• EconMatters
    04/27/2015 - 14:18
    If the DOJ and CFTC is going to be consistent, then they have to indict the entire financial community from the CME, Exchanges, Brokers, Institutions, Investment Banks, Hedge Funds, Management Funds...

White House

smartknowledgeu's picture

The Greatest, Most Relevant Speech Ever





Every now and then, it is good to refresh knowledge of what is truly important in life. So it’s time to post “The Greatest Speech Ever” by Charlie Chaplin. Charlie Chaplin was known as the greatest silent actor ever. The most powerful excerpts from his speech, still very relevant today, in my opinion, are below:

 

 
Tyler Durden's picture

Merkel's ObamaPhone Scandal Escalates: US Ambassador Summoned By German Foreign Minister





The diplomatic farce in the aftermath of the most recent revelations that Obama had tapped not only Hollande's but Merkel's cell phone as well continues, when moments ago Germany's Foreign Ministry summoned the U.S. ambassador over claims that U.S. intelligence agencies may be spying on Chancellor Angela Merkel's cellphone, a ministry spokeswoman said. They used the word "may" loosely.  John B. Emerson, the newly appointed U.S. ambassador to Germany, will meet Foreign Minister Guido Westerwelle Thursday afternoon, she said. But while the latest diplomatic escalation will have zero impact whatsoever on either US spying intentions, mostly of US citizens let alone foreigners, or German-US relations, what is missing is that had this "scandal" happened four short months ago, the farce would have been truly complete as the summoned US Ambassador would be none other than former Goldman senior director and head of Goldman Germany, Philip Murphy, who alas stepped down in August. Had that been the case someone may have just put two and two together.

 
Tyler Durden's picture

Obamacare Pitch Of The Day: Baltimore Ravens Paid $130k To Promote "Affordable Care"





In a “Sponsorship Agreement” between the Maryland Health Connection and the Ravens, Judicial Watch reports that the state (read taxpayers) will pay the Super Bowl champs $130,000 to push Obamacare on television, radio, the team’s official website, its newsletter and in social media. If Obamacare is the great thing that we are constantly reassured it to be, why are we seeing the administration feeling the need to constantly market, pitch, and sell the idea by any means possible (from keg standing college students to Superbowl shuffles)?

 
Tyler Durden's picture

Futures Slump As China Tapering Fears Trump Hope Of Extended Yellen Liquidityhose





There was some hilarious news overnight: such that supposedly Spain's GDP rose 0.1% in Q3 thus ending a 2+ year recession. There is no point to even comment on this "recovery" - we will merely remind that starving your economy of imports for the sake of generating a GDP-boosting trade surplus, while consumption declines, solves nothing and point readers to charts of Spanish non-performing loans, housing prices, and unemployment, oh and the massive Bad Bank of course, and leave it at that. In terms of real news, futures are lower following a drubbing in Asia over the previously discussed concerns over tighter Chinese monetary policy. Amusingly, as Reuters notes, this has hit global shares still high on hopes of extended U.S. stimulus on Wednesday, when the dollar tentatively steadied at an eight-month low after its latest slide. The immediate casualty is the USDJPY, which continues to slide and is approaching the 200SMA. In short: fears that China may have resumed tapering have offset yesterday's hope that "horrible" job numbers mean no Fed tapering until mid-2014.... New Normal fundamentals.

 
Tyler Durden's picture

Guest Post: China And Gold





There can be little doubt from recent actions that China is preparing herself for the demise of the dollar, at least as the world’s reserve currency. Central to insuring herself and her citizens against this outcome is gold. The West selling its stocks of gold has become the biggest strategic gamble in financial history. We are committing ourselves entirely to fiat currencies, which our central banks are now having to issue in accelerating quantities. In the process China and Russia have been handed ultimate economic power on a plate.

 
Tyler Durden's picture

The Obamacare "Glitch" Explained In 25 Quotes





While some have proclaimed the 36,000 enrollment in The Affordable Care Act "a good start," the online marketplaces that Obamacare has become more infamous for have been plagued with problems in the brief two weeks since launch. Politico provides 25 of the most telling and colorful comments made about the "glitches" the online exchanges have faced...

 
Phoenix Capital Research's picture

The Debt Ceiling Was Hit Back in May... So Why Did It Become a Crisis Five Months Later





 

The only problem is that this entire “crisis” was a lie. The US actually hit its debt ceiling back in May 2013, a full five months ago.At that time neither the Treasury Department, nor the White House, nor Congress talked about this.

 
Tyler Durden's picture

More Than 44,000 Demand GOP Arrests For "Seditious Conspiracy" Against USA





More than 44,000 people have signed a petition on the MoveOn.org sebsite calling for the Departmnet of Justice to arrest some House Republican leaders for their roles in the givernment shutdown and debt-ceiling debacle. As The Hill reports, the petition singles out Speaker John Boehner (R-Ohio) and House majority leader Eric Cantor (R-Va.), as well as "other decision-making House Republican leaders," for the crime of "seditious conspiracy against the United States of America." While careful to point out that it does not "necessarily endorse the contents of petitions" we thought it ironic that more people successfully completed the petition to arrest the GOP for trying to abolish Obamacare than have successfully signed up for the new law.

 
Tyler Durden's picture

Obama: "John, What Happened", Boehner: "I Got Overrun, That's What Happened"





Perhaps no (albeit brief) conversation sums up how the debacle of the last couple of weeks started than the following exchange that took place on October 2nd, according to Politico,

Obama: "John, What Happened"

 

Boehner: "I Got Overrun, That's What Happened"

The question, prompted by the shutdown in the face of Boehner's pledge to avoid it, set the scene for what Politico notes was a fiscal drama set on a series of complicated relationships. A look back reveals how Republicans waged a fight on Obamacare that their leaders knew they would probably lose but pushed anyways because many in their ranks truly believed that Democrats, like they’ve done so often before, would fold - especially under the threat of an historic default on U.S. debt.

 
Tyler Durden's picture

Guest Post: Non-Participation As An Effective Weapon Against Tyranny





Legitimate revolution takes time, patience and fortitude. Unfortunately, this is a strategic concept that is lost on many Americans today who suffer from a now common ailment of attention deficit disorder and an obsession with immediate gratification. Even some who have their hearts in the right place and who work to defend and resurrect our nation’s founding ideals seem to believe that any action to defeat corrupt oligarchy must be effective immediately, otherwise, it’s not worth the attempt. History, of course, teaches us the opposite. As things stand at this moment, though, the death of the system is not something to cheer, no matter how much we might wish it to crumble under the weight of its own criminality. The collapse of the existing system will not be the end of our troubles, only the beginning. Chaos always opens doors for evil men, and they will certainly take full advantage of the chaos triggered by shutdown, default or continued inflationary debt spending. We must make ourselves ready to resist by making ourselves separate from the monster we plan to fight. Crisis waits for no one, and on the path our nation now walks, crisis is assured.

 
Tyler Durden's picture

Tea Party Blasts Boehner "The Senate Deal Is A Complete Sellout"





While the House looks set to vote for the Senate bill and kick the can just a little down the road, the Washington Post reports that at least one tea party group is calling for Republicans to hold their ground.

"The Senate deal is a complete sellout.  Speaker Boehner and the House should stand firm and reject this deal to reign in the executive branch’s power before it is too late,” Tea Party Patriots head Jenny Beth Martin said.

 
Tyler Durden's picture

White House Briefing On Debt Deal - Live Webcast





With the Senate having presented the fully endorsed can-kicking deal, and a House vote pending later this afternoon, here is White House spokesman Jay Carney to share the White House's blessings.

 
Tyler Durden's picture

As House Republicans Fail To Get The Needed Votes, A Reminder Of What Goldman Warned





When is the debt limit X Date?

Update: Sure enough, NO HOUSE VOTE TONIGHT ON FISCAL IMPASSE PLAN, LAWMAKER SAYS

In a repeat of the Sequester farce, in which Boehner was unable to even get the needed votes to pass the House Republicans' version of their own bill, the debt ceiling impasse is becoming a sequester sequel deja vu when McConnell and Joe Biden had to hammer out a deal over the impotent political corpse of John Boehner. The reason, as various beltway journalists report, in this case the NRO, that House Republicans are now set to postpone tonight’s vote on their plan to end the fiscal impasse is that "The votes aren’t there," says a leadership aide. "We’ve been amending the bill all day, but we’ve been unable to get people around this strategy." As the NRO's Robert Costa adds, this development leaves Speaker John Boehner with few options as Thursday’s debt-ceiling deadline nears, and it throws the action back toward the Senate, which has been working on a bipartisan package.

 
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