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Watch Live: Tech Giants Under Criminal Investigation for Potentially Illegal Data Deals

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KU Offers ‘angry white male’ Course

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Can the EU Survive the Next Financial Crisis?

Despite the ECB’s subsidy of the Eurozone’s banking system, it remains in a sleepwalking state similar to the non-financial, non-crony-capitalist zombified economy.

Gone are the heady days of investment banking. There is now a legacy of derivatives and regulators’ fines. Technology has made the over-extended branch network, typical of a European retail bank, a costly white elephant. The market for emptying bank buildings in the towns and villages throughout Europe must be dire, a source of under-provisioned losses. On top of this, the ECB’s interest rate policy has led to lending margins becoming paper-thin.

A negative deposit rate of 0.4% at the ECB has led to negative wholesale (Euribor) money market rates along the yield curve to at least 12 months. This has allowed French banks, for example, to fund Italian government bond positions, stripping out 33 basis points on a “riskless” one-year bond. It’s the peak of collapsed lending margins when even the hare-brained can see the risk is greater than the reward, whatever the regulator says. The entire yield curve is considerably lower than Italian risk implies it should be, given its existing debt obligations, with 10-year Italian government bonds yielding only 2.55%. That’s less than equivalent US Treasuries, the global risk-free standard.

Government bond yields have been and remain considerably reduced through the ECB’s interest rate suppression and its bond-buying programs. The expansion of Eurozone government debt since the Lehman crisis has been about 50% to €9.69 trillion. This expansion, representing €3.1 trillion, compares with the expansion of the Eurosystem’s own balance sheet of €2.8 trillion since 2009. In other words, the expansion of Eurozone government debt has been nearly matched by the ECB’s monetary creation.

Bond prices, such as that of Italian 10-year debt yielding 2.55%, are therefore meaningless in the market sense. This has not been much of an issue so long as asset prices are rising and the global economy is expanding, because monetary inflation will keep the fiat bubble expanding. It is when a credit crisis materializes that the trouble starts. The fiat bubble develops leaks and eventually implodes.

Now that the global economy has stopped expanding and is on the brink of recession, under these changing conditions the monetary, systemic and economic dangers facing the Eurozone are rapidly rising. This is a problem beyond the ability of the ECB to contain. Politicians and their institutions in Brussels seem unaware of the approaching storm, but when they do become aware, they will turn to group-think for protection. Like fish in a tightening bait-ball, they actions are set to accelerate their own demise.

The Start of EU Disintegration

There can be no doubt that the ECB has so far only managed to prevent a financial and systemic crisis materializing because of the background of a worldwide monetary and credit expansion inflating financial asset prices. A global background of rising asset values was necessary for the consequences of the Greek financial crisis to be absorbed without destabilizing the whole caboodle. If it had happened during a global credit crisis the outcome would have been different.

Inevitably, at some stage the euro’s purchasing power will begin to fall under the weight of accelerating monetary inflation and the demands from crony-capitalists for a competitive exchange rate. Rising bond yields will be the inevitable outcome, requiring yet more QE from the ECB. It takes little imagination to realize that in an environment of rising bond yields and falling asset values the Italian government and its economy will be exposed to intractable difficulties. The difference from the on-going Greek crisis is Italy’s economy is nearly ten times the size of that of Greece. So far, aided by inflating markets, there has not been a full-blown crisis. In a vicious bond bear market of the scale likely to accompany the next credit crisis, Italy alone could crash the whole Eurosystem.

That could happen by the end of this year, because when things go wrong the pace calamities usually accelerates. Today, the EU is threatened with Brexit, which at the time of writing is yet to be resolved. But there’s a significant possibility Britain will leave the EU without a comprehensive trade deal and without paying all the money allegedly owed to the EU. The money will have to be made up by the other members, principally by Germany, France, Italy and Spain, being the largest remaining economies. Furthermore, the UK’s economic policy is bound to focus on being a competitive regional entrepôt for global trade, enhancing her economic performance relative to a stultifying EU. Existing political tensions within the EU are certain to escalate as the EU falls behind, and Brussels, hooked on profligacy, for the first time faces budget cuts.

It is becoming increasingly obvious to independent observers that the EU supra-national socializing model is failing structurally, politically, economically and financially. The next credit crisis, which appears to be evolving from the seeds of today’s events, looks set to end the European dream.



Big Tech has gained power by absorbing personal data from its users.

Source: InfoWars

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Former Trump Lawyer Cohen Gets 2-Month Delay on Imprisonment

President Donald Trump's former personal lawyer Michael Cohen will now report to federal prison on May 6 after a judge granted him a two-month delay to allow him to recover from a surgical procedure, according to a court filing on Wednesday.

Cohen's lawyers asked for a 60-day extension in a letter to U.S. District Court Judge William Pauley to allow Cohen to undergo "intensive post-surgical physical therapy" and to prepare for testimony before three congressional committees.

While the procedure was not disclosed, Cohen recently had surgery on his shoulder, a person familiar with the matter said.

Federal prosecutors in Manhattan, who are handling his criminal case, approved of the two-month delay, the letter said.

Cohen is due to testify in the coming weeks before the House of Representatives Oversight Committee in a public hearing, and before the Senate and House intelligence committees in closed sessions.

Cohen was sentenced in December to three years in prison for crimes including orchestrating hush payments to women who claimed to have had affairs with Trump in violation of campaign laws before the 2016 election.

Source: NewsMax Politics

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Libertarian May Hold Balance of Power in Israel Elections

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Source: InfoWars

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Alabama Democratic Sen. Doug Jones gets first GOP challenger for 2020

An Alabama congressman on Wednesday became the first prominent Republican to enter the race to challenge Democratic Sen. Doug Jones, one of the most vulnerable incumbents up for re-election in 2020.

U.S. Rep. Bradley Byrne announced his intention to run for the seat that was once held by former U.S. Attorney General Jeff Sessions, vowing to be a senator “who will fight with President Trump.”

“We have nominate the right conservative to run this race,” Byrne said in a phone interview with Fox News on Wednesday night after his announcement with supporters in Mobile. “Somebody who can appeal to the broadest of our Republican coalition in Alabama, who can run a strong race against incumbent Democrat Doug Jones, who now has a record."

ISIS WIFE FROM ALABAMA WILL NOT BE ADMITTED TO THE US, POMPEO SAYS

In 2017, Jones pulled off a major upset in Alabama by defeating the embattled Republican Roy Moore in a special election to fill Sessions’ vacant seat. Moore, the former chief justice of Alabama’s Supreme Court, faced multiple allegations during the campaign that he pursued romantic relationships with teenage girls while he was in his thirties -- accusations Moore repeatedly denied.

But the accusations propelled Jones to victory, making him the first Democrat to win election to the Senate from the deeply conservative state in 25 years.

U.S. Rep. Bradley Byrne announced his intention to run for the seat once held by former U.S. Attorney General Jeff Sessions during a campaign event in Mobile, vowing to be a senator “who will fight with President Trump. (Byrne campaign).

U.S. Rep. Bradley Byrne announced his intention to run for the seat once held by former U.S. Attorney General Jeff Sessions during a campaign event in Mobile, vowing to be a senator “who will fight with President Trump. (Byrne campaign).

“I think 2017 was just a totally unique situation,” Byrne said. “It was very strange from the beginning to the end. I just don’t see that happening again. President Trump will be at the top of the ticket. I can’t see people voting for President Trump and then going over and voting for a Democratic senator.”

JEFF SESSIONS WEIGHS POSSIBLE BID FOR OLD SENATE SEAT IN ALABAMA

Jones’ is a top target for Republicans in a state Trump won 62 percent of the vote in Alabama in 2016.

“Doug Jones is for gun control,” Byrne said. “Doug Jones is for abortion. Doug Jones is against the wall. Doug Jones was against Judge Kavanaugh. Doug Jones is against Donald Trump. I’d say each and every one of those is disqualifying.”

Asked to assess Trump’s first term, Byrne cited the president’s record on judges, tax reform, the economy and border security and said, “I’ve been very pleased. I think he’s been a great president. I’ve been pleased to be one of the strongest supporters he’s got in Congress.”

Byrne, a former state legislator and chancellor of Alabama's two-year college system, was first elected to Congress in 2013. He made an unsuccessful bid for Alabama’s governorship in 2010.

Jones’ campaign issued a statement Wednesday calling Byrne a “career politician.”

“It doesn’t matter if Senator Jones has 1 opponent or 100. His focus is working for the people of Alabama whether it’s protecting our auto jobs and farmers against dangerous tariffs or building health care infrastructure in Alabama’s rural communities,” the Democrat’s campaign statement said.

The GOP primary could attract a large field, with others, like Senate President Pro Tem Del Marsh, considering getting into the race.

Sessions, who was forced out of the Justice Department last year after infuriating the president over his recusal from the Russia investigation, hasn’t ruled out running for his old seat. But the former attorney general has not made any noticeable moves indicating he is preparing for a run.

The Associated Press contributed to this report.

Source: Fox News Politics

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Wirecard says compliance manager’s departure not connected to investigation

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim
FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany September 6, 2018. REUTERS/Michael Dalder

March 31, 2019

FRANKFURT (Reuters) – The departure of Wirecard’s compliance manager Royston Ng has no connection to the German payments firm’s investigations into financial irregularities in Singapore, a company spokeswoman said on Sunday.

Shares in Wirecard have seen volatile trading since the Financial Times ran a series of investigative reports alleging fraud and false accounting at the firm’s Asia-Pacific office.

Local staff at the Singapore office of Wirecard may have committed crimes but these were not material to the German payment company’s financial position, an investigation by outside law firm Rajah & Tann found, Wirecard said last week.

In a message conveyed by Wirecard, Ng said that he was leaving the company to pursue other career opportunities.

Wirecard has sued the Financial Times over its reports.

(Reporting by Jörn Poltz; Writing by Arno Schuetze; Editing by Raissa Kasolowsky)

Source: OANN

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Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul
Afghan President Ashraf Ghani speaks during the inauguration of the newly-elected parliament in Kabul, Afghanistan April 26, 2019. REUTERS/Omar Sobhani

April 26, 2019

By Rupam Jain and Hameed Farzad

KABUL (Reuters) – Afghan President Ashraf Ghani encouraged newly-elected lawmakers to participate in the peace process with the Taliban as he opened on Friday the first session of parliament since a controversial election.

Ghani has invited thousands of politicians, religious scholars and rights activists to an assembly known as a loya jirga next week to discuss ways to end the 17-year war.

Several opposition leaders have said they will boycott the four-day assembly in Kabul, saying it was pulled together without their input and is being used by Ghani as he seeks a second term in a September presidential election.

“We have presented the peace plan on a regular basis and we are committed to it,” Ghani said in the first session since parliamentary elections marred by technical problems, militant attacks and accusations of voting fraud last year.

“Based on this plan, there will be no peace deal and negotiation that does not have the green card of the parliament,” he added.

Officials from the United States and the Taliban have held several rounds of talks to end the Afghan war.

U.S. negotiator, Zalmay Khalilzad, has reported some progress toward an accord on a U.S. troop withdrawal and on how the Taliban would prevent extremists from using Afghanistan to launch attacks as al Qaeda did on Sept. 11, 2001.

The insurgents have so far rejected U.S. demands for a ceasefire and talks on the country’s political future that would include Afghan government officials.

The loya jirga, a centuries-old institution used to build consensus among competing tribes, factions and ethnic groups, is an attempt by Ghani to influence the peace talks and cement his position for a second term, Afghan politicians and Western diplomats say.

Amid growing political divisions in Kabul, opposition politicians have demanded that Ghani step down when his mandate ends next month, and give way to an interim government to oversee peace talks with the Taliban. Ghani has ruled that out.

The country’s top court said last week Ghani can stay in office until the presidential election in September.

(Reporting by Hameed Farzad, Rupam Jain, Editing by Darren Schuettler)

Source: OANN

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Deputy Attorney General Rod Rosenstein Thursday defended special counsel Robert Mueller’s investigation while slamming former President Barack Obama’s administration for being slow to take action on Russian interference in U.S. elections and ex-FBI Director James Comey for telling Congress the agency was investigating collusion between the Trump campaign and Russia.

“Our nation is safer, elections are more secure, and citizens are better informed about covert foreign influence schemes,” Rosenstein said in a speech to the Armenian Bar Association, marking his first public remarks after the Mueller report was released, reports CBS News.

He also pointed out that the investigation revealed a pattern of computer hacking and the use of social media to undermine elections as “only the tip of the iceberg of a comprehensive Russian strategy to influence elections, promote social discord, and undermine America, just like they do in many other countries,” reports The Wall Street Journal.

The Obama administration also made “critical decisions,” including choosing not to publicize the full story about Russian hackers and social media trolling, “and how they relate to a broader strategy to undermine America,” said Rosenstein.

He noted that the Mueller probe began after Comey disclosed during a hearing before Congress that President Donald Trump “pressured him to close the investigation and the president denied that the conversation occurred.”

Rosenstein said two years ago, when he was confirmed, he was told by a Republican senator that he would be in charge of the probe and that he’d report the results to the American people.

However, he said he didn’t promise to do that, because it is “not our job to render conclusive factual findings. We just decide whether it is appropriate to file criminal charges.”

Source: NewsMax Politics

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FILE PHOTO: The Huawei logo is pictured outside its Huawei's factory campus in Dongguan, Guangdong province
FILE PHOTO: The Huawei logo is pictured outside its Huawei’s factory campus in Dongguan, Guangdong province, China, March 25, 2019. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Ben Blanchard

BEIJING (Reuters) – Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China’s Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.

News that Britain’s National Security Council, attended by senior ministers and spy chiefs, had agreed on Tuesday to bar Huawei from all core parts of the country’s 5G network and restrict its access to non-core elements was leaked to a national newspaper.

The leak of secret discussions has sparked anger in parliament and amongst Britain’s intelligence community. Britain’s most senior civil servant Mark Sedwill has launched an inquiry and written to ministers who were at the meeting.

“My understanding from London (is) that an investigation has been announced into apparent leaks from the NSC meeting earlier this week,” said Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing.

“To my knowledge there has never been a leak from a National Security Council meeting before and therefore I think it is very important that we get to the bottom of what happened here,” he told Reuters in a pooled interview.

British culture minister Jeremy Wright said on Thursday he could not rule out a criminal investigation. The majority of the ministers at the NSC meeting have said they were not involved, according to media reports.

Hammond said he was unaware of any previous leak from a meeting of the NSC.

“It’s not about the substance of what was apparently leaked. It’s not earth-shattering information. But it is important that we protect the principle that nothing that goes on in national security council meetings must ever be repeated outside the room.”

Allowing Huawei a reduced role in building its 5G network puts Britain at odds with the United States which has told allies not to use its technology at all because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

There have been concerns that the NSC’s conclusion, which sources confirmed to Reuters, could upset other allies in the world’s leading intelligence-sharing network – the Five Eyes alliance of the United States, Britain, Australia, Canada and New Zealand.

However, British ministers and intelligence officials have said any final decision on 5G would not put critical national infrastructure at risk. Ciaran Martin, head of the cyber center of Britain’s main eavesdropping agency, GCHQ, played down any threat of a rift in the Five Eyes alliance.

(Writing by Michael Holden; Editing by Mark Heinrich)

Source: OANN

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President Trump on Friday said “no money” was paid to North Korea for Otto Warmbier, after reports that the U.S. received a $2 million hospital bill from Pyongyang for the late American prisoner’s care.

“No money was paid to North Korea for Otto Warmbier, not two Million Dollars, not anything else. This is not the Obama Administration that paid 1.8 Billion Dollars for four hostages, or gave five terroist[sic] hostages plus, who soon went back to battle, for traitor Sgt. Bergdahl!” Trump tweeted Friday.

NORTH KOREA GAVE US $2M HOSPITAL BILL OVER CARE OF AMERICAN OTTO WARMBIER, SOURCES SAY

The Washington Post first reported that North Korean authorities insisted the U.S. envoy sent to retrieve Warmbier, 21, who was a student of the University of Virginia, sign a pledge to pay the bill before allowing Warmbier’s comatose body to return to the United States. Sources confirmed the bill and the amount to Fox News on Thursday.

Sources told the post that the envoy signed an agreement to pay the medical bill on instructions from the president, but a source told Fox News that the U.S. did not ever pay money to North Korea.

The White House declined to comment when asked on the bill, with Press Secretary Sarah Sanders saying in a statement that: “We do not comment on hostage negotiations, which is why they have been so successful during this administration.”

Meanwhile, the president added: “’President[sic] Donald J. Trump is the greatest hostage negotiator that I know of in the history of the United States. 20 hostages, many in impossible circumstances, have been released in last two years. No money was paid.’ Cheif[sic] Hostage Negotiator, USA!”

Warmbier was on tour in North Korea when he allegedly stole a propaganda sign from a hotel. He was arrested in January 2016 and sentenced to 15 years in prison with hard labor in March 2016. Warmbier, for unknown reasons, fell into a coma while in custody and was held in that condition for an additional 17 months.

North Korean officials did not tell American officials until June 2017 that Warmbier had been unconscious the entire time. He died less than a week after he returned to the U.S. North Korean officials, though, have repeatedly denied accusations that Warmbier was tortured, instead claiming that he had suffered from botulism and then slipped into a coma after taking a sleeping pill.

AMERICAN PRISONERS HELD IN NORTH KOREA ON THEIR WAY HOME AFTER POMPEO VISIT, TRUMP SAYS

Fred and Cindy Warmbier sued North Korea over their son’s death and in December were awarded $501 million in damages – money that the Hermit Kingdom will probably never pay.

While the Warmbiers blamed North Korean leader Kim Jong Un, Trump has said he believes Kim’s claims that he did not know about the student’s treatment.

Trump and Kim have met in two separate summits. The most recent, held in February, ended without an agreement on denuclearization of the Korean Peninsula.

Sen. Rob Portman, R-Ohio, told Fox News: “Otto Warmbier was mistreated by North Korea in so many ways, including his wrongful conviction and harsh sentence, and the fact that for 16 months they refused to tell his family or our country about his dire condition they caused.  No, the United States owes them nothing. They owe the Warmbier family everything.”

Last year, the Trump administration was also able to save three American prisoners held by North Korea. Kim Dong Chul, Tony Kim, and Kim Hak Song were all detained in North Korea. Secretary of State Mike Pompeo brought the three Americans home last May, and said they were all in “good health.”

Fox News’ John Roberts, Rich Edson, Nicholas Kalman, and Mike Emanuel contributed to this report.

Source: Fox News Politics

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Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon
Park Yoo-chun, a K-pop idol singer, arrives at the Suwon district court in Suwon, South Korea, April 26, 2019. REUTERS/Kim Hong-Ji

April 26, 2019

SEOUL (Reuters) – K-pop and drama star Park Yu-chun was arrested on Friday on charges of buying and using illegal drugs, a court said, the latest in a series of scandals to hit the South Korean entertainment business.

Suwon District Court approved the arrest warrant for Park, 32, due to concerns over possible destruction of evidence and flight risk, a court spokesman told Reuters.

Park is suspected of having bought about 1.5 grams of methamphetamine with his former girlfriend earlier this year and using the drug around five times, an official at the Gyeonggi Nambu Provincial Police Agency said.

Park has denied wrongdoing, saying he had never taken drugs, and he again denied the charges in court, Yonhap news agency said.

Park’s contract with his management agency had been canceled and he would leave the entertainment industry, Park’s management agency, C-JeS Entertainment, said on Wednesday.

Park was a member of boyband TVXQ between 2003 and 2009 before leaving the group with two other members, forming the group JYJ.

A scandal involving sex tapes, prostitutes and secret chat about rape led at least four other K-pop stars to quit the industry earlier this year.

The cases sparked a nationwide drugs bust and investigations into tax evasion and police collusion at night clubs and other nightlife spots.

(Reporting by Joyce Lee; Additional reporting by Heekyong Yang; Editing by Nick Macfie)

Source: OANN

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