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Israeli defense agent at the center of Biden family corruption probe says he’s a fugitive living in undisclosed location

Gal Luft, the “missing” witness in the House Oversight Committee’s Biden family corruption investigation, has told The Post he is alive and living as a fugitive in an undisclosed location. The former Israeli Defense Force colonel vanished from Cyprus last month while on bail awaiting extradition to the US on seven charges. He denies the allegations, which include five charges relating to …

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Benny Johnson: ‘Results are in— conservative boycotts are crushing woke corporations’

Results are in— conservative boycotts are crushing woke corporations: -Target has lost $12 billion in the last week -Bud Light has lost $26 billion in the past 2 months -Kohls stock dropped 6.5% in two days This is what WINNING looks like. When will these companies learn… — Benny Johnson (@bennyjohnson) May 31, 2023 https://twitter.com/JoeyMannarinoUS/status/1663895742455373832 …

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Land Of Confusion! US Mortgage Demand Drops 3.7% From Previous Week, Under Biden: Mortgage Purchase Demand Down -44%, Refi Demand Down -87%, Mortgage Rates UP 106%

by confoundedinterest17 Under Biden, the US economy is a land of confusion. Under Biden’s Reign of Error, Mortgage Purchase Demand is down -44%, Refi Demand is down -87%, and Mortgage Rates are UP 106%. Mortgage applications (demand) decreased 3.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for …

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The Swamp will protect its own

Grassley & Comer To Wray: Provide The Unclassified Documents Or Face Contempt WASHINGTON – House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) and Senator Chuck Grassley (R-Iowa) today issued the following statements after their discussion with FBI Director Christopher Wray about producing to Congress the unclassified, FBI-generated record alleging a criminal scheme involving then-Vice President …

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No need to wait for the debt ceiling deal vote to send military aid to Ukraine

WHITE HOUSE'S KIRBY: U.S. ANNOUNCING ADDITIONAL AID PACKAGE FOR UKRAINE No need to wait for the debt ceiling deal vote — zerohedge (@zerohedge) May 31, 2023 White House: “Horrible things will happen if the US Treasury runs out of cash”. Also WH: “We’re sending 1% of our remaining cash to Ukraine”. To know what people …

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Purdue Pharma family protected from lawsuits in exchange for addiction treatment funding

‘A court ruled the owners of Purdue Pharma, the Sackler family, will be protected from civil lawsuits linked to the opioid crisis in exchange for a $6 billion settlement. Purdue, which filed for bankruptcy in 2019 amid thousands of lawsuits, made drugs like OxyContin and is blamed for fueling the opioid epidemic.’ https://www.pbs.org/newshour/show/purdue-pharma-family-protected-from-lawsuits-in-exchange-for-addiction-treatment-funding There’s a …

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Sweet Home Chicago? Chicago PMI Unexpectedly Plummets, Longest ‘Contraction’ Streak Since Great Financial Crisis

by confoundedinterest17 Sweet Home Chicago? After the unexpected resurgence in April, Chicago PMI plunged in May from 48.6 to 40.4 (against expectations of 47.3). That is the ninth straight month below 50 (in contraction)… Source: Bloomberg That is the longest streak of prints in ‘contraction’ since the Great Financial Crisis. Under the hood, none of …

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Adam Hamilton: Gold Stocks Soaring Again

Guest Post by Adam Hamilton at Zeal LLC: The gold miners’ stocks are soaring again, just blasting to new upleg highs this week!  They are following their metal higher and amplifying its gains like usual.  Yet despite their dramatic surges in recent weeks, both gold and gold stocks have lots of room to keep running.  …

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AIER: De-dollarization Has Begun…

Guest Post by Peter C. Earle at the American Institute for Economic Research:   Last week, China and Brazil reached an agreement to settle trades in one anothers’ currencies. Over the past 15 years, China has replaced the United States as the main trading partner of resource-rich Brazil, and as such that shift may have been …

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Jordan Roy-Byrne: It is Risky to be Out of Gold Market Now

Guest Post by Jordan Roy-Byrne at thedailygold.com: Gold is on the cusp of a major breakout from its super-bullish cup and handle pattern. The measured upside target is $3000/oz, and the log target is roughly $4000/oz. These targets may sound extreme, but breakouts from multi-decade bases are rare but very bullish. Furthermore, a breakout from …

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Is the Collapse of the Petrodollar Imminent? Here’s How It Could Impact the World’s Reserve Currency

Guest Post by Nick Giamburno at International Man:   It’s been rightly said that “he who holds the gold makes the rules.” After World War 2, the US had the largest gold reserves in the world, by far. Along with winning the war, this let the US reconstruct the global monetary system around the dollar. …

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Here’s How We’ll Have Labor Shortages and High Unemployment at the Same Time

Guest Post by Charles Hugh Smith at Oftwominds.com: This is how we’ll end up with severe shortages of truly skilled labor and high unemployment of those who lack the necessary skills. The labor force and the job market are referred to as if they were monolithic structures. But they’re not monolithic, they are complex aggregates of very different cohorts …

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Five Reasons Gold and Silver Could Rally Soon

Guest Post by Richard Mills from Aheadoftheherd.com:   Earlier, we listed the various reasons why the US dollar is headed lower. But this doesn’t mean all safe-haven assets are in for a reality check. In fact, this might be an opportune time to invest in precious metals, in particular gold and silver, given the current state of …

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Could the Commercial Real Estate Market Be the Next Thing to Break?

Guest Post by Michael Maharrey at SchiffGold.com: Could the commercial real estate market be the next thing to break in this bubble economy? The rampant money creation and zero percent interest rates during the COVID pandemic on top of three rounds of quantitative easing and more than a decade of artificially low interest rates in the wake …

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THE BIG STOCK MARKET CRASH IS A MEME

by Chris Black I don’t know how to tell you that and how many time we will have to tell you that (stop reading fear-porn-selling retards like Snyder) but the stock market will never “crash” ever again. At most it will drop 10%, they will halt trading, printers will go brrr overnight and it will …

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JPM in trouble? 55 Trillion in garbage derivatives

55 Trillion in garbage derivatives + 16:1 naked short in Silver and 4:1 naked short Gold + 2-Week Jim Cramer Effect = DOOM! JP Morgan is a fortress — Jim Cramer (@jimcramer) March 10, 2023 Closer to 50 Trillion at the end of last year. https://www.usbanklocations.com/bank-rank/derivatives.html   AC

RUMOR that Bank of America will be buyer of Signature Bank… There’s a problem though…

via NYPOST: Bill Ackman in a tweet on Friday said Bank of America is going to acquire Signature Bank on Monday, without citing the source of the information. “I am hearing that @BankofAmerica is going to buy Signature Bank on Monday. Unless and until we can protect uninsured deposits, the cost of capital is going to rise for smaller banks …

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Bank Run Underway? Updated commercial bank deposit data shows $54.1738 Billion in deposits removed. Last week saw it going from $17.64t to $17.61t (-$30b)–$80+ Billion removed from deposits in the last two weeks!

by Dismal-Jellyfish It gets even more interesting! 1 year ago: 3/16: 18,073.5395 Billion. High was hit 4/13/2022: 18,130.6814 Billion. Over half a trillion in deposits pulled in the last year! Board of Governors of the Federal Reserve System (US), Deposits, All Commercial Banks [DPSACBW027SBOG], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DPSACBW027SBOG, March …

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I feel like we’re watching The Big Short in real time…

by recklessSPY The Fed was on track to keep raising rates to stop inflation. Unemployment still hot and retail still spending. No reason to abate – maintain rates. Some banks f’d up and didn’t hedge their interest rate risk. Runs on regional banks showed how fragile the system is. Fed comes in to plug what …

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High Probability Recession Hits U.S. in Late 2023

  Top Chart: Over the past +50 years, the inversions of the 50 day SMA of the 10 year treasury rates minus the 50 day SMA of the 3 month treasury rates have all preceded the start of a U.S. recession (there have been no false indicators or exceptions to this rule). The 8 recessions …

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Why printer is back on… 2023 is worse than 2008 in terms of deposits held by failed banks.

Total deposits across all banks are much higher now, $17.6t now vs $6.7t in 2008. https://wolfstreet.com/2023/03/16/fed-loaned-160-billion-to-banks-and-142-billion-to-fdic-but-qt-related-roll-off-continued/ In 2008 banks had trouble because they were holding lots of mortgages and MBSs and their value went down a lot, losing them ton of money, forcing liquidation. In 2022, old TBills value went down a lot due to …

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Two former traders get jail for ‘spoofing’ precious metals futures

via justice.gov: Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, March 9, 2023 Former Wall Street Precious Metal Traders Sentenced for Wire Fraud Two former Wall Street traders were each sentenced today to one year and one day in prison for engaging in a multi-year fraud scheme to manipulate U.S. commodities markets …

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