Monday, January 27, 2020

Fed Official Confesses Fed Rigged Stock Market — Crash Certain

by David Haggith, The Great Recession Blog:

In a dynamite interview, Richard Fisher, former president and CEO of the Federal Reserve Bank of Dallas, gave what may be the biggest confession you’ll ever see and hear from a Federal Reserve insider: the Federal Reserve knowingly “front ran” the US stock market recovery (i.e., manipulated the market) and created a huge asset bubble. Fisher expresses certainty that the “juiced” stock market will come down and is coming down now that the Fed has taken its foot off the accelerator … and that it has a long way yet to go.

While that is no news to readers here whose eyes are wide open, a “market put” has been denied by the Fed and by many market advisors. That the market was an overinflated bubble created by the Fed has been denied, too; but Fisher clearly and gleefully admits the Fed created a bubble that will have to deflate now that the Federal Reserve’s stimulus is off.

As one of the members of the Federal Reserve’s FOMC (the Federal Open Market Committee, which sets US monetary policy), Richard Fisher participated in and voted on all of the Fed’s policies of zero interest and quantitative easing, so he has inside knowledge of all the discussions behind the scenes at the Fed.

Here are the significant quotes from Richard Fisher on CNBC’s video:

 

What the Fed did — and I was part of that group — is we front-loaded a tremendous market rally, starting in 2009.

It’s sort of what I call the “reverse Whimpy factor” — give me two hamburgers today for one tomorrow.

I’m not surprised that almost every index you can look at … was down significantly. [Referring to the results in the stock market after the Fed raised rates in December.]

Basically, we had a tremendous rally, and I think there’s a great digestive period that is likely to take place now, and it may continue.

We front-loaded at the Federal Reserve an enormous rally in order to accomplish a wealth effect.

I wouldn’t blame [what is happening in the market’s now] on China. We’re always looking for excuses.

I wasn’t surprised at last year. And I wouldn’t be surprised at a rather fallow performance this year as well.

A lot of people are building cash positions…. Those [investors] that are taking a longer term view are being extremely cautious here, are raising their cash levels, are nervous about the valuations that are in the market.

The values are very richly priced here, so I could see significant downside.

 

Asked if saw a big unwind from the Fed’s 6.5-year policy and what it would look like on the way down, Fisher responded,

I was warning my colleagues, “Don’t go wobbly if we have a 10-20% correction at some point…. Everybody you talk to … has been warning that these markets are heavily priced.

 

Elsewhere Fisher said:

 

The Federal Reserve is a giant weapon that has no ammunition left.

You have to be careful here and frank about what drove the markets…. It was, the Fed, the Fed, the Fed, the European Central Bank, the Japanese Central bank … all quantitatively driven by central bank activity. That’s not the way markets should be working…. They were juiced up by central banks, including the Federal Reserve…. So, I think you have to acknowledge reality.

It’s about time for breaking the economic denial. Acknowledging reality is what many in the mainstream media, at the Fed, and among economists and stock analysts refused to do.

Now that the US stock market appears to be crashing, is Richard Fisher’s confession to cover his own hind end, by saying, “I warned the guys about this, and I voted against QE3 because I knew it went too far?” Is he just the first rat to flee the sinking ship, or is he just the most honest of Fed officials who is no longer on the Fed’s FOMC (the committee that creates dollars at will) so feels freer to talk?

Your thoughts? (And please pass the confession along so that it gets lots of play time because you don’t get a confession like this about the inner arguments of the Fed very often. I imagine Yellen is doin’ a little yellin’ right now.)

Read More @ TheGreatRecessionBlog.info

TRUMP TO END NAFTA SOON, OFFICIALS EXPECT

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from Kit Daniels, Infowars:

Ending NAFTA will slow down illegal immigration – here’s why

President Trump is expected to pull out of the North American Free Trade Agreement soon, Canadian leaders expect.

Trump may announce the end of NAFTA as early as late January when his officials meet with Canada and Mexico to discuss NAFTA-related issues.

Why it matters: Ending NAFTA as it exists was one of Trump’s core promises of his 2016 presidential campaign.

The president has long blamed the trade agreement of distorting the labor market in all three countries, particularly with the outflow of US factory jobs to Mexico.

Trump gained unstoppable momentum in the campaign once he shared a viral video of Carrier factory workers learning that they were losing their jobs as the air conditioning company transferred production to a plant in Monterrey, Mexico.

The president spoke out against the announcement, and once elected he spent his time as president-elect working deals with US CEOs to bring jobs back to Americans.

What else to expect: Trump killing NAFTA will also slow down illegal immigration from Mexico. NAFTA was directly responsible for the surge of Mexicans illegally seeking work in the US that began in the mid-1990s as NAFTA subsidies given to US farmers put Mexican farmers out of work.

“There are no jobs [in Mexico] and NAFTA forced the price of corn so low that it’s not economically possible to plant a crop anymore,” Rufino Domínguez, the former coordinator of the Binational Front of Indigenous Organizations, once revealed.

Read More @ Infowars.com

Video: Pathetic Antifa Protesters Can’t Even Explain What Fascism Actually Is

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by Alex Thomas, SHTFPlan:

A new video from the conservative website Campus Reform shows a series of Antifa thugs being questioned over what they believe fascism actually is and they predictably failed miserably.

The websites Cabot Phillips attempted to interview a variety of hard-left Antifa morons who were protesting the conservative campus group Turing Point USA for simply wanting to exist as a group on campus without being harassed or shut down.

“I certainly count myself as Antifa. We do not think that fascists and ultra right-wingers, the alt-right, deserve to have a platform,” one made claimed, making clear that this new leftist orthodoxy does indeed want to CENSOR all speech that goes against their political beliefs.

Another Antifia protesters, asked to define what fascism actually is, laughably claimed, “I don’t really want to get into all of that history and stuff,” before adding, “I don’t want to talk about it right now.”

Phillips then attempted to engage the man again, noting how serious an accusation of being a Nazi or fascist actually is.

“That’s a serious thing though, to call somebody a Nazi and a fascist, but you have to know what it is though if you’re going to call them that,” Phillips can be heard saying before the protester decided to call him a Nazi as well.

Eventually the protesters decided that they had had enough of legitimate questions and refused to continue the conversation.

Campus Reform reported:

Opposition to “fascism” is increasingly in-vogue on college campuses, but many students still aren’t sure exactly what it is that they’re protesting against.

In the past year, Campus Reform has reported extensively on the rise of the militant far-left protest group known as “Antifa.” Often using violence to convey their opposition to anyone they deem “fascist”, the group was recently labeled a “domestic terror” group by the Department of Defense.

[..]

Last week, a number of these “anti-fascist” activists appeared at Turning Point USA’s Student Action Summit in Palm Beach, Florida.

Protesting the speech of Fox News’ Jesse Watters, the demonstrators held signs labeling the attendees as “racists”, “Nazis,” and most noticeably, “fascists.”

Make no mistake, this is hardcore leftist insanity at its finest folks!

Read More @ SHTFPlan.com

BREAKING: Court Order Confirms DNC Fraud Lawsuit Appeal Will Proceed

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by Elizabeth Vos, Disoedient Media:

Attorneys for the plaintiffs in the DNC Fraud Lawsuit received good news from the 11th Circuit Court of Federal Appeals earlier today. The Becks stated via social media that “After posing two separate jurisdictional questions, the 11th Circuit Court of Appeals has found jurisdiction sufficient for the case to proceed on appeal.

The DNC Fraud lawsuit was initially filed on behalf of donors to the Democratic party in the wake of the revelations stemming from the publication of DNC emails that clearly demonstrated the party’s partisan efforts to support Hillary Clinton and to undermine Bernie Sander’s campaign. After the suit was dismissed late last year, Disobedient Media reported that the Becks filed an appeal to that ruling.

The suit has proven extremely significant in terms of calling the Democratic Party establishment to account, with DNC defense counsel forced to argue in open court that the Party should legally be able to support one candidate over another, in an apparently overt contradiction of the DNC’s charter.

Disobedient Media reported on the numerous issues stemming from the suit, including safety concerns of the plaintiff’s Attorneys and their co-counsel. Among other disturbing events surrounding the case, including the death of Shawn LucasDisobedient Media reported that the Becks had received unusual phone calls from a caller-ID which matched the Aventura office of Debbie Wasserman-Schultz, a defendant in the case.

The latest order, which can be read in full at the Beck’s JAMPAC site, reads in part:

Read More @ DisobedientMedia.com

‘We Are On A Very Dangerous Path Of Self-Annihilation’ Warns Head Of Russian Orthodox Church: ‘If Evil Prevails, End Times Will Be Upon Us’

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by Stefan Stanford, All News Pipeline:

– Full-Scale Persecution May Await Christians Should Globalist Win In 2020

In this new story over at the Guardian that the Drudge Report linked to on Tuesday titled “Hell Freezes Over: How The Church Of Satan Got Cool”, they immediately give partial credit for the ‘rise of satanism in America’ to Chelsea Clinton where in the subtitle they claim “Thanks to a canny social media presence – which has included messages to Chelsea Clinton – and progressive politics, satanism is an unlikely spiritual antidote to the Trump era”

As Susan Duclos pointed out in this January 6th ANP story, Chelsea even took the time to reply to the church of satan, of which she has done several times, and as this Infowars story also pointed out, was joyous as she even took the time to wish them a happy new year for 2018. As the Infowars story points out, The Church of Satan was established in San Francisco, California, in 1966 by Anton Szandor LaVey. Also known as the Black Pope, LaVey reportedly engaged in cannibalism according to his authorized biography

And as we see within this ANP story as is specifically pointed out in the video published after the next section below featuring the head of the Russian Orthodox Church, Patriarch Kirill, the normalization of evil that we’re now witnessing across America and throughout much of the entire planet could lead to the very downfall of humanity, the apocalypse and ‘end times’. 

When we took the time to read the previously mentioned story over at the Guardian, we shouldn’t have been the least bit surprised to learn that the piece was a PRO-satan story and an ANTI-Donald Trump story. With satanists lining up with Chelsea and Hillary as the ‘spiritual antidote‘ to President Trump, what should that tell us about President Trump? 

As Patriarch Kirill tells us in this translated video, never before have evil and righteousness been put upon the same level as we are witnessing now and the Patriarch issues this firm warning, “if evil prevails, the end times will be upon us.” 

When asked about the apocalypse and if ‘the end is near’ and what would bring about such a scenario, Patriarch Kirill tells us “In the case when the human society stops to be viable, when the resources to exist will be exhausted which would happen in the case when we have absolute dominance of evil”. Warning us that evil is not viable and in cases where systems are taken over by evil, those systems will fall, Kirill continues “If evil drives away good from human society, then the end will come”.

When asked by the interviewer why do we have to talk about this today?, Patriarch Kirill replies “Because we are now living through a special period in history.  Never before did human society put good and evil on the same level. There were attempts to justify evil but never to say that good and evil are relative and not absolute truths. People’s perception of good and evil was that they were absolute truth. But today they are relative. When can evil unrestrainedly grow in human society? EXACTLY when this point of view that good and evil are the same triumphs globally. And we are currently not at the beginning of this process but a certain amount of time has passed. History as we know it is exhausted, so how can the church keep silent? How can it avoid sending up an alarm? How can it avoid warning that we are on a very dangerous path of self-annihilation? If the church will not say this than who will?” 

Read More @ AllNewsPipeline.com

Drone attack on Russian bases launched from Turkish controlled area

by Alexander Mercouris, The Duran:

Russia’s Defence Ministry says drone attack launched from Turkish controlled area

The Russian Ministry of Defence has now released more information on the drone attack on Russia’s two Syrian bases at Khmeimim and Tartus on Saturday 6th January 2018.

Yesterday reports from Russia spoke of the drone attack using US sourced technology and of the attack coinciding with the presence of a US Poseidon surveillance aircraft close to the bases.

Today Russia’s Ministry of Defence says is saying that the drone attack was launched from a Turkish controlled area in the heart of a so-called ‘de-escalation zone’ in north west Syria’s Idlib province.

The report in the Ministry of Defence’s newspaper Krasnaya Zvezda (“Red Star”) reads in part as follows

It has been established that the drones were launched from the area of Muazzara in the southwestern part of the Idlib de-escalation area controlled by the so-called ‘moderate opposition’ units.

Therefore, the Russian Defense Ministry sent letters to Chief of the Turkish General Staff Chief Gen. Hulusi Akar and Chief of the National Intelligence Organization Hakan Fidan.

Those documents declared the need for Ankara’s implementation of its commitment to ensure the ceasefire by the controlled armed units and step up the deployment of observation posts in the Idlib de-escalation area for the purpose of preventing similar drone attacks on any facilities

Note that these comments fall well short of accusing Turkey of direct complicity in the attack.

The attack was however by Jihadi standards highly sophisticated, involving the use of 13 drones, and would have required not just a secure launch area but secure data links and an operations room from which to control the drones and plan the attack.

The drones themselves would also have had to be manufactured and assembled and transported to the launch site, assuming of course that they were not manufactured and assembled there.

Though the drones themselves were primitive by the standards of advanced militaries (see caption picture) they did incorporate elements of modern technology.  Here is what Krasnaya Zvezda has to say about them

All the drones used by the terrorists were equipped with barometric sensors and servo-drives for controlling the elevator wheels. In addition the improvised explosive devices the terrorists attached to drones had fuses of foreign manufacture.

Krasnaya Zvezda also reports that the drones used modern GPS based guidance systems of a sort never used by a terrorist organisation or militia before.

Whilst the operations room which planned and presumably supervised the attack would not need to be in the same area as the launch site, the fact that such a complex attack was launched from there suggests that the Jihadis present in the area were confident that the Turkish military would leave them undisturbed.

Of possibly even greater concern for the Russians than the drone strike on 6th January 2018 was the mortar attack on Khmeimim air base on 3rd January 2018.

Read More @ TheDuran.com

If The Bond Bull Market Is Over….

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by Karl Denninger, Market Ticker:

….. then so is the bull market in equities, real estate, and damn near everything else.

Folks, I’ve written more articles than I can count on the utter nonsense of alleged “GDP and economic growth” fueled by debt-based expansion.  Specifically, nobody ever pays off their debt in the larger context.

I’ve noted many times that despite the so-called “financial crisis” commercial loans outstanding never went down.  Not once, for even one quarter.  In addition state and local governments never pay down their debts either; they roll them over.

And why not?  You borrow a million at 10% interest, you must pay $100,000 in interest per year.  But a “bond bull market” means when the year, two or ten is up you can refinance it at a lower rate.  Now that $1 million costs $50,000 (if the rate is now 5%.)  Why not borrow another million, since you can cover the $100,000 interest payment?

When the rate of interest reaches 1% you now have $10 million out, or ten times as much.

Where do you think all the “buybacks” came from?  Where do you think all the consumer credit came from (yes, I know, your interest rate on your credit card didn’t go to 1%, but the bank’s loan to get the money to let you have did.)

So we did all that; Obama doubled the national debt during just a few short years.  But don’t blame just him — look at what Bush did before him and then look at Trump who put over $600 billion on the national debt during his first year in office too.

Oh, those “tax cuts”?  That’ll boost it further.

That only works when rates are generally declining and you can thus issue the new debt and roll over the old to keep borrowing more money while paying a lesser or equal amount in interest.

If rates rise then the game’s over for one simple reason: When you go to refinance that bond the amount you must pay to keep the same amount of money borrowed outstanding goes up and you don’t have it.

You also don’t have the cash to redeem the bond in question because you spent it on some form of consumption — it’s gone.

So what happens to “valuations” across the board — stocks, houses, commercial buildings, etc — when the 71:1 leverage (what the fairly recent ~1.4% ten year Treasury rate amounts to) goes to this morning’s 2.6% and thus represents a 38:1 leverage ratio — pretty close to being cut in half.

That’s pretty simple — you have to come up with roughly half of the money you borrowed because otherwise the interest payment is going to double and you don’t have either half of what you borrowed or the doubled interest payment.

Valuations are “reasonable” eh?  Sure they are — the leverage base on which they’re predicated just got cut by 50%.

Oh by the way the 5-year move is even more-impressive; it has gone from a 200:1 leverage ratio to 42.6:1 or a contraction of approximately 79%.

Read More @ Market-Ticker.rg

BREAKING: O’Keefe Drops 2nd Undercover Video=> Twitter Engineers Brag About Banning Pro-Trump Accounts

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by Cristina Laila, The Gateway Pundit:

Early Wednesday morning, Project Veritas revealed Twitter is willing to hand over President Trump’s private messages to the Justice Department without a search warrant.

O’Keefe’s 2nd undercover video shows Twitter employees talking about how they target pro-Trump accounts by banning them or hiding their content.

O’Keefe released a video Wednesday afternoon warning about the next video release exposing Twitter.

“Tomorrow we have multiple employees at Twitter talking specifically how they censor people for their ideas and some of the engineering involved,” O’Keefe said.

Via Project Veritas:

Steven Pierre, Twitter engineer explains “shadow banning,” says “it’s going to ban a way of talking”

Former Twitter software engineer Abhinav Vadrevu on shadow banning: “they just think that no one is engaging with their content, when in reality, no one is seeing it”

Former Twitter Content Review Agent Mo Norai explains banning process: “if it was a pro-Trump thing and I’m anti-Trump… I banned his whole account… it’s at your discretion”

When asked if banning process was an unwritten rule, Norai adds “Very. A lot of unwritten rules… It was never written it was more said”

Olinda Hassan, Policy Manager for Twitter Trust and Safety explains, “we’re trying to ‘down rank’… shitty people to not show up,” “we’re working [that] on right now”

“Shadow banning” to be used to stealthily target political views- former Twitter engineer says, “that’s a thing”

Censorship of certain political viewpoints to be automated via “machine learning” according to Twitter software engineer

Parnay Singh, Twitter Direct Messaging Engineer, on machine learning algorithms, “you have like five thousand keywords to describe a redneck…” “the majority of it are for Republicans”

Video via Project Veritas:

Read More @ TheGatewayPundit:

WARREN BUFFETT: BITCOIN WILL ‘DEFINITELY COME TO A BAD ENDING’

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from The Daily Sheeple:

Berkshire Hathaway’s CEO Warren Buffett said that not only will his firm never have a position in cryptocurrencies, but that the ending is coming for them and it will be a bad one.

“Stay away from it,” Buffett said at one time of Bitcoin. “It’s a mirage basically. The idea that it has some huge intrinsic value is just a joke, in my view.” Of course, at the time he made those comments, Bitcoin was priced at about $640. Now (at the time of this writing) it’s trading above $14,500.

At a Q&A session with business students in October, Buffett was again asked about bitcoin, to which he replied that the cryptocurrency is a “real bubble.”

In October of last year, Buffett told students at a Q&A that they should not value Bitcoin because it has no value. “You can’t value bitcoin because it’s not a value-producing asset,” Buffett said, according to MarketWatch. But Buffett, who is known for his patience and resolve, is still sticking to his guns and staying far away from the cryptocurrency.

“We don’t own any; we’re not short any,” Buffett said in an interview on CNBC of cryptocurrencies, such as Bitcoin and Ether. “We’ll never have a position in them.”

Bitcoin, the cryptocurrency that surged 1,327% in 2017 to become the largest, is off to a shakier start this year along with Ripple’s XRP, while ether, the second-largest, has risen to all-time highs. “What’s going on definitely will come to a bad ending,” Buffett said.

Buffett’s comments came a day after JPMorgan CEO Jamie Dimon said he regretted calling bitcoin a “fraud.” But others, such as Peter Schiff, believe that Bitcoin’s actual worth, is $0, and at some point, it will return to that amount.

Read More @ TheDailySheeple.com

 

HELEN CALDICOTT: THE FUKUSHIMA NUCLEAR MELTDOWN CONTINUES UNABATED

by Helen Caldicott, Collective Evolution:

This article has been republished here from Greenmedinfo.com , a more in-depth analysis appeared from The Independent in Australia. 

Dr Helen Caldicott, has devoted the last forty two years to an international campaign to educate the public about the medical hazards of the nuclear age and the necessary changes in human behavior to stop environmental destruction.  You can follow Dr Caldicott on Twitter @DrHCaldicott. Click here for Dr Caldicott’s complete curriculum vitae.

 Below, she explains recent robot photos taken of Fukushima’s Daiichi nuclear reactors: radiation levels have not peaked, but have continued to spill toxic waste into the Pacific Ocean — but it’s only now the damage has been photographed. 

RECENT reporting of a huge radiation measurement at Unit 2 in the Fukushima Daichi reactor complex does not signify that there is a peak in radiation in the reactor building.

All that it indicates is that, for the first time, the Japanese have been able to measure the intense radiation given off by the molten fuel, as each previous attempt has led to failure because the radiation is so intense the robotic parts were functionally destroyed.

The radiation measurement was 530 sieverts, or 53,000 rems (Roentgen Equivalent for Man). The dose at which half an exposed population would die is 250 to 500 rems, so this is a massive measurement. It is quite likely had the robot been able to penetrate deeper into the inner cavern containing the molten corium, the measurement would have been much greater.

These facts illustrate why it will be almost impossible to “decommission” units 1, 2 and 3 as no human could ever be exposed to such extreme radiation. This fact means that Fukushima Daichi will remain a diabolical blot upon Japan and the world for the rest of time, sitting as it does on active earthquake zones.

What the photos taken by the robot did reveal was that some of the structural supports of Unit 2 have been damaged. It is also true that all four buildings were structurally damaged by the original earthquake some five years ago and by the subsequent hydrogen explosions so, should there be an earthquake greater than seven on the Richter scale, it is very possible that one or more of these structures could collapse, leading to a massive release of radiation as the building fell on the molten core beneath. But units 1, 2 and 3 also contain cooling pools with very radioactive fuel rods — numbering 392 in Unit 1, 615 in Unit 2, and 566 in Unit 3; if an earthquake were to breach a pool, the gamma rays would be so intense that the site would have to be permanently evacuated. The fuel from Unit 4 and its cooling pool has been removed.

But there is more to fear.

The reactor complex was built adjacent to a mountain range and millions of gallons of water emanate from the mountains daily beneath the reactor complex, causing some of the earth below the reactor buildings to partially liquefy. As the water flows beneath the damaged reactors, it immerses the three molten cores and becomes extremely radioactive as it continues its journey into the adjacent Pacific Ocean.

Read More @ Collective-Evolution.com