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By Tyler Durden

Submitted by Jeff Thomas via InternationalMan.com,

In 2007, Vladimir Putin spoke at the 43rd Munich Conference on Security Policy. Far from being a diatribe, Mister Putin spoke eloquently and without the bluster that we tend to expect from political leaders.

He began by stressing the need for all countries to benefit within the global economy, overcoming poverty, maintaining economic security and developing an ongoing dialogue. He then addressed the increasing threat of warfare in the world, quoting American President Franklin Roosevelt as having said, “When peace has been broken anywhere, the peace of all countries everywhere is in danger.”

He warned against a “unipolar” world and aspirations of world supremacy by a single uber-government, saying,

However one might embellish this term, at the end of the day it refers to…one centre of authority, one centre of force, one centre of decision-making… And at the end of the day this is pernicious not only for all those within this system, but also for the sovereign itself because it destroys itself from within. And this certainly has nothing in common with democracy. Because, as you know, democracy is the power of the majority in light of the interests and opinions of the minority.

Incidentally, Russia—we—are constantly being taught about democracy. But for some reason those who teach us do not want to learn themselves. I consider that the unipolar model is not only unacceptable but also impossible in today's…world…the model itself is flawed because at its basis there is and can be no moral foundations for modern civilisation… Unilateral and frequently illegitimate actions have not resolved any problems. Moreover, they have caused new human tragedies and created new centres of tension. Judge for yourselves: wars as well as local and regional conflicts have not diminished…even more are dying than before.

He goes on to describe the growing US disdain for the basic principles of international law, stating pointedly that,

One state and, of course, first and foremost the United States, has overstepped its national borders in every way. This is visible in the economic, political, cultural and educational policies it imposes on other nations. Well, who likes this? Who is happy about this?

Of course, it’s true that, worldwide, there’s growing concern that the US sees itself as the world’s policeman—providing largesse to those governments that kowtow to US interests, whilst attacking those that don’t. It claims that it does so to make the world “safe for democracy” yet, in recent years, it has invaded more countries than ever before in its history, destroying well-functioning governments and replacing duly-elected leaders with puppet governments or, worse, with nothing at all.

Mister Putin goes on to state that,

of course this is extremely dangerous. It results in the fact that no one feels safe… Moreover, significantly new threats…have appeared, and today threats such as terrorism have taken on a global character. I am convinced that we have reached that decisive moment when we must seriously think about the architecture of global security. And we must proceed by searching for a reasonable balance …read more

Source: A Voice In The Wilderness?

    

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By Tyler Durden

Readers who have been following the crisis in Aleppo have seen media reports of videos and photos allegedly originating from innocent children victims, pleading against the advance of the Assad forces. And while there have been various accusations that these clips, like the infamous “chemical attack” YouTube clip from 2013, were staged, such reports were promptly slammed by the mainstream media as “fake news” and roundly ignored. However, if one ever needed a reason to be skeptical of claims, photographs, and/or videos coming out of the region, and the MSM’s appeals to readers emotions based on fabricated facts, Egyptian authorities have just provided it.

Egyptian police arrested five people in Port Said, Egypt for making staged “wounded children” photos, which they were planning to use to misrepresent on social media as photos of destruction and injured people in Syria’s Aleppo, the Egyptian Interior Ministry said on Monday. The group also made fake videos that purport to show the wreckage of air strikes in Aleppo.

The shooting team, which included the photographer’s assistants and parents of the children, was detained in the Egypt’s province of Port Said,” the Ministry said on Facebook.

According to the Ministry, the police witnessed the shooting process, which was taking place near the vestiges of a building destroyed as illegal under the decision of the local authorities. A girl standing in a white dress covered in “blood” that later proved to be paint, drew attention of a police officer driving by. The girl held a teddy bear covered in the same “blood” and had her arm “bandaged”.

The Facebook statement said the videographer, his assistants, and the parents of two children who appear in the footage were detained after a trail led police to them at a building site awaiting demolition. The five have reportedly admitted they were planning to distribute their footage on social media, which was supposed to show an eight-year-old girl in a white dress and bandages, covered in red stains while holding a teddy bear.

“A 12-year-old boy is also interviewed about what life is like under intensive Russian-backed Syrian government air strikes,” reported
The Independent

The photographer also admitted that he was going to publish these photos on social media as pictures of Aleppo.

To be sure, this one instance does not mean all footage coming out of the region is fake. It also does not mean every claim made by Russian, Syrian, and Iranian officials about the conflict is true in comparison. Still, the fact remains that journalists aren’t going to rebel-held areas for fear of execution. Instead, they rely on the Syrian Observatory for Human Rights, which is run by one anti-Assad dissident in Coventry, England. So-called Syrian activists and the shady group known as the White Helmets make up the rest of the reports in Syria, even though they both have also been largely criticized and discredited.

Also troubling is the willingness of the conventional media to accept most of these reports at face value without …read more

Source: 5 Arrested After Egyptian Police Bust Staged Photo Shoot Of "Wounded Aleppo Children"

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By The_Real_Fly

I can go a lot of ways with this material. I could trigger many of you to breathe fire over the racist MTV video that mocked and demonized white males, but what’s the point? These people are irrelevant and ineffective. They’re losing the culture wars, targeting the largest group of people (white males) in the country in a feeble attempt to make them feel like shit, and the being mocked to death for it. In this case, following the release of a video which the cucks at MTV figured would be well received, they were roundly humiliated for their lameness and outward hatred for white men — forcing them to remove the video from their infantile channel.

Remember the days when MTV only played music videos? Those were the good days.

Now they want to delve into social engineering, but their pedigrees aren’t very good and their cognitive thinking is weak– which is why they lose.

Tucker Carlson broached the subject this evening, talking about how wrong it was to label any race as bad, etc, etc. All of that is a secondary issue here when discussing the failed agitprop of the left. Bear in mind, this is a party that has shed over 900 legislative seats since 2010 and holds just 18 governorships and no meaningful leadership in both the house and senate.

The left is failing, worldwide, because they’re weak, ineffective, and intellectually lazy. We can only hope for more MTV videos of this sort, in order to expedite the pushback against establishment shills.

Content originally generated at iBankCoin.com

…read more

Source: MTV Removes Racist ‘Hey Fellow White Guy’s Video’; But the Internet Remembers

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By Tyler Durden

Submitted by Mac Slavo via SHTFPlan.com,

What is the anatomy of a breakdown?

The past eight years have been extremely difficult for the real economy. Central bank intervention has propped up the stock market at the expense of the main street economy, at the expense of middle class security, at the expense of jobs.

And everyone knows that game can’t continue. The question is how it will play out, and how long the game will be.

The Federal Reserve finally announced rate hikes – planning one incremental increase after another throughout the coming Trump Administration.

Close to a decade of stimulus, quantitative easing, zero interest rates and easy money for those on top is coming to an end. For all those who have borrowed, it means that the burden of debt is coming due – and the biggest borrower of all, the U.S. government, will face huge new costs in the form of increased interest on $14 trillion in debt:

Rising interest rates help savers and hurt borrowers. As the biggest borrower on the planet, the U.S. government will soon begin paying more to investors holding roughly $14 trillion in Treasury debt. “As debt continues to grow and interest rates return toward more normal levels, interest spending is slated to be the fastest growing part of the budget.” (source)

This crunch could impact state, businesses, municipalities and individual households in a big way as well. Meanwhile, the presidency of Donald Trump has changed the surface of the political landscape entirely, and no one is quite sure what will happen – though plenty on the left have been casting Trump as a neo-Hitlerian figure.

Brandon Smith, who runs Alt-Market.com, may not know the future either, but he has developed a very strong track record for predicting the “surprise” victories for Brexit in the UK, and for Trump in the U.S.

But he didn’t just predict their win at the polls, but that these new signposts of the conservative, populist uprising would be used by the elite – who allowed these electoral changes – in order to scapegoat the coming financial collapse.

As things continue to play out, he has been so far proven stunningly accurate, and should not be readily ignored.

Will Trump’s presidency be better understood in hindsight as what has already been dubbed: ‘Operation Shift Blame’?

Here’s what Brandon Smith said a couple of weeks ago in a focused interview with the X22 Report:

The Elite Already Have The Collapse Planned, ‘Operation Shift Blame’ Is A Go: Brandon Smith

As Brandon Smith argues in the interview, the Trump presidency, if he is right, is all about having a scapegoat for the crash of the economy during his watch.

If the populists, nationalists, and conservatives are blamed, then their views are discredited, and momentum to control the aftermath – and restore order to the system – falls back to the establishment that has, until …read more

Source: Brandon Smith Warns The System Is Crashing: "Prepare For Bank Confiscations, Shortages, Insurgency"

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By Tyler Durden

With a valuation of $68 billion as of December 2016 – more than GM and Twitter combined – Uber is, according to the WSJ’s Unicorn Database, the most valuable private company in the world.

And yet, despite its eye-popping valuation courtesy of a growth curve which until recently was truly unprecedented (at least until the company’s sudden withdrawals from China), Uber has a big problem: an unprecedented cash burn, which if not getting worse with every passing quarter, is certainly not getting better.

Back in August, Bloomberg reported that Uber’s first half loss roughly $1.4 billion ($580MM in Q1 and well over $800MM in Q2) on just over $2 billion in revenue ($960MM in Q1 and $1.1BN in Q2): it was burning approximately $1.6 dollars in costs and overhead (mostly in the form of an ongoing attempt to price the competition out of business by subsidizing drivers using VC cash).

This follows a loss of $2 billion in 2015, and had, as of Q2, lost at least $4 billion in the history of the company. Of this, however, Uber reportedly lost at least $2 billion in China as a result of a failed attempt to penetrate the local market which it abandoned later in the summer, which while sapping growth potential in China, also supposedly stem losses associated with the Chinese market.

Furthermore, the H1 loss came at a time when its fortunes in the US were said to be changing, and the company vowed it was turning a profit in Q1, only to revert back to its money losing ways in Q2 and onward.

As Bloomberg said at the time, “It’s hard to find much of a precedent for Uber’s losses. Webvan and Kozmo.com—two now-defunct phantoms of the original dot-com boom—lost just over $1 billion combined in their short lifetimes. Amazon.com Inc. is famous for losing money while increasing its market value, but its biggest loss ever totaled $1.4 billion in 2000. Uber exceeded that number in 2015 and is on pace to do it again this year.”

Fast forward three months, when overnight Bloomberg reported that Uber’s cash burn problems continued, and in the third quarter, Uber lost another $800 million, bringing its total loss for the first nine months of the year to “significantly more” than $2.2 billion. The good (and bad) news is that even as its cash burn grew, so did Uber’s revenue which rose even leaving the world’s most populous country, and is said to have generated about $3.76 billion in net revenue in the first nine months of 2016, or about $1.7 billion in Q3 revenue and, according to Bloomberg, is on track to exceed $5.5 billion this year. The problem – if only from a cash burn basis – is that when 2016 closes in ten days, Uber is also expected to have burned a record $3 billion.

Another problem, one which comes as less of a surprise, is that growth in Uber’s bookings – the total combined value of the fares that riders …read more

Source: Uber’s Massive Cash Burn Problem: 2016 Loss Set To Hit A Record $3 Billion

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By Tyler Durden

According to data released by the US Census, in 2016 the U.S. population grew at the lowest rate since the Great Depression, while the state of New York shrank for the first time in a decade. The biggest loser, again, was Illinois which shrank for a third consecutive year, losing 38,000 people, mostly from the Chicago area.

The overall slowdown was due to uptick in deaths, a slowdown in births and a fractional drop in immigration, all of which damped American population growth for the year ended July 1. The 0.7% increase, to 323.1 million, was the smallest on record since 1936-37, according to William Frey, a demographer at the Brookings Institution.

New York State, whose loss of 1,900 people put its population at 19.7 million, is shrinking because residents are leaving for other states. It has an aging population that is retiring in warmer places such as Florida, or staying put and dying, as the WSJ put it. “As a state that has more people leaving than going [in], that is not a good thing,” said Jan Vink, a researcher at Cornell University’s program on applied demographics. “People claim it’s about the taxes, it’s about the weather. There are many reasons.”

It’s not just New York which saw a modest exodus: the figures showed Americans continue to leave the North for Western states, with Utah, Nevada, Idaho and several others in that region topping the country in percentage growth. About 593,000 people left the Northeast and Midwest to move to the South and West this year, slightly more than during the prior one-year period, as the retiring cohort gets bigger.

However, the biggest state loser in population terms by a big margin was Illinois, which lost more residents in 2016 than any other state, losing 37,508 people, which puts its population at the lowest its been in at least a decade. This year marks the third consecutive year in which Illinois is among the few states to lose residents, putting its population at 12,801,539 people. Illinois had only the second-greatest decline rate in 2016, however, as even with the population drop it continues to be the fifth-most populous state. West Virginia had the greatest decline rate this year.

Illinois’ population first began to drop in 2014, when the state lost 7,391 people. That number more than tripled in 2015, with a loss of 22,194 people, and further multiplied in 2016. The plunge is mainly a result of the large number of residents leaving the state in the past year — about 114,144 in all — which couldn’t be offset by new residents and births, according to census data measuring population from July 2015 to July 2016.

Making matters worse for the state’s various semi-solvent pension plans which are dependent , by almost every metric Illinois’ population will continue to sharply decline in the coming years as more residents call it quits on the state they call home according to the Chicago Tribune. The Tribune last year surveyed dozens of …read more

Source: US Population Grows At Slowest Pace Since The Great Depression; Residents Flee Illinois Again

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By Tyler Durden

In the weeks since Donad Trump was elected president, US financial stocks (and energy companies) have soared with all eyes on Dow 20k. However, across the world's capital markets, investors have lost a combined $1.2 trillion in debt and equity values, as the bond losses have outweighed stock gains dramatically (especially post-Fed). The question is – what happens next?

The drop in global debt and equity values in Q4 2016 is very reminiscent of the drop into 2015's Fed rate hike… which did not end well…

But, the last time that global stocks and global bonds decoupled so aggressively was following the end of QE3… here's what happened next…

But it's probably different this time, right? China is fine (oh wait, failed auctions and liquidity crisis), Europe is fine (oh wait, Italian banks are collapsing), and the US economy is great (oh wait, automakers are shuttering plants due to credit-created excess inventory).

…read more

Source: Trump’s Trillion-Dollar Loser – What Happens Next?

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By Tyler Durden

While the market, and various pundits and economists have been mostly focused on the still to be disclosed details of Trump’s infrastructure spending aspects of his fiscal plan, “one of the least talked about but possibly most important tax shifts in the history of the United States” is, according to DB, House Speaker Paul Ryan’s and President-elect Trump’s “border tax adjustment” proposal.

This is part of the “Better Way” reform package and also figures prominently in the writings of senior Trump administration officials.

What is it?

Put simply, the proposal would tax US imports at the corporate income tax rate, while exempting income earned from exports from any taxation. The reform would closely mirror tax border adjustments in economies with consumption-based VAT tax systems. If enacted, the plan will likely be extremely bullish for the US dollar. What’s more, it would have a transformational impact on the US trade relationship with the rest of the world. Consider the below:

• A “border tax adjustment” would, roughly speaking, be equivalent to a 15% one-off devaluation of the dollar. Imports would be 20% more expensive, because corporates would have to pay the new 20% corporate tax rate on their value. Exports would be roughly 12% “cheaper”, because for every $33 of earnings earned from $100 of exports (we use the 33% gross margin of the S&P), there would be a 12% tax cost ($33 earnings*35% current tax rate) that would no longer be imposed on corporates. Taking the average impact on the prices of exports and imports is equivalent to a 15% drop in the dollar.
• A border tax adjustment would be very inflationary. The price of exports doesn’t affect the US consumption basket so would have no impact on CPI. However, the cost of imports would go up by 20%, which based on a simple relationship between import PPI and US inflation would be equivalent to a 5% rise in the CPI. Corporates may of course choose to absorb part of the rise in import costs in their profit margins. But either way, the order of magnitude is large.
• A border tax adjustment would be very positive for the US trade balance. Similarly to the dollar calculations, a border tax adjustment would be equivalent to an across the board import tariff of 20% and an export subsidy of 12%. Keeping all else constant and applying standard trade elasticity impact parameters to an average of the two estimates results in a more than 2% drop in the trade deficit equivalent to more than 400bn USD, or equivalently, an almost complete closing of the US trade deficit.

In other words, should the “border tax proposal” pass, it would not only send inflation soaring, while eliminating the US trade deficit – a long-time pet peeve of Trump – it would also be the trade-equivalent of a 15% USD devaluation, even as it leads to an offsetting surge in the actual value of the dollar.

To be sure, there are uncertainties related to all estimates above. First, there is …read more

Source: Why Trump’s "Border Tax Proposal" Is The "Most Important Thing Nobody Is Talking About"

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By Tyler Durden

Since November 8th, disaffected Democrats have tried and failed repeatedly to undo the 2016 Presidential election. First their was the failed recount effort launched by Jill Stein, an obvious front for the Clinton campaign, in Wisconsin, Michigan and Pennsylvania. Embarrassingly, that effort actually resulted in a wider margin of victory for Trump but not before Stein wasted $7 million raised from devastated Hillary supporters.

Then there was the coordinated efforts of the White House, other prominent democrats and the mainstream media to turn the Electoral College against Trump, because Russia. Ironically, that effort too resulted in a wider margin of victory for Trump as only 2 electors refused to vote for him while 5 electors abandoned Hillary. Anyone else noticing a theme here?

Now, with the Electoral College vote done and no other options left, the angry, demoralized dems have turned their fury toward the FBI with allegations that the warrant issued for Anthony Weiner’s computer did not “give rise to probable cause” which must therefore imply some nefarious collusion between James Comey, Trump and Putin.

Per Bloomberg, attorney Randol Schoenberg sued for the warrant to be released and has since expressed that he is “appalled” by its contents which failed to present “probable cause.”

Schoenberg said he sought the documents because he couldn’t figure out why a judge found there was probable cause that a crime was committed, given that the FBI had already concluded its investigation of Clinton’s e-mails and not charged her.

“I see nothing at all in the search-warrant application that would give rise to probable cause,” attorney Randol Schoenberg, who sued on Dec. 12 for the release, said in an e-mail after reviewing the documents. A judge is required to find probable cause that a crime may have been committed before issuing a warrant.

“I am appalled,” he added.

We assume Schoenberg simply missed the following two paragraphs which point out that FBI agents, without reviewing contents, happened upon “thousands of emails” sent to/from Huma Abedin using State Department email addresses around the same time they know that classified information was sent out over unclassified systems.

If that’s not enough, perhaps Mr. Schoenberg could comment on whether the following Reddit thread from Hillary’s IT guy “would give rise to probable cause” (see “Dear FBI, This Is Intent: Hillary’s “Oh Shit” Guy Sought Reddit Advice On How To ‘Strip VIP’s Emails’“).

Combetta started the thread on July 24, 2014 with the following question seeking technical advice on how to “strip out a VIP’s (VERY VIP) email address from a bunch of archived email[s].” “Ironically,” the day before the Reddit thread appeared, the Benghazi Committee reached an agreement with the State Department on the production of email and other records related to their investigation.

But sure, Mr. Schoenberg, we’ll take your word for it. No reason at all for alarm when “thousands of emails” from State Department addresses, which could contain sensitive, classified information, just happen to show up on the …read more

Source: FBI Warrant For Clinton Emails Released As Democrats Slam Decision: "I Am Appalled"

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