France Folds; Suspends Shipment Of Russian Warship – NATO Allies Pleased

France is suspending the delivery of the 1st of 2 hulking Mistral warships to Russia amid security concerns about Moscow’s actions in neighboring Ukraine, AP reports President Francois Hollande’s office said Wednesday. Hollande’s change of mind – as he begs Draghi to devalue the EUR and Schaeuble to lift the deficit limits in Europe – comes at a time when the French economy can hardly cope with losing a few billion (which he previously said was too costly to cancel) but as he explains, Russia’s recent actions harm “the foundations of security in Europe.” We will see what Hollande got for this… or how he was blackmailed – but for now NATO allies have commented that they “welcome the French Mistral sale suspension.”
Despite a possible cease-fire in Ukraine, “the conditions that would allow France to authorize the delivery of the first Mistral-class ship aren’t met as of now, ” the Elyse Presidential Palace said in a statement released after a gathering of country’s defense council around Mr. Hollande.

This post was published at Zero Hedge on 09/03/2014.

Ukraine May Need Additional Bailout of $19Bln if Hostilities Continue: Agency Citing IMF

Ukraine may need an additional international bailout of $19 billion if the civil conflict in the east of the country continues into next year, Reuters reported Tuesday citing the International Monetary Fund’s (IMF) detailed review of its Stand-By Arrangement for Ukraine.
“The IMF warned that if the fighting continued into next year, Ukraine may need as much as $19 billion in additional financing from donors,” the agency said.
The fund said its next disbursement of the $17-billion bailout for Ukraine would be in mid-December and will amount to approximately $2.7 billion.
Ukraine is on the verge of a default, with the country’s authorities trying to rescue its economy with international loans.

This post was published at RAI Novosti

What Eric Cantor Is Really Going to Do on Wall Street

Today brings the utterly unsurprising news that Eric Cantor is headed to Wall Street.
The ousted House majority leader and longtime friend of the financial industry is joining Moelis & Company as a vice-chairman. His paycheck? At least $1.6 million in 2015, plus a million-dollar signing bonus. His duties? To “compete for business and advise corporate and investor clients on takeovers and other deals,” according to The Wall Street Journal. But I get the feeling that won’t be all Cantor will be doing, given his relationships on the Hill and total lack of investment-banking experience.
But how does influence-peddling work in 2014? What do these politicians really do when they end up on Wall Street? To shed some light on those questions, I spoke this morning with Dennis Kelleher. He’s a former corporate lawyer and longtime Senate staffer who now heads the nonprofit Better Markets, the banking lobby’s lonely public-interest opposition in Washington.

This post was published at NY Mag

The September Start of War

QUESTION: Mr. Armstrong; The fact that you gave us all warning of the turn in the Cycle of War coming in 2014 back at the 1998 conference and at 2011 conference, was truly amazing to watch how this has all worked out. But the stunning realization that you pinpoint Ukraine as the flash point and then said it will turn up in September which has arrived with the Russians openly invading Ukraine, I just do not know how anyone from the goldbugs to government cannot appreciate what you have done with analyzing time. They expose their own stupidity and bias by trying to criticism you on a personal level when you have shown us this is not opinion or just outright ignore you and hope you go away. People should be supporting your work and the sooner you go public the better.
Do you have any idea what makes this all work so precisely? The ECM picks events to the day, but you said this war in Ukraine would turn up starting in September. Your timing is truly amazing.
Thank you so much for showing us a new way to look at everything. I use to attend various lectures on cyclical analysis. But they seemed primitive at best and only concerned about trading some single market thinking they have conquered the world. Nobody has ever comprehended the global connectivity that you show us all the time. I really do hope the government would just for once care about society and listen to what your models really project. So many lives would be saved not to mention money from chasing absurd ideas like global warming that is obviously a natural cycle. It is a shame the analytical community does not stand up and support you rather than trying to compete with you when they cannot even understand the depth to which you have taken cyclical analysis.
Thank you once again for showing us the light.
HRK
ANSWER: Thank you. I am very glad that some people are starting to see that this is something very important that could really change the future is implemented. We are trying to take this public to protect everything and then hopefully the technology can be applied to many fields. Ego keeps the industry fragmented. Only when we crash and burn does it appear that there would be any type of unity in the analysis community. They argued Keynes was nuts until the Great Depression hit. This is just how it functions. As for a market forecasters, generally all they are doing is trying to make a buck. They are not normally inspired by lofty goals. They are content trying to develop just trading systems to sell.

This post was published at Armstrong Economics on September 3, 2014.

Beware of the UN Takeover of American Water Supplies

Millions of children under five die every year due to toxic germ-infest unsafe drinking water. This means that almost four babies a minute die from a lack of water according to UN-Water’s estimations. In the 2014 World Water Report released on the eve of World Water Day, the UN said that 768 million people do not have adequate access to water, 2.5 billion do not have access to improved sanitation. Among the deprived are a significant number of people in Detroit. It would seem that the problems of the third world are being visited upon Detroit and soon the rest of the country.
Obama Refuses to Bail Out the People of Detroit Obama has taken American taxpayer funds to bail out the privately owned General Motors. Obama has helped to himself to the same pot of money and has devastated this country by bailing out key Wall Street businesses (e.g. Goldman Sachs). However, when it comes to helping 700,000 residents of Detroit, they are not worthy of an Obama bailout, even when their health and their very lives are being put in danger by severe third world economic conditions that are currently present in Detroit.
Detroit is trying to come to grips with its newly founded Chapter 9 Bankruptcy plan that includes a significant loss of pension benefits for retired city employees. However, the most devastating part of the Detroit financial crisis may not be the loss of pension benefits, it is the access to clean drinking water. Today, Detroit is a city in which nearly 50% of the residents will soon have no access to clean drinking water. Yes, that is correct, nearly half of the residents in Detroit, cannot obtain clean water and this has become a serious life crisis. Detroit Water and Sewerage Department (DWSD) announced it would send shut-off notices to customers with balances more than $150 past due or who are more than 60 days behind in their water payments. The department, has stated that nearly 50% of Detroit’s 324,000 water bills are overdue. Already, 4,500 accounts have had their water shut off by DWSD. This is looming health crisis of epic proportions!

This post was published at The Common Sense Show on September 3, 2014.

Is This Why Obama Is Rushing To This Week’s NATO Summit?

As is well-known, tomorrow, September 4, a NATO summit begins in Wales to discuss and coordinate the western response to ongoing “Russian intervention” in Ukraine (not to be confused by US intervention in Ukraine meant to remove an standing, democratically-elected president), a summit for which Barack Obama has demonstrated impressive enthusiasm following his blitz tour of Europe, a continent reeling on the edge of a recessionary abyss courtesy of the “costs” Obama has imposed on Germany Russia in the aftermath of the Victoria Nuland-instituted local Kiev government.
Perhaps it has something to do with this…

This post was published at Zero Hedge on 09/03/2014.

In Addition To The Latest Fake Ceasefire, Here Is What Else Happened Overnight

As reported earlier, the biggest overnight news took place just around 4am Eastern when futures exploded to new ATH on headlines of a new ceasefire in Ukraine, which was promptly refuted by both Putin and the rebels, but futures don’t care and have continue raging higher, in hopes of sweeping the latest batch of ugly economic news out of Europe, this time in the form of Europe’s non-mfg PMIs, under the rug.
As RanSquawk summarizes, heading into the North American open, the bulk of the morning’s price action has been provided by news that Ukrainian President Poroshenko said that he reached an agreement with Russia’s Putin on a “permanent cease fire” in Eastern Ukraine’s Donbass region. This saw an immediate spike higher in European equities with the DAX future rallying and breaking above its 100DMA seen at 9644.50, thus extending earlier gains that stemmed from the strong performance in Asia-Pacific equities, while the e-mini S&P once again printed a fresh record high. However, these moves staged a partial reversal amid comments from Russia’s Putin that he denied that such an agreement had been reached as Russia is not a party to the Ukraine conflict. In stock specific news, Russian exposed Raiffeisen Bank outperforms Europe ( 7%) in reaction to the geopolitical developments, while Hugo Boss have underperformed throughout the session following a share placement which came in at the lower end (-5.3%).
A quick recap of the Euroarea final, and disappointing, composite PMI data from Goldman.

This post was published at Zero Hedge on 09/03/2014.

Department of Homeland Security – A 240,000 Person Cancer on the American Soul

Regular readers will be intimately familiar with my feelings on the Department of Homeland Security (DHS). Long before it became obvious to millions of people, I wrote about how the DHS was never intended to prevent terrorist attacks, rather it had always been intended to suppress the American citizenry. Over the past decade, it has become a dangerous behemoth of fascism under the guise of the fraudulent ‘war on terror.’
Going back to 2010, I wrote a piece titled: The Dangers of a Failed Presidency, in which I wrote:
There is clearly a power elite that consists of a union between big corporate and financial oligarchs and career bureaucrats in Washington D. C. These are the folks that pull the strings of all administrations. All you have to do is look at the trends that have been in place since George W Bush and continue under Obama to see what these players want. Bigger government and thus more Federal power, more wealth for the oligarchs (thank you Federal Reserve) and an erosion of the middle class, and reduction of civil liberties in the name of the 1984-like never-ending ‘war on terror.’ I believe in a war on terror of my own. A war against the terror that Washington D. C. is constantly trying to inject into your head so that you sheepishly give away all you rights and power to them. That’s my war on terror.

This post was published at Liberty Blitzkrieg on Sep 2, 2014.

Cold War About to Turn Hot? Putin Warns Europe “I can Take Kiev in Two Weeks”; WW III Not a Good Option

People keep asking why I have a spotlight on Ukraine and not Gaza. It should be obvious. The economic impact of the Civil war in Ukraine has a huge European economic interest. Moreover, risk of further escalation involving Russia and the US looms large. The Financial Times reports Debate Heats Up in US and Europe Over Arming Kiev.
As Barack Obama departs for Europe to attend a crucial NATO summit, the US president is facing fresh pressure at home to provide weapons to Ukraine, including from senior members of his own party. European governments are also considering the wisdom of sending arms to Ukraine, with many leaders from eastern Europe eager to do more to help Kiev, while western European governments remain cautious.’I think it is very important to recognise that a military solution to this problem is not going to be forthcoming,’ Mr Obama said last week.
But even leading members of his own party have joined Republican critics to call for more assistance to Kiev. Adam Smith, the leading Democrat on the House Armed Services Committee, said at the weekend that the US should help Ukraine build ‘a more capable fighting force to resist’ Russia.

This post was published at Global Economic Analysis on September 02, 2014.

HOME DEPOT COVERING UP MASSIVE CREDIT CARD DATA BREACH

How come an independent security blogger has to reveal massive retail credit card breaches? Brian Krebs also blew the lid off the Target debacle. He thinks this could be much bigger than the Target breach. What you get from the mega-retailers is stonewalling and canned PR messaging. They are clueless fucks who are busy spending their money on stock buybacks and executive stock options, rather than IT security.
DO NOT SHOP AT HOME DEPOT. Your data is not safe. Via Brian Krebs
Banks: Credit Card Breach at Home Depot Multiple banks say they are seeing evidence that Home Depot stores may be the source of a massive new batch of stolen credit and debit cards that went on sale this morning in the cybercrime underground. Home Depot says that it is working with banks and law enforcement agencies to investigate reports of suspicious activity.
Contacted by this reporter about information shared from several financial institutions, Home Depot spokesperson Paula Drake confirmed that the company is investigating.

This post was published at The Burning Platform on 02 Sept 2014.

When A Marketing Campaign Goes Horribly Wrong

It has been a bad year for Malaysian Airlines: following the disappearance of MH-370 (which to our knowledge still hasn’t been found), and the crash of MH-17 (which to our knowledge still hasn’t had its Kiev ATC recordings released) the country’s national carrier reported it would be delisted, and nationalized, with a follow up report last week that some 6,000 workers would be laid off to enjoy the recovery “confirmed” by the market’s all time highs on their own. The year not only got worse, but outright bizarre, macabre and morbid following a marketing ploy revealed last week in which would-be passengers were given a chance to win a ticket if only they shared their… bucket list?
According to the Malay Mail, reported by Time, Malaysia Airlines launched a competition in Australia and New Zealand four days ago, according to media reports, in which it said it was giving away free economy-class tickets and free iPads. The competition name was, to say the least, bizarre: My Ultimate Bucket List. Contestants had to explain ‘What and where would you like to tick off on your bucket list?’

This post was published at Zero Hedge on 09/02/2014.

Ukraine to Need Another $19 Billion from the IMF

Ukraine is already on the hook to the IMF to the tune of $16.7 billion. Today the IMF reassessed: Ukraine Crisis Hits Economy and Could Require Bigger loan.
In its first full review since agreeing a $16.7bn standby facility earlier this year, the IMF warned that the two main risks it had foreseen – intensification of the conflict in the east and a natural gas shut-off by Russia – had materialised.
If fighting continued in eastern Ukraine at the same level throughout 2015, it added, Ukraine would need additional financing of $19bn to shore up its central bank reserves.

This post was published at Global Economic Analysis on September 02, 2014.

Do We Dare Follow Obama Into WW III? The President’s Treason Quotient

The United States could be months away from a total subversion of all of its constitutional principles, its traditions, its wealth and ultimately the freedom and survival of millions of its citizens. This very real possibility is due to the fact that America could soon be engaged in a war of national survival. The fundamental question surrounding this article is whether, or not, the American people can trust the current President to do his best to defend the Constitution, our culture and even our very lives? Is Obama capable of setting aside his apparent differences with the mainstream of the American people to protect them in the very dark days that lie ahead? Or, is Obama is the right man, at the right time to engineer a total communist subversion of the United States at its most critical hour?
All In the Family The analysis of Obama’s suitability to hold the highest office in the land begins with an analysis of Obama’s real father, Frank Marshall Davis.
We can easily find that Davis was a member of the Communist Party and a former Soviet Agent who was under FBI investigation for a total of 19 years. In 1948, Davis moved from Chicago to Hawaii leaving behind a colleague named Vernon Jarrett, father-in-law of Senior White House advisor, Valerie Jarrett. Yes, the Jarrett’s are communists as well. Both Jarrett and Davis wrote for a left wing newspaper called the Chicago Defender in which they espoused a communist takeover of the United States Government. In 1971, Davis, according to Joel Gilbert’sseminal work, reunited with his then nine-year-old son, Barack Obama, and schooled him in the ways of being a good communist for the next nine years.
Following the nine years of mentoring and parenting by Frank Davis, Obama made some very important communist connections which ultimately led to him obtaining an impressive college education financed by some very familiar communist activists, namely, Bill Ayers and Bernardine Dohrn. You remember Bill and Bernardine, don’t you? FBI special informant , Larry Grathwohl, and Joel Gilbert credit the the two with launching Obama’s political career from their Chicago living room. Just who are the two benefactors of President Obama’s political career?
The Prairie Fire book was co-authored by Dohrn and Ayers, and, quite unbelievably, it was dedicated to Sirhan Sirhan, Robert Kennedy’s assassin. Former FBI informant, While appearing on The Common Sense Show, Larry Grathwohl, revealed that he testified in a court of law that Ayers and Dohrn had direct involvement in a terrorist plot which killed San Francisco police sergeant, Brian V. McDonnell, by a bomb made and planted by these Weathermen Underground terrorists.
Grathwohl also revealed that he asked Ayers, in a meeting of about 25 well-to do Weathermen, most with advanced degrees from Ivy League Universities, what the Weathermen planned to do when they achieved their goal of a communist take over of the government. Grathwohl stated that Ayers paused for a moment and then said that it was likely that about 50 million Americans will have to be re-educated in concentration camps located in the American Southwest and that about 25 million would have to be eliminated, meaning that they would have to be murdered. Bill and Bernardine’s Weather Underground had the support of Cuba, East German intelligence and the North Vietnamese.

This post was published at The Common Sense Show on September 2, 2014.

Keiser Report: Islamic State Startup (E648)

The following video was published by RT on Sep 2, 2014
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Islamic State resembling the Taliban with oil fields – ie a whole lot like Oklahoma. They also discuss the new Misery Index, which shows labor force participation and velocity of money plunging. Meanwhile, back in America naked incidents are on the rise and, in Europe, suicide tourism rises four-fold. In the second half, Max continues his interview of bitcoin mogul, Trace Mayer, about bitcoin, central banking and geopolitics.

The Chart Obama Does Not Want Merkel To See

The weekend’s headlines reeled from the collapse in global manufacturing PMIs and with them the last best hope for the world’s economies to reach escape velocity all on their own. However, there was one nation that did not plunge… there was one country whose growth (based on the soft survey data) is at 10-month highs. Perhaps this is the chart that President ‘we need moar sanctions and costs’ Obama does not want Angela ‘umm, wait a minute’ Merkel to see…

This post was published at Zero Hedge on 09/02/2014.

Sanctions Against Russia ‘Unproductive’ – France’s National Assembly

EU sanctions against Russia are unfair and unproductive, according to Thierry Mariani, member of the National Assembly of France.
“I, and many of the other participants of today’s meeting, think that the sanctions imposed against Russia are unfair, unconstructive and unproductive,” Mariani said during a meeting between Sergei Naryshkin, Russia’s State Duma (lower house of parliament) Speaker, with French political and social activists in Paris Monday.
Over the past few months, the United States and the European Union introduced several rounds of targeted sanctions against the Russian economy, unjustifiably blaming Moscow for meddling in Ukraine’s internal affairs.

This post was published at RAI Novosti

Moldova Asks EU to Provide Its Farmers With Financial Assistance

Moldovan Prime Minister Iurie Leanca asked the European Union to provide Moldovan farmers with financial aid during a meeting with Stefan Fule, European Commissioner for Enlargement and European Neighbourhood Policy, a spokesman for the Moldovan government told RIA Novosti Monday.
“European financial assistance was one of the main topics discussed by Leanca and Fule. The Commissioner stated that he would consider the possibility of Europe providing [Moldovan] farmers with financial help,” the spokesman said.
On July 18, Russia's agricultural watchdog Rosselkhoznadzor introduced temporary restrictions on fruit imports from Moldova.
On September 1, a law cancelling nullified duties for imports of certain Moldovan products to Russia, including wine, meat, vegetables, grain and fruit, came into effect. The law was drafted in order to protect the Russian market from an uncontrolled flow of European duty-free goods following Moldova’s signing of a free-trade agreement with the EU on June 27.

This post was published at RAI Novosti

Ebola becoming harder to treat -US experts: rapid mutation could ‘render treatment and vaccines ineffective’

August 2014 – AFRICA – As countries across the world battle to contain the spreads of the Ebola Virus Disease (EVD), the killer ailment appears to be devising means of circumventing efforts to stop it, researchers have said. Experts claim that the virus is ‘rapidly and continually mutating, making it harder to diagnose and treat.’ This is just as former President Olusegun Obasanjo declared, on Saturday, that the index case, Patrick Sawyer, in a ‘devilish’ connivance with some Liberian authorities, intentionally brought the disease to Nigeria. He also noted that the disease, which he said had become a global problem, had been taking a toll on Nigeria’s economy, charging the Federal Government to partner the World Health Organization (WHO), European Union (EU) and government of America in containing the virus. Sunday Tribune’s finding showed that result of a research by a team of American scientists indicates that the initial patients diagnosed with the virus in Sierra Leone revealed almost 400 genetic modifications, concluding that this could render current treatment ineffective and put vaccines that are being worked on for its cure in danger. According to reports, the team of researchers, under the Broad Institute in Massachusetts and Harvard University, analyzed more than 99 Ebola virus genomes which were collected from 78 patients diagnosed with the disease in Sierra Leona in the first 24 days of the current outbreak. Dr Pardis Sabeti, a senior associate member at the Broad Institute and an associate professor at Harvard University, who was among leaders of the research, said ‘by making the data immediately available to the community, we hope to accelerate response efforts.

This post was published at The Extinction Protocol on September 1, 2014.

Back to the future

London, England
[Editor’s note: This missive was penned by Tim Price of PFP Wealth Management in the UK, a frequent contributor to Sovereign Man] ‘Sir, Arnaud Montebourg, the former French economy minister and the sourest note in the Hollande repertoire, dares to complain of ‘absurd’ austerity policies ? (‘Hollande purges cabinet following leftwing revolt’, August 26.) If those policies are absurd, it is because they were not accompanied by the structural reforms so badly needed to make the French economy healthy. I am speaking of long outdated redundancy and seniority labour laws, oppressive regulations for the business sector and the unbearable bureaucratic roadblocks that stand in the way of start-ups.
‘To these, one can also add the traditional Gallic mindset of envy, if not outright hostility, towards those French citizens and other Europeans who are willing to work longer, harder and smarter and want to make good money; a mindset that Mr Montebourg never hesitated to parade before the world. Now that he and his cohorts on the left of the Socialist party have departed the government, perhaps Franois Hollande can move forward and leapfrog France from the 19th to the 21st century.’
– Letter to the FT from Stan Trybulski, Branford, Connecticut, 28th August 2014.
‘There’s a great deal of ruin in a nation.’ – Adam Smith.
‘You will never understand bureaucracies until you understand that for bureaucrats, procedure is everything and outcomes are nothing.’ – Thomas Sowell.
Much of what we think we know isn’t necessarily so. The invention of the printing press with movable type? Traditionally credited to fifteenth-century Germany and Johannes Gutenberg, it was actually invented in eleventh-century China. Paper also originated in China long before it was used in the West. As did paper money and toilet paper (albeit today, these are pretty much interchangeable). English agriculturalist Jethro Tull is widely credited with the discovery of the seed drill in 1701. It was in fact invented by the Chinese 2,000 years beforehand. The first blast furnace for iron smelting is associated with Coalbrookdale – tragically close to schools in the West Midlands. It was actually introduced by the Chinese before 200 BC. The Chinese were also first to use the fishing reel, matches, the magnetic compass, playing cards, the toothbrush and the wheelbarrow. Perhaps even golf. So how did a society apparently so dynamic and innovative by comparison with the West then enter a centuries’ long decline?

This post was published at Sovereign Man on September 1, 2014.