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North Korea Tells UN “Trump Is On A Suicide Mission; Inevitably Our Rockets Will Hit US Mainland”

September 23, 2017 Tyler Durden 0

Speaking at the United Nations General Assembly, in response to President Trump’s address earlier in the week, North Korean Foreign Minister Ri took direct aim at Trump:

“None other than Trump himself is on a suicide mission.”

 

“None other than Trump himself is on a suicide mission,” North Korea’s Ri Yong Ho says https://t.co/ItuTAPADlF pic.twitter.com/7NnquohQPz

— CBS News (@CBSNews) September 23, 2017

 

“North Korea’s nuclear arsenal is a war deterrent…The very reason the DPRK had to possess nuclear weapons is because of the U.S.”

 

“The very reason the DPRK had to possess nuclear weapons is because of the U.S.,” North Korea’s Ri Yong Ho says https://t.co/ItuTAPADlF pic.twitter.com/l4ts4vqVsD

— CBS News (@CBSNews) September 23, 2017

 

“President Trump is trying to turn UN into a gangsters nest where bloodshed is order of the day.”

 

“Pyongyang will take merciless pre-emptive action if needed.”

 

“POTUS might not realize what he’s uttered from his mouth, but we will make sure that he bears consequences far beyond his words…”

 

N. Korea: POTUS might not realize what he’s “uttered from his mouth, but we will make sure that he bears consequences far beyond his words” pic.twitter.com/uiNGZbavwI

— CBS News (@CBSNews) September 23, 2017

But the most prominent threat was the North Korean’s warning that “inevitably”, the country’s rockets will hit the US, to wit: “President Trump committed an irreversible mistake… making the visit of our rockets to the entire U.S. mainland all the more inevitable.

Pres. Trump “committed an irreversible mistake of making our rockets’ visit to the entire U.S. mainland inevitable all the more,” FM says pic.twitter.com/qAD1ceKP8d

— CBS News (@CBSNews) September 23, 2017

“The U.S. claims that the DPRK’s possession of H-bomb and ICBM constitutes a global threat…but such claim is a big lie…”

“The U.S. claims that the DPRK’s possession of H-bomb and ICBM constitutes a global threat…but such claim is a big lie,” Ri Yong Ho says pic.twitter.com/NpuN657fkr

— CBS News (@CBSNews) September 23, 2017

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Bring Back the Court Jesters

September 23, 2017 The_Real_Fly 0

Content originally published at iBankCoin.com

The problem with American politics is that the people demand to be entertained, as they feverishly engorge themselves with Nando, cheesed doodles, along with any number of strong narcotics and booze. More or less, much of America is populated by varmints, both new and old, perverted, slobbish people who festoon their living quarters with degeneracy and live out villainous lives.

Here’s Trump weighing in on NFL kneelers and how owners should deal with them.

Totally normal. pic.twitter.com/IHivq78IDF

— The_Real_Fly (@The_Real_Fly) September 23, 2017

Here is the full outburst.

The President has now entered the red zone in politics, messing with her favorite pastime — fool’s ball. Will this latest gambit pay off? Or, will an assault on the CIA’s favorite deflection be his downfall?

My personal opinion, not that it should mean more than anyone else’s, is that the President shouldn’t get up on stages, stumping for people with the last name ‘Strange’ — calling for multi-millionaire fools-ball players to be fired for kneeling during the anthem. Instead, he should’ve dispatched an Anthony Scaramucci type figure onto the public, cursing, using terms like ‘fughetiboutit’, to discuss this very important matter. This jester could’ve said all of the things Trump said, AND MORE, without sapping the office of the Presidency from whatever semblance of dignity it had left in it. For the sake of the nation, and for our cherished institutions, being back the court jester. We’ve already brought back other fine institutions, like family monarch and the aristocracy, feudal lords, and clandestine forms of slavery — why not this?

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Trump Responds To NFL, NBA Player Backlash: “Find Something Else To Do!”

September 23, 2017 Tyler Durden 0

Having set social media on fire following his withdrawal of Golden State Warriors’ NBA super star Stephen Curry’s invitation to The White House and for slamming NFL players for kneeling during the National Anthem (and the reactions of the NFL owners), President Trump has responded to the outpouring of abuse for his demands…

If a player wants the privilege of making millions of dollars in the NFL,or other leagues, he or she should not be allowed to disrespect….

— Donald J. Trump (@realDonaldTrump) September 23, 2017

…our Great American Flag (or Country) and should stand for the National Anthem. If not, YOU’RE FIRED. Find something else to do!

— Donald J. Trump (@realDonaldTrump) September 23, 2017

We suspect this is far from over!!

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Russell Brand On The Benefits Of Legalizing Drugs

September 23, 2017 Tyler Durden 0

Authored by Adam Dick via The Ron Paul Institute for Peace & Prosperity,
British commentator, comedian, and author Russell Brand has presented a short summation of some benefits from legalizing currently illegal drugs.

Brand, in a new video comme…

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NFL Chief Lashes Out At “Divisive, Disrespectful” Trump Over “Son Of A Bitch” Comment

September 23, 2017 Tyler Durden 0

Update: Trump’s comments have elicited some responses from NFL players also…

DeMaurice Smith, head of the NFL Players Association

We will never back down. We no longer can afford to stick to sports. pic.twitter.com/Ec3Bc4qt9h
— DeMaurice Smith (@DeSmithNFLPA) September 23, 2017

Lesean McCoy of the Buffalo Bills

It’s really sad man … our president is a asshole
— Lesean McCoy (@CutonDime25) September 23, 2017

Eric Ebron of the Detroit Lions

Does anyone tell trump to stick to politics, like they tell us to stick to sports? Smh.
— Eric Ebron (@Ebron85) September 23, 2017

Chris Conley of the Kansas City Chiefs

“Stick to sports boy… Sit down and do what your told. Say or do something we don’t like and your fired” Well I hate to break it to ya…
— Chris Conley (@_flight17_) September 23, 2017

George Iloka of the Cincinnati Bengals

I can’t take anything our Celebrity in Chief says seriously. He’s a real life clown/troll ????
— George Iloka (@George_iloka) September 23, 2017

Richard Sherman of the Seattle Seahawks

The behavior of the President is unacceptable and needs to be addressed. If you do not Condemn this divisive Rhetoric you are Condoning it!!
— Richard Sherman (@RSherman_25) September 23, 2017

 

*  *  *

As we detailed earlier, after warming up the Alabama crowd Friday night with a recitation of Trump’s Greatest hits (attacks on Hillary Clinton, intransigent Republicans in Congress and, of course, the president’s love of Roll Tide football), Trump abruptly went off on a tangent about the NFL and the growing number of players who are following former San Francisco 49ers back-up QB Colin Kaepernick in kneeling during the National Anthem, purportedly to protest racial injustice in the US.

In remarks that predictably provoked a chorus of outrage in the left wing media Saturday, Trump said that NFL owners should fire players like Kaepernick – whom the president implied was a “son of a b***h” for “disrespecting our heritage” by refusing to stand for the anthem – who engage in gametime protests, adding that any owner who did so would become “the most popular person in the country – at least for a week.” He then asked his supporters to leave the stadium if they see players protesting during games, adding that walkouts would force NFL franchise owners to confront the protests.

“When people like yourselves turn on television and you see those people taking the knee when they are playing our great national anthem – the only thing you could do better is if you see it, even if it’s one player, leave the stadium,” Trump said. “I guarantee things will stop.”

 

“I’d love to see one of these NFL owners, when somebody disrespects our flag, to say, ‘Get that son of a bitch off the field right now. He’s fired.”

Of course, even the suggestion that the league engage in the active suppression of speech (as if it isn’t doing that already) was enough to provoke an outraged response from Commissioner Roger Goodell.

In a statement issued Saturday morning, Goodell said Trump’s “divisive” comments “demonstrate an unfortunate lack of respect for the NFL.”

“The NFL and our players are at our best when we help create a sense of unity in our country and our culture.  There is no better example than the amazing response from our clubs and players to the terrible natural disasters we’ve experienced over the last month. 

 

Divisive comments like these demonstrate an unfortunate lack of respect for the NFL, our great game and all of our players, and a failure to understand the overwhelming force for good our clubs and players represent in our communities.”

Unfortunately for Goodell, Trump has a point about the popularity (or rather, unpopularity) of political protests at sporting events, and their impact on the NFL’s ratings.

As Free Market Shooter pointed out in a Saturday post, ratings truly are down across the NFL, and surveys have suggested that the drop is tied to controversial protests, which have alienated many of the white, working-class fans that comprise the league’s fan base.

Though Colin Kaepernick is still unsigned by any NFL team, other players are continuing the “protest” trend that he started. However, since Kaepernick first refused to stand for the anthem last year, attendance at the team’s games, and its ratings, have declined.

A recent J.D. Power survey shows that the national anthem protests are directly to blame for declining ratings.

The group surveyed 9,200 fans (a sample of 1,000 is usually used in political polling), and 26% of them said they had turned the games off due to the national protests alone.

As Free Market Shooter concludes, at the end of the day, the NFL is facing a number of headwinds that have led to a decline in ratings.  High prices of the game itself, both for the home consumer and the fans in stadium seats, are certainly what gets the ball rolling on fans choosing to tuning out.  Combine that with questions on the quality of the game, accessibility, and a litany of other factors not mentioned here (including the commissioner’s punishments of players and concussion fears), and it seems the political antics of some players is just one of many aspects that has led to the NFL’s sharp ratings drop.

However, when a Trump-voting US military veteran is sitting at home, pissed off about how his team is 0-2, angry that his cable bill is eating into his disability payments, upset that the game “isn’t what it used to be,” and he turns on the game just before kickoff to see a player doing this while the National Anthem is being sung…

…it just might be the straw that breaks this guy’s back and gets him to tune out of this week’s game.  Given the NFL’s current predicament regarding viewership, political antics from players are the last thing the league needs right now. 

*  *  *

For anyone who has been following the Kaepernick saga, the hypocrisy in Goodell’s statement should be strikingly obvious. NFL owners have, in effect, already acquiesced to Trump’s demands that they fire protesting players: case in point, Kaepernick has been blackballed from the league after opting out of his contract with the 49ers back in March.

But then again, hypocrisy is nothing new to the NFL.
 

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Janet Yellen’s 78-Month Plan For The National Monetary Policy Of The United States

September 23, 2017 Tyler Durden 0

Authored by Economic Prism’s MN Gordon via Acting-Man.com,

Past the Point of No Return

Adventures in depravity are nearly always confronted with the unpleasant reality that stopping the degeneracy is much more difficult than starting it.  This realization, and the unsettling feeling that comes with it, usually surfaces just after passing the point of no return.  That’s when the cucumber has pickled over and the prospect of turning back is no longer an option.

Depravity and bedlam through the ages. The blue barge of perdition in the lower middle ferries the depraved and degenerate to their final destination, a small slice of which can be glimpsed above… [PT]

 

In late November 2008, Federal Reserve Chairman Ben Bernanke put in place a fait accompli.  But he didn’t recognize it at the time.  For he was blinded by his myopic prejudices.

Bernanke, a self-fancied Great Depression history buff with the highest academic credentials, gazed back 80 years, observed several credit market parallels, and then made a preconceived diagnosis.  After that, he picked up his copy of A Monetary History of the United States by Milton Friedman and Anna Schwartz, turned to the chapter on the Great Depression, and got to work expanding the Fed’s balance sheet.

Now here is something all those “Great Depression experts” always neglect to mention: the Fed’s holdings of government securities expanded my more than 400% between late 1929 and early 1933. Friedman’s often repeated assertion that the Fed “didn’t pump enough” in the early 1930s – which is held up as the gospel truth by nearly everyone – is simply untrue. It is true that the money supply collapsed anyway – but not because the Fed didn’t try to pump it up. Many contingent circumstances mitigated against money supply expansion: too many banks went bankrupt, taking all their uncovered deposit money to money heaven, as there was no FDIC insurance; only 50% of all banks were even members of the Federal Reserve system; no-one wanted to borrow or lend in view of the massive economic contraction and the Hoover administration’s ill-conceived interventionism. We can also tentatively conclude that the economy’s pool of real funding was under great pressure, which was exacerbated as a result of the trade war triggered by the protectionist Smoot-Hawley tariff enacted in June 1930. The collapse in international trade and investment meant that the pool of savings of the rest of the globe was no longer accessible. [PT]

 

Bernanke’s dirty deed commenced with the purchase of $600 billion in mortgage-backed securities, using digital monetary credits conjured up from thin air.  By March 2009, he’d run up the Fed’s balance sheet from $900 billion to $1.75 trillion.  Then, over the next five years, he ballooned it out to $4.5 trillion.

All the while, Bernanke flattered his ego with platitudes that he was preventing Great Depression II.  Did it ever occur to him he was merely postponing a much-needed financial liquidation and rebalancing?  Did he comprehend that his actions were distorting the economy further and setting it up for an even greater bust?

 

US broad true money supply TMS-2 and assets held by the Federal Reserve… and the perpetrator seen through the lens of various observers. [PT] – click to enlarge.

 

Normalization Principles and Plans

Perhaps Bernanke understood exactly what he was doing.  As many readers have insisted over the years, the Fed works for the big banks and big money interests.  Not Main Street. Regardless, the Fed recognizes that the optics of its $4.5 trillion balance sheet have become a bit skewed.  The Great Recession officially ended over eight years ago.  Why is the Fed’s balance sheet still extremely bloated?

On Wednesday, Fed Chair Janet Yellen attempted to clarify what the Fed is going to do about it.  Following the two day Federal Open Market Committee meeting, the Fed issued its customary statement.  Therein, it mentioned that balance sheet normalization would be initiated in October.  The referenced implementation note offered details on how the Fed will go about contracting its balance sheet:

“Effective in October 2017, the Committee directs the [Open Market] Desk to roll over at auction the amount of principal payments from the Federal Reserve’s holdings of Treasury securities maturing during each calendar month that exceeds $6 billion, and to reinvest in agency mortgage-backed securities the amount of principal payments from the Federal Reserve’s holdings of agency debt and agency mortgage-backed securities received during each calendar month that exceeds $4 billion.”

 

Ms. Yellen mentioned that the run-down of the balance sheet was going to be akin to “watching paint dry” – this is certainly true, considering its current size of around $4.5 trillion and the relatively small initial monthly drawdowns of $10 billion. But reductions by $50 billion per month are quite sizable and the markets are very likely to anticipate the effects at some point. In other words, this exercise in quantitative tightening could get a lot more exciting rather sooner than expected. [PT]

Moreover, if we correctly interpreted the Fed’s June 2017 Addendum to the Policy Normalization Principles and Plans, the Fed plans to increase this initial $10 billion balance sheet contraction every three months by increments of $10 billion until they reach $50 billion per month.  Then they’ll let it ride until they’re back to normal; though, it is unclear what the Fed believes normal is.  What to make of it?

Janet Yellen’s 78-Month Plan for the National Monetary Policy of the United States

By our back of the napkin calculation, starting with October’s initial $10 billion reduction, then incrementally increasing the reduction by $10 billion each quarter until hitting $50 billion per month, and then contracting by $50 billion a month from there, it will take 78-months for the Fed to get its balance sheet back to $900 billion (i.e., where it was before Bernanke’s act of depravity).  Thus, in roughly six and a half years, or in March 2024, monetary policy will be back to normal.

If you recall, the Soviets operated under five-year plans for the development of the national economy of the USSR.  Now, Yellen, an ardent central planner and control freak, has charted the Fed’s 78-month plan for the national monetary policy of the United States.  Have you ever heard of something so ridiculous?

However, while the Soviets were zealous believers in their plans, we suspect the Fed will be as committed to the cause as a fat person to a New Year’s Day diet.  In truth, the Fed will never, ever reduce its balance sheet to $900 billion.  They won’t even get close; they are well past the point of no return.

In the early 1930s the Soviet planners under Stalin had a great idea: why not fulfill the 5 year plan in four years? This showed that nothing was impossible for the “new Soviet man” and two plus two was henceforth five. As Marxists will explain, this is in perfect keeping with the rules of polylogism. Even the laws of mathematics must bend to proletarian logic. [PT]

 

For starters, financial markets will not allow the Fed to execute its 78-month tightening program according to plan.  At some point, credit markets will have a severe reaction.  This would ripple through stock markets and nearly all assets that are propped up by cheap credit.

What’s more, if this doesn’t panic the Fed from its master 78-month monetary policy plan, the economy will.  No doubt, at some point within the next 78-months the U.S. economy will shrink.  What will the Fed do then? Will they continue to tighten in the face of a contracting economy?

Guess who’s lying in wait… it will be found out that a creature long held to be extinct was merely hibernating in its cave, sharpening its claws. [PT]

 

No way.  They will ease, and then they will ease some more.  They won’t stop until it is near impossible for an honest person to work hard, save their money, and pay their way in life. Many fine fellows were already pickled over by the Fed in the last easing cycle and lost their way. More are bound to follow.

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Forex Forecast for EURUSD, GBPUSD, USDJPY and USDCHF for 25 – 29 September 2017

September 23, 2017 MQL5: Traders' Blogs 0

First, a review of last week’s forecast:

– EUR/USD. Recall that experts appeared to be completely bewildered when giving last week’s forecast: 40% of them voted for the growth of the pair, 40% for its fall and 20% for a sideways trend. The indicators did not clarify the situation either, showing a very similar dispersion in their readings. Graphical analysis was alone in pointing unambiguously to the north, where the pair indeed went, having reached 1.2033 on Wednesday 20 September.

The main event of the day was an atypical meeting of the US Federal Reserve, which confirmed the expediency of another increase in the interest rate in 2017 followed by three increases in 2018. In addition, the Fed, finally, decided to start reducing its balance. All this led to a sharp increase in the dollar, and the EUR/USD suddenly fell 170 points, stopping at 1.1860. After that, the bulls vigorously won back the losses, and the pair finished the week practically at the same place where it started: near

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“Thousands Could Die” – Puerto Rico Scrambles To Evacuate River Valley As Dam Fails

September 23, 2017 Tyler Durden 0

Days after Hurricane Maria passed over the island and made its way west toward the Dominican Republican, Puerto Rico is still struggling with the initial response to the storm – rescuing people stranded in remote villages, and moving thousands into government shelters. Meanwhile the island’s first responders are making due without electricity, gas or cell phone service after the storm dealt a knockout blow to its infrastructure.

In what was perhaps the most destructive blow to the island’s aging infrastructure, the NWS warned Friday that the Guajataca Dam in northwest Puerto Rico would soon fail, prompting the agency to issue a flash flood emergency warning for Isabela and Quebradillas municipalities. Now, authorities are scrambling to evacuate the residents of the river valley below the dam before their communities are entirely submurged. If the authorities don’t act quickly, “thousands could die” one official in charge of the rescue response said.

According to federal reservoir data, the lake behind the dam, Lago de Guajataca, rose more than three feet between Tuesday and Wednesday, when the storm was still directly over the island. More recent data were unavailable. With floodwaters gushing into the Guajataca river valley, Reuters reports that emergency officials were scrambling Friday and Saturday to evacuate its nearly 70,000 residents before their villages have been completely submerged.

Video published by CBS shows waters gushing over the top of the 90-year-old dam, sending a wall of water racing into the valley below.

The National Weather Service warned of “imminent failure” and urged residents in the area to “move to higher ground now.”

The evacuation of the valley is perhaps the most high-stakes rescue effort of the past week, according to  Abner Gomez, executive director of Puerto Rico’s emergency management agency. Gomez said Friday that the dam’s floodgates suffered mechanical damage during the storm, which made it impossible for authorities to open and let out normal water currents.

He added that “there is no way to fix it” right now considering the conditions and said if the dam tops over or fails structurally, “thousands of people could die.”

The Puerto Rico Electric Power Authority, which operates the dam, says that the failure is already causing flash flooding downstream. The dam lies across the Guajataca River to form a reservoir that can hold roughly 11 billion gallons of water.

According to Weather.com, local media have reported that residents of one small community near the dam are refusing to evacuate, forcing authorities to invoke a law that allows responders to evacuate children and the elderly in an emergency.

The latest crisis comes as the death toll on Puerto Rico rose to 21 on Friday, when authorities said eight people had died in Tao Baha 30 miles from San Juan, where more than 4,000 people have been rescued from floodwaters.

Meanwhile, some shelters are running out of food and other essential supplies, creating a situation that the island’s governor, Ricard Rossello, described as a “humanitarian emergency.”

Maria made landfall in Puerto Rico early Wednesday as a powerful Category 4 hurricane with 155 mph winds – the first Category 4 to hit the island since 1932. The storm wiped out the island’s power grid and dumped 20 to 30 inches of rain in 24 hours, with some areas seeing as much as 40 inches. The storm could leave most of the island without power for weeks – or possibly up to six months in some areas.
 

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