More layoffs are headed our way. Retail sales fall in the first week of October. Baltic Dry Index declines to its lowest level in 29 years. Central bankers are preparing for a series of crisis. Central bankers are now preparing aggressive measures to ban cash . HSBC warns we are already in a global recession and its going to get much worse. FATCA has now started the next phase and it is failing. Tennessee school district needed to shutdown because of Obamacare. Gun control is a farce, stricter laws do not help they actually make it worse. MH17 story broke today which is perfect timing to throw propaganda into the mix. The new propaganda does not show who shot down the Malaysian airline, it shows nothing. US has been supplying weapons, material and trucks to the IS. The FSA forces don’t really exist, its a terrorist network. IS/US is now making additional threats towards Russia.
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Current News – 10.13.2015
- National chain-store sales fell 0.2% in the first week of October
- the Fed and is forcing it to take more and more aggressive measures to trash cash.
- the Feds plan to take hold of savings during the next round of the crisis to stop individuals from getting their money out.
- the Fed missed its window to hike long ago and so now, all they’re doing is fostering continued uncertainty which is also causing capital to flow out of EM.
- Here’s how one former Treasury economist They are creating the conditions that are causing the external environment to be weak, and then they say they can’t hike because of those same conditions that they have created.”
- a new chart from HSBC shows that when denominated in USD, the world is already in an output recession.
- Some color from HSBC:
We are already in a global USD recession
Global trade is also declining at an alarming pace. According to the latest data available in June the year on year change is -8.4%. To find periods of equivalent declines we only really find recessionary periods. US dollars is already negative to the tune of USD1,37trn or -3.4%. That is, we are already in a dollar recession.
Over the last year, the ECB and BoJ have added about USD850bn to their reserves. The relative increase in ECB and BoJ stimulus may have exaggerated the decline in global growth due to the shift in exchange rates. However, these lower exchange rates have so far not produced sufficiently large export growth numbers to offset the wider growth story.
- the US got everyone on the money printing bandwagon, none of it had the intended effect of giving the lackluster post-crisis “recovery” the shock it needed, and because the rest of the world is now still in easing mode, there’s a policy divergence that’s contributing to dollar strength which is in turn serving as a drag on the same global economy all of the easing failed to boost.
- Deep within the Foreign Account Tax Compliance Act, or FATCA for short. It was a sort of ‘law within a law’,
- FATCA effectively commanded every single bank on the planet to enter into an information-sharing agreement with the IRS.
- (Well, not so much ‘information sharing’. More like ‘information giving’. Because the US government doesn’t share anything with anyone.)
- It all started based on a phony assumption that millions of Americans were hiding trillions of dollars in secret offshore accounts. And given how broke the US government is, they wanted every penny they were entitled to.
- So the plan was to turn every bank in the world into a global spy network.
- Any bank that didn’t comply was threatened with a crippling 30% withholding tax on every dollar that went in, out, and through the Land of the Free.
- Banks complied. And FATCA was rolled across the world.
- So FATCA truly has graduated to the next level
- the entire law was passed based on a premise that it would quickly fill the government’s empty coffers with oodles of cash.
- But that hasn’t happened.
- The government itself admits that over the last 5-6 years, government programs to eliminate offshore tax evasion have brought in $6.5 billion, or roughly $1 to $1.3 billion per year.
- And according to the Association of Certified Financial Crime Specialists (ACFCS), an organization specializing in tax evasion, FATCA will continue to generate roughly $800 million per year in tax revenue.
- Yet $800 million doesn’t even constitute a drop in the bucket anymore; it’s enough to pay about 17 hours worth of interest on the national debt.
- A school district in Tennessee voted to cancel classes and shut down its schools as a result of a budget problem that has left the government unable to fund the facilities. The school director blamed Obamacare for its problems.
- Clay County, Tennessee operates three schools total
- “Clay County’s inability to generate the revenue to offset the mandates is what’s caused this to come to a head,”he said.
- “The straw that broke the camel’s back was really the Affordable Care Act for us and it has made it very difficult for us to have our employees properly covered and meet the mandates of the law. That was going to require new revenue and the commission felt like they couldn’t do that through a tax increase.”
- Thomas Sowell offers ‘hard evidence about plain facts’ on firearm
- Statistics on murder are among the most widely available statistics, and among the most accurate, since no one ignores a dead body. With so many facts available from so many places and times, why is gun control still a heated issue? The short answer is that most gun control zealots do not even discuss the issue in terms of hard facts.
- Among the many facts this ignores is that gun sales were going up by the millions in late 20th century America, and the murder rate was going down at the same time.
- Among the other facts gun control zealots consistently ignore are data on how many lives are saved each year by a defensive use of guns. This seldom requires actually shooting. Just pointing a loaded gun at an assailant is usually enough to get him to back off, often in some haste.
- Right in the midst of the march toward war in the Middle East between the West and Russia, a Dutch report has been released on the crash of flight MH17 which has concluded the commercial flight was brought down by a missile that exploded outside the plane’s cockpit.
- The media is trying to use the report to blame Russia for the crash again this morning as if this is “breaking news”.
- The report itself — despite headlines like NBC’s “Malaysia Airlines MH17 Was Shot Down by BUK ‘Warhead’: Investigators” or New York Daily News’ “MH17 plane was downed by Russian-made missile, instantly killing many of 298 on board: report” — does not even conclusively say it was a Russian Buk warhead that brought the plane down.
- The missile, according to Dutch Safety Board chairman Tjibbe Joustra, would fit the Russian “Buk” rocket system, but that’s not the same as conclusively finding a missile was actually fired from a Buk system that day.
- Two full-scale experiments by the Almaz-Antey defense company aimed at recreating the MH17 crash conclude the missile that downed the flight was an old BUK model fired from a Ukraine-controlled area, contesting the preliminary theory by Dutch investigators.
- Two detonations of Buk missiles near aluminum panels and the cockpits of decommissioned passenger airliners in July and October have produced what the company calls conclusive results.
- “In the course of the experiment it became absolutely evident that if the Malaysian Boeing was downed by a BUK missile, it was done with an old BUK model which does not have double-T iron strike elements,”
- The outcome of the experiment was sent over to the Dutch investigators, however, “according to what we know was not taken into consideration,”
- The Dutch Safety Board report will not directly address the issue of who was responsible for the MH17 disaster. A separate Dutch-led criminal investigation is continuing.
- But where are all the recordings in the black box that show why MH17 was at an altitude that could be hit by a BUK?It was Kiev that would have benefited from a purposeful rebel mistake, not the rebels.
- Okinawa’s governor on Tuesday revoked approval for work needed to relocate a U.S. air base from one area of the southern Japanese island to another, but the Tokyo government said it would still proceed with the plan.
- Local residents object to living with U.S. Marine Air Station and want the base moved off Okinawa.
- The Iranian parliament has voted in favor of the nuclear deal with world powers
- Now that the deal has been approved the lower house, it needs endorsement by the Guardian Council of the Constitution consisting of clerics. Once the council approves the bill, it will come into law.
- Moscow strongly condemns series of terrorist attacks in Chad, which killed some 40 people and injured more than 50 citizens,
- “According to the received information, on October 10 suicide bombers blew themselves up killing 40 people and injuring more than 50 people in western Chad locality and in a refugee camp,”
- the State Department had long been providing these Toyotas to its “Free Syrian Army” which, as Syria expert Josh Landis at the University of Oklahoma asserts, somehow manages to deliver between 60 and 80 percent of its US-supplied goodies to ISIS or al-Qaeda. How did ISIS get the Toyotas? From the State Department.
- Islamic State militants have lost “most” of their ammunition, heavy vehicles and equipment in Russian airstrikes, .At least 86 ISIS targets were hit during 88 sorties in the last 24 hours.
- . Some groupings of militants from the Islamic State terrorist organization are ready to start their pullout from the fighting area in Syria over shortage of arms and ammunition,
- “Interceptions of radio talks between field commanders in the provinces of Hama and Homs show that the militants are experiencing a shortage of ammunition for small arms and grenade launchers. Some field commanders are advancing demands to their leaders that they will pull out their groupings from the fighting areas, unless ammunition is replenished,”
- And as we know the IS just received 50 tons of ammo and whatever else was in those crates.
- There is no guarantee that US weapons and ammunition deliveries to the Free Syrian Army would not fall into the hands of ISIL, according to Russia’s president.
- Putin is asking where the weapons Washington is still delivering are going to now.”Now they announced that they are supplying the Free Syrian Army with weapons, ammunition. Where is this Free Syrian Army? If they just unload and throw these arms, weapons and ammunition out of air, where is the guarantee that it would not fall into the hands of ISIL [Islamic State militant group]
- “The United States itself admitted that the campaign failed, and now they just throw around arms and ammunition? For whom?
- FSA units were created about half a year after the start of the Syrian war.Turkey supported this idea. However, it always was a PR myth and never was a real power in the battlefield. The first FSA activity was noted in 2011 when its leader, a former colonel of the Syrian Arab Army (SAA), made a statement about the creation of the FSA. Sunni deserters from the SAA became the core of the group. Turkey started supplies of arms and equipment, but there weren’t any confirmed reports of FSA operations.
- In 2012, Riad al-Asaad was injured in a car incident and lost a leg. After this event FSA’s level of activity dropped even lower.
- In the end of 2012, the FSA went into liquidation. Nonetheless, separate units still exist in the battlefield. Turkish intelligence services use them for their own purposes. In general, these units are based at Homs, Aleppo and in southern Syria
- The so-called “Southern Front of the Free Syrian Army”, indeed, isn’t a part of the FSA. It consists of tribal people living at the border of Syria and Jordan.They fight only to defend their settlement zone. The 700 militants who surrendered to the Syrian government in Daraa were members of this tribal militia.
- Indeed, the US has never supplied arms and equipment to the FSA.
- 90% of the so-called “Syrian rebels” are clearly terrorists
- The moderate opposition doesn’t exist, .
- nsurgents have fired two shells at the Russian embassy in the Syrian capital as scores of pro-government supporters gathered outside the compound to thank Moscow for its intervention in Syria.
- Earlier the American aviation bombed out an electrical power plant and a transformer in Aleppo
- Russian President Vladimir Putin has expressed bewilderment on Tuesday over the targets of US airstrikes in Syria.
. Why have they done this? Whom have they punished there? What’s the point? Nobody knows,” the president said
- The attack cut electricity to 2.5 million Syrians.
- Russian Foreign Minister Sergei Lavrov suggested Monday that Russia and the U.S.-led coalition split the task of bombing ISIS terrorists, with Russia focusing on Syria and the U.S. and its allies on Iraq.
- “The coalition has been invited to Iraq, but it has not been invited to Syria
- Russian researchers are working on reconstructing the profile of a potential recruiter to the Islamic State through social networks.
- The profile will then be incorporated into a computer program that will trawl social networks, such as Facebook, Twitter and VKontakte, for real ISIL recruiters.
- The Obama administration claims that it has been bombing ISIS positions in Syria for over a year. So why in the world do these targets still exist?
- And just as Joe Biden has previously admitted, the “moderate middle” in Syria simply does not exist.
- U.S. anti-tank weapons are playing a critical role in the Syrian conflict. As reported by the Washington Post, U.S.-made anti-tank missiles are being used by the rebels to destroy lots of Russian-made tanks that are being used by the Syrian army…
- Obama is poking China . U.S. warships may soon be sailing into territorial waters around the Spratly Islands. These are islands that the Chinese government claims ownership over, but the U.S. government disputes that claim, and Obama seems determined to flex his muscles in the area
- The stage is being set for World War III,
- Turkish officials today say that they have “concrete evidence” that the weekend bombing against a peace rally in the capital city of Ankara was carried out by attackers linked to ISIS,
- The head of al-Qaeda’s offshoot in Syria has called on followers to carry out attacks in Russia following Moscow’s airstrikes in the country, raising the specter of blowback on Russian soil
Islamic State Declares Holy War Against Russia
- Islamic State spokesman Abu Mohammad al-Adnani called on the Islamic youth worldwide to start a holy war against Russians and Americans “in their crusaders’ war”