From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Latest News From November 18, 2016 to November 24, 2016:

• We Are Being Set Up For Higher Interest Rates, A Major Recession And A Giant Stock Market Crash
  Since Donald Trump’s victory on election night we have seen the worst bond crash in 15 years.  Global bond investors have seen trillions of dollars of wealth wiped out since November 8th, and analysts are warning of another tough week ahead.  The general consensus in the investing community is that a Trump administration will mean much higher inflation, and as a result investors are already starting to demand higher interest rates.  Unfortunately for all of us, history has shown that higher interest rates always cause an economic slowdown.  And this makes perfect sense, because economic activity naturally slows down when it becomes more expensive to borrow money.  The Obama administration had already set up the next president for a major recession anyway, but now this bond crash threatens to bring it on sooner rather than later.
• John Bolton Warns That Obama May Divide The Land Of Israel At The UN Before The Inauguration
  Is Barack Obama about to make the most catastrophic decision of his entire presidency? Former UN Ambassador John Bolton is warning that there is “a lot of speculation” over at UN headquarters right now about “resolutions that recognize a Palestinian state or that try and set a boundary for Israel based on the 1967 ceasefire lines”. Of course this would have to happen before the inauguration of Donald Trump on January 20th, because Trump has already made it quite clear that he will not support any UN resolution of such nature. Knowing that Trump is about to take office, advocates of the “two state solution” are putting an immense amount of pressure on Obama to support a UN Security Council resolution that would permanently divide the land of Israel while he is still in the White House, and at this moment we do not know what Barack Obama’s final decision will be.
• US Pension Crisis: This is How Families Get Squeezed to Bail Out Pension Funds in Chicago
  Chicago is another trailblazer. But it’s not alone. Other cities are lining up behind it. Bankruptcy may still be the route to go. But until then, homeowners, renters, drivers, users of phones, etc. – in other words regular families who’re just sitting ducks – are going to get squeezed dry, in order to slow the momentum of the public-employee pension crisis eating up the city’s and the school district’s finances. “Because of a new accounting rule, Chicago now has to report its pension debt on its balance sheet,” explains Truth in Accounting. “As a result, the city’s reported pension debt grew from $8.6 billion in 2014 to $33.8 billion in 2015.”
• What’ll Happen to Housing Bubble 2 as Mortgage Rates Jump?
  In the few days since the election, we got a flavor of what might happen when the bond market sees hues of inflation, expects the Fed to respond, and suddenly (after years of closing its eyes to it) dreads a tsunami of government deficit spending, on top of the flood of deficit spending already washing over the land. The US government borrowed on average $850 billion per year over the last two fiscal years, in total $1.71 trillion. Very soon, the gross national debt will hit $20 trillion. And with a little help from the next administration’s plans, the annual new debt to be issued by the US government could balloon far beyond $1 trillion a year.
• Who’ll Get Hit by Fallout from the $11-Trillion Commercial Property Bubble in the US?
  Warnings about the loans, bonds, and commercial-mortgage-backed securities (CMBS) tied to the vast $11-trillion commercial property sector in the US have been hailing down for months. Moody’s Investor Services just warned about the rising delinquency rate of some $360 billion in CMBS it rates. Delinquencies of 60+ days jumped from 4.6% last year to 5.6% in September. Fitch Ratings has been fretting about valuations in the sector, and CMBS, for months. “Valuation and lending trends are not sustainable in the medium term,” it said most recently in its November report. It pinpointed debt backed by apartment buildings as a particular trouble spot. But now it’s also fretting about construction loans, which “experienced the highest loss severity in the last crisis, and we expect a similar trend in the next downturn,” it said.
• Jim Rickards Discusses Looming Shut Down of the Entire US Economy
  In the following interview, legendary investor Jim Rickards echoes almost verbatim what Peter Schiff and Michael Snyder said recently in a post titled, Peter Schiff: Making America Great Again Will Be Much Harder Than Voters Think. In just a few short minutes, Jim confirms what myself and so many others have been trying to warn our readers about for well over a year now, which is that collapse of the global economic system is imminent. To put things in perspective, consider the fact that Deutsche Bank's derivative exposure alone, is more than 3x the continent of Europe's annual GDP, and that's just one bank.
• Now it Begins to Unravel – The Credit Bubble Peak was Marked by “Totally Crazy Lending.”
  Debt is good. More debt is better. Funding consumer spending with debt is even better – that’s what economists have been preaching – because the consumed goods and services are gone after having been added to GDP, while the debt, which GDP ignores, remains until it is paid off with future earnings, or until it blows up. Corporations too have gone on a borrowing binge. Unlike consumers, they have no intention of paying off their debts. They issue new debt and use the proceeds to pay off maturing debts. Funding share-buybacks and dividends with debt is ideal. It’s called “unlocking value.” Debt must always grow. For that purpose, the Fed has manipulated interest rates to rock bottom. Actually paying off and reducing debt has the dreadful moniker, bandied about during the Financial Crisis, “deleveraging.” It’s synonymous with “The End of the World.”
• 2017 Predictions for MSM, Markets and Gold-Gerald Celente
  Top trends researcher Gerald Celente started forecasting back in May 2016 that Trump would win. He was spot-on. What are the big trends and predictions in store for 2017? Mr. Celente gives us three of his top predictions coming up in this interview. We start with the mainstream media (MSM) that went all in for Hillary Clinton with actions associated with propaganda and not news. What’s going to happen to the MSM in 2017? Celente, who is Publisher of The Trends Journal, says, “It’s gone, and that is the top story coming out in the next Trends Journal too. . . . We are forecasting that this is the end of daily newspapers. They’ll go down to a couple of days a week. The flipside is more people to USAWatchdog.com and other media. We are not alternative media. They are the alternative media. They are the media that only promotes the establishment. The establishment is Hollywood to the White House to the media, and the people are disgusted with it. This is bigger than a populist movement.”
• Self-driving car startup nuTonomy will begin testing its cars in Boston soon
  NuTonomy, a self-driving car startup spun out of MIT and based in Cambridge, Mass., will soon begin testing its autonomous vehicles in Boston. The company, which launched a commercial self-driving pilot in Singapore in August, has been given permission to operate its vehicles in the city’s Raymond L. Flynn Marine Park. NuTonomy, which also recently forged a partnership with Southeast Asia’s homegrown ride-hail player Grab, is moving relatively quickly toward its goal of launching a full-fledged on-demand network of self-driving cars in Singapore by 2018. (We rode in the self-driving car that is now operating in Singapore’s business district.)
• FOMC Minutes Confirm Rate Hike Imminent “To Preserve Credibility”
  A lot has changed since the November 2nd FOMC statement – most notably the world has suddently become awesome again. The relatively benign statement (and election result) has left rate-hike odds at 100% for December but comment from Fischer and Yellen since have hinted concerns at the need for Trump fiscal spendfest. The main risk going in to the minutes was a dovish tilt for the future, tamping the current ‘nothing can stop us now' attitude (and we note the dollar leaked lower into the release). But sure enough, The Fed confirmed a rate-hike was approrpoate “relatively soon” and was “important to Fed credibility.”
• Dallas Mayor Admits Police Pension Pushing City Toward “Fan Blades Of Municipal Bankruptcy”
  A few months ago we wrote that the Dallas Police and Fire Pension Fund was on the verge of collapse after a series of shady real estate investments resulted in massive markdowns of pension assets, the ouster of the fund's CIO and an FBI raid of it's largest real estate investment manager (see “Dallas Cops' Pension Fund Nears Insolvency In Wake Of Shady Real Estate Deals, FBI Raid”).  We summed up the fund's dilemma as follows: ‘The Dallas Police & Fire Pension (DPFP), which covers nearly 10,000 police and firefighters, is on the verge of collapse as its board and the City of Dallas struggle to pitch benefit cuts to save the plan from complete failure.  According the the National Real Estate Investor, DPFP was once applauded for it's “diverse investment portfolio” but turns out it may have all been a fraud as the pension's former real estate investment manager, CDK Realty Advisors, was raided by the FBI in April 2016 and the fund was subsequently forced to mark down their entire real estate book by 32%.  Guess it's pretty easy to generate good returns if you manage a book of illiquid assets that can be marked at your “discretion”.'
• Obama Says He's Had A Scandal-Free Administration. Here Are 11 of His Scandals.
  President Barack Obama—who isn't going away after he leaves office—just unleashed this massive whopper: “I'm extremely proud of the fact that over 8 years we have not had the kinds of scandals that have plagued other administrations.” This is demonstrably false. Obama's presidency has been mired with numerous scandals that would be blared on the news 24/7 if he were a Republican. But because he's a Democrat, too many people buy Obama's argument that his presidency has been scandal-free.
• Goldman Sachs Drops Out of R3 Blockchain Group
  Goldman Sachs Group Inc. has dropped out of the R3 CEV LLC blockchain group. The investment bank was one of nine original members of R3, founded in 2014 to explore the use of the distributed database technology in Wall Street infrastructure. The technology, best known for underpinning the system that trades the virtual currency bitcoin, has garnered increasing attention as a way banks can save billions of dollars and make old-fashioned processes faster and more efficient. But not all blockchain firms are the same, with different banks backing different ventures to exploit the technology. As of Oct. 31, Goldman let its membership lapse in R3, one of the higher profile efforts, but the firm will continue to work with blockchain technology, a spokeswoman for the investment bank said.
• The Big Short: is the next financial crisis on its way?
  In the Oscar-winning The Big Short, Steve Carell plays the angry Wall Street outsider who predicts (and hugely profits from) the great financial crash of 2007-08. He sees sub-prime mortgages rated triple-A but which, in reality, are junk – and bets billions against the banks holding them. In real life he is Steve Eisman, he is still on Wall Street, and he is still shorting stocks he thinks are going to plummet. And while he’s tight-lipped about which ones (unless you have $1m to spare for him to manage) it is evident he has one major target in mind: continental Europe’s banks – and Italy’s are probably the worst. Why Italy? Because, he says, the banks there are stuffed with “non-performing loans” (NPLs). That’s jargon for loans handed out to companies and households where the borrower has fallen behind with repayments, or is barely paying at all. But the Italian banks have not written off these loans as duds, he says. Instead, billions upon billions are still on the books, written down as worth about 45% to 50% of their original value.
• Initial Jobless Claims Collapse To Lowest In 43 Years – The US Economy Fell Into Recession Immediately After
  After an ugly October, November has seen two straight weeks of improvements in initial jobless claims (plunging 11.6%, 31k – the most since Jan 2015 – to 235k). This is the lowest initial jobless claims since Nov 1973… The US Economy fell into recession the next month.
• UN recommits to combating climate change
  Approximately 200 nations on Thursday reaffirmed their commitment to combating climate change enshrined by the Paris Agreement at the annual UN climate conference in Morocco.
  This came amid fears that the incoming US administration would backtrack on the deal. A “Marrakesh Action Proclamation” issued at the conference called on member states to boost funding for projects to cope with the effects of climate change. “We call for the highest political commitment to combat climate change, as a matter of urgent priority,” the statement read.
• Cash Crisis in India Hitting Gold Sales Hard
  The domestic gold market in India is facing an upheaval as traders place an increasing number of bulk, short-term orders on fears Prime Minister Narendra Modi could seriously throttle overseas imports of gold. The traders’ fears stem from Modi’s plan to eliminate so-called black money from India’s monetary system by demonetizing the 500 and 1,000 rupee notes. The bills were previously the country’s largest currency denomination. Modi’s hard-line demonetization efforts are meant to root out untaxed funds held in secret by Indian citizens. It’s estimated up to a third of the country’s annual demand (1,000 tons of gold) is paid for with black money. The intent of demonetization was to cut down on corruption by targeting Indians holding “large amounts of undeclared wealth to deposit the money at banks and make their assets official,” according to the L.A. Times.
• U.S. economy is running below potential, Chicago Fed gauge shows
  A measure of national economic activity improved in October but its less-volatile, three-month average weakened, according to the Chicago Federal Reserve on Monday — one sign that below-potential economic growth could limit Fed aggressiveness with interest-rate hikes. The Chicago Fed national activity index rose to negative 0.08 in October from negative 0.23 in September as factory production, housing and consumer spending, as well as the business orders that make up the index mostly improved; employment had a neutral effect. The October reading still shows U.S. economic growth running below its potential.
• The “Trump Effect” Now Versus Later
  Peter Schiff recently appeared on Alternative Media Television (AMTV) to discuss the so-called “Trump effect” on the US economy. So far, the stock market has gone through some downs after the president-elect’s surprise win and now back up with the Dow Jones average nearing record highs. There’s also been last week’s bond rout, which sent long-term yields soaring as bond prices dropped. The yield on the 10-Year Treasury saw its largest two-week increase since 2001, up 5.9 basis points to 2.337%. The selloff was driven by “rising inflation expectations and the market’s near-certainty that the Federal Reserve will raise interest rates in December,” according to MarketWatch.
• Trump Says He Will Issue Executive Order On First Day In Office Withdrawing U.S. From TPP
  In a video message released moments ago by Donald Trump, the President-Elect announced that he has asked his team to develop a list of executive actions for his first day as president and announced that he would issue an executive order on his first day of office, withdrawing the US from the Trans Pacific Partnership, and would issue a notification of intent to withdraw from the TPP, voiding Obama's “free-trade legacy.” Trump stated that his agenda “will be based on a simple core principle, putting America first… whether it's producing steel, building cars, or curing disease, I want the next generation of production and innovation to happen right her on our great homeland.” He added that he would issue a rule, along the lines of what he proposed during his Gettysburg address, that for every new government regulation, two existing regulations must be eliminated, and said that he will direct the labor department to investigate abuses of visa programs.
• Former CEO Of UBS And Credit Suisse: “Central Banks Are Past The Point Of No Return, It Will All End In A Crash”
  Remember when bashing central banks and predicting financial collapse as a result of monetary manipulation and intervention was considered “fake news” within the “serious” financial community, disseminated by fringe blogs? Good times. In an interview with Swiss Sonntags Blick titled appropriately enough “A Recession Is Sometimes Necessary”, the former CEO of UBS and Credit Suisse, Oswald Grübel, lashed out by criticizing the growing strength of central banks and their ‘supremacy over the markets and other banks’. The former chief executive officer claimed that the use of negative interest rates and huge positive balance sheets represent ‘weapons of mass destruction’. He calls for an end to the use of negative interest rates.
• ‘First Brexit, Then Trump and There is More of This to Come!'
  Hailing 2016 the year of ‘two big political revolutions’ Nigel Farage said Angela Merkel and Barack Obama are ‘in denial’ over the public’s rejection of the political establishment. Speaking on Fox News, the UKIP leader said Obama and the German Chancellor ‘simply can’t face up to the fact that their worldview has taken an absolute beating in the year of 2016′. He has taken to social media to call 2016 ‘the year of political revolution’ and the ‘underdog’ with the Brexit vote in the UK and the election of Donald Trump in America.
• Smoking gun emails reveal Blair's ‘deal in blood' with George Bush over Iraq war was forged a YEAR before the invasion had even started
  A bombshell White House memo has revealed for the first time details of the ‘deal in blood’ forged by Tony Blair and George Bush over the Iraq War. The sensational leak shows that Blair had given an unqualified pledge to sign up to the conflict a year before the invasion started. It flies in the face of the Prime Minister’s public claims at the time that he was seeking a diplomatic solution to the crisis. He told voters: ‘We’re not proposing military action’ – in direct contrast to what the secret email now reveals.
• The 1% plotting to halt Brexit & bring back Tony Blair, leaked memo suggests
  Blairite millionaires, politicians and media tycoons are reportedly plotting to stop Brexit in its tracks, a leaked memo suggests. Virgin Group chief Sir Richard Branson is apparently bankrolling the scheme. A memo leaked to the Independent suggests the plot has been underway for months, with financial backing secured and a potential CEO for the group identified. The newspaper claims the information was found in an email penned by Tony Blair’s former health secretary and right-hand man Alan Milburn.
• Blair is back! Former PM announces he is ‘returning to British politics' because the Tories are ‘screwing up Brexit and Jeremy Corbyn is a nutter' as he prepares to meet with Theresa May
  Tony Blair is hunting for a new office near Westminster as he plots a return to frontline politics to influence the Government's approach to Brexit. The former prime minister believes the Tories are ‘screwing up Brexit' and views Jeremy Corbyn is ‘a nutter,' according to a source who has spoken to Mr Blair. He thinks there's a ‘massive hole in British politics' that he can fill. Mr Blair is setting up a new institute that will seek to influence and advise the Brexit process.
• This Is Where I Get Off
  We began writing on the War on Cash some time ago, when it was still just a theoretical ploy that we believed banks and governments were likely to employ as their economic adventurism continued to unravel. But, in the last year, several countries have, as a part of the War on Cash, begun removing larger bank notes from circulation in order to force people to perform all economic transactions through the banking system, ensuring that the banks would gain total control over the movement of money. Of course, the banks could not admit their true goal to the public. They instead used the governments to claim that the measure was being undertaken to restrict crime (money laundering, drug deals, black marketing, terrorism, etc.).
• $100 Billion Chinese-Made City Near Singapore ‘Scares the Hell Out of Everybody'
  The landscaped lawns and flowering shrubs of Country Garden Holdings Co.’s huge property showroom in southern Malaysia end abruptly at a small wire fence. Beyond, a desert of dirt stretches into the distance, filled with cranes and piling towers that the Chinese developer is using to build a $100 billion city in the sea. While Chinese home buyers have sent prices soaring from Vancouver to Sydney, in this corner of Southeast Asia it’s China’s developers that are swamping the market, pushing prices lower with a glut of hundreds of thousands of new homes. They’re betting that the city of Johor Bahru, bordering Singapore, will eventually become the next Shenzhen.
• Morocco wants to build a new city from scratch—with China’s help
  Morocco is working on a $10 billion project with the Chinese group Haite to develop an industrial city that will host some 300,000 locals. The project envisions a large Chinese-style industrial park on the edge of the Mediterranean, built on about 2,500 acres with room to expand up to nearly 5,000 acres. Morocco’s King Mohammed VI has been personally involved in the improvement in Moroccan-Chinese ties that preceded the deal. The King met with president Xi of China during an official visit to Beijing this year, which led to the signing of a strategic partnership.
• Soros Army Forming Liberal Version Of Judicial Watch
  The latest efforts by George Soros to subvert President-elect Donald Trump involve taking a page out of the conservative playbook. Soros and his allies have reportedly discussed launching a liberal version of the government transparency group Judicial Watch, which Politico reports “spent much of the past eight years as a thorn in the Obama administration’s side filing legal petitions under the Freedom of Information Act.”
• Obama and Angela Merkel Blame Internet and Social Media for Disrupting Globalism
  President Barack Obama and German Chancellor Angela Merkel are blaming the internet for disrupting the forces of globalism, suggesting that technology is making it more difficult to unite people behind a common purpose. “Because of the internet and communications, the clash of cultures is much more direct,” Obama said during a press conference on his trip to Berlin. “People feel, I think, less certain about their identity. Less certain about economic security.”
• REVEALED: The Real Fake News List
  We've seen the make-shift “fake news” list created by a leftist feminist professor. Well, another fake news list has been revealed and this one holds a lot more water. This list contains the culprits who told us that Iraq had weapons of mass destruction and lied us into multiple bogus wars. These are the news sources that told us “if you like your doctor, you can keep your doctor.” They told us that Hillary Clinton had a 98% of winning the election. They tell us in a never-ending loop that “The economy is in great shape!”
• Are You Prepared For The Unwinding Of The Biggest Bubble In History?
  With the Thanksgiving Day holiday on Thursday of this week, are you prepared for the unwinding of the biggest bubble in history? Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness:  I want to start the week by saying I believe ‘secular stagnation’ is bulls**t. As a believer in free trade and comparative advantage and thus with hopes that no trade battles take place in the next 4 years, I want to reiterate my optimism over the potential liberation of the US economy via lower and more competitive tax rates and an easing of the regulatory strait jacket all around the economy. This said, before we get to that economically better place (which we no doubt will I believe) I can’t help but be on alert about what the implications are of an unwinding of the biggest bubble ever created, that of credit via the helping hands of our central bankers…
• EURO PLUNGE: Single currency could ‘COLLAPSE' against dollar amid record losing streak
  THE euro has plunged to its lowest level against the dollar since December 2015, as experts warned the currency could collapse next week amid concerns for the eurozone economy. Investors have frantically dumped the single currency over 10 consecutive trading sessions – the worst performance since the euro was introduced in 1999. Head of the European Central Bank (ECB) Mario Draghi failed to ease fears after warning that the eurozone recovery depends on action by monetary policymakers.
• So Much For Electing An Outsider
  During his run for the presidency, Donald Trump took the occasional break from insulting women and minorities to toss off some decent – even exciting – policy ideas. Term limits for congressmen and a ban on politicians becoming lobbyists, for instance, were straight from the Libertarian good-government Christmas list. But best of all was the effective break-up of the big banks through the re-imposition of Glass-Steagall, a law passed during the Great Depression to separate taxpayer-protected commercial banks from free-to-fail investment banks.
• Russia Deploys Nuclear Missiles In Retaliation To NATO “Threats”
  While the detente between Russia and US president-elect Donald Trump could not have come at a more tense time, the Kremlin appears to be accelerating its head-on collision course with NATO, and as a highly placed defense official said on Monday, Moscow will deploy S-400 surface-to-air missiles and nuclear-capable Iskander systems in the exclave of Kaliningrad in retaliation for NATO deployments, confirming previous media reports of Russian intentions to once again blanket central Europe with potential nuclear ICBM coverage. While Russia has previously said it periodically sends Iskanders to Kaliningrad, until now it has always said these were routine drills. Moscow has not linked the moves explicitly with what it says is a NATO military build-up on Russia's western borders.
• Border Patrol union welcomes Trump's wall as ‘vital tool'
  The National Border Patrol Council has high hopes for President-elect Trump’s border security policies. The union’s president, Brandon Judd, has been advising the Trump transition team. The union has encouraged the building of a border wall and changing enforcement policies put in place in the past four years. San Diego-based Shawn Moran, vice president of the union, said a wall on the border would be a “vital tool,” and it’s difficult to say exactly where along the border a wall is needed.
• More Electors Get Death Threats From Hillary Voters
  A member of the electoral commission in Texas says his colleagues are getting death threats as angry Hillary supporters ramp up the pressure before electors cast their vote on December 19th. Hillary voters around the country are bombarding electors with emails, some of them threatening, in an effort to force them to vote against the outcome of the presidential election. “At first everyone was kinda enchanted by it. Now all the electors are starting to get beaten down. There are some electors who have been threatened with harm or with death,” Texas elector Alex Kim told NBC 5.
• European Union Orders British Press Not To Report when Terrorists Are Muslims
  This is the moment where hate speech laws become a greater threat to democracy and freedom of speech than hate speech itself. In France, Muslim terrorists are never Muslim terrorists, but “lunatics,” “maniacs” and “youths”. To attack freedom of the press and freedom of speech is not anti-hate speech; it is submission. By following these recommendations, the British government would place Muslim organizations in a kind of monopoly position: they would become the only source of information about themselves. It is the perfect totalitarian information order. Created to guard against the kind of xenophobic and anti-Semitic propaganda that gave rise to the Holocaust, national hate speech laws have increasingly been invoked to criminalize speech that is merely deemed insulting to one's race, ethnicity, religion, or nationality. It is disturbing to wonder how long the EU will strongly engage its experts and influence to cut through existing legal obstacles, in a quest to criminalize any type of criticism of Islam, and to submit to the values of jihad.
• Trump Announces Policy Plans
  President-elect Donald J. Trump vowed in a YouTube video to focus on creating jobs and reducing regulations as soon as he takes office.
• Jeff Sessions may prosecute ‘sanctuary cities’ if confirmed as attorney general
  Sen. Jeff Sessions is on record saying so-called “sanctuary cities” that protect illegal immigrants should be prosecuted. He himself may get that chance next year. Mr. Sessions is president-elect Donald Trump’s pick to be the next attorney general, and if he’s confirmed, he will mark a 180-degree turn from the Obama administration on a host of issues, but nowhere more so than on immigration, where he’s been the Senate’s leading crackdown proponent.
• US Bond Market Liquidity Collapses: “It's Worse Than Brexit”
  Two weeks ago we warned of the “unintended consequences” of Dodd-Frank which are likely to crush bond market liquidity. On the day of Brexit we got a glimpse of what can happen when the world's most liquid bond market suddenly isn't and as one veteran bond trader exclaimed today, US Treasury market liquidity is “worse than Brexit.” Following the worst two-week loss for bonds… ever…
• San Fran Home Sales Crash To Lowest Level Since 2008 As Pricing Reset Gets Underway
  We have frequently written over the past couple of quarters about the bubbly San Francisco housing market that looks set for another epic reversal as home prices have reached staggering new highs just as employment levels seem to be rolling over.  With home prices now implying that only 10-20% of residents can afford the “median” priced home, it's certainly not difficult to understand why demand may be waning. According to HousingWire and a new report from PropertyRadar, home sales in the Bay Area are finally starting to rollover with Q3 YTD volumes down 10.3% YoY, reflecting the fewest number of homes sold over that same time period since 2008.  Perhaps even more staggering is that distressed property sales fell 35.7% YoY so far in 2016, to the lowest level since 2001, as “low-priced” inventory dried up and buyers have found it financially impossible to move up to higher price tiers.
• Demonetisation: Govt mulls limits on cash withdrawals, transactions for both individuals, companies 
  In the government's determined push against the parallel economy, the next step after the disruptive overnight ban on high value notes could be a cap on cash withdrawal, transactions and amounts that can be held by individuals and companies, people in the know said. Recently some senior tax officials and experts were asked their opinion about such a step. The senior government officials seeking feedback or opinion on the issue is one of the main reasons why industry trackers say that such a step could be in the offing, said two people who spoke to ET.
• EU Army set to be agreed TODAY – and BRITAIN will foot the £420m-a-year bill
  THE EU will today ratify the creation of a continent wide super army that will be up and running next year – and blame BREXIT for its creation. Brussels politicians convened in the French city of Strasbourg to thrash out the plans that will cost taxpayers' £420m-a-year. They will vote on the issue to establish an “EU-wide system for the coordination of rapid movement of defence forces personnel” across Europe later today. If agreed Britain will not only be forced to foot the bill because it is timetabled for before the triggering of Article 50, but it will also be legally drawn into it.
• Sweden leads the race to become cashless society
  In 1661, Stockholms Banco, the precursor to the Swedish central bank, issued Europe’s first banknotes, on thick watermarked paper bearing the bank’s seal and eight handwritten signatures. Last year – as Britain did last week – Sweden launched a new series of notes, cheery affairs featuring 20th-century Swedish cultural giants such as Astrid Lindgren, the creator of Pippi Longstocking, Greta Garbo and filmmaker Ingmar Bergman. But like its Nordic neighbours Norway, Denmark and Finland, Sweden is fast becoming an almost entirely cashless society.
• Citibank is the first Australian bank to stop taking cash
  Up is down and down is up. We are now living in a bizarre era when a bank will refuse to take cash. Citibank Australia has become the first Australian bank to go completely cashless, notifying customers that its branches will no longer handle notes and coins from November 24. “We have seen a steady decline in the demand for cash services in our branches — in fact less than 4% of Citi customers have used this service in the last 12 months,” said Citibank head of retail bank Janine Copelin. “This move to cashless branches reflects Citi’s commitment to digital banking and we are investing in the channels our customers prefer to use.”
• Speculators Are Finally Bailing Out Of Gold – And That’s A Good Thing
  All this talk of massive new infrastructure spending financed with a tsunami of freshly-minted currency should be lighting a fire under gold. That it hasn’t is a testament to how out-of-whack the precious metals market had gotten during the first six months of this year. As gold rose, the futures contract traders whose games tend to dictate near-term price action had set the metal up for a fall. Specifically, the speculators (who are always wrong at the extremes) were ridiculously long. With the suckers all-in, a big correction was needed to restore balance. But it didn’t come. Several months passed with gold treading water, leading some to wonder if the paper market tail had finally stopped wagging the physical market dog.
• Globalists Will Crash Markets and Blame it on Trump-Rob Kirby
  Macroeconomic analyst Rob Kirby explains the violent moves in the markets by saying, “We really do not have markets anymore. We have interventions, and we have massive fraud committed on a daily basis in what we call our capital markets. Our capital markets have become nothing more than a crime scene.” Look no further than the gold market on election night. The stock market was 800 points down in the red, and gold was way up in the black.  All that reversed in a matter of a few days.  How did the powers pull off a stunning reversal, especially with the skyrocketing price of gold?  Kirby says, “It was roughly 8,000 metric tons from late election night through Friday.  It’s up in the area of three years of global production in the paper markets in the space of three days.”
• Trump won the popular vote?
  Based on reports in mainstream media, Hillary Clinton won the popular vote for President. The facts, however, indicate otherwise. Before getting into that, we should consider why that is important. The answer is that most people think that whoever gets the most votes is supposed to be the winner. The Constitution, on the other hand, says otherwise. When the Constitution was written, it was understood that the federal government was beholden to the states that created it, not to the general citizenry. Voters chose their state representatives, but the states chose the Senators and the President.
• At This Current Pace, A Record-Shattering 2.4 Trillion Dollars Will Be Added To The National Debt This Year
  Barack Obama is about to become the 20 trillion dollar man. With less than two months to go in his second term, the U.S. national debt stands less than 150 billion dollars away from the 20 trillion dollar mark. And at the pace that the debt is increasing, it seems almost certain that we will cross 20 trillion dollars before Inauguration Day. After promising us that “deficits are under control”, the federal debt jumped by more than 1.3 trillion dollars last fiscal year, and so far this year it is on pace to rise by a record-shattering 2.4 trillion dollars. This is a recipe for national suicide, and yet it wasn’t even a major issue during the recently concluded presidential campaign. It is really, really hard to spend a trillion dollars. For example, if you were alive when Jesus was born and you had spent a million dollars every single day since that time, you still would not have spent a trillion dollars by now (From year 0 to 2016 at $1m per day is just under $736Bn).
• Why We Are Still In ‘The Danger Zone’ Until January 20th, 2017
  Donald Trump is not the president yet, and Barack Obama could still do an extraordinary amount of damage during his last two months in the White House.  Prior to the election, I described the period of time ending on January 20th as “the danger zone”, and my outlook has not changed just because Donald Trump was victorious on election night.  As you will see, the next two months are an absolutely critical time, and if we can get through January 20th without something major happening perhaps we can breathe a little bit easier (at least for a while).  On the other hand, the events of the next two months could easily plunge this country into a period of unprecedented chaos.  A lot of people are feeling really good about things right now because of Trump’s victory, but now is definitely not a time to relax and let down our guard.
• The Drought That Was Prophesied To Hit The Southern United States Is Now Here
  A record-setting drought has gripped the southern United States, but most people have no idea that this drought is the fulfillment of a prophecy that was given four years ago. Back in 2008, John Paul Jackson released a DVD entitled “The Perfect Storm” in which he detailed many of the prophetic events that God showed him would soon come to America. In 2012, he released a video update to “The Perfect Storm” that you can view on YouTube right here. In that update, he shared a list of future headlines that God had revealed to him over the years. Some of these headlines have already happened since that time, and now we are watching another be fulfilled right in front of our eyes. Specifically, I am referring to this headline: “Record High Temps Accompany Record Drought Swept South”.
• What Donald Trump Just Did Is Going To Have Social Conservatives In A State Of Complete Shock
  This is NOT what most social conservatives were expecting. Like millions of other Americans, I greatly celebrated when Donald Trump pulled off a miracle on election night. But within a week of his stunning election victory, many social conservatives already feel like they are being stabbed in the back. On Sunday, 60 Minutes aired a post-election interview with Trump in which he explained that his stance on gay marriage is that it is “settled” and that he has no plans to try to overturn the Supreme Court decision legalizing it. According to CNN, this answer “could leave conservatives worried”…
• 11 Very Depressing Economic Realities That Donald Trump Will Inherit From Barack Obama
  It would be a grave mistake to understate the amount of damage that has been done to the U.S. economy over the past eight years.  In this article, I am going to share some economic numbers with you that are extremely sobering.  Anyone that takes a cold, hard, honest look at the numbers should be able to see that our economy is in terrible shape.  Unfortunately, the way that we see things is often clouded by our political views.  Up until the election, Democrats were far more likely then Republicans to believe that the economy was improving, but now that is in the process of completely reversing.  According to Gallup, only 16 percent of Republicans believed that the economy was getting better before the election, but that number has suddenly jumped to 49 percent after Trump’s election victory.  And the percentage of Democrats that believe that the economy is getting better fell from 61 percent to 46 percent after the election.
• The Election Of Donald Trump Is Already Having An Enormous Impact On The Economy
  The election of Donald Trump has sent shockwaves through the U.S. economy and the U.S. financial system.  Since November 8th, the Dow has hit a brand new all-time record high, the U.S. dollar has strengthened greatly, and bank stocks are way up.  But not all of the economic news is good news.  Unlike stocks, bonds have reacted very negatively to Trump’s election victory.  The past week has been an absolute bloodbath for bond traders, and as you will see below this is going to have dramatic implications for all U.S. consumers moving forward. Over just a two day period, more than a trillion dollars was wiped out as bond yields spiked all over the globe.  As CNN has noted, this type of “violent reaction” in the bond market has only happened three other times within the past ten years…
• Britain has passed the ‘most extreme surveillance law ever passed in a democracy'
  It's 2016 going on 1984. The UK has just passed a massive expansion in surveillance powers, which critics have called “terrifying” and “dangerous”. The new law, dubbed the “snoopers' charter”, was introduced by then-home secretary Theresa May in 2012, and took two attempts to get passed into law following breakdowns in the previous coalition government. Four years and a general election later — May is now prime minister — the bill was finalized and passed on Wednesday by both parliamentary houses. But civil liberties groups have long criticized the bill, with some arguing that the law will let the UK government “document everything we do online”.
• Ron Paul: Warning to Trump — “Shadow Government” Will Infiltrate Your Cabinet
  Dr. Ron Paul appeared in an RT interview speaking about Donald Trump’s election. He made some curious statements about “neocons” and an infiltration by a “shadow government,” and her warned Trump about placing neoconservatives in his cabinet. Trump is currently considering neocons for at least 5 of his cabinet positions. Many of them have links to Wall Street, specifically Goldman Sachs, and almost all of them are members of the Council on Foreign Relations, whose honorary chairman is David Rockefeller.
• VW cuts 30,000 jobs in emission scandal fallout
  Volkswagen (VW) is to cut its workforce by 30,000 over the next five years as it acts to save costs following the diesel emissions scandal. The German carmaker said it was committed to no compulsory redundancies under the union deal, with 23,000 of the positions to go at factories in its home market and the rest in North America and Brazil. VW said the job losses were “socially acceptable” as it prepared to relaunch the brand by 2020 – tainted by the rollout of software in 11 million diesel vehicles that was designed to cheat emission testing.
• Two-Thirds Of Workers In Developing Nations To Be Replaced by Robots, Report Warns
  An alarming new report from the United Nations is the latest in a litany of studies suggesting that the coming age of automation and workforces dominated by robots will be upon us much faster than previously thought. The U.N. now claims two-thirds of the human labor force in developing nations will be replaced by automation. The U.N. says a Universal Basic Income will be necessary as a stop-gap for the 75% of humans left without work. Anti-Media previously reported on predictions that half the American workforce could be replaced by automation within the next two decades. Another report’s statistics suggested automated software could fleece 1.7 million truckers of their jobs within a decade. The U.N.’s UNCTAD report notes that taken on a global scale, we’re seeing“premature deindustrialization.”
• Silver Prices May Rise with Infrastructure Projects
  The president of the United Auto Workers said he will sit down and talk with President-Elect Trump to try and crush the North American Free Trade Agreement, describing NAFTA was “a problem.”  The union of auto workers is an early advocate for working with Trump to change trade agreements seen as being detrimental to American workers. Other industry organizations are likely to ally themselves with the future president, who made trade a cornerstone of his campaign promise to “Make America Great Again.”
• Chelsea Clinton reportedly being groomed for congressional run
  Former first daughter Chelsea Clinton reportedly is being mooted as a future congressional candidate. The New York Post reported that Clinton, 36, is being eyed to take Rep. Nita Lowey's place when the 79-year-old incumbent decides to leave the House of Representatives.  Lowey represents New York's 17th District, which covers part of Westchester County, including Bill and Hillary Clinton's hometown of Chappaqua. The Post reported that the Clintons have purchased the home next door to theirs, in which they plan to install Chelsea, her husband and their two children.
• Donald Trump Boosts Europe's Anti-Establishment Movement
  Donald Trump's electoral victory has come as a shock to Europe's political and media establishment, which fears that the political sea change underway in the United States will energize populist parties in Europe. Anti-establishment politicians, many of whom are polling well in a number of upcoming European elections, are hoping Trump's rise will inspire European voters to turn out to vote for them in record numbers. Commenting on Trump's victory, Dutch lawmaker Geert Wilders, wrote: “America has just liberated itself from political correctness. The American people expressed their desire to remain a free and democratic people. Now it is time for Europe. We can and will do the same!”
• China fires its first warning shot, warning iPhone sales will suffer if Trump starts a trade war
  Apple iPhones and other U.S. goods could suffer sales hits in China if President-elect Donald Trump goes through with his “naive” plan of slapping a large import tariff on Chinese products, a state-backed newspaper warned on Sunday. During his election campaign this year, Trump spoke of a 45 percent import tariff on all Chinese goods while failing to outline how it would work. Should any such policy come into effect, China will take a “tit-for-tat approach”, according to an opinion piece in the Global Times, a newspaper backed by the Communist party.
• Trump Prepares To Label Muslim Brotherhood A ‘Terror Organization’
  Last November, Sen. Ted Cruz (R-TX) co-sponsored legislation along with Rep. Mario Diaz-Balart (R-Fla.) demanding that President Obama label the Muslim Brotherhood an official foreign terrorist organization. The Muslim Brotherhood Terrorist Designation Act prefaces its conclusions with comprehensive research and historical precedent. “Multiple countries have declared the Society of the Muslim Brothers (commonly known as the  ‘‘Muslim Brotherhood’’) a terrorist organization or proscribed the group from operating in their countries,” begins the bill. The bill didn’t make it through the winding roads of bureaucracy as a result of the Obama administration’s apparent sympathies for the Islamist group, but now, President-elect Donald Trump’s advisors are vowing to push through that same piece of legislation when the Republican victor assumes the oath of office in January.
• As Venezuela's Currency Loses 40% In One Month, Maduro Dances
  The last time we updated on the value – we use the term very loosely in this case – of the Venezuela currency, the Bolivar in the black market, was at the start of November, when one US dollar purchased 1,567 bolivars in the street. Fast forward not even two full weeks later, and the Venezuela currency has now officially crossed the “nice, round number” psychological hyperinflation barrier of 2,000/USD, trading at 2,014 today, crashing by 22% since our last check, and an vomit-inducing 43% in the past month. The exponentially-rising chart below shows what hyperinflation in a destroyed socialist economy looks like.
• Two-thirds of the world's internet users live under government censorship: report
  Two-thirds of the world's internet users live under regimes of government censorship, according to a report released today. The report from Freedom House, a pro-democracy think tank, finds that internet freedom across the globe declined for a sixth consecutive year in 2016, as governments cracked down on social media services and messaging apps. The findings are based on an analysis of web freedom in 65 countries, covering 88 percent of the world's online population. Freedom House ranked China as the worst abuser of internet freedom for the second consecutive year, followed by Syria and Iran. (The report does not include North Korea.) Online freedom in the US increased slightly over the year due to the USA Freedom Act, which limits the bulk collection of metadata carried out by the National Security Agency (NSA) and other intelligence agencies.
• Online ‘Freedom' Plunges For 6th Straight Year As Social Media Censorship Grows
  Internet freedom has declined for the sixth consecutive year, with more governments than ever before targeting social media and communication apps as a means of halting the rapid dissemination of information, particularly during anti-government protests. According to the latest Freedom on the Net reports, two-thirds of all internet users live in countries where criticism of the government, military, or ruling family are subject to censorship.
• All Eyes On Argentina As Lithium Boom Takes Shape
  Lithium is poised to be the longest-running mining bull market of the century, and independent, junior minors like Millennial Lithium Corp. are having their stocks pushed higher and higher as this market gets ready to explode under a soaring demand and tight supply situation. The disruptive force of lithium in the energy market is unprecedented, with prices tripling this year and the fantastically tight supply prognoses promising explosive profits for new entrants. And the global ground zero is lithium-rich Argentina, where massive resources have combined with a new business-friendly political atmosphere to create a situation in which everyone is talking about a lithium cartel, and the rise of the next energy barons.
• China: Trump's First Crisis?
  There is a growing possibility that China will be at the epicentre of President-elect Trump’s first crisis, triggered by concerns over the potential impact of protectionist measures on China’s trade surplus, which currently supports the increasingly fragile financing chains supporting corporate debt that the IMF estimates at around 155% of GDP. Trump’s pledges to impose tariffs of up to 45% on Chinese manufactured goods threatens to drive a significant uptick in the amount of capital flight from the renminbi, while the prospect of measures to change the US tax system to encourage companies to repatriate cash to the are already pulling the dollar higher. At this point the likelihood of Trump actually delivering on his protectionist rhetoric is secondary to the psychological impact on resident corporate and household savers of any potential threat to the current uneasy equilibrium within the Chinese economy.
• Wall Or No Wall: Trump Needs The Mexican Oil Industry
  Two of Donald Trump’s main pledges during the presidential race were building a wall along the border with Mexico, and making the U.S. energy-independent. Now that the election is over, these issues are coming to the fore. First, the president-elect said that the wall, which he mentioned on the campaign trail and in numerous debates, is still very much on the table, though what type of “wall” that may be is an unknow. Second, he said he planned to start deporting illegal aliens—those with criminal records—which could amount to as many as three million individuals. Despite “The Wall”, the deportation of Mexican citizens, and several grandiose comments about Mexico paying for said wall—not to mention Trump’s proclamation that he would raise import tariffs up to 35 percent on some Mexican products—Mexico’s President Enrique Pena Nieto was among the first of the world leaders to congratulate Trump on his victory.
• Pastor Lindsey Williams introduces Pastor David Bowen – November 17, 2016
  Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
• Will Your Energy Bill Get More Or Less Expensive Under Pres. Trump? 
  Environmentalists are panicking that President-elect Donald Trump will trigger an energy jobs disaster by cutting green subsidies, but David Holt, president of the Consumer Energy Alliance, thinks exactly the opposite. Green media is positively panicking that Trump’s cuts could literally end all life on Earth and cause a hypothetical jobs crisis by destroying the green energy industry. Conversely, Trump appears to be very supportive of industries that slash carbon dioxide (CO2) emissions while creating jobs.
• Will Trump Do What Reagan Couldn’t?
  Finally, it’s over. We were both delighted and appalled by the news. A smile spread over our face… and our steps lightened… as we looked ahead to four years without Hillary Clinton’s know-it-all mug in the news. But our shoulders stooped, too, as we listened to Donald Trump’s victory announcement. As we predicted, Americans got the president they deserved. Now, “no dream is too big.” No nightmare is out of bounds, either. Dow futures fell as much as 800 points as news spread and investors thought the end of the world had come [that didn’t last long, ed.]. But here at the Diary, we were serene. We had mocked both candidates and mooned the sacred rite of democracy – the election itself. Why?

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Latest News From November 10, 2016 to November 17, 2016:

• James Turk – What Donald Trump Faces Is Very Different From What Ronald Reagan Faced, Expect Major Market Moves…
  As we kick off the third week of trading in November, today James Turk spoke with King World News about why what Donald Trump faces is very different from what Ronald Reagan face, but here is the good news… James Turk:  “Congratulations to Mr Trump. If his presidency is as remarkable as his election, Eric, he could go down in history as a great president. I expect that a lot of things will change because of Trump. That’s what voters want…
• A professor has made a list of websites she says publish ‘fake' or ‘misleading' news
  On Monday, Google and Facebook announced measures to ban fake news websites from using their advertising networks. Previous attempts by Google AdSense and Facebook Audience Network saw the companies ban sites that “misrepresent, misstate or conceal information”. However the proliferation of fake news during the US elections, some argued, swayed votes towards Donald Trump and prompted the social media platform and giant search engine into changing their policies.
• Trump’s Victory: A Historical Upset
  I have to admit it. I fully did NOT expect Donald Trump to become the 45th President of the United States of America. All of the odds were against him: He was underfunded compared to Hillary’s money machine; Nearly every media source was openly against him; Not one major celebrity came out to support him; He was labbeled a racist and a misogynist; All leading figures of his own party abandoned him; Much of his policies were in direct opposition with the aims of the globalist elite; Robert DeNiro said he wanted to punch him in the face.
• Facebook, Google announce new policies to fight fake news
  Two of the world’s biggest internet companies, Google and Facebook, are taking new steps to fight the rising tide of fake news — in other words, conspiracy theories and misleading information from no-name sites masquerading as news— that exploded on their platforms during this campaign cycle. The problem has grown to the point that it is now too big to ignore. Both companies have come under fire for widely-shared fake news stories that spread false information about the candidates. In a move disclosed Monday, Google said it will withhold lucrative digital ads from appearing on any sites that “misrepresent, misstate, or conceal information.” The new policy could give news and information sites greater incentive to avoid false headlines or risk losing revenue.
• Here’s Where Trillions of Investor Dollars Went After Trump’s Big Win
  We expected the Super Shemitah/Jubilee time period (which officially ends on November 20th with the end of the Catholic Jubilee) to be one of dramatic change and chaos. And, did we ever get it! Since the beginning of the Jubilee year, in October of last year, two massive events have happened.  Brexit and Trump. Both were completely unexpected by most. Brexit saw the worst day in worldwide stock markets in history the day after the vote. And, interestingly, Dow futures were down 777 points at one point as it became clear Trump had won the “selection.”  But, then the markets had a massive rebound the next day.
• Legend Art Cashin On A Trump Presidency, The New World Order, Gold, Brexit, The Great Depression And Why We Will See Panic
  As the bond market continues to melt down, interest rates rise and the Dollar Index surges above 100, legend Art Cashin gave one of his most important interviews ever to King World News about a Trump presidency, the New World Order, gold, Brexit, the Great Depression, and why we will see panic before the end of the year. Eric King:  “In Trump’s acceptance speech he said that we are going to have massive infrastructure spending.  Is that bearish for gold?  I don’t think so.”
• This Wasn’t A Vote, It Was An Uprising
  The article below has come to me. I am unable to ascertain if it is a published statement or one of those items sent around the Internet. Nevertheless, I do believe that it captures the attitude of those Americans who in the vast majority of the states gave their vote to Donald Trump. The optimism expessed in the article might be unrealistic. In order to prevail over the Oligarchy, President Trump will need a government as strong as he appears to be. He cannot find the strength he needs for his government among the usual Washington, Wall Street, and corporate sources. If he selects from these people, he will be impotent. The question is: who is his transition team? Are they focused on making nice with the Oligachs? If so, there will be no change.
• Dow’s Trump-Fueled Surge is Difficult to Explain
  From David Fabian: It feels like we have almost packed a full year’s worth of stock market price action into just the last two weeks.  With so many diverging market sectors and overall fluctuations, I thought it would be prudent to do an examination of some key charts. Taking a closer look at these categories can help frame macro views as well as determine areas of strength and weakness.
• Here’s Where Trillions of Investor Dollars Went After Trump’s Big Win
  From ZeroHedge: The early winners and losers of Trump’s presidential win are very clear, with trillions of dollars flying around as investors attempt to position themselves for the next four years. Despite the repeated warnings by websites such as this one that the polls showing Hillary Clinton ahead of the election were rigged and manipulated, misrepresenting the real popular support of the two candidates, and that the likelihood of a “shock” Trump victory is far greater than anyone was willing to admit, both traders, the media, and the punditry were stunned by the outcome which, just like Brexit, few had actually anticipated. The result, at least in global capital markets, has been an unprecedented repricing of risk assets.
• War On Cash Intensifies: Citibank To Stop Accepting Cash At Some Branches
  Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia. Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.” (How convenient that a bank would propose something that’s good for banks!) This isn’t the first time that the financial establishment has pushed for a cashless society in Australia (or anywhere else).
• Krugman Gets His Alien Invasion – And Gold Bugs Get Paradise
  Nobel Prize winning economist and uber-liberal New York Times columnist Paul Krugman likes to illustrate his philosophy by noting that the threat of an alien invasion would help the economy by stimulating government spending. Well, last week’s election gave Krugman and the rest of the Keynesian establishment their alien invasion (Trump and company being only partially human when viewed through Beltway-culture eyes).
• Twitter cracks down on alt-right accounts
  Twitter is cracking down on accounts belonging to members of the alt-right movement in the wake of Donald Trump's victory in the presidential election, USA Today reported Wednesday. The social networking website suspended the accounts of several prominent figures, including Richard Spencer, president of an alt-right think tank. Spencer, who had a verified account, told The Daily Caller News Foundation that Twitter's action “is corporate Stalinism.”
• A Third of Anti-Trump Protestors Arrested in Portland Didn’t Vote
  The streets of downtown Portland have swelled with protesters each night since Donald Trump won the presidential election on Tuesday, and on occasion the protests have turned violent. That’s led to 112 arrests in the last week and a review of state election records by a local news station shows that more than a third of those arrested didn’t even vote.
• Who will be Trump's chief of staff? Kellyanne Conway says the announcement of The Donald's assistant is ‘imminent'
  Kellyanne Conway, Donald Trump's campaign manager, has said that the announcement for the White House chief of staff is ‘imminent'. Conway told reporters late Saturday night that there are ‘several people being considered' for the position, according to ABC News. But, she added, ‘it's Mr Trump's decision ultimately'. She said that she thinks ‘Reince Priebus has expressed interest in the position' as well.
• George Soros
  “I cannot and do not care about the social consequences of what i do.” explains it right there folks…..
• Permian’s Wolfcamp formation called biggest shale oil field in U.S.
  In a troubled oil world, the Permian Basin is the gift that keeps on giving. One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.
• REVEALED: Donald Trump vows to ‘reopen 9/11 probe' that could ‘spark a revolution'
  Disenfranchised working class voters propelled the billionaire reality star into the White House this week in one of the biggest election upsets in US history. In his first days as President-elect, Republican Trump has given few clues on how he plans to honour his pledge to “Make America Great Again”. But ahead of his Brexit-style election earthquake, Trump threatened to lift the lid on one of the most catastrophic terror attacks in modern history.
• Soros-Funded Anti-Trump Protesters Rioting in Cities Across America: Fomenting National Crisis and Martial Law?
  Globalist investor in murder and mayhem George Soros is at it again, funding his MoveOn.org to organize post-election “sour grapes” protests around the country in response to underdog Trump’s surprising President-elect victory. Complicit crime partner mainstream media is having a field day deceitfully spinning these top down, billionaire driven demonstrations as a spontaneous, grassroots populist uprising against racist dictator Donald. From a press release from MoveOn.org: The gatherings – organized by MoveOn.org and allies – will affirm a continued rejection of Donald Trump’s bigotry, xenophobia, Islamophobia, and misogyny and demonstrate our resolve to fight together for the America we still believe is possible.
• Goldman Just Killed The “Reflation Euphoria” – Concludes Global Growth Will Suffer Under Trump No Matter What
  Earlier today, we presented an analysis by Goldman Sachs which emerged with a lukewarm take on Trump's policies as to how they stand to impact US domestic growth, with only Goldman's “adverse” scenario resulting in a “stagflationary”, i.e., recessionary outcome. However, in a follow up report by another set of Goldman economists Nicholas Fawcett and Sven Jari Stehn, one which looks at the broader global set of Trump policy consequences for the entire world – because after all, the US is still a part of it –  it finds that virtually every scenario leads to a global contraction, something we previewed yesterday in our post titled “What’s Good For The US In This Case, Is Not Good For Emerging Markets.”
• The Anti-Trump Protesters Are Tools of the Oligarchy — Paul Craig Roberts
  Who are the anti-Trump protesters besmirching the name of progressives by pretending to be progressives and by refusing to accept the outcome of the presidential election? They look like, and are acting worse than, the “white trash” that they are denouncing. I think I know who they are. They are thugs for hire and are paid by the Oligarchy to delegitimize Trump’s presidency in the way that Washington and the German Marshall Fund paid students in Kiev to protest the democratically elected Ukrainian government in order to prepare the way for a coup.
• Keiser Report: Gaddafi-like Death to Clinton's Political Career (E992)
  In this episode of the Keiser Report, Max and Stacy discuss the gruesome Gaddafi like death to a political career. They look at the role of Obamacare premium increases in middle income voter discontentment with the Democratic Party. In the second half, Max interviews Dr. Michael Hudson about what went wrong for Hillary.
• Forget Trump – Is Deutsche Bank The First Domino of the Next Economic Collapse?
  The FIRST DOMINO of Contagion: Will Deutsche bank be the catalyst for the collapse of the European banking system?
• The Amazing Collapse of Russia’s Auto Market
  We don’t hear much from the global automakers and their analysts about the multi-year sales fiasco in Russia, in part because they don’t like to bring up crummy data unless they have to. And they don’t have to. For them, Russia is just a tiny market, compared to China and the US: through October this year, new light vehicle sales in Russia amounted to about 8% of sales in the US. Since 2010, auto sales in China, the US, and many other countries have boomed. And they grew in Russia too, but only until late 2012, when the market began to stall. They declined in 2013. Then, when the sanctions hit in 2014, the market sagged. When the oil bust hit in 2015, the market crashed. And to this day, it continues to head south. The numbers are stunning.
• Anti-Vaccination Proponent Melania Trump Delivers Powerful Speech
  Vaccinate your kids, they say. It’ll be safe, they say. The only problem is that “they,” isn’t vaccinating their children. Tonight, Melania Trump, the wife GOP Presidential nominee and potential First Lady of the United States, took the stage in grand fashion to endorse her husband’s controversial campaign. Melania has come from a rural town in Slovenia to the brink of being one of the world’s most powerful women. For husband Donald, Melania serves as a puzzle piece that doesn’t seem to fit with liberal rhetoric. Trump’s being painted as a racist and xenophobic and misogynist, something Melania’s presence seems to deny even without her ringing endorsements of him. She’s an immigrant, a woman, a cultural infusion.
• The Global “Populist” Doom Tour Swings to Italy
  Widespread public disaffection and dissatisfaction are not unique to the UK and US; they’re on the rise all over the developed world. It’s not hard to see why. In the words of Mark Blyth, one of an embarrassingly small number of economists to correctly call both Brexit and the victory of Trump, the last 30 years have seen “a huge amount of economic growth but hardly anyone’s benefited from it.” And now the people are “fed up” and have decided at any opportunity to “give their elites notice that they’ve had enough.”
• Here’s My Experience with Healthcare in Mexico
  An acquaintance of mine was walking around with a bandaged hand so I asked him what had happened. He was working and something slipped and he ended up with a nasty gash on the back of his hand. He went down to the local clinic and they put in 8 stitches. The total bill was $52. Three years ago, I fell on a tile floor and broke my pelvis in 3 places. I was picked up by an ambulance, driven 40 miles to a private hospital where I spent 6 days and had a 5 hour surgery to repair the damage. They put in 3 pins, a plate, and 6 screws. The total bill was $22,000. I have no idea just how many stitches they put in, but the incision is 14″ long. That was the total bill, no insurance.
• The Far Left Is Planning The Biggest Political Protest In United States History For Inauguration Day
  We have seen very large protests in major cities all over America since Donald Trump won the election, but the biggest one of all is being planned for January 20th. Radical leftists are calling for thousands upon thousands of activists to descend upon Washington D.C. on Inauguration Day, and they are planning to disrupt the inauguration festivities as much as they possibly can. And if you doubt that the “Not My President” movement can pull this off, you may want to consider that 25,000 protesters showed up in New York City on Saturday on very short notice. These people are bitter, angry, frustrated and incredibly motivated. At this point they still have more than two months to organize their forces, and many are expecting that this is going to be the most chaotic Inauguration Day in American history.
• “Is The Market Wrong?”: Financial Conditions Are Tightening At An Alarming Pace
  As a result of the recent spike in yields, and surge in the dollar following the Trump victory, the market's reaction has been to assume that this is a harbinger of rising inflation due to a tidal wave of “imminent” fiscal easing, and has accordingly pushed up the December rate hike odds to above 90%. After all, the logical offset of the expected easing in fiscal conditions is for the Fed to tighten monetary policy, arguably the only source of market gains (and economy support) over the past 7 years. But is the market wrong?
• President-elect Trump speaks to a divided country on 60 Minutes
  The following script is from “The 45th President,” which aired on Nov. 13, 2016. Lesley Stahl is the correspondent. Rich Bonin and Ruth Streeter, producers. During what seemed an interminable campaign, a divided country found all kinds of ways to describe Donald Trump: visionary businessman, vulgar self-promoter, political neophyte. But after Tuesday, for all Americans, there’s only one description that counts: president-elect.
• Bonds bloodied as Trump spending plans spur dollar
  Routs in global bonds and emerging markets intensified, while the dollar climbed with base metals as investors positioned for the wave of fiscal stimulus that Donald Trump has pledged to unleash. The yield on 30-year Treasuries rose to the highest since January, with last week’s record debt selloff bleeding into Monday trading and weighing on credit markets.
• Democrats Are Now Calling For A ‘Revolution In The Streets’, And I Believe That They Are Quite Serious
  The surprise victory by Donald Trump on November 8th has spawned a series of violent protests and riots all over the nation as stunned leftists continue to throw the largest post-election temper tantrum in U.S. history.  Protesters in large cities all across America have been disrupting public transportation, looting stores, hurling objects at the police and burning Trump in effigy.  There have even been shootings at anti-Trump rallies in Seattle and in Portland.  Hundreds of protesters have been arrested so far, and organizers are promising that this is only just the beginning.  Meanwhile, large numbers of enraged leftists are physically threatening Trump on Twitter, and some are even calling for a violent revolution.  Sadly, I believe that they are quite serious about this.
• Popular Vote Reality Check
  I’ve been listening to the left wingnuts crying foul because Crooked Hillary won the popular vote. They evidently fell asleep during their American government class in high school. The reason there are two senators per state and an electoral college is to keep the large powerful states from wielding too much power in governing the nation. It seems left wing nutjobs seem to be drawn together into 6 liberal enclaves. You may notice the professional violent Soros protestors do their best work in these states. Republican voters in these states know their vote is worthless, because there are far too many irrational, mathematically challenged snowflakes to overcome. So, many don’t even bother to vote.
• Monte Paschi Begins Bondholder “Bail-In”: Will Equitize Over €4 Billion In Junior Bonds
  Monte Paschi's long anticipated, if largely undesired bail-in is finally a fact. Ever since the bank failed the ECB's latest stress test this summer, when it was advised that it needs to raise billions in capital, only to see the process fizzle with virtually no willing sources of new cash emerging due to the opaque labyrinth of the bank's bilions on NPLs, Italy's third largest, most insolvent, bank has been hoping to avoid a debt conversion, out of fears it may spook retail bondholders across the capital structure, and in other Italian banks, who may perceive the move even if touted as “voluntary” as a creditor bail-in. Which it technically is.
• Why India wiped out 86% of its cash overnight
  India is in the middle of an extraordinary economic experiment. On 8 November, Prime Minister Narendra Modi gave only four hours' notice that virtually all the cash in the world's seventh-largest economy would be effectively worthless. The Indian government likes to use the technical term “demonetisation” to describe the move, which makes it sound rather dull. It isn't. This is the economic equivalent of “shock and awe”.
• Anti-Trump Protests: Proof Of Professional Activist Involvement
  In a story from November 12, USA Today writes an article to discredit the idea that the professional activist community is involved with organizing anti-Trump protests. They invite you to meet the protesters. USA today presents them as ordinary people. However, WikiLeaks exposes them as experienced protest organizers and activists. USA Today presents the protests as spontaneous, involving people from “all walks of life” – certainly not professional protesters.
• Elizabeth Warren: Democracy Demands That We Work Together on America’s Agenda
  Elizabeth Warren sparred with Donald Trump throughout the 2016 election campaign. Now, the senator from Massachusetts is ready to work with the president-elect to rebuild the American economy. But if Republicans attempt to remove Wall Street regulations or gut the Consumer Financial Protection Bureau, she will fight them. Warren shared her thoughts in a speech to the AFL-CIO executive council in Washington, D.C., on Thursday.
• Iran Nears Pre-Sanction Levels, Starts Pumping Oil At 3 New Fields
  Three new oilfields in Iran were put in production mode this weekend at an official ceremony, adding more than 220,000 bpd to the country’s total output. The fields are Yadavaran, North Azadegan, and North Yaran—three of the five fields that Iran shares with Iraq. The launch of North Yaran was reported last week, with initial production seen at 30,000 bpd. North Azadegan will yield 75,000 bpd, and Yadavaran should produce 115,000 bpd. At the ceremony, President Hassan Rouhani was quoted as saying that “Oil production west of Karoun must reach one million barrels per day. This is a realistic goal, and we need investment and technology.”
• Iran Surprises OPEC With A Further 250,000 Bpd Increase
  President of Iran, Hassan Rouhani, was poised to announce on Sunday that the nation has increased oil production by 250,000 barrels per day. This was accomplished through the creation of three new fields west of the Karoun River. The addition in production was highly unexpected, especially to neighboring OPEC nations. As of this past Wednesday, Brent crude oil futures have dropped a substantial amount to under $44 per barrel. Three publicly traded companies on three separate exchanges have paid as much as $3 billion to obtain these fields. Sinopec from China has acquired the largest, producing 115,000 barrels per day. China’s National Petroleum Corporation bought the second largest field and the third was given to Persia Oil and Gas Development of Iran. All three of these companies stand to profit from these fields. Iran is in the process of ramping up production to reach their prior unsanctioned levels, which would place the oil majors in a crucial position to grow.
• Iran seeks $10 bln in Russian arms
  Iran is moving ahead with plans to purchase advanced Russian weaponry now that UN sanctions have been lifted even as Republican president-elect Donald Trump vows to revisit and/or scrap the nuclear deal between the Obama Administration and Tehran. Viktor Ozerov, the Russian Federation Council’s defense and security committee, who is on a visit to Tehran, said on Monday that Iran wants to buy $10 billion worth of weapons including T90 tanks, the most advanced in Russia’s arsenal. Russia has completed the delivery of S-300 air defense systems to Iran in October and these are expected to be ready for deployment by year’s end, Ozerov said. But any weapons that can be used for offensive purposes, such as the T-90s, must be approved by the UN Security Council until 2020.
• Trump just laid out a pretty radical student debt plan
  Donald Trump is promising the most liberal student loan repayment plan since the inception of the federal financial aid program, in a clear effort to court the millions of Americans struggling with the high cost of college. “We would cap repayment for an affordable portion of the borrower’s income, 12.5 percent, we’d cap it. That gives you a lot to play with and a lot to do,” Trump said at a rally in Columbus, Ohio, on Thursday. “And if borrowers work hard and make their full payments for 15 years, we’ll let them get on with their lives. They just go ahead and they get on with their lives.”
• Commentary: The unbearable smugness of the press
  The mood in the Washington press corps is bleak, and deservedly so.
  It shouldn’t come as a surprise to anyone that, with a few exceptions, we were all tacitly or explicitly # WithHer, which has led to a certain anguish in the face of Donald Trump’s victory. More than that and more importantly, we also missed the story, after having spent months mocking the people who had a better sense of what was going on.
• China plays critical role in climate change cooperation – official
  China is expected to play a pivotal role in consolidating and enhancing South-South partnership, particularly when it comes to issues related to climate change. Speaking to the Chinese news agency Xinhua, Moroccan Foreign Minister and Climate Change Conference (COP22) President Salaheddine Mezouar said that China has an “extremely important role to play in accompanying, reinforcing and boosting South-South partnership and support sustainable development policies in the African continent”. China is currently participating in the 22nd Conference of Parties to the United Nations Framework Convention on Climate Change (COP22) held in Marrakech, Morocco.
• Trump Will Become Third President to Forego a Salary. Here's What the Other Two Did With Theirs…
  Trump Will Become Third President to Forego a Salary. Here's What the Other Two Did With Theirs… From the start of his campaign, Trump has pledged that he'd put aside his business activities completely if elected, telling CBS's “Face The Nation” last October that he’s been “phasing out” his role since the beginning of his campaign.
• Federal Reserve & Clintons Doomed-Clif High
  Internet data mining expert Clif High predicted that “Trump would win” the election and that Hillary Clinton would go “missing” after the election. Sure enough, Hillary was missing the night of her defeat.  What does that mean?  High thinks, “That there was a breakdown among a very delicate relationship among a lot of powerful parties that failed to deliver as promised.  The plan didn’t work.  So, now there is no real plan “B.”  There never could be under the circumstances.  We are in a situation where there can’t be a plan “B” for the Federal Reserve, for example.  They (FED) have to go on a certain path, they’re doomed.  That is true of the criminal organization we call CGI (Clinton Global Initiative).  Any criminal gang, no matter where it is in the social order, progresses along a certain path, runs into opposition and dies.  It always happens, and it always will.”
• As Obama buries US-led TPP, focus shifts to China-backed trade deal
  The China-proposed Free Trade Area of the Asia Pacific (FTAAP) will be in focus during the upcoming  Asia-Pacific Economic Cooperation (APEC) summit in Peru from Nov. 19-20 even as the US officially gives up on a rival trade deal, the TPP. Heads of states including Chinese President Xi Jinping, Russian President Vladimir Putin and US President Barack Obama will be in attendance at the APEC Summit. In Peru, Obama will explain to other TPP nations the reasons for the US government’s failure and the suspensions of its efforts to win congressional approval for the deal. US President-elect Trump has called the TPP a “disaster” and “a rape of our country”.
• When People Laughed At The Idea Of Trump Actually Being Elected President!
  Never underestimate the power of the silent majority.  Those who kept silent during this campaign had the strongest voices.
• Soros And Liberal Mega-Donors Plot For War With Donald Trump
  George Soros and other liberal mega-donors are gathering in Washington for a three-day, closed-door meeting where they will discuss opposing Trump’s plan for his first 100 days in office. According to Politico, the meeting, which began on Sunday night at Washington’s Mandarin Oriental hotel, is sponsored by the influential Democracy Alliance donor club and will include darlings of the left such as House Democratic leader Nancy Pelosi, Senator Elizabeth Warren and Congressional Progressive Caucus co-chairman Keith Ellison.
• 58 Facts About the U.S. Economy from 2015 that are Almost too Crazy to Believe
  This year the middle class continued to deteriorate, more Americans than ever found themselves living in poverty, and the debt bubble that we are living in expanded to absolutely ridiculous proportions.  Toward the end of the year, a new global financial crisis erupted, and it threatens to completely spiral out of control as we enter 2016.  Over the past six months, I have been repeatedly stressing to my readers that so many of the exact same patterns that immediately preceded the financial crisis of 2008 are happening once again, and trillions of dollars of stock market wealth has already been wiped out globally.  Some of the largest economies on the entire planet such as Brazil and Canada have already plunged into deep recessions, and just about every leading indicator that you can think of is screaming that the U.S. is heading into one.  So don’t be fooled by all the happy talk coming from Barack Obama and the mainstream media.  When you look at the cold, hard numbers, they tell a completely different story.  The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe…
• EU chief SQUIRMS over questions of legitimacy of ‘undemocratic’ European Commission
  THIS is the astonishing moment an EU chief was left squirming as he was questioned on whether the European Commission is truly democratic – when it is made up of unelected representatives. The awkward scenes happened during a citizens dialogue in Helsinki, Finland, when Frans Timmermans, the First-Vice President of the Commission, was challenged over the legitimacy of the institution. Taking the EU representative to task, a Finnish citizen demanded to know why Jyrki Katainen had been allowed to become the country's commissioner after he resigned as prime minister for “failing” in the leading role.
• The sneering response to Trump’s victory reveals exactly why he won
  If you want to know why Trump won, just look at the response to his winning. The lofty contempt for ‘low information’ Americans. The barely concealed disgust for the rednecks and cretins of ‘flyover’ America who are apparently racist and misogynistic and homophobic. The haughty sneering at the vulgar, moneyed American political system and how it has allowed a wealthy candidate to poison the little people’s mushy, malleable minds. The suggestion that American women, more than 40 per cent of whom are thought to have voted for Trump, suffer from internalised misogyny: that is, they don’t know their own minds, the poor dears. The hysterical, borderline apocalyptic claims that the world is now infernally screwed because ‘our candidate’, the good, pure person, didn’t get in.
• Canadian Parliament Condemns Free Speech
  On October 26, Canada's parliament unanimously passed an anti-Islamophobia motion, which was the result of a petition initiated by Samer Majzoub, president of the Canadian Muslim Forum. The petition garnered almost 70,000 signatures.
• Donald Trump could still not become president because of ‘faithless electors’ and the electoral college
  It’s still theoretically possible for Donald Trump not to become president. But the near-impossibility all depends on the electoral college and the strange US system. Donald Trump might have won the election by getting more of the votes in the electoral college than Hillary Clinton did. But strictly and legally, it’s not the election that just happened that matters: it’s the one where the members of the electoral college go and represent their voters and pick their candidate. That’s due to happen on 12 December, at meetings in each state where all Republican or Democrat representatives – depending on how each state voted – will cast their vote. And it will almost certainly go one way, with most of the electors casting their ballots for Donald Trump and making him President.
• Did America Really Pass The Test? – Hillary Clinton Is Going To Win The Popular Vote By A Wide Margin
  The 2016 election was a test, and it would be easy to assume that since Donald Trump won the election that America passed the test. Unfortunately, it may not be that simple. A closer look at the numbers reveals a very sobering reality. Yes, Donald Trump won far more electoral votes than Hillary Clinton did, and that means that he is on track to become our next president. But Hillary Clinton is going to win the popular vote, and it is likely to be by a very wide margin once all the votes are counted.
• No Matter What Happens, We Won’t Know Who The Next President Will Be Until December 19th
  Most Americans assume that their votes decide who the next president will be, but that is actually not the case.  It is the Electoral College that will elect the next president, and they don’t meet until December 19th.  And the truth is that all of the members of the Electoral College never meet in one place.  Rather, electors gather together in all 50 state capitals on the second Wednesday in December, and it is at that time that the next president and vice president are officially elected.  Of course members of the Electoral College have voted according to the will of the people about 99 percent of the time throughout our history, but with how crazy this election has turned out to be you never know what might happen.  For example, later on in this article you will see that one elector in Washington state has already publicly stated that he will not cast his vote for Hillary Clinton.  If other “faithless electors” emerge, that could potentially change the entire outcome of the election.
• For People Who Are Worried About Druckenmiller Selling His Gold…
  For people who are worried about Druckenmiller selling his gold… Before we get to Druckenmiller selling his gold, look at the collapse in the 30-year bond market as interest rates continue to surge! I am going to stick with yesterday’s format and try to make sense of the market motion, then turn to the action lower in the column, and I’m doing this in response to all the questions I’ve been getting about how various markets can possibly do what they’re doing, i.e., why are they behaving as they are…
• Druckenmiller: “I Sold All My Gold On The Night Of The Election”
  Just six months ago, Stanley Druckenmiller saw nothing but pain for the economy: in a presentation to the Sohn Conference in early May, the legendary Duquesne manager delivered what may have been his most bearish fire and brimstone sermon yet, and in fact according to some buysiders who were present, its somber mood and lack of faux optimism was downright apocalyptic. Druckenmiller said that while the Fed and policymakers have no endgame, markets do – hinting that one is rapidly approaching – and suggested that everyone should liquidate their equity holdings and buy a certain 5000 year old shiny asset, which as we reported previously, is Druckenmiller's “largest currency allocation.”
• Toward A New World Order?
  A Brave New World is coming? Perhaps. We had a recent discussion with a group of people in the hopeless business of doing long term forecasting. This made us think about what the world will look like over the next 20 to 40 years. A pretty thankless task, but the bottom line is without a damn good war, Asia will be the way of the future. As an experiment, assume, as most long term forecasters do, that both Europe and the US have reached a mature plateau where growth will average around 1.5 to 2 per cent over the long term, while China will slowly decelerate from the current 6.5 to 3 per cent and India from today`s 7 to around 4. In this scenario (which we do not necessarily believe in, as China is up for en epic crash) what will be the share of global GDP by, say, 2060? And what are the geopolitical implications?
• China ‘Devalues' Yuan To Weakest Since Breaking The Peg In 2010
  With offshore Yuan tumbling in recent days – echoing the collapse in US Treasury bond prices – the spread to the onshore fix appears to have forced the PBOC's hand. With a 200 pip cut in the CNY fix tonight, China has all but erased any strength in the Renminbi against the USD since it broke the peg (“enabled more flexibility”) in June 2010. Given the wakness in the Reniminbi basket, one could argue that the Yuan could be sold against the USD considerably more to catch down to the pressure that other major basket currencies have been under…
• What Does Trump’s Victory Mean For Energy Policy?
  Real estate mogul Donald Trump has won the presidential election, and that likely means the Obama administration’s global warming agenda will be massively scaled back or scrapped altogether. Trump, a Republican, has promised to cut the EPA, scrap the Paris climate treaty and rollback rules holding back U.S. energy production. “Just look at what Trump has promised,” a source close to Trump’s transition team told The Daily Caller News Foundation.
• Blame the Shrinking Toblerone on the Expanding Money Supply
  The confectionery corporation Mondelez International Inc. has announced it will be downsizing its beloved Swiss chocolate bar Toblerone due to the high cost of ingredients. The Illinois-based company, said in a Facebook post: “We carry these costs for as long as possible, but to ensure Toblerone remains on-shelf, is affordable and retains the triangular shape, we have had to reduce the weight of just two of our bars in the U.K.” Adjusting the size and weight of their products is a common practice for manufactures of food and beverages. It’s called “shrinkflation” and works as a cost cutting maneuver. In adjusting the Toblerone, the manufactures reduced its iconic row of triangular shaped pieces, expanding the gaps between each.
• Marshall Swing Returns: Read My Lips…THE GLOBAL ECONOMIC COLLAPSE IS COMING
  Well, today is Election Day morning and everybody is wondering what happens in the U.S. Presidential Election and also what happens to gold and silver. People will be holding their breath until polls close in East Coast and Central time zones as most elections are decided and called shortly afterwards. I have not written an article in about 1 year and with good reason.  There really has not been that much interesting, to me, going on with gold and silver.  It is the same old stuff over and over again, wash, rinse, and repeat. Can you spell M – A – N – I – P – U – L – A – T – I – O – N  ?
• Will Obamacare morph into Trumpcare?
  The buzz following the US elections is all about what to expect from the Trump presidency. At first, there was uncertainty over what, precisely, did he promise to do, but when he released his ‘Contract With the American Voter’ (described in this week’s news) the uncertainty shifted to what Trump will be able to do, considering the fact that almost all of it must be initiated and funded by Congress.
• Peter Schiff Calls “Hidden Vote” for Trump Before Election Results
  In an interview with RT News Tuesday night just as the election was getting started, Peter Schiff showed, once again, his acumen and insight for reading economic and political situations correctly. After Larry King asked if the election’s comparison to Brexit was appropriate, Peter accurately described the simmering voter angst at the economy and predicted the existence of a “hidden vote” for Trump that would soon prove to have eluded pollsters.
• No, the Electoral College won’t make Clinton president instead of Trump
  Donald Trump won Tuesday’s presidential election. But many liberals and progressives have begun clinging to one faint hope that he could still be stopped — through the Electoral College. Tuesday’s vote was technically not to make Trump president, but only to determine who the 538 electors in various states across the country will be. It is those electors who will cast the votes that legally elect the president on December 19.
• All About Blockchain And Why It's A Bigger Deal Than Bitcoin
  Banks have made the exchange of currency their business. But the digital age has ushered in a new way of banking, disrupting the institutions that have controlled the industry for hundreds of years. It’s the internet of banking, developed by private citizens for private citizens. While innovation in the industry is most commonly linked to Bitcoin, a cryptocurrency, it’s the underlying technology, blockchain, that might produce the biggest waves. “Blockchain presents an opportunity to bring disparate things together and allow secure, nonrefutable records of transactions to be done anywhere you need them to be done — quickly, securely and with little chance of fraud,” said Andrew Dare, architect of financial services innovation at Hewlett-Packard Enterprise in Halifax, U.K. “Therein lies the true value of the technology.”
• The Chilling Thing Hertz Just Said about the US Auto Boom
  Hertz Global Holdings, the giant rental car company which also owns Dollar and Thrifty, got crushed on Tuesday, as is so often the case, by an otherwise boring accounting entry. Depreciation of its cars had to be adjusted. Depreciation of the rental fleet is a huge expense in the industry: for Hertz, 29% of its total expenses. Depreciation is supposed to bring the value of these cars down to what they can be sold for when they’re scratched and dented and have 37,000 miles on them. Depreciating the fleet just a little less aggressively would boost earnings for a little while and is a very tempting strategy. But a few quarters later, when the cars have to be sold, reality comes home to roost.
• What the Heck’s going on with Foreclosures? Why this Spike?
  The total number of homes with foreclosure filings jumped 27% in October from September, when they’d been at the lowest level since 2006. It was the biggest jump in monthly foreclosure filings since August 2007. Compared to October last year, homes with foreclosure filings still decreased, but this nationwide decrease is covering up what is now happening in 28 states and Washington D.C., according to the Foreclosure Report by ATTOM Data Solutions. There, the inventory of homes with foreclosure filings is beginning to rise even on a year-over year basis.
• Former U.S. Treasury Secretary Just Warned Trump Could Be Assassinated
  Today former U.S. Treasury Secretary just warned that Trump could be assassinated. (King World News) Former U.S. Treasury Secretary Dr. Paul Craig Roberts:  The US presidential election is historic, because the American people were able to defeat the oligarchs.  Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump.  This shows that the media and the political establishments of the political parties no longer have credibility with the American people…
• Wow… The Country Is Totally Not Prepared For This…
  If you’ve ever been REALLY bored, and wanted entertainment rather than anything even loosely resembling news, you may have stumbled upon cable “news” outlet MSNBC. If so, then it normally takes all of about 5 seconds to determine that the pundits and alleged “news” anchors MUST permanently resided in an alternate universe or dimension. Why? Because that's the only remotely plausible explanation for some of the stories they report as news on that channel, HOWEVER, in the article and videos below, you’re about to see proof that they’ve returned to our realm, even if just temporarily.
• Consumer Credit Increases By $19.3 Billion
  The Federal Reserve's consumer credit report for September 2016 shows a 6.3% annualized monthly increase in consumer credit, and 7.0% for the entire third quarter.  Revolving credit increased 5.2% for the month as well as Q3,.  Non-revolving credit increased 7.4% for September and 7.6% for Q3.  Consumer credit matters due to personal consumption being the driving force in economic growth.
• Do You Believe In Miracles?
  We have never seen anything like this in the history of American politics.  Donald Trump’s shocking victory on election night is nothing short of a modern day miracle.  Several weeks ago I told my readers that it would take the biggest political miracle ever in order for Trump to win, and I had been strongly urging them to vote, but even early on election night I was skeptical that Trump could actually pull it off.  Initially the results coming out of Florida, North Carolina and Ohio looked rather ominous, and a lot of Trump supporters were freaking out.  But those initial numbers strongly reflected early voting results, and those results typically favor Democrats.  Once the Election Day numbers started rolling in, it was clear that there was a massive unanticipated wave of momentum for Trump.
• The defeat of Hillary Clinton just dealt a devastating blow to Monsanto, Big Pharma and the corrupt vaccine industry
  The ignorant people voting for Hillary Clinton two days ago had no idea what they were really voting for. That's by design, of course: They are kept deliberately dumbed-down by the complicit media which packed their brains full of anti-facts and twisted mush. While Clinton supporters mistakenly believed Hillary supported women, children, immigrants and humanity, in the real world Hillary Clinton was an obedient pawn of the most evil, genocidal corporate entities on the planet.
• This Trump Economic Advisor Wants America to Go Back to the Gold Standard
  Donald Trump is no policy wonk. He is pitching himself as the best man for the presidency based on his track record as businessman, and his ability to surround himself with the “best” people—not on his knack for writing white papers. This, of course, means that it is important for voters to understand whom he is surrounding himself with, and what sort of ideas they hold.
• Trump releases seven-point health care reform plan . . . and it's excellent
  A lot more than just getting rid of the lines. I mentioned on Facebook yesterday that I am not that big a fan of election years, and here's a case in point. At this moment, #NeverTrump is all the rage among conservatives, and there's a tremendous push to get Republican primary voters united behind one remaining Trump rival to take the nomination away from him. My job is to write what I think about whatever happens on a given day. It's not to only write what I think will result in a certain outcome. So when I tell you that Donald Trump's new seven-point health care reform plan is excellent, some of you are going to say: Don't say that now! It'll help Trump! # NeverTrump!!!
• Kremlin: Hillary Clinton victory would have CAUSED World War 3 between Russia and USA
  DONALD Trump's shock victory in the US presidential election prevented World War 3 erupting between the USA and Russia, a Kremlin official has claimed. The senior Moscow diplomat, who advises Vladimir Putin, said a Hillary Clinton presidency would have plunged the world into a diplomatic crisis. But a former British foreign secretary has warned Mr Trump against cosying up to the Russian strongman, saying the Kremlin was “unafraid to use aggression and intervention to shore up its influence”.
• Surging Bond Yields Signalling Pain Not Growth Ahead For US Economy
  The US election results are in and the US stock market is enjoying a sharp rally over the shock news of Donald Trump winning the election and becoming the new President elect. On the back of the big rally in US stocks there has also been another big shift occurring in another very important asset class, US Government bonds.
• Here Is What Donald Trump Wants To Do In His First 100 Days
  At the end of October, Donald Trump spoke in Gettysburg, Pa., and released a plan for his first 100 days in office. The plan (below) outlines three main areas of focus: cleaning up Washington, including by imposing term limits on Congress; protecting American workers; and restoring rule of law. He also laid out his plan for working with Congress to introduce 10 pieces of legislation that would repeal Obamacare, fund the construction of a wall at the Southern border (with a provision that Mexico would reimburse the U.S.), encourage infrastructure investment, rebuild military bases, promote school choice and more.
• Over $1 Trillion In Bond Losses In Days: Second Worst Week Ever
  Six months after we warned about the massive loss potential resulting from a spike in bond yields, one month after Ray Dalio did exactly the same, when he warned the NY Fed that “it would only take a 100 basis point rise in Treasury bond yields to trigger the worst price decline in bonds since the 1981 bond market crash”, and one day after we documented that MTM losses from surging bond yields had surpassed a third of a trillion, the tally is now three times greater, with total MTM losses soaring to $1 trillion just two days after the presidential election. As Bloomberg calculates, more than $1 trillion was wiped off the value of bonds around the world this week on concerns Trump’s policies will unleash a debt tsunami, and are seen boosting spending and quickening inflation. They are also expected to lead to much more QE as there will be trillions in government budget deficits that need to be funded.
• The Trans-Pacific Partnership is dead, Schumer tells labor leaders
  The Senate’s soon-to-be top Democrat told labor leaders Thursday that the Trans-Pacific Partnership, the trade deal at the center of President Obama’s “pivot” to strengthen ties with key Asian allies, will not be ratified by Congress. That remark from Sen. Charles E. Schumer (D-N.Y.), who is expected to be the incoming Senate minority leader, came as good news to the AFL-CIO Executive Council, which met Thursday in Washington. Schumer relayed statements that Republican congressional leaders had made to him, according to an aide who confirmed the remarks.
• Banning Fracking In The U.S. Would Kill 14.8 Million Jobs, Study Says
  A ban on hydraulic fracturing would kill 14.8 million jobs and cost the average American family $4,000 dollars, according to a new report by the U.S. Chamber of Commerce. Were environmentalists to successfully ban fracking next year, 3.9 million jobs would evaporate in 2017, rising to 14.8 million jobs lost by 2022, according to the report. Gasoline prices would almost double as would electricity prices. U.S. household incomes would fall by $873 billion.
• Trump Not Seeking Full Repeal Of Dodd-Frank; Opposes Bank Bailout Provision
  One of the bigger surprises to emerge from the initial attempts by the Trump transition team to frame the president-elect's policy yesterday, was what was dubbed at full repeal of Dodd-Frank, a move which has been seen by some as surprisingly pro-banker friendly.
• And Then They Came For the Big Rigs
  No one appears to have noticed this yet. But they will. Not on the road – or at the car dealership. At the supermarket. For openers. Uncle is “proposing” a “program” (the soft-sell language hides the reality of regulations issued by an unelected bureaucracy – EPA – which will be extremely mandatory) in order to “Reduce Greenhouse Gas Emissions and Improve Fuel Efficiency (their exact language, in the EPA’s pretentious Federal All Caps Style)  of “Medium, and Heavy Duty Vehicles.”
• Edward Snowden Addresses The US Election Result In Public Webcast
  Edward Snowden, courtesy of RT, is delivering a public address on the US election result from Russia where he is a “temporary resident”, and taking questions via social media on privacy concerns, his pardon and other issues of public concern. A campaign has been launched to secure Snowden a presidential pardon before Obama leaves office in January 2017. Questions can be submitted to the whistleblower by using the hashtag # StartPageSnowden.
• Zhuhai Air Show draws in over $40 bln
  The 11th China International Aviation & Aerospace Exhibition in Zhuhai, in south China’s Guangdong Province, closed on Sunday with a total of 402 deals worth over $40 billion, organizers said. The six-day exhibition attracted more than 700 exhibitors from 42 countries, and showcased mainly Chinese defense equipment including the J-20 stealth fighter. Although it debuted at the airshow, the J-20 will not be fully operational until 2018, the Chinese air force says. Commercial Aircraft Corporation of China (COMAC) sold almost 100 aircraft, a mix of commercial and fighter jets, during the event.
• To fight graft, India withdraws large bills
  In a surprise move, India will withdraw the 500 and 1,000 rupee notes from circulation effective midnight Tuesday official sources said in New Delhi. The measure came following an announcement from Indian Prime Minister Narendra Modi who said it was an essential move to tackle graft in the country and crack down on unknown sources of income. “To break the grip of corruption and black [unaccounted for] money, we have decided that the 500 and 1,000 rupee currency notes presently in use will no longer be legal tender from midnight ie 8 November, 2016,” Modi said in a speech which was special televised on national TV.
• CIVIL WAR: Violent rallies sweep America as protesters BURN US flag after Trump victory
  THOUSANDS of seething protestors have descended upon cities across America following the momentous election of Donald Trump as the US President. iolent rallies have taken place in New York, Chicago, Austin, Boston, Philadelphia, Washington, San Francisco, Los Angeles and Dallas to express their anger against the billionaire businessman which have continued long into the early hours of Thursday morning. Hordes of demonstrators rushed to Trump Tower in Manhattan screaming “not my President”, “New York hates Trump”, “we reject the President-elect” and “f*** the wall”.
• Russian banks hit by cyber-attack
  Five Russian banks have been under intermittent cyber-attack for two days, said the country's banking regulator. The state-owned Sberbank was one target of the prolonged attacks, it said. Hackers sought to overwhelm the websites of the banks by deluging them with data in what is known as a Distributed Denial of Service (DDoS) attack. Security firm Kaspersky said the attacks were among the largest it had seen aimed at Russian banks.
• The defeated left turns to HATE: Liberals unleash beatings, death threats and calls for mass murder of Trump supporters
  Now that the voters have wholly rejected the retarded, delusional leftist vision for America — which we might as well just call “liberal suicide” — the real character of the left is on full display. Today, angry liberals are turning to extreme violence and hatred, calling for the killing of Trump supporters, the assassination of Trump and the bloody beatings of all whites. Yes, the racism, violence, bigotry and HATE of the left has finally come out of the closet. I saw this coming, of course, long ago. If you're a regular Natural News reader, you may recall my August 30th article entitled Chaos will erupt across America in less than 100 days… no matter who wins the election. Now, like clockwork, it's all coming true exactly as I foresaw.
• George H.W. Bush on Trump: I ‘wish him well'
  Former President George H.W. Bush joined his son on Wednesday in congratulating Donald Trump on his White House win. POLITICO reported in September that the elder Bush planned to support Hillary Clinton for president, according to Kathleen Hartington Kennedy Townsend, a former Maryland lieutenant governor and daughter of the late Robert F. Kennedy. It's unclear, however, whether he actually did so.
• Progressives Find ‘White Trash’ More Threatening Than Nuclear War — Paul Craig Roberts
  The American electorate’s preference for Donald Trump and Bernie Sanders has established two facts. One is that the majority of the American people do not believe the media presstitutes. The other is that only the “progressives” and “liberals” who inhabit the Atlantic Northeast and Pacific West coasts believe the presstitutes. Trump’s election to the presidency has confirmed these holier-than-thou souls in their strongly held belief that America is a white trash racist country. They have told us this all day long today. From these people and from the presstitutes we hear that white supremacy elected Trump. This is their propaganda, the intention of which is to discredit a Trump administration before it is inaugurated. Funny how white supremacy elected black Obama twice previously.
• Rudy Giuliani Addresses Hillary Pardon – “President Obama Should Leave It To The System”
  Rudy Giuliani, the man that many believe Trump will tap for Attorney General, walked a very fine line this morning in responding to a question about whether or not the Obama administration should pardon Hillary Clinton for her numerous alleged crimes.  While noting the obvious intricacies around potentially prosecuted a former political foe, Giuliani noted that “there are deep and disturbing issues there” and that “President Obama should leave it to the system that we all believe in to determine, is she innocent or is she guilty.”
• Reverse Speech analysis of Hillary Clinton concession speech
  Ok guys, Hill's concession speech reversals have now been posted on David Oates Reverse Speech Youtube Channel. A bit under 3 mins. She refers twice to a media type battle coming up. And, we can all probably easily guess what that's gonna be about.
• This is How Consumers Turn into Debt Slaves
  Consumer debt rose by $19.3 billion in September to $3.71 trillion, another record in a five-year series of records, the Federal Reserve’s Board of Governors reported on Monday. Consumer debt is up 6% from a year ago, at a time when wages are barely creeping up and when consumer spending rose only 2.4% over the same period. This follows the elegant principle of borrowing ever more to produce smaller and smaller gains in spending and economic growth. Which is a highly sustainable economic model with enormous future potential, according to the Fed.
• Obama's “Excellent” Conversation With Trump Is Over: “If You Succeed, The Country Succeeds”
  Probably the most awkward meeting ever is now over as President Obama says that he had an “excellent conversation” with President-Elect Trump. The meeting which Trump had scheduled for 10 minutes, lasted an hour-and-a-half and concluded with Obama telling reporters that “if Trump succeeds, the country succeeds.”
• President Trump: This Is How To Bring Back 1 Million Energy Jobs
  There’s work to be done. And I know you’re up for a challenge. In fact, I’m now sure of it. So let me lay out a policy position that I am truly hoping you will adopt as your own. I’m talking about natural gas as a transportation fuel: cheap, clean, abundant natural gas. And I’m talking about U.S. energy independence, balanced budgets, jobs, trade and the environment. We use natural gas for power generation and as a heating fuel but that’s an old story for a new reality. Fracking has unlocked a phenomenal amount of gas in the last decade. Our onshore wells are rivaling the reserves of the deep offshore giants. And we’re getting much more for much less these days. North America also has over 2 ½ million miles of pipeline with more coming on line plus distribution capabilities in every urban center in America and Canada. All that’s missing is an appetite for it.
• Trump Reveals Policy Goals: “Building That Wall”, End “War On Coal”, Repeal Obamacare, Dismantle Dodd-Frank
  On his transition website GreatAgain.gov, the Trump team has laid out the framework of his initial policies with policies focused i) on American Security including as Defense and National security, Immigration Reform and Building That Wall, and Energy Independence; ii) Getting America Back to Work Again including Tax Reform; Regulatory Reform; Trade Reform; Education; Transportation & Infrastructure and Financial Services Reform; and iii) Government for the people including Healthcare Reform (Obamacare), Veterans Administration Reform and Protecting Americans' Constitutional Rights.
• Angela Merkel Warns Russia May Interfere In German Election Next
  It appears it's not just the US voting system that has been allegedly penetrated by Vladimir Putin (at least if Trump is winning). German Chancellor Angela Merkel said on Tuesday that Russia could try to influence Germany's general elections next year through cyber attacks or disinformation campaigns, following similar accusations by Washington, which also accused the Kremlin of meddling in the US vote. Germans are scheduled to go to the polls in September 2017. Merkel has yet to announce her candidacy but is widely expected to run for a fourth term.
• The Working Class Won The Election — Paul Craig Roberts
  The US presidential election is historic, because the American people were able to defeat the oligarchs.  Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump.  This shows that the media and the political establishments of the political parties no longer have credibility with the American people. It remains to be seen whether Trump can select and appoint a government that will serve him and his goals to restore American jobs and to establish friendly and respectful relations with Russia, China, Syria, and Iran.
• Oil Prices Stable After Initial Shock To Trump’s Election Win
  Having plunged immediately after Donald Trump won the U.S. presidential vote, oil prices shook off the shock from the surprise election victory, almost pared losses, and were even trying to look up in early trade on Thursday. As of 7:11 AM (EST), West Texas Intermediate Crude traded down 0.57 percent at US$45.01, while Brent Crude was inching up 0.11 percent to trade at US$46.41. On election day, by 11:30 PM (EST), WTI Crude had slumped to US$43.72 a barrel—down a hefty 2.80 percent—as the pollsters and statisticians crunched the numbers and called first Florida, then North Carolina and Ohio for Trump, making the path for a Clinton nearly insurmountable.
• President Obama is Considering Rerouting the Dakota Access Pipeline
  Amidst ongoing controversy over the Dakota Access Pipeline, President Obama has finally spoken out, saying that his administration is looking for a way to “reroute” the pipeline to avoid affecting sacred tribal lands at Standing Rock Indian Reservation. Obama mentioned the strategy during an interview with Now This, saying, “My view is that there is a way for us to accommodate sacred lands of Native Americans. And I think that right now the Army Corps is examining whether there are ways to reroute this pipeline.”
• Keiser Report: Winners & Losers (US Election Day special E991)
  In this special US Election Day episode of the Keiser Report from New York City, Max and Stacy report from outside the Javits Center, where Hillary Clinton took the stage at the event that she and most pollsters and media thought would celebrate her victory. What went wrong? Former North Carolina Democratic Party Chairman Randy Voller tells Keiser Report that Hillary failed to bring in the working class vote. Author and former banker Mitch Feierstein suggests it was her alleged corruption. And credit analyst and Trump supporter Chris Whalen says that, in the end, Hillary just didn’t have the message that resonated with voters and it was Trump who had momentum and message.
• UK Quietly Deploys Warship To Guard Oil Shipping Off Yemen
  The UK has deployed its most advanced warship to guard commercial shipments through a narrow strait off the Yemeni coast, through which most of Britain’s oil and gas supply travels, The Times reported on Wednesday. The deployment of the HMS Daring ship has not yet been made public due to the sensitive nature of having a British warship linked to the conflict in Yemen, the UK’s newspaper noted. According to The Times, HMS Daring was on its way to join a mission in the Gulf, but was redeployed to the Bab al-Mandeb Strait, the waterway of global trade between the Mediterranean, the Suez Canal and the Indian Ocean.
• This is What Happened to the “Trump Crash”
  Overnight there were whiffs of financial mayhem. Wednesday morning in Tokyo, when it started sinking in that Trump was winning, speculators dumped stocks, and the Nikkei ended the day down 5.4%. The Asia Dow was down 3%. Then in the US, Dow futures plunged 750 points, over 4%. Nasdaq 100 futures plunged 4.5%. Futures for the CBOE Volatility Index – the “fear index” – jumped 40%. The Mexican peso plunged 11% to a record low of 20.3 pesos to the dollar at one point, its worst drop since the Tequila Crisis of 1994. Stocks in Europe were down, gold jumped, oil plunged. And America woke up to this scenario. Short sellers were licking their chops. This was the scenario they’d prepared for. Serious money could be made in this so predictable crash.
• The Navy can't fire its awesome new gun because the rounds cost nearly $1 million each
  The US Navy can't fire its awesome new gun that can hit a target more than 70 miles away because the rounds are costing the service nearly a million bucks a piece. Just a couple weeks after the Navy commissioned its most advanced warship, the USS Zumwalt (DDG-1000), the service says it won't be buying any more of the guided precision munitions the ship's Advanced Gun Systems uses, called the Long Range Land-Attack Projectile (LRLAP).
• Stocks Could Crater If They Fall Below This Important Trend Line
  From Dana Lyons: Some junctures are more significant than others in the markets. Coming into last week, it didn’t immediately occur to us that we were on the verge of such an important juncture across asset classes. However, the fact that our Trendline Wednesday feature on Twitter and StockTwits included an unprecedentedly large number of assets and indices suggests that we are indeed at a significant juncture.
• Edelson: Oil Will Plunge To $26 Per Barrel Next Year
  Analyst Larry Edelson explains his bearish case on crude oil, which includes a huge downside forecast for next year. Hopefully you heeded my warning about why the OPEC agreement was doomed to fail, leading to a sharp decline in crude oil prices. Crude oil is down 14% from the October 19 high, OPEC is scrambling for unity and all the talking heads and newswires are touting how an OPEC deal might not happen. I hate to say I told you so, but… Plunging crude oil prices and a severe loss in credibility has OPEC playing defense and concocting a new strategy. It’s becoming increasingly important for Russia, Saudi Arabia, Iran and Iraq to sharpen their pencils and hash out a “deal” at the November 30 OPEC meeting. And still, that may not be enough to maintain relevance and engineer higher crude oil prices.
• China’s Improving Economic Data Signals Big Growth Ahead
  A wave of positive economic data suggests the Chinese economy is stabilizing and that business confidence is improving. The country’s purchasing managers’ index (PMI), which measures the health of its manufacturing industry, rose to 51.2 in October, handily beating economists’ estimates of 50.3. Expanding at its fastest pace since July 2014, the industry was stimulated by a strong rebound in new orders and higher commodity prices. Output rose to an incredible five-and-a-half-year high. And with backlogs of work beginning to pile up, manufacturers trimmed employees at the slowest pace in 17 months.
• There will never be a Sound Currency System
  As the gold market takes a break in its journey to much higher levels, it is good to step back a bit and understand why gold has appreciated so dramatically in the last 100 years and why this will continue for many years to come. Most people have no idea what money is. They believe that if they have 100 dollars or euros, that this represents real value as well as durability. Few people realise that their currency which they call money has nothing to do with real money at all. All paper currencies are ephemeral and return to their intrinsic value of zero. This is because reckless governments cling on to power by printing or borrowing endless amounts of fiat money in the hope that they will placate the people and buy votes. Fiat money as the name indicates, can never be real money. It is issued by edict and is not backed by anything but debt and liabilities. Power corrupts and money corrupts. It is a lethal combination which not only destroys people but also nations. And sadly, we have now reached a point in history when the unlimited amounts of fiat money that have been created will also destroy continents.
• Central Banks Have Broadcast What is About to Hit…
  The biggest problem for the financial markets is not stocks nor is it the economy. It’s the Bond Bubble. Globally the bond bubble is now over $199 trillion in size. The world taken as a whole is sporting a Debt to GDP ratio of over 250%. This is a systemic issue.
• CNN Makes False Claim About Firearm Death Rates And Uses Bogus Data From George Soros Backed Small Arms Survey
  CNN makes the completely false claim that the US has “one of the world’s highest rates of death by firearms.”  Note most countries don’t report their firearm homicide rates, and there are many other problems that make the US’s rate look worse compared to other countries (please see here, that also provides links to data sources).  Admittedly the CNN claim is based on total firearm deaths and most of those are suicides in the US, but the firearm homicide rates are so massive in other parts of the world that they swamp firearm suicides in the US. (If you use murders (not homicides that include justifiable homicides), suicides account for about 70% of firearm deaths in the US.)
• Donald Trump’s foreign policy ideas aren’t as crazy as they seem
  After crisscrossing the country making his urgent last claims to the White House, Donald Trump has made it. But there is still nothing in his appearance or demeanour to suggest a president-in-waiting – at least not a president the United States has elected in recent times. His shortcomings as President-elect appear particularly glaring on foreign policy, where – so it would seem – his priorities can be summed up on the back of an envelope: bring Mr Putin in, keep the Mexicans out and make other countries pay a proper price for US protection.
• Impeachment Process Starts On French President Hollande For Disclosing Classified Information To Journalists
  French president François Hollande whose approval rating is a scant 4% now faces impeachment for disclosing classified information to journalists. Given national elections take place in 2017 and given socialists would be unlikely to convict him, one has to wonder “why bother?”, yet here we go: French Right Calls for François Hollande’s Impeachment.
• Donald Trump to discuss smooth transition with Barack Obama
  Donald Trump will head to the White House on Thursday to discuss with Barack Obama the transition of power. Mr Trump was elected the 45th president by defeating Hillary Clinton in one of the most divisive elections in modern US history. Speaking to reporters, Democrat Mr Obama admitted he and Republican Mr Trump have some “pretty significant differences” but “the presidency is bigger than any of us” as he vowed to ensure the transition was smooth and successful.
• US military successfully tests electrical brain stimulation to enhance staff skills
  US military scientists have used electrical brain stimulators to enhance mental skills of staff, in research that aims to boost the performance of air crews, drone operators and others in the armed forces’ most demanding roles. The successful tests of the devices pave the way for servicemen and women to be wired up at critical times of duty, so that electrical pulses can be beamed into their brains to improve their effectiveness in high pressure situations. The brain stimulation kits use five electrodes to send weak electric currents through the skull and into specific parts of the cortex. Previous studies have found evidence that by helping neurons to fire, these minor brain zaps can boost cognitive ability.
• Carl Icahn Bought $1 Billion In Stocks During “Trump Crash”
  As we explained first thing this morning, the market's correct reaction upon learning of the Trump presidency, was not to dump equities “limit down”, but rather to buy every risk asset in sight, now that Trump is preparing to unleash the inflation monster, something the market realized later in the trading day, leading to the biggest one-day percentage move on record in bond yields, and stock market surge that has led to a 1,000+ rebound in the Dow Jones to all time highs. However, not everyone was dumping. While the Dennis Gartmans of the world were liquidating their portfolios at lowest print of the year, warning of “fully engaged bear markets”, Trump's close confidante and person speculated to be Trump's Treasury Secretary, Carl Icahn was waving it in.
• Wikileaks: Rahm Emanuel used personal email accounts
  Chicago Mayor Rahm Emanuel used personal email accounts and a personal email domain to communicate with government officials and political figures, according to a published report based on hacked emails posted by WikiLeaks. Emanuel's personal account information turned up among the thousands of emails from John Podesta, Democratic presidential candidate Hillary Clinton's campaign chairman, the Chicago Tribune reported. Clinton has come under fire for her use of a private email system because doing so potentially jeopardized classified information.
• GM Slashes 2000 Jobs, Suspends 3rd Shift On Bloated Inventories, Slowing Sales
  Who could have seen this coming? Just weeks after Ford idled four factories due to slumping sales and excess inventory, GM just followed by slashing 2000 jobs permanently and suspending a third shift at production facilities in early 2017.
• Diving Into The Medical CPI: Are Your Medical Expenses Up Only 5% From Year Ago?
  On November 1, I posted a couple of charts from Variant Perception that shows medical price inflation plus rent inflation is up nearly 9% from a year ago. Let’s review those charts, then take a look at a series of charts from the St. Louis Fed data repository on medical expenses alone.
• Trump Victory Crashes Chinese Yuan To Record Low
  After a brief few hours of rallying overnight as early indications tilted towards Clinton, the moment Florida was called for Trump, China's offshore Yuan started to crash. Just hours later it has dropped 5 big figures to a record lows of over 6.82/$ despite China's officials preferring him. The selling panic started as Trump took the blead in Florida and several other battleground states… Which is a new record low for the offshore currency…
• China Is Suddenly Dumping Treasuries
  While we admit that “suddenly” is not exactly the right word to describe China's selling of US Treasurys, which has been steadily liquidating its UST reserves over the past two years, something changed today, when in a violent move starting around the time of the Trump election was guaranteed after midnight, the offshore Yuan,  the CNH, has been a one way street of non-stop selling, indicative however, of much more than just the relative strength of the dollar. In fact, as the chart below shows, the selling in the Yuan appears to be closely correlated to today's unprecedented liquidation in US Treasurys…
• President Obama Explains Why It's All Hillary's (And Putin's) Fault – Live Feed
  Having exclaimed for months on the campaign trail that he’d consider Donald Trump’s election a personal repudiation, President Obama is face with the harsh reality that it was him that was “peddling fiction” while ‘rome' burned. We suspect the blame-mongering will begin very quickly as former Obama senior adviser Dan Pfeiffer tweeted last night: “The most shocking part of tonight is the number of people who approve of Obama but didn't vote for Hillary Clinton.” The question is – will Obama move to Canada.
• Obamacare Melts Down
  When Obamacare was first passed, Vice President Joe Biden famously said it was a “big f—ing deal.” Now, though, there's a surprising level of bipartisan agreement that it's a big honking disaster. There had been many warning signs, but last week it became official: Obamacare premiums are going up next year by an average of 22 percent. And bear in mind this is an average. Our colleague Mary Katharine Ham wrote an eye-popping column at the Federalist about how her own Obamacare premiums are increasing by 96 percent in the coming year.
• Five Reasons You Should Blame The Economics Discipline For Today's Problems
  We are experiencing deep economic problems and it is the fault of the economics discipline. Their macro theories suck. But, there is no mechanism forcing it to alter its models when they don’t appear to work. This is so because economists basically write for each other in a language only they understand and their jobs depend on impressing a limited number of journal editors and referees, not correcting real-world problems. The academic inbreeding that has resulted has led to dysfunctional theories and, despite the fact that there were economists who accurately forecast the Financial Crisis, because their work is incompatible with what is published in “good” journals it has been all but ignored. Economics is broken and there is no internal incentive to fix it.
• Multi-Billionaire Hugo Salinas Price – ‘I Have Serious Doubts About The Survival Of Our Civilization’
  As the world awaits the outcome of the election in the United States, some time ago multi-billionaire Hugo Salinas Price told King World News in stunning fashion what he believes to be the frightening plan to control the world going forward. He described the people planning this as “barbarians,” and said, “this is not going to end well.” He also issued this ominous warning, “I have very serious doubts about the survival of our civilization under such people.” Below is what the multi-billionaire had to say in this incredibly powerful interview. These People Are “Barbarians”. Hugo Salinas Price: “With regards to the social question in the world, in 1929 a Spanish thinker by the name of Ortega y Gasset wrote a book that really shook up the world titled, ‘The Revolt of the Masses.’ He was talking about the appearance on the world stage of new individuals. He was writing about the growth of the population and the appearance of new individuals coming in to the mass of humanity. And these individuals evidently are (what he described as) ‘barbarians.’….
• Bitter Irony: San Francisco, Los Angeles, San Jose have the Worst Roads in America, Worse even than Detroit
  That the streets are in terrible shape in San Francisco is clear when I step out of the house, look at the pavement I need to cross, and think: “I should have put on my hiking boots.” To its credit, the city has been repaving streets in sections of a few blocks here and there. Those repaved sections look civilized, until you get to the next intersection. But now we know, sort of officially: the streets in San Francisco are in the worst condition of any major urban area. Even compared to smaller cities, only Concord, also in the Bay Area, outshines it.
• Greenspan Predicts Bond Yields Rising As High As 5%
  While the world has learned to take Alan Greenspan's forecasts with a grain of salt, earlier today the former Fed chairman was on Bloomberg TV with another bombastic prediction, warning of a substantial surge in US long-term interest rates should “inflation take hold.” In the interview, Greenspan said that “if the early stages of inflation, which are now developing, would take hold, you could get — fairly soon — a fairly major shift away from these extraordinarily low yields on 10-year notes, for example,” Greenspan said in an interview on Bloomberg Television on Monday. “I think up in the area of 3 to 4, or 5 percent, eventually. That’s what it’s been historically.”
• Student, Auto Loans Hit New All Time High Of $2.5 Trillion As Consumer Credit Jumps By $19 Billion
  The Fed's latest consumer credit report revealed that in September, overall household credit rose by a greater than expected $19.3 billion, above the $18 billion expected, if below last month's near-record $26.8 billion. There were no major surprises in the components of overall credit, with revolving, credit-card debt rising by $4.2 billion, in line with the increase observed in recent months. The ongoing increase in revolving debt, means the total amount of credit card debt outstanding has nearly caught up with the $1.02 trillion peak reached during the credit bubble.