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Former DOJ Prosecutor Sues Obama, Black Lives Matter And Eric Holder For Inciting Race War

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By Tyler Durden

In a lawsuit filed in Texas, Larry Klayman – a former prosecutor for the U.S. Department of Justice and founder of the conservative watchdog organizations Judicial Watch and Freedom Watch – has accused President Obama, Black Lives Matter founders and former U.S. Attorney General Eric Holder among others, of fueling a race war that led to the murder of police in Dallas last week. The lawsuit seeks “to redress the incitement, threats and killings provoked by the defendants.“

In his lawsuit, Klayman also named Al Sharpton and Nation of Islam leader Louis Farrakhan in the suit. The lawsuit, filed Saturday in Dallas, alleges that the defendants are guilty of civil rights violations, terrorist promotion of gang activity, and aiding and abetting murder.

The defendants are accused of “inciting the imminent serious bodily injury and killing of police officers and other law enforcement persons of all races and ethnicities, Jews, and Caucasians by convincing their supporters and others that there is a civil war between blacks and law enforcement, thereby calling for immediate violence and severe bodily injury or death in response to that non-existent and fictitious threat.”

Klayman had this to say upon the filing of this class action complaint:

“It’s time that law enforcement, such as the plaintiffs in this case, including myself, come forward by peacefully attempting to use the legal system to redress the incitement, threats and killings provoked by the defendants in this class action case. I am hopeful that I will be joined by other law enforcement to join in the suit. For too long, law enforcement and others, including white and non-white Jews and Christians, have remained silent, scared to speak and act, for fear of being branded racists over the fear of being threatened and harmed by the defendants and their accomplices. This must stop and justice must be done to preserve the integrity of our great nation and to avoid an all out race war that will destroy the freedom that our Founding Fathers dedicated their sacred honor, their fortunes and risked their lives for.”

The case seeks damages of more than $2 billion.

Watch the latest video at video.foxbusiness.com

For more information or an interview, contact leklayman@yahoo.com and see www.freedomwatchusa.org or call 561-558-5336.

The full lawsuit is below (link):

…read more

Source: Former DOJ Prosecutor Sues Obama, Black Lives Matter And Eric Holder For Inciting Race War

    

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Steller 30Y Auction Sees Highest Foreign Central Bank Buying On Record, Helped By Short Squeeze

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By Tyler Durden

Heading into today’s 30Y auction, Stone McCarthy said that “specials galore”, noting that “though pressure might have eased up on the 3-year and 10-year, it has tightened on the 5-year and 2-year notes. Both issues are trading special at zero basis points this morning. Most off the run issues are still trading near GC, though the old 30-year bond is a bit tight at 25 basis points.”

That hinted to us that there may be a small short squeeze as the US sells $12 billion in 30Y bonds today, helping the auction following this week’s disastrous 3 and 10Y auctions, and sure enough moments ago the high yield on the 30Y printed at 2.172%, stopping through the 2.176% When Issued.

However, the high yield was just the beginning for this spectacular auction.

The bid to cover jumped from 2.423 to 2.485, the highest since last September’s 2.536.

But the real story was the internals, where 68.5% was allotted to Indirect Bidders – this was the biggest allottment to foreign central banks and official buyers on record. Directs took down 8.4% of the auction and Dealers were left with 23.1%, the lowest on record as well.

So while demand may have been lacking for shorter maturities, when it comes to longer durations, 2.17% is seemingly a tremendous bogey and everyone wants a piece.

…read more

Source: Steller 30Y Auction Sees Highest Foreign Central Bank Buying On Record, Helped By Short Squeeze

    

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Why Trump isn’t scaring the stock market

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The usual Wall Street reaction to a shock like Trump is to sell, sell, sell. Yet so far, Trump isn’t scaring investors. Stocks are at all-time highs. …read more

Source: Why Trump isn’t scaring the stock market

    

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Be Aware, But Not There! National ‘Day of Rage’ Scheduled For July 15th, 2016

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By Tyler Durden

Via The Feral Irishman,

The hacktivist group Anonymous is now calling for nationwide Day of Rage protests on Friday, July 15th. The video below promotes the protests.

(WARNING: There is some disturbing and graphic violence in this video):

Use this as a list of places NOT to be on Friday the 15th. While the video by Anonymous does specify non-violence and denounces the actions taken against police officers that were not involved in these deaths, with the tagline “Day of Rage” I think it’s safe to expect emotions to be running very high on both sides of the line. No matter how great your empathy might be for those who have unjustly lost their lives, these protests are not safe places to be.

These are the locations and times for the protests:

  • Phoenix: 5:00PM (EASTLAKE PARK, 1549 E Jefferson St , Phoenix, AZ 85034)
  • Tuscon: 5:00PM (CATALINA PARK, 900 N 4th Avenue, Tucson, AZ 85705)
  • Little Rock: 6:00PM (OUTSIDE STATE CAPITOL BUILDING, Dr Martin Luther King Jr Dr., Little Rock, AR 72201)
  • San Francisco: 4:00PM (CIVIC CENTER PLAZA, 355 Mcallister St, San Francisco, California 94102)
  • Oakland: 4:00PM (FRANK OGAWA PLAZA, 1 Frank H Ogawa Plaza, Oakland, CA 94612)
  • Los Angeles: 4:00PM (LEIMERT PLAZA PARK, 4395 Leimert Blvd., Los Angeles, CA 90008)
  • Denver: 5:00PM (CIVIC CENTER PARK, 100 W 14th Ave Pkwy, Denver, Colorado 80204)
  • Washington DC: 7:00PM (OUTSIDE WHITE HOUSE, 1600 Pennsylvania Ave NW, Washington, DC 20500)
  • Atlanta: 7:00PM (OLD DECATUR COURTHOUSE, 101 E Court Sq, Decatur, GA 30030)
  • Tampa: 7:00PM (OUTSIDE HILLSBOROUGH COURTHOUSE, 800 E Twiggs St, Tampa, FL)
  • Orlando: 7:00PM (LAKE EOLA PARK, 195 N Rosalind Ave, Orlando, Florida 32801)
  • Miami: 7:00PM (GWEN CHERRY PARK, NW 71 St., Miami, Florida, 33147)
  • Chicago: 6:00PM (RICHARD J DALEY CENTER, 50 W Washington St, Chicago, Illinois 60602)
  • Des Moines: 6:00PM (IOWA STATE CAPITOL, 1007 E Grand Ave, Des Moines, IA 50319)
  • New Orleans: 6:00PM (LAFAYETTE SQUARE, New Orleans, LA 70130)
  • Baltimore: 7:00PM (201 E Pratt St, Baltimore, MD 21202)
  • Boston: 7:00PM (MASSACHUSETTS STATE HOUSE, 24 Beacon St, Boston, MA 01233)
  • Detroit: 7:00PM (Campus Martius Park, Detroit, Michigan 48226)
  • Lansing: 7:00PM (STATE CAPITOL BUILDING, Capitol Avenue at Michigan Avenue, Lansing, MI 48933)
  • Ann Arbor: 7:00PM (THE DIAG, Burns Park, Ann Arbor, MI 48109)
  • Minneapolis: 6:00PM (MINNEAPOLIS URBAN LEAGUE, 2100 Plymouth Ave N, Minneapolis, MN 55411
  • St. Louis: 6:00PM (GATEWAY ARCH, St. Louis 63102)
  • Carson City: 4:00PM (NEVADA STATE CAPITOL BUILDING, 101 N Carson St, Carson City, Nevada 89701)
  • Manhattan, NY: 7:00PM (TIMES SQUARE, Manhattan, NY, 10036)
  • Newark: 7:00PM (NEWARK CITY HALL, 920 Broad Street, Newark, New Jersey 07102)
  • Durham: 7:00PM (200 E. Main St. Durham, North Carolina)
  • Columbus: 7:00PM (GOODALE PARK, Columbus, Ohio 43215)
  • Cleveland: 7:00PM (CLEVELAND PUBLIC LIBRARY, 325 Superior Ave E, Cleveland, Ohio 44114)
  • Portland: 4:00PM (PIONEER COURTHOUSE SQUARE, 701 SW 6th Ave, Portland, Oregon 97204)
  • Philadelphia: 7:00PM (LOVE PARK, 1599 John F Kennedy Blvd, Philadelphia, Pennsylvania 19102)
  • Pittsburgh: 7:00PM (PITTSBURGH CITY-COUNTY BUILDING, 414 Grant St, Pittsburgh, Pennsylvania 15219)
  • Nashville: 6:00PM (801 Broadway Nashville, TN 37203 Estes Kefauver Federal Building)
  • Memphis: 6:00PM (Health Sciences Park Memphis, TN)
  • Austin: 6:00PM (TEXAS STATE CAPITOL, Outside South Gate-11th and Congress Ave.)
  • Salt Lake City: 5:00PM (SALT LAKE CITY COMMUNITY COLLEGE, 4600 S Redwood Rd, Salt Lake City, Utah 84123)
  • Seattle: 4:00PM (QUEEN …read more

    Source: Be Aware, But Not There! National ‘Day of Rage’ Scheduled For July 15th, 2016

        

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Loonie Surges As BOC Keeps Rate Unchanged, Cuts 2016, 2017 GDP, Blames Brexit, Wildfires, Weak Consumption

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By Tyler Durden

The Bank of Canada did not surprise moments ago when it kept the overnight rate at 0.5%, as expected The Bank said that the “current stance of monetary policy is still appropriate” adding that risks to inflation profile are roughly balanced. It also said that “fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty.”

Where the BOC did surprise was in its latest cut to Canada’s economic outlook: the central bank now expects GDP to grow 1.3% in 2016, 2.2% in 2017, down from 1.7%, 2.3%, respectively.

The BOC said that Real GDP is expected to fall 1% in 2Q, pulled down by “volatile trade flows, uneven consumer spending, and the Alberta wildfires.” It does expect Real GDP to grow 3.5% in 3Q as oil production resumes, rebuilding in Fort McMurray occurs, and the Canada Child Benefit boosts consumer spending. However, that won’t offset the full year slowdown, which sees 2016 growth slased by 0.4%.

Some other points:

  • Brexit to decrease the level of Canada’s GDP by 0.1% over projection period
  • Contribution of exports to average annual real GDP growth in 2016 revised downwards to 0.3 from 1.1 percentage points
  • Bank: Output gap will close near the end of 2017, later than estimated in April, due to downward revisions to business investment
  • Contribution of business fixed investment to average annual real GDP growth in 2017 revised downwards to 0.2 from 0.4 percentage points
  • Recent housing market developments in Vancouver and Toronto have “exacerbated” financial vulnerabilities in the household sector
  • Contraction of investment spending in the oil and gas sector will be nearly complete by end of 2016

The Loonie’s kneejerk reaction shows an immediate relief that the BOC did not cut, although rate cuts may still be coming.

Full statement below:

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway in Canada’s economy proceeds. The fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty.

In this context, the forecast for the global economy has been marked down slightly from the Bank’s April Monetary Policy Report (MPR). Global GDP growth is projected to be 2.9 per cent in 2016, 3.3 per cent in 2017, and 3.5 per cent in 2018. In particular, after a weak start to 2016 the US economy is showing signs of a rebound, with a healthy labour market and solid consumption growth. In the wake of Brexit, global markets have materially re-priced a number of asset classes. Financial conditions, already accommodative, have become even more so.

In Canada, the quarterly pattern of growth has been uneven. Real GDP grew by 2.4 per cent in the first quarter but is estimated to have contracted by 1 per cent in the second …read more

Source: Loonie Surges As BOC Keeps Rate Unchanged, Cuts 2016, 2017 GDP, Blames Brexit, Wildfires, Weak Consumption

    

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South China Sea Tensions Surge After Taiwan Deploys Frigate, China Warns Of "Air Defense Zone"

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By Tyler Durden

Following the much anticipated ruling by the international court which found yesterday that China does not have a right to claims on the South China Sea, an unexpected supporter for China’s position – which has vocally warned it won’t comply with the tribunal’s ruling – emerged overnight when Taiwan, which shares territorial claims with China in the disputed area – sent a naval frigate to patrol the disputed waterway Wednesday, to show the government’s “determination” to defend its national interest.

The order from Taiwan’s president Tsai Ing-wen came just hours after the Permanent Court of Arbitration found found that the largest natural feature in the contested Spratly Islands, the Taiwanese-held Itu Aba, was a “rock” rather than an island and didn’t qualify for a 200-nautical mile (370 kilometer) exclusive economic zone. The frigate’s planned patrol included a resupply stop at the feature, which Taiwan calls Taiping, a defense ministry spokesman said.

Taiping island

As Bloomberg writes, confirming what we said yesterday after the tribunal’s ruling, the decision to deploy the warship could further escalate tensions in the area. China has said it doesn’t recognize the court’s jurisdiction. Overnight, China firmly rejected the verdict claiming its ruling on the South China Sea is both “null and void” with no binding force. Chinese Foreign Minister Wang Yi Tuesday called the South China Sea arbitration a political farce made under the pretext of law.

As a reminder, the ruling, resulting from a challenge brought by the Philippines, invalidated China’s “nine-dash line” claim. China’s assertions cross over with those from countries like Malaysia, Vietnam and the Philippines, and are based on a map created by Taiwan’s Republic of China government in 1947. Taiwan has administered Itu Aba since the 1950s.

The chart below, showing that 40% of Chinese oil imports pass through the contested region, explains why the disputed territory is of vital importance to China. The region is also home to 10% of the world’s commercial ocean fish stock, and lies above an estimated 11 billion barrels in oil reserves.

China also warned Wednesday it was ready to set up an air defense identification zone over disputed waters, repeating a threat it first made one month ago. “If our security is being threatened, of course we have the right to demarcate a zone,” Chinese Vice Foreign Minister Liu Zhenmin said on Wednesday.

A new air defence identification zone (ADIZ) would likely increase tensions not only with the Philippines, but also with other rivals to claims in the South China Sea, including Brunei, Malaysia and Vietnam. China declared an ADIZ over disputed islands in the East China Sea in 2013, a move which caused anger with Japan and the United States.

Vice minister Liu said the islands were China’s “inherent territory”, as he launched a policy paper in response to the ruling. “We hope that other countries will not take this opportunity to threaten China and to work with China to protect the peace and stability of the South …read more

Source: South China Sea Tensions Surge After Taiwan Deploys Frigate, China Warns Of "Air Defense Zone"

    

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Donald Trump Rips Ginsburg: "Her Mind Is Shot, She Should Resign" As NYT Says Trump Is Right

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By Tyler Durden

Following two days of inexplicable attacks by none other than a Supreme Court Justice, who said she would move to New Zealand if Trump were elected, as well as calling Trump “a faker”, the Donald finally snapped and ripped Supreme Court Justice Ruth Bader Ginsburg in a Twitter message late Tuesday. “Justice Ginsburg of the U.S. Supreme Court has embarrassed all by making very dumb political statements about me,” Trump wrote on his Twitter account. “Her mind is shot — resign.”

As Fox notes, Trump has been on the defensive after Ginsburg told the Associated Press last week that she felt he was unqualified for the position. She said in an interview that she didn’t want to think about the possibility that Trump would be president and predicted that Democrat Hillary Clinton would win. Trump told the New York Times earlier Tuesday that her comments were “highly inappropriate” and a “disgrace to the court.”

“It’s highly inappropriate that a United States Supreme Court judge gets involved in a political campaign, frankly … I think she should apologize to the court. I would hope that she would get off the court as soon as possible,” he added.

Senate Majority Leader Mitch McConnell said that it was “totally inappropriate” for Ginsburg to criticize Trump. McConnell said that members of the Supreme Court shouldn’t weigh in on American elections.

“It raises a level of skepticism that the American people have from time to time about just how objective the Supreme Court is, whether they’re over there to call the balls and strikes, or weigh in on one side or another,” he said.

None of the above was unexpected, but in a truly surprising twist none other than liberal media bastion, the NYT, issued an Op-Ed overnight titled “Donald Trump Is Right About Justice Ruth Bader Ginsburg“, in which it said “Justice Ruth Bader Ginsburg needs to drop the political punditry and the name-calling.”

In this election cycle in particular, the potential of a new president to affect the balance of the court has taken on great importance, with the vacancy left by the death of Justice Antonin Scalia. As Justice Ginsburg pointed out, other justices are nearing an age when retirement would not be surprising. That makes it vital that the court remain outside the presidential process. And just imagine if this were 2000 and the resolution of the election depended on a Supreme Court decision. Could anyone now argue with a straight face that Justice Ginsburg’s only guide would be the law?

Judging by the surprising move in swing states which now support Trump over Hillary, it appears that Ginsburg’s intervention may have once again ended up helping Trump at a time when he sorely needed an outside intervention to prop up his presidential chances.

The full NYT Op-Ed is below:

Justice Ruth Bader Ginsburg needs to drop the political punditry and the name-calling.

Three times in the past week, Justice Ginsburg has publicly discussed her view of the presidential race, in the sharpest terms. In an …read more

Source: Donald Trump Rips Ginsburg: "Her Mind Is Shot, She Should Resign" As NYT Says Trump Is Right

    

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No-go: Pokemon Go players face landmark ban

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for latest details. …read more

Source: No-go: Pokemon Go players face landmark ban

    

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UK Parliamentary Report Finds US Allies Are Covertly Funding ISIS

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By Tyler Durden

Authored by MiddleEastEye.net via TheAntiMedia.org,

A British parliamentary report released on Tuesday has concluded there is “historical evidence” the Islamic State (IS) group received funding from within Arab Gulf states.

In evidence submitted to the foreign affairs select committee, the Ministry of Defence said: “[There] is historical evidence of financial donations to Daesh [IS] from within Gulf states. Furthermore, it is understood that family donations are being made to Daesh, through the unregulated Alternative Value Transfer Systems (AVTS).”

AVTS include ways of globally transferring money that includes little information about the individuals involved in the transaction – examples include the open source online currency Bitcoin.

The MoD cited as evidence an incident in September 2014 when an IS official was sanctioned by the US Treasury Department after receiving a $2m donation “emanating from the Gulf”.

The MoD also said in its evidence that private donations to IS are “minimal” compared to its other revenue streams, which include oil and taxation.

The committee said in an assessment of IS finances that Britain should be able to “ask hard questions of close friends” when discussing how donations have reached the Syria-Iraq based militant group.

The report concluded that IS has been put under severe financial pressure after a sustained international campaign that has forced the group to turn to “gangsterism and protection rackets” for money.

The report argued that plunging oil prices and air strikes on IS in Syria and Iraq have reduced the group’s ability to operate, however, the most controversial part is undoubtedly the section on donations to IS.

While the government told the committee that it had no evidence any country had provided funding to IS as a “matter of policy,” concerns were raised in the report about how Gulf states responded to the group’s initial rise to prominence, before and around the time of its seizing of the Iraqi city Mosul in June 2014.

The MoD said Turkey, Saudi Arabia, Kuwait and Qatar have played an “important role” in the anti-IS coalition, but officials from the Foreign Office said “some governments in the region may have failed to prevent donations reaching ISIL (IS) from their citizens”.

Middle East Minister Tobias Ellwood told the committee that after IS “first caught international attention,” the group “may have been perceived as a defender of Sunni Muslims in the wars in Iraq and Syria”.

Former Iraqi prime minister Nouri al-Maliki – who was in office between 2006 and 2014 – was repeatedly accused of favouring his Shia Muslim sect and oppressing Iraqi Sunni Muslims.

In Syria, where a brutal civil war has raged since early 2011, President Bashar al-Assad has also been repeatedly accused of specifically targeting Sunni Muslims who desire his overthrow.

Ellwood said that the period of IS being viewed as a defender of Sunnis was “before 2014”. Dan Chugg, head of the Foreign Office’s ISIL Task Force, told the committee that “around two years ago” IS “may have been able to attract donations from sympathetic Sunnis, with the wealthiest states in the region – the Sunni monarchies of the Gulf …read more

Source: UK Parliamentary Report Finds US Allies Are Covertly Funding ISIS

    

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UK Fund Managers Start Dumping Properties, Admit "Real Estate Needed Re-Pricing"

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By Tyler Durden

The uncomfortable moment of truth has arrived for property funds in the UK (and their investors). Following the initial tumble of the post-Brexit dominoes – eight major funds so far either gating redemptions or forcing massive haircuts on to investors who want out – contagion concerns even woke up Britain's regulators (and central bank) as fears of Bear-Stearns-esque forced liquidations spread; and now, as The FT reports, that is what has just started.

With every UK property fund knowing every other UK property fund needs to sell assets (real physical illiquid property) to meet cash calls (in their unreal faux-liquidity funds), the game-theoretical first-mover advantage has begun with Henderson Global Investors, which has begun offloading prime assets to provide liquidity to investors… (as The FT details)

The major fund plans to sell 440 Strand, the headquarters of the private bank Coutts, by the end of 2016.

The property, bought for £175m in 2014, was valued at £220m before the Brexit vote and will be formally brought on to the market in the autumn by the suspended Henderson UK Property fund, according to two people briefed on the plans.

The sale of 440 Strand is one of a number of disposals expected to follow the suspensions of seven property funds last week after investors rushed for the exit following the UK’s vote to leave the EU. Henderson, which manages the fund through TH Real Estate — its joint venture with the US retirement provider TIAA-CREF — declined to comment.

Funds holding more than £15bn of investors’ money are preventing redemptions, including the UK’s largest property fund, M&G’s £4.3bn Property Portfolio, and funds from Standard Life, Henderson, Aviva, Columbia Threadneedle and Canada Life.

Aberdeen Asset Management, which suspended its fund for a shorter period than the others — until July 13 — has begun marketing properties including an office building at 10 Hammersmith Grove, the UK headquarters of Fox International, a division of 21st Century Fox.

Early bids on the buildings Aberdeen is marketing indicated yields 50 basis points higher than before the Brexit vote, according to people briefed on the sales.

This indicates there will be discounts, but [ZH – we note The FT's carefully scripted “do not panic” edit here] not the steep drops in price seen during the 2008 financial crisis.

But given the following chart as an example of the 'liquidity gap' between fund-level liquidations and the exuberant UK real estate market, things could get ugly very quickly…

Perhaps even more troubling is the reality that you sell what you can, not what you want to…

Property funds are expected to focus initially on disposing of “prime” assets, which will be easier to sell in uncertain markets, agents said.

Investors are more worried about properties in sectors thought to be vulnerable to Brexit, such as London offices.

Which suggests the lower-quality assets could be severely impaired, just as Richard Divall, head of cross-border capital markets at the property advisers Colliers, admitted:

“Brexit has caused short-term panic and stalling to …read more

Source: UK Fund Managers Start Dumping Properties, Admit "Real Estate Needed Re-Pricing"

    

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