There is a liquidity crisis looming in Europe and not there is one that has appeared in the mortgage arena. It looks like it is subprime armageddon all over again. China makes its next move will start to use the yuan to pay for all oil purchases, other countries will begin to ramp up on yuan and drop the dollar. Facebook employees are very angry with the company and they are speaking out. China sides with Russia on the Skripal false flag event.Turkey breaks with NATO and does not expel Russian diplomats. US admits it does the planning for Saudi Arabia in regards to the Yemen war. Turkey rejects France’s offer, France said it will bring in troops into the Kurd region to help out. Trump freezes fund to the Kurd area. The appointment of Bolton is a distraction from the real operation in Iran. This is not about going to war, this is about getting the deep state faction out of Iran that is causing problems. The faction inside of Iran is pushing for regime change, they already tried once and they will try again.
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Current News – 03.31.2018
- the Brookings Institution, who just released a paper entitled “Liquidity Crisis in the Mortgage Market.”
- The punchline “ nonbank mortgage companies are vulnerable to liquidity pressures in both their loan origination and servicing activities, and we document that this sector in aggregate appears to have minimal resources to bring to bear in a stress scenario.”
… Today almost two thirds of Ginnie Mae guaranteed securities are issued by independent mortgage banks. And independent mortgage bankers are using some of the most sophisticated financial engineering that this industry has ever seen. We are also seeing greater dependence on credit lines, securitization involving multiple players, and more frequent trading of servicing rights and all of these things have created a new and challenging environment for Ginnie Mae. . . . In other words, the risk is a lot higher and business models of our issuers are a lot more complex. Add in sharply higher annual volumes, and these risks are amplified many times over. . . . Also, we have depended on sheer luck. Luck that the economy does not fall into recession and increase mortgage delinquencies. Luck that our independent mortgage bankers remain able to access their lines of credit. And luck that nothing critical falls through the cracks…
- Nonbank mortgage providers essentially borrow short and lend long, using warehouse lines of credit from banks to fund mortgages. From 2012 to the third quarter of 2017, commitments on warehouse lines has increased 70 percent. Of course, if all goes well, a mortgage will be sold quickly into the secondary market (on average 15 days) and the line will be reduced.
- The Brookings authors identify three vulnerabilities in the process.
1) margin calls due to aging risk (i.e., the time it takes the nonbank to sell the loans to a mortgage investor and repurchase the collateral) and/or mark-to-market devaluations, 2) roll-over risk and 3) covenant violations leading to cancellation of the lines.
- These vulnerabilities are very real, should there be a sudden increase in interest rates or other significant change in the market that causes collateral values to drop.
- Mortgage servicers have liquidity issues because they are required to continue making payments to investors, tax authorities, and insurers if mortgage borrowers quit making payments.
Nonbanks are vulnerable to macroeconomic shocks, rising interest rates, home price declines and job losses, often with a bare minimum down payment.
- The crash clock is ticking.
- the Financial Times reported today that not only are subprime mortgage backed securities becoming prominent again, but that the chase for yield was what fueling demand:
- mortgage originators and real estate investors to basically do the same exact thing that they were doing 2006 to 2007. After all, mortgage levels are already almost back to 2008 levels.
- For the way that our Federal Reserve has addressed the problems of 2007 or 2008,
- Just days after Beijing officially launched Yuan-denominated crude oil futures (with a bang, as shown in the chart below, surpassing Brent trading volume) which are expected to quickly become the third global price benchmark along Brent and WTI, China took the next major step in the challenging the Dollar’s supremacy as global reserve currency (and internationalizing the Yuan) when on Thursday Reuters reported that China took the first steps to paying for crude oil imports in its own currency instead of the US Dollars.
- A pilot program for yuan payment could be launched as soon as the second half of the year and regulators have already asked some financial institutions to “prepare for pricing crude imports in the yuan“,
- According to the proposed plan, Beijing would start with purchases from Russia and Angola, two nations which, like China, are keen to break the dollar’s global dominance. They are also two of the top suppliers of crude oil to China, along with Saudi Arabia.
- A change in the default crude oil transactional currency – which for decades has been the “Petrodollar”, blessing the US with global reserve currency status – would have monumental consequences for capital allocations and trade flows, not to mention geopolitics: , a shift in just a small part of global oil trade into the yuan is potentially huge. “Oil is the world’s most traded commodity, with an annual trade value of around $14 trillion, roughly equivalent to China’s gross domestic product last year.” Currently, virtually all global crude oil trading is in dollars, barring an estimated 1 per cent in other currencies. This is the basis of US dominance in the world economy.
- employees are furious over a leaked 2016 memo from a top executive seeking to justify the company’s relentless growth and “questionable” data harvesting –
- VP Andrew “Boz” Bosworth – one of Facebook CEO Mark Zuckerberg’s most trusted executives, wrote that connecting people is the greater good even if it “costs someone a life by exposing someone to bullies.
- “Maybe someone dies in a terrorist attack coordinated on our tools.”
- On Friday, the fallout from Bosworth’s leaked memo – following several weeks of outrage over the company’s data harvesting practices, has Facebook employees in an uproar,
- President Trump’s obsession and escalating feud with Jeff Bezos, and bringing Amazon to heel before it destroys what’s left of America’s crumbling brick-and-mortar retail industry, was on display Saturday morning when he fired off a series of angry tweets claiming the Bezos-owned Washington Post should register as a lobbyist and that the Post Office should jack up its parcel rates to stick it to Amazon.
- “While we are on the subject, it is reported that the U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon,” Trump tweeted.
- We know it is not Amazon that is really destroying the retail industry, so why is Trump going after Amazon, intelligence agency
- China has published a scorching editorial savaging the West’s bullying of Russia over the Skripal case.
- The editorial notes the West’s disregard of basic courtesies and of due process, and warns that other countries – including implicitly China – may one day find themselves in the same crosshairs for this sort of attack.
- several European Union members have yet to follow London’s lead. One important NATO country isn’t bowing to western Russophobia: Turkey.
- Despite calls from the UK for all of their allies to stand with them in “punishing Russia” they have failed to convince many of their fellow EU members, Israel, and Turkey to follow their suggestions.
- “Turkey isn’t considering taking any decisions against Russia.” “there is a positive and good relationship between Turkey and Russia.”
- Defense Secretary James Mattis has offered new details about US involvement in the Saudi invasion of Yemen, providing specifics about what the US is doing that contradict long-standing claims of a very limited, non-combat involvement.
- Mattis now admits the US is “doing the planning” in Yemen strikes,
- Mattis also tried to spin the already established US involvement in mid-air refueling as beneficial for civilians being bombed. He warned Saudi bombers would make “rash or hasty decisions” if they had to worry about running out of fuel before bombing a place, and might take less time to avoid hitting civilian targets.
- Obviously all of these US efforts to avoid hitting civilian targets in Yemen aren’t working, as Saudi airstrikes are still killing a shocking number of innocent bystanders. The comments are more noteworthy than just another half-hearted attempted to spin US involvement in the war as innocuous, however.
- That’s because the Senate just debated measure on the Yemen War, with Mattis and other top Pentagon officials defending their involvement as limited.
- On March 30, Foreign Minister Mevlut Cavusoglu announced that Turkey had rejected France’s offer to mediate between Turkey and the Kurdish-dominated Syrian Democratic Forces (SDF) in northern Syria and described “unacceptable,” according to the Turkish Anadolu Agency.
“Who are you to mediate between Turkey and terror groups? .. This is what France does, trying to show themselves as important, to play a role in every subject. But this is unacceptable,” Cavusoglu said, according to Anadolu Agency.
- France does not plan to conduct a new counter-terrorist operation in northern Syria, a representative of the country’s Foreign Ministry said Friday.
- “France remains involved in the joint fight [against terrorism] and does not plan to conduct a new operation in northern Syria, except the one conducted by the international coalition against Daesh*,” the representative told a briefing.
- t US President Donald Trump had frozed more than $200 million in funds for recovery efforts in Syria. According to the official, Trump made the decision after reading a news report noting that the US had committed an additional amount of $200 million to support early recovery efforts in Syria.
- The biggest loser of a US withdrawal from Syria will be the Kurdish-dominated Syrian Democratic Forces (SDF). The Kurdish-dominated force depends solely on US support to finance its military and civilian activities.
- US President Donald Trump had informed his advisers that he wants to withdraw US troops from Syria soon. One of the officials said that Trump loudly questioned why the US should remain in Syria during a discussion with his advisers.
“Once ISIS and its remnants are destroyed that the United States would be looking toward having countries in the region playing a larger role in ensuring security and leaving it at that,” the official said explaining Trump’s new stand on Syria.
- Trump’s decision to withdraw earlier than expected from Syria will cause a split within the US administration, as many senior US officials are not only against a US withdrawal, but even call for more involvement in Syria.
- Over 35,000 refugees have returned to the provinces of Deir Ezzor and Aleppo with the assistance of Russia’s Center for the Reconciliation
- On March 14 and April 13, records show, more than a dozen contributions poured into Clinton’s coffers from NXIVM, an executive and group-awareness training organization led by Brooklyn-born Keith Raniere, 47.
- Most were from first-time political donors, each giving the $2,300 maximum.
- Three of the March and April Clinton pledges came from Raniere’s most high-profile followers: Seagram heiresses Clare and Sara Bronfman, and Pamela Cafritz, daughter of D.C. A-listers Buffy and Bill Cafritz.
- President Nancy Salzman and the Bronfman sisters – are members of Bill’s charitable organization, the Clinton Global Initiative. Membership is by invitation only and requires at least a $15,000 donation per person for one year.
- HE will be the third person to fill the position in less than two years.
- Bolton is one of the GOP’s leading warmongers. Bolton wrote an op-ed for the Wall Street Journal titled “The Legal Case for Striking North Korea First”.
- Bolton spent most of his time during Barack Obama’s administration calling for the US to go to war with Iran.
- Bolton was one of the main neocons pushing war with Iraq during the Bush administration:
- He was also a supported the idea that Saddam was behind the 9/11 attacks.
Over the past two years, inspectors with the International Atomic Energy Agency (IAEA) have filed nine consecutive reports showing that Iran is living up to its commitments to constrain its nuclear program in accordance with the JCPOA. Yet Bolton claims, “I don’t think the evidence is there that this agreement is slowing them down.” Bolton has also repeatedly asserted, without any actual evidence, that Iran is on the cusp of acquiring off-the-shelf nuclear weapons from North Korea. “
Bolton’s appointment comes at an incredibly sensitive time for the Iran nuclear deal. In fact, the fate of the JCPOA will likely be decided in May—the same month as the proposed Trump-Kim summit. On Jan. 12, Trump set a 120-day deadline for European allies and Congress to “fix” the agreement, or he would stop waiving U.S. nuclear-related sanctions and withdraw from the deal. McMaster—along with Tillerson and Secretary of Defense James Mattis—repeatedly urged Trump not to trash the JCPOA, searching for a minimally sufficient agreement with Europe and U.S. lawmakers to keep the president in the deal.
A State Department team has been working with their counterparts in France, Germany, and the United Kingdom to identify a compromise that would entail additional European commitments to sanction Iran’s ballistic missile program, a reaffirmation of IAEA inspection rights, and a framework to negotiate additional restrictions on Iran’s nuclear program when constraints on uranium enrichment weaken at years 10 and 15 of the JCPOA in exchange for Trump remaining in the accord.
With nearly 70 percent of the Iranian population under the age of 40, the truth is the nation and its people could be our biggest strategic ally in the region. The majority want peace. The majority want a better relationship with the West. The majority want to connect with the rest of the world.
The deep state is in Iran, they are covertly targeting small factions within the country to make others believe it’s falling apart, they will be pushing another false flag to push regime change. Bolton has been put into this new position just like mcmasters was aloud to stay in his position while the operation in the background is conducted.
So if Iran is a puppet state, and Obama made a nuclear deal 2016 to give them 150 billion dollars. BOOM WTF x 2!!!
*Funds from the Iran deal are now being traced
That would mean Obama is a Manchurian candidate. ANOTHER FUCKING BOOM!!!