Bank Of America Begins 66-Day Countdown Until The Terrible Ghost Of 1937 Returns

In 66 trading days on September 17, 2015, the Federal Reserve will, according to Bank of America, hike rates for the first time since 2006, which according to BofA will “end the era of excess liquidity.”

We disagree entirely, but let’s hear what BofA’s Michael Hartnett has to say:

On September 17th the Fed will hike the Fed funds rate by 25bps according to Ethan Harris & our US economics team, the first hike since June 2006.

Obama’s Anti-Russia Policy Escalates: DoD Tells Congress Nukes Are Still On The Table

Submitted by Justin Raimondo via AntiWar.com,

The War Party is a veritable propaganda machine, churning out product 24/7. Armed with nearly unlimited resources, both from government(s) and the private sector, they carpet-bomb the public with an endless stream of lies in order to soften them up when it’s time to roll. In the past, their job has been relatively easy: simply order up a few atrocity stories – Germans bayoneting babies, Iraqis dumping over babies in incubators – and we’ve got ourselves another glorious war. These days, however, over a decade of constant warfare – and a long string of War Party fabrications – has left the public leery.

And that’s cause for optimism. People are waking up. The War Party’s propaganda machine has to work overtime in order to overcome rising skepticism, and it shows signs of overheating – and, in some instances, even breaking down.

One encouraging sign is that the Ukrainian neo-Nazis have lost their US government funding …

In a blow to the “let’s arm Ukraine” movement that seemed to be picking up steam in Congress, a resolution introduced by Rep. John Conyers (D-Michigan) and Rep. Ted Yoho (R-Florida) banning aid to Ukraine’s Azov Battalion, and forbidding shipments of MANPAD anti-aircraft missiles to the region, passed the House unanimously.

This is significant because, up until this point, there has been no recognition in Washington that the supposedly “pro-democracy” regime in Kiev contains a dangerously influential neo-Nazi element.

As I reported early on, Ukraine’s ultra-nationalists – who openly utilize wartime Nazi symbols and regalia, and valorize Stepan Bandera, the anti-Soviet guerrilla leader who collaborated with the Third Reich – were the muscle behind the movement that pushed democratically elected President Viktor Yanukovich out of power. With the rebellion in the east, the paramilitary militias of the far right have been officially incorporated into the Ukrainian army: Dmytro Yorash, the leader of Right Sector and a member of parliament, is an aide to Viktor Muzhenko, the supreme commander of the Ukrainian military, and Right Sector – an openly neo-Nazi organization – has been officially integrated into the armed forces.

The Conyers-Yoho amendment won’t stop Ukraine’s neo-Nazis from feeding at the US-provided trough, but, hey, it’s the thought that counts. They’ll just abandon their independent existence and blend into the official military, effectively going underground, just as they did in the last Ukrainian elections, where fascists like Yarosh won a seat in the parliament with the tacit support of the “mainstream” parties, which withdrew their candidates in his district: Adriy Biletsky, commander of the Azov Battalion, enjoyed a similar advantage. Open fascists hold prominent positions in the Ukrainian government, the military, and the police.

Vadim Troyan, the deputy leader of the Azov Battalion, is now the regional chief of the Kiev district police, and fascists have the run of the city. The perpetrators of an arson fire at a Kiev theater that sponsored a gay film festival were charged with “disturbing the peace” and let off with a light sentence – and the theater was held responsible for not providing enough security! “I think the government prosecutor and those who are prosecuted are playing for the same team,” says one activist, and this is quite true: the fascists permeate the Kiev regime from top to bottom. When gay activists announced a Gay Pride march, the Mayor of Kiev said he couldn’t – or wouldn’t – guarantee their safety and asked them to cancel it. What was an open invitation to violent thugs was accepted when dozens of Right Sector stormtroopers attacked the procession, which ended the event after thirty bloody minutes.

As the Kiev regime shows its true colors, its most fervent backers are forced to acknowledge its shortcomings. Yes, even our UN Ambassador, Samantha “responsibility to protect” Power …

In a recent speech delivered in Kiev, Ambassador Power made oblique reference to the embarrassing slip ups on the part of our sock puppets in Kiev, gently scolding them to be more … discreet. Citing Abraham Lincoln, she urged Ukrainians to listen to “the better angels of our nature,” and averred that “Ukraine is stronger” when it does so:

“It means that Ukraine should zealously protect freedom of the press, including for its most outspoken and biased critics – indeed, especially for its most outspoken and biased critics – even as the so-called separatists expel journalists from the territory they control, and even as Russia shutters Tatar media outlets in occupied Crimea. It means that politicians and police across the country should recognize how crucial it is that people be able to march to demand respect for LGBT rights and the rights of other vulnerable groups without fear of being attacked.”

Citing Lincoln while calling for press freedom is a bit problematic – Abe shut down “treasonous” newspapers and jailed his more vociferous critics, but, hey, Power probably figured the Ukrainians aren’t up on the details of Civil War history, so what the heck. As the US continues to pump money – and weaponry – into the country, they’ll listen politely to Power’s lectures, and laugh all the way to the bank.

Amid all the publicity given to ISIS and the rise of its “caliphate,” the volatile condition of the Balkans has remained in the shadows. Yet the US, while sending only a few hundred “advisors” to Iraq, is sending a huge shipment of tanks and other heavy weaponry to nearly every country in Eastern Europe – enough to equip 5,000 American troops.

Ostensibly proposed in response to a nonexistent Russian “threat” to invade its Baltic neighbors, and/or Ukraine, this represents a significant escalation of the new cold war. And if the tanks are already on the ground, you can bet the troops won’t be long in coming. As NATO James Stavridis put it: “It provides a reasonable level of reassurance to jittery allies, although nothing is as good as troops stationed full-time on the ground, of course.”

And we aren’t just talking about troops here: the Pentagon is also considering stationing nuclear missiles alongside them.

The US is playing a dangerous game of nuclear brinkmanship. Robert Scher, undersecretary of defense, has even floated the idea of a nuclear first strike against Russia. Claiming that Russia has violated the INF Treaty by testing a banned ground-launched cruise missile, Scher laid out possible options in testimony before Congress:

“Robert Scher, assistant secretary of defence for strategy, plans and capabilities, told politicians in April that one option could be to beef up defenses of potential targets of the Russian cruise missile.

Saudi Arabia Opens Stock Market To Foreign Investment Amid Low Oil Prices, Yemen War

Saudi Arabia officially opened its stock market to foreign investment on Monday, in what’s being billed as a potential game changer for emerging markets investors. The country’s Capital Markets Authority finalized the rules for direct foreign investment in early May, although plans had been in the works for quite some time. Summarizing, qualified foreign investors (QFIs) are defined as institutions with at least $5 billion in AUM and five years of experience, no QFI can hold more than 5% of a single issue and no consortium of QFIs can hold 20% or more in a single stock.

China Mocks G7 As “Gathering Of Debtors”, Warns “Confrontation Will Be A Disaster For Europe”

Vladimir Putin didn’t get an invite to the Angela Merkel-hosted G7 Summit in Bavaria last week, which means the Russian President not only missed out on two days at the scenic Castle Elmau, but also on lederhosen shopping with US President Barack Obama who, judging from eyewitness accounts and a variety of amusing photo ops, channeled his inner Clark Griswold upon touching down in the Bavarian town of Krun.

Consumers Are Not Following Orders

Submitted by Jim Quinn via The Burning Platform blog,

Last week the government reported personal income and spending for April. After months of blaming non-existent consumer spending on cold weather, shockingly occurring during the Winter, the captured mainstream media pundits, Ivy League educated Wall Street economist lackeys, and Keynesian loving money printers at the Fed have run out of propaganda to explain why Americans are not spending money they don’t have. The corporate mainstream media is now visibly angry with the American people for not doing what the Ivy League propagated Keynesian academic models say they should be doing.

The ultimate mouthpiece for the banking cabal, Jon Hilsenrath, who does the bidding of the Federal Reserve at the Rupert Murdoch owned Wall Street Journal, wrote an arrogant, condescending, putrid diatribe, directed at the middle class victims of Wall Street banker criminality and Federal Reserve acquiescence to the vested corporate interests that run this country. Here are the more disgusting portions of his denunciation of the formerly middle class working people of America.

We know you experienced a terrible shock when Lehman Brothers collapsed in 2008 and your employer responded by firing you.

We also know you shouldn’t have taken out that large second mortgage during the housing boom to fix up your kitchen with granite counter-tops.