Vanguard To Liquidate And Shutter A U.S. Listed ETF For The First Time In Its History

Maybe this time, it is different…

Vanguard is shutting down and liquidating a U.S. listed exchange traded fund for the first time in the firm's history, according to a new report by Bloomberg on Monday.

The investment giant is going to be shuttering the $39.7 million Vanguard U.S. Liquidity Factor ETF (ticker VFLQ) in late November, according to the report. It is liquidating the fund because it has "not gained scale since its 2018 debut."

A company press release reads: "We continue to add new products that have investment merit and meet investors' preferences, change advisors and mandates to improve investor outcomes, and eliminate funds that lack a distinct role in investors' portfolios."

"Vanguard continues to believe in the long-term investment case for factor investing. Under the right circumstances, factor products may help investors achieve their financial goals," the release continued. "The firm's remaining U.S. factor products have a combined $3.4 billion in assets and continue to deliver value to a wide range of advisor and retail clients by employing a low-cost, rules-based, all-capitalization approach that provides investors with targeted factor exposure."

The company said that shareholders are being notified and have the opportunity to sell their shares prior to the ETF delisting from Cboe BZX Exchange, Inc. at the close of business on or about November 22, 2022.

The investment giant has $1.8 trillion in assets across 82 ETFs and has not shuttered a U.S. based ETF in the past.

VettaFi’s Dave Nadig told Bloomberg: “It’s not super surprising that they’d close the laggards down. As for why now? Nobody cares when you close products in a bear market.”

“If the K-Pop ETF and filings for double-levered AMC ETFs weren’t good enough indicators that the ETF market is getting oversaturated, then maybe this Vanguard news will send a clearer signal,” said Morningstar’s Ben Johnson.

https://www.zerohedge.com/markets/vanguard-liquidate-and-shutter-us-listed-etf-first-time-its-history

https://www.prnewswire.com/news-releases/vanguard-to-liquidate-us-liquidity-factor-etf-301633049.html

Shutdown Gets Closer with Lawmakers Struggling to Reach Deal

A government shutdown is becoming a real possibility. Congress has less than a week to come to an agreement on government funding as the funding will expire this Friday at midnight.

Lawmakers released a short-term stopgap bill that would keep the government funded until December 16. The Senate is expected to hold a procedural vote on Tuesday Night.

Senator Joe Manchin is reserving support for any democrat-led funding measure unless it includes oil and natural gas permitting reforms. Several Republican Senators are opposed to Joe Manchin’s energy plans being included in the stop-gap bill.

“If the Democrats insist on including permitting reform, I will oppose,” said Senator Richard Shelby.

The White House says this is not the first time the government faces shut-down, adding they believe it can be averted. The last government shutdown took place on December 22, 2018 until January 25, 2019.

https://www.oann.com/newsroom/shutdown-gets-closer-with-lawmakers-struggling-to-reach-deal/

"WE'RE RULED BY CLOWNS" Rand Paul UNLEASHES New FACTS on Nancy Pelosi

>>17592668

seems that way

Aus state media trying to justify META censorship

Russia's 'most-complex' disinformation push since Ukraine invasion taken down, Facebook owner says

https://www.abc.net.au/news/2022-09-28/largest-and-most-complex-russian-disinformation-network-disabled/101480408

Another cover up apparatus

The day has finally arrived: an Australian government today made good on its commitment to legislate an integrity watchdog, the National Anti-Corruption Commission (NACC). But there is one major bone of contention … secrecy.

Yes, it has broad powers, it is independent, retrospective: it promises procedural fairness and oversight, and it is reasonably well funded at $232m over four years. Yet, hearings will be held in private, at least most of them.

https://michaelwest.com.au/labor-delivers-national-anti-corruption-commission-nacc-with-secret-hearings/

>>17593054

>https://welovetrump.com/2022/09/27/utah-county-ritualistic-abuse-case-files/

Soon I will be posting a list alongside these statements of all 144 potential suspects and in which statements/pages they’re mentioned. For example, in “victim statement #4”, David Leavitt is mentioned three times on pages 30, 34, and 51. I will also be posting a list of places mentioned in the documents and in which statements/pages they’re mentioned.

Cashless debit card to be abolished, but a new income-management system will take its place for some

Thousands of Australians will begin moving off the controversial cashless debit card from next week, after amended legislation to abolish the card passed the Senate late last night.

Key points:

Legislation to abolish the cashless debit card passes in the Senate after a late-night sitting

From October 4, most people will be allowed to leave the program if they wish

For some, a new income-management system will take its place

From October 4, most people on the cashless debit card will be allowed to leave the program if they wish.

But tens of thousands of people, primarily in the Northern Territory, will continue to see their income managed for the foreseeable future.

The cashless debit card was introduced in 2016, and generally quarantines 80 per cent of a person's income so it cannot be spent on alcohol or gambling, or withdrawn in cash.

There are about 12,500 people currently on the card across four trial sites — East Kimberley and the Goldfields regions in WA, Ceduna in South Australia, and the Bundaberg-Hervey Bay region in Queensland.

From next Monday, they can opt-out of the cashless debit card program.

A further 4,300 people in the Northern Territory and Cape York will remain on the card, before a new compulsory income-management scheme is introduced next year.

https://www.abc.net.au/news/2022-09-28/cashless-debit-card-abolished-new-income-management/101480280

Leader of Sex Trafficking Ring Sentenced to 60 Years in Federal Prison, Ordered to Pay Over $14 Million in Restitution

https://www.justice.gov/usao-sdfl/pr/leader-sex-trafficking-ring-sentenced-60-years-federal-prison-ordered-pay-over-14

U.S. fines 16 Wall Street firms $1.8B for talking deals, trades on personal apps

The Securities and Exchange Commission today announced charges against 15 broker-dealers and one affiliated investment adviser for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications. The firms admitted the facts set forth in their respective SEC orders, acknowledged that their conduct violated recordkeeping provisions of the federal securities laws, agreed to pay combined penalties of more than $1.1 billion, and have begun implementing improvements to their compliance policies and procedures to settle these matters.

The following eight firms (and five affiliates) have agreed to pay penalties of $125 million each:

Barclays Capital Inc.;

BofA Securities Inc. together with Merrill Lynch, Pierce, Fenner & Smith Inc.;

Citigroup Global Markets Inc.;

Credit Suisse Securities (USA) LLC;

Deutsche Bank Securities Inc. together with DWS Distributors Inc. and DWS Investment Management Americas, Inc.;

Goldman Sachs & Co. LLC;

Morgan Stanley & Co. LLC together with Morgan Stanley Smith Barney LLC; and

UBS Securities LLC together with UBS Financial Services Inc.

The following two firms have agreed to pay penalties of $50 million each:

Jefferies LLC; and

Nomura Securities International, Inc.

Cantor Fitzgerald & Co. has agreed to pay a $10 million penalty.

“Finance, ultimately, depends on trust. By failing to honor their recordkeeping and books-and-records obligations, the market participants we have charged today have failed to maintain that trust,” said SEC Chair Gary Gensler. “Since the 1930s, such recordkeeping has been vital to preserve market integrity. As technology changes, it’s even more important that registrants appropriately conduct their communications about business matters within only official channels, and they must maintain and preserve those communications. As part of our examinations and enforcement work, we will continue to ensure compliance with these laws.”

The SEC staff’s investigation uncovered pervasive off-channel communications. The firms cooperated with the investigation by gathering communications from the personal devices of a sample of the firms’ personnel. These personnel included senior and junior investment bankers and debt and equity traders.

From January 2018 through September 2021, the firms’ employees routinely communicated about business matters using text messaging applications on their personal devices. The firms did not maintain or preserve the substantial majority of these off-channel communications, in violation of the federal securities laws. By failing to maintain and preserve required records relating to their businesses, the firms’ actions likely deprived the Commission of these off-channel communications in various Commission investigations. The failings occurred across all of the 16 firms and involved employees at multiple levels of authority, including supervisors and senior executives.

https://breaking911.com/u-s-fines-16-wall-street-firms-1-8b-for-talking-deals-trades-on-personal-apps/

We Must Take America Back Now! - Dr. Peter Navarro - SGT Report

https://www.bitchute.com/video/BRn5GbuCyujj/

Tucker Goes There – Suggests Joe Biden and US Behind Sabotage of Nord Stream Pipelines

On Tuesday night Tucker Carlson opened his show suggesting the US and Joe Biden was behind the terrorist attacks on the Nord Stream Pipelines.

https://www.thegatewaypundit.com/2022/09/boom-tucker-goes-suggests-joe-biden-us-behind-sabotage-nord-stream-pipelines/

DeSantis Team Hits Back After Biden Deems Vaccination a ‘Vital Part’ of Hurricane Prep

Florida Gov. Ron DeSantis’s (R) team on social media assured the Sunshine State that its officials are ready and willing to help all Floridians who will be impacted by Hurricane Ian, regardless of vaccination status, after President Biden deemed getting vaccinated a “vital part” of hurricane prep.

“Let me be clear. If you’re in a state where hurricanes often strike like Florida or the Gulf Coast or into Texas, a vital part of preparing for hurricane season is to get vaccinated,” Biden stated ahead of Hurricane Ian’s anticipated landfall on the west coast of Florida.

“Now, everything is more complicated if you’re not vaccinated in [sic] a hurricane or natural disaster hits,” he continued, making a bizarre connection between getting vaccinated and preparing for a massive storm:

The DeSantis War Room addressed Biden’s call for more vaccinations on Tuesday.

“This is a strange and puzzling assertion from @POTUS. Governor DeSantis and Florida’s world class emergency management & first responders are ready to help all Floridians impacted by #HurricaneIan, regardless of vaccination status,” it said:

It remains utterly unclear what getting vaccinated for the Chinese coronavirus — which Americans have had ample opportunity to do — has to do with preparing for a massive storm, which is expected to bring catastrophic flooding, “life-threatening storm surge,” and mass power outages across the state. Florida Gov. Ron DeSantis (R), who has held several press conferences on the storm, has made no mention of vaccines, as it has nothing to do with preparing for a massive hurricane.

Breitbart News reported:

“There’s still uncertainty with where that exact landfall will be, but just understand the impacts are gonna be far, far broader than just where the eye of the storm happens to make landfall,” he said, warning of “catastrophic flooding and life threatening storm surge.” He also noted that some have made comparisons to Hurricane Charley, which hit the state in 2004. However, while that hurricane was “powerful as a category four,” DeSantis explained that it was smaller and most of the damage was caused by wind. With this storm, Hurricane Ian, historic storm surge and flooding are the biggest concerns.

According to the NHC’s latest update at the time of this writing, Hurricane Ian has maximum sustained winds of 120 mph. Much of the state is now under a Tropical Storm Watch, Tropical Storm Warning, Hurricane Watch, and Hurricane Warning.

https://www.breitbart.com/politics/2022/09/27/desantis-team-hits-back-after-biden-deems-vaccination-vital-part-hurricane-prep/

Journalist Will Saletan Claims CitiBank Is Locking Some Customers Out Of Accounts Forever

Bulwark writer Will Saletan accused CitiBank of permanently locking some customers out of their bank accounts, even if they show up in person with an ID.

“Several weeks ago, I learned that [Citibank] locks some customers out of their accounts and refuses to release their money even if they show up with ID,” Saletan tweeted Monday. “This week, [Citi] sent an email explicitly affirming its right to do this ‘without cause.'”

“Your money is not safe at [Citi],” he added in the tweet.

Citi also “reserves the right to close an account at any time and for any reason, with or without cause,” the bank stated in an email response to Saletan after he reached out, according to the journalist’s Twitter thread. (RELATED: Citigroup Announces A Woman To Be Its Next CEO)

Saletan further accused Citi of bilking customers through apparently dishonest word choice. While the account closure procedure takes 30 to 60 days, those numbers apparently do not include the days the account is frozen prior to closure, Saletan alleged, citing Citi’s email response.

Citi will only return funds they “deem” as “belonging” to the customer, Saletan alleged in a subsequent tweet. “[Citi] reserves the right never to return the money,” according to Saletan.

https://dailycaller.com/2022/09/27/locking-customers-accounts-bank-journalist-citibank/

Xi Appears in Public, Dispelling Rumors of Unrest and Coup in China

Chinese communist leader Xi Jinping made his first public appearance in nearly two weeks, terminating an absence that fueled a storm of unsubstantiated rumors regarding his whereabouts.

Xi, who leads China as general secretary of the Chinese Communist Party (CCP), visited an exhibition in Beijing on Sept. 27, according to Chinese state-owned media.

The event was Xi’s first public appearance since returning to China from a summit of the Shanghai Cooperation Organization in Uzbekistan earlier in the month.

Xi had met with Russian President Vladimir Putin, an unofficial ally, during that summit. The two leaders reaffirmed their nations’ support for one another in the face of mounting resistance from the West regarding China’s plans for Taiwan and Russia’s war in Ukraine.

“The Chinese side is willing to work with the Russian side to continuously implement high-level strategic cooperation between the two countries, safeguard common interests, and promote the development of the international order in a more just and reasonable direction,” said CCP Politburo member Yang Jiechi in the lead-up to the meeting.

The trip was also Xi’s first excursion out of China since the COVID-19 pandemic began two years ago, and his subsequent disappearance upon returning to China spurred a maelstrom of rumors online.

Numerous Indian news outlets and pundits published unsubstantiated claims that Xi had been deposed by the Chinese military and placed under house arrest over the weekend. By Sept. 24, “Xi” was a top-trending topic on Twitter. His name appeared on hashtags more than 42,000 times, and the term “China coup” circulated more than 9,300 times.

Author and China expert Gordon Chang said that, despite the unsubstantiated nature of the claims, the unusual nature of Xi’s disappearance and continued irregularities in travel schedules within China pointed to some sort of intrigue within the upper echelons of CCP leadership.

“The lack of news from China over the last few hours suggests coup rumors are untrue, but whatever happened inside the Chinese military during the last three days—evidently something unusual occurred—tells us there is turbulence inside the senior CCP leadership,” Chang said in a tweet.

However, veteran journalist and China watcher Bill Gertz suggested that the misinformation could be a ploy designed to be used by intelligence agencies in China or elsewhere to monitor nations’ crisis response protocols.

“Setting off rumors of a coup against Xi Jinping in China would be an excellent way for an electronic spy service, E[ast] or W[est], to collect valuable intel on various governments’ crisis communications,” Gertz said in a tweet. “I bet watch teams are lit up tonight.”

Xi is expected to secure an unprecedented third term as CCP leader during the Party’s five-year congress in October.

https://www.ntd.com/xi-appears-in-public-dispelling-rumors-of-unrest-and-coup-in-china_847218.html