Archive for September 30, 2016

Clinton Names Mother of the Migrant Crisis Merkel As Favourite World Leader

September 30, 2016

Clinton Names Mother of the Migrant Crisis Merkel As Favourite World Leader, BreitbartOliver JJ Lane, September 30, 2016

WASHINGTON - JUNE 7: (L-R) German Chancellor Angela Merkel, Secretary of State Hillary Rodham Clinton and Vice President Joseph R. Biden toast each other during a luncheon at the US State Department June 7, 2011 in Washington, DC. Secretary of State Hillary Rodham Clinton and Vice President Joseph R. Biden hosted German Chancellor Angela Merkel for a luncheon during her visit to Washington before tonight's State Dinner. (Photo by Brendan Smialowski/Getty Images)

WASHINGTON – JUNE 7: (L-R) German Chancellor Angela Merkel, Secretary of State Hillary Rodham Clinton and Vice President Joseph R. Biden toast each other during a luncheon at the US State Department June 7, 2011 in Washington, DC. (Photo by Brendan Smialowski/Getty Images)

U.S. Presidential candidate Hillary Clinton has named German Chancellor Angela Merkel as her favourite world leader, choosing specifically to praise her record on the migrant crisis — despite her policies on opening Europe’s borders now providing a source of immense regret for her party and Germany.

The comments were made during a question and answer session on board Mrs. Clinton’s campaign aeroplane in Chicago yesterday, when a member of the press asked what the presidential candidate’s favourite world leader is. Initially leaving her answer quite open, remarking: “Look, I like a lot of the world leaders”, Mrs. Clinton then settled on Germany’s imperiled Chancellor Angela Merkel.

She told members of the press: “One of my favorites is Angela Merkel because I think she’s been an extraordinary, strong leader during difficult times in Europe, which has obvious implications for the rest of the world and, most particularly, our country”, reports Politico.

Turning episodes in Merkel’s career which are among the most damaging to her reputation into positives, the would-be president continued: “Her leadership and steadiness on the Euro crisis and her bravery in the face of the refugee crisis is something that I am impressed by.

“I’ve known her for a long time, she and I have known each other back to the 1990s, I’ve spent a lot of time with her. And I hope I’ll have the opportunity to work with her in the future.”

Clinton’s specific highlighting of Merkel’s handling of the migrant crisis — a major political and social upheaval across Europe for which she can claim more responsibility for than perhaps any other world leader — may cause concern, given Clinton’s own position on mass migration.

https://www.youtube.com/watch?v=WRI_ob90nWs

A promise to welcome Syrian refugees to the United States made headlines earlier this year when she vowed to increase the number of Syrian migrants admitted by 550 per cent. The propensity for Mrs. Clinton to go big on immigration to the United States and her similarities to Angela Merkel were noted by Breitbart London editor in chief Raheem Kassam in January when he told radio host Sean Hannity: “[Merkel] brought in 1.5 million – [Hillary would] take 20 million in heart beat.

“This is what you need to be concerned about… If Germany seems like a long way away, it’s really not. If it’s happening in Western Europe today, it’s happening in America tomorrow.”

Considered the most powerful woman in Europe and Time person of the year, Angela Merkel enjoyed an unassailable position in German politics, presiding over a grand coalition and maintaining some of Europe’s strongest poll ratings for a national leader. Yet the migrant crisis has significantly damaged her standing, with Merkel’s centre-right Christian Democratic Party slipping in the polls and the insurgent, anti-mass migration Alternative For Germany surging in recent elections.

The migrant crisis has had a knock-on effect on broader European politics, with concern about mass migration helping to push the United Kingdom out of the European Union in this year’s referendum, and previous European project stalwarts like Hungary and Poland to the point of open rebellion against Brussels in order to prevent the forced relocation of so-called refugees to their nations.

Responding to the same question yesterday, Republican Presidential candidate Donald Trump also selected Angela Merkel — despite having regularly bashed her over the course of his campaign. Praising her skill as a world leader, he qualified his remarks by criticising her over the migrant crisis, saying he was “very disappointed” in her performance.

Mr. Trump called Merkel’s decision to welcome millions of migrants to the European Union “a very tragic mistake”.

George Soros network pushed “Islamophobia” propaganda after San Bernardino jihad massacre

September 30, 2016

George Soros network pushed “Islamophobia” propaganda after San Bernardino jihad massacre, Jihad Watch

“ReThink Media, funded in part through NSHR grantee the Security and Rights Collaborative, distributed a set of talking points to organizations working to combat Islamophobia and arranging a series of conference calls to discuss messaging and crisis communications tactics.”

For years I have wondered why every single mainstream media reporter I have ever encountered was completely in the tank for the “Islamophobia” myth, and wholly unconcerned about jihad terrorism. Now we know why: they were bought and paid for. These revelations should bring the whole elite media superstructure tumbling down. It won’t, but every new push brings it closer to collapse.

soros-1

“Hacked Memos: George Soros Network Hyped ‘Islamophobia’ After Muslim Terror Attacks,” by Aaron Klein, Breitbart, September 28, 2016:

NEW YORK – In the wake of Islamic terrorist attacks in the U.S. and abroad, grantees of George Soros’s Open Society Foundations mobilized to counter anti-refugee and anti-Muslim immigration sentiment while using the attacks to push gun control and advocate against the surveillance of Muslims in major U.S. cities such as New York.

Hacked Foundations memos reviewed by Breitbart Jerusalem betray the symbiotic relationship between Soros’ grantees and prominent politicians, including Attorney General Loretta Lynch, in working to push these agendas.

One December 3, 2015 document, titled “Aftermath of ISIS attacks,” outlined a network of grantees that immediately sprung to action pushing specific policy agendas immediately after the December 2, 2015 terrorist attack in San Bernardino, California.

“Anticipating a backlash against Muslims, advocates swung into high gear,” the memo relates.

The grantee actions included attacks on those who spoke against immigration from Islamic countries, a push for gun control, and a speech by Attorney General Lynch at the annual dinner of a grantee, Muslim Advocates.

Here are some actions, as cited in the document:

*ReThink Media, funded in part through NSHR grantee the Security and Rights Collaborative, distributed a set of talking points to organizations working to combat Islamophobia and arranging a series of conference calls to discuss messaging and crisis communications tactics.

*Muslim Advocates was set to host a conversation with Attorney General Loretta Lynch on efforts to battle hate speech and anti-Muslim discrimination at its annual dinner in Washington DC.

* Advocates of greater gun control took to Twitter, chiding the parade of politicians who sent “thoughts and prayers” without taking concrete steps to improve public safety. The Center for American Progress convened calls on mass gun violence—one of a number of efforts to follow through on President Obama’s exhortation to revive efforts to enact new controls, such as universal background checks or a ban on assault rifles.

* The National Security Network released a new policy report entitled Mainstreaming Hate: The Far-Right Fringe Origins of Islamophobic and Anti-Refugee Politics in their handling of the Syrian refugee resettlement.

* The Refugee Council USA and some of its members issued calls to action to safeguard the Syrian refugee resettlement program.

After the Lynch event, a second Foundations’ memo boasted, “Appearing at the annual dinner hosted by grantee Muslim Advocates, Attorney General Loretta Lynch vowed that her department would vigorously investigate claims of hate speech that could lead to anti-Muslim violence.”

The first document relates a specific rapid response deployment of Foundations grantees to combat calls for restrictions on the visa waiver program after it was made public that Tashfeen Malik, one of the San Bernardino attackers, passed three background checks by U.S. immigration officials and was granted a K-1 visa to immigrate from Pakistan as the fiance of attacker Syed Rizwan Farook.

The document reveals:

Following the San Bernardino shootings in December by a U.S. citizen and his Pakistani spouse, there were additional proposals to limit the immigration of foreign nationals from specific Muslim countries, including restrictions on the visa waiver program.

US Programs’ Reserve Fund request, already in pipeline since the Syrian refugee crisis erupted last summer, received tentative approval. This request, which includes both c3 and c4 components, will provide communications capacity and advocacy support to refugee groups. It will also bolster immigrant rights groups’ ability to respond to anti-Muslim and anti-refugee rhetoric, which has been prominent in the race for the Republican 2016 presidential nomination.

The issue of refugee resettlement is central to the Open Society Foundations’ domestic aims. As recently reported by Breitbart News, hacked Soros documents state that the billionaire and his foundation helped to successfully press the Obama administration into increasing to 100,000 the total number of refugees taken in by the U.S. annually. The documents reveal that the billionaire personally sent President Obama a letter on the issue of accepting refugees.

Meanwhile, another document, titled, “ISIS Attacks Aftermath” and dated November 17, 2015, lamented that “Tuesday brought a more concerted effort to push back against efforts, fueled by key leaders in Congress and governors in over half the states, to bar Syrian refugees from resettlement in whole swaths of the U.S.”

According to that memo, among the prescriptions from grantees was:

Cities United for Immigration Action, a coalition of nearly 100 mayors, municipalities and counties organized by New York City’s Bill de Blasio, sought to counter the wave of governors opposed to allowing in Syrian refugees with a message of welcome and inclusion. “We should not close our borders to any group of people fleeing the atrocities and horrors of terrorism,” said Mayor de Blasio.

Yet another document listing grantee response to Islamic State attacks, dated January 7, 2016, addressed grantee opposition activism to the domestic surveillance of Muslims. The actions, the document states, included a lawsuit “contesting the NYPD’s surveillance of Muslims in New Jersey, brought by grantees Muslim Advocates and the Center for Constitutional Rights.”

The Obama administration is pushing Iraq into further chaos

September 30, 2016

The Obama administration is pushing Iraq into further chaos, Washington Post, Editorial Board, September 29, 2016

mideast_islamic_state_analysis-6073a-1671A member of Iraqi counterterrorism forces stands guard near Islamic State group militant graffiti in Fallujah, Iraq, in June. (Hadi Mizban/Associated Press)

Though the absence of such political solutions facilitated the rise of the Islamic State, the Obama administration is not pushing for them. It is not using its considerable leverage — U.S. air support will be vital to liberating Mosul — to insist on better political preparations or the exclusion of Shiite militias. Instead, eager for the operation to begin before President Obama leaves office, it has been encouraging Mr. Abadi to speed up the Mosul offensive, while leaving the Day After problem to the Iraqis. That is a highly risky course.

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AN ASSAULT by U.S.-backed Iraqi forces on Mosul, the largest stronghold of the Islamic State, is expected within weeks — far sooner than seemed likely a few months ago. Unfortunately, the acceleration is not good news. The government of Iraqi Prime Minister Haider al-Abadi is rushing the operation forward even though it lacks a strategy to secure and govern the multiethnic city of roughly 1 million people once the terrorists are driven out. It is recruiting sectarian militia forces that have a record of abusing civilians and seizing territory for themselves. Plans for protecting refugees, who may number in the hundreds of thousands, are sketchy.

In short, the Mosul offensive is setting the stage for a potentially catastrophic Day After problem. Though the United States has painfully experienced what such poor preparation can lead to, in Baghdad in 2003 and Libya a decade later, it is pushing the Abadi government to move still faster.

Military experts are more concerned about the aftermath than the fight itself. Brig. Gen. William F. Mullen, who was deputy commander for U.S. operations in Iraq until June, predicted last week that Islamic State defenses in Mosul could collapse quickly. “And then what?” he asked at a forum at the Washington Institute for Near East Policy. The Iraqi government’s plan, he said, amounts to “chips will fall and we’ll sort it out when we get to that.”

“That’s not a good plan,” Mr. Mullen said. “This is going to be ugly.”

It’s not hard to foresee where the ugliness will come from. Though the Mosul attack is expected to be led by U.S.-trained Iraqi counterterrorism units, Mr. Abadi has said Shiite militia forces also will participate. Iraqi Kurdish units may also move in from the north. Controlled by Iran rather than the Baghdad government, several of the Shiite militias were accused of atrocities during and after operations in the Sunni cities of Ramadi and Fallujah. There is ample reason to fear similar abuses against Sunnis in Mosul.

Once the Islamic State is vanquished, the various forces may turn on one another. Kurdish and Shiite fighters already have sparred in nearby Diyala province. Turkey has threatened to intervene on behalf of ethnic Turks in the city. Though a Sunni police force is being trained, it is a fraction of the size needed to prevent human rights abuses and factional fighting.

Plans for governance are equally threadbare. Iraqi leaders reportedly want to restore the former provincial governor and council, but that could be contested by another former governor with his own Sunni force. More important, the Baghdad government has taken no serious steps to resolve long-standing disputes with Sunni and Kurdish leaders over territory, revenue and the delegation of powers to local governments.

Though the absence of such political solutions facilitated the rise of the Islamic State, the Obama administration is not pushing for them. It is not using its considerable leverage — U.S. air support will be vital to liberating Mosul — to insist on better political preparations or the exclusion of Shiite militias. Instead, eager for the operation to begin before President Obama leaves office, it has been encouraging Mr. Abadi to speed up the Mosul offensive, while leaving the Day After problem to the Iraqis. That is a highly risky course.

LIVE: Shimon Peres’ funeral to be held at Mount Herzl in Jerusalem – YouTube

September 30, 2016

The Run Begins: Deutsche Bank Hedge Fund Clients Withdraw Excess Cash

September 30, 2016

The Run Begins: Deutsche Bank Hedge Fund Clients Withdraw Excess Cash

Source: The Run Begins: Deutsche Bank Hedge Fund Clients Withdraw Excess Cash | Zero Hedge

Deutsche Bank concerns just went to ’11’ as Bloomberg reports a number of funds that clear derivatives trades with Deutsche Bank AG have withdrawn some excess cash and positions held at the lender, a sign of counterparties’ mounting concerns about doing business with Europe’s largest investment bank.

While the vast majority of Deutsche Bank’s more than 200 derivatives-clearing clients have made no changes, some funds that use the bank’s prime brokerage service have moved part of their listed derivatives holdings to other firms this week, according to an internal bank document seen by Bloomberg News.

Millennium Partners, Capula Investment Management and Rokos Capital Management are among about 10 hedge funds that have cut their exposure, said a person familiar with the situation who declined to be identified talking about confidential client matters.

 

The hedge funds use Deutsche Bank to clear their listed derivatives transactions because they are not members of clearinghouses. Millennium, Capula and Rokos declined to comment when contacted by phone or e-mail.

Which explains why short-dated CDS is soaring.

 

 

 

“Our trading clients are amongst the world’s most sophisticated investors,” Michael Golden, a spokesman for Deutsche Bank, said in an e-mailed statement.

 

“We are confident that the vast majority of them have a full understanding of our stable financial position, the current macroeconomic environment, the litigation process in the U.S. and the progress we are making with our strategy.”

Clients review their exposure to counterparties to avoid situations like the 2008 collapse of Lehman Brothers Holdings Inc. and MF Global’s 2011 bankruptcy when hedge funds had billions of dollars of assets frozen until the resolution of lengthy legal proceedings.

As expected, Deutsche Bank stock in NY is sliding.

 

If the most sophisticated professionals in the world are withdrawing cash, why are German depositors leaving their life savings at risk… ahead of a long weekend in Germany (Monday is a bank holiday).

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And for those believing that there is no contagion and this is all ring-fenced…

 

And US banks are sliding…

 

As a reminder, if the liquidity run forces DB to start unwinding or being forced to novate derivatives, it could get ugly.

 

Those who have cash parked at Deutsche Bank, and at last check there was about €566 billion, they may want to consider moving it for the time being to a safer bank.

 

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Earlier this morning, we reported that Europe is experiencing a sudden and acute dollar shortage, which we attributed to Deutsche Bank. It now appears this was accurate. Since Deutsche’s recent highs, the short-end of the EUR-USD basis swap curve has collapsed:

Simplifying – this chart measures the degree of USD shortage
(willingness to spend money just to get USD now) across time – the lower
the level, the more desperate for USDs.

And no, it’s not a quarter-end issue:

 

Still not sure… Then explain why European banks just increased
their demand for USDs from The ECB’s 7-day lending facility by over
2000%…

As @Landonthomasjr notes, since 2009: DB shareholders put up 13.5 billion euros in equity. DB has paid 19.3 billion euro in bonuses. Perhaps they should have saved some of that cash eh?

Simply put – trust in the European Banking system is faltering, counterparty risk hedging is accelerating:

And liquidity concerns are exploding, ahead of Germany’s bank holiday on Monday.

Syrians will soon receive EU money deposited into ‘credit card’

September 30, 2016

It is a prominent part of the migration agreement between the EU and Turkey: European money for Syrian refugees that they get paid monthly on an electronic debit card.

From October 1 this should enter into force, but what should we imagine ?

By Tom Reijner

27 sep 2016

( translation from original Dutch article by JK  )

http://www.elsevier.nl/buitenland/achtergrond/2016/09/zo-krijgen-syriers-straks-eu-geld-gestort-op-creditcard-368393/?utm_medium=website&utm_source=nieuwskoerier.nl

The utility is officially launched Monday by the Cypriot Commissioner Christos Stylianides (Humanitarian Aid).
‘Biggest EU aid project ever’

Not without any triumphalism: “Today we launch the largest and most comprehensive humanitarian project that the EU has ever supported. It will ensure that 1 million Syrian refugees have a kind of basic income, “said the Commissioner at a press conference. The project, according to him the “ultimate proof” how the EU is involved in solving the migration and refugee crisis. But what about this aid money system exactly work?

The debit cards – similar to a type of credit or prepaidpas – provided by the so-called Emergency Social Safety Net (ESSN). This is a special program of the EU for refugees and set up in collaboration with the World Food Programme of the United Nations, the Turkish authorities and the Turkish Red Crescent (the Islamic equivalent of the Red Cross).

In the words of the Commissioner “a system that combines the Turkish welfare of a humanitarian response.” The ESSN project has been allocated EUR 348 million, to be paid from the big pot of money (3 billion euros), which Ankara had pledged to help the refugees in their own country. Meanwhile, paid 652 million – though Erdogan complained bitterly that it is all not enough, and where the rest of the money actually remains.

It sounds like a fraud sensitive system

But not everyone will benefit from EU funds. Only the ‘most vulnerable’ among the more than 3 million Syrians in Turkey may make purchases “so they can feed their families.” Brussels hopes that therefore the local economy is supported, as they embark on fruit and vegetable markets. These people, who are outside the refugee camps, may decide that they spend the money. So they can keep “their dignity, and they are not condemned to begging on the streets.

It sounds like a fraud sensitive system. How do the EU officials assured that the money is well spent, and not in bags reaches of shady characters, whether or not within the Turkish government itself?

Namely, there is also cooperation with the Turkish Ministry of Family and Social Policy. The European Commission ensures strict control: “We will ensure that every euro is spent properly,” says Stylianides.