Pump it up! US Fed adds $104 billion in liquidity to markets in just one day

pump-it-up!-us-fed-adds-$104-billion-in-liquidity-to-markets-in-just-one-day

15-11-19 09:56:00,

The Federal Reserve, which has been boosting liquidity since mid-September, injected $104.293 billion to the financial markets on Thursday.

The addition of liquidity came in two parts, with one happening via overnight repurchase agreements totaling $73.593 billion. The other was from a $30.7 billion 13-day repo operation. In both interventions, dealers took less money than the Fed was willing to provide.

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The US Central Bank’s market operations are aimed at ensuring that the financial system has enough liquidity, after the short-term funding rate spiked to 10 percent from two percent overnight in September. The effective Fed-funds rate stood within the target rate on Wednesday, at 1.55 percent. The broad general collateral rate for repo trading stood at 1.54 percent.

The Federal Reserve’s practice of adding and subtracting liquidity from short-term markets to manage short-term interest rates goes back decades. However, it is raising concerns among analysts and portfolio managers who claim that the size of recent operations are large and may not be enough to solve lending pressures.

For more stories on economy & finance visit RT’s business section

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US tech companies to lose $40 billion as China’s Huawei takes its business to Europe

us-tech-companies-to-lose-$40-billion-as-china’s-huawei-takes-its-business-to-europe

05-11-19 12:09:00,

Chinese telecom giant Huawei has revealed plans to spend tens of billions of dollars on technology supplies in Europe over the next five years after being blacklisted in the US.

In an interview with AFP, Huawei explained that the decision was a direct result of Washington banning American companies from selling technology to the group. According to Huawei, there will be consequences for American companies such as Qualcomm, Intel, Micron, and Google. Huawei usually spends over $10 billion a year on semiconductors, spare parts, and services for its smartphones and network equipment.

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The company is increasing its procurement in China, Japan, and Europe to make sure its production chains remain unbroken, said Ernest Lin Zhang, president of enterprise activities for Western Europe at Huawei. He added the US ban has little impact on 5G-equipment supplies, while Huawei “no longer has any American product.”

In mid-October the company reported that it had supplied over 400,000 5G antennas worldwide to about 60 clients, more than half of them in Europe.

Lin Zhang said the company aims to set up a sovereign European cloud, which would enable the storage and processing of data online without going through the US technology giants. Huawei supplies equipment to operators providing this type of service, such as France’s Orange group and Telefonica in Spain.

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“Outside of Europe, we supply our own service, but on the continent, our strategy is based on joint development with our partners,” Lin Zhang said. “We provide them with support to develop their own cloud services.”

He continued: “If clients go through these operators, they are choosing a European operator, the data is stocked in Europe. We have absolutely no access to it. It is managed totally by our partners.”

Washington blacklisted the world’s largest telecom equipment maker earlier this year, and restricted it from doing business with US companies. Huawei has denied US allegations that it shares data with the Chinese government.

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14 Billion License Plate Image Database That Knows Where You Are In Real-Time

14-billion-license-plate-image-database-that-knows-where-you-are-in-real-time

03-10-19 03:16:00,

By MassPrivateI

Forget everything you have ever heard about police license plate readers and public safety, because it is all a lie.

Three major automated license plate reader (ALPR) companies have created a mind-boggling database of 14 billion license plate images that allows law enforcement to track anyone in real-time.

The Digital Recognition Network (DRN) has a database of over 8 billion license plate images and boasts about sending customers (law enforcement) live vehicle location alerts.

If you think there is nothing you can do to automatically detect vehicles, think again. DRN’s Live Alerts, part of the DRNsights for Insurance solution, uses vehicle location data gathered from over 8 billion nationwide sightings plus the 160,000 million gathered each month, to provide alerts when vehicles are detected.

Vigilant Solutions webpage has a database of over 5 billion license plate images and collects a little less than DRN daily.

We are the only ALPR provider that can offer over 5 billion nationwide detections and over 150 million more added monthly.

Vigilant Solutions also offers customers (law enforcement) a “Mobile Hit Hunter” or hotlist feature, that tracks vehicles in real-time.

credit: Vigilant Solutions

As I reported last month, Rekor Systems has a massive 30 state real-time license plate database that collects 150 million license plates every month.

But Rekor Systems does something the other ALPR companies do not. They can send law enforcement detailed descriptions of any vehicle in real-time.

Our software upgrades any IP, traffic, or surveillance camera into a vehicle recognition solution that can be used for realtime alerting of license plates. Not only does the software read a license plate number, but it also provides vehicle type, make, and color, something the competitors cannot do.

Rekor Systems, which is also being used by 69 countries, likely has a database of billions of people’s license plates.

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76 Billion Opioid Pills: Bombshell Report Unmasks Who Is Responsible For Epidemic

76-billion-opioid-pills:-bombshell-report-unmasks-who-is-responsible-for-epidemic

17-07-19 07:58:00,

US District Judge Dan Polster presiding over nationwide opioid litigation dismissed an order that now allows the general public, for the first time ever, to examine opioid sales from the Drug Enforcement Administration’s Automation of Reports and Consolidated Orders System (ARCOS) that details how the opioid epidemic exploded into almost every community across the US from 2006 through 2012.

“The public release of pre-2012 ARCOS data, which shows how prescription opioid pills flooded American communities, is a positive and transparent step forward,” plaintiffs attorneys Paul Hanley, Paul Ferrell and Joe Rice said in a statement released Monday.

“The data provides statistical insights that help pinpoint the origins and spread of the opioid epidemic.”

As per The Washington Post, the ACROS data showed big pharmaceutical companies pumped 76 billion oxycodone and hydrocodone pills from 2006 through 2012 into nearly every zip code across the country.

The data provides an unparalleled view of how legal opioid pills from big pharma fueled the opioid epidemic, which has resulted in approximately 100,000 deaths in those 4 years. 

Only six companies distributed 75% of all the painkillers during the six years: McKesson Corp., Walgreens, Cardinal Health, AmerisourceBergen, CVS, and Walmart.

Only three companies manufactured 88% of the opioids: SpecGx, a subsidiary of Mallinckrodt; ­Actavis Pharma; and Par Pharmaceutical.

The database shows how pills were transported from manufacturers to distributors, then administered in towns.

In lawsuits against big pharma companies, lawyers allege companies deliberately pumped legal opioid to reach the streets of communities despite signs the pills were being sold and diverted to the black market.

Plaintiffs have accused drug manufacturers and wholesalers of fueling the opioid crisis by distributing billions of pain pills for a profit, ignoring ethics and sometimes violating federal law. Big pharma has already paid out more than $1 billion in fines to the Justice Department and Food and Drug Administration over opioid-related issues.

The Post noted that government and corporations wanted to shield the public from ARCOS data.

During the past two decades, Florida transformed into the country’s top pill mill. Corrupt doctors opened up pain management clinics across the state,

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‘Trump’s $50-billion Middle East plan is a win-win for Israel & a loss for Palestine’

‘trump’s-$50-billion-middle-east-plan-is-a-win-win-for-israel-&-a-loss-for-palestine’

23-06-19 07:34:00,

The new multibillion US investment plan unveiled without the political solution part is beneficial to Israel, but not to Palestine, experts told RT.

The so-called “opportunity of the century,” which US President Donald Trump’s son-in-law, Jared Kushner, presented to media on Saturday, is entitled to create a million jobs in the West Bank and Gaza, while doubling Palestine’s GDP in 10 years. It would be achieved through donors, mainly the Gulf States, pouring $50 billion into the West Bank and Gaza as well as into Jordan, Egypt and Lebanon where several million Palestinian refugees are staying.

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Palestine’s ‘opportunity’ or ‘entirely wrong’? Rocky reception for dawn of $50-bn Trump Mideast plan

There’s, however, nothing new about such a plan, Saad Nimr, professor of political science at Birzeit University, told RT.

 “During Shimon Peres as a Prime Minister in Israel (1995-96), he tried that approach of talking economic ease to the Palestinians instead of talking about a political solution,” but no results were achieved.

Nimr reminded of a World Bank report, which said that Palestine would earn $5.5 billion extra every year if it had access to the Mediterranean and Dead Sea, which is now blocked by Israel.

The plan is basically an ultimatum for Palestine, which may be coerced into accepting it due to the lack of other options, former US diplomat Jim Jatras told RT.

“This is depending on the assumption that Palestinians have no place to go. ‘You don’t like this deal? – great. Wait till the next one which is even worse for you. You don’t like that? Wait till the next one, which will be even worse.’”

The Palestinians are rejecting the US plan because “the only purpose for the Americans is Israel’s prosperity,” Nimr said. Jatras agreed that Palestinians understand that it would be skewed in favor of Israel, with not only Israelis retaining settlements in the West Bank, but further expanding their control over land and water resources.

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Leaked Pompeo tape adds to growing doubts over Trump’s ‘deal of century’ for Middle East

For years,

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Record 12 billion rubles in CASH seized from arrested FSB officer – reports

record-12-billion-rubles-in-cash-seized-from-arrested-fsb-officer-–-reports

17-05-19 04:24:00,

Some 12 billion rubles ($185 million) in cash has been reportedly seized from an FSB colonel facing charges of large scale corruption – overshadowing the notorious case of Colonel Zakharchenko and his record of 8.5 billion rubles.

The piles of cash – literally – were discovered at three apartments belonging to FSB Colonel Kirill Cherkalin and, allegedly, to his allies, Russian media reported on Friday, citing sources close to the investigation. Aside from cash, a whole collection of luxury wristwatches and other treasures were seized as well.

The funds were allegedly provided to the official and two of his accomplices by various banks and other businesses for “protection.”

“We believe these funds have been received for a general ‘patronage’ from representatives of several commercial firms, first of all from directors of banks,” a source told Rosbalt.

Трёх сотрудников ФСБ, включая полковника Кирилла Черкалина, посадил бизнесмен Сергей Гляделкин. Он обвинил сотрудников ФСБ в присвоении его фирмы. Черкалин не сдавался во время ареста и ему сломали руку и ходит в гипсе. @bankstapic.twitter.com/8CFbFTijcn

— Игорь Пачковский (@5pLoo0uwJdudGc2) 26 апреля 2019 г.

On Thursday, Colonel Cherkalin, who has served as the head of the FSB department on cyber security in the banking sphere, was charged with receiving a hefty bribe of $850 thousand (some 55 million rubles) from a commercial firm. Cherkalin and his two accomplices – both of them are retired FSB Colonels – were arrested earlier this year and remain in custody by court ruling.

If confirmed, the sum of 12 billion rubles will mark the largest-ever amount of cash, seized from a corrupt official in Russia. Prior to this, the dubious ‘record’ was held by police colonel, Dmitry Zakharchenko.

While holding a senior anti-corruption post, Zakharchenko managed to amass a whopping 8.5 billion rubles (some $ 131.5 million) in cash, allegedly extorting bribes from various businessmen. The hearings on the Zakharchenko case continue, earlier this week a prosecutor asked the court to sentence the former law enforcer to 15 and a half years behind bars.

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IMF Hands $4.2 Billion in Loans for Ecuador for Julian Assange – Global Research

imf-hands-4.2-billion-in-loans-for-ecuador-for-julian-assange-8211-global-research

22-04-19 08:53:00,

The evidence of political pressure on Ecuador is surfacing. The IMF Executive Board Approved US$4.2 Billion  (435% of quota and SDR 3.035 billion).

Extended Fund Facility for Ecuador. The Executive Board agreed to this arrangement with strings attached. The Board’s decision enables the immediate disbursement of US$652 million (equivalent to SDR 469,7 million, or 67.3 percent of Ecuador’s quota). This arrangement provides support for the Ecuadorean government’s economic policies over the next three years provided they gave up Julian Assange.

It is very interesting how corruption and bribes grease the world. Every person who ever becomes a whistleblower on government goes to prison.

The USA immediately unveiled its request for extradition on computer hacking charges that carry 5 years. Of course, the US must put on its case to get its hands around Julian’s neck. Once he is extradited to the USA, they will unleash a battery of other charges to ensure he does life.

The rumblings behind the curtain are that the Democrats in league with the Deep State are behind this, hoping to force Assange to say he got Hillary’s emails from Putin as part of a plea deal. The danger of all of this nonsense is simply the plain fact it will bring us one more step closer to world war. What is clearly involved here seems to be a highly coordinated scheme that links the IMF and throwing Chelsea Manning in prison who will conveniently have to testify against Assange who can be eventually charged as was Manning and face the death penalty. By linking this to Russia, they hope to also prevent Trump from granting him any pardons.

This is getting very deep. Tyranny under the Banner of Liberty & Human Rights.

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Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Featured image is from HoweStreet.com

Disclaimer: The contents of this article are of sole responsibility of the author(s).

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Over $30 billion of Venezuela’s assets stolen on ‘Trump’s orders’ – official

over-30-billion-of-venezuelas-assets-stolen-on-trumps-orders-official

25-03-19 10:30:00,

More than US$30 billion were illegally diverted from Venezuela in two months, the country’s communications and information minister has revealed, accusing the US of orchestrating the operation.

Around $1 billion of the stolen funds from national assets in international banks was transferred to the personal accounts of opposition leaders, according to Communications and Information Minister Jorge Rodriguez. The money is meant to finance “terrorist cells against the country,” he added.

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“They have resorted to stealing the assets that Venezuela holds in different banks. This money is being confiscated at the request of the [US President Donald] Trump administration. Over $30 billion has been stolen in the past couple of months,” Rodriguez said on Saturday as cited by VTV state television.

The scheme was allegedly coordinated by US-backed opposition leader and self-proclaimed ‘interim president’ Juan Guaido, as well as his key aids – Leopoldo Lopez, and the recently detained Roberto Marrero, among others. Information gathered from Marrero’s cell phone indicates that Venezuelan lawyer Juan Planchart received some part of the stolen money, according to the minister.

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Last week, Venezuelan President Nicolas Maduro accused “the devil’s puppet” Guaido of plotting his assassination. Earlier in March, he accused Washington of stealing $5 billion in Venezuelan funds allocated for buying substances necessary for medicine production and their delivery to hospitals and pharmacies.

The US has been tightening sanctions and economic pressure on Maduro’s government and openly calling for regime change, while pledging support to Guaido. Last week, the Treasury Department slapped the country with sanctions on state-run mining company Minerven and its head, Adrian Antonio Perdomo Mata. Other restrictions target the Venezuelan oil sector, which is crucial for the country to keep the economy afloat, as oil revenues account for about 98 percent of its export earnings.

For more stories on economy & finance visit RT’s business section

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How $137 Billion Strangely Disappears

how-137-billion-strangely-disappears

24-01-19 06:29:00,

Authored by Veronique de Rugy via The American Institute for Economic Research,

In fiscal year 2018, $137 billion was paid “improperly” by the federal government, according to a recent report. That number sums all the improper payments by what the government calls high-priority programs. They are programs with improper-payments estimates exceeding $2 billion annually.

If it makes your head spin, it should.

Always the optimist, I have tried hard to find some good news in this year’s number. I have been tracking such improper payments for a while, and I am happy to report that, while they grew dramatically between their FY2013 level ($106 billion) and FY2015 ($137 billion), they haven’t gone up since.

Now that’s where the good news stops, I am afraid. In 2015, the $137 billion was spread over 15 programs. The $137 billion in improper payments in 2018 is spread over 12 programs. In other words, each program’s improper payments have grown.

Now, not all of these improper payments are the result of fraudulent activities. Some of them, which include overpayments as well as underpayments, might result from clerical error, from an innocent failure to confirm that a recipient is eligible to receive the amount of money that is disbursed, or from any violation of federal guidelines or rules.

While that may not sound as bad, these are still large-scale mistakes, errors that Uncle Sam continues making year after year in all impunity.

Interestingly, although not surprisingly, most of the government’s “high-error programs” are social welfare programs, which are fairly well-known for having low administrative costs in part because of poor oversight. The highest dollar amount of improper payments comes fromMedicaid. The program registered $36.2 billion in improper payments, or almost 10 percent of the $370 billion paid out to beneficiaries in 2018 in total. Second-highest is Medicare’s fee-for-serviceprogram, with improper payments totaling $31.8 billion (or 8.12 percent of that program’s total payments). If you add the $15.6 billion in improper payments under Medicare Advantage (Part C)to the other two health care programs, you get 60 percent of all improper payments on the list.

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$4 Billion & Growing: U.S. Payouts for Vaccine Injuries & Deaths Keep Climbing | Light On Conspiracies – Revealing the Agenda

4-billion-amp-growing-us.-payouts-for-vaccine-injuries-amp-deaths-keep-climbing-light-on-conspiracies-8211-revealing-the-agenda

25-11-18 09:38:00,

Published November 21, 2018

By

  • The Facts:The National Childhood Vaccine Injury Act has paid approximately $4 billion to families with vaccine injured children, and it’s continuing to grow. The act protects pharmaceutical companies from being held accountable and just compensates victims.
  • Reflect On:With all of the science, documented examples of scientific fraud and injury, why are vaccines still marketed as completely safe? There are multiple concerns to be addressed, so why are we told that “the science has spoken?” What’s going on here?

In most public health communications about vaccination, officials gloss over vaccine risks, dismissing any possible “side effects” as mild. However, vaccination programs have always resulted in more serious vaccine injuries for some. In the 1970s and early 1980s, for example, the diphtheria-pertussis-tetanus (DPT) vaccine and its whole-cell pertussis component had chalked up so much vaccine damage that a television documentary likened receiving a DPT shot to playing “vaccine roulette.”

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After the DPT debacle began attracting widespread attention, vaccine manufacturers started pressuring Congress for protection from vaccine injury lawsuits. Congress obliged. In 1986, President Reagan signed into existence a radical piece of legislation—the National Childhood Vaccine Injury Act (NCVIA)—which launched what the Act described as an “alternative remedy to judicial action for specified vaccine-related injuries.” A key component of the legislation involved creating the National Vaccine Injury Compensation Program (NVICP),

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277 Billion Reasons Why France Is So Worried About Italy’s Showdown With Brussels

277-billion-reasons-why-france-is-so-worried-about-italy8217s-showdown-with-brussels

02-11-18 11:18:00,

Authored by Don Quijones via WolfStreet.com,

…the French megabanks are on the hook!

France was just served with a stark reminder of an inconvenient truth: €277 billion of Italian government debt — the equivalent of 14% of French GDP — is owed to French banks. Given that Italy’s government is currently locked in an existential blinking match with both the European Commission and the ECB over its budget plan for 2019, this could be a big problem for France.

On Friday, France’s finance minister, Bruno Le Maire, urged the commission to “reach out to Italy” after rejecting the country’s draft 2019 budget for breaking EU rules on public spending. Le Maire also conceded that while contagion in the Eurozone was definitely contained, the Eurozone “is not sufficiently armed to face a new economic or financial crisis.” As Maire well knows, a full-blown financial crisis in Italy would eventually spread to France’s economy, with French banks serving as the main transmission mechanism.

France isn’t the only Eurozone nation with unhealthy levels of exposure to Italian debt, although it is far and away the most exposed. According to the Bank of International Settlements, German lenders have €79 billion worth of exposure to Italian debt and Spanish lenders, €69 billion. In other words, taken together, the financial sectors of the largest, second largest and fourth largest economies in the Eurozone — Germany, France and Spain — hold over €415 billion of Italian debt on their balance sheets.

While the exposure of German lenders to Italian debt has waned over the last few years, that of French lenders has actually grown, belying the ECB’s long-held claim that its QE program would help reduce the level of interdependence between European sovereigns and banks.

If anything, the opposite has happened: thanks to the ECB’s tireless efforts to underpin the Eurozone’s bond markets (by doing “whatever it takes” to make sovereign bonds virtually risk-free), banks have been able to make a tidy margin by simply bulk-buying government bonds at officially zero risk.

A few years ago fiscally hawkish Eurozone countries such as Germany, the Netherlands, and Finland lobbied to put an end to this practice by removing the risk-free status of certain risk-prone sovereign bonds.

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Germany Has Made Over 3 Billion Profit From Greece’s Crisis Since 2010

Germany Has Made Over 3 Billion Profit From Greece’s Crisis Since 2010

22-06-18 10:52:00,

Germany has earned around 2.9 billion euros in profit from interest since the first bailout for Greece in 2010.

As KeepTalkingGreece reports, this is the official response of the Federal Government to a request submitted by the Green party in Berlin.

The profit was transmitted to the central Bundesbank and from there to the federal budget.

The revenues came mainly due to purchases of Greek government bonds under the so-called Securities Markets Program (SMP) of the European Central Bank (ECB).

Previous agreements between the government in Athens and the eurozone states foresaw that other states will pay out the profits from this program to Greece if  Athens would meet all the austerity and reform requirements. However, according to Berlin’s response, only in 2013 and 2014 such funds have been transferred to the Greek State and the ESM. The money to the euro bailout landed on a segregated account.

As the Federal Government announced, the Bundesbank achieved by 2017 about 3.4 billion euros in interest gains from the SMP purchases. In 2013, approximately 527 million euros were transferred back to Greece and around 387 million to the ESM in 2014. Therefore, the overall profit is 2.5 billion euros.

In addition, there are interest profits of 400 million euros from a loan from the state bank KfW.

“Contrary to all right-wing myths, Germany has benefited massively from the crisis in Greece,” said Greens household expert Sven Christian Kindler said and demanded a debt relief for Greece.

“It can not be that the federal government with billions of revenues from the Greek interest the German budget recapitalize,” Kindler criticized. “Greece has saved hard and kept its commitments, now the Eurogroup must keep its promise,” he stressed.

“Sorry, Angie, I couldn’t make more, yet 2.9billion is not bad profit either…”

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