Brexit Bill becomes law, the UK is now preparing to leave the EU. Consumer confidence takes a dive. An end of an era, Toys R Us will be closing its last store. Housing prices are now starting to deflate, we saw the same thing happen in 2007, and it did not end well. Mnuchin reported that the US will be limiting Chinese investment, this turns out not to be true. Trump and patriots are now going up against the central bank, tariffs will not bring down the global economy, monetary policy will. Russia and China and many other nations are accumulating a huge amount of gold. The entire meeting between Trump Jr. was a bait and switch meeting. Trump slams media for using Obama’s pics when telling the story of separated families. The supreme court upheld the ban on certain countries. Spain and Austria are pushing back on accepting migrants. Macron says that EU countries should be sanctioned if they do not accept the immigrants. North Korea wants Japan to stop its military drills to have diplomatic talks. Protests in Iran have started and they look very similar to the Jan protests. Syrian forces push south in Syria liberating towns. US, UK funding 54 groups in Syria. OPCW is being pushed by US (deep state) to inspect military centers, this is completely out of their jurisdiction. Ben Rhodes admits that under Obama they were arming the paid mercenary armies in Syria and Iraq.
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 – 06.26.2018
Watch The X22 Report On Video
- The Speaker of the UK Parliament’s House of Commons chamber has announced the EU Withdrawal Bill – that has undergone hundreds of hours of debate – had been signed into law by the monarch, to cheers from Conservative lawmakers.
- “I have to notify the House in accordance with the Royal Assent Act 1967 that her Majesty has signified her royal assent to the following acts… European Union Withdrawal Act 2018,” Commons Speaker John Bercow told lawmakers during a session of the house.
- The UK PM Theresa May called the moment “historic.”
- The EU Withdrawal Bill enables the implementation of Britain’s exit from the European Union by repealing the European Communities Act 1972, the source of European Union law in the UK. Legislation made by EU institutions won’t affect the UK anymore, with the majority of existing EU law becoming domestic UK law.
- The document also upholds the Brexit day in British law as March 29, 2019 at 11pm (2300 GMT), defined by the end of the two-year Article 50 withdrawal process.
- Conference Board Consumer Confidence printed a slightly lower 126.4 (against expectations of 128.0)… Expectations dropped very modestly from 161.2 to 161.1 – holding near 2001 highs.
- The very modest drop in expectations was echoed in buying appetite for Autos and Major Appliances – which tumbled…
- Also of note is that the highest income Americans are losing confidence as lower income Americans are seeing confidence soar…
- On Saturday: “Only 6 Days Left! #toysrusclosingsale”
- On Sunday: “Hurry! Only 5 Days Left! #toysrusclosingsale #toysrus #babiesrus #alwaysatrukid”
- And on Monday: “Hurry! Only 4 Days Left! #toysrusclosingsale #babiesrus #toysrus #alwaysatrukid”
- On June 29, its remaining stores in the US will close. And then it’s over of the iconic retailer —
- The 33,000 employees, when it is all said and done in a few days, will be out of a job.
- With YoY growth having endlessly risen to its strongest since June 2014, April’s Case-Shiller data was a sudden disappointment with growth slowing to 6.56% YoY (slowest since Jan)…
- But the 20-City Composite Price has now surpassed the June 2006 record high…
- this is the weakest April home price growth since 2011
- And home prices fell in New York, San Francisco and Washington from the prior month.
- President Donald Trump has no plans to limit Chinese investment in US companies, National Trade Council Director Peter Navarro said in an interview.
- .”Earlier on Monday Secretary of the Treasury Steven Mnuchin said in a Twitter message that the White House was considering limiting investment in the United States from all countries that were trying to steal US technology.
- “Rising tariffs are the worst of many threats to the world economy”, because, among other things, “Tariffs temporarily push up inflation, making it harder for central banks to cushion the blow.”
- This statement displays a deeply entrenched confusion—if not utter misunderstanding—of some basic economic concepts. Most important, many people fail to correctly distinguish between the causes and effects of price inflation and those of monetary inflation.
- Monetary inflation is the increase in the quantity of money in an economy. This inflation causes the purchasing power of money to fall, which brings about price effects—a general rise in prices of goods and services—which we can refer to as price inflation. However, this general rise in prices following monetary inflation is disproportionate and staggered: prices will rise at different times and to different extents as money reaches a lower purchasing power.
- But monetary inflation also has non-price effects. One of these is the transfer of wealth between the last receivers of the new money toward the first receivers.
- Another—and even more important—is the distortion of the pattern of investment and production, as the new money being created through credit expansion reaches stock markets and businesses—thus artificially reducing the interest rate. This latter effect explains the occurrence of production booms misaligned with consumer preferences, and the later, inevitable economic bust or crash. These price and non-price effects of monetary inflation are general and underline every possible economic activity.
- Trade tariffs, on the other hand, affect only some markets and bring about increases in some prices in the economy. As this happens, our consumption patterns change: if we consume fewer imports, prices of domestic substitutes will rise. If our consumption of imports rises or does not change, we will have a reduced income to spend on other goods, whose prices will now fall. Whatever the result, it does not engender a ‘general’ rise in prices, or a depreciation of the currency as a result.
- Moreover, even if tariffs were applied to every good and service, there would be no systematic, inter-temporal distortion of the structure of production. A stalling of productive activity and a rise in production costs is likely to occur, as capital goods—e.g. steel or aluminum—will now be more expensive. But capital is now underutilized, not squandered. There may be less investment, but no malinvestment.
- Understanding this, it is easier to see then that trade tariffs, as bad as they are, cannot produce an economic bust in the same sense as occurs in the business cycle
- The worst thing, by far, for a world economy of interconnected financial and capital markets, is monetary inflation and credit expansion. It is never a cure, and always a curse. Trade tariffs are, however, the second worst threat to a global market
- gold accumulation has been a Russian trend since 2015.
- Other countries, especially China, has also been hoarding gold for years. This foreign increase in gold supply could devalue the U.S. dollar and dethrone it as the global reserve currency of choice. It would certainly create a bullish gold market.
- The U.S. has been keeping the price of gold artificially low via paper contracts to prevent the further devaluation of the dollar. But this has made it easier for Russia and China to buy up and increase their already massive reserves.
- Other countries are following suit.
- In the event of the collapse of the dollar, Russian and China are well-positioned.
- The intermediary who set up the Trump Tower meeting, Rob Goldstone, said during Congressional testimony reviewed by Breitbart that he believes the June 9, 2016 meeting was a “bait and switch” by a Russian lobbyist who promised “dirt” on Hillary Clinton, and admitted that he used hyperbolic language on purpose to ensure that the meeting would take place.
- “I, therefore, used the strongest hyperbolic language in order to secure this request from Donald Trump Jr. based on the bare facts I was given,” said Goldstone,
- Goldstone then said “it appeared to me to have been a bait and switch of somebody who appeared to be lobbying for what I now understood to be the Magnitsky act,” – which sanctions Russian officials thought to be involved in the death of a Russian tax accountant.
- Russian businessman Denis Katsyv was a key figure in an embezzlement and money laundering scheme involving New York real estate, uncovered by Russian lawyer and accountant Sergei Magnitsky. Magnitsky reportedly died in Moscow’s Butyrka prison after a year of inhumane treatment.
- Katsyv settled with the U.S. Justice department in 2017, paying a paltry $5.9 million in 2017 to settle the case – less than 3% of the amount originally sought by federal prosecutors.
- Fusion GPS was paid $523,651 by Katsyv to investigate London Banker Bill Browder who pushed for the Magnitsky Act, while Katsyv’s attorney, Natalia Veselnitskaya, was in the United States actively lobbying to remove the sanctions imposed by the Magnitsky Act.
- Fusion GPS associate Rob Goldstone set up the infamous meeting at Trump Tower between Donald Trump Jr., Katsyv’s lawyer Natalia Veselnitskaya and various associates. The meeting was shut down by Trump Jr. after it became clear Veselnitskaya wanted to discuss the Magnitsky Act.
- Hours before the Trump Tower meeting, Fusion GPS founder Glenn Simpson met with Veselnitskaya.
- Fusion GPS was paid $1,024,408 by DNC law firm Perkins Coie, which acted as an intermediary for Hillary Clinton and the DNC, to create the salacious 34 page dossier.
- Fusion paid former British spy Christopher Steele $168,000 to assemble the Trump-Russia “Steele dossier” (which included the cooperation of two senior Kremlin officials).
- Clinton campaign manager John Podesta met with Fusion CEO Glenn Simpson the day after the 34 page dossier was made public.
- For their efforts, Fusion GPS was paid over $1.5 million dollars between Hillary Clinton, the DNC, and the holding company owned by pro-Kremlin businessman Denis Katsyv.
- Also recall that Fusion GPS hired Nellie Ohr, the CIA-linked wife of demoted DOJ official, Bruce Ohr, to help with investigation Trump, and that Bruce Ohr was demoted after meeting with Simpson and Christopher Steele, the former MI6 spy who assembled the dossier for Fusion.
- Fusion is currently being sued for libel in two separate cases by three Russian businessmen-bankers in US District Court for their inclusion in the Dossier, along with the ‘secret server’ story pushed by Glenn Simpson. Alfa bank executives Mikhail Fridman, Petr Aven and German Khan filed suit in early October, claiming their reputations were harmed by the largely unsubstantiated document
- Donald Trump called out the media practice of using photos of childhood detention facilities from Obama years to criticize his zero-tolerance policy at the U.S.-Mexico border
- “President Obama had a big problem. A lot of the pictures used they how old the — I don’t know what you folks did. You used pictures from 2014. They were taken during the Obama administration. The Bush administration had the same. It’s the same laws. They’re a disaster.”
- Photos have once again resurfaced of the Obama administration’s detention facilities at the time showing tens of thousands of children from central America flooded the U.S.-Mexico border and were often kept in fenced off conditions wrapped in foil blankets. .
- As was widely expected, the Supreme Court has handed the Trump administration its first major court victory over its travel ban after three successive versions of the ban were challenged by lower courts. In a 5-4 vote, the conservatives on the court backed the Trump administration, rejecting the notion that the ban discriminated against Muslims and refusing to question the administration’s national security claims. The Supreme Court also rejected the San Francisco appeals’ court’s finding that Trump had exceeded his authority over immigration.
- As we pointed out yesterday, the court had appeared to side with Trump during oral arguments back in April, when the White House has argued that the ban is necessary to protect the US from attacks plotted by foreign jihadis,
- Spanish authorities said they will not admit the Lifeline rescue boat with some 230 migrants on board to its ports. Spain cannot become “the sea rescue organization for all of Europe,” Spanish Economic Development Minister Jose Luis Abalos said, commenting on the issue, as cited by Deutsche Welle. The decision came after the vessel had already been turned away by Italy and Malta. Earlier in June, Spain accepted another migrant rescue ship called Aquarius in a similar situation.
- Days after Austria threatened to reinstate border checks, Austrian forces conducted border-security exercises on Monday in the border town of Spielfeld in preparation for a wave of 80,000 migrants expected to travel through the new “Balkan route” from Albania, Montenegro, Bosnia and Croatia to Western and Central Europe.
- French President Emmanuel Macron came out Saturday in support of financial sanctions against EU countries which refuse to accept migrants.”We can not have countries that benefit hugely from EU solidarity and claim national self-interest when it comes to the issue of migrants,” he said at a press conference in Paris alongside Spain‘s new Prime Minister Pedro Sanchez.”I am in favour of sanctions being imposed in the event of no cooperation,” he said.
- Japan’s Prime Minister Abe Shinzo has expressed his own interest to meet Kim, but North Korean state media was very dismissive of that idea on Monday. They warned Japan would continue to be “passed over” on diplomacy unless they made substantial changes.
- Abe has made remilitarization a major foreign policy priority, and that has not escaped North Korean notice. The state media piece says Japan needs to end large-scale military drills directed at North Korea, as well as ending their general policy of building up their military capabilities.
- Taliban rejecting calls by Afghan elders to extend a previously expired ceasefire. The Taliban said the push for another pause amounted to a call to surrender.
- Large protetss against rising prices and the plummeting value of the national currency have taken place in Iran.
- Thousands of people took to the streets of the capital and marched towards parliament. Protesters also clashes with Police that used tear gas to disperse demonstrations.
- According to estimates, it was the biggest protest in Tehran since 2012.
- A dollar is currently worth as much as 90,000 rials,compared with 42,890 at the end of 2017.
- Iranian media also acknowledged the heavy presence of security forces in and around the bazaar to maintain order, and reports of clashes in front of parliament.
Protests happening in a few cities in #Iran including Tehran. Mostly at the Bazar and in response to economic troubles and a decrease in the value of the currency. In this video crowd chants: Iranians it’s enough, show your pride. pic.twitter.com/QZcga6wB8v
- The Syrian Arab Army (SAA) continued their advance in southwest Syria, today, after seizing the strategic town of Busra Al-Harir and neighboring Maliha Al-Atrash.
- The Syrian Arab Army (SAA) has seized their first major town in southwest Syria after launching a powerful attack last night.
- Led by their elite Tiger Forces, the Syrian military managed to crack the lines of the jihadist rebels last night after surprising them with an attack on the northeastern and western flanks of Busra Al-Harir.
- The Tiger Forces are now claiming that they are fully in control of Busra Al-Harir, which is the first major town that they have captured during their southwest Syria offensive.
- The Israeli Air Force allegedly fired two missiles at the Syrian capital city of Damascus,
- According to these reports, the Israeli Air Force fired two missiles at an Iranian cargo plane that was being unloaded at the Damascus International Airport.
- A Syrian military source confirmed that the Damascus Airport area was targeted, but they could not verify the reports about the Iranian plane being targeted.
- A report of the technical secretariat of the Organization for the Prohibition of Chemical Weapons (OPCW) demanding access to military infrastructure facilities in Syria was passed under the strongest pressure from the United States, the Russian foreign ministry said on Monday.
- “We took notice of the report by Director General of the Organization for the Prohibition of Chemical Weapons (OPCW) Ahmet Uzumcu on the implementation of the resolution of the 83rd session of the OPCW Executive Council,” the ministry said. “We have repeatedly said that the reports demands to Syria are beyond the framework of the Chemical Weapons Convention.”
- “Attempts to obtain unimpeded and unconditional access for OPCW inspector to any (meaning secret) military and civil infrastructure facilities go far beyond the framework of international law,” the ministry stressed. “Obviously, such a document was passed under the strongest pressure from the United States and its closest allies. It would be interesting to see what the United States would do should anyone seek to inspect its own facilities this way.”
- The ministry noted that OPCW experts had twice confirmed the absence of prohibited activities at the research facility in Syria’s Barzah and now the West is seeking to dodge answering the question why it delivered a missile strike on this facility.
- An extraordinary session of member-states of the Organization for the Prohibition of Chemical Weapons (OPCW) initiated by the UK is starting in The Hague on Tuesday. At the meeting, western countries might attempt to empower the Organization to apportion blame for incidents with the use of chemical agents. Russia considers the proposal self-defeating as it creates a temptation for western countries having a huge influence on decision-making in the Organization, to manipulate its opinion.
- Russian Deputy Foreign Minister says that over 40% of the so-called southwestern de-escalation zone is controlled by terrorists. The statement clearly justifies a military operation of the Syrian Army in the area and comes amid already ongoing clashes southeast of Daraa.
- ceasefire talks are underway with those groups that distant themselves from terrorists,
- US military and a cohort of allies including Israel, Britain, France, Jordan and “some Persian Gulf states” are still supporting some 54 militia groups in Syria.
- The US, Russia and United Nations all designate al-Nusra Front, also known as al-Qaeda in Syria, a terrorist organization. But for some reason, the terror group’s fighters appear “to be deeply entrenched alongside these US-backed militias in key, strategic towns and villages scattered throughout” the southern part of Syria,
- Someone finally asked Obama administration officials to own up to the rise of ISIS and arming jihadists in Syria.In a wide ranging interview titled “Confronting the Consequences of Obama’s Foreign Policy” The Intercept’s Mehdi Hasan put the question to Ben Rhodes, who served as longtime deputy national security adviser at the White House under Obama . Rhodes has been described as being so trusted and close to Obama that he was “in the room” for almost every foreign policy decision of significance that Obama made during his eight years in office.
In spite of Rhodes trying to dance around the issue, he sheepishly answers in the affirmative when Mehdi Hasan asks the following question about supporting jihadists in Syria: haasan says“Oh, come on, but you were coordinating a lot of their arms.” rhodes says“yeah…”