Gold has been slammed down again, but gold moved up and is continually resisting. Harvard study show an increase of minimum wages causes a 4-10% chance of restaurants closing. IBM tumbles as earnings collapse. Used car prices are plunging as leases are coming due, this is not going to go well for the auto manufacturers.Mortgage rates fall a little which did not help applications. Mnuchin covers for Trump about the dollar, Trump is setting him up. Larry Fink warns of dark signs ahead. The economy is being brought down, everything is in place. Maduro is ready to sell all the gold for dollars. Trump asks the people to call their congressman to repeal Obamacare. The FBI used the fake dossier to get a FISA warrant to spy on Carter Page. Corporate media making a big deal that F22 fighters intercepted a Russian bomber that was following international law. Pentagon Fed the corporate media fake news about the air craft carriers and the corporate media found out, this is why they are trying to make sense of all this. USS satellite shows a volleyball game being played at the nuclear site where the test is going to be held.Trump is ok with the Iran deal, Iran sanctions will be removed. Corporate media and the deep state using the same tactics to get us into a conflict just like Iraq and Libya.
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Current News – 04.19.2017
- Yesterday, ahead of the London Fix, Gold was monkeyhammered lower on yuuge volume, only to rip back higher.
- Today, having failed to keep the precious metal down (25,000 contracts dumped in a minute), they went for it again with a $3 billion notional pummeling in futures…
- Despite the second slam in as many days into the London Fix…Gold is trading near the highest in five months, and, as Bloomberg notes, at least one measure suggests the rally is gaining momentum.
- A ‘shocking’ discovery was made when a pair of researchers at Harvard Business School decided to analyze the impact of higher minimum wages in San Francisco on restaurant failures…hint: they went up.
- Entitled “Survival of the Fittest: The Impact of the Minimum Wage on Firm Exit“, this latest study on the devastating consequences of minimum wage was conducted by Dara Lee Luca and Michael Luca and concluded that each $1 increase in the minimum wage results in a roughly 4-10% increase in the likelihood of a restaurant going out of business
- IBM went negative to the tune of -23.1%.
- this was also the 20th consecutive quarter of declining revenues for the company which lately can’t seem to get any traction on the top line.
- , Hertz and Avis dump about 400,000 vehicles per year into the used car market and operate fleets that are multiple times larger.
- And with used car prices plunging, bondholders are starting to get slightly anxious about the collateral impact of writing down billions of dollars worth of capital assets.
Debt issued by Hertz Global Holdings Inc. and Avis Budget Group Inc., which had traded at or above par in recent years, tumbled to new lows earlier this month amid signs that used-vehicle prices are dropping twice as much as expected. That’s bad news for companies that collectively have to dispose of about 400,000 vehicles a year, and especially for Hertz, whose junk-rated debt is teetering close to a downgrade.
Combined with closely held Enterprise Holdings Inc., the three companies control more than 95 percent of the U.S. rental fleet, according to Manheim.
- Of course, as J.D. Power pointed out in it’s most recent “NADA Used Car Guide Industry Update,” the flood of lease returns has just started to push used car prices lower….
- …all of which Morgan Stanley thinks could spark a 50% decline in used car prices over the coming of years.
- U.S. mortgage application activity fell last week despite borrowing costs on 30-year home loans declining to their lowest levels since November,
- The Washington-based industry group said its measure on mortgage applications decreased to 1.8 percent to 395.6 in the week ended April 14.
- One week after Donald Trump, in an interview with the WSJ, sent the dollar tumbling in its biggest one day drop in months, Treasury Secretary Steven Mnuchin has been engaging in damage control with not one but two appearances , first stating that in the “long-run” a stronger dollar is beneficial for the US economy on Monday, and then again making headlines overnight when he said that Donald Trump is “absolutely not” trying to talk down the strength of the dollar,
- Larry Fink, CEO of Blackrock, provided some rather dark warnings about the U.S. economy saying there are signs of slowing as businesses weigh whether the Trump administration will be able to pass tax reform and an infrastructure program quickly.
- Among other things, Fink said that “the warning signs are getting darker” and pointed to slowing auto sales and corporate M&A activity as evidence that the underlying economy may not be as healthy as S&P returns would indicate.
“The U.S. economy is not growing as fast as people would have thought in the 4th quarter.”
- Meanwhile, in a comical detour, Fink said the market is waiting for Q1 earnings to determine whether the recent equity rally in the U.S. was justified…
I think people are waiting to see corporate earnings for this quarter to see if there is a justification of this significant rally, especially in U.S. stocks.”
- The market is rigged, so the market never depended on earnings
- It was almost exactly two years ago when a cash-strapped Venezuela quietly conducted its first, little-noticed gold-for-cash swap with Citigroup, as part of which Maduro converted part of his nation’s gold reserves into at least $1 billion in cash courtesy of the US bank.
- Which is why Maduro is about to do what he did two years ago, only on a vastly greater scale, and perhaps simply sell Venezuela’s gold outright.
- That is the allegation made by Venezuela’s opposition, which according to Bloomberg has reached out to Wall Street banks to dissuade them from helping Maduro sell Venezuela’s $7.7 billion in gold reserves (as of February) With Venezuela’s foreign reserve hoard rapidly declining, gold now represents one of its most valuable assets; total foreign reserves stood at $10.3 billion on Monday, near a 15-year low
- “The national government, through the central bank, is going to try to swap gold held as reserves for dollars to stay in powe
- President Donald Trump called on Americans to push their congressmen to repeal and replace Obamacare Tuesday in a speech delivered at a factory in Wisconsin.
- The administration has renewed its efforts to finish health care reform despite calling on lawmakers to move on to tax reform in the wake of leadership pulling the bill due to a lack of votes in March. The president noted repealing Obamacare will make tax reform easier, giving Congress more of a cushion due to its deficit reduction to make tax cuts.
- James Comey, the man who refused to bring charges against Hillary Clinton despite a mountain of concrete evidence that she, and several members of her staff, knowingly violated several federal laws, apparently used the largely discredited “Trump Dossier” to help secure a FISA warrant to secretly monitor Trump’s former campaign aide, Carter Page, according to CNN.
The FBI last year used a dossier of allegations of Russian ties to Donald Trump’s campaign as part of the justification to win approval to secretly monitor a Trump associate, according to US officials briefed on the investigation.
- All of which, once again, brings into question the level of stupidity and/or pure corruption that must have been involved in this process given the shear number of people whose approval was undoubtedly required to authorize the issuance of a FISA warrant that paved the way for Comey and the Obama administration to secretly monitor the Trump campaign.
- Meanwhile, Carter Page offered a simple reply to this latest revelation saying that he looks forward to the discovery process and testimony that will come from the lawsuit he plans to file in short order.
“I look forward to the Privacy Act of 1974 lawsuit that I plan to file in response to the civil rights violations by Obama administration appointees last year. The discovery process will be of great value to the United States, as our nation hears testimony from them under oath and we receive disclosure of the documents which show what exactly was done in 2016.”
- ., President Donald Trump called on House Speaker Paul Ryan (R-WI), who is on a bipartisan congressional trip visiting NATO countries, to get members of NATO “to pay their bills.”
- , make sure these countries start paying their bills a little bit more, you know. They’re way, way behind.
- US F-22 stealth fighter jets have accompanied Russia’s Tu-95MS ‘Bear’ strategic bombers on a patrol mission over the neutral waters near Alaska,
- “The aircraft covered about 5,000 kilometers at the speed of up to 850 kmph and at the height of up to 10,000 meters. The flight lasted more than seven hours. The Tu-95MS bombers were being accompanied for 27 minutes by the F-22 fighter jets of the US Air Force,” the ministry said.
- Russia’s Long-Range Aviation regularly carries out patrol missions above the neutral waters of the Arctic, the Atlantic, the Black Sea and the Pacific Ocean. All such missions are carried out in strict compliance with international regulations and with respect to national borders, the ministry said.
- The US Air Force plans to deploy more F-35 Lightning II stealth multirole fighters in Europe in the coming days, US Air Force spokesman Capt. Mark Graff
- “Currently, six F-35As are deployed to Europe as part of a planned training deployment to train alongside US and NATO aircraft stationed in Europe,” he said.
- “A few more F-35As are scheduled to arrive in Europe later this week,” the spokesman went on. “The F-35As will remain in Europe for several weeks.”
- Over a week ago, Washington declared that the USS Carl Vinson strike group was set to sail to the Korean Peninsula in order to “project power” in the region amid the growing tensions between the United States and Northern Korea.
“We’re sending an armada,” Mr. Trump said to Fox News on April 11 meaning that the deployment of the US carrier strike group in the Sea of Japan will send a powerful “singal” to North Korea.
- US Defense Secretary Jim Mattis also confirmed the deployment last week.
- However, in the very same moment, the strike group was sailing in the opposite direction in order to take part in joint exercises with the Australian Navy in the Indian Ocean.
- So, finally, the USS Carl Vinson strike group turned to the Korean Peninsula. It’s expected to arrive the area next week.
“White House officials declined to comment on the confusion, referring questions to the Pentagon.
- According to a report China appears to be preparing measures in case North Korea tests a nuclear device or performs another provocation, including possibly suspending oil to the regime, and adds that relations between Beijing and Pyongyang appear frostier than ever before.
- “China believes there is the “highest possibility” of a nuclear test on April 25, but “does not leave out the possibility it might take action in early May.”
- One assumes the Carl Vinson, wherever it may be in the world currently, will eventually make it to North Korea by then.
- Cha said such a pattern “suggests a provocation as early as two weeks” before the South Korean presidential elections on May 9. That two-week window overlaps with North Korea’s military foundation day on April 25.
- Intense US surveillance of North Korea’s Punggye-ri nuclear test site, from which US officials have speculated that a nuclear weapons test could be imminent, have revealed a series of intramural volleyball games underway among troops stationed on the site.US officials admitted to being “surprised” by the volleyball matches, of which they’d apparently had no advanced warning, saying three different locations, including the guard barracks, the main administrative area and the command center, were all hosting volleyball matches.
- The deal on the Iranian nuclear program will be reviewed to determine whether lifting sanctions is in line with US national interests
- US President Donald Trump ordered the National Security Council to review the Joint Comprehensive Plan of Action (JCPOA) on the Iranian nuclear program, US Secretary of State Rex Tillerson said.
- Iran and the P5+1 group of international mediators signed a Joint Comprehensive Plan of Action (JCPOA) on Iran’s nuclear program on July 14, 2015 in Vienna.
- President Trump has notified Congress that Iran is complying with the “disastrous… worst deal ever negotiated” 2015 nuclear deal
- During his campaign, Trump raised the prospect the United States will pull out of the nuclear pact it signed last year with Iran, alienating Washington from its allies and potentially freeing Iran to act on its ambitions.
- The certification of Iran’s compliance, which must be sent to Congress every 90 days,
- Russia firmly supports vesting Iran with full-fledged membership of the Shanghai Cooperation Organization (SCO),
- The declaration to establish the SCO was signed in June 2001 by six states – Russia, China, Kazakhstan, Kyrgystan, Tajikistan and Uzbekistan. The decision to accept India and Pakistan as full-fledged members of the organization was made in 2015, although they remain acceding states to date. Iran received the SCO observer status in 2005.
- The presidents of Russia and Iran, Vladimir Putin and Hassan Rouhani met in Moscow on March 28. I
- Russian authorities are ready to cooperate with all the warring parties in Libya in order to restore unity in the North African state, the Russian Foreign Ministry said in a statement on Wednesday.
- Different territories of Libya are controlled by various authorities. The eastern part of the crisis-torn state is governed by its parliament, with headquarters in the city of Tobruk. The parliament is backed by the Libyan National Army led by Gen. Khalifa Haftar. At the same time, the Government of National Accord operates in the country’s west and is headquartered in Tripoli.
- Putin expressed his desire to implement another Syrian ceasefire that would stop the violence inside the country, Interfax News Agency reported on Tuesday evening.
- Putin’s desire for a permanent settlement in Syria was one of the main topics during this phone call.
- Erdogan reportedly agreed with his Russian counterpart about the necessity of bolstering a permanent ceasefire in order to promote another round of peace talks in Astana.
- Turkey’s electoral board has rejected petitions by opposition parties to annul the outcome of a recent referendum on expanding presidential powers over voting irregularities
- Thousands have protested in Istanbul and Ankara since Sunday’s referendum, which has set into motion the transformation of Turkey’s system of government from a parliamentary to a presidential one. .
- Turkey’s introduction of limitations on the supply of agricultural products from Russia, including wheat, is a “stab in the back,” Russian Agriculture Minister said on Wednesday.
- “We did not expect this. In a certain way it’s a stab in the back, and we very much hope that the relations between Russia and Turkey will come back to normal,”
- The minister added that Russia is able to cope with the lack of supply to Turkey and can find new markets, but “surely the common sense will triumph in the end.”
- In May 2004, one year after the U.S. commenced a full-scale invasion of Iraq, the New York Timesissued a half-baked apology for its abysmal coverage of the “intelligence” used to convince America that Iraq was a threat.
- “Looking back, we wish we had been more aggressive in re-examining the claims as new evidence emerged — or failed to emerge,” wrote the NYT editors. They also lamented their dependence on Iraqi defectors who made spurious claims to further the goal of regime change.
- It was a grudging admission that the famous newspaper played a critical role in pushing lies and propaganda, to lead the U.S. into a ‘pre-emptive’ war of choice. Other corporate media outlets, including those in the neoconservative (i.e. The Weekly Standard) and liberal interventionist camps, apparently felt no remorse at betraying the public.
- In Sept. 2002, the Bush-Cheney cabal installed a special Pentagon intelligence unit to create the web of lies and spin needed to bring forth the Iraq war drums.
- The Office of Special Plans (OSP), led by Paul Wolfowitz and Douglas Feith, used their imagination and hard-line neocon belief in “regime change” to create Iraqi WMD and ties to terror out of thin air. With the “war on terror” as an excuse and Dick Cheney as their cover, OSP bypassed normal intelligence routes and brought what they wanted straight to President Bush.
- Fast-forward to 2017, and the U.S. is backing other “rebel” groups in other Middle Eastern countries long targeted for regime change – and using bogus intel.
- Neocons and liberal interventionists are gnashing their teeth at the prospect of bringing Syria into the Western fold through military might.
- McMaster may not have the Office of Special Plans (or he may have something else entirely), but the threat of bogus intelligence to justify full-scale war is just as real.
- The media frenzy over the threat of war between the US and North Korea subsided somewhat this week after a US carrier strike group earlier reported to have been dispatched to the area was said to be moving away from the Korean Peninsula. Korea expert Michael Madden says a lot of the war fears can be chalked down to misleading reports in the media.
- On Tuesday, US Ambassador to the UN Nikki Haley told reporters that her country has “one message” to Pyongyang – that the United States would not be looking to get into a fight with North Korea, unless Pyongyang instigates one.Source: sputniknews.com