vrijdag 19 oktober 2018



Source: News Today

WATCH LIVE: LIVE: President Donald Trump Holds MAGA Rally in Mesa, AZ 10.19.2018






Why is Nobody Talking about The Dajjal… (2018-2019 EVENTS)


Source: VISUAL

Oil Price & Energy Insider

Oil Price 

Where Have The Oil Bulls Gone?

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Bullish sentiment has dominated oil markets in recent months, driven by a fear of supply shortages, but this sentiment has seemingly vanished over the last week

Friday, October 19th, 2018

The oil market is suddenly rather sanguine about a supply shortage in the short run. “The concerns about a tightening of supply, which dominated markets until two weeks ago, have abated despite the fact that the reasons for them (falling Iranian oil exports, declining oil production in Venezuela, reduced spare capacities) still apply,” Commerzbank said in a note. The bank said that the recent uptick in inventories provides some cover, and traders are no longer on edge about shortages. “Nonetheless, we believe it is still too early to sound the all-clear for the oil market.”

Oilfield services face tough quarter. Oilfield services companies are expected to post mediocre figures when they report third quarter results in the coming days. Oil producers have been under pressure to keep costs low, which means less revenue for servicers as more drillers are doing work in-house. Also, U.S. tariffs are driving up the cost for projects. “The risk for a number of (oilfield service) firms is to the downside,” Brad Handler, a Jefferies equity analyst in New York, told 

U.S. sanctions losing effectiveness. The overuse of sanctions by the Trump administration is undermining their effectiveness, according to Jacob Lew, the U.S. Treasury Secretary under President Obama, and Richard Nephew, the lead on Iran sanctions during the Obama administration. “Today, Washington is increasingly using its economic power in aggressive and counterproductive ways, undermining its global position and thus its ability to act effectively in the future,” Lew and Nephew write in a
Foreign Affairs essay.

Goldman: $100 oil not likely. Jeff Currie, head of commodities research at Goldman Sachs, 
said that $100 oil is not “very likely.” “We're not saying $100 oil cannot happen. It's not our base case nor do we think it's very likely,” Currie told S&P Global Platts in an interview. Reaching $100 would require a “sustainable loss in all of Iran's oil exports for an extendable period of time.”

Oil prices fall on U.S. production. The latest EIA report showed another strong increase in inventories, which helped push down prices mid-week. The data release also revealed a sudden drop in production, but that figure is an anomaly due to hurricane-related outages. Also, the effort by the Trump administration to smooth over tension with Saudi Arabia tamped down geopolitical concerns. “The inventory numbers were a real bearish surprise,” Michael Lynch, president of Strategic Energy & Economic Research, told 
Bloomberg. “That combined with the gradual lessening of tension” between the U.S. and Saudi Arabia “has taken some of the steam out of the market.”

SPR justified by Iran sanctions. The outages from Iran give the Trump administration the legal justification for a release from the strategic petroleum reserve (SPR). “I don't agree with the reimposition of sanctions against Iran, but if you are of the view that we need to take the strictest possible line to crack down on Iran's egregious behavior and we have to take their oil exports to zero ... then I think there is a plausible argument to say that is a legitimate emergency supply disruption that justifies a release from the Strategic Petroleum Reserve,” Jason Bordoff, founding director of Columbia University's Center on Global Energy Policy, said in an interview with 
S&P Global Platts.

ExxonMobil betting on China’s LNG demand. ExxonMobil (NYSE: XOM) is betting big on Chinese gas demand for the long haul. Exxon already has its massive Papua New Guinea gas production and LNG export facility, and it is looking to build LNG export capacity in Mozambique. Both gas-exporting regions are situated to serve Chinese demand. Meanwhile, Exxon is also building gas storage facilities and a major petrochemical complex in China, investments that will soak up the gas coming from its upstream assets in East Africa and the Pacific. The combination “will guarantee us a steady outlet for lots of our LNG for decades,” an unnamed Exxon manager told

Turkey seeking U.S. waiver on Iran. Turkey’s top refiner, Tupras, is 
seeking a waiver from the U.S. government that would allow it to continue importing oil from Iran beyond the November 4 implementation of sanctions. Turkey imported 97,000 bpd from Iran in August and 133,000 bpd in September. Other nations in Asia are in talks with the U.S. for waivers, and some refiners are confident they will receive one.

Neutral Zone fields to remain offline. Saudi Arabia had sought to revive talks with Kuwait over the restart of the Neutral Zone oil fields that straddles the border of the two countries. The fields have been offline for several years and have a capacity of around 500,000 bpd. The two sides seemed to be making progress but the 
talks recently broke down, suggesting the fields will remain offline for the foreseeable future.

U.S. sees no need for more sanctions on Venezuela. Venezuela’s catastrophic meltdown and the spiraling oil production crisis means that there is little reason to impose more sanctions, several U.S. officials say. “The fact is that the greatest sanction on Venezuelan oil and oil production is called Nicolas Maduro, and PDVSA’s inefficiencies,” an official told 
Reuters. “At the end of the day, Nicolas Maduro has taken care of really running PDVSA to the ground, and essentially more and more making it a non-factor.”

ConocoPhillips clears hurdle for Alaska drilling. ConocoPhillips (NYSE: COP)has 
cleared a key hurdle that could allow it to move forward with a $1.5 billion project in Alaska’s National Petroleum Reserve.

Flood of light oil from the Permian. Permian drillers are producing a flood of light oil, leading to more varieties of oil sold to refiners. “There’s room for more segregation instead of just West Texas Sour and WTI Midland crudes,” Neil Earnest, president of industry consultant Muse Stancil & Co., said in a phone interview with 
Bloomberg. “The growing production from the Permian has given rise to increasing variety of crudes.”

Colorado setback referendum sparks fear in industry. The Colorado referendum that could increase drilling setback distances from 500 feet to 2,500 feet has attracted nearly $40 million in spending from the oil industry, which is desperate to defeat the measure. By some 
estimates, the greater setback distances could cut the state’s oil production in half.

Best Regards,

Tom Kool
Editor, Oilprice.com

Nicaragua Will Attack America Stan 10-19-18


 Source: The Prophecy Club

[FINAL CHANCE] This interview will be taken offline on Sunday


Dear Reader,
This year, the biggest financial crisis in history could strike.
By the time you read about it in the newspaper (and it will be front-page when it does) it will have taken everybody by surprise.
But we’re not at that point yet.
That’s what makes this warning so valuable: you still have time to read up on the situation and act before October’s out.
Watch this video before we remove it from the internet this Sunday
It’s scarcely been mentioned in mainstream media – yet, as we have seen in past crashes, the impact of what’s unfolding over in Southern Europe (while we’re all transfixed by Brexit) – could cause a 38%+ drop in the stock market… trigger a financial crisis four times worse than the Lehman Brothers’ default… and put the Euro project at real risk.
I’m writing to you today as customer relations manager at Southbank Investment Research as our goal is to arm individuals like you with valuable research into what’s happening now that might affect your wealth in the future.
And since April of this year my colleague – former Goldman Sachs analyst Nickolai Hubble – has been warning his readers that the source of what could be the biggest financial crisis in history lies in Italy.

His special presentation – detailing what you can do to protect your wealth – has been watched by over 41,000 people.

And now is the FINAL CHANCE see it for yourself.

Nick’s detailed briefing will be taken offline this Sunday.

I hope you can spare some time to watch it. Click here to view it now.

Yours faithfully,
Chris Isaac
Customer Relations Manager, Southbank Investment Research

Politicians given promises of positions in return for digging dirt on Trump


 Source: Lucid Dreamer

Something Unseen Is Happening to This World (2018-2019)


Source: Visual

Jobless claims drop 5,000 to 210,000 in mid-October, stick near 50-year low

“The number of Americans losing their jobs and applying for unemployment benefits each week remained near a 49-year low in mid-October,” Jeffry Bartash reports for MarketWatch. “It can’t get a whole lot better in the U.S. job market. Openings just hit a record high, the U.S. unemployment rate has fallen to a 48-year low of 3.7% and hiring remains robust.”
The strong demand for American labor is pushing up wages and benefits, as well, fueling the longest economic expansion in U.S. history, Bartash adds.
As another Central American caravan heads for the U.S. border, Ana Quintana explains the significance in The Daily Signal. “The problem here is not a lack of compassion for these people, but rather, the dangerous precedent created by allowing a massive caravan to arrive at the U.S.’s southern border.” The bottom line: “The U.S. immigration system is already stretched beyond capacity and must prioritize those who apply for asylum in good faith.”
“One of the core promises that swept President Donald Trump into office was that he would renegotiate better deals for the United States with our traditional trading partners,” Secretary of Agriculture Sonny Perdue writes in The Spokesman-Review. “To strike the best deals possible for the United States, the president has shown that he is willing to walk away from the bargaining table if he feels our country is being unfairly treated.” The results speak for themselves, as evidenced by the newly minted United States-Mexico-Canada Agreement that will replace NAFTA.
“Some Democrats are trying furiously to push back against a New York Times article reporting what’s been patently clear for years to any honest observer: The party is abandoning its support of Israel,” the New York Post editorial board writes. “Even still-pro-Israel elected Democrats can sniff their party’s political winds — so don’t expect them to stay pro-Israel much longer.”

‘Vermoorde journalist Khashoggi was extremist en sympathisant van Hamas en Al-Qaeda’

‘Saudi Arabië wijst generaal Ahmed al-Assiri als zondebok aan’ – Verdachte  medeplichtige aan moord op journalist sterft in vreemd auto ongeluk

Turkse forensische experts onderzoeken de garage van de Saudische consul Mohammed al-Otaibi, die dinsdag plotseling naar zijn thuisland vertrok. Volgens Turkse media is hij de volgende die ‘geëxecuteerd’ zal worden. (Afbeelding: Getty Images (4)). 

In de Westerse massamedia wordt de vermiste, vermoedelijk in het Saudische consulaat in Istanbul vermoorde Jamal Khashoggi steevast als een gematigde, liberale journalist geportretteerd. We weten nu ook waarom: Khashoggi had in werkelijkheid een anti-Westers extremistisch islamitisch wereldbeeld, en schreef openlijk dat hij hoopte dat het de Palestijnse terreurorganisatie Hamas en de moslimlanden ooit zal lukken om de Joodse staat Israël te vernietigen. 

Jordan Schachtel wijst er in de Conservative Review op de Israël-hatende, soms zelfs bloeddorstige columns die Khashoggi voor de Washington Post schreef. Daarin verdedigde hij het terroristische geweld tegen de inwoners van de Joodse staat.
 In 2014 schreef hij ook een opinie artikel voor de Middle East Monitor, die banden heeft met de Moslim Broederschap die in onder andere Egypte officieel als terreurorganisatie te boek staat. In dit artikel sprak Khashoggi de hoop uit dat de moslimlanden gaan samenwerken met Hamas om de Joodse staat te vernietigen. 

Khashoggi was juist zeer extremistisch 

In andere stukken uitte hij inderdaad kritiek op de moslimlanden, maar niet omdat ze te extremistisch, maar in zijn ogen juist te slap waren door terreurorganisaties zoals Hamas niet voldoende te steunen. 
Khashoggi had ‘een extreem regressief, anti-Westers wereldbeeld, en een consequent patroon van het steunen van islamistische randbewegingen in de regio,’ aldus Schachtel, die weliswaar stelt dat ‘niemand het verdient voor zijn mening iets aangedaan te worden’, de Westerse media (voor de zoveelste keer) wel een vals beeld schetsen door Khashoggi als een gematigde en hervormingsgezinde journalist neer te zetten. (1) 

‘Generaal wordt zondebok’ 

Minder dan een dag nadat de New York Times beweerde dat Amerikaanse inlichtingendiensten denken dat kroonprins Muhammad bin Salman zelf het bevel gaf om de journalist te vermoorden en in stukken te hakken, zou er volgens de krant inmiddels ook een zondebok zijn aangewezen: generaal Ahmed al-Assiri, adviseur van de kroonprins en de woordvoerder van het leger voor de militaire interventie (=het platbombarderen) van Jemen. 
De officiële versie zou gaan luiden dat de generaal weliswaar de opdracht kreeg om Khashoggi te ondervragen, maar dat hij zijn boekje te buiten ging door hem te laten martelen en vermoorden. Desondanks zou de kroonprins ook in dit scenario deels schuldig zijn door het bevel te hebben gegeven om de omstreden journalist te ontvoeren. (2) 

‘Medeplichtige luitenant komt bij verdacht ongeluk om het leven’ 

Een 31 jarige luitenant van de Saudisch luchtmacht die deelgenomen zou hebben aan de moord op Khashoggi is in de hoofdstad Riyadh bij een verdacht auto ongeluk om het leven gekomen, zo berichten Turkse media. 
Mashal Saad al-Bostani zou een van de 15 mannen van het ‘hit team’ zijn geweest dat in het consulaat in Istanbul Khashoggi zou hebben ondervraagd, gemarteld en vermoord. Diverse media berichtten gisteren dat het 7 minuten duurde voordat de journalist dood was, en hij al in stukken werd gezaagd terwijl hij nog ademde. 
Volgens een columnist van de grote Turkse krant Hürriyet is Mohammed al Otaibi, de Saudische consul-generaal in Istanbul, de volgende die ‘geëxecuteerd’ zal worden. Otaibi vertrok dinsdagmiddag plotseling naar Riyadh nadat de Saudi’s weigerden om de Turken toegang te verlenen tot zijn huis, dat later toch doorzocht werd. (3)


Federale rechter geschokt over leugens Obama officials om Hillary te beschermen

Als twee (criminele) handen op één buik, en nog steeds beschermd door ‘Deep State’ officials. (Afbeelding: Getty Images (2)).

Het net lijkt zich dan toch langzaam te sluiten rond het wetteloze gedrag van de toenmalige regering Obama, in dit geval rond de verwoede pogingen om voormalige minister van BuZa Hillary Clinton te beschermen tegen gerechtelijke vervolging vanwege haar misbruik en lekken van staatsgeheimen via haar privé server naar een buitenlandse entiteit, en tevens haar dubieuze handelingen omtrent de terreuraanval op het Amerikaanse consulaat in Benghazi, Libië, in 2012. Een federale rechter toonde zich ‘geschokt’ dat officials van de regering Obama ‘mij duidelijk valse informatie’ hebben gegeven en ‘hebben gelogen’.

De burgerrechten organisatie Judicial Watch klaagde in 2014 Clintons ministerie van BuZa aan nadat de regering had geweigerd om in het kader van de FOIA (de Amerikaanse Wet Openbaarheid Bestuur) documenten over de Benghazi terreuraanslag te overhandigen. In andere rechtszaken eiste Judicial Watch inzage in informatie over Clintons server, waar het bestaan van werd ontdekt tijdens de eerste procesvoering.

‘Officials ministerie hebben tegen mij gelogen’

Het ministerie vroeg de federale rechter Royce Lamberth om de aanklacht af te wijzen, maar die weigerde dat. Vandaag verklaarde hij dat hij blij was dat hij destijds dat besluit heeft gemaakt, omdat officials van het ministerie hem opzettelijk blijken te hebben misleid door belangrijke documenten niet aan hem te overhandigen.
‘Het was mij duidelijk dat hooggeplaatste officials van het ministerie van BuZa valse verklaringen tegen mij hebben afgelegd,’ aldus de rechter. ‘Dat werd nog duidelijker na de ontdekking dat de informatie die mij werd gegeven zonder twijfel vals was... waarvan wij nu weten dat dit om het email systeem van de minister ging.’
De rechter vervolgde ‘niet te begrijpen’ waarom ‘deze hoge officials valse verklaringen’ aan hem hebben overhandigd. ‘Maar ik ben erg opgelucht dat ik ze niet heb geaccepteerd.’ Hij beschuldigde jurist Robert Prince van het ministerie zelfs van misleiding (lett. ‘dubbelspraak’) en ‘dezelfde woordspelletjes die Clinton gebruikte.’ ‘Dat was niet waar,’ was zijn reactie op de beëdigde verklaring dat alle relevante documenten waren overhandigd. ‘Dat was een leugen.’

Rechter ‘geschokt en met stomheid geslagen’

Rechter Lamberth toonde zich ronduit ‘geschokt’ en ‘met stomheid geslagen’ toen hij ontdekte dat de FBI tijdens het onderzoek naar Hillary Clintons server immuniteit heeft verleend aan Cheryl Mills, haar voormalige stafchef. ‘Ik had zelf ontdekt dat Cheryl Mills meineed heeft gepleegd en onder ede heeft gelogen... Ik was daarom erg geschokt te ontdekken dat haar door het ministerie van Justitie immuniteit werd verleend in deze email-kwestie.’
Vandaag voegde hij daaraan toe dat hij dat pas ontdekte toen hij het rapport van de inspecteur-generaal inzag, en daarin las dat Hillary door Mills werd begeleid tijdens de mondelinge hoorzitting hierover (waar Hillary Clinton overigens zelf ook glashard loog over de geheime emails op haar privé server).

‘Email schandaal doofpot is misbruik van macht en het Amerikaanse volk’

Judicial Watch president Tom Fitton roept het Witte Huis dan ook op om snel duidelijkheid te scheppen. ‘President Trump zou moeten vragen waarom zijn ministerie van BuZa nog altijd weigert om fundamentele vragen over Clintons emailschandaal te beantwoorden,’ aldus Fitton. ‘Het in de doofpot stoppen van dit email schandaal door Hillary Clinton en het ministerie komt neer op misbruik van de FOIA, de rechtbanken, en het recht van het Amerikaanse volk om dit te weten.’
Op Zero Hedge vraagt men zich af of de ‘Deep State’ rond de Clintons en Democraten achter de coulissen nog steeds de scepter zwaait, aangezien onlangs ook de aangekondigde vrijgave van geheime documenten over het Rusland onderzoek niet werd uitgevoerd (hoogstwaarschijnlijk omdat ook uit die documenten blijkt dat dit onderzoek naar zogenaamde samenzwering tussen Trump en Rusland één grote hoax is en enkel om politieke redenen tegen Trump werd opgestart).


President Trump Delivers a Statement Upon Departure



The Depopulation Agenda 21


 Bron: De Waarheidskrant

How I assembled The Matrix Revealed: the key symbol

The key was handed to me by a colleague and friend.

In 1987, when I was researching my book, AIDS INC., I took a side road. It was prompted by a conversation I had with the brilliant hypnotherapist, Jack True. He was telling me about experiences he'd had with his patients under hypnosis.

"Some patients encounter a 'monolith'," he said. "They come across a symbol that is there in the subconscious. Sometimes it looks like a closed door. Sometimes it shows up as a blank wall. Sometimes it's a geometric shape. One patient actually called it a 'brick sky'."

"But in every case, it locked up the patient's ability to recall or explore under hypnosis. It was like a giant obstruction on a road. However, these patients could describe something about the nature of the symbol. They said it was broadcasting a message: 'THIS IS REALITY'."

"The patients were in awe of the symbol. It had a deep emotional effect on them. It was as if many different realities had come together to form this single symbol, like separate pieces clicking into place."

Jack went further. He stated that the symbol induced a profound passivity in his patients...

Jack subsequently devised strategies to take apart the symbol, so these patients could rid themselves of their passivity and access huge amounts of previously blocked energies.

Well, I was shocked, because my research on my book had followed a parallel course. I'll explain.

The AIDS cover story that had been invented by medical researchers was all about One Reality, one disease condition caused by one virus, one label, one symbol for the condition: "AIDS".

When, in fact, that was "the obstruction on the road" which was blocking further investigation. In fact, the whole "Oneness" myth was a lie. A gigantic lie.

A very, very convincing lie. An awesome lie.

The truth was, so-called AIDS was many different conditions (realities) which had been falsely "clicked" together, through massive propaganda.

That was the key to unlocking the puzzle. And it was the key for me to move into new territory with new energy and confidence.

I'd been stalled at the wall, but now I could advance.

The awesome symbol, "AIDS," had been shattered to pieces.

Since the publication of my book, I've of course investigated a number of other subjects, and in each case, there was a symbol, a monolith, an obstruction, and in every case I've taken the monolith apart to discover that it's hiding a plurality of scandals and crimes and deceptions and realities.

The One False Unity concealing The Many.

These monoliths are very, very effective because---and this is vitally important to understand---they mirror the tendency of the subconscious mind to fall to its knees before A Single Symbol.

People gravitate to single causes, single symbols in every area of life, and they don't penetrate further.

This is an aspect of the Matrix.

False Unities are the meat and potatoes of very high-level propaganda. They are launched in politics, economics, organized religion, science, psychology, the military, mind control, in all the academic disciplines.

As an analogy, consider a painting in which the three-dimensional perspective has been radically shortened to eliminate the background. But the background is really where all the action is. The foreground is the false Oneness.

Grasping all of this allowed me to go further than I thought possible in putting together The Matrix Revealed. My method of investigation altered radically, and I hit paydirt.

The Matrix is a multi-layered, multi-dimensional operation, seeded with symbols that broadcast FALSE UNITY.

And these symbols collaborate with the subconscious tendency to buy those UNITIES.

Your freedom and power emerge when the subconscious tendency is made conscious and can be seen in the light of day.

That is the purpose of my collection, The Matrix Revealed
by Jon Rappoport

The Matrix Revealed by Jon Rappoport
Here are the contents of The Matrix Revealed:

* 250 megabytes of information.

* Over 1100 pages of text.

* Ten and a half hours of audio.

The 2 bonuses alone are rather extraordinary:

* My complete 18-lesson course, LOGIC AND ANALYSIS, which includes the teacher's manual and audio to guide you. I was previously selling the course for $375. This is a new way to teach logic, the subject that has been missing from schools for decades.

* The complete text (331 pages) of AIDS INC., the book that exposed a conspiracy of scientific fraud deep within the medical research establishment. The book has become a sought-after item, since its publication in 1988. It contains material about viruses, medical testing, and the invention of disease that is, now and in the future, vital to our understanding of phony epidemics arising in our midst. I assure you, the revelations in the book will surprise you; they cut much deeper and are more subtle than "virus made in a lab" scenarios.

The heart and soul of this product are the text interviews I conducted with Matrix-insiders, who have first-hand knowledge of how the major illusions of our world are put together:

* JACK TRUE, the most creative hypnotherapist on the face of the planet. Jack's anti-Matrix understanding of the mind and how to liberate it is unparalleled. His insights are unique, staggering. 43 interviews, 320 pages.

* ELLIS MEDAVOY, master of PR, propaganda, and deception, who worked for key controllers in the medical and political arenas. 28 interviews, 290 pages.

* RICHARD BELL, financial analyst and trader, whose profound grasp of market manipulation and economic-rigging is formidable, to say the least. 16 interviews, 132 pages.

Also included:

* Several more interviews with brilliant analysts of the Matrix. 53 pages.

* The ten and a half hours of mp3 audio are my solo presentation, based on these interviews and my own research. Title: The Multi-Dimensional Planetary Chessboard---The Matrix vs. the Un-Conditioning of the Individual.

(All the material is digital.  Upon ordering it, you'll receive an email with a link to it.)

Understanding Matrix is also understanding your capacity and power, and that is the way to approach this subject.  Because liberation is the goal.  And liberation has no limit.

I invite you to a new exploration and a great adventure.
Use this link to order Jon's Matrix Collections.
Jon Rappoport
The author of three explosive collections, THE MATRIX REVEALED, EXIT FROM THE MATRIX, and POWER OUTSIDE THE MATRIX, Jon was a candidate for a US Congressional seat in the 29th District of California. He maintains a consulting practice for private clients, the purpose of which is the expansion of personal creative power. Nominated for a Pulitzer Prize, he has worked as an investigative reporter for 30 years, writing articles on politics, medicine, and health for CBS Healthwatch, LA Weekly, Spin Magazine, Stern, and other newspapers and magazines in the US and Europe. Jon has delivered lectures and seminars on global politics, health, logic, and creative power to audiences around the world.
You can find this article and more at NoMoreFakeNews.

Agenda publieke optredens bewindspersonen ministerie van Financiën, week 43, 22 tot en met 26 oktober 2018

19 oktober 2018 - 16:00

Minister Hoekstra


Staatssecretaris Snel



Source: Florida Maquis

Trump could end it all in a BLINK


 Source: American Intelligence Media

Strange Report From An Extraterrestrial Entity


Source: Strange Things

News Capital & Conflict

Et in Arcadia ego

Dear Reader

“… as of today, the doom loop is very big and very much alive.”

Lorenzo Codogno and Mara Monti – The London School of Economics
Hanging in the Louvre in Paris is a work of art that has provoked debate and courted controversy ever since the oil dried on the canvas centuries ago.

It depicts a group of shepherds inspecting a massive stone tomb. One turns in dismay, pointing to an inscription on the stone. Et in Arcadia ego, it declares – “I too lived in Arcadia”, or “I too am in Arcadia”.

Some conspiracy theorists have claimed that the phrase is actually intended as an anagram of “I! Tego arcana dei” – “Behold! I keep God’s secrets”…

A more common interpretation is that death awaits everybody, even those in paradise (Arcadia) – that all good things must come to an end.

All things must come to an end eventually – even in financial markets.

Nick Hubble first warned that death was coming to the Italian bond market in April. Markets and the mainstream media are slowly beginning to recognise that the illusion paradise created by the European Central Bank (ECB) can’t last forever.

Trouble in paradise: the doom loop

If you’d like to see a more modern depiction of what death arriving in paradise looks like, you need only look at the price action of an Italian bank. This is Unicredit, Italy’s largest:

(Click to enlarge)
The chart above is a little deceptive as it makes it appear that Unicredit’s stock price has flatlined in recent years. Take a more recent view below, and you’ll see that the extent to which Unicredit has been bludgeoned by the market:

(Click to enlarge)
Italian banks have been in deep water ever since the financial crisis. Their “non-performing loans” (NPLs, debts that will not be repaid) have weighed them down, lying toxic on their balance sheets.

They’ve managed to package them up and sell a fair amount of them off in recent years (good luck to whoever bought them), however the total amount of NPLs within the Italian banking system still stood at €127.5 billion in July, and it’s not likely they’ve managed to sell much more since then, given the chaos that has followed.

But there’s something much more deadly awaiting the Italian banks. While they were selling off their bad debts… they were buying “safe” Italian government debt hand over fist. Italian government debt that is losing value by the day.

You may be interested in

[UPDATE] Immediate Action Required
Discover why the situation in Italy is escalating…
And why you need to act now to preserve your financial future.
Bloody October is getting bloodier!

Italian banks now own €381 billion in Italian government bonds, which are dropping in price as investors recognise the risk of the Italian government being unable to pay its debts. The capital of the Italian banks is being indirectly eroded by their own government. Their solvency is being threatened not just by their bad debts – but by the “safe” debts to the government that were supposed to be risk free.

It’s a “doom loop”: collapsing confidence in the Italian government leads to a collapse in confidence in Italian banks, which leads to a further decline in confidence in the Italian government as it’ll then have a banking crisis on its hands on top of everything else.

Markets reflect this reality in the price of insurance for Italian bank and government debt, which is rising in tandem. The chart below, courtesy of Holger Zschaepitz, illustrates how the risk of a default by the Italian government and the Italian banks are moving in tandem:

The ECB created an illusion of peace by propping the Italian bond market up (hence the rally in Unicredit after 2011) but its bond purchases have been declining, and halved at the beginning of this month. Considering the losses sustained in Italian bonds already, when the ECB stops buying Italian bonds altogether (scheduled for the end of the year), Italian banks (not to mention the government) will be in even more trouble.

For all the illusions cast by the ECB, the reality of The Italian Problem will be not be denied. Et in Arcadia ego.

We’re taking our Italy warning webinar offline this weekend. If you’ve not watched it yet, I recommend you do so now.

Have a good weekend,

Boaz Shoshan
Editor, Southbank Investment Research

PS If you’re interested in a radical approach to receiving regular income (almost like dividends, just more regular), then Eoin Treacy has a proposition for you – click here to find out more.

The Foxes Are in Charge of The Swamp

HAMILTON, BERMUDA – Hmmm… The plot thickens.

The Trump team came into office with what might have been a historic opportunity to drain the Swamp and take the feds down a peg. Mr. Trump even said he would eliminate the national debt in eight years.

Instead, he teamed up with Democrats to crash through the debt ceiling, gave the big spenders at the Pentagon even more money, cut taxes, and made the Swamp even deeper.

Predictably, tax revenues declined and the deficit rose. And the national debt went up by more than $1 trillion over the last 12 months.

From The New York Times:

Personal tax receipts are up on their own, but corporate tax receipts are down by about a third from a year ago.

That overall drop looks worse when you consider inflation. A dollar today buys about 2 percent less than it did a year ago, according to the inflation index used by the Federal Reserve to set monetary policy. So the government brought in slightly less money year over year, and that money was worth less than the equivalent amount a year ago…
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