Mexican leftist candidate has “affable’ meeting with BlackRock’s Fink

•May 17, 2018 • 2 Comments

https://www.reuters.com/article/us-mexico-election-blackrock/mexican-presidential-campaigns-meeting-with-blackrocks-larry-fink-idUSKBN1I81XI?utm_campaign=trueAnthem:+Trending+Content&utm_content=5af0fb4f04d30133d7ed41d7&utm_medium=trueAnthem&utm_source=twitter

Mexico’s presidential front-runner met BlackRock Inc Chief Executive Larry Fink on Monday, part of a push by the left-wing politician to reassure investors about his policies ahead of the July vote, and his team said the men clicked personally.

Andres Manuel Lopez Obrador, who is ahead by double digits in most major polls, has been openly fighting with some Mexican business leaders, and said he would review major energy contracts and a $13 billion airport project.

His campaign has met with multiple foreign fund managers in recent months to try and calm concerns about his policies, with aides telling investors that he is not opposed to foreign investment and markets.

BlackRock, the world’s largest asset manager, is heavily invested in Mexico and in November announced it would acquire the local asset management business of a Citigroup Inc subsidiary.

Fink met Lopez Obrador on Monday morning in Mexico City, the candidate’s adviser Carlos Urzua said, praising Fink’s understanding of the country.

“It was a very affable meeting. … There was an immediate click between them. They both left the meeting charmed,” said Urzua, who is Lopez Obrador’s pick for finance minister. BlackRock declined to comment on the content of the encounter.

The meeting follows a change in tone from Lopez Obrador in recent days after a series of clashes with business leaders over what he calls influence trafficking. On Monday, he said a private concession could salvage the $13 billion airport project he has previously threatened to scrap.

Markets have not reacted strongly to Lopez Obrador’s lead in the polls.

The peso has weakened more than 7 percent against the dollar since mid-April, but the fall is mostly in line with other emerging market currencies. Fund managers and companies warn the next few months could be more volatile, partly on concerns over Lopez Obrador’s economic policy.

BlackRock, which has $6.3 trillion in assets under management, engages with governments “irrespective of party affiliations,” the company said in a statement. Fink was a vocal supporter of President Enrique Pena Nieto’s economic reforms.

https://en.wikipedia.org/wiki/Laurence_D._Fink

He is the chairman and CEO of BlackRock, an American multinational investment management corporation. BlackRock is the largest money-management firm in the world with more than $6 trillion in assets under management.

Fink grew up in a Jewish family in Van Nuys, California, where his mother was an English professor and his father owned a shoe store. He earned a BA in Political Science from UCLA in 1974. Fink is also a member of Kappa Beta Phi.

————

“BlackRock is the largest money-management firm in the world with more than $6 trillion in assets under management.”

i guess the obvious question is..why?

“BlackRock, the world’s largest asset manager, is heavily invested in Mexico and in November announced it would acquire the local asset management business of a Citigroup Inc subsidiary.”

so..he needs to get his policies signed off by blackrock?

i call that a technocracy..

fink eh?..i wonder if his family was finkelsteins before ww2..

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December 2017: MSU SCHOLARS FIND $21 TRILLION IN UNAUTHORIZED GOVERNMENT SPENDING

•May 16, 2018 • Leave a Comment

https://msutoday.msu.edu/news/2017/msu-scholars-find-21-trillion-in-unauthorized-government-spending-defense-department-to-conduct/

Earlier this year, a Michigan State University economist, working with graduate students and a former government official, found $21 trillion in unauthorized spending in the departments of Defense and Housing and Urban Development for the years 1998-2015.

The work of Mark Skidmore and his team, which included digging into government websites and repeated queries to U.S. agencies that went unanswered, coincided with the Office of Inspector General, at one point, disabling the links to all key documents showing the unsupported spending. (Luckily, the researchers downloaded and stored the documents.)

Now, the Department of Defense has announced it will conduct the first department-wide, independent financial audit in its history (read the Dec. 7 announcement here).

The Defense Department did not say specifically what led to the audit. But the announcement came four days after Skidmore discussed his team’s findings on USAWatchdog, a news outlet run by former CNN and ABC News correspondent Greg Hunter.

“While we can’t know for sure what role our efforts to compile original government documents and share them with the public has played, we believe it may have made a difference,” said Skidmore, the Morris Chair in State and Local Government Finance and Policy at MSU.

Skidmore got involved last spring when he heard Catherine Austin Fitts, former assistant secretary of Housing and Urban Development, refer to a report which indicated the Army had $6.5 trillion in unsupported adjustments, or spending, in fiscal 2015. Given the Army’s $122 billion budget, that meant unsupported adjustments were 54 times spending authorized by Congress. Typically, such adjustments in public budgets are only a small fraction of authorized spending.

Skidmore thought Fitts had made a mistake. “Maybe she meant $6.5 billion and not $6.5 trillion,” he said. “So I found the report myself and sure enough it was $6.5 trillion.”

Skidmore and Fitts agreed to work together to investigate the issue further. Over the summer, two MSU graduate students searched government websites, especially the website of the Office of Inspector General, looking for similar documents dating to 1998. They found documents indicating a total $21 trillion in undocumented adjustments over the 1998-2015 period. (The original government documents and a report describing the issue can be found here.)

In a Dec. 8 Forbes column he co-authored with Laurence Kotlikoff, Skidmore said the “gargantuan nature” of the undocumented federal spending “should be a great concern to all taxpayers.”

“Taken together these reports point to a failure to comply with basic constitutional and legislative requirements for spending and disclosure,” the column concludes. “We urge the House and Senate Budget Committee to initiate immediate investigations of unaccounted federal expenditures as well as the source of their payment.”

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from 2017..austin fitts eh?

“found $21 trillion in unauthorized spending in the departments of Defense and Housing and Urban Development for the years 1998-2015.”

almost smells like fake news..but i dont think it is..

snouts in the trough much?

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Israel massacres over 50 Palestinians and injures nearly 3000

•May 15, 2018 • 18 Comments

https://www.rt.com/news/426617-gaza-protests-embassy-jerusalem/

Fifty-five Palestinian protesters, including six children under 18, have been killed by Israeli fire during demonstrations on the day of the US embassy’s inauguration in Jerusalem, the Palestinian health ministry said Monday.

More than 2,700 protesters have been injured in Gaza on what has been the most violent day of the six week long Great March of Return. Those wounded on Monday include 203 children and 78 women, according to the ministry.

The Palestinian government denounced Monday’s violence as a “terrible massacre” perpetrated “by the forces of the Israeli occupation”, and called for an immediate international intervention to prevent further deaths. A day of national mourning has been declared by the government in Ramallah, to be held Tuesday.

Around 35,000 protesters gathered at the border fence and thousands more within half a mile of the vicinity, according toIsraeli Defence Forces.

Clashes have also reportedly broken out between protesters and the Israeli Defense Forces in Bethlehem.

The first of Monday’s deaths was 21-year-old Anas Hamdan Qudeih, killed east of Khan Yunis, a spokesperson for the ministry said. A 29-year-old man, Mosaab Yousef Ibrahim Abu Laila, was later killed east of Jabalya. Some of the dead have yet to be identified. Six children under the age of 18, including one girl, are among the fatalities.

Amnesty International has called the Israeli violence in Gaza “an abhorrent violation of international law & human rights.”

Around half of all injuries were caused by live bullets while hundreds more were targeted with teargas, according to the ministry. The Palestinian Health Ministry claims that Israeli forces are directly targeting emergency services and journalists and are calling on citizens to urgently donate blood to help save the lives of those wounded.

Six journalists have reportedly been injured while covering Monday’s demonstrations, according to the Journalist Support Committee.

———–

were is the fucking outrage?..hang your heads in shame western leaders..

“Around half of all injuries were caused by live bullets while hundreds more were targeted with teargas, according to the ministry. The Palestinian Health Ministry claims that Israeli forces are directly targeting emergency services and journalists and are calling on citizens to urgently donate blood to help save the lives of those wounded.”

trump getting the blame..he contributed to it with the embassy decision..but who did the shooting?

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Inside the world’s most elite (and secret) traders’ club

•May 15, 2018 • Leave a Comment

https://www.bloomberg.com/news/features/2018-05-03/inside-the-world-s-most-elite-and-secret-traders-club?cmpid=socialflow-twitter-business&utm_content=business&utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter

The nameless group confers “a hunting license” that lets an investor sit at the “big boy table and make high-level trades not available to stupid amateurs.”

In an industry where power and influence are measured in dollars and cents, this may be the most exclusive club in finance: The price of admission is at least $25 million.

It has no name and no board of directors but has a roster drawn from the world’s wealthiest and most successful traders. Members essentially become their own one-person firms, even firms within firms, by gaining a seal of approval to deal in the complex products typically reserved for institutions that manage hundreds of billions of dollars. And all without drawing the attention of Wall Street’s everyday millionaires.

Their ranks are getting more selective. While no one keeps count, people in the industry guesstimate that the total peaked at no more than 3,000 a decade ago and has shrunk considerably since the financial crisis. Months of interviews have yielded the identities of just 12 individuals who held the prize: an ISDA master agreement.

They have included hedge fund titans Chris Rokos and Michael Platt, as well as whales at Deutsche Bank AG and Goldman Sachs Group Inc., which became clients of their own employers.

In the $542-trillion market for over-the-counter derivatives, ISDA agreements set out the trading terms between two parties. In the vernacular of Adam McKay’s adaptation of Michael Lewis’s The Big Short, they represent “a hunting license” that lets an investor sit at the “big boy table and make high-level trades not available to stupid amateurs.” The firms that hand them out gain access to the most desirable customers possible.

“Banks do this business because they can charge two or three times more than they would a company,” said Manuel de Souza-Girao, a former senior wealth manager at Deutsche Bank and Credit Suisse Group AG. “And it’s a good way of attracting valuable clients.”

People such as Rokos, 47, who has a net worth of $1.2 billion, according to the Bloomberg Billionaires Index. The British co-founder of Brevan Howard Asset Management, who now runs his own hedge fund, was personally the counterparty on ISDA agreements in 2013 when he set up a family office. That meant Rokos himself was on the hook if the trades went against him.

Platt, 49, who runs BlueCrest Capital Management, also previously had a personal ISDA agreement, said people familiar with the matter. Platt’s net worth is estimated at $2.9 billion by the Bloomberg Billionaires Index.

“This is not a product rolled out to your average trader earning $2 to $5 million a year,” said Nelson Rangel, a former credit trader who is now the chief investment officer of Raven Capital BV, an investment-management firm for wealthy individuals. “It would be something for famous traders or investors with significant personal wealth who would have no trouble posting large amounts of collateral.”

Rokos declined to comment for this article, while Platt did not respond to multiple emails seeking comment.

ISDAs are not only for celebrity investors. A cohort of lesser-known senior bankers and fund managers who don’t appear on the front pages have used the wealth and connections they’ve built up in the finance industry to gain access.

Sofiane Gharred, 39, made his fortune trading credit derivatives. When serving out a non-compete period in 2014 before starting his hedge fund Selwood Asset Management, he signed an ISDA with Citigroup Inc. and traded the riskiest portions of credit default swap indexes, according to people familiar with the matter.

Gharred, who was born in Tunisia and studied in Paris, declined to comment on his personal investments. He said he has not placed any personal trades since starting Selwood in London in mid-2015 and that managing his own capital “has never been a final aim.” Selwood grew its assets under management to $1 billion in its first two years.

To trade swaps and other OTC contracts with Citigroup, an individual must have a net worth of at least $25 million, $5 million or more of which must be deposited in an account with the bank, according to people familiar with the matter. Goldman Sachs and JPMorgan Chase & Co. require greater wealth, the people said, although in most cases the guidelines can be tweaked for long-term clients.

A spokeswoman for Citigroup declined to comment on the firm’s derivatives dealings with individuals.

https://en.wikipedia.org/wiki/ISDA_Master_Agreement

———-

not that secret really eh?

“To trade swaps and other OTC contracts with Citigroup, an individual must have a net worth of at least $25 million, $5 million or more of which must be deposited in an account with the bank, according to people familiar with the matter. Goldman Sachs and JPMorgan Chase & Co. require greater wealth, the people said, although in most cases the guidelines can be tweaked for long-term clients.”

401

Images 13/5/18

•May 14, 2018 • 15 Comments

i see 3 x 6..

yeah i did..

chaka..chaka..chaka khan..

80s style one eye..

brilliant..mum and daddy are now alexa..

the boy shouting out to his overlords..

how persuasive and caring..love over hate?

https://www.submarinecablemap.com/#/

follow the money..follow the cable..click the link..

is that how we got to here?..magick?

met gala went catholic..i have no idea why..katy perry as an angel..

ariana sporting a famous painting..which one? 😉

ri ri as the pope..fitting..

one is george soros’ son..who is the other?..hint..hes from new york..and he likes to hit women..

one is george soros’ son again..who is the other?..looks a bit markle eh?..click the link below to know what they are talking about..devils heaven..

https://www.watermillcenter.org/benefit-2013/

401

Mahathir claims historic victory in incredible Malaysian election win

•May 11, 2018 • 10 Comments

https://www.smh.com.au/world/asia/mahathir-claims-historic-victory-in-incredible-malaysian-election-win-20180509-p4zeco.html

Mahathir Mohamad has claimed an extraordinary victory in Malaysia’s 14th general election, opening the door for the first change of government in the 61 long years since the country’s independence from Britain.

In a result that has dumbfounded most analysts and turned the political system of Malaysia upside-down after decades of one-party rule, the Muslim-majority nation delivered a resounding vote for change on Wednesday by dumping the government of Prime Minister Najib Razak.

The result will go off like a political earthquake in south-east Asia, where there has long been a tendency towards one-party rule and which in recent years has taken a turn towards more authoritarian regimes.

After a marathon night of counting which appeared to grind to a complete halt at one point, Mahathir’s Pakatan Harapan (Alliance of Hope) coalition of four parties had won at least 119 seats in the 222 member Parliament by 6am, Australian time.

And according to official results from the Electoral Commission – who many accused of favouring the ruling party – Najib’s Barisan Nasional (National Coalition) had won just 97 seats, with six to be decided.

Immediately after the declaration of the results, people took the streets and parks of Kuala Lumpur, car horns blaring and flags waving as the nation of 31 million people celebrated a historic victory.

———-

wow..a big fall for the incumbents..

“The result will go off like a political earthquake in south-east Asia, where there has long been a tendency towards one-party rule and which in recent years has taken a turn towards more authoritarian regimes.”

https://en.wikipedia.org/wiki/Mahathir_Mohamad

401

Iranian forces “fire rockets” at Israeli positions in Golan Heights

•May 10, 2018 • 19 Comments

http://www.bbc.com/news/world-middle-east-44063022?intlink_from_url=&link_location=live-reporting-story

Israel’s military says Iranian forces have fired rockets at its positions in the occupied Golan Heights

It said around 20 rockets were fired by Iran’s Revolutionary Guard early on Thursday and some were intercepted, adding that there were no casualties.

Earlier this week, Israel said it had noted “irregular activity” by Iranian forces in the region.

It placed its troops in the Golan Heights on high alert and urged civilians to take shelter.

In a statement, the Israel Defense Forces (IDF) said it viewed the incident “with great severity and remains prepared for a wide variety of scenarios”.

A spokesman for the military, Jonathan Conricus, said that Israel had retaliated for the attack but did not give details.

Syria’s state news agency Sana later said Israeli missiles had been shot down over Syria by anti-aircraft defences.

The latest confrontation follows a reported Israeli missile strike on a military outpost south of the Syrian capital of Damascus on Tuesday.

Sana reported that two missiles were shot down in the Kiswah area and that two civilians were killed in an explosion.

But the Syrian Observatory for Human Rights, a UK-based monitoring group, said the missiles hit an Iranian weapons depot, killing 15 pro-government fighters.

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(((they))) have what they want..unbridled attacks on syrian soil against the very people killing off isis..

of course iran hit back..do you think they will just sit there and get their arses handed to them?

did ww3 break out without us noticing?

401

 
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