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Slash Oil Output Or Else! Senate Bill Would Remove US Troops From Saudi Arabia In 30 Days

Slash Oil Output Or Else! Senate Bill Would Remove US Troops From Saudi Arabia In 30 Days

A new bill has been introduced in the Senate which if passed would punish Saudi Arabia over failure to cut oil production by removing all US troops from the kingdom within 30 days

Sen. Bill Cassidy (R-LA) introduced it after Louisiana and other states have been impacted by the ongoing OPEC+ crisis and price war between Russia and Saudi Arabia. As of Friday OPEC+ appears to be closing in on a deal which would see a production cut of 10 million barrels a day, which S&P Global Platts still warned “isn’t enough to plug the 15- to 20-million b/d near-term imbalance in the marketplace and avoid tank tops in May.”

Sen. Cassidy’s bill would also impose tariffs on all Saudi oil imports within ten days of enactment, also aiming to ensure prices would not dip to below $40 a barrel.

American forces arrive at Prince Sultan Air Base in Saudi Arabia in June 2019, via US Air Force.

“The extra oil from Saudi Arabia, the world’s largest oil exporter, has made it impossible for energy companies in the United States, the world’s top oil and gas producer, to compete, Cassidy said,” as cited in Reuters.

The Republican senator noted of the long-term close US-Saudi partnership: “Withdrawing troops placed to protect others recognizes that friendship and support is a two-way street.”

“Our nation’s economy, national security and the economic welfare of families across Louisiana is threatened by oil being dumped on the world market at below-production costs. The US spends billions protecting other oil producing countries and their ability to safely transport oil around the world. Now is the time to protect ourselves. Tariffs will restore fair pricing,” said Cassidy

The bill would also ensure defense funds cannot go to maintaining American troops on Saudi soil. 

…click on the above link to read the rest of the article…

Imagine If Saudi Arabia Was Not A US Ally

Imagine If Saudi Arabia Was Not A US Ally

The US Senate has voted 56 to 41 to sorta-kinda eventually end America’s part in the Saudi-led war in Yemen, one step out of a great many that will need to happen in order to end the worst humanitarian crisis on the face of the earth.

The joint resolution still allows US drones to patrol Yemeni airspace and rain death from above in its “war on terror” against Al Qaeda, and it is unable to pass in the House this year due to an unbelievably sleazy rider that House Republicans attached to the unrelated Farm Bill. The resolution isn’t expected to change much in terms of actual US participation in the war besides some  intelligence and reconnaissance assistance to Saudi Arabia and the United Arab Emirates against the Houthi rebels, since the US has already ended its assistance in refueling Saudi jets on their bombing campaigns as of last month. Trump is expected to veto any Yemen resolutions, and the Senate resolution was not passed with a veto-proof supermajority.

Still, it’s a step. A step in the right direction, both toward congress imposing some checks and balances on the Executive Branch’s heretofore obscenely unchallenged war powers, and toward the US government moving into opposition to the brazen war crimes being inflicted upon the Yemeni people by America’s close ally Saudi Arabia. And I think that last bit is worth taking a moment to think about.

The Senate vote to end U.S. involvement in the War is a big step forward, and the House should do the same in early 2019. But to actually force an end the Saudi war, Congress must cut off the Saudi Air Force’s spare parts, without which it can’t fly..

…click on the above link to read the rest of the article…

Kenny Polcari: Fed Can’t Stop Raising & Dow Could Drop 1,000 on Dems Winning Senate

My friend Kenny Polcari joins me again to talk about:

1. The recent volatility in the markets

2. Why he thinks the Fed must continue to raise rates

3. Why he thinks Democrats taking the Senate could lead to 1,000 point drop in the Dow in one day

4. How he likes his vodka martinis

Kenny Polcari graduated from Boston University, School of Management in 1983 with a B.S. / B.A. degree: concentration finance.

He came to Wall Street as a summer intern on the New York Stock Exchange during the summers of ’80, ’81 & ’82 and upon graduation moved from Boston, Mass. to New York City where he began his career on the trading floor. He became a member of the New York Stock Exchange in August, 1985 and is currently a Managing Director at O’Neil Securities, Inc. and represents the interests of institutional asset managers that need to access global equity markets. Earlier in his career, Kenny served as managing director at Icap Corps, LLC, and prior to that was senior vice president, member New York Stock Exchange and division manager with Salomon Brothers directing their NYSE Division during the heady bull market of the 1990’s.

His 30 years of experience has taken him from the birth of the greatest bull market, to the crash of ’87, the roaring ’90’s, the .com implosion, decimalization, 9/11, Regulation NMS, the merger between the NYSE / ARCA, then NYSE/Euronext, automation, HFT, and fragmentation. He is an engaging public speaker and you can find him speaking at industry & investor conferences, as well as colleges, forums and major asset manager events. He is at ease speaking about NYSE history, rules & regulation, former & current market structure including internalization, HFT and fragmentation and how those changes have forever changed the face of the U.S. capital markets and what that means to the investor.

…click on the above link to read the rest of the article…


4 Pillars of Debt in Danger of Collapse

Last month I was in a series of high-level meetings with members of Congress and the Senate in Washington.

While there’s been major news about the Supreme Court, my discussions were on something that both sides of the aisle are coming to consensus over.

You see, issues that impact your own bottom line are way more about economics than they are about politics. On Capitol Hill, leaders know that. They also know that voters react to what impacts their money. That’s why, behind the scenes, I’ve been discussing issues focused on protecting the economy.

Behind closed doors, we’ve been working on how to shield the economy from Too Big to Fail banks and how the U.S. can better fund infrastructure projects. These are initiatives that all politicians should care about.

Underneath the surface of the economy is a financial system that is heavily influenced by the Federal Reserve. That’s why political figures and the media alike have all tried to understand what direction the system is headed.

Also last week I joined Fox Business at their headquarters to discuss the economy, the Fed and what they all mean for the markets. On camera, we discussed this week’s Federal Reserve meeting and the likely outcomes.

Off camera, we jumped into a similar discussion that those in DC have pressed me on. Charles Payne, the Fox host, asked me what I thought of new Fed chairman, Jerome Powell, in general. Payne knew that I view the entire central bank system as a massive artificial bank and market stimulant.

What I told him is that Powell actually has a good sense of balance in terms of what he does with rates, and the size of the Fed’s book. He understands the repercussion that moving rates too much, too quickly, or selling off the assets, could have on the global economy and the markets.

…click on the above link to read the rest of the article…

Trump and Washington’s Warmongers Sow Death and Destruction

Trump and Washington’s Warmongers Sow Death and Destruction

Trump and Washington’s Warmongers Sow Death and Destruction

The squalid charade in the US Senate over the nomination of a Supreme Court judge and the comic opera performance by President Donald Trump at the UN General Assembly are deeply embarrassing for many Americans — but far from all Americans, because substantial numbers support the flawed Court nominee and strongly endorse Trump’s arrogant and malevolent insults to so many nations. They relish confronting and menacing those who dare to disagree with them.

Trump’s threats against Venezuela were in line with similar intimidating remarks he made about North Korea at last year’s UN Assembly, but it’s unlikely we’ll see a similar reversal this time round. He also threatened Venezuela last year, and he’s maintained the offensive, in all meanings of the word. In 2017 he declared that President Nicolas Maduro’s government was strangling the country through “faithfully implemented” socialism and vowed to help the Venezuelan people “regain their freedom, recover their country and restore their democracy”. In New York on September 25 he said it would be easy for the Venezuelan military to launch a coup d’état and impose regime change, which was a direct threat to the country’s sovereignty. His encouragement of revolution followed his announcement to the Assembly that “I honour the right of every nation in this room to pursue its own customs, beliefs and traditions. The United States will not tell you how to live or work or worship. We only ask that you honour our sovereignty in return.”

But Trump is telling — ordering — many countries how to live and work, and has no respect whatever for customs or beliefs that do not fit with his confused and distorted view of how the nations of the world should conduct their affairs. He contradicted his statement about all nations having the right to do as they wish by calling on the UN to “resist socialism and the misery it brings to everyone.”

…click on the above link to read the rest of the article…

Government Are Just Going Broke

The events in the Senate concerning the nomination of  Brett Kavanaugh’s illustrates that career politicians are destroying our way of life because they are so intent on just beating the opposite party that nobody is paying attention to the real problems we are staring at straight in its eyes. We face a very dark future because there is nobody home in government. They are indeed like the old Pink Floyd song – Comfortably Numb! Is there anyone in there? Is anyone home?

In Canada, a report has come out and made it clear that the “wolf is truly at provinces’ doors”, which is warning that the Canadian provinces’ fiscal position, collectively, is not sustainable over the long-term. They will raise taxes further and desperately punish all of use for their mismanagement and failures. They have destroyed our future and they will NEVER prevent a crisis because they ignore everything that is common sense.

I have tried very hard over the years to address the issue and show them this is a disaster that a 4-year-old with a pocket calculator can forecast. There is NO WILL to change and the parties are at each other’s throats so there can never be any bipartisan cooperation to save our future. We just have to Crash & Burn. The political system is simply incapable of actually managing the economy with career politicians for they are more interested in defeating the opposition to retain their jobs. We come last on the list of considerations.

As interest rates continue to rise, we are facing the crisis of all time. The central banks must “normalize” interest rates for the entire pension system is going belly-up. This is pitting fiscal policy against central bank policy. Government around the global have enjoyed the lowest interest rates in 5,000 years. They never reformed but spent even more. These two policies are now going to confront each other going into 2021.

Google Admits Existence of Censored Chinese Search Engine Project; Dodges Questions at Senate Hearing

Google Admits Existence of Censored Chinese Search Engine Project; Dodges Questions at Senate Hearing

Within a Senate hearing on Wednesday – that was seemingly swept out of the media spotlight by the lead up to today’s Judiciary Committee’s hearing involving a Brett Kavanaugh accuser – Google’s chief privacy officer Keith Enright admitted the existence of Project Dragonfly, reportedly a censored search engine for China.

Image result for google

During the hearing which covered privacy, bias, and censorship – members of the Senate Commerce Committee pressed Enright on how Google’s policies protecting user data would square up with the till-then rumored sanctioned search engine for China.

Before Wednesday’s hearing, Google had refused to confirm or comment on the reports claiming it has begun working on a project called “Dragonfly,” but the Google chief told lawmakers on Wednesday that “there is a Project Dragonfly.”

Enright would maintain while being pressed on the censorship project by Senator Ted Cruz:

“I will say that my understanding is that we are not, in fact, close to launching a search product in China, and whether we would or could at some point in the future remains unclear … If we were, in fact, to finalize a plan to launch a search product in China, my team would be actively engaged.”

After admitting that “Dragonfly” project did exist, the privacy officer offered dodgy answering, saying that he is “not clear on the contours of what is in scope or out of the scope of that project.”

Senator Cruz then asked if he thought that the Chinese government censors what its citizens see, to which Enright responded:

“As the privacy representative of Google, I’m not sure that I have an informed opinion on that question.”

…click on the above link to read the rest of the article…

US Senator Chris Murphy Says That “The Survival of Our Democracy” Depends on MORE Censorship

US Senator Chris Murphy Says That “The Survival of Our Democracy” Depends on MORE Censorship

Welcome to the United States of Censorship.

Your tour guide today is Senator Chris Murphy, a Democrat from Connecticut, tweeted some pro-censorship nonsense the other day. In doing so, Murphy proved that (a) he doesn’t understand the First Amendment, (b) he wants the internet to be an echo chamber, and (c) he must have slept through high school civics class.

Murphy tweeted that “the survival of our democracy” was dependent upon even MORE censorship.

(Psst: NOT a democracy. I Googled it for you, Chris. How the heck did you get elected when you don’t even know this? I guess there isn’t a quiz you’ve gotta pass to be a Senator.)

Anyone north of a Hillary-Clinton-loving liberal knows that there’s war on our opinions, while the folks who control the media can say practically anything they want. (Like when CNN anchor Chris Cuomo defended Antifa and freaking compared them to WWII soldiers storming the beach at Normandy, even though he says he didn’t.)

Some background information on the wave of censorship

At the center of this brouhaha is Alex Jones’s InfoWars, an ultraconservative, conspiratorial media outlet who was recently deplatformed by anyone who matters in the media world.

While I’m personally not a fan of Jones or his website, I’m even less of a fan of censorship. Apple, Facebook, Spotify, and YouTube all removed Jones’s accounts within hours of one another, which is blatantly a colluded effort to silence his opinions. And whether you like Jones or not, this should scare the crap out of you if you don’t wish to live in an America that only allows one philosophy.

But it didn’t start with Infowars. The purge has been going on for quite some time.

…click on the above link to read the rest of the article…

Big Banks Were Meant to Gain From Bipartisan Deregulation Bill All Along, Senate Letter Reveals

UNITED STATES - MAY 8: Sen. David Perdue, R-Ga., speaks during a press conference about Congress' current work pace, government funding, and the confirmation backlog on Tuesday, May 8, 2018. (Photo By Bill Clark/CQ Roll Call) (CQ Roll Call via AP Images)
Photo: Bill Clark/CQ Roll Call/AP


DEMOCRATS WHO COLLABORATED on the bank deregulation lawpassed earlier this year have categorically insisted that it only benefits small community banks and credit unions.

Take Sean Patrick Maloney, a House Democrat who is simultaneously running for both re-election and New York attorney general — the so-called Sheriff of Wall Street position. He was asked recently on a local radio show about his yes vote.

“If you look at the African-American Credit Union Association and the African-American small bankers, they are the guys who benefited from easing some of the restrictions,” Maloney said, using lenders of color as a shield for his vote. Maloney maintained that the legislation “didn’t touch any of the important restrictions we put on the big banks.” It’s been his go-to refrain each time he’s been pressed on the Dodd-Frank rollback, echoing a chorus of lawmakers singing songs of sincere deregulatory innocence.

But a letter sent by seven Senate Republicans last week suggests that the law is trying to do precisely what its critics warned: provide regulatory relief for some of the largest banks in the country.

The letter, headlined by Senate Banking Committee member David Perdue, R-Ga., is a classic Washington document, “signed” by members of Congress but transparently prepared by lobbying groups looking to add congressional backing for their priorities. While the bill’s author, Senate Banking Committee Chair Mike Crapo, R-Idaho, isn’t on the letter, that’s likely because it would be messy to have the senator who promised Democrats in negotiations that big banks wouldn’t benefit from the legislation turn around and assist the lobbying efforts of those very institutions.

…click on the above link to read the rest of the article…

Giving Trump Carte Blanche for War

Giving Trump Carte Blanche for War

A little-noticed Senate bill would give Donald Trump blanket permission to launch wars in violation of the Constitution, says John Kiriakou.

Have you ever heard of Senate Joint Resolution 59 (S.J.Res. 59)? Neither had I. A friend of mine saw a blurb about it on an obscure national security blog and brought it to my attention. At first glance it didn’t seem to be any big deal. It’s inelegantly named the “Authorization for Use of Military Force (AUMF) of 2018.” It was introduced on April 16, 2018 by Senators Bob Corker (R-TN), the chairman of the Senate Foreign Relations Committee (SFRC), and Tim Kaine (D-VA). Officially, the bill would “Authorize the use of military force against the Taliban, al-Qaeda, the Islamic State in Iraq and Syria, and designated associated forces, and provide an updated, transparent, and sustainable statutory basis for counterterrorism operations.”

It’s hard to oppose a bill that would “keep Americans safe,” as Corker said in the SFRC hearing. But this bill is so bad, such an affront to our freedom, such an attack on our civil liberties, that we should be compelled to oppose it.

S.J.Res. 59 is bad for a number of reasons. First and most importantly, it would provide blanket permission for the president to launch a military attack of literally any size and intensity whenever he wants without specific congressional approval. That seems obviously unconstitutional to me, although I’m not a constitutional scholar. Still, the constitution says in Article I, Section 8 that only Congress shall have the authority to declare war, among other things military. It does not allow the president the ability to launch a war.

Congress alone has the power to declare war. Article 1, Section 8. (Click to enlarge view)

…click on the above link to read the rest of the article…

Senate Democrats Are Circulating Plans for Government Takeover of the Internet: Reason Roundup

Senate Democrats Are Circulating Plans for Government Takeover of the Internet: Reason Roundup

Plus: Testing telemedicine abortion and 3D printed guns.

Douglas Christian/ZUMA Press/Newscom

Douglas Christian/ZUMA Press/Newscom

All your base are belong to us. A leaked memo circulating among Senate Democrats contains a host of bonkers authoritarian proposals for regulating digital platforms, purportedly as a way to get tough on Russian bots and fake news. To save American trust in “our institutions, democracy, free press, and markets,” it suggests, we need unprecedented and undemocratic government intervention into online press and markets, including “comprehensive (GDPR-like) data protection legislation” of the sort enacted in the E.U.

Titled “Potential Policy Proposals for Regulation of Social Media and Technology Firms,” the draft policy paper—penned by Sen. Mark Warner and leaked by an unknown source to Axios—the paper starts out by noting that Russians have long spread disinformation, including when “the Soviets tried to spread ‘fake news’ denigrating Martin Luther King” (here he fails to mention that the Americans in charge at the time did the same). But NOW IT’S DIFFERENT, because technology.

“Today’s tools seem almost built for Russian disinformation techniques,” Warner opines. And the ones to come, he assures us, will be even worse.

Here’s how Warner is suggesting we deal:

Mandatory location verification. The paper suggests forcing social media platforms to authenticate and disclose the geographic origin of all user accounts or posts.

Mandatory identity verification: The paper suggests forcing social media and tech platforms to authenticate user identities and only allow “authentic” accounts (“inauthentic accounts not only pose threats to our democratic process…but undermine the integrity of digital markets”), with “failure to appropriately address inauthentic account activity” punishable as “a violation of both SEC disclosure rules and/or Section 5 of the [Federal Trade Commission] Act.”

…click on the above link to read the rest of the article…

Congress Weighs Indefinite Detention of Americans

Congress Weighs Indefinite Detention of Americans

Under the guise of exercising supervisory power over the president’s ability to use military force, Congress is considering writing Donald Trump a blank check to indefinitely detain U.S. citizens with no criminal charges. Alarmingly, this legislation could permit the president to lock up Americans who dissent against U.S. military policy.

The bill that risks conveying this power to the president is the broad new Authorization for Use of Military Force (AUMF), S.J.Res.59, that is pending in Congress. Senate Foreign Relations Committee chair Bob Corker (R-TN) and Democratic committee member Tim Kaine (VA) introduced the bipartisan bill on April 16, and it has four additional co-sponsors.

This proposed 2018 AUMF would replace the 2001 AUMF that Congress gave George W. Bush after the September 11 attacks. Although the 2001 AUMF authorized the president to use “all necessary and appropriate force” only against individuals and groups responsible for the 9/11 attacks, three presidents have relied on it to justify at least 37 military operations in 14 countries, many of them unrelated to 9/11.

But the 2018 AUMF would codify presidential power to make war whenever and wherever he chooses.

S.J.Res.59 allows the president “to use all necessary and appropriate force” against Iraq, Afghanistan, Syria, Yemen, Libya and Somalia, al-Qaeda, ISIS (also known as Daesh), the Taliban and their “associated forces” anywhere in the world, without limitation.

Kaine: Introduced bi-partisan bill. (Photo from US Department of Education)

However, the bill contains no definition of “co-belligerent.” A president may conceivably claim that a U.S. citizen who writes, speaks out or demonstrates against U.S. military action is a “co-belligerent” and lock him or her up indefinitely without charge.

…click on the above link to read the rest of the article…

Senate Passes Warrantless Spying Reauthorization Bill

Disobedient Media previously reported on the many issues that establishment press misrepresents or ignores. One of the issues discussed in that report included the overt hypocrisy displayed by allegedly anti-Trump Democrats who nonetheless voted in favor of increased warrantless spying powers.

That trend continued earlier today, when the Senate voted to pass the extremely controversial bill which would reauthorize FISA, and which many claim would result in increased warrantless spying powers for an already grotesquely powerful NSA.

Just Security wrote on the misrepresentation of the bill, relating that despite many lawmaker’s claim that the powers granted to the NSA would not target Americans, in reality, the law would permit exactly that. They also noted that the bill would hardly be used to target only terrorists or enemy combatants: “The NSA’s own slides on Section 702 describe it as collecting on topics such as “energy” and “political affairs.”

This author has also addressed many issues stemming from the monstrous power of the NSA in DecipherYou, an ongoing collaboration with Suzie Dawson. Dawson is a journalist, activist, and current leader of the Internet Party of New Zealand.

Establishment politicians from both sides of the aisle also prevented Rand Paul’s attempt to filibuster the legislation. Press reports also related: “Democrat Ron Wyden of Oregon tried to filibuster Tuesday night on the Senate floor during a debate over the government’s massive surveillance powers, but colleagues didn’t let them.”

The Senate has passed a reauthorization of Section 702 of the Foreign Intelligence Surveillance Act. Bill now goes to Trump’s desk. https://twitter.com/senategopfloor/status/954048573343195136 

The bill in question overcame another hurdle when it was passed by the Senate earlier today. CNN reported: “The Senate approved a six-year extension of the controversial Section 702 of the Foreign Intelligence Surveillance Act on Thursday. The vote was 65-34. The bill now heads to the White House for President Donald Trump’s signature.”

…click on the above link to read the rest of the article…

Senate Votes To Reauthorize NSA Spying Program

While most Congressional observers are focused on the battle to avert a weekend government shutdown (an outcome that’s looking increasingly likely), the Senate on Thursday quietly passed an extension of the NSA’s spying surveillance program, sending the bill to the president’s desk a week after the House voted to authorize the controversial plan.

Even President Trump voiced scepticism about reauthorizing the bill in a tweet earlier this year, where he claimed it had helped the Obama administration spy on the Trump campaign, although he infamously flip-flopped later.

As the Hill  pointed out, the vote comes after an (almost) tension-filled hour on the Senate floor earlier this week where opponents tried, but failed, to mount a filibuster to force additional debate on the legislation, with both sides spotted lobbying key holdouts. Opponents rallied against the bill ahead of Thursday’s vote, arguing the legislation is being rushed through.

“The American people deserve better than the legislation before us. …The American people deserve better than warrantless wiretapping,” said Sen. Martin Heinrich (D-N.M.).

He added that senators should “consider the gravity of the issues at hand and to oppose reauthorization until we can have a real opportunity for debate and reform.”

Critics of the controversial Section 702 of the FISA Act – the measure that was reauthorized by the Senate today and is expected to be signed into law despite Trump’s reservations – said it allows the FBI to spy on Americans without first obtaining a warrant. Though some surveillance experts have disputed this.

As the Wall Street Journal  explained, Section 702 underpins a wide range of electronic collection against foreign targets overseas and has been referred to by officials as critical to national security. The law was set to expire Friday unless Congress voted to reauthorize it.

…click on the above link to read the rest of the article…

Ban on Kaspersky Software: Hypocrisy of US Internet Agenda

Ban on Kaspersky Software: Hypocrisy of US Internet Agenda

Ban on Kaspersky Software: Hypocrisy of US Internet Agenda

On September 18, the US Senate voted to ban the use of products from the Moscow-based cyber security firm Kaspersky Lab by the federal government, citing national security risk. The vote was included as an amendment to an annual defense policy spending bill approved by the Senate on the same day. The measure pushed forward by New Hampshire Democrat Jeanne Shaheen has strong support in the House of Representatives, which also must vote on a defense spending bill. The legislation bars the use of Kaspersky Lab software in government civilian and military agencies.

On September 13, a binding directive issued by Acting Secretary of Homeland Security Elaine Duke, ordered federal agencies to remove Kaspersky Lab products from government computers over concerns the Russia-based cybersecurity software company might be vulnerable to Russian government influence. All federal departments and agencies were given 30 days to identify any Kaspersky products in use on their networks. The departments have another 60 days to begin removal of the software. The statement says, «The department is concerned about the ties between certain Kaspersky officials and Russian intelligence and other government agencies, and requirements under Russian law that allow Russian intelligence agencies to request or compel assistance from Kaspersky and to intercept communications transiting Russian networks». The Russian law does not mention American networks, nevertheless it is used as a pretext to explain the concern.

Similar bans against US government use of Kaspersky products have been suggested before. In 2015, Bloomberg News reported that the company has «close ties to Russian spies».

According to US News, scrutiny of the company mounted in 2017, fueled by U.S. intelligence assessments and high-profile federal investigations of Russian interference in the 2016 election. This summer, the General Service Administration, which oversees purchasing by the federal government, removed Kaspersky from its list of approved vendors.

…click on the above link to read the rest of the article…

Olduvai IV: Courage
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Olduvai II: Exodus
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