Satellite images show that North Korea has expanded a facility linked to long-range nuclear missile production, according to an analysis given to NBC News. A temporary structure that accommodates a launcher arm is seen in satellite photos from Planet Labs, NBC reported, citing Jeffrey Lewis, the director of the East Asia Nonproliferation Program at the Middlebury Institute of International Studies. “We believe North Korea erects this structure when the facility is involved in producing or modifying [intercontinental ballistic missile] launchers,” he wrote in an analysis, according to the news outlet. Lewis told NBC that there is “activity at a number of locations indicating that North Korea is laying the groundwork for an expansion of their ICBM program — more systems, more buildings, more capabilities.” North Korea recently warned of a “Christmas gift” for the U.S. after setting an end-of-year deadline for nuclear talks. The Asian country also has made other escalations, including saying it has carried out a “very important test” at a satellite launch facility and that denuclearization is off the table. Nick Note: Kim Yon Num Chucks has got 100 nuclear war heads. And i am sure he wants to launch 20 or so on the US when the times is right. Nothing says i love you like a ICBM up the ass……. Bro Bro!
Trump signs $1.4T in spending package, averts government shutdown
Easy to Vote in Socialism Hard to SHOOT Your Way Out
The Bolsheviki (means minority) revolution took a year! They enslaved over 500 million people. And Stalin murdered over 20 million. And it took over 50 years and countless deaths to free PART of Easter Europe…… Now the the question is how long can they stay free. Think Ukraine!
The Fed Is Entrenched in the Repo Market… The only escape is a CRASH!
(Bloomberg) — At the Federal Reserve, 2020 will be all about making the repo market boring again. Policy makers will find this easier said than done. The central bank’s liquidity injections — including almost half a trillion dollars earmarked to ensure New Year’s Eve is a snooze — and Treasury bill purchases have nudged the vital market for repurchase agreements back toward normalcy after a funding crunch sent rates soaring in September. This has anchored the Fed’s benchmark rate firmly within policy makers’ preferred range of 1.50% to 1.75% and caused T-bill yields to fall. But next year will test whether the Fed can end its interventions without chaos re-emerging. Chairman Jerome Powell recently said the Fed isn’t trying to eliminate all volatility from markets. However, if the repo market is erratic, it signals the Fed doesn’t have good control over the financial system’s plumbing. That’s something policy makers and the broader market can’t tolerate. “It is all about credibility,” said Peter Yi, senior vice president of short duration fixed income at Northern Trust Asset Management in Chicago. “Even if you announce some fancy new trains, you also have to make sure they run on time. The Fed is going to have an important role in how 2020 plays out.”
Since the rate on overnight repo spiked to 10% on Sept. 17 from around 2%, the central bank has been conducting overnight and term repo operations to help rebuild banking reserves, adding $237 billion of liquidity. It’s also prepared to inject up to $490 billion around Dec. 31.
This year proved the repo market isn’t working without the Fed’s help, and the next issue is how to wean the market off of these liquidity injections without causing a disruption, according to Lale Topcuoglu, senior fund manager and head of credit at J O Hambro Capital Management Ltd.
“We may have December in control,” Topcuoglu said on Bloomberg Television. “The question is, there’s January. There’s February. There’s March quarter-end. There’s April.”
The last month on her list could be especially tricky. The U.S. tends to issue fewer Treasury bills in April because Americans’ income-tax payments leave the government flush with cash. This could eventually create “intense competition” for T-bills, especially with government-fund assets at record levels, said Jefferies money-market economist Thomas Simons. That could drive bill rates even lower.
Money-market fund managers are already having to adjust their allocations. Rob Sabatino, global head of liquidity at UBS Asset Management, said the Fed’s intervention has caused funds to put less into repo and move out of T-bills and into coupons in order to boost their returns by a few basis points.
If downward pressure continues on short-term rates, Sabatino said money funds may opt to return to the central bank’s infrequently used overnight reverse repo facility. Usage of that program has dwindled to $5 billion a day in 2019, down from $11.9 billion in 2018. The Fed says it plans to buy $60 billion a month of T-bills to keep boosting reserves until sometime in the second quarter. But the timing is fluid given that policy makers haven’t figured out exactly how much the appropriate level of reserves is. Officials have said it’s probably at least where reserves were in September, which was about $1.3 trillion. Strategists at TD Securities and Bank of America suspect it’ll end up around $1.6 trillion to $1.7 trillion. Nick Note: Hear me well. It started like this in 2006 by 2008 they lost the system. They Barely recovered it. Millions of people lost everything and never recovered. This time Billions of people will lose everything. And the baby boomers will end up in Boomerville HELL! Their wil be no recovery this times.
“The Fed has not given the market really any good guidance about what the end game is, and frankly it’s high time,” said Mark Cabana, head of U.S. interest rate strategy at Bank of America. He wants more concrete guidance on the level of reserves the central bank is targeting and on the prospects for regulatory changes.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said in October that the bank was unable to deploy cash to calm the market because of liquidity regulations put in after the 2008 financial crisis. Powell said he’s open to ideas for modifying supervisory practices that don’t undermine the safety and soundness of the financial system.
Many market participants want a sense from the Fed on whether it will create a standing repo facility, a tool that would let eligible banks convert Treasuries into reserves on demand at an administered rate. Powell said Dec. 11 that it will take some time to evaluate and create parameters for that.
Northern Trust’s Yi said the Fed will eventually have to establish a more permanent facility with expanded counterparties, as well as continue bill purchases to boost excess reserves. Given Powell’s comments, UBS’s Sabatino is skeptical the central bank will ever introduce such a tool, even though many are clamoring for it.
“I wouldn’t hold my breath on a standing repo facility in the first half of next year or any time at all,” he said.
This lack of clarity on the Fed’s long-term objectives increases the likelihood the central bank becomes more entrenched in the daily fabric of the funding markets. That will make it harder for the space to function on its own and even more difficult for policy makers to untangle themselves.
“Every single day we’re getting our funding from the Fed, that starts to get ingrained in the business,” said NatWest Markets strategist Blake Gwinn. “The longer they go on as the major source of liquidity, the harder it’s going to be to extricate themselves.”
–With assistance from Emily Barrett.
To contact the reporter on this story: Alexandra Harris in New York at aharris48@bloomberg.net
To contact the editors responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net, Nick Baker, Greg Chang
Boomerville is here They are getting ready fr YOU!
Dorm Housing, Communal TVs, Underground Tunnels Envisioned For ‘All-Inclusive’ $3 Billion, 300-Acre City For The Homeless
LOS ANGELES (CBSLA) – A California crowdfunding effort is hoping to solve the U.S. homeless crisis by building a 300-acre city open exclusively to those without a home Daune Nason, founder of the Folsom-based Citizens Again, released details Thursday of his plans for an estimated $3 billion private city equipped with amenities and services for a 150,000 “high-needs” population.
California’s homeless population in 2018wasalmost 130,000, nearly a quarter of the national total, according to the most recent federal data. “Qualified citizens” – those who meet as-yet undisclosed criteria – will be allowed to live in the city and are free to leave whenever they wish, says Nason, who adds, “Some might want to stay forever.” According to a press release, the all-inclusive city will offer high-density housing in dormitories consisting of sleeping quarters and communal bathrooms with private showers.
Residents would be provided RFID-enabled wristbands to gain access to their dorm rooms as well as perform tasks such as job check-in, purchasing items with credits, medicine consumption, and more.
Each of the four neighborhoods will have their own cafeteria and kitchen and multiple scheduled eating times to accommodate a 150,000-person population, according to Nason. The neighborhoods will also be fitted with tiered seating for residents to watch TV in a community setting within their neighborhood. Part of the effort will involve building underground tunnels by which deliveries can be made and city workers can commute to job sites in order to “minimize disruption of citizen life”, according to Nason. And when those living in the city are prepared to leave, they’ll be provided with job and life skills training along with counseling and therapy, Nason said. “It will be a city they’ll want to live in, a community they’ll want to be part of, and for those that desire, an opportunity to gain life skills to integrate back into society,” according to the Citizens Again website. A GoFundMe effort with a goal of $50,000 for the proposed city had raised just $60 as of Thursday. Nick Note: Boomers be aware. They are coming for your wealth… And you will not lke what they got planned for you!
‘Christianity Today’ anti-Trump editorial is a sign of things to come
The dam has broken: Some evangelical Christians are turning against Donald Trump in the immediate wake of his impeachment by the House of Representatives. This was bound to happen, as Trump is the least likely man in the known universe to support if you wish to take into account the example and teachings of Jesus. But I didn’t expect the reversal to come with such thunder, from Christianity Today, a flagship publication of the evangelical movement. This magazine represents the movement in a profound way. It was founded by Billy Graham himself in 1956, and it’s been a beacon for evangelicals. My father, who was a Baptist minister, waited eagerly for its arrival in the mail, and I did as well. Over the years, I’ve admired its consistently level-headed approach to Christianity as a faith that must bear upon the actions of the individual. Mark Galli, its current editor (who is leaving the publication in two weeks) takes on Trump directly — a courageous move on his part, as his magazine has largely been apolitical. “The facts in this instance are unambiguous: the president of the United States attempted to use his political power to coerce a foreign leader to harass and discredit one of the president’s political opponents,” Galli writes. He draws the obvious conclusion for Christians: “That is not only a violation of the Constitution; more importantly, it is profoundly immoral.” Galli goes further, digging into the behavior of the man in the Oval Office, noting that Trump “has dumbed down the idea of morality in his administration.” He gets specific: “He has hired and fired a number of people who are now convicted criminals.” As if that wasn’t enough, Galli adds, “He himself has admitted to immoral actions in business and his relationship with women, about which he remains proud. His Twitter feed alone — with its habitual string of mischaracterizations, lies, and slanders — is a near perfect example of a human being who is morally lost and confused.” Galli’s warning to Christians is clear. “To the many evangelicals who continue to support Mr. Trump in spite of his blackened moral record, we might say this: remember who you are and whom you serve,” Galli writes. “Consider how your justification of Mr. Trump influences your witness to your Lord and Savior. Consider what an unbelieving world will say if you continue to brush off Mr. Trump’s immoral words and behavior in the cause of political expediency. If we don’t reverse course now, will anyone take anything we say about justice and righteousness with any seriousness for decades to come?” Nick Note: What took you so long? I have been outraged that the Christian right supported Trump to begin with. Well late enough is not to late…. Its time to stand up and be counted.
Continue reading “‘Christianity Today’ anti-Trump editorial is a sign of things to come”
US Steel to idle Zug Island plant, leading to 1,500 layoffs
Merry Christmas……
Britain has taken a pivotal step towards leaving the European Union
Boris Johnson was rewarded for the Conservatives’ thumping general election victory with a majority of 124 for his Brexit deal in the House of Commons. Addressing MPs on Friday morning, the prime minister sought to draw a line under three years of bitter parliamentary conflict, urging his colleagues to “discard the old labels of leave and remain”. After comfortably passing its second reading by 358 votes to 234, the withdrawal agreement bill is on track to complete its passage through both houses of parliament in time to allow Brexit to happen at the end of January. Charles Michel, the president of the European council, welcomed the vote, tweeting that it was an “important step in the article 50 ratification process”. He added: “A level playing field remains a must for any future relationship,” referring to the EU’s demand for fair competition in exchange for a free-trade agreement with zero tariffs and zero quotas. Johnson claimed that pressing ahead with Brexit would “allow the warmth and natural affection that we all share with our European neighbours to find renewed expression in one great new national project of building a deep, special and democratically accountable partnership with those nations we are proud to call our closest friends”. If the next stages at Westminster go to plan, the European parliament is expected to ratify the withdrawal agreement on 29 January, paving the way for the UK to leave the bloc two days later. Jeremy Corbyn said Labour would continue to oppose the government’s Brexit deal, but six Labour MPs defied the party whip and voted with the government, and around 20 more deliberately abstained, including the shadow housing secretary, John Healey. In a statement on his website published shortly after the vote, Healey said: “In a Brexit referendum and a Brexit election the public have now been clear, and so should Labour: our fight must be about the type of Brexit and the huge difference between Labour and Conservative visions of our economy. Any question about whether Brexit goes ahead has been closed.” When the convincing result of the vote was announced, helped by more than 100 new recruits to the government benches, one Tory MP was caught on microphone exclaiming: “Back of the net.” Tory MPs tweeted selfies of a packed voting lobby, swelled by the influx of new Conservative members. Johnson’s promise to “get Brexit done” formed the centrepiece of his election campaign. “This vision of the United Kingdom’s independence, a vision that inspires so many, is now, if this parliament, this new parliament, allows, only hours from our grasp,” Johnson told the Commons. “The oven is on, so to speak, it is set at gas mark four, we can have it done by lunchtime, or late lunch.” Nick Note: A crash out is more likely then ever. What people fail to understand: Britain is subject to ALL European laws and trade deals while it TRIES to negotiate its way out of Euro HELL. Get this during this ha ha ha negotiation the European Union is free to pass binding laws on England and as a result of this vote come January 31st England has no input on the laws that they are bound by. How do you think that is going to work out.
Palladium retreats nearly $112 an ounce to suffer biggest daily drop on record
Palladium futures suffered Thursday from their sharpest daily dollar decline on record, losing nearly $112 an ounce for the session to mark a significant retreat from a recent string of record settlements tied to an expected surge in auto-industry demand. June palladium US:PAM9 tumbled $111.80, or 7.9%, to settle at $1,309.70 an ounce Thursday, the lowest finish for a most-active contract since Jan. 31. Prices also saw the biggest one-day dollar decline based on records dating back to 1984, and largest daily percentage loss since May 2010, according to Dow Jones Market Data. Mark Cutifani, Anglo American’s NGLOY, -1.47% chief executive officer, said the recent rapid rise in palladium’s price has created a “bubble,” but he also believes the value of the metal is likely to remain high for some time, according to a report from the Financial Times, dated Wednesday. Immediately after the bubble comment from Cutifani, the European folktale “Henny Penny,” commonly known in the U.S. as “Chicken Little,” has “been visited upon palladium prices,” said R. Michael Jones, president and CEO of Platinum Group Metals, highlighting a well-known phrase from the story: “The sky is falling!” A “drop in Chinese car sales was the added a nut falling from the sky—and down goes the price,” Jones said. But “the facts are that supply is tight and falling, demand is growing.” Prices for the metal have climbed four months in a row through February on tight supplies and expectations for strong demand from the automobile sector because palladium is mostly used in pollution-controlling catalytic converters on gasoline-powered vehicles. Selling interest was generated from headlines touting the potential for ‘industrial rotation’ from palladium to platinum because of the recent differential of $700 between the two metals,” said analysts at Zaner Metals, in a note on Wednesday. Platinum is now much cheaper than palladium, and speculation that the industry may soon reach a point where it will be worth it to use platinum instead of palladium has grown. Nick Note: As you well know we have been shorting the shit out of Palladium… Laughing as the idiots the stupid money bid it higher and higher and higher….. I Love my job and its getting easier and easier as the millennials are given trillions in other peoples money that they do not have a clue how trade lose…..
Goldman Sachs may admit guilt, pay $2 billion fine to settle U.S. 1MDB probes: source
(Reuters) – Goldman Sachs Group Inc is in talks with the U.S. government and a state regulator to possibly pay up to $2 billion and admit guilt to resolve investigations into its role in the 1MDB Malaysian corruption scandal, according to a source familiar with the matter. The bank and U.S. officials have discussed a deal in which a Goldman subsidiary in Asia would plead guilty to violating U.S. bribery laws, the Wall Street Journal first reported here on Thursday. The discussions could also involve Goldman installing an independent monitor to oversee and recommend changes to its compliance procedures. Involved in the discussions are three federal regulators – the U.S. Department of Justice, Securities and Exchange Commission and the Federal Reserve – and New York’s Department of Financial Services, according to the source. In a statement, the bank said that settlement talks are ongoing and it continues to cooperate with regulators. The SEC and the Justice Department declined to comment. Representatives for the other regulators did not immediately respond to requests for comment. A settlement could be announced in late January, sources familiar with negotiations said. The government of former Malaysian Prime Minister Najib Razak set up the 1MDB fund in 2009, and the U.S. Justice Department estimated $4.5 billion was misappropriated by high-level fund officials and their associates between 2009 and 2014.
Goldman has been investigated by regulators in at least 14 countries, including the United States, Malaysia, Singapore and others, for its underwriting role and what it did and did not know at the time of the transactions.
In November 2018, the U.S. Justice Department filed criminal charges against two former Goldman Sachs bankers tied to the scandal, Tim Leissner and Roger Ng. According to the U.S. Justice Department, Goldman earned $600 million in fees for its work with 1MDB. Leissner, Ng and others received large bonuses in connection with that revenue. The bank has consistently tried to distance itself from the scandal, saying Leissner and Ng worked to conceal their criminal activities from bank management. Leissner pleaded guilty to the charges last year. Ng pleaded not guilty to charges in May, and his case is currently pending in federal court in Brooklyn. Nick Note: Their is no end to the sleazy deals and corruption. I believe that the coming wipout will end this scourge of mankind. Unfortunately million more will be moving into Boomerville……