http://www.zerohedge.com/fullrss2.xml/article/article/ww.icecapassetmanagement.com en Bonds, Futures, Global Stocks All Rise, Boosted By "Germany's Brexit Moment"; TSY Curve Collapse Continues http://www.zerohedge.com/news/2017-11-21/bonds-futures-global-stocks-all-rise-boosted-germanys-brexit-moment-tsy-curve-collap <p>S&amp;P 500 futures are higher, continuing on yesterday's momentum, after European and Asian shares also rose alongside a rebound in oil, as the year-end performance chase appears to be accelerating. There were several different moving parts in a mixed European session, in which early Euro strength gave way to weakness...</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/EURUSD%2011.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/EURUSD%2011_0.jpg" width="500" height="246" /></a></p> <p>... which in turn pushed the Stoxx 600 and US index futures higher, rising above yesterday's session high on negligible volumes.&nbsp; </p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/ES%2011.21.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/ES%2011.21_0.jpg" width="500" height="238" /></a></p> <p>Global equity futures rallied with Hang Seng futures outperforming and flash smashing to close the session, after a strong finish for Chinese equities following a report out of MNI that Chinese deleveraging may not be as stringent next year. </p> <p>European stocks rose this morning (Stoxx 600 +0.3%) as the Euro sank, helped by positive notes out from Goldman Sachs, who are overweight European automakers.&nbsp; Goldman said in a Europe strategy note that “deep value sectors” (autos, oil, and utilities) will help Stoxx Europe to return 12% in next 12 months. As a result, European automakers outperform led by VW for a second straight day, with the SXAP index advancing as much as 1.9%, best of 19 groups on the Stoxx Europe 600 benchmark (Volkswagen +3.8%, Porsche +2.7%, BMW +2%, Daimler +1.7%).&nbsp; Additionally, Imperial Brand shares rallied after their CEO change, as analysts speculate that this could increase the likelihood that the company will be taken over by Japan Tobacco. Airliner EasyJet is flying high this morning following strong financial results. Bunds are taking another look at 163.00+ levels having faded rallies above the big figure on several occasions recently. </p> <p>Stocks have already moved on from this weekend's German government crisis: German President Frank-Walter Steinmeier said Germany was facing its worst governing crisis in the 68-year history of its post-World War Two democracy and pressed all parties in parliament “to serve our country” and try to form a government.</p> <p><strong>“The events have already been likened to Germany’s Brexit-moment,” </strong>said Daniel van Schoot, an economist at Rabobank. “That is perhaps exaggerated, but the German political situation is now very unpredictable, more than in the past three decades.”</p> <p>Bonds across the region followed a rise in Treasuries after the<br /> European Central Bank was said to be likely to make only small<br /> adjustments to its guidance on monetary policy next year. EGBs rallied led by gilts which are supported ahead of index extension tomorrow, additionally some focus from European traders on dovish ECB sources piece from yesterday. </p> <p>The dollar stayed within relatively tight ranges versus its major peers, with average volumes. The euro and the pound edged higher, backed by leveraged interest, only to be capped by their respective 55-DMAs before shedding gains. The Swedish krona led G-10 losses on the back of record low interbank rate fixings, while the Turkish lira pared a drop to an all-time low after the central bank raised borrowing costs. Meanwhile, sterling was steady and gilts advanced amid reports Prime Minister Theresa May has the backing of ministers to offer the European Union more money to break the Brexit deadlock. The Australian dollar dropped to a five-month low after suggestions from the central bank that interest rates will stay lower for longer; EUR/SEK breache'd 10.00 briefly before fading back. <strong>Turkey’s lira hit a new record low against the dollar but pared some of the drop after its central bank tightened liquidity, as the standoff between Erodogan and central bank continues.</strong></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/Turkey%20funding%20rate%20higher.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/Turkey%20funding%20rate%20higher_0.jpg" width="500" height="281" /></a></p> <p>In overnight central bank announcements, the Bank of England's Deputy Governor Cunliffe said inflation has been a bit lower than BoE forecast in Autumn and that it’s possible to wait before tightening policy until there is clear evidence that pay growth is responding to unemployment level. Elsewhere, RBA minutes from November 7th meeting stated that any further appreciation in AUD would slow expected pick-up in inflation and the economy. The minutes also stated that there is considerable uncertainty on how fast wages might pick up and add to inflation, while it added that a pass through to inflation may be delayed by many factors. RBA's Lowe stated that there is 'not a strong case' for near-term change in interest rates with the bank paying attention to soft wage growth. </p> <p>In the U.S., confirmation that Federal Reserve Chair Janet Yellen will leave the board in February creates a fourth vacancy for President Trump to fill, making it trickier for investors to bet on the central bank’s interest rate trajectory next year. While the Thanksgiving holiday gives traders an excuse to pause, equities are heading into the end of the year near their peaks, with investors optimistic about global growth and company earnings. </p> <p><strong>Meanwhile the collapse in the US Treasury curve continued</strong>, <strong>with 2s10s moving below 60bps, and screaming inversion as soon as early next year.&nbsp; </strong>At the same time, The gap between French and German borrowing costs on Tuesday narrowed to its tightest level since before the euro zone debt crisis of 2010-2012.&nbsp; Germany’s 10-year yield fell two basis points to 0.34%, the lowest in almost two weeks. Britain’s 10-year yield decreased four basis points to 1.257%, the lowest in almost two weeks. Japan’s 10-year yield dipped one basis point to 0.033%, the lowest in more than a week.</p> <p>Oil prices rose on expectations of an extended OPEC-led production cut, although rising output in the United States capped gains. Brent crude futures were up 0.78 percent to $62.72. &nbsp;&nbsp;&nbsp; West Texas Intermediate crude fell 0.6 percent to $56.09 a barrel. Gold increased 0.3 percent to $1,280.39 an ounce. Copper gained 0.3 percent to $3.13 a pound, the highest in more than a week.</p> <p>Expected economic data include Chicago Fed National Activity Index and existing home sales. Companies including Medtronic, Lowe’s, Salesforce, Analog Devices, HP Enterprise and HP Inc. are reporting earnings</p> <p><strong>Bulletin Headline Summary from RanSquawk</strong></p> <ul> <li>EU bourses firmer this morning with auto names racing away amid a positive note from Goldman Sachs</li> <li>FX price action fairly tepid thus far.</li> <li>Looking ahead, highlights include US existing home sales, APIs, ECB’s Coeure and Fed’s Yellen</li> </ul> <p><strong>Market Snapshot</strong></p> <ul> <li>S&amp;P 500 futures up 0.2% at 2,586.75</li> <li>STOXX Europe 600 up 0.3% at 387.49</li> <li>MSCI Asia up 0.9% to 171.57</li> <li>MSCI Asia ex Japan up 1.1% to 565.37</li> <li>Nikkei up 0.7% to 22,416.48</li> <li>Topix up 0.7% to 1,771.13</li> <li>Hang Seng Index up 1.9% to 29,818.07</li> <li>Shanghai Composite up 0.5% to 3,410.50</li> <li>Sensex up 0.4% to 33,492.20</li> <li>Australia S&amp;P/ASX 200 up 0.3% to 5,963.52</li> <li>Kospi up 0.1% to 2,530.70</li> <li>German 10Y yield fell 1.7 bps to 0.346%</li> <li>Euro down 0.08% to $1.1724</li> <li>Italian 10Y yield fell 2.7 bps to 1.543%</li> <li>Spanish 10Y yield fell 2.4 bps to 1.491%</li> <li>Brent futures up 0.8% to $62.69/bbl</li> <li>Gold spot up 0.3% to $1,280.53</li> <li>U.S. Dollar Index little changed at 94.08</li> </ul> <p><strong>Top Overnight News</strong></p> <ul> <li>U.K. Prime Minister Theresa May won the backing of ministers on both sides of her divided cabinet to offer the European Union more money to break the Brexit talks deadlock; Barring some major breakthrough, global banks will implement their relocation plans early next year to guarantee they’re able to have new offices inside the EU running by the time the U.K. exits</li> <li>German Chancellor Angela Merkel said she’s ready to face voters again to break the country’s political stalemate, betting they won’t blame her for failed talks on forming a coalition</li> <li>Germany: FDP chairman reaffirms rejection of four-party talks; SPD reiterates they will not be part of a grand coalition </li> <li>Putin held a surprise meeting with Syria’s Bashar al-Assad, kicking off a diplomatic drive this week to outline the terms of an end to the Middle Eastern country’s civil war; Putin will speak by phone with Trump later Tuesday, the Kremlin said</li> <li>The ECB is likely to make multiple small adjustments to its guidance on monetary policy next year rather than any major change in language as it ends quantitative easing, according to euro-area officials familiar with the thinking of policy makers</li> <li>BOE: Cunliffe says CPI will peak in 4Q 2017, it’s possible to wait before tightening; McCafferty says equilibrium unemployment rate may be below 4.5% </li> <li>RBA’s Lowe: no strong case for a near-term adjustment in policy, more likely that next move in rates will be higher; increasingly likely that inflation will be subdued for some time yet </li> <li>MNI: PBOC deleveraging campaign may ease somewhat in 2018; PBOC will continue to manage currency and capital controls for at least another decade, according to people familiar </li> <li>Turkey Central Bank: has decided to provide all funding from its late liquidity window effective Wednesday, which will raise the weighted average cost of funding by 25bps</li> <li>Nestle Is Said to Be Among Potential Hain Celestial Suitors</li> <li>AT&amp;T, U.S. Prepare to Battle in Court Over Time Warner Merger</li> <li>Cannabis Grower Aurora Plans to Go Hostile With CanniMed Bid</li> <li>ECB Is Said Likely to Take Small Steps in QE Exit Guidance</li> </ul> <p><strong>Asian equity markets were higher across the board </strong>as the region took the impetus from the positive close on Wall St, with Nikkei 225 (+0.9%) underpinned as exporters benefitted from JPY weakness. The benchmark Japanese index briefly broke above the 22,500 level as stocks coat-tailed on the rebound in USD/JPY, with Toshiba reprieved from yesterday’s slump to sit among the biggest gainers. ASX 200 (+0.3%) also traded with broad-based optimism across its sectors albeit to a lesser extent and Chinese markets completed the upbeat picture following another significant liquidity operation by the PBoC, with the Hang Seng (+1.5%) leading on continued gains in its largest weighted stock Tencent which recently became a member of the exclusive USD 500bln market-cap-club. Finally, 10yr JGBs were relatively flat throughout the session with demand subdued by the broad positive risk tone and a tepid longer-dated enhanced liquidity auction, although a mild uptick was seen in late trade as prices broke above 151.00. PBoC injected CNY 130bln in 7-day reverse repos, CNY 40bln in 14-day reverse repos and CNY 10bln in 63-day reverse repos. Net of maturities, the injection was only CNY 10bn however. PBoC also set the CNY mid-point weaker at 6.6356 vs Prev. 6.6271. Elsewhere, the Japanese Government to cut 30 and 40 year JGB supply in FY 2018/2019.</p> <p><em>Top Japanese News;</em></p> <ul> <li>Top Fund Backs Tencent to Drive Hong Kong Index Even Higher</li> <li>China H Shares Jump to Two-Year High as Financial Firms Rally</li> <li>Richest Asian Banker Sees Once-in-Lifetime India Opportunity</li> <li>Turkey Lifts Bank-Funding Costs as Lira Weakens to All-Time Low</li> </ul> <p><strong>European equities modestly higher this morning (Stoxx 600 +0.2%), </strong>with positive notes out from Goldman Sachs, who are overweight European automakers.&nbsp; Goldman said in a Europe strategy note that “deep value sectors” (autos, oil, and utilities) will help Stoxx Europe to return 12% in next 12 months. As a result, European automakers outperform led by VW for a second straight day, with the SXAP index advancing as much as 1.9%, best of 19 groups on the Stoxx Europe 600 benchmark (Volkswagen +3.8%, Porsche +2.7%, BMW +2%, Daimler +1.7%).&nbsp; Additionally, Imperial Brand shares rallied after their CEO change, as analysts speculate that this could increase the likelihood that the company will be taken over by Japan Tobacco. Airliner EasyJet is flying high this morning following strong financial results. Bunds are taking another look at 163.00+ levels having faded rallies above the big figure on several occasions recently. The bullish fundamentals and flow/positioning motives are well known and documented, but chart-wise market contacts note that support around 162.86 (rising trendline and Monday’s late Eurex base) held on the downside, prompting some intraday buying for a bounce to&nbsp; 163.06 resistance initially and then 163.16 (yesterday’s session peak) vs a high so far at 163.15. Beyond that, 163.22 needs to be breached to expose 163.40 and this month’s 163.63 peak. However, another retreat and failure to retain grasp of the 163.00 handle will bring 162.82 back into play as support (Monday’s actual intraday low), and on a break those short term longs not booking profit at 163.06 are expected to bail. Turning to Gilts, more upside also seen and a return to the 125-plus zone, at 125.29 for a 33 tick gain on the day vs 12 tick loss at one stage, before easing back slightly on larger than forecast UK PSNB shortfalls.</p> <p><em>Top European News</em></p> <ul> <li>Brexit-Hit Banks Said to Start Moving Staff Abroad in Early 2018</li> <li>Paris, Amsterdam Brexit Winners as Coin Toss Assigns EU Agencies</li> <li>May Prepares New Brexit Offer After Talks With Ministers</li> <li>U.K. Budget Deficit Widens as Inflation Boosts Debt Costs</li> <li>Uniper Tells Shareholders to Reject Fortum’s Takeover Offer</li> <li>EasyJet Reaping Benefit of Ryanair Retreat as Winter Prices Gain</li> </ul> <p><strong>In FX markets, </strong>price action has been relatively contained thus far. The USD index is firmer around the 94.000 handle in thin holiday-impacted trade, with the USD gaining ground vs most major counterparts on a generally more risk-on mood. EUR has been resilient in the face of Germany’s struggles to form a new Government and the threat of another election. EUR/USD continues to find support ahead of stops around 1.1720 and bids at 1.1700, with reported fixing demand in Asia propping the pair, but the 100 DMA around 1.1745-50 capping recovery gains. Elsewhere, AUD has rebounded from overnight lows post-RBA minutes, as Governor Lowe underlined that the next move in rates will be up, although the lead time to any tightening remains lengthy. Meanwhile, GBP was unreactive to the latest public borrowing data as markets look to see whether or not PM May will get the green-light for an enhanced divorce bill offer to the EU.</p> <p><strong>In commodities, </strong>WTI and Brent crude futures have continued to climb through the European session with energy related newsflow on the light-side as prices retrace some of the declines seen in the early stages of yesterday’s session. Energy markets are looking ahead to next week’s OPEC meeting, however, markets are firmly expecting an extension to existing production cuts in lieu of recent rhetoric from the cartel. In metals markets, gold only managed to nurse some of yesterday’s losses overnight as a broad positive risk tone kept safe-haven demand subdued. Copper maintained most of the prior session’s gains with prices supported by the risk appetite and amid gains in Chinese steel and iron ore prices on optimism for increased demand following the winter season.</p> <p><strong>Looking at the day ahead, </strong>central bank speakers will likely be the centre of attention again with Fed Chair Yellen due to speak in the evening as part of a series with former BoE governor Mervyn King, while the ECB’s Coeure chairs a panel in Frankfurt in the afternoon. Datawise, UK public sector net borrowing and CBI trends data for October and November are due, while in the US the Chicago Fed national activity index and existing home sales data for October is due.</p> <p><strong>US Event Calendar</strong></p> <ul> <li>8:30am: Chicago Fed Nat Activity Index, est. 0.2, prior 0.2</li> <li>10am: Existing Home Sales, est. 5.4m, prior 5.39m</li> <li>10am: Existing Home Sales MoM, est. 0.19%, prior 0.7%</li> <li>6pm: Fed’s Yellen Speaks at Stern Business School</li> </ul> <p><strong>DB's Jim Reid concludes the overnight wrap</strong></p> <p>There wasn't much contagion yesterday after the surprise collapse in German coalition talks late on Sunday night. Over the last couple of years negative market reaction to political shocks has often been over before you can digest it fully. Examples being the Greek and Brexit referendums and the Trump election results. Although the German coalition talks collapsing is much lower key than these events, it was still interesting that the DAX was only negative for 1 hour 16mins and that the Euro had snapped back into positive territory 37 minutes earlier even if it&nbsp; did soften again as the day progressed closing -0.49% against the dollar. The DAX closed +0.50% (high to low had been as much as +1.23%) and the Stoxx 600 +0.67% (range 0.91%).</p> <p>Overall it’s hard to see what the solution is to the gridlock in Germany but it’s also hard to see it being that negative for markets other than at the margin. Mrs Merkel yesterday effectively ruled out a minority government and the SPD continue to rule out a return to a Grand Coalition so unless talks can be reignited, a snap election early next year seems increasingly likely. As an outsider not as familiar with the German election process as many of my readers I can't help wondering how a fresh election will help much with recent polls seemingly not changing that much from the September 24th election. However, perhaps the campaigning would persuade enough voters to change their mind that the coalition math might be easier. Unlikely but possible.</p> <p>The good news from our economists in Germany is that the political system means there's no power vacuum and thus no time pressure to progress things. This probably helped prevent the market reacting too negatively yesterday although it can’t be too positive at the margin for Brexit talks and for fresh Macron/ Merkel European initiatives in the near-term. For more on the technicalities and options open now see the note "Coalition talks collapsed - unchartered territory ahead" from our German economists yesterday.</p> <p>Overnight, the Fed’s Yellen has confirmed that she will be stepping down from the Board of Governors once Mr Powell is sworn into the office. Her vacancy will give President Trump a fourth spot to fill in the new Fed, including the Vice Chairman spot. Elsewhere, Trump has redesignated North Korea as a state sponsor of terrorism and the Treasury department is&nbsp; expected to announce additional sanctions today. Notably, Secretary of State Tillerson “still hopes for diplomacy” with the State. We wonder whether North Korea will retaliate with some form of defiance after this so watch out for that. This morning in Asia, markets have followed the positive lead from the US. The Hang Seng (+1.30%), Nikkei (+0.93%), Kospi (+0.15%) and Shanghai Comp (+0.40%) are all up as we type.</p> <p>Turning to Brexit headlines, it seems that in addition to the stalemate on UK’s financial settlement to the EU, there are other unresolved issues before talks can move onto trade and a transition deal. Chief EU Brexit negotiator Barnier has noted that the Irish border will require a specific solution and it’s up to “those who wanted Brexit” to come up with those solutions.&nbsp; Elsewhere, he has warned “the legal consequence of Brexit is that the UK financial services providers lose their passport (rights to the EU bloc)”. Also press reports last night suggested that PM May has cabinet approval to double the settlement offer from the current EUR20bln.</p> <p>Moving onto central bankers’ commentaries now. The ECB’s Draghi reiterated that despite the sound economic recovery, “underlying inflation pressures are still subdued as labour market&nbsp; slack remains significant….(and that we) still need time to translate into dynamic wage growth”. On non-performing loans in the EU bloc, he cautioned that we need to “…work together to cope with this problem….but at the same time doesn’t create the destabilizing effects that people fear”. On Brexit, he noted it was difficult to properly analyse, mainly because “we don’t have yet a precise or even imprecise view of what the negotiating platform will be”. Notably, he said that the Brexit “transition can be managed in a smooth way…but it should be done without compromising over the integrity of the single market”, although “this is easier to be said than done”. </p> <p>Following on, BOE policy maker Mr Ramsden has warned that Brexit could put the economy in an “unusual” slow down for years. He noted “given the long horizon over which the effects of Brexit could play out, we’re likely to be on the flat part of the saucer for some time”. On his decision to dissent on the recent rate hike, he noted there may be more room for the economy to grow without price gains, noting “…one must pay close attention to any signs that above target inflation is feeding through to second-round effects in domestic costs…so far, that doesn’t seem to be the case”.</p> <p>Now recapping other markets performance from yesterday. US equities all strengthened, with both the S&amp;P and Nasdaq up c0.1% and Dow up 0.31%. Within the S&amp;P, telco (+0.97%) and financials stocks rebounded and led the gains, with partial offsets from health care and utilities names. European markets were all modestly higher despite the German political instability.&nbsp; Across the region, the Stoxx 600 (+0.67%), DAX (+0.50%) and CAC (+0.40%) rose modestly, while the FTSE 100 was the relative underperformer (+0.12%). The modest risk on bias was evident in volatility measures, with the VIX down for the third consecutive day (-6.8% to 10.65) while the VSTOXX also fell -7.05% after spending only 43 minutes higher at the open.</p> <p>Over in government bonds, core bond yields were mixed but little changed (UST 10y: +2.3bp; Bunds +0.2bp; Gilts -0.3bp), while peripherals outperformed with Italy and Spanish yields down 3-4bp. Elsewhere, the flattening across the Treasury curve has continued with the 5s30s curve c3bp flatter to 68.8bp, marking a fresh 10 year low.</p> <p>Turning to currencies, the US dollar index and Sterling gained 0.44% and 0.12% respectively, while Euro fell 0.49% following the aforementioned developments in Germany. In commodities, WTI oil dipped 0.58%, in part as investors await potential confirmation of production cuts in the upcoming OPEC meeting on 30th November. Elsewhere, precious metals weakened (Gold&nbsp; -1.20%;Silver -2.30%), with Gold down the most since late September, while other base metals were mixed (Copper +0.91%; Zinc -0.06%; Aluminium -1.44%).</p> <p>Away from the markets, DB’s China research team have published another note looking at China’s macro risks. They have noticed new signs of a tightening in fiscal and monetary policies over the past week. For example, on the fiscal front, the Ministry of Finance issued a document to tighten control over public private partnership projects. On monetary front, the&nbsp; government released draft guidelines on the asset management sector, which from a macro perspective could structurally constrain financial leverage and further tighten credit growth. Overall, the team believes these new measures are positive for China in the long term, but in the next 6 months they will likely cause the economy to slow. <br />Elsewhere the latest ECB holdings were released yesterday. Net CSPP</p> <p>purchases last week was €2.33bn and Net PSPP purchases €12.27bn. This left the CSPP/PSPP ratio at 19.0% last week (15.4% over the last 4 weeks vs. 11.5% before QE was trimmed in April 2017). Although we don’t think CSPP will be trimmed much after the January taper last week’s buying seemed anomalous in part as issuance was high over the period and the ECB may have taken advantage of this, particularly as the upcoming holiday season might bring liquidity challenges later on.</p> <p>Moving to the limited macro data releases from yesterday. In the US, the October Conference board leading index was above expectations at 1.2% mom (vs. 0.8% expected) and 5.2% yoy - the highest since May 2015. In Germany, the October PPI was in line at 0.3% mom and 2.7% yoy. In Japan, we saw a trade surplus of JPY323bn in October, which was modestly larger than expected. </p> <p>Looking at the day ahead, central bank speakers will likely be the centre of attention again with Fed Chair Yellen due to speak late in the evening as part of a series with former BoE governor Mervyn King, while the ECB’s Coeure chairs a panel in Frankfurt in the afternoon. Datawise, UK public sector net borrowing and CBI trends data for October and November are due, while in the US the Chicago Fed national activity index and existing home sales data for October is due.</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="700" height="394" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/trader%20looking%20at%20screen_18.jpg?1511264556" /> </div> </div> </div> http://www.zerohedge.com/news/2017-11-21/bonds-futures-global-stocks-all-rise-boosted-germanys-brexit-moment-tsy-curve-collap#comments 2s10s 2s10s 2s10s. ASX 200 Australian Dollar Bank of England Board of Governors BOE Bond Borrowing Costs Brexit Brexit negotiations Budget Deficit Business Chicago Fed Chicago Fed Nat Activity Chicago Fed national activity China Conference Board Copper CPI Crude Daimler DAX 30 Deutsche Börse Economy Economy of the European Union Equity Markets Europe European Central Bank European Central Bank European Union European Union European Union Eurozone Federal Reserve flash FTSE 100 German government Germany Gilts goldman sachs Goldman Sachs Grand Coalition Hang Seng 40 headlines Hong Kong India Italy Janet Yellen Japan Japanese government Jim Reid Mervyn King Ministry of Finance Monetary Policy Monetary policy NASDAQ Nikkei Nikkei 225 non-performing loans North Korea OPEC Organization of Petroleum-Exporting Countries People's Bank of China Porsche Precious Metals Price Action Quantitative Easing Quantitative easing recovery Reserve Bank of Australia S&P S&P 500 S&P/ASX 200 STOXX Stoxx 600 SXAP Time Warner Treasury Department Turkey Turkey Central Bank U.S. Treasury Unemployment US Dollar Index US Federal Reserve Volatility Volkswagen West Texas Withdrawal from the European Union Tue, 21 Nov 2017 12:05:00 +0000 Tyler Durden 607647 at http://www.zerohedge.com Ignore Merkel And Brexit: According To Bill Blain, A New Threat Can Bring Europe Crashing Down http://www.zerohedge.com/news/2017-11-21/ignore-merkel-and-brexit-according-bill-blain-new-threat-can-bring-europe-crashing-d <p><em>Blain's Morning Porridge, Submitted by Bill Blain of <a href="http://www.mintpartners.com">Mint Partners</a></em><a href="http://www.mintpartners.com"></a></p> <p><span style="text-decoration: underline;"><strong>Europe is like a 4D game of Jenga, and Germany is a very wobbly block - as are the banks</strong></span></p> <p>Europe is an enormous 4 dimensional game of Jenga.&nbsp; At the moment there are far too many blocks in play. Some of them are likely to leave the edifice teetering but standing. The question is: will any cause it to tumble? </p> <p><strong>Top of the wobbly blocks list is Merkel – what happens next in Germany? </strong>The CDU’s disastrous shift left has opened the door for the extreme right, and has fractured her own support. </p> <p>Merkel’s survivability is questionable. In her wake, all efforts to rejig Europe via closer union and monetary/fiscal harmonisation via banking union are absolutely on hold while the German constitutional crisis (yep, for that is what it is) plays out. </p> <p>Markets don’t seem particularly worried – they have become blasé about political risk and look to the upside of Germany’s apparent rosy and robust financial strength. What’s not to like about Germany?&nbsp; What can possibly go wrong – it regards the current Merkel issue as a short-medium term minor concern. Get over it. </p> <p>On a purely German basis they might be right. The critical thing for Europe is who follows Mutti?</p> <p>Merkel’s threats to call another vote rather than continue coalition talks looks like bluster – sounds like she’s trying to scare the opposition parties into a deal rather than go through the uncertainty of&nbsp; second election. If it comes to a second vote, it’s another miscalculation. </p> <p><strong>The question being asked yesterday was “who replaces her?” She’s been inordinately successful ensuring all upcoming potential political rivals were snuffed out, but one name I heard from two good sources is Jens Spahn. If you’ve never heard about him (and since he’s a German politician you probably haven’t), <a href="https://www.nytimes.com/2017/11/03/opinion/merkel-spahn-christian-democrats.html">this lays out where he’s coming from</a>. </strong></p> <p>Clearly I have no right to speculate on what happens in German politics when UK politics is such a mess. However, I am indebted to my colleague Steve Previs for pointing out the similarities between the UK and Germany. </p> <p>Spot the difference and who said what: “<strong>No deal is better than a bad deal” </strong>and “<strong>No coalition is better than a bad coalition”. </strong></p> <p><strong>Of course, Brexit is the second wobbly Jenga block. May is looking likely to up her divorce offer – which will further destabilise her own position but might force recalcitrant Europeans to notice. I doubt it. </strong>They are currently looking to the East.. not the West. Ahead of tomorrow’s UK budget, there is some interesting stuff in the papers about how European budget spending will have to be slashed post-Brexit. The pain will be felt across the European soft-underbelly!&nbsp; </p> <p><strong>But the wobbliest Jenga Block might remain the European financial system – and I don’t mean moving the EBA to Paris</strong>. (Good luck to them. After all, the French government would never ever be overly cosy with banks… would it..? </p> <p><strong>The latest wizard wheeze from the ECB is a real sweetie… according to a discussion paper published by the ECB last week on revision the Union’s crisis management framework; if a bank looks wobbly, then: “covered deposits and claims under investor compensation” should be replaced by “discretionary exemptions”. </strong></p> <p>Crashing minor chords.</p> <p><strong>The issue of German liability for the new European deposit insurance scheme (EDIS) was one of the issues that caused the coalition talks to fail: </strong>no Germans politician wants associated with policies that would mean paying the liabilities of Italian banks!&nbsp; </p> <p>It might be even more confusing. <strong>Has the ECB just turned the basis of finance on its topsy-turvy head - again? If you’ve been buying covered bonds issued by undercapitalised, over-NPL’d European banks – then worry</strong>. By putting “covered deposits” in the firing line, covered bonds lose secured status and look subject to the same bail-in **** and all the other uncertainty the ECB leaves in its wake. Pfanbriefe anyone? Suckers!&nbsp; </p> <p>And getting rid of depositor credit insurance? What a marvellous idea. It certainly fits with the European dream.. You know the one: how Europe would work much better if there just weren’t any pesky complaining citizens to worry about. Why not just Europeanise the whole European banking sector, take everyone’s money and give it to French farmers and Brussels Eurocrats? </p> <p>It would be much simpler.</p> <p>Of course it’s all about the Germans refusing to bail out feckless foreign types.. (Of course it is.. everything in Europe is about the Germans..) It’s a carrot and stick approach to solving the Italian bank conundrum – if they reduce NPLs, then the ECB will graciously bail depositors via the EDIS. Otherwise, the Germans aren’t going to give them access.&nbsp; </p> <p>The ECB knows best. (Which is to do what the Germans tell it to do…)</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="427" height="263" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/draghi%20mad_0.png?1511262361" /> </div> </div> </div> http://www.zerohedge.com/news/2017-11-21/ignore-merkel-and-brexit-according-bill-blain-new-threat-can-bring-europe-crashing-d#comments Aftermath of the United Kingdom European Union membership referendum Angela Merkel Banking union Brexit Europe European Central Bank European Central Bank European System of Central Banks European Union Eurozone Fail French government Germany Withdrawal from the European Union Tue, 21 Nov 2017 11:10:00 +0000 Tyler Durden 607646 at http://www.zerohedge.com Millions Upon Millions of Americans Have “Negative” Wealth http://www.zerohedge.com/news/2017-11-20/millions-upon-millions-americans-have-%E2%80%9Cnegative%E2%80%9D-wealth <p><a href="https://www.sprottmoney.com/Blog/millions-upon-millions-of-americans-have-negative-wealth-rory-hall.html"><br /></a><a href="https://www.sprottmoney.com/Blog/millions-upon-millions-of-americans-have-negative-wealth-rory-hall.html"></a></p> <h1><a href="https://www.sprottmoney.com/Blog/millions-upon-millions-of-americans-have-negative-wealth-rory-hall.html"><span style="text-decoration: underline; color: #3366ff;"><em><strong>Millions Upon Millions of Americans Have “Negative” Wealth</strong></em></span></a></h1> <p><a href="https://www.sprottmoney.com/Blog/millions-upon-millions-of-americans-have-negative-wealth-rory-hall.html"><span style="text-decoration: underline; color: #3366ff;"><em><strong>Posted with permission and written by Rory Hall, The Daily Coin</strong></em></span></a></p> <p>&nbsp;</p> <p>&nbsp;</p> <div class="post-thumbnail"> <img src="https://sprottmoney.com/media/magpleasure/mpblog/post_thumbnail_file/e/7/cache/1/ece9a24a761836a70934a998c163f8c8/e74fddaeebed169905e3482372d79f34.jpg" alt="Millions Upon Millions of Americans Have “Negative” Wealth - Rory Hall" class="thumbnail" /> </div> <div class="mp-content std fix-me"></div> <div class="mp-content std fix-me"> <p>While <a href="http://thedailycoin.org/2017/11/10/bill-gates-jeff-bezos-warren-buffett-money-poorest-50-u-s-population-combined/" target="_blank" rel="noopener">3 Americans possess more wealth than 50% of the combined poorest</a>, we now learn that 20% of ALL Americans have zero or negative wealth. I presume by having “negative wealth” they have lived beyond their means for so long their debt burden is all they have to show for their life – very sad that people allow themselves to be put in that position. </p> <p>&nbsp;</p> <p>The wealth inequality in America is largely the function of the Federal Reserve system that operates through the U.S. Treasury. Without this mechanism of wealth transference the current wealth imbalance would not exist – it would be almost impossible to have the number of “millionaires”, “billionaires” that currently roam the earth. These people would still be wealthy, but their wealth wouldn’t be completely out of balance with the mass of people. </p> <p>&nbsp;</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p> Millions of Americans are living on the edge. </p></blockquote> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p> One in five households has zero or negative wealth, according to a report released this week by the Institute for Policy Studies, a progressive think tank based in Washington, D.C. What’s more, an even greater share of African-American (30%) and Latino (27%) households are “underwater” financially. The combined impact of <a href="https://www.marketwatch.com/story/us-households-will-soon-have-as-much-debt-as-they-had-in-2008-2017-04-03" class="icon none">$1 trillion in credit-card debt</a>, <a href="https://www.marketwatch.com/story/john-grisham-discusses-the-student-debt-crisis-that-inspired-his-latest-novel-2017-10-24" class="icon none">$1.4 trillion in student loan debt</a>, and stagnant wages are taking a toll. </p></blockquote> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p> U.S. homes have regained value since the Great Recession, but many households have not. “Millions of American families struggle with zero or negative wealth, meaning they owe more than they own,” the report found. “This means that they have nothing to fall back on if an unexpected expense comes up like a broken down car or illness.” And inequality could get worse through new tax cuts for the wealthy. <a href="https://www.marketwatch.com/story/one-in-five-american-households-have-zero-or-negative-wealth-2017-11-11" target="_blank" rel="noopener">Source</a></p></blockquote> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p></p></blockquote> <p>The mainstream media, once again, plays their role in keeping people ignorant. Instead telling people the truth about <em>U.S. homes have regained value since the Great Recession</em> and calling it what it is – massive inflation on the edge of hyperinflation – it is played off as some type of benefit for the mass of people – it is not. It is a benefit for the top 0.01% only as they already own, outright, their land, their businesses and our land and businesses. If a person purchased a home 20 years ago for $50k and today that home would sell for $2mm where would that person be able to replace their home, in the same neighborhood, and realize that gain? It wouldn’t happen. This is not an increase in value; it is simply inflation. </p> <p>&nbsp;</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p> President Trump’s tax proposals won’t give America’s middle class the reprieve they need to grow their wealth and recover from the financial crash, said Josh Hoxie, who heads up the Project on Opportunity and Taxation at the Institute for Policy Studies. A recent analysis by the <a href="https://www.jct.gov/publications.html?func=startdown&amp;id=5029" target="_new" class="icon ">Joint Committee on Taxation</a> concluded that taxes would decline for all income groups, with the biggest percentage-point decline for millionaires. <a href="https://www.marketwatch.com/story/one-in-five-american-households-have-zero-or-negative-wealth-2017-11-11" target="_blank" rel="noopener">Source</a></p></blockquote> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p></p></blockquote> <p>The current tax proposals, like past tax proposals, are for the wealthy to further strip-mine the poor. Having 3 people with more wealth than 50% of the poorest is not good enough – we need to have 3 people with more wealth than 75% of the poorest – that’s progress!! </p> <p>&nbsp;</p> <p>On the other hand we see <a href="http://www.shadowstats.com/alternate_data/inflation-charts" target="_blank" rel="noopener">the other form of “hidden theft” – Inflation</a>. We are beginning to see the cracks in the economy become cavernous while inflation continues to rise chewing up any hope of savings the poor could possibly amass. It’s like a trifecta of wealth transference. </p> <p>&nbsp;</p> <p>With more pay-day-loan shops (loan sharks) popping up everyday, it seems the system is going to continue to exploit and strip the poor of whatever wealth they currently possess. As I stated at the beginning of this article, it is simply the Federal Reserve system doing exactly what it is was designed to do – shift the wealth of the many to the few and with the Federal Reserve Note past its peak and headed to the dustbin of history. The transfer of wealth, it seems, has adapted a particular sense of urgency. </p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><em style="box-sizing: border-box; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit;"><span style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20.3333px; line-height: 17.3333px; font-family: &quot;Lucida Grande&quot;, Verdana, sans-serif;">Questions or comments about this article? Leave your thoughts <a href="https://www.sprottmoney.com/Blog/millions-upon-millions-of-americans-have-negative-wealth-rory-hall.html"><span style="text-decoration: underline;"><strong>HERE</strong></span></a>.</span></em></p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <h1><a href="https://www.sprottmoney.com/Blog/millions-upon-millions-of-americans-have-negative-wealth-rory-hall.html"><span style="text-decoration: underline; color: #3366ff;"><em><strong>Millions Upon Millions of Americans Have “Negative” Wealth</strong></em></span></a></h1> <p><a href="https://www.sprottmoney.com/Blog/millions-upon-millions-of-americans-have-negative-wealth-rory-hall.html"><span style="text-decoration: underline; color: #3366ff;"><em><strong>Posted with permission and written by Rory Hall, The Daily Coin</strong></em></span></a></p></div> http://www.zerohedge.com/news/2017-11-20/millions-upon-millions-americans-have-%E2%80%9Cnegative%E2%80%9D-wealth#comments Business Distribution of wealth Economic inequality Economic inequality in the United States Economy Federal Reserve Great Recession Hyperinflation Inflation Institute for Policy Studies Joint Committee on Taxation Millionaire Recession Social inequality Structure Tax U.S. Treasury United States US Federal Reserve Washington D.C. Wealth World Tue, 21 Nov 2017 11:00:27 +0000 Sprott Money 607622 at http://www.zerohedge.com Putin Holds Surprise Meeting With Assad, Will Call Trump By Phone Later Tuesday http://www.zerohedge.com/news/2017-11-21/putin-holds-surprise-meeting-assad-will-call-trump-phone-later-tuesday <p>One day before meeting with the leaders of Iran and Turkey in the Black Sea resort of Sochi, Russian President Vladimir Putin held a surprise meeting with his Syrian counterpart, Bashar al-Assad, kicking off a diplomatic drive this week to outline the terms of an end to the Middle Eastern country’s bloody civil war. The two leaders discussed the political process in Syria, with the Russian leader saying that the fight against terrorism in the crisis-stricken country is close to completion. Perhaps even more notably, Putin said he would speak by phone with President Donald Trump later Tuesday.</p> <p>Assad’s visit, which wasn’t publicly announced until the following day, echoed a similar trip to Russia that he made in 2015 shortly after Putin launched his air and ground campaign in Syria. The campaign turned the tide in the war in favor of the embattled Syrian president, whom western nations have long sought to see removed.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/putin%20assad%201.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/putin%20assad%201_0.jpg" width="500" height="281" /></a></p> <p>Following a two-year Russian intervention in the region, which has resulted in the defeat of the Islamic State in Syria and the preservation of the Assad regime, the Kremlin is moving on to bring together regional and global powers to revive long-stalled efforts to reach a settlement expected to cement the Syrian president in power. Following the meeting with al-Assad, putin will meet with Erdogan and Rouhani on Wednesday to discuss the political resolution to the Syrian civil war. The Kremlin said he held talks with the Emir of Qatar on Monday, <a href="https://www.bloomberg.com/news/articles/2017-11-21/putin-to-speak-with-trump-on-syria-after-meeting-assad-in-sochi">Bloomberg reported</a>.</p> <p>Assad’s visit to Russia and his talks with the Russian president lasted four hours, Kremlin spokesman Dmitry Peskov told journalists on Tuesday, RIA Novosti reports. </p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/putin%20assad%202.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/putin%20assad%202_0.jpg" width="500" height="281" /></a></p> <p>“The most important question of course is what will happen after the defeat of the terrorists in terms of a peaceful political settlement,” Putin told Assad during their meeting in Sochi, noting the Syrian leader’s support for a Russia-backed peace plan, according to a Kremlin <a href="http://www.kremlin.ru/events/president/news/56135">transcript</a>.</p> <p>In the Tuesday meeting, Putin congratulated Assad on the results in the fight against terrorism; during his trip to Sochi, the Syrian president became acquainted with the heads of the Russian military. The Russian leader discussed the political settlement in Syria with al-Assad, saying that he believes it should be under the aegis of the UN, adding that he hopes the international body will take an active part in the process and its final stage.</p> <p>Putin presented Assad to the military commanders who led Russia’s effort. “I want to introduce to you the people who played a decisive role in saving Syria,” Putin said.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/5a13eb62fc7e9358238b456a.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/5a13eb62fc7e9358238b456a_0.jpg" width="500" height="281" /></a></p> <p>“Today, on behalf of the Syrian people, I extend my gratitude to you for what you did,” Assad said. “We will never forget it.”</p> <p>Expressing thanks for Russia’s role, Assad said the time is right for negotiations, “especially after we attained victory” over the government’s opponents. He added: “We’re counting on Russia’s support to ensure the non-intervention of outside players in the political process, so that their role is to support the efforts of the Syrians themselves." He added that he hoped for Russia’s help in ensuring that the Syrians themselves lead the process, with help from the outside, but not “interference.” “We welcome those who are really interested in a political settlement [in Syria], we are ready to have dialogue with them."</p> <p><iframe src="https://www.youtube.com/embed/cud49a8vYAk" width="500" height="281" frameborder="0"></iframe></p> <p>According to the Russian president, “the problem of terrorism is a global one.” He added that “complete victory over terrorism is still very far away. But as far as our joint fight against terrorists in Syria is concerned, this military operation is really coming to an end.” Putin also said he will meet Turkish President Recep Tayyip Erdogan and Iranian President Hassan Rouhani in Sochi on Wednesday to discuss the Syrian crisis. <strong>Apart from these countries, Russia is working with Iraq, the US, Egypt, Saudi Arabia, and Jordan on settling the crisis, he stated. Putin added that on Tuesday he will hold a phone conversation with US President Donald Trump on the topic of Syria.</strong></p> <p>According to <a href="https://www.bloomberg.com/news/articles/2017-11-21/putin-to-speak-with-trump-on-syria-after-meeting-assad-in-sochi">Bloomberg</a>, Putin’s triumphant tone underscores his success in turning the tables on the U.S., which under Trump’s Democratic predecessor Barack Obama pressed for Assad’s removal and came close in 2013 to ordering strikes on Syria in retaliation for a chemical attack blamed on the regime. Six and a half years after an uprising in Syria morphed into a regional proxy war and terrorist conflict that killed 400,000 and displaced millions, Russia’s Syrian ally is now looking for a stamp of international legitimacy</p> <p>Russia has been working actively with Saudi Arabia and other backers of Assad’s opponents such as Turkey to restart the peace process. On Wednesday, the Saudi government hosts a meeting in Riyadh of opposition groups that aims to combine them into a single delegation for peace talks in Geneva.</p> <p>The unified bloc, including factions less hostile to Assad, would be a “tame” counterparty for the Syrian regime at the negotiating table, said Robert Ford, a former U.S. ambassador to Syria who’s now a fellow at Yale University and the Middle East Institute in Washington.</p> <p>Meanwhile, in another surprising development, on Monday former Syrian prime minister Riad Hijab, who defected and headed the main Western-backed opposition group for the past two years, resigned without giving any explanation, according to a statement on his official Twitter account. </p> <blockquote class="twitter-tweet"><p dir="ltr" lang="und"><a href="https://t.co/ABKr0w8ga3">pic.twitter.com/ABKr0w8ga3</a></p> <p>— ?.???? ???? (@MediaPmoffice) <a href="https://twitter.com/MediaPmoffice/status/932664731457937409?ref_src=twsrc%5Etfw">November 20, 2017</a></p></blockquote> <script src="https://platform.twitter.com/widgets.js"></script><p>AS BBG adds, Hijab’s High Negotiations Committee earlier this month refused to attend the Russian-led peace conference between Assad and opposition groups in Sochi, saying it was usurping the role of long-stalled negotiations in Geneva chaired by the United Nations. Ironically, the Russia-centered organization appears to have achieved more for Syrian military descalation in two years than the UN could do in more than six.&nbsp; Russia has now revived the proposal for the Sochi meeting, which is expected to take place soon.</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="899" height="460" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/putin%20assad%20teaser.jpg?1511258949" /> </div> </div> </div> http://www.zerohedge.com/news/2017-11-21/putin-holds-surprise-meeting-assad-will-call-trump-phone-later-tuesday#comments Assad family Barack Obama Bashar al-Assad black sea Donald Trump Ford Foreign involvement in the Syrian Civil War Government Hijab’s High Negotiations Committee International reactions to the Syrian Civil War International relations Iran Iraq Middle East Middle East Institute in Washington Politics Politics of Syria Russian involvement in the Syrian Civil War Russian military Saudi Arabia Saudi government Syria Syrian Civil War Turkey Twitter Twitter United Nations Vladimir Putin Vladimir Putin Yale University Tue, 21 Nov 2017 10:13:00 +0000 Tyler Durden 607645 at http://www.zerohedge.com Who's Worse For The Environment: Merkel Or Trump? http://www.zerohedge.com/news/2017-11-20/whos-worse-environment-merkel-or-trump <p><a href="https://www.themaven.net/mishtalk/economics/who-s-worse-for-the-environment-merkel-or-trump-35dqYK0-HUSPuMgk4hEQYA"><em>Authored by Mike Shedlock via themaven.net/mishtalk,</em></a></p> <p><strong>Who has a worse track record on the environment:</strong> <em>President Trump or German Chancellor Angela Merkel?</em></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/11/19/20171120_merk.jpg"><img height="347" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/11/19/20171120_merk_0.jpg" width="600" /></a></p> <p>Let&#39;s investigate.<span class="ads">&nbsp;</span></p> <div class="renderable markdown"> <div> <div> <h3><u><strong>Trump Stance and Results</strong></u></h3> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>On September 19, amid chatter that Trump might reverse his climate stance, CNBC reported <a href="https://www.cnbc.com/2017/09/19/trump-is-not-reversing-on-paris-agreement-heres-why.html">Trump is still pulling out of Paris Agreement</a>.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>One day ago the LA Times reported <a href="http://beta.latimes.com/world/europe/la-fg-germany-climate-change-20171117-story.html">As Trump administration touts coal at U.N</a> U.S. cities and states target climate change.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Politico commented just today on <a href="https://www.politico.com/story/2017/11/18/trump-climate-talks-bonn-paris-247677">How the Bonn climate talks survived Trump</a>.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>It&#39;s Politico&#39;s subtitle that carries the bang: &quot;<em>The White House sparked a furor by pushing coal, but U.S. negotiators largely stayed the course from the 2015 Paris deal</em>.&quot;</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Thus, despite all the bluster, and no matter which side of the debate you are on, not much has changed in the US regarding the climate debate.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>Merkel Stance and Results</strong></u></h3> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Merkel preaches adherence to the Paris climate-change goals, but her policies do nothing to meet them according to a Eurointelligence report on November 16.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div> <p>Jasper von Altenbockum points out the monumental hypocrisy of Angela Merkel&#39;s environmental policies - in the context of her speech at yesterday&#39;s climate summit in Bonn. Emmanuel Macron was able to commit France to exiting coal-powered energy in 2020. The reason he is in a position to do so is France&#39;s long-standing reliance on nuclear energy. Germany cannot do the same because Merkel herself insisted on the country&#39;s exit from nuclear power, as a result of which the country continues to rely on coal. So, Germany got it the wrong way around. This is why we are in the absurd situation where Merkel lambasts Donald Trump for pulling out of the Paris accord, while she herself is not taking the necessary action to meet her pledges under the accord.</p> <p>&nbsp;</p> <p>Altenbockum makes the point that Germany&#39;s energy policy is a total mess, with dozens of reforms all interacting with one another in mysterious ways. There is no way that Germany can meet the various threshold targets for 2030 and 2050. The reason, as a he points out, is that Germany&#39;s entire industrial structure - notably the car industry - is incompatible with the goals of the Paris climate accord. In other words, Germany has very similar problems with the Paris climate goals to the US&#39;, with the only difference that Germany pretends to adhere to them while the US does not.</p> </blockquote> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>Germany&#39;s Climate Change Hypocrisy</strong></u></h3> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>On the 17th, Eurointelligence offered this expanded edition, in relation to the collapsed coalition talks with between CDU/CSU, the Greens, and FDP (emphasis mine):</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div> <p>One of the things that became absolutely apparent during the German coalition talks is that the CDU, CSU and FDP are pursing a climate change policy very similar to that of Donald Trump.<em>The only real difference with Trump is that the latter was more honest about it, by pulling out of the Paris Accord altogether</em>.</p> <p>&nbsp;</p> <p>Germany is currently on course of missing all its climate targets, both in the near term (for 2020) and in the longer term (for 2030). And Merkel suffered a huge diplomatic setback yesterday at the global climate summit in Bonn, where the German government was confronted by an initiative of 20 other countries including the UK, France, Italy, and Canada, to commit to an exit from coal-fuelled power stations. Canada gets most of its energy from wind power. The UK is committed to an exit by 2025, but coal currently only constitutes 15% of its total energy supply. The UK will expand its gas-power and nuclear sectors.</p> <p>&nbsp;</p> <p>Germany&#39;s dilemma is, of course, the result of Merkel&#39;s decision to phase out nuclear energy by 2022 before phasing out coal, as well as the large share of the manufacturing industry in its total economic output. At the moment 40% of German energy supply is coal-based. The climate targets require either massive de-industrialisation, or a shift in attitudes towards nuclear energy.</p> </blockquote> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>Climate Change Fight</strong></u></h3> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Also from today, Bloomberg reports <a href="https://www.bloomberg.com/news/articles/2017-11-18/coal-returns-as-flashpoint-in-global-climate-change-fight">Coal Back as Flashpoint in Climate-Change Fight</a> after Germany and Poland come out in support of dirtiest fossil fuel.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div> <p>Coal emerged as the surprise winner from two weeks of international climate talks in Germany, with leaders of the host country and neighboring Poland joining Donald Trump in support of the dirtiest fossil fuel.</p> <p>&nbsp;</p> <p>While more than 20 nations, led by Britain and Canada, pledged to stop burning coal, German Chancellor Angela Merkel defended her country&rsquo;s use of the fuel and the need to preserve jobs in the industry. Meanwhile Poland&rsquo;s continued and extensive use of coal raised concerns that the next meeting, to be held in the nation&rsquo;s mining heartland of Katowice, could thwart progress.</p> </blockquote> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>Coal Energy Share</strong></u></h3> <p><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/11/19/20171120_merk1.jpg" style="width: 599px; height: 273px;" /></p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>US vs EU</strong></u></h3> </div> </div> </div> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/11/19/20171120_merk2.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/11/19/20171120_merk2_0.jpg" style="width: 600px; height: 723px;" /></a></p> <div class="renderable markdown"> <div> <div> <p>Those numbers are from 2015, taken from the October 2016 Energy Matters article <a href="http://euanmearns.com/primary-energy-in-the-european-union-and-usa-compared/">Primary Energy in The European Union and USA Compared</a>.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>EU energy production from coal in 2015 was 20% vs 22% in the USA . Germany is at 40%, and rising.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>Jobs from Coal</strong></u></h3> </div> </div> </div> <p>The US can create more jobs from coal without using any more coal.</p> <div class="renderable markdown"> <div> <div> <p>How?</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Please consider <a href="https://www.reuters.com/article/us-usa-coal-exports/u-s-coal-exports-soar-in-boost-to-trump-energy-agenda-data-shows-idUSKBN1AD0DU">U.S. Coal Exports Soar, in Boost to Trump Energy Agenda</a>.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div> <p>U.S. coal exports have jumped more than 60 percent this year due to soaring demand from Europe and Asia, according to a Reuters review of government data, allowing President Donald Trump&rsquo;s administration to claim that efforts to revive the battered industry are working.</p> <p>&nbsp;</p> <p>The increased shipments came as the European Union and other U.S. allies heaped criticism on the Trump administration for its rejection of the Paris Climate Accord, a deal agreed by nearly 200 countries to cut carbon emissions from the burning of fossil fuels like coal.</p> </blockquote> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>Europe&#39;s Largest Coal-Fired Plant</strong></u></h3> </div> </div> </div> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/11/19/20171120_merk3.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/11/19/20171120_merk3_0.jpg" style="width: 600px; height: 318px;" /></a></p> <div class="renderable markdown"> <div> <div> <h3><u><strong>Don&#39;t Blame Trump For This</strong></u></h3> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Deutsche Welle reports <a href="http://www.dw.com/en/us-poland-energy-deal-bucks-anti-coal-trend/a-41419864">US-Poland energy deal bucks anti-coal trend</a>.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>&quot;Polish coal trader Weglokoks is due to get its first ever shipment of US coal after Donald Trump has promised Poland&rsquo;s pro-coal government US energy. The move comes as 19 nations signed a coal phase-out deal.&quot;</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Nineteen UE nations signed an accord to phase out coal. Germany and Poland did not sign.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Germany is probably one of the safest places to use nuclear power unlike Japan&#39;s earthquake-prone region.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>But Merkel bowed to pressure to phase out nuclear energy. That means German use of coal will be on the rise.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Can you blame Trump for being willing to ship US coal to Europe?</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>CO2 vs Other Pollutants</strong></u></h3> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Concern over carbon dioxide (CO2) is more than overblown in my opinion. Other concerns are not.</p> <p>Coal is the leading source of sulfur dioxide (SO2), a smelly, acid-rain producing pollutant. Coal also produces Nitrogen Oxide (NOx) pollutants, which can burn lung tissue and exacerbate asthma.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Coal also releases mercury and fly-ash particulate matter. Mercury causes brain damage (think of the Mad Hatter), and particulates obstruct visibility while contributing to chronic bronchitis, aggravated asthma, and premature death.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Even if one thinks global warming is a scam, there are numerous reasons to be concerned about coal.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>Diesel vs Gasoline</strong></u></h3> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>The debate over diesel vs gasoline goes on and on. A couple of points are generally agreed on. The first is that diesel produces slightly less CO2. The second is that other contaminants in diesel are worse.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Here is an excerpt from a Conversation Fact Check: <a href="http://theconversation.com/fact-check-are-diesel-cars-really-more-polluting-than-petrol-cars-76241">Fact Check: are diesel cars really more polluting than petrol cars?</a></p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div> <p>The near EU-wide plan to encourage people to buy diesel vehicles in the past number of years is another example of the lack of connection between air pollution policy and climate change policy, and the difficulties of considering CO? emissions separately to the many other thousands of compounds that human activities emit. Replacing petrol cars with diesel ones does result in lower CO? emissions and climate impacts but it has clearly been worse for human health.</p> </blockquote> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>Alone on Diesel</strong></u></h3> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>There is only one country left promoting diesel: Germany.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Not only is Germany far behind on gasoline engines, it is far behind when it comes to electric engine capacity.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>And recall where German electricity is from: coal.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Nonetheless, Merkel has the gall to criticize Trump over the environment while the EU imports US coal.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <h3><u><strong>Peak Merkel</strong></u></h3> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>Peak Merkel has long ago come and gone. It happened with the refugee crisis.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p>She may not survive this mess. If the Greens and CSU fail to come to terms, new German elections may be in the works.</p> </div> </div> </div> <div class="renderable markdown"> <div> <div> <p><em>For details please see <a href="https://www.themaven.net/mishtalk/politics/hurricane-over-germany-coalition-on-verge-of-collapse-new-elections-CURChD0jv0WuRlnHK7vyWg">Hurricane Over Germany: Coalition on Verge of Collapse, New Elections?</a></em></p> </div> </div> </div> <p>&nbsp;</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="659" height="381" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20171120_merk.jpg?1511183754" /> </div> </div> </div> http://www.zerohedge.com/news/2017-11-20/whos-worse-environment-merkel-or-trump#comments Angela Merkel Carbon Emissions Climate change Climate change mitigation Climate change policy Coal Coal phase-out Coalition on Verge of Collapse Donald Trump Donald Trump’s administration Emissions reduction Energy Energy policy Environment European Union European Union Fail Fossil fuel phase-out Fossil fuel power station France German government Germany Global Warming Italy Japan Natural environment Nuclear Power Poland Reuters Total Mess Trump Administration White House White House Tue, 21 Nov 2017 09:55:00 +0000 Tyler Durden 607578 at http://www.zerohedge.com Bitcoin Tumbles Then Rebounds After Hackers Steal $31 Million Tethers http://www.zerohedge.com/news/2017-11-21/bitcoin-smashed-400-then-recovers-after-hackers-steal-31-million-tokens <p>The rise in Bitcoin&rsquo;s price was approaching &quot;warp speed&quot; above $8,200 overnight when, as so often happens, it went into another sharp reversal. After hitting an intra-day high of almost $8,265 in early trading on Tuesday, the price crashed more than $400 to $7,827, its biggest drop since November 13. This time it wasn&rsquo;t another Dimon-esque rant, or the prospect of another fork (technically, these are bullish) <strong>but an old-fashioned theft in another cryptocurrency, Tether</strong>. Tether is a controversial crpto-business which provides a wallet service allowing crypto exchanges to store and convert fiat currencies to &quot;safe&quot; tokens (not to be confused with an ICO token) and vice versa.</p> <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">So the price of <a href="https://twitter.com/search?q=%24BTCUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTCUSD</a> dropped almost $500 on the <a href="https://twitter.com/hashtag/Tether?src=hash&amp;ref_src=twsrc%5Etfw">#Tether</a> hack news. If YOU decided to panic sell your <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> (or <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a>) for <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> please explain your logic. I would love to hear it ???? <a href="https://t.co/79AtmgGbRo">pic.twitter.com/79AtmgGbRo</a></p> <p>&mdash; Tone Vays [#HODL] (@ToneVays) <a href="https://twitter.com/ToneVays/status/932840753155526661?ref_src=twsrc%5Etfw">November 21, 2017</a></p></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>Tether has a market cap of roughly $673 million and is the world&rsquo;s nineteenth largest cryptocurrency, based Coinmarketcap.com data. Regarding the theft, Tether alleges that $31MM of USDT tokens (Tethers trading at parity with the dollar) were stolen on 19 November 2017.</p> <p>From the <a href="https://tether.to/tether-critical-announcement/">Tether press release:</a></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>Tether Critical Announcement </strong></p> <p>&nbsp;</p> <p>Yesterday, we discovered that funds were improperly removed from the Tether treasury wallet through <strong>malicious action by an external attacker</strong>. Tether integrators must take immediate action, as discussed below, to prevent further ecosystem disruption.</p> <p>&nbsp;</p> <p>$<strong>30,950,010 USDT was removed from the Tether Treasury wallet on November 19, 2017 and sent to an unauthorized bitcoin address</strong>. As Tether is the issuer of the USDT managed asset, we will not redeem any of the stolen tokens, and we are in the process of attempting token recovery to prevent them from entering the broader ecosystem. The attacker is holding funds in the following address: 16tg2RJuEPtZooy18Wxn2me2RhUdC94N7r. If you receive any USDT tokens from the above address, or from any downstream address that receives these tokens, do not accept them, as they have been flagged and will not be redeemable by Tether for USD.&nbsp;</p> </blockquote> <p>What is especially troubling, is how easy it was - in retrospect - to &quot;steal&quot; over $30MM worth of cryptos and send them on to a &quot;non-extradition&quot; address. As per Tether&rsquo;s announcement, the $31MM was simply sent to &quot;an unauthorised Bitcoin address.&quot; While likely futile, the company took steps to recover the loast money: as <a href="http://techcrunch.com/2017/11/20/tether-claims-a-hacker-stole-31m/?ncid=mobilerecirc_recent">The Crunch </a>reports:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>In response Tether said it has flagged the tokens &mdash; meaning that it will track them and prevent the holder from exchanging them through its service &mdash; and that it is working to recover them. For partners, the back-end wallet service has been suspended. Tether said it will investigate the incident while it rolls out an update to Omni Core &mdash; its software for partners &mdash; that will prevent the stolen coins from recirculating into its ecosystem by essentially locking them into the alleged hacker&rsquo;s wallet.</p> </blockquote> <p>Where things begin to get murky, is the extent to which there may or may not be a relationship between Tether and another controversial player in the cryptocurrency space, Bitfinex. The latter is the major crypto exchange which was famously hacked in 2016, after which the Bitcoin price fell 20%. The Crunch notes that some crypto players are already expressing concern about a potential &ldquo;inside job&rdquo;.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>One of the partners that uses Tether is crypto exchange Bitfinex, which itself lost 119,756 bitcoin &mdash; then worth $72 million but valued at over $950 million today &mdash; in a hack over a year ago. As Coindesk reports, the incident is sure to throw up more questions about the relationship between Tether and the secretive exchange Bitfinex. The duo are rumored to share owners, and have been accused of leaning on each other to manipulate the market. Already, there are theories circulating that suggest this new attack could be an inside job.</p> </blockquote> <p>This latest hit to Bitcoin is likely to prompt more discussion of the relative advantages of gold versus Bitcoin. In a recent <a href="http://www.zerohedge.com/news/2017-11-20/gold-versus-bitcoin-pro-gold-argument-takes-shape">post</a> On Zero Hedge, John Rubino cited an article on the Risk Hedge website <a href="http://www.riskhedge.com/post/all-reasons-cryptocurrencies-will-never-replace-gold-your-financial-hedge">&ldquo;All the Reasons Cryptocurrencies Will Never Replace Gold as Your Financial Hedge&rdquo;</a> in which security was highlighted as one of the key risks for cryptos.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>#4: Lack of Security Undermines Cryptocurrencies&rsquo; Effectiveness. </strong></p> <p>&nbsp;</p> <p>Security is a major drawback facing the cryptocurrency community. It seems that every other month, there is some news of a major hack involving a Bitcoin exchange.&nbsp; In the past few months, the relatively new cryptocurrency Ether has been a target for hackers. The combined total amount stolen has almost reached $82 million.</p> <p>&nbsp;</p> <p>Bitcoin, of course, has been the largest target. Based on current prices, just one robbery that took place in 2011 resulted in the hackers taking hold of over $3.7 billion worth of bitcoin&mdash;a staggering figure. With security issues surrounding cryptocurrencies still not fully rectified, their capability as an effective hedge is compromised. When was the last time you heard of a gold depository being robbed? Not to mention the fact that most depositories have full insurance coverage.</p> </blockquote> <p>In another recent <a href="http://www.zerohedge.com/news/2017-11-20/doomsday-preppers-are-switching-allegiance-gold-bitcoin">post</a>, &ldquo;Doomsday Preppers Are Switching Allegiance From Gold To Bitcoin&rdquo;, the issue of security was also prominently discussed. However, for preppers, the main issue was what would happen if the grid failed. As we&rsquo;ve suggested, it&rsquo;s hardly surprising given Bitcoin&rsquo;s performance that investors and preppers alike have switched their allegiance towards the pre-eminent crypto-currency. However, more events like this, will only add to the view that there is a place in portfolios (and bunkers) for both. After Bitcoin topped $8200 yesterday, we noted the following amusing comment from currency brokerage ForexTime.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;I find it remarkable and somewhat frightening how, no matter how much Bitcoin is pummeled by sellers, it simply bounces back even stronger.&rdquo;</strong></p> </blockquote> <p>We&rsquo;re not there yet, but the price is already closing in on the pre-theft record high of $8,300 as we write.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/bitcoin%20theft.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/11/18/bitcoin%20theft_0.jpg" style="width: 500px; height: 281px;" /></a></p> <p>And, as <a href="https://www.bloomberg.com/news/articles/2017-11-21/bitcoin-falls-after-31-million-theft-of-cryptocurrency-tether">Bloomberg adds</a>, the incident is the latest in a long list of hacks which while denting confidence in the security of cryptocurrencies, &quot;<strong>typically have fleeting market impact:</strong> bitcoin has surged to one record after another during the past few years despite major thefts from exchanges including Bitfinex and Mt. Gox.&quot;</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="800" height="450" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/bitcoin%20theft.jpg?1511256949" /> </div> </div> </div> http://www.zerohedge.com/news/2017-11-21/bitcoin-smashed-400-then-recovers-after-hackers-steal-31-million-tokens#comments Alternative currencies Bitcoin Bitcoin Bitfinex Blockchains CoinDesk Cryptocurrencies Cryptography Decentralization Digital currency exchange Draft:Tether Finance Financial technology Legality of bitcoin by country or territory Money Mt. Gox recovery Twitter Twitter Uberisation Tue, 21 Nov 2017 09:40:22 +0000 Tyler Durden 607644 at http://www.zerohedge.com Charlie Rose Accused By 8 Women Of Nudity, 'Groping' And Lewd Phone Calls http://www.zerohedge.com/news/2017-11-20/charlie-rose-accused-8-women-nudity-groping-and-lewd-phone-calls <p><span style="text-decoration: underline;"><strong>Update 2 (6:39pm EST)</strong></span>:&nbsp; Following his suspension from both CBS and PBS, Charlie Rose has just issued the following statement admitting that he has "<strong>behaved insensitively at times" </strong>which has left him <strong>"<strong>greatly embarrassed."</strong></strong> Here is Rose's full statement:</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p>In my 45 years of journalism,<strong> I have prided myself on being an advocate for the careers of the women</strong> with whom I have worked. Nevertheless, in the past few days, claims have been made about my behavior toward some former female colleagues.</p> <p>&nbsp;</p> <p>It's essential that these women know I hear them and that<strong> I deeply apologize for my inappropriate behavior. I am greatly embarrassed. I have behaved insensitively at times, and I accept responsibility for that,</strong> though I do not believe that all of these allegations are accurate. I always felt that I was pursuing shared feelings, even though I now realize I was mistaken.</p> <p>&nbsp;</p> <p>I have learned a great deal as a result of these events, and I hope others will too. All of us, including me, are coming to a newer and deeper recognition of the pain caused by conduct in the past, and have come to a profound new respect for women and their lives.</p> </blockquote> <blockquote class="twitter-tweet"><p dir="ltr" lang="en">My statement in full. <a href="https://t.co/3kvFrqF2dT">pic.twitter.com/3kvFrqF2dT</a></p> <p>— Charlie Rose (@charlierose) <a href="https://twitter.com/charlierose/status/932747035069034496?ref_src=twsrc%5Etfw">November 20, 2017</a></p></blockquote> <script src="https://platform.twitter.com/widgets.js"></script><p>* * *</p> <p><strong>Update 1: </strong>As we expected, PBS and CBS News have reportedly suspended Charlie Rose following the allegations that he sexually harassed eight women in the workplace...</p> <p>PBS, which airs Rose’s self-titled interview program, said Monday they were suspending the production of the show and will halt scheduled airings.</p> <p>CBS News also announced Rose would be suspended from their network after news of the allegations broke. Rose is a co-host the network’s morning show, “CBS This Morning” and is a contributing correspondent to its newsmagazine “60 Minutes.”</p> <p>Seeing as Rose's days as a preeminent TV news reporter may be coming to an end, this video has been making the rounds on Twitter, in which Rose can be seen groping his"CBS This Morning" co-host Norah O'Donnell...</p> <p>&nbsp;</p> <blockquote class="twitter-tweet"><p dir="ltr" lang="en">FLASHBACK <a href="https://twitter.com/CBSThisMorning?ref_src=twsrc%5Etfw">@CBSThisMorning</a> from 04/21/16 -&gt; <a href="https://twitter.com/charlierose?ref_src=twsrc%5Etfw">@CharlieRose</a> offers to spank <a href="https://twitter.com/NorahODonnell?ref_src=twsrc%5Etfw">@NorahODonnell</a> after watching a viral video on a spanking lemur <a href="https://twitter.com/hashtag/TTT?src=hash&amp;ref_src=twsrc%5Etfw">#TTT</a> <a href="https://t.co/i1oP1HS9eo">pic.twitter.com/i1oP1HS9eo</a></p> <p>— Curtis Houck (@CurtisHouck) <a href="https://twitter.com/CurtisHouck/status/932731666472357888?ref_src=twsrc%5Etfw">November 20, 2017</a></p></blockquote> <script src="https://platform.twitter.com/widgets.js"></script><p>* * *</p> <p>It seems like not a day goes by without new allegations of sexual abuse or harassment being levied against a major figure in media or entertainment – and Monday was no exception.</p> <p>Earlier in the day, the New York Times announced it would suspend White House reporter Glenn Thrush following reports that he harassed and propositioned young female reporters working with him at Politico and the Times.</p> <p>And just minutes ago, the <a href="https://www.washingtonpost.com/investigations/eight-women-say-charlie-rose-sexually-harassed-them--with-nudity-groping-and-lewd-calls/2017/11/20/9b168de8-caec-11e7-8321-481fd63f174d_story.html?utm_term=.5a69fe55738f">Washington Post</a><span style="text-decoration: underline;"> <strong>reported that eight women have come forward to accuse legendary Emmy-winning broadcast journalist Charlie Rose made unwanted sexual advances toward them, including lewd phone calls, walking around naked in their presence, and groping their breasts, butts or generals.</strong></span></p> <p>The women were either employees or aspired to work for Rose at “the Charlie Rose Show”. The alleged harassment spans from the late 1990s to as recently as 2011. The women ranged in age between 21 to 37 at the time the harassment took place. Rose, 75, has a show that airs on PBS. He also co-hosts “CBS This Morning” and is a contributing correspondent at “60 Minutes”.</p> <p>His PBS show also airs on Bloomberg TV.</p> <p>According to WaPo, there are striking commonalities in the accounts of the women. For all of the women, reporters interviewed friends, colleagues or family members who said the women had confided in them about aspects of the incidents. Three of the eight spoke on the record. Five of the alleged victims spoke on the condition of anonymity out of fear of Rose’s stature in the industry, his power over their careers and his notoriously volatile temper.<br />Rose supplied a rambling statement to the Post where he acknowledged that some of his behavior may have been untoward…</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p><strong>“In my 45 years in journalism, I have prided myself on being an advocate for the careers of the women with whom I have worked,” Rose said in a statement provided to The Post. “Nevertheless, in the past few days, claims have been made about my behavior toward some former female colleagues.</strong></p> <p>&nbsp;</p> <p>“It is essential that these women know I hear them and that I deeply apologize for my inappropriate behavior. I am greatly embarrassed. I have behaved insensitively at times, and I accept responsibility for that, though I do not believe that all of these allegations are accurate. I always felt that I was pursuing shared feelings, even though I now realize I was mistaken.</p> <p>&nbsp;</p> <p>“I have learned a great deal as a result of these events, and I hope others will too. All of us, including me, are coming to a newer and deeper recognition of the pain caused by conduct in the past, and have come to a profound new respect for women and their lives.”</p> </blockquote> <p>Most of the women said Rose alternated between fury and flattery in his interactions with them. Five described Rose putting his hand on their legs, sometimes their upper thigh, in what they said seemed like a test to gauge their reactions. Two said that while they were working for Rose at his residences or were traveling with him on business, he emerged from the shower and walked naked in front of them. One said he groped her buttocks at a staff party.</p> <p>One woman, Reah Bravo was an intern and then associate producer for Rose’s PBS show beginning in 2007. In interviews, she described unwanted sexual advances while working for Rose at his private waterfront estate in Bellport New York, and while traveling with him in cars, in a hotel suite and on a private plane.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/11/20/201711.20rose.JPG"><img src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/11/20/201711.20rose_0.JPG" style="width: 500px; height: 207px;" /></a></p> <p><strong>“It has taken 10 years and a fierce moment of cultural reckoning for me to understand these moments for what they were,” she told The Post. “He was a sexual predator, and I was his victim.”</strong></p> <p>Kyle Godfrey-Ryan, one of Rose’s assistants in the mid-2000s, recalled at least a dozen instances where Rose walked nude in front of her while she worked in one of his New York City homes. He also repeatedly called the then-21-year-old late at night or early in the morning to describe his fantasies of her swimming naked in the Bellport pool as he watched from his bedroom, she said.</p> <p>“It feels branded into me, the details of it,” Godfrey-Ryan said.</p> <p>The women also described how Rose’s staff brushed off their complaints about his behavior as “just Charlie being Charlie”…</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p>She said she told Yvette Vega, Rose’s longtime executive producer, about the calls.</p> <p>&nbsp;</p> <p><strong>“I explained how he inappropriately spoke to me during those times,” Godfrey-Ryan said. “She would just shrug and just say, ‘That’s just Charlie being Charlie.’ ”</strong></p> <p>&nbsp;</p> <p>In a statement to The Post, Vega said she should have done more to protect the young women on the show.</p> <p>&nbsp;</p> <p><strong>“I should have stood up for them,” said Vega, 52, who has worked with Rose since the show was created in 1991.<span style="text-decoration: underline;"> “I failed. It is crushing. I deeply regret not helping them.”</span></strong></p> </blockquote> <p>One woman said Rose fired her after learning that she had confided in a friend about his behavior.</p> <p>In its lengthy story about the accusations, WaPo delves into minute detail about all of the accusers’ experiences. We now wait to see if PBS will suspend or fire Rose, or if the TV host will voluntarily take a leave of absence to seek “treatment” as so many of his peers have done.</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="800" height="331" alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/201711.20rose.JPG?1511216311" /> </div> </div> </div> http://www.zerohedge.com/news/2017-11-20/charlie-rose-accused-8-women-nudity-groping-and-lewd-phone-calls#comments CBS Charlie Rose Entertainment Feminism Human behavior Human sexuality New York City New York Times PBS Sexual harassment Television Television in the United States Twitter Twitter White House White House Tue, 21 Nov 2017 09:32:00 +0000 Tyler Durden 607626 at http://www.zerohedge.com Former Obama Admin Official Offers To Buy Weinstein Co. For $275 Million http://www.zerohedge.com/news/2017-11-20/former-obama-admin-official-offers-buy-weinstein-co-275-million <p><strong>One former Obama administration official is trying to engineer a feminist takeover of Weinstein Co.,</strong> the embattled &ldquo;mini-major&rdquo; Hollywood studio that has been spiraling toward bankruptcy since one of its founders, Harvey Weinstein, was exposed for a decades long history of sexual harassment and assault.</p> <p>According to <a href="https://www.reuters.com/article/us-usa-fed-goldman-sachs/goldman-sachs-sees-fed-raising-rates-four-times-in-2018-idUSKBN1DK04C">Reuters</a>, Maria Contreras-Sweet, the former head of the Small Business Administration between 2014 and 2017, has offered to acquire Weinstein Co., a spokeswoman for the U.S. film and TV studio said on Sunday.</p> <p><strong>A consortium of investors assembled by Contreras-Sweet has put together an offer of $275 million to buy the embattled studio,</strong> which has seen revenues plunge since the name Weinstein became synonymous with Hollywood&rsquo;s coercive, predatory culture. Presently, both the LAPD and NYPD have suggested that they&rsquo;re nearly ready to indict Weinstein for a host of sex crimes, including at least two rapes.</p> <p>Weinstein Co. has had difficulty securing short-term financing, which is one reason why its owners would probably be amenable to such a generous bid. <strong>Talks to secure a $35 million lifeline from Fortress Co. last month fell apart. And though the studio did secure a cash injection from Thomas Barrick Jr.&rsquo;s Colony Capital, the firm ultimately backed away from a deal to purchase most of Weinstein Co.&rsquo;s major assets.</strong></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/11/20/2017.11.20weinstein.JPG"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/11/20/2017.11.20weinstein_0.JPG" style="width: 500px; height: 225px;" /></a></p> <p><em>Maria Contreras-Sweet</em></p> <p>Contreras-Sweet&rsquo;s bid comes after the movie studio secured a $20 million cash infusion from the sale of the children&rsquo;s movie &ldquo;Paddington 2&rdquo; last week to Warner Brothers Pictures, a unit of Time Warner Inc. The Weinstein Co.&rsquo;s co-chairman Harvey Weinstein stepped down last month following sexual assault allegations.</p> <p>So far, at least 84 women have accused Weinstein of harassment, groping and assault, all of which took place over the last three decades. <strong>Worse still, a story published earlier in this month by the New Yorker delved into Weinstein&rsquo;s practice of hiring private security contractors to intimidate his victims into remaining silent.</strong></p> <p>In a brilliant twist that would help ameliorate much of the stigma surrounding the studio and its legacy, Contreras-Sweet&rsquo;s plan calls for installing a majority-female board at The Weinstein Co. Her offer includes an approximately $30 million fund for the alleged victims of Harvey Weinstein, the source added. The fund would be set up through a mediation process, according to the source.</p> <p>The spokeswoman for the Weinstein Co. didn&rsquo;t comment on the details of the offer it received. A spokesman for Contreras-Sweet declined to comment.</p> <p>US President Barack Obama in 2014 selected Contreras-Sweet as the head of the SBA, which makes loans to small businesses and helps them get government contracts. <strong>She had previously founded ProAmerica Bank, a Latino-owned community bank in Los Angeles, which focuses on lending to small- and medium-sized Latino businesses.&nbsp; The SBA is now run by Trump appointee Linda McMahon.</strong></p> <p>Contreras-Sweet&rsquo;s offer is more than generous, especially considering that Goldman Sachs, which owned a small equity stake in the studio, recently marked its holdings down to zero, reflecting the view that the studio and its assets have become toxic in the wake of the Weinstein scandal.</p> <p><strong>The proceeds from the &ldquo;Paddington 2&rdquo; sale will enable the Weinstein Co to continue to operate until January, the source said. Investment firm Fortress Investment Group LLC was considering lending to the film and TV studio, but those talks ended without a deal earlier this month.</strong></p> <p>More than 20 other potential bidders are analyzing The Weinstein Co&rsquo;s financial data, the source said. The studio has $375 million in debt, including a $45 million loan from AI International Holdings Limited, an affiliate of billionaire Len Blavatnik&rsquo;s industrial group Access Industries, the person said. Much of the debt is backed by the company&rsquo;s film and TV assets.</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="665" height="299" alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017.11.20weinstein.JPG?1511182624" /> </div> </div> </div> http://www.zerohedge.com/news/2017-11-20/former-obama-admin-official-offers-buy-weinstein-co-275-million#comments Barack Obama Business Cinema of the United States Colony Capital Colony NorthStar English-language films Film Fortress Investment Group goldman sachs Goldman Sachs Harvey Weinstein Hoodwinked! Len Blavatnik Major film studio Maria Contreras-Sweet Obama Administration Obama administration Paddington 2 Reuters Small Business Administration The Weinstein Company Time Warner Weinstein Tue, 21 Nov 2017 09:20:00 +0000 Tyler Durden 607576 at http://www.zerohedge.com Visualizing The Massive Rise In UK MP Security Costs Since Jo Cox' Murder http://www.zerohedge.com/news/2017-11-20/visualizing-massive-rise-uk-mp-security-costs-jo-cox-murder <p>Since the murder of MP Jo Cox last June as she was campaigning in her Batley and Spen constituency, <strong>the total expenses claimed by&nbsp;<a href="https://www.statista.com/topics/2385/members-of-parliament-mps-uk/" target="_blank">MPs&nbsp;</a>for security assistance have increased on a massive scale.</strong></p> <p><a href="https://www.statista.com/chart/11881/massive-rise-in-mp-security-costs-since-jo-cox-murder/" title="Infographic: Massive rise in MP security costs since Jo Cox murder | Statista"><img alt="Infographic: Massive rise in MP security costs since Jo Cox murder | Statista" height="428" src="https://infographic.statista.com/normal/chartoftheday_11881_massive_rise_in_mp_security_costs_since_jo_cox_murder_n.jpg" width="600" /></a></p> <p><em>You will find more statistics at <a href="https://www.statista.com/">Statista</a></em></p> <p><a href="https://www.statista.com/chart/11881/massive-rise-in-mp-security-costs-since-jo-cox-murder/"><em>As Statista&#39;s Martin Armstrong details, </em></a>from 2010/11 to 2015/16, the mean annual total was &pound;73 thousand. In 2016/17 this rose to an astounding &pound;2.55 million.</p> <p>The&nbsp;<a href="http://www.theipsa.org.uk/mp-costs/other-published-data/" target="_blank">figures</a>, newly released by the Independent Parliamentary Standards Authority (IPSA) <strong>reflect the reaction to the shocking&nbsp;<a href="https://www.statista.com/chart/5058/attacks-on-uk-mps-while-in-office/" target="_blank">attack</a>.</strong></p> <p>In response, the<strong> IPSA has made it easier to get expenses, such as reinforced windows and bomb-proof letter boxes, signed off.</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="731" height="384" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20171120_cox.jpg?1511237217" /> </div> </div> </div> http://www.zerohedge.com/news/2017-11-20/visualizing-massive-rise-uk-mp-security-costs-jo-cox-murder#comments Batley Batley and Spen Counties of England Entertainment Independent Parliamentary Standards Authority Independent Parliamentary Standards Authority Jo Cox Martin Armstrong Parliament of the United Kingdom West Yorkshire Yorkshire Tue, 21 Nov 2017 08:45:00 +0000 Tyler Durden 607642 at http://www.zerohedge.com Journalist Sara Carter Destroys DOJ Attempt To Discredit FBI Informant And Stonewall Uranium One Investigation http://www.zerohedge.com/news/2017-11-21/journalist-sara-carter-destroys-doj-attempt-discredit-fbi-informant-and-stonewall-ur <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><em><span style="margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; color: #000000; text-transform: none; line-height: inherit; text-indent: 0px; letter-spacing: normal; font-family: lucida_granderegular, Verdana, sans-serif; font-size: 13px; font-style: inherit; font-variant: inherit; font-weight: inherit; word-spacing: 0px; vertical-align: baseline; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; font-stretch: inherit; text-decoration-style: initial; text-decoration-color: initial;">Content originally published at&nbsp;</span><span style="font: inherit; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; color: #1e439a; text-transform: none; text-indent: 0px; letter-spacing: normal; text-decoration: underline; word-spacing: 0px; vertical-align: baseline; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; font-stretch: inherit;"><a href="http://ibankcoin.com/" style="margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; color: #1e439a; line-height: 1.2; font-family: lucida_granderegular, Verdana, sans-serif; font-size: 13px; font-style: inherit; font-variant: inherit; font-weight: inherit; text-decoration: none; vertical-align: baseline; box-sizing: border-box; font-stretch: inherit;" target="_blank">iBankCoin.com</a></span></em></p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">Several weeks ago a bombshell report by John Solomon and Alison Spann of&nbsp;<a href="http://thehill.com/policy/national-security/355749-fbi-uncovered-russian-bribery-plot-before-obama-administration" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer"><em style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">The Hill</em></a>&nbsp;revealed that an undercover FBI informant embedded deep within the Russian nuclear industry had uncovered evidence as early as the fall of 2009 of a massive&nbsp;plot by Russia to corner the American Uranium market. Evidence of the scheme was in the hands of the FBI an entire year before the Obama administration approved the sale of Uranium One to Russia’s state-owned Energy giant, Rosatom – which has since been&nbsp;<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">exporting ‘yellowcake’ uranium to Canada, Europe and elsewhere&nbsp;<a href="http://thehill.com/policy/national-security/358339-uranium-one-deal-led-to-some-exports-to-europe-memos-show" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer">via a Kentuky&nbsp;trucking firm</a></strong>.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><a href="https://ibankcoin.com/zeropointnow/files/2017/11/c5fbed2f-575a-41bb-886e-f26700d43255-2060x1236-2.jpeg" style="text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal;"><img class="size-medium wp-image-12320" src="https://ibankcoin.com/zeropointnow/files/2017/11/c5fbed2f-575a-41bb-886e-f26700d43255-2060x1236-2-300x180.jpeg" height="180" width="300" style="outline: #72777c solid 1px; height: auto; float: right; max-width: 100%; resize: none;" /></a>Based on what the FBI knew – including evidence which purportedly includes a video of Russians preparing&nbsp;<em style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;"><a href="http://ibankcoin.com/zeropointnow/2017/11/17/fbi-informant-has-video-of-russian-agents-with-briefcases-of-bribe-money-in-clinton-uranium-scandal/#sthash.EqaqDfLP.dpbs" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer">briefcases of bribe money</a>&nbsp;</em>–&nbsp;<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">the deal never should have gone through</strong>. Moreover, both Robert Mueller and current deputy Attorney General Rod Rosenstein were directly involved – and current Attorney General Jeff Sessions and other Justice Department officials appear to be covering for them.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><span style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; text-decoration: underline; box-sizing: border-box;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Mueller’s FBI knew</strong></span><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">…</strong></p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">Key among the troubling revelations from<span>&nbsp;</span><em style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">The Hill&nbsp;</em>is&nbsp;the undercover informant’s claim that<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">&nbsp;Obama’s FBI, headed at the time by director&nbsp;<a href="http://ibankcoin.com/zeropointnow/files/2017/08/landscape-1501789989-mueller.jpg" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;">Robert Mueller</a>,</strong>&nbsp;knew that “<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Russian nuclear officials had routed millions of dollars to the U.S. designed to benefit former President&nbsp;<span class="rollover-people" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Bill Clinton</span>’s charitable foundation during the time Secretary of State&nbsp;<span class="rollover-people" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Hillary Clinton</span>&nbsp;served on a government body&nbsp;that provided a favorable decision to Moscow</strong>”&nbsp;– a deal which would eventually grant the Kremlin control over&nbsp;<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">20 percent of America’s uranium supply,&nbsp;</strong>as detailed by author Peter Schweitzer’s book&nbsp;<a href="https://www.amazon.com/Clinton-Cash-Foreign-Governments-Businesses/dp/0062369296" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer"><em style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Clinton Cash</em></a>&nbsp;and the&nbsp;<a href="https://www.nytimes.com/2015/04/24/us/cash-flowed-to-clinton-foundation-as-russians-pressed-for-control-of-uranium-company.html" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer">New York Times</a>&nbsp;in 2015.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">The FBI mole&nbsp;also gathered extensive evidence that&nbsp;<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Moscow had compromised an American uranium trucking firm, Transport Logistics International (TLI) in violation of the Foreign Corrupt Practices Act</strong>&nbsp;– engaging in a scheme of bribes and kickbacks involving the company which would have&nbsp;transported the U.S. uranium sold to Russia in the ’20 percent’ deal.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">“<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">The Russians were compromising American contractors in the nuclear industry with kickbacks and extortion threats, all of which raised legitimate national security concerns.</strong><span>&nbsp;</span>And<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;"><span>&nbsp;</span>none of that evidence got aired before the Obama administration made those decisions</strong>,” a person who worked on the case told The Hill, speaking on condition of anonymity for fear of retribution by U.S. or Russian officials." –<a href="http://thehill.com/policy/national-security/355749-fbi-uncovered-russian-bribery-plot-before-obama-administration" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer"><em style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">The Hill</em></a></p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">In short,<span>&nbsp;</span><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">the FBI had ample evidence of the Russian plot</strong>&nbsp;<em style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">before</strong></em><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;"><span>&nbsp;</span>the Obama administration approved the Uranium One deal.</strong></p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><span style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; text-decoration: underline; box-sizing: border-box;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Iron-Clad Gag Order Lifted</strong></span></p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">The FBI informant – outed five days ago as energy consultant William Campbell&nbsp;-was “<a href="http://www.foxnews.com/politics/2017/10/19/grassley-wants-gag-order-lifted-for-fbi-informant-allegedly-threatened-by-obama-doj.html" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer">threatened</a>” by Obama admin AG Loretta Lynch to keep quiet, according to his attorney – former Reagan Justice Dept. official and former Chief Counsel to the Senate Intelligence Committee Victoria Toensing. After Senate Judiciary Committee Chairman Chuck Grassley (R-VA) demanded Campbell be allowed to testify in front of Congress, the gag order was lifted.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Sessions And The DOJ are running Interference</strong></p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><a href="http://ibankcoin.com/zeropointnow/files/2017/02/jeff-sessions-feature-hero-2.jpg" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;"><img class="alignright size-medium wp-image-5803 tie-appear" src="http://ibankcoin.com/zeropointnow/files/2017/02/jeff-sessions-feature-hero-2-300x200.jpg" height="200" width="300" style="list-style: none; margin: 5px 0px 5px 25px; padding: 0px; border: 0px currentColor; transition: 0.4s ease-in-out; border-image: none; height: auto; vertical-align: middle; float: right; display: inline; max-width: 100%; box-sizing: border-box; opacity: 1;" /></a>In a move which can only be interpreted as an effort to protect the&nbsp;FBI, the Obama administration and the Clintons,&nbsp;<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">AG Jeff Sessions and several Justice Dept. officials have been casting&nbsp;doubt on the value of Campbell’s&nbsp;</strong><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">evidence, along with the need for a Special Counsel to investigate</strong>.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">Via John Solomon of&nbsp;<em style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;"><a href="http://thehill.com/homenews/administration/361276-fbi-informant-gathered-years-of-evidence-on-russian-push-for-us" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer">The Hill</a>:&nbsp;</em></p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">“both Attorney General&nbsp;<span class="rollover-people" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Jeff Sessions</span>&nbsp;in testimony last week and Deputy Attorney General Rod Rosenstein in a letter to the Senate last month<span>&nbsp;</span><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">tried to suggest there was no connection between Uranium One and the nuclear bribery case.</strong>Their argument was that the criminal charges weren’t filed until 2014, while the Committee of Foreign Investment in the United States (CFIUS) approval of the Uranium One sale occurred in October 2010.”</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;"><span style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; text-decoration: underline; box-sizing: border-box;">THIS IS A LIE</span><span>&nbsp;</span>– which has rubbed several Congressional republicans the wrong way:</strong></p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">“Attorney General Sessions seemed to say that the bribery, racketeering and money laundering offenses involving Tenex’s Vadim Mikerin occurred after the approval of the Uranium One deal by the Obama administration. But we know that the FBI’s confidential informant was actively compiling incriminating evidence as far back as 2009,”</strong>&nbsp;Rep. Ron DeSantis, (R-Fla.) told The Hill.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">“It is&nbsp;<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">hard to fathom how such a transaction could have been approved without the existence of the underlying corruption being disclosed.&nbsp;</strong>I hope AG Sessions gets briefed about the CI and gives the Uranium One case the scrutiny it deserves,” added DeSantis, whose House Oversight and Government Reform subcommittees is one of the investigating panels.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) sent a similar rebuke last week to Rosenstein, saying the deputy attorney general’s first response to the committee “largely missed the point” of the congressional investigations.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">“The essential question is whether the Obama Justice Department provided notice of the criminal activity of certain officials before the CFIUS approval of the Uranium One deal and other government decisions that enabled the Russians to trade nuclear materials in the U.S,”</strong>&nbsp;Grassley scolded."</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;"><span style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; text-decoration: underline; box-sizing: border-box;"><a href="http://ibankcoin.com/zeropointnow/files/2017/11/531.jpg" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;"><img class="alignright size-medium wp-image-12679 tie-appear" src="http://ibankcoin.com/zeropointnow/files/2017/11/531-300x169.jpg" height="169" width="300" style="list-style: none; margin: 5px 0px 5px 25px; padding: 0px; border: 0px currentColor; transition: 0.4s ease-in-out; border-image: none; height: auto; vertical-align: middle; float: right; display: inline; max-width: 100%; box-sizing: border-box; opacity: 1;" /></a>Meanwhile</span><span>&nbsp;</span>–<span>&nbsp;</span></strong>John Solomon and journalist Sara Carter&nbsp;<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">have copies of the FBI informant’s evidence</strong>, and Carter just annihilated&nbsp;the DOJ in an<span>&nbsp;</span><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;"><a href="https://saraacarter.com/2017/11/21/treasure-trove-of-documents-tying-russia-to-uranium-one/" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer">explosive report</a></strong>&nbsp;laying out the players, the timeline, and the evidence at hand.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">“<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">By the time the sale of Uranium One was approved by the Obama Administration, the FBI’s investigators had already gathered substantial evidence and the bureau was also aware of Russia’s intentions to enter the U.S. energy market and its desire to purchase a stake in American uranium,</strong>” Carter writes.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">Highlights:&nbsp;</strong></p> <ul style="color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"> <li>FBI mole William Campbell was a highly valued FBI asset - paid $51,000 by FBI officials at a celebration dinner in Chrystal City, VA, where Campbell's attorney says they thanked him for his service.</li> <li>Campbell&nbsp;<strong style="font-weight: bold !important;">was required by the Russians, under threat, to launder large sums of money -</strong>&nbsp;which allowed the FBI to uncover a&nbsp;<strong style="font-weight: bold !important;">massive Russian "nuclear money laundering apparatus"</strong></li> <li>Campbell collected over 5,000 documents and briefs over a six year period</li> <li>Campbell uncovered a Russian plot to penetrate the Obama administration and gain approval for the Uranium One sale, including a 2010 email which describes&nbsp;<strong style="font-weight: bold !important;">"Russia's intent on expanding&nbsp;its Uranium&nbsp;expansion in the United States."&nbsp;</strong></li> </ul> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; float: none; display: inline !important; white-space: normal; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">“The attached article is of interest as I believe it highlights the ongoing resolve in Russia to gradually and systematically acquire and control global energy resources,” said Fisk,<span>&nbsp;</span></span><strong style="color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px; font-style: normal; font-weight: bold !important; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">who titled the subject line of the email ‘Russian uranium.’</strong><span style="color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; float: none; display: inline !important; white-space: normal; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><span>&nbsp;</span>&nbsp;The article attached to Fisk’s email, was a Reuters report in June, 2010, titled<span>&nbsp;</span></span><strong style="color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px; font-style: normal; font-weight: bold !important; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">‘Despite price falls, ARMZ confident of Uranium One shareholder approval</strong><span style="color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; float: none; display: inline !important; white-space: normal; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">. -</span><a href="https://saraacarter.com/2017/11/21/treasure-trove-of-documents-tying-russia-to-uranium-one/" style="text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal;" target="_blank" rel="noopener noreferrer"><em><span style="text-decoration: underline;"><span style="color: #0066cc;">Sara Carter</span></span></em></a></p> </blockquote> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">“<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">This is not just about bribery and kickbacks but about a U.S. company that was transporting yellow-cake for the Russians with our approval,</strong>” an unnamed U.S. Intelligence official told Carter, adding “<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">This should raise serious questions.<span>&nbsp;</span></strong>At the time everyone was concerned about Russia’s ties to Iran, we still are. And of course, Russia’s intentions and reach into the U.S. energy market.”</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><span style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; text-decoration: underline; box-sizing: border-box;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">And after all of that</strong></span>, Attorney General Jeff Sessions doesn’t think there&nbsp;is&nbsp;“enough basis” to appoint a second Special Counsel to investigate the Uranium One deal.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">Moreover, Carter reports that “<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">several Justice Department officials, who formerly commended Campbell, have spoken on background to other news agencies disparaging Campbell and his work at that time</strong>” – despite the FBI’s glowing review and $51,000 check.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">Carter writes:</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">"In a story by Michael Isikoff, published on Yahoo,<span>&nbsp;</span><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">a DOJ official involved in the case stated that Campbell was a “disaster” as a potential witness and that “there was no question that Campbell’s credibility was such that the prosecutors had to restructure the case,”</strong><span>&nbsp;</span>the source said.“He got cut out of the case entirely.” It is important to note that Campbell was going through 35 intense radiation treatments after being diagnosed with cancer during his time with the FBI, according to hospital records.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">After years of effective reporting and working in harms way, the cancer diagnosis and treatment had a profound effect on Campbell’s ability to interact with in the final stages prior to the indictments, &nbsp;said Toensing.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;"><strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">She said her client is ready to present Congress with all he knows and called the stories a “smear job.”</strong></p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px 0px 0px 30px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">“<strong style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; border-image: none; box-sizing: border-box;">This is what the left do-provide false talking points to compromised reporters who are willing to regurgitate whatever they are fed</strong>,” said Toensing."</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">Keep in mind –&nbsp;all it took for Rod Rosenstein to establish Mueller’s Special Counsel on Russian influence was a<span>&nbsp;</span><a href="https://disobedientmedia.com/2017/07/new-research-shows-guccifer-2-0-files-were-copied-locally-not-hacked/" style="list-style: none; margin: 0px; padding: 0px; border: 0px currentColor; transition: 0.2s ease-in-out; border-image: none; color: #00a3cc; text-decoration: none; box-sizing: border-box;" target="_blank" rel="noopener noreferrer">dubious</a><span>&nbsp;</span>Russian hacking report by a discredited DNC-linked security firm and a hearsay memo from former FBI director James Comey, stating that President Trump asked him to go easy on former National Security Advisor Mike Flynn.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; font-style: normal; font-weight: 400; word-spacing: 0px; white-space: normal; box-sizing: border-box; orphans: 2; widows: 2; background-color: #ffffff; font-variant-ligatures: normal; font-variant-caps: normal; text-decoration-style: initial; text-decoration-color: initial;">If the DOJ continues to stonewall the Uranium One investigation and Campbell’s testimony is given the runaround, one has to wonder if any of the 5,000 documents – or even the Russian bribe video – will mysteriously appear in the public domain for the world to see.</p> <p style="list-style: none; margin: 0px 0px 20px; padding: 0px; border: 0px currentColor; border-image: none; text-align: center; color: #333333; text-transform: none; text-indent: 0px; letter-spacing: normal; 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