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Source: InfoWars

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Italy’s Salvini urges La Scala to snub Saudi cash

FILE PHOTO: People stand in front of the La Scala opera house during the opening of the 2017-2018 opera season in Milan
FILE PHOTO: People stand in front of the La Scala opera house during the opening of the 2017-2018 opera season in Milan, Italy December 7, 2017. REUTERS/Stefano Rellandini/File Photo

March 11, 2019

MILAN (Reuters) – Italy’s deputy prime minister, Matteo Salvini, urged Milan’s La Scala opera house on Monday to reject an offer from Saudi Arabia to pump funds into the theater.

The Saudi culture ministry has offered a five-year partnership deal with La Scala worth 15 million euros ($17 million).

The proposal has set off a furious row, with human rights groups and some politicians arguing that one of Italy’s most prestigious cultural institutions should shun money from Saudi Arabia, a deeply conservative Muslim kingdom accused of repeated rights abuses.

Salvini told reporters he did not want the partnership to go ahead.

“I would prefer for some people not to be there and for La Scala to be free, independent and autonomous,” he said. “If the Swiss want to invest in La Scala, we would not have a problem.”

It is the second time this year that Salvini, who heads the far-right League party, has taken aim at Saudi Arabia.

In January he condemned as “disgusting” restrictions imposed on women hoping to see the final of the Italian Supercoppa, which was staged at the start of the year in Saudi.

The La Scala board is due to discuss the Saudi proposal at a meeting on March 18.

($1 = 0.8900 euros)

(Reporting by Sara Rossi; Writing by Crispian Balmer; Editing by Robin Pomeroy)

Source: OANN

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Democratic strategist: Dems may yet ‘find a way to not win’ 2020

Democratic strategist Zach Friend said Thursday that the party's presidential candidates may yet “find a way not to win” the 2020 election.

Appearing on "Your World with Neil Cavuto,” he said, "This is the one that I think is a very winnable race for Democrats and we might still find a way to not win it based on some of the things that we're doing,” Friend said.

BUTTIGIEG SURGES TO THIRD PLACE IN NEW NH 2020 DEMS POLL

Friend, who worked for the Barack Obama and John Kerry presidential campaigns, was discussing candidates who've been pushing for tax hikes to pay for costly government programs.

Cavuto asked Friend which candidate he had “hooked up with.”

Friend said he hadn’t aligned himself yet.

In another exchange, he voiced his opinion that were Obama running today, a win would be far from assured. “I've got to say this, that I don't think that Barack Obama would get through the 2020 primary,” Friend said.

“I think the circular firing squad comment he made is spot on,” Friend said.

BARACK OBAMA STILL BELIEVES BIDEN WOULD BE 'AN EXCELLENT PRESIDENT' AMID INAPPROPRIATE TOUCHING ALLEGATIONS: REPORT

This past Saturday in Germany, Obama lamented what he saw as a lack of compromise within the party at a crucial time, when Dems are trying to recapture the White House. "One of the things I do worry about sometimes among progressives in the United States … is a certain kind of rigidity where we say, 'Uh, I’m sorry, this is how it’s going to be,'" Obama said. "And then we start sometimes creating what’s called a 'circular firing squad,' where you start shooting at your allies because one of them has strayed from purity on the issues.

"And when that happens, typically the overall effort and movement weakens," Obama added during a town hall event in Berlin.

Source: Fox News Politics

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Fed Policies Distort Market, Create Bubbles, Debt

How are all of these unprofitable companies staying afloat and even making big splashes with media-hyped IPOs?

Peter Schiff addressed this question, along with the supposed “failure” of capitalism in his most recent podcast.

The rideshare company Lyft had its lowest close since going public yesterday (April 9). In fact, the company has only closed above its IPO price twice – the day it went public and last Friday. This probably shouldn’t shock anybody, given that the company has never turned a profit.

Meanwhile, social media company Pinterest is gearing up for its IPO with a lot of media hype. The company has been around since 2010. It’s never made any money either.

Peter asked a poignant question. What makes people think these companies will ever make any money?

“[Pinterest] has been around for 10 years. If they haven’t figured out how to make a profit yet, are they ever going to do it? Because at least in the frenzy of the dot-com mania, people were saying, ‘Look, the company hasn’t made a profit yet because it’s only been around for a year. But don’t worry because it’s got all of this explosive growth.’ You know, ‘We’re grabbing eyeballs,’ or whatever it was. But people were willing to bet the companies would eventually be profitable, and they didn’t have a lot of data to go on because the companies hadn’t even been in existence for very long before they were going public. It was a rush to the market. But now that you’ve got these companies that have been going on for 10 years — I mean, they’ve had 10 years at Pinterest to try to figure out how to make a profit and they haven’t done it.”

But as Peter pointed out, because of the easy-money policies of the Federal Reserve and the resulting availability of cheap capital, companies have been able to continue to operate even though they don’t make any money.

“A lot of companies are able to attract funding and stay in business that under a normal free market system – a capitalist system – they would have gone bankrupt.”

This is one of the unseen impacts of central bank monetary policy. It distorts the market.

(Photo by skeeze / pixabay)

Consider Pinterest. The company has a lot of employees. It consumes a lot of resources to operate its website – land, labor and capital. These are resources that could be put to some other use if they weren’t being consumed by Pinterest. So, how do you know whether these resources being put to their best use? In a capitalist system, profits provide that information. Profits signal that resources are being well-used. The lack of a profit tells us these resources are not being put to good use. If the lack of profit persists, the company goes under and frees up those resources for better uses.

As Peter put it, if a company can combine resources to produce a product and then sell it at a higher price then the resources that it consumed, it is adding value to the economy. The consumer gets more enjoyment out of that product then the resources consumed in producing it.

“You see, resources are scarce, but demand is unlimited. And the idea behind an economy is how to satisfy unlimited demand with limited resources. And resources that are utilized for one purpose are not available for another purpose. And if a company though is losing money, then the market is basically saying, ‘Hey, you’re destroying value. You’re creating products, but your customers don’t even value those products as much as the resources were worth that you used to make them.’”

If a company is creating value, it is rewarded with profits. If it is destroying value, it is punished by losses.

The Federal Reserve and its manipulation of the monetary system short-circuits this process. You end up with a misallocation of recourses and all kinds of asset bubbles — not to mention piles of debt.

Back to Pinterest:

“I think that if during these 10 years we had normal interest rates, if the Fed was not keeping interest rates artificially low, Pinterest would already be profitable right now, or they would be out of business … The Fed has been able to keep this company and a lot of other companies in business. And all of this gambling mentality where people are willing to buy money-losing companies is only there because of the casino-like mentality that has been created by the Federal Reserve and the perpetual supply of cheap money.”

Simply put – capitalism isn’t the problem. It’s government and central bank intervention that has failed us.

In this podcast, Peter goes on to break down comments by Ray Dalio about the supposed “failure” of capitalism.


Owen Shroyer presents a local news report from the Williamsburg neighborhood in Brooklyn, New York, where a “tight knit” community of Orthodox Jews are being forced to vaccinate with the measles. Is the U.S. government conducting, yet again, secret medical experiments on their own people?

Source: InfoWars

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Bank of Japan’s Kuroda says there is room for reducing interest rates: CNBC

FILE PHOTO : Bank of Japan Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo
FILE PHOTO : Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan October 31, 2018. REUTERS/Issei Kato/File Photo

April 15, 2019

(Reuters) – Bank of Japan Governor Haruhiko Kuroda told CNBC that there is room for reducing long-term and short-term interest rates.

“I think there (is) still some room for further monetary easing if needed,” he said, adding that it isn’t necessary at this stage.

Kuroda also said that the Japanese economy has “slightly slowed down”, partly because Japan’s exports to China have become “somewhat” weak.

(Reporting by Shubham Kalia in Bengaluru; Editing by Shailesh Kuber)

Source: OANN

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Exclusive: Russia, China tells U.N. they sent home over half North Korean workers in 2018

The North Korea flag flutters next to concertina wire at the North Korean embassy in Kuala Lumpur
The North Korea flag flutters next to concertina wire at the North Korean embassy in Kuala Lumpur, Malaysia March 9, 2017. REUTERS/Edgar Su

March 26, 2019

By Michelle Nichols

UNITED NATIONS (Reuters) – Russia sent home nearly two-thirds of some 30,000 North Koreans working there during 2018 and China repatriated more than half, but did not specify a figure, according to unpublished reports by Moscow and Beijing to the United Nations Security Council.

The one-page reports, seen by Reuters on Tuesday, were submitted to the council’s North Korea sanctions committee in compliance with a 2017 resolution that demanded the repatriation of all North Korean workers by the end of this year to stop them earning foreign currency for leader Kim Jong Un’s authorities.

The United States has said it believed Pyongyang was earning more than $500 million a year from nearly 100,000 workers abroad, of which some 80,000 were in China and 30,000 in Russia.

The U.N. Security Council has steadily toughened sanctions on North Korea since 2006 to choke off funding for Pyongyang’s nuclear and ballistic missile programs. U.S. President Donald Trump and North Korean leader Kim Jong Un have met twice in the past year in a bid to negotiate denuclearization.

The December 2017 U.N. resolution required countries to report to the sanctions committee this month on all North Korean workers repatriated during 2018 “including an explanation of why less than half of such” workers were repatriated if applicable.

Russia reported that in 2018 the number of North Koreans “with valid work permits in the Russian Federation decreased from 30,023 to 11,490 persons.” Key North Korean ally China said it had repatriated “more than half of the total DPRK nationals earning income.”

“China will continue earnestly implementing its international obligations, carry out the repatriation work in an orderly manner and complete the repatriation on time,” wrote China’s mission to the United Nations, adding that it did not want the report to be made public.

In 2015, U.N. human rights investigator Marzuki Darusman said that the North Koreans abroad worked mainly in mining, logging, textile and construction. The reports submitted by Russia and China to the sanctions committee did not specify what industries had employed the North Koreans.

New York-based Human Rights Watch said in a 2017 report that “the treatment of North Korean workers overseas falls short of international labor standards, with no right to freedom of association or expression, control by minders who limit freedom of movement and access to information from the outside world, long working hours and no right to refuse overtime.”

North Korea has said its laborers were working abroad legally and were not mistreated or forced to go.

(Reporting by Michelle Nichols; Editing by Michael Perry)

Source: OANN

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Waters’ layup lifts No. 3 seed LSU over Maryland

NCAA Basketball: NCAA Tournament-Second Round-Maryland vs LSU
Mar 23, 2019; Jacksonville, FL, USA; LSU Tigers guard Tremont Waters (3) fights for a loose ball with Maryland Terrapins forward Ricky Lindo Jr. (left) and guard Anthony Cowan Jr. (1) during the second half in the second round of the 2019 NCAA Tournament at Jacksonville Veterans Memorial Arena. The LSU Tigers won 69-67. Mandatory Credit: Matt Stamey-USA TODAY Sports

March 24, 2019

Tremont Waters made a tie-breaking layup with two seconds left as third-seeded LSU held off sixth-seeded Maryland 69-67 in an NCAA East Regional second-round game Saturday in Jacksonville, Fla.

Waters’ basket created the final separation in a tight game in which the score was tied six times in the last 6½ minutes. Defense dominated the game as both teams shot below 40 percent from the floor.

The Tigers (28-6), who edged 14th-seeded Yale 79-74 on Thursday, will face the winner of Saturday’s later game between No. 2 seed Michigan State and No. 10 seed Minnesota in a regional semifinal next weekend in Washington D.C.

Skylar Mays added 16 points for LSU, Naz Reid scored 13, Waters had 12 and Darius Days 10.

Jalen Smith scored 15 points, Aaron Wiggins and Anthony Cowan Jr. scored 11 each, Bruno Fernando had 10 points and 15 rebounds and Darryl Morsell scored 10 for the Terrapins (23-11).

Smith’s 3-pointer tied the score with 28 seconds left and the Tigers called timeout eight seconds later. Waters, a sophomore guard who is LSU’s leading scorer, drove to the basket and made a scoop shot.

LSU led by as many as 15 in the first half, nine at halftime and rebuilt the margin to 15 early in the second half.

Waters had two baskets and an assist among the Tigers’ first eight points before the Terps made a move.

Cowan made two 3-pointers during a 13-3 run that pulled Maryland within 49-44.

LSU made just one field goal during a span of more than six minutes after Reid’s three-point play increased the lead to 54-45.

The Terps went on a 12-1 run to grab a 57-55 lead before the score was tied four times.

Mays’ 3-pointer gave the Tigers a 67-64 lead with 40 seconds left, but Smith’s 3-pointer tied the score 12 seconds later.

Days, Javonte Smart and Kavell Bigby-Williams did most of the scoring as the Tigers opened a 30-15 lead.

LSU led by 15 once more before Wiggins made consecutive 3-pointers to cut the lead to 38-29 at halftime.

–Field Level Media

Source: OANN

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FILE PHOTO: Chevron's Michael Wirth speaks at Gastech, the world's biggest expo for the gas industry, in Chiba
FILE PHOTO: Chevron’s Michael Wirth speaks at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai

April 26, 2019

HOUSTON (Reuters) – Chevron Corp on Friday pushed back at the potential for a rival to break up its $33 billion deal for Anadarko Petroleum Corp, saying the two companies had already begun meetings on a merger plan.

Occidental Petroleum on Thursday sought to scuttle the proposed deal, submitting a higher, $38 billion cash-and-stock offer for Anadarko. Anadarko’s board said on Thursday it would evaluate the new proposal.

“I’ll just remind everyone that we’ve got a signed deal that has been approved by both boards and we’ve moving forward with integration planning,” said Chevron Chief Executive Michael Wirth on a conference call with analysts. He said a “sizeable” group of employees had already met.

Wirth declined to say whether Chevron would raise its offer in light of Occidental’s higher bid. Chevron has the ability revise the structure of its 75 percent stock, 25 percent cash bid, Chevron finance chief Pierre Breber said on the same call. “We could put more cash in if that’s what Anadarko wanted to do,” he said.

(Reporting by Gary McWilliams; Editing by James Dalgleish)

Source: OANN

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FILE PHOTO: Naqvi Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the WEF in Davos
FILE PHOTO: Arif Naqvi, Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 17, 2017. REUTERS/Ruben Sprich/File Photo

April 26, 2019

By Tom Arnold

LONDON (Reuters) – A London court case to extradite Arif Naqvi, founder of collapsed private equity firm Abraaj Group, to the United States on fraud charges was adjourned until May 24, a court official said on Friday.

Naqvi was remanded in custody until that date, the official said. A former managing partner of Dubai-based Abraaj, Sev Vettivetpillai, was released on conditional bail to appear again at Westminster Magistrates Court on June 12, the official said.

Under the U.S. charges, both men are accused of defrauding U.S. investors by inflating positions held by Abraaj in order to attract greater funds from them, causing them financial loss, the official said.

Vettivetpillai could not be reached for a comment.

Naqvi, in a statement released through a PR firm, has pleaded innocent.

The U.S. Securities and Exchange Commission alleges that Naqvi and his firm raised money for the Abraaj Growth Markets Health Fund, collecting more than $100 million over three years from U.S.-based charitable organizations and other U.S. investors.

Naqvi and Vettivetpillai were arrested in Britain earlier this month. Another executive, Mustafa Abdel-Wadood was arrested at a New York hotel, Assistant U.S. Attorney Andrea Griswold said at a hearing in Manhattan federal court on April 11.

Abdel-Wadood appeared at the Manhattan hearing and pleaded not guilty to securities fraud, wire fraud and conspiracy charges.

(Editing by Jane Merriman)

Source: OANN

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Former Vice President Joe Biden announces his 2020 candidacy
Former U.S. Vice President Joe Biden announces his candidacy for the Democratic presidential nomination in this still image taken from a video released April 25, 2019. BIDEN CAMPAIGN HANDOUT via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES

April 26, 2019

By James Oliphant

WASHINGTON (Reuters) – Former U.S. Vice President Joe Biden, in his first interview as a Democratic presidential candidate, said on Friday that he does not believe he treated law professor Anita Hill badly during the 1991 confirmation hearings for Supreme Court Justice Clarence Thomas.

Biden had joined the burgeoning 2020 Democratic field a day earlier.

Biden’s conduct during those hearings, when he was chairman of the U.S. Senate Judiciary Committee, became a renewed subject of controversy after the New York Times reported that Biden had called Hill earlier this month in the run-up to his presidential bid and that Hill was dissatisfied with Biden’s expression of regret.

Appearing on ABC’s “The View,” Biden largely defended his actions as a senator almost 30 years ago, saying he believed Hill’s allegations of sexual harassment levied at Thomas and tried to derail his confirmation.

Activists have long been unhappy that Hill was questioned in graphic detail by the all-white, all-male committee chaired by Biden.

“I’m sorry she was treated the way she was treated,” Biden said, but later, he asserted, “I don’t think I treated her badly. … How do you stop people from asking inflammatory questions?”

“There were a lot of mistakes made across the board and for those I apologize,” he said.

Biden praised Hill as “remarkable” and said she is “one of the reasons we have the #MeToo movement.”

Asked why he had not reached out to Hill earlier, Biden said he had previously publicly stated he had regrets about her treatment and that he “didn’t want to quote invade her space.”

That seemed to be a reference to another controversy that looms over Biden’s presidential run: allegations by several women that he made them uncomfortable by touching them at political events.

Biden also addressed that criticism, saying he was now more “cognizant” about a woman’s “private space.” But he maintained that he had been “trying to bring solace.”

He suggested he was still trying to sort out the guidelines for his conduct going forward.

“I should be able to read better,” he said. “I have to be more careful.”

Pressed by the show’s panel for an apology to his accusers, Biden would not entirely capitulate.

“So, I invaded your space,” he replied. “I mean, I’m sorry this happened. But I’m not sorry in a sense that I think I did anything that was intentionally designed to do anything wrong or be inappropriate.”

Biden, 76, served as former President Barack Obama’s vice president for two terms. He is competing with 19 others for the Democratic presidential nomination and the chance to likely face President Donald Trump next year in the general election.

His first public event as a presidential candidate is scheduled for Monday in Pittsburgh.

(Reporting by James Oliphant; editing by Jonathan Oatis)

Source: OANN

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FILE PHOTO: The logo of Tesla is seen in Taipei
FILE PHOTO: The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. REUTERS/Tyrone Siu/File Photo

April 26, 2019

By Noel Randewich

SAN FRANCISCO (Reuters) – Tesla Inc’s stock slumped over 4% on Friday to its lowest price in two years, rounding out a rough week that included worse-than-expected quarterly results and a pitch by Chief Executive Elon Musk on autonomous cars that failed to win over investors.

With investors betting Tesla will soon raise capital, the stock has fallen 13% for the week to its lowest level since January 2017, before the launch of the Model 3 sedan aimed at making the electric car maker profitable.

One positive development for Tesla: a U.S. District Court judge on Friday granted a request by Musk and the Securities and Exchange Commission for a second extension to resolve a dispute over Musk’s use of Twitter.

On Wednesday, Tesla posted a worse-than-expected loss of $702 million for the March quarter. Musk said Tesla would return to profit in the third quarter and that there was “some merit” to raising capital.

Musk is still battling to convince investors that demand for the Model 3, the company’s first car aimed at the mass consumer market, is “insanely” high, and that it can be delivered efficiently to customers around the world.

Tesla ended its first quarter with $2.2 billion, down from $3.7 billion in the prior quarter, and the company is planning expansions including a Shanghai factory, an upcoming Model Y SUV, and other projects.

(GRAPHIC: Tesla’s cash – https://tmsnrt.rs/2DyJjX6)

On Monday, Musk hosted a self-driving event, where he predicted Tesla would have over a million autonomous vehicles by next year. Some analysts perceived the presentation as a way to deflect attention from questions about demand, margin pressure, increasing competition and even Musk’s ongoing battle with U.S. regulators.

Tesla’s stock has now fallen 29 percent in 2019 and the company’s market capitalization has declined to $41 billion from $63 billion in mid-December.

(GRAPHIC: Tesla’s declining market cap – https://tmsnrt.rs/2Dwd62r)

Analysts now expect Tesla’s revenue to expand 19% in 2019, compared with 83% growth in 2018 and 68% growth in 2017, according to Refinitiv.

Following Tesla’s quarterly report, 12 analysts recommend selling the stock, while 11 recommend buying and eight are neutral. The median analyst price target is $275, up 16% from the stock’s current price of $236. Berenberg analyst Alexander Haissl has the most optimistic price target, at $500, while Cowen and Company’s Jeffrey Osborne has the lowest, at $160, according to Refinitiv.

(Reporting by Noel Randewich; editing by Jonathan Oatis)

Source: OANN

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Former CIA Director John Brennan pushed back Friday on President Trump’s charge that he knew about or participated in an attempt to overthrow the American government.

“I don’t think it’s surprising at all that we continue to hear the sociopathic ramblings of Mr. Trump claiming that there was this effort to try to prevent him from being elected or to unseat him,” he told MSNBC’s Hallie Jackson.

Brennan was reacting to comments Trump made during an interview with Sean Hannity on Thursday night.

Trump specifically criticized Brennan, along with former Director of National Intelligence James Clapper, former FBI Director James Comey, and former Deputy FBI Director Andrew McCabe, in the fiery interview.

ROSENSTEIN SLAMS OBAMA ADMINISTRATION FOR CHOOSING ‘NOT TO PUBLICIZE FULL STORY’ OF RUSSIA HACKING

His comments followed the release of Special Counsel Robert Mueller‘s report which stopped short of accusing the president of either obstruction of justice or collusion with Russia.

Brennan added he welcomed further investigation into his and other officials’ conduct while they served in government. “I’ve testified in front of Congress … Absolutely, I’ll do it again,” he said.

Brennan also disputed Sen. Rand Paul’s, R-Ky., claim that he “insisted that the unverified and fake Steele dossier be included in the Intelligence Report.”

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Journalist Bob Woodward similarly promoted the idea that the CIA pushed to include the Steele dossier in the intelligence community assessment surrounding Russian election interference.

“That’s absolutely incorrect and 180 degrees from the truth. It was CIA that was pushing not to have it included and not to be taken into account at all in that intelligence community assessment.

Source: Fox News Politics

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