ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 13 18:23

Investors Pile Back Into Stocks

Feb 13 16:52

Are We Already In A Recession?

Feb 13 16:28

Rate Hikes off the Table?

Feb 13 15:09

Debt Crisis In America: A Record Number Of Americans Are Behind On Car Payments

Debt has become an issue of concern for those who care about their financial future. But with the government setting the terrible example of drastically spending more than they bring in, many in America are following suit and it is leading to a crisis and a red flag for the economy.

Feb 13 12:23

Scott Adams: Talking to @Naval Ravikant About All the Important Stuff

Bonus broadcast!

Trusting experts and science
Fusion power’s future
Crypto, here to stay?
Turn-around specialists for countries (like Venezuela)
A retirement plan for the entire U.S. legal population
What will the future of news look like?
Who currently holds the most power in the U.S.?
Who’s thumb is on the scale?
Twitter will become an unbiased protocol or…
…democracy won’t stand for its control and power
Is Universal Basic Income and Socialism the future?
What form will future educational systems have?
What are life’s biggest illusions?
Thoughts on The Simulation
Old problems were about scarcity, now they’re about abundance
Author recommendations

https://twitter.com/ScottAdamsSays/status/1095428576076152832

Feb 13 11:44

A $77 billion derailment

The most ambitious infrastructure project in America looks dead, at least for now, after its estimated costs had swelled to $77 billion.

California Gov. Gavin Newsom has called for dramatically dialing back the formidable high-speed rail project. In a speech today, he said "there simply isn’t a path to get from Sacramento to San Diego, let alone from San Francisco to L.A. I wish there were.” The project will be confined to California’s Central Valley, running from Merced to Bakersfield, Newsom said.

Feb 13 11:20

VENEZUELAN OPPOSITION RECEIVES FIRST BLOCKED AID SHIPMENTS IN DEFIANCE OF MADURO

As part of the continued jostling over the contentious issue of the US intent to deliver foreign aid to Venezuela, which embattled president Nicolas Maduro has controversially banned — going so far as to post troops along potential border access points — opposition leader Juan Guaido announced on Monday that his team had received its first shipment of external humanitarian aid cargo, yet he didn't specify how it was received or which country or organization was the source.

Webmaster's Commentary: 

And one could not help but notice who President Trump had as guests at the White House this morning: Columbia's President Iván Duque Márquez, and his wife, María Juliana Ruiz Sandoval.

Most likely, if in fact this aid came from the US, the supply lines are well and truly carved out in Colombia, and Marquez and President Trump will be figuring out the next political and military steps which must be taken to "regime change" Venezuela to their liking.

Of course, what the Venezuelan people have to say about this, is nothing over which they will expend any skull-sweat whatsoever.

Feb 13 11:06

California Governor Gavin Newsom Cancels High-speed Rail: ‘Would Cost Too Much and Take Too Long’

California Governor Gavin Newsom announced Tuesday in his “State of the State” address at the California State Capitol in Sacramento that he would abandon the state’s high-speed rail system because it was too expensive.

The plan to connect San Francisco to Los Angeles by high-speed rail “would cost too much and, respectfully, would take too long,” he told legislators. He said the state would still build a portion of the system under construction in the rural Central Valley, denying that it would be a “train to nowhere.” He said the state would not send $3.5 billion back to the federal government to be spent by President Donald Trump.

But Newsom said the state could not afford the total cost — even with what he noted was a “record-breaking surplus” in the state’s coffers, thanks to the ongoing economic recovery.

Feb 13 11:05

Activision Blizzard cuts nearly 800 jobs amid ‘record results in 2018’

Activision Blizzard has announced that it’s laying off 8 percent of its employees — roughly 770 people — as part of the company “de-prioritizing initiatives that are not meeting expectations.”

The news came on the heels of announcement of Activision Blizzard’s Q4 and 2018 earnings, where CEO Bobby Kotick gave the company’s “record results in 2018.” Kotick went on to comment that, “While our financial results for 2018 were the best in our history, we didn’t realize our full potential.”

As such, Activision Blizzard says that it’ll be focusing more on its biggest franchises: Call of Duty, Candy Crush, Overwatch, Warcraft, Hearthstone, and Diablo, with plans to increase developers across those titles by “approximately 20% over the course of 2019.” (Destiny, another one of Activision’s marquee titles, parted ways with the publisher in January and is now back in the hands of developer Bungie.)

Feb 13 11:02

HERE'S A LIST OF THE 31 NATIONAL EMERGENCIES THAT HAVE BEEN IN EFFECT FOR YEARS

According to the Federal Register, 58 national emergencies have been declared since the National Emergency Act of 1976 was signed into law by President Gerald Ford.

And 31 have been annually renewed and are currently still in effect, as listed in the Federal Register.

Webmaster's Commentary: 

The questions I would like to ask are, why these 31 Emergency Declarations have not been removed, and what threats do these situations still create, that they have to stay renewed?!?

I am sorry, but must confess that, from my perspective, it is US Foreign policy is which is creating enemies where it should be creating friendships and alliances.

Folks, we have been trading with Vietnam for a long time Clinton presidency normalizes relations with Vietnam

So what about relations with Cuba, please?!?

Mike and I know a police officer from Canada, who, when he needed surgery to get his knees replaced, was sent to Cuba, as these doctors and medical teams here, have one of the most stellar track records for shorter recuperations, and good surgical outcomes.

Why cannot Americans take advantage of this?!?

Why cannot there be cultural, educational exchanges, so Cuban kids could get a dose of (healthy, not exploitative) capitalism, in the kind homes of good US sponsors whose own kids may be in homes in Cuba?!?

I think such exchanges would sow the seeds of mutual understanding and support between Cuba and the US, and could be an important building block to normalized relations with the country.

Or, one has to ask, does the Trump Administration WANT Russia to come back as a huge influence in this very strategically placed island, as another "reason" for invading and reconquering Cuba?!?

Folks, all we have in Cuba is Guantanamo, one leased encampment, and that is a horrible place, where people the US suspects of trying to do something awful are thrown, and frequently with no charges against them.

Inmates are still force-fed, if they elect to do a hunger strike, so they won't die quickly.

Because water-boarding is not the worst which has been done to these men, and the American military doesn't want autopsies done which would validate that this was true.

The following are very graphic images of men being force-fed; if you don't have the stomach for it, don't look.Images: inmates being force-fed (believed to be still be happening in 2019, at Guantanamo

IF we are. in fact, a nation of laws, why do we hold people indefinitely, without charges?!? Even the rankest of US criminals has that right.

Feb 13 10:47

Household Debt Closes 2018 at $13.54 Trillion

Feb 13 10:19

Regardless, utility “Smart” Meters are going to be installed in homes of dementia patients in the UK so they can be monitored and tracked.

Issues associated with them include fires, explosions, malfunctioning appliances, measurement errors, and inflated bills. None of that is obviously good for dementia patients or anyone else really. They also emit harmful wireless WiFi radiation. Research has determined that exposure to wireless radiation can disrupt the blood-brain barrier which may cause it to leak. This can also kill brain cells. Regardless, utility “Smart” Meters are going to be installed in homes of dementia patients in the UK so they can be monitored and tracked. As if these dementia patients didn’t already have enough problems…

They will flag up any sudden change in behaviour which could indicate an illness, a fall or a decline in their mental state. The meters will be able to send alerts to family members or carers, who can pop round to check if the patient is all right.

Webmaster's Commentary: 

One has to wonder, if Britain's NHS is hoping that the installation of these meters will hasten the demise of their dementia patients, rather than give them the best possible quality of life before they pass on.

And the issue of what happens to the data, after it is collected, will most probably be a real challenge for security network people, in keeping this data secure.

Feb 13 10:08

TULSI GABBARD WANTS TO LEGALIZE MARIJUANA, PUNISH BIG PHARMA AND END PRIVATE PRISONS

Tulsi Gabbard, Hawaii’s democratic congresswoman and one of many entrants in the crowded 2020 presidential race, is already turning heads thanks to her anti-interventionist foreign policy approach and progressive stance on a variety of issues, making her an outlier among establishment Democrats.

If her pre-campaign messaging and campaign launch speech are any indicator, the potential presidential contender has no intention of backing down – especially when it comes to her strong advocacy of medical marijuana and harsh criticisms of the criminal justice system and pharmaceutical industry.

Declaring her formal entrance into the Democratic Party presidential primaries, Gabbard issued a rousing call to end the for-profit prison industry, which has seen private corrections corporations rake in profits while shirking prisoners’ and immigrant detainees’ food, health care, and other essential services while exploiting incarcerated people as essentially slave labor.

Webmaster's Commentary: 

Unfortunately, because of Gabbard's duel status as a Vet, and as a peace advocate, the chances of her getting the (probably totally rigged again) Democratic nomination are zilch; but it is refreshing to have someone in the running who appears to stand on principle, and not being "bought off" by the large interest groups in this country with everything they have invested in keeping the status quo.

Feb 13 10:02

Turkey's president says Venezuelan gold to be processed in Turkey

Turkish President Recep Tayyip Erdogan said Tuesday that Venezuela's gold will be refined in central Turkey's Corum.

"Venezuelan gold will be refined in Corum ... We will develop Corum for the gold trade and the city to a better position in this field," Erdogan said during an election rally ahead of March 31 municipal elections in this city located east of capital Ankara, CNN Turk news channel reported.

Turkey, a NATO country, aligned itself with those behind Venezuelan President Nicolas Maduro in a bitter crisis in which he is opposed to National Assembly leader Juan Guaido who declared himself Venezuela's rightful president last month.

Erdogan traveled to Caracas last December and met Maduro.

Feb 13 09:53

Gold Prices In Pounds and Euros Gain More as Economic Growth Falters in the UK and EU

Gold prices broke over €1,160 (EUR) and £1,020 (GBP) per ounce mark yesterday following more poor economic data out of the EU and the UK. The British pound has again come under selling pressure due to Brexit uncertainty and the very poor UK economic data has made matters worse.

The UK economy plunged into reverse in December, with a broad based slump in economic output which completed the weakest year for growth since 2012. The Office for National Statistics (ONS) said gross domestic product (GDP) contracted by 0.4% from the previous month, driven by a fall in spending on the high street over the key festive shopping period.

Yesterday, gold denominated in euros climbed to the highest since early May, 2017, at €1,164.65 euros per ounce. Numbers from EU countries have consistently disappointed and the Euro-area growth forecast is for it to slow to just above 1% this year. The EU and the UK are two of a growing number of “weak links” in the global economy.

Feb 13 09:53

Venezuela hopes to create non-dollar trading bloc

Venezuela hopes to create a trade bloc consisting of China, India and Russia to help the South American country settle oil payments in currencies other than the dollar, its oil minister said on Tuesday.

The strife-torn country is looking for alternative payment methods to keep oil flowing to India, a crucial export market, especially after the United States imposed sanctions curbing the OPEC member’s crude exports to the United States.

“We all can build one economy and that economy does not necessarily have to be within the dollar economy,” Manuel Quevedo said, referring to China, Russia and India.

Quevedo, who on Monday said Caracas was open to barter trade with New Delhi, declined to disclose details on how he planned to do business with India.

Feb 13 09:24

Powerful US influence drove EU to slap new sanctions on Russia, Lavrov says

The anti-Russian sanctions of the European Union in light of the situation in the Kerch Strait are being taken under Washington’s powerful pressure, Russian Foreign Minister Sergey Lavrov said on Wednesday, commenting on reports of possible new sanctions of the EU and the US against Russia.

"We said long ago that we do not discuss sanctions with anyone. We want to improve our economy and trade with normal Western partners so that not to depend on anybody’s whims - in this case the whims of those who did not keep their word and did not make the opposition carry out their agreements with [former Ukrainian] President [Viktor] Yanukovich," the minister noted.

"We are also dealing with the people who introduced sanctions over the Crimeans’ expression of will and over the events evolving in the region in general, in particular in eastern Ukraine."

Feb 13 09:17

Italy to Explore ‘Bilateral Ties’ for WTO Brexit over Fear of Losing Trade

Italy’s populist, Eurosceptic government is examining potential bilateral arrangements with the UK in the event of a no-deal Brexit to safeguard against potential economic damage.

The UK is Italy’s third largest food products market, after Germany and the United States, accounting for €23 billion (£20bn/$26bn) annually — a bilateral surplus of €10 billion (£8.8bn/$11.3bn).

The country’s coalition government of the right-populist League and anti-establishment Five Star Movement (M5S) is worried that the European Commission’s inflexible attitude to Brexit will come at a cost of EU member state Italy, reports The Telegraph, with Prime Minister Giuseppe Conte telling his Brexit Task Force to examine the impact a no-deal will have on trade, ports, and customs.

Feb 13 09:04

Strike shuts Belgian airspace, paralyzes public transport

Belgium has closed its airspace for 24 hours during a nationwide strike. The industrial action, which continues to Wednesday night, is also affecting police, hospitals, buses and trains.

Feb 13 09:02

All the ways Gen X is financially wrecked

Feb 13 08:56

China has taken over Scotland's North Sea oil production

China has taken over Scotland's oil production and now controls two of the North Sea's biggest oilfields.

According to The Times' analysis of China National Offshore Oil Corporation's (CNOOC) accounts, a CNOOC-owned company Nexen extracts nearly 200,000 barrels of oil per day across those two fields. This makes it the largest producer in the area.

According to The Times, CNOOC, a state-owned oil company and is controlled by China's ruling communist party, has been able to grow its marketshare in Scotland rapidly because former Chancellor George Osborne gave tax breaks for oil companies in the North Sea.

Feb 13 08:55

The reality of capitalism: GM makes $11.8 billion in profits while closing plants, eliminating 14,000 jobs

General Motors made $11.8 billion in profits in 2018, according to a company statement released yesterday. This included $10.8 billion in North American earnings last year and a 9.5 percent profit margin in the final quarter. These giant profits were announced as GM accelerates it plans to shut five factories in the US and Canada and destroy more than 14,000 jobs.

GM’s corporate board initiated the jobs massacre two days before the release of the profit report, which showed an eight percent decline over last year’s profits. The aim is to reassure Wall Street that GM will not bow to popular outrage over the plant closings and mass layoffs.

Feb 13 08:34

Hands off ‘our hemisphere’ or Venezuela pays the price: US Senator warns Russia

This is pathetic. Without Venezuela and their gold the district of criminals is finished!

The US staked a claim on half the world, as Senate Armed Services Committee chair Jim Inhofe said Washington might have to intervene in Venezuela if Russia dares set up a military base not just there, but “in our hemisphere.”
“I think that it could happen,” Inhofe (R-Oklahoma) told a group of reporters on Tuesday. “You’ve got a guy down there that is killing everybody. You could have him put together a base that Russia would have on our hemisphere. And if those things happen, it may be to the point where we’ll have to intervene with troops and respond.”

Feb 13 08:27

Tech Elites, Donor Class Unite with GOP/Dems to Outsource White-Collar American Jobs

A plan known as the Fairness for High-Skilled Immigrants Act, introduced in the Senate by Sens. Mike Lee (R-UT) and Kamala Harris (D-CA), as well as Reps. Zoe Lofgren (D-CA) and Ken Buck (R-CO), would eliminate the U.S. country caps in the legal immigration system and would fast-track outsourcing of white-collar American jobs to mostly Indian and Chinese nationals imported to the country by businesses, outsourcing firms, and multinational corporations.

The country caps were originally implemented to prevent any one country from monopolizing the legal immigration system. Eliminating the country caps would immediately fast-track up to 300,000 green cards, and eventually American citizenship, to primarily Indian nationals in the U.S. on the H-1B visa, so long as they agree to take high-paying, white-collar jobs from Americans.

Feb 13 08:17

Avoid the Financial Circus

Wall Street cheerleaders assure everyone stocks go up in the long term. Yes, they rise because the dollar is devalued every year, which they seldom discuss. Their cheerleaders avoid stating that corrections and crashes occur every five to ten years. Wall Street generates fees by encouraging individuals and pension funds to stay invested for the long term.

Feb 13 05:48

$11 Trillion Debt Wave Shows MMT Doesn't Work

Feb 12 18:20

SEC’s Action Against Decentralized Exchange Raises Constitutional Questions

By Rainey Reitman

A recent public statement from the U.S. Securities and Exchange Commission implied that those engaged in writing and publishing code might need to worry about running afoul of securities laws. In its statement about the cease and desist order against the co-founder of decentralized cryptocurrency exchange EtherDelta, the SEC indicated that someone who simply “provides an algorithm” might be found to be running a securities exchange...

Feb 12 16:53

$22 Trillion

Feb 12 15:54

Fed Warns Dollar “Might Not Retain Its Dominance Forever”

Nevertheless, it concedes that "recent trends bear watching" warning that "as history suggests a currency’s dominant status is not immutable" and just in case repeating its warning that "the [US Dollar] might not retain its dominance forever."

Feb 12 15:52

Bryan’s “Cross of Gold” Speech: Mesmerizing the Masses

The most famous speech in American political history was delivered by William Jennings Bryan on July 9, 1896, at the Democratic National Convention in Chicago. The issue was whether to endorse the free coinage of silver at a ratio of silver to gold of 16 to 1. (This inflationary measure would have increased the amount of money in circulation and aided cash-poor and debt-burdened farmers.) After speeches on the subject by several U.S. Senators, Bryan rose to speak. The thirty-six-year-old former Congressman from Nebraska aspired to be the Democratic nominee for president, and he had been skillfully, but quietly, building support for himself among the delegates.

Feb 12 15:10

U.S. national debt tops $22 trillion for the first time

The U.S. national debt topped a record $22 trillion this week, less than a year after it crossed the $21 trillion mark, indicating a further deterioration in the nation’s finances. -- The Peterson Foundation said the U.S. national debt has risen by $1 trillion in the past 11 months, calling it “the latest sign that our fiscal situation is not only unsustainable, but accelerating.”

Feb 12 14:22

Stagflation Versus Hyperinflation

Feb 12 14:09

Majority Of Small Business Owners Think Recession Is Coming This Year

A nationwide survey of more than 10,000 Americans conducted by SurveyMonkey in January also found a high level of recession anxiety. Main Street looks like they understand just how glaringly bad things can become. 63 percent of Americans say a recession is likely in the next year and only 10 percent saying it was “very unlikely.” But are Americans prepared for a recession? Most analysts say no, as it seems no lessons were learned after the 2008 Great Recession.

Feb 12 13:30

Home Sales To Get Even Uglier In Near Future

What will home sales look like in January and February? Very, very lousy, according to pending home sales, a measure that counts how many contracts were signed. Contract signings run roughly one or two months ahead of when the sales close and are reported as sales. The measure of pending home sales for December projects actual home sales in January and February. To that tune, the National Association of Realtors (NAR) said that its Pending Home Sales Index for December fell to the lowest level since April 2014:“It’s been dripping down, down, down,” NAR chief economist Lawrence Yun said in the interview. “Frustrating that the housing market is not recovering.”

Feb 12 13:30

Market Convinced Jaguar Bankruptcy Only Matter Of Time

With so much attention these days on whether Tesla will be profitable, and whether or not its business model is viable for the foreseeable future, another iconic automaker is approaching dire financial straits: Jaguar Land Rover.

As the following chart shows, over the past year, CDS on Jaguar Land Rover Automotive PLC has soared from just 150bps to 900 bps.

Feb 12 13:30

America's 1% Hasn't Had This Much Wealth Since The Roaring Twenties

It’s not fashionable to wear flapper dresses and do the Charleston, but 1920s-style wealth inequality is definitely back in style.

New research says America’s ultra-rich haven’t held as much of the country’s wealth since the Jazz Age, those freewheeling times before the country’s finances shattered.

“U.S. wealth concentration seems to have returned to levels last seen during the Roaring Twenties,” wrote Gabriel Zucman, an economics professor at the University of California, Berkeley.

Zucman said all the research on the issue also points to large wealth concentrations in China and Russia in recent decades. The same thing is happening in France and the U.K., but at a “more moderate rise,” the paper said.

In 1929 — before Wall Street’s crash unleashed the Great Depression — the top 0.1% richest adults’ share of total household wealth was close to 25%, according to Zucman’s paper, which was distributed by the National Bureau of Economic Research.

Feb 12 13:29

US, EU To Slap New Sanctions On Russia

It's been at least a few months since the US or western nations unveiled some new, broad sanctions targeting Russia, and with the Mueller "collusion" report due any minute, it's time for Trump to once again remind the audience of the biggest ever soap opera, that he is not a BFF with Vladimir Putin. As such, the FT reports that the US and EU are close to agreeing a raft of new sanctions against Russia, this time in a co-ordinated push aimed at punishing Moscow for its "aggression" towards Ukraine in the Kerch strait.

Feb 12 13:19

A record 7 million Americans are 3 months behind on their car payments, a red flag for the economy

A record seven million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis era.

Despite the strong economy, many Americans continue to struggle to pay their bills. People who are three months or more behind on their car payments often lose their vehicle, making it even more difficult to get to work, the doctor or other critical places.

“The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market,” economists at the New York Fed wrote in a blog post.

Webmaster's Commentary: 

Which tells you there really isn't a strong labor market!

Feb 12 13:06

China Trade-Deal Deadline Will Likely Be Extended, Trump Aides Say

More than two months after President Trump and President Xi agreed to the trade truce over a steak dinner in Buenos Aires, a second meeting between the two leaders - one that Trump insists would be essential to striking a final trade deal - remains in doubt. But according to several Trump advisors quoted by Bloomberg, China is still pushing for a meeting (though, given that the Trump administration needs to keep the deal talk alive to buoy stocks in the face of growing calls for an earnings recession, these assurances should be taken with a grain of salt).

Feb 12 13:04

In Unprecedented Move, Santander Declines To Redeem $1.7 Billion CoCo Bond Issue

Banco Santander SA has earned its "special place in markets hell" - as Bloomberg columnist Marcus Ashworth termed it. Shares of Santander erased and earlier gain and closed lower on Tuesday after the bank confirmed anxious bondholders fears by affirming that it would refuse to exercise a call option on a €1.5 billion ($1.7 billion) issue of Additional Tier 1s - better known as contingent convertible, or CoCo - bonds.

Feb 12 11:45

We are now facing a reality of QE to infinity

Feb 12 10:54

Central Banks Buy Most Gold in Decades

Feb 12 10:21

As The Fed Reflates The Stock Bubble The Economy Crumbles

I get a kick out of these billionaires and centimillionaires, like Kyle Bass yesterday, who appear on financial television to look the viewer in the eye and tell them that economy is booming. Kyle Bass doesn’t expect a mild recession until mid-2020. Hmmm – explain that rationale to the 78%+ households who are living paycheck to paycheck, bloated with a record level of debt and barely enough savings to cover a small emergency.

Feb 12 09:30

Rant Alert

Feb 12 09:18

Possible Bank Runs At Wells Fargo After Shares Plummet

Economic collapse news. There is a possible bank run spreading after Wells Fargo shares fell 2.3% late Thursday as the outages spread. Shares of Wells Fargo & Co. (WFC) fell 0.9% Friday, a day after an outage that disrupted its banking system nationwide on Thursday. It was the second outage to hit the troubled bank in a week. reports are coming in from customers that they are unable to access their accounts as Wells sets withdrawal limits of $100 at atms.

Feb 12 09:17

Eddie Lampert’s $5.2 Billion Sears Takeover Is 'Opportunity Not to Be a Cartoon Character,' Says Judge

A bankruptcy Judge approved Eddie Lampert’s $5.2 billion takeover bid for Sears (SHLD, +0.00%) Thursday, but not before leaving the hedge fund manager with some choice words.

Lampert’s fund, ESL Investments, intends to keep 425 Sears and Kmart stores open, saving the jobs of 45,000 employees — a move that Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York described as credible.

Yet the matter didn’t end there: although Lampert was not in attendance — CNBC reports that he dialed in from his office in Florida — Judge Drain addressed him directly in his closing statement, saying that the reclusive billionaire “has the opportunity not to be a cartoon character … he should do that.”

Feb 12 08:56

Central Bank Gold Demand Spikes To Highest Level In Nearly 50 Years

There has been a fundamental shift in central banks' behavior with respect to gold over the past decade. The 2008 financial crisis led central banks to re-evaluate the relevance and importance of gold on their balance sheets. Check out the sudden change in sentiment that occurred in 2009, as central banks shifted from being net sellers to net buyers for the first time in 20 years.

Feb 12 08:47

More Irish investors storing their gold here

GoldCore has recently transported gold bullion coins and bars weighing nearly 2,000 troy ounces (over 60 kilos) and worth more than €2m into the country from the UK.

This is believed to be the largest legitimate movement of gold bullion into Ireland in decades.

The company said the movement of gold reflected a growing demand from UK and Irish investors to relocate tangible assets out of the UK and "closer to home".

It added that it expects ongoing consignments of gold bullion to be transported and securely stored in its new vaults in the run up to the Brexit deadline on March 29.

As Brexit comes to a head, GoldCore said it is seeing a growing preference amongst Irish investors to store their gold domestically here rather than Perth, Zurich, Singapore, Hong Kong, Singapore and especially London.

Feb 12 08:37

‘Furious’ Apple quits Stockholm after city rejects ambitious flagship store

Tech giant Apple is severing its ties with the Swedish capital, after reportedly flying into a rage over the Stockholm City Council vetoing its plan to build a store at a popular historic park.

The new center-right coalition in city council decided to scrap initial plans to build a giant glass and stone store at Kungsträdgården park. The building currently occupied by a restaurant was purchased by Apple a few years ago for 129mn Swedish kronor (US$13.9mn) after the previous city government approved the project.

Apple was reportedly infuriated by the decision, as the company had already made several revisions to the project to better fit the historic location.

Feb 12 08:22

Food banks furore: Amber Rudd admits botched roll-out of Universal Credit DID drive more benefits claimants to use them

Welfare reforms are partly to blame for greater use of food banks, Amber Rudd admitted yesterday.

After years of official denials, the Work and Pensions Secretary said the roll-out of Universal Credit was one of the causes of growing hunger.

The monthly benefits payment, which merges six different benefits for working-age Britons into one, was supposed to be up and running by April 2017. Having faced numerous delays, it is now not expected to be fully operational across the country until December 2023.

When Universal Credit was first rolled out, recipients had to wait six weeks for their first handout. That limit has been cut by a week – but Miss Rudd said it was absolutely clear that the delays in claimants getting their benefits had meant more were forced to turn to food banks.

Feb 12 08:19

China and the UK Will Sit to Sign Trade Deal Soon After Brexit – Scholar

British Defense Secretary Gavin Williamson is expected to make a speech on Monday, in which he’ll say that Britain must stand up to those who “flout international law”. He will also say that the UK needs bolder and stronger armed forces prepared to use “hard power”.

Williamson will also confirm that the Royal Navy's aircraft carrier HMS Queen Elizabeth is to be deployed to the Pacific region along with F-35 jets. China claims ownership to several disputed islands in the Pacific and Indian Oceans.

Earlier, Japan, India, Australia and the US formed the Quadrilateral Security Dialogue group and conducted joint naval exercises in the region in an effort to restrain Beijing. According to Williamson, the UK will have to be ready to show the high price of aggressive behavior and to strengthen its resilience.

Feb 12 08:08

India is getting deeper and deeper into Debt

Feb 12 07:51

FLASHBACK - Putin Declares Total Independence From Rothschild-Controlled US Dollar

Two years ago President Putin banned Jacob Rothschild and his New World Order banking cabal from operating in Russian territory “under any circumstances,” and now, following his recent election victory, Putin has vowed to continue “unburdening” Russia’s economy from the dangerous monopoly of the US dollar in order to ensure Russian sovereignty in an increasingly globalized world.

Addressing the Russian Parliament following his inauguration, Vladimir Putin said that declaring “total independence” from the global banking cartel and Rothschild international money lending organizations would be the “greatest gift” he could give to future generations.

“We used to behave naïvely, but now we see that the WTO [the World Trade organization] rules are all too often broken, the restrictions are imposed for political reasons, which they call sanctions. Plus more and more of them are imposed to secure its favorite competitive advantages,” Putin said.

Feb 12 07:48

WHY POOR COUNTRIES STAY POOR

Some of the richest countries in the world are filled with desperately poor people.

Having oil, copper, gold and other valuable resources does not translate into healthy economies.

Why not?

Simple: The wealth that is generated by these resources is stolen by a handful of local elites who cooperate with foreign looters.

Feb 12 03:57

How Far Along the Collapse Is the USA?

The Saker asks Dmitry Orlov

(*Really ?
A Russian is going to tell us ?
Let's get Eliot Abrhams to tell the world about the progress of Russia's crash .
Get A Clue Dmitry; Trump = Strong Economy !)

Feb 11 19:38

MX-18.1 Continuum Official Release (iso refresh)

This is a new distribution and it has become very popular.Using it now.
Based on Debian Linux (Stable)

We are pleased to offer MX-18.1 Official Releases iso for your use.

MX-18.1 is a refresh of our MX-18 release, consisting of bugfixes and application updates since our original release of MX-18.
Note: Existing users do not need to reinstall. All bugfixes and additions will come through the regular update.

channel.https://distrowatch.com/table.php?distribution=mx

Downloads
https://mxlinux.org

Feb 11 19:35

Trump Tweets In Persian Now? "Birthday Wishes" Sent To Iran's Leaders

On the 40th anniversary of Iran's 1979 Islamic revolution, President Trump attempted to reach out to Iranians in their own language by tweeting "the long-suffering Iranian people deserve a much brighter future." Notably this marks the first time in history a sitting US president issued a social media statement in Persian, or the Farsi language.

Though we don't expect the "birthday wishes" on the occasion of the Ayatollah's founding their Islamic Republic to be received too warmly inside Iran, as the message also appeared a veiled threat of regime change.

We wonder what poor low-level CIA or State Department analyst had to be pulled from their work and into the White House to compose the foreign language tweet for the president.

Webmaster's Commentary: 

Right now, after Mike Pompeo's speech last week, claiming that Hezbollah was also in Venezuela, and Iranian-linked, I just wanted to laugh out loud.

Unfortunately, what this may mean is, The Unhinged Ones in the Bowels of Power in DC , lusting to create their "own propaganda", so will actually conjure up some kind of alleged attack/false flag in Venezuela, claim that Iran/Hezbollah did this, and off we will go, into yet another set of military misadventures, again, fighting wars in two hemispheres, one in the Middle East.

President Trump, it gives me no pleasure to have to say this, but the way, and the obscene degree, to which U.S. foreign policy on Iran is driven by Tel Aviv's agenda, is officially horrible, and detrimental to the way other countries in the Middle East see the US Government and this absolutely must stop.

If the US government is going to stand on the right side of history on this issue, at the end of the day, the US government needs to give the Iranian people, a real choice in how they wish to govern themselves, and who they pick for ultimate leadership; and yes, we understand that Iran is a theocracy....but so is Israel.

40 years is a very short time in Iran's history, since the time of the Shaw was overthrown; if you, or I had the chance to speak with a younger Iranian person, still in college, and find out what their dreams and hopes are for their lives, as well as the lives for their families and friends, what I think would be that many of them are surprisingly contemporary, and want to see the political process open up, and become more liberal here.

But "regime change" in Iran to control its oil, with Russia most probably assisting Iran militarily if this does happen, can have absolutely catastrophic consequences which can never be reversed.

Feb 11 19:03

Russia's Exports Continue To Defy US Sanctions

Authored by Tom Luongo,

Russia is winning its war of attrition against aggressive U.S. sanctions policy. Diplomatically, Russia is winning on all fronts, finding positive solutions through its abundant energy reserves to open gaps in relationships hat have been frozen in geopolitical amber for two generations.

I’ve covered the surprising stability of the Russian ruble over the past six months given the volatility in oil prices in the past. That stability is key to the future of central Asia as well as eastern Europe.

Putin is positioning Russia and the ruble as the glue which ties central Asia’s development together through the Eurasian Economic Union. So, it and Russia’s economy defying the best efforts of the U.S. to impede its growth is something to keep watch on.

Feb 11 18:19

8 USC Ch. 12: IMMIGRATION AND NATIONALITY

CHAPTER 12—IMMIGRATION AND NATIONALITY
SUBCHAPTER I—GENERAL PROVISIONS
Sec.
1101.Definitions.
1102.Diplomatic and semidiplomatic immunities.
1103.Powers and duties of the Secretary, the Under Secretary, and the Attorney General.
1104.Powers and duties of Secretary of State.
1105.Liaison with internal security officers; data exchange.
1105a.Employment authorization for battered spouses of certain nonimmigrants.
1106.Repealed.
1107.Additional report.

SUBCHAPTER II—IMMIGRATION

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