Brexit could be invoked on March 29. Retail is collapsing quickly has foot traffic declines rapidly. Bank loan creation has accelerated to the downside. Deutsche banks revenue declines rapidly. EU needs to step in and bailout the European banks. Trump will need to destroy the dollar to bring back manufacturing. Stockman warns that the Fed will not be able to shrink its balance sheet and government is out of funds. The entire economy just took one step closer to a collapse. Comey and Rogers testified that there is not information that was given about the spying. Trey Gowdy got Comey to admit that those who leaked could have been working under Obama and that the FBI was not going after them. 702 allows the government to use backdoors to spy on the people of the US. There is complete chaos in France. Merkel starts to talk with Putin. IMF decides not to loan Ukraine anymore money. US wants Haftar to give back the oil ports. More troops head to the Middle East and Africa. Another Russian diplomat died, this makes 8. Diane Feinstein says Trump will resign.
Check Out The X22 Report Spotlight YouTube Channel – X22Report Spotlight
Please check Newzsentinel.com for the latest news on the economic collapse. The Sentinel Alerts are updated throughout the day. If you haven’t already, go to “The People” and join the community of people who are helping each through the economic collapse.
Current News – 03.20.2017
- It’s finally happening.
- retail stocks are broadly lower, with 83 of 91 components of the S&P 1500 Retail Index trading in the red, led by Tuesday Morning, Caleres, Express, Shoe Carnival, Francescas
- Wells Fargo’s states it’s “increasingly clear that retail is under significant pressure” adding that store traffic remains weak (likely to get softer this week due to Easter shift), while markdown rates are not only elevated on an annual basis, but also getting sequentially worse. He concludes that “retailers are running out of time” to reach elevated Q1 numbers
- Wells Fargo’s retail team conducted channel checks and found that March week 3 traffic declined 13.3% vs -2.4% y/y, “slightly worse”
- Movado reported 4Q sales that missed estimates
- the latest update to the Fed’s latest weekly commercial bank loan data, we find that the trends have deteriorated substantially.
- total loans and leases grew only 4.2% in the week ended March 8: the lowest growth rate since May 2014. However, it was once again the Commercial and Industrial loans creation – or lack thereof – which was more problematic, because after growing 4.0% on a year over year basis as of March 1, and 5.7% one month ago as of February 8, the growth rate has since tumbled to just 2.9%, a 1.1% decline in the growth rate over the past week.
- this was the biggest monthly slowdown going back to the financial crisis.
- Finally, to revise our forecast from last week, when we said “C&I loan growth may turn negative Y/Y within a few months” it now appears the inflection point can hit within the next few weeks,
- After raising capital at a 35% discount over the weekend, Deutsche Bank shares are tumbling once again – back into the red for 2017 – after CEO John Cryan warned that revenue would be “broadly flat” in 2017.
- If the ECB scales back stimulus, banks face even greater risk of collapse. But now there’s a new solution
- Events are moving so fast in Europe these days, it’s almost impossible to keep up
- The total stock of non-performing loans (NPL) in the EU is estimated at over €1 trillion, or 5.4% of total loans, a ratio three times higher than in other major regions of the world.
- On a country-by-country basis, things look even scarier. Currently 10 (out of 28) EU countries have an NPL ratio above 10% And among Eurozone countries, where the ECB’s monetary policies have direct impact, there are these NPL stalwarts:
- Ireland: 15.8%
- Italy: 16.6%
- Portugal: 19.2%
- Slovenia: 19.7%
- Greece: 46.6%
- Cyprus: 49%
- : in Greece and Cyprus, two of the Eurozone’s most bailed out economies, virtually half of all the bank loans are toxic.
- In February ECB Vice President called for the creation of a whole new class of government-backed “bad banks” to help buy some of the €1 trillion of bad loans putrefying on bank balance sheets.
- If given the green light, the scheme would pave the way to the biggest one-off bail out of European banks in history. It would be Euro-TARP on angel dust,
- In other words, EU taxpayers would have to spend potentially hundreds of billions of euros saving yet more banks from the consequences of their own acts and bail out their bondholders and potentially their stockholders too, with funds desperately needed in other areas. Those banks, once saved and their balance sheets cleansed, would then be handed on a platter to much bigger banks. In return, taxpayers would end up with an even more concentrated, consolidated, interconnected financial system that is even more prone to abuse, corruption, and excess.
- If Donald Trump really wants to Make America Great Again, he’s going to have to Make the Dollar Weak Again first.
- So argued hedge fund manager Mathew Klody of MCN Capital Management
- . Sooner or later, the president will need to drive down the dollar, and for those based in the U.S. that will drive up foreign currencies.
- Incidentally, if Klody’s analysis is right, Trump should also, logically, be good for gold.
- the Fed could implement 3-4 money market rate increases a year, while deferring the shrinkage of its balance sheet into the indefinite future.
- But that it most assuredly cannot do.
- the U.S. Treasury has blown a massive wad of cash in order to pay its bills during the last few months, but will soon be back into the market borrowing hand-over-fist.
- But now that the debt ceiling is again frozen into place, an explosive political crisis is coming soon.
- This time there will be no timely compromise.
- That’s because the Deep State and its Democratic shills are attempting to re-litigate the election, while the Donald has declared war on them in turn — compounded by his aggressive actions on the immigrant ban, deportation of illegals and the erection of provocative controls and walls at the Mexican border.
- Accordingly, the current meager cash balance at the Treasury will not even last to Memorial Day.
- Director James Comey just confirmed The FBI is investigating possible links between US President Donald Trump’s campaign and the Russian government.. Comey declined to provide more details, citing the ongoing nature of the investigation. “I can promise you we will follow the facts wherever they lead,” Comey vowed.
- FBI Director Comey chose his words very carefully but explained that there is “no information” to support US President Trump’s tweeted claims that the Obama administration wiretapped his offices.
the communication or reception of knowledge or intelligence
something that furnishes proof : testimony; specifically : something legally submitted to a tribunal to ascertain the truth of a matter
2: one who bears witness; especially : one who voluntarily confesses a crime and testifies for the prosecution against his accomplices
- Comey refused to “characterize” the tweets containing the allegation from President Trump, saying only that “I have no information” that supports the claim.
- “I have no information that supports those tweets and we have looked carefully inside the FBI,” Comey told the House Intelligence Committee on Monday.
- The Nasional Security Agency (NSA) has seen no information that alleged Russian interference had affected vote tally in US states during the 2016 presidential election, NSA Director Michael Rogers said on Monday.
- FBI Director James Comey also said that his agency had no such evidence.However, the Federal Bureau of Investigation (FBI) is currently conducting a probe into Russia’s alleged meddling in 2016 US presidential election, FBI Director James Comey confirmed in a hearing on Monday.
- Evidence shows that there was no physical wiretapping of Trump Tower during the 2016 presidential campaign, but other means of surveillance have not been ruled out, US House Intelligence Committee Chairman Devin Nunes said at hearing on alleged Russian interference into the election on Monday.
- President Trump has asked Congress to give his administration more time to substantiate claims that Barack Obama wiretapped his phone.
Trey Gowdy Finds Out FBI Director James Comey Won’t Obey The Law, Comey Refuses To Promise The American People That He Will Investigate Trump Leaks “My Fellow Citizens Are Rethinking Their Side Of The Equation”
Trey Gowdy Finds Out FBI Director James Comey Won’t Obey The Law & He’s Pissed
- Gowdy Points To President Obama And His Officials As Possible Source Of Flynn Leaks | Trey Gowdy, questioning James Comey, appeared to name former President Barack Obama and six of his administration’s top staffers as the source of leaks
Rep. Trey Gowdy, questioning James Comey during a House Intelligence Committee hearing on Monday, appeared to name former President Barack Obama and six of his administration’s top staffers as the source of leaks regarding former National Security Advisor Michael Flynn’s alleged collusion with the Russian government during the 2016 election.
- Section 702 of the Foreign Intelligence Surveillance Act (FISA) has come under scrutiny as it is set to expire this year on Dec. 31. The deadline of the contentious section which came into law in 2008 and was renewed in 2012, has impelled lawmakers to review its necessity.
- Section 702 of the FISA arguably allows the NSA and other agencies to exploit loopholes to intercept Americans’ communications while collecting information on foreign targets. Depending on who you speak with, this is an infringement on Americans’ privacy under the Fourth Amendment, or it’s vital to national security.
- Rep. Bob Goodlatte, who opened the recent meeting over Section 702’s future began by outlining it as “an important safeguard.” He continued however, saying that “We must ensure that our protection doesn’t come at the expense of cherished liberty.”
- The warrantless searches can target anyone and everyone who has contact with a person outside the United States. These people can include journalists, politicians, business executives, human rights activists and attorneys for research or merely banking purposes. It’s most likely that Gen. Flynn’s intercepted conversations with the Russians occurred under Section 702. Anyone who communicates with a “foreign target” can be monitored.
- . But here is the problem. And General Hayden said this the other day. He said even low-level employees can unmask the caller. That is probably what happened to Flynn.
- “They are not targeting Americans. They are targeting foreigners. But they are doing it purposefully to get to Americans.”
- The claim that Americans can’t be monitored without probable cause and a warrant is false.
- Under the banner, “march for justice and dignity “, thousands in Paris rallied against police brutality on Sunday, with authorities using tear gas against some demonstrators.
- Protesters chanted “no justice, no peace” and “police everywhere, justice nowhere” to call for an end to what they say is the use of excessive police force, especially against black and other minority groups.
- After admitting to notable differences with President Trump during a press conference German Chancellor Angela Merkel poured some cold water on the neocon narrative as she appeared to offer an olive branch to Russia –
- Merkel rebuked President Trump’s comment that Germany owes U.S. and NATO “vast sums,” saying that no country spends its entire defense budget on NATO, reiterating her view that projects such as crisis prevention, foreign aid count toward defense budget, not just military spending.
- Hmm… spot the odd one out!
- And finally Merkel stated that:
“we want to have possibilities for scaling back sanctions when the Minsk accord is implemented, because we want to include Russia as an international actor in the solution of many conflicts.”
- On Sunday it was reported that the International Monetary Fund (IMF) postponed the third review of its loan program to Ukraine.
- The planned meeting was expected to result in the disbursement of a $1 billion loan to Kiev.
- The expert pointed out that the move by the IMF is important because it signals that the West has changed its stance towards Ukraine.
- “Previously, economic and financial tools were used to force Kiev to make certain political steps in the interests of the United States and its Western partners
- “The Ukrainian economy is de facto nearing a default, but Kiev doesn’t want to admit that.
EU states and the US have urged a Russia-backed Libyan warlord to hand back oil ports, amid warnings that Russia was trying to do in Libya what it did in Syria.
The British, French, Italian, and US ambassadors to Libya said oil facilities “belong to the Libyan people and must remain under the exclusive control” of central authorities.
- South Korea’s decision to deploy the THAAD antimissile system from the US is disproportionate to the threat posed by North Korea, which was voiced as justification by both Seoul and Washington, Russian Foreign Minister Sergey Lavrov said.
- South Korea decided to deploy the THAAD system, due to be fully operational by August, saying it was necessary to protect from a possible missile attack by North Korea.
- The international community should chip in to restore Syria’s facilities,
- “We believe the time has come to start discussing the postwar reconstruction of Syria’s facilities and the international coalition’s contribution to these efforts,”
- Reports from earlier this month that Pentagon has been increasing deployments of special forces around the Middle East and Africa appears to be continuing apace, with the most recent reports suggesting that President Trump has expanded the deployments into Central Africa, and is continuing the policy across the region.
- . If the proposed budget ultimately passes in Congress, the DoD would be allocated an extra $54 billion in federal funding – a 10% increase that would be one of the largest one-year defense budget increases in American History.
- To put the proposed increase in context, the United States already spends more on defense than the next seven countries combined. Meanwhile, the additional $54 billion is about the size of the United Kingdom’s entire defense budget.
- In 2015, Politico estimated that there are 800 U.S. bases abroad, and that it costs up to $100 billion annually to maintain this international presence.
- Since Donald Trump’s inauguration in January, numerous high-ranking Russian officials have been found dead under suspicious circumstances, including another one on Saturday.
- Vladimir Evdokimov, executive director for Russia’s space agency Roscosmos, was discovered dead by investigators who say he had two stab wounds on his body.
- Evdokimov, 56, was found in his prison cell where he was being held on charges of embezzling 200 million rubles ($3.1 million) from the MiG aerospace company.
- As we noted previously, six Russian diplomats have died in the last 3 months – all but one died on foreign soil. Some were shot, while other causes of death are unknown. Note that a few deaths have been labeled “heart attacks” or “brief illnesses.”
- It’s no secret that there is a concerted effort underway to do everything possible to remove President Donald Trump from office.
- From Russian ties to business conflicts of interests, both Democrats and Republicans are actively working to find chinks in the President’s armor.
- Democrat Senator Diane Feinstein says there is a possibility that Trump will eventually remove himself from office by filing his own resignation.