en Italian Migration Crisis: The Big Picture <p><em><a href="">Via GEFIRA,</a></em></p> <p lang="en-US">Gianandrea Galiani interviewed by Daniel Moscardi</p> <p lang="en-US"><em>Gianandrea Gaiani is the director of the highly respected online magazine and an expert on immigration. He is a regular contributor to a number of Italian newspapers and appears frequently on numerous TV channels as an on immigration and security topics. He&rsquo;s also the author (together with Giancarlo Blangiardo and Giuseppe Valditara) of the recent book (in&nbsp;Italian)&nbsp;Immigrazione, tutto quello che dovremmo sapere (Immigration. All you need to know about&rdquo;).</em></p> <p lang="en-US"><strong>Gefira asked Gianandrea Gaiani in an exclusive interview about his views on the latest developments in the arrivals from Libya and Tunisia and the current approach of the Italian government. Outspoken and anything but politically correct, Gaiani hits the spot about the recent change of policy of the Italian government on the NGO&rsquo;s code of conduct as well as Italy&rsquo;s achievements and (so called) &ldquo;partners&rdquo; in Libya.</strong></p> <p lang="en-US">GE: What caused last summer&rsquo;s change of course by the Italian government and its approach toward the NGOs and the arrivals from Libya in general?</p> <p lang="en-US">GG: The answer is quite simple. The disaster for the PD (Partito Democratico), leader of the current government, at the June administrative elections, sounded an alarm, showing clearly that when it comes to immigration, many center-left voters steer clearly to the right. <strong>A swift change of course was badly needed, with the obvious intent of reassuring disenchanted and alarmed Italians that the government was in charge of the situation.</strong></p> <p lang="en-US">GE: The numbers show that the<strong> arrivals have diminished significantly</strong> but that&rsquo;s just that. We are still very far from the pre-2011 numbers.</p> <p lang="en-US">GG: That&rsquo;s because the government, on the other side, has to keep being complacent to the industry of immigration. <strong>It&rsquo;s a network that profits &ndash; and thrives &ndash; on new arrivals, and this network galaxy is NOT happy if the arrivals complete stop.</strong> And their votes are also badly needed by the current government.</p> <p lang="en-US">GE: A network made of?<span id="more-22020">&nbsp;</span></p> <p lang="en-US">GG: <strong>NGOs, Pro-migrants cooperatives, all the businesses catering to the migrants and last, but certainly not least, the ubiquitous Caritas and other Catholic Church&rsquo;s organisations. We are talking about a huge pie made of billions of euro, and everybody wants a piece.</strong></p> <p lang="en-US">GE: What is the current situation in Libya?</p> <p lang="en-US">GG: The coastal city of Sabratha was the theater of war between different militias for about two weeks in September. This has been hardly covered by mainstream media but we have reports that the two groups which are now in control of the city have received &ldquo;counseling&rdquo; from units of the French Army. The two militias are Ghorfat Amaliyet and the Wadi Brigade, and they are opposing the militia groups that were operating on behalf of Al-Sarraj, who had implemented a cooperation partnership with Italy. Italy was committed to financial help for villages and municipalities of the area under control of Al-Sarraj, but not military aid to armed groups of any kind.</p> <p lang="en-US">Reportedly, upon seizing full control of the city, the militias discovered approximately 7.000 migrants packed in various buildings throughout the city. It is unclear whether the militias now in control will let them leave Libya towards Italy or they will relocate them somewhere else. The problem is, in my opinion, when you have the French and the British in the middle of operations like these.</p> <p lang="en-US">GE: What do you mean by that?</p> <p lang="en-US">GG: What I mean is that the French and the British are officially our &ldquo;partners&rdquo; but in reality they are acting very much against Italy&rsquo;s interests in Libya. In fact, let me say, quite openly, that France and the UK are currently our worst enemies in Libya.</p> <p lang="en-US">GE: Why?</p> <p lang="en-US">GG:<strong> They simply will continue to operate, covertly or not so covertly, in order to make sure that Italy doesn&rsquo;t have a leading role in Libya. It&rsquo;s as simple as that. After all, the UK, France and the US knew all too well that the removal of Qaddafi in 2011 was a direct blow to Italy&rsquo;s numerous interests in Libya, given the strengthened that the Italian government had under Berlusconi.</strong></p> <p lang="en-US"><a href=""><img alt="" src="" style="width: 600px; height: 296px;" /></a></p> <p lang="en-US">GE: How coincidental, shall we add, the recent malicious articles by Le Monde and the Financial Times, showing all this &ldquo;humanitarian concern&rdquo; about the migrants&rsquo; conditions in Libya who are now &ldquo;held at bay&rdquo; by (supposedly) Italian-paid militias&hellip;</p> <p lang="en-US">GG: Let&rsquo;s be pragmatic. In a situation like Libya right now you either send troops, which I see it quite unlikely, or you simply negotiate with those in control, regardless of who they are. If those in control are not exactly paladins of human rights, so be it. That is what any sovereign country concerned about its borders should do. <strong>As soon as Italy tries to regain (some) control of the situation, critics full of over zealous &ndash; and quite hypocritical &ndash; concern about the migrants &ldquo;shameful conditions&rdquo; in Libya appear overnight, ready to point their fingers at Italy as the culprit.</strong></p> <p lang="en-US">GE: Can you tell us more about the recent agreement signed between Italy and Niger?</p> <p lang="en-US">GG: Niger &ndash; one of the poorest countries in the world &ndash; has asked Italy for logistic help in order to be more effective in patrolling its borders and eventually reduce the flow of sub-Saharans toward Libya. It is certainly a positive move but one that will hardly make a substantial difference overall.</p> <p lang="en-US">GE: Why?</p> <p lang="en-US">GG: Because the only effective move in order to really make a difference in order to significantly reduce the arrivals is to bring them back to the starting point. If they have to pay even more money to get back at sea towards Italy, with the risk of being deported again, they will start thinking: &ldquo;is this worth it&rdquo;?</p> <p lang="en-US">GE: How do you do that?</p> <p lang="en-US">GG: <strong>Given the absolute fact that practically 100% of those landing in Italy are illegal aliens as they are NOT running away from wars and political persecutions, the Geneva convention clearly states that NO country has the duty nor the obligation to welcome and give assistance to immigrants who pay criminal organizations to cross several borders. Now, it is a duty and an obligation to rescue human beings in a situation of distress at sea. </strong>That&rsquo;s maritime law and the Italian Navy alone is perfectly capable of fulfilling that task without any phony &ldquo;humanitarian&rdquo; help from these NGOs that are there to fulfil &ldquo;somebody else&rsquo;s&rdquo; agenda, certainly not on behalf of the Italian people.</p> <p lang="en-US">But, once rescued at sea, these people must be brought back to the departing country. Now, this can be implemented as easily and as safely as possible. If the conditions of the &ldquo;migrants&rdquo; in that country of departure are not optimal for human rights or for their comforts, in that case we have an effective tool to curb this trend. People will start going home, especially given the fact that most of them are anything but poor &ndash; for African standards &ndash; and that no one is threatening their lives at home.</p> <p lang="en-US">GE: The final question is &ndash; given the ongoing debate in Italy &ndash; about the Ius Soli law, that is the law that would grant immediate citizenship to many new immigrants.</p> <p lang="en-US">GG: <u><em><strong>That is going to be the final blow to our society as we know it today.</strong></em></u> Those who are in favour of this law are quite careful in not mentioning the alarming situation in western EU countries. They don&rsquo;t tell the general public that from France to Sweden, not to mention other countries, there are areas, so called no-go zones, that are practically off-limits to local law enforcement agencies, as the local Muslim communities have declared those areas under their control. We still don&rsquo;t have that in Italy. <strong>Everybody knows by now that the left in Italy is pushing hard for this law because they think that, once naturalized, an immigrant will vote for those parties that granted him or her the citizenship. But with these hopes they are naive, or stupid at the same time.</strong></p> <p lang="en-US">GE: Why do you say that?</p> <p lang="en-US">GG: <strong>Because as soon as they are citizens they will form an Islamic party, with all the related consequences.</strong> Now a foreign national suspected of ties or sympathies to terror groups can be deported from Italy, even if he or she are here legally. When they become Italian citizens where will they be deported to? The core of the problem lies in the massive brainwashing we have been subject to in western Europe about &ldquo;multicultural societies&rdquo;. Muslims are not interested the least in &ldquo;multiculturalism&rdquo;. They want their model, their values, in short their society to prevail and impose itself on the others. When the average Italian realizes this, it will be too late.</p> <p lang="en-US">GE: Any message of hope at the end of this interview?</p> <p lang="en-US">GG: <strong>I entertain hopes from Mitteleuropa&rsquo;s countries like Hungary, Slovakia, Czechia and now Austria. They are defending their societies, their citizens, their values from this induced brainwashing that has already overwhelmed us in Western Europe. In fact, at present they are the last defence of our civilisation. I just hope they &ndash; in fact all the Visegrad group countries &ndash; will resist the incredible pressure from external forces.</strong></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="1024" height="505" alt="" src="" /> </div> </div> </div> Africa Catholic Church Eastern Mediterranean European Union France French Army Geography of Africa Hungary Illegal immigration Illegal immigration to the United States Islamic party Italian government Italian navy Italy Libya Politics Reality Slovakia Social Issues SWIFT Wadi Brigade western Europe Tue, 24 Oct 2017 07:30:00 +0000 Tyler Durden 605865 at UK Banks Too Scared Of Regulator To Open Accounts For Crypto Companies <p><strong>Want to set up a company to trade cryptocurrencies in the City of London. Forget about it. </strong></p> <p><a href=""><img height="165" src="" width="273" /></a></p> <p>Lloyd Blankfein tweeted about spending more time in Frankfurt, now London is shunning the fastest growing sector in finance. <a href=";utm_medium=social&amp;;utm_campaign=buffer">From the FT</a></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>British banks are shunning companies that handle cryptocurrencies, forcing many to open accounts in Gibraltar, Poland and Bulgaria</strong> and prompting some to question the UK&rsquo;s ambitions to be a global hub for the fast-growing fintech sector.</p> <p>&nbsp;</p> <p>Investor interest in bitcoin and other cryptocurrencies has surged since their prices rocketed this year, but traditional banks are steering clear of the sector, fearing it is riddled with criminals and fraudsters. &lsquo;Nobody will give us a bank account in the UK,&rsquo; said James Godfrey, head of capital markets at BlockEx, a platform for trading digital assets including cryptocurrencies. He said Metro Bank recently shut its UK account, forcing it to rely on a Bulgarian lender to keep trading. Mr Godfrey said the disruption had prompted BlockEx to consider moving to a more welcoming location, such as Toronto.</p> <p>&nbsp;</p> <p><strong>&lsquo;Having [Bank of England governor] Mark Carney standing at the front of the shop and saying &lsquo;raa, raa, fintech&rsquo; just doesn&rsquo;t do it for me.&rsquo;</strong> Metro Bank declined to comment. Michael Hudson, chief executive of the bitcoin investment firm Bitstocks, said:</p> <p>&nbsp;</p> <p>&ldquo;It is almost an impossibility to get a UK bank account. We bank in Gibraltar and Poland &mdash; the two jurisdictions that are most stable. We had an account in Bulgaria but that didn&rsquo;t last long.</p> </blockquote> <p><strong>The fears on the part of banks relate to potential problems with the regulator as the report outlines.</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;The market value of all cryptocurrencies has soared from under $30bn six months ago to more than $160bn. However, banks are keeping their distance, worried by the fact that cryptocurrencies are commonly used by criminals to trade illicit goods on the &lsquo;dark web&rsquo;. A few countries, including Japan and Gibraltar, have created rules for cryptocurrencies, but they remain unregulated in many parts of the world, including much of Europe. &lsquo;When you look on the dark web, everything there is being paid for with cryptocurrencies,&rsquo; said one UK bank boss. &lsquo;You don&rsquo;t know who is transferring money in and out. If cryptocurrency goes to Iran and we&rsquo;re involved then I get shut down.&rdquo;</p> </blockquote> <p><strong>Banks are too scared of the regulator to open accounts for crypto trading businesses. </strong>Meanwhile, the regulator is unhappy with the banks for not opening accounts, according to the FT &ldquo;The Financial Conduct Authority is worried that banks&rsquo; reluctance to open accounts for some fintechs is hurting competition after it hampered several start-ups entering its sandbox to test their business models under its supervision. &lsquo;We are concerned that denying certain customers bank accounts on a wholesale basis causes significant barriers to entry and could lead to poor competition in certain markets,&rsquo; the regulator said.&rdquo;</p> <p><strong>The double-edged sword in today&rsquo;s world of excessive regulation. </strong></p> <p>Maybe the Financial Conduct Authority could adopt the common-sense approach, sit down with the banks and work something out. Nah, probably won&rsquo;t happen. In the meantime, don&rsquo;t mention <span style="text-decoration: line-through;">the war</span> crypto&hellip;</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;Iqbal Gandham, UK head of eToro, a social trading firm that has handled more than $1bn of cryptocurrency trades for clients since adding the asset class to its platform this year, said: &lsquo;The moment you mention crypto to a bank, it&rsquo;s like you are a drug dealer.&rsquo; </strong></p> </blockquote> <p>Changing bank accounts and relying on foreign lenders is disruptive and undermines the confidence of clients, said Mr Hudson at Bitstocks.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&lsquo;It makes life very difficult, just simple things like paying staff,&rsquo;</strong> he said. One British banker said opening an account in Gibraltar or Poland would cost start-up firms &lsquo;an arm and a leg&rsquo;.</p> </blockquote> <p>UK Finance, which represents British banks, said:<strong> &lsquo;No regulatory regime is yet in place for virtual currencies. Firms&rsquo; own risk appetites will determine to what extent they engage with any firms engaged in virtual currencies. </strong></p> <p>The European Banking Authority is yet to update guidance it published more than three years ago, <strong>advising national regulators to &lsquo;discourage credit institutions, payment institutions and e-money institutions from buying, holding or selling virtual currencies&rsquo;.</strong> Obi Nwosu, chief executive of bitcoin exchange Coinfloor, said: &lsquo;There are British banks interested in doing this, but they don&rsquo;t want to rush into it.&rsquo; His company, which says it handles a majority of UK cryptocurrency trading, is in &lsquo;constant conversation&rsquo; with British banks about opening an account. Barclays is one of the few British lenders to have a handful of clients in the cryptocurrency sector. HSBC is talking to a few potential clients in the sector despite its 2011 ban on doing business with the money services sector because of anti-money laundering concerns.</p> <p><strong>HSBC said it was &lsquo;monitoring the development of virtual and digital currencies such as bitcoin as well as regulations governing their use&rsquo;, adding that it has &lsquo;very limited appetite to bank issuers or dealers in virtual currencies.</strong></p> <p>By the time it does, the proverbial horse will have bolted.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="273" height="165" alt="" src="" /> </div> </div> </div> Alternative currencies Bank of England Bank of England Barclays Bitcoin Bitcoin Bulgaria Business Capital Markets Cryptocurrencies Cryptography Decentralization European Banking Authority Finance Financial Conduct Authority Financial technology Iran Japan Lloyd Blankfein Money Poland Tue, 24 Oct 2017 06:45:00 +0000 Tyler Durden 605863 at Germany’s Delegation To Russia Signals That Merkel Is Looking For New Allies <p><em>By George Friedman of <a href="">Mauldin Economics</a></em></p> <p>A delegation of executives from major German corporations recently met with Russian President Vladimir Putin.</p> <p>Such delegations are not unusual. Sometimes it is routine, sometimes a courtesy. But occasionally, it has significance. In the case of Russia-Germany relations, such meetings are always potentially significant.</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 250px;" /></a></p> <p><strong>Germany&rsquo;s Unsteady Relations</strong></p> <p>Two relationships are critical to Germany.</p> <p>One is with the European Union, the other is with the United States. Neither relationship is stable right now. Brexit, the Spanish crisis, Germany feuding with Poland and the unsolved economic problems of southern Europe are tearing the European Union apart.</p> <p>The Germans and the EU apparatus claim that none of these threaten the bloc. In fact, almost a decade after 2008, Europe appears to be achieving very modest economic growth. But the Germans know the dangers that lie ahead, even if Brussels does not.</p> <p>Many of the EU&rsquo;s problems are political, not economic. (I wrote about the inherent weakness of Europe in my free e-book, <em>The World Explained in Maps</em>, which you can <a href="" target="_blank">find here</a>)</p> <p>Poland and Germany have butted heads over the tension between the right to national self-determination and EU rules. This is also what Brexit was about.</p> <p>Spain is locked in a dispute over the nature of a nation and the right of a region to secede, while the EU considers what role it should play in the domestic matters of a member state. And although southern Europe&rsquo;s problems are economic, the fact that Europe has eked out minimal growth means neither that such growth is sustainable nor that the growth rate comes close to solving the Continent&rsquo;s deep structural problems.</p> <p>As the de facto leader of the EU, Germany has to appear confident while considering the implications of failure.</p> <p>The German relationship with the United States is unsettled&mdash;and not just because of President Donald Trump&rsquo;s personality.</p> <p>The strategic and economic situation in Europe has changed dramatically since the early 1990s&mdash;when the Soviet Union fell, Germany reunified and the all-important Maastricht treaty was signed&mdash;but Germany&rsquo;s structural relationship with the US has not.</p> <p>Both are members of NATO, but they have radically different views of its mission and its economics. Germany has the world&rsquo;s fourth-largest economy, but its financial contribution to NATO doesn&rsquo;t reflect that.</p> <p>Then there is Russia. The American policy toward Russia has hardened since the Democratic Party adopted an intense anti-Russia stance following the presidential election&mdash;more intense even than that of the Republican Party, which has always been uneasy with Russia.</p> <p>The Ukraine crisis continues to fester while US troops are deployed in the Baltics, Poland, and Romania. This has widened rifts within the EU. Germany isn&rsquo;t interested in a second Cold War; Eastern Europe believes it&rsquo;s already in one.</p> <p>The Eastern Europeans are increasingly alienated from the Germans on the issue and more closely aligned with the Americans. At a time when German relations with key Eastern European countries are being tested, the added strain of US policy in the region is a threat to German interests.</p> <p>Germany wants the Russia problem to subside. The US and its Eastern European allies think the way to accomplish that is through confrontation.</p> <p><strong>An Alternative That Germany Doesn&rsquo;t Want</strong></p> <p>Germany&rsquo;s foreign policy has remained roughly the same since 1991, even as the international reality has changed dramatically. This is forcing Germany toward a decision it doesn&rsquo;t want to make.</p> <p>It must consider what happens if the EU continues to disintegrate and if European countries&rsquo; foreign policies and politics continue to diverge.</p> <p>It must consider what happens if the US continues to shape the dynamics of Europe in a way that Germany will have to confront American enemies, or refuse to do so. This isn&rsquo;t just about Russia&mdash;we can see the same issue over Iran.</p> <p>Germany can&rsquo;t exist without stable economic partners. It has never been self-sufficient <a href="" target="_blank">since it reunified</a>. It must explore alternatives.</p> <p>The most obvious alternative for Germany has always been Russia, either through alliance or conquest.</p> <p>Germany needs Russian raw materials. It also needs the Russian market to be far more robust than it is so that it can buy more German goods.</p> <p>But Russia is incapable of rapid economic development without outside help, and with the collapse of oil prices, it needs rapid development to stabilize its economy. Germany needs Russia&rsquo;s economy to succeed, and what it has to offer Russia is capital, technology, and management.</p> <p>In exchange, Russia can offer raw materials and a workforce.</p> <p>An alignment with Russia could settle Eastern Europe in Germany&rsquo;s orbit. With the way things are going, and given Germany&rsquo;s alternatives, the Russian option is expensive but potentially very profitable.</p> <p>But Germany has a problem with Russia. Every previous attempt at alignment or conquest has failed. Building up the Russian economy to create a robust market for German goods would certainly benefit both countries, but it would also shift the balance of power in Europe.</p> <p>Right now, Germany is militarily weak and economically strong. Russia is moderately powerful militarily and economically weak. An alignment with Germany could dramatically strengthen Russia&rsquo;s economy, and with it, its military power.</p> <p>Having moved away from the United States and de-emphasized military power in the rest of the European peninsula, Germany could find itself in its old position: vulnerable to Russian power, but without allies against Russia.</p> <p><strong>On a Lookout for New Allies</strong></p> <p>The corporate chiefs&rsquo; trip to Russia is not a groundbreaking event, nor does it mark a serious shift in German policy. But it is part of an ongoing process. As the international reality shifts from what Germany needs, Germany must find another path.</p> <p>In the short term, the United States is vulnerable to a cyclical recession, and hostility toward Germany is increasing in Europe&mdash;particularly in Eastern Europe. China is facing internal challenges of its own. There are few other options than Russia, and Russia is historically a most dangerous option for Germany.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="1190" height="595" alt="" src="" /> </div> </div> </div> Baltics Brexit China Democratic Party Donald Trump Eastern Europe Eastern Europe Europe European balance of power European Union European Union G20 nations G8 nations Germany Germany Germany–Russia relations Iran Member states of the Council of Europe Member states of the United Nations None North Atlantic Treaty Organization Poland Politics Reality Recession Republican Party Romania Russia Southern Europe Ukraine Vladimir Putin Vladimir Putin World Tue, 24 Oct 2017 06:00:32 +0000 Tyler Durden 605867 at Introducing Cryonics: Putting Death On Ice <p><strong>There is a potent thread winding its way through generations of human culture. </strong>From Ancient Egyptian rituals to Kurzweil&rsquo;s&nbsp;<a href="" rel="noopener" target="_blank">Singularity</a>, many paths have sprung up leading to the same elusive destination: <strong>immortality</strong>.</p> <p>Today, <a href="">as Visual Capitalist&#39;s Nick Routely notes,</a> the concept is as popular as it&rsquo;s ever been, and<strong> technological advances are giving people hope that immortality, or at very least radical life extension, may be within reach.</strong> Is modern technology advanced enough to give people a second chance through cryonics?</p> <p>Today&rsquo;s infographic, courtesy of&nbsp;<a href="" rel="noopener" target="_blank">Futurism</a>, tackles our<strong> growing fascination with putting death on ice.</strong></p> <div><a href=""><img src="" style="border-width: 0px; border-style: solid; height: 2576px; width: 600px;" /></a></div> <p><em>Courtesy of: <a href="">Visual Capitalist</a></em></p> <h3><u>THE PROSPECT OF IMMORTALITY</u></h3> <p>Robert C. W. Ettinger&rsquo;s seminal work,&nbsp;<a href="" rel="noopener" target="_blank">The Prospect Of Immortality</a>, detailed many of the scientific, moral, and economic implications of cryogenically freezing humans for later reanimation. It was after that book was published in 1962 that the idea of freezing one&rsquo;s body after death began to take hold.</p> <p>One of the most pressing questions is, even if we&rsquo;re able to revive a person who has been cryogenically preserved, will the person&rsquo;s memories and personality remain intact? Ettinger posits that long-term memory is stored in the brain as a long-lasting structural modification. Basically, those memories will remain, even if the brain&rsquo;s &ldquo;power is turned off&rdquo;.</p> <p><a href=""><img alt="" src="" style="width: 600px; height: 307px;" /></a></p> <h3><u>DESCENDING INTO THE DEEP-FREEZE</u></h3> <p>There are three main steps in the cryogenic process:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>1) Immediately after a patient dies, the body is cooled with ice packs and transported to the freezing location.</p> <p>&nbsp;</p> <p>2) Next, blood is drained from the patient&rsquo;s body and replaced with a&nbsp;<a href="" rel="noopener" target="_blank">cryoprotectant</a>&nbsp;(basically the same antifreeze solution used to transport organs destined for transplant).</p> <p>&nbsp;</p> <p>3) Finally, once the body arrives at the cryonic preservation facility, the body is cooled to -196&ordm;C (-320.8&ordm;F) over the course of two weeks. Bodies are generally stored upside-down in a tank of liquid nitrogen.</p> </blockquote> <h3>THE ECONOMICS OF CRYOPRESERVATION</h3> <p>At prices ranging from about $30,000 to $200,000, cryopreservation may sound like an option reserved for the wealthy, but many people fund the procedure by naming a cryonics company as the primary benefactor of their life insurance policy. Meanwhile, in the event of a death that doesn&rsquo;t allow for preservation of the body, the money goes to secondary beneficiaries.</p> <p><strong>Even if we do eventually find a way to reanimate frozen humans, another important consideration is how those people would take care of themselves financially. </strong>That&rsquo;s where a cryonics or&nbsp;personal revival&nbsp;trust comes into play. A twist on a traditional dynastic trust, this arrangement ensures that there are funds to cover costs of the cryopreservation, as well as ensure the grantor would have assets when they&rsquo;re unthawed. Of course, there are risks involved beyond the slim possibility of reanimation. The legal code in hundreds of years could be vastly different than today.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>If you created a trust for specific purposes in 1711, it is unlikely it would function in the same way today.</p> <p>&nbsp;</p> <p>&ndash; Kris Knaplund, Law Professor, Pepperdine University</p> </blockquote> <h3><u>COLD HUMANS, HOT MARKET</u></h3> <p><strong>At last count, there are already 346 people in the deep freeze, with thousands more on the waiting list. As technology improves, those numbers are sure to continue rising.</strong></p> <p>Time will tell whether cryonically preserved people are able to cheat death. In the meantime? The cryonics industry is alive and well.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="796" height="407" alt="" src="" /> </div> </div> </div> Ageing Cryobiology Cryonics Cryopreservation Cryoprotectant Demography Emerging technologies Future Immortality Life extension Pepperdine University Population Robert Ettinger Tue, 24 Oct 2017 05:00:00 +0000 Tyler Durden 605781 at How Much Is Equity Research Actually Worth? Probably Less Than You Thought <p>Over the past several months, investment banks all across Europe have scrambled to put a price tag on their equity research after years of giving it way as a 'freebie' in return for trading commissions. </p> <p>Of course, for wall street's titans of finance, you know, the same guys who will look you straight in the eyes and tell you that they know with relative certainty the precise value of the synthetic CDO squared they're selling you, we figured this would be a relatively simplistic task. Therefore, you can imagine our surprise now that the market has established a fairly wide bid-ask spread with <a href="">JP Morgan on the low end at $10,000</a> and <a href="">Barclays on the rich side at $455,000</a>.</p> <p>Luckily, since wall street's finest don't seem to have a clue, <a href="">Bloomberg Gladfly</a> has decided to take a look at some comps to help shed some light on the true value of equity research.</p> <p>First, of course, it's important to define what institutional clients are actually buying when they sign a research contract.&nbsp; As Bloomberg points out with the chart below, and contrary to popular belief, equity research demand actually has very little to do with analyst forecasts and trade ideas but rather is dependent upon which banks provide the greatest access to those highly coveted management 1x1s.</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p><strong>The dirty little secret on Wall Street -- and why it's so difficult to price research -- is that star analysts aren't really valued for their research at all.</strong> Ask any money manager, hedge fund or research shop, and they'll tell you it's all about the contacts.</p> <p>&nbsp;</p> <p><strong>Many senior analysts spend only 10 percent of their time conducting research and writing reports. </strong>Teams of junior associates (or sometimes robots) maintain financial models and blast out notes. Some use pre-recorded voice mails to alert clients to new research.</p> <p>&nbsp;</p> <p><strong>Gadfly estimates that between 50 and 70 percent of a senior analyst's time is spent on corporate access.</strong> Things like arranging lunch with a CFO or connecting a client with a lawyer, supplier or other industry expert to delve into what the data doesn't. For this reason, analysts are often required to log the number of phone calls, meetings and events arranged each month.</p> <p>&nbsp;</p> <p>The final 20 percent of an analyst's time is spent on pre-IPO research, conferences and bespoke projects, such as flying a drone over a retailer's parking lot to track how full it is; scoping the laundry outside apartment blocks; or conducting so-called channel checks to see how much oil's being pumped through a particular pipeline.</p> </blockquote> <p><a href=" - BBG 1.JPG"><img src="" style="width: 600px; height: 217px;" /></a></p> <p>So, what does that mean for the 'value' of equity research?&nbsp; Well, Bloomberg figures those actual <strong>'research' reports that flood your inbox all day long are worth basically nothing</strong> while the corporate access component of 'research' (i.e. those annual trips to Miami Beach where 24-year-old hedge fund analysts get to interview CEO's between binge drinking sessions at Story) should be valued at roughly the same price as an expert network service.</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p><strong>Access to independent research network Smartkarma starts at $7,500 a year per user </strong>for a Spotify-like subscription that opens the door to reports from more than 400 analysts. Customers can also buy additional packages of analysts' time, similar to the way lawyers or consultants get paid.</p> <p>&nbsp;</p> <p>We reckon the closest approximation to corporate access is so-called expert networks, companies that maintain a stable of industry experts to match with fund managers and other financiers when they need quick access to esoteric information.</p> <p>&nbsp;</p> <p><strong>Industry leader Gerson Lehrman Group Inc. charges $100,000 a year, with the heaviest users paying millions of dollars, according to the Financial Times.</strong></p> <p>&nbsp;</p> <p>As for bespoke research projects, Morgan Stanley said it plans to charge $2,500 an hour for private meetings with its stock analysts, almost twice the rate of some of the best corporate lawyers. Partners at big management consulting firms such as Deloitte LLP or McKinsey &amp; Co. charge clients anywhere from $800 to $1,300 an hour, according to career consulting guide Rocketblocks.</p> </blockquote> <p><a href=" - BBG 2.JPG"><img src="" style="width: 600px; height: 235px;" /></a></p> <p>Then again, maybe those hedge fund managers could just ask young Trevor Worthington IV to stay home from Miami Beach and read a 10-K for free...just a thought.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="559" height="321" alt="" src="" /> </div> </div> </div> Barclays Barclays Bloomberg L.P. Business CDO Economy Expert network Expert Networks Finance Financial analyst Financial services Funds Gerson Lehrman Group Hedge fund Investment banking Market research McKinsey Money Morgan Stanley Mortgage-backed security Securities research Structured finance Synthetic CDO Wall Street Tue, 24 Oct 2017 04:30:00 +0000 Tyler Durden 605859 at Clinton, Assange, And The War On Truth <p><a href=""><em>Authored by John Pilger via,</em></a></p> <p>On 16 October, the Australian Broadcasting Corporation aired an interview with Hillary Clinton: <strong><em>one of many to promote her score-settling book about why she was not elected President of the United States.</em></strong></p> <p>Wading through the Clinton book,&nbsp;<em>What Happened,&nbsp;</em>is an unpleasant experience, like a stomach upset. Smears and tears. Threats and enemies. &ldquo;They&rdquo; (voters) were brainwashed and herded against her by the odious Donald Trump in cahoots with sinister Slavs sent from the great darkness known as Russia, assisted by an Australian &ldquo;nihilist&rdquo;, Julian Assange.</p> <p>In<em>&nbsp;The</em>&nbsp;<em>New York Times,&nbsp;</em>there was a striking photograph of a female reporter consoling Clinton, having just interviewed her. The lost leader was, above all, &ldquo;absolutely a feminist&rdquo;. The thousands of women&rsquo;s lives this &ldquo;feminist&rdquo; destroyed while in government - Libya, Syria, Honduras - were of no interest.</p> <p>In<em>&nbsp;New York</em>&nbsp;magazine, Rebecca Traister wrote that Clinton was finally &ldquo;expressing some righteous anger&rdquo;. It was even hard for her to smile: &ldquo;so hard that the muscles in her face ache&rdquo;. Surely, she concluded, &ldquo;if we allowed women&rsquo;s resentments the same bearing we allow men&rsquo;s grudges, America would be forced to reckon with the fact that all these angry women might just have a point&rdquo;.</p> <p><strong>Drivel such as this, trivialising women&rsquo;s struggles, marks the media hagiographies of Hillary Clinton.</strong> Her political extremism and warmongering are of no consequence. Her problem, wrote Traister, was a &ldquo;damaging infatuation with the email story&rdquo;. The truth, in other words.</p> <p>The leaked emails of Clinton&rsquo;s campaign manager, John Podesta, revealed a direct connection between Clinton and the foundation and funding of organised jihadism in the Middle East and Islamic State (IS). The ultimate source of most Islamic terrorism, Saudi Arabia, was central to her career.</p> <p>One email, in 2014, sent by Clinton to Podesta soon after she stepped down as US Secretary of State, discloses that Islamic State is funded by the governments of Saudi Arabia and Qatar. Clinton accepted huge donations from both governments for the Clinton Foundation.</p> <p><strong>As Secretary of State, she approved the world&rsquo;s biggest ever arms sale to her benefactors in Saudi Arabia, worth more than $80 billion.</strong> Thanks to her, US arms sales to the world &ndash; for use in stricken countries like Yemen &ndash; doubled.</p> <p>This was revealed by WikiLeaks and published by&nbsp;<em>The</em>&nbsp;<em>New York Times.&nbsp;</em>No one doubts the emails are authentic. The subsequent campaign to smear WikiLeaks and its editor-in-chief, Julian Assange, as &ldquo;agents of Russia&rdquo;, has grown into a spectacular fantasy known as &ldquo;Russiagate&rdquo;. The &ldquo;plot&rdquo; is said to have been signed off by Vladimir Putin himself. &nbsp;There is not a shred of evidence.</p> <p><strong>The ABC Australia interview with Clinton is an outstanding example of smear and censorship by omission. I would say it is a model.</strong></p> <p>&ldquo;No one,&rdquo; the interviewer, Sarah Ferguson, says to Clinton, &ldquo;could fail to be moved by the pain on your face at that moment [of the inauguration of Trump] &hellip; Do you remember how visceral it was for you?&rdquo;</p> <p>Having established Clinton&rsquo;s visceral suffering, Ferguson asks about &ldquo;Russia&rsquo;s role&rdquo;.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>CLINTON: I think Russia affected the perceptions and views of millions of voters, we now know. I think that their intention coming from the very top with Putin was to hurt me and to help Trump.</p> <p>&nbsp;</p> <p>FERGUSON: How much of that was a personal vendetta by Vladimir Putin against you?</p> <p>&nbsp;</p> <p>CLINTON: &hellip;<strong> I mean he wants to destabilise democracy. He wants to undermine America, he wants to go after the Atlantic Alliance and we consider Australia kind of a &hellip; an extension of that &hellip;</strong></p> </blockquote> <p><u><strong>The opposite is true.</strong></u> It is Western armies that are massing on Russia&rsquo;s border for the first time since the Russian Revolution 100 years ago.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>FERGUSON: How much damage did [Julian Assange] do personally to you?</p> <p>&nbsp;</p> <p>CLINTON: Well, I had a lot of history with him because I was Secretary of State when ah WikiLeaks published a lot of very sensitive ah information from our State Department and our Defence Department.</p> </blockquote> <p><strong>What Clinton fails to say &ndash; and her interviewer fails to remind her &mdash; is that in 2010, WikiLeaks revealed that Secretary of State Hillary Clinton had ordered a&nbsp;secret intelligence campaign targeted at the United Nations leadership, including the Secretary General, Ban Ki-moon and the permanent Security Council representatives from China, Russia, France and the UK.</strong></p> <p>A classified directive, signed by Clinton, was issued to US diplomats in July 2009, demanding forensic technical details about the communications systems used by top UN officials, including passwords and personal encryption keys used in private and commercial networks.</p> <p><strong>This was known as Cablegate. It was lawless spying.</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>CLINTON:&nbsp; <strong>He [Assange] is very clearly a tool of Russian intelligence. And ah, he has done their bidding.</strong></p> </blockquote> <p>Clinton offered no evidence to back up this serious accusation, nor did Ferguson challenge her.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>CLINTON: You don&rsquo;t see damaging negative information coming out about the Kremlin on WikiLeaks. You didn&rsquo;t see any of that published.</p> </blockquote> <p><strong>This was false. WikiLeaks has published a massive number of documents on Russia &ndash; more than 800,000, most of them critical, many of them used in books and as evidence in court cases.</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>CLINTON: &nbsp;So I think Assange has become a kind of nihilistic opportunist who does the bidding of a dictator.</p> <p>&nbsp;</p> <p>FERGUSON:&nbsp; Lots of people, including in Australia, think that Assange is a martyr for free speech and freedom of information. How would you describe him? Well, you&rsquo;ve just described him as a nihilist</p> <p>&nbsp;</p> <p>CLINTON: &nbsp;Yeah, well, and a tool. I mean he&rsquo;s a tool of Russian intelligence. And if he&rsquo;s such a, you know, martyr of free speech, why doesn&rsquo;t WikiLeaks ever publish anything coming out of Russia?</p> </blockquote> <p>Again, Ferguson said nothing to challenge this or correct her.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>CLINTON: There was a concerted operation between WikiLeaks and Russia and most likely people in the United States to weaponise that information, to make up stories &hellip; to help Trump.</p> <p>&nbsp;</p> <p>FERGUSON: Now, along with some of those outlandish stories, there was information that was revealed about the Clinton Foundation that at least in some of the voters&rsquo; minds seemed to associate you &hellip;.</p> <p>&nbsp;</p> <p>CLINTON: <strong>Yeah, but it was false!</strong></p> <p>&nbsp;</p> <p>FERGUSON: &hellip; with the peddling of information &hellip;</p> <p>&nbsp;</p> <p>CLINTON: <u><strong>It was false! It was totally false! &nbsp;&hellip;..</strong></u></p> <p>&nbsp;</p> <p>FERGUSON: <strong>Do you understand how difficult it was for some voters to understand the amounts of money that the [Clinton] Foundation is raising, the confusion with the consultancy that was also raising money, getting gifts and travel and so on for Bill Clinton that even Chelsea had some issues with? &hellip;</strong></p> <p>&nbsp;</p> <p>CLINTON: <strong>Well you know, I&rsquo;m sorry, Sarah, I mean I, I know the facts &hellip;.</strong></p> </blockquote> <p>The ABC interviewer lauded Clinton as &ldquo;the icon of your generation&rdquo;. She asked her nothing about the enormous sums she creamed off from Wall Street, such as the $675,000 she received for speaking at Goldman Sachs, one of the banks at the centre of the 2008 crash. Clinton&rsquo;s greed deeply upset the kind of voters she abused as &ldquo;deplorables&rdquo;.</p> <p><strong>Clearly looking for a cheap headline in the Australian press, Ferguson asked her if Trump was &ldquo;a clear and present danger to Australia&rdquo; and got her predictable response.</strong></p> <p>This high-profile journalist made no mention of Clinton&rsquo;s own &ldquo;clear and present danger&rdquo; to the people of Iran whom she once threatened to &ldquo;obliterate totally&rdquo;, and the 40,000 Libyans who died in the attack on Libya in 2011 that Clinton orchestrated. Flushed with excitement, the Secretary of State rejoiced at the gruesome murder of the Libyan leader, Colonel Gaddafi.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><em><strong>&ldquo;Libya was Hillary Clinton&rsquo;s war&rdquo;,</strong></em> Julian Assange said in a filmed interview with me last year. &ldquo;Barack Obama initially opposed it. Who was the person championing it? &nbsp;Hillary Clinton. &nbsp;That&rsquo;s documented throughout her emails &hellip; there&rsquo;s more than 1700 emails out of the 33,000 Hillary Clinton emails that we&rsquo;ve published, just about Libya. It&rsquo;s not that Libya has cheap oil. She perceived the removal of Gaddafi and the overthrow of the Libyan state &mdash; something that she would use in her run-up to the general election for President.</p> <p>&nbsp;</p> <p><strong>&ldquo;So in late 2011 there is an internal document called the Libya&nbsp;<em>Tick Tock</em>&nbsp;&nbsp;that was produced for Hillary Clinton, and it&rsquo;s the chronological description of how she was the central figure in the destruction of the Libyan state, which resulted in around 40,000 deaths within Libya; jihadists moved in, ISIS moved in, leading to the European refugee and migrant crisis.</strong></p> <p>&nbsp;</p> <p>&ldquo;Not only did you have people fleeing Libya, people fleeing Syria, the destabilisation of other African countries as a result of arms flows, but the Libyan state itself was no longer able to control the movement of people through it.&rdquo;</p> </blockquote> <p>This &ndash; not Clinton&rsquo;s &ldquo;visceral&rdquo; pain in losing to Trump nor the rest of the self-serving scuttlebutt in her ABC interview&nbsp; - was the story.<strong> Clinton shared responsibility for massively de-stabilising the Middle East, which led to the death, suffering and flight of thousands of women, men and children.</strong></p> <p>Ferguson raised not a word of it. <strong>&nbsp;Clinton repeatedly defamed Assange, who was neither defended nor offered a right of reply on his own country&rsquo;s state broadcaster.</strong></p> <p>In a tweet from London,&nbsp;Assange cited the ABC&rsquo;s own Code of Practice, which states: &ldquo;Where allegations are made about a person or organisation, make reasonable efforts in the circumstances to provide a fair opportunity to respond.&rdquo;</p> <p><strong>Following the ABC broadcast, Ferguson&rsquo;s &nbsp;executive producer, Sally Neighbour, re-tweeted the following: &ldquo;Assange is Putin&rsquo;s bitch. We all know it!&rdquo;</strong></p> <p>The slander, since deleted, was even used as a link to the ABC interview captioned &lsquo;Assange is Putins (sic) b****. We all know it!&rsquo;</p> <p>In the years I have known Julian Assange, I have watched a vituperative personal campaign try to stop him and WikiLeaks. It has been a <strong>frontal assault on whistleblowing, on free speech and free journalism, all of which are now under sustained attack from governments and corporate internet controllers.</strong></p> <p>The first serious attacks on Assange came from the&nbsp;<em>Guardian</em>&nbsp;which, like a spurned lover, turned on its besieged former source, having hugely profited from WikiLeaks&rsquo; disclosures. With not a penny going to Assange or WikiLeaks, a&nbsp;<em>Guardian</em>&nbsp;book led to a lucrative Hollywood movie deal. Assange was portrayed as &ldquo;callous&rdquo; and a &ldquo;damaged personality&rdquo;.</p> <p>It was as if a rampant jealousy could not accept that his remarkable achievements stood in marked contrast to that of his detractors in the &ldquo;mainstream&rdquo; media. It is like watching the guardians of the status quo, regardless of age, struggling to silence real dissent and prevent the emergence of the new and hopeful.</p> <p><strong><em><u>Today, Assange remains a political refugee from the war-making dark state of which Donald Trump is a caricature and Hillary Clinton the embodiment. His resilience and courage are astonishing. Unlike him, his tormentors are cowards.</u></em></strong></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="613" height="315" alt="" src="" /> </div> </div> </div> Atlantic Alliance Australia B+ Barack Obama China Clinton Foundation Cryptography Department of State Donald Trump encryption Espionage Fail France goldman sachs Goldman Sachs Government Hillary Clinton Hillary Clinton presidential campaign Iran John Podesta Julian Assange Middle East Middle East National security New York Times Political campaign staff Politics Politics Russian intelligence Russian interference in the 2016 United States elections Saudi Arabia Security Council United Nations Vladimir Putin WikiLeaks Tue, 24 Oct 2017 03:55:00 +0000 Tyler Durden 605862 at The "Safest Home In America" Is Back On The Market <p>A simmering nuclear crisis, series of devastating natural disasters and a resurgence of drug-fueled crime are inspiring more Americans than ever before to buy up &ldquo;doomsday prepper&rdquo; gear &ndash; everything from gas masks to fallout shelters &ndash; a trend that we&rsquo;ve observed time and time again.</p> <p>While most Americans will need to settle for a small backyard bunker stocked with canned goods and water filters because of cost constraints, anybody looking for something slightly more stylish need look no further: A home in the Atlanta suburbs that has been described by architects as &ldquo;the safest home in America&rdquo; just hit the market &ndash; <em><strong>and it can be yours for the bargain price of $15 million.</strong></em></p> <p><a href=""><img alt="" src="" style="width: 500px; height: 267px;" /></a></p> <p>The home, known as Rice House, is located inside a gated community in Alpharetta, Georgia, about 30 minutes northeast of central Atlanta.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>The cream-colored, colonnaded facade of the Rice House, situated on 3.5 acres just outside Atlanta, hides far more than a private theater, bowling alley, and infinity swimming pool.</p> <p>&nbsp;</p> <p>The master and guest bedrooms have ballistic doors that can withstand fire from an AK-47 assault rifle. <strong>The car vault is large enough to hold 30 vehicles and has an entrance designed to be concealed by a waterfall. Secret doors lead to a 15,000-square-foot bunker&nbsp; in which an embattled owner could conceivably hole up for years, with off-grid power and water drawn from three artesian wells drilled 1,000 feet into the ground. The house had its own security architect who spent two decades designing secure buildings for the DOJ.</strong></p> <p>&nbsp;</p> <p><strong>Listing materials boast that it is &ldquo;one of, if not the, safest home in America.&rdquo;</strong></p> <p>&nbsp;</p> <p><strong>&ldquo;This is a home where you could put a $20 million painting on the wall and sleep comfortably at night,&rdquo;</strong> said listing broker Paul Wegener, of Atlanta Fine Homes Sotheby&rsquo;s International Realty. <em><strong>&ldquo;The same goes for your family.&rdquo;</strong></em></p> </blockquote> <p><strong>The</strong> <strong>unnamed entrepreneur who owns Rice House spent six years and some $30 million to build the 36,000-square-foot fortress &ndash; a project that Bloomberg claims was &ldquo;mostly for kicks.&rdquo;</strong></p> <p><strong>&ldquo;He said to me, &lsquo;If anyone wants to get me, they can find me at Chick-fil-A,&rsquo;&rdquo; </strong>the real-estate agent tasked with selling the home said. <strong>&ldquo;It was something of an intellectual exercise to create an impenetrable home, a personal Batcave that the owner could peel his Bugatti Veyron out of.&rdquo;</strong></p> <p>The home was just relisted for $14.7 million, a drop from the original $17.5 million. The estate also needs to be finished, a project that cost an additional $3 million to $5 million. The owner planned the Rice House as a family legacy, but decided to sell when he learned his son didn&rsquo;t want to live there. The main house has been completely built, with eight bedrooms, 14 bathrooms, three kitchens, a private museum, a wine cellar, an indoor shooting range, and commercial-grade elevators.</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 324px;" /></a></p> <p>&ldquo;The mandate was the best of everything,&rdquo; Wegener said. To construct the foundation, workers dug down to bedrock and then bored down into it. The walls are made from extra-strength concrete reinforced with rebar. The car vault originally was designed with 18 columns, but the owner pushed back until engineers figured out a way to use custom-made bridge beams, so no pillars would be needed to support the ceiling. The Rice House is highly energy-efficient, with geothermal heating and cooling and a solar energy system.</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 395px;" /></a></p> <p>Though it&rsquo;s not included in the listing&mdash;to maintain that hush-hush feel&mdash;the Rice House is in Country Club of the South, a location popular among athletes and other famous individuals. Retired Atlanta Braves pitcher Tom Glavine, Usher, Whitney Houston, and NBA Hall of Famer Allen Iverson have all lived there. <strong>The neighborhood has 19 tennis courts, an 18-hole, golf course designed by Jack Nicklaus, basketball courts, a concert venue&mdash;and, of course, 24-hour security.</strong></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="802" height="428" alt="" src="" /> </div> </div> </div> Atlanta Atlanta Braves Baseball Batcave Boyd Rice CAPTCHA Comics Country Club of the South DOJ Georgia Geothermal Gotham City Hush National Basketball Association Rice Tom Glavine Tue, 24 Oct 2017 03:30:00 +0000 Tyler Durden 605835 at Gundlach Warns "The Order of The Financial System Is About To Be Turned Upside Down" <p><em><strong>&quot;I&#39;m not a big fan of bonds right now,&quot; </strong></em>may seem like an odd way for the so-called Bond King to begin, but in an audience at<a href=""> Vanity Fair&#39;s Establishment Summit, </a>DoubleLine&#39;s Jeff Gundlach told Bethany McLean, <em><strong>&quot;I haven&rsquo;t been really [a fan of bonds] for the past four years, even though I manage them, and institutions have to own them for various reasons.&quot;</strong></em></p> <p><iframe height="315" src="" width="560"></iframe></p> <p><strong>Gundlach urged investors to be &ldquo;light&rdquo; on bonds.</strong></p> <p><a href=""><em>As Vanity Fair&#39;s William Cohan reports,</em></a> Gundlach admitted &ldquo;I&rsquo;m stuck in it,&rdquo; of his massive bond portfolio, adding that <strong>interest rates have bottomed out and been rising gradually for the past six years.</strong></p> <p><a href=""><img height="315" src="" width="600" /></a></p> <p>Gundlach said<strong> his job now, on behalf of his clients, &ldquo;is to get them to the other side of the valley.&rdquo;</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>When the bigger, seemingly inevitable hikes in interest rates come, <strong>&ldquo;I&rsquo;ll feel like I&rsquo;ve done a service by getting people through,&rdquo; </strong>he said.</p> <p>&nbsp;</p> <p><em><strong>&ldquo;That&rsquo;s why I&rsquo;m still at the game. I want to see how the movie ends.&rdquo;</strong></em></p> </blockquote> <p><strong>But it can&rsquo;t end well.</strong> To illustrate his point about the risk in owning bonds these days, Gundlach shared a chart that showed how investors in European &ldquo;junk&rdquo; bonds are willing to accept the same no-default return as they are for U.S. Treasury bonds, pointing out that this phenomenon has been <strong>caused by &quot;manipulated behavior&quot; by central banks.</strong></p> <p><a href=""><img height="313" src="" width="600" /></a></p> <p><strong>European interest rates &ldquo;should be much higher than they are today,&rdquo;</strong> he said,</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;...[and] <strong>once Draghi realizes this, the order of the financial system will be turned upside down and it won&rsquo;t be a good thing.</strong></p> <p>&nbsp;</p> <p>It will mean the liquidity that has been pumping up the markets will be drying up in 2018...</p> <p>&nbsp;</p> <p><strong>...Things go down. We&rsquo;ve been in an artificially inflated market for stocks and bonds largely around the world.</strong>&rdquo;</p> </blockquote> <p><em>&ldquo;My job is to find scary things,&rdquo;</em> <a href="">Gundlach told McLean</a>...</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong><em>&ldquo;My critics say, &lsquo;You find seven risks for every one that exists.&rsquo; Guilty. That&rsquo;s my job. My job is to try to find out what can go wrong, not cover my ears and hum. It&rsquo;s better to keep your eyes open.&rdquo;</em></strong></p> </blockquote> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="716" height="415" alt="" src="" /> </div> </div> </div> Bond Bond Business Central Banks Gundlach Jeff Gundlach McLean U.S. Treasury Tue, 24 Oct 2017 03:03:00 +0000 Tyler Durden 605855 at In A Dramatic Pivot, Shia Militia Leader Tells US: "Get Ready To Leave Iraq" <p><em>The Baghdad government and its paramilitary forces increasingly see American troop presence as the actual foreign menace.</em></p> <p>A prominent Iraqi militia leader with close ties to Iran has told the United States to go home while also accusing US forces of not actually being interested in fighting ISIS:&nbsp;<strong>&ldquo;Your forces should get ready to get out of our country&nbsp;once the excuse of Daesh&rsquo;s presence is over,&quot;</strong>&nbsp;<a href="" target="_blank">said</a> Sheikh Qais al-Khazali, the commander of the Shiite PMU group&nbsp;Asaib (Popular Mobilization Unit), through the group&#39;s TV channel on Monday. The threatening statement was issued the same day&nbsp;Iraqi Prime Minister Haider al-Abadi publicly rejected Secretary of State Rex Tillerson&#39;s earlier suggestion that Iraqi paramilitary units who have for years fought Islamic State terrorists&nbsp;<strong>are actually &quot;Iranian&quot;&nbsp;and not Iraqi nationals.&nbsp;&nbsp;</strong></p> <p>On Sunday Tillerson&nbsp;<a href="" target="_blank">controversially asserted</a>&nbsp;that&nbsp;Iranian &quot;militias&quot; need to leave Iraq as the fight against Islamic State militants was coming to an end while in Riyadh where he engaged in rare high level talks with Abadi and Saudi Arabia&rsquo;s King Salman.&nbsp;&ldquo;Certainly Iranian militias that are in Iraq, now that the fighting against (the Islamic State group) is coming to a close,&nbsp;<strong>those militias need to go home</strong>,&rdquo;&nbsp;Tillerson&nbsp;<a href="" target="_blank">said</a>&nbsp;during a press conference in Riyadh, just before boarding a plane for Baghdad. &quot;All foreign fighters need to go home,&rdquo; he added.</p> <p><em><img alt="" src="" style="width: 500px; height: 342px;" /><br />Secretary of State Rex Tillerson meets with&nbsp;Iraqi Prime Minister Haider al-Abadi on Monday. Image source: Government of Iraq/Prime Minister&#39;s office.</em></p> <p>But Iraqi PM Abadi pushed back against&nbsp;the Secretary of State in a face to face meeting in Baghdad on Monday. Abadi&#39;s words to Tillerson were publicized through a statement on the prime minister&#39;s&nbsp;<a href="" target="_blank">official Facebook page</a>&nbsp;posted late Monday, which has been translated by Zero Hedge (emphasis ours):</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>Prime Minister Dr. Haider al-Abadi during his meeting with the American Secretary of State Rex Tillerson assured him that the fighters of al-Hash&#39;d al Shaabi [PMU militias]&nbsp;<strong>are Iraqi fighters who fought terrorism and protected their country</strong>, they sacrificed in order to win against Daesh [ISIS], and that Hash&#39;d al Shaabi is an official institution under the state.&nbsp;<strong>The Iraqi Constitution doesn&rsquo;t allow for foreign armed groups under state institutions,</strong>&nbsp;and further said that we should encourage these fighters because they are the hope of our country and for the region.</p> </blockquote> <p><img alt="" src="" style="width: 500px; height: 170px;" /></p> <p>And a separate statement issued earlier in the day by <a href="" target="_blank">the prime minister&#39;s media office warned</a>, <strong>&quot;No party has the right to interfere in Iraqi matters.&rdquo;</strong> So it appears, based on today&#39;s rebuttals, that the Iraqi government and its paramilitary forces increasingly see American troop presence as the actual foreign menace which potentially threatens Iraqi national sovereignty.</p> <p>Interestingly, Abadi&#39;s defense of the PMU forces appears to hinge on Article 9 section 1A of the&nbsp;<a href="" target="_blank">Iraqi Constitution</a>:&nbsp;</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 555px;" /></a></p> <p>Tillerson&#39;s statements, however, are a reflection of the Washington foreign policy establishment&#39;s increased frustration at Shiite-led Iran&rsquo;s expanding sway in the region, especially in Syria and Iraq. US regional allies Saudi Arabia and Israel are arguably even more frustrated, reflected in the increasingly inflammatory rhetoric coming out of both countries, and the fact that the two former enemies are finding&nbsp;<a href="" target="_blank">more and more common ground against Iran and Syria.</a></p> <p><strong>But the US and its allies have created the very situation and conditions they now find untenable.</strong>&nbsp;In Syria the West&#39;s fueling of an international proxy war for regime change pushed President Assad to increasingly rely on Iranian forces in a now more than 6-year long war against both homegrown and foreign Sunni jihadists. Furthermore, Iran&#39;s chief paramilitary ally in the region, Hezbollah, has played an even bigger role in pushing out ISIS and other al-Qaeda linked insurgents from Syria&#39;s major cities.</p> <p>In Iraq, Shiite parties have dominated politics since the U.S. toppled the&nbsp;<strong>Sunni-dominated secular Baathist regime of Saddam Hussein</strong>&nbsp;in 2003. Essentially, the neocons handed Baghdad to the very pro-Shia forces in Iraq that&nbsp;<a href="" target="_blank">they now rant in frustration against</a>, as is now commonly understood even among some of the very architects of Bush&#39;s war.</p> <p>The ultimate fear from the perspective of the US-Israel-Saudi axis remains the possibility of, in&nbsp;<a href="" target="_blank">the words of Henry&nbsp;Kissinger</a>, &quot;a Shia and pro-Iran territorial belt reaching from Tehran to Beirut&quot; and the establishment of a supposed &quot;Iranian radical empire.&quot;&nbsp;<strong>For neocons, the next Middle East threat ever-looms</strong>&nbsp;<strong>ad infinitum&nbsp;</strong>(there will always be another boogeyman...and another, and another, and another...) as an excuse to maintain America&#39;s&nbsp;<a href="" target="_blank">&quot;forever wars&quot;</a>&nbsp;in the region.</p> <p>And of course, Iraqi PM&nbsp;Abadi understands all of this very well - he further knows that American officials believe in the principle of &quot;sovereignty&quot; until they simply don&#39;t, that is,&nbsp;<strong>up until the point that US allied sovereign governments refuse to remain pliant puppets of American interests.</strong>&nbsp;In this case, the some 80,000 to 100,000 Iraqi PMU militias perceived by the US as being under Iranian influence and serving Iranian interests are considered by American and Saudi officials as&nbsp;<strong>intolerable,</strong>&nbsp;<strong>even while they fight ISIS.</strong></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="460" height="288" alt="" src="" /> </div> </div> </div> Abadi al-Hash'd al-Qaeda Baghdad government Government Government of Iraq/Prime Haider al-Abadi Henry Kissinger Hizballah Iran Iraq Iraq Iraqi Civil War Iraqi government Iraqi militia Iraqi Shia Muslims Israel Middle East Middle East Mohammed Mahdi al-Bayati Mosul liberation Neocons Politics Popular Mobilization Forces Popular Mobilization Unit Prime Minister of Iraq Rex Tillerson Rex Tillerson Saudi Arabia Shiite PMU War Tue, 24 Oct 2017 02:38:11 +0000 Tyler Durden 605864 at MSNBC Catches Illegals Jumping Border Fence With Mexico As It Reports On Trump's Wall <p>In an delightfully ironic lesson why border protection is important for the US, an MSNBC crew was reporting on the prototypes of Trump’s proposed border wall near San Diego, when the interview was interrupted by a group of “migrants not from Mexico” hopping over the existing fence.</p> <p><iframe src="" width="600" height="338" frameborder="0"></iframe></p> <p>“What happened?” the MSNBC reporter shouts as a group of agents on horseback move in to catch border jumpers. “The people are crossing!” </p> <p>“Almost on cue, a group of asylum-seekers, migrants not from Mexico, jumped over the existing fence to turn themselves in to border agents on horseback,” the narrator explained. </p> <p>“It’s like, a small group of three people jumped over in the middle of the day,” he told a border patrol agent he was interviewing. “There’s a girl there in a pink backpack. <strong>Can you explain to me what’s going on?”</strong></p> <p>What's going on is that, as the border agent explained, it’s just another day at work fighting the battle to secure the nation’s southern border.</p> <p>“This is the reality of every day border enforcement. The United States is still the draw, the ultimate draw, for people that have dire situations where they’re at,” the agent said. “We’re going to continue to witness this. It plays out on a regular basis for us.” </p> <p>“And it did here just now,” the dismayed reporter replied, as first observed by <a href="">the American Mirror</a>.</p> <p>* * * </p> <p>Meanwhile, construction crews are currently erecting eight roughly 30-foot-tall prototypes for the president’s border wall in a remote section of the border near San Diego, where at least a half dozen illegal immigrants have been arrested while attempting to cross amid the construction, according to NPR. The prototypes currently include four made of solid concrete, four made of steel and concrete and one topped with spikes.</p> <p>“Customs and Border Protection is paying $20 million to six construction companies from Mississippi, Maryland, Alabama, Texas and Arizona” to construct the models by the end of the month, after which CBP will evaluate them based on three criteria, NPR reports.</p> <p>“We want a better barrier. One that is hard to scale, hard to penetrate and hard to tunnel under,” Roy Villareal, chief of the San Diego Border Patrol sector, told NPR. “We’re hoping innovation from private industry combined with our experience generates the next evolution of border security infrastructure.”</p> <p>For those who missed it, here is our exclusive drone footage of the 8 different wall types currently under consideration.</p> <p><iframe src="" width="600" height="338" frameborder="0"></iframe></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="565" height="332" alt="" src="" /> </div> </div> </div> Border barrier Borders CAPTCHA Cultural globalization Demography Human geography Human migration Illegal immigration Illegal immigration to the United States Mexico Mexico–United States border MSNBC Physical security Political geography Reality Social Issues Tue, 24 Oct 2017 02:21:09 +0000 Tyler Durden 605868 at