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The Gretchen Carlson v. Roger Ailes case deepened after decades-old sexual harassment claims surfaced on Saturday. …read more

Source: Carlson v. Ailes case deepens

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By Tyler Durden

When FBI director James Comey stunned America last week by exonerating Hillary Clinton for being “grossly negligent” in her abuse of professional duties, but not criminal, he opened up a whole new can of worms for the presidential candidate, namely that she had repeatedly perjured herself and lied to both Congress and the American people.

As a result, House Republicans said Thursday they would seek a new FBI probe whether Clinton lied to Congress about her handling of classified information, as well as whether she perjured herself under oath during an 11-hour testimony before the House Select Committee on Benghazi, That referral could lead to a new investigation, once again putting Clinton under the glare of the Justice Department.

It will hardly be difficult for an objective investigation to refute that Hillary lied: here is a brief summary of points which Hillary has made both on Capitol Hill and elsewhere, which the FBI report officially refuted:

“I did not email any classified material to anyone on my email”

As the Hill reminds us, this was one of first claims that Clinton made about her email setup, in a press conference at the United Nations shortly after it was revealed last year. We now know that more than 2,000 emails now contain information considered classified, but most of that was upgraded after it was sent. According to Comey, a total of 113 emails contained information that was classified at the time the messages were sent or received. Among those are eight threads containing 22 emails classified as top secret — the highest tier of classification. “There was classified material emailed,” Comey told the House Oversight Committee on Thursday.

“It was allowed, but it was not a good choice”

Clinton has repeatedly described her email setup as permitted under the letter of the rules, though perhaps “unwise” as she put it in the middle of her Benghazi Committee testimony. Both the State Department’s inspector general and the FBI disagree with that claim. The department’s internal watchdog released a harshly critical report earlier this year saying that the setup “would not” have been approved, had Clinton sought permission. Had employees within the FBI had a similar system, Comey testified this week, they might have been subject to a range of punishments up to and including being fired. “You could be walked out or, depending on the nature of the facts, you could be reprimanded,” the FBI director testified in the House.However, the bureau would not have been able to prosecute them for federal crimes, he added. And there would be no punishments that could be handed down after the official had left office.

“I provided the department with all of my work-related emails, all that I had”

Hillary also claimed repeatedly that all of her work-related messages were contained within the roughly 30,000 messages given to the State Department in 2014. Another batch of a similar size was purely personal, she has said, and those messages destroyed. …read more

Source: Hillary’s Seven Biggest Lies Refuted By The FBI, And The "Smoking Gun"

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By Tyler Durden

Having previously been exposed as a 'scam', the petition – with over 4.1 million signatures – for a second UK referendum has officially been rejected by the British government.

On June 23, on a 72 percent turnout, 52 percent (17.4 million people) voted in favor of Britain leaving the European Union.

This prompted a teddy-bear-throwing temper-tantrum among the elites (for not listening to their demands) as well as many younger Brits that it's just not fair… and so a petition was launched:

“We the undersigned call upon HM (Her Majesty's) government to implement a rule that if the remain or leave vote is less than 60 percent based a turnout less than 75 percent there should be another referendum,” the petition said.

And gathered 4.1 million signatures (well over the 100k required to prompt a parliamentary debate), despite questions over the validity of many of those signatures.

But today, as Reuters reports, the British government formally rejected the petition calling for a second referendum on Britain's membership of the EU.

The Foreign Office, the ministry that had steered through parliament the EU Referendum Act setting out the rules, responded that the legislation did not set a threshold for the result or for minimum turnout.

“The Prime Minister and Government have been clear that this was a once in a generation vote and, as the Prime Minister has said, the decision must be respected,” it said.

“We must now prepare for the process to exit the EU and the Government is committed to ensuring the best possible outcome for the British people in the negotiations.”

Both candidates to replace David Cameron as leader of the ruling Conservative Party and prime minister have said the result of the referendum should not be questioned and Brexit should be delivered.

“Brexit means Brexit,” front-runner Theresa May, the interior minister, said in a speech announcing her bid. May had advocated staying in the bloc, but was not a leading figure in the “remain” campaign.

Her rival, junior energy minister Andrea Leadsom, was one of the most passionate advocates of Brexit ahead of the referendum and has said that Britain would flourish outside the EU.

Bregret is back…

…read more

Source: "Remain" Loses Again – British Government Officially Rejects Petition For 2nd Referendum

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By Tyler Durden

Submitted by MN Gordon via EconomicPrism.com,

The existing capital stock continues to be frittered away at the expense of savers and retirees. Nonetheless, central bankers don’t give a doggone about it. This, after all, is one consequence of roughly eight years of near zero interest rate policy.

Another related consequence is that the pricing equilibrium of capital markets has broken down. In particular, bond yields no longer reflect a market determined price of money established by the economy’s demand for credit. Hence, previously unfathomable interest rate movements are now happening with regular occurrence.

Presently, the yield on the 10-Year U.S. Treasury note is sliding into the abyss. On Wednesday a new record low yield of 1.34 percent was reached. This is the lowest historical yield we could find based on a review of 10-Year Treasury rate data going back to about 1870.

The last time the interest rate cycle bottomed out was during the early 1940s. The low inflection point at that time was somewhere around 2 percent. Where and when rates will finally turn this time is anyone’s guess.

In the meantime, who in their right mind is plowing their hard earned money into Treasuries at these negligible returns? Obviously, it’s better than the negative rate of return that Swiss 50-year bonds are yielding. But come on. Is it not conceivably possible, with the Fed’s desired 2 percent inflation target, that inflation could run-up above 1.34 percent at some time over the next decade?

A Matter of Life or Death

By way of full disclosure, we’ve been anticipating the conclusion of the great Treasury bond bubble for about 8 years – possibly longer. After a 25-year soft slow slide down from a peak above 15 percent in 1981, it only seemed logical that yields would bottom out around 2 percent and then resume a new, generation long uptrend. So far this hasn’t happened. Yields, in practice, have gone down…and then they’ve gone down some more.

In hindsight, we’ve come to recognize that for a number of years we didn’t fully appreciate the significance of one very important component to this credit cycle. Moreover, it’s something that’s unlike the last credit cycle.

Specifically, with a fiat based paper money system, and extreme central bank intervention, we didn’t account for just how far the limits of illogicality could push beyond what is honestly conceivable. Perhaps a better imagination was needed.

Over the last few years we’ve made painstaking efforts to recalibrate our expectations. Namely, we’ve done away with them.

But just because we have no expectations doesn’t mean we are indifferent. To the contrary, we are far from indifferent. We observe 10-Year Treasury yield movements with the same acute interest we observe an amorphous skin discoloration appearing on our torso.

What do each day’s slight changes mean? Will they eventually become a matter of life or death? These are the questions. What are the answers?

Larry Summers Wants to …read more

Source: Larry Summers Wants To Give You A Free Lunch

    

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