The Special Inspector General for Afghan Reconstruction (SIGAR), John Sopko, in an interview with Breitbart News, said the U. S. has been ‘drowning’ Afghanistan in money, wasting millions and creating conditions for corruption. ‘You can drown somebody in goodness,’ Sopko told Breitbart. ‘It’s the comedy of the absurd when it comes down to [American] assistance [to Afghanistan] and we are just drowning Afghans in money. And when you drown somebody in money, you can’t be surprised that some of it gets wasted.’ Sopko said the American people should care about the Afghan war as a natural security issue, but should also demand accountability for their government’s reckless use of tax dollars in the conflict. The office of the SIGAR is charged with overseeing reconstruction projects in Afghanistan, conducting audits and investigations to prevent waste, fraud and abuse. To date, the U. S. has appropriated a total of some $700 billion for the war, including the $120 billion spent on ‘reconstruction’ which Sopko’s office is tasked to track and account for.
Over the past two days there have been some rather substantial developments in Special Counsel Mueller’s investigation into alleged ties between President Trump and the Kremlin. First came the news yesterday that Mueller planned to expand his probe to review Trump’s personal business transactions, an announcement which sent stocks tumbling on the day (see: Mueller Expands Probe Into Trump Business Transactions: Dollar Tumbles, Stocks Slammed). Meanwhile, just this morning we learn that the Trump legal team has been shaken up with Kasowitz out (not terribly surprising after his recent email meltdown) and Corrallo resigning (see Trump Legal Shake Up: Kasowitz Out As Personal Attorney, Corrallo Resigns). Now, as the New York Times points out, Trump may be preparing a counter-offensive aimed at identifying potential conflicts of interest among the people hired by Mueller in order to force recusals. President Trump’s lawyers and aides are scouring the professional and political backgrounds of investigators hired by the special counsel Robert S. Mueller III, looking for conflicts of interest they could use to discredit the investigation – or even build a case to fire Mr. Mueller or get some members of his team recused, according to three people with knowledge of the research effort. The search for potential conflicts is wide-ranging. It includes scrutinizing donations to Democratic candidates, investigators’ past clients and Mr. Mueller’s relationship with James B. Comey, whose firing as F. B. I. director is part of the special counsel’s investigation. The effort to investigate the investigators is another sign of a looming showdown between Mr. Trump and Mr. Mueller, who has assembled a team of high-powered prosecutors and agents to examine whether any of Mr. Trump’s advisers aided Russia’s campaign to disrupt last year’s presidential election.
This post was published at Zero Hedge on Jul 21, 2017.
The shock landslide defeat of PM Shinzo Abe’s Liberal Democratic Party (LDP) in the recent Tokyo metropolitan elections – and the triumph there of Tokyo Governor Koike’s new party (Tomin First) – has lit a faint hope that the radical Japanese monetary expansion policy could be on its way out. The flickering light though is not strong enough to soothe the mania in Japan’s carry trades and so the yen continued to slide in the aftermath of the elections. Between mid-June and early July the Japanese currency depreciated by some 5% against the US dollar and 10% against the euro. The perception in currency markets is that Japan will not be embarking on monetary normalization this year or next, in contrast to Europe where ECB Chief Draghi has hinted that the train (to monetary normalization) will start next year, even though the journey promises to be very slow. The US train to normalization continues at a glacially slow pace including some periods of reverse movement. Moreover the monetary climate prior to the journey commencing is even more extreme in the case of Japan than in Europe or the US. It was possible to imagine that the shock election setback for the LDP could have caused Shinzo Abe to withdraw support from his money-printer in chief, Bank of Japan governor Haruhiko Kuroda (whose term ends in April 2008), thereby signaling an early end to negative interest rates and quantitative easing. But markets in their wisdom have concluded this is not to be. Many elderly Japanese are pleased with their stock market and real estate gains even though they complain about negative interest rates and the threat of inflation. In any case it was young voters, responding to the stink of alleged corruption scandals, who turned out en masse for Governor Koike’s new party.
When the parties do finally implode, the general mood will be: good riddance. History informs us that once something is obsolete, it can disappear far faster than anyone expected. While we generally think of obsoleted technologies vanishing, social and political systems can become obsolete as well. Should a poor soul who entered a deep coma a year ago awaken today, we must forgive his/her astonishment at the political wreckage left by the 2016 election. The Democratic Party, a mere year ago an absurdly over-funded machine confident in an easy victory in the presidential race, is now a complete shambles: its leadership in free-fall, its Fat-Cat donors disgusted, and its demented intoxication with pinning collaboration with Russia on the Trump camp eroding whatever feeble legacy legitimacy it still holds. What the party stands for is a mystery, as its Elites are clearly beholden to insiders, special interests and Corporate donors while glorifying the worst excesses of globalism and the National Security State’s endless war on civil liberties. The newly awakened citizen would also marvel at the chaotic war zone of the Republican Party, in which the Insider Warlords are battling insurgent Outsiders, while the same Elites that fund the Democratic machine are wondering what they’re buying with their millions of dollars in contributions, for it’s unclear what the Republican Party stands for: it’s for Small Government, except when it’s for Bigger Government, which is 95% of the time; it’s for more law enforcement and the militarization of local police, and more intrusion into the lives of the citizenry; it’s for stricter standards for welfare, except for Corporate Welfare; it’s for tax reform, except the thousands of pages of give-aways, loopholes and tax breaks for the wealthy and corporations all remain untouched, and so on: a smelly tangle of special interests masked by a few sprays of PR air freshener to the millions left behind by the globalization that has so enriched Corporate America and the class of financier-owners, bankers, insiders and technocrats–the same group that funds and controls both political parties.
There has not been a mantra that’s emulated a teenagers go-to excuse of ‘Because!’ for both tactical effect, as well as childish reasoning than the term ‘it’s different this time.’ And for nearly the last 10 years that phrase has meant something entirely different to two distinct groups. The issue at hand is that one side (i.e., ‘The Valley’, Wall St., and its sycophantic chorus of enablers throughout the financial/business media) is going to suddenly become aware that this once reliable sword against any and all reasoning not only had an ominous double entendre like quality, but also a double-edged-sword. And the cleaving of reputations, along with investment dollars and sense has only just begun. So what about the other side you may be wondering since I said there were two? Fair point, and it is this: The other-side as we’ll now call them (where you can place me if you wish) also understood that, yes, it was different this time, but not in the way that the prior believed. And that is the key. e.g., Believed.
This post was published at Zero Hedge on Jul 3, 2017.
President Trump, as part of his ‘America First’ program, has proposed lowering the US corporate tax rate to 15 percent and to close a myriad of loopholes in an effort to simplify the tax code, and to also encourage the nation’s largest businesses to bring production back home. The proposal represents a tangible shift in the relationship between Washington and big business. In 2014, President Obama’s Treasury Department introduced new measures to crack down on corporate tax inversions, a strategy companies utilized to exploit gaping tax differentials between the United States and other countries. Burger King’s acquisition of Canada’s Tim Hortons, a coffee and doughnut chain, for example, was motivated in large part by Canada’s more hospitable tax environment.
I claim no special power here, nor any inside information. This is simply arithmetic coupled with logic. I’ll give you a “decision tree” sort of format with the critical points outlined. Note that if you’re going to mitigate any of what I see coming around the bend you need to do it right damn now, not wait. By the time you get to those critical points it’s too late. For many people it’s already too late, but if you’re not in that batch then you need to make your lifestyle changes today. I am operating on the premise that the rank corruption that I outlined in the Ticker here will not be addressed. It will not be addressed for the same reason the 17th Amendment will be cited as the reason the American political experiment failed when the book on America is finally closed, as that Amendment permanently removed the ability of the States to call a hard-stop on any expansion of Federal Power they did not consent to. That was designed in to our government by the founders and it was removed intentionally by the 17th Amendment. That balance of power can never be restored absent a Revolution because to do so The Senate would have to literally vote themselves out of a job at a supermajority level which they will never do and there is no means to compel them to do so. For the same reason the 30-year trend in Medicare and Medicaid spending will not be stopped. It may be tinkered with around the edges but it won’t be stopped because to stop it without literally throwing people into the street and letting them die you have to break the medical monopolies and in doing so you will inevitably (1) destroy the graft machine that drives a huge part of DC and at least half of the jobs inside the Beltway, along with the asset values they support, (2) create an immediate and deep (15% of GDP, but temporary) recession on purpose which neither Congress or Trump will ever voluntarily initiate as it would cause a guaranteed 70% stock market crash along with the immediate detonation of about 1/3rd of all in-debt corporations in the United States and (3) expose the outrageous theft of trillions of dollars from taxpayers over the last several decades to fund the medical scam machine at all levels.
It appears that at least one “Nigerian prince” had the cash to back his claims. Nigeria’s anti-corruption unit discovered more than $43 million in US dollars at an upscale apartment in Lagos, after receiving an anonymous tip. As CTV News reports, the Economic and Financial Crimes Commission received a tip from a whistleblower who reported suspicious activity when they noticed someone moving bags in and out of the apartment, according to a Facebook post.
This post was published at Zero Hedge on Apr 16, 2017.
The world’s eyes and ears have once again turned toward Syria following last week’s chemical weapons attack and U. S. President Donald Trump’s subsequent air strikes on the Assad government. Mainstream media, independent media, and social media platforms are fixing fierce attention on the ongoing developments. These events undoubtedly deserve widespread, ongoing scrutiny. From the United States government’s lack of evidence that the Syrian government was behind the chemical attack to the media’s complicity in driving a pro-war narrative and president Trump’s hypocrisy in bombing Syria – after criticizing former president Barack Obama for doing the same thing – further critical analysis of the recent airstrikes is vital. But even as skepticism toward these events should remain heightened, so should awareness of countless other major developments. Here are five to follow: 1. Trump Appoints Pharmaceutical Consultant to Head the FDA – This week, the president appointed Scott Gottlieb, a pharmaceutical industry insider who has served the boards of multiple pharmaceutical companies, to chair the Food and Drug Administration. Gottlieb currently still works as a consultant for GlaxoSmithKline. He has received $414,000 from GSK, Pfizer, AstraZeneca, Bristol-Myers Squibb, and Valeant Pharmaceuticals. He has also received tens of thousands of dollars in speaking fees from pharmaceutical companies like Merck and Mikart, as well as other corporations – including Goldman Sachs. He has taken several trips through Washington’s revolving door, with brief stints at the FDA mixed in with multiple positions consulting pharmaceutical companies. Trump’s pick follows in the footsteps of Barack Obama, who also appointed a pharmaceutical industry insider to chair the FDA.
An investigative reporting coalition recently released a report alleging a multi-billion dollar money laundering operation that has affected hundreds of banks and companies in 96 countries including the repeat offender, HSBC. In 2012, HSBC, one of the world’s largest banks, settled with the U. S. Government, avoiding criminal prosecution of its executives, for helping to launder money for Mexican drug cartels as well as Al Qaeda. According to the US Senate’s report, which investigated the matter, HSBC provided a ‘gateway for terrorists to gain access to U. S. dollars and the U. S. financial system.’ Loretta Lynch, while serving as the U. S. District Attorney in NY, said HSBC engaged in a ‘sustained and systemic failure to guard against the corruption of our financial system by drug traffickers and other criminals and for evading U. S. sanctions law.’ As a result of the criminal charges for money laundering and admitted guilt in four counts against the global banking firm – the megabank was let off with a slap on the wrist. ‘HSBC has agreed to forfeit 1.256 billion dollars, the largest forfeiture amount ever by a financial institution for a compliance failure,’ Lynch stated.
Literally no one knows the true ‘value’ of equity research, not even the investment banks that are selling it. Up until now, equity research has been treated as a ‘freebie’ given away to institutional clients in return for trading commissions but that is all about to change thanks to the European Union’s MiFID II regulations, which require asset managers to separate trading commissions from investment-research payments. Unfortunately, at least for the Investment Banks of the world, while the cost of generating equity research may be substantial, it turns out that the true ‘value’, as defined by institutional clients’ maximum willingness to pay for reports, may be much less. Which is shocking given the creativity required to constantly generate new variations of daily reports politely suggesting that you “Buy The Fucking Dip.” As Bloomberg notes today, the regulatory change slated to take effect next January could cost the I-banks $300 million in fees. Asset-managers in Europe and the U. S. will probably cut more than $300 million from research budgets in anticipation of regulations aimed at rooting out conflicts of interest in the market for investment information. That’s according to a survey of 99 fund managers and traders conducted by consulting firm Greenwich Associates, which assessed the shake-up coming to the multi billion-dollar market for investment research over the next year. The European Union’s MiFID II regulations, which require asset managers to separate trading commissions from investment-research payments, will have a ‘clearly negative’ impact on the amount of commission money that is spent on research and advisory services, according to the Stamford, Connecticut-based firm’s findings released Tuesday. While the budget cuts will be ‘relatively modest’ at individual asset-managers, research providers across the board fear the new law will prompt ‘a substantial decrease’ in buy-side spending.
This post was published at Zero Hedge on Mar 15, 2017.
The character of events from week to week, and as discussed by both Batchelor and Cohen, is manifestly worsening. While the proxy wars are stabilizing to some little extent, we see the political wars in governments as fall out of the New Cold War in a constant state of escalation. Cohen notes a New York Times piece by Charles Blow that coined a name for what is happening as an ‘Era of Suspicion’ and the author considered this a positive thing for the country – where all the interest groups are being forced by the hate and fear campaign to align with the anti-Russian narrative whether it serves their interests or not. This past week Batchelor brings up the news about the Estonian Ambassador, Eerik Marmei and the Ukrainian Minister of Foreign Affairs, Pavlo Klimkin who spoke to a Senate subcommittee about Russia disrupting elections in Europe, and the danger of cyber warfare by Russia. Also mentioned were the Trump charges that Obama had his Trump Tower ‘bugged’. Cohen then launched into what the consequences of this new ‘Era of Suspicion’ and the professor describes how the pressure to conform has influenced all the politicos (Flynn debacle) and the masters of industry in the United States, who want to have business dealings with Russia, into remaining cautiously silent. These and other efforts are being used to isolate Trump and neuter or redirect any chance of dtente or even honest discussion of serious geopolitical events. It is working too – with Republicans also becoming divided. Some Republicans are looking at Vice President Pence for the president’s position. Cohen also discusses the role of ‘expert consultants on Russia’ in the media and their efforts to vilify Putin and the Kremlin. All interviews using these people are factually untrue. The most egregious of these, for example, maintained that Putin was ‘deliriously happy that Washington was in complete chaos over Russian policies’. Batchelor exclaims that this is ‘complete rubbish’. It was also Batchelor’s opinion that it was serious that Trump did not mention Russia in his address to Congress. What this indicates is that dtente is getting much less likely. Cohen also mentions the resurrection of McCarthyism with a Committee of Un-American Activity being formed and concludes that disorder is the contrived tenure of modern Western diplomacy. In my opinion Trump has to decide whether folding to the will of his opposition will stop this campaign to remove him or will it show weakness that will lead to escalation. His reticence to talk about Russia may be testing the waters, or be showing weakness. Senator Graham, who talked with the president, seems to think the latter and the US will ‘push back’ against Russia. I think Trump is folding too. The push back will see more support for NATO and perhaps more military help for Ukraine. Cohen discusses the quasi NATO presence now in Ukraine, and he also brings up a potential increase in US troop presence in Syria. He discusses the dangers of a combined military presence of US and Russian assets in Syria. Cohen then discusses the simple solution to ease the danger, and it really is simple. Disengagement. But Putin needs Washington (Trump) to cooperate. But Cohen now considers this as unlikely as he thinks Trump is folding to his opposition in Washington. In Ukraine the political and economic situation is worse and where President Poroshenko is having no control over the ukronazis – who are now embargoing coal imports from the Donbass. This hurts Kiev, but also illuminates the reality of a failing central government. A personal question: Will NATO continue to base troops there? It would mean contending with or working with nazis in a failed state environment? But would most of the West hear about it? That’s where we are, living behind a virtual information wall that George Orwell would immediately recognize. From my point of view the Military Industrial Complex has shown no sense of danger in supporting a ‘confrontation for profit’ policy against Russia, and now the people of the West are effectively ‘walled off’ from learning about critical realities by a systemic corruption of the MSM. Washington is creating its own “Iron Curtain”. Not even discussions at the highest levels of Washington are tolerated unless they support the narrative. One wonders how long this can go on with the Military Industries dependent on tax dollars, and the financial sector and other interests looting the economy and destroying that same tax base. This becomes another reason to impose that ‘Era of Suspicion’ on the whole country; if one cannot advise or discuss an argument against war dangers (or government policies) without censure, then war becomes more inevitable in spite of the fundamentals that work against it. One could say, ‘unleash the dogs of war’ but first hugely increase the fiscal deficit.
New revelations from Wikileaks’ ‘Vault 7′ leak shed a disturbing light on the safeguarding of privacy. Something already known and largely suspected has now become documented by Wikileaks. It seems evident that the CIA is now a state within a state, an entity out of control that has even arrived at the point of creating its own hacking network in order to avoid the scrutiny of the NSA and other agencies. Reading the revelations contained in the documents released by WikiLeaks and adding them to those already presented in recent years by Snowden, it now seems evident that the technological aspect regarding espionage is a specialty in which the CIA, as far as we know, excels. Hardware and software vendors that are complicit – most of which are American, British or Israeli – give the CIA the opportunity to achieve informational full-spectrum dominance, relegating privacy to extinction. Such a convergence of power, money and technology entails major conflicts of interest, as can be seen in the case of Amazon AWS (Amazon’s Cloud Service), cloud provider for the CIA, whose owner, Jeff Bezos, is also the owner of The Washington Post. It is a clear overlap of private interests that conflicts with the theoretical need to declare uncomfortable truths without the need to consider orders numbering in the millions of dollars from clients like the CIA. While it is just one example, there are thousands more out there. The perverse interplay between media, spy agencies and politicians has compromised the very meaning of the much vaunted democracy of the land of the Stars and Stripes. The constant scandals that are beamed onto our screens now serve the sole purpose of advancing the deep interest of the Washington establishment. In geopolitical terms, it is now more than obvious that the deep state has committed all available means toward sabotaging any dialogue and dtente between the United States and Russia. In terms of news, the Wikileaks revelations shed light on the methods used by US intelligence agencies like the CIA to place blame on the Kremlin, or networks associated with it, for the hacking that occurred during the American elections.
Ever since governments began banning and licensing different parts of the economy, the black market has made sure people still have access to the things they need. Unstable governments always turn on their own citizens by using price controls, heavy taxes, and even the threat of imprisonment to prop up their failing systems. As conditions inevitably deteriorate, as they have in Venezuela and Greece, the underground economy becomes invaluable to those living through the crisis. The shadow economy refers to more than just the trade of illegal goods. A grey market, for example, provides legal products that have become difficult to find. Since basic things like toilet paper, medicine, and even food have disappeared from store shelves in Venezuela, the peer-to-peer network has become the only reliable way to secure life’s necessities. In desperate situations like this, the existence of independent merchants can mean the difference between life and death. Even the value of Venezuela’s currency has started to move away from the government’s control. At one point, the official exchange rate was fraudulently set at 10 bolivars per U. S. dollar, while on the black market it was trading at 1,000 to one. This action hurt millions by suppressing wages across the country and eroding any remaining trust. Inflation has quickly become the most imminent threat to the Venezuelan people, stealing the value of their labor and savings. For years, the bolivar has experienced hyperinflation, increasing the cost of living almost exponentially. The State’s desperate response was to institute price controls, but that has only led to shortages across the board. Luckily, the unregulated markets have been able to determine the true value of goods and provide vital support for the struggling communities. Many people think that so-called price gouging is unethical, but isn’t it better to buy what you need at twice the price than to not be able to get it at all?
This post was published at Zero Hedge on Mar 10, 2017.
In many other countries, excluding the United States, corrupt bankers are often brought to task by their respective governments. The most recent example of a corrupt banker being held accountable comes out of Spain, in which the former head of the International Monetary Fund (IMF), Rodrigo Rato was sentenced to four years and six months behind bars. According to the AFP, Spain’s National Court, which deals with corruption and financial crime cases, said he had been found guilty of embezzlement when he headed up Caja Madrid and Bankia, at a time when both groups were having difficulties. Rato, who is tied to a slew of other allegations was convicted and sentenced for misusing 12m between 2003 and 2012 – sometimes splashing out at the height of Spain’s economic crisis, according to the AFP. The people of Spain were outraged over the scandal as it was discovered during the height of a severe financial crisis in which banks were receiving millions in taxpayer dollars. Bankia was eventually nationalized and given 22 billion in public money.
This post was published at Zero Hedge on Feb 27, 2017.
However, once one-off costs have been stripped out, the company’s underlying profit was better than many experts had predicted. Rolls-Royce agreed to pay 671m to settle corruption cases with U.K. and U.S. authorities and it has written off 4.4bn from currency related contracts. Like many international businesses, Rolls-Royce usually “hedges” its bets to protect itself from fluctuating currency markets, as most international aerospace contracts are priced in dollars, but, as a U.K. company, much of Rolls-Royce’s costs are in pounds. While it underlines the complicated nature of Rolls-Royce’s business – it has a 30bn currency hedging book, designed, ironically, to flatten out volatility, and has unkindly been described as a hedge fund with an engine maker attached.
In the hint that members of Trump’s administration may be “compromised” by conflicts of interest, the WSJ reports that Trump’s pick for Commerce Secretary, Wilbur Ross Jr, plans to keep millions of dollars invested in offshore entities “whose values could be affected by policies that he implements as commerce secretary.” Ross, the 79-year-old private-equity billionaire has said that if he is confirmed, he will sell at least 80 business assets and investment funds over the next several months. But he plans to hold on to investments in an oil-tanker company and 10 other entities that invest in shipping and real-estate financing, according to federal financial-disclosure and ethics filings. It isn’t clear why Mr. Ross is retaining these 11 assets. One particular assets which will raise eyebrows is a co-investment with the Chinese government’s sovereign- wealth fund in Diamond S Shipping Group Inc., one of the world’s largest owners and operators of medium-range oil tankers, according to its website. Ross’s private-equity firm in 2011 led a group of investors, including state-owned China Investment Corp., which injected a total of about $1 billion into the company. The Chinese fund was still a co-investor in 2014, according to a filing for an intended public offering that was later canceled. Diamond S Shipping Group, which is registered offshore but based in Greenwich, Conn., is private and doesn’t publicly list all its shareholders. The company, which has 33 tankers, didn’t respond to requests for comment.
This post was published at Zero Hedge on Feb 13, 2017.
Although multi-billionaire hedge fund tycoon and international political pot-stirrer George Soros lost big with the election of Donald Trump as president of the United States and the victory of the Brexit referendum in the United Kingdom, he stands to lose further ground, politically and financially, as the winds of political change sweep across the globe. Soros, who fancies himself as the master of placing short put options on stocks, often cleaning up to the tune of billions of dollars in the process when the stock values collapse, has been dealt a few financial body blows. Recently, the Dutch securities market regulator AFM accidentally revealed on line all of Soros’s short trades since 2012. Soros’s trades were revealed on AFM’s website and were removed after the regulator realized the error. However, the Soros data had already been captured by automatic data capturing software programs operated by intelligence agencies and brokerage firms that routinely scour the Internet looking for such mistakes. Among the bank shares targeted by Soros was the Ing Groep NV, a major institution and important element of the Dutch economy. After campaigning against Brexit, Soros bet against the stock of Deutsche Bank AG, which he believed would fall in value after Britain voted to leave the EU. Deutsche Bank stock fell 14 percent and Soros cleaned up. But Soros’s celebration was temporary. With Trump’s election, Soros lost a whopping $1 billion in stock speculation. Surrounded by his fellow financial manipulators, Soros explained his recent losses while attending the recent World Economic Forum in Davos, Switzerland. Soros’s mega-wealthy cronies placed their own bets against smaller Dutch firms. Those firms included Ordina, an information technology firm; Advanced Metallurgical Group; and the real estate group Wereldhave N. V.
This post was published at Zero Hedge on Jan 29, 2017.
As we warned more than 4 years ago in this article here, the criminal banking cartel’s end game involves restricting freedom of speech and curbing any criticism of their criminal banking industry by banning cash and imposing an end game of 100% digital money upon all of us. Now with the benefit of 4 more years, there can be little doubt that indeed, that the banking industry has advanced their war against all of us by accelerating their war on cash, and attempting to disguise this war on cash as a war on corruption. Any logical person would understand the vast irony in such a statement, especially since bankers are leading these false charges of a war on cash as a war on corruption, not only given the fact that the banking industry is the most corrupt industry on the planet, but also given the fact that bankers provide much of the dirty money that feeds global stock markets by laundering tons of dirty money for the world’s most violent drug cartels. Recall that in 2012, HSBC bankers had to pay a $1.9B fine for willingly laundering hundreds of millions, and more likely billions of dollars, of dirty money for the largest and most murderous Mexican drug cartels. Though HSBC CEO Stuart Gulliver unconvincingly denied approving of these transactions, any logical person would conclude that it is next to impossible for the CEO of a bank not to know that origin of the source of hundreds of millions of dollars of cash flowing into his bank. In addition to profiting handsomely by conducting business with the largest, most violent drug cartels in the world, such as the Sinaloa drug cartel, HSBC bankers were also convicted of openly conducting business with terrorists linked to Al-Queda, Hezbollah, and Russian mobsters, and for openly moving money for rogue states like North Korea and the Sudan. In fact, Jack Blum, a former US Senate investigative attorney, stated, ‘[HSBC bankers] violated every goddamn law in the book. They took every imaginable form of illegal and illicit business.’ Of course HSBC bankers were not the only bankers convicted of laundering huge sums of illicit money and profiting from this illegal act. Wachovia bankers, Standard Chartered bankers, Citibank bankers, Wells Fargo bankers, and dozens of other bankers were also found guilty of these criminal activities as well, exposing the systemic criminal nature of the banking industry.
This post was published at GoldSeek on 29 January 2017.
Having already signed a (mostly symbolic) executive order on Obamacare on Friday night, urging US agencies to “waive, defer, grant exemptions from, or delay the implementation” of provisions deemed to impose fiscal burdens on states, companies or individuals, Trump is preparing to unload a volley of many more executive orders. Courtesy of Axios, which quotes “one of the best-wired Republican lobbyists in town”, here is a preview of the initial round of Trump executive actions, some of which may hit as soon as Sunday afternoon: Look for a possible hiring freeze at executive branch 5-year lobbying ban on transition and administration officials Mexico City policy, which prevents foreign NGOs from getting U. S. family planning money if they provide abortions with non-U. S. funds. (It’s already illegal to use U. S dollars on abortions.) Task the Defense Secretary and joint chiefs to come up with plan to eviscerate ISIS Report on readiness, and something cyber security related Border/immigration: Something on sanctuary cities, expand E-Verify, an extreme vetting proposal Trade: Withdraw from TPP and a thorough review of NAFTA Axios also notes that “the Mexico City executive order could come as soon as today.”
This post was published at Zero Hedge on Jan 22, 2017.