British Members of Parliament will vote on Theresa May’s sketchy Brexit deal on Tuesday 11th of December. The U.K. House of Commons is set to debate the pact for five days. More than 100 members of parliament have indicated they could vote against the deal.
Nigel Farage appears on Fox News to discuss the deal that Theresa May has constructed.
The Ukraine/Crimea/Russia crisis flares up again today as Russia blockaded the Sea of Azov then fired upon three Ukrainian naval ships who attempted passage Sunday. After wounding several sailors, the Russians then seized the three boats; igniting another crisis between the two countries and initiating an emergency U.N. Security Council meeting tomorrow.
The EU and NATO alliance will likely call for U.S. assisted military intervention of some sort. The structure of the Ukrainian government is full of western intelligence assets; and once again we can expect the professionally republican and professionally democrat to unite in common cause and demand we go to war….
Russian jet fighters fly over a bridge connecting the Russian mainland with the Crimean Peninsula with a cargo ship beneath it after three Ukrainian navy vessels was stopped by Russia from entering the Sea of Azov via the Kerch Strait in the Black Sea, Crimea November 25, 2018. REUTERS/Pavlishak Alexey
(Reuters) Russia’s FSB security service said early on Monday its border patrol boats had seized the Ukrainian naval vessels in the Black Sea and used weapons to force them to stop, Russian news agencies reported.
The FSB said it had been forced to act because the ships – two small Ukrainian armored artillery vessels and a tug boat – had illegally entered its territorial waters, attempted illegal actions, and ignored warnings to stop while maneuvering dangerously.
“Weapons were used with the aim of forcibly stopping the Ukrainian warships,” the FSB said in a statement circulated to Russian state media.
“As a result, all three Ukrainian naval vessels were seized in the Russian Federation’s territorial waters in the Black Sea.”
The FSB said three Ukrainian sailors were wounded in the incident and were getting medical care. Their lives were not in danger, it said.
[…] Ukrainian President Petro Poroshenko met his top military and security chiefs. Poroshenko said he would propose that parliament impose martial law.
Russia annexed Crimea in 2014 and then built a giant road bridge linking it to southern Russia that straddles the Kerch Strait – a narrow stretch of water that links the Black Sea to the Sea of Azov, which is home to two of Ukraine’s most important ports.
Russia’s control of Crimea, where its Black Sea Fleet is based, and of the bridge mean it is able to control shipping flows.
The crisis began on Sunday after Russia stopped the three Ukrainian ships from entering the Sea of Azov by placing a cargo ship beneath the bridge. (Read More)
The Trump Revolution is unfolding everywhere. It is NOT a philosophy left or right – it is just drain-the-swamp and throw out whoever is in power. The Labor government in the Australian state of Victoria won an unexpectedly large majority in an election. We will also see this manifest into the national elections warning that Australia’s ruling conservative government will be in trouble in six months. Victoria is Australia’s second most populous state, and the poll is seen as a warning of voter sentiment towards the nation’s conservative Liberal and National government.
The protests in France over rising fuel costs and a general discontent with President Emmanuel Macron’s economic policies as the Euro declines resulted in them setting things on fire and police firing tear gas into the crowds. The police were also firing tear water cannons clashed with protesters in addition to tear gas. The protesters set a trailer on fire which exploded on the Champs Elysees. The protesters even attempted to attack the fire fighters. We are looking at the upcoming elections in France are going to be very dramatic
Significant riots broke out today amid backlash to the economic policies of French President Emmanuel Macron. Fueled by resentment over a new gasoline tax, thousand of Parisians took to the streets to protest. [See Daily Mail Article Here]
(Via Reuters) […] The unrest is a dilemma for Macron who casts himself as a champion against climate change but has been derided as out of touch with common folk and is fighting a slump in popularity.
While the movement, which has no leader, began as a backlash against higher fuel prices, it has tapped into broader frustration at the sense of a squeeze on household spending power under Macron’s 18-month-old government.
Since coming to power, Macron has seen off trade union and street demonstrations against his changes to the labor rules, and overhauled the heavily indebted state rail operator. Foreign investors have largely cheered his pro-business administration. (read more)
QUESTION: Mr. Armstrong; You mentioned that we should expect a further decline in the economy. Do you have a target for that decline?
Thank you
KT
ANSWER: The world economy has been in a prolonged economic decline as taxes have risen and regulation has expanded. As government hunts money everywhere, they are bringing the world economy into a major decline since the 1970s. The bottom in nominal terms appears to be 2025. However, in REAL TERMS, we are looking for a decline into 2035.8
QUESTION: You mentioned that Goldman Sachs can take down the entire banking sector. Do you see this correlating in the future?
JF
ANSWER: Here is Goldman Sachs and JP Morgan. The first thing you will notice is that JP Morgan has been in a REAL bull market. Goldman has not. I am a firm believer that the markets instinctively forecast major future trends if you know how to read them. Now, look at the arrays. They both are showing the major target as the 4th quarter of 2020. JP Morgan shows the 2nd quarter of 2019 as a turning point. Look at the pattern difference with Goldman Sachs. There is no question that Goldman will do whatever it takes to try to survive calling in every political marker possible. However, because of this Malaysia scandal is worldwide involving four countries, pulling this off is not going to be easy. Its huge fees that were 10x that of any other firm to do this deal smells of something wrong. I know brokers who were denied the right to even bid on this project.
The bottom line is clear. Just go by the Reversals. Not even Goldman Sachs can overcome them.
A Greek cleaning lady was sentenced to 10 years in prison for lying about her elementary school record in a court ruling. Her sentence has outraged the people and rightly so. The 53-year-old woman had worked at a publicly-funded nursery for 15 years until a review in 2014 revealed she had doctored a certificate documenting her primary education. The judge held that the sentence was based upon defrauding the public. What about the politicians who conspired with Goldman Sachs to hide losses that have really defrauded the Greek people?
The Abu Dhabi sovereign wealth fund sued Goldman Sachs on the Pi Target, Wednesday, November 21st, 2018, for allegedly conspiring against the Middle Eastern fund to further a criminal scheme by Malaysia’s scandal-plagued 1MDB. The suit, filed in a New York court on behalf of Abu Dhabi’s International Petroleum Investment Company (IPIC), names Goldman Sachs as well as former Goldman officials who were charged by the US Justice Department in indictments unsealed earlier this month. “This action seeks redress for a massive global conspiracy on the part of the defendants to defraud and injure plaintiffs,” said the lawsuit, which also named former executives from IPIC and its subsidiary Aabar Investments.
It was Alan Cohen who I believe was in charge of reviewing all deals as head of Global Compliance at Goldman Sachs and now he is at the top of the SEC. I believe he was given the job at Goldman Sachs because he threatened my lawyers to turn over all tapes I had of conversations with the various bankers including Goldman Sachs’ metal desk. It is now only logical that the Abu Dhabi sovereign wealth fund should also name Alan Cohen given he was the head of Global Compliance.
Here are just a few tapes that I found copies of. The bulk the SEC claimed were all destroyed in the 911 attack. There have continually been questions of the ethics inside Goldman Sachs. The entire crash in the world economy due to the Mortgage Back Securities were designed by Goldman Sachs. The major product they sold the day of the high of the ECM back in 2007 was widely touted as “Abacus 2007-AC1: Built to fail.”
As the Financial Post wrote: “Goldman has often been criticized for selling billions of dollars of debt securities, called credit default obligations (CDOs), filled with mortgages that the bank itself allegedly thought were overvalued.”
I believe it was Goldman Sachs who paid bribes to Russian politicians to recall Platinum from the market and temporarily stop sales to allegedly take an “inventory” of their stockpile. This sent prices soaring back in 1997. Russia stopped all shipments of Platinum and Palladium in December, was expected to resume exports. The hedge fund Tiger Management, a New York hedge fund back then, announced it sell some of its palladium holdings which it was believed held about one-fifth of the annual world supply of palladium (1.5 million ounces). This was followed by the silver manipulation in 1998 with most of the same firms involved.
The charging documents, unsealed in federal court on November 1st, 2018 refer to an unidentified Goldman executive as an unindicted co-conspirator who approved of the alleged bribery. The street rumor is that happens to be the executive Andrea Vella, who was Goldman’s co-head of Asian investment banking. Interestingly, Goldman Sachs suspended him the very same day that prosecutors unsealed the criminal complaints. It was also Andrea Vella was had to respond to cross-examination from Philip Edey QC, who was a lawyer acting on behalf of yet another government accusing Goldman Sachs of questionable dealings. That was the Libyan Investment Authority, which claims the investment bank took advantage of its financial illiteracy back in July 2008.
Let us not forget Goldman Sachs’ role in blowing up Greece and instigating the beginning of the Euro crisis. The crisis was created by a deal Greece struck with Goldman Sachs, that was engineered by Goldman’s CEO, Lloyd Blankfein. Blankfein and his Goldman team helped Greece hide the true extent of its debt, and in the process almost doubled it. The speculation back in 2015 was that Greece would file a lawsuit against Goldman Sachs for creating that debt crisis. There were the personal meetings between Greece and Gary Cohn to do that deal. When the client is a government, it ALWAYS involved the top people.
In 2001, Greece was looking for ways to disguise its mounting financial debt in order to just get into the Eurozone. The Maastricht Treaty required all Eurozone member states to show improvement in their public finances. Greece was heading in the wrong direction and Goldman Sachs came to the rescue. They arranged a secret loan of €2.8 billion and disguised it as an off-the-books “cross-currency swap” that was a complicated transaction in which Greece’s foreign-currency debt was converted into a domestic-currency obligation using a fictitious market exchange rate. They made 2% of Greece’s debt magically vanish from its national accounts. Goldman Sachs charged €600 million euros which was about 12% of Goldman’s revenue for 2001 giving them a record sales year.
Then the deal turned sour in the aftermath of 9/11 attacks when bond yields plunged. They resulted in a huge loss for Greece because of the formula Goldman had crafted to their benefit dictating the country’s debt repayments under the swap. By 2005, Greece owed almost double what it had put into the deal and thus we see the European debt crisis unfold.
Until 2008, European Union accounting rules allowed member nations to manage their debt with these so-called off-market rates in swaps. In the late 1990s, JPMorgan enabled Italy to hide its debt by swapping currency at a favorable exchange rate, thereby committing Italy to future payments that didn’t appear on its national accounts as future liabilities. However, what Goldman did to Greece made Italy look like child’s play.
Goldman Sachs’ share price is going down hard into 2019. The 159 level will be critical on a closing basis for the year. If that is breached, then we could see very major implications for the firm whereby it may no longer survive. There is technical support between 174 and 164. From a cyclical perspective, Goldman Sachs has peaked as an institution as of 2017. It was founded in 1869 and 17.2 x 8.6 = 147.92. That means, in fact, the 2017 closing was the all-time high for Goldman Sachs and this incident is its Death knell. Goldman Sachs may be going down for the count.
Here we have 2007.15 when Goldman Sachs sells precisely at the top of the ECM back in 2007 ABACUS2007-ACI which was a $2 Billion Synthetic CDO. It was then on the Pi Target when the SEC charged Goldman Sachs with fraud back on April 16, 2010, for that very transaction. Any small firm is imprisoned and stripped of its license. But Goldman Sachs has the SEC and the DOJ in its back pocket along with the judges and politicians. Now again on the precise Pi Target Abu Dhabi filed a lawsuit against Goldman Sachs Wednesday (Nov 21) for allegedly conspiring against the Middle Eastern fund to further a criminal scheme by Malaysia’s scandal-plagued 1MDB.
Because we have 3 countries now bringing charges and/or suits against Goldman Sachs, it appears that this will mark the beginning of the end for the firm. When the Euro cracks, they will also be blamed for their role in Greece and the rest of Europe. Don’t forget that Mario Draghi is also ex-Goldman Sachs. When the Euro cracks, there will be a microscope applied to every communication that was ever carried out between Draghi and Goldman Sachs. Every trade they have pulled off will be inspected with its tentacles into the European bond market.
After the government took down Solomon Brothers back in 1991 for manipulating the US Treasury Auctions, Goldman Sachs began a program of buying protection. They allegedly began aggressively funding politicians and then began stuffing their people in key places of government. They have been known as “Government Sachs” among dealers and they have held a power-house political hand in their back pocket. Our model, at least, warns that day is NOW OVER!!!!!!
The computer would have shorted Goldman Sachs if it could. The Global Market Watch has pinpointed a high and it warned this stock was moving into a Waterfall on the Monthly Level. This is one stock to get out of. We will see major new lows next year.
Friedrich Merz is the anti-Merkel who is standing for election in December to replace her as head of the CDU. Merz is also chairman of Blackrock there in Germany. He has been a German lawyer and politician of the center-right Christian Democratic Union (CDU). He served as a Member of the European Parliament 1989–1994, a member of the Bundestag 1994–2009, and as the chairman of CDU/CSU parliamentary group 2000–2002. In 2018 he announced his candidacy in the CDU leadership election in December 2018. Merz has described himself as socially conservative and economically liberal which means he is pro-business. He supports the European Union and NATO but sees the link to the United States as critical.
Meanwhile, Merz described himself as “upper middle class” yet he earns 1 million euros a year and has two private jets – not one. The rumor is Goldman Sachs is in its Crash & Burn mode for paying bribes and Blackrock will replace it as the most powerful financial institution in the world.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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