investmentwatchblog--2020-06-03--The media lied about the Russia collusion hoax, about the Mueller probe, about impeachment, about th

The media lied about the Russia collusion hoax, about the Mueller probe, about impeachment, about the coronavirus—and now they’re lying about the riots.

Over the weekend we were told , for example , that the looting and violence was being instigated not by left-wing anarchists and antifa groups but by the media ’ s favorite villains : white supremacists .
CNN , whose Atlanta offices were vandalized Friday , went on and on—without a shred of evidence to back it up—about how white supremacists might be infiltrating the protests and stirring up trouble .
The New York Times , in a report that even quoted a senior police official in New York City saying outside anarchist groups were coordinating mayhem before the protests @ @ @ @ @ @ @ aside about how far-right “ accelerationists ” were hoping the unrest would bring about a long-sought second civil war .
By Monday , no one was talking about the white supremacist agitators anymore .
The media had moved on to better , more plausible lies .
Here ’ s Matthew Yglesias of Vox , disingenuously comparing the rioters and looters to pro-democracy protesters in Hong Kong .
His snarky tweet is meant to suggest Arkansas Sen. Tom Cotton is a hypocrite for supporting the Hong Kong protesters but calling for the restoration of @ @ @ @ @ @ @ have to point out to Yglesias—or anyone else with a large media platform—that the looters of Minneapolis and the rioters in Philadelphia have nothing in common with the people fighting against an actual communist dictatorship in Hong Kong .
Yet here we are .
This kind of disconnect—what can only be described , at best , as a willful misunderstanding of reality—has been disturbingly commonplace among media pundits and reporters since all this began .
Again , it should go without saying that the Michigan protests last month went off without any looting @ @ @ @ @ @ @ one was arrested because no one broke the law .
There ’ s no valid comparison between those Michigan protests and the mass riots over the weekend .
Surely Quintanilla knows this , which makes his commentary not just idiotic but deeply dishonest .
He doesn ’ t care about accuracy and genuine insight , he cares about plaudits from woke Twitter—and he got them .
At every turn we see different iterations of media dishonesty .
PBS Newshour ’ s White House correspondent Yamiche Alcindor on Sunday complained that Trump had called @ @ @ @ @ @ @ evidence.
” Had she opened her eyes , Alcindor might have seen the same evidence Trump and everyone else saw : news footage and cell phone videos circulating on social media of black-clad rioters burning and looting shops , attacking shop owners and motorists , and in some cases spray-painting actual anarchist symbols on public property .
Of course , Alcindor knows full well what the president meant by calling the rioters anarchists .
She knows that many of them are indeed anarchists and left-wing provocateurs .
We all know it .
As @ @ @ @ @ @ @ even reported on it .
Alcindor ’ s posture here is part of a broader pattern of opposition to Trump that the media has maintained for years , that whatever might be happening in the country , whether a global pandemic or mass rioting , the most important part of the story is always that Trump is behaving badly—that he ’ s lying , misleading , undermining democratic norms , tweeting mean things , whatever .
Nothing , not even nationwide riots , are more important than pushing that narrative .
You see @ @ @ @ @ @ @ narrative everywhere , no matter what the actual facts of a story might be .
In Columbia , South Carolina , a man trying to protect his business was attacked and beaten senseless by an angry mob because he dared to call the cops .
Yet Maggie Haberman of the New York Times thinks the big takeaway is that the man was described as “ white ” in a video of the attack that Trump posted about .
After Trump ’ s Monday night walk through Lafayette Park to St. John ’ s @ @ @ @ @ @ @ stories about violent Park Police clearing peaceful protestors with tear gas .
After nearly 24 hours of endless tweets , articles , and cable news stories claiming protestors were tear-gassed for Trump ’ s “ photo op , ” the Park Police information officer disproved all prior reports confirming , “ No tear gas was used by USPP officers or other assisting law enforcement partners.
” One could go on and on with examples like this .
Get on Twitter right now and you ’ re bound to find fresh examples posting every @ @ @ @ @ @ @ events that are unfolding in real time .
Every once in a while , you get a pundit who ’ s so bad at lying , so unconvincing in his role as a serious newsman , the mask slips .
Often , that pundit is CNN ’ s Don Lemon , a not-very-bright man with a penchant for letting his mask slip—like when he lost it on-air laughing at a stupid joke about how Trump supporters are ignorant rubes .
On Sunday , as American cities were burning and looters were rampaging through @ @ @ @ @ @ @ “ Open your eyes .
We are teetering on a dictatorship.
” He didn ’ t mean a dictatorship of the mob , which would have actually made sense given the facts .
No , for Lemon and his CNN colleagues the real threat is Trump , who had the audacity to declare that if mayors and governors couldn ’ t get their cities under control , he would .
“ Is the president declaring war on America ?
What is happening here ?
” asked Lemon , later declaring that Trump is @ @ @ @ @ @ @ because this will backfire.
” To answer Lemon ’ s question , what ’ s happening here is the same thing that ’ s been happening for years now : the media , not Trump , have declared war on America , they are indeed playing a dangerous game , and it will most certainly backfire .

by Venus230
Over the weekend we were told, for example, that the looting and violence was being instigated not by left-wing anarchists and antifa groups but by the media’s favorite villains: white supremacists. CNN, whose Atlanta offices were vandalized Friday, went on and on—without a shred of evidence to back it up—about how white supremacists might be infiltrating the protests and stirring up trouble. The New York Times, in a report that even quoted a senior police official in New York City saying outside anarchist groups were coordinating mayhem before the protests began, nevertheless veered into a long aside about how far-right “accelerationists” were hoping the unrest would bring about a long-sought second civil war.
By Monday, no one was talking about the white supremacist agitators anymore. The media had moved on to better, more plausible lies.
Here’s Matthew Yglesias of Vox, disingenuously comparing the rioters and looters to pro-democracy protesters in Hong Kong. His snarky tweet is meant to suggest Arkansas Sen. Tom Cotton is a hypocrite for supporting the Hong Kong protesters but calling for the restoration of order at home.
twitter.com/intent/like?tweet_id=1267514411914342404
No one should have to point out to Yglesias—or anyone else with a large media platform—that the looters of Minneapolis and the rioters in Philadelphia have nothing in common with the people fighting against an actual communist dictatorship in Hong Kong. Yet here we are.
This kind of disconnect—what can only be described, at best, as a willful misunderstanding of reality—has been disturbingly commonplace among media pundits and reporters since all this began.
Again, it should go without saying that the Michigan protests last month went off without any looting, rioting, or violence. No one was arrested because no one broke the law. There’s no valid comparison between those Michigan protests and the mass riots over the weekend. Surely Quintanilla knows this, which makes his commentary not just idiotic but deeply dishonest. He doesn’t care about accuracy and genuine insight, he cares about plaudits from woke Twitter—and he got them.
At every turn we see different iterations of media dishonesty. PBS Newshour’s White House correspondent Yamiche Alcindor on Sunday complained that Trump had called the rioters anarchists “without providing any evidence.”
Had she opened her eyes, Alcindor might have seen the same evidence Trump and everyone else saw: news footage and cell phone videos circulating on social media of black-clad rioters burning and looting shops, attacking shop owners and motorists, and in some cases spray-painting actual anarchist symbols on public property.
We are primarily funded by readers. Please subscribe and donate to support us!
Of course, Alcindor knows full well what the president meant by calling the rioters anarchists. She knows that many of them are indeed anarchists and left-wing provocateurs. We all know it. As mentioned above, the New York Times even reported on it.
Alcindor’s posture here is part of a broader pattern of opposition to Trump that the media has maintained for years, that whatever might be happening in the country, whether a global pandemic or mass rioting, the most important part of the story is always that Trump is behaving badly—that he’s lying, misleading, undermining democratic norms, tweeting mean things, whatever. Nothing, not even nationwide riots, are more important than pushing that narrative.
You see the media’s obsession with this narrative everywhere, no matter what the actual facts of a story might be. In Columbia, South Carolina, a man trying to protect his business was attacked and beaten senseless by an angry mob because he dared to call the cops. Yet Maggie Haberman of the New York Times thinks the big takeaway is that the man was described as “white” in a video of the attack that Trump posted about.
After Trump’s Monday night walk through Lafayette Park to St. John’s Episcopal Church, the media breathlessly reported stories about violent Park Police clearing peaceful protestors with tear gas. After nearly 24 hours of endless tweets, articles, and cable news stories claiming protestors were tear-gassed for Trump’s “photo op,” the Park Police information officer disproved all prior reports confirming, “No tear gas was used by USPP officers or other assisting law enforcement partners.”
The Media Are Playing A Dangerous Game
One could go on and on with examples like this. Get on Twitter right now and you’re bound to find fresh examples posting every hour as reporters and pundits lie about events that are unfolding in real time.
Every once in a while, you get a pundit who’s so bad at lying, so unconvincing in his role as a serious newsman, the mask slips. Often, that pundit is CNN’s Don Lemon, a not-very-bright man with a penchant for letting his mask slip—like when he lost it on-air laughing at a stupid joke about how Trump supporters are ignorant rubes.
On Sunday, as American cities were burning and looters were rampaging through the streets, Lemon implored America, “Open your eyes. We are teetering on a dictatorship.” He didn’t mean a dictatorship of the mob, which would have actually made sense given the facts. No, for Lemon and his CNN colleagues the real threat is Trump, who had the audacity to declare that if mayors and governors couldn’t get their cities under control, he would.
“Is the president declaring war on America? What is happening here?” asked Lemon, later declaring that Trump is “playing a very dangerous game, because this will backfire.”
To answer Lemon’s question, what’s happening here is the same thing that’s been happening for years now: the media, not Trump, have declared war on America, they are indeed playing a dangerous game, and it will most certainly backfire.
thefederalist.com/2020/06/03/the-media-are-lying-to-you-about-everything-including-the-riots/


investmentwatchblog--2020-06-03--Dr. Anthony Fauci says there’s a chance coronavirus vaccine may not provide immunity for very long

• White House health advisor Dr. Anthony Fauci said he worries about the “ durability ” of a potential coronavirus vaccine , saying there ’ s a chance it may not provide long-term immunity .
• If Covid-19 acts like other coronaviruses , “ it likely isn ’ t going to be a long duration of immunity , ” Fauci , director of the National Institute of Allergy and Infectious Diseases , told JAMA Editor Howard Bauchner .
White House health advisor Dr. Anthony Fauci said he worries about the “ durability ” of a potential coronavirus vaccine , saying @ @ @ @ @ @ @ not provide long-term immunity .
If Covid-19 acts like other coronaviruses , “ it likely isn ’ t going to be a long duration of immunity , ” Fauci , director of the National Institute of Allergy and Infectious Diseases , said during an interview Tuesday evening with JAMA Editor Howard Bauchner .
“ When you look at the history of coronaviruses , the common coronaviruses that cause the common cold , the reports in the literature are that the durability of immunity that ’ s protective ranges from three to six months @ @ @ @ @ @ @ , ” he said .
“ That ’ s not a lot of durability and protection.
” The National Institutes of Health has been fast-tracking work with biotech firm Moderna on a potential vaccine to prevent Covid-19 , which has infected more than 6.28 million people worldwide and killed at least 375,987 , according to data compiled by Johns Hopkins University .

White House health advisor Dr. Anthony Fauci said he worries about the “durability” of a potential coronavirus vaccine, saying there’s a chance it may not provide long-term immunity.
If Covid-19 acts like other coronaviruses, “it likely isn’t going to be a long duration of immunity,” Fauci, director of the National Institute of Allergy and Infectious Diseases, told JAMA Editor Howard Bauchner.
White House health advisor Dr. Anthony Fauci said he worries about the “durability” of a potential coronavirus vaccine, saying there’s a chance it may not provide long-term immunity.
If Covid-19 acts like other coronaviruses, “it likely isn’t going to be a long duration of immunity,” Fauci, director of the National Institute of Allergy and Infectious Diseases, said during an interview Tuesday evening with JAMA Editor Howard Bauchner.
“When you look at the history of coronaviruses, the common coronaviruses that cause the common cold, the reports in the literature are that the durability of immunity that’s protective ranges from three to six months to almost always less than a year,” he said. “That’s not a lot of durability and protection.”
We are primarily funded by readers. Please subscribe and donate to support us!
The National Institutes of Health has been fast-tracking work with biotech firm Moderna on a potential vaccine to prevent Covid-19, which has infected more than 6.28 million people worldwide and killed at least 375,987, according to data compiled by Johns Hopkins University.
www.cnbc.com/2020/06/02/dr-anthony-fauci-says-theres-a-chance-coronavirus-vaccine-may-not-provide-immunity-for-very-long.html


investmentwatchblog--2020-06-03--Guy Shows off All of His Looted Stuff for The World To See

🤔 Commit a crime and then share for all the world to see ?
👍 Maybe he wants you to @ @ @ @ @ be noticed by the world ?
pic.twitter.com/g212sOtm2Y

🤔 Commit a crime and then share for all the world to see?
Makes no sense to me…
👍 Maybe he wants you to RETWEET THIS so he can be noticed by the world? pic.twitter.com/g212sOtm2Y
— Alchemical Anon (@AlchemicalAnon) June 3, 2020


investmentwatchblog--2020-06-03--WELL, PAYING PEOPLE TO BE UNEMPLOYED CERTAINLY GOT RESULTS: New coronavirus stimulus plan would pay

WELL, PAYING PEOPLE TO BE UNEMPLOYED CERTAINLY GOT RESULTS: New coronavirus stimulus plan would pay you $1,200 to go to work.

• The coronavirus pandemic is still ongoing in the US , the health-related toll from which is continuing to climb even as it continues to exact a terrible cost to the US economy .
• Congress is continuing to debate new proposals that could include the possibility of another round of coronavirus stimulus checks .
• One Republican lawmaker has come up with a new idea that would pay people $ 1,200 to return to work .
Not that anyone needs a reminder , but for all practical purposes there are pretty much just two news stories that matter in @ @ @ @ @ @ @ them is the social unrest taking place around the country related to the protests inspired by George Floyd , excessive use of force by police and the Black Lives Matter movement .
The other , in case you forgot , is the coronavirus pandemic and all of the forces , response , and storylines stemming from it — including the government response to the virus that , to date , has infected more than 1.8 million people in the US and resulted in more than 105,000 reported deaths here .
That ’ s @ @ @ @ @ @ @ Hopkins University .
There continues to be chatter , proposals floated , and a general sense that Congress should do something as it relates to a follow-up coronavirus stimulus package .
A new report from the Congressional Budget Office Monday gave some new urgency to this , predicting that the coronavirus will erase almost $ 8 trillion from the US economy over the next decade .
Accordingly , yet another new stimulus proposal has emerged that would offer people another $ 1,200 — but there ’ s a catch .
Could someone remind @ @ @ @ @ @ @ a “ free sh*t ) contest with the Dems .

The coronavirus pandemic is still ongoing in the US, the health-related toll from which is continuing to climb even as it continues to exact a terrible cost to the US economy.
Congress is continuing to debate new proposals that could include the possibility of another round of coronavirus stimulus checks.
One Republican lawmaker has come up with a new idea that would pay people $1,200 to return to work.
Not that anyone needs a reminder, but for all practical purposes there are pretty much just two news stories that matter in the US right now. One of them is the social unrest taking place around the country related to the protests inspired by George Floyd, excessive use of force by police and the Black Lives Matter movement. The other, in case you forgot, is the coronavirus pandemic and all of the forces, response, and storylines stemming from it — including the government response to the virus that, to date, has infected more than 1.8 million people in the US and resulted in more than 105,000 reported deaths here. That’s according to the latest data from Johns Hopkins University.
There continues to be chatter, proposals floated, and a general sense that Congress should do something as it relates to a follow-up coronavirus stimulus package. A new report from the Congressional Budget Office Monday gave some new urgency to this, predicting that the coronavirus will erase almost $8 trillion from the US economy over the next decade. Accordingly, yet another new stimulus proposal has emerged that would offer people another $1,200 — but there’s a catch.
bgr.com/2020/06/02/coronavirus-stimulus-checks-republican-hiring-bonus-return-to-work-trump-administration/
We are primarily funded by readers. Please subscribe and donate to support us!
Could someone remind the GOP that it will never win a “free sh*t) contest with the Dems.
h/t GR


investmentwatchblog--2020-06-03--With all the democrats buying guns since the pandemic and the riots, is gun control even a thing now

With all the democrats buying guns since the pandemic and the riots, is gun control even a thing now?

Virginia , where patriot forefathers forever booted a tyrannical British king off soil that would become the United States of America , isn ’ t the first state to see a bow wave of support for Second Amendment rights , but it certainly has developed one of the highest profiles .
The commonwealth ’ s new Democratic majority in both the House of Delegates and the Senate , burnished by like-minded leadership in the offices of the governor , lieutenant governor , and attorney general , began steamrolling gun control legislation through during the early days of the 2020 General @ @ @ @ @ @ @ that proposed by Governor Ralph Northam immediately following the May 2019 mass shooting in Virginia Beach .
There , a disgruntled city employee killed 12 people and wounded four others with a handgun at a municipal building where employees were required to be disarmed .
Red to Blue Northam asserted blood priority , calling for a July 9 General Assembly special session to entertain legislation he argued was key to deterring gun violence .
The Republican-controlled assembly met and quickly dismissed the legislation .
Some analysts viewed the special session as a political @ @ @ @ @ @ @ the anti-gun base and get a massive influx of campaign funding for Democratic Party candidates in the November elections .
This money and intense campaigning by Democrats , coupled with Republican lethargy in terms of both running candidates in several uncontested districts and turning out to vote , flipped the House and Senate from red to blue .
As a bevy of bills were pre-filed before the January legislative start , the agenda looked clear : We ’ re coming after your guns .
Gun rights supporters mobilized .
Localities , including counties @ @ @ @ @ @ @ holding hearings and votes related to whether or not they should pass resolutions declaring themselves “ Second Amendment Sanctuaries.
” These resolutions frequently declare that the local governing body opposes , within limits of the Constitutions of the United States and the state where they reside , any efforts to unconstitutionally restrict Second Amendment Rights .
They usually state they will not dedicate any local resources toward enforcing new state laws considered unconstitutional .
Within two months , as maps tracking the Second Amendment Sanctuary march were colored in by locality , it @ @ @ @ @ @ @ and where liberal bastions were dug in .
Ninety-one of the commonwealth ’ s 95 counties , as well as many of the independent cities and towns , were aligned with the Second Amendment camp by January 31 .
Even the City of Virginia Beach , scene of 2019 mass shooting , voted for a Second Amendment-supportive resolution .

Virginia’s Gun Rights Battle Spawned the Second Amendment Sanctuary Movement.
SECOND AMENDMENT SANCTUARIES EMERGE TO COUNTER GUN GRAB LEGISLATION
Virginia, where patriot forefathers forever booted a tyrannical British king off soil that would become the United States of America, isn’t the first state to see a bow wave of support for Second Amendment rights, but it certainly has developed one of the highest profiles. The commonwealth’s new Democratic majority in both the House of Delegates and the Senate, burnished by like-minded leadership in the offices of the governor, lieutenant governor, and attorney general, began steamrolling gun control legislation through during the early days of the 2020 General Assembly session.
The legislation largely mirrored that proposed by Governor Ralph Northam immediately following the May 2019 mass shooting in Virginia Beach. There, a disgruntled city employee killed 12 people and wounded four others with a handgun at a municipal building where employees were required to be disarmed.
Red to Blue
Northam asserted blood priority, calling for a July 9 General Assembly special session to entertain legislation he argued was key to deterring gun violence. The Republican-controlled assembly met and quickly dismissed the legislation.
Some analysts viewed the special session as a political setup, forcing fodder votes to energize the anti-gun base and get a massive influx of campaign funding for Democratic Party candidates in the November elections. This money and intense campaigning by Democrats, coupled with Republican lethargy in terms of both running candidates in several uncontested districts and turning out to vote, flipped the House and Senate from red to blue.
As a bevy of bills were pre-filed before the January legislative start, the agenda looked clear: We’re coming after your guns.
Gun rights supporters mobilized. Localities, including counties and independent cities and towns, began holding hearings and votes related to whether or not they should pass resolutions declaring themselves “Second Amendment Sanctuaries.” These resolutions frequently declare that the local governing body opposes, within limits of the Constitutions of the United States and the state where they reside, any efforts to unconstitutionally restrict Second Amendment Rights. They usually state they will not dedicate any local resources toward enforcing new state laws considered unconstitutional.
Within two months, as maps tracking the Second Amendment Sanctuary march were colored in by locality, it was apparent where conservative values held sway and where liberal bastions were dug in. Ninety-one of the commonwealth’s 95 counties, as well as many of the independent cities and towns, were aligned with the Second Amendment camp by January 31. Even the City of Virginia Beach, scene of 2019 mass shooting, voted for a Second Amendment-supportive resolution.


investmentwatchblog--2020-06-03--AMC has ‘substantial doubt’ it can survive…  QUIBI Asks Execs to Take Pay Cut…  AMERICAN AIRLINES cr

AMC has ‘substantial doubt’ it can survive…  QUIBI Asks Execs to Take Pay Cut…  AMERICAN AIRLINES credit downgraded

AMC has ‘ substantial doubt ’ it can survive… • AMC has “ substantial doubt ” it can remain in business after shuttering all of its locations during the coronavirus pandemic .
• The company revealed that its revenue had fallen to $ 941.5 million in the first quarter , a nearly 22 % drop from the $ 1.2 billion it garnered in the same quarter last year .
The second quarter is expected to be even worse .
• AMC worries that distributors will continue to push back new film releases , hurting operations .
Quibi has asked senior @ @ @ @ @ @ @ cut as the short-form streaming video service explores ways to rein in costs after a disappointing debut , according to people familiar with the matter .
Quibi Chief Executive Meg Whitman is taking a 10 % cut to her pay , the people said .
Quibi , which launched its streaming app on April 6 , also has discussed laying off about 10 % of its more than 250 employees , one of the people said .
A top Quibi executive said there are currently no plans to follow through on substantial cuts @ @ @ @ @ @ @ would impact people mostly at the lower and middle rungs of the company , one of the people said .
The company has already cut some low-level employees in recent weeks , some of the people said .
“ Quibi is in a good financial position , ” a spokeswoman said .
“ We are not laying off staff as a part of cost saving measures .
We just added a dozen new employees.
” Shares of American Airlines Group Inc. AAL , +5.61 % rallied 6.2 % in afternoon trading , even @ @ @ @ @ @ @ rating was cut to a peer-group low of B- from B at S & P Global Ratings .
The credit rating agency said the outlook on the rating , which is now six notches deep into speculative grade , or “ junk ” territory , remains negative .
S & P said it ’ s also maintaining its assessment of liquidity at “ less than adequate , ” given the expectation of a “ substantially negative level of cash generation ” over the next 12 months .
“ We expect American to generate @ @ @ @ @ @ @ due to the impact of the coronavirus , but to return to positive cash flow generation in 2021 , ” S & P said .
“ While the company is reducing capacity and some associated costs , and benefits from the steep decline in oil prices , we expect these to continue to be more than offset by much weaker traffic.
” Meanwhile , S & P rates the credit of United Airlines Holdings Inc. UAL , +12.50 % at BB- , Delta Air Lines Inc. DAL , +7.76 % at BB , @ @ @ @ @ @ @ at an investment grade level of BBB and JetBlue Airways Corp. JBLU , +9.31 % at BB- .
Another downgrade of American ’ s rating would put it in the CCC level , which S & P says reflects debt that is “ currently vulnerable to nonpayment .
”

AMC has ‘substantial doubt’ it can survive…
AMC has “substantial doubt” it can remain in business after shuttering all of its locations during the coronavirus pandemic.
The company revealed that its revenue had fallen to $941.5 million in the first quarter, a nearly 22% drop from the $1.2 billion it garnered in the same quarter last year. The second quarter is expected to be even worse.
AMC worries that distributors will continue to push back new film releases, hurting operations.
QUIBI Asks Execs to Take Pay Cut…
Quibi has asked senior executives to take a 10% salary cut as the short-form streaming video service explores ways to rein in costs after a disappointing debut, according to people familiar with the matter.
Quibi Chief Executive Meg Whitman is taking a 10% cut to her pay, the people said.
Quibi, which launched its streaming app on April 6, also has discussed laying off about 10% of its more than 250 employees, one of the people said. A top Quibi executive said there are currently no plans to follow through on substantial cuts. We are primarily funded by readers. Please subscribe and donate to support us! The discussions centered on layoffs that would impact people mostly at the lower and middle rungs of the company, one of the people said. The company has already cut some low-level employees in recent weeks, some of the people said. “Quibi is in a good financial position,” a spokeswoman said. “We are not laying off staff as a part of cost saving measures. We just added a dozen new employees.”
AMERICAN AIRLINES credit downgraded
Shares of American Airlines Group Inc. AAL, +5.61% rallied 6.2% in afternoon trading, even as the air carrier’s credit rating was cut to a peer-group low of B- from B at S&P Global Ratings. The credit rating agency said the outlook on the rating, which is now six notches deep into speculative grade, or “junk” territory, remains negative. S&P said it’s also maintaining its assessment of liquidity at “less than adequate,” given the expectation of a “substantially negative level of cash generation” over the next 12 months. “We expect American to generate a substantial cash flow deficit in 2020 due to the impact of the coronavirus, but to return to positive cash flow generation in 2021,” S&P said. “While the company is reducing capacity and some associated costs, and benefits from the steep decline in oil prices, we expect these to continue to be more than offset by much weaker traffic.” Meanwhile, S&P rates the credit of United Airlines Holdings Inc. UAL, +12.50% at BB-, Delta Air Lines Inc. DAL, +7.76% at BB, Southwest Airlines Co. LUV, +5.56% at an investment grade level of BBB and JetBlue Airways Corp. JBLU, +9.31% at BB-. Another downgrade of American’s rating would put it in the CCC level, which S&P says reflects debt that is “currently vulnerable to nonpayment.”


investmentwatchblog--2020-06-03--REDDIT Slammed By Former CEO For ‘Amplifying’ Racism, Hate…  SNAP to Stop Promoting Trump’s Content…

REDDIT Slammed By Former CEO For ‘Amplifying’ Racism, Hate…  SNAP to Stop Promoting Trump’s Content…  TWITTER Will Only Censor Tweets with ‘Highest Potential Harm’

REDDIT Slammed By Former CEO For ‘ Amplifying ’ Racism , Hate… Former Reddit CEO Ellen Pao harshly criticized the tech company on Tuesday after it published an open letter condemning racism , with Pao saying the social network knowingly makes money off hate .
“ You don ’ t get to say BLM when reddit nurtures and monetizes white supremacy and hate all day long , ” Pao tweeted , referring to the Black Lives Matter movement .
Current Reddit CEO Steve Huffman , known as u/spez on the platform , had sent the open letter to his staff @ @ @ @ @ @ @ Twitter .
“ We do not tolerate hate , racism , and violence , and while we have work to do to fight these on our platform , our values are clear , ” he wrote .
Pao , who served as the company ’ s interim CEO from late 2014 to mid-2015 , retweeted a link to the letter along with her response , saying she felt a responsibility to take Reddit to task .
Snapchat said Wednesday it would no longer promote President Donald Trump ’ s content in its Discover @ @ @ @ @ @ @ messaging company closer to Twitter ’ s approach in the ongoing debate over political speech .
The company said in a statement that it would not “ amplify voices who incite racial violence.
” Snapchat ’ s Discover section typically features content from news organizations , brands , celebrities and sometimes politicians .
The president ’ s account remains visible on the platform , and anyone can follow the account for updates .
Snapchat ’ s change will remove Trump from the Discover section .
TWITTER Will Only Censor Tweets with ‘ Highest @ @ @ @ @ @ @ recently claimed that it ’ s not attempting to take down all misinformation on the platform , only that with “ the highest potential for harm.
” Breitbart News has documented numerous examples of misinformation that did not receive a “ fact check ” by Twitter , as well as for threats of violence that remained on the platform for extended periods .
Business Insider reports that social media giant Twitter has clarified its new policies on misinformation in a series of tweets , noting that the firm isn ’ t focused on @ @ @ @ @ @ @ instead focusing on posts with the “ highest potential for harm .
”

REDDIT Slammed By Former CEO For ‘Amplifying’ Racism, Hate…
Former Reddit CEO Ellen Pao harshly criticized the tech company on Tuesday after it published an open letter condemning racism, with Pao saying the social network knowingly makes money off hate. “You don’t get to say BLM when reddit nurtures and monetizes white supremacy and hate all day long,” Pao tweeted, referring to the Black Lives Matter movement.
Current Reddit CEO Steve Huffman, known as u/spez on the platform, had sent the open letter to his staff on Monday and also published it on Twitter. “We do not tolerate hate, racism, and violence, and while we have work to do to fight these on our platform, our values are clear,” he wrote.
Pao, who served as the company’s interim CEO from late 2014 to mid-2015, retweeted a link to the letter along with her response, saying she felt a responsibility to take Reddit to task.
twitter.com/ekp/status/1267689503797342208
SNAP to stop promoting Trump’s content…
Snapchat said Wednesday it would no longer promote President Donald Trump’s content in its Discover section, a move that brings the messaging company closer to Twitter’s approach in the ongoing debate over political speech.
We are primarily funded by readers. Please subscribe and donate to support us!
The company said in a statement that it would not “amplify voices who incite racial violence.”
Snapchat’s Discover section typically features content from news organizations, brands, celebrities and sometimes politicians. The president’s account remains visible on the platform, and anyone can follow the account for updates.
Snapchat’s change will remove Trump from the Discover section.
TWITTER Will Only Censor Tweets with ‘Highest Potential Harm’
Social media giant Twitter recently claimed that it’s not attempting to take down all misinformation on the platform, only that with “the highest potential for harm.” Breitbart News has documented numerous examples of misinformation that did not receive a “fact check” by Twitter, as well as for threats of violence that remained on the platform for extended periods.
Business Insider reports that social media giant Twitter has clarified its new policies on misinformation in a series of tweets, noting that the firm isn’t focused on flagging all misinformation on the platform but instead focusing on posts with the “highest potential for harm.”
We are NOT attempting to address all misinformation. Instead, we prioritize based on the highest potential for harm, focusing on manipulated media, civic integrity, and COVID-19. Likelihood, severity and type of potential harm — along with reach and scale — factor into this. — Twitter Safety (@TwitterSafety) June 3, 2020


investmentwatchblog--2020-06-03--RUSH: The stock market is up because the market just realized that the riots have pretty much assure

RUSH: The stock market is up because the market just realized that the riots have pretty much assured Trump’s reelection, and that’s what the markets want.

RUSH : Here is Gerard in Atlanta as we head back to the phones .
Great to have you , Gerard .
Hello .
CALLER : Thanks , Rush .
Thank you for everything you do .
A quick follow-up question regarding you talking about California and New York , and what I can imagine gon na be a large exodus of both people and businesses .
How much less are both New York and California now going to be needed for a strong economic recovery , do you think ?
RUSH : You know , I just… ( chuckling @ @ @ @ @ @ @ this .
I was of the belief that they were gon na be needed .
But I ’ ve got some people who have written me saying , “ We ’ re not gon na need ’ em .
They ’ re already dead and defunct .
I mean , who wants to live in a place that ’ s got barbed wire protecting Saks Fifth Avenue ?
Who ’ s gon na pay exorbitant rents when you don ’ t have to anymore ?
“ You don ’ t have to live @ @ @ @ @ @ @ York , as telecommuting has shown.
” I ’ m still not convinced .
I think New York and California are… They ’ re a large part of the U.S. economy .
The thing is , I don ’ t know how they rebound .
The governor of New York is obviously not even interested in it .
The mayor of New York City is obviously not interested in an economic rebound .
Their objectives — their political objectives — do not require New York to reopen .
This is why I keep @ @ @ @ @ @ @ vote for , and if you want to get an idea of where this country is headed if Donald Trump ’ s not president after election night this coming November , take a look at New York .
This is where we are headed .
Everything we believe in is gon na be in flames , folks , not just New York and not just California and not just parts of Minnesota .
Everything you and I believe in is gon na be in flames if the Democrats win .
That ’ s @ @ @ @ @ @ @ me give you another perspective on this .
Have you seen the stock market ?
Let me check .
NASDAQ ’ s up 74 , so that means the Dow Jones is gon na be up too .
Let me see if I can get the number real quick here .
Last time it was plus 260 , plus 490 .
Now it ’ s almost up 500 .
How in hell can that be ?
Can somebody explain that to me ?
With New York shut down , with New York being @ @ @ @ @ @ @ With California — the wealthy enclave areas of California : Santa Monica , Brentwood , parts of Beverly Hills , Rodeo Drive — being burned down , being looted , how in the hell can the market be up 500 ?
Well , I ’ ll tell you one of the reasons : They have to be shrugging this stuff off .
The markets are obviously not paying attention to the media .
If the markets were paying attention to the media they ’ d be getting out of everything .
They ’ @ @ @ @ @ @ @ ’ d be selling short .
They ’ d be selling positions .
But they ’ re not doing that .
The investors are still investing .
Let me get the number again .
Got up 500 .
We ’ re over 26,000 , 26,235 .
Market up 493 .
And it ’ s bouncing back and forth .
So we ’ ve passed the 26,000 mark .
Somebody explain this to me .
You don ’ t have to explain it to me .
I can explain it to me .
I @ @ @ @ @ @ @ market is who ?
The market ’ s you and me .
The market ’ s investors .
There are institutional investors ; there computer-driven investors .
Whatever .
They ’ re able to shrug off all this BS .
It ’ s like they ’ re taking my advice to the caller , Anna , earlier and not even paying attention to the media .
Look .
They shrugged off the China flu too .
After a while the market started rebounding when the bottom did not fall out after the China @ @ @ @ @ @ @ , not far from Wall Street , in fact .
We have massive looting and riots , which are being presented as peaceful protests .
Yes , you know that , right ?
There ’ s peaceful protests .
In fact , it ’ s a minority of people .
There ’ s really no violence or rioting going on .
There ’ s stories to that extent out there .
The Drive-By Media is actually trying to say it ’ s all peaceful and that the only militant protests are being conducted @ @ @ @ @ @ @ cock and bull the media is reporting , it ’ s obvious that Wall Street or the markets are ignoring it .
And I think it ’ s only because the economy was so damn solid .
The economy had a cushion built in because of Trump ’ s rapid growth .
Look at the rebound .
In the midst of all of this , we ’ re down to 22 — we ’ re now back up to 26 and climbing only because the economy was so damn solid and only because @ @ @ @ @ @ @ this country , is this possible .
Some of you may resent Wall Street .
Some of you may resent the market .
Some of you may think it ’ s not you , that you ’ re not there , that even if you do have a 401 ( k ) , that you ’ re still not like them , that they ’ re different and they ’ re distant and so forth .
Maybe so .
But the one thing you can take from this , these markets wouldn ’ @ @ @ @ @ @ @ they were mired in a bunch of fatalistic pessimism .
And that you can say you have in common with them if you want .
It ’ s amazing , in a way .
I mean , people who invest are very skittish all the time .
Do you know people that do nothing but invest , that ’ s their living ?
They just play the market every day ?
I know some people like that .
And they can be very , very skittish .
They can be very , very @ @ @ @ @ @ @ all of this , all of this garbage from the left , and they just move on .
They ’ re just ignoring it .
The markets are not paying any attention to this .
The markets are not allowing themselves to be negatively affected by any of this .
And there is a lesson in that .
RUSH : I think also , folks , the stock market is up because the market just realized that the riots have pretty much assured Trump ’ s reelection , and that ’ s what @ @ @ @ @ @ @ ) you , protesters !

via rushlimbaugh
RUSH: Here is Gerard in Atlanta as we head back to the phones. Great to have you, Gerard. Hello.
CALLER: Thanks, Rush. Thank you for everything you do. A quick follow-up question regarding you talking about California and New York, and what I can imagine gonna be a large exodus of both people and businesses. How much less are both New York and California now going to be needed for a strong economic recovery, do you think?
RUSH: You know, I just… (chuckling) Here’s the thing about this. I was of the belief that they were gonna be needed. But I’ve got some people who have written me saying, “We’re not gonna need ’em. They’re already dead and defunct. I mean, who wants to live in a place that’s got barbed wire protecting Saks Fifth Avenue? Who’s gonna pay exorbitant rents when you don’t have to anymore?
“You don’t have to live in New York to work in New York, as telecommuting has shown.” I’m still not convinced. I think New York and California are… They’re a large part of the U.S. economy. The thing is, I don’t know how they rebound. The governor of New York is obviously not even interested in it.
The mayor of New York City is obviously not interested in an economic rebound. Their objectives — their political objectives — do not require New York to reopen. This is why I keep saying today that it matters who you vote for, and if you want to get an idea of where this country is headed if Donald Trump’s not president after election night this coming November, take a look at New York.
This is where we are headed. Everything we believe in is gonna be in flames, folks, not just New York and not just California and not just parts of Minnesota. Everything you and I believe in is gonna be in flames if the Democrats win. That’s the objective. In fact, let me give you another perspective on this. Have you seen the stock market? Let me check.
NASDAQ’s up 74, so that means the Dow Jones is gonna be up too. Let me see if I can get the number real quick here. Last time it was plus 260, plus 490. Now it’s almost up 500. How in hell can that be? Can somebody explain that to me? With New York shut down, with New York being looted, with Minnesota being looted…?
With California — the wealthy enclave areas of California: Santa Monica, Brentwood, parts of Beverly Hills, Rodeo Drive — being burned down, being looted, how in the hell can the market be up 500? Well, I’ll tell you one of the reasons: They have to be shrugging this stuff off. The markets are obviously not paying attention to the media.
We are primarily funded by readers. Please subscribe and donate to support us!
If the markets were paying attention to the media they’d be getting out of everything. They’d be scared to death. They’d be selling short. They’d be selling positions. But they’re not doing that. The investors are still investing. Let me get the number again. Got up 500. We’re over 26,000, 26,235. Market up 493. And it’s bouncing back and forth. So we’ve passed the 26,000 mark. Somebody explain this to me. You don’t have to explain it to me. I can explain it to me. I can explain it to you.
The market is who? The market’s you and me. The market’s investors. There are institutional investors; there computer-driven investors. Whatever. They’re able to shrug off all this BS. It’s like they’re taking my advice to the caller, Anna, earlier and not even paying attention to the media. Look. They shrugged off the China flu too. After a while the market started rebounding when the bottom did not fall out after the China flu.
Now we have massive looting, not far from Wall Street, in fact. We have massive looting and riots, which are being presented as peaceful protests. Yes, you know that, right? There’s peaceful protests. In fact, it’s a minority of people. There’s really no violence or rioting going on. There’s stories to that extent out there. The Drive-By Media is actually trying to say it’s all peaceful and that the only militant protests are being conducted by white supremacists. Well, whatever cock and bull the media is reporting, it’s obvious that Wall Street or the markets are ignoring it.
And I think it’s only because the economy was so damn solid. The economy had a cushion built in because of Trump’s rapid growth. Look at the rebound. In the midst of all of this, we’re down to 22 — we’re now back up to 26 and climbing only because the economy was so damn solid and only because the markets continue to be optimistic about this country, is this possible.
Some of you may resent Wall Street. Some of you may resent the market. Some of you may think it’s not you, that you’re not there, that even if you do have a 401(k), that you’re still not like them, that they’re different and they’re distant and so forth. Maybe so. But the one thing you can take from this, these markets wouldn’t be moving up like this if they were mired in a bunch of fatalistic pessimism. And that you can say you have in common with them if you want. It’s amazing, in a way. I mean, people who invest are very skittish all the time.
Do you know people that do nothing but invest, that’s their living? They just play the market every day? I know some people like that. And they can be very, very skittish. They can be very, very nervous. And they can look at all of this, all of this garbage from the left, and they just move on. They’re just ignoring it. The markets are not paying any attention to this. The markets are not allowing themselves to be negatively affected by any of this. And there is a lesson in that.
BREAK TRANSCRIPT
RUSH: I think also, folks, the stock market is up because the market just realized that the riots have pretty much assured Trump’s reelection, and that’s what the markets want. So (raspberry) you, protesters!


investmentwatchblog--2020-06-03--Covid-19 & the Insanity of World Leaders

More and more doctors are coming out against this COVID-19 scam .
Trump needs to convene a public hearing and let the other side be heard .
Put it on national TV to expose the corruption in journalism .
Now we have the very firm who claimed that the drugs recommended by Trump did not work .
They have minimal staff which includes a Sci Fi writer and an adult porn star ?
This is causing a real outrage because Lancet even published this study with no verification .
In Britain , Prime Minister Boris Johnson has lost my support @ @ @ @ @ @ @ with Bill and Melinda Gates to vaccinate Britain .
He even discussed vaccine development and other coronavirus-related work on a private call with Bill Gates who has no expertise in the field and in a court of law would never qualify to be an expert witness .
Boris Johnson has become a threat to Britain .
He is hosting Global Summit to force Bill Gates ’ vaccine upon the entire world .
I really have to question if Johnson has been bought by Gates , especially when it was the Imperial College in @ @ @ @ @ @ @ entire world should be locked down which just so coincidentally furthers this Green New Deal .
I have NEVER been so disappointed by a head of state as Boris Johnson .

by Martin Armstrong
More and more doctors are coming out against this COVID-19 scam. Trump needs to convene a public hearing and let the other side be heard. Put it on national TV to expose the corruption in journalism. Now we have the very firm who claimed that the drugs recommended by Trump did not work. They have minimal staff which includes a Sci Fi writer and an adult porn star? This is causing a real outrage because Lancet even published this study with no verification.
We are primarily funded by readers. Please subscribe and donate to support us!
In Britain, Prime Minister Boris Johnson has lost my support entirely for he is on board with with Bill and Melinda Gates to vaccinate Britain. He even discussed vaccine development and other coronavirus-related work on a private call with Bill Gates who has no expertise in the field and in a court of law would never qualify to be an expert witness. Boris Johnson has become a threat to Britain. He is hosting Global Summit to force Bill Gates’ vaccine upon the entire world. I really have to question if Johnson has been bought by Gates, especially when it was the Imperial College in Britain funded by Gates which advocated the entire world should be locked down which just so coincidentally furthers this Green New Deal. I have NEVER been so disappointed by a head of state as Boris Johnson.


investmentwatchblog--2020-06-03--5 Ways to Save Money on a New Car

5 Ways to Save Money on a New Car

Everybody has their own preferences when it comes to buying a new car .
Some people want to buy the latest and greatest model , while others are just looking for a means of transportation .
Those who don ’ t want the newest model typically want to save money as well .
Older models and used cars typically run just as well , and no matter the level of luxury it is , it ’ ll still get you from one place to another .
There are plenty of ways to save money when buying a new car — @ @ @ @ @ @ @ strategic .
As you get ready to purchase your new car , don ’ t forget to protect it with an auto insurance plan .
In the event of an accident , you ’ ll want to have the peace of mind that you ’ re covered and won ’ t have to pay for repairs full price .
Get auto insurance quotes online to find the cheapest options on auto insurance .
To learn more about saving money on a new car , keep reading .
This one is pretty simple .
@ @ @ @ @ @ @ buy a used car .
Depending on your budget , you can either save money by getting a model that is only a few years old or save even more by buying a used car that is much older .
When you decide to purchase a used car , however , make sure you get a full workup of any past accidents , mileage , and replacements .
You want to know exactly what state your used car is in before you purchase it .
If you have the opportunity and financial stability @ @ @ @ @ @ @ do it .
Paying full price for a car alleviates you from any loan and interest burdens over time .
This strategy can be used for a brand new car or used cars .
Being a strong negotiator is not only a valuable skill for purchasing cars , but it can also help in a variety of other situations .
When it comes to cars , however , negotiation skills can help you with interest rates , additions to the car , and more .
• Take your trade-in into multiple places If @ @ @ @ @ @ @ in to get a discount on a new car , don ’ t just take it to the place you bought it from .
Some car dealerships may be able to give you a better price for the car you are trading in .
So before you stick to one place , consider your options and go with the best value .
Some people may not want a used car , but still can ’ t afford the latest car models .
Purchasing a model that is just one or even a few @ @ @ @ @ @ @ of money .
Many models that are only a few years old still have newer features and good safety features , so they may be worth looking into .
Nobody is going to have the same buying experience .
With that being said though , everyone should be prepared before they walk into a dealership or message a seller .
By researching the car , using negotiation tactics , and knowing exactly what you want and what your budget is , you should be able to get a good deal .
Good luck @ @ @ @ @ @ @ content does not necessarily represent the views of IWB .

Everybody has their own preferences when it comes to buying a new car. Some people want to buy the latest and greatest model, while others are just looking for a means of transportation. Those who don’t want the newest model typically want to save money as well. Older models and used cars typically run just as well, and no matter the level of luxury it is, it’ll still get you from one place to another. There are plenty of ways to save money when buying a new car — you just have to be dedicated and strategic.
As you get ready to purchase your new car, don’t forget to protect it with an auto insurance plan. In the event of an accident, you’ll want to have the peace of mind that you’re covered and won’t have to pay for repairs full price. Get auto insurance quotes online to find the cheapest options on auto insurance.
To learn more about saving money on a new car, keep reading.
Buy used
This one is pretty simple. Instead of buying a new car, buy a used car. Depending on your budget, you can either save money by getting a model that is only a few years old or save even more by buying a used car that is much older.
When you decide to purchase a used car, however, make sure you get a full workup of any past accidents, mileage, and replacements. You want to know exactly what state your used car is in before you purchase it.
Pay in full
If you have the opportunity and financial stability to purchase a car with cash, do it. Paying full price for a car alleviates you from any loan and interest burdens over time. This strategy can be used for a brand new car or used cars.
We are primarily funded by readers. Please subscribe and donate to support us!
Be a strong negotiator
Being a strong negotiator is not only a valuable skill for purchasing cars, but it can also help in a variety of other situations. When it comes to cars, however, negotiation skills can help you with interest rates, additions to the car, and more.
Take your trade-in into multiple places
If you’re trading your current car in to get a discount on a new car, don’t just take it to the place you bought it from. Some car dealerships may be able to give you a better price for the car you are trading in. So before you stick to one place, consider your options and go with the best value.
Get an older model
Some people may not want a used car, but still can’t afford the latest car models. Purchasing a model that is just one or even a few years old can save you a lot of money. Many models that are only a few years old still have newer features and good safety features, so they may be worth looking into.
Nobody is going to have the same buying experience. With that being said though, everyone should be prepared before they walk into a dealership or message a seller. By researching the car, using negotiation tactics, and knowing exactly what you want and what your budget is, you should be able to get a good deal. Good luck in your search!
Disclaimer: This content does not necessarily represent the views of IWB.


investmentwatchblog--2020-06-03--A glimpse inside a dastardly sausage making machine. Predicate: Russians Spying on elections, common

A glimpse inside a dastardly sausage making machine. Predicate: Russians Spying on elections, common knowledge. We do it too, also common knowledge.

Rosenstein is absolutely imploding in this hearing .
The most interesting take away is he ’ s not even trying @ @ @ @ @ “ dog ate my homework ”

Rosenstein is absolutely imploding in this hearing. The most interesting take away is he’s not even trying to defend himself other than “dog ate my homework”
— Undercover Huber (@JohnWHuber) June 3, 2020


investmentwatchblog--2020-06-03--Black lives matter is a joke. says black woman

She is right , the whole thing is bogus

She is right, the whole thing is bogus
We are primarily funded by readers. Please subscribe and donate to support us!
AC


investmentwatchblog--2020-06-03--Pro-BLM St. Louis Circuit Attorney Kim Gardner refused charges against looters and rioters. Christia

Pro-BLM St. Louis Circuit Attorney Kim Gardner refused charges against looters and rioters. Christian Toto: Stars bail out protesters, silent on helping victims.

CHRISTIAN TOTO : Stars Bail Out Protesters , Silent on Helping Victims .
“ Steve Carell , Seth Rogen and more mum on helping minority-owned businesses.
” Celebrities couldn ’ t wait to bail out protesters who helped turn the Twin Cities into a war zone .
The May 25 death of Minnesota resident George Floyd set off a wave of protests which quickly turned violent across the country .
Just as quickly Hollywood stars praised the protests , some even cheering the violence that came with them .
Other stars took it one step further .
They opened their @ @ @ @ @ @ @ Fund .
The nonprofit helps pay bail for low-income citizens .
Among the stars who publicly announced they sent money to the Fund : Hollywood in Toto reached out to these eight stars via their managers and press representatives .
The site sent the following two questions to each , hoping for at least a prepared statement , if not a brief interview , on the subject .
• Is Mr./Ms .
[ Fill-In-The-Blank ] concerned that some of his/her donation could help protesters who committed violence/helped destroy part of the greater Minneapolis @ @ @ @ @ @ @ Fill-In-The-Blank ] be donating any money to either personal GoFundMe pages or groups attempting to rebuild the minority-owned businesses destroyed by the protests ?
The representatives had more than 24 hours to respond to the requests .
The majority failed to do so .
WAR IS PEACE , FREEDOM IS SLAVERY : ‘ Destroying Property Isn ’ t Violence , ’ Says Pulitzer Prize-Winning New York Times Writer .
THIS IS CNN : Antifa Supporter Chris Cuomo All but Lights Matches for NYC Rioters in Despicable On-Air Rant .
“ Now , too @ @ @ @ @ @ @ .
No , the problem is what forced your fellow citizens to take to the streets , persistent , and poisonous , inequities and injustice .
And please , show me where it says that protesters are supposed to be polite and peaceful.
” Related : “ Well , besides the fact that there are laws against being violent , it ’ s right in the First Amendment : ” “ Congress shall make no law respecting an establishment of religion , or prohibiting the free exercise thereof ; or abridging the freedom @ @ @ @ @ @ @ ; or the right of the people peaceably to assemble , and to petition the Government for a redress of grievances .
”

via stltoday: ST. LOUIS — The more than 30 people arrested during two nights of protests in St. Louis have been released from jail, a police spokeswoman said Wednesday.
The release of the 36 drew a rebuke from Missouri Attorney General Eric Schmitt, who criticized city prosecutors.
Two were released after being issued a summons, eight were released after prosecutors refused to immediately file charges and the remainder were released while police apply for charges, the spokeswoman, Michelle Woodling, said in an email.
Circuit Attorney Kimberly M. Gardner’s spokeswoman, Allison Hawk, said in an email that police only sought charges in “a few” cases of stealing during looting, and prosecutors refused charges because they wanted more investigation. “In an effort to hold the offenders accountable, we need essential evidence from the police. These matters remain under investigation,” she wrote.
Schmitt, a Republican, took to Twitter on Wednesday to lash out at Gardner, a Democrat, blaming her for the release.
CHRISTIAN TOTO: Stars Bail Out Protesters, Silent on Helping Victims. “Steve Carell, Seth Rogen and more mum on helping minority-owned businesses.”
Celebrities couldn’t wait to bail out protesters who helped turn the Twin Cities into a war zone.
The May 25 death of Minnesota resident George Floyd set off a wave of protests which quickly turned violent across the country. Just as quickly Hollywood stars praised the protests, some even cheering the violence that came with them.
Other stars took it one step further.
We are primarily funded by readers. Please subscribe and donate to support us!
They opened their wallets and purses for the Minnesota Freedom Fund. The nonprofit helps pay bail for low-income citizens. Among the stars who publicly announced they sent money to the Fund:
Steve Carell , “Space Force,” “The Office”
, “Space Force,” “The Office” Seth Rogen , “Knocked Up,” “The Interview”
, “Knocked Up,” “The Interview” Jameela Jamil , “The Good Place”
, “The Good Place” Ben Schwartz , “Standing Up, Falling Down,” “Space Force”
, “Standing Up, Falling Down,” “Space Force” Patton Oswalt , “Ratatouille,” “The Goldbergs”
, “Ratatouille,” “The Goldbergs” Janelle Monae , Amazon’s “Homecoming” Season Two
, Amazon’s “Homecoming” Season Two Rob Delaney , “Catastrophe,” “Deadpool 2”
, “Catastrophe,” “Deadpool 2” Don Cheadle, “Avengers: Infinity War,” “Black Monday”
Hollywood in Toto reached out to these eight stars via their managers and press representatives. The site sent the following two questions to each, hoping for at least a prepared statement, if not a brief interview, on the subject.
Is Mr./Ms. [Fill-In-The-Blank] concerned that some of his/her donation could help protesters who committed violence/helped destroy part of the greater Minneapolis community?
Will Mr./Ms. [Fill-In-The-Blank] be donating any money to either personal GoFundMe pages or groups attempting to rebuild the minority-owned businesses destroyed by the protests?
The representatives had more than 24 hours to respond to the requests. The majority failed to do so.
WAR IS PEACE, FREEDOM IS SLAVERY: ‘Destroying Property Isn’t Violence,’ Says Pulitzer Prize-Winning New York Times Writer.
THIS IS CNN: Antifa Supporter Chris Cuomo All but Lights Matches for NYC Rioters in Despicable On-Air Rant. “Now, too many see the protests as the problem. No, the problem is what forced your fellow citizens to take to the streets, persistent, and poisonous, inequities and injustice. And please, show me where it says that protesters are supposed to be polite and peaceful.”
Related: “Well, besides the fact that there are laws against being violent, it’s right in the First Amendment:” “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.”
Flashback:
VIDEO: “Protesters VS Philadelphia (George Floyd Riots, Thug Life Edition)”
h/t ED


investmentwatchblog--2020-06-03--Why The Stock Market Could Be Poised For Another Plunge

The following is an excerpt from a recent Tactical ETF Portfolio update featured on The Felder Report Premium .
Stocks rallied another 4.5 % in May , taking their total gain from the March lows to 39 % .
When we put this result into the context of an estimated 52.8 % annualized decline in GDP during the current quarter ( via the Atlanta Fed ) , equity valuations have just risen to new record highs .
The new reading in the Buffett Yardstick yields a 10-year forecast for equities of -6 % per year , including dividends ( based @ @ @ @ @ @ @ the two ) .
As you probably noticed from the chart above , however , returns over the past decade have exceeded this measure ’ s forecast by several percent per year so it ’ s certainly possible for the market to avoid such a nasty fate .
The difference between forecast and actual returns can be explained by sentiment ( hat tip , Mark Louis via John Hussman ) .
When investors ( and consumers ) are overly confident , stocks outperform their fundamentals and vice versa .
Now that sentiment has @ @ @ @ @ @ @ would seem reasonable to expect the excess returns of the past decade to be given back and possibly in short order .
This would mean the S & P 500 Index would have to fall approximately to the 1,750 area , more than 40 % below its current price .

by jessefelder
The following is an excerpt from a recent Tactical ETF Portfolio update featured on The Felder Report Premium.
Stocks rallied another 4.5% in May, taking their total gain from the March lows to 39%. When we put this result into the context of an estimated 52.8% annualized decline in GDP during the current quarter (via the Atlanta Fed), equity valuations have just risen to new record highs.
We are primarily funded by readers. Please subscribe and donate to support us!
The new reading in the Buffett Yardstick yields a 10-year forecast for equities of -6% per year, including dividends (based on the 80% negative correlation between the two).
As you probably noticed from the chart above, however, returns over the past decade have exceeded this measure’s forecast by several percent per year so it’s certainly possible for the market to avoid such a nasty fate. The difference between forecast and actual returns can be explained by sentiment (hat tip, Mark Louis via John Hussman). When investors (and consumers) are overly confident, stocks outperform their fundamentals and vice versa.
Now that sentiment has already begun to rapidly deteriorate, it would seem reasonable to expect the excess returns of the past decade to be given back and possibly in short order. This would mean the S&P 500 Index would have to fall approximately to the 1,750 area, more than 40% below its current price.


investmentwatchblog--2020-06-03--Breaking Bad – Valuations Are Screaming “Danger”

Well , they ’ ve done it again .
The Fed has once again managed to erase the larger market pain .
This time it was not the standard correction that was erased , this time they erased a market crash as $ NDX is trading at all time human history highs .
I , for one , have to say I am surprised how effective central banks have been in squeezing markets higher again .
I thought after 10 years of this monetary nonsense they would finally lose effectiveness in their ability to manipulate markets .
Clearly I was @ @ @ @ @ @ @ ’ t see $ 3 trillion in Fed balance sheet expansion coming in a matter of a few months .
So one has to clearly acknowledge central banks continue to hold complete control over these markets .
But it comes at a price that will remain ignored for now , but nevertheless I ’ m aiming to highlight some of the issues I see .
In my view central banks , in their quest to conduct a successful rescue operation , are killing the patient in the process .
And nobody holds them @ @ @ @ @ @ @ like myself are trying to at least raise the issues .
( See also Stock Market Straight Talk ) And it ’ s not over of course .
The ECB will announce more stimulus and there are more fiscal stimulus efforts coming as well and in process they are literally manufacturing the largest market bubble ever .
Bottomline : The distortions have become more extreme than expected .
And these distortions can be seen and measured in a number of ways .
First off the most obvious but also most ignored : Valuations @ @ @ @ @ @ @ at 145.6 % market cap to GDP , today markets are trading at 146 % .
These are not only historically extreme valuations they are also entirely incompatible with any valuation history in context of the economic backdrop we have : 20 % unemployment , massively regressive earnings , you name it .
Some will justify the highest valuations with a coming “ V ” shape recovery .
Even if you get a “ V ” you have to assume new record high valuations from here .
But there is no “ V @ @ @ @ @ @ @ with a projection yesterday suggesting it may take a decade to recover from all this : The only V is in the stock market driven by artificial liquidity and it ’ s dividing the haves and have nots ever farther apart .
And the layoff announcements keep coming .
See this tweet thread for some of the ones I ’ ve been tracking : And they keep mounting and they are sizable .
Which brings me back to a larger point I ’ ve been making for a while : Wealth inequality 2020 @ @ @ @ @ @ @ inequality yet .
Jay Powell may deny all he wants that the Fed ’ s policies are contributing to wealth inequality , but that ’ s just a lie .
If he hasn ’ t noticed , but America is Breaking Bad .
While the current protests in America were triggered by a specific event , the horrid killing of George Floyd , the protests represent something deeper : Anger and anxiety and a sense of injustice in general .
In past recessions everybody got hurt to some extent , even the top @ @ @ @ @ @ @ of dropping asset prices .
Not this time , stocks are saved , jobs are not .
And as the top 1 % own the majority of stocks and the bottom 50 % own virtual no stocks the correlation with the wealth inequality curve only appears to escape Jay Powell .
Now it is the bottom 50 % which has predominantly lost their jobs and thanks to the Fed ’ s monstrous interventions the top 1 % can take comfort that their asset values have been largely protected .
An as perverse distortion @ @ @ @ @ @ @ While the Fed continues to deny the obvious market participants of course know better .
From my perch of course they Fed has no credibility and Powell ’ s denial of negative rates as a policy tool is already challenged by one of the Fed ’ s own economists knowing there is no V coming : So the jury is out , but I for one would not be surprised to see the Fed eventually implement negative rates .
Especially if markets were to drop hard again .
As it stands we ’ @ @ @ @ @ @ @ stock market recovery in history , especially considering the context of the economic and valuation backdrop .
Sustainable ?
I suppose it ’ s in the eye of the beholder .
We can observe that the infamous megaphone pattern has once again been reached : But the squeeze may not be over yet as we can note on the futures contract that trend line is a bit higher still , along with the .786 fib : My view here : This liquidity , FOMO , TINA rally , whatever you want to call @ @ @ @ @ @ @ has no foundation in earnings , growth or future expected growth .
It is Fed manufactured and yes I believe what I say : If vertical equity prices were the intended or unintended consequences they are not producing growth or a V shaped recovery .
There will be a recovery yes , but to a smaller normal .
But in process the Fed has vastly disconnected asset prices from the economy and only multiple expansion can keep investors on the safe side .
To me this action is not sustainable , the disconnect @ @ @ @ @ @ @ for a nasty reversion to come .
And that reversion itself will then cause a massive dampening in sentiment .
In short : They have set markets and the economy up for a deepening of the malaise as the liquidity is going to all the wrong places but the real economy .
And the protests on the streets of America they are the real economy and the voices we ’ re hearing are saying : We can ’ t breathe .
And the message they are sending is : America is Breaking Bad @ @ @ @ @ @ @ appears to be to deny it all and to repeat the same policies that have brought us to this point , but with even more intensity .
And that intensity has paid off .
For the top 1 % .
Congratulations .
This rally is crystal blue meth .
Consider with caution .

Authored by Sven Henrich via NorthmanTrader.com,
Well, they’ve done it again. The Fed has once again managed to erase the larger market pain. This time it was not the standard correction that was erased, this time they erased a market crash as $NDX is trading at all time human history highs.
I, for one, have to say I am surprised how effective central banks have been in squeezing markets higher again. I thought after 10 years of this monetary nonsense they would finally lose effectiveness in their ability to manipulate markets. Clearly I was wrong. But then I also didn’t see $3 trillion in Fed balance sheet expansion coming in a matter of a few months.
So one has to clearly acknowledge central banks continue to hold complete control over these markets. But it comes at a price that will remain ignored for now, but nevertheless I’m aiming to highlight some of the issues I see.
In my view central banks, in their quest to conduct a successful rescue operation, are killing the patient in the process. And nobody holds them to account, except some perplexed voices like myself are trying to at least raise the issues. (See also Stock Market Straight Talk)
And it’s not over of course. The ECB will announce more stimulus and there are more fiscal stimulus efforts coming as well and in process they are literally manufacturing the largest market bubble ever.
Bottomline: The distortions have become more extreme than expected.
And these distortions can be seen and measured in a number of ways.
First off the most obvious but also most ignored: Valuations are SCREAMING danger:
Yesterday we closed at 145.6% market cap to GDP, today markets are trading at 146%.
These are not only historically extreme valuations they are also entirely incompatible with any valuation history in context of the economic backdrop we have: 20% unemployment, massively regressive earnings, you name it.
Some will justify the highest valuations with a coming “V” shape recovery. Even if you get a “V” you have to assume new record high valuations from here.
But there is no “V”. The CBO came out out with a projection yesterday suggesting it may take a decade to recover from all this:
The only V is in the stock market driven by artificial liquidity and it’s dividing the haves and have nots ever farther apart.
And the layoff announcements keep coming. See this tweet thread for some of the ones I’ve been tracking:
Every company right now is busy figuring out how to do more with less.
And once they figure who the less is those jobs are not coming back. — Sven Henrich (@NorthmanTrader) May 11, 2020
And they keep mounting and they are sizable.
Which brings me back to a larger point I’ve been making for a while: Wealth inequality
How societies get destroyed.
The top 1%'s share of total assets has never been higher at nearly 30% while the bottom 50% barely own 5.8% in aggregate.
Chart prior to Covid.
And now many of the ones in the bottom 50% have lost their jobs. pic.twitter.com/JBtNz2cl38 — Sven Henrich (@NorthmanTrader) June 2, 2020
2020 has seen the largest expansion in wealth inequality yet. Jay Powell may deny all he wants that the Fed’s policies are contributing to wealth inequality, but that’s just a lie.
We are primarily funded by readers. Please subscribe and donate to support us!
"Powell Says Fed Policies ‘Absolutely’ Don’t Add to Inequality" That is such a bold face lie & willful denial. The Fed will never admit this because to do so would reveal their entire policy construct to be an absolute shambles. Despicable.t.co/rM3UvJfM3X — Sven Henrich (@NorthmanTrader) May 30, 2020
If he hasn’t noticed, but America is Breaking Bad.
While the current protests in America were triggered by a specific event, the horrid killing of George Floyd, the protests represent something deeper: Anger and anxiety and a sense of injustice in general.
In past recessions everybody got hurt to some extent, even the top 1% at least in the form of dropping asset prices. Not this time, stocks are saved, jobs are not. And as the top 1% own the majority of stocks and the bottom 50% own virtual no stocks the correlation with the wealth inequality curve only appears to escape Jay Powell.
Now it is the bottom 50% which has predominantly lost their jobs and thanks to the Fed’s monstrous interventions the top 1% can take comfort that their asset values have been largely protected. An as perverse distortion as we’ve ever seen.
While the Fed continues to deny the obvious market participants of course know better.
As Mohammed El-Erian recently wrote:
“By contributing to higher wealth inequality and dragging the Fed deeper into “quasi fiscal” funding operations, the central bank also risks its credibility and political autonomy.”
From my perch of course they Fed has no credibility and Powell’s denial of negative rates as a policy tool is already challenged by one of the Fed’s own economists knowing there is no V coming:
And here we go.
The jawboning begins. t.co/Zadows5dTE — Sven Henrich (@NorthmanTrader) June 2, 2020
So the jury is out, but I for one would not be surprised to see the Fed eventually implement negative rates. Especially if markets were to drop hard again.
As it stands we’re staring at the biggest and fastest stock market recovery in history, especially considering the context of the economic and valuation backdrop.
Sustainable? I suppose it’s in the eye of the beholder.
We can observe that the infamous megaphone pattern has once again been reached:
But the squeeze may not be over yet as we can note on the futures contract that trend line is a bit higher still, along with the .786 fib:
My view here: This liquidity, FOMO, TINA rally, whatever you want to call it, is not sustainable. It has no foundation in earnings, growth or future expected growth. It is Fed manufactured and yes I believe what I say:
The Fed is creating the largest asset bubble ever. — Sven Henrich (@NorthmanTrader) June 2, 2020
If vertical equity prices were the intended or unintended consequences they are not producing growth or a V shaped recovery. There will be a recovery yes, but to a smaller normal. But in process the Fed has vastly disconnected asset prices from the economy and only multiple expansion can keep investors on the safe side. To me this action is not sustainable, the disconnect and distortion too large setting markets up for a nasty reversion to come.
And that reversion itself will then cause a massive dampening in sentiment. In short: They have set markets and the economy up for a deepening of the malaise as the liquidity is going to all the wrong places but the real economy.
And the protests on the streets of America they are the real economy and the voices we’re hearing are saying: We can’t breathe. And the message they are sending is: America is Breaking Bad.
But the Fed’s strategy appears to be to deny it all and to repeat the same policies that have brought us to this point, but with even more intensity. And that intensity has paid off. For the top 1%. Congratulations.
This rally is crystal blue meth. Consider with caution.


investmentwatchblog--2020-06-03--Complacency can breed arrogance. “The Market can never er go downs now”, “Don’t fight it”, “I don’t

Complacency can breed arrogance. “The Market can never er go downs now”, “Don’t fight it”, “I don’t see us reversing anytime soon”…. etc., What better indicator do you want? A dump is coming. Be ready

Complacency can breed arrogance.@DiMartinoBooth @paranoidbull "I think that there’s a lot of complacency on what liquidity can accomplish when it comes to fixing solvency-related and asset valuation-related excesses.”t.co/8HvDN7B4Xb — FreeMarkets Are Dead-TQN-👑 (@TechQn) June 3, 2020
I';m seeing an ocean of overconfident bulls on Twitter again… "The Market can never er go downs now", "Don't fight it", "I don't see us reversing anytime soon"…. etc., What better indicator do you want? A dump is coming. Be ready $SPY — Mr Foxnose (@asymmetricalpha) June 3, 2020
2020: -US & Iran on the brink of a war
-Virus outbreak
-Recession starts
-Oil prices go negative
-40M people unemployed
-Fed prints record amounts
-Government borrows record amounts
-US & China relations heat up
-Riots everywhere And stocks are record overvalued. Adding up? pic.twitter.com/HOuVDfzLb8 — Otavio (Tavi) Costa (@TaviCosta) May 31, 2020
The @CNNBusiness Fear & Greed Index is now 60. Greed territory and inching closer (amazingly enough) to Extreme Greed levels. How much longer can the market rally in the face of bad socioeconomic news? Not to mention Covid-19? My story from Monday ICYMI. t.co/MH1Nd4R7SN — Paul R. La Monica (@LaMonicaBuzz) June 3, 2020
Hedge funds are coming up with creative incentives to attract investors amid accelerating outflows. This one is offering insurance against losses in return for paying managers a higher performance fee: t.co/G8ybz0k51d pic.twitter.com/A394OjCk1e — Lisa Abramowicz (@lisaabramowicz1) June 3, 2020
Unemployment rates by metro areas in April: 33.5% Las Vegas
24.4% Detroit
23.1% Cleveland
18.8% L.A.
17.5% Chicago
16.7% Seattle
16.2% Orlando
15.4% Boston
15.1% NYC
14.5% Philly
13.2% San Fran
13.2% Miami
12.8% Dallas
12.7% Atlanta
9.2% Minneapolist.co/6L93lMPOqA pic.twitter.com/4WA0CnjphY — Sam Ro 📉 (@SamRo) June 3, 2020


investmentwatchblog--2020-06-03--Democrat mayors during coronavirus:

Democrat mayors during coronavirus:

-You can ’ t open your business -You can ’ t go to church -You can ’ t buy a @ @ @ @ @ your business -Won ’ t protect your church -And of course , still don ’ @ @ @ @ @ a gun

Democrat mayors during #coronavirus:
-You can’t open your business
-You can’t go to church
-You can’t buy a gun
Democrat mayors during riots:
-Won’t protect your business
-Won’t protect your church
-And of course, still don’t want you to have a gun
— Rep. Jim Jordan (@Jim_Jordan) June 3, 2020


investmentwatchblog--2020-06-03--Gold intervention by BIS held steady in March and April as study hints it’s done for Fed

The BIS long has acted on behalf of the Federal Reserve and has done so via swaps and crucially has been prepared to take on credit risk .
This invites… by Robert Lambourne via the Gold Anti-Trust Action Committee ( GATA ) According to its recently published March and April statements of account — — the Bank for International Settlements , which acts as an agent for most central banks , appears to have made little change in its use of gold swaps .
The BIS is estimated to have increased its position in gold swaps and gold-related derivatives by @ @ @ @ @ @ @ , and then to have decreased it by 4 tonnes in April to 328 tonnes .
Since May 2019 , when it stood at 78 tonnes , the bank ’ s use of gold swaps and derivatives has risen by more than 300 percent .
The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks and then deposits this gold in gold sight accounts held on behalf of the BIS at major central banks like the U.S. Federal Reserve .
These transactions create a mismatch @ @ @ @ @ @ @ being long unallocated gold ( the gold held in BIS sight accounts at major central banks ) and short allocated gold ( gold required to be returned to its swap counterparty ) .
So far this mismatch has not been reported in the BIS ’ annual reports .
Recently the BIS published a working paper titled “ Central Bank Swaps Then and Now : Swaps and Dollar Liquidity in the 1960s , ” written by Robert N McCauley and Catherine R Schenk : The introduction to the paper states the following with the @ @ @ @ @ @ @ quoted section added for emphasis : “ We profile the Federal Reserve ’ s swap lines since 1962 .
We consult not only Fed sources , but also Bank of England , Swiss National Bank , and Bank for International Settlements archives .
We provide the first systematic analysis of the Fed ’ s eurodollar operations in the 1960s through swap lines .
The BIS served the Fed as an operating arm , taking credit risk as it placed eurodollar deposits to stabilise offshore dollar yields in advance of year- or quarter-end window-dressing @ @ @ @ @ @ @ a very modern ring.
” While the scope and content of this study are not directly relevant to the use of gold swaps by the BIS , the study does highlight the close relationship between the Federal Reserve and the BIS .
It emphasizes that the BIS long has acted on behalf of the Federal Reserve and has done so via swaps and crucially has been prepared to take on credit risk .
This invites conjecture that the use of gold swaps by the BIS is driven by the Fed .
The study @ @ @ @ @ @ @ case , but that the BIS has never offered any comment on its exposure caused by being long unallocated gold and short allocated gold may well be explained by the most powerful central bank , the Fed , being the sole recipient of the unallocated gold placed in sight accounts by the BIS .
The BIS auditors who must satisfy themselves that the bank can cover its mismatch between allocated and unallocated gold even in extreme market conditions would presumably see the Fed as being capable of supplying as much gold as the @ @ @ @ @ @ @ terminated .
There is not enough information in the BIS ’ monthly reports to calculate the exact amount of its swaps , but based on the information in its statement for April the bank ’ s month-end gold swaps can be estimated to be about 328 tonnes , compared to 332 tonnes at March 31 , 326 tonnes at February 29 , 320 tonnes at January 31 , 313 tonnes at December 31 , 2019 , 250 tonnes at November 30 , 2019 , 186 tonnes at October 31 , 2019 , 128 @ @ @ @ @ @ @ 162 tonnes at August 31 , 2019 , 95 tonnes at July 31 , 2019 , 126 tonnes at June 30 , 2019 , 78 tonnes at May 31 , 2019 , 88 tonnes at April 30 , 2019 , 175 tonnes at March 31 , 2019 , 303 tonnes at February 28 , 2019 , 247 tonnes at January 31 , 2019 , 275 tonnes at December 31 , 2018 , and , in 2018 , 308 tonnes in November , 372 tonnes in October , 238 tonnes in September , and @ @ @ @ @ @ @ on the bank ’ s medium-term history of using gold swaps is available here : On February 3 , 2019 , GATA published comments from a former gold industry executive describing the activities of the BIS in gold swaps in earlier decades : The former executive wrote : “ Effectively this process created a supply of ‘ paper gold ’ — sometimes but not always marked to market — that had a depressing effect on the gold price.
” The BIS refuses to explain its activity in the gold market , its objectives @ @ @ @ @ @ @ : Robert Lambourne is a retired business executive in the United Kingdom who consults with GATA about the involvement of the Bank for International Settlements in the gold market .
* * * Wine carrying the label of the Gold Anti-Trust Action Committee , cases of which were awarded to three lucky donors in GATA ’ s recent fundraising campaign , are now available for purchase by the case from Fay J Winery LLC in Texarkana , Texas .
Each case has 12 bottles and the cost is $ 240 , which includes @ @ @ @ @ @ @ s what the bottles look like : Buyers can compose their case by choosing as many as four varietals from the list here : GATA will receive a commission on each case of GATA-label wine sold .
So if you like wine and buy it anyway , why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals ?
To order a case of GATA-label wine , please e-mail Fay J Winery at bagman1236 @ aol.com .
“ Rigged ” is a concise @ @ @ @ @ @ @ rigging policy and extensively credits GATA ’ s work exposing it .
Ten percent of sales proceeds are contributed to GATA .
Buy a copy for $ 14.99 through Amazon — — or for an additional $ 3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert @ comcast.net .
Help keep GATA going : GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code .
Its e-mail dispatches are free , and you can subscribe @ @ @ @ @ @ @ please visit :

The BIS long has acted on behalf of the Federal Reserve and has done so via swaps and crucially has been prepared to take on credit risk. This invites…
by Robert Lambourne via the Gold Anti-Trust Action Committee (GATA)
By Robert Lambourne
Tuesday, June 2, 2020
According to its recently published March and April statements of account —
www.bis.org/banking/balsheet/statofacc200331.pdf
www.bis.org/banking/balsheet/statofacc200430.pdf
— the Bank for International Settlements, which acts as an agent for most central banks, appears to have made little change in its use of gold swaps. The BIS is estimated to have increased its position in gold swaps and gold-related derivatives by 6 tonnes in March to 332 tonnes, and then to have decreased it by 4 tonnes in April to 328 tonnes.
Since May 2019, when it stood at 78 tonnes, the bank’s use of gold swaps and derivatives has risen by more than 300 percent.
The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks and then deposits this gold in gold sight accounts held on behalf of the BIS at major central banks like the U.S. Federal Reserve. These transactions create a mismatch at the BIS, which ends up being long unallocated gold (the gold held in BIS sight accounts at major central banks) and short allocated gold (gold required to be returned to its swap counterparty). So far this mismatch has not been reported in the BIS’ annual reports.
Recently the BIS published a working paper titled “Central Bank Swaps Then and Now: Swaps and Dollar Liquidity in the 1960s,” written by Robert N McCauley and Catherine R Schenk:
www.bis.org/publ/work851.htm
www.bis.org/publ/work851.pdf
The introduction to the paper states the following with the use of boldfaced italic print within this quoted section added for emphasis:
“We profile the Federal Reserve’s swap lines since 1962. We consult not only Fed sources, but also Bank of England, Swiss National Bank, and Bank for International Settlements archives. We provide the first systematic analysis of the Fed’s eurodollar operations in the 1960s through swap lines. The BIS served the Fed as an operating arm, taking credit risk as it placed eurodollar deposits to stabilise offshore dollar yields in advance of year- or quarter-end window-dressing. While short-lived, these operations have a very modern ring.”
While the scope and content of this study are not directly relevant to the use of gold swaps by the BIS, the study does highlight the close relationship between the Federal Reserve and the BIS. It emphasizes that the BIS long has acted on behalf of the Federal Reserve and has done so via swaps and crucially has been prepared to take on credit risk.
This invites conjecture that the use of gold swaps by the BIS is driven by the Fed.
The study provides no proof that this is the case, but that the BIS has never offered any comment on its exposure caused by being long unallocated gold and short allocated gold may well be explained by the most powerful central bank, the Fed, being the sole recipient of the unallocated gold placed in sight accounts by the BIS.
The BIS auditors who must satisfy themselves that the bank can cover its mismatch between allocated and unallocated gold even in extreme market conditions would presumably see the Fed as being capable of supplying as much gold as the BIS would require once the gold swaps terminated.
There is not enough information in the BIS’ monthly reports to calculate the exact amount of its swaps, but based on the information in its statement for April the bank’s month-end gold swaps can be estimated to be about 328 tonnes, compared to 332 tonnes at March 31, 326 tonnes at February 29, 320 tonnes at January 31, 313 tonnes at December 31, 2019, 250 tonnes at November 30, 2019, 186 tonnes at October 31, 2019, 128 tonnes at September 30, 2019, 162 tonnes at August 31, 2019, 95 tonnes at July 31, 2019, 126 tonnes at June 30, 2019, 78 tonnes at May 31, 2019, 88 tonnes at April 30, 2019, 175 tonnes at March 31, 2019, 303 tonnes at February 28, 2019, 247 tonnes at January 31, 2019, 275 tonnes at December 31, 2018, and, in 2018, 308 tonnes in November, 372 tonnes in October, 238 tonnes in September, and 370 tonnes in August.
More background on the bank’s medium-term history of using gold swaps is available here:
www.gata.org/node/18825
On February 3, 2019, GATA published comments from a former gold industry executive describing the activities of the BIS in gold swaps in earlier decades:
www.gata.org/node/18828
The former executive wrote: “Effectively this process created a supply of ‘paper gold’ — sometimes but not always marked to market — that had a depressing effect on the gold price.”
We are primarily funded by readers. Please subscribe and donate to support us!
The BIS refuses to explain its activity in the gold market, its objectives, and the underlying parties in interest:
www.gata.org/node/17793
—–
Robert Lambourne is a retired business executive in the United Kingdom who consults with GATA about the involvement of the Bank for International Settlements in the gold market.
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA’s recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here’s what the bottles look like:
www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert’s “Rigged”
“Rigged” is a concise explanation of government’s currency market rigging policy and extensively credits GATA’s work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon —
www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651…
— or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
www.gata.org
To contribute to GATA, please visit:
www.gata.org/node/16


investmentwatchblog--2020-06-03--Warning: a MASSIVE Move is Coming… Will It Be a Crash… or an Inflationary Storm?

Stocks continue to ignore 40 million unemployed , an economic depression , and societal collapse/ riots .
The S & @ @ @ @ @ test major resistance at 3,100 .
The market is nearing the point of its rising @ @ @ @ @ is coming .
The VIX is also warning us that a big move is coming @ @ @ @ @ the point of its wedge formation .
Meanwhile , the 5-year , 30-year yield curve @ @ @ @ @ seen since 2017 .
Is this predicting an economic boom or raging inflation ?
Gold @ @ @ @ @ latter .
The precious metal is going vertical against every major currency : dollars , @ @ @ @ @ .
On that note , we just published a Special Investment Report concerning FIVE contrarian @ @ @ @ @ make inflation pay you as it rips through the financial system in the months ahead @

Stocks continue to ignore 40 million unemployed, an economic depression, and societal collapse/ riots.
The S&P 500 rallied yesterday to test major resistance at 3,100. The market is nearing the point of its rising wedge. A big move is coming.
The VIX is also warning us that a big move is coming. It too is at the point of its wedge formation.
We are primarily funded by readers. Please subscribe and donate to support us!
Meanwhile, the 5-year, 30-year yield curve has steepened to levels not seen since 2017. Is this predicting an economic boom or raging inflation?
Gold suggests it’s the latter. The precious metal is going vertical against every major currency: dollars, euros, yen and francs.
On that note, we just published a Special Investment Report concerning FIVE contrarian investments you can use to make inflation pay you as it rips through the financial system in the months ahead.


investmentwatchblog--2020-06-03--Tucker Carlson On The Violence Against Cops By The Mob

Tucker Carlson On The Violence Against Cops By The Mob '' For 38 years David Dorn was a police officer @ @ @ @ @ Louis .
No one ever accused Dorn of racism , he was black .
He @ @ @ @ @ was murdered last night by the mob . ''
pic.twitter.com/hszxwYSn7h

Tucker Carlson On The Violence Against Cops By The Mob
"For 38 years David Dorn was a police officer in the city of St. Louis. No one ever accused Dorn of racism, he was black. He's dead now, he was murdered last night by the mob." pic.twitter.com/hszxwYSn7h
— The Columbia Bugle 🇺🇸 (@ColumbiaBugle) June 3, 2020