ODIN98 USAF E-4B Nightwatch departed Wright-Patterson AFB and on descent for Lincoln Muni Airport, NE
09-0016 USAF C-32A departed JBA west
morning
West Virginia Gov. Personally On The Hook For $700MM In Greensill Collapse
The collapse of Greensill Capital has been the biggest financial scandal of the year so far, having set off a massive public corruption scandal in the UK that has deeply embarrassed the ruling Conservative Party due to the close involvement of former PM David Cameron, who was on the Greensill payroll and was caught trying to steer relief funds meant for small businesses to Greensill to help avert its collapse.
Most recently, Credit Suisse cited Greensill as its reason for cutting off SoftBank from all future investment-banking business after the Japanese mega-conglomerate with a VC arm was caught lying about its real role in CS's trade finance funds that were stocked with Greensill-packaged assets. Softbank was essentially using the fund to quietly bolster some of its portfolio companies, while also serving as an investor in the fund - an obvious conflict that we first pointed out in 2019.
But while the Greensill scandal forces a rethink of lobbying laws in Britain, at least one American politician has now been caught up in the madness: Republican West Virginia Gov. Jim Justice, who is now in the bag for $700MM thanks to Greensill's collapse.
According to WSJ's sources, Justice (who handily run reelection in the fall after switching from a Democrat to a Republican) is personally on the hook for nearly $700MM in loans to his coal companies - loans that were taken out from Greensill.
He is also dealing with several "unrelated lawsuits" that are also putting financial pressure on his coal company. Some of the loans to Justice's companies were sliced up and incorporated into securities that wound up, among other places, in the $10 billion Credit Suisse fund that was gated at the beginning of the Greensill crisis. Justice's Bluestone Resources is in talks to repay borrowers including Credit Suisse and others.The company has been ID's as "one of three major borrowers" involved with the fund.
Bluestone hadn’t expected to begin repaying the Greensill loans until 2023 at the earliest, it said in a lawsuit fled back in March, right around the time that Greensill filed for insolvency in the UK. Greensill's financial troubles are supposedly responsible for Justice being dropped from the Forbes' billionaires' list. It now estimates his net worth at $450 million, down from $1.2 billion in April 2020.
Bluestone and Greensill began their financing relationship in May 2018, when Greensill Vice Chairman Roland Hartley-Urquhart reached out to the firm through a mutual acquaintance. Bluestone companies received financing over a three-year period, and when the first set of loans matured, Greensill replaced them with new loans in a process that became known as a "cashless roll," just one of the sketchy practices embraced by Greensill and its borrowers. In one particularly egregious process, Greensill and Bluestone embraced "prospective receivables" which haven't yet been generated. These "prospective" loans were sometimes booked from "prospective buyers", some of whom (likely many of whom) never actually became Bluestone customers.
https://www.zerohedge.com/political/west-virginia-gov-personally-hook-700mm-greensill-collapse
Top Credit Suisse FIG banker in Europe to join Jefferies
Credit Suisse has lost a key dealmaker in Europe, two sources familiar with the move said, as a pay-driven exodus of top investment bankers which began in the United States spreads.
Switzerland’s second-largest bank is struggling to retain staff after trimming bonuses to tackle losses of more than $5 billion stemming from the collapse of U.S. investment firm Archegos and damage caused by Greensill Capital’s insolvency. Armando Rubio-Alvarez, who heads the Swiss bank’s financial institutions (FIG) franchise in Europe, the Middle East and Africa, is moving to Jefferies, the sources said. His appointment follows the departure of Credit Suisse’s global head of financial institutions, Alejandro Przygoda, who recently announced plans to move to Jefferies alongside three other bankers in his New York-based FIG team. Rubio-Alvarez, whose move will be effective after the summer, will take on European responsibilities at Jefferies, leading coverage of some of its biggest financial clients.
Credit Suisse declined to comment and Jefferies was not immediately available for comment.
https://www.reuters.com/article/credit-suisse-rubio-alvarez-moves/update-1-top-credit-suisse-fig-banker-in-europe-to-join-jefferies-sources-idUSL5N2NJ3Z6
SAM188 USAF C-32A departed JBA for San Jose, Costa Rica
U.S. Secretary of State Antony Blinken will travel to Costa Rica today
U.S. Secretary of State Antony J. Blinken arrives today, Tuesday, June 1, in Costa Rica, for “a very frank and honest” exchange of views to take Central American officials to task on corruption in their countries and to examine how they can more efficiently block migration to the U.S. Blinken’s visit coincides with the annual meeting of the foreign ministers of the eight-member Sistema de Integración Centroamericana (SICA) – Central American Integration System, an economic and political association of all Central American countries plus the Dominican Republic. Following his arrival, Blinken will first meet with Costa Rica President Carlos Alvarado and the Minister of Foreign Relations, Rodolfo Solano, after which there will be the ceremonial signing of the security alliance between the two countries. The U.S. Secretary of State will then hold a joint press conference with Alvarado. At 6:00 pm, there will be a meeting of the SICA member ministers, which includes the foreign ministers of Guatemala, Honduras and El Salvador and Mexico’s Foreign Minister, Marcelo Ebrard, who is attending as an observer. Blinken’s trip to Costa Rica will be followed by the first official visit by U.S. Vice President Kamala Harris to Guatemala and Mexico next week.
https://qcostarica.com/u-s-secretary-of-state-antony-blinken-will-travel-to-costa-rica-today/
AMC Extends Massive Meme Stock Rally After CEO Touts $230 Million Raise And ‘Aggressive’ Growth Strategy
Shares of AMC Entertainment, the world's largest movie theater chain, skyrocketed more than 20% Tuesday morning after CEO Adam Aron rallied around retail traders' massive interest in the company while announcing it raised $230.5 million in a new stock sale—cashing in on its shares' meteoric rise despite analyst warnings that the high prices aren't warranted.
Mudrick Capital, an investment firm focusing on distressed assets, helped AMC raise cash at the depths of the firm's pandemic uncertainty. In December, it agreed to convert $100 million of its existing AMC debt to about 13.7 million shares—at the time worth about $57 million and now worth more than $400 million. At the time, the company was burning about $125 million each month just to stay afloat.
https://www.forbes.com/sites/jonathanponciano/2021/06/01/amc-extends-massive-meme-stock-rally-after-ceo-touts-230-million-raise-and-aggressive-growth-strategy/?sh=48289c6435c0
B-B-But muh stonks...you'll have ta adjust those gains from 20 minutes ago.
Announce a secondary...bait the newbs and then drop it for the HODL crowd
28.61+2.49 (+9.53%)
OPEC+ keeps its agreement to gradually return 2 million barrels a day to the market through July
The Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+ agreed at a meeting held Tuesday to keep its current production agreement in place to "gradually return 2 million barrels a day...of the adjustments to the market." The pace of that return will be "determined according to market conditions," OPEC+ said in a press release issued just after the meeting concluded. At a meeting on April 1, the group of producers said it would raise daily oil production by 350,000 barrels in May, 350,000 barrels in June and by 441,000 barrels in July. At the time, Saudi Arabia also said it would roll back its voluntary output cut by 250,000 barrels a day in May, 350,000 barrels a day in June and by 400,000 barrels a day in July. On Tuesday, OPEC+ "emphasized the need to continue to consult and closely monitor market fundamentals" and maintain the monthly OPEC+ meetings. July West Texas Intermediate crude CLN21, 3.53% climbed $2.35, or 3.5%, to $68.67 a barrel on the New York Mercantile Exchange. August Brent crude BRNQ21, 2.65% traded at $71.18 a barrel, up $1.86, or 2.7%, on ICE Futures Europe.
https://www.marketwatch.com/story/opec-keeps-its-agreement-to-gradually-return-2-million-barrels-a-day-to-the-market-through-july-2021-06-01
got dis on the docket comin up too
from Feb 5th, 2021
From “Event 201” to “Cyber Polygon”: The WEF’s Simulation of a Coming “Cyber Pandemic”
On Wednesday, the World Economic Forum (WEF), along with Russia’s Sberbank and its cybersecurity subsidiary BI.ZONE announced that a new global cyberattack simulation would take place this coming July to instruct participants in “developing secure ecosystems” by simulating a supply-chain cyberattack similar to the recent SolarWinds hack that would “assess the cyber resilience” of the exercise’s participants. On the newly updated event website, the simulation, called Cyber Polygon 2021, ominously warns that, given the digitalization trends largely spurred by the COVID-19 crisis, “a single vulnerable link is enough to bring down the entire system, just like the domino effect,” adding that “a secure approach to digital development today will determine the future of humanity for decades to come.”
The exercise comes several months after the WEF, the “international organization for public-private cooperation” that counts the world’s richest elite among its members, formally announced its movement for a Great Reset, which would involve the coordinated transition to a Fourth Industrial Revolution global economy in which human workers become increasingly irrelevant. This revolution, including its biggest proponent, WEF founder Klaus Schwab, has previously presented a major problem for WEF members and member organizations in terms of what will happen to the masses of people left unemployed by the increasing automation and digitalization in the workplace.
New economic systems that are digitally based and either partnered with or run by central banks are a key part of the WEF’s Great Reset, and such systems would be part of the answer to controlling the masses of the recently unemployed. As others have noted, these digital monopolies, not just financial services, would allow those who control them to “turn off” a person’s money and access to services if that individual does not comply with certain laws, mandates and regulations.
The WEF has been actively promoting and creating such systems and has most recently taken to calling its preferred model “stakeholder capitalism.” Though advertised as a more “inclusive” form of capitalism, stakeholder capitalism would essentially fuse the public and private sectors, creating a system much more like Mussolini’s corporatist style of fascism than anything else.
moar
https://unlimitedhangout.com/2021/02/investigative-reports/from-event-201-to-cyber-polygon-the-wefs-simulation-of-a-coming-cyber-pandemic/
02-5001 USAFSOC C-32B on descent for Cincinnati, OH Cincinnati/Northern Kentucky International Airport from it's ground stop at Bragg
TERRA97 USAFSOC C-32B heading back to JBA (these must be the cert and/or maintenance flights for these AC'S under the TERRA call sign-they usually go back to origin Airport)
Not AF1 Joe departing JBA for Tulsa Int'l
Biden to meet with survivors of Tulsa's race massacre on 100th anniversary
https://www.nbcnews.com/politics/joe-biden/biden-meet-survivors-tulsa-s-race-massacre-100th-anniversary-n1269193
82-8000 USAF 747 departed JBA to Tulsa Int'l Airport
SAM596 USAF G5 west from JBA depart
N22PP Nat Park Police (Dept. of Interior) Bell 412 in it's customary position from Eagle's Nest on da mall
TERRA97 USAFSOC C-32B on a hold for Not AF1 Joe departure as is VENUS62 USAF G5 KAF AC of interdast from it's non-VIP werk over Spooktown
Russia Again Warns SWIFT Disconnection A Real Possibility In "Sanctions Spiral"
Russia is again warning of the impending threat of the West blocking its banks from using the SWIFT payment system amid a broad "spiral of sanctions" - in the words of director of the Economic Cooperation Department (DEC) of the Russian Foreign Ministry Dmitry Birichevsky.
"It's no secret that there are threats, primarily from the United States, to disconnect Russia from the SWIFT system," he described in Monday statements to a national broadcaster. It's certainly not the first time that Western allies have threatened such. The threat to cut off Russia from the global system for financial messaging and cross-border payments which acts as the protector of the dollar reserve system has lingered for the past half-decade, going back to the initial Crimea crisis and the start of war in eastern Ukraine, and recently repeated in an EU resolution. The top Russian economic officials still said he's confident Russia won't be disconnected "anytime soon" or possibly never, but used the lingering threat to reintroduce that the country is pursuing its own international payment mechanism: "Since 2014, Russia has been working on its own payment system. This system already exists," he said.
"We all use the MIR card. It is also accepted in a number of neighboring countries and in Turkey. Negotiations are also underway with other partners," he explained.
In recent years Russia has pursued talks with other countries - notably China, India, Iran and Turkey - over establishing major alternatives to the Belgium-based SWIFT system. It began pursuing alternatives in earnest particularly after it was hit with Western-led sanctions after 2014, and is more recently said to be experimenting with blockchain-based solutions.
It was only in late April that European lawmakers passed a resolution which enabled future severe retaliatory measures if Russia takes offensive actions against neighboring Ukraine, including booting the country from SWIFT.
Earlier that same month, just after new US sanctions were rolled out over alleged hacking and election interference, the Russian foreign ministry had highlighted the weakness of a system "controlled by the West". Spokeswoman Maria Zakharova said at the time, "Naturally, all this casts doubt on not only the expediency of using the American currency as a priority payment currency, but also the reliability of using payment mechanisms controlled by the West."
https://www.zerohedge.com/economics/russia-again-warns-swift-disconnection-real-possibility-sanctions-spiral