[KR748] Keiser Report: Power of alternative media

We discuss how it is that the cultists, conspiracy theorists and crackpots as unemployed journalists refer to bloggers and alternative media have been ages ahead of bootlicking, war-pushing, no-talking about TTIPing mainstream media. In the second half, Max interviews Tom Coughlin of BullionCapital.com about the company’s gold trading platform, the fate of the LBMA and more.


More Clinton Foundation Cronyism – The Deal to Sell Uranium Interests to Russia While Hillary was Secretary of State

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If you looked at the U.S. economy under a microscope, what you’d see is a gigantic cancerous blob of cronyism surrounded by tech startups and huge prisons. If you zeroed in on the cancerous tumor, at the nucleus you’d see a network of crony institutions like the Federal Reserve, intelligence agencies, TBTF Wall Street banks and defense contractors. Pretty close to that, you’d probably find the Clinton Foundation. A veritable clearinghouse for cronyism masquerading as a charity.

Read more here.

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Ten Wonderful Things I’m Grateful For (Irony Alert)

Being grateful boosts your happiness. Ten wonderful things I’m grateful for.

Since every volume on the nearly endless shelf of pop psychology self-help books recommends working up some gratitude as the key to happiness, I’ve conjured up a list of what I’m grateful for. (Please turn your irony setting on.)

Read more ›

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Do This, But Never Do This

Do This: If you haven’t read Decisions, then what are you waiting for? Get it; read it!

Review by Nomi Prins, author of All the Presidents’ Bankers and It Takes a Pillage

Decisions: Life and Death on Wall Street“Janet Tavakoli is a born storyteller with an incredible tale to tell. In her captivating memoir, Decisions: Life and Death on Wall Street, she takes us on a brisk journey from the depravity of 1980s Wall Street to the ramifications of the systemic recklessness that crushed the global economy. Her compelling narrative sweeps through her warnings about the dangers of certain bank products in her path-breaking books, speeches before the Federal Reserve, and in talks with Jaime Dimon.”

“She probes the moral complexity behind the lives, suicides and murders of international bankers mired in greed and inner conflict. Some of the people that touched her Wall Street career reflect broken elements of humanity. The burden of choosing money and power over values and humility translates to a loss for us all.” Read more…

Here’s a blurb from ProPublica’s Jake Bernstein after he read Decisions:

“Tavakoli takes us on a scenic tour of the recent lowlights of Wall Street and the industry’s handmaidens in Washington from the perspective of an insider…demystified and rendered tragically human. It’s a compelling tale.”
Jake Bernstein, winner of the Pulitzer Prize for National Reporting

Get it from Amazon as a trade paperback or eBook. No Kindle? No problem. Download a free app and read it on any device.

But Never Do This

A reporter from a well-respected financial newspaper called me about the SEC’s complaint against a high profile female money manager and asked about CDOs and overcollateralization tests. He was going down a rabbit hole. I wondered if the reporter, and most of the other reporters who wrote on this matter, bothered to read the SEC’s complaint.

This is not a matter of who knew and/or said what when, and it isn’t a complicated case. Here’s what you need to know; everything else is icing on the SEC’s allegations:

The SEC’s complaint states (Point 7):

“…[Manager] certifies these financial statements and represents that they are prepared in conformity with generally accepted accounting principles (‘GAAP’).”

Yes, you read that correctly. The SEC alleges the money manager “certifies” her own financial statements, and if you read points 57-60, you’ll see she provided a cover letter, a certification that “provides, in part, that the balance sheet and income statements provided are prepared in accordance with U.S. GAAP.” But according to the SEC’s complaint, they were not.

The SEC also alleges (Point 8):

“However, contrary to these statements, Respondents do not prepare the financial statements in conformity with GAAP. Significantly, rather than applying a GAAP-compliant impairment methodology, Respondents impair assets only when [the manager] decides to withdraw support for a distressed company. This approach mirrors the discretionary approach [the manager] uses to categorize assets and does not conform with GAAP. It is also inconsistent with other disclosures in the financial statements that falsely indicate that Respondents assess and consider impairment issues and the fair value of the Funds’ loan assets.”


Middle East a Powder Keg as Saudi Bombing of Yemen Resumes

Middle East a Powder Keg as Saudi Bombing of Yemen Resumes

- Saudi operation in Yemen enters new phase as U.S. and Iranian Navies gather in the Gulf of Aden
- Saudi’s blame Houthi rebels and Iran for Saudi bombardment of Yemen, supported by US
- Chinese President Xi calls Saudi King Salman urging speedy resolution to crisis, Chinese media take neutral stance
- Russian media describes Saudi operation as ethnic cleansing and Iranian media emphasise that Saudi is operating without a UN mandate to restore their ally, the former President, to power in Yemen


While the US beefs up its navy presence around the Gulf of Aden – apparently in response to Iran dispatching a navy convoy to bring arms to the Yemeni rebels – the Saudi’s operation has entered a new phase.

Following an initial announcement on Wednesday that Saudi Arabia was to end its bombardment of Yemen, it later resumed bombing of rebel positions.   The risk of a ‘proxy’ war remains real.

U.S. Navy officials confirmed to AP that the aircraft carrier USS Theodore Roosevelt is in Yemeni waters to intercept an Iranian weapons shipments. This was then denied and the U.S. said it was there to “keep shipping lanes in the region open” as Iran parked two warships off the Yemeni coast.

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The resumption of violence was played down by the Saudi government who insist that any further bombings will be in response to Houthi rebel actions.

Iran’s Press TV reports, “Saudi government spokesman Brigadier General Ahmed al-Assiri, in a broadcast late on Tuesday, announced the termination of the first phase of the Saudi war on Yemen, which was codenamed as the so-called Decisive Storm against Yemen.” Read more ›


Wedges and Triangles: Big Move Ahead?

The central bank high is euphoric, the crash and burn equally epic.

Just out of curiosity, I called up a few charts of key markets: stocks (the S&P 500), volatility (VIX), gold and the U.S. dollar (UUP, an exchange-traded fund for the dollar). Interestingly, all of these charts displayed some version of a wedge/triangle.

In a wedge/triangle (a formation with many variations such as pennants), price traces out a pattern of higher lows and lower highs, compressing price action into the apex of a triangle as buyers and sellers reach an increasingly unstable equilibrium.

As price gets squeezed into a narrowing band, the likelihood increases that price will break out of the triangle, either up or down, in a major move.

So which way will these markets break–up or down?

Read more ›

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11-Year-Old Kansas Boy Taken Away from Mom Due to Her Use of Cannabis Oil to Treat Crohn’s Disease

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Taking a child away from its parents is one of the most serious and emotionally traumatizing things you can do. Anyone tasked with such extraordinary power should take the responsibility extremely seriously. Unfortunately, that’s not how Child Protective Services (CPS) in Kansas sees things.

This is the story of an 11-year-old boy who bravely defended his mom’s used of cannabis oil during a anti-drug program at his school. His mother suffers from Crohn’s disease and uses cannabis oil to treat her symptoms. If she lived here in Colorado, or any of the other 23 states enlightened enough to permit adults to use a plant for medical purposes, her son (who obviously loves his mom enough to defend her in class) would still be with her.

Read more here.

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[KR747] Keiser Report: Gyrocopters & Glitter Bombs

We discuss gyrocopters and glitter bombs as a solitary acts of Global Insurrection Against Bankster Occupation (GIABO) in a day of gulags when organising collective actions can be extremely dangerous. We also discuss Kim Dotcom’s plans for an equity crowd funding campaign for MegaNet and the ‘inconceivable’ negative interest rates on some mortgages in Spain. In the second half, Max interviews Professor John Mill Ackerman about protest parties in Mexico, including Morena, and the economic crisis driving them.


Central Bank Governor Veers Off Script, Sees “Illusion of Liquidity” & “Asset Bubbles,” Dreads Crash

Agustín Carstens, governor of the Bank of Mexico and chairman of the IMF’s International Monetary and Financial Committee, is an absolute insider at the top echelons of international finance and central banking. He’s not an opponent of QE and interest rate repression practiced so passionately in the US, the Eurozone, the UK, Japan, and other developed economies. Or at least, he has carefully toed the line. But he unleashed some stark warnings about how all this might turn out.

Read… Central Bank Governor Veers Off Script, Sees “Illusion of Liquidity” & “Asset Bubbles,” Dreads Crash 


Currency Wars Back As Russia Buys Gold – One Million Ounces of Bullion in March Alone

Currency Wars Back As Russia Buys Gold – One Million Ounces of Bullion in March Alone

- Russia buys one million ounces and increases gold reserves by another 2.6% in March
- Russia sees gold as important monetary and strategic asset in stealth currency wars
- Large purchase by Russia who normally buy some 300,000 ounces
- Russian gold reserves, at nearly 40 million ounces, are now fifth largest in the world
- Russia likely coordinating gold reserve accumulation with Ex Soviet States
- Concerns re euro and of crisis in erstwhile reserve currency, the dollar
- Gold remains central to international monetary system
- Central banks continue to accumulate large volumes

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Russia increased its gold holdings by one million ounces in March, bringing its total reserves to nearly 40 million ounces or 1,238 metric tonnes. The Russian one million ounce gold purchase is a large one even by Russian standards as in recent years they have consistently been buying roughly 300,000 ounces per month.

It followed a two month break from the gold market which had led to erroneous speculation that Russia was not interested in increasing its gold reserves any further.

Since 2005, Russia’s gold reserves have increased three-fold. As a comparison, in the second quarter of 2009, Russia only had 550 tonnes of gold in its official reserves meaning that their reserves have doubled in recent years.

Russia’s gold reserves are now at least the fifth largest national gold reserves in the world or sixth largest if one includes the IMF. Read more ›

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Kim Jong Camer-Un rallies the troops by Sketchaganda

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Meet Cyber P3 – The U.S. Military’s Public-Private Partnership to Create Corporate/Government “Cyber Soldiers”

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If there’s one thing I’ve learned over the years, it’s that whenever you hear the term “public-private” partnership, brace yourself for a screw job of epic proportions. It’s in exactly the same vein as the classic observation uttered by the late comedian, George Carlin, about politics:

The word bipartisan means some larger-than-usual deception is being carried out. 

It makes perfect sense if you think about it. If you’re a large corporation, there’s nothing better than guaranteed profits; and there’s no better way to guarantee profits than by going into business with the one entity that can do this: government. On the other hand, if you are an ambitious and greedy politician, what better way to earn a fortune while ostensibly engaging in “public service” than by lining the pockets of big corporations, which will then line your pockets in return in various opaque ways. Extraordinary fees for speeches is one preferred way of doing this, as is the classic revolving door that gives the person a cushy corporate job after leaving government.

Read more here.

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