News, Rumors and Opinions Thursday Afternoon 11-29-19
KTFA:
Samson: The Fed is pumping $ 109 billion into the US financial system
27th November, 2019
The Federal Reserve Bank of New York announced that it has injected $ 108.95 billion into the US financial system
The bank said in a statement on Wednesday that it would inject $ 87.95 billion through repurchase agreements "repo overnight
The bank also said it would repurchase securities at about $ 21 billion repo for 15 days
The Fed yesterday pumped $ 92.7 billion to provide more liquidity in US financial markets
The Fed has begun repurchasing securities since mid-September in an effort to stem the rise in short-term financing costs and keep them within the target range of 1.50 to 1.75 percent LINK
Samson: Fed: US economy is growing at a moderate pace with positive outlook
27th November, 2019
The Federal Reserve said that the US economy grew at a moderate pace, noting that the economic outlook remained positive
The Fed said in a "Big Book" report released Wednesday for the period from October to mid-November, that more areas reported an expansion in the manufacturing sector compared to the previous period, although most is still suffering from the deterioration in this sector
The Fed said the economic outlook remained broadly positive, with current growth expected to continue next year
The central bank said employment continued to rise slightly even as the US labor market remained tight
Many regions noted significant job growth in professional and technical services as well as health care, according to the Fed
Wages continued to grow at a moderate pace in most regions, the central bank said
Most regions reported modest price increases during the reporting period, while some reported higher costs due to tariffs LINK
***************
Samson: China summons US ambassador to protest US support for Hong Kong protests
2019/11/28 10:22
China's Foreign Ministry on Thursday summoned the US ambassador to Beijing to protest a law supporting the pro-democracy movement in Hong Kong, calling on Washington to refrain from enforcing it to "avoid further damage" to relations.
Chinese Vice Foreign Minister Li Yusheng told US Ambassador Terry Branstad of Beijing's "strong" protest after US President Donald Trump passed the law, the ministry said in a statement. The bill comes at a time when the world's two biggest economic powers are negotiating a partial deal to ease their trade war. "Li stressed that China strongly urges the US side to correct its mistakes and change course," the ministry said in the statement.
He also called on the United States to "refrain from the application of law and immediately stop interfering in Hong Kong and China's internal affairs, to avoid further damage to Sino-US relations and bilateral cooperation in important areas."
The Hong Kong Human Rights and Democracy Act forces the US president to review the city's preferential trade status annually and threatens to abolish it if freedoms in the semi-autonomous region are restricted. Trump also signed a law banning the sale of liquefied gas, rubber bullets and other equipment used by Hong Kong security forces to suppress demonstrators. LINK
******************
TNT:
Actech426: Good morning America, ships at sea and all our wide world friends. Let us hold up everyone in prayer and Thanksgiving. Okie 2016
Briona: With the burning of 731 banks, 140 public places, 9 religious centers, 70 gas stations and 34 ambulances, it appears like Iran is facing major up rest with it's own population. The people of Iran hate the government as much as the Iraqi's hate Iran's influence in theirs.
Harambe: Reuters: Iraqi forces kill 28 protesters after Iranian consulate torched https://reut.rs/2OTrmXX
Harambe: AP News: 20 Iraqi protesters shot dead in 24 hours, violence spirals https://apnews.com/de6d09e824b54091a070d5a815e93a2a
Phantom809: Over the River and Through the Woods To Grandmother's House We Go --- https://www.youtube.com/watch?v=Zl5r76hVYF0
***************
Tishwash: Provinces announced that holiday on Thursday
A number of governorates announced the suspension of official working hours on Thursday.
The administration of Dhi Qar province decided to suspend official working hours in the province for three days to include on Thursday, against the backdrop of the events witnessed by the province of banditry and bridges.
Diwaniya also decided to suspend official working hours in the province tomorrow for the same reason.
The governor of Najaf, Louay al-Yasiri, decided to disable the official working hours on Thursday in the province, all state departments except security, health and service departments, attributing the reason to cut most roads because of demonstrations in some of the main streets. link
Lynette Zang:
WILL YOUR MONEY LAST? 3 Ways 401k Withdrawals Are Changing in 2020
Nov 28, 2019
Studies have shown that the Netherlands was one of the two biggest beneficiaries of the European Union with high stock and bond markets, low unemployment and high home prices, yet today, the state of their pension systems, both public and private, threaten pensioners current payments.
In fact, the “Netherlands is widely considered to have one of the world’s best-funded and most generous pensions systems, so its problems may provide an early indication of a wider global pensions funding shortfall.”
Is this the canary in the coal mine that tells us that the pension crisis is becoming too big to hide? Additionally, the rules surrounding your access to an active 401K are changing too.
Which is amazing since governments seem so concerned about “leakage” (early withdrawals) from your retirement plan. Yet the new rules make taking early withdrawals easier. Specifically, target date funds that turn out to be created, managed and recommended by the same institutional investors that invest your retirement money. Why is that a problem you ask?
Because, your choices may be directed to what benefits the fund manager the most, rather than you. Now that would be bad enough, but there is a hidden danger that has grown exponentially since 2008 and you, most likely, don’t even know about it. But you should. It’s called “Interfund Lending” and it makes the safest fund in a fund family, as risky as the riskiest in that same fund family. The Investment Act of 1940 prohibited interfund lending because it “can lead to cross-fund subsidization at the expense of some investors.”
Section 13(a) allowed a waiver if funds obtained shareholder approval. Since 2008 the SEC has granted 48 investment companies’ waivers. Do you remember giving your approval?
Perhaps that’s because you are not the legal registered owner but merely a beneficial owner, so they didn’t have to legally ask you.
Do you trust them? For real wealth preservation we need real money, gold. Over 6,000 years only gold has proven to hold value as fiat currencies purchasing power is inflated away.
Keiser Report: Forever Wars & Negative Rates (E1468)
Nov 28, 2019
In this episode of the Keiser Report, Max and Stacy discuss the high cost of the ‘forever wars,’ as trillions are spent without the taxpayer realizing because of changes in the naming of the wars.
The longest war so far, for example, in Afghanistan and Pakistan, has had two names: Operation Enduring Freedom and Operation Freedom’s Sentinel, so, voters don’t realize lives and treasure are being wasted in the same theatre.
Max and Stacy compare this to the ever-shifting naming of the central bank programs to bailout banks. In the second half, Max continues his conversation with Alasdair Macleod of Goldmoney.com about 150 years of bank credit expansion nearing an end.
They also discuss Alasdair’s predictions for 2020 on gold, the dollar, and the global settlements layer.