White House

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Obama On The Red Line And On The Rat Line





Read Seymour Hersh’s devastating account of Obama’s Red Lines and Rat Lines and weep for the Republic. It is no more.

 
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Government Denies It Knew About, Abused Heartbleed Bug





"Reports that NSA or any other part of the government were aware of the so-called Heartbleed vulnerability before April 2014 are wrong. The Federal government was not aware of the recently identified vulnerability in OpenSSL until it was made public in a private sector cybersecurity report. The Federal government relies on OpenSSL to protect the privacy of users of government websites and other online services. This Administration takes seriously its responsibility to help maintain an open, interoperable, secure and reliable Internet. If the Federal government, including the intelligence community, had discovered this vulnerability prior to last week, it would have been disclosed to the community responsible for OpenSSL."

 
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US/UK Investigating New Assad Chemical Attacks In Syria





It seems tensions in Ukraine are not escalating fast enough for the US warmongers. As The Daily Mail reports, allegations have emerged that Syria's Assad regime has carried out four new chemical attacks in the suburbs of Damascus. We can only assume that there is clear "YouTube-able" proof of this as The White House said it was "monitoring reports." The attacks were carried out using industrial rather than weaponised agents to lessen the chances of military intervention from Western powers, it was reported. UK diplomats added that they're "aware of the allegations but not able to corroborate them at this time." The Syrian National Coalition said, "we condemn the Assad regime’s gas attacks," and called on the Organization for the Prohibition of Chemical Weapons to carry out an investigation.

 
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Obamacare Claims Its Latest Victim: Kathleen Sebelius Resigns As US Health Secretary





Obamacare has been such a smashing success that the US Health Secretary Kathleen Sebelius just couldn't wait until days after its "successful" rol out to get the hell out of dodge. "Kathleen Sebelius, the health and human services secretary, is resigning, ending a stormy five-year tenure marred by the disastrous rollout of President Obama’s signature legislative achievement, the Affordable Care Act.  Mr. Obama accepted Ms. Sebelius’s resignation this week, and on Friday morning he will nominate Sylvia Mathews Burwell, the director of the Office of Management and Budget, to replace her, officials said. The departure comes as the Obama administration tries to move beyond its early stumbles in carrying out the law, persuade a still-skeptical public of its lasting benefits, and help Democratic incumbents, who face blistering attack ads after supporting the legislation, survive the midterm elections this fall."

 
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Russian Sanctions And The Negative Effect On Global Energy Security





For the first time ever in the history of US-Russian relations we are seeing a public debate about a threat of economic sanctions that may have a long-range negative effect on global energy security. The Obama administration acts as if it is guided by a chapter out of an old Soviet textbook on political economy. At the moment, apparently, the sacred dogma of the free market, from Samuelson to Friedman, can be conveniently overlooked for the sake of punishing a sovereign nation. When the head of the most influential state in the world talks about manipulating market prices to punish recalcitrant players, what kind of “global free market” and fair play are we really talking about? After a series of headline-grabbing statements about the possibility of “switching” European consumers over to American gas, the US media hastened to announce the launch of Obama’s oil and gas offensive against Russia. In reality the EU is not currently prepared, neither technically nor in terms of price, to buy its energy resources from the US.  It would take at least ten years to adapt even the technically advanced German energy system to work with American gas supply. In a crisis, when it is particularly urgent to see a quick return on an investment, such projects are unrealistic.

 
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Frontrunning: April 8





  • Russia's Gazprom says Ukraine did not pay for gas on time (Reuters)
  • Ukraine Moves to Keep Control in East (BBG)
  • Banks Set to Report Lower Earnings as Debt Trading Slumps (BBG)
  • More DeGeners and Obama selfies needed: Samsung's lower first-quarter estimate highlights smartphone challenges (Reuters)
  • Citi Is Bracing to Miss a Profit Target (WSJ)
  • Another slam from GM? Safety group calls for U.S. probe of Chevy Impala air bags (Reuters)
  • Japan drugmaker Takeda to fight $6 billion damages imposed by U.S. jury (Reuters)
  • EU court rules against requirement to keep data of telecom users (Reuters)
  • White House may ban selfies with president after Ortiz-Obama photo promotes Samsung (Syracuse)
 
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Yen Carry Tumbles, Dragging Equity Futures Lower As Asian Stimulus Hopes Fade





It took Virtu's idiot algos some time to process that the lack of BOJ stimulus is not bullish for more BOJ stimulus - something that has been priced in since October and which sent the USDJPY up from 97.000 to 105.000 in a few months, but it finally sank in when BOJ head Kuroda explicitly stated overnight that there is "no need to add stimulus now." That, and the disappointing news from China that the middle kingdom too has no plans for a major stimulus, as we reported last night, were the final straws that forced the USDJPY to lose the tractor-beamed 103.000 "fundamental level", tripping the countless sell stops just below it,  and slid 50 pips lower as of this moment to overnight lows at the 102.500 level, in turn dragging US but mostly European equity futures with it, and the Dax was last seen tripping stops below 9400.

 
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Russia Accuses US Mercenaries Of Inciting Civil War In Ukraine





In response to claims by the Ukraine government (and the west) that Russia provoking trouble in Eastern Europe - with The White House's Jary Carney even suggesting that pro-Russia demonstrators were paid - Russia's foreign ministry has responded. Posting via their Facebook page, Russia urged Ukraine to halt any interior military preparations which could instigate a civil war. But the kicker, for which we anxiously await a rebuttal, is Russia's comment that they "are particularly concerned that the operation involves some 150 American mercenaries."

 
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Is The Drone War Finally Being Questioned? (Spoiler Alert: Not Really)





The ethical problems associated with the US 'drone war', as well as the enormous blow-back potential it harbors are seemingly finally rousing Congress into asking questions. After hundreds of civilian deaths and the enormous help they have reportedly provided to Al Qaeda's recruitment drive in the regions concerned, it may indeed be time to wonder 'who is actually killed' by US drone strikes. It would surely be a case of 'better late than never', but one should actually better not get one's hopes up...

 
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US Threatens Russia Over Petrodollar-Busting Deal





On the heels of Russia's potential "holy grail" gas deal with China, the news of a Russia-Iran oil "barter" deal, it appears the US is starting to get very concerned about its almighty Petrodollar:

U.S. HAS WARNED RUSSIA, IRAN AGAINST POSSIBLE OIL BARTER DEAL; U.S. SAYS ANY SUCH DEAL WOULD TRIGGER SANCTIONS; U.S. HAS CONVEYED CONCERNS TO IRANIAN GOVT THROUGH ALL CHANNELS.

We suspect these sanctions would have more teeth than some travel bans, but, as we noted previously, it is just as likely to be another epic geopolitical debacle resulting from what was originally intended to be a demonstration of strength and instead is rapidly turning out into a terminal confirmation of weakness.

 
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Christine Lagarde Is Clueless: 70 Words Of Pure Keynesian Claptrap





The world’s official economic institutions are run by people who believe in monetary fairy tales. The 70 words of wisdom below from IMF head Christine Lagarde are par for the course. She asserts that a new jabberwocky expression called “low-flation” is the main obstacle to higher economic growth in Europe and the DM areas generally and that it can be cured by more central bank money printing.

 
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Conspiracy Fact: How The U.S. Government Covertly Invented A "Cuban Twitter" To Create Revolution





It appears the U.S. government is doing its best to ensure that nobody anywhere in any corner of planet earth will ever trust American technology again (or U.S. aid for that matter). This process of distrust first really got going with the Edward Snowden revelations, which demonstrated that essentially all major U.S. tech firms are mere wards of the state with little to no privacy protections, and absolutely zero backbone. This story of the U.S. government covertly creating a “Cuban Twitter” called ZunZuneo in order to overthrow the regime there has enormous long-term ramifications on many, many levels, which we will address below...

 
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White House Petition Launched To Ban HFT Market Abuse





“At some point in time the chickens are going to come home to roost on the HFT game,” said one Goldman insider.

 
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What About The Dollar: Russia, Iran Announce $20 Billion Oil-For-Goods Deal





Spot what is missing in the just blasted headline from Bloomberg:

IRAN, RUSSIA SAID TO SEAL $20B OIL-FOR-GOODS DEAL: REUTERS

If you said the complete absence of US Dollars anywhere in the funds flow you are correct. Which is precisely what we have been warning would happen the more the West and/or JPMorgan pushed Russia into a USD-free corner.

 
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