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"Borrowing more money to solve the debt crisis is like drinking a bottle of scotch to solve inebriation." --
The Philippine Coast Guard (PCG) on Saturday spotted more than 40 Chinese vessels near Pag-asa, one of the islands occupied by Manila in the South China Sea.
Coast Guard personnel stationed on the island – also known as Thitu – reported a People’s Liberation Army (PLA) Navy vessel, a China Coast Guard (CCG) vessel, and 42 suspected maritime militia vessels, anchored within 4.5 to 8 nautical miles of the shore.
The PCG said this was “clearly inside the land feature’s 12-nautical mile territorial sea.”
UBS has agreed to buy Credit Suisse after increasing its offer to more than $2 billion following urgent talks today.
The banking giant will pay more than 0.50 francs ($0.5401) a share in its own stock, far below Credit Suisse's closing price of 1.86 francs on Friday, FT reported, citing sources.
The Swiss National Bank has agreed to offer a $100 billion liquidity line to Credit Suisse as part of the deal, the FT added, citing two people familiar with the matter.
Harvard Law Professor Alan Dershowitz has broken his silence on the bombshell news that President Donald Trump expects to be arrested Tuesday.
Manhattan District Attorney Alvin Bragg’s office is reportedly preparing to arrest Trump.
Bragg, who was installed by George Soros, is planning to bring criminal charges against Trump stemming from a $130,000 payment to Stormy Daniels.
Dershowitz weighed in on the case, saying: “There are two systems of justice in the United States and our justice system is in deep trouble.
“We’ve created a special system of justice for Donald Trump.
“This is selective, targeted prosecution.
A Louisiana judge threw the book at a man convicted of raping a child by ordering the pervert to be chemically castrated.
After Ryan Clark, 34, pleaded guilty to felony second-degree rape, molestation of a juvenile under 13, and sexual battery, Judge Brian K. Abels dropped the hammer.
The judge sentenced Clark to 35 years in prison with the first 25 years to be served without the possibility of parole.
Abels also ruled that Clark must register as a sex offender for life, forfeit all parental rights, never contact his victims, and submit to chemical castration before he is ever released back into society.
So going after Trump for a misdemeanor seems like petty politics.
And when you look at the skeleton that just crawled out of Hillary Clinton’s closet, the New York case looks even more political.
Because Hillary Clinton was busted breaking campaign finance laws and paid a fine, along with the DNC, to settle the issue.
She was not arrested.
Republican House Judiciary Committee Chairman Jim Jordan (R-OH) has blasted the “sham” plans by Democrat prosecutors in New York to arrest President Donald Trump next week.
Jordan warned that “real America” knows the truth behind the anti-Trump effort.
“God Bless President Trump,” Jordan wrote on Twitter.
“Real America knows this is all a sham.”
President Joe Biden has called on Congress to toughen penalties against the executive of collapsed banks.
Biden recommended that executives of failed banks should be banned from working in the banking sector again.
The White House released a plan to hold senior management more accountable when their financial institutions collapse and enter Federal Deposit Insurance Corporation (FDIC) receivership.
In addition, the Biden admin is urging Congress to make it easier for federal regulators to punish bank executives when they engage in mismanagement and take excessive risks.
The announcement on Friday highlighted recent reports that show Silicon Valley Bank (SVB) executives dumping shares before the collapse.
Broaddrick, who accuses former President Bill Clinton of raping her in 1978, fired back at Pelosi’s remarks.
“Oh give me a f*cking break,” Broaddrick blasted.
“You are one of the biggest crooks in Congress with your insider trading.
“And that drunk you’re married to should be in jail for all the DUI’s and wrecks he has caused.
“You’re not out of the woods yet, on your J6 scam, either.”
An oral vaccine developed by Microsoft co-founder Bill Gates’ foundation has triggered a polio outbreak in the African country Burundi, according to reports.
Health officials have reported that seven children have been paralyzed by the virus so far.
The children were paralyzed by vaccine-derived polio linked to the new nOPV2 polio vaccine, according to health officials in the Democratic Republic of the Congo and Burundi and the Global Polio Eradication Initiative (GPEI)
The nOPV2 polio vaccine was developed by the Bill & Melinda Gates Foundation.
The Bill & Melinda Gates Foundation, a GPEI partner, funded the development and clinical trials for the nOPV2 vaccine.
Burundi has now declared a national emergency after confirming eight cases of the virus, the World Health Organization (WHO) said in a statement.
President Biden denied that his family received more than $1 million in payments from accounts related to Hunter Biden’s business associate Rob Walker and their Chinese business ventures in 2017, even though financial records indicate otherwise.
On Thursday, GOP lawmakers on the House Oversight Committee revealed that they had obtained bank documents showing that Hunter Biden, the president's brother Jim, and Hallie Biden, the widow of his son Beau, received payments from Hunter's business associate Rob Walker and their joint venture with Chinese energy firm CEFC. A spokesperson for Hunter Biden's legal team confirmed the payments Thursday but emphasized that the recipients' accounts "belonged to Hunter, his uncle and Hallie – nobody else."
However, Biden denied that the payments were made when confronted by a reporter on the White House lawn Friday.
Signature Bank is on the market after being shuttered by New York state regulators on Sunday, but any potential buyer reportedly has to agree to a major caveat: no crypto.
Reuters first reported the development on Wednesday evening, citing people familiar with the matter. The Federal Deposit Insurance Corp. said bids for the bank must be submitted by Friday, the report said.
The New York-based bank’s weekend closure came two days after the collapse of another bank, California-based Silicon Valley Bank, and less than a week after the voluntary closure of another California-based bank, Silvergate Bank. All three of the now-defunct banks were considered crypto-friendly financial institutions.
The sudden collapse of Silicon Valley Bank on Mar.ch10 caused the most serious crisis of confidence in banks since the Great Financial Crisis of 2008, which devastated the global economy and threatened to bring the financial system to its knees.
The Californian bank had bet on interest rates, by investing in high quality bonds. The problem was that SVB (SIVB) - Get Free Report bought these bonds and mortgage-backed securities when interest rates were low and did not protect itself in the event that rates rose. The bank simply did not hedge its risk.
When the Federal Reserve began raising interest rates from the second half of 2021, the bank's bonds began to lose value. This problem coincided with the fact that SVB's clients -- mostly startups and venture capital firms -- could no longer easily find cash to finance their operations and projects, as was the case during the pandemic, a period during which the federal government had printed money in large quantities.
These startups consequently started to dip into their deposits. SVB had no choice but to sell part of its bond portfolio and other securities to satisfy these withdrawal requests. As a result, the bank had to suffer a net loss of $1.8 billion during these sales and therefore needed to raise $2.25 billion to shore up its liquidity.
Things between the United States and Russia were already tense, but relations have reached a new low after Russia was accused of downing an American drone in the Black Sea.
Chinese President Xi Jinping is scheduled to visit his best friend, Vladimir Putin, to show the world his support for Russia.
According to NY Post, “Both China and Russia have confirmed the planned visit, with the Kremlin saying that Xi will be staying in Moscow from Monday to Wednesday at Putin’s ‘invitation.’”
The trip to Moscow will be President Xi Jinping’s first visit outside the country since his third term began. It will also be one of his first meetings with Putin since the situation in Ukraine began.
A former federal prosecutor warned Saturday that former President Donald Trump's social media post sharing details of his expected arrest could see him denied bail.
Trump claimed on his Truth Social account that the Manhattan DA's office will arrest him on Tuesday - and branded the probe 'corrupt and highly political', calling the alleged hush money payment an 'old and fully debunked fairy-tale.'
Glenn Kirschner, an MSNBC legal analyst, has compared the all-caps rant to his posts leading up to the Capitol riot on January 6, 2021 - and said it could affect the terms of his release.
He speculated that a judge could interpret Trump's post as an attempt to incite a crowd to riot - raising the specter of him being held behind bars to prevent him posting further inflammatory communications ahead of any trial.
'I would slap a government exhibits sticker on this post and I would introduce it as his criminal trial,' Kirschner explained.
Kari Lake joined Bannon’s War Room this morning to discuss the new poll results from Rasmussen showing that Lake likely beat Katie Hobbs by a landslide in the 2022 Midterm Election, which was stolen from Lake and other Trump-Endorsed candidates in Maricopa County.
Lake also spoke about her ongoing Arizona Supreme Court battle over the rigged election and the upcoming conference Tuesday, March 21. “At the conference, the Court will decide whether to accept review and schedule an oral argument,” states the Court’s order.
When asked whether she would take her election lawsuit beyond the Arizona Supreme Court to the US Supreme Court if necessary, Lake told The Gateway Pundit, “There’s a very good chance that I would. These bastards stole our election, and I will not let them off the hook.”
On Friday, Georgia Congresswoman Marjorie Taylor Greene said she was receiving reports that January 6 detainees were being moved out of DC jails, following a demand from congressional GOP that they be allowed to inspect the condition of the facilities, as reports of "abuse and neglect" had emerged.
"What is the DC Jail trying to hide by moving pretrial J6 defendants out of the jail before we go in?" Greene wrote on Twitter and retweeted American Greatness writer Julie Kelly reporting that "that some J6ers being moved out of DC Gulag in advance of GOP investigation into conditions there."
Everyone is in favor of “doing whatever it takes” to “restore financial stability” when the house of cards starts swaying, but funny things happen on the way to “Restoring Financial Stability.” Whatever “emergency measures” are rushed into service to “stabilize” an inherently unstable system resolve the immediate problem but opens unseen doors to new sources of instability that eventually trigger another round of systemic instability that must be addressed with more “emergency measures.”
These unintended consequences proliferate as policy extremes are pushed to new extremes, and “emergency measures” become permanent sources of the very instability they were supposed to eliminate.
As @concodanomics recently observed on Twitter: “A major flaw of finance is that it nearly always mutates the very instruments meant to protect investors into crisis-inducing time bombs.”