Venezuela heading for 1,000,000% hyperinflation – IMF

Venezuela is facing one of the worst hyperinflationary crises in modern history, according to the International Monetary Fund (IMF).

It expects the country’s economy to contract by 18 percent this year amid falling oil production – the third consecutive year of double-digit declines, and three points worse than projected in May.

“We are projecting a surge in inflation to 1,000,000 percent by end-2018 to signal that the situation in Venezuela is similar to that in Germany in 1923 or Zimbabwe in the late 2000s,” said Alejandro Werner, head of the IMF’s Western Hemisphere Department.

Venezuela will refine gold in Turkey to protect reserves from US sanctions https://t.co/WWMFVSVCibpic.twitter.com/Nt8SBfPDQK

— RT (@RT_com) July 20, 2018

He also pointed to “economic distortions,” including printing money to finance the government.

“We expect the government to continue to run wide fiscal deficits financed entirely by an expansion in base money, which will continue to fuel an acceleration of inflation as money demand continues to collapse,” said Werner.

One million Venezuelan bolivar is today worth just over $8.

According to Werner, the fact that tens of thousands of Venezuelans have fled the country to escape the crisis will have an impact on neighboring economies.

OPEC data shows Venezuelan oil production crashed to a new 30-year low of 1.5 million barrels a day in June, even though the country has the world’s largest reserves of crude. Venezuela earns 96 percent of its revenue through oil sales.

Venezuela's oil-backed cryptocurrency will be convertible to Russian rubles – Maduro https://t.co/9TbHG1zsNF

— RT (@RT_com) March 24, 2018

President Nicolas Maduro says the country is the victim of an “economic war” waged by the United States. In February, he launched the so-called petro digital currency backed by the concrete assets of Venezuela’s oil and other natural resources. It was launched explicitly to circumvent US sanctions against state oil company PDVSA. Maduro has also announced another virtual token, the ‘petro oro,’ which will be backed by the country’s precious metals.

https://www.rt.com/business/434082-venezuela-inflation-warning-imf/

Trump To Announce Multibillion Stimulus For Farmers

Earlier this month we reported that not everyone was happy with Trump's trade war, and as a result of plunging commodity prices, especially soy, one group emerged as especially hard hit by the administration's tariffs: farmers.

Two weeks ago, we quoted Casey Guernsey, a spokesman for Americans for Farmers and Families, who said that "China dealt its latest blow to American agriculture today with threats of even more tariffs on the horizon. Following Canada’s tariffs on U.S. products earlier this week, America’s farmers and families are staring down a dark path with no signs of relief in sight. We are counting on the administration and Congress to reach a resolution on responsible trade policies – before we’re forced to shut down our operations for good."

Many others joined in, begging the administration for relief: John Heisdorffer, a soybean grower from Keota, Iowa, and president of the American Soybean Association, said in a statement on the website:

"Soybeans are the top agriculture export for the United States, and China is the top market for purchasing those exports, The math is simple. You tax soybean exports at 25 percent, and you have serious damage to U.S. farmers."

Cheese producers were also hard hit, forced to discount their products to keep customers, with many putting orders put on hold and resulting in the biggest cheese inventory in US history.

"We have seen large drops in our dairy product sales prices at all levels," said Catherine de Ronde, economist for the Agri-Mark Inc. dairy cooperative. "It will create a significant backup of dairy products."

Iowa Senator Joni Ernst appeared on CBS' "Face The Nation" warning that: "farmer ranchers are “always the first to be retaliated against” in these types of “trade negotiations," adding that farmers have been put in “very vulnerable position.”

Meanwhile, Iowa Secretary of Agriculture Mike Naig said that "there are real issues in our trade relationship with China that need to be addressed, but Iowa agriculture cannot continue to bear the brunt of the retaliation from our trading partners."

In short, America's farmers were getting ever more angry with Trump's policies.

• • *

This morning, Trump responded and according to Politico "the Trump administration is planning to ease fears of a trade war by announcing later Tuesday billions of dollars in aid to farmers hurt by tariffs." The Washington Post puts a number to the aid: $12 billion.

Under the White House plan, the money will be disbursed in at least three ways, coming through direct assistance, a food purchase and distribution program, and a trade promotion program.

The plan, which has been in the works for months, seeks to ensure U.S. farmers and ranchers — a key constituency for President Donald Trump and Republicans — don’t bear the brunt of an escalating trade fight with China, the European Union and other major economies.

Trump, back in April, directed Agriculture Secretary Sonny Perdue to devise a plan to mitigate any financial damage to U.S. agricultural producers’ bottom lines that could result from the ongoing trade battles. But the administration has so far offered few details on the amount of aid that would be provided and how it would be distributed.

And since subsidies are merely another facet of trade warfare, expect China - which has also revealed similar subsidies to its own exporters - and especially Europe, to respond in kind shortly, as the tit-fof-tat global trade war continues.

https://www.zerohedge.com/news/2018-07-24/trump-announce-multibillion-stimulus-farmers

Tour de France interrupted when riders hit with tear gas as police break up farmers' protest

Four-time champion Chris Froome was among riders who had their eyes treated for tear gas when a farmer's protest interrupted the 16th stage of the Tour de France on Tuesday.

Police had to remove bales of hay blocking the road 30 kilometers into the 218-kilometer leg from Carcassonne to Bagneres De-Luchon. An Associated Press photographer saw Froome and other riders getting treated with eye drops while the peloton stopped for several minutes. Tear gas, used to disperse protesters by police, inadvertently got into the eyes of some riders.

"Looks like the tear gas used by the police on the farmers ended up getting to the eyes of some riders," tweeted the Quick-Step Cycling team.

This Tour has been marred by incidents as race organizers struggle to deal with angry fans protesting Froome's participation. After fans threw flares at riders in the climb to the ski resort of Alpe d'Huez, Tour organizers banned the use of smoke flares for the rest of the race.

https://www.latimes.com/sports/sportsnow/la-sp-tour-de-france-20180724-story.html

Ecuadorian president will not discuss Julian Assange case during UK visit

Ecuador’s president will not discuss the future of Julian Assange during a brief visit to the UK, it has been announced.

Lenin Moreno will address a Global Disability Summit in London on Tuesday, highlighting Ecuador’s progress on inclusion issues.

A statement issued on Monday made it clear the president will not address issues relating to the WikiLeaks founder, who has been living in Ecuador’s London embassy for over six years.

He fears being extradited to the United States if he leaves the building, for questioning over the activities of WikiLeaks.

Mr Assange has been granted political asylum by the Ecuador government, but his communication was cut off three months ago when he was accused of breaching a written commitment not to issue messages that might interfere with other states.

Ecuador said Tuesday’s summit is considered the first global celebration to recognise the achievements and rights of people with disabilities.

Mr Moreno, who uses a wheelchair after he was shot in an attempted robbery in 1998, will explain the work he developed between 2007 and 2013 as vice president of Ecuador, which earned him recognition worldwide, leading to his appointment as Special Envoy of the United Nations for disability and accessibility issues.

The summit, organised by the British Government in conjunction with the government of Kenya and the International Disability Alliance (IDA), will bring together more than 700 delegates from governments, private sector organisations, charities and people with disabilities.

Ecuador’s statement said: “It should be remembered that, in this international tour, the Head of State and his delegation will not address issues concerning the asylum granted to Mr Julian Assange, since its purpose is participation in the world meeting and the economic and commercial promotion of Ecuador in Spain, England and Scotland.”

The President will also travel to the University of Edinburgh, and later will talk with businessmen interested in investing in Ecuador.

He is not expected to visit Ecuador’s London embassy, scene of a vigil last month to mark the sixth anniversary of Mr Assange living there.

Ecuador said it will continue its position of talking and “promoting understandings” on Mr Assange’s asylum, adding there was no clear-cut short or long-term solution.

A briefing to MPs last month from one of Mr Assange’s legal team said the UK could resolve the impasse by providing a diplomatic assurance against US extradition.

“Mr Assange has made it clear he is happy to face British justice but not at the expense of facing American injustice,” said the briefing.

MPs were told that Mr Assange has been requesting an assurance from the UK that he would not be extradited to the US to face prosecution for his publishing activities with WikiLeaks.

“The UK’s failure to provide this assurance was the reason Mr Assange sought asylum in Ecuador’s embassy in 2012, the reason he was granted 1951 Convention refugee status by Ecuador and why he remains there today,” said the briefing.

UK diplomatic assurances would have “significant benefits” to the UK, including ending public spending on policing and surveillance, demonstrating the UK’s commitment to free speech and ending a longstanding diplomatic issue which has “disrupted” relations with Ecuador, it was said.

Mr Assange has been living under “harsh” conditions, with no access to sunlight or outdoor exercise, but things have worsened “dramatically” since his communications were cut, said the briefing, adding: “This situation is clearly untenable.”

International Development Secretary Penny Mordaunt will also address the summit.

Asked about the Assange case, a Downing Street spokeswoman said: “There are no plans for Penny Mordaunt to discuss that issue with the Ecuadorean president.”

https://www.dailymail.co.uk/wires/pa/article-5983011/Ecuadorian-president-not-discuss-Julian-Assange-case-UK-visit.html?ns_mchannel=rss&ito=1490&ns_campaign=1490

Manhattan U.S. Attorney Announces Money Laundering Charges Against Operators Of Nationwide Prostitution Enterprise And Seizure Of Online Escort Website

Geoffrey S. Berman, the United States Attorney for the Southern District of New York, and Angel M. Melendez, Special Agent in Charge of Immigration and Customs Enforcement’s Homeland Security Investigations in New York (“HSI”), announced today the arrest of BRANDON MARTIN and TAMEKO LINDO for money laundering and conspiracy to commit money laundering in connection with their ownership and operation of Flawless Escorts, a nationwide business offering prostitution services, as well as the seizure of Flawless Escorts’ website. MARTIN and LINDO will be presented today in Fort Lauderdale federal court.

U.S. Attorney Geoffrey S. Berman said: “As alleged, Brandon Martin and Tameko Lindo ran a nationwide prostitution ring, requiring their ‘employees’ to service as many as seven clients a day. However, the fatal flaw in Martin and Lindo’s alleged scheme was their underestimation of law enforcement’s ability to detect and halt their illicit activities.”

HSI Special Agent in Charge of Angel M. Melendez said: “In just under four years, these defendants are alleged to have secured more than three thousand hotel bookings to use in the furtherance of their prostitution scheme. In this case, members of HSI’s El Dorado Task Force were able to follow the money, tracking the advertising funds, payments and movement of dollars to locate the perpetrators, and they now face prosecutions for their actions.”

According to the allegations in the Complaint sworn out in Manhattan federal court:[1]

From 2014 to the present, MARTIN and LINDO have operated an online prostitution service through their website, www.flawlessescorts.com (the “Website”). As part of their prosecution business, MARTIN and LINDO arranged for escorts to travel throughout the United States to engage in prostitution, securing more than 3,000 hotel bookings under the names of various women. MARTIN and LINDO also required escorts to follow certain protocols when traveling on behalf of the Website, including an expectation that each escort would see a minimum of seven clients per day. MARTIN and LINDO also required escorts to deposit the proceeds of their commercial sex acts into a number of corporate and personal bank accounts that they controlled.

MARTIN and LINDO then used the proceeds of the prostitution scheme for personal gain and to further their illegal prostitution business. They paid, for example, over $180,000 from bank accounts under their control to advertise for the Website and to pay expenses of individual escorts.

• • *

MARTIN, 42, and LINDO, 38, of Parkland, Florida, are charged with one count of conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison, and two counts of money laundering, each of which carries a maximum sentence of 20 years in prison. The maximum potential sentences in this case are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge.

Mr. Berman praised the outstanding investigative work of HSI.

This case is being handled by the Office’s General Crimes Unit. Assistant United States Attorneys Tara M. La Morte and Kyle A. Wirshba are in charge of the prosecution.

The charge contained in the Complaint is merely an accusation, and the defendants are presumed innocent unless and until proven guilty.

https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-money-laundering-charges-against-operators-nationwide

Hearing on Elections Live now

https://oversight.house.gov/hearing/cyber-securing-the-vote-ensuring-the-integrity-of-the-u-s-election-system/

Let the unsealing begin!

Q !UW.yye1fxo ID: 6fa57d No.605129 📁

Mar 9 2018 18:25:15 (EST)

SEALS.

Where there was once darkness, there is now LIGHT.

Sea to shining sea.

Godspeed.

Q

Silence Is Golden - Coming to a theater near you. Down goes PedoWood

AMC Theaters: 1991 Introduces Clip®, a "film strip" character to serve as an ambassador of the brand and its Silence is Golden® program.