED UPON BY OUR BANKERS AS THE OPEN INTEREST ON BOTH GOLD AND SILVER REFUSE TO BUDGE 

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)

 

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY:  Bloomberg

3. ASIAN AFFAIRS

i)Late WEDNESDAY night/THURSDAY morning: Shanghai closed DOWN 12.72 POINTS OR 0.38{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}   / /Hang Sang CLOSED DOWN 116.88 POINTS OR 0.428{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/ The Nikkei closed DOWN 58.38 POINTS OR 0.29{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED DOWN 0.10{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed WELL DOWN at 6.6556/Oil UP to 49.61 dollars per barrel for WTI and 55.56 for Brent. Stocks in Europe OPENED RED EXCEPT LONDON. Offshore yuan trades  6.6571 yuan to the dollar vs 6.6556 for onshore yuan. NOW THE OFFSHORE MOVED A LITTLE WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN MUCH WEAKER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS A MUCH STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY  WEAKER DOLLAR. CHINA IS NOT HAPPY TODAY

Read More @ HarveyOrganBlog.com

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