Nigel Farage joins Brendan O’Neill to discuss democracy, the political class and his new Brexit Party. Support spiked: https://www.spiked-online.com/donate-…
A report from earlier today notes the anticipated departure of Deputy Attorney General Rod Rosenstein, initially scheduled for mid-March, has been delayed… There’s a brutally obvious reason.
WASHINGTON DC – Deputy Attorney General Rod Rosenstein has reached an agreement with Attorney General William Barr to stay on at the Justice Department “a little while longer,” a source familiar with their conversation told Fox News – despite initial plans to step down by now.
Fox News and other outlets previously reported that Rosenstein had planned to step down in mid-March. However, sources close to the deputy attorney general say Rosenstein has not yet given his two weeks notice.
He remains at the DOJ as Special Counsel Robert Mueller’s Russia probe enters what is widely believed to be its final phases.
DOJ sources confirmed to Fox News that Rosenstein is still the primary liaison between department headquarters and Mueller’s office, even though the recently confirmed Barr has ultimate oversight over the Russia investigation. (read more)
Taking in all of the recent developments, the simple explanation here is that new Attorney General William Barr is not letting Rosenstein exit the DOJ until the DAG cleans up the mess he created by initiating the Robert Mueller special counsel probe.
Any incoming executive would not want to be left holding the bag of consequence for a legal and political fiasco created by a subordinate executive who now attempts to head for the exits. One can reasonably project that AG Barr would tell DAG Rosenstein he ain’t leaving until the mass of crap he created has been resolved, reconciled and reduced to a manageable level.
Ask any effective senior executive and they’ll affirm:
…”Sorry skippy, once you start the bus, you ain’t getting off til the rides over”…
Oh dear, this doesn’t bode well for those who are concerned about U.S. imposed 20% auto tariffs on EU, mostly German, automobiles. [NOTE: Pay attention to the timing here as it relates to Nord Stream 2] Germany’s chancellor Angela Merkel has announced she will no longer uphold her prior agreement for NATO military spending.
At the 2014 NATO meeting in Wales, all NATO members agreed they would immediately begin a process to increase their military spending to two percent of GDP. However, over time, and in direct contravention to the purpose of the effort, Germany (Merkel) began secretly working behind the scenes with Russia (Putin) on the Nord Stream II gas pipeline.
The Nord Stream 2 pipeline delivers natural gas from Russia to Germany. That pipeline is expected to go on-line this November, 2019. Today, Angela Merkel announces she will no longer uphold Germany’s financial commitments to NATO. These two issues are directly related. It now looks like Merkel made a back-door agreement with Russia on NATO.
(Via Daily Mail) Germany’s military spending is set to fall below its NATO targets, in the latest flashpoint in Berlin’s long-running row with Washington.
The latest German budget plans, revealed on Monday, will see defence spending drop well below the two per cent of GDP expected from NATO members.
U.S. ambassador Richard Grenell said the cuts were a ‘worrisome signal’, while President Donald Trump has repeatedly accused Germany of freeloading on U.S. military might.
But German Chancellor Angela Merkel rejected the U.S. criticism, saying Germany will not cut foreign aid to raise military spending.
Merkel said today that ‘we will continue our effort’ in terms of raising defence spending, ‘but not at the expense of development aid’.
‘We have always said that we’re headed in the direction of two percent, and that by 2024 we will reach 1.5 per cent,’ she said.
‘I can understand that this is not enough for the American President, it’s not enough for many European allies.’ (read more)
I have no insider information for what I anticipate will be the response; however, my suspicion is that President Trump will respond to Merkel’s duplicity with an announcement of possible 20% to 25% tariffs on EU automobiles, directly targeting the German economy, if she doesn’t change her mind.
German auto exports (BMW, Audi, Mercedes, VW) are the vast majority of U.S. ‘car’ imports from the EU. There is already a 25% import tariff on German SUV’s and trucks; which is why BMW, Mercedes and VW make their SUV’s and large vehicles in the U.S.
Germany’s finance ministry had yesterday presented its budget planning for coming years, which signalled a drop.
It said defence spending would first rise to 1.37 percent of gross domestic product in 2020 but then likely fall back to 1.25 percent by 2023. (read more)
Angela Merkel is betting her entire economy on the principle that President Donald Trump cannot win the 2020 election.
President Donald Trump and Brazil’s President Jair Bolsonaro will be holding a joint press conference at approximately 1:45pm EST.
UPDATE: Video and Transcript Added:
.
[Transcript] – Rose Garden – 1:54 P.M. EDT – PRESIDENT TRUMP: Thank you very much everyone. Thank you. Today, I’m very thrilled to welcome President Bolsonaro of Brazil for his first visit to the White House. President Bolsonaro, I want to congratulate you again on your tremendous election victory last October. It was an incredible feat and, really, a truly incredible challenge. And the end result was something the whole world was talking about.
I also know that we’re going to have a fantastic working relationship. We have many views that are similar. And we certainly feel very, very true to each other on trade. I think Brazil’s relationship with the United States, because of our friendship, is probably better than it’s ever been by far.
I also want to congratulate you on your recovery from a truly horrible ordeal. It was an incredible recovery, and the people of your country know it. The great bravery you’ve shown — tremendous bravery.
For two centuries, the American and Brazilian people have been united by shared values, including an enduring love of faith and family and country.
The United States was the first nation to recognize Brazil’s independence in 1822. And in the Second World War, Brazil was the only South American country to contribute troops to the Allied war effort.
Today, the United States and Brazil are the two largest democracies and economies in the Western Hemisphere. We’re in close agreement on the incredible opportunities and continuing challenges facing our region. And we have a truly historic chance to forge even stronger ties between our two great nations.
This afternoon, the President and I discussed many of our mutual priorities, including Venezuela. Brazil has been an extraordinary leader in supporting the Venezuelan people’s efforts to reclaim their liberty and their democracy. Brazil has helped so much. Along with the United States, Brazil was one of the first nations to recognize Venezuela’s legitimate Interim President, Juan Guaidó.
I also want to express our profound gratitude to President Bolsonaro and all the Brazilian people for their efforts to provide humanitarian aid. We also thank you for allowing the United States to station extensive assistance and massive aid on the Brazilian border. The Brazilian people have been incredible.
Together, we could — and have been, really, very happy to feed thousands and thousands of starving Venezuelans. The Venezuelan people have appreciated it. And if the Maduro forces would step aside, it could be a truly great and successful humanitarian project.
We call on members of the Venezuelan military to end their support for Maduro, who is really nothing more than a Cuban puppet, and finally set their people free.
The United States and Brazil are also united in support of the long-suffering people of Cuba and Nicaragua. The twilight hour of socialism has arrived in our hemisphere. And hopefully, by the way, it’s also arrived — that twilight hour — in our great country, which is doing better than it’s ever done economically. The last thing we want in the United States is socialism.
So, President Bolsonaro, I will tell you that we’ll be consulting and talking a lot. We’ll be working on all of our both problems and assets. And we’re making tremendous strides. We had a great meeting today.
As I told President Bolsonaro, I also intend to designate Brazil as a “Major Non-NATO Ally,” or even possibly, if you start thinking about it, maybe a NATO ally — have to talk to a lot of people, but maybe a NATO ally — which will greatly advance security and cooperation between our countries.
Our nations are already working together to protect our people from terrorism, transnational crime, and drugs and weapons trafficking. Also, human trafficking, which has really become something that has come to the forefront of crime. Horrible, horrible situation. We look forward to an even deeper partnership and working together.
In our meetings, we also discussed the strong economic ties between our nations, grounded in the principles of fairness and reciprocity. My favorite word: reciprocity.
President Bolsonaro and I are both committed to reducing trade barriers, facilitating investment, and supporting innovation across a range of industries, particularly energy, infrastructure, agriculture, and technology.
The President’s vision for freeing the private sector and opening the economy is the right way for Brazil to achieve strong economic growth. And our great companies are ready to go when that table is flat and free.
To improve our business relationships, we have revived the U.S.-Brazil CEO Forum, and we have started a new U.S.-Brazil Energy Forum. We welcome Brazil’s aspirations to join Organization for Economic Cooperation and Development, a laudable goal and one that will make Brazil’s status as a developing and developed country. We also hope that all of us will be able to work together — all nations.
I’m also pleased to announce that after 20 years of talks, we are finalizing a Technology Safeguards Agreement to allow U.S. companies to conduct space launches from Brazil. It’s actually an incredible location when you study it and when you see it. We won’t go into it now. But because of the location, tremendous amounts of money would be saved. To put it very simply: The flights are a lot shorter.
Brazil’s proximity to the equator makes it an ideal launch location. My administration is committed to reviving America’s proud legacy in space. We’re looking very strongly, as you know, and working together with everybody on Space Force. And we are grateful for Brazil’s partnership.
Mr. President, thank you again for the honor of your visit today. A strong and thriving friendship between the United States and Brazil is essential to a future of security and prosperity for all of our citizens. It’s been a wonderful time getting to know you. You’re doing a fantastic job. You’ve brought the country together. And I look forward to working with you in a very close relationship for many years to come. Thank you. Thank you very much.
Mr. President, thank you very much.
PRESIDENT BOLSONARO: (As interpreted.) Your Excellency, Mr. President, Donald Trump, the President of the United States of America; my Cabinet ministers; members of the delegations joining us in this session today both from Brazil and from the U.S.; and ladies and gentlemen, media professionals, other guests: Thank you very much, President Trump, for your warm hospitality. It is an honor for us to be in Washington as part of my first bilateral trip ever since I was elected President of Brazil.
I would like to use the opportunity, by the way, to invite you to reciprocate this visit because you will indeed be very welcomed by the Brazilian people, at large. We do share a great deal in common.
I have always admired the United States of America. And this sense of admiration has just increased after you took office, at the presidency.
This meeting of ours today restores an old tradition of partnership. And, at the same time, it starts a new chapter of cooperation between Brazil and the United States. Inasmuch as today, we have revisited and have again decided to promote matters that were on our order of business for decades.
It is time to overcome old resistance and explore the very best potential that is there between Brazil and the United States. After all, it is fair to say that, today, Brazil does have a President who is not anti-American, which is really unprecedented in the past few decades.
The reforms we are currently undertaking have changed Brazil into an even more attractive country. We are strongly committed to striking a proper balance in government accounts and also, of course, totally changing the business environment. U.S. support to Brazil’s accession to the OECD will be clearly interpreted or construed as a gesture of mutual understanding, which will be very emblematic as part of the closer and closer ties we aspire to.
The private sectors of both countries should remain a high-profile player in our relations. And that is why we have decided to restore the CEO Forum between Brazil and the U.S. We also intend to attach priority to relaunching an energy forum with an emphasis on oil, gas, and other sources of energy.
The Brazilian government, as a sign of goodwill, has granted whole visa exemption to U.S. nationals, with a view to further encouraging tourism and business travels.
On the defense and space cooperation work front, we have signed a Technology Safeguards Agreement, which will, in turn, enable the Alcântara Satellite Launch Center.
Military cooperation has also expanded as we seek out partnerships in the development of defense systems. Science, technology, and innovation activity can certainly be expected to take on an increasing role as part of our bilateral agenda, hence our proposal to launch an innovation forum between Brazil and the U.S.
Efforts to tackle terrorism and organized crime is a matter of utmost urgency for our two peoples. We have decided to strengthen our bilateral security forum and do more against money laundering and drug trafficking.
Reestablishing democracy in Venezuela is also a shared interest between our two administrations. The dictatorial regime in Venezuela today is part of a broader international coalition, known as the “São Paulo Forum,” which nearly conquered power throughout Latin America in recent times. However, by democratic means, we were able to rid ourselves from that project in Brazil.
In conclusion, may I say that Brazil and the United States stand side by side in their efforts to ensure liberties and respect to traditional family lifestyles, respect to God, our Creator, against the gender ideology or the politically correct attitudes, and against fake news.
Drawing inspiration from Ronald Reagan, I wish to bring to Brazil his administration style, as summarized in the following citation: People should say what the government can do, and not the other way around.
The United States changed in 2017, and Brazil has just started to change now, in 2019. We stand together, side by side, to the ultimate benefit of our two nations. We want to have a great America, yes, and we also want to have a great Brazil.
Once again, may I voice my admiration and recognition to President Donald Trump on this beautiful day where we seal a promising alliance between the two most promising and largest democracies in the Western Hemisphere. May God bless Brazil, and may God bless the United States of America. Thank you very much, Mr. President. (Applause.)
PRESIDENT TRUMP: So we’ll take a couple of questions.
Roberta Rampton, please. Roberta. Reuters. Thank you.
Q Thank you very much, Mr. President. On Venezuela, you did the tough sanctions and you sent the aid, but it seems like Maduro is no closer to leaving. And I’m wondering if you’re getting worried about losing momentum. And how long are you being told that this going to take?
PRESIDENT TRUMP: I’m not being told any specific time. They’ve been there a long time, between him and his predecessor. At some point, I would imagine things will change. But we really haven’t done the really tough sanctions yet. We can do the tough sanctions. And all options are open, so we may be doing that. But we haven’t done the toughest of sanctions, as you know. We’ve done, I would say, right down the middle. But we can go a lot tougher if we need to do that.
But it’s a very sad thing, and we’re not looking for anything other than taking care of a lot of people that are starving and dying in the streets. What’s happening there is a disgrace. This was one of the wealthiest countries in the world, and all of a sudden it’s just — it’s grief-stricken, poverty-stricken, no food, no water, no air conditioning, no anything. No power for a long time last week. No power. And that’s going to break down again because it’s being held together by threads.
So it’s very sad, Roberta. Very sad to see. Okay?
Q May I ask President Bolsonaro? President Bolsonaro, are you open to the idea of allowing a U.S. base or U.S. military personnel or a military presence in Brazil to provide support on the border with Venezuela? And is that something that you talked about with President Trump today?
PRESIDENT BOLSONARO: (As interpreted.) Yeah, we have discussed the possibility of Brazil becoming a great Allied extra NATO. Recently, we requested that food was sent through Boa Vista, the capital of Roraima state, through our friends from America, so that humanitarian aid was provided to Venezuela.
At this point in time, this is where we stand. So for as much as it is possible for us to do together to sort out the issue of the Venezuelan dictatorship, Brazil will be more than willing and ready to fulfill this mission and take freedom and democracy to that country, which up until recently was one of the wealthiest countries in South America. But nowadays, people are starving to death, they are suffering violence, lack of medication. It’s something terrible that’s going on in there. And we need to put an end to this issue, which is pervasive to the whole wide world.
PRESIDENT TRUMP: Mr. President, yes.
Q (As interpreted.) Hello, Simone Iglesias from Bloomberg. I would like to know, if the U.S. actually have a military intervention in Venezuela, what’s the position of Brazil?
PRESIDENT BOLSONARO: (As interpreted.) Well, there are a few issues that, if you speak, they are no longer strategic. Therefore, these reserved issues, which may be discussed if they have not yet, will not become public, evidently.
I remember on a debate here in the United States when a candidate asked another candidate what he would do to fight the Islamic State. He said, “If I say, I will no longer be able to beat it.” So it’s a matter of strategy. For everything that we discuss here will be honored, but unfortunately certain pieces of information, if are to come to the table, may not be debated publicly.
Q (As interpreted.) President Trump, regarding the military intervention, do you think about this possibility of fighting Venezuela to remove Maduro from power?
PRESIDENT TRUMP: So, as I said, all options are open. I think of all possibilities. All options are open. We’ll see what happens.
And, by the way, I see in the audience the son of the President who has been fantastic. Would you please stand up? The job you’ve done during a very tough period of time is just fantastic. And I know your father appreciates it, that I can tell you. Okay? Thank you very much. Fantastic job.
Saagar Enjeti, from Daily Caller. Saagar.
Q Thank you. Thank you, Mr. President.
PRESIDENT TRUMP: Thank you.
Q I have two questions for you, sir, if I may. The first on the 2020 election. There’s a growing number of Democratic candidates who have endorsed the idea of adding seats to the Supreme Court. Is that an idea that you would entertain in the remainder of your term or possible next term? Or is that not something that you agree with?
PRESIDENT TRUMP: No, I wouldn’t entertain that. The only reason that they’re doing that is they want to try and catch up. So if they can’t catch up through the ballot box by winning an election, they want to try doing it in a different way. No, we would have no interest in that whatsoever. It’ll never happen. It won’t happen — I guarantee it won’t happen for six years.
Q Another question for you on social media. You tweeted in support of Congressman Nunes’s suit against Twitter. There’s part of a larger discussion that Senator Josh Hawley has been leading about making social media companies liable for the content that is on their platform, which they’re not currently. Is that an idea or a change in law that you would support?
PRESIDENT TRUMP: Well, we have to do something. I tell you, I have many, many millions of followers on Twitter. And it’s different than it used to be. Things are happening, names are taken off, people aren’t getting through. You’ve heard the same complaints. And it seems to be, if they’re conservative, if they’re Republicans, if they’re in a certain group, there’s discrimination and big discrimination. I see it absolutely on Twitter and Facebook, which I have also, and others I see.
But I really focus more on the one platform. And I have many different platforms. It’s — I guess we have 60 million — almost 60 million on Twitter. And if you add them all up, it’s way over 100 million people. And I get to see firsthand what’s going on, and it’s not good.
And we use the word “collusion” very loosely all the time. And I will tell you, there is collusion with respect to that, because something has to be going on. And when you get the back-scene, back-office statements made by executives of the various companies and you see the level of, in many cases, hatred they have for a certain group of people that happen to be in power, that happen to have won the election, you say that’s really unfair.
So something is happening with those groups of folks that are running Facebook and Google and Twitter. And I do think we have to get to the bottom of it. It’s very fair — it’s collusive, and it’s very, very fair to say that we have to do something about it. And if we don’t — you know, the incredible thing is that we can win an election and we have such a stacked deck. And that includes networks, frankly. You look at the networks, you look at the news, you look at the newscasts — I call it “fake news.” I’m very proud to hear the President use the term “fake news.” But you look at what’s happening with the networks. You look at what’s happening with different shows. And it’s hard to believe we win.
But, you know, I’ll tell you what it really shows: The people are smart. The people get it. They’ll go through all of that — whatever it is they’re fed — and in the end, they pull the right lever. It’s a very, very dangerous situation. So I think I agree. I think something has to be looked at very closely.
Q Thank you, sir. President Bolsonaro, and another question on the 2020 election: If a number of the Democrats who are running to replace the President have embraced or have considered socialist ideas — you’ve spoken critically of that in the past — if a socialist or a candidate who embraced socialism were to replace the President, how would it affect your relations with the United States?
PRESIDENT BOLSONARO: (As interpreted.) Well, it’s an internal affair. We will respect whatever the ballots tell us on 2020, but I do believe Donald Trump is going to be reelected fully.
PRESIDENT TRUMP: Thank you. I agree. (Laughter.)
PRESIDENT BOLSONARO: (As interpreted.) Yeah. This was the same — what happened to me. I think everyone will repeat their vote here in America.
So, every day, more and more people that are prone to socialism, and even communism, slowly are going to be opening their minds to the reality. And you can see the border with Venezuela and Brazil was recently closed — not for Brazilians, which are pro-socialism, to go into Venezuela, but the other way around, so that Venezuelans who support democracy wouldn’t go into Brazil. This feeling most certainly is going to be very much seen when 2020 comes.
PRESIDENT TRUMP: Mr. President, thank you very much.
Q Sorry —
PRESIDENT TRUMP: Go ahead. You want to go?
Q Yeah.
PRESIDENT TRUMP: You look like a very nice person.
Q Yeah.
PRESIDENT TRUMP: Go ahead. Watch — this will be the killer of all time. Watch. (Laughter.)
Q (Laughs.) Thank you, Mr. President. Beatriz Bulla from Estadão. The USTR is not supporting the entry of Brazil in the OECD. Is the U.S. government going to formally support Brazil’s entry on the OECD? And what have you asked as a trade-off?
PRESIDENT TRUMP: We will be supporting — we’re going to have a great relationship in so many different ways. That’s just a — just something that we’re going to be doing in honor of the President and in honor of Brazil.
We will be asking for things but not necessarily having to do with that. I think we’re just going to have a very fair relationship. Okay?
Q Thank you.
PRESIDENT TRUMP: Thank you.
Q And President Bolsonaro —
PRESIDENT BOLSONARO: Thank you! (Laughter.)
Q (As interpreted.) President Bolsonaro, does the United States expect the influence of China into Brazil? Yesterday, Paulo Guedes mentioned that it’s going to incentivize relations with China. How does the U.S. see that, and what you said about President Trump, about the Chinese in Brazil?
PRESIDENT BOLSONARO: (As interpreted.) Well, like I said, Brazil is going to keep on making as much business with as many countries as possible. No longer businesses are going to be found into the ideology, as it used to be. We are also following this objective for the good of our peoples.
PRESIDENT TRUMP: Thank you very much, Mr. President. I appreciate it. Thank you very much. And thank you everybody. Thank you very much.
Q Another round of trade talks with China, Mr. President?
PRESIDENT TRUMP: China is going — China is going very well. Talks with China are going very well.
Earlier today President Donald Trump and Brazil’s President Jair Bolsonaro held an open media event in the Oval Office prior to their bilateral discussions. (Video and Transcript Below):
[Transcript] – 12:10 P.M. EDT – PRESIDENT TRUMP: Thank you very much. It’s a great honor to have President Bolsonaro with us from Brazil. He has done a very outstanding job; ran one of the incredible campaigns. Somebody said it, a little bit, reminded people of our campaign, which I’m honored by. But it was a tough, well-fought-out campaign.
And we are going to be discussing, today, Venezuela. We’ll be discussing trade. We’ll be discussing many subjects. And Brazil is a great friend. I think probably because of the relationship that we have, Brazil and the United States have never been closer than they are right now.
PRESIDENT BOLSONARO: (Speaks Portugese.)
Q Mr. President —
INTERPRETER: Excuse me. Translation now.
PRESIDENT BOLSONARO: (As interpreted.) It gives me great pleasure to be here in United States to take part in this visit after decades on end of anti-U.S. Presidents in Brazil. Brazil has indeed made a major shift in 2017. Obviously enough, we do have a great deal to talk about. We do share a lot in common. And we will certainly work to the benefit of our two peoples.
We do have a great deal of shared values. I admire President Donald Trump. And we will certainly work towards the benefit of our two nations. Because, just as President Donald Trump wants to have a great America, I, on my side, also want to have and ensure we have great Brazil.
So yes, increasingly, from now onwards, Brazil will become increasingly engaged with the U.S., and I’m very proud and pleased that that is so.
PRESIDENT TRUMP: Thank you very much. That’s very nice. Thank you.
And I think — before we begin, I think we would like to — you know, Brazil is a great, great soccer power and a great country. And we’re going to present that, and I believe they have one also. But you know all about Brazil being the great soccer power. They have great, great players. I can still remember Pelé and so many others. You’ve had a fantastic history.
So we’re going to exchange jerseys. I see that we got one, and this is the U.S. National Team. And so that’s an honor to give that to you. Thank you very much.
PRESIDENT BOLSONARO: (As interpreted.) I’m a little younger, but I also do remember Pelé.
PRESIDENT TRUMP: Yeah, right. Right.
PRESIDENT BOLSONARO: (As interpreted.) Let me use the opportunity, Mr. President, to hand you a gift, a jersey, as a token of — as an emblematic token of the world’s best-ever soccer player, Edson Arantes do Nascimento —
PRESIDENT TRUMP: Yes.
PRESIDENT BOLSONARO: (As interpreted.) — also known as “Pelé,” who gave us so much joy by playing football and for his talent at football.
Q Mr. President, will you grant Brazil NATO privileges? Will you grant Brazil NATO privileges? Are you —
PRESIDENT TRUMP: Well, we’re looking at it very strongly. We’re very inclined to do that. The relationship that we have right now with Brazil has never been better. I think there was a lot of hostility with other Presidents. There is zero hostility with me. And we were going — we’re going to look at that very, very strongly, in terms of whether it’s NATO or it’s something having to do with alliance. But we have a great alliance with Brazil — better than we’ve ever had before.
Q Mr. President, Brazil is working to offer the United States access to a rocket launch site in Brazil. Americans will be able to go to Brazil without a visa. What would you like President Bolsonaro to get to Brazil — to take to Brazil as a result of this visit?
PRESIDENT TRUMP: Well, we have. We’re working on different military sites and military options. We’re working on visas and going in a much easier fashion. All of that is good. And we have many things that Brazil would like, and I think we’re working on those things.
One of the big elements of the relationship is trade. Brazil makes great product and we make great product. And our trade has been never as good as it should be in the past. And in some cases, it should be far, far more.
So I think our trade with Brazil will go substantially up in both directions, and we look forward to that. And that’s one of the things that Brazil would like to see.
Steve. Steve.
Q Mr. President, you’re going to talk about Venezuela. What do you want to see happen in Venezuela?
PRESIDENT TRUMP: Well, we don’t want to say exactly. I know exactly what I want to happen in Venezuela, but we’re going to be talking about different things. All options are on the table. And it’s a shame what’s happening in Venezuela — the death, and the destruction, and the hunger. Hard to believe one of the wealthiest countries is now one of the poorest and most impoverished countries. So we’ll be talking about that in great length.
Q (Inaudible) Mr. President, Brazil involved on a military action in Venezuela? And also, are you offering Brazil — are you supporting Brazil’s efforts to join the OECD?
PRESIDENT TRUMP: I am supporting their efforts to join, and we are just going to decide — I think I can speak for both countries: All options are on the table. Every option is on the table with respect to Venezuela.
Q And you would like to see Brazil involved on any sort of military option?
PRESIDENT TRUMP: We haven’t even discussed it. We’re going to discuss it today.
Q Mr. President, why are you attacking Senator John McCain seven months after his death?
PRESIDENT TRUMP: I’m very unhappy that he didn’t repeal and replace Obamacare, as you know. He campaigned on repealing and replacing Obamacare for years. And then he got to a vote and he said, “Thumbs down.” And our country would have saved a trillion dollars and we would have had great healthcare.
So he campaigned. He told us, hours before, that he was going to repeal and replace. And then for some reason — I think I understand the reason — he ended up going thumbs up. And, frankly, had we even known that, I think we would have gotten a vote because we could have gotten somebody else. So I think that’s disgraceful. Plus, there are other things.
I was never a fan of John McCain and I never will be.
Thank you very much everybody. Thank you.
Q What do you say to critics who call you authoritarian? What do you say to people who call you both authoritarian?
PRESIDENT TRUMP: Thank you very much.
Q Mr. President, does Secretary Alex Acosta still have your full support?
QUESTION: There are a few people coming out claiming the stock market will crash so buy bonds even though you will lose money. How can people keep calling for a mega-crash so long with constantly being wrong since 2010?
Thank you for your reason
NR
ANSWER: These people are still living in a world that is defined by the event of the Great Depression. Even Germany forces austerity upon Europe because they do not understand the events behind their own hyperinflation and stupidly assume it was merely an increase in the supply of money that caused the event. Nobody seems to be bothered to ask which comes first – the chicken or the egg?
Here is a chart of the stock market with the US Long Bond. Andrew Jackson paid off the national debt in 1835. President Jackson also shut down the Second Bank of the United States on Sept. 10th, 1833. Jackson announced that the government would no longer deposit federal funds in the Second Bank of the United States, which was a quasi-governmental national bank. The stock market peaked in 1835 and began its decline without a central bank. Then during July 1836, Jackson issued the Specie Circular. Under this act, the government would only accept gold or silver in payment for federal land.
Jackson’s Bank War closing down the Bank of the United States was personal because they funded his opposition. By shifting deposits to state banks, Jackson set off a major crisis undermining the entire monetary system. He effectively devalued all the circulating currency in the country with one law – the Specie Circular. Suddenly, there was a run on gold. The Panic of 1837 unfolds as New York banks suspended all withdrawals of gold. Jackson created massive austerity, but he had shut down the national debt as well. This was a very complicated financial crisis with an interesting mix of events combining together.
There were NO federal issues of paper money and the first paper dollar to be issued by the government did not unfold until 1860 to fund the Civil War. Therefore, Jackson effectively canceled all paper money by refusing to accept it and this resulted in a gold panic forcing the banks to suspend all payments. People were rushing to banks to exchange their paper currency for gold and banks could not meet the demand and suspended all demands for gold.
When federal bonds resumed in 1842, they had declined in value as interest rates rose. There was no flight to quality, only to gold given there were no federal bonds. This is when several states moved into default permanently upon their debt. Therefore, the Monetary Crisis Cycle that hit then was felt in the state and local levels – not federal. The Monetary Crisis Cycle that hit in 1931 resulted in widespread sovereign defaults outside the USA.
Each cycle that hits is slightly different characters and reasons. I highly warn against buying any sovereign debt whatsoever. Any federal debt to hold must be short-term no more than 90-day paper. In the case of the Hard Times of 1837-1842, the stock market crashed in terms of gold because all money was effectively canceled. Paper money collapsed as notes lost their legal-tender value. Thus, only gold rose in value as the medium of exchange thanks to Jackson refusing to accept anything but gold.
This time around, bonds are legal tender so that is the money that will decline in value far more than anyone expects. Both the Bank of Japan and the ECB in Europe have wiped out their bonds markets for they have been the primary buyer of government debt which they cannot now resell.
The Supreme Court reversed a prior 9th Circuit Court ruling restricting when illegal aliens could be detained and deported.
The SCOTUS ruling (full pdf below) was in favor the Trump administration, allowing federal officials to detain and deport illegal aliens after they have served their time in the U.S. for other crimes regardless of whether they were picked up immediately or later, after criminal release.
The 9th Circuit Court previously stated ICE would have to detain illegal aliens immediately after release or they would be exempt from later detainment. SCOTUS eliminated that restriction and affirmed detainment and deportation at any time after criminal release. The ruling was 5-4 with Justice Alito announcing the majority judgement of the court below:
In your blog you talked about a global recession and hard landing. Does this mean the US stock market will rally because funds will flow from the rest of the world to the US stock market? Or will the US stock market succumb to the global recession and go lower too?
This is very confusing for most of us and a very critical time in the markets. I hope you will guides us with your knowledge and experience.
Thank you for all you do!
KC
ANSWER: The key to pushing capital fleeing into the stock market will be the decline in public confidence within the government. Everything is unfolding on schedule. You see turmoil everywhere from Canada to France and Italy. The level of people distrusting government is climbing. Normally, it will take a 45% level of people turning against the government to set off the spark.
So no, there still does not appear to be a major crash of 50-62% as the majority are calling. The market is testing resistance, but here too we do not see this as breaking out and taking off just yet. We are in a choppy consolidation building a higher base that qualifies as a cycle low. We will be ready to take off soon. Just be patient.
QUESTION: There are many people who are now saying we are headed into a recession. Your model shows we are coming to the end. Yet you have been the only analyst who has been correct. There are bankers warning the stock market will collapse by 50% because it always goes down in a recession. I watched the market rally to new high as you forecast back in 2010 going into 2015. Then you warned the market would invert and continue the rally after 2015. The market rallied into nearly your Pi Target in 2018. You said at the last WEC there would be a correction back to retest the monthly bearish reversal.
You have been correct at every turn. Back in 2014, you posted: “What will not go down when the cycles shift, inverts and rises even further.” It seems that this has been a cycle inversion where the market has just been rising through the upside and downside of your model. My question is this. You still forecast that this is just the staging ground and we are about to see a different pattern altogether. Is this all part of the cycle inversion you have been stating is underway?
NM
ANSWER: Yes. I also wrote in that post: “This is why I have beenwarning a cycle inversion is coming. We may be in that process now starting from November 19th/20th.” With all the craziness on the horizon economically, the government was the one in trouble, not the private sector. That meant we had to undergo a cycle inversion. That is what is underway. A normal cycle would have seen the market peak in October 2015 and then decline. The fact that the market has continued to rally past 2015 proves this is a cycle inversion. We will be addressing this at the Rome WEC. We are about to make a major play that will be critical to understanding for the future.
The bad news keeps coming out of the EU concerning Italy . Not only is Italy in recession but Germany and France are teetering there as well. Italy’s sovereign debt crisis and its Non Performing Loan fiasco is going to blow the whole house down. I’d hate to think of all the credit default swaps out there … Hmmm could be like all those ‘bad’ MBS’s that brought the whole house down (figuratively speaking)in 2007/8. Italy’s politics is exacerbating the situation. The politicians might want all the ‘benefits’ of being in the Euro BUT if Italian debt crashes and the ECB can’t foot the bill (i.e. Germany), it’s arriva derci, sayonara and bye bye to the Euro and Italy will Italexit!
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!
This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
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