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Democratic Socialism Is the Scenic Route to Serfdom

Jeff Miron and Ryan Bourne of the Cato Institute say that the newly popular idea of Democratic socialism isn't quite like the socialism of old but it would lead to the same destination: less freedom, more government control of the economy. The data is clear, they say, that when countries move toward socialism, their economies decline and people's living standards fall.

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Iraq says it tried to stop US from blacklisting Iran corps

Iraq's prime minster says his government tried to stop the U.S. from labelling Iran's Revolutionary Guard Corps as a "foreign terrorist organization," saying the designation could have negative consequences for Iraq and the Middle East.

Adel Abdul-Mahdi says Iraq will continue to invest in its relationship with both the U.S. and Iran despite the White House designation Monday. The Iraqi premier says his government spoke to the U.S. administration about the label.

Speaking at his weekly news conference Tuesday, Abdul-Mahdi said that Iraq as Iran's neighbor to the west cannot afford to be the site of conflict between rival powers.

Some 5,200 U.S. troops are stationed in Iraq, after the Iraqi parliament invited Washington to deploy forces to fight the Islamic State group in 2014.

Source: Fox News World

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Newmont shareholders OK $10 billion Goldcorp takeover, creating biggest gold producer

FILE PHOTO: Visitors pass the Newmont Mining Corporation booth during the PDAC convention in Toronto
FILE PHOTO: Visitors pass the Newmont Mining Corporation booth during the Prospectors and Developers Association of Canada (PDAC) annual convention in Toronto, Ontario, Canada March 4, 2019. REUTERS/Chris Helgren/File Photo

April 11, 2019

By Nichola Saminather

TORONTO (Reuters) – Newmont Mining shareholders on Thursday approved the company’s $10 billion takeover of Goldcorp Inc which is set to create the world’s biggest gold producer with assets across the Americas, Africa and Australia.

About 98 percent of votes at a special meeting were in support of Newmont’s proposal to issue new stock to fund its takeover of Goldcorp, the Denver-based company said in a statement. Goldcorp’s investors voted to approve the acquisition last week.

The deal, the biggest takeover in the gold sector’s history according to Refinitiv data, faced some initial opposition from Newmont investors who said it overly favored Goldcorp shareholders. But they rallied behind the proposal on the promise of a special dividend.

The 88-cent-per-share special dividend will be paid on May 1 to those who hold Newmont shares as of April 17, according to the statement.

Newmont shares were 0.7 percent lower at $36.01 in morning trading in New York, in line with the benchmark S&P/TSX Global Gold Index. Goldcorp shares slipped 0.26 percent to C$15.41 in Toronto.

“We thank Newmont’s shareholders for their overwhelming support for this compelling value creation opportunity as we build the world’s leading gold company,” Newmont Chief Executive Gary Goldberg said in the statement.

The new company, to be called Newmont Goldcorp, will overtake current market leader Barrick Gold Corp in annual production, churning out 6 million to 7 million ounces of gold annually over the next 10 years, compared with Barrick’s forecast of 5.1 million to 5.6 million ounces for 2019.

Newmont Goldcorp expects to shed between $1 billion and $1.5 billion of assets to focus on its most promising operations. This, combined with mines Barrick plans to sell in the wake of its acquisition of Randgold Resources, is expected by analysts to fuel a flurry of deals in a sector that has been focused on cutting costs rather than pursuing growth for several years.

Newmont’s acquisition of Goldcorp had faced several hurdles, beginning with Barrick’s hostile takeover bid for Newmont in February, which required it to abandon its deal with Goldcorp.

That was resolved through the creation of a joint venture of Newmont and Barrick’s operations in Nevada, which was estimated to create $4.7 billion in synergies.

(Reporting By Nichola Saminather; Editing by Bernadette Baum)

Source: OANN

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Karen Pence insists Pete Buttigieg misunderstands her family’s religious beliefs

Karen and Charlotte Pence have responded to Pete Buttigieg’s comments this week challenging “the Mike Pence’s of the world” for believing homosexuality is a choice.

While on tour for their book “Marlon Bundo’s A Day in the Life of the Vice President,” the pair appeared on The Brian Kilmeade Show on Fox Radio Tuesday, where they defended their support of religious freedom and Mayor Pete Buttigieg.

The South Bend Mayor, one of 20 Democrats to throw their hat into the ring for 2020, came after his former Indiana colleague Sunday saying: “If me being gay was a choice, it was made far, far above my pay grade” and “that’s the thing that I wish the Mike Pence’s of the world would understand - that if you got a problem with who I am-  your problem is not with me, your quarrel sir, is with my creator.”

PETE BUTTIGIEG, THE MAYOR WHO WOULD BE PRESIDENT, SEES SURGE: 'IT'S EXTRAORDINARY'

Making a direct reference to her new book, Karen emphasized that Buttigieg was misunderstanding what the Pence family and other religious supporters believe.

“I think in our country we need to understand you shouldn’t be attacked for what your religious beliefs are and I think kids need to learn that at a young age that this is okay what faith people have, we don’t attack them for their faith.”

Karen defended her husband Tuesday by saying the two Indiana political figures, “really have always had a great relationship.”

PETE BUTTIGIEG NOW REGRETS SAYING 'ALL LIVES MATTER'

In 2015, after the Mayor came out as gay, the Vice President responded to the news with praise.

“I hold Mayor Buttigieg in the highest regard and we have a great working relationship and I see him as a dedicated public servant and a patriot.”

“I think it’s helping Pete to get some notoriety by saying that about the Vice President,” Karen told listeners.

Karen and Charlotte argued that the Mayor’s comments were going against what this country’s religious freedoms were built on.

“Religious liberty also means that you can believe in god or you cannot believe in God - you can believe whatever you want and you shouldn’t be afraid being persecuted for that,” Charlotte added.

Buttigieg has been critical of Pence in the past saying during a CNN town hall last month, “How could Pence allow himself to become a cheerleader of the porn star presidency?”

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Vice President Pence has not yet responded to Buttigieg’s most recent comments.

Source: Fox News Politics

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Daimler, BMW to invest more than 1 billion euro in mobility services

Shareholders look at Mercendes-Benz cars during Daimler annual shareholder meeting in Berlin
FILE PHOTO: Shareholders look at Mercendes-Benz cars during the Daimler annual shareholder meeting in Berlin April 10, 2013. REUTERS/Fabrizio Bensch

February 22, 2019

BERLIN (Reuters) – German carmakers Daimler and BMW deepened their cooperation on Friday by unveiling a combined ride-hailing, parking and electric car charging business to counter emerging rivals like Uber from the United States.

The luxury car manufacturers said they have earmarked more than 1 billion euros ($1.13 billion) to expand their mobility services business as carmakers move beyond manufacturing and selling cars, toward a pay-per-minute system based on vehicle usage.

Daimler’s Car2Go car-sharing business will be combined with BMW’s DriveNow, ParkNow and ChargeNow businesses, with both carmakers holding 50 percent stake in the venture.

(Reporting by Irene Presinger; Writing by Edward Taylor; Editing by Ludwig Burger)

Source: OANN

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UK investor body to apply red warning if a company’s board lacks women

FILE PHOTO: People cast long shadows in the winter sunlight as they walk across a plaza in the Canary Wharf financial district of London
FILE PHOTO: People cast long shadows in the winter sunlight as they walk across a plaza in the Canary Wharf financial district of London, Britain, January 17, 2018. REUTERS/Dylan Martinez/File Photo

February 21, 2019

LONDON (Reuters) – Britain’s top companies face a red warning if they don’t have more than one woman on their board, the Investment Association said on Thursday, adding to pressure for more female representation at top levels of management.

The body which represents big asset managers said it was expanding its traffic light system which guides big investors on whether a company is complying with best practice in areas of governance such as executive pay.

The IA said it would apply a red alert to a top 350 listed company if there are none or only one woman on the board

Ratings on all aspects of a company’s governance are done three weeks before its annual shareholders’ meeting. Currently there are no red tops related to the number of women on boards, but some are expected, an IA spokesman said, without giving any further detail.

A red top represents the highest level of warning and is reserved for companies where shareholders should have the most serious concerns, the IA said, though it has no formal power over how investors vote on company policies.

An amber top would be applied where there is more than one woman, but less than 25 percent of the board are women.

Repeated calls for more women on boards have been made in recent years and in 2011 for instance a government report said companies in the FTSE 100 should aim for at least 25 percent female board member representation by 2015, yet progress has been slow.

At the highest chief executive level a study released in 2018 on International Women’s Day found women CEOs in the FTSE 100 were outnumbered by chiefs called David.

The IA also said it was making its grading of company pension arrangements for executives more stringent.

A company will be “red topped” if it does not explicitly state that any new executive director will have their pension contributions set in line with the majority of the workforce.

The aim is to stop pensions being used as a mechanism for increasing total pay.

(Reporting by Huw Jones; Editing by David Holmes)

Source: OANN

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Herman Cain Blackmailed With Political Revenge Porn By Gloria Allred Client

A woman who claims to have had an affair with former Republican presidential candidate Herman Cain got her wishes after threatening to publicly depict his genitals if he didn’t withdraw his name from consideration for the Federal Reserve Board.

“I ask Herman Cain, if I never had a sexual relationship with you, how would I be in a position to describe parts of your body that are not visible?” Cain’s accuser Ginger White asked on Thursday.

“It’s time for you, Herman, to quit,” White continued. “You are a liar and you don’t deserve the public’s confidence in such an important position.”

The comments were made during a Manhattan press conference with White’s high-profile lawyer Gloria Allred, who frequently represents women accusing men of sexual misconduct.

Allred also called for Cain’s withdrawal, saying, “We call on Mr. Cain to do the right thing and spare all of us another bruising and painful confirmation hearing.”

Monday, Cain officially withdrew from Federal Reserve consideration after realizing he didn’t want to take a massive pay cut, according to a blog post he published at Western Journal.

“Without getting too specific about how big a pay cut this would be, let’s just say I’m pretty confident that if your boss told you to take a similar pay cut, you’d tell him where to go,” Cain explained.

“It was an honor to be considered,” he wrote. “Under different circumstances, I would like to have served.”

However, the timing of Cain’s withdrawal is suspicious at best as Fox News’ Tucker Carlson highlighted on his Monday night broadcast.

“To me, it looks like blackmail,” Carlson stated. “She’s saying ‘We’re going to depict your genitals if you don’t do what we want you to do, which is pull your name.’ And he clearly caved, understandably.”

Even Democrat strategist and University of Maryland professor Jason Nichols agreed that a dangerous precedent is being set by accepting a society where people can be blackmailed in this fashion.

“Do you want to live in a society where people can be blackmailed like that?” Tucker asked, to which Nichols replied, “No, and I would agree with that.”

Source: InfoWars

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain
FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo

April 26, 2019

(Reuters) – Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

In a regulatory filing, Uber set a target price range of $44-$50 per share for its IPO. The company will sell 180 million shares in the offering, with a further 27 million sold by insiders.

In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

(Reporting by Joshua Franklin; editing by Patrick Graham)

Source: OANN

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

Source: OANN

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

Source: OANN

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Source: InfoWars

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Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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