Obscure NY Filing Exposes Clinton’s Millions In Foreign Donations

Clinton Foundation officials used an obscure New York state charity board filing amendment to disclose that the non-profit received $17.7 million in donations from foreign governments while Hillary Clinton was Secretary of State, the Daily Caller News Foundation has learned.
The specific foreign governments involved and the particular amounts they each gave were not disclosed on the document, entitled ‘Exhibit A’ and filed to the public charity division operated by New York Attorney General Eric Schneidermann, a Democrat. The money was given between 2010 and 2013 when Clinton was America’s chief diplomat.
The amended document included a line that was present in November 2015 when the foundation announced revised federal tax filings for the four years. The line added in January 2016 said: ‘All other government grants came from foreign governments’ with a total figure for each of the four years that equalled $17.7 million.
The foreign donations are still not listed on the financial portion of the foundation’s web site despite a claim in November by the non-profit’s president, Donna Shalala, that ‘there is nothing to suggest that the foundation intended to conceal the receipt of government grants, which we report on our website.’

This post was published at Zero Hedge by Richard Pollock via The Daily Caller News Foundation.

The Vanity Of Central Bankers And The Common Sense Rule

Some wedding gifts just keep on giving, even after the celebrated union upon which they were bestowed has failed. That would certainly be true in the case of Carly Simon and James Taylor, whose notoriously rocky marriage ended in 1983. The timing of her November 1972 wedding marked more than a vow to Taylor, it coincided with Simon’s gift to pop music and the release of ‘You’re So Vain,’ which ripped to the No. 1 spot on the charts and still retains the ranking of 82nd highest on Billboard’s Greatest Songs of All-Time. What a generous gift!
But, was it for the duo? Might it just be possible this lasting gift bred some not so blissful turbulence in the marriage? At the time, speculation swirled around the obviously vainglorious but mystery male subject. Was it Warren Beatty, David Geffen, Mick Jagger, Kris Kristofferson, Cat Stephens or James Taylor himself? The list went on and on. As of November 2015, Simon has only divulged that Beatty was one of three the lyrics reference. Taylor is not among the remaining two mystery men.
It’s a safe bet that a Taylor of a completely different stripe is far from being a mystery man in Janet Yellen’s appreciably less torrid past. In fact, the roles might even be reversed in Yellen’s world, with a slew of economists lamenting her vanity in rejecting them. The eminent John Taylor would be first in line, given that no less than his namesake rule used for devising monetary policy has been so explicitly and publically snubbed by the Chair.

This post was published at Zero Hedge by Danielle DiMartino Booth via Money Strong LLC. 6.

We Have Reached The Final Stage, The Central Bankers Went Full Subprime – Episode 998a

The following video was published by X22Report on Jun 15, 2016
Bank of America gets ready to layoff 8,000 employees. Obama goes through the backdoor and tries to push wage hike which will lead to employers cutting back. Core producer prices increase. Subprime is back, loans with low qualifications and high risk is the final stage to the economy on the verge of a collapse. Empire fed pops up once again. Industrial production declines. Goldman internal tracker signalling a recession.

Fed Keeps Rates Unchanged, Says Labor Market “Will Strengthen” But Slashes Rates Hike Trajectory

With bonds and bullion remainig bid post payrolls, post May Minutes, post April FOMC, and post December’s Fed rate-hike, it is clear that the market is losing faith in The Fed… and we suspect The Fed is losing faith in itselfas it takes the ax (once again) to its growth and rate forecasts (the dot-plot).
FED SAYS IT EXPECTS LABOR MARKET INDICATORS `WILL STRENGTHEN’ FED: MEDIAN FED FUNDS EST. 1.6% END-2017 VS 1.9% IN MARCH FED SAYS PACE OF LABOR MARKET IMPROVEMENT HAS SLOWED SIX FED OFFICIALS EXPECT ONE 2016 RATE HIKE VS ONE IN MARCH FED: GROWTH IN ECONOMIC ACTIVITY APPEARS TO HAVE PICKED UP July rate-hike odds are at 18% (and Sept at 19%). Pre-Fed: S&P Futs 2082, 10Y 1.61%, EUR 1.1240, Gold $1285
* * *
Here is the key paragraphs with changes:

This post was published at Zero Hedge by Tyler Durden – Jun 15, 2016.

“The Politics Of Fairness Have Created The Economics Of Hopelessness”

Charles Biderman, founder of the research firm TrimTabs speaks up against monetary interventionism and spots a concerning development in the US stock market. In an excellent interview with Finanz und Wirthschaft’s Christoph Gisiger, Biderman explains that despite recent market action having dragged the S&P 500 back to near-record levels; something else is going on beneath the surface: US companies are announcing fewer stock buybacks. That’s a reason for concern since buybacks have been at the center of this bull market. The outspoken American is also concerned about the lack of growth in the United States and warns that in Europe and Japan negative interest rates could end up causing a disaster.
Mr. Biderman, tensions in the financial markets are rising. What’s your take of the situation?
The stock market in the United States has been run by companies adding money through stock buybacks and cash-takeovers. But ever since the Federal Reserve hiked interest rates and started to talk about further moves we have seen a slowdown in buyback announcements. For the first five months of this year the volume of announced stock buybacks is around 30% lower at $280 Bn. That’s a significant decline. There are two reasons for this slowdown: First, earnings are down and free cash flow is down. Second, it’s harder to borrow money to do buybacks for companies with a junk rating. So less leverage is possible. Also, there is a lot more scrutiny of companies doing buybacks and why they’re doing them. The companies that are being punished are those which are doing buybacks with leverage. What does this mean for the outlook?

This post was published at Zero Hedge by Tyler Durden – Jun 15, 2016.

Gold Daily and Silver Weekly Charts – Seriously?

And so now we know why gold was smacked down so hard at the end of May, in addition to a convenient opportunity for the well-informed to skin the call options holders for the June Comex gold contract.
Those hawkish comments and bullish tweets about the economy from the Fed in April were just so much spin and hot air. But it did serve to facilitate the ongoing wealth transfer from the 99% to the pampered professional class.
There is little enough that is beneath them. And the bar keeps getting lower.
The MSCI has decided that Chinese stocks are not good enough for their index. Better luck next year.

This post was published at Jesses Crossroads Cafe on 15 JUNE 2016.

June 23, 2016: The Brexit Vote Could Change EVERYTHING And Plunge Europe Into Financial Chaos

On June 23rd, a vote will be held in the United Kingdom to determine if Britain will stay in the European Union or not. This is most commonly known as the ‘Brexit’ vote, and that term was created by combining the words ‘Britain’ and ‘exit’. If the UK votes to stay in the European Union, things over in Europe will continue on pretty much as they have been. But if the UK votes to leave, it will likely throw the entire continent into a state of economic and financial chaos. And considering how bad the European economy is already, this could be the trigger that plunges Europe into a full-blown depression.
So if things will likely be much worse in the short-term if Britain leaves the EU, then it makes sense for everyone to vote to stay, right?
Unfortunately, it isn’t that simple. Because this choice is not about short-term economics. Rather, the choice is about long-term freedom.
The EU is a horribly anti-democratic bureaucratic monstrosity that is suffocating the life out of most of Europe a little bit more with each passing year. So if I was British, I would most definitely be voting to leave the EU.
And in recent days, the campaign to leave has been rapidly picking up steam. In fact, two of the latest major surveys show that ‘leave’ has taken the lead…
An ORB poll for the Telegraph showed 48 percent of Britons would vote to remain in the European Union, while 49 percent would vote to leave.
A YouGov poll for the Times of London showed 46 percent preferred to leave, while 39 percent wanted to remain.
Two other recent polls have ‘leave’ ahead by 10 points, and there is another that actually has ‘leave’ winning by 19 points.
The ‘leave’ movement got a big boost just recently when the Sun officially endorsed that position. The following is an excerpt from the editorial that announced this decision…

This post was published at The Economic Collapse Blog on June 14th, 2016.

The Rush to Gold: A New Respect Is Growing

You didn’t come here today for bad news. There’s plenty of that everywhere you look, and even where you don’t look.
So here’s the good news. A new rush to gold has begun. To see where we’re headed, let’s first see where we’ve been.
Gold and silver owners in the first ten years of this new century were in for quite a ride, watching gold soar to $1,895 and silver to $49 by 2011. Even those who jumped in midway saw their paper money values zoom.
Gold had bottomed at $255.95, Apr 2, 2001. Note the gold bull began months before the attacks of 9/11. Silver bottomed nine weeks after the attacks at $4.06, alongside crashing stock markets.
The national debt in 2001 was $5.8 trillion, on its way to today’s $20 trillion. Savers and retirees could depend on CD and bond returns well north of 5%. U. S. bonds were still triple-A rated. You could take your cash from your bank without federal snooping.
‘War on cash’ was an unknown socio-economic term. No one predicted massive, taxpayer funded bail-outs, threats of bail-ins, or the terrible twins, ZIRP and NIRP – zero and negative interest rates.

This post was published at GoldSeek on 15 June 2016.

Goldman’s Fed Post-Mortem: “Yellen Was More Dovish Than Expected”

3:37 PM
While we are laughing at Yellen burying what little credibility the Fed may have had left both with her statement and her answers to press Q&A, here is Goldman.
BOTTOM LINE: Fed officials indicated a cautious approach in today’s statement and economic projections. In the Summary of Economic Projections, the number of participants anticipating only one rate hike this year rose to six from one, although the median remained at two. The number of projected hikes for 2017 and 2018 were also lowered to just three per year. MAIN POINTS:

This post was published at Zero Hedge by Tyler Durden – Jun 15, 2016.

Bank Of America Set To Fire 8,000 As Banker Layoffs Accelerate

A few months ago we pointed out that mass layoffs were coming for bankers due to declining revenues and more difficult market conditions, and now we’re seeing the first major wave of that come to fruition.
Bank of America has announced that it will fire as many as 8,000 employees within its consumer division the FT reports. The core reason given for the headcount reduction in this instance is that digital banking is picking up the pace, and has reduced the need for “back office staff” and bank tellers.
This is a trend that BofA highlighted in its In its Q1 earnings press release, as the bank showed that mobile banking users had shot up 15% y/y.

The bank has already slashed headcount by more than 10,000 in 2015, and has cut almost 40,000 from its consumer division alone since 2009 (bringing the total at the end of Q1 to 68,400). The layoffs are in line with what has been happening to its retail branch count, which has fallen by about 1,400 over the past seven years. Thong Nguyen, president of retail banking told a conference in New York this week that the numbers would “probably go down to the low 60s”, implying as many as 8,000 layoffs are on the horizon.

This post was published at Zero Hedge by Tyler Durden – Jun 15, 2016.

JUNE 15/JANET YELLEN GOES DOVISH IN LATEST FOMC WHICH CAUSES GOLD AND SILVER TO RISE/CHINA MASSIVE DELEVERAGING ITS SOCIAL SPENDING: NO WONDER WE HAVE CONTRACTING GLOBAL DEMAND/NIGERA’S NIRA COLL…

Good evening Ladies and Gentlemen:
Gold: $1,285.60 UP $1.20 (comex closing time)
Silver 17.41 down 2 cents
In the access market 5:15 pm
Gold $1292.50
silver: 17.52
i) the June gold contract is an active contract. Last night we had a good sized 297 notices filed for 29,700 oz to be served upon today. The total number of notices filed in the first 11 days is enormous at 14,997 for 1,499,700 oz. (46.647 tonnes)
ii) in silver we had 0 notices filed. total number of notices served in the 10 days: 202 for 1,010,000 oz
Let us have a look at the data for today.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 274.09 tonnes for a loss of 29 tonnes over that period
In silver, the total open interest ROSE by 1259 contracts UP to 197,852 DESPITE THE FACT THAT THE PRICE OF SILVER WAS DOWN by 2 cents with respect to YESTERDAY’S trading. In ounces, the OI is still represented by just under 1 BILLION oz i.e. 0.995 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia &ex China)
In silver we had 0 notices served upon for nil oz.
In gold, the total comex gold OI ROSE by a CONSIDERABLE 6,182 contracts UP to 545,357 as the price of gold was UP $1.10 with YESTERDAY’S trading (at comex closing).
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
With respect to our two criminal funds, the GLD and the SLV:
GLD
We had A HUGE change in inventory, A DEPOSIT OF 2.08 TONNES into the GLD/Inventory rests at 900.75 tonnes.
SLV
We had another huge change in inventory, a deposit of 2.376 million oz of silver into the SLV Inventory/Tonight it rests at 342.765 million oz.
Both the GLD and SLV are massive frauds as they have no metal behind them!
First, here is an outline of what will be discussed tonight:

This post was published at Harvey Organ Blog on June 15, 2016.

Janet Yellen Attempts To Reassure The World That The Fed Has Not Lost Control – Live Feed

“Hope” is now an official policy of The Fed it seems as they say – unequivocally – that the labor market “will strengthen.” Never mind the uselessness of considering labor force in units of headcount in today’s part-time, lower wage, gig economy. Taking the ax to growth and rate-hike-trajectory expectations, once again crushing their overly-optimistic hockey-stick expectations back to what the market already thinks. Yield curves, Fed funds futures, and Eurodollar options – as well as gold – all signal a Federal Reserve that has lost credibility and therefore its ability to ‘manage’ anything. Grab your popcorn and watch as we see if the press corps can do their job?
July rate hike odds have collapsed to just 11% and September just 16%…

This post was published at Zero Hedge by Tyler Durden – Jun 15, 2016.

SP 500 and NDX Futures Daily Charts – Spinning Wheel

“But I am bound upon a wheel of fire, that mine own tears do scald like moulten lead.’
William Shakespeare, King Lear
In her defense, Janet is having to shovel out from a blizzard of bad karma created by her predecessors, as well as the results of her own actions. Nevertheless, she was not shanghaied into the job.
The Fed has revised to the downside the revision of growth which they had boldly put forward in April, along with predictions of rate hikes to cool off a robust economy.
Initially the markets took this turn back to dovishness as bullish, but then they thought about it and realized that the change in outlook is because there is no real economic recovery.
This is not a new concept, after all, a lack of recovery. Except in the fevered imaginings of skittish bureaucrats who can’t keep but failing, without changing.
We have not had a real recovery for about five years or so, after the initial rebound from the crash in 2007-8, which was caused by – miscalculations by the Fed.

This post was published at Jesses Crossroads Cafe on 15 JUNE 2016.

Wall Street’s Bond King Calls US Central Bank the ‘Zombie Fed’

Wall Street’s ‘bond king’ said investors have lost faith in central banks, and called the Federal Reserve the ‘Zombie Fed.’
Jeffrey Gundlach made the comments in an interview with Reuters after safe-haven German Bund yields fell below zero on for the first time and global equity markets continued a precipitous slide:
Central banks are losing control and they don’t know what to do … just like the Republican establishment and Donald Trump.’
CNBC reported German 10-year sovereign bonds going negative for the first time ever on Tuesday:
At around 8.30 a.m. London time, the yield hit zero and briefly fell into negative territory as investors continued to flock to safe-haven assets. Bond prices and yields move in opposite directions and a negative yield implies that investors are effectively paying the German government for the privilege of parking their cash. By the end of the European trading day, the yield was still just in negative territory at negative 0.0020%.’

This post was published at Schiffgold on JUNE 15, 2016.

Will Brexit Give The US Negative Interest Rates?

One of the oddest things in this increasingly odd world is the spread of negative interest rates everywhere but here. Why, when the dollar is generally seen as the premier safe haven currency, would Japan and much of Europe have government bonds – and some corporate bonds – trading with negative yields while arguably-safer US Treasuries are positive across the entire yield curve?
One answer is that the Bank of Japan and the European Central Bank are buying up all the high-quality (and increasing amounts of low-quality) debt in their territories, thus forcing down rates, while the US Fed has stopped its own bond buying program. So the supply of Treasury paper dwarfs that of German or Japanese sovereign debt. Greater supply equals lower price, and lower price equals higher yield.
The other answer is that this is just one of those periodic anomalies that persist for a while and then get arbitraged away. And Brexit might be the catalyst for that phase change.
It’s not clear that the UK leaving the EU will cause any real near-term problems. But the fact that it might happen at all is setting off a ‘who’s next?’ contagion in which the viability of the EU itself is called into question. From earlier this week:

This post was published at DollarCollapse on JUNE 15, 2016.