Enjoy The Show, The Deep State Is In The Process Of Being Duped Again – Episode 1543

Enjoy The Show, The Deep State Is In The Process Of Being Duped Again
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JPMorgan was busted over bitcoin fraud, raising interest on bitcoin purchases.RBC warns credit is starting to breakdown in Canada. Banks are exposed to the auto subprime market, it looks like the subprime securities crisis of 2008. Mortgage refis tumble, people are being pushed out the market by rising interest rate hikes. The trends are reversing this is the beginning of the end. The IMF reports that global trade is breaking down because of Trumps policies, but trade has been breaking down way before this. The system is breaking apart and more and more indicators show this. The DOJ is handing over the memo that kicked off the Russian collusion hoax. A photo of Ryan and Moufaz has surfaced, is this reason he is leaving government. The White House says that everyone has the right to speak freely on the social media platforms, this is the push for the Internet Bill Of Rights. OPCW confirms the nerve agent used was Novichuk but cannot confirm where it came from. BBC reporter tweet, tired of these staged event, then deletes the tweet. OPCW is on its way to Syria. Russia/US communication is open. Syrian army arrest British soldiers in Ghouta. Back in 2013 the UN found that Assad didn’t use chemical weapons, the rebels did. Trump says he never said he was going to attack. Mattis said there is no evidence that Assad did the attack.

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Current News – 04.12.2018


Economy

  • Jamie Dimon has come From “Bitcoin is a fraud” in September to “Busted for Bitcoin fraud” in April.
  •  JPMorgan Chase & Co has been hit with a lawsuit in Manhattan federal court accusing it of charging surprise fees when it stopped letting customers buy cryptocurrency with credit cards in late January and began treating the purchases as cash advances.

The lawsuit accuses Chase of violating the U.S. Truth in Lending Act, which requires credit card issuers to notify customers in writing of any significant change in charges or terms.

  • Simply put, the bank switched from charging regular interest rates to charging, higher, cash advance rates on purchases of cryptocurrencies without notice to customers about the change.

The named plaintiff in the lawsuit, Idaho resident Brady Tucker, was hit with $143.30 in fees and $20.61 in surprise interest charges by Chase for five cryptocurrency transactions between Jan. 27 and Feb. 2, his lawsuit said.

With no advance warning, Chase “stuck the plaintiff with the bill, after the fact of his transactions, and insisted that he pay it,” the lawsuit said.

Hundreds or possibly thousands of other Chase customers were hit with the charges, Tucker said.

Source: zerohedge.com

  • RBC now sees “cracks” in consumer credit becoming a problem yet again, this time in Canada. The combination of low interest rates and the cheap and easy access to capital has yet again gone from being a solution to a problem, as Canadian lenders are seeing delinquency rates “roll” out in time and duration.

The quality of Canadian consumer credit is beginning to deteriorate, according to Royal Bank of Canada credit analyst Vivek Selot.

The roll rate — the percentage of credit card users who “roll” from early stage delinquencies to 60-89 day delinquencies — reached the highest since 2008 for one credit card program, while delinquencies for another program were above the 10-year average, Selot said in a monthly analysis of credit securitization programs.

 

  • However, amid rising interest rates and a cooling real estate market, there is growing speculation the debt burden poses a threat to the financial system even as Canadian housing prices remain one of the world’s true bubbles.

  • As RBC adds, roll rates in National Bank of Canada’s Canadian Credit Card Trust program are at the highest since 2008, while for CIBC’s CARDS II program, early stage delinquencies, 60-89 day delinquencies and roll rates are all above the 10-year average, Selot said.

Source: zerohedge.com

How Much Are Banks Exposed to Subprime? More than we Think

  • A couple of days ago, when I wrote about the soaring delinquency rates in subprime auto loans – the worst since 1996 – and the collapse of three specialized small subprime lenders
  • One of the collapsed small lenders, Summit Financial Corp, when it filed for bankruptcy on March 23, disclosed that it owed Bank of America $77 million. This loan was secured by the auto loans Summit had extended to subprime customers, who’re now defaulting in large numbers. In the bankruptcy documents, BofA alleged that Summit had repossessed many of these cars without writing down the bad loans, thus under-reporting the losses and misrepresenting the value of the collateral (the loans). This allowed Summit to borrow more from BofA to fund more subprime loans, BofA said.
  • Summit is just a tiny lender and doesn’t really matter. But there are a whole slew of these nonbank lenders, specializing in auto loans, revolving consumer loans, payday loans, and mortgages. Some of these nonbank lenders specialize in “deep subprime.” And some of these lenders are fairly large.
  • How much banks are exposed in this manner to subprime loans – not just auto loans, but also subprime mortgages, and subprime consumer loans – is somewhat of a mystery. But some clues are percolating to the surfacenonbanks lenders have surged sixfold since the Financial Crisis to nearly $345 billion at the end of 2017. Here are the top contenders:
  1. Wells Fargo: $81 billion, up from $14 billion in 2010
  2. Citigroup: $30 billion
  3. Bank of America: $30 billion
  4. JP Morgan: $28 billion
  5. Goldman Sachs: $22 billion
  6. Morgan Stanley: $16 billion.
  • We still don’t fully understand the magnitude of it, and even the banks might not, as BofA is finding out in the Summit bankruptcy. Summit is tiny, and any losses will be a rounding error for BofA. But as far as we know, BofA has $30 billion in exposure, and Wells Fargo $81 billion, to loans that they are, on paper, not exposed to. And those are more serious numbers.
  • Chapter 11 bankruptcy filings in March soared to the highest level since April 2011. It’s not just the Brick & Mortar Meltdown anymore
  • Sub securities, everything was great until it was not,

Source: wolfstreet.com

  • At the end of March, we penned that the “Bank Sector Is In Peril As Refi Activity Crashes Amid Rising Rates” and since then it has only gotten worse. According to the latest Mortgage Banker Association data, mortgage demand continued to slide and last week mortgage application volumes slumped another 1.9% W/W (and -5.5% Y/Y), despite a modest dip in rates. And while initial purchase applications dropped 2.0%, it was the -1.7% drop in refis (which followed a 4.9% drop the previous week) that was once again the biggest concern, as it plumbed levels not seen since the fall of Lehman, nearly a decade ago.

  •  last year, 37% of mortgage-origination volume was because of refinancings, according to industry research group Inside Mortgage Finance. That is the smallest proportion since 1995, and the number of refinancings is widely expected to shrink again this year. In 2012, refinancings were 72% of originations.
  • While purchase activity has climbed steadily from a post-financial-crisis nadir in 2011, growth in 2017 wasn’t enough to offset a $366 billion decline in refinancing activity. The result: The overall mortgage market fell around 12%, to $1.8 trillion, according to Inside Mortgage Finance.
  • We demonstrated this plunge in bank mortgage financing last quarter when we showed the near record low mortgage application activity at America’s largest traditional mortgage lender, Wells Fargo.

  •  the higher rates rise, the more mortgage applications drop, suggesting that contrary to expectations for a rebound in interest expense as Net Interest Margin rises, bank will be far worse off as a result of rising rates as refi activity grinds to a crawl. 
  • The Mortgage Bankers Association expects nothing short of a bloodbath: it forecasts overall mortgage-purchase volume to grow about 5% in 2018 but refinancing volume to drop 27%.

Source: zerohedge.com

The Genie’s Out of the Bottle: Eight Defining Trends Are Reversing

  • Eight Key Trends/Cycles Are Turning
  • In the current era, eight interconnected trends/cycles are either reaching the end of their run or reversing:

Central bank distortion/manipulation of markets.

— The business cycle of credit/debt expansion and contraction.

— The yield/interest rate cycle.

— The commodity cycle.

— The stock market cycle.

— Regulation.

— Globalization.

— Demographics.

 

  • Central Bank Distortion / Manipulation of Markets
  • Minus the $21 trillion in central bank asset purchases and trillions more in liquidity/credit programs, would the global economy be growing and global markets be at nosebleed heights? We all know the answer is “no.”
  • Central banks have engineered a “recovery” that looks real enough on the surface, but what are its foundations? Gamed statistics and manipulated markets—in other words, controlling not just the narrative but the information available to market participants.  To achieve the desired outcome—rising equity markets, near-zero bond yields and incentivizing the purchase of risk-on assets—central banks have distorted market information and mechanisms.
  •  The Business Cycle of Credit Expansion & Contraction
  • The business cycle is a basic structure of any economy based on credit and flows of capital seeking the highest available returns at the lowest available risk. In the expansion stage, households and enterprises borrow more money to boost production and satisfy unmet demand. 
  • When too much income is being devoted to servicing existing debt, there’s no more net income available to support additional borrowing. Lenders facing losses due to defaults tighten lending standards, and credit—and thus the economy—contracts.
  • The Yield / Interest Rate Cycle
  • Many observers are confident interest rates cannot rise due to the deflationary forces in play. Indeed, they predict a future decline in rates back to zero. Perhaps, but history suggests interest rates typically move in long cycles of roughly two or three decades. The current downtrend in rates dates back to 1981, which means the current trend is pushing 40 years. That’s stretching the historical boundaries.
  • The Commodity Cycle
  • Compared to the stock market (the S&P 500), commodities are at their cyclical lows. As to what happens next, we need only look at a single chart,

  • The Stock Market Cycle
  • We’re implicitly being told that stock markets can loft higher forever, as long as central banks are pumping out the financial stimulus. But nothing goes up forever; valuations get stretched, marginal buyers disappear and doubts about the continuing efficacy of central bank distortions creep in.
  • The current leaders—the so-called FAANG stocks—are getting tired.  The tech leaders have reached a scale where growth must slow;
  • Globalization
  •  This distributed new income and prosperity to hundreds of millions of people, and yet it also concentrated much of the newfound wealth in the hands of the few and left many behind.
  • Nothing goes up forever, not even globalization.  Those left behind are starting to wonder if the good of globalization outweighs the costs.
  • Demographics

Source:oftwominds.com

  •  Christine Lagarde warned about the dangers of the world being “sucked into a protectionist spiral” that would undermine global growth – the latest sign that the IMF’s upcoming global growth projection might be somewhat less enthusiastic than the nearly 4% rate for this year and next forecast by the IMF in January.

  •   Lagarde said the global economy is benefiting from surging investment, recovering trade and “favorable” financial conditions (low or negative interest rates) all of which are encouraging companies and households to spend more money. We know this is a lie

  •  growing protectionism could quickly reverse out all of this she said. “Yes, the current global picture is bright. But we can see darker clouds looming,” she said.

 The central banks biggest fear is that the world would notice that without the central banks the economies grow and do much better than with a central banks

Source: zerohedge.com

Political/Rights

  •   House Intelligence Committee Chairman Devin Nunes has finally managed to pry the (mostly unredacted) electronic communication, shared with the FBI by one of America’s “intelligence partners”, from the grip of the DOJ.
  • Nunes subpoeanad the DOJ for all documents used to justify the initial FISA warrant against Trump advisor Carter Page and other threads of the initial Russia collusion probe,
  • The document in question is a two-page “electronic communication” that was supplied to the FISA court
  • Nunes and members of his committee were supplied with a heavily redacted version of the document last year, but Nunes complained that it was virtually indecipherable. The only redactions in the draft distributed to members of the committee were “narrowly tailored” to “protect national security interests” so as not to “undermine the trust” between the US and this foreign nation.

Source: zerohedge.com

Here is why PAUL RYAN resigned: PHOtO w SOCCER MOUFAZ outed as Al-Qaeda operative in McCain, Hillary, Obama plan to CREATE & ARM ISIS sold to Congress as “Moderate” Syrian Rebels in 2013 will be outed as

White House Supports Everyone’s Constitutional Right to Speak Freely on Facebook, Other Platforms

  • In light of Facebook hearings on Capitol Hill, White House press secretary Sarah Sanders acknowledged the constitutional rights of all Americans to “speak freely” on platforms like the social media site.
  • During Wednesday’s House Energy and Commerce Committee hearing, Rep. Marsha Blackburn asked Zuckerberg, “Do you subjectively manipulate your algorithms to prioritize or censor speech?” Zuckerberg replied that he doesn’t think what they are doing is “censoring speech” and that they do censor “types of content like terrorism.” Blackburn shot back, “Let me tell you something right now, Diamond and Silk is not terrorism.”
  • Diamond and Silk are fervent supporters of President Donald Trump who publish their commentary on YouTube and other internet platforms. Their Facebook page has over 1.4 million “likes.” Though Zuckerberg claimed in the congressional hearing that Facebook made an error in censoring their page and that the company had been in touch with them, the women posted Wednesday night that Facebook had not contacted them since an April 5 communication in which Facebook called the two “Unsafe to the Community.”

Internet Bill Of Rights

Q Post 605, Jan 25 2018

Source: breitbart.com


Geopolitical/Police State

  • Echoing findings by UK government scientist Gary Aitkenhead, the Organization for the Prohibition of Chemical Weapons (OPCW) said Thursday that its investigators had “confirmed the findings of the UK relating to the identity of the toxic chemical that was used in Salisbury”
  • Effectively the lab confirmed that the military grade nerve agent used to poison Sergei Skripal and Yulia Skripal during an attack which reportedly took place at a public shopping center was, in fact, Novichok – a nerve agent developed by the Soviet Union, even if the OPCW did not explicitly name it. But crucially, like the scientists at Porton Down, the OPCW was unable to identify the origins of the nerve agent,

The international chemical weapons watchdog has confirmed Britain’s finding that a former spy and his daughter were poisoned with a nerve agent.

The report Thursday says Organization for the Prohibition of Chemical Weapons investigators “confirm the findings of the United Kingdom relating to the identity of the toxic chemical that was used in Salisbury.”

It says the chemical was “of high purity.” The summary does not name Novichok – the name that was previously given by British Prime Minister Theresa May – but says the details of the toxin are in the full classified report.

It does not identify the source.

Source: zerohedge.com


War

Not in My Name, Theresa May: Social Media Users Oppose UK Strikes in Syria

  • A plethora of reactions emerged on Twitter and Instagram to the news the UK Prime Minister is contemplating joining in any US-led strikes in response to an alleged chemical attack in Syria’s Douma.
  • Commentators on social media platforms expressed their concern with Britain’s readiness to get involved in a military action abroad and pointed out the government’s will to spend money on foreign intervention, while a number of social sectors suffer from cuts and underfunding.
  • The hashtag #notinmynametheresamay gained traction on Twitter and Instagram, as concerned users lashed out against Theresa May joining the US president Donald Trump in attacking Syria.

Source: sputniknews.com

STUNNING evidence from BBC journalist exposing White Helmets staging chemical attacks in Douma

  • BBC journalist is confronted after deleting tweet calling chemical attacks in Syria “staged” scenes.

FacebookTwitter

 A BBC journalist expressed skepticism about an alleged chemical attack in Syria

The BBC journalist tweeted that he was tired of “staged” scenes before deleting the post.

 

Yesterday a BBC journalist (see above) posted a rare admission that #Syria rebels & activists are manipulating photos of dead #Douma children for western media propaganda purposes. Today the BBC journalist has deleted his tweet but, for the record, a screen shot of it is here pic.twitter.com/MvZ9OjHV5P

Source: theduran.com

First Group of OPCW Experts Heads for Syria – Source

  • Russian servicemen in Syria are ready to ensure security of the Organisation for the Prohibition of Chemical Weapons (OPCW) experts, who are heading for Syria to investigate into the alleged chemical weapons incident in the city of Douma, according to the Russian Foreign ministry.
    • The first group of experts from a fact-finding mission, aimed at establishing facts surrounding the alleged used of chemical weapons in Syria, has arrived in Lebanon’s capital Beirut, the diplomatic source told Sputnik.
    • According to the source, the arrival of the main part of specialists in the Lebanese capital is expected tomorrow. Afterwards, the expert group accompanied by representatives of the office of the UN Secretary-General’s special envoy for the Syrian settlement will go to Damascus, the source noted.
    • “The OPCW experts intend to conduct a complex of procedures for collecting facts about the alleged chemical incident on April 7 in the city of Douma. It is also possible that they will take soil samples for research in certified OPCW laboratories,” the source added.
    • The Russian Foreign Ministry on Wednesday welcomed the decision of the director general of the OPCW to send specialists to the Syrian city of Douma to probe claimes about a chemical attack that allegedly took place in Syria.

 

  • Representatives of the Russian Reconciliation Center for Syria inspected the place of the alleged attack and questioned local doctors, who said that they had not received individuals with symptoms of any chemical poisoning. Red Crescent found no trace of chemical weapons usage in Syria’s Douma as well.

Source: sputniknews.com

Syrian Forces Took Full Control Of Douma – Russian Military

  • Syrian forces have taken full control of the district of Douma thus liberating the entire Damascus subrub of Eastern Ghouta from militants, 
  • He added that units of the Russian Military Police will be deployed in Douma following its liberation to maintain law and order during its transitional period to come under control of the Syrian government.

Syrian Forces Took Full Control Of Douma - Russian Military

  • Tne liberation of Douma and thus Eastern Ghouta is a key development for the military conflict in Syria. Now, Syrian forces will be able to free up a large number of troops and equipment that can be involved in the operations across Syria. T

Source: southfront.org

Syrian army arrests British militants in Eastern Ghouta

  • A number of British forces have been captured by the Syrian army during military operations in Eastern Ghouta, according to reports . They are believed to be a part of international military forces deployed in the region to launch a ground assault in Damascus in cooperation with the US. According to the report, the US and other NATO countries, Jordan and Israel planned to launch attacks from several fronts, but the plot failed as Syrian armed forces made a series of rapid advances in Eastern Ghouta in March. The plot allegedly involved massive airstrikes by US and Israeli planes that were supposed to pave the way for ground forces.“After the plot was disclosed, the Syrian-Russian military commanders started operations in Eastern Ghouta to repel it,”  Since the plot failed due to rapid advances by the Syrian army, the US cancelled all operations planned for these foreign forces and ordered an immediate withdrawal from Eastern Ghouta through the eastern suburbs of Damascus, including Douma.The US and Turkey sought to rescue foreign “militants and agents operating for Israel, Jordan and NATO,” now trapped in Ghouta, and move them to Idlib, the source says.

Source: sott.net

Russia-US Military Communication Channel in Syria Open – Kremlin

, the communication through military channels between the Russian and US armed forces on Syria is active.

Source: sputniknews.com

Flashback to 2013  UN accuses Syrian rebels of carrying out sarin gas attacks which had been blamed on Assad’s troops

  • Carla Del Ponte said UN Commission investigating war crimes in Syria has ‘strong, concrete suspicions’ that rebels used chemical weapons
  • Her remarks contradict statements by the U.S. and UK which said intelligence indicated Syrian soldiers used the weapons
Source: dailymail.co.uk
  • Never said when an attack on Syria would take place. Could be very soon or not so soon at all! In any event, the United States, under my Administration, has done a great job of ridding the region of ISIS. Where is our “Thank you America?”
  •  
  • Of course, it may well be that Trump never strikes Syria as the US carrier Truman is roughly 2 weeks from the Syrian coast, which would mean that the UK, and/or France will be tasked with firing the cruise missiles meant to punish Assad for doing precisely the same thing he did last April when the US lobbed over 50 Tomahawks missiles at the Syrian regime.

Source: zerohedge.com

Mattis: Still no evidence on Syria chemical attack, but I believe there was one

  • US Secretary of Defense James Mattis reiterated that the Pentagon still has no independent evidence to confirm that there was a chemical weapons attack in Syria last week, but said he personally believes there was one.
  • He added that the fact-finding mission by the Organization for the Prohibition of Chemical Weapons (OPCW) may arrive at the site of the alleged attack in the town of Douma “within a week,” but stressed that the inspectors’ mandate would be limited to establishing whether chemical weapons were used at the location or not.

Source: rt.com

Breaking: UK approves use of force against Syrian government

  • According to a new statement from Downing Street, the United Kingdom’s Prime Minister and top-level advisers “agreed on the need to take action to alleviate humanitarian distress and to deter the further use of chemical weapons by the Assad regime.”

Source: almasdarnews.com

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