Today’s News 20th December 2016

Paul Craig Roberts Warns "Only A Counter-Coup Can Save American Democracy"

Authored by Paul Craig Roberts,

The CIA has long engineered coups in other countries. Now we are approaching at breakneck speed a CIA coup in the USA.

When the presstitute media first published unverifired, unsourced leaks attributed to unnamed CIA officials, both the FBI and the Director of Homeland Security said that they did not embrace the accusation that Trump’s election was a result of Russian interference in the US presidential election.

Now suddenly we have a report from the Washington Post, a rag whose integrity is in doubt and a mainstay of anti-Trump propaganda suspected of being a CIA asset, that the FBI and Homeland Security are in agreement with the anonymous leaks to the presstitutes:

“FBI Director James B. Comey and Director of National Intelligence James R. Clapper Jr. are in agreement with a CIA assessment that Russia intervened in the 2016 election in part to help Donald Trump win the White House, officials disclosed Friday, as President Obama issued a public warning to Moscow that it could face retaliation.
New revelations about Comey’s position could put to rest suggestions by some lawmakers that the CIA and the FBI weren’t on the same page on Russian President Vladimir Putin’s intentions.”

“The positions of Comey and Clapper were revealed in a message that CIA Director John Brennan sent to the agency’s workforce Friday. ‘Earlier this week, I met separately with FBI [Director] James Comey and DNI Jim Clapper, and there is strong consensus among us on the scope, nature, and intent of Russian interference in our presidential election,’ Brennan said, according to U.S. officials who have seen the message.”

Note, that this claim comes from the CIA. It has not been verified at this time of writing by the FBI and Homeland Security. Indeed, please note that the Washington Post, which is hyping this story of intelligence agency consensus, reports:

“The CIA and the FBI declined to comment on Brennan’s message or on the classified intelligence assessment that CIA officials shared with members of the Senate Intelligence Committee earlier this month, setting off a political firestorm.” In other words, the CIA might be putting words in the mouths of the other intelligence officials.

Note also that Hillary says that Putin interfered against her because he has a grudge against her for her interference in his reelection by fomenting protests against him with the Western-financed Russian NGOs. If what Hillary claims is correct, then any Russian interference, for which proof remains absent, was directed against Hillary in order to settle a score and has nothing to do with any Russian influence over Trump or 200 Internet sites as falsely and maliciously reported by the Washington Post.

All the CIA officials making claims of Russian interference, according to the Washington Post, continue to speak “on the condition of anonymity.”

So we have a coup against the president-elect based solely on unverified, unsourced, anonymous assertions made by the public knows not who.

Rep. Davin Nunes, the chairman of the House Intelligence Committee, which has oversight over the CIA, has said that neither he nor the committee have seen any evidence from the CIA in support of the claims he reads in the media. He has asked the agency to brief the Intelligence Committee on the alleged evidence but has had no response.

According to the Washington Post, “Nunes said: ‘We have not received any information from Intelligence Community (IC) agencies indicating that they have developed new assessments on this issue. I am alarmed that supposedly new information continues to leak to the media but has not been provided to Congress.’”

Rep. Nunes statement makes it completely clear that the CIA is using the presstitute media to launch a coup against president-elect Trump.

CIA director John Brennan’s audacity suggests that he expects the coup to succeed. Otherwise, he is dead meat along with Bezos, The Washington Post and the rest of the presstitute media.

Trump’s critics on the left and right and among the liberals and progressives have stupidly played into the CIA’s hands. I tried to warn them not to judge Trump by the past associations of his appointees as no change was possible without strong knowledgeable appointees. Those who romanticize Bernie Sanders are out to lunch. A person as weak as Sanders proved to be, completely collapsing in the face of his stolen presidential nomination by Hillary, could not possibly have prevailed over the powerful oligarchic groups that rule America. When we finally get a president-elect strong enough to bring change from the top down, the leftwing-liberal-progressive elements join the CIA in denouncing him!

If the generals Trump has announced as his appointees have been too marginalized within the military by the neoconservatives to be able to provide US military protection against the CIA’s coup against the president-elect, do not expect Donald Trump to be inaugurated as President of the United States on January 20.

We are at the point that only a countercoup against the CIA and the Hillary forces can save American democracy.

High treason is alive and well in the United States, and it is operating against American democracy and president-elect Trump.
Where People Trust The News Most (And Least)

With Facebook rolling out new Soros-sponsored features designed to tackle the spread of ‘fake news’ across America, we thought it worth looking at just how trusted (or not) the media are around the rest of the world…

You will find more statistics at Statista

The Reuters Institute For The Study Of Journalism recently released a report showing that trust levels in news vary hugely by country. As Statista’s Niall McCarthy notes, trust is highest in affluent Western European nations, primarily due to the presence of well-funded public service broadcasters.

65 percent of people in Finland agreed that “you can trust most news most of the time”.

In the United States, the epicenter of the fake news storm, trust was far lower at just 33 percent.
The Most Hated Asset On The Planet

Submitted by Kevin Muir via TheMacroTourist.com,

Last year at this time markets were grappling with the Fed’s first rate hike in almost a decade. Although many optimists were confident the economy was plenty strong enough to handle the increase in rates, within days it was obvious they were sorely mistaken.

Fast forward to today. With the election of Trump, there is even more optimism filling the air.

Don’t get me wrong, I understand all the reasons to be bullish.

But doesn’t the fact that everyone else understand all those reasons too not worry you just a little bit?

There is no wall of worry to climb. Instead we are faced with complete and overwhelming confidence the Fed hike will not derail the good times.

Now maybe I worry too much. Maybe the Fed hike will not slow down the markets even in the slightest.

Yet a little part of me wonders if the problems with the shortage of US liquidity will come rushing back to the forefront with the Fed hike.

And just in case it does, I think it is instructive to review what happened last year when the Fed hiked.

Let’s start with the S&P 500:

After last year’s Fed hike the S&P 500 managed to stay bid for a week before collapsing in the worst start to a new year in the history of finance.

How about the US dollar?

Although the US dollar went up for a few weeks after, it eventually rolled over and had a terrible first quarter of 2016.

So far all the reactions to the Fed hike seem to have some delay. Yet have a look at gold. The “pet rock” bottomed on the day after last year’s Fed hike and never looked back.

I don’t want to goocher it, but so far, the pattern is playing out exactly the same. Gold has once again bottomed on the day following this year’s Fed hike, and knock on wood, has not yet violated that low.

This all coincides with the gold/S&P 500 ratio once again bumping along the support at the previous low.

Putting it all together, will the gold/S&P 500 ratio repeat last year’s performance?

I know any suggestion of gold rising and stocks declining seems absurd. After all, gold is probably the most hated asset class on the planet with stocks being the most loved.

Yet somehow that doesn’t bring me much comfort as I am pretty sure last year the bulls were extremely confident the Fed hike wouldn’t derail the budding recovery. The fact they are even more confident today doesn’t bring me any solace…
Turkish Gunman Arrested After Firing Shots, Trying To Enter US Embassy In Ankara

Hours after the Russian ambassador was shot dead in Ankara, a man was arrested early on Tuesday morning after firing a gun and trying trying to enter the US Embassy in Ankara. According to the Daily Sabah newspaper, the Embassy was placed on lockdown after the man, who has not yet been named, approached the embassy with a gun. He also fired at least one shot in the air, newspaper to the Turkish media.

The gunman who shot in the air outside the US Embassy in Ankara tonight has been pictured. Credit: Anadolu Agency pic.twitter.com/DJNqPeMrqb

— DAILY SABAH (@DailySabah) December 20, 2016

The attack came hours after the US state department issued a security message warning all US citizens to avoid the area near Embassy compound until further notice.

It was not immediately clear if anyone was hurt by the suspect.

A video, and photographs, show him being led away, apparently uninjured. He appears to be in his 40s or 50s. In the video footage of his arrest, he can be heard shouting ‘Don’t play with us’ as he pushes against the group of police officers guiding him to a van.

FOOTAGE: Police arrest the gunman outside the US Embassy in Ankara. He swears and says “don’t play with us” pic.twitter.com/ZmFzYR2kq0

— DAILY SABAH (@DailySabah) December 20, 2016

The US Embassy was also placed on lockdown after that shooting.

The event followed the shocking murder earlier today of Russian ambassador Andrei Karlov, 62, who was shot dead in an Ankara art gallery. Karlov was killed by Melvut Mert Altintas, 22, an off-duty member of the Ankara special forces police department. Footage of the scene shows the man saying in Arabic: ‘We are the descendants of those who supported the Prophet Muhammad for jihad.’ According to local media, his words are similar to the unofficial anthem of Al Nusra, the Syrian branch of Al Qaeda.

In Turkish, Altintas adds: ‘Don’t forget about Aleppo. Don’t forget about Syria. As long as our lands are not safe, you will not taste safety … Only death will take me out of here. Anyone who has a role in this oppression, they will all die one by one.’ Altintas was shot dead after a standoff with police.

It is unclear if there is any link between the two men.
Commuter-In-Chief: Obama Sets New Single-Day Clemency Record; More Than Previous 11 Presidents Combined

Earlier today President Obama commuted the sentences of another 153 federal prisoners bringing his total to 1,176, more than the previous 11 presidents combined. The president also pardoned another 78 individuals, bringing his total pardons over the course of his eight years in office to 148. Combined, these 231 acts of clemency sets a record for the most ever granted by a president in a single day in history.

This latest move is just further evidence of his stated intention to ramp up commutations throughout the remainder of his presidency. And, while the President often claims publicly that his commutations are only for “low-level” and “non-violent” criminals, 395 of the 1,176 commutations were offered to people serving life sentences…which typically aren’t given to “low-level” criminals caught with a couple ounces of drugs on them.

Of course, in typical fashion, the President took to Twitter to brag about his latest “accomplishment.”

BREAKING: @POTUS has now commuted the sentences of 1,176 deserving people—more than the past 11 presidents combined. https://t.co/NoOfhZTaXJ pic.twitter.com/VqRTtkKhzU

— The White House (@WhiteHouse) December 19, 2016

And here is the full statement from the President’s White House blog released earlier today. As usual, the post ends with a vow to grant even more pardons over the coming weeks as Obama approaches the end of his time in the White House.

Today, President Obama granted clemency to 231 deserving individuals — the most individual acts of clemency granted in a single day by any president in this nation’s history. With today’s 153 commutations, the President has now commuted the sentences of 1,176 individuals, including 395 life sentences. The President also granted pardons to 78 individuals, bringing his total number of pardons to 148. Today’s acts of clemency — and the mercy the President has shown his 1,324 clemency recipients — exemplify his belief that America is a nation of second chances.

The 231 individuals granted clemency today have all demonstrated that they are ready to make use — or have already made use — of a second chance. While each clemency recipient’s story is unique, the common thread of rehabilitation underlies all of them. For the pardon recipient, it is the story of an individual who has led a productive and law-abiding post-conviction life, including by contributing to the community in a meaningful way. For the commutation recipient, it is the story of an individual who has made the most of his or her time in prison, by participating in educational courses, vocational training, and drug treatment. These are the stories that demonstrate the successes that can be achieved — by both individuals and society — in a nation of second chances.

Today’s grants signify the President’s continued commitment to exercising his clemency authority through the remainder of his time in office. In 2016 alone, the President has granted clemency to more than 1,000 deserving individuals. The President continues to review clemency applications on an individualized basis to determine whether a particular applicant has demonstrated a readiness to make use of his or her second chance, and I expect that the President will issue more grants of both commutations and pardons before he leaves office. The mercy that the President has shown his 1,324 clemency recipients is remarkable, but we must remember that clemency is a tool of last resort and that only Congress can achieve the broader reforms needed to ensure over the long run that our criminal justice system operates more fairly and effectively in the service of public safety.

Generally a full list of the drug dealers that will be released back on to the streets in the near future can be viewed on the Department of Justice website. That said, Obama seems to be releasing criminals faster than the DOJ can update their site, so you’ll have to check back later for the official list.

1,324 extra democrat voters and counting…
Bank Of Japan Leaves Policy Unchanged, Upgrades Economic Outlook
With a vote of 7 to 2, The Bank of Japan decide to change nothing about its monetary policy. While expected, some had suggested Kuroda might shift the 10Y target away from 0bps, but no – no change to asset purchases, no change to 10Y target level, and no change to policy rate. However, in what some say is a tilt towards future tightening, The BoJ upgraded its view of the Japanese economy.
- BOJ keeps monetary policy unchanged, as predicted by all 39 economists surveyed by Bloomberg.
- BOJ: Japan’s Economy Has Continued Moderate Recovery Trend
- Bank of Japan Keeps 10-Year JGB Yield Target at About 0%
- BOJ Maintains Policy Balance Rate at -0.100%
- BOJ statement lists all the usual risks – China, Brexit, uncertainty in the U.S. And, interestingly, it flags worries about euro zone debt and European banks, the crisis that everyone seems to have forgotten (except the BOJ it seems).
There is a small (negative) reaction in yen…

Unusuallym there are no wild-cards in this statement, but as Bloomberg’s Brian Fowler notes, the one key takeaway is that BOJ upgrades view of Economy. One more piece of evidence suggesting next move will be toward tightening rather than loosening.
Make America "Greater Fools" Again?

Submitted by Lance Roberts via RealInvestmentAdvice.com,

The post-election euphoria has been quite amazing as the markets have surged more than 8% since then. Of course, the election of Donald Trump was supposed to be a disaster, but that rhetoric quickly changed, at least for now.

Not surprisingly, the media has reported each notch of “new highs” with joyful glee culminating with last week’s Barron’s cover “Get Ready For Dow 20,000”. It was not just Barron’s getting “giddy” over the millennial milestone, but the majority of the financial media and press has been salivating with anticipation of being able to don ball caps commemorating the occasion.

Unfortunately, for most investors, the headline is probably right. As I stated in the most recent newsletter:

“I still suspect there is enough bullish exuberance currently to push the Dow to 20,000 and the S&P to 2,300 by the end of the year. However, I am more concerned about what happens next.”

The reason I say it is “unfortunate” for most investors, is because investors have a tendency to do exactly the opposite of what they should do when it comes to investing – “Buy High and Sell Low.” The reality is that the emotions of greed and fear do more to cause investors to lose money in the market than being robbed at the point of a gun.

Take a look at the composite bullish sentiment chart below which is a compilation of individual and professional investors. (AAII, INVI, MarketVane, and NAAIM)

Typically, when sentiment has been this “bullish” markets have been near short to intermediate-term peaks, or worse. We can also examine investor behavior by looking at fund flows of individuals over time. Not surprisingly, investors tend to buy the most near market peaks and sell the most near market bottoms.

Since investors are mostly individuals that have a “day job,” the majority of their “research” comes from a daily dose of media headlines. Therefore, since the media tends to “focus” their attention on “market moving headlines,” either bullish or bearish, investors tend to “react” accordingly.

During market declines, investors tend to panic and sell out of stocks with the majority of the selling occurring near the lows. Conversely, as the markets begin to rally from deeply oversold conditions, investors continue to sell as they disbelieve the rally and are just happy to be getting some of their money back. However, as the rally continues to advance, investors are “lured” back in as the “greed factor” overtakes their logic. Unfortunately, this buying always tends to occur at, or near, market peaks.

I have used the analogy many times in the past the market is like a rubber band. During bullish trends, the market can get stretched to extremes from the moving average for a short period of time before it snaps back.

The “Greater Fool” Theory.

As investors, our job now is to be selling off our investments to those “greater fools” that are willing to overpay for an asset. Heading into the election, it was believed that if Donald Trump was elected it would be “a crisis” for the markets. Heading into election night, the market sold-off and was trading at 3-standard deviations below the moving average. Regardless of who won, the negativity of the market had set it up for a rally. Currently, at 3 standard deviations above the 60-day moving average, the “Donald Trump Is Great” rally is likely complete as opposite extremes have now been reached.

This is not something seen just recently, but at the peak and trough of every correction over time. The market is pushing extremes rarely seen at the beginning of a next “leg higher” in the markets.

So, while the media is busy putting on party hats and penning articles that the “Market Is Back” – just remember that we have been here before – both on the way up and the way down. More importantly, as I stated this past weekend:

“First, “record levels” of anything are records for a reason. It is where the point where previous limits were reached. Therefore, when a “record level” is reached it is NOT THE BEGINNING, but rather an indication of the MATURITY of a cycle. While the media has focused on employment, record stock market levels, etc. as a sign of an ongoing economic recovery, history suggests caution. The 4-panel chart below suggests that current levels should be a sign of caution rather than exuberance.”

The point here for individuals trying to save for their retirement is that “getting back to even is not an investment strategy.” While the media continues to tout every advance to a previous level as the coming of the next great bull market – keep in mind that this has nothing to do with your money or investing. Bonds and cash have outperformed the stock market over the last two decades – yet individuals, chided along by the media and Wall Street, still chase the worst performing asset class over that time frame.

Let me turn this around.

As markets advance in price, the risk of investing money, or rather the potential for loss, grows. It is when markets decline that we should be getting excited about investing. Yet, it is exactly the opposite of how individuals react. The media should be hitting the airwaves on down market days with “The market got CHEAPER today as the S&P 500 declined…”

The reality is, however, that declining markets don’t sell products of mutual funds companies or Wall Street brokerage firms. Declining markets are not as fun as advancing markets, and investors just want to make money.

Unfortunately, it just isn’t that easy.

It is interesting that people spend years in school to become Doctors, Lawyers and Engineers but spend virtually no time studying and learning the most complicated game in the world – investing. Yet this is the game that they commit their hard-earned dollars to playing every day.

If you ask an individual if they would take their entire 401k plan and go to Vegas to gamble with it – they will look at you as if your crazy. That same individual, however, speculates with their retirement funds in a “virtual casino” every day with the hopes that somehow it will turn out to be a greater sum down the road.

Why? Because the media tells them that is what they must do.

However, there is ample evidence they absolutely “suck” at doing so, which is also confirmed by the average retirement plan savings balance.

Since most investors lose money in the markets over time due to fees, emotional biases, trading mistakes, etc. – the odds in Vegas might just be better.

To be a successful investor you have to be part historian, statistician, economist, financial analyst, and a fortune teller all rolled into one. Even with the requisite skills, education, and experience, investing for the long-term successfully is still a challenge in an environment where markets are inefficient, and to many degrees, affected by Central Bank influences.

Here is my point. With markets trading at extremes, bullish exuberance at peaks and monetary policy tightening – this might be a good time to locate one of those “greater fools” to sell to.

Of course, this is just the opposite of what the media is telling you to do currently.
The Best Election Map Yet

Behold, the Clinton archipelago…

h/t @JohnCardillo
Wall Street’s Shills Are Starting to Feel Trump’s Chinese Cold War Chills

Jim Cramer looked a little worried this evening, during his Maddening Money programme. All throughout the elections, the establishment elite, globalist shills, underestimated Trump’s desires to make America great again. With today’s electoral college win and Trump’s persistent lack of subservience to China, the shills on Wall Street are starting to wonder if it’s really happening.

It really is this time, happening that is.

In the brief clip below, Cramer summarizes what he believes to be Trump’s position on China, which plainly states we’re already in a trade war with China and Trump isn’t gonna take it anymore, God damn it. According to Goldman Sachs, these companies have the most exposure to China.

Content originally generated at iBankCoin.com