Jamie Dimon Bets Trump Will Last Only One Term As President

In an October 2017 interview, Jamie Dimon famously lambasted Bitcoin as a ‘fraud’ and the people who bought it as ‘stupid’ which, temporarily, halted the ascent in the Bitcoin price. It also led to much heated debate in the mainstream media and much anger across the crypto community. In a just as incendiary follow up, Dimon sat down for another interview, this time as ‘The Economic Club of Chicago’.
We wondered whether he would confirm recent reports that JPMorgan Chase would buy and sell Bitcoin futures for clients after the upcoming launch on the CME. Sadly, he wasn’t pressed on this question. Instead, he had some striking comments about the longevity of Trump’s Presidency, as Reuters reports.
Jamie Dimon, chief executive officer of JPMorgan Chase & Co, on Wednesday said he expects to see a new U. S. president in 2021 and advised the Democratic party to come up with a ‘pro-free enterprise’ agenda for jobs and economic growth instead. Asked at a luncheon hosted by The Economic Club of Chicago how many years Republican President Donald Trump will be in office, Dimon said, ‘If I had to bet, I’d bet three and half. But the Democrats have to come up with a reasonable candidate … or Trump will win again.’
Dimon, who in the past has described himself as ‘barely’ a Democrat, has been going to Washington more often since the 2016 elections to lobby lawmakers on issues including changes in corporate taxes, immigration policies and mortgage finance.

This post was published at Zero Hedge on Nov 23, 2017.

Alwaleed Bin Talal Reportedly Hung Upside Down And Beaten By US Mercenaries

Crown Prince Mohammed bin Salman must be worried that some of the royals rounded up during his ‘corruption crackdown’ cash grab are holding out on him. Because the Saudi prince has reportedly hired a crew of American mercenaries who haven’t hesitated to employ an array of ‘enhanced interrogation’ techniques.
As the Daily Mail reports, mercenaries purportedly employed by Academi, a successor to infamous US security contractor Blackwater, have been stringing up some of MBS’s ‘guests’ at the Riyadh Ritz Carlton by their feet and savagely beating them during interrogations. The claims have spread rapidly on Arabic-language social media, and even Lebanon’s president Michel Aoun has accused MbS of using mercenaries. Still, the Daily Mail isn’t the most reputable news organization, so these reports should be taken with a grain of salt.
‘They are beating them, torturing them, slapping them, insulting them. They want to break them down,’ the source told DailyMail.com.
‘Blackwater’ has been named by DailyMail.com’s source as the firm involved, and the claim of its presence in Saudi Arabia has also been made on Arabic social media, and by Lebanon’s president.
The firm’s successor, Academi, strongly denies even being in Saudi Arabia and says it does not engage in torture, which it is illegal for any U. S. citizen to commit anywhere in the world.
The Saudi crown prince, according to the source, has also confiscated more than $194 billion from the bank accounts and seized assets of those arrested, and could eventually end up with $800 billion in cash and assets to replenish Saudi’s rapidly diminishing reserves. Given the febrile atmosphere in the kingdom, and the tacit support for the crackdown among Saudi citizens, who have seen their jobs and generous government subsidies cut, MbS has been able to circumvent the country’s legal system.

This post was published at Zero Hedge on Nov 23, 2017.

Mainstream Media Paint Power-Grabbing Saudi Dictator As Roguish, Visionary ‘Reformer’

Two weeks ago, Saudi Crown Prince Mohammed bin Salman carried out a brutal crackdown on his political opponents, arresting dozens of high-ranking relatives, kidnapping the prime minister of Lebanon, and seeing eight of his political rivals die in a convenient helicopter crash. The ‘consolidation of power’ by the de facto Saudi ruler comes as his government ramps up its siege of Yemen and gets even closer to its US sponsor, thanks to Trump’s dopey love affair with – and direct assistance of – the regime.
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The cynical plan has been met, in some media quarters, with condemnation, but for many in the Western press, Mohammed’s self-serving power grab is the action of a bold ‘reformer,’ a roguish bad boy doing the messy but essential work of ‘reforming’ the kingdom – the ‘anti-corruption’ pretext of the purge largely repeated without qualification.

This post was published at Zero Hedge on Nov 21, 2017.

Why Is The DOJ Downplaying Reports Of Proof Linking Obama And Clinton To Russian Corruption

Following the release of the identity of the FBI informant, Justice Department officials in recent days said that informant William Campbell’s prior work won’t shed much light on the U. S. government’s controversial decision in 2010 to approve Russia’s purchase of the Uranium One mining company and its substantial U. S. assets.
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However, The Hill’s John Solomon has reviewed 1000s of new memos from an FBI informant that clearly show illegal activity surrounding a Russian plot to corner the American uranium market, ranging from corruption inside a U. S. nuclear transport company to Obama administration approvals that let Moscow buy and sell more atomic fuels.

This post was published at Zero Hedge on Nov 21, 2017.

Thanksgiving: Celebrating the Birth of American Free Enterprise

This time of the year, whether in good economic times or bad, is when Americans gather with their families and friends and enjoy a Thanksgiving meal together. It marks a remembrance of those early Pilgrim Fathers who crossed the uncharted ocean from Europe to make a new start in Plymouth, Massachusetts. What is less appreciated is that Thanksgiving also is a celebration of the birth of free enterprise in America.
The English Puritans, who left Great Britain and sailed across the Atlantic on the Mayflower in 1620, were not only escaping from religious persecution in their homeland. They also wanted to turn their back on what they viewed as the materialistic and greedy corruption of the Old World.
Plymouth Colony Planned as Collectivist Utopia In the New World, they wanted to erect a New Jerusalem that would not only be religiously devout, but be built on a new foundation of communal sharing and social altruism. Their goal was the communism of Plato’s Republic, in which all would work and share in common, knowing neither private property nor self-interested acquisitiveness.

This post was published at Ludwig von Mises Institute on Nov 20, 2017.

Saudi Purge Claims Its Latest Corporate Victim As Kingdom Holdings Sees $1.3 Billion Bank Deal Collapse

For the past couple of weeks we’ve written frequently about the sudden political turmoil in Saudi Arabia that resulted in two Saudi princes being killed in a span of just 24 hours and dozens others being detained on charges of corruption while having their bank accounts frozen. Here are couple of our most recent background posts on the topic:
The Saudi Purge: The Middle-East Is On The Verge Of A New War If The Saudi Arabia Situation Doesn’t Worry You, You’re Not Paying Attention Now, per an exclusive report from Reuters, it appears as though the latest casualty of the Saudi shakeup is a financing deal sought by the $8 billion dollar Kingdom Holdings which is owned and run by Prince Alwaleed bin Talal…at least until he was recently arrested that is.
Kingdom Holding’s plan to borrow money to fund new investments has stalled because owner Prince Alwaleed bin Talal has been detained in Saudi Arabia’s anti-corruption crackdown, according to four banking sources familiar with the matter. Kingdom 4280. SE had approached banks to obtain the loan, but the financing plan has been held up because the lenders are worried about potential repercussions if they lend to the prince’s company, the sources said.
One of the sources, who was approached for the loan, said it would have been worth roughly 5 billion riyals ($1.3 billion).

This post was published at Zero Hedge on Nov 20, 2017.

FBI Informant Has Video Of Russian Agents With Briefcases Of Bribe Money In Clinton-Uranium Scandal

An undercover FBI informant in the Russian nuclear industry who was made to sign an ‘illegal NDA’ by former AG Loretta Lynch, claims to have video evidence showing Russian agents with briefcases full of bribe money related to the controversial Uranium One deal – according to The Hill investigative journalist John Solomon and Circa’s Sara Carter.
The informant, whose identity was revealed by Reuters as William D. Campbell, will testify before congress next week after the NDA which carried the threat of prison time was lifted. Campbell, originally misidentifed by Reuters as a lobbyist is actually a nuclear industry consultant who is currently battling cancer.
As previously reported, Campbell was deeply embedded in the Russian nuclear industry where he gathered extensive evidence of a racketeering scheme involving bribes and kickbacks.
‘The Russians were compromising American contractors in the nuclear industry with kickbacks and extortion threats, all of which raised legitimate national security concerns. And none of that evidence got aired before the Obama administration made those decisions,’ 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. -The Hill


This post was published at Zero Hedge on Nov 18, 2017.

Saudi ‘Corruption’ Probe Widens: Dozens Of Military Officials Arrested

After jailing dozens of members of the royal family, and extorting numerous prominent businessmen, 32-year-old Saudi prince Mohammed bin Salman has widened his so-called ‘corruption’ probe further still.
The Wall Street Journal reports that at least two dozen military officers, including multiple commanders, recently have been rounded up in connection to the Saudi government’s sweeping corruption investigation, according to two senior advisers to the Saudi government.
Additionally, several prominent businessmen also were taken in by Saudi authorities in recent days.
A number of businessmen including Loai Nasser, Mansour al-Balawi, Zuhair Fayez and Abdulrahman Fakieh also were rounded up in recent days, the people said.
Attempts to reach the businessmen or their associates were unsuccessful.
It isn’t clear if those people are all accused of wrongdoing, or whether some of them have been called in as witnesses. But their detainment signals an intensifying high-stakes campaign spearheaded by Saudi Arabia’s 32-year-old crown prince, Mohammed bin Salman.
There appear to be three scenarios behind MbS’ decision to go after the military:

This post was published at Zero Hedge on Nov 17, 2017.

Zimbabwe: Reports That All Ten Branches Of Mugabe’s Zanu PF Party Passed No Confidence Votes

NewsDay, the privately-owned Zimbabwe newspaper, is reporting that all the provincial branches of President Mugabe’s party have passed votes of no confidence in his leadership.
In a dramatic twist of events, all the ten Zanu PF provinces have passed a vote of no confidence on President Robert Mugabe, and declared the 93 year-old leader – who has been in office for 37 years – too old and incapacitated to lead both Zanu PF and government. The move, which comes at the height of a drama-filled week that saw the military taking control of the country, is a huge knock on the veteran’s leader’s prospects of retaining his presidency for much longer.
It’s not clear where NewsDay got this information, although other sources are saying the central committee of Zanu PF could meet as early as Sunday to decide on Mugabe’s fate. In the meantime, Mugabe is reported to have resisted pressure to step down in negotiations with the Zimbabwe military and could face impeachment. The possibility of impeachment is being discussed by Zimbabwe politicians who are loyal to Mugabe’s former deputy, Emmerson Mnangagwa, whose dismissal precipitated the crisis.
The grounds for impeachment might include the wealth accumulated by the Mugabe family, corruption amongst his wife’s allies and the collapse of the Zimbabwe economy (now half the size it was in 2000). According to Bloomberg.

This post was published at Zero Hedge on Nov 17, 2017.

Next-Generation Crazy: The Fed Plans For The Coming Recession

Insanity, like criminality, usually starts small and expands with time. In the Fed’s case, the process began in the 1990s with a series of (in retrospect) relatively minor problems running from Mexico’s currency crisis thorough Russia’s bond default, the Asian Contagion financial crisis, the Long Term Capital Management collapse and finally the Y2K computer bug.
With the exception of Y2K – which turned out to be a total non-event – these mini-crises were threats primarily to the big banks that had unwisely lent money to entities that then flushed it away. But instead of recognizing that this kind of non-fatal failure is crucial to the proper functioning of a market economy, providing as it does a set of object lessons for everyone else on what not to do, the Fed chose to protect the big banks from the consequences of their mistakes. It cut interest rates dramatically and/or acquiesced in federal bailouts that converted well-deserved big-bank losses into major profits.
The banks concluded from this that any level of risk is okay because they’ll keep the proceeds without having to worry about the associated risks.
At this point – let’s say late 1999 – the Fed is corrupt rather than crazy. But the world created by its corruption was about to push it into full-on delusion.
The amount of credit flowing into the system in the late 1990s converted the tech stock bull market of 1996 into the dot-com bubble of 1999, which burst spectacularly in 2000, causing a deep, chaotic recession.

This post was published at DollarCollapse on NOVEMBER 17, 2017.

The Big Money Grab Is ‘On’ As Middle America Collapses

The stock market rejoices the House passage of the tax ‘reform’ Bill as the Dow shot up 187 points and the S&P 500 spiked up 21. The Nasdaq soared 1.3%, retracing its 3-day decline in one day. The tax bill is nothing more than a massive redirect of money flow from the Treasury Department to Corporate America and billionaires. The middle class will not receive any tax relief from the Bill but it will shoulder the burden of the several trillion dollars extra in Treasury debt that will be required to finance the tax cuts for the wealthy. The tax ‘reform’ will have, at best, no effect on GDP. It will likely be detrimental to real economic output.
The Big Money Grab is ‘on’ at the highest levels of of Wall St., DC, Corporate America, the Judiciary and State/local Govt. These people are grabbing from a dying carcass as fast and greedily as possible. The elitists are operating free from any fear of the Rule of Law. That particular nuisance does not apply to ‘them’ – only to ‘us.’ They don’t even try to hide their grand scale theft anymore because the protocol in place to prevent them from doing this is now on their side. This is the section in Atlas Shrugged leading up to the big implosion.
‘When you see that money is flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.’ – Atlas Shrugged

This post was published at Investment Research Dynamics on November 16, 2017.

Identity of Secret Informant In FBI’s Clinton Probe Unveiled

More information about the Congressional probes into the Obama-era Uranium One deal leaked out Thursday when Reuters reported that Senate Republicans say their investigation into the Clinton’s role in approving the deal largely hinges on the testimony of a secret informant who was until recently the subject of a federal gag order.
But a month after Trump asked the DOJ to lift the gag order – a command that the DOJ promptly obeyed – the man has decided to speak out publicly for the first time in an interview with Reuters.
His name is Christopher Campbell, and was formerly a lobbyist for Tenex, the US-based arm of Rosatom, the Russian government’s nuclear agency.
At the time the Uranium One deal was approved, Campbell was a confidential source for the FBI in a Maryland bribery and kickback investigation that eventually led to the conviction of the head of the US unit of Rosatom, the Russian state-owned nuclear power company that received permission to buy Uranium One from a US strategic-resources panel, on bribery and corruption charges. Campbell was identified as an FBI informant by prosecutors in open court and by himself in a publicly available lawsuit he filed last year, but his identity as the informant was somehow not widely known, Reuters noted.

This post was published at Zero Hedge on Nov 16, 2017.

Saudi Arabia Offers Arrested Royals A Deal: Your Freedom For Lots Of Cash

As we noted shortly after the Crown Prince’s purge of potential rivals within Saudi Arabia’s sprawling ruling family, while the dozens of arrests were made under the pretext of an “anti-corruption crackdown”, Mohammed bin Salman’s ulterior motive was something else entirely: Replenishing the Kingdom’s depleted foreign reserves, which have been hammered for the past three years by low oil prices, with some estimating that the current purge could potentially bring in up to $800 billion in proceeds.
Furthermore, the geopolitical turmoil unleashed by the unprecedented crackdown helped push oil prices higher, creating an ancillary benefit for both the kingdom’s rulers and the upcoming IPO of Aramco.
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And, in the latest confirmation that the crackdown was all about cash, the Financial Times reports today that the Saudi government has offered the new occupants of the Riyadh Ritz-Carlton a way out…. and it’s going to cost them: In some cases, as much as 70% of their net worth.

This post was published at Zero Hedge on Nov 16, 2017.

Corruption In China Risks A Soviet-Style Collapse – Party’s Graft Buster

Yang Xiadou is the Party’s number two man in Xi Jinping’s crackdown on corruption in the Chinese Communist Party – although some have seen this, in part, as a convenient way for Xi to bolster his power base.
During the 19th Party Congress last month, Yang was asked about the anti-corruption drive and how to achieve a balance between human rights and party discipline. Yang replied that, having worked in the Tibet Autonomous Region for many years, human rights was an ‘interesting question’. He recounted a conversation he had with a US assistant secretary of state where he likened Abraham Lincoln freeing slaves in America to China’s actions in Tibet.
‘I said in the hearts of Chinese people, Lincoln is a hero, because he freed the slaves.
On this point the Chinese people and the American people have the same understanding – this is a human rights issue.
In turn, we freed the serfs in Tibet, how come American friends cannot understand this? From Lincoln’s perspective, he should have supported China’s overturning of the serfdom in Tibet.’

This post was published at Zero Hedge on Nov 15, 2017.

At Last – Clinton Foundation Gets Investigated

What goes around, comes around. The Washington Post has reported that the Department of Justice has instructed the US Attorney’s Office to investigate the controversial sale of a uranium group to Russia during the presidency of Barack Obama and the role of the Clinton Foundation. The Obama administration approved the deal in 2010 giving Moscow control of a much of the American uranium sources. It turns out that the FBI had gathered significant evidence that Russian nuclear industry officials were engaged in bribery, kickbacks, extortion and money laundering to get the deal in the USA. According to a letter released on Monday, Justice Secretary Jeff Sessions instructed the prosecutors to consider, inter alia, the appointment of a special investigator and an extension of the investigation.

This post was published at Armstrong Economics on Nov 15, 2017.

Buchanan: “Reining In The Rogue Royal Of Arabia

If the crown prince of Saudi Arabia has in mind a war with Iran, President Trump should disabuse his royal highness of any notion that America would be doing his fighting for him.
Mohammed bin Salman, or MBS, the 32-year-old son of the aging and ailing King Salman, is making too many enemies for his own good, or for ours.
Pledging to Westernize Saudi Arabia, he has antagonized the clerical establishment. Among the 200 Saudis he just had arrested for criminal corruption are 11 princes, the head of the National Guard, the governor of Riyadh, and the famed investor Prince Alwaleed bin Talal.
The Saudi tradition of consensus collective rule is being trashed.
MBS is said to be pushing for an abdication by his father and his early assumption of the throne.

This post was published at Zero Hedge on Nov 14, 2017.

Sessions Considers Appointing Special Counsel To Investigate Clintons

With Special Counsel Robert Mueller reportedly preparing to make another round of arrests in his probe into the Trump campaign’s efforts to ‘collude’ with Russia, House and Senate Republicans – not to mention President Donald Trump – will be thrilled to learn that Attorney General Jeff Sessions might soon appoint a second special counsel to investigate allegations of corruption and self-dealing involving several prominent Democrats and Obama-era officials, including Bill and Hillary Clinton.
According to the Washington Post, Attorney General Jeff Sessions is entertaining the idea of appointing a second special counsel to investigate alleged wrongdoing by the Clinton Foundation and the controversial sale of a uranium company to Russia. A letter obtained by WaPo shows Sessions directed senior federal prosecutors to explore at least some of these matters and report back to him and his top deputy, Rod Rosenstein, as to whether the DOJ should follow up with a full-blown investigation.
For months now, President Trump has encouraged Sessions to appoint a special prosecutor to investigate the Clintons. Those calls grew louder – and were joined by several senior Republicans in Congress – after it was revealed that the DNC and the Clinton campaign jointly financed the infamous ‘Trump dossier’ – which contained several salacious claims that the FBI reportedly used to justify launching the original investigation into collusion between the Trump camp and Russia back in July 2016.

This post was published at Zero Hedge on Nov 14, 2017.

Behold The Saudi Plunge Protection Team

Amid all of the chaos, coups, and corruption crackdowns in Saudi Arabia, and with declarations of war being dropped like confetti, the Tadawul All-Share Index is barely lower…
We first pointed out the ‘odd’ appearance of a panic-buyer in Saudi stocks just two days after the chaos erupted. But it has now been a week and it seems someone is extremely keen to keep up appearances that all is well in the ‘market’ for Saudi stocks….

This post was published at Zero Hedge on Nov 12, 2017.

Fall of the House of Saud, Finally

*** COLLAPSE OF THE KINGDOM ***
The Saudi Kingdom will fall, a longstanding Jackass forecast, an inevitable event
The Saudi Kingdom will fall alongside the ruined collapsing Petro-Dollar
The Saudi foundation has been the primary element to entire Petro-Dollar system
This Saudi situation is loaded with intrigue, corruption, cunning, collusion, criminality
The Saudi region will erupt in chaos ruin decay and gross destabilization
The entire Saudi situation is a grand mixture of deep corruption and wreckage
The Saudi Royals will scatter and escape with stolen wealth, an absolute guarantee
*** BLATANT TREACHERY ***
The old guard like Prince al-Waleed are Citigroup investors and Wall Street friends
US will knock off princes to continue the USD, and to prevent deviation toward the East
Iran will knock off princes to stop the Yemen War, and to halt ISIS
Iran has a new vested interest, to avoid the spread of war to Lebanon
The US will deploy its usual terrorism, via Langley and ISIS tool
Iran will use the Yemeni violent anger for a rapacious invasion by the Saudi thugs

This post was published at GoldSeek on 12 November 2017.

The Saudi-Iran Brewing War

The turmoil in the Middle East has been instigated in part by fiscal mismanagement. When the money was rolling in with high oil prices, it was assumed, as always, that whatever trend is in motion will remain in motion. Consequently, the government expanded their spending assuming money would continue to flow in. When oil broke, the fiscal mismanagement has been exposed for all to see if they care to look.
Falling oil prices have decimated revenues and trade in the region. Security worries about terrorism, particularly in the US, have led to cuts in airline routes. Then there has also been a long-running diplomatic and trade impasse between Saudi Arabia and its allies on the one hand, and Qatar on the other. Now the good-old-days of easy money and rapid growth has led to concerns about over-capacity, waste, and corruption that nobody cared about when money flowed like oil.
We are witnessing the beginning of a Middle East War between the Suni and Shite where the latter opposes kings and the state should be ruled by religious leaders. Iran and its Lebanese ally, the militant Shia group Hezbollah, claim the Saudis detained Mr. Saad El-Din Rafik Al-Hariri is a Lebanese-Saudi politician who has been the Prime Minister of Lebanon since December 2016. They allege that Saudi Arabia forced his resignation. Rex Tillerson said he had received assurances that Mr. Hariri was free to leave anytime.

This post was published at Armstrong Economics on Nov 12, 2017.