http://www.zerohedge.com/fullrss2.xml/etf_headlines/ETF-in-Focus--EWJ-May-23.html en Flynn Blames "Escalating Public Frenzy" For Refusal To Comply With Subpoena http://www.zerohedge.com/news/2017-05-22/flynn-blames-escalating-public-frenzy-refusal-comply-subpoena <p>Several hours after the <a href="http://www.zerohedge.com/news/2017-05-22/michael-flynn-plead-fifth-will-decline-senate-subpoena">AP reported </a>that former National Security Advisor Michael Flynn would refuse to comply with a Senate subpoena, nor produce requested documents as he prepared to plead the Fifth, his lawyers explained that a daily "<strong>escalating public frenzy against him</strong>" and the Justice Department’s appointment of a special counsel "have created a legally dangerous environment for him to cooperate with a Senate investigation."</p> <p>That’s the explanation provided in a letter that was written on behalf of the former national security adviser and obtained by <a href="https://www.apnews.com/aa3818ca3c844d46ad32bef19511ac73/The-Latest:-Flynn-attorneys-cite-'public-frenzy-against-him'">The Associated Press </a>under President Donald Trump. It also sounds very much like a cop out. </p> <p>Earlier in the day, a Republican member of the Senate Intelligence Committee said “we will get to the truth one way or another” even though former National Security Adviser Michael Flynn is citing Fifth Amendment protections in the panel’s investigation into Russia. Sen. James Lankford tweeted that it is Flynn’s right to invoke his constitutional right against self-incrimination as part of the probe into interference in the 2016 elections. The Oklahoma lawmaker tweeted: “We need facts, not speculation &amp; anonymous sources.”</p> <p>Democratic Sen. Dianne Feinstein said Flynn’s move was “unfortunate but not unexpected” and the committee would gain information in other ways.</p> <p>Flynn's letter, which was sent on Monday by Flynn’s legal team to the Senate Intelligence committee, also lays out the case for Flynn to invoke his Fifth Amendment protection against self-incrimination and his decision not to produce documents in response to a congressional subpoena. </p> <p>The letter also says that the current context of the Senate’s investigation into Russia’s meddling in the 2016 election threatens that “<strong>any testimony he provides could be used against him</strong>.” He is probably right, espeically if he is guilty, although by pleading the Fifth, it is virtually assured that at least the court of public opinion has turned largely against the former Lt. General, with the only question on people's minds is <em>what is Flynn hiding. </em>Perhaps the answer will be revealed either today or in the coming days as part of the now daily release of WaPo/NYT bombshell dump, which tends to hit just after the market closes.</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="259" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/flynn%20teaser%203_2.jpg?1495479891" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-22/flynn-blames-escalating-public-frenzy-refusal-comply-subpoena#comments Department of Justice Donald Trump Flynn Law Law national security Oklahoma Politics Self-incrimination Senate Senate Intelligence Committee Testimony UN Court Mon, 22 May 2017 19:04:53 +0000 Tyler Durden 596433 at http://www.zerohedge.com "They're Going To Get Rid Of Him One Way Or Another..." http://www.zerohedge.com/news/2017-05-22/theyre-going-get-rid-him-one-way-or-another <p><a href="http://kunstler.com/clusterfuck-nation/do-you-mr-jones/"><em>Authored by Howard Kunstler via Kunstler.com,</em></a></p> <p><strong>In case you wonder how our politics fell into such a slough of despond, the answer is pretty simple.</strong> Neither main political party, or their trains of experts, specialists, and mouthpieces, can construct a coherent story about what is happening in this country &mdash; and the result is a roaring wave of recursive objurgation and wrath that loops purposelessly towards gathering darkness.</p> <p><strong>What&rsquo;s happening is a slow-motion collapse of the economy. </strong>Neither Democrats or Republicans know why it is so remorselessly underway. A tiny number of well-positioned scavengers thrive on the debris cast off by the process of disintegration, but they don&rsquo;t really understand the process either &mdash; the lobbyists, lawyers, bankers, contractors, feeders at the troughs of government could not be more cynical or clueless.</p> <p><strong>The nation suffers desperately from an absence of leadership and perhaps even more from the loss of faith that leadership is even possible after years without it. </strong>Perhaps that&rsquo;s why so much hostility is aimed at Mr. Putin of Russia, a person who appears to know where his country stands in history, and who enjoys ample support among his countrymen. How that must gall the empty vessels like Lindsey Graham, Rubio, Schumer, Feinstein, Ryan, et. al.</p> <p>So along came the dazzling, zany Trump, who was able to communicate a vague sense-memory of what had been lost in our time of American life, whose sheer bluster resembled something like conviction as projected via the cartoonizing medium of television, and who entered a paralysis of intention the moment he stepped into the oval office, where he proved to be even less authentic than the Wizard of Oz. <strong>Turned out he didn&rsquo;t really understand the economic collapse underway either; he just remembered an America of 1962 and though somehow the national clock might be turned back.</strong></p> <p><strong>The industrial triumph of America in the 19<sup>th</sup> and 20<sup>th</sup> century was really something to behold. But like all stories, it had a beginning, a middle, and an end, and we&rsquo;re closer to the end of that story than the middle. </strong>It doesn&rsquo;t mean the end of civilization but it means we have to start a new story that provides some outline of a life worth living on a planet worth caring about.</p> <p>For the moment the fragmentary stories of redemption revolve around technological rescue remedies, <strong>chiefly the idea that electric cars will save the nation.</strong> This <strong><u>dumb narrative alone ought to inform you just how lost we are</u></strong>, because the story assumes that our prime objective is to remain car-dependent at all costs &mdash; when one of the main features in the story of our future is the absolute end of car dependency and all its furnishings and accessories. We can&rsquo;t imagine going there. (How would you, without a car?)</p> <p>The economy is collapsing because it was based on cheap oil, which is no longer cheap to pull out of the ground &mdash; despite what you might pay for it at the pump these days. The public is understandably confounded by this. <strong>But their mystification does nothing to allay the disappearance of jobs, incomes, prospects, or purpose.</strong> They retreat from the pain of loss into a fog of manufactured melodrama featuring superheros and supervillains and supernatural doings.</p> <p>Donald Trump could never be a Franklin Roosevelt or a Lincoln. These were figures who, if nothing else, could articulate the terms that reality had laid on America&rsquo;s table in their particular moments of history. Mr. Trump can barely speak English and his notions about history amount to a kind of funny papers of the mind. <strong>A sinister host of adversaries who ought to understand what is happening in this country, but don&rsquo;t, or can&rsquo;t, or won&rsquo;t, are coming after him, and they are going to get rid of him one way or another.</strong> They have to. They must. And they will.</p> <p><em><strong>And then what?</strong></em></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="222" height="86" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170522_what.jpg?1495466113" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-22/theyre-going-get-rid-him-one-way-or-another#comments American people of German descent Climate change skepticism and denial Donald Trump Donald Trump Politics of the United States Reality The Apprentice United States WWE Hall of Fame Mon, 22 May 2017 18:46:35 +0000 Tyler Durden 596413 at http://www.zerohedge.com Sinkhole Opens In Front Of Mar-a-Lago, Jokes Pour In http://www.zerohedge.com/news/2017-05-22/sinkhole-opens-front-mar-lago-jokes-pour <p>With Trump traveling half-way around the globe, on Monday an amusing "event of nature" took place at the president's favorite "ground zero", when a sinkhole opened up in front of Trump’s Mar-a-Lago resort where he has previously hosted world leaders including China's Xi Jinping and Japan's PM Shinzo Abe, prompting an advisory from the Town of Palm Beach.</p> <blockquote class="twitter-tweet"><p dir="ltr" lang="en">Sinkhole in front of Mar-a-Lago: A 4' x 4' sinkhole has formed on Southern Boulevard directly in front of… <a href="https://t.co/5xOpmJ8Y2v">https://t.co/5xOpmJ8Y2v</a></p> <p>— Town of Palm Beach (@townpalmbeach) <a href="https://twitter.com/townpalmbeach/status/866663471479275522">May 22, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script><p>The 4-foot-by-4-foot sinkhole, first reported by the <a href="http://townofpalmbeach.com/AlertCenter.aspx?AID=294&amp;amp;utm_source=dlvr.it&amp;amp;utm_medium=twitter">local municipality</a>, formed on Southern Boulevard directly in front of Mar-a-Lago, in the vicinity of a newly installed water main. </p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/c9dc3d7b-3f10-11e7-b25e-3b40e5cf61d9_600x400.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/c9dc3d7b-3f10-11e7-b25e-3b40e5cf61d9_600x400_0.jpg" width="500" height="333" /></a></p> <p>The town says utility crews will likely do exploratory excavation on Monday to determine the cause of the sinkhole.</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p>A 4' x 4' sinkhole has formed on Southern Boulevard directly in front of Mar-a-Lago. It appears to be in the vicinity of the newly installed water main. West Palm Beach Utilities distribution crews have secured the area and will most likely need to do some exploratory excavation today. One lane is closed but the road remains open. Please pay attention to signs.</p> </blockquote> <p>While there were no further details about the geological aberration, and certainly no comment from the White House or Trump, who is currently having dinner with Netanyahu, users on Twitter decided to have some fun with news first noted <a href="https://www.washingtonpost.com/news/the-fix/wp/2017/05/22/sinkhole-forms-in-front-of-mar-a-lago-metaphors-pour-in/?utm_term=.a87d714b813b">by the WaPo</a>, and shortly after the sinkhole opened up the jokes started pouring in.</p> <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">&quot;Give us a sign, God.&quot;<br />[sinkhole appears in front of Mar-A-Lago]<br />&quot;Hm, can&#39;t be sure that&#39;s anything.&quot;<a href="https://t.co/oTrfQkYBxR">https://t.co/oTrfQkYBxR</a></p> <p>&mdash; Full Frontal (@FullFrontalSamB) <a href="https://twitter.com/FullFrontalSamB/status/866695600800182272">May 22, 2017</a></p></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script><blockquote class="twitter-tweet"> <p dir="ltr" lang="en"><a href="https://twitter.com/townpalmbeach">@townpalmbeach</a> <a href="https://twitter.com/Fahrenthold">@Fahrenthold</a> Has anyone ever rooted for a sinkhole before?</p> <p>— chuckyou2 (@chuckyoutwo) <a href="https://twitter.com/chuckyoutwo/status/866671091649048576">May 22, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script><blockquote class="twitter-tweet"> <p dir="ltr" lang="en">A sinkhole just opened in front of President Trump’s Mar-a-Lago estate <a href="https://t.co/vlSlzzwBCP">https://t.co/vlSlzzwBCP</a> THE ORB DEMANDS SACRIFICE</p> <p>— Oliver Willis (@owillis) <a href="https://twitter.com/owillis/status/866688899229392896">May 22, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script><blockquote class="twitter-tweet"> <p dir="ltr" lang="en">The swamp is draining? <a href="https://t.co/iWE7BjFs9i">https://t.co/iWE7BjFs9i</a></p> <p>— Peter Stevenson (@PeterWStevenson) <a href="https://twitter.com/PeterWStevenson/status/866670529071259655">May 22, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script><blockquote class="twitter-tweet"> <p dir="ltr" lang="en">Actions have consequences, people. <a href="https://t.co/r0LOrGBldy">pic.twitter.com/r0LOrGBldy</a></p> <p>— Slade Sohmer (@Slade) <a href="https://twitter.com/Slade/status/866677394345742336">May 22, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script><blockquote class="twitter-tweet"> <p dir="ltr" lang="ro">Sinkhole, or portal?</p> <p> <a href="https://t.co/2Gic8kHCHa">https://t.co/2Gic8kHCHa</a></p> <p>— CrayfishCrawdad (@CrayfishCrawdad) <a href="https://twitter.com/CrayfishCrawdad/status/866671628595417088">May 22, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script> <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="600" height="400" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/c9dc3d7b-3f10-11e7-b25e-3b40e5cf61d9_600x400.jpg?1495479075" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-22/sinkhole-opens-front-mar-lago-jokes-pour#comments David Fahrenthold Donald Trump Florida Florida State Road 80 Mar-a-Lago National Register of Historic Places in Palm Beach County, Florida Palm Beach International Airport Sinkhole Twitter Twitter United States West Palm Beach, Florida White House White House Mon, 22 May 2017 18:30:00 +0000 Tyler Durden 596430 at http://www.zerohedge.com King Dollar; Breaking key support levels http://www.zerohedge.com/news/2017-05-22/king-dollar-breaking-key-support-levels <p><img src="https://www.kimblechartingsolutions.com/wp-content/uploads/2017/05/shrinking-dollar.jpg" style="user-select: none; background-position: 0px 0px, 10px 10px; background-size: 20px 20px; background-image: linear-gradient(45deg, #eeeeee 25%, transparent 25%, transparent 75%, #eeeeee 75%, #eeeeee 100%), linear-gradient(45deg, #eeeeee 25%, white 25%, white 75%, #eeeeee 75%, #eeeeee 100%); display: block; margin-left: auto; margin-right: auto;" /></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; outline: 0px; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 14px; color: #303030; font-family: &quot;Open Sans&quot;, Arial, sans-serif;">The&nbsp;<strong style="box-sizing: border-box; outline: 0px; background: transparent;">US Dollar</strong>&nbsp;(CURRENCY:USD) has shown strength&nbsp;versus the&nbsp;<strong style="box-sizing: border-box; outline: 0px; background: transparent;">Euro</strong>&nbsp;(CURRENCY:EUR) since 2008, with the “meat” of that strength coming in the last 3 to 4 years.&nbsp;This strength worked&nbsp;as a headwind for precious metals, emerging markets, and at times,&nbsp;the domestic economy.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; outline: 0px; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 14px; color: #303030; font-family: &quot;Open Sans&quot;, Arial, sans-serif;">But that market dynamic is at a crossroads… and may be nearing a turning point.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; outline: 0px; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 14px; color: #303030; font-family: &quot;Open Sans&quot;, Arial, sans-serif;">A&nbsp;currency “shift” here would have short- to intermediate-term consequences for various assets across investors portfolios. So investors need to stay tuned. &nbsp;This could also usher in some&nbsp;volatility, as traders look to re-align their currency hedges and interests.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; outline: 0px; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 14px; color: #303030; font-family: &quot;Open Sans&quot;, Arial, sans-serif;">As you can see in the chart below, the US Dollar hit dual resistance at the same time that the Euro hit dual support. And currently the Dollar is attempting to break a key rising support trend line. This comes at the same time that the Euro is attempting to breakout over key downtrend price resistance.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; outline: 0px; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 14px; color: #303030; font-family: &quot;Open Sans&quot;, Arial, sans-serif;">Could these reversal patterns mark a turning point in the global markets for traders?</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; outline: 0px; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 14px; color: #303030; font-family: &quot;Open Sans&quot;, Arial, sans-serif;"><a href="https://www.kimblechartingsolutions.com/wp-content/uploads/2017/05/dollar-breaking-support-euro-breaking-resistance-may-22.jpg" target="_blank" title="King Dollar; Breaking key support levels"><img src="https://www.kimblechartingsolutions.com/wp-content/uploads/2017/05/dollar-breaking-support-euro-breaking-resistance-may-22.jpg" alt="US dollar index and Euro kimble charting solutions" title="King Dollar; Breaking key support levels" width="1000" style="background-position: 0px 0px, 10px 10px; background-size: 20px 20px; background-image: linear-gradient(45deg, #eeeeee 25%, transparent 25%, transparent 75%, #eeeeee 75%, #eeeeee 100%), linear-gradient(45deg, #eeeeee 25%, white 25%, white 75%, #eeeeee 75%, #eeeeee 100%); display: block; margin-left: auto; margin-right: auto;" /></a></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; outline: 0px; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 14px; color: #303030; font-family: &quot;Open Sans&quot;, Arial, sans-serif; text-align: center;"><span style="box-sizing: border-box; outline: 0px; background: transparent; color: #0000ff;"><strong style="box-sizing: border-box; outline: 0px; background: transparent;">CLICK ON CHART TO ENLARGE</strong></span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; outline: 0px; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 14px; color: #303030; font-family: &quot;Open Sans&quot;, Arial, sans-serif;">This post was originally shared on&nbsp;<a href="https://www.seeitmarket.com/" style="box-sizing: border-box; background: transparent; color: #2ea3f2; outline: 0px;"><strong style="box-sizing: border-box; outline: 0px; background: transparent;">See It Markets</strong></a>. to see more charts on the US Dollar, &nbsp;Euro and rest of the article,&nbsp;<strong style="background: transparent; box-sizing: border-box; color: #2ea3f2; outline: 0px;"><a href="https://www.seeitmarket.com/currency-market-shift-at-play-us-dollar-breaking-key-support-16890/" style="box-sizing: border-box; background: transparent; color: #2ea3f2; outline: 0px;">SEE HERE</a></strong></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; font-variant-numeric: inherit; font-stretch: inherit; font-size: 14px; line-height: 1.3; font-family: &quot;Open Sans&quot;, Arial, sans-serif; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; outline: 0px; color: #303030;">&nbsp;</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; padding-bottom: 1em; font-variant-numeric: inherit; font-stretch: inherit; font-size: 14px; line-height: 1.3; font-family: &quot;Open Sans&quot;, Arial, sans-serif; background-image: initial; 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font-family: lucida_granderegular, Verdana, sans-serif;">&nbsp;</p> <p style="box-sizing: border-box; margin: 0in 0in 0.0001pt; font-variant-numeric: inherit; font-stretch: inherit; font-size: 13px; line-height: 1.3; font-family: lucida_granderegular, Verdana, sans-serif;">&nbsp;</p> <p style="box-sizing: border-box; margin: 0in 0in 0.0001pt; font-variant-numeric: inherit; font-stretch: inherit; font-size: 13px; line-height: 1.3; font-family: lucida_granderegular, Verdana, sans-serif;"><span style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; color: #303030;"><strong style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit;"><br /></strong></span></p> <div class="field field-type-filefield field-field-image-blog"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_blog" width="1568" height="734" alt="" src="http://www.zerohedge.com/sites/default/files/images/user182769/imageroot/dollar-breaking-support-euro-breaking-resistance-may-22.jpg?1495476783" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-22/king-dollar-breaking-key-support-levels#comments Business Currency Economy Euro Finance Foreign exchange market Precious Metals Technical analysis Volatility Mon, 22 May 2017 18:13:11 +0000 kimblecharting 596429 at http://www.zerohedge.com BofA Finally Asks "Is The Tech Bubble Happening Again?" http://www.zerohedge.com/news/2017-05-22/bofa-finally-asks-tech-bubble-happening-again <p>While not nearly in the same ballpark as what is taking place right now with <a href="http://www.zerohedge.com/news/2017-05-22/bitcoin-blasts-through-2200-heres-why">bitcoin, and its various alt-coin peers</a>, the ~30% YTD move higher in tech stocks has been just as impressive, and is beginning to result in warnings of "deja vu" among at least among some bank analysts. One such growing skeptic, is BofA's Michael Hartnett who writes that US growth stocks have just surpassed the 2000 “bubble” highs vs global value stocks and wonders if "the [next] tech bubble has started." </p> <p>Asking rhetorically “<strong>Alexa, how high can markets fly</strong>?” Hartnett writes that 2017 has seen big global stock (10%) and bond gains (4%), as well as the dramatic resumption of a bullish “deflation” trade. Leadership in stock markets has reverted to the “growth” theme, while leadership in bonds has reverted to the “yield” theme. For example:</p> <ul> <li>Nasdaq Internet index annualizing a 80% total return</li> <li>CCC rated junk bonds annualizing an 18% gain, while EM sovereign bonds (EMGB) annualizing a 17% gain.</li> </ul> <p>Pointing out something we <a href="http://www.zerohedge.com/news/2017-04-21/why-nothing-matters-central-banks-have-bought-record-1-trillion-assets-2017">showed one month ago</a>, namely that in a world awash with central bank liquidity "nothing matters", Hartnett laments that "<em>the lack of tax reform, lack of strong economic growth, no oil recovery, more geopolitical tension, China credit fears, none of it has mattered thanks to the ongoing central bank “Liquidity Supernova”: <strong>central banks have purchased a whopping $1.1tn of asset YTD</strong></em>."</p> <p>The provision of maximum liquidity has been validated by weaker-than-expected global core inflation. Given buoyant global PMIs and closing output gaps this is perhaps best explained by the “Amazonification” of Main Street (e.g. since 2010 US retail floor space is down 10%, while US department store sales are down 18%), as well as other structural deflation drivers such as aging demographics. <strong>The renewed combo of low growth, inflation &amp; yields have propelled <span style="text-decoration: underline;">US growth stocks above their 2000 “tech bubble” highs versus global value stocks</span></strong> (Chart 1).</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%201.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%201_0.jpg" width="500" height="278" /></a></p> <p>Or, to summarize, "<strong>US growth stocks just surpassed 2000 “bubble” highs vs global value stocks; data on valuation (Table 1), flows, and the relationship between equities and bond yields are all good clues that a speculative overshoot has begun; there are nascent signs we are in the very early stages of an overshoot</strong>."</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%202.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%202_0.jpg" width="500" height="210" /></a></p> <p>To this the traditional fall back response has been that unlike during the bubbles of 2000 and 2005-6 there has been far less investor euphoria and animal spiris. Well, there is a reason for that. </p> <p>According to Hartnett, tech disruption is as rampant on Wall Street as it is on Main Street, as the diverging trends in flows to passive and active managers in the past 10 years illustrates. </p> <p>He believes that this structural shift is <strong>"suppressing the typical euphoria normally tangible at great market tops." </strong>And yet, since active managers are unhappy because they need the market to go down to show they can outperform passive strategies; and private clients are unhappy as they want the market to go down so they can participate more aggressively in the bull market…so the “pain trade” in risk assets (equities &amp; credit) remains up.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%203.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%203_0.jpg" width="500" height="277" /></a></p> <p>Here, Hartnett goes back to his long-running investment thesis, but admits that "our bullish Icarus melt-up view is working, <strong>but more because of a reversion to the max liquidity, minimal growth, minimal volatility backdrop of yesteryear, rather than the successful implementation of inflationary economic policies.</strong>" Furthermore, one can make a case for a global asset bubble:</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p>Either way, the BofAML Bull &amp; Bear index is creeping up toward a “sell signal” of 8 (it is currently 7.3 - see page 8). But the summer risk is an equity overshoot. Note that at 2630 on the S&amp;P500 index (or 510 on ACWI) the ratio of global market cap to global GDP will exceed all-time highs set in 1999 &amp; 2007. These are plausible targets: <strong>the longer it takes central banks to tighten, the greater the risk of tech &amp; “growth” stocks entering a speculative frenzy.</strong></p> </blockquote> <p>Which brings us to BofA's question which few if any other market participants have dared to ask, at least officially: <strong>“Alexa, will the tech bubble happen again?”</strong></p> <p>Here is Hartnett's answer:</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p><strong>Data on valuation, flows, and the relationship between equities and bond yields are all good clues that a speculative overshoot has begun</strong>. There are nascent signs we are in the very early stages of an overshoot. </p> <p>&nbsp;</p> <p><span style="text-decoration: underline;"><strong><em>Excess valuation</em></strong></span></p> <ul> <li>The market cap of many of new tech giants is already greater than the GDP of large US cities: Google is bigger than Chicago, Amazon is bigger than Washington DC (see table front page)</li> <li>Another breathtaking valuation stat: at $1,450bn the combined market cap of Google &amp; Apple is larger than the combined market cap of Eurozone &amp; Japanese financials ($1,310bn)</li> <li>The following table shows that the “belly of the beast” of the current equity bull market, the Nasdaq Internet index, is approaching PE levels (61X) that are as spicy as they were in prior “big tops” in stock markets, and at a time where policy is turning less favorable</li> </ul> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%204.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%204_0.jpg" width="500" height="215" /></a></p> <ul> <li>That said, the PE on the global MSCI tech sector is currently 18X, far below the level reached in March 2000 (peak PE was 50X)</li> <li>And in 2017 tech EPS numbers are strengthening, currently forecast to grow 16% (Chart 3), thus undermining the case for excess valuation.</li> </ul> <p><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%205_0.jpg" width="500" height="281" /></p> <p>&nbsp;</p> <p><strong><span style="text-decoration: underline;"><em>Irrational Exuberance</em></span></strong></p> <ul> <li>Inflows to tech funds are rising at their fastest annualized rate (25% of AUM) in 15 years, a sign of renewed exuberance (Chart 4)</li> </ul> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%206.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%206_0.jpg" width="500" height="273" /></a></p> <ul> <li>That said, in the 1999-2000 tech “bubble” irrational exuberance was much more visible than today: FMS cash “irrationally” declined sharply in 1999 despite widespread views of excessive valuations (Chart 5); in contrast the recent May FMS shows investors’ view of “excess valuation” in stocks is the highest since Jan'2000 but cash levels are not (yet) collapsing</li> </ul> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%207.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/tech%20bub%207_0.jpg" width="500" height="261" /></a></p> </blockquote> <p>Finally, to cool off speculation that we are approaching the top of the second tech bubble, Hartnett points out that the classic sign of a speculative overshoot in equities is a period of rising stock prices that elicits a rise in bond yields, <strong>as fixed income markets start to anticipate central bank action to “cool” the fever on Wall Street</strong>. He goes on to say that "this occurred in Japan in 1989, in the US in 1999, and at the short-end in the Eurozone in 2007-2008. It is not yet happening." This is true, but it begs the question: with the fixed income market just as corrupted by central planning - after all central banks own over $13 trillion in mostly fixed income assets - one wonders if this is even a relevant metric any more...</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="705" height="392" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/tech%20bub%201.jpg?1495476048" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-22/bofa-finally-asks-tech-bubble-happening-again#comments Apple Bitcoin Bond Bond Business Business cycle Central Banks China Demographics Economic bubble Economic history of the Dutch Republic Economy Eurozone Finance fixed Google High-yield debt Irrational Exuberance Irrational exuberance Japan Main Street Money MSCI World NASDAQ NASDAQ Nasdaq Internet None Real estate bubble recovery Stock market Volatility Mon, 22 May 2017 18:08:02 +0000 Tyler Durden 596426 at http://www.zerohedge.com Busted: ISIS Really a Guerrilla Marketing Company http://www.zerohedge.com/news/2017-05-22/busted-isis-really-guerrilla-marketing-company <p><a href="http://www.thedailybell.com/news-analysis/busted-isis-really-a-guerrilla-marketing-company/">Via The Daily Bell</a></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">ISIS wants to&nbsp;<a href="http://www.independent.co.uk/news/world/isis-iraq-chemical-weapons-nazi-experiments-human-guinea-pigs-a7747156.html" style="box-sizing: border-box; background: 0px 0px; color: #0c5b3c;">poison our water supply</a>, but the joke’s on them! The U.S. government already beat them to the punch.</p> <blockquote style="box-sizing: border-box; padding: 10px 20px; margin: 0px 0px 20px; font-size: 17.5px; border-left: 5px solid #eeeeee; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;"><p style="box-sizing: border-box; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px;">The extremist group&nbsp;has reportedly&nbsp;poisoned prisoners by spiking their food and water with compounds used in pesticides that are easy to obtain</p> <p style="box-sizing: border-box; font-size: 16px; line-height: 24px; padding-bottom: 8px;">Security forces now fear the terror network may hatch a twisted plot to contaminate Western food supplies with formulas that quickly&nbsp;dissolve in liquid.</p> </blockquote> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">Oh, you mean like by spraying Roundup and other herbicides on thousands upon thousands of acres of agricultural land? Or maybe by intentionally adding fluoride to the water supply even though drinking it has proven ineffective in promoting dental health, but quite effective in causing tons of health issues and making people more moldable to authority?</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">Sorry ISIS the United States government is way ahead of you in poisoning the citizens. True, ISIS is experimenting with immediate killers like thallium sulfate, but that’s nothing a reverse osmosis filter can’t handle.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">In fact, ISIS may have just inadvertently saved millions of people by spurring them to purchase state of the art&nbsp;<a href="http://amzn.to/2ru1XdP" style="box-sizing: border-box; background: 0px 0px; color: #0c5b3c;">water filtration systems</a>. In attempting to protect themselves from terrorism, Americans may inadvertently protect themselves from the U.S. government.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">That’s it, the truth is out! ISIS is really the guerilla marketing campaign to sell Americans on protecting themselves from our government. Busted. The old reverse psychology trick.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">But in reality, this might not be far from the truth. It’s just that ISIS is really a marketing company designed to sell us fear.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;"><a href="http://thefreethoughtproject.com/pentagon-fake-terrorist-videos/" style="box-sizing: border-box; background: 0px 0px; color: #0c5b3c;">The CIA and U.S. military were caught</a>&nbsp;spending over half a billion dollars in Iraq to make propaganda videos which would then be disseminated through various forms of media. Some of these videos were specifically made to resemble videos by Arab news outlets and surely passed for such on many occasions.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">Also widely believed, is that the CIA created the supposed&nbsp;<a href="http://www.globalresearch.ca/isis-beheadings-of-journalists-cia-admitted-to-staging-fake-jihadist-videos-in-2010/5399345" style="box-sizing: border-box; background: 0px 0px; color: #0c5b3c;">ISIS beheading videos</a>&nbsp;which made their rounds a couple years ago. And seeing as there is plenty of evidence that the CIA created ISIS itself, this is not hard to believe.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif; text-align: center;"><span style="box-sizing: border-box; font-weight: bold;">Take it With a Grain of Thallium Sulfate</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">We don’t want to make light of serious issues, but any news about what ISIS is doing raises red flags. We know&nbsp;<a href="http://www.thedailybell.com/news-analysis/false-flag-how-the-u-s-armed-syrian-rebels-to-set-up-an-excuse-to-attack-assad/" style="box-sizing: border-box; background: 0px 0px; color: #0c5b3c;">ISIS is a creation of the CIA</a>&nbsp;(whether you think they created it deliberately or accidentally).</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">We also know that the main point of various terrorist organizations (including those funded by the U.S. government) is to spread fear. Surely many terrorists would be perfectly happy killing millions of Americans, but that is a very unlikely scenario.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">Still, as always we need to be alert to potential real risks in order to thwart them, while not falling into the trap of being so fearful that we change the course of our lives and thus deliver the terrorists in and outside of our government their victory.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">The Daily Bell wants to be a place for solutions, not a fear machine, or echo chamber.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;"><span style="box-sizing: border-box; font-weight: bold;">Solution</span>:&nbsp;<a href="http://amzn.to/2qNpy8w" style="box-sizing: border-box; background: 0px 0px; color: #0c5b3c;">Buy a water filter</a>. Seriously, if you are worried about fluoride and lead in the water, which you definitely should be, you need to get yourself a nice hardcore water filter and sleep easy. This has the added benefit of assuaging any fear of terrorists contaminating your water with poisons.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">The most effective filtration systems use a combination of reverse osmosis and carbon filters. Carbon removes chlorine and many biological contaminants, while reverse osmosis removes basically everything else; pesticides, nitrates, fluoride, thallium, sulfates, and arsenic.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;"><a href="https://www.amazon.com/iSpring-RCC7-Certified-5-Stage-Drinking/dp/B003XELTTG/ref=as_li_ss_il?s=kitchen-bath&amp;ie=UTF8&amp;qid=1495472306&amp;sr=1-5&amp;keywords=reverse+osmosis+water+filtration+system&amp;linkCode=li3&amp;tag=joejarme-20&amp;linkId=af939d2edfeb9fcf3b4ede9ce18a2b4b" style="box-sizing: border-box; background: 0px 0px; color: #0c5b3c;"><img src="http://ws-na.amazon-adsystem.com/widgets/q?_encoding=UTF8&amp;ASIN=B003XELTTG&amp;Format=_SL250_&amp;ID=AsinImage&amp;MarketPlace=US&amp;ServiceVersion=20070822&amp;WS=1&amp;tag=joejarme-20" border="0" style="box-sizing: border-box; vertical-align: middle; max-width: 100%; display: block; margin: 5px auto; height: auto !important;" class="aligncenter" /></a><img src="https://ir-na.amazon-adsystem.com/e/ir?t=joejarme-20&amp;l=li3&amp;o=1&amp;a=B003XELTTG" width="1" height="1" border="0" style="box-sizing: border-box; vertical-align: middle; max-width: 100%; border-width: initial !important; border-style: none !important; height: auto !important;" /></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">The downside to reverse osmosis filter is that they waste a lot of water in the process of filtration, and they also remove trace elements which are good for you, like magnesium and calcium. It also would not work without water pressure, meaning it is not a suitable option for emergency situations where power and water pressure are lost.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">You will know better than us what makes the most sense for your situation.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">There is no magic bullet, no one easy step to removing yourself from the storm of power and domination. But it is a series of steps that bring a hiker to the mountaintop. Being daunted by the number of steps ahead only stops us from starting the trek.</p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-size: 16px; line-height: 24px; padding-bottom: 8px; color: #303030; font-family: Georgia, &quot;Times New Roman&quot;, Times, serif;">A dying beast on its last legs will lash out, thump its chest, show its teeth, and growl ferociously in an attempt to gain the upper hand, and escape its fate with the dinosaurs. Remember this when you think the government and power elites look more powerful than ever–it could be their last ditch effort to remain relevant in a changing world leaving them behind.</p> http://www.zerohedge.com/news/2017-05-22/busted-isis-really-guerrilla-marketing-company#comments Central Intelligence Agency Chemistry Filters Filtration Food processing Iraq Isis Islam Islamic State of Iraq and the Levant Politics Reality Reverse osmosis United States government US government US military Water Water desalination Water filter Water technology Mon, 22 May 2017 18:06:32 +0000 TDB 596427 at http://www.zerohedge.com Ron Paul Warns Iran Is In The Crosshairs: "Neocons Are Still Writing The Script" http://www.zerohedge.com/news/2017-05-22/ron-paul-warns-iran-crosshairs-neocons-are-still-writing-script <p><em><a href="http://www.ronpaullibertyreport.com/archives/neocons-are-still-writing-the-script">Via The Ron Paul Liberty Report,</a></em></p> <p><strong>Iran has been in neocon crosshairs for a very long time.</strong> U.S. Presidential Administrations come and go, Democrat and Republican, but the neocon script has remained the same.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_iran.jpg"><img height="306" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_iran_0.jpg" width="600" /></a></p> <p><strong>President Trump, voted in as an &quot;outsider,&quot; has adopted the insider script. </strong></p> <p>Today&#39;s speech in Saudi Arabia was crafted by Trump&#39;s neocon Senior Policy Advisor Stephen Miller.</p> <p>Miller&#39;s&nbsp;<a href="http://dailycaller.com/2017/02/01/conservatives-defend-stephen-miller-a-brilliant-and-courageous-man/" target="_blank">&quot;long-time mentor&quot;</a> is David Horowitz. Here are <a href="http://anotherdayintheempire.com/fringe-neocon-wrote-trumps-saudi-speech/" target="_blank">Horowitz&#39;s thoughts</a>&nbsp;on Bush&#39;s invasion of Iraq:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;Baghdad is liberated,&rdquo; <a href="http://rightweb.irc-online.org/profile/horowitz_david/">he wrote</a> for his FrontPage Magazine in April 2003. &ldquo;In the days to come let us not forget that if it were not for one man, and one man alone&mdash;George Bush&mdash;the people of Iraq would not be celebrating in the streets and pulling down Saddam&rsquo;s statues today.</p> <p>&nbsp;</p> <p>&hellip; We have entered the era of a new civil war between the forces of freedom and the powers of Islamo-fascist and communist darkness, and once again the left is clearly determined to take its stand on the other side. The good news is that America is back. Our military has performed superlatively. Our leadership has stood tall. We ourselves can celebrate over this and look confidently toward what lies ahead.&rdquo;</p> </blockquote> <p><strong>Long story short...Trump may be a different face, but the neocon goal has remained the same.</strong></p> <p>?Here&#39;s the relevant part of today&#39;s speech <a href="http://www.cnn.com/2017/05/21/politics/trump-saudi-speech-transcript/" target="_blank">about Iran</a> that neocon Stephen <strong><u>Miller wrote for Trump</u></strong>:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>But no discussion of stamping out this threat would be complete without mentioning the government that gives terrorists all three&mdash;safe harbor, financial backing, and the social standing needed for recruitment. <strong>It is a regime that is responsible for so much instability in the region. I am speaking of course of Iran.</strong></p> <p>&nbsp;</p> <p><strong>From Lebanon to Iraq to Yemen, Iran funds, arms, and trains terrorists, militias, and other extremist groups that spread destruction and chaos across the region. </strong>For decades, Iran has fueled the fires of sectarian conflict and terror.</p> <p>&nbsp;</p> <p>It is a government that speaks openly of mass murder, vowing the destruction of Israel, death to America, and ruin for many leaders and nations in this room.</p> <p>&nbsp;</p> <p><strong>Among Iran&#39;s most tragic and destabilizing interventions have been in Syria. </strong>Bolstered by Iran, Assad has committed unspeakable crimes, and the United States has taken firm action in response to the use of banned chemical weapons by the Assad Regime -- launching 59 tomahawk missiles at the Syrian air base from where that murderous attack originated.</p> <p>&nbsp;</p> <p>Responsible nations must work together to end the humanitarian crisis in Syria, eradicate ISIS, and restore stability to the region. <strong>The Iranian regime&#39;s longest-suffering victims are its own people. Iran has a rich history and culture, but the people of Iran have endured hardship and despair under their leaders&#39; reckless pursuit of conflict and terror.</strong></p> <p>&nbsp;</p> <p>Until the Iranian regime is willing to be a partner for peace, all nations of conscience must work together to isolate Iran, deny it funding for terrorism, and pray for the day when the Iranian people have the just and righteous government they deserve.</p> </blockquote> <p><strong>Neocons are patient.</strong></p> <p>They always keep their eyes on the prize.</p> <p><em><strong>Democrats....Republicans....&quot;Outsiders&quot;....</strong></em></p> <p><em><strong>Neocons write the script.</strong></em></p> <p>Meanwhile, our lives, our safety, and (of course) our wallets are always at their beck and call.</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="1189" height="606" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170522_iran.jpg?1495467470" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-22/ron-paul-warns-iran-crosshairs-neocons-are-still-writing-script#comments Conservatism Conservatism in the United Kingdom Conservatism in the United States Iran Iraq Islamofascism Israel Neocons Neoconservatism Political spectrum Politics Politics Right-wing politics Ron Paul Saudi Arabia War Mon, 22 May 2017 17:53:26 +0000 Tyler Durden 596414 at http://www.zerohedge.com Silver Surges As Shorts Hit 2-Year High http://www.zerohedge.com/news/2017-05-22/silver-surges-shorts-hit-2-year-high <p>The so-called &#39;smart-money&#39; has been piling into short silver positions in the last few weeks (creating the <strong>biggest hedge fund silver short in two years </strong>as of last week)... as silver rebounds from a record losing streak.</p> <p>The last two times hedgies were this short, silver managed notable gains...</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_Silver.jpg"><img height="317" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_Silver_0.jpg" width="600" /></a></p> <p>It appears that after a <strong>record-breaking streak of losing days</strong> - <a href="http://www.zerohedge.com/news/2017-05-15/was-asias-largest-commodity-trader-big-silver-seller">amid what may have been forced liquidations from Noble Group</a>...</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_silv1.jpg"><img height="315" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_silv1_0.jpg" width="600" /></a></p> <p>$16 has brought back the buyers (and perhaps Noble has ceased its commodity liquidations).</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="961" height="507" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170522_Silver.jpg?1495465049" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-22/silver-surges-shorts-hit-2-year-high#comments Economic history of the Netherlands Economy Finance Financial markets Hedge Hedge fund Money Short Streak Mon, 22 May 2017 17:30:50 +0000 Tyler Durden 596412 at http://www.zerohedge.com GEFIRA Responds To Soros' Senior Officer's "Fake News" Allegations http://www.zerohedge.com/news/2017-05-22/gefira-responds-soros-senior-officers-fake-news-allegations <p><a href="https://gefira.org/en/2017/05/22/an-answer-to-constanza-hermanin-of-huffington-post-and-formerly-of-open-society/"><em>Via GEFIRA,</em></a></p> <h2><u>An answer to Constanza Hermanin of Huffington Post and formerly of Open Society</u></h2> <p>Huffington Post recently posted in its blogging section an article,<sup> </sup>by Constanza Hermanin, professor at Science Po and the College of Europe and former Open Society&rsquo;s senior officer, one of George Soros&rsquo;s NGOs.</p> <p>The Gefira Foundation was accused in the article of being &ldquo;Eurosceptic, pro-Russian&rdquo; and that the activities of NGOs in the Mediterranean as reported by Gefira was &lsquo;&rsquo;fake news&rsquo;&rsquo;.</p> <p>We are taking the time to address the accusations:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><u><strong>1. Euroscepticism:</strong></u> If Constanza Hermanin, whose curriculum boasts researching skills refined at Columbia University, UC Berkeley, Schuman Centre for Advanced Studies, the European Commission among the others, had actually bothered making a quality research, she would have found out that the <strong>Gefira Foundation was set up by Franck Biancheri to promote European integration</strong>.<sup> </sup>Franck Biancheri himself, now deceased, was a champion of European integration and collaborator in the creation of the Erasmus Project.</p> <p>&nbsp;</p> <p>Promoting European integration however <strong>does not mean supporting the authoritarian and anti-democratic elements of the current European Union</strong>, in the form of the European Commission, the European Central Bank and the weakness of the European Parliament, nor supporting policies and approaches that we believe, in a basic exercise of democracy, go against the interests and the will of European peoples, like austerity or the TTIP.</p> <p>&nbsp;</p> <p>In conclusion, the accusation of &lsquo;&rsquo;Euroscepticism&rsquo;&rsquo; is unfounded, fruit of poor research and fake news.</p> <p>&nbsp;</p> <p><u><strong>2. Pro-Russian: </strong></u>Gefira is pro-Europe, period. We analyze the policies of the European leadership and the choices in foreign policy and whether those bring positive or negative effects for Europe. The support of liberal interventionists, also known as neoconservative &ldquo;regime changes&rdquo; by the EU leadership has been disastrous and resulted in a trade war and refugee crisis, none of which benefits Europe in any way. If European integration is to succeed, it cannot be subordinate to the interests of the United States of America. <strong>The EU should be friends with the US, not vassals.</strong> That also does not make us &ldquo;pro-Russian&rdquo;.</p> <p>&nbsp;</p> <p><strong>This accusation is therefore also unsubstantiated</strong>.</p> <p>&nbsp;</p> <p><u><strong>3. Much of our work is re-blogged without our consent.</strong></u> The opinions and views of the sites that quote us do not necessarily overlap with ours, so making accusations by referring to such sites is a typical example of creating guilt by association. We believe in their right to freely discuss our ideas.</p> <p>&nbsp;</p> <p>4. The conclusions of the Defence Commission on the NGO activities at Point 5 says: &quot;<strong>The creation of humanitarian corridors by private subjects is not allowed</strong> in any way by the internal law or the international one, nor welcome, as it is exclusive competence of states, international or supranational organizations&quot;.The author obviously did not bother to address such conclusions.</p> <p>&nbsp;</p> <p>We nonetheless agree with the quoted position and would like to underline that <strong>immigration policies</strong> of a country <strong>should be decided democratically by the citizens of said country, not by foreign oligarchs and their NGOs like Open Society and its affiliates</strong>. It is certainly ironic and hypocritical that the author of the accusations against us is actually a former employee of the said NGOs.</p> <p>&nbsp;</p> <p><u><strong>5. It is also equally ironic that the article where the author is calling for an enquiry into fake news allegedly spread by Gefira is fraught with misinformation. </strong></u>Regardless, <strong>we believe in the very basic European principles of free press and free speech</strong> and we prefer confronting lies, like the ones Constanza Hermanin wrote, with facts, <strong>without requesting the Orwellian &ldquo;Ministry of Truth&rdquo; for permission</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="269" height="162" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170522_lies.jpg?1495463107" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-22/gefira-responds-soros-senior-officers-fake-news-allegations#comments College of Europe Columbia University Council of Europe Defence Commission on the NGO Europe European Central Bank European Central Bank European Commission European integration European Parliament European Union European Union Euroscepticism Fake news Gefira Foundation George Soros Mediterranean Ministry of Truth Non-governmental organization None Open Society Politics of the European Union Schuman Centre Science Po Trade War Transatlantic Trade and Investment Partnership UC Berkeley Mon, 22 May 2017 17:10:13 +0000 Tyler Durden 596410 at http://www.zerohedge.com Watch Live: President Trump And Israeli PM Netanyahu Joint Press Conference http://www.zerohedge.com/news/2017-05-22/watch-live-president-trump-and-israeli-pm-netanyahu-joint-press-conference <p>Having confirmed earlier in his press conference with Israeli President Rivlin that <strong><em>1) he did not say the word &#39;Israel&#39; to the Russians, and 2) Iran are the bad guys</em></strong> (confirming the narrative from the Saudis the day before), President Trump is due to join Israeli PM Benjamin Netantahu shortly for a joint press conference...</p> <p><strong>Trump meets with President Rivlin at his residence for a bilat. </strong>Trump commended Rivlin&#39;s work, and the two discussed the &quot;opportunity&quot; for Israel and other countries in the Middle East to come together.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&quot;This moment in history calls for us to strengthen our cooperation, as both Israel and America face common threats &ndash; from ISIS and other terrorist groups,<strong> to countries like Iran that sponsor terrorism and fund and foment terrible violence. </strong>Together, we can work to end the scourge of violence that has taken so many lives, here in Israel and around the world.&quot; &mdash; Donald Trump.</p> </blockquote> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_trumpnet2.jpg"><img height="362" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_trumpnet2_0.jpg" width="560" /></a></p> <p>President Trump meets with Bibi in Jerusalem, where he criticizes the Iran deal as Netanyahu nods along.<em><strong> &quot;We gave them wealth and prosperity... and an ability to continue with terror,&quot; said Trump. &quot;Iran will never have a nuclear weapon. That I can tell you.&quot; </strong></em></p> <p>Trump also told Bibi that <strong>he &quot;never mentioned the word or the name Israel&quot; during his Oval Office meeting with top Russian officials. &quot;They&#39;re all saying I did, so you have another story wrong.&quot;</strong></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_trumpnet.jpg"><img height="324" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/20/20170522_trumpnet.jpg" width="564" /></a></p> <p>&nbsp;</p> <p>Alternative Feed:</p> <p><iframe width="560" height="315" src="https://www.youtube.com/embed/61VrSiRo9bo" frameborder="0" allowfullscreen></iframe></p> <p>Official Live Feed:</p> <p><iframe frameborder="0" height="315" src="https://www.youtube.com/embed/ytZXKSa82ic" width="560"></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="743" height="361" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170522_trumpnet1.jpg?1495471834" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-22/watch-live-president-trump-and-israeli-pm-netanyahu-joint-press-conference#comments Alt-right American people of German descent American television Asia Benjamin Netanyahu Business Climate change skepticism and denial Donald Trump Donald Trump Donald Trump presidential campaign Foreign policy of Donald Trump Geography of Asia Iran Israel Israel Middle East Middle East Politics Politics Reuven Rivlin Rivlin The Apprentice Trump War WWE Hall of Fame Mon, 22 May 2017 16:50:36 +0000 Tyler Durden 596419 at http://www.zerohedge.com