After a brief hiatus from the ongoing currency wars, China fired another salvo at The Fed tonight by devaluing the Yuan fix to 6.5693 – its weakest against the USD since March 2011. After eight days higher in a row for The USD Index, it seems PBOC has turned its currency liberalization plan off, stabilizing the broad Renminbi basket (which has been steadily devalued) and turning its attention to devaluing against the USD. Having unleashed turmoil in August (pre-Sept FOMC) and January (post Dec rate-hike), it appears the rising rate-hike probabilities jawboned by The Fed are decidedly disagreeable to “authoritative persons” in China.   TheRead More →

ObamaCare Isn’t Working – These Five Charts Show Why   Submitted by Melissa Quinn via TheDailySignal.com, Six years ago, President Barack Obama signed the Patient Protection and Affordable Care Act into law. Since then, Americans have seen their premiums increase, a dozen nonprofit insurers have closed their doors and the number of people on the Medicaid rolls has expanded. Americans nationwide have both praised and cursed the law since the federal and state-run exchanges launched in October 2013. Many credit the president with giving them access to coverage—the result of Obamacare’s provision prohibiting insurers from denying coverage based on pre-existing conditions. Others, meanwhile, have reportedRead More →

The War On Cash Is A War On Your Freedom To Opt Out Submitted by Charles Hugh-Smith of OfTwoMinds blog, Cash is a proxy for the freedom to maintain some privacy in an era of Big Brother repression, surveillance and the suppression of dissent. I’ve covered the war on cash i.e. the proposed elimination of cash, a number of times, for example, The War On Cash: Officially Sanctioned Theft (June 13, 2015) Our first question should be: just how big a share of our financial universe is cash? The answer is: vanishingly small. Look at this chart of total credit in the U.S. economy–$63 trillion–andRead More →

“Justice Department attorneys misled the court about when the Department of Homeland Security would begin implementing President Obama’s executive order granting “deferred action” to illegal immigrants whose children are citizens. In doing so, they tricked the 26 states who filed a lawsuit into “foregoing a request for a temporary restraining order,” according to the judge. The facts of the deception are not in doubt, Hanen emphasized. “[DOJ] has now admitted making statements that clearly did not match the facts,” he said in the May 19 opinion, first noted by the National Law Journal. “It has admitted that the lawyers who made these statements had knowledgeRead More →

      “Follow the money.” That telling phrase, which has come to summarize the Watergate scandal, has been a part of the lexicon since 1976. It’s shorthand for political corruption: At what point do “contributions” become bribes, “constituent services” turn into quid pro quos and “charities” become slush funds? Ronald Reagan was severely criticized in 1989 when, after he left office, he was paid $2 million for a couple of speeches in Japan. “The founding fathers would have been stunned that an occupant of the highest office in this land turned it into bucks,” sniffed a Columbia professor. Modal TriggerBill and Hillary Clinton collectedRead More →

Visit and Like http://thethoughtcrucible.com   Never mind the brainwashing liberal bias that has left our children unsure of what bathroom to use. They are failing to prepare our children to compete in the global economy they so gladly embrace. Their only answer to any problem is more money and that clearly does not work.        Read More →

Goldman Sachs Group Inc. awarded Chief Executive Officer Lloyd C. Blankfein $23 million in salary and cash and stock bonuses for 2015, down 4.2 percent from a year earlier, after profit slumped and shares lagged behind peers. The total excludes a long-term incentive award, which is disclosed later in the year. Blankfein, who also serves as chairman, received restricted shares valued at $14.7 million, half of it tied to future performance, the New York-based company said Friday in a filing. Blankfein, 61, typically receives about 30 percent of his total bonus in cash, making that portion about $6.3 million, a person with knowledge of theRead More →

Now that assets seized by federal law enforcement agencies exceed burglaries, bipartisan bill aims to stop the abuse Carpe Diem   Christopher Ingraham wrote this on the WaPo’s Wonkblog last November 23 in his article “Law enforcement took more stuff from people than burglars did last year“: Here’s an interesting factoid about contemporary policing: In 2014, for the first time ever, law enforcement officers took more property from American citizens than burglars did (see chart above). Officers can take cash and property from people without convicting or even charging them with a crime — yes, really! — through the highly controversial practice known as civil asset forfeiture.Read More →

Illinois State Workers, Highest Paid In Nation, Demand Up To 29% Wage Hikes   Submitted by Michael Shedlock via MishTalk.com, Illinois state workers, are the highest paid in the nation. Yet, despite the fact that Illinois is for all practical purposes insolvent, the AFSCME union demands four-year raises ranging from 11.5 to 29 percent, overtime after 37.5 hours of work per week, five weeks of vacation and enhanced health care coverage. AFSCME workers already get platinum healthcare benefits that would make nearly everyone in the country green with envy. This is a guest post from Ted Dabrowski at the Illinois Policy Institute, of which IRead More →

Submitted by Tyler Durden on 05/19/2016 14:48 -0400 In yet another development in the train wreck that is Obamacare, while we know that the legislation is failing individuals and businesses, the government is now failing to live up to its obligations made to the insurers who chose to participate in the healthcare exchanges. The Affordable Care Act set up what is called a risk-corridor program to entice insurers to participate. Essentially the program limits the risk of loss an insurer can take due to its participation in the healthcare exchange by being reimbursed for part of the loss. The program works the other way asRead More →