from Project Veritas
House Hearing: Only Jamie Dimon’s Microphone Mysteriously Malfunctions During Pivotal Questioning
by Pam Martens and Russ Martens
Wall Street on Parade
CEOs from the six largest banks on Wall Street testified under oath yesterday before the House Financial Services Committee. But only one CEO, Jamie Dimon, had an ear-piercing electronic sound emanate from his microphone, which blocked out the sound of his voice, when he was asked key questions by two separate members of Congress.
The situation was so bizarre that Congressman Juan Vargas, a Democrat from California, said this about the episodes: “It reminded me of the movie ‘Young Frankenstein.’ Every time they said ‘Luther’ the horses would get scared. Every time they said ‘Jamie Dimon,’ the computers would get scared.”
The first episode occurred after Congressman Al Green, a Democrat from Texas, told Dimon that two of the banks previously purchased by JPMorgan Chase had used slaves as loan collateral and at one point, after calling in a loan, the bank actually owned 1,250 slaves. Green asked Dimon: “Will you atone in the form of recompense,” and “what will you do for your banks owning human beings…?”
Fed Drains $485 Billion in Liquidity From Market via Reverse Repos, Undoing Four Months of QE, Even as QE Continues, Total Assets Near $8 Trillion
by Wolf Richter
Wolf Street
It’s a crazy situation the Fed backed into as tsunami of liquidity goes haywire, banking system strains under $4 trillion in reserves, and General Treasury Account gets drawn down.
This morning, the Fed sold a record $485 billion in Treasury securities via overnight “reverse repos” to 50 counterparties, beating the prior record set on December 31, 2015. These overnight reverse repos will mature and unwind tomorrow morning. Today, yesterday’s $450 billion in overnight reverse repos matured and unwound, and were more than replaced with this new batch of $485 billion in overnight reverse repos.
Reverse repos are liabilities on the Fed’s balance sheet. They’re the opposite of repos, which are assets. With these reverse repos, the Fed is selling Treasury securities to counterparties and is taking their cash, thereby massively draining liquidity from the market – the opposite effect of QE.
Biden’s $6 Trillion Socialist Budget Will Cause Even More Inflation and Even More Shortages
by Michael Snyder
The Economic Collapse Blog
If you are enjoying the ride on the highway to hyperinflation, then you are going to absolutely love Joe Biden’s new budget. Instead of realizing the mistakes that he has made and reversing course, Biden has decided that now is the time to push the accelerator to the floor. That means that a lot more inflation is on the way, and I am encouraging all of my readers to do what they can to get prepared for that. In my latest book, I sound the alarm about what hyperinflation will eventually do to our economy. We are literally in the process of becoming Venezuela, and most Americans have absolutely no idea how horrific that will be. In Venezuela today, almost everyone is a millionaire, but just about everyone is also living in poverty because the money is absolutely worthless. We don’t want to end up like that, but that is the road that we are on.
While he was still in the White House, President Trump’s proposed budget for 2021 was $4.8 trillion. That is an extremely high number, but Joe Biden’s new budget for 2021 is actually 25 percent larger…
Morbidly Obese People Concerned with Health Line Up for Vax Death Jab Smorgasbord
by Jeff Berwick
Dollar Vigilante
One of the social media warriors’ favorite naggings is “The government Would NEVER Do That!”
Let’s see… What else wouldn’t the government do?
Would they, for example, approve of intentionally placing homeless children with male pedophiles and even giving these hands-on dads a regular care allowance? Would they allow this practice to go on for 30 years? I’m talking of the “Kentler Project” in Berlin, where authorities allowed 1970s psychology professor Helmut Kentler to conduct his “experiment.” Kentler was convinced that sexual contact between adults and children was harmless and that male pedophiles would make especially loving foster parents.
Researchers into the project later found that it was supported by a “network across educational institutions,” the state youth welfare office and the Berlin Senate, in which pedophilia was “accepted, supported, defended.”
Senate Republicans Kill Bipartisan Bill Establishing 9/11-Style Commission Into January 6th Capitol Attack
Senate Republicans killed a bipartisan bill establishing a commission to investigate the Jan. 6 attack at the Capitol, filibustering the first legislation since President Joe Biden took office after a multi-hour, overnight session pushed the vote back a day.
by Andrew Trunsky
DailyCaller.com
Senate Republicans killed a bipartisan bill establishing a commission to investigate the Jan. 6 attack at the Capitol, filibustering the first legislation since President Joe Biden took office after a multi-hour, overnight session pushed the vote back a day.
The bill failed 54 to 35, getting the support of six Republicans instead of the 10 that it needed to overcome the Senate’s 60-vote threshold required to begin debate. The bill would have established a 10-member, bipartisan commission into the Capitol riot, when pro-Trump rioters attempted to block Congress from certifying Biden’s victory.
Senate Minority Leader Mitch McConnell led the Republican opposition, and called the bill “slanted and unbalanced” last week.
The U.S. Government is Here to Help: Tariffs on Lumber Could Double
by Mac Slavo
SHTF Plan
The United States government is looking at increasing the theft and costs of lumber to the public as prices are skyrocketing. In fact, the “authorities” want to double the tariffs on lumber coming from Canada.
According to reports, the masters will be making it much harder for the slaves to afford lumber after they steal half their income in taxes then apply tariffs and hyperinflation to transfer wealth to themselves. Remember, we warned when former president Donald Trump decided to play the tariff game that those costs would be placed firmly on the backs of the American consumer, and we were right. There is too much evidence to ignore that tariffs are not put in place to “hurt” other countries but to destroy the purchasing power of an American consumer’s dollar.
This situation is no different under Biden than it was under Trump. Americans who purchase lumber will be footing the bill for these taxes. Wake up and start to realize what the system is doing. It’s going to be too late at some point.
Cruz Warns Vaccine Passports Have ‘Potential for Government Overreach’ – Vaccination ‘Should Be Your Personal Choice’
by Trent Baker
Breitbart.com
Friday on FNC’s “Fox & Friends,” Sen. Ted Cruz (R-TX) introduced his bill to ban vaccine passports.
Known as the “No Vaccine Passports Act,” the legislation would “prohibit” the government and employers from mandating vaccines, Cruz said. He argued that getting the vaccine should be someone’s personal decision.
“Listen, I think vaccines are terrific. I’ve had the vaccine myself. I think it’s given us a lot of freedom, but I think there’s a real potential for government overreach, and I don’t believe anyone should be forced to take the vaccine,” Cruz advised. “It should be your personal choice. You should make the choice based on your health, based on the decisions you want.”
He continued, “[I]’ve introduced this week legislation that would, number one, prohibit any federal vaccine passport, prohibit the Biden administration from doing anything to mandate vaccines, but it also prohibits discrimination in employment.
Flush with Cash to Pursue “That Billion-Dollar Drill Hole” with OreFinders CEO, Stephen Stewart
CEO Stephen Stewart still believes Orefinders (TSXV:ORX – OTC:ORFDF) could one day deliver “that billion-dollar drill hole.” In fact, that is why he negotiated a deal with Kirkland Lake Gold where they can earn up to 75% of Orefinders’ Mirado, McGarry and Knight projects in exchange for spending C$60M on these projects. Stephen believes this deal eliminates the dilution and financing risk for Orefinders’ shareholders while simultaneously increases the possibility of producing “that billion-dollar drill hole.”
Orefinders is gold explorer with the third largest land package on the Ontario side of the prolific Cadillac break in Canada and is about to commence six to nine months of non-stop drilling at its projects. In addition to the tremendous discovery potential, the company has an approximately one million gold ounce resource (historic and NI43-101) at its three projects combined as well as three control block positions in three prospective junior miners. In this interview, CEO Stephen Stewart explains why the deal with Kirkland Lake Gold makes sense for Orefinders’ shareholders and how it better positions the company for a potential major gold discovery.
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Fury Gold Finds More High Grade Gold and Expands Deposit
from Kerry Lutz's Financial Survival Network
Fury Gold Mines (Ticker on TSX/NYSE: FURY) just released significant drill results. It drilled a top five intercept to date – 23.27 g/t gold over 7.09 meters outside the defined resource at Eau Claire. The last time we spoke with CEO Mike Timmins, he assured us the pace of results was quickening, and clearly he has over-delivered. He and Michael Henrichsen (Exploration SVP) came on to discuss the impact of the latest news.
Results have been coming in at a rapid rate. It was just a week ago when the company announced it found more high-grade gold in the adjoining Snake Lake structure. In addition it identified a new mineralized horizon between the Eau Claire and Snake Lake structures.
Timmins expressed the belief that Snake Lake could have the same size potential as Eau Claire, which would greatly increase the scale of the project. He commented, “This is the kind of project that everyone is looking for… We’re just getting started, 7 months in.”
As noted mining analyst and newsletter writer David Erfle recently observed, “[The] Junior Gold Stock Fire sale is probably over…” And as the market recognizes the great potential of Fury, the recent rise in its share price is further evidence in support of that view. If things continue on the way they have, there could be a big payday ahead for Fury’s shareholders.
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How to Get Your Normal Life Back with Dr. John Huber
from Kerry Lutz's Financial Survival Network
By all appearances the Covid-19 pandemic appears to be winding down. After the great disruptions and chaos of the past year, people are now wondering how to resume their normal lives. Many of you are suffering from PTSD. Some people just can stand the idea of giving up their masks in public. Then there’s the issue of re-starting your social life. And what about those who have4 suffered grave economic injury, how do you put it all in the past and move? Noted clinical psychologist Dr. John Huber gives some solid easy steps you can take to create a new normal that’s even better than the old one.
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BitCON – He Has a Point
by Karl Denninger
Market-Ticker.org
I recently got yet another in a long line of we “lost” information to hackers emails from a company. It was from ParkMobile, which is more-or-less mandatory in some towns as they’ve removed parking meters and turned their pay-for parking facilities into an “app required” environment. No more quarters in the meter or stuffing a couple of dollar bills in a dropbox with the same number as the spot you’re parked at. I haven’t used the app in a couple of years — but it’s on my phone as I do travel and have needed it in the past.
Shortly thereafter I also started getting text messages that were clearly scams, and a rash of emails claiming that I’d been taped watching porn on my computer through the webcam (which said computer does not have connected unless I’m actively doing an interview) and, that I could avoid having my masturbation sent to all my contacts only if was to send $500 in BitCON to some address.
The threat is laughable for a whole host of reasons, but then again plenty of people probably think they did get caught because, well, watching porn on the Internet is popular.
Of note all of these scams through the last several years have attempted to extort payment in BITCON.
Suffering a Sea-Change
by Alasdair MacLeod
Gold Money
There is an established theoretical relationship between bonds and equities which provides a framework for the future performance of financial assets. It would be a mistake to ignore it, ahead of the forthcoming rise in global interest rates.
Price inflation is roaring, and so far, central banks are in denial. But it is increasingly difficult to see how monetary policy planners can extend the suppression of interest rates for much longer. There can only be one outcome: markets, that is to say prices determined by non-state actors, will force central banks to capitulate on interest rates in the summer.
Hardly noticed, China is deliberately putting the brakes on its economy, which will cause an inflationary dollar to collapse, unless the US defends it by putting up interest rates. Deliberate? Almost certainly, as part of its strategy, China is taking the financial war with the US into the foreign exchanges.
Justice Department Opens Probe into Potential Bank Cartel that Financed Archegos
by Pam Martens and Russ Martens
Wall Street on Parade
Last evening, Bloomberg News, followed by the Wall Street Journal, reported that the U.S. Department of Justice has opened a probe into the late March collapse of the Archegos family office hedge fund.
The Wall Street Journal reported that “Banks that lent to Archegos, including Credit Suisse Group AG, UBS Group AG, Goldman Sachs Group Inc. and Morgan Stanley,” had been contacted for information by the Justice Department.
According to media reports, Archegos is believed to have leveraged $20 billion of its own capital into more than $100 billion in stock and derivative exposure through margin loans from the banks named above, as well as others.
Study: Mask Mandates Didn’t Help Slow Spread of Covid-19
Plus: ACLU and Planned Parenthood sue over Arkansas abortion ban, heartland states see fastest growth in foreign-born residents, and more…
by Elizabeth Nolan Brown
Reason.com
Mask use was associated with slowed COVID-19 spread, but only during periods of low case growth. A new study suggests state mask mandates didn’t help slow COVID-19 transmission. The pre-publication study found “qualitatively comparable courses of viral spread” among states with early, late, and no mask mandates.
Mask use—defined as “the percentage of people who always wear masks in public settings”—was associated with slower spread during low-transmission periods. But it was not associated with slower spread during high-transmission periods.
Going into the study, lead author Damian D. Guerra, an assistant professor of biology at the University of Louisville, and co-author Daniel J. Guerra, of VerEvMed, “hypothesized that statewide mask mandates and mask use are associated with lower COVID-19 case growth rates.”
Biden Pledges to Release Covid-19 Origin Report “Unless There’s Something I’m Unaware Of”
from Zero Hedge
President Biden is just fine releasing the US Intelligence community’s 90-day examination of where COVID-19 originated, unless it contains surprises.
Shortly before boarding Air Force One for a Thursday trio to Ohio, Biden was ashed whether he planned to release the intelligence report, to which he replied “Yes,” adding “unless there’s something I’m unaware of.“
Watch: […]
President Biden says he pledges to release the full report on COVID-19’s origin after 90 days “unless there’s something I’m unaware of” https://t.co/yfsqs3e1t7 pic.twitter.com/9YTl0ggmZV
— CBS News (@CBSNews) May 27, 2021
As we noted on Wednesday, less than 24 hours after CNN threw Biden under the bus for canceling a State Department effort launched under Trump to get to the bottom of the origins of COVID-19, Biden backpedaled – ordering the US intelligence community to conduct a 90-day investigation into how the pandemic began.
So Hunter Biden Took a Big Pay Cut from Burisma After ‘the Big Guy’ Lost Office…
by Monica Showalter
American Thinker
[See also Andrea Widburg’s post on Joe Biden lying about his involvement with Burisma here.]
Among the Bidens, coincidences abound.
So sure enough, the New York Post, in its daily journalistic diggings, found this beaut from deep inside the bowels of Hunter Biden’s abandoned laptop computer.
The Ukrainian energy company that was paying President Biden’s son Hunter $1 million a year cut his monthly compensation in half two months after his father ceased to be vice president.
From May 2014, Burisma Holdings Ltd. was paying Hunter $83,333 a month to sit on its board, invoices on his abandoned laptop show.
But in an email on March 19, 2017, Burisma executive Vadym Pozharskyi asked Hunter to sign a new director’s agreement and informed him “the only thing that was amended is the compensation rate.”