Thursday, May 28, 2020

Is Hillary Going To Run Again In 2020? Clinton Endorses ‘Safe Space’ Website For Supporters That Turns Into The Laughingstock Of The Internet

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by Susan Duclos, All News Pipeline:

It appears that the Clinton campaign’s  “digital” guru, Peter Daou, has decided that Hillary supporters need an online “sanctuary,” billed as “Media for the 65.8 million,” where Clinton supporters can create virtual cards with quotes on them and even add an image if they so choose, much like the highly popular “memes”. The website’s name is “Verrit” which claims that it “collects and contextualizes noteworthy facts, stats, and quotes for politically engaged citizens. Each “verrit” is a verified item of information marked with a 7-digit identification code.”

Hillary Clinton herself has endorsed this site, which states on the page she linked to while endorsing it via Twitter, that it is for the 65.8 million people that voted for her, and its “purpose is to become their trusted source of political information and analysis; to provide them (and anyone like-minded) sanctuary in a chaotic media environment….”

On that page, Daou highlights a couple his own questions via Twitter, offering an explanation of why he created this website, saying “I can name thousands of people I connect with on Twitter who are #StillWithHer. Where is THEIR big media profile? Have they EVER had one?”

Let me answer that before detailing how the website is being panned by liberal media and conservative alike, as well as the “problems” the site has already experienced and how those that did not vote for Clinton have basically turned the site into the laughingstock of the Internet already.

Yes Clinton supporters have had a “media profile,” and it is called the mainstream media, the same media that did everything in their power to influence voters before the election… and failed. The same media that publicly admitted they were “promoting” her even before she announced she was running for president.

Remember this?

CLINTON SUPPORTER ‘SAFE SPACE’ WEBSITE PANNED BY LIBERALS

Most would expect conservative leaning media outlets and Independent Media sites that fought against Clinton becoming president would generally pan this type of propaganda website that uses the #StillWithHer as their rallying call, apparently not understanding the election is over and Hillary Clinton lost the electoral college decisively, which  despite their constant claim of Hillary won the popular vote, when frankly, that means nothing since America has always used the electoral college as its voting system.

What is surprising though is how the liberal media and blogs have reacted to this website, with outlets such as Washington Post declaring in their headline “Verrit, the pro-Clinton ‘media platform’ that’s looking worse and worse.” (Archive is link here)

A couple of  brutally critical key quotes from that article shows that it isn’t just “conservatives” that see this Verrit sites as some type of “safe space” for Clinton supporters:
 

This isn’t especially useful to anyone. The only thing Verrit is capable of debunking is parodies of Verrit. False statistics from elsewhere don’t come with codes that users can check against the site’s database. Neither, of course, do real ones. Verrit’s collection is finite — filled only with carefully curated cards that confirm Clinton voters’ views. It serves no purpose except to spare those voters the need to confront beliefs that conflict with their own.

Verrit has taken all the worst parts of today’s liberalism and turned them into a website. It is a safe space for middle-of-the-road Democrats, seeking to shelter them from conversations that would help far more than they hurt, based not on any actual issue of identity but instead on their preference for a candidate who was defeated 10 months ago. It’s only going to help them lose again.

The left-leaning Politico website is even more brutal as they headline with “This Pro-Hillary Website Looks Like North Korean Agitprop,” where their sub header states “Peter Daou, the prickly pro-Clinton operative, has launched a propaganda rag so shameless it would make Kim Jong Un blush.”
 

Who would buy stock in a twice-defeated presidential candidate?

If the candidate under question is Hillary Clinton, that zealous buyer would be Peter Daou, one-time rocker, seasoned political blogger, former campaign adviser to John Kerry and Hillary Clinton, ambitious litigant, propagandist and internet entrepreneur. A couple of days ago, Daou launched his self-funded Verrit.com, a slavishly pro-Clinton site (endorsed by Hillary!) to carry on her failed crusade.

The derision greeting Verrit is so universal it inspires sympathy for Daou, as Gizmodo, the Washington Post, Outline, New Republic, New York, The Ringer and others have broken its back with their snap judgments. “Verrit, a Media Company for Almost Nobody,” read one headline. “No One Asked for Verrit, But Here We Are,” stated another. “What Is Verrit and Why Should I Care? (Unclear; You Shouldn’t.),” said a third. “Peter Daou Continues to Embarrass Hillary Clinton,” asserted the best in show.

One example they missed comes from the progressive liberal website slate, where the title basically says it all “Clinton Confirms That Democrats Will Relitigate the 2016 Primary Until the Sun Swallows the Earth.”

Much like her new book is doing, while blaming Bernie Sanders, Barack Obama, the DNC, democratic voters, Russia, James Comey, women voters, and misogyny, for an election she lost.

From her book to her endorsement of this new Hillary supporter “safe space” website, even Democrats that were her donors and surrogates for her campaign are sick and tired of her constant complaints, blaming everyone, and her narcissistic desire to stay in the spotlight, as they are saying “The best thing she could do is disappear. She’s doing harm to all of us because of her own selfishness. Honestly, I wish she’d just shut the f— up and go away.”

A former Obama aide describes it as “the Hillary Show, 100 percent. A lot of us are scratching our heads and wondering what she’s trying to do. It’s certainly not helpful.” (Source – The Hill)

Other headlines and reactions to the Verrit site can be seen at Washington Free Beacon, who concludes “It Appears Clinton Is Only Person Who Likes News Platform Verrit.”

THE TROLL JUST GOT TROLLED ‘BIGLY’

Well it didn’t take long after Hillary Clinton endorsed the Verrit website for the site to crash, with Daou claiming it was because of DDoS attacks, but as a “digital” guru, it didn’t look good to go down so soon after creating the website, but the most hilarious aspect of Daou’s Twitter trolling of anyone and everyone that ever said anything critical of Clinton or her campaign, even supporters that held her accountable for her own loss, is how Daou the troll, is now being trolled by others who are creating their own Verrit “verified facts’ and quotes.

Read More @ AllNewsPipeline.com

The Political Environment I Want to See

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by Michael Krieger, Liberty Blitzkrieg:

Being called a traitor by Dick Cheney is the highest honor you can give an American, and the more panicked talk we hear from people like him, Feinstein, and King, the better off we all are. If they had taught a class on how to be the kind of citizen Dick Cheney worries about, I would have finished high school.

– Edward Snowden

Today’s post will focus on the political environment I’d like to see, not in my ideal fantasy world, but within the context of the system we have today.

As things stand, we’re being bombarded relentlessly about how divided we are as a people and how these divisions have become insurmountable. By constantly focusing on genuinely divisive social issues, the media creates a self-fulfilling prophesy, which merely serves to divide us further. Allowing ourselves to be pitted against one another redirects much of our political energy, and ensures we will never unite and face the real existential threats to the nation.

The truth of the matter is this. We as Americans have a legacy that consists of certain key principles enshrined in our Constitution. The most important of these are the first ten amendments to our founding document, known as the Bill of Rights. These simple yet timeless passages inform us we posses certain liberties that should never be infringed upon no matter what emotional state the public or politicians happen to be in at any given moment. They protect us not just from the government, but also from the periodic unrestrained, authoritarian passions of each other.

While the Bill of Rights represents a core set of principles the nation was founded upon, they are very much in jeopardy in practice. The 4th Amendment has more or less vanished into thin air as a result of the hysteria generated from two failed government crusades, the “war on drugs” and the “war on terror.” Both of these “wars” have served little purpose other than to manufacture enough fear so the general public accepts a creeping unconstitutional surveillance state. With the right to privacy sufficiently weakened, we now see certain factions going after the most important right of all, the right to free speech. If free speech ends up being lost, the American experiment will be over.

As such, the current state of affairs presents both an existential threat and a fascinating opportunity. Since the Bill of Rights itself is under attack by authoritarian factions on both the “right” and the “left,” we are gifted with a critical issue that can hopefully unite the majority of us. If we can’t agree that these core civil liberties represent a fundamental part of the American experiment, then America no longer exists. Indeed, the defining feature of a real patriot isn’t flag waving and cheerleading televised invasions, but a tireless commitment to the civil liberties expressed in our Constitution. There aren’t many things in life worth dying for, but that’s one of them.

A healthy political environment would consist of a vast majority of the U.S. population being vigorously protective of the Bill of Rights and the civil liberties enshrined in them. This would force politicians of all stripes to instinctively proclaim their undying allegiance to such ideals, thus making it unthinkable for any of them to pass laws or advocate for executive orders that infringe upon these rights. The present environment is pretty much the exact opposite. Large segments of the population have been so bombarded with endless fear-mongering they’ve been conditioned to beg politicians to do away with civil liberties in order to provide security. This is a rejection of our true heritage and is the most unpatriotic thing a U.S. citizen can do.

We currently reside in a country where the consensus position of most establishment politicians from both the Republican and Democratic cults is to push for a reduction of civil liberties in the name of safety. This has become particularly perverse following our nationwide mental breakdown during the post 9/11 period, and it continues to get worse and worse. It’s no coincidence that things have so fundamentally deteriorated in our society and economy since that gruesome attack. As a people, we turned our backs on our heritage and assumed the role of fearful subjects, as opposed to engaged, active citizens. Politicians have taken full advantage of our deranged submissiveness, and the results are all around us. We now live in a predatory, unaccountable oligarchy.

This isn’t to say issues beyond civil liberties are unimportant or should be discarded. What I’m saying is we need to take a step back as a people, assuming we still want to function as a nation, and look at our first principles. It’s imperative that we focus at least some energy on the really big picture items that should unite us all. We need to make civil liberties a suicidal line for any politician to cross, which would put them on notice that we will not be so easily manipulated. Once we’ve reaffirmed consensus on some core principles, all the other issues can and should be vigorously debated by various factions and political parties.

As things stand today, nothing seems to unite us, and mainstream politicians in both major parties tend to exhibit widespread authoritarian tendencies. We saw it with Bush, Obama and now Trump. The only way to break the cycle is for us to unite on certain core issues and say enough is enough.

Read More @ LibertyBlitzkrieg.com

FEMA Expected To Run Out Of Money By Friday As Superstorm Irma Approaches Florida

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by Carey Wedler, Activist Post:

The Federal Emergency Management Agency (FEMA) has suffered from a shoddy reputation for quite some time, particularly after its failed response to Hurricane Katrina in 2005. As the Gulf coast recovers from Hurricane Harvey and Hurricane Irma approaches Florida, FEMA faces further failure as its funds near depletion.

Bloomberg reported Tuesday that the agency is nearly broke and is expected to run out of money on Friday, according to a Senate aide. According to the outlet:

As of 10 a.m. Tuesday morning, FEMA’s Disaster Relief Fund, which pays for the agency’s disaster response and recovery activity, had just $1.01 billion on hand. And of that, just $541 million was ‘immediately available’ for response and recovery efforts related to Hurricane Harvey, according to a spokeswoman for FEMA who asked not to be identified by name.

The $1.01 billion in the fund Tuesday morning is less than half of the $2.14 billion that was there at 9 a.m. last Thursday morning — a spend rate of $9.3 million every hour, or about $155,000 a minute.

The Trump administration has already asked Congress for nearly $8 billion in additional funds, though Reuters noted that request may be delayed unless Congress raises the debt limit, as Secretary of the Treasury Steven Mnuchin has asked it to do.

“Without raising the debt limit, I am not comfortable that we will get money to Texas this month to rebuild,” Mnuchin told Fox News.

Even the $8 billion sum is only a drop in the bucket compared to the estimated damage Harvey incurred. Texas Governor Greg Abbott expects recovery and rebuilding will cost between $150 to $180 billion.

Unsurprisingly, Brock Long, head of the U.S. Federal Emergency Management Agency, told CBS News that state and local governments need to step up their efforts.

“People cannot depend solely on the Federal Emergency Management Agency to, you know, be responsible for a majority,” he said, CBS reported Sunday. He said Texas is already serving as a good model for non-federal preparedness.

Regardless, as Hurricane Irma — deemed one of the strongest Atlantic hurricanes ever to hit the Atlantic — strikes Puerto Rico and other islands as it approaches Florida, Georgia, and South Carolina, FEMA’s prospects are not looking good. According to Elizabeth Zimmerman, who served as FEMA’s associate administrator for the office of response and recovery until January, “If it’s down to $1 billion or less, then I would say there’s a great concern.”

Read More @ ActivistPost.com

Fed Vice (Stanley Fischer) Chair Stepping Down in October

from TRU News:

Sooner than expected, President Donald Trump will have an opportunity to shape U.S. monetary policy with the announcement Wednesday that Federal Reserve Vice Chairman Stanley Fischer is resigning effective in mid-October.

Fischer’s resignation letter to the president states:

I am writing to inform you that for personal reasons it is my intention to resign from the Board of Governors of the Federal Reserve System on or around October 13, 2017.

It has been a great privilege to serve on the Federal Reserve Board and, most especially, to work alongside Chair Yellen as well as many other dedicated and talented men and women throughout the Federal Reserve System. During my time on the Board, the economy has continued to strengthen, providing millions of additional jobs for working Americans. Informed by the lessons of the recent financial crisis, we have built upon earlier steps to make the financial system stronger and more resilient and better able to provide the credit so vital to the prosperity of our country’s households and businesses.

 Federal Reserve Vice-Chairman Stanley Fischer informed President Donald Trump in a letter Wednesday he intends to resign effective mid-October. This will allow the president to replace all but two members of the Fed's Board of Governors in his current term.
Federal Reserve Vice-Chairman Stanley Fischer informed President Donald Trump in a letter Wednesday he intends to resign effective mid-October. This will allow the president to replace all but two members of the Fed’s Board of Governors in his current term.

Fischer is the former chairman of Citigroup, and also served as governor of the Bank of Israel, as first deputy managing director of the International Monetary Fund, and as the chief economist at the World Bank. He also taught economics at MIT for more than 20 years—former Fed chairman Ben Bernanke was a student.

Currently, three other seats on the seven-member Board of Governors are vacant, and Chairwoman Janet Yellen’s term expires in February. Prior to Fischer’s announcement, analysts were predicting National Economic Council Director Gary Cohn would be the president’s choice to succeed Yellen.

The president will now have the opportunity to replace all but two members of the Board of Governors at the Fed during his current term in office.

Read More @ TRUNews.com

Intensifying Russia Probes: Why? It’s a Proven Fact that Russia Did Not Hack DNC Computers

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by Mish Shedlock, Mish Talk:

Politico reports Russia probes kick into high gear. CNN says Intensifying Russia probes could pit Hill against Mueller. Esquire says All These Trump Associates Will Testify About Russia This Fall.

There is only one angle in the Russia story worth investigating: Hillary’s role, the CIA’s role, and the FBI’s role in the Russia blame game.

Let’s kick off that discussion with a detailed look at the alleged Russia hack of the DNC servers.

Former NSA experts say it wasn’t a hack at all, but an inside job by someone with access to the DNC’s system. Timestamp analysis proves that it’s impossible for Russia or anyone else to have externally hacked the DNC computers.

Anyone with an ounce of common sense understood that Russia was not behind the scandal. We now have proof.

The Nation headline story from August 9, New Report Raises Big Questions About Last Year’s DNC Hack does not do justice to the significance and gravity of the real story, but the article presents the case nicely.

It is now a year since the Democratic National Committee’s mail system was compromised—a year since events in the spring and early summer of 2016 were identified as remote hacks and, in short order, attributed to Russians acting in behalf of Donald Trump. A great edifice has been erected during this time. President Trump, members of his family, and numerous people around him stand accused of various corruptions and extensive collusion with Russians. Half a dozen simultaneous investigations proceed into these matters. Last week news broke that Special Counsel Robert Mueller had convened a grand jury, which issued its first subpoenas on August 3. Allegations of treason are common; prominent political figures and many media cultivate a case for impeachment.

All sides agree that relations between the United States and Russia are now as fragile as they were during some of the Cold War’s worst moments. To suggest that military conflict between two nuclear powers inches ever closer can no longer be dismissed as hyperbole.

All this was set in motion when the DNC’s mail server was first violated in the spring of 2016 and by subsequent assertions that Russians were behind that “hack” and another such operation, also described as a Russian hack, on July 5. These are the foundation stones of the edifice just outlined. The evolution of public discourse in the year since is worthy of scholarly study: Possibilities became allegations, and these became probabilities. Then the probabilities turned into certainties, and these evolved into what are now taken to be established truths. By my reckoning, it required a few days to a few weeks to advance from each of these stages to the next. This was accomplished via the indefensibly corrupt manipulations of language repeated incessantly in our leading media.

Lost in a year that often appeared to veer into our peculiarly American kind of hysteria is the absence of any credible evidence of what happened last year and who was responsible for it.

We come now to a moment of great gravity. Forensic investigators, intelligence analysts, system designers, program architects, and computer scientists of long experience and strongly credentialed are now producing evidence disproving the official version of key events last year.

Two, houses built on sand and made of cards are bound to collapse, and there can be no surprise that the one resting atop the “hack theory,” as we can call the prevailing wisdom on the DNC events, appears to be in the process of doing so.

Research into the DNC case took a fateful turn in early July, when forensic investigators who had been working independently began to share findings and form loose collaborations wherein each could build on the work of others. In this a small, new website called http://www.disobedientmedia.com proved an important catalyst. Two independent researchers selected it, Snowden-like, as the medium through which to disclose their findings. One of these is known as Forensicator and the other as Adam Carter. On July 9, Adam Carter sent Elizabeth Vos, a co-founder of Disobedient Media, a paper by the Forensicator that split the DNC case open like a coconut.

Forensicator’s first decisive findings, made public in the paper dated July 9, concerned the volume of the supposedly hacked material and what is called the transfer rate—the time a remote hack would require. The metadata established several facts in this regard with granular precision: On the evening of July 5, 2016, 1,976 megabytes of data were downloaded from the DNC’s server. The operation took 87 seconds. This yields a transfer rate of 22.7 megabytes per second.

These statistics are matters of record and essential to disproving the hack theory. No Internet service provider, such as a hacker would have had to use in mid-2016, was capable of downloading data at this speed. Compounding this contradiction, Guccifer claimed to have run his hack from Romania, which, for numerous reasons technically called delivery overheads, would slow down the speed of a hack even further from maximum achievable speeds.

What is the maximum achievable speed? Forensicator recently ran a test download of a comparable data volume (and using a server speed not available in 2016) 40 miles from his computer via a server 20 miles away and came up with a speed of 11.8 megabytes per second—half what the DNC operation would need were it a hack. Other investigators have built on this finding. Folden and Edward Loomis say a survey published August 3, 2016, by http://www.speedtest.net/reports is highly reliable and use it as their thumbnail index. It indicated that the highest average ISP speeds of first-half 2016 were achieved by Xfinity and Cox Communications. These speeds averaged 15.6 megabytes per second and 14.7 megabytes per second, respectively.

“A speed of 22.7 megabytes is simply unobtainable, especially if we are talking about a transoceanic data transfer,” Folden said. “Based on the data we now have, what we’ve been calling a hack is impossible.”

The stamps recording the download indicate that it occurred in the Eastern Daylight Time Zone at approximately 6:45 pm. This confirms that the person entering the DNC system was working somewhere on the East Coast of the United States.

In addition, there is the adulteration of the documents Guccifer 2.0 posted on June 15, when he made his first appearance. This came to light when researchers penetrated what Folden calls Guccifer’s top layer of metadata and analyzed what was in the layers beneath. They found that the first five files Guccifer made public had each been run, via ordinary cut-and-paste, through a single template that effectively immersed them in what could plausibly be cast as Russian fingerprints. They were not: The Russian markings were artificially inserted prior to posting. “It’s clear,” another forensics investigator self-identified as HET, wrote in a report on this question, “that metadata was deliberately altered and documents were deliberately pasted into a Russianified [W]ord document with Russian language settings and style headings.”

Timeline

  • On June 12 last year, Julian Assange announced that WikiLeaks had and would publish documents pertinent to Hillary Clinton’s presidential campaign.
  • On June 14, CrowdStrike, a cyber-security firm hired by the DNC, announced, without providing evidence, that it had found malware on DNC servers and had evidence that Russians were responsible for planting it.
  • On June 15, Guccifer 2.0 first appeared, took responsibility for the “hack” reported on June 14 and claimed to be a WikiLeaks source. It then posted the adulterated documents just described.
  • On July 5, Guccifer again claimed he had remotely hacked DNC servers, and the operation was instantly described as another intrusion attributable to Russia. Virtually no media questioned this account.

The Washington Post, CNN, and nearly every mainstream media outlet published the “Russia did it” story with no proof or even plausibility.

James Clapper, the former director of national intelligence, admitted in May that “hand-picked” analysts from three agencies posted an Intelligence Community Assessment that they had “high confidence” Russia was behind this.

The Nation notes “The FBI has never examined the DNC’s computer servers—an omission that is beyond preposterous.”

Instead of examining the DNC servers, the FBI relied on the reports produced by Crowdstrike.  The co-founder and chief technology officer of Crowdstrike, Dmitri Alperovitch, is on the record as vigorously anti-Russian. Crowstrike was also under the employment of the DNC.

Investigating the Wrong Target

Trump should not be the one who is under investigation.

Read More @ MishTalk.com

PAPER: NSA Offered Hillary Clinton’s “Lost” Emails to FBI— Comey Turned Them Down

by Joshua Caplan, The Gateway Pundit:

As Special Counsel Robert Mueller’s investigation into Russian interference in the 2016 presidential election expands, one curious detail in Hillary Clinton’s email probe remains. The “lost” emails from Clinton’s private server aren’t lost — in fact — the NSA has them, but during the FBI’s investigation, Comey didn’t want to hear about it. 

New York Post reports:

Remember, the Republicans now control this committee. So bad news isn’t going to be stifled anymore.

Clinton, you probably remember, “lost” her private emails, which she’d been storing on a personal computer server. Comey chastised her harshly in a televised speech but then said there was a unanimous decision not to recommend prosecution.

Clinton’s emails, which were stolen by the Russians, have never been found. But as I’ve mentioned numerous times, the messages are still in the possession of the National Security Agency (NSA), which offered to give them to the FBI.

Comey turned down that offer, according to a source who has been very reliable.

I’ve also mentioned that Comey fibbed when he said his agents unanimously agreed that prosecution was unnecessary. In fact, my source says that FBI agents were irate about the decision not to go after Clinton.

James Comey’s irreparable reputation took another body blow last week after a memo emerged, written by the former FBI Director, appearing to exonerate Hillary Clinton of any wrongdoing in relation to her handling of classified information — prior to the investigation’s conclusion. With all the focus on Comey’s role in Hillary Clinton’s exoneration, it begs the question if the decision was made by a “higher power.”

No, not God.

But by a man who may think of himself as one — Barack Obama. National Review’s Andrew McCarthy believes Obama was the puppet master, so to speak, driving the narrative to insure Hillary was gotten off the hook, ensuring the Democrat Party continued its control over the White House.

National Review reports:

Let’s think about what else was going on in April 2016. I’ve written about it a number of times over the last year-plus, such as in a column a few months back: On April 10, 2016, President Obama publicly stated that Hillary Clinton had shown “carelessness” in using a private e-mail server to handle classified information, but he insisted that she had not intended to endanger national security (which is not an element of the [criminal statutes relevant to her e-mail scandal]). The president acknowledged that classified information had been transmitted via Secretary Clinton’s server, but he suggested that, in the greater scheme of things, its importance had been vastly overstated. This is precisely the reasoning that Comey relied on in ultimately absolving Clinton, as I recounted in the same column: On July 5, 2016, FBI director James Comey publicly stated that Clinton had been “extremely careless” in using a private email server to handle classified information, but he insisted that she had not intended to endanger national security (which is not an element of the relevant criminal statute).

The director acknowledged that classified information had been transmitted via Secretary Clinton’s server, but he suggested that, in the greater scheme of things, it was just a small percentage of the emails involved. Obama’s April statements are the significant ones. They told us how this was going to go. The rest is just details. In his April 10 comments, Obama made the obvious explicit: He did not want the certain Democratic nominee, the candidate he was backing to succeed him, to be indicted. Conveniently, his remarks (inevitably echoed by Comey) did not mention that an intent to endanger national security was not an element of the criminal offenses Clinton was suspected of committing – in classic Obama fashion, he was urging her innocence of a strawman crime while dodging any discussion of the crimes she had actually committed.

As we also now know – but as Obama knew at the time – the president himself had communicated with Clinton over her non-secure, private communications system, using an alias. The Obama administration refused to disclose these several e-mail exchanges because they undoubtedly involve classified conversations between the president and his secretary of state. It would not have been possible to prosecute Mrs. Clinton for mishandling classified information without its being clear that President Obama had engaged in the same conduct. The administration was never, ever going to allow that to happen.

Read More @ TheGatewayPundit.com

Washington D.C. Dysfunction and Central Bank Chaos

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by Michael Pento, Market Oracle:

On September 5th, the members of both houses of Congress of the United States will clean the beach sand from between their toes and return to work. Our public servants who occupy The House of Representatives have been working on their respective tans since July 29th. The Senate has had a little less time in the sun; they held their final vote on August 3rd despite their pledge to stay until August 11th.

Hopefully, they got a lot of rest, because they have a lot to do upon their return. By the end of September Congress will need to pass a budget bill to avoid a government shutdown. Expect Tea Party Republicans to hold their ground on spending cuts while Trump petitions for his wall. According to recent tweets, Trump is pushing for this fight and welcomes a government shutdown. Get out the popcorn this could get interesting.

Washington also need to increase the debt ceiling, to avoid a debt default that could trigger a global financial crisis. Treasury Secretary Steven Mnuchin can pay the bills in full and on time through September 29th – after that, he will need an increase in the country’s $19.81 trillion-dollar credit limit. Republicans are promising that a default is impossible, but Congress also promised a repeal and replacement of Obamacare within the first 100 days of the Trump Presidency, and Trump himself guaranteed to kill the ACA on day one–so I wouldn’t hold my breath that increasing the nation’s credit limit will go any smoother.

Congress also needs to reauthorize the insurance of 9 million children through the Children’s Health Insurance Program (CHIP) and pass the National Flood Insurance Program (NFIP)—Hurricane Harvey has put extra importance on this provision, as well as aid for the storm itself.

After they take care of those urgent matters they plan to segue back to tax reform, infrastructure and to take yet another crack at making some needed modifications to Obamacare; before the premiums rise to 100{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of disposable income.

And they will have to juggle this full legislative agenda while dealing with North Korea, Russia-gate and Confederate Statue-gate.

For a body of elected officials who have built their careers on doing nothing they have an enormous amount of legislation to sift through in an incredibly short amount of time.

And all this dysfunction in DC is having an adverse effect on the dollar, which is already down over 9{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} this year. A strong dollar is emblematic of a vibrant economy. Whereas, the opposite displays faltering GDP growth and a distressed middle class.

This recent retreat in the dollar is also due to Mario Draghi’s hint that he may pull back QE in the Eurozone. In their June meeting, The European Central Bank (ECB) failed to announce a policy change, but they did make some small changes to forward guidance, which has investors bracing for such an announcement at the September 7th meeting. Mr. Draghi has recently expressed more confidence in the Eurozone economy. The expectation of ECB tapering has put downward pressure on our dollar.

This is why the lynchpin for the global economy now rests on the shoulders of Mario Draghi and Janet Yellen—both of whom foolishly believe that their massive counterfeiting sprees have put the global economy in a viable and stable condition. I intentionally left out Haruhiko Kuroda of the BOJ; even though he is the worst of the money printing bunch, at least he knows—along with everyone else–that he will never be able to stop counterfeiting yen. If the ECB begins the taper in January of next year, QE would be wound down to zero by June. And, of course, the Fed has made it clear that it will begin reverse QE around the end of this year. This will result in the selling of $50 billion worth of MBS and Treasuries at the same time the ECB is out of the additional bond-buying business.

The memories of central bankers are extremely limited. In particular, Draghi forgets that before his pledge to do “whatever it takes” to push European bond yields lower during 2012, the German 10 year bund was 4{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}. And periphery yields such as; the Italian 10 year was close to 8{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, Portugal 14{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, and in Greece the yield was 40{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}. That is how high yields were before ECB purchases began. However, these intractable yields were extant before the gargantuan increase in nominal aggregate debt levels incurred since the global financial crisis, which was abetted by the central bank’s offering of negative borrowing rates.

Read More@ MarketOracle.co.uk

USS John S. McCain Part I: The Official Story

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from Rogue Money:

“The guided-missile destroyer USS John S. McCain (DDG 56) was involved in a collision with the merchant vessel Alnic MC while underway east of the Straits of Malacca and Singapore on Aug. 21. There are currently 10 Sailors missing and five injured. The collision was reported at 6:24 a.m. Japan Standard Time, while the ship was transiting to a routine port visit in Singapore. The ship is currently sailing under its own power and heading to port. Alnic MC is a 600-foot oil and chemical tanker with a gross tonnage of 30,000. Initial reports indicate John S. McCain sustained damage to her port side aft. The extent of damage and personnel injuries is being determined. The incident will be investigated.”

— U.S. 7th Fleet Public Affairs, August 20, 2017

On August 20th, while the Senatorial son of her namesake, Admiral John S. McCain, was enjoying the cool waters of our beautiful Oak Creek near Sedona, Arizona, the naval destroyer USS John S. McCain was about to lose ten of her sailors as a result of an unexplained collision with a commercial cargo ship in the Strait of Malacca.

I will let the official tweets from the U.S. Navy and 7th fleet lay out the sequence of events. As a result of this incident and three other “mishaps” that have occurred this year alone, the decision to remove Commander Aucoin was handed down almost immediately. Many of us have raised more than one eyebrow over suspicions of what really happened, including the Sirius Report, Bill Holter, and Dr. Joseph P. Farrell, whose comments I will include in the next blog.

First, a reminder of the USS Fitzgerald and similar incident that preceded this one.

August 20th: damage to the USS John S. McCain is announced.

August 21st. Photos of the damage are released. 

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