Here They Go

We told you this is on their horizon.

 Kiss your cash, gold and your kids, if you have any, at night because after cash and gold your children just might be next.

China tries to limit capital flight. They are not alone. Earlier this year when certain American companies were intent on moving their head offices to Europe to get a better tax break on their overseas cash holdings, the politicians rolled out the epithets. These are dangerous control freak bureaucrats. If you sleep you will end up paying for it with more than your money.
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And now, as Reuters reports, it appears last Monday's attack on a Christmas market in Berlin, where 12 people were killed as a truck ploughed into a crowd, has given The European Commission just the excuse to tighten capital controls - specifically cash and precious metals - into and out of Europe.

It is part of an EU "action plan against terrorist financing" unveiled after the bombings and shootings in Paris in November 2015.

Under the new proposals, customs officials in European Union states can step up checks on cash and prepaid payment cards sent by post or in freight shipments.

Authorities will also be able to seize cash or precious metals carried by suspect individuals entering the EU.

People carrying more than 10,000 euros (8,413.56 pounds) in cash already have to declare this at customs when entering the EU. The new rules would allow authorities to seize money below that threshold "where there are suspicions of criminal activity," the EU executive commission said in a note.

EU officials said some of the recent attacks in Europe were carried out with limited funds, sometimes sent from outside the EU by criminal networks.

The Commission is also considering whether to set up an EU-focussed "terrorist finance tracking programme" along the lines of the U.S.-EU TFTP, which has long been opposed by EU lawmakers and privacy campaigners because it allows widespread checks on consumers' bank transfers.

The plan complements Commission proposals after the Paris attacks to tighten controls on virtual currencies such as bitcoin, and prepaid cards, which French authorities said were used to fund the bombings.

EU states backed these proposals on Tuesday. Under the deal, which still needs European Parliament approval, holders of prepaid cards would have to show some form of identity when they make payments of 150 euros or more.

But it gets better...

The Commission is also proposing common rules for the 28 EU countries on freezing "terrorists' financial resources" and on confiscating assets even from those thought to be connected to criminals.

So - cash, bitcoin, precious metals, and prepaid cards over $150 are all instruments of the "terrorists" and are now open to confiscation if you are a suspicious person... which, by their rhetoric, you are if you actually hold any of these assets.
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There answer is always the same, more tracking of the many to catch the few. Once it was $10,000. Now it's $150.

blacklistednews.com/Europe_Proposes_Confiscating_Gold_In_Crackdown_On Terrorist_Financing.

Quite Dead

Most people understand the term oxymoron.

If you look it up in Webster's you get definitions like silent thunder and inexpensive Beverly Hills attorneys. But the real meaning pops up when you couple politicians with the word urgency. Here's a quote from a well known international politician who's up for re-election next year.

Responding to rising criticism of her immigration policies after another terrorist killed innocent people, German Chancellor Angela Merkel noted:

"The Amiri case raises a series of questions, not just about the deed itself, but also about the time since he came to Germany. We will now examine with urgency to what degree state practices must be changed."

For those innocents and their loved ones it was a catastrophic event. No other definition need apply. Despite the well-plotted attempts by elites and MSM to defang so-called populism, it should be pushed even harder. Local control is just one of the appropriate answers. And that begins with it your abode and your personal being and safety. Not to mention your right to both.

Politicians usually travel with a wealth of security. But even that isn't guaranteed as in the case of the Russian ambassador to Turkey. Was that just owing to a lax of security or a purposeful lax of security? It's getting less hard to get your mind around the idea that your government would sacrifice innocents to push a policy. Understand that and you'll understand why populism is such a threat. You will also understand the absence of those WMDs.

In a feeble attempt to sooth frayed nerves, German Interior Minister Thomas de Maiziere, unwittingly or no, gave a vote of confidence for the death penalty when he said: "I am very relieved that there is no more danger stemming from this perpetrator." The more this tragedy unfolds the more it becomes clear. Merkel is just another inept politician trying to cover up her ineptitude. But ineptitude and political hemlock are the same. Both can get you quite dead.

In America it's the neocons and the stalwarts of these two archaic, impotent political parties.

Not So Deftly Over Regulated

It's not as if investors couldn't see this coming.

The U.S. dollar's been on the rise for a while now, recently hitting a 14-year high after the recent not-my-president's selection crybaby losers including apparently those members of New York's dancing Rockettes. Maybe the unemployment rate there will jump?

Supposedly, higher interest rates and the arrival of that elusive critter, inflation, that the Janet Yellen's data-driven Fed searched so long and so fervently for lend to a stronger currency. Supposedly too both are fillips for better times. In trite, shopworn Keynesian vernacular that translated into one of the longest, phoniest economic memes, consumers will do their part and create more debt by pushing up retail sales and the economy will magically re-right itself. Those damn intractable consumers. Most of them probably reside in flyover territory.

If cheaper prices are reportedly good for loony shoppers why are they not good at least in part for domestic manufacturers who use imported stuff to make their products? Are they loony, too? So the caterwauling over a rising buck has cranked up, much of it directed at the president elect's expected programs. The man hasn't even take his oath of office yet and you have one of the worst occupants of the White House in this nation's relatively young existence hopefully riding into historical oblivion in a fortnight or so and the hand wringing is already over the top.

Trump and his outlook has been called delusional, among some other well-plotted epithets. But the current resident White House golfer thinks he would have scored a third term if election laws were different. Some elected officials apparently continue to do drugs while in office. Some election laws need to be changed, but the College of Electoral votes isn't one of them. Banning any and all prospective presidential candidates from playing golf while in office, however, is one sorely needed.

The number one deterrent to homegrown manufacturing jobs is over regulation not a strong dollar. Now for those economic geniuses from Ivy League Land who love to recite their favorite con--"It's oversimplified, too small or simple to be significant."--we will repeat that point. The real bogeyman is over regulation not a strong currency. These are people who mostly in their careers never wrote a simple, straight forward declarative sentence like: "Billy hit a home run. He deftly touched all the bases on his way home." The next time an econometric-model trained economist does anything deftly will be the first time.

Color consumer confidence among the signs that things are looking up. As the Wall Street Journal  today reports: "Americans grew more optimistic about the economy in December, a sign that the postelection bump in confidence continues. The Conference Board said Tuesday its index of consumer confidence rose to 113.7 in December up from a revised 109.4 in November. Economists surveyed by The Wall Street Journal expected the index to rise to 109.8 in December. The December reading was the highest since August 2001."

So as the New Year and a new president looms things are getting muddier and muddier. Make that your investment theme for 2017 and you should do just fine.

Overnight

The dollar gained back some ground overnight despite many markets Monday were closed for the season holiday.

A weaker yen lifted theNikkei 225 0.3% while the Shanghai Conmposite fell 0.2%, the Hang Send dropped 0.3% and the MSCI index of Asian-Pacific shares exclusive Japan remained flat. Markets in Hong Kong,Australia and New Zealand were closed. The Kospi was up 0.18%.

Gold, according to the Wall Street Journal, edged slightly higher. 0301 

Spot gold prices are slightly higher in Asia hours, with trading choppy and lacking conviction amid no clear drivers in the holiday season. Gold likely will trade in a narrow band this week, barring no major unexpected international developments. “Definitely when people come back, they will reposition themselves,” says Helen Lau of Argonaut. Ms. Lau expects returning traders considering gold bets will look at such factors as U.S. dollar strength and macroeconomic data signaling the health of the U.S. economy, terrorism, and tensions between China and the U.S. Spot gold prices are last up US$2.95, trading at $1,136.12/oz.

Overnight

The Nikkei benchmark is up 2% this year, but trading  was thin Monday around Asia as the Nikkei 225 fell 0.2% to 19,395.99 in early trading after the market in Japan was closed on Friday as thin trading around the Christmas holiday held sway with some markets in the regions still closed.

Japanese stocks are expected to close out the year in positive territory for 2016 even as volume remains thin,some analysts have noted.In other markets the Shanghai Composite index was off 1%; the Kospi up[ 0.01%; and Taiwan's market was higher by 0.2%. The Wall Street Journal reported: Asian shares were a mixed bag on Monday as trading volumes were thin because of the Christmas holidays, with some major markets in the region still closed.. Markets in Australia, New Zealand, Hong Kong were closed.

As attention shifts to the U.S. with its new administration set to takeover in early January and the threat of a rising dollar,inflation and rising interest rates investor confidence has picked up in recent weeks. Reurers noted such overnight,saying: Japanese equity markets have surged in the four years since Prime Minister Shinzo Abe took office, with the Nikkei hitting an almost two-decade high in June 2015, on hopes his Abenomics policies of monetary stimulus, fiscal expansion and structural reforms would end decades of deflation and stagnation. Japanese equities have been underpinned by the yen's weakness against the dollar on expectations that the incoming administration would boost economic growth and inflation via increased infrastructure spending, tax cuts and reduced regulation.

After a long year of expected interest rates hikes the Fed has delivered just one as it has repeatedly overestimated the strength of the U.S. economy in the eyes of many. Fed Chair Janet Yellen at her last public economic powwow noted that three rate hikes are in store for 2017. Given that we now know most of the jobs the Obama administration created were part-timers with few or no benefits that might be a stretch, to say the least. Art for art's sake is one thing, but normalizing the economy just to be normalizing it is another. Yellen also has lame duck written all over her, so geopolitics might prove surprising in the new year. And so might the prices of gold and oil.

Hello Hypocrisy

 
 How quickly hypocrisy shows up.

It seems there are others who might want to protect themselves from what could be an oppressive government not to mention just common thieves, hoodlums and possible terrorists. It is also interesting who gets to define hate crimes. Even more interesting is that the previous administration with its political correctness were viewed as being inconceivable of hating anyone like anyone who differed with them. Seems there were 55 or so million who voted in those so-called fly-over states felt someone in the administration seriously disliked them.

And that excludes those in the blue states who voted against more of the same. Or those in the DNC who were seen on national television claiming they hated stupid white people or anyone else who voted red.
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When it looked all but certain that Hillary Clinton was going to win the presidency, nervous gun rights advocates reported stockpiling guns and ammunition they feared would no longer be available if the Democrat won the White House.

The threat of Clinton presidency, along with several recent mass shootings, had led to 18 straight months of records in the FBI’s National Instant Criminal Background Check system for people seeking a permit to buy a firearm. Many were concerned the government would enact regulations restricting their access to guns.

But since Republican Donald Trump, who was endorsed by the National Rifle Association and supports gun rights, won the White House in November, gun shops anticipated sales would taper off. Shares in major gun companies fell, anticipating a slowdown.Yet that doesn’t seem to be the case: On Black Friday this year, NICB processed a record 185,713 background checks — the most ever on a single day in the 20 years the system has existed. And some of those gun buyers are what the industry calls “non-traditional.” Namely, minorities, gay people and self-described liberals.

“In the more conservative gun world, there is definitely a feeling that liberals hate guns,” Liberal Gun Club spokesperson Lara Smith told the BBC. She said there as been a spike in inquiries to her organization after Trump’s election and that paid membership has increased 10 percent. People have expressed concern that an increase in hate crimes since Trump’s election could escalate into something more violent, Smith said, and they want to be prepared.

“Yes, there are liberals who dislike guns, but the vast majority of them have never been around guns and don’t know much about them other than what they are told,” Smith wrote on her organization’s website.

Smith said she has been working with other non-traditional gun groups like Black Guns Matter and Pink Pistols. Pink Pistols promotes “legal, safe, and responsible use of firearms for self-defense of the sexual-minority community.” The group, which has 45 chapters nationwide, calls itself a shooting group that “honors diversity” and “teaches queers to shoot.” Although it has worked in conjunction with the NRA, the Pink Pistols considers itself non-partisan.

mcclatchydc.com/news/politics-government/article.

Don't Lose Focus

Yea, it's the season for celebrating the holidays. And we hope everyone does. But it's not a time to lose focus.

We've been saying for the longest time that the two-party monopoly is broken. That the industrial-military, pharmaceutical, Wall Street, elitist, wealthy, Hollywood, MSM, agricultural and educational strangle holds need to be broken and buried if this nation is really going to move forward. And make no mistake about it, PC is the exact antithesis of moving forward. You can legislate hate but never love.

PC with its zero tolerance is about hate, the absence of any latitude or mitigating circumstances. It's a one-way cattle chute headed to some cattle cars headed to Treblinka. It's one of the most dangerous elements with government sanctions afoot today and it will if not stopped tear this nation apart. The real enemy of the masses is the two-party system, funded for the most part by elites, corporations and Wall Street. That must stop.

Here is an interesting read by someone who apparently gets it. We don't know and have never met this person. As we've said enjoy your holiday. But come January 2 the rubber will again start meeting the road. So if you can take a few minutes of your holiday time to read the article.

#5 Eliminate All Taxes Less the Fractional Tax on All Transactions. The tax code is a how Congress extorts money from banks and corporations seeking exemptions and special treatment. Simplifying it is not going to increase your revenue and is not going to change the fact that we are not taxing 80% of the transactions including stock and currency transactions. Kill the entire tax code and eliminate the Internal Revenue Service (IRS). You can double government revenue by imposing a tiny fractional transaction tax on all transactions. Edgar Feige, the University of Wisconsin professor who has documented the simplicity and the utility of this approach, is available to brief you personally. Note: this is probably the one thing that your Goldman Sachs nominees have been ordered to sabotage – this is their loyalty test. 
 
#6 You are surrounded by traitors – financial, ideological, and religious. The Federal Bureau of Investigation (FBI) is a theatrical agency. It has not been allowed to go after traitors within the USG (I estimate 500 not now being investigated) or across our nation-wide commercial, industrial, and our scientific & technical networks (I estimate 5,000 not now being investigated). It is not possible for you to be effective in devising strategy, making policy, and managing the budget if you are undermined from within. Within the FBI itself there are secret societies including the original pedophile protective association started by FBI Director J. Edgar Hoover, himself a rampant pedophile and cross-dresser – each generation hand-picks and promotes the next generation of “protectors.” Other secret societies within the FBI respond to the Vatican, to Israel, and to Wall Street. Within NSA and CIA there are numerous traitors who consider it their primary duty to spy on US politicians including the President, and who use blackmail to protect their budgets and their ability to run drugs, guns, money, and children, often leveraging military assets conscripted for “sensitive” programs. Sensitive, indeed. The FBI needs to be scrubbed, and then unleashed, with its budget tripled, toward the below priorities.

themindunleashed.com/2016/12/former-cia-spy-surprising-christmas-message-trump.

Sound Right To You?

 
It's that time of year again. Roll out the old and roll in the new.

George Wallace, the former Alabama governor who underwent a change in his views, once noted about the two political parties: "There's not a dimes' worth of difference between the two."

Wallace was more than correct, but that was a long time ago and there's been much debasing of the currency since then as dimes, as are nearly all coins today, no longer in the monetary vernacular of most folks. Today it's probably the soon to be absent $100 bill of difference. But Wallace's assertion is no less true today than it was then.

Donald Trump is an anomaly. That's just one reason why he's been so despised. Anomalies are unknown, unpredictable. And until they become predictable that's really scary, especially for the entrenched. Most likely Trump will become predictable and as the old saying goes the more things change the more they remain unchanged. Another danger with anomalies is if they know where all the skeletons are interred and how the game gets played.

So it's more than highly unlikely the huge global debt that's been piled up over the last generation or so will ever be repaid. If you're an investor that poses a problem. If you're just a commoner, to use a old term, it poses much more. It was the commoners who took the brunt of the zero and negative interest rate blows. That too is an old game. Stick it to the commoners, kick the debt can down the road and celebrate your elitism.

Here's a quote for today's Financial times about interest rates and their effects on commoners.
Chris Hitchen, chief executive of the UK railway pension fund RPMI Railpen, says: “It is much harder to get returns today because yields are low. It takes decent returns as well as decent contributions to make decent pensions. This involves some risk. 

“We have risk systems in place to try to ensure we do not get into a position where we are forced sellers. In the event of falling markets, we want to be in a position where we have enough liquid assets to pay our pensions and firepower to invest at lower prices.”
RPMI has investments in quoted shares, real estate, infrastructure, private equity and hedge funds, all considered riskier than government bond
Who owns pension and retirement funds via their employers, commoners.

If inflation returns in any meaningful way--and it will--the commoners will take the hit again. It's a bit discouraging, to say the least, when one gets it coming and going. Of course, the naysayers and deniers will be out there pushing their political pablum about how much they care about you. You won't need a program to recognize them. You can easily do that by noting their all members of these two jejune political establishments that want nothing more from you than your vote and your money if you have any. And most of you don't.

Banks in the pockets of politicians make this happen. You put your money in banks and then they dictate how much and essentially how often you can take it out. It's your money. You sign up for a credit card that is connected to a specific bank and then that bank shares your data with whomever it wants and tells you why you have no control of your private information and the next thng you know you're being inundated by other commercial pests wanting you to buy their products. All because you chose to finance one purchase with one vendor not the whole damn commercial  world.

Sound right to you?  So spend your money carefully this holiday season and know that you have no moral or ethical responsibility to bail out an economy that Keynesians, bankers and politicians screwed up. One of the biggest Keynesians reportedly just went to all cash. That's why they call it semi-free markets.

Happy Holidays.

Watch Out

As we move into the holiday season further toward celebrating the New Year, Barron's featured an article, "Everything's Going to Go Right," by recalling former Wall Street technician and guru Bob Farrell line about: "When all forecasters and experts agree, something lest is going to happen."

After two huge shocks--one could even say three, with the negative opening of market at the beginning of 2016 caught quite a few off guard--in the election areas, projection for 2017's market sit in a fairly narrow range. Given the market's reaction to the Trump surprise--it was really only a surprise to those who had their craniums buried somewhere the sun never shines--stocks, bond yields and the greenback are all up.

Now the gurus have their 2017 outlook set on the real so-called new normal, investors and things will behave rationally. Sounds to us like a bunch of Harvard-trained econometric model slaves who have predicted seven of the last three predictions. Almost guaranteed to be incorrect. A Republican- controlled Congress will carry out to the letter of Trumpenomics, volatility will remain docile and the inflation that the current set of pathetically incompetent bureaucrats at the Fed searched for but could never find will arrive front, center and still breathing.

The recent interest rate hike will sooth the souls of investors remains to be seen, just as how all the Smoot-Hawley fears will play out. Our reaction is the reaction about protectionism and its potential ugly head rising up is way overdone. Technology often is the excuse given for jobs disappearing as if its all good when it isn't. That technology often brings higher costs not lower prices, fewer choices and actually way poorer services. Save your Luddite comparisons for your converts. Just call up one of your favorite corporations and see if those robot answered menus haven't gotten longer and longer and how their so-called call volume has increased not just during a holiday period or tax season but all year around.

Meanwhile, China faces a capital flight and fake news problems as other markets face similar disturbances and U.S. consumers will be showered with more opportunity to buy and store more imported junk in their garages if they've been able to afford owing one, and the neocons still lurk behind their favorite bushes. Given that and a host of of problems around the globe too numerous and perhaps too boring to mention here, one could say the fix is in. If you like to be hated, try this when  it comes to sectors. Among the Wall Street 2017 forecasters Barron's recently wrote about, nine of  the 10 gurus suggested avoiding consumer staples.

Former President Eisenhower noted probably long before Bob Farrell ever said it: "When everyone is thinking the same thing, nobody is thinking." So the ducks floating on Serenity Lake all seem to be lined up per the guru crowd, a quite amazing result and turn around given the furor that lashed away for nearly the full of  2016 at Trump's coattails. The moral of the story if there is one, if you own a hard hat liner or helmet, it might be prudent to keep it handy, hanging near the favorite door you use to egress and ingress your abode or office.

Chest-To-Chest

Another arrogant elected official who thinks he knows what's best for everyone. And a leftist columnist who has a better sense of truth.

This is a left winger who has some sense of what's happening and the dangers of PC run amok. This is hardly to commend him. The intolerance on the left is beyond the pale and it is why this nation is headed for huge trouble.

We're not Christians, but the hatred for that group from the left is palpable and the irony is a large portion of African-Americans are members of that faith. And unless we are mistaken, quite a few are Hispanics.Then you get this from an elected official, urging people to vote against an election he himself claims was won fairly. Just one more Harvard elitist.

We are saying this and we are not backing off. This man is a disgrace to his office, to the people of his state and to the nation. Though his state didn't vote for Trump there were decent citizens and voters there who most likely did. So Mr. Congressman, you are a disgrace and we will gladly tell you this chest-to-chest anywhere on the globe. Just pick a spot. This is not a threat, just a promise. This is precisely why the article below has some understanding what's at risk in this nation with the PC BS.

So pick up the gauntlet, sir. Let's get this party out in the open. You don't get to define unhinged for the rest of us, sir. That's one of the basic issues here. Your party lost. I don't care if you're in DC or  Brussels. As long as I stay out of your state--The Constitution State, what a joke--you don't get to tell me anything, sir. We can discuss that issue chest-to-chest, too, sir.
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A Democratic lawmaker is desperately lobbying the Electoral College to shun Donald Trump, and vote for Hillary Clinton — even though he conceded Monday that the Republican won the election “fair and square.”

The plea from Rep. Jim Himes (D-Conn.) comes a week before the Dec. 19 vote, which is expected to affirm the results of the Nov. 8 election, in which Trump beat Clinton with 306 Electoral College votes.

“We’re 5 wks from Inauguration & the President Elect is completely unhinged. The electoral college must do what it was designed for,” Himes wrote Sunday night on Twitter in response to Trump’s gripe that NBC “Nightly News” is “biased, inaccurate and bad, point after point.

In an interview Monday on CNN’s “New Day,” Himes said that Trump’s refusal to say that the Russians hacked Democrats during the election was what prompted his plea to the Electoral College.
“What finally pushed me over the edge was when the president-elect of the United States criticized the CIA and the intelligence community. Can you imagine what the leaders in Beijing and Moscow and Tehran are thinking as they watch the next president of the United States delegitimize and criticize his own intelligence community and stand up for the defense of Russia, one of our prime adversaries,” said Himes.
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After Donald Trump’s election, some universities echoed with primal howls. Faculty members canceled classes for weeping, terrified students who asked: How could this possibly be happening?

I share apprehensions about President-elect Trump, but I also fear the reaction was evidence of how insular universities have become. When students inhabit liberal bubbles, they’re not learning much about their own country. To be fully educated, students should encounter not only Plato, but also Republicans.

We liberals are adept at pointing out the hypocrisies of Trump, but we should also address our own hypocrisy in terrain we govern, such as most universities: Too often, we embrace diversity of all kinds except for ideological. Repeated studies have found that about 10 percent of professors in the social sciences or the humanities are Republicans.

We champion tolerance, except for conservatives and evangelical Christians. We want to be inclusive of people who don’t look like us — so long as they think like us. I fear that liberal outrage at Trump’s presidency will exacerbate the problem of liberal echo chambers, by creating a more hostile environment for conservatives and evangelicals. Already, the lack of ideological diversity on campuses is a disservice to the students and to liberalism itself, with liberalism collapsing on some campuses into self-parody.

At Oberlin College soon after the election, students erupted in protests after a local bakery was accused of racial profiling of a black student in a shoplifting case. The student senate endorsed a boycott of the bakery, and demonstrators carried signs calling the owner a racist.

But allegations of a pattern of racist behavior were undermined by police records showing the overwhelming share of people detained for shoplifting at the bakery were white. This may actually have been a case of liberal hysteria.

Some of you are saying that it’s O.K. to be intolerant of intolerance, to discriminate against bigots who acquiesce in Trump’s record of racism and misogyny. By all means, stand up to the bigots. But do we really want to caricature half of Americans, some of whom voted for President Obama twice, as racist bigots? Maybe if we knew more Trump voters we’d be less inclined to stereotype them.

zerohedge.com/news/2016-12-12/new-york-times-slams-liberal-bubble-safe-spaces-across-americas-college-campuses

nypost.com/2016/12/12/congressman-begs-electoral-college-voters-to-block-trump

Overnight

It might come as a surprise to many but as the Wall Street Journal is reporting:

One of central banking’s most aggressive easers—the Bank of Japan—may soon have to think about tightening for the first time since 2007.

The latest buzz in Japanese monetary-policy circles is that the BOJ may have to lift the 10-year government-bond target from the latest cut to zero.

It wouldn’t be the first to blink. On Thursday the European Central Bank, which like the BOJ has driven interest rates down and pumped cash into the economy with vast bond buying, announced that its continued easing would be combined with some tightening.
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The dollar gained on Monday as a near-certain interest-rate increase by the Federal Reserve was set for later this week when the Federal Open Market Committee meets. The Nikkei 225 was up for the fifth day overnight partly owing to the weak yen and the expected rise in interest rates later this week by the Fed. The index edges 0.8% higher to 19,155.03, it's highest closing sine December last year The broader Topix added 0.4 percent to 1,531.43 and the JPX-Nikkei Index 400 advanced 0.4 percent to 13,712.76. The Hang Send was up 1.44%; the ASX was higher 0.04%; the Kospi up 0.13%

China has it's own problems as investors shun markets there government crack down on insurance companies buying stocks and some comments out Sunday by Trump. The Shanghai Composite Index ended down 2.5%, the biggest one-day drop in percentage terms since June 13, with nearly 1,000 stocks in the red. The Shenzhen Composite Index ended 4.9% lower, the biggest daily drop since Feb. 29. Oil prices jumped in early Asian trade, as investors react to the weekend's news of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries led by Russia arriving at their decision to cut in Vienna, a first since 2001. The deal will help to ease a global supply glut after more than two years of low prices. U.S. crude rose 4.76% at $53.95 a barrel while Brent crude leaped 4.2% to $56.61.

Gold was off 0.58%,trading at 1152.90, -6.80.

Another MSM Confidence Builder

They missed it. Badly. It was obvious. But in the land of of the blind, one eye is better than MSM and their controllers.

What do you do when you miss the obvious? Well, if you are the elites and MSM you get vindictive as hell, lash out at false bogeymen and create more fake news.
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Fox Business host Maria Bartiromo slammed the establishment and members of the media Sunday, saying they failed to see the economic issues that mattered to Americans during the presidential campaign.
“Obviously the elites, the establishment, the media, they had no idea what the people wanted and had no idea where the people were in terms of economic issues, in particular jobs,” Bartiromo said on the "Cats Roundtable" on 970 AM in New York. The "Mornings with Maria" host emphasized that the 2016 election was about "the working man and woman."

“I think it was very much about the working man and woman. And I think there’s a big portion of the population out there who was saying, 'You know that, I’m the forgotten man and woman. I’m the one who has not seen their wages move in 20 years,’” she told host John Catsimatidis.
The Fox Business host noted that investors are seeing that “the Trump plan is a growth plan,” and the incoming administration’s changes will pass through because of the “Republican sweep.”

“Businesses are sitting on cash because, before the election, they didn’t know what was around the corner. They were getting just strangled by regulations,” she said.

thehill.com/homenews/campaign/309831-bartiromo-media-had-no-idea-what-economic-issues-mattered-to-americans

Hack Some More

This from today's Wall Street Journal. It should inspire some real confidence in you about the accuracy and credibility of the Central Intelligence Agency.

They now give the American public two actual reliable news sources, MSM and the CIA.
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If the CIA really does have “high confidence” about Mr. Putin’s motives, this would also be the first time in recent history. These are the same seers who missed the Russian invasion of Crimea, missed the incursion into southern Ukraine, and missed Mr. Putin’s foray into Syria. The intelligence community also claimed “high confidence” in 2008 for its judgment that Iran had suspended its nuclear-weapons program. That judgment conveniently shut down any further Bush Administration action against Iran. But a year later, in the Obama Administration, our highly confident spooks disclosed Iran’s secret Fordo underground facility.

wsj.com/articles/russian-hackers-and-american-hacks-1481499091?mod=trending_now_

Hack This

If you really want to know about how phony the MSM uproar about Russian hackers causing the surprising recent election results is, here's an example. There was no hacking. But there were leaks. Most likely tied to some who possibly paid for them with their lives.

Logic would tell anyone with even a modicum of sense those higher ups in the DNC, including their psychopathic leader, are not going to come out and admit they just screwed up. Scapegoats come in handy. Especially foreign ones like those evil Russians the neocons so desperately want to start a war with.

Authored by Craig Murray, a former British ambassador to Uzbekistan, and was the Rector of the University of Dundee

I have watched incredulous as the CIA’s blatant lie has grown and grown as a media story – blatant because the CIA has made no attempt whatsoever to substantiate it. There is no Russian involvement in the leaks of emails showing Clinton’s corruption. Yes this rubbish has been the lead today in the Washington Post in the US and the Guardian here, and was the lead item on the BBC main news. I suspect it is leading the American broadcasts also.

A little simple logic demolishes the CIA’s claims. The CIA claim they “know the individuals” involved. Yet under Obama the USA has been absolutely ruthless in its persecution of whistleblowers, and its pursuit of foreign hackers through extradition. We are supposed to believe that in the most vital instance imaginable, an attempt by a foreign power to destabilise a US election, even though the CIA knows who the individuals are, nobody is going to be arrested or extradited, or (if in Russia) made subject to yet more banking and other restrictions against Russian individuals? Plainly it stinks. The anonymous source claims of “We know who it was, it was the Russians” are beneath contempt.

As Julian Assange has made crystal clear, the leaks did not come from the Russians. As I have explained countless times, they are not hacks, they are insider leaks – there is a major difference between the two. And it should be said again and again, that if Hillary Clinton had not connived with the DNC to fix the primary schedule to disadvantage Bernie, if she had not received advance notice of live debate questions to use against Bernie, if she had not accepted massive donations to the Clinton foundation and family members in return for foreign policy influence, if she had not failed to distance herself from some very weird and troubling people, then none of this would have happened.

The continued ability of the mainstream media to claim the leaks lost Clinton the election because of “Russia”, while still never acknowledging the truths the leaks reveal, is Kafkaesque.

I had a call from a Guardian journalist this afternoon. The astonishing result was that for three hours, an article was accessible through the Guardian front page which actually included the truth among the CIA hype:

The Kremlin has rejected the hacking accusations, while the WikiLeaks founder Julian Assange has previously said the DNC leaks were not linked to Russia. A second senior official cited by the Washington Post conceded that intelligence agencies did not have specific proof that the Kremlin was “directing” the hackers, who were said to be one step removed from the Russian government.

Craig Murray, the former UK ambassador to Uzbekistan, who is a close associate of Assange, called the CIA claims “bullshit”, adding: “They are absolutely making it up.”

“I know who leaked them,” Murray said. “I’ve met the person who leaked them, and they are certainly not Russian and it’s an insider. It’s a leak, not a hack; the two are different things.

“If what the CIA are saying is true, and the CIA’s statement refers to people who are known to be linked to the Russian state, they would have arrested someone if it was someone inside the United States.

“America has not been shy about arresting whistleblowers and it’s not been shy about extraditing hackers. They plainly have no knowledge whatsoever.”

But only three hours. While the article was not taken down, the home page links to it vanished and it was replaced by a ludicrous one repeating the mad CIA allegations against Russia and now claiming – incredibly – that the CIA believe the FBI is deliberately blocking the information on Russian collusion. Presumably this totally nutty theory, that Putin is somehow now controlling the FBI, is meant to answer my obvious objection that, if the CIA know who it is, why haven’t they arrested somebody. That bit of course would be the job of the FBI, who those desperate to annul the election now wish us to believe are the KGB.

zerohedge.com/news/2016-12-11/former-uk-ambassador-blasts-cias-blatant-lies-shows-little-simple-logic-destroys-the

Capital Control

If you want to get an inkling of what a cashless society will feel like, look no further that Macau, the Chinese city noted for its casinos.

The Chinese government in general as do most governments worry about capital flight. When the masses get concerned about stability or the lack of opportunity, they often try to move their money off shore. Reasonable enough unless you're a government that loves to screw things up and live to discourage or prevent anyone from talking about it.

The Chinese have been flooding the U.S. and other so-called Western democracy with money for some time. Talk to your local realtor, especially if you live near the coasts. All cash deals from Chinese buyer are so common one might suggest they've propping up the real estate market and driving prices higher.

According to one story, the South China Morning Post recently noted that the daily restriction limit on withdrawals at local ATM's for one bank there was cut 50 percent. In short, they just limited how much a customer can withdraw from his or her account in any 24 hour period. Recall ATM daily withdrawal rates are already limited.

It should strike you that these banks don't impose in the main limits on how much you can deposit each day. This is about using your money and control. Capital flight can happen in more than one place. Just don't mention it in earshot of your local banker or those elected officials the bankers have bought off.

So it's not just an American thing. It's an endemic human thing. People want to control their own money, not some committee of government bureaucrats hundreds or thousands of miles removed. Snoozing creates its opposite, losing.

Known Liar

It never ceases to amaze. This guy ought to be ashamed of showing his face in public. He's been discredited and self-confessed and known liar about his famous escapades in the media.

We are repeating this--known liar. Mr.Williams, here's to your face. You are a known, disgraced liar.
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Now this is rich.  Brian Williams, the disgraced ex-NBC journalist who was literally fired for falsely reporting that he was in a helicopter during the Iraq war that took on combatant fire, is now going on a crusade against "fake news."  On his MSNBC show last night, Williams decided to attack retired General Flynn and Donald Trump for spreading "fake news" via their twitter accounts.

"The retired Army 3-star general has passed on some gems himself.  Here are a few...Flynn retweeted accusations that Clinton is involved with child sex trafficking and has "secretly waged war" on the Catholic Church, as well as charges that Obama is a "jihadi" who "laundered" money for Muslim terrorists.

As we talked about here last night, fake news played a role in this election and continues to find a wide audience.  A BuzzFeed news study of Donald Trump's own tweets where they followed back news stories to their root source found more of them came from Breitbart originally than any other single source."

You want to read some real fake news. Here's some Mr.Williams concocted himself over the years.

zerohedge.com/news/2016-12-09/nbcs-fake-news-king-brian-williams-launches-crusade-against-fake-news

The Big Ball

The globalization freaks will never it seems give up their freaking.

In house globalization freaks reside aplenty in MSM, especially places like the Washington Post, the  LA and NY Times and the bloated, rather gassy, if we don't say, Financial Times, not to mention many fake news websites.

Since the golden goose turned wan and pale and more than a bit sickly they continue to come up with excuses like ice cream in an old-time sundae topped with reasons why just a few minor adjustments will get Cinderella back to the Big Ball.

It ain't going to happen. And it shouldn't unless you want to continue the present and continue to be sidestepped and left out.These are chosen clueless zealots. Make no mistake. Look soon for anyone  who questions their religion, much like climate change, to be labeled a fake news member. Their religion--a it's a longstanding common one-- is lining their pockets not yours with money.

The world is facing the “first lost decade since the 1860s”, said Bank of England governor Mark Carney this week. Arguably good for soundbite of the day, but the buck stops there. The only way that buck could have kept rolling would have been for Carney to take a critical look at himself and his employer(s), but there was none of that.

The Canadian import governor has no doubts about anything he’s done, or if he does he shows none. Instead he puts the blame for all that’s gone awry, on some -minor- elements of what he think globalization means, not with the phenomenon itself, or his enduring support for, and belief in, it. The problem with that is it’s indeed belief only; he can’t prove an inch of what he says.

Globalization is an act of faith inside a politico-economic belief system, and all it needs according to Carney and many others in his ‘church’ is a little tweaking. That globalization itself could be the driving force behind Brexit, Trump and the defeat of Italian PM Renzi does not enter into the faith’s ‘thought’ system.

Neither does the possibility that globalization is what it is, in and of itself, a process that in the end cannot be tweaked. That globalization is simply yet another form of centralization that follows the same rules and laws all other forms do, where power and wealth always, of necessity, wind up in the hands of a few, through pretty basic centrifugal forces.

People like Carney will insist that globalization spurs growth, right up to the moment where they’re either voted out or fired. And they’ll probably keep on insisting until their dying days. But why are we in that “first lost decade since the 1860s” then? Is that really only because ‘we’ failed to “redistribute some of the benefits of trade”, something that can allegedly be easily rectified by enabling workers to ‘acquire new skills’?

Where is the proof for that? And why have economies stagnated in the middle of the entire process of globalization? Is that solely because ‘some of’ the benefits were not distributed well enough? If that is so, and wealth distribution is the only problem with globalization, at what point do we redistribute ourselves into the realm of communism? Where’s the dividing line? It all feels mighty vague and unsatisfactory, and not a little goal-seeked.

Like a large part of the Brexit voters in Britain, millions of Italians have been on the losing side of globalism’s ‘benefits distribution’. And this weekend they found an outlet for their frustration about it. Like Brexiteers voted against Cameron and Osborne much more than they voted for anything in specific, and Trump won because Americans are fed up with the Obama/Clinton/GOP model, Italians voted against PM Renzi and his idea to take power away from parliament and give it to him.

Judging from poll numbers, they also seem to have gained confidence in Beppe Grillo’s, and the Five Star Movement’s, ability to do something real in politics. It has taken a while, and that makes sense because the movement doesn’t fit the model of politics as they’ve known it all their lives.

theautomaticearth.com/2016/12/more-talk-about-more-growth-and-more-globalization