ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Nov 22 08:09

MADURO PLEDGES 30 MILLION BARRELS OF OIL TO BACK PETRO CRYTOCURRENCY

Venezuela will use some 30 million barrels of oil it has in storage as backing for its national cryptocurrency, the petro, Reuters reports, citing a speech by President Nicolas Maduro.

“I will deliver these 30 million of barrels as a liquid, physical, material backing for the petro,” Maduro said on Venezuelan television. “The inventories of crude and products in storage tanks are available for immediate commercialization ... to sustain and back the operations of the sovereign Venezuelan crypto-asset, the petro.”

Earlier this month, Maduro said the petro had more than 27,000 “affiliated businesses” already and the number was expected to increase twofold in the next few months.

Webmaster's Commentary: 

Congrats, President Trump; your policy toward Venezuela, have pushed it into an even more "tight" economic alliance with China and Russia than ever before, well done, sir!!

(Sigh) Mr. President, a word, please: your, and your Administration's policies toward Venezuela, have been damned near insane.

I would suggest to you, as bluntly as I can politely, that Venezuela is not most probably going to fall further than it already has, because China and Russia will support Maduros in any way they can, stepping in with food, medicine, etc., to keep the situation here for working people no worse than it already is.

And if the petro does succeed, perhaps way beyond Maduros' wildest expectations, you will find another, very solid currency with which the US dollar most probably cannot compete.

So now, what, sir?!?

To any casual observer of American foreign policy, its execution appears to be foreign policy by dart-board; and not all of the players are using the same dart-board, Mr. President; and THAT is where this country can get into one hell of a lot of problems, sir.

Nov 22 06:49

IRAN LAUNCHES MAJOR AIR DEFENCE DRILL SIMULATING WAR IN GULF

SOURCE: MIDDLE EAST MONITOR

The Iranian armed forces today launched a major air defence drill codenamed “Guardians of Velayat’s Sky-98” in the northeastern province of Semnan, local media reported.

Air Defence Brigadier General Alireza Sabahifard said yesterday that the manoeuvres were being held across an area of some 416,000 square kilometres and will simulate a conflict in the Gulf, especially over the Strait of Hormuz.

“If the enemy intends to invade, attack or even infringe on our country’s skyline, which is one of our red lines, we can deal with it,” he said.

The manoeuvres come as tensions between Iran and the United States and Saudi Arabia persist in the Gulf region.

Webmaster's Commentary: 

Looking at the overt hostility against the Iranian government, and Syria, can one blame the Iranian government for doing these defensive drills?!/

The short answer is, "HELL, no!!"

Allegedly Iranian targets in Syria have been hit by Israel, right outside of Damascus last Tuesday:

Israel carries out ‘wide-scale strikes’ on Iranian forces in Syria

The Iranian leadership may be many things, but one of them is NOT stupid; they believe they know what is coming, and they are probably correct in that assessment. The question is, when.

I am also deeply concerned about the timing of the deployment of 3,000 more US troops to Saudi Arabia.

One of the most uniquely iconic American holiday is coming up next week, and that is our Thanksgiving celebration; I would't put it past Israel's IDF and/or Shin Beit, to be "cooking up" a little false flag, where Americans or American assets are hit intensely, and then off the US military goes, creating more "hot war " in Syria, and against Iran.

Russia has already been assisting Syria in battling US trained, funded, and armed Jihadis who have attempted to regime-change Syria; and please remember what the Russian government has told the Iranian government earlier this year; Iran won't be alone, if the US attacks

When a Russian official makes that kind of promise, diplomatically, you can absolutely bet that such a promise is iron-clad, in terms of Russia following through on it.

And to those who eyeball this site for all the Alphabet Soup agencies out there; (and you know who you are!! :-)); the Pentagon; State Department; and the White House, I would politely, but strongly caution this government, that an attempted decap strike against either Tehran or Damascus, would be the most ham-fistedly, pig-headedly stupid thing this country could do right now, and primarily because of Russia's war capacities we do cannot match at the moment.

We do not conscript (Russia does; Conscription in Russia)); they unfortunately have some absolutely kick-ass weapons (to which our weapons designers are frantically attempting to catch up; we don't have the manufacturing; and at a Federal Deficit of approximately $ 1 trillion dollars, and rising Explainer: What you should know about federal deficits, a war with Iran and Syria will almost inextricably mean war with Russia.

Nov 22 06:24

MEASURE ON 'ARMENIAN GENOCIDE' BLOCKED AGAIN IN US SENATE

A Republican United States Senate member on Thursday blocked a resolution recognising the "Armenian genocide", the second time in a week that a member of President Donald Trump’s party halted the measure.

Senator David Perdue prevented a bipartisan effort to pass the resolution by unanimous consent, arguing that its passage during a sensitive period "would undermine the administration’s commitment to overcoming real challenges in our bilateral relationship with Turkey".

The move angered Senate Democrat Robert Menendez, whose effort had been rebuffed the previous week after Republican congressmen met with visiting Turkish President Recep Tayyip Erdogan.

"It is amazing to me that the greatest superpower on the face of the earth just can’t speak [the] truth of history," Menendez said.

Webmaster's Commentary: 

Unfortunately, when geopolitical issues overshadow the right calling of history (as in the case of the Armenian Genocide by Turkey) truth, again, becomes the first casualty of those issues.

The Armenian Genocide of 1915

But we have to realize that modern day Turkey is NOT a part an Ottoman Empire, which crumbled in 1922, so it cannot be held responsible for the horrors inflicted by Ottoman soldiers on the Armenian people.

What I think we need here, as they did in South Africa, is for there to be a "Truth and Reconciliation Committee", headed up by both Armenian and Turkish Academics, to address the wrongs which were done in the name of the Ottoman Empire, and look at how Armenians and Turks can resolve those old animosities in the 21st century.

This would be a reasonable, sane way to address history; be informed by it; but be able to look way past old hatreds at each other, and recognise each as brother and sister human beings, not just as Armenians and Turks.

Both countries have a very proud, rich, and culturally intelligent story to tell; let the story of a 21st relationship between these countries be one of trust; hope, and discovering what unites them in common.

Nov 21 15:26

U.S. Lawmakers Demand Amazon Disclose How Ring Stores Data

By Aaron Kesel

U.S. lawmakers are demanding that Amazon tell them more about how Ring, Amazon’s surveillance network, is protecting consumer data. They cited the potential for the sensitive footage “detailing the lives of millions of Americans” to fall into the hands of hackers and foreign spies...

Nov 21 14:14

9 Signs You Have Magnesium Deficiency

Magnesium is arguably the most important mineral in the body, which is why magnesium deficiency can be such an issue.

According to Norman Shealy, MD, Ph.D, an American neurosurgeon and a pioneer in pain medicine, “Every known illness is associated with a magnesium deficiency and it’s the missing cure to many diseases.” Not only does magnesium help regulate calcium, potassium and sodium, but it’s essential for cellular health and a critical component of over 300 biochemical functions in the body.

https://sorendreier.com/marijuana-users-watch-out-for-magnesium-defici...

Nov 21 12:44

One Hundred Exhortations: Why We Hate Airports

By Jeffrey A. Tucker

Not for at least six months or so had I been in an airport. It was my choice. The trains are just too wonderful: no scans, solid internet at no extra charge, large seats, glorious scenery. There is a nice code of etiquette that emerges organically from passengers; it’s not piped in over loudspeakers. You get one announcement at each stop and nothing else.

Riding the train feels like you are living in an older, freer America. I would gladly double my travel time if it meant taking the train over the plane.

One can’t avoid flying forever. So setting out on plane travel this weekend, I decided to figure out precisely what it is that is so horrible about flying these days.

Why is it that I’ve come to dread the whole thing?...

Nov 21 09:35

QE v Managing Benchmark Rates

Nov 21 09:28

The Fed Slaps Down Negative Interest Rates

Nov 21 09:28

Hong Kong Sliding Like It's 2008

Nov 21 09:18

Trump, Pompeo, and global organized criminal network

The Iranians get it! They call the New World Order,Organized Psychopathy!

By Walt Peretto

US President Donald Trump and Secretary of State Michael Pompeo are now employing the use of sanctions against Iran to foment dissent of its citizenry against their government.

Nov 21 08:57

FOMO in Full Force

Nov 21 08:57

Countries Ranked by Their Economic Complexity

Nov 21 08:51

Maryland Transit Police “Fare-Skipping” Sweeps Finally Ruled Unconstitutional

By MassPrivateI

Over the past four years, Baltimore, Maryland commuters have been subjected to Maryland Transit Authority (MTA) police “fare-skipping” sweeps.

WJZ 13 News reported that the MTA police have been conducting “fare-skipping” sweeps on light trains since 2015.

“There’s police officers and fare enforcement officers on every train all day long. They’re on all the trains,” MTA Administrator Paul Comfort said.

The MTA police even went so far as to create a fare “Sweeps Month” that transit police boasted would help catch fare-skipping commuters...

Nov 21 07:10

Mother of All Financial Crises

Nov 20 19:04

China, USA and the Geopolitics of Lithium

For several years since the global push to develop mass-scale Electric Vehicles, the element Lithium has come intofocus as a strategic metal. Demand is enormous in China, in the EU and in the USA at present, and securing control over lithium supplies is already developing its own geopolitics not unlike that for the control of oil.......

Nov 20 17:47

Brew Ha-Ha: “F— PG&E” Beer for Californians Fed Up with the Criminally Negligent Utility Company

By B.N. Frank

Trouble has actually been brewing for California utility company, Pacific Gas & Electric (PG&E) for many years now. It’s not only about deadly wildfires and planned blackouts either...

Nov 20 11:17

The Calm Before the Economic Storm

Nov 20 10:14

VIX WARNS OF IMMINENT STOCK MARKET CORRECTION

Nov 20 07:21

Fannie Mae Takes Lead In Mortgage Risk Taking

Nov 20 06:24

Gold in CNY ripe for another leg up.

Nov 20 06:14

Merry Christmas from Central Banks

Nov 20 06:07

  US NATIONAL DEBT SPIKED BY $1.3 TRILLION IN 12 MONTHS, TO $23 TN. BUT WHO BOUGHT THIS PILE OF TREASURY SECURITIES?

BUT WHO THE HECK IS BUYING ALL THIS DEBT?
Every dollar of this debt exists in form of Treasury securities that someone must have bought and must own. In terms of foreign holders, we got some answers in the Treasury Department’s TIC data today, which shows how much of this debt was held, bought, or dumped by foreign investors through the end of September. And we can glue the other pieces together from the Fed’s balance sheet and from the Treasury Department’s disclosures.

FOREIGN HOLDERS DUMPED IN SEPTEMBER BUT ARE WAY AHEAD YEAR-OVER-YEAR.
All foreign investors combined – “foreign official” holders such as central banks and foreign private-sector investors of all stripes – dumped $84 billion in US Treasury securities in September. But compared to September 2018, their holdings were up by a massive $551 billion.

Nov 20 03:37

HOUSE PASSES MONTH-LONG SPENDING BILL WITH TWO DAYS UNTIL SHUTDOWN

The House on Tuesday approved a stopgap spending bill, this time hoping to kick the can on full-year appropriations to Dec. 20.

The measure will now go to the Senate, which is expected to approve the bill before the current continuing resolution expires Thursday. The White House has indicated President Trump will sign the stopgap spending bill to avoid a shutdown. Federal agencies have been operating under a CR since Oct. 1.

Lawmakers negotiated the month-long temporary spending bill to give leadership more time to finalize full-year measures for fiscal 2020, which would set line-by-line appropriations for each federal agency. Still, House Republicans overwhelmingly voted against the stopgap bill.

Webmaster's Commentary: 

No one in Congress really cares about the long-term effect of US debt and deficit, because they are only focused on the next election cycle.

Nov 19 17:53

If History Repeats, Gold Is Headed To $8,000

Nov 19 12:52

As Gold Soars, Silver Readies to Catch Up

Nov 19 12:27

The Repo Crisis

Nov 19 09:28

CNBC is careful to admit that owning GLD is not owning gold

Chris Powell of GATA writes today about how he finds it interesting that CNBC are careful to admit that owning the GLD ETF is not the same thing as owning physical gold, a theme that has run strongly throughout our market commentaries for many years.

He writes…

Two cheers for today’s CNBC report celebrating the 15th anniversary of the gold exchange-traded fund GLD, since the report does not pretend that owning GLD is the same as owning the monetary metal itself.

Nov 19 08:52

Repocalypse: The Little Crisis that Roared

Nov 19 08:34

Serious Weakness Underway

Nov 19 07:54

All Eyes On OPEC As Another Oil Glut Looms

Nov 19 06:40

The Booms and Busts of American Home Prices

Nov 19 06:37

POMPEO ISSUES HISTORIC POLICY REVERSAL: ISRAELI WEST BANK SETTLEMENTS 'NOT ILLEGAL'

SOURCE: ZERO HEDGE
In a major, if entirely expected, complete reversal of Obama-era policy on the Middle East, Secretary of State Mike Pompeo announced Monday the Trump administration is reversing the official US stance on the illegality of Israeli settlements in the West Bank.

“After carefully studying all sides of the legal debate, this administration agrees with President Reagan,” Pompeo said in reference to Reagan’s view that settlements were not inherently illegal. “The establishment of Israeli civilian settlements in the West Bank is not per se inconsistent with international law,” Pompeo said.

“The Trump administration is reversing the Obama administration’s approach towards Israeli settlements. U.S. public statements on settlement activities in the West Bank have been inconsistent over decades.”

Webmaster's Commentary: 

Secretary of State Pompeo, are you flipping kidding me?!?

By this "logic", you have started down the "slippery, bloody slope" which will soon necessitate your supporting the following:

1. " Palestine never existed."
2. "All Palestinians who protest peacefully should be shot on sight, including infants and toddlers."
3. Palestinian children should be indefinitely jailed, and if necessary, tortured for "information" on the adults in their family and neighborhood who have said, or done anything, which was anti-Israel in nature, and forced to sign confessions in a language they can neither read, write, nor speak (Hebrew).

As you are well aware, all of these practices have been painstakingly documented to exist.

Also, as you are well aware, the way in which these settlements have been engineered, translates as to a total impossibility for there to be a contiguous Palestinian state, as documented by the following article in January of this year, from the Foundation for Middle East Peace:: Settlement Report: January 11, 2019

The article goes on to state: "Israeli officials have argued that the now-open road should resolve international objections to building the E-1 settlement, since it preserves “transportational continuity” by providing a route for Palestinians to travel between between the northern and southern parts of the West Bank, as a substitute for territorial contiguity of a future Palestinian state).

When construction on the road resumed in 2017 after being stalled for a long period, Peace Now explained:

“If the road will be completed…Israel will be able to argue that Israeli construction in the area does not separate the West Bank because there is a transportation route for Palestinians. This argument, of course, is baseless because a thin line of road that connects separated territorial sections (creating ‘transportational continuity’) does not meet the need for the territorial contiguity essential for the development of East Jerusalem and the Palestinian metropolis. Without these territories, a viable independent Palestinian state cannot be built and prosper, and this could mean the death of the two-state solution.”

Secretary of State Pompeo, I very politely, and gently, urge you to step back from this precipice where you are taking the world, sir; and that precipice is a world war, the outcome of which cannot be pre-determined, and may destroy life on earth as we have known it.

Nov 19 06:26

Corporate cash flow turning?

Nov 18 19:36

Solar Panels Produce Tons of Toxic Waste—Literally

By Bill Wirtz

Beyond the clear misallocation of resources and energy market price distortions, there is a further environmental problem associated with solar panels.

Beyond the inefficient use of these resources to begin with (in the process of making crystalline silicon from silicon, as much as 80 percent of the raw silicon is lost), there are numerous human health concerns directly related to the manufacture and disposal of solar panels...

Nov 18 17:50

How Central Banks Steal From Savers

Nov 18 17:48

US Dirty Hands Behind Violent Protests in Iran?

All sovereign independent countries not subservient to US interests are on its target list for regime change — by preemptive wars, color revolutions, old-fashioned coups, targeted assassinations, economic terrorism, and/or other hostile actions.

Color revolutions are a US specialty. So-called spontaneous uprisings are well-planned in advance by the CIA, the undemocratic National Endowment for Democracy, and other US agencies.

A color revolution was first used to oust Serbia’s Slobodan Milosevic in 2000. Opposition elements were recruited and trained by the US for what played out.

Nov 18 16:42

Nolte: ‘Charlie’s Angels’ Is Fifth Woketard Franchise to Die at Box Office

The 2019 reboot/sequel of Charlie’s Angels just opened to a catastrophic $8 million, making it the fifth man-hating, woketard franchise to get wiped out at the box office.

Angels, which was written and directed by Elizabeth Banks, is not only under-performing expectations by about 50 percent, it got run over by Ford v Ferrari, a movie about real men who throw punches and burn fossil fuels.

On top of being number one at the box office with a $30 million opening, Ford v Ferrari over-performed by about 50 percent.

Having seen and reviewed both, I can tell you that none of this has to do with gender.

Angels is a failure because it features unappealing actresses who are more interested in lecturing us than showing us a good time. The film’s trailers promised a pretentious feminist lecture full of man-hating… and the sexless movie delivered.

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