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Bill’s Commentary:
”So much for draining the swamp? How do you make the CEO of the largest bank in the US that has already pled guilty to 5 felonies the head of the US Treasury with a straight face? This is beginning to sound like 2016-2020, left right, left right left where we march in beat to the Uniparty. Sorry for my cynicism but this smells so bad on so many levels…!”
Donald Trump is considering Jamie Dimon for Treasury Secretary after a ‘lovefest’ CEO meeting
Donald Trump is weighing tapping JPMorgan Chase chief Jamie Dimon as his next Treasury Secretary.
“I have a lot of respect for Jamie Dimon,” Trump said.
Federal Reserve Chair Jerome Powell, whom Trump threatened to fire during his first term, also seems to have some job security. If elected, Trump said he would allow Powell to complete his four-year term as chair, which is set to end in May 2026.
Bill’s Commentary:
”This is exactly as it was for 911, massive put option buying on the airlines where they never followed the money. All they need to do is trace who bought outsized amounts of puts on DJT over the last couple weeks to discern who was in on the assassination plot. Very simple indeed!”
Bill’s Commentary:
”Isn’t this the 3rd or 4th (or 5th) time he has had Covid? Either the vaccines don’t work, or he is faking it to stay away from cameras and the limelight? Take your pick!”
Biden tests positive for COVID, cancels speaking engagement on Strip
President Joe Biden pulled out of a speech before the nation’s largest Latino organization on Wednesday after he tested positive for COVID-19.
The positive test was initially announced by UnidosUS President and CEO Janet Murguia who promoted audible gasps as said she had bad news.
“We are disappointed to not hear from him here today,” Murguia said to the crowd gathered at MGM Grand on the Las Vegas Strip. “We appreciate very much his wanting to have been here.”
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Bill’s Commentary:
”We are now way past “gaslighting” when the head asshat at Secret Service says they did not station anyone on the shooter’s roof because it was “sloped” and too dangerous. This is a joke as the slope was nearly a flat pitch. The reality is this, if agents needed to scale a cliff and “hang” in order to protect their asset, it would be done. This woman who directs the Secret Service should be fired and ALL benefits/pension revoked. These people are far more stupid than what they believe those they are lying to.”
Secret Service boss blames ‘sloped roof’ for not putting sniper team on building used by would-be Trump assassin
Embattled Secret Service Director Kimberly Cheatle says she has no plans to resign, even after the stunning revelation that the agency decided not to guard the roof from which Thomas Crooks opened fire on former President Donald Trump because it was too slanted.
“That building in particular has a sloped roof at its highest point. And so, you know, there’s a safety factor that would be considered there that we wouldn’t want to put somebody up on a sloped roof,” she told ABC News in a startling admission.
Bill’s Commentary:
”Some frugal Erik for you”
The latest from Erik –
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Bill’s Commentary:
“With as messed up as the world we live in is today, wouldn’t it be good to be able to be as joyous as this pup?”
Bill’s Commentary:
“He might do better hiring some bouncers on his own rather than be protected by “wait until the shooter fires before you take him out”? Our tax dollars are wasted in so many different ways; protecting presidential candidates, no matter what party they represent …is NOT a waste. It may not look like it yet, but our world did change drastically Saturday afternoon. Pooh pooh this now, you will soon plainly see this…”
Biden orders Secret Service to protect RFK Jr. after attempt on Trump’s life
WASHINGTON — President Joe Biden has directed the U.S. Secret Service to protect independent presidential candidate Robert F. Kennedy Jr., after the attempted assassination of Donald Trump, the Homeland Security secretary said Monday.
Kennedy is a longshot to win Electoral College votes, much less the presidency. But his campaign events have drawn large crowds of supporters and people interested in his message. His campaign has been urging the president to provide him with Secret Service protection for months, and has sent multiple requests after various incidents.
Bill’s Commentary:
“Crooks was in an ad for Blackrock …you cannot make this shit up!”
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Bill’s Commentary:
“”Going around” the dollar is only a slightly slower way of replacing it. Dollar settlement for global trade will diminish until obscurity. Do you understand what happens to your standard of living when the beloved dollar is no longer acceptable in many parts of the world? You will not have to wait much longer to find out …”
Is the USD Really Too Big to Fail?
Between politics (driven by self rather than public servants), markets (driven by debt rather than profits) and currencies (diluted by over-creation rather than chaperoned by a real asset), it is fair to say we live in not interesting but surreal times.
But amidst the surreal, the dollar, as many believe, is our rock, our immortal albeit often unloved constant.
The USD: Too Big to Fail?
Whatever one thinks of the dollar, we can’t deny its centrifugal force, exorbitant privilege and entirely unequaled market power (from the current SWIFT and Eurodollar systems to the derivative and petrodollar markets).
And even as broken, debased, inflated (and inflation-exporting) as the USD is, its place as a world reserve currency (with 80%+ of global FX transactions) is firm.
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Bill’s Commentary:
“Now they have made Donald Trump a martyr and divided the nation even further. Tolerance from the right may no longer be possible. In my opinion, the consequences of this cannot yet be counted, but whatever you believe them to be, please multiply them many fold … Trump will no longer need to campaign for a single minute between now and the election The only way he does not become the 47th president is if some sort of false flag is used to cancel it altogether.”
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Bill’s Commentary:
“Some philosophical Erik for you”
The latest from Erik –
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Bill’s Commentary:
“This is Paris?”
Bill’s Commentary:
“California leading the breakdown of society …”
Sacramento City Attorney Threatens Target it Will Face Fines for Reporting Retail Theft ‘Nuisance Calls’
The Sacramento City Attorney’s Office has issued a warning to gigantic national retailer Target that it will face fines for reporting so many retail theft incidences.
We have officially entered George Orwell’s 1984.
Think about that – Target reports retail theft to the city of Sacramento hoping for any enforcement, and the city’s attorney gets mad that there are so many “nuisance” calls.
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Bill’s Commentary:
“Oops, is this systemic?”
The Fund Created to Unwind a Failing Megabank Has a Problem: There’s No Money in It
Last week the American Banker published an opinion article by Arthur E. Wilmarth, Jr., the Professor Emeritus of Law at George Washington University. Wilmarth is the man who wrote the seminal book on the continuing threat to financial stability posed by U.S. megabanks – the same ones that blew up Wall Street and the U.S. economy in 2008.
The title of Wilmarth’s article (paywall) is: “The FDIC’s resolution plan for failed megabanks is an empty promise.” The thrust of the article is this: the Dodd-Frank Act was passed by Congress and signed into law in 2010 – 14 years ago. One of its primary goals was to prevent taxpayers from having to rescue megabanks, as occurred in 2008.
Read more here…https://wallstreetonparade.com/2024/07/the-fund-created-to-unwind-a-failing-megabank-has-a-problem-theres-no-money-in-it/
Bill is interviewed by Finance and Precious Metals (Also posted under Interviews)
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Bill’s Commentary:
“The word to describe this can only be “fitting”! Sotomayor got to see exactly what results from “woke” government policy. She might not even make the connection as she was saved from disaster via government spending to protect her …but what about us normal schmucks?”
Sonia Sotomayor saved from danger: Supreme Court Justice’s bodyguard shoots gun-wielding suspect who tried to steal his car outside her DC home
A teenage suspect was shot by US Marshals on Friday after allegedly attempting to carjack Supreme Court Justice Sonia Sotomayor’s federal bodyguards outside her home, DailyMail.com can exclusively reveal.
Metropolitan Police Department confirmed it was investigating a shooting that took place in the Northwest Washington, DC. where two marshals were on-duty working ‘a protective detail’ in the early hours of July 5.
A Deputy US Marshal was sitting in his car outside the top judge’s condominium at 1:15am when 18-year-old Kentrell Flowers approached, pointed a handgun at him, and tried to steal his vehicle, according to a police report obtained by DailyMail.com.
Bill’s Commentary:
“Grizzly checks in with some wisdom for us all!”
I was driving up the creek today and was daydreaming about the stage hold ups that this part of WY is well known for. The gold miners of Deadwood had to deliver their earnings to the bank in Cheyenne down this valley road.
> I was thinking of the lone robbers, small gangs or larger collaborations that would qualify for RICO prosecution nowadays (selectively enforced albeit) that would force the stage to stop, kill the teamsters and make off with the gold.
> These days we could very easily be looking at the same threats the old stage drivers faced. As this Ponzi financial scheme continues to unravel before our eyes, there will come a day, sooner or later, where men intent on taking the gains earned from other’s hard work will be looking at us and our earnings. I try to keep these scribblings confined to preparedness subjects, but I think this qualifies.
> As stated, sooner or later collapse is coming and we who are prepared will undoubtedly be forced to protect our preparations and those in our care.
> So – in terms of preparedness, take time as soon as possible to review your security. Look at the avenues of approach. Look at this through the eyes of defending your castle or your fort. Where can you see well (OP – Observation Post in military jargon). Can you see the threat coming from a distance to bide more time? Can you communicate to your castle that a threat is coming? How will you do this? Can you then slow down the the threat without direct action? Avoid DA as much as possible at this stage until the threat is in a well prepared and pre-planned kill zone. Heavy fences, ditches, rubble?
> The goal here is to see the threat from as far a away as possible; communicate this threat, slow down and encumber the threat before the threat even knows they are had and funnel them to a vulnerable place without them realizing it.
> If these efforts don’t thwart their intentions, then be prepared to unleash hell on your threat. Violence of action, shock and awe – you pick the term but whatever term, have the firepower to repel the threat. Neutralize the threat and discourage the surviving marauders to look elsewhere for someone else’s hardworking gains.
> Don’t waste time with this. God only knows how much time there is before things like this are upon us.
> Don’t be scared. Be prepared. Grizzly
Bill’s Commentary:
“The Saudis took the position they did …for the exact same reasons the “BRICS” were formed…!”
Saudis Threatened To Sell European Bonds If Russian Assets Were Confiscated
In a fascinating geopolitical development, Bloomberg reports that Saudi Arabia privately hinted earlier this year it would sell some (or all) of its European debt holdings if the G-7 confiscated Russia’s frozen assets.
As a reminder, we noted in May the European Union had approved a US-backed plan to use profits and interest generated from Russian assets to help arm Ukraine; however that was a sharp reversal from the previously proposed plan – one which was heavily promoted by Zelensky and Ukraine – to confiscate some $300 billion in Russian assets. Many were wondering what prompted the reversal.
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Bill’s Commentary:
“You do understand that NATO is toast?”
NATO Has to Change. Here’s How.
What would Ike say now?
Gen. Dwight Eisenhower, NATO’s first supreme allied commander Europe, felt strongly that his mission was to get Europeans “back on their military feet” — not for American troops to become the permanent bodyguard for Brussels and Berlin.
“If in 10 years, all American troops stationed in Europe for national defense purposes have not been returned to the United States,” he wrote of NATO in 1951, “then this whole project will have failed.”
Our pal Grizzly checks in –
“Bill, Check this out?
I’m claiming an uneducated pig farmer in Iowa is much more intelligent than the supposed big wigs of investment. Wonder if they ride a short bus to the closings of deals like this?”
Who Made or Lost What between Brookfield, Starwood, MetLife? An Office CRE Deal of the Low-Interest-Rate Era Gets Shredded in Foreclosure
We have been discussing here for a while how the massive losses in commercial real estate, particularly in the office sector, have been spread far and wide, spread over equity and debt, landlords and lenders. And those lenders are spread across several big investor classes globally, and they hold the majority of the debt, not banks, thankfully (in multifamily CRE, US government entities hold the majority of the debt). And those losses originated from the crazy deal-making, reckless lending, and ridiculous valuations during the era of ultra-low interest rates. So this here is a deal that went kaputt where the debt was held by a life insurer.
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