57 Percent of Our Banks Have Disappeared: You Can Thank Bill Clinton

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Thanks to the Presidential debates, most Americans have heard of the Glass-Steagall Act which kept the country’s banking system safe for 66 years until it was repealed by President Bill Clinton in 1999, allowing the risky activities of Wall Street trading firms to merge with insured-deposit banks, setting the stage for the Wall Street collapse in 2008. But few Americans have ever heard of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, which Bill Clinton signed into law less than two years after taking office. The Riegle-Neal legislation allowed bank holding companies to acquire banks anywhere in the nation and invalidated the laws of 36 states which had allowed interstate banking only on a reciprocal or regional basis.
Put these two pieces of legislation together with the Commodity Futures Modernization Act of 2000, also signed into law by Bill Clinton, which allowed trillions of dollars of OTC derivatives on Wall Street to escape regulation, and you have just defined America’s current banking system from hell.
In 1934, there were 14,146 commercial banks with FDIC insurance in the United States. By 1985, that number had barely budged – we had a total of 14,417. But as of this month, we have 6,172 FDIC-insured commercial banks, a decline of 57 percent, with the annual declines accelerating after the passage of Riegle-Neal in 1994.

This post was published at Wall Street On Parade By Pam Martens and Russ Marte.

Hillary Avoids Testifying Again

Federal Judge Emmet Sullivan from the US District Court in Washington has ruled that Democratic Party presidential candidate Hillary Clinton does not need to give a sworn testimony in a lawsuit concerning her use of an unauthorized private email system for her work as US secretary of state. Instead, Clinton must respond in writing to questions submitted by Judicial Watch who is suing the Department of State.
The problem that her supporters ignore is that Hillary did NOT use a major service like Yahoo or Google for private emails unlike every other politician. Before Snowden came out, I was flat-out told by a member of the House Banking Committee staff to be careful what I put in emails because the NSA was even taking theirs. Why are they not producing Hillary’s emails? Is this another J. Edgar Hoover plot to keep something in the drawer as a blackmail threat?

This post was published at Armstrong Economics on Aug 25, 2016.

Dakota Access Pipeline Tensions Grow Increasingly Hostile As Officials Cut Off Water Supply, Arrest Dozens

An ongoing protest by Native American members of the Standing Rock tribe, intended to halt the construction of the Dakota Access Pipeline, got a little celebrity “love” today in Washington D. C. as Bernie supporter, Susan Sarandon, and friends decided to swing by to show their support. In July, the environmental group Earthjustice filed a lawsuit (included in its entirety at the end of this post) on behalf of the Standing Rock tribe, seeking an injunction against the U. S. Army Corps of Engineers, which authorized the pipeline’s construction. Judge James E. Boarsberg heard arguments in the case today but did not offer a ruling instead saying he would issue his opinion by September 9th with an appeal hearing set for September 14th.

This post was published at Zero Hedge on Aug 25, 2016.

More On Yesterday’s New Home Sales Fraud

As I detailed yesterday – LINK – yesterday’s new home sales report was complete fiction. Notwithstanding all of the other statistical manipulations that go into the Government’s Seasonally Adjusted Annualized Rate of sales metric, including flawed data sampling, Mark Hanson – who does cutting edge housing market analysis – reduced yesterday’s new home sales report to its essence:
A rounded 4,000 more homes sold on a Not Seasonally Adjusted basis than in June, ALL from the Southern region. This added up to a massive 72,000 month to month and 114,000 year over year Seasonally Adjusted Annualized Rate surge and headlines of ’9-year highs,’ all due to bogus seasonal adjustments that should not have applied due to the number of weekends in the month…’ – Mark Hanson, M Hanson Advisors
The 4,000 more homes sold in the South month to month more than likely results from flawed data collection, for which the Census Bureau is notorious. But even assuming that the number is good, the Government’s ‘seasonal adjustment’ sausage grinder translated that into 72,000 more homes sold in July vs June and 114,000 year over year on a Seasonally Manipulated Annualized Rate basis.
Not to pile on to what now should be the obvious fact that the Government’s new home sales report is not more credible than its employment report – both for which the Census Bureau collects the data – Credit Suisse published research earlier in this month for July in which its market surveys showed that:

This post was published at Investment Research Dynamics on August 24, 2016.

Reverse engineering Hillary’s crimes: media have it backwards

The Hillary email scandal and the Clinton Foundation scandal have been slithering, segment by segment, into public view.
And now we have ‘pay to play.’
The latest revelation, from the Associated Press:
‘More than half the people outside the government who met with Hillary Clinton while she was secretary of state gave money – either personally or through companies or groups – to the Clinton Foundation. It’s an extraordinary proportion… Combined, the 85 donors contributed as much as $156 million [to the Foundation].’
The implication is clear. ‘You want a favor from the State Department? Pay the Clinton Foundation.’
The National Review gives us the tip of the iceberg:
‘Crown Prince Salman of Bahrain wanted a sit-down with Secretary Clinton but was rebuffed; Clinton Foundation executive Douglas Band intervened through [Huma] Abedin to try to find a work-around for the crown prince, who gave donations to the Clinton Global Initiative totaling $32 million through 2010. Donations to the Clinton Foundation came in from the kingdom itself and from the state oil company. Band also intervened to secure a visa for a foreign athlete held up because of his criminal record, doing so at the behest of donor Casey Wasserman, a Hollywood sports-entertainment mogul, whose foundation has contributed between $5 million and $10 million to the Clinton Foundation…’
But let’s put all this in the right perspective. Let’s reverse engineer this. The media has it backwards.
Heading up the State Department didn’t incidentally afford Hillary the opportunity to funnel cash into the Clinton Foundation, in return for granting favors to donors. No.

This post was published at Jon Rappoport on August 24, 2016.

Great Myths and Election Entertainment

Empty-Nesters
OUZILLY, France – Poor Donald Trump. He has had to apologize for hurt feelings. He has had to reshuffle his campaign team. He has been kicked so often by the press that he is starting to hide behind chairs, like a university president. Here at the Diary, we favor lost causes, diehards, and underdogs. ‘The Donald’ may soon qualify on all three counts.
We will return to the Big Top in a moment… and elaborate on why this year’s presidential election is really a ‘Clash of Myths.’ Meanwhile, nothing much to report from the markets.
Nothing much to report from Ouzilly, either. The last of the family leaves this weekend. Then we will be empty-nesters again. Like parents everywhere, we wonder how much to interfere in the lives of our young adult children.
Say something? Or keep quiet? Offer fatherly advice? Or let them figure it out for themselves? Father tends to be more laissez faire. Mother is more activist, more interventionist. Both want to help. But both are aware that they can’t protect their children from life.
‘Wisdom is the knowledge you need to avoid serious mistakes,’ says father, gravely.
‘Where do you get wisdom?’ asks the son.
‘From making mistakes,’ comes the answer.

This post was published at Acting-Man on August 24, 2016.

US Army Pulls Training Slide Listing Hillary Clinton As A Security “Threat”

Perhaps it was the ultimate Freudian slip.
On Monday, a leaked Army operational security brief showed Democratic presidential nominee Hillary Clinton and former CIA Director David Petraeus listed as two key examples of potential insider threats. As the Daily Caller reported at the time, admins of the Facebook page ‘U. S. Army W. T. F! moments’ told The Daily Caller News Foundation this is the second time they’ve received a picture of this particular slide in the last six months. They posted the slide to their page Sunday.
The brief, marked unclassified, lists servicemembers Nidal Hassan, Chelsea Manning, Edward Snowden and Aaron Alexis as examples of threats. On the second row, the brief pictures Clinton and Petraeus. The text of ‘careless or disgruntled employees’ echoes FBI Director James Comey’s description, ‘extremely careless,’ of Clinton’s handling of top secret and classified information when she served as Secretary of State.

This post was published at Zero Hedge on Aug 24, 2016.

DRONE FOOTAGE SHOWS TOWN ‘WIPED OFF THE MAP’ AFTER ‘APOCALYPTIC’ 6.2 ITALIAN EARTHQUAKE HITS, KILLING 120

Early Wednesday morning, a devastating 6.2 magnitude earthquake strong enough to be felt more than 100 miles away in Rome, hit central Italy southeast of Norcia.
Towns across three regions – Umbria, Lazio and Marche – were hit. The mayor of Amatrice, a town in the province of Rieti where the earthquake did the most damage, says his town ‘isn’t here any more’. The earthquake has essentially wiped it off the map (see below).


This post was published at The Daily Sheeple on AUGUST 24, 2016.

Germany Debates Putting “Troops On Streets” To Protect Against Terrorism

The quiet German militarization continues to escalate.
One day after Germany’s DPA broke the news that the Merkel government is considering “bringing back nationwide conscription in times of crisis”, such as situations in which the country needs to “defend NATO’s external borders”, strongly hinting at the possibility of a future war, which in turn followed this weekend’s shocking announcement that Germans should prepare to stockpile several days of food and water “in case of an attack of catastrophe” as part of the country’s revised “Civil Defense Concept, today NBC reports that “Germany Debates Putting Troops on Streets to Protect Against ISIS.”
To be sure, plans to involve soldiers in counterterrorism operations. and the suggestion troops could also be used to beef up security in public places, have proved controversial in a country only seven decades “removed from totalitarian rule that’s still grappling with guilt from the Nazi era.” However, Wolfgang Bosbach, a lawmaker from Merkel’s CDU party, dismissed an such concerns.
“During the recent terror threat in Munich the German armed forces, and also the military police, were put on alert,” he told NBC News. “They have been deployed in other crises, so why should the military not help with domestic security as well?”

This post was published at Zero Hedge on Aug 24, 2016.

CNN ELECTION PROPAGANDA HITS HISTORIC NEW LEVEL: ‘VOTING FOR RACIST BIGOT TRUMP IS LIKE URINATING ON BLACK PEOPLE’

The level of propaganda on the mainstream news these days has reached a new level never before seen in the history of an American election. Not sure exactly when it happened, but talk to the older generation. No one who has been around in this country for more than a few decades has ever seen anything like it.
It’s become blatantly obvious in the last few months that the entire mainstream establishment media has been turned into one giant cartoonish Dr. Seussian Hillary Clinton PR machine. Now that machine has been kicked into overdrive.
On a recent CNN anti-Trump hit piece, which seems to be a daily occurrence these days on what might as well be referred to as the Clinton News Network, liberal CNN political commentator and New York Times columnist Charles Blow went off on a rant about how Trump is a bigot, and followed that claim with another about how anyone who votes for Trump is essentially voting for a racist bigot.
On Trump’s appeal to black voters, Blow said,

This post was published at The Daily Sheeple on AUGUST 24, 2016.

Four more mega-banks join the anti-dollar alliance

That was fast.
Yesterday I told you how a consortium of 15 Japanese banks had just signed up to implement new financial technology to clear and settle international financial transactions.
This is a huge step.
Right now, most international financial transactions must pass through the US banking system’s network of correspondent accounts.
This gives the US government an incredible amount of power… power they haven’t been shy about using over the last several years.
2014 was one of the first major watershed moments when the Obama administration fined French bank BNP Paribas $9 billion for doing business with countries that the US doesn’t like – namely Cuba and Iran.
It didn’t matter that this French bank wasn’t violating any French laws.
Nor did it matter that only months later the President of the United States inked a sweetheart nuclear deal with Iran and flew down to Cuba to attend a baseball game with his new BFFs.
BNP had to pay up. A French bank paid $9 billion because they violated US law.
And if they didn’t pay, the US government threatened to kick them out of the US banking system.
$9 billion hurt. But being kicked out of the US banking system would have been totally crippling.
Big international banks in particular cannot function if they don’t have access to the US banking system.

This post was published at Sovereign Man on August 24, 2016.

Venezuela Will “Purge” All State Workers Who Sign Maduro Recall Petition

Last week we reported that in addition to confiscating the guns of Venezuela’s famished population, president Maduro had a warning for would-be coup plotters (perhaps sensing that a coup is imminent): “Did you see what happened in Turkey?” said Maduro, in a televised public event on Thursday evening. “Erdogan will seem like a nursing baby compared to what the Bolivarian revolution will do if the right wing steps over the line with a coup.”
He didn’t stop here: as Bloomberg reported last week, in a replay of one of the ugliest chapters in the two-decade rule of the socialist party in Venezuela, a top government official said Thursday that a list of those who signed a petition seeking to recall President Nicolas Maduro will be handed over to government ministries and state-run companies. The tactic is clearly an attempt to intimidate government workers into staying away from the recall petition, and thus to keep Maduro in power.
‘In a revolution, revolutionaries must be in charge of state institutions, not political opponents,’ Diosdado Cabello, a top official in the ruling Socialist Party and a lawmaker, said at a rally. ‘This is not a violation of the right to work.’
Cabello has made similar threats earlier this year, but Thursday’s comments brought back memories of the so-called ‘Tascon List’ which was used by the government under then President Hugo Chavez to fire state workers and bar others from everything from jobs to loans for having signed a petition for a recall referendum in 2004 that Chavez eventually survived. The list was compiled by then lawmaker Luis Tascon and electronic versions of the list circulated throughout Venezuela even being sold by sidewalk vendors. Some Venezuelans even attempted to pay officials to be removed from the list.

This post was published at Zero Hedge on Aug 24, 2016.

This Week’s JBSFC

Another must listen hour last night with Mr. Batchelor and Professor Cohen. As The New Cold War grows in intensity and danger, it is imperative that you remain on top of the situation by listening to these weekly discussions.
Here are the show notes from last night’s program as found at John’s website: ‘… Trump alarms Americans of Eastern European ancestry for many reasons. Among them:
He has suggested that America will only conditionally live up to its obligations under the NATO charter and questioned the value of the alliance.
He’s said he’ll look into whether Putin should be allowed to keep Crimea, which he annexed with complete disregard for international law. ‘Having a good relationship with Russia is a good thing, not a bad thing,’ he said this month.
Just three weeks ago, Trump pleaded directly with the Russian government to find and release tens of thousands of Clinton’s private emails. Asked whether Russian espionage into the former secretary of state’s correspondence would concern him, he replied: ‘No, it gives me no pause.’

This post was published at TF Metals Report on Wednesday, August 24, 2016.

Hillary Calls Epipen Price Increase “Outrageous”, As Earnest Calls Mylan Greedy

As expected earlier, the staged political “outrage” at pharmaceutical price increases, a carbon-copy of events witnessed a year ago – which is ironic as everyone in Congress is very well aware why drug prices have been soaring over the past sevearl years – is unfolding before our eyes regarding the scapegoat du jour of the “greedy” pharmaceutical industry, in this case Epipen maker Mylan, where moments ago Hillary Clinton joined the fray, calling on the company to voluntarily drop the price of EpiPen, which has increased in price by 400 percent in the past decade. “That’s outrageous – and it’s just the latest troubling example of a company taking advantage of its consumers,” Clinton said in a statement. “It’s wrong when drug companies put profits ahead of patients, raising prices without justifying the value behind them.”
It is also wrong when banks and corporations donate millions to a “charity” to purchase future favors but let’s ignore that.

This post was published at Zero Hedge on Aug 24, 2016.

Foreign Staff, Dozens Of Students Trapped Inside American University In Afghanistan After Gunmen Storm Campus

American Univ. in Kabul is reportedly under attack -American teachers & hundreds of students are sheltering inside — Bret Baier (@BretBaier) August 24, 2016

Update 2: Reuters writes that foreign staff and dozens of students were trapped inside the campus of the American University of Afghanistan in Kabul on Wednesday after suspected militants attacked it with explosives and gunfire, a senior government official said.
The interior ministry official said that elite Afghan forces had surrounded the university compound, where shooting lasted for more than an hour after the assault began at around 6.30 p.m. (10:00 a.m. EDT). Witnesses at the scene said gunfire had since stopped, and special forces had made their way into the compound.
News on casualties was sketchy, but Mohammad Saleem Rasouly, head of hospitals in the Afghan capital, told Reuters that at least one student had been killed and 14 wounded. Islamist militant groups, mainly the Afghan Taliban and a local offshoot of Islamic State, have claimed a string of atrocities aimed at destabilizing the country and toppling the Western-backed government of President Ashraf Ghani.
No one has claimed the university attack yet.
Early reports suggested that several gunmen, some wearing suicide vests, were involved, the official said. “Several gunmen attacked the American University in Kabul and there are reports of gunfire and explosions,” he said. “They are inside the compound and there are foreign professors along with hundreds of students.”

This post was published at Zero Hedge on Aug 24, 2016.

German Government Instructs Citizens to Stockpile Food, Water and Prepare for Possible Conscription

I’m sure it’s nothing.
From Reuters:
Germany has told its citizens to stock up on water and food in the event of a terrorist attack or national catastrophe and be ready to support the military in the country’s first overhaul of civil defenses for two decades.
Chancellor Angela Merkel’s cabinet approved the 70-page plan at a time when Germans are particularly on edge after two Islamist militant attacks in July and several much larger-scale, deadly assaults in France and Belgium this year.
The German word for stocking up on provisions in case of an emergency is ‘Hamsterkaeufe’ and some media have mocked the plan for encouraging Germans to hoard like the small, furry animals.

This post was published at Liberty Blitzkrieg on Aug 24, 2016.

AMERICAN UNIVERSITY OF AFGHANISTAN BESIEGED BY MILITANTS

The American University of Afghanistan in Kabul, was assaulted Wednesday evening (10am ET) by as yet unnamed militants, who are believed to be either from the Taliban or an offshoot of the Islamic State. The incident began with the detonation of a car bomb at the front gate, which cleared the way for two teams of militants to enter the compound.
Many of the students managed to escape through emergency exits, but hundreds more were trapped alongside a handful of foreign teachers, which included several American professors. Though exact numbers are difficult to ascertain, it’s believed that 1 student has been killed, and 14 have been injured and sent to the hospital. Other reports suggest that an armed guard has been killed as well.

This post was published at The Daily Sheeple on AUGUST 24, 2016.

6.2 Earthquake Wrecks Central Italy, Kills At Least 120: ‘Town Doesn’t Exist Anymore’

Terremoto Amatrice-Accumoli, finora estratti dalle macerie 11 corpi senza vita – pic.twitter.com/qYbm24YR71
— Rietinvetrina.it (@rietin_vetrina) August 24, 2016

Unfortunately, it was only a matter of time. Earthquake watchers have been observing the build up of pressure and worrying about the likelihood of destructive mega-events at hot spots all around the world.
But now, a 6.2 earthquake has destroyed the lives of many people in small towns in central Italy, while it shook the capital in Rome.
At least 120 people are dead, and rescue workers are still searching for survivors and totaling the massive destruction.
As RT reported:

This post was published at shtfplan on August 24th, 2016.