90 Miles From Tyranny

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Tuesday, September 20, 2016

Border Patrol Agents Nab Previously-Deported Sex Offender

U.S. Border Patrol agents working out of the El Centro Station in California arrested a previously-deported sex offender shortly after he crossed the border illegally.

The agents observed a man running northward from the International Border fence about 8 miles west of the Calexico Port of Entry on September 15. Agents moved quickly to apprehend the suspected illegal immigrant. They quickly determined he had, in fact, just crossed the border illegally, according to information obtained by Breitbart Texas from U.S. Customs and Border Protection officials. The man was arrested and taken to the El Centro Station where he was processed.

During a records check on the illegal immigrant, agents determined the man was a previously convicted sex offender. The 41-year-old Guatemalan had been deported in 2011 following a conviction for Criminal Sexual Contact-First-Degree-Penetration. He was sentenced to spend 8 years in prison, officials stated.

The man was processed and turned over to Immigration and Customs Enforcement where he will be referred to the Department of Justice for possible prosecution for...

Obama Admin ‘Laundered’ U.S. Cash to Iran Via N.Y. Fed, Euro Banks

A member of the House Intelligence Committee is accusing the Obama administration of laundering some $1.7 billion in U.S. taxpayer dollars to Iran through a complicated network that included the New York Federal Reserve and several European banks, according to conversations with sources and new information obtained by the lawmaker and viewed by the Washington Free Beacon.

New disclosures made by the Treasury Department to Rep. Mike Pompeo (R., Kan.), a House Intelligence Committee member, show that an initial $400 million cash payment to Iran was wired to the Federal Reserve Bank of New York (FRBNY) and then converted from U.S. dollars into Swiss francs and moved to an account at the Swiss National Bank, according to a copy of communication obtained exclusively by the Free Beacon.

Once the money was transferred to the Swiss Bank, the “FRBNY withdrew the funds from its account as Swiss franc banknotes and the U.S. Government physically transported them to...

Morning Mistress

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Monday, September 19, 2016

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China's Banking Crisis Threatens The Entire World's Financial Systems...

China has failed to curb excesses in its credit system and faces mounting risks of a full-blown banking crisis, according to early warning indicators released by the world’s top financial watchdog.

A key gauge of credit vulnerability is now three times over the danger threshold and has continued to deteriorate, despite pledges by Chinese premier Li Keqiang to wean the economy off debt-driven growth before it is too late.

The Bank for International Settlements warned in its quarterly report that China’s "credit to GDP gap" has reached 30.1, the highest to date and in a different league altogether from any other major country tracked by the institution. It is also significantly higher than the scores in East Asia's speculative boom on 1997 or in the US subprime bubble before the Lehman crisis.

Studies of earlier banking crises around the world over the last sixty years suggest that any score above ten requires careful monitoring. The credit to GDP gap measures deviations from normal patterns within any one country and therefore strips out cultural differences.

It is based on work the US economist Hyman Minsky and has proved to be the best single gauge of banking risk, although the final denouement can often take longer than assumed. Indicators for what would happen to debt service costs if interest rates rose 250 basis points are also well over the safety line.

China’s total credit reached 255pc of GDP at the end of last year, a jump of 107 percentage points over eight years. This is an extremely high level for a developing economy and is still rising fast .

Outstanding loans have reached $28 trillion, as much as the commercial banking systems of the US and Japan combined. The scale is enough to threaten a worldwide shock if China ever loses control. Corporate debt alone has reached 171pc of GDP, and it is this that is keeping global regulators awake at night.



The BIS said there are ample reasons to worry about the health of world’s financial system. Zero interest rates and bond purchases by central banks have left markets acutely sensitive to the slightest shift in monetary policy, or even a hint of...

Stopping Hillary Is A Short-Term Solution...