A newly released court order from the Foreign Intelligence Surveillance Court (FISA) found that the National Security Agency, under former President Obama, routinely violated American privacy protections while scouring through overseas intercepts and failed to disclose the extent of the problems until the final days before Donald Trump was elected president last fall.  In describing the violations, the FISA court said the illegal searches conducted by the NSA under Obama were “widespread” and created a “very serious Fourth Amendment issue.” These new discoveries come from a recently unsealed FISA court document dated April 26, 2017 and center around a hearing dated October 26, 2017, justRead More →

“Adam Smith: “In every country it always is and must be the interest of the great body of the people to buy whatever they want of those who sell it cheapest.”   So saving a penny by purchasing a cheaper imported product and causing your neighbor to become unemployed necessitating you to either subsidize his existence at a cost greater than your savings or watch him starve to death reducing your ability to protect your nation is in your own best interest?   Let’s assume a very expensive complicated product with many inputs of labor. A jumbo jet, a fighter jet, or a locomotive engine.Read More →

Authored by Cyril Widdershoven via OilPrice.com, Political instability in Saudi Arabia is growing as King Salman bin Abdulaziz begins to overhaul the Saudi government, putting a long list of family members into positions of influence while increasing the power of his son, Deputy Crown Prince Mohammad bin Salman. These actions have the potential to lead to a direct conflict with Crown Prince Mohammed bin Nayef. The expected internal power collision, predicted by many analysts, finally seems to be heating up. The real surprise, however, is that it is taking place while King Salman is still alive rather than during the succession period. King Salman’s royalRead More →

1. Venn Diagram of the Day (above). Inspired by the March 6, 2013 article Salon article titled “Hugo Chavez’s economic miracle” (by David Sirota), here’s a slice: Chavez became the bugaboo of American politics because his full-throated advocacy of socialism and redistributionism at once represented a fundamental critique of neoliberal economics, and also delivered some indisputably positive results. As I wrote more than 20 years ago: In the same way that a Ponzi scheme or chain letter initially succeeds but eventually collapses, socialism may show early signs of success. But any accomplishments quickly fade as the fundamental deficiencies of central planning emerge. It is theRead More →

Authored by Charles Hugh-Smith via OfTwoMinds blog, When “socialist” states have to impose finance-capital extremes that even exceed the financialization of nominally capitalist economies, it gives the lie to their claims of “socialism.” OK, so our collective eyes start glazing over when we see Marx and Orwell in the subject line, but refill your beverage and stay with me on this. We’re going to explore the premise that what’s called “socialism”–yes, Scandinavian-style socialism and its variants–is really nothing more than finance-capital state-cartel elitism that has done a better job of co-opting its debt-serfs than its state-cartel “capitalist” cronies. We have to start with the questionRead More →

Authored by Martin Armstrong via ArmstrongEconomics.com, The dwindling credit of Turkey and significant decline in its currency, has led to the new clever idea of confiscating gold with a smile. The Turkish Central Bank has come up with an idea of how to confiscate private gold while pretending they are helping you earn more money. Their objective is to make the private gold stocks of the citizens available to the financial system for themselves, but how to sell that to the people? The Turkish central bank is launching two new investment opportunities for physical gold, according to reports in the Daily Sabah. They are issuingRead More →

China Bans North Korean Coal! In a show of solidarity with the U.S. against North Korea, China has stopped buying coal from the communist regime after last week’s missile test. Now, they’re importing more coal from the United States. This decision comes after President Trump met with Chinese President Xi Jinping at his Mar-a-Lago resort in Florida last week, where the administration said North Korea’s missile tests would be a top priority in the talks, according to a report in the Washington Examiner. On Tuesday, it was reported that “China’s customs department ordered all companies that receive imports from North Korea to immediately return all coal cargoes,Read More →

Authored by Charles Hugh-Smith via OfTwoMinds blog, Where’s the growth going to come from as the dominant generation makes less, borrows less, spends less, saves more and turns away from long commutes, malls and suburban living and abandons the worship of private vehicles? If anything defined the postwar economy between 1946 and 1999, it was the exodus of the middle class from cities to suburbs and the glorification of what Jim Kunstler calls Happy Motoring: freeways, cars and trucks, ten lanes of private vehicles, the vast majority of which are transporting one person. Ol’ 55 (freeway cars and trucks) (written by Tom Waits, performed byRead More →

Authored by Charles Hugh-Smith via OfTwoMinds blog, Trying to reduce the carefully choreographed drama to one stage and one audience risks misunderstanding the signal. It seems many media observers are confused by events in Syria and the swirl of competing narratives. Did the Swamp drain Trump? Did the Neocons succeed in forcing Trump to follow their lead? Is the U.S. ramping up yet another endless war? Consider the possibility that none of these narratives actually get to the heart of what’s going on. To make sense of all this, we’re going to have to delve into topics far below today’s headlines. I think Ilargi (TheRead More →

Authored by Lance Roberts via RealInvestmentAdvice.com, There is a really big crisis coming. Think about it this way. After 8 years and a 230% stock market advance the pension funds of Dallas, Chicago, and Houston are in severe trouble. But it isn’t just these municipalities that are in trouble, but also most of the public and private pensions that still operate in the country today. Currently, many pension funds, like the one in Houston, are scrambling to slightly lower return rates, issue debt, raise taxes or increase contribution limits to fill some of the gaping holes of underfunded liabilities in their plans. The hope isRead More →

Roger Bate Western regulators have found evidence of it, scholars unearthed empirical support for it, but now even the lead lobbyist for its industry admits it; most Indian medicines are not equivalent to the medicines they copy. People walk past a chemist shop at a market in Mumbai, India, June 24, 2014. REUTERS/Danish Siddiqui. DG Shah, the head of the Indian Pharmaceutical Alliance has written an eye-opening column on the many failings of India’s laws and medicine. As Shah explains, Indian law stipulates that products launched within four years of first approval are required to establish bioequivalence. But after four years, any manufacture can launchRead More →

Once again it appears that Trump was right: the conspiracy theory that a close Obama associate worked to “unmask” the Trump team, resulting in the ongoing media spectacle over “collusion” between Trump and the Kremlin, has been confirmed, first by Mike Cernovich, and now by Bloomberg itself.   As noted last night, Journalist and author Mike Cernovich dropped an exclusive bombshell – naming Obama’s National Security Advisor Susan Rice as the official responsible for the ‘unmasking’ of the incoming Trump team during ‘incidental’ surveillance. This was apparently discovered after the White House Counsel’s office reviewed Rice’s document log requests: The reports Rice requested to see areRead More →

Hillary Plans On Setting A Reporter Straight…. Recently released Huma Abedin State Department emails – acquired by Judicial Watch via FOIA request, reveal Clinton State Department staff planning to summon New York Times reporter David Brooks for an “OTR” (off the record) conversation over a “shot” he took at Hillary in a Feburary 2010 article. This isn’t the first time we’ve learned of the Democrat apparatus wrapping their tentacles around the MSM, and it’s the second time in weeks Judicial Watch has delivered a bombshell. They’re doing good work. In summary; Hillary Clinton – code named “Evergreen,” fired off an email on February 9th, 2010 to advisors Philippe Reines and Jake Sullivan regarding an articleRead More →

by Tyler Durden Apr 1, 2017 7:09 PM The Russian central bank opened its first overseas office in Beijing on March 14, marking a step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system, and to phase-in a gold-backed standard of trade. According to the South China Morning Post the new office was part of agreements made between the two neighbours “to seek stronger economic ties” since the West brought in sanctions against Russia over the Ukraine crisis and the oil-price slump hit the Russian economy. According to Dmitry Skobelkin, the deputy governor of the Central Bank ofRead More →

Evelyn Farkas admits that Trump Team was under Surveillance, “wiretapped” by Obama Administration!!!! EVELYN FARKAS: …that the Trump folks, if they found out how we knew what we knew about their, the staff, the Trump staff’s dealing with Russians, that they would try to compromise those sources and methods, meaning we would no longer have access to that intelligence. So I became very worried, because not enough was coming out into the open, and I knew that there was more. We have very good intelligence on Russia. So then I had talked to some of my former colleagues, and I knew that they were tryingRead More →

This month, Harvard Ph.D. Jerome Corsi of InfoWars (@jerome_corsi) and a CPA “who worked for two years for a major U.S. accounting firm as an outside auditor for Freddie Mac,” confirmed a 2012 scheme hatched by the Obama administration to funnel hundreds of billions in dividends from Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac to prop up the failing Obamacare program – by paying subsidies to insurers to remain in the system. In fact, House Republicans actually sued the Obama Administration in 2014 over the fact that the subsidies to insurers weren’t appropriated by congress and won, which the Obama administration appealed. In 2014, House Republicans sued the Obama administration over the constitutionality ofRead More →

Authored by Don Quijones, Spain & Mexico, editor at Wolf Street Here’s Why Italy’s Banking Crisis Has Gone Off the Radar For a country that is on the brink of a gargantuan public bailout of its toxic-loan riddled banking sector, or failing that, a full-blown financial crisis that could bring down the European financial system, things are eerily quiet in Italy these days. It’s almost as if the more serious the crisis gets, the less we hear about it — otherwise, investors and voters might get spooked. And elections are coming up. But an article published in the financial section of Italian daily Il Sole laysRead More →

As the Atlanta Journal Constitution points out today, the Trump administration has until May 22nd to decide whether they will continue to pursue the Obama administration’s appeal to provide subsidies to insurers who participate in the federal exchanges. Of course, any decision to remove those subsidies would likely result in yet another massive round of premium hikes and further withdrawals from the already crippled exchanges where an astounding number of counties across the country have already been cut to just 1 health insurance provider.  And, as we’ve pointed out before, higher rates = lower participation = deterioration of risk pool = higher rates….and the cycleRead More →

Since 1985, the state has provided healthcare for retired teachers through a plan called TRS Care. As of last year, 261,500 retired teachers, dependents and their surviving spouses, according to the State Comptroller. But in recent years medical costs have risen higher than what the state contributes to TRS Care leaving the fund with more than a billion dollar shortfall now. “At its creation in 1985, TRS-Care was expected to remain solvent for just 10 years, with the understanding that additional funding or benefit changes would be necessary to maintain the plan. Its funding formula hasn’t changed since 2005, however, and hasn’t kept pace withRead More →

John Podesta, former Secretary of State Hillary Clinton’s 2016 national campaign chairman, may have violated federal law by failing to disclose the receipt of 75,000 shares of stock from a Kremlin-financed company when he joined the Obama White House in 2014, according to the Daily Caller News Foundation’s Investigative Group. Joule Unlimited Technologies — financed in part by a Russian firm —  originally awarded Podesta 100,000 shares of stock options when in 2010 he joined that board along with its Dutch-based entities: Joule Global Holdings, BV and the Stichting Joule Global Foundation. When Podesta announced his departure from the Joule board in January 2014 toRead More →