- Ian Narev, the CEO of Commonwealth Bank of Australia (CBA), the nation’s largest bank is set to step down amid money laundering charges.
- Money laundering is big business in Australia because regulations do not cover lawyers, real estate agents, accountants, and CEOs ignoring warnings from police.
- Despite the obvious problem, it’s cash itself that gets the blame.
- There are several stories here buts let’s start with Australia’s Biggest Bank Says CEO Will Retire Amid Money-Laundering Scandal.
- Commonwealth Bank of Australia Chief Executive Officer Ian Narev will step down by the end of June 2018 as the nation’s largest lender seeks to mitigate the fallout from a money-laundering scandal.
Read more at:Money Laundering Scandal At Australia’s Largest Bank Triggers Another Call For Ban On Cash
- When the US State Department supported Ukraine domestic forces and nationalist elements to stage a successful and deadly coup against then pro-Russian president Viktor Yanukovych in 2014, the outcome was supposed to be a nation that is a undisputed US ally and persistent threat, distraction and non-NATO opponent to bordering Russia. Instead, it now appears that it has been Ukraine which was, as the NYT writes, the secret behind the success of North Korea’s ballistic missile program.
- Specifically, in a blockbuster report this morning, the NYT alleges that North Korea has been making black-market purchases of powerful rocket engines from a Ukrainian factory citing “expert analysis being published Monday and classified assessments by American intelligence agencies.”
Read more at:NYT Shocking Report: US “Ally” Ukraine Is Source Of North Korean Missile Engines
- Earlier this month, Morgan Stanley warned that commercial real estate prices in New York City, Sydney and London would likely take a hit over the next two years as Chinese investors pull out of foreign property markets.
- The pullback, they said, would be driven by China’s latest crackdown on capital outflows and corporate leverage, which they argued would lead to an 84% drop in overseas property investment by Chinese corporations during 2017, and another 18% in 2018.
- Sure enough, official data released by China’s Ministry of Commerce have proven the first part of Morgan Stanley’s thesis correct. Data showed that outbound investment in real estate was particularly hard hit during the first half of the year, plunging 82%.
Read more at:Look Out Manhattan – Chinese Foreign Real-Estate Spending Plunges 82%
- In two welcome signs of de-escalation after yesterday’s sudden spike in bellicose rhetoric, moments ago North Korea released a Canadian man from prison on humanitarian grounds, the Korean Central News Agency reported on Wednesday. He was serving a life sentence in the country for anti-state activities. As CGTN adds, Rim Hyon Su, also known as Rev. Lim Hyeon-soo was sentenced to life in prison with hard labor in December 2015.
- The release was expected following yesterday’s news that Canadian special envoy, Daniel Jean, national security advisor to the prime minister of Canada, and his party had arrived in Pyongyang on Tuesday.
Read more at:North Korea Releases Canadian Prisoner As Tillerson Talks Down “Imminent Threat”
- The bigger they come, the harder they fall. On Monday, the Dow Jones Industrial Average closed at a record high for the ninth straight session. It has been a remarkable run, but many experts are pointing out that big trouble is brewing under the surface. As you will see below, 79 components of the S&P 500 have already dropped more than 20 percent below their 52-week highs, and it is mostly just a handful of high flying tech stocks that are still propping up the market at this point.
- Over the past several weeks, I have been documenting so many of the prominent voices that are loudly warning about an imminent stock market crash, and in this article you will hear some more of these warnings. There is no way that stock prices can keep going up like this, and when the inevitable correction does arrive it is going to be exceedingly painful for millions of investors.
Read more at:The Dow Closes At A Record High For The 9th Straight Time But Experts Warn That A Stock Market Crash Could Be Imminent
- The American media specializes in fake news.
- Indeed, since the Clinton regime the American media has produced nothing but fake news.
- Do you remember the illegal US bombing and destruction of Yugoslavia? Do you remember “war criminal” Slobodan Milosevic, the Serbian president branded “the butcher of the Balkans,” who was compared to Hitler until Hillary passed the title on to the President of Russia?
- Milosevic, not Bill Clinton, was arrested and placed on trial at the International Criminal Tribunal. He died in prison, some say murdered, before he was cleared of charges by the International Criminal Tribunal.
- Do you remember the destruction of Iraq justified by the orchestrated propaganda, known by the criminal George W. Bush regime to be an outright lie, about Saddam Hussein’s “weapons of mass destruction,” weapons that the UN arms inspectors verified did not exist? Iraq was destroyed.
Read more at:From Jihad To Jobs, Paul Craig Roberts Says “Fakes News Is A US Media Specialty”
- Are we right on the verge of one of the greatest financial collapses in American history? I have been repeatedly warning that our ridiculously over-inflated stock market bubble could burst at any time, but former Federal Reserve Chairman Alan Greenspan believes that the bond bubble actually presents an even greater danger. When you look at the long-term charts, you will see that an epic bond bubble has been growing since the early 1980s, and when it finally collapses the financial carnage is going to be unlike anything we have ever seen before.
- Since the last financial crisis, global central banks have purchased trillions of dollars worth of bonds, and this has pushed interest rates to absurdly low levels. But of course this state of affairs cannot go on indefinitely, and Greenspan is extremely concerned about what will happen when interest rates start going in the other direction…
Read more at:Former Fed Chairman Alan Greenspan Ominously Warns That The Biggest Bond Bubble In History Is About To Burst