LONDON (Reuters) – Scotland’s nationalist leader Nicola Sturgeon will consider “all reasonable options” if Prime Minister Boris Johnson tries to stop her from holding a referendum on Scottish independence, she said on Thursday. Sturgeon’s pro-independence, anti-Brexit Scottish National Party (SNP) won 48 of Scotland’s 59 parliamentary seats in last week’s UK-wide election, which she said showed overwhelming support for her agenda to hold such a referendum. As things stand, a referendum cannot take place without UK government consent. Sturgeon, who heads Scotland’s semi-autonomous government, said she would write to Johnson on Thursday asking him to enter negotiations on transferring the power to hold a referendum from London to Edinburgh. “The question is often posed to me: ‘what will you do if Boris Johnson says no?’ As I’ve said before, I will consider all reasonable options to secure Scotland’s right to self-determination,” she said in a speech. Sturgeon refused to be drawn on exactly what those options could be, although she signalled that she did not envisage a Catalonia-style referendum, organised without consent or recognition by the national government. “In line with our values, we acknowledge that a referendum must be legal and that it must be accepted as legitimate here in Scotland and the rest of the UK, as well as in the European Union, and the wider international community,” she said. Scots rejected independence by 55% to 45% in a 2014 referendum and Sturgeon said the case for Scotland to break away from the rest of the United Kingdom had not yet been won. She framed her strategy as a fight for Scotland’s right to self-determination. Johnson, whose Conservative Party won a landslide in England in last week’s election but performed poorly in Scotland, winning only six seats there, has said he would not allow a second referendum to take place. He says the 2014 vote settled the independence question and it would be divisive and bad for the economy to re-open the argument. Sturgeon argues circumstances have changed since the 2014 vote, mainly because a majority of Scots voted to remain in the European Union in a 2016 referendum, while the United Kingdom as a whole voted to leave. Britain’s exit from the bloc is scheduled for Jan. 31. Sturgeon said the SNP’s success in last week’s election showed Johnson had no mandate from the Scottish people to take them out of the EU against their will. She said Johnson’s attitude on the Scottish issue would push the country towards the exit door. “The more a Tory (Conservative) government seeks to block the will of the Scottish people, the more they show complete and utter contempt for Scottish democracy, the more support for independence will rise, so their short term strategy, in my view, sows the seeds of their longer term defeat.” Nick Note: This is the start of the Brexit crack up at the end of the runway.. its far far far from a done deal. And as you are seeing the stupid money is slowing stating to figure it out.
US Admits Sanctions Can’t Stop Russia-led Nord Stream 2 Pipeline
The U.S. sanctions aimed at derailing the Russia-led Nord Stream 2 gas pipeline from Russia to Germany came too late to have a meaningful effect on a nearly completed project, two senior U.S. Administration officials told Bloomberg on Wednesday. The U.S. Senate passed on Tuesday the National Defense Authorization Act (NDAA), a massive defense bill that includes slapping sanctions on companies helping Russia’s gas giant Gazprom to complete the Nord Stream 2 pipeline project. President Donald Trump has said he would quickly sign the bill, which also creates a Space Force, into law. The sanctions in the bill target subsea construction vessels that lay the pipeline and managers at firms connected with those vessels, two people familiar with the bill told Bloomberg last week. U.S. lawmakers have sought to pass a bill to levy sanctions on the Nord Stream 2 project, which the United States sees as further undermining Europe’s energy security by giving Russian gas giant Gazprom another pipeline to ship its natural gas to European markets. Germany, the end point of the Nord Stream 2 pipeline, looks at the economic benefits of the project, while the U.S., including President Donald Trump, have been threatening sanctions on the project and even on Germany over its support for the project. After the U.S. lawmakers included such sanctions in the defense bill, Germany’s Foreign Minister Heiko Maas said last week that “European energy policy is being decided in Europe, not in the US,” adding that Germany opposes intervention and extraterritorial sanctions. However, with the project nearly complete, the U.S. will have little leverage to stop it from going online, and Washington will focus on trying to prevent other Russian energy projects from happening, the senior officials told Bloomberg. Currently, the Nord Stream 2 pipeline is expected to come on stream in the middle of 2020, Russia’s Deputy Prime Minister Dmitry Kozak said last month, adding that construction of the project was 80 percent complete. Nick Note: If sanctions worked their would be no Cuba never mind Cohibas. And Iran would be making rugs and selling pistachios instead of ICBM rockets and Nukes. AND Venezuela would be selling coffee off the back of donkeys like Wan Valdez. And Russia would not be building pipelines transversing half the earth.
EIA Weekly Petroleum Report week ending December 13, 2019
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.1 million barrels from the previous week. At 446.8 million barrels, U.S. crude oil inventories are about 4% above the five year average for this time of year. U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending December 13, 2019, which was 35,000 barrels per day less than the previous week’s average. Refineries operated at 90.6% of their operable capacity last week. Gasoline production increased last week, averaging 9.8 million barrels per day. Distillate fuel production decreased last week, averaging 5.1 million barrels per day. U.S. crude oil imports averaged 6.6 million barrels per day last week, down by 308,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.4 million barrels per day, 15.1% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 519,000 barrels per day, and distillate fuel imports averaged 178,000 barrels per day.
Total motor gasoline inventories increased by 2.5 million barrels last week and are about 5% above the five year average for this time of year. Finished gasoline inventories decreased while blending components inventories increased last week.
Distillate fuel inventories increased by 1.5 million barrels last week and are about 7% below the five year average for this time of year. Propane/propylene inventories decreased by 2.5 million barrels last week and are about 10% above the five year average for this time of year. Total commercial petroleum inventories decreased last week by 0.9million barrels last week. Total products supplied over the last four-week period averaged 20.6 million barrels per day, down by 2.9% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.1 million barrels per day, up by 0.5% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels per
day over the past four weeks, down by 6.8% from the same period last year. Jet fuel product supplied was up 10.6% compared with the same four-week period last year.
BOOMERVILLE MILE OF HELL Homeless are us!
Inside the tent city that shames California where tiny strip of land provides squalid shelter for 3,000 homeless people
HOMELESSNESS is a “crisis” in America, including at a tent city in California where hundreds of people live among rats and rubbish in a mile-long encampment. One resident, Kat MacKay, says she’s fed up with the stink of decaying food and outbreaks of syphilis and vomiting infections in the Santa Rosa hellhole. There’s been a growing call across the US to help such stricken people get into housing, rather than risking their lives, camping in streets and other public spaces. California has the country’s largest homeless population – and it’s continuing to expand, according to Los Angeles Times. Latest stats show that there were about 130,000 people “on the streets on any given night statewide” in 2018, it reports. In Sonoma County, a mile-long homeless encampment along Santa Rosa’s Joe Rodota Trail is a source of anger for the local community. With people setting up tents along the bike and pedestrian path, residents believe homeless people have “taken over the area”. Angry locals have for months been targeting officials, demanding to have them removed from the beauty spot. Lisa Landrus, a member of Citizens for Action Now, told CBS in San Franciso: “When I see what this has done to the use and enjoyment of this area, I think how far does everyone else have to be pushed with the leniency involved with treating this group.” Nick Note: Hear me well. You think that can’t be you. I am here tell you it sure as shit can happen to us. they are going crazy with money laundering… Why? pretty simple they got to promise more and more to the stupid majority that keeps them in power. Us “rich” bastards are Regan’s now silent minority and we are doomed. Cash in the matters WILL NOT WORK! They are using artificial intelligence. In other words guilty to proven innocent. We have to change with the times…. more on this later.
I hope your are scared and here is why:
Warren plans to end ‘the flow of dark money’ as president.
“The flow of dark money puts good governance, the free exchange of ideas, and our national security at risk,” her plan says. “As long as individuals and corporations can launder stolen funds or contraband through real estate, luxury goods, or tax havens, both equality and economic growth suffer.”
Oil Inventories Rise Again As API Reports A Crude Build
The American Petroleum Institute (API) has reported a huge surprise crude oil inventory build of 4.7 million barrels for the week ending December 11. Last week saw a build in crude oil inventories of 1.41 million barrels, according to API data. The EIA’s estimates reported a slightley smaller build of 800,000 barrels for that week. After today’s reported inventory move, the net inventory moves so far this year—almost the end of the year–stand at a build of 3.22 million barrels for the last 51-weeks, using API data. The API this week also reported a huge build of 5.6 million barrels of gasoline for week ending December 11.
Distillate inventories saw a large build of 3.7 million barrels for the week, while Cushing inventories fell by 300,000 barrels.
US crude oil production as estimated by the Energy Information Administration showed that production for the week ending December 6 slipped to 12.8 million bpd off the all-time high of 12.9 million bpd in the week prior. Nick Note : I smell another trade coming here…. Can you guess what it is?
Warren unveils plan to end ‘the flow of dark money’ as president
US Senate Passes Defence Budget Bill Stipulating Sanctions on Nord Stream 2
Commentary in Russian with sub titles:
English report on DW news:
The US Congress passed a defence bill for 2020 on 11 December that includes new sanctions on contractors who are helping build Gazprom’s Nord Stream 2 pipeline. The curbs are aimed at preventing its completion, which is still expected this year. The US Senate has voted for a $738 billion defence budget, which includes sanctions on the Nord Stream 2 gas pipeline and military assistance to Ukraine, according to the results of the vote. The vote in the Republican-controlled Senate was 61-6 in favour of the National Defence Authorisation Act, or NDAA. The legislation calls for mandatory sanctions on Nord Stream 2 and Turkstream and bars military-to-military cooperation with Russia. The bill also sanctions Turkey over its acquisition of Russian S-400 air defence systems and prohibits the transfer of F-35 jets to the country. The bill also creates a sixth branch of the US military, the Space Force, and includes $71.5 billion for ongoing foreign wars or “overseas contingency operations”. The bill further requires that reports be provided on the threat posed by China and its military relations with Russia, also proclaiming that Congress unequivocally supports Hong Kong. Also included in the bill is a provision to impose sanctions on Syrian government troops for alleged war crimes committed during the country’s civil conflict.The 2020 defence budget was already passed by the lower house of Congress, and after the approval of the Senate, the document should be signed by President Donald Trump. He has already stated that he is ready to immediately sign the document. The defence budget reportedly includes funds for “countering Russia” in various fields, sanctions against Nord Stream 2, as well as the allocation of $300 million to help Ukraine. The operator of the Nord Stream 2 gas pipeline project, Nord Stream 2 AG, announced earlier in the day, that it planned to complete the pipeline in a few months, but did not intend to speculate on the completion date. Prior to this, the Bild tabloid reported with reference to an internal document of the German Ministry for Economic Affairs and Energy that Berlin expected Nord Stream 2 to be completed within 30 days in order to avoid US sanctions. Last week, Russian Foreign Minister Sergei Lavrov said in a press conference after meeting with Trump that US sanctions would not hinder the construction of the Nord Stream 2 pipeline project. The Nord Stream 2 is a joint venture between Gazprom and five European companies: France’s ENGIE, Austria’s OMV, the UK-Dutch Royal Dutch Shell, and Germany’s Uniper and Wintershall. The 745-mile-long twin pipeline will carry up to 55 billion cubic metres (1.942 trillion cubic feet) of gas per year from Russia to Germany, passing through the territorial waters or exclusive economic zones of Denmark, Finland, Germany, Russia, and Sweden. Germany has championed the pipeline since the beginning of the project despite Washington’s strong opposition. On 31 May, Merkel reiterated her support for Nord Stream 2 at a conference of the Federation of German Industries, saying the pipeline is a necessity for Germany given its aspirations to give up on nuclear and coal energy. The US has threatened everyone involved with sanctions, while promoting its own liquefied natural gas on the European market.Ukraine is also actively opposing Nord Stream 2, fearing to lose revenue from Russian gas transit. Russia has repeatedly stated that the project is absolutely commercial and competitive and that it does not imply the cancellation of the transit of Russian gas via Ukraine to the EU. Nick Note: German ex-chancellor Gerhard Schröde left politics and used his connections to head the gas consortum shareholders’ committee. This is a BIG deal US sanctions are years to late. Bottom line while America diddles around with Indian burial grounds pipelines the diameter of a milk carton straw and the length of a white mans dick. The Russians are building the biggest pipelines ever that literally transverse the globe. How do you think this is going to work out for coal great again buy my soy beans America under Trump?
Ameritrade-Schwab approval may take up to 10 months – Morgan Stanley
Charles Schwab’s (SCHW -0.4%) acquisition of Ameritrade (AMTD -0.2%) will likely take six to 10 months to gain regulatory approval, Morgan Stanley analysts, including Michael Cyprys, said in a note after talking with antitrust experts. Estimate probability of the transaction closing at higher than the 60%-70% that the market is pricing in; the lag in getting regulatory approval, though, “could lead to volatility in the stock and present buying opportunities,” the analysts wrote. They note that approval would have been easier had Schwab cut its commissions to zero after the merger. The analysts say the acquisition doesn’t hurt competition in the registered investment advisor market, but “was spawned from intense competition already existing in the marketplace.” Nick Note: it is a outrage that this kind of concentration of retail costumer funds woud be allowed. They will corn hole 70-80% of all retail trading accounts. And their clients lose 80% of the tme. And it aint no accident……
UK uses threat of Brexit cliff-edge to demand EU trade deal by end of 2020
LONDON (Reuters) – British Prime Minister Boris Johnson will use the prospect of a Brexit cliff-edge at the end of 2020 to demand the European Union gives him a comprehensive free trade deal in less than 11 months. In his boldest move since winning a large majority in last Thursday’s election, Johnson will use his control of parliament to outlaw any extension of the Brexit transition period beyond 2020. “Our manifesto made clear that we will not extend the implementation (transition) period and the new Withdrawal Agreement Bill will legally prohibit government agreeing to any extension,” a senior government official said on Tuesday. Asked if the government would legislate to rule out any extension of the transition beyond 2020, one of Johnson’s most senior ministers, Michael Gove, said: “Exactly, absolutely.”
After the United Kingdom leaves the European Union on Jan. 31, it enters a transition period in which it remains an EU member in all but name while both sides try to hammer out a deal on their post-Brexit relationship.
A comprehensive free trade deal would encompass everything from financial services and rules of origin to tariffs, state aid rules and fishing, though the scope and sequencing of any future deal is still up for discussion. The pound fell 1.2% to $1.3155 GBP=D3 and to 84.59 pence against the euro EURGBP=D3, levels where it had traded before the scale of Johnson’s victory became clear on Thursday evening and prompted strong gains. The pound is down more than 2% from a post-election high above $1.35 against the dollar. By enshrining in law his campaign promise not to extend the transition period beyond the end of 2020, Johnson cuts the amount of time he has to negotiate a trade deal to 10-11 months – and possibly quite a lot less, given the time needed for UK and EU parliamentary approval of any deal. The EU hopes to start the trade talks with Britain by March. Trade deals usually take many years. The 2,000-page EU-Canada trade deal known as CETA, or the Comprehensive Economic and Trade Agreement, took seven years to negotiate. While Johnson’s large majority gives him the flexibility to change the law should he need to, he is sending a message to the EU – whose leaders have cautioned London that more time would be needed for a comprehensive trade deal. If the United Kingdom and the EU failed to strike a deal on their future relationship and the transition period were not extended, then trade between the two would be on World Trade Organisation (WTO) terms – more burdensome for businesses. The EU insists it will not seal a trade deal with a large, economically powerful neighbour without solid provisions to guarantee fair competition. Its demands will focus on environmental and labour standards, as well as state aid rules to ensure Britain would not be able to offer products on the bloc’s single market at unfairly low prices. Britain’s conundrum is that it will be under pressure to loosen rules on agricultural and food standards to strike a bilateral trade deal with the United States. “It will be very complicated. It’s about an array of relations, in trade, in fishing and cooperation in security and foreign policy,” German Chancellor Angela Merkel told an EU summit news conference on Friday.
Sterling and Shares Slide Amid Reports of Possible Hard Brexit
Boris Johnson announced on 17 December that he would legally ensure there would be no extension over trade negotiations with the EU after 2020. The British Pound Sterling dropped 1.25% in value by 10 am 17 December, over fears that the UK may still face a ‘hard Brexit’ (an exit from the EU without any trade deal negotiated in advance). Corporate share prices also fell for companies exposed to the UK market. Unilever, the UK-headquartered consumer goods company, saw its shares fall by nearly 6% after it revised its sales growth projections downwards. After Unilever’s profit warning The European STOXX 600 also dropped by 0.6% following. The drops in sterling and shares follow the announcement by UK Prime Minister Boris Johnson that trade negotiations with the EU would end in 2020 come what may. Johnson announced on 17 December that he would seek to legally outlaw any extension to the EU withdrawal bill. Johnson’s Conservative Party won a landslide victory in the UK’s general election held on 12 December, which saw an initial boost in share prices of UK-based companies. Andy Scott, a financial analyst with JCRA, told the AFP:
“By outlawing an extension, it leaves very little time in which to agree on a comprehensive free trade agreement with the EU and means the clock is now ticking down to a firm cliff-edge (no-deal Brexit) next December.”
Reuters reports J.P. Morgan’s Malcolm Barr as saying:
“So much for pragmatism… We have put the risk of a no-deal end to the transition at 25%, a number we regard as uncomfortably high.”
JPMorgan’s basket of London-listed companies fell by 2.7%, following a post-election high of 9%. The slogan of the Tory Party during the general election was “Get Brexit Done.” Nick Note: Boris is a dick head (also elected by the STUPID money like trump) and as big a bullshit artist as Trump. I repeat their will be no No NO Brexit at the end of January. And i believe in the new year the Pound will get pounded……. The real exit will be Ireland and Scotland leaving the Common Wealth…. Then all hell will break loose.