- This Map Shows US States Renamed For Countries With Similar GDPs
The U.S. economy is so big that all of the individual states are comparable to entire countries…
As Visual Capitalist's Jeff Desjardins notes, not surprisingly – big states like California, New York, and Texas are very similar in size to other formidable economies like France, South Korea, and Canada.
Perhaps even more interesting, however, is that even small states are similar to the size of countries.
Wisconsin is about the size of Malaysia, and Louisiana is comparable to the Philippines. Even Vermont, a state with a population of 626,000 people and the smallest state economy, is approximately the size of Bahrain.
It’s pretty incredible to think about the United States this way – and it helps put the economic power of the full country in real context.
- On June 1st The Deep State Will Move To Overthrow Trump
Authored by Mac Slavo via SHTFplan.com,
On Wednesday, March 15, 2017 the U.S. government once again hit its debt ceiling. In short, this means that until Congress raises the ceiling, the government will be unable to borrow more money. If you remember the last time this happened, there were weeks of posturing by Republicans and Democrats while some government services started shutting down. After much deliberation and negotiation the debt ceiling was eventually raised and collapse was avoided.
But this time around we may see a very different set of events play out. If it isn’t clear to you just yet, President Trump is under attack from all sides. Democrats, the media and even members of his own Party want to see him fail. But perhaps more importantly, it is the shadow operators known as “The Deep State” who may take this opportunity to lay the blame for decades of machinations at Trump’s feet.
These shadow forces have been at work manipulating everything from the global economy to the political affairs of sovereign nations.
While March 15th is the day we hit our debt ceiling, June 1st, 2017 is the real date to watch. That’s the day the Deep State may finally pull the trigger:
And what better way to do that then to collapse the economy?
Establishment Republicans and Democrats hate trump… many want to see him fail… even if it means a real systematic crisis for the nation.. in fact, many will even see this as a crisis to get rid of the President… to blame him for the last 30 years of mismanaging the country’s finances and be able to rebuke the voters who elected the President with a national mess… Trump and his supporters will be blamed and take the fall… this is the secret plan
The following report from Wealth Research Group explains how and why it will all go down:
Both parties have continually paid for government services and programs through debt…
By June 1st, 2017 the Treasury Department will have exhausted ways to get creative with paying its bills and without new debt it will be forced to default…
Most Americans aren’t aware at all that their entire way of life solely rests on the willingness of foreign governments to lend money to their government, otherwise the entire Washington cash burning machine will come tumbling down by the following morning… It all looks so safe with their respectable government buildings and their fancy suits, but in truth the entire economic machine is fragile like glass.…
From March 15th to June 1st is the ultimate political grandstand event… and this time Republicans and Democrats both have secret agendas to allow a real crisis to happen… using it to overthrow a populist uprising and the President who doesn’t bow to the status quo.
- Relax, Global Citizen; The CIA Is Benign & Benevolent
Authored by Pepe Escobar via Asia Times,
The massive WikiLeaks Vault 7 release is an extremely important public service. It’s hard to find anyone not concerned by a secret CIA hacking program targeting virtually the whole planet – using malware capable of bypassing encryption protection on any device from iOS to Android, and from Windows to Samsung TVs.
In a series of tweets, Edward Snowden confirmed the CIA program and said code names in the documents are real; that they could only be known by a “cleared insider;” the FBI and CIA knew all about the digital loopholes, but kept them open to spy; and that the leaks provided the “first public evidence” that the US government secretly paid to keep US software unsafe.
If that’s not serious enough, WikiLeaks alleges that “the CIA has lost control of the majority of its hacking arsenal;” several hundred million lines of code — more than what is used to run Facebook.
Someone among the former US government hackers and contractors ended up leaking portions of the CIA archive (Snowden II?). WikiLeaks also stressed how the CIA had created, in effect, its “own NSA” – maximum unaccountability included.
Even though millions already knew – without the technical details – that they were being spied upon by their iPhone or their 4K Samsung, the Vault 7 revelations are far more relevant – and practical – to the average citizen than the 24/7 hysteria fingering President Trump as a Putin puppet. Intel sources are volunteering the – still unexplored – Vault 7 treasure trove is more crucial than what Snowden himself revealed.
And still, vast corporate media sectors embedded with the neocon/neoliberal galaxy are spinning that Vault 7 benefits Trump by changing the subject from alleged Russian hacking interference in the US elections and possible Obama administration-ordered hacks of Team Trump’s communications.
So, if anyone hasn’t got the message, the song remains the same.
- WikiLeaks + Snowden + Russia + Trump = the bad guys.
- CIA deploying its own NSA around the world = the good guys.
After all, CIA spokesman Jonathan Liu duly issued a non-denial denial.
Loony mainstream factions are even advancing that “the Russians” leaked the CIA info to WikiLeaks, thus fueling more suspicion that Russia will interfere in upcoming French and German elections.
May I have an Orwellian iPhone, please?
As we’re mired deep in an Orwellian total screen environment, already conceptualized by Baudrillard in the go-go 1980s, nothing so trivial as the technical proof we’re all being spied upon could alter the (im)balance. The US is already ravaged by a vicious sociopolitical war – and no “threat” to established narratives allows for nuance.
The implication is that, as it stands, there won’t be a US-Russia reset anytime soon – despite hosting invitations from Iceland, Finland or Slovenia; the neocon/neoliberal galaxy nestled in powerful deep state factions will do their best to deny it.
It hardly matters that Trump absolutely does not want war: his entire domestic US economy remix could not possibly allow it. The Pentagon now is essentially an extended special ops unit: it cannot possibly fight a land war (Iran? North Korea? Ukraine?)
Russia, on the other hand, would be ready for war if needs be. The S-500 missile defense system is being deployed: some analysts (not the Ministry of Defense) are sure it’s already protecting the whole Russian landmass. China, by 2021, will have more than 1,000 very mobile warheads, or hidden in those submarines lounging in Hainan. By that time, both Iran and Pakistan will be deep into a strategic defense network with Russia-China, via the Shanghai Cooperation Organization, shielded with their own S-400 and S-500 systems.
Putin is not playing chess. He’s playing Go — and if we look at the board, reality is indeed painful.
Moscow is all but deciding the practical future of Syria, in Astana. Russia virtually wrote the Minsk II agreements, routinely broken by Kiev. Crimea as part of Russia is a fait accompli. Novorossiya for all practical purposes is already a totally autonomous region, with the economy working in rubles. Erdogan owes his imminent regime change in reverse – a presidential sultanate? – to Putin, as Russia warned him about the military coup hours in advance, according to several Russian media sources. Moscow protected Iran’s energy industry during the hardcore OPEC negotiations. Putin all but designed the Russia-China strategic partnership.
Beijing has managed to convince Moscow that One Belt, One Road and the Eurasia Economic Union should be connected, merged and tackled as a win-win Eurasia integration process. If Russia eventually loses economic preeminence across the Central Asian “stans,” it maintains its paramount military/security status.
Russian Foreign Minister Sergei Lavrov never ceases to stress that “our relations with China are at their best level ever in our two countries’ history.”
Add to it a geo-economic gambit; hints of key factions of European business elites getting ready to hitch themselves to China’s growing – slowly but surely – monetary/financial clout, linked to Beijing’s imperative of preventing a collapse of global supply chains. Xi Jinping’s “inclusive globalization,” announced in Davos, sounds more and more like a reality in the making.
In contrast to reality, where China-Russia expand their strategies without exceptionalist illusions, 24/7 neocon/neoliberal hysteria offers a constant barrage of childish, pathetic eruptions. As the self-delusion school of foreign policy refuses to admit Moscow will not sell out China and Iran for a deal with Washington, the last refuge of the scoundrels is cognitive dissonance; fear of Russia incited to cold war 2.0 heights.
So, relax, global citizen; the CIA is benign and benevolent, even when they’re watching you. You have nothing to fear but fear itself – and its name is Russia.
- Bank Of Japan Leaves Policy, Economic Outlook Unchanged
Confirming the expectations of all 41 economists, The Bank of Japan changed absolutely nothing about its monetary policy tonight following The Fed's 3rd rate hike in 11 years. The BOJ said in a statement that it would keep the two key rates at current levels, maintain the pace of its asset purchases, and did not change its economic outlook.
- The BOJ maintained its short-term policy rate on some bank reserves at -0.1 percent and…
- left its target for 10-year government bond yields at around 0 percent.
- It kept the pace of its asset purchases unchanged at about 80 trillion yen ($700 billion) annually.
As Bloomberg reports, with the economy slowly improving and bond yields under control, the BOJ is in position to hold steady for now. But with the Fed rate hike putting upward pressure on yields globally, some economists are looking for signs the BOJ may have to raise its rate targets, particularly if inflation begins to take hold in Japan. “There’s no reason for the BOJ to act now," Hiroshi Ugai, a former BOJ official and chief Japan economist at JPMorgan Chase & Co., said before Thursday’s decision. “The bank will take the U.S. rate hike as good news. What I’m looking for now is any hint of its willingness to raise rates in the future."
For now the reaction is muted and confused (with USDJPY rising – weaker Yen – and stocks up marginally)…
"The BOJ can enjoy smooth sailing for now,” said Mari Iwashita, chief market economist at SMBC Friend Securities.
But the policy divergence will make it more challenging for the BOJ to maintain its target for 10-year government bond yields, and some investors are already speculating that it will have little choice but to raise that target as global yields rise and inflation inches up at home. Kuroda’s comments on this and possible tapering of asset purchases will be scrutinized.
Eleven of 41 economists surveyed by Bloomberg said they expected the BOJ to raise its target rate this year, while 25 predicted the BOJ would cut the pace of its debt buying or stop stating its target for annual purchases.
Kuroda and Deputy Governor Hiroshi Nakaso said last month that it is too early to consider raising rates because inflation remains far from the BOJ’s 2 percent target, underscoring a determination not to repeat the mistake of prematurely tightening seen in 2000 and 2006.
Some BOJ officials are considering whether to give the market further guidance on interest rates once inflation begins picking up, according to people familiar with matter.
“It’s way too early for the BOJ to consider any move,” said Daisuke Karakama, chief market economist at Mizuho Bank Ltd. “They must be hoping this favorable conditions to continue but I don’t think the road to the price target will be all that smooth.”
However, it is notable that there are some risks that The BoJ point out that The Fed seems happy to ignore (as Bloomberg's Colin Simpson notes):
The BOJ doesn't seem to be buying the global reflation story. Perhaps they can see a scenario where the base effect of higher oil prices washes through and the yen starts to creep higher again. Either way, they seem subdued.
Timely warning from the BOJ statement following the Fed's rate hike: "Risks to the outlook include the following: developments in the U.S. economy and the impact of its monetary policy on global markets."
- Mexico's Presidential Frontrunner Blasts Trump's "Neofascism"; Says "Can't Wait To Redo NAFTA"
Last month we wrote about “Mexico’s Fiery, Trump-Like Populist Who Looks Increasingly Likely To Win The Presidency In 2018.” As we noted before, Pena Nieto’s PRI party, which has held power for most of Mexico’s modern history, has seen its popularity eroded in recent months due to a series of corruption scandals, surging gasoline prices and a perception among Mexican voters that Pena Nieto himself has been too soft in combatting an aggressive Trump Presidency.
But, the growing populist sentiment that is sweeping Mexico and forcing Pena Nieto’s ratings to all-time lows, is the same sentiment that has vaulted Andres Manuel Lopez Obrador to the top of the list of likely presidential candidates to be elected in 2018. Staying true to his reputation, Lopez Obrador spent the better part of today blasting the Trump administration in a series of interviews.
In fact, speaking at the Washington Press Club earlier, Lopez Obrador said that the poor distribution of income and bad tax policies, not immigrants, were the cause of America’s economic distress. Per The Hill:
“President Trump’s approach of blaming migrants for the problems of the United States has been excessive. We will not allow that, you can’t implement a campaign of hate against Mexicans because that is neofascism,” he said.
Lopez Obrador was in town to present a complaint against Trump’s executive orders on immigration at the Interamerican Commission on Human Rights (IACHR).
“We are denouncing that Secretary [of Homeland Security John] Kelly’s executive measures affect not only Mexicans, but migrants from all over the world,” said Netzaí Sandoval, the lawyer who wrote the claim.
Meanwhile, Lopez Obrador vowed to take a more “firm” approach in re-negotiating the NAFTA free trade agreement with the Trump administration saying that while Nafta “didn’t hurt” Mexico’s economy “it is also not our salvation.” That said, he went on to warn that any cooperation between the U.S. and Mexico would be short lived if the Trump administration didn’t change it’s rhetoric on migrants.
Lopez Obrador said that once in power, he would change the nature of the bilateral relationship “without disrespecting anyone, but with firmness.”
He said it is “very probable” that he will win the upcoming election, scheduled for July 2018.
“We will convince the government of the United States and Trump that the best thing is a good deal, an understanding based on cooperation for development,” he said.
But Lopez Obrador warned the overlap between his administration and Trump’s would be short-lived if the Trump administration did not change its tune on migrants.
As we pointed out earlier this morning, Peter Navarro, Trump’s top trade advisor, seemingly took a slightly less combative stance on NAFTA and was quoted by Bloomberg as saying he wants the US, Canada and Mexico to form a trade “powerhouse”, supposedly one which is quite different from the existing “NAFTA” trade arrangement.
The Trump administration is re-examining a critical component of the free trade pact: the rules of origin, which dictate what percentage of a product must be manufactured in the U.S. for it to carry a Made in America label, Navarro said.
“We have a tremendous opportunity, with Mexico in particular, to use higher rules of origin to develop a mutually beneficial regional powerhouse where workers and manufacturers on both sides of the border will benefit enormously,” said Navarro. “It’s just as much in their interests as it is in our interests to increase the rules of origin.”
For example, under the current agreement, 62.5 percent of the total value of cars sold in North America must originate in the U.S., Canada or Mexico to avoid import tariffs. The U.S. wants to raise that threshold, making it harder for parts from other countries to enter the supply chain.
Since the comment appeared less combative than some more aggressive trade-related statements out of the administration, the market took them in stride and sent both the Canadian Loonie and the Mexican Peso to session highs.
Finally, here’s is Bloomberg’s interview with the so-called ‘Trump of Mexico’.
- What You Do On Your Cell Phone Could Come Back To Haunt You
Authored by Michael Snyder via The Economic Collapse blog,
As far as Big Brother is concerned, nothing that you do on your cell phone is ever private. And if the government really wants to see what is on your cell phone, they are going to get that information one way or another, even if that means resorting to physical violence. On Monday, NBC News provided us with yet another glaring example of how the United States is being transformed into a Big Brother police state. On January 1st, Akram Shibly and Kelly McCormick from Buffalo, New York were coming back home from a trip to Toronto, and they didn’t anticipate any unusual problems when they got to the border. Unfortunately for them, U.S. Customs & Border Protection agents decided to take their cell phones, demanded their passwords, and kept them in custody for the next two hours as they searched for anything that might be incriminating on those phones.
You might be thinking that sounds like it should be illegal, and you would be correct, but sadly federal courts have ruled that our constitutional rights do not apply to border searches. So authorities use this legal loophole to do pretty much anything they want at the border.
If that young couple from Buffalo would have had something illegal on their phones, they could have been immediately arrested and put in prison.
And we haven’t even gotten to the worst part of the story yet. Just a few days later Akram Shibly and Kelly McCormick took another trip to Canada, and this time border agents physically assaulted Akram when he did not immediately turn over his phone. The following comes from NBC News…
Three days later, they returned from another trip to Canada and were stopped again by CBP.
“One of the officers calls out to me and says, ‘Hey, give me your phone,'” recalled Shibly. “And I said, ‘No, because I already went through this.'”
The officer asked a second time.
Within seconds, he was surrounded: one man held his legs, another squeezed his throat from behind. A third reached into his pocket, pulling out his phone. McCormick watched her boyfriend’s face turn red as the officer’s chokehold tightened.
Is this still America?
I can’t believe that this is what the United States has become. When I was young I remember reading about this sort of thing in Nazi Germany, the USSR and Communist China, but I never imagined that it would happen here. For years I have been warning about this growing “Big Brother police state control grid”, and I wish that more Americans would realize how evil all of this government surveillance truly is.
You can watch an interview where this couple from Buffalo talks to NBC News about this recent incident at the border right here.
It is so disgusting that this is how we are treating law abiding people when countless numbers of drug dealers and gang members are pouring across unprotected sections of our border every single day.
Unfortunately, cell phone searches at the border appear to be rising at an exponential rate. According to NBC News, more cell phone searches were conducted at the border during the month of February 2017 than in the entire year of 2015…
Data provided by the Department of Homeland Security shows that searches of cellphones by border agents has exploded, growing fivefold in just one year, from fewer than 5,000 in 2015 to nearly 25,000 in 2016.
According to DHS officials, 2017 will be a blockbuster year. Five-thousand devices were searched in February alone, more than in all of 2015.
And of course it isn’t just searches at the border that you need to be concerned about.
Not too long ago, it was being reported that the CIA has helped the Justice Department with technology that allows law enforcement officials to scan “data from thousands of U.S. cellphones at a time” from the safety of a plane…
The Central Intelligence Agency played a crucial role in helping the Justice Department develop technology that scans data from thousands of U.S. cellphones at a time, part of a secret high-tech alliance between the spy agency and domestic law enforcement, according to people familiar with the work.
The CIA and the U.S. Marshals Service, an agency of the Justice Department, developed technology to locate specific cellphones in the U.S. through an airborne device that mimics a cellphone tower, these people said.
So the next time a strange plane flies over your house, this may be what is happening.
Here is more on this disturbing new technology…
The program operates specially equipped planes that fly from five U.S. cities, with a flying range covering most of the U.S. population. Planes are equipped with devices—some past versions were dubbed “dirtboxes” by law-enforcement officials—that trick cellphones into reporting their unique registration information.
I have a feeling that if this program was ever challenged in court that it would be ruled unconstitutional, so let’s hope that happens as soon as possible.
But then again, the NSA has been collecting and storing all forms of electronic communication for years and nothing is being done about. We have even had a 36-year veteran of the NSA named William Binney come out and publicly admit that all of our phone conversations “are being monitored and stored” and still nothing is done to stop it.
So don’t do anything on your cell phone that you wouldn’t want the government to see, because someday they could use it to nail you.
Of course we also need to use discretion regarding the things that we know the public will be able to see. When you post something to Facebook or Twitter, you may think that it is harmless, but it could end up costing you big time. In fact, I just came across an article about how a number of pastors have actually been fired because of what is on their social media accounts…
“It’s not fair I lost my job,” the pastor told me.
“My church members post a lot worse things than I do on social media. It’s a double standard.”
He’s right. It is a double standard. But it’s reality. And, with greater frequency, more pastors and church staff are losing their jobs because of what they post, particularly on Facebook and Twitter and, to some extent, their blogs.
By the way, churches will not always tell the pastor the specific reason for the firing. But, once we begin to infuriate our church members with our posts, many will find a myriad of reasons to give us the boot.
Like the title to this article says, what you do on your cell phone could come back to haunt you.
For many Americans, cell phones have become an essential part of modern life, but the truth is that those little electronic devices can also destroy our lives if we are not careful.
So if you are going to use them, use them wisely, because people are watching.
- Intelligence Sources Reveal: Obama Used British Agents For Trump Wire Tap Surveillance
Authored by Mac Slavo via SHTFplan.com,
While President Obama has vehemently denied issuing direct orders to the Justice Department or other domestic agencies to monitor President Trump during the 2016 election campaign, it is common knowledge that the National Security Agency has the ability to access video and audio from any number of devices in real time. In fact, according to Edward Snowden and documented in the recently released Snowden motion picture, U.S. spy agencies can simply flip a switch to watch or listen in on anything going on in a particular room by turning on a particular device’s cameras and microphones.
Here’s how it works:
The technology is real, but according to legal scholars, would have been illegal to use on Donald Trump or his surrogates without a warrant or probable cause indicating links to terrorist organizations.
But while domestic spy agencies like the NSA and CIA can’t actively monitor a citizen on U.S. soil, there is a very convenient work-around that has been used for over a decade to accomplish this task without technically breaking the law.
According to three intelligence sources who spoke with Judge Napolitano, this is exactly what President Obama did to then-candidate Donald Trump.
Three separate intelligence sources believe that former President Obama veered ‘outside the chain of command’ and employed British surveillance agents to conduct surveillance on Donald Trump’s team prior to the election, according to a legal analyst.
Judge Andrew Napolitano revealed on ‘Fox & Friends’ this morning that the sources spilled the details to him as the controversial case continues to dominate headlines.
“Three intelligence sources have informed Fox News that President Obama went outside the chain of command,” Napolitano said. “He didn’t use the NSA, he didn’t use the CIA, he didn’t use the FBI, and he didn’t use the Department of Justice.”
“He used GCHQ.” Napolitano explained.
“What the heck is GCHQ? That’s the initials for the British spying agency. They have 24/7 access to the NSA database.” The Judge explained.
Napolitano noted that this was done to secure plausible deniability. In other words, even if the Obama administration did spy on Trump, there may never be a way to prove it.
“So by simply having two people go to them saying, ‘President Obama needs transcripts of conversations involving candidate Trump, conversations involving president-elect Trump,’ he’s able to get it, and there’s no American fingerprints on this. ”Napolitano added.
Video:
.@Judgenap: Three intel sources have disclosed that Pres. Obama turned to British spies to get surveillance on Trump pic.twitter.com/IghCFm7qhO
— FOX & friends (@foxandfriends) March 14, 2017
//platform.twitter.com/widgets.js
- Comet Pizza Gunman To Plead Guilty In Plea Deal With U.S. Attorney
Back in early December, the Pizzagate situation took a bizarre turn for the worse when a gunman, since identified as 28-year-old North Carolina resident Edgar Welch, stormed the Comet Ping Pong pizza restaurant with a .38-caliber Colt revolver and an AR-15 in search of an alleged pedophilia ring thought to be tied to various members of Hillary’s inner circle. After failing to find the evidence he sought, but not before letting off a couple of rounds inside the pizza joint in the process, Welch was arrested by Washington D.C. police.
After originally pleading not guilty on December 16th to a federal charge of interstate transportation of a firearm and ammunition and to two D.C. offenses: assault with a dangerous weapon and possessing a firearm during the commission of a crime of violence, Welch has now decided to enter into a plea deal with the U.S. Attorney’s office. Per the Washington Post:
Terms of the plea offer to Edgar Maddison Welch, 28, of Salisbury, N.C., were not disclosed. The U.S. attorney’s office for the District and Welch’s federal defender said they had agreed on a “plea in principle,” but declined to comment further at a previously scheduled court appearance after a deadline to accept the deal or face trial expired Monday.
U.S. District Judge Ketanji B. Jackson ordered the parties to submit final terms to her by Monday and set a March 24 plea agreement hearing.
Under a plea deal, Welch would likely plead guilty to fewer or lesser charges, in return for prosecutors agreeing to a far shorter recommended sentence subject to federal guidelines that factor in variables such as a defendant’s criminal history, cooperation and other specific facts of the case.
In charging documents police said that Welch anticipated his raid of Comet Ping Pong could result in violence and tried to recruit two co-conspirators, citing text and calling records.
“Raiding a pedo ring, possible [sic] sacrificing the lives of a few for the lives of many,” Welch texted a friend two days before he drove to Washington in a Toyota Prius, according to federal prosecutors. The text continued: “Standing up against a corrupt system that kidnaps, tortures and rapes babies and children in our own backyard.”
* * *
For those who missed it, here is our note on Welch’s arrest back in December.
Pizzagate took a turn for the even more bizarre on Sunday, as a man with an assault rifle walked into Comet Ping Pong to “self-investigate” the Baltimore, Maryland, pizza parlor that internet conspiracy theorists say is at the center of an international child sex ring run by prominent Democrats. 28-year-old Edgar Maddison Welch, of Salisbury, N.C., reportedly fired the rifle at least once inside the restaurant but no one was injured.
As HeatSt.com reports, Washington, D.C., police arrested the man Sunday afternoon, after restaurant employees saw a man, described as being in his early 20s and carrying an “assault rifle,” work his way through the dining room and then attempt to enter the staff work area at the back of the building.
#Breaking : Major police presence near #comet pizza in #Northwest DC near the corner of Connecticut and Nebraska. Man arrested. pic.twitter.com/RrqaBt2kKR
— jeffgep (@jeffgep) December 4, 2016
Restaurant workers acted quickly, getting staff and patrons—including a number of children—to safety and dialing 911. Authorities were quick to respond. They subdued and arrested the man and secured the restaurant. No one was injured.
The Washington Post noted that the incident caused panic, with several businesses going into lockdown as police swarmed the neighborhood after receiving the call shortly before 3 p.m.
Police said 28-year-old Edgar Maddison Welch, of Salisbury, N.C., walked in the front door of Comet Ping Pong and pointed a firearm in the direction of a restaurant employee. The employee was able to flee and notify police. Police said Welch proceeded to discharge the rifle inside the restaurant.
The man told police he had come to the restaurant to “self-investigate” the election-related conspiracy theory.
Police said in addition to the assault rifle, they also recovered two firearms inside the restaurant; an additional weapon was recovered in Welch’s car. Bomb-sniffing dogs and at least one armored vehicle were present at the scene.
He has been charged with assault with a dangerous weapon.
DC Police Press Release on the arrest…
.@DCPoliceDept press release on arrest of Edgar Maddison Welch, 28, of Salisbury, NC for assault w/dangerous weapon at Comet restaurant. pic.twitter.com/IkSJUeHM2y
— Deputy Mayor Donahue (@SafeDC) December 5, 2016
One can’t help but wonder, as Congress considers a bill “to counter active measures by the Russian Federation to exert covert influence,” whether this is yet another false flag to raise awareness of what is a possible outcome of “fake news”?
- China Unexpectedly Tightens Monetary Policy
Following The Fed’s 3rd rate hike in 11 years, the PBOC decided, unexpectedly, to follow in the Fed’s footsteps, and tighten conditions by raising the interest rates on its open-market operations, the 7-, 14-, and 28-day reverse-repos, by 10bps each, to 2.45%, 2.6% and 2.75% respectively.
That followed an increase of 10 basis points at the beginning of February, which in turn was the first increase in the 28-day contracts since 2015 and since 2013 for the other two tenors.
One month ago, the PBOC also – for the first time ever – increased the rate on the PBOC’s Medium-Term Lending Facility, or MLF. It did it again on Thursday, when the PBOC conducted CNY303 billion in 6-month and 1-year MLF, where the interest rose by 10bps, from 2.95% to 3.05%, and from 3.1% to 3.2%, respectively.
What to make of this tightening? According to the PBOC nothing: the Central bank said there was “no need to over-interpret monetary tools action” and added that higher open market operation interest rates don’t mean benchmark interest rates are increasing.
Except they are, of course, especially since like in western nations, increasingly it is narrowly confined liquidity conduits that matter instead of broad, shotgun market rates.
Naturally, this was not exactly great news for those hoping for a renewed credit impulse to lift the tumbling GDP expectations of the world in Q2. For now the reaction is minimal with Yuan leaking lower, erasing the gains against a weaker post-Fed dollar.
China bond futures took a hit.
As Bloomberg’s Kyoungwha Kim reports, the PBOC is swift enough to raise the repo rates but will stop short of raising the key interest rate, following the Fed. The huge wall of debt set to mature over the next two years will likely keep the PBOC from raising the key rate even as the Fed hikes away. It will probably continue to use higher money-market rates to discourage leverage. While Chinese money market rates and sovereign yields are still showing declines due to delayed prices, traders say they are seeing reaction in the interbank market already.
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