Court Filing Illuminates Morgan Stanley Role in Lending

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H/t reader M.G.:

“Looking at the destruction Morgan Stanley wrought on the mortgage market, and the crooked judges are looking for a “settlement” early next year. No word about the millions who suffered as a result of their policies, not just those who bought the homes, but all of us who suffered from radical drop in property values as a result of mass foreclosures around us.”

Morgan-Stanley

– Court Filing Illuminates Morgan Stanley Role in Lending (CNBC/New York Times, Dec 30, 2014):

Since the financial crisis, Wall Street firms have argued that they were victims, just like everybody else, of the bad mortgages that were churned out by subprime lenders like Countrywide and New Century.

Now, though, a trove of emails and confidential documents, filed in court, reveal the extent to which one of Wall Street’s leading banks, Morgan Stanley, actively influenced New Century’s push into riskier and more onerous mortgages, and brushed aside questions about the ability of homeowners to make the payments.

Read moreCourt Filing Illuminates Morgan Stanley Role in Lending

The American People Are Utterly Clueless About What Is Going To Happen As We Enter 2015

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Wrong-Way

– The American People Are Utterly Clueless About What Is Going To Happen As We Enter 2015 (The Economic Collapse, Dec 29, 2014):

The American people are feeling really good right about now.  For example, Gallup’s economic confidence index has hit the highest level that we have seen since the last recession.  In addition, nearly half of all Americans believe that 2015 will be a better year than 2014 was, and only about 10 percent believe that it will be a worse year.  And a lot of people are generally feeling quite good about the people that have been leading our nation.  According to Gallup, once again this year Hillary Clinton is the most admired woman in America and Barack Obama is the most admired man in America.  I don’t know what that says about our nation, but it can’t be good.  Unfortunately, when things seem to be going well common sense tends to go out the window.  A couple days ago, the Guardian ran an article entitled “Goodbye to one of the best years in history“, and a whole lot of people out there are feeling really optimistic these days.  But should they be?

Read moreThe American People Are Utterly Clueless About What Is Going To Happen As We Enter 2015

White House, Congress poised to address commercial drone use

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– White House, Congress poised to address commercial drone use (Al Jazeera, Dec 28, 2014):

Federal Aviation Administration expected to issue rules soon; private, commercial pilots worry about possible collisions

The Obama administration is on the verge of proposing long-awaited rules for commercial drone operations in U.S. skies, but key decisions on how much access to grant drones are likely to come from Congress next year.

Federal Aviation Administration officials have said they want to release proposed rules for drones before the end of this month, but other government and industry officials say they are likely to be delayed until January. Meanwhile, except for a small number of companies that have received FAA exemptions, a ban on commercial drone flights remains in place. Even after rules are proposed, it is likely to be two or three years before regulations become final.

Read moreWhite House, Congress poised to address commercial drone use

‘Ashamed to have served criminals’: Czech veteran returns NATO medals

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The NATO ISAF medal

– ‘Ashamed to have served criminals’: Czech veteran returns NATO medals (Rt, Dec 30, 2014):

A former military doctor who participated in missions in Kosovo and Afghanistan has asked the Czech Defense Ministry to take back his NATO medals, calling the North Atlantic alliance a “criminal organization” with “atrocious interests.”

Lieutenant Colonel Marek Obrtel, former chief of the 11th Czech military hospital in Afghanistan, who also served in Kosovo and Bosnia-Herzegovina, wrote to the Czech Defense Ministry and government in an open letter.

Obrtel said he was giving back four NATO medals he received for his role in international peacekeeping missions as he was “deeply ashamed” of having served in the organization, “led by the US with its monstrous interests around the world.”

“I always performed the service the best I could, according to my belief that such operations cannot be left ‘half done,’” Obrtel wrote. “But even then, particularly in the context of the Kosovo conflict, I began to suspect that our path [military action under NATO’s auspices] is not right.”He said that “anyone who opposes any power interests of the US, even if defending identity, economy and sovereignty of their nation, must be ‘wiped off the map.’”

Read more‘Ashamed to have served criminals’: Czech veteran returns NATO medals

Garry Kasparov vs Vishy Anand – PCA Chess World Championship 1995 – Game 10 (Must-Watch Video)

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Game PGN:
1.e4 e5 2.Nf3 Nc6 3.Bb5 a6 4.Ba4 Nf6 5.O-O Nxe4 6.d4 b5 7.Bb3
d5 8.dxe5 Be6 9.Nbd2 Nc5 10.c3 d4 11.Ng5 dxc3 12.Nxe6 fxe6
13.bxc3 Qd3 14.Bc2 Qxc3 15.Nb3 Nxb3 16.Bxb3 Nd4 17.Qg4 Qxa1
18.Bxe6 Rd8 19.Bh6 Qc3 20.Bxg7 Qd3 21.Bxh8 Qg6 22.Bf6 Be7
23.Bxe7 Qxg4 24.Bxg4 Kxe7 25.Rc1 c6 26.f4 a5 27.Kf2 a4 28.Ke3
b4 29.Bd1 a3 30.g4 Rd5 31.Rc4 c5 32.Ke4 Rd8 33.Rxc5 Ne6 34.Rd5
Rc8 35.f5 Rc4+ 36.Ke3 Nc5 37.g5 Rc1 38.Rd6 1-0

New Level: Monsanto Tries Patenting Natural Tomatoes

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gmo_tomatoes_toxic

– New Level: Monsanto Tries Patenting Natural Tomatoes (Natural Society, Dec 29, 2014):

Stealing a tomato with no biotech traits

Many individuals are aware that biotech has developed a seed monopoly largely by patenting genetically modified organisms, but not everyone realizes that Monsanto tried to patent a tomato that had no biotech traits. Now, the European Patent Office (EPO), with help from an international coalition, No Patents on Seeds!, has revoked Monsanto’s fraudulent patent and claim to tomatoes that are naturally resistant to a fungal disease called botrytis.

These natural, non-GMO tomatoes, like many healthy plants, have a natural resistance to certain pests. In this case, a fungal disease, but this is not a novel phenomenon. Why Monsanto would try to claim they created it is about as believable as Syngenta or Dow saying they invented the sun.

Read moreNew Level: Monsanto Tries Patenting Natural Tomatoes

Gold Held In NY Fed Vault Drops To Lowest In 21st Century After Biggest Monthly Withdrawal Since 2001

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Ennio Morricone – Ecstasy of Gold (The Good, the Bad, the Ugly)

YouTube

 

Ny Fed gold November

– Gold Held In NY Fed Vault Drops To Lowest In 21st Century After Biggest Monthly Withdrawal Since 2001 (ZeroHedge, Dec 29, 2014):

Exactly one month ago we observed that, as expected in the aftermath of the Netherlands’ shocking and still not fully-explained gold repatriation from the NY Fed, the amount of foreign earmarked gold on deposit with the Fed had just experienced a 42 ton withdrawal: the single largest outflow of gold held at the NY Fed in over a decade, going back all the way to 2001. This had brought the total amount of YTD gold withdrawals from the NY Fed to a whopping 119 tons: the most since the Lehman collapse.

However, because this total was insufficient to cover just the Dutch repatriation of gold from the NY Fed (which amounted to 122 tons), we knew there would be more activity when the November data hit. Sure enough, earlier today the Fed reported the total amount of earmarked gold (or gold “held in foreign and international accounts and valued at $42.22 per fine troy ounce; not included in the gold stock of the United States“) for the month of November: at $8.184 billion, this was a $60 million drop from the previous month (or it would be at the $42.22/ounce “price”; at market prices the value of the withdrawn gold is about $1.7 billion).

In actual tonnage terms, this means that in November some 47.1 tons of gold were withdrawn from the NY Fed, bringing the Fed’s total earmarked gold to just 6,029 tonnes: the biggest single monthly outflow going back to the turn of the century. This is also the lowest amount of gold held at the NY Fed vault located at 33 Liberty street (and just across from the even bigger vault located at 1 Chase Manhattan Plaza) in the 21st century.

Read moreGold Held In NY Fed Vault Drops To Lowest In 21st Century After Biggest Monthly Withdrawal Since 2001

US Military Stockpiling ‘Massive Amounts’ Of Gear Near Iraq

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U.S. military has been slowly stockpiling massive amounts of its gear coming out of Afghanistan at a depot in Kuwait

– US Military Stockpiling “Massive Amounts” Of Gear Near Iraq (ZeroHedge, Dec 29, 2014):

Since June, the U.S. military has been slowly stockpiling massive amounts of its gear coming out of Afghanistan at a depot in Kuwait adjacent to a bustling commercial port, in preparation for ultimately shipping it across the border into Iraq for an allied offensive against the Islamic State group, US News reports. Air Force Maj. Gen. Rowayne “Wayne” Schatz admitted, “from June to December, we’ve worked a lot on moving items into Kuwait,” including 3,100 vehicles, most of them MRAPs. While the military stands by President Barack Obama’s repeated pledge that he will not put U.S. combat forces on the ground, an increasing number of U.S. troops has slowly trickled back into Iraq, as the US and its allies are reportedly planning for a massive spring offensive to retake territory from ISIS.

As US News reports,

Since June, the U.S. military has been slowly stockpiling massive amounts of its gear coming out of Afghanistan at a depot in Kuwait adjacent to a bustling commercial port, in preparation for ultimately shipping it across the border into Iraq for an allied offensive against the Islamic State group.

Read moreUS Military Stockpiling ‘Massive Amounts’ Of Gear Near Iraq

Brazil’s Economy Just Imploded

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– Brazil’s Economy Just Imploded (ZeroHedge, Dec 29, 2014):

China may have mastered the art of fabricating economic data to a level unmatched by anyone except the US Department of Labor, but its derivative countries have much to learn. And none other more so than one of China’s favorite sources of commodities over the past decade: Brazil. It is here that things are going from worse to catastrophic, as disclosed in today’s update of Brazil’s fiscal picture.

Here are the disturbing facts showing that behind the world’s propaganda growth facade, it is all hollow: Brazil’s consolidated public sector primary fiscal balance, which posted a significantly worse than expected R$8.1bn primary deficit in November driven by the R$6.7bn deficit of the Central Government, dipped into negative territory: -0.18% of GDP, driven by the significant deterioration of the Central Government finances.

BZ fiscal surplus

Read moreBrazil’s Economy Just Imploded

When Fearmongering Goes Bad: Greece Scrambles To Prevent Deposit Run Goldman Warned About In Its “Worst Case”

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– When Fearmongering Goes Bad: Greece Scrambles To Prevent Deposit Run Goldman Warned About In Its “Worst Case” (ZeroHedge, Dec 29, 2014):

Earlier today we got a classic, if rare, example of what happens when bankers bluff with a 2-7 off suit… and the people call it.

Recall that just over two weeks ago, none other than Greek currency swap expert Goldman (alongside Jean-Claude Juncker who quite explicitly warned Greeks not “to vote wrong“) came out with a fire and brimstone worst-case scenario for Greece, which was nothing but an attempt at fearmongering designed to scare Greek MPs into doing Samaras’ bidding, in which it said not electing the designated presidential candidate may lead to a worst-case scenario which involves a “Cyprus-style prolonged bank holiday.”

For those who have forgotten, these were the salient points from Goldman:

Read moreWhen Fearmongering Goes Bad: Greece Scrambles To Prevent Deposit Run Goldman Warned About In Its “Worst Case”

EU Foreign Policy Chief: West Wants To End Confrontation With Russia Over Ukraine

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European Union Foreign Policy Chief Federica Mogherini
European Union Foreign Policy Chief Federica Mogherini

– West wants to end confrontation with Russia over Ukraine – EU foreign policy chief (RT, Dec 29, 2014):

Western powers want to find common ground with Russia and end their confrontational approach over Ukraine, the EU’s foreign policy chief told Italian media. She denied that the EU differs from the US in its position towards dealing with the crisis.

Federica Mogherini, High Representative of the European Union for Foreign Affairs and Security Policy, identified Ukraine as one of the top conflicts worrying Europe, especially regarding its impact on the eurozone’s relations with Russia.

During an interview with Italy’s la Repubblica newspaper, Mogherini suggested opening up direct dialogue with Moscow.

Read moreEU Foreign Policy Chief: West Wants To End Confrontation With Russia Over Ukraine

Russians panic-buying buckwheat amid national shortage

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– Russians panic-buying buckwheat amid national shortage (Ice Age Now, Dec 29, 2014):

Bad harvest in Siberia has seen Russia run out of the loved grain.

Buckwheat turning to gold?

The Russian economy is close to collapse after a desperate interest rate hike failed to halt a slide in the value of the battered Russian rouble.

The currency has lost around half its value this year due to falling oil prices and the impact of Western sanctions on Moscow over the annexation of Crimea and ‘destabilisation’ of eastern Ukraine.

The entire Russian stock market is now worth less than the market value of Microsoft.

However, the Russians are concerned with a more pressing crisis: they are running out of buckwheat.

Read moreRussians panic-buying buckwheat amid national shortage

WTI Hits $52 Handle As US Rig Count Tumbles To 8-Month Lows

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– WTI Hits $52 Handle As US Rig Count Tumbles To 8-Month Lows (ZeroHedge, Dec 29, 2014):

Just as T. Boone Pickens warned “watch the rig counts” last week, so the Baker Hughes rig countjust collapsed for the 3rd week in a row to 8-month lows. This is the fastest 3-week drop since mid-2009. Crude prices were already weak but the news has flushed WTI to a $52 handle (not seen in the front-month contract since May 2009)

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–  Crude Is Tumbling (Again) (ZeroHedge, Dec 29, 2014):

While mainstream media desperately played up the fact that oil prices were ‘off the lows’ this morning as some kind of positive news, that narrative is now dashed to winds of under-demand and over-supply. With WTI Crude prices testing the multi-year cycle lows once again, crashing below $54, we wonder how long before the Yellen effect wears off…

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Taliban claims victory in Afghan War as NATO ends combat mission

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Mission-Accomplished-Obama

– Taliban claims victory in Afghan War as NATO ends combat mission (RT, Dec 29, 2014):

As the NATO combat mission in Afghanistan comes to an end and allied troops depart, the Taliban has proclaimed itself the victor in the protracted war.

NATO’s International Security Assistance Force (ISAF) combat mission will cease to exist on January 1. However thousands of NATO troops will stay in war-torn Afghanistan on a “training and support” mission.

For the Taliban, NATO’s pullout from Afghanistan is a clear demonstration of the alliance’s weakness.

Read moreTaliban claims victory in Afghan War as NATO ends combat mission

Scottish Government Confirms Ebola Diagnosed In Glasgow Patient

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– Scottish Government Confirms Ebola Diagnosed In Glasgow Patient (ZeroHedge, Dec 29, 2014):

We wonder if England will be reconsidering the secession vote?

  • *SCOTTISH GOVT: CONFIRMED EBOLA CASE DIAGNOSED IN GLASGOW
  • *SCOTLAND: PATIENT IS A HEALTH CARE WORKER, RETURNED FROM SIERRA LEONE DEC. 28

After Japan’s stock market slid overnight following reports of Ebola in Tokyo, one wonders what a recurrence of Ebola headlines will do to risk complacency this time? Perhaps, since the Ebola Tzar’s work is done in America, they can lend him out to The Scots?

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Obama ‘misinformed’ about Russia economy: Analyst

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– Obama ‘misinformed’ about Russia economy: Analyst (PressTV, Dec 29, 2014):

A political economist says US President Barack Obama is “misinformed” about the state of the Russian economy, arguing that the country is not as dependent on oil and gas as the West claims.

In a recent interview with NPR News aired on Monday, Obama took credit for a decline in the value of the Russian currency.

Russian President Vladimir Putin’s policies, Obama said, have not been “so smart,” since sanctions have proved devastating to the Russian economy.

Read moreObama ‘misinformed’ about Russia economy: Analyst

Argentina And UK Falklands Spat Spiced Up By Russian Jets

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A Sukhoi jet fighter Su-24

– Argentina and UK Falklands spat spiced up by Russian jets (RT, Dec 29, 2014):

The Falkland Islands – a UK overseas territory Argentina lays claim to – have been allegedly reviewing their defenses after news Russia may offer Argentina fighter jets. Moscow could swap them for beef and wheat, UK’s Daily Express says in its report.

The deal reportedly involves a lease/lend of twelve Sukhoi Su-24 all-weather attack aircraft, which NATO calls “Fencer A”. The jets will be able to do air patrols over the Falklands’ capital, Port Stanley. According to the tabloid, Ministry of Defense officials fear Buenos Aires will take delivery of the planes well before the 2020 deployment of the Navy’s 65,000-tonne aircraft carrier HMS Queen Elizabeth and its F-35B fighters, leaving a “real window of vulnerability.”

Up to 1,500 troops, backed by a naval warship that visits throughout the year, are permanently based on the Falklands, along with four RAF Typhoon jets, plus anti-aircraft and artillery batteries.

Read moreArgentina And UK Falklands Spat Spiced Up By Russian Jets

£2mn cadet sex-abuse silence: UK Def Min exposed

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UK Def Min exposed

– £2mn cadet sex-abuse silence: UK Def Min exposed (RT, Dec 29, 2014):

The Ministry of Defence (MoD) has paid more than £2 million in out-of-court settlements during the past three years following claims of sexual abuse against cadets, a freedom of information request has revealed.

The information, obtained by the Guardian, showed that the MoD had settled out-of-court payments for allegations including abuse rituals performed by older boys on younger cadets. Some cases were payouts to adults for historic abuse claims, but others were reportedly much more recent.

In 2014, eight payouts, totaling £544,213, were made to cadets who claimed to have suffered abuse in the Army Cadets, Combined Cadet Force (CCF) and Air Cadet Organisation.

In one case, it was alleged that a victim of sexual abuse had given birth to her abuser’s child following repeated sexual abuse. The girl subsequently suffered chronic post-traumatic stress disorder and other psychological problems. The MoD admitted liability and paid £210,000 in settlement.

Read more£2mn cadet sex-abuse silence: UK Def Min exposed

ISIS Claims 2nd Fighter Jet Downed Near Baghdad, Pilot Captured

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– ISIS Claims 2nd Fighter Jet Downed Near Baghdad, Pilot Captured (ZeroHedge, Dec 28, 2014):

While the US-led coalition claims that the first fighter jet was “not downed” by ISIS, the fact that ISIS is now claiming to have downed a 2nd fighter jet in Balad (north of Baghdad) and captured the pilot, suggests the west may not be being entirely honest (two ‘crashes’ in a week is perhaps more worrisome than 2 ‘shot down’ in a week). What is even more disturbing is the fact that ISIS has taken to social media to ask how the first captured Jordanian pilot should die…

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Snowfall records “smashed” in Oklahoma and Texas

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– Snowfall records “smashed” in Oklahoma and Texas (Ice Age Now, Dec 29, 2014):

27 Dec 2014 – “Oklahoma City’s one-day snow fall record of 1.3 inches set in 1968 was smashed with 3.5 inches of snowfall on Saturday,” says this article in the Duncan Banner.

Just across the Red River in Texas, Wichita Falls saw 2 inches of snow.

“According to the National Weather Services, the oldest records show there has never been snow on Dec. 27 in Wichita Falls.” (italics added)

(Two inches of snow may not sound like much, but compared to “never,” it’s a definite record.)

http://www.duncanbanner.com/news/record-snowfall/article_11e2bf90-8e2e-11e4-b639-abdb10a8e24f.html

Massive snowfall traps thousands in French Alps

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Alps-Massive_storm

– Massive snowfall traps thousands in French Alps (Ice Age Now, Dec 28, 2014):

Officials open emergency shelters in at least 12 towns.

France’s Interior Minister Bernard Cazeneuve urged drivers “to exercise the utmost caution” and asked those who could delay their trips to do so.

The country declared an orange weather alert — one step under the maximum red alert — in 19 regional departments.

Read moreMassive snowfall traps thousands in French Alps