from Judicial Watch: TRUTH LIVES on at https://sgtreport.tv/
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Wednesday, September 22, 2021
TREASURY DEPARTMENT SEEKS TO TRACK FINANCIAL TRANSACTIONS OF PERSONAL BANK ACCOUNTS OVER $600
from The Waking Times: In May, the Treasury Department released the Biden administration’s revenue proposals for fiscal year 2022. One aspect of this document that has gone under-reported is the administration’s new plan for reporting requirements for financial institutions. The document is unequivocal about the administration’s goal for financial reporting, stating, “this proposal would create a comprehensive […]
http://dlvr.it/S84V9P
http://dlvr.it/S84V9P
1 Teen Killed, 2 Wounded In Kentucky Bus Stop Shooting; Suspect Still At Large
1 Teen Killed, 2 Wounded In Kentucky Bus Stop Shooting; Suspect Still At Large
Three teens were shot and one was killed while waiting for the school bus in Louisville, Kentucky early Wednesday, according to police.
The students were waiting on a corner in the Russell neighborhood situated immediately west of downtown around 0630ET when an unidentified assailant in a vehicle drove by and opened fire, according to the Louisville Metro Police Department.
An aunt of the student who died - whose name hasn't been released because he is a minor - spoke to a local TV station.
"I mean, you all probably interview a lot of families who are like, 'I can't believe this happened.' You know, he didn't hurt nobody, he didn't do anything. They can be out in God knows what, but I'm telling you, my nephew wasn't. He didn't have that time on his hands," she said.
A second student, a 14-year-old boy, was taken to a hospital with non-life-threatening injuries, while the third, a 14-year-old girl, was grazed, police said, but was treated at the scene. All three students were all enrolled at Eastern High School in the Jefferson County public school district.
The two other students have sustained serious injuries.
Alert: Confirmed that 3 juveniles were shot this morning at a bus stop at W J Hodge and Chestnut Sts. #LMPD on scene and will update shortly. #LMPD — LMPD (@LMPD) September 22, 2021
Police say they're gathering leads and launching what will be a well-funded investigation into finding the culprit, but right now, whoever did it remains at large.
The shooting comes after a bomb threat incident required the evacuation of several schools in nearby Lexington. The threat came with a demand for a $500,000 payment in bitcoin. Tyler Durden Wed, 09/22/2021 - 13:03
http://dlvr.it/S84RWD
http://dlvr.it/S84RWD
Top Border Official Blasts Psaki - Says Admin Approved 'Twirling' Reins To Keep Migrants Away From Horses
Top Border Official Blasts Psaki - Says Admin Approved 'Twirling' Reins To Keep Migrants Away From Horses
A top Border Patrol official slammed the Biden administration over their kneejerk reaction to reports that border patrol agents in Del Rio, Texas have been "whipping" Haitian migrants who materialized roughly 1,800 miles from home across the Gulf of Mexico, where they've gathered in large numbers at the southern US border in recent days.
In two separate interviews, Border Patrol agent and head of the National Border Patrol Council, Brandon Judd singled out White House Press Secretary Jen Psaki for condemning the agents' conduct as "horrible to watch," and something "they should never be able to do again," accusing Psaki of "perpetuating the narrative that police are bad."
"There are very few things that will boil my blood as bad as the White House directly coming out and condemning an action before they know what happened," Judd told Just the News. "Jen Psaki came out yesterday, and she condemned these actions, when in reality, it is a legitimate law enforcement action. This was meant to protect the illegal aliens."
Judd explained agents are trained for crowd control by the Homeland Security Department to "twirl the reins" if humans start approaching their horses to keep them away from getting injured, and the reins are never used to strike or harm people.
"We have to keep those individuals away from the horses," he explained. "If they get too close to the horses, the horses could step on them and they could break bones. They could kick them. They can get kicked in the head. It could cause death. -JTN
"Nobody was hit by those reins; they are not whips. The reins are used to control the horses. And so the reins will be twirled to keep people away from the horses for their protection," Judd added, comparing Psaki's comments and corresponding coverage by the MSM to deceptive tactics used by liberal activists who want to defund the police.
"Of course, this is exactly how the defund police movement works," said Judd. "You take photos, you take a 15-second video of something that happened over a period of 10 minutes. And you take those very small clips, and you blow them up and say, 'Well, look what's happening.' When in reality it was a law enforcement movement that agents are trained to use the reins to keep people away, not hit people with those reins."
According to Judd, twirling of the reigns is standard practice.
"This is a training module that they set up, that they go through and they approve, and even this administration, every single administration, when they come in, they will look at all training that is being given, and they will decide whether the way they want to continue on with training," he said, adding "And this administration even decided that they would continue on with the training of using the reins, to keep people away from the horses for their own protection."
Judd told the Epoch Times that the White House is perpetuating a false narrative.
Misinformation
Judd said agents on horseback in the area have not been rounding up Haitian refugees with whips after they were accused of doing so by multiple media outlets and officials.
On Monday, Sawyer Hackett, executive director of People First Future, a political action committee set up by Democrat Julián Castro, went viral on Twitter when he shared photos of border patrol agents on horseback as they held their “whips” while Haitian refugees stood near them on foot.
Hackett wrote on Twitter, “This is unfathomable cruelty towards people fleeing disaster and political ruin. The administration must stop this.”
He also shared video footage showing border agents on horseback attempting to prevent migrants from wading back and forth across a river.
The post was quickly shared over 27,000 times, including by members of Congress Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Senator Jeff Merkley.
A report from the El Paso Times regarding the situation in Del Rio also went viral. An exert from it claims a border agent “swung his whip menacingly” at Haitian men who were trying to cross the river again after buying food and water in Ciudad Acuña, Mexico.
"That’s your ‘defund the police’ movement right there," Judd said of the video. "They only show a short segment of a video. The horse patrol agents under the administration are trained to ensure the safety of the migrants, to keep them away from the horses, because the horses can harm people—they can inadvertently step on them, they can rear up, they can kick them.
And so agents have to keep the migrants away from the horses for their own protection. And so they will use the reins, to twirl the reins, so that they will stay away from the horses. But they do not use those reins to lash out, to try to strike people. Those agents did not use those reins in any way, shape, or form to try to strike anybody."
More via The Epoch Times:
Judd added that the horses are also used as a “deterrent technique” to prevent illegal immigrants from coming into the United States.
The claims of whipping soon reached the White House, with press secretary Jen Psaki telling reporters during a briefing Monday, that she had seen some of the footage but didn’t yet have all the context.
“I can’t imagine what context would make that appropriate,” Psaki said. “But I don’t have additional details.”
When asked if the agents who were accused of whipping the Haitian immigrants should be fired, Psaki responded, “And, certainly—I don’t have additional context. I don’t think anyone seeing that footage would think it was acceptable or appropriate.”
Judd says Psaki ‘s comments were “horrific” and only serve to perpetuate the narrative that law enforcement is bad. “And that just feeds into the larger, very liberal, narrative of defund the police,” he said.
The head of the National Border Patrol Council said his agents also feel abandoned by the administration, noting that the Haitian camp has turned into a “warzone refugee camp” and pointing out a key difference between former President Donald Trump’s administration and the current Biden administration.
“They [border patrol agents] have been abandoned by the administration. I mean, I get that all the time. My agents are constantly reaching out to me asking, ‘Why isn’t this administration standing up and doing something to secure the border?’ ‘Why is this administration allowing cartels to have free rein of the border?’ ‘Why is this administration [doing nothing] when they said that they were going to have humane immigration practices? I don’t know,” Judd said.
“You tell me, does this look like it’s humane right here?” he asked standing in front of the Haitian camp.
“This looks like a warzone refugee camp. That’s what this looks like. And if anybody says that this is humane, I would love for them to come and explain to me how this, right here, is humane. But this is the Biden administration. This never happened with the Trump administration.” Tyler Durden Wed, 09/22/2021 - 12:25
http://dlvr.it/S84KQh
http://dlvr.it/S84KQh
Tuesday, September 21, 2021
FOMC To Provide "Advance Notice" For November Tapering; May Deliver Two Potential Hawkish Surprises
FOMC To Provide "Advance Notice" For November Tapering; May Deliver Two Potential Hawkish Surprises
At the conclusion of tomorrow's 2-day meeting, the FOMC is likely to provide the promised "advance notice" that tapering is coming, paving the way to announce the start of tapering at its November meeting, writes Goldman referencing a recent trial balloon by the WSJ which effectively reached the same conclusion.
As we reported last weekend, the bank's standing forecast is that the FOMC will taper at a pace of $15bn per meeting, split between $10bn in UST and $5bn in MBS, ending in September 2022, although one possible alternative is for the Fed to accelerate the pace of tapering and cut each month instead of each meeting, thereby concluding its bond buying by next July.
As Goldman's David Mericle writes, "while the start date now appears set, the pace of tapering is an open question.Our standing forecast is that the FOMC will taper at a pace of $15bn per meeting, split between $10bn in UST and $5bn in MBS, ending in September 2022. But a number of FOMC participants have called instead for a faster pace that would end by mid-2022, and we now see $15bn per meeting vs. $15bn per month as a close call."
Specifically, Goldman expects that the September FOMC statement will include language similar to that used in July 2017 to foreshadow the start of balance sheet normalization at the next meeting. For example, it might say something along the lines of, “The Committee expects to begin reducing the pace of its asset purchases relatively soon, provided that the economy evolves broadly as anticipated." Separately, Goldman does not expect the FOMC to reveal the pace this week, though the minutes to the September meeting might eventually provide a clue.
Moving down the list, the Fed's Summary of Economic Projections is likely to incorporate the recent stagflationary shifts in the economy, namely the large upside surprise to inflation and the large downside surprise to GDP growth over the last few months.
As Goldman shows in the chart below, the bank's 2021 GDP growth forecast has fallen over 2pp on a Q4/Q4 basis since June, and we expect the FOMC to cut its 2021 projection substantially as well.
Some more details here:
Exhibit 3 shows that our GDP growth forecast for 2021 on a Q4/Q4 basis—the measure that Fed officials include in their projections—has come down by over 2pp since the FOMC’s June meeting. Both the disappointment on 2021Q2 growth and our downgrade to our 2021Q3 tracking estimate largely reflect the impact of supply chain disruptions on US production, especially auto production, which has resulted in a large drawdown of inventory to meet current demand. The Delta variant has also weighed on further recovery in the service sector, though the August retail sales report suggests that the impact on total consumer spending is likely to be more limited than we had initially feared.
These delays in rebuilding inventory and reopening consumer services imply somewhat stronger growth in 2022, though the path forward for consumer spending now looks more difficult because government income support has dropped off and the remaining depressed service sectors, mainly very high-contact and office-adjacent services, are unlikely to recover rapidly during the winter virus season.
As for the Fed's core PCE inflation projection for 2022, it is expected to remain stable at 2.1% in keeping with the Fed's narrative of "transitory" inflation, with some participants forecasting greater inflation momentum into next year and others forecasting more payback for stretched prices this year (Goldman expects the core PCE path will peak at a slightly higher 2.2% further ahead).
Away from tapering, Goldman warns that the dots are an even closer call because a single participant could tip the balance upward relative to the bank's forecasts, which are shown in Exhibit 6. For 2022, only two participants would have to add a hike for the median to show a half-hike and three for the median to show a full hike. But the best guess here is that most of the potential marginal voters who could swing the balance are Governors at the Fed Board, and they are likely to join Chair Powell in submitting a no-hike baseline. After all, as Mericle notes, "it would be surprising if Powell showed a hike next year just weeks after his dovish speech at Jackson Hole reiterated his view that inflation pressures are likely to be transitory."
In light of the above, Goldman expects the median dot to show no hikes in 2022, 2 hikes in 2023, and 3 hikes in 2024, anticipating that a quarterly pace of tightening back toward the neutral rate will be appropriate if everything goes well. While this would put the dots well above market pricing, Goldman does not expect much of a market reaction because the dots are a modal forecast corresponding to an economic baseline in which most participants will assume that the conditions for tightening will be met. They are not directly comparable to market pricing, a probability-weighted mean of a range of scenarios, including many in which the Fed would not hike. Moreover, Goldman rates strategists recently showed that markets have tended to put little weight on the Fed’s three year ahead dots in the past.
In a similar vein, Standard Chartered's Steven Englander writes overnight that he expects seven FOMC participants to indicate two 25bps hikes in 2022 – five a single hike and six no hikes. The median is a single 2022 hike, but with a hawkish lean given so many participants pointing to two hikes. There is a risk that the hawkish 2022 skew could be even more pronounced, "but we do not think the 2022 dots will show a two-hike median. We estimate that about 18bps is priced by end-2022, somewhat low given what we expect"
While Goldman is generally sanguine about tomorrow's FOMC, the banks concedes the bank catuions that risks to its expectations are tilted in a hawkish direction (more below). Some Fed officials have expressed greater concern about inflation recently, reflecting stronger wage pressures, increases in some short-term measures of inflation expectations, and the possibility that supply chain disruptions could last well into next year, as even the Fed realizes that inflation at this point is anything but "transitory."
The two most likely hawkish risks according to Goldman would be
* if the FOMC reveals next week that it intends to taper at a faster pace or
* if the 2022 median dot shows a hike.
However, client surveys suggest that the majority do not view either of these as the base case, meaning that either would be hawkish surprises to current market expectations, prompting a selloff and as everyone knows, that's what the Fed will avoid at all costs. The Fed leadership has historically preferred to avoid delivering hawkish surprises at FOMC meetings to the extent that it can, preferring the information to be priced in advance (like it did with the WSJ leak last weekend). While the dots are sometimes out of the leadership’s control, in this case we think it can probably prevent either of these two potential hawkish surprises from materializing this week. Tyler Durden Tue, 09/21/2021 - 13:53
http://dlvr.it/S80tCc
http://dlvr.it/S80tCc
Stellar 20Y Auction Thanks To Second Highest Indirects On Record
Stellar 20Y Auction Thanks To Second Highest Indirects On Record
With Treasury yields resuming their slide this week on the back of Monday's sharp risk-off sentiment, and today's surprise reversal which sent yields back to unchanged even as stocks rebounded, there were some concerns today's 20Y auction (technically a 19-year-11-month reopening) would face some demand challenges. It did not, and in fact demand for today's $24 billion offering was one of the strongest since this auction was introduced last May.
Starting at the top, the high yield of 1.795% stopped through the When Issued 1.797% by 0.2bps. It was the lowest yield for the tenor since January's 1.643%, and well below last month's 1.850%.
The bid to cover of 2.36 was slightly below last month's 2.44, and just below the recent, six-auction average of 2.39.
The internals were more solid, with Indirects at 64.2% taking down the most since July 2020 and the second highest on record. Directs took down 18.9%, or in line with the recent average of 19.1% leaving Dealers holding 16.9%.
Overall, a remarkably solid 20Y auction made possible by near-record foreign demand, and indicates that nobody is worried about any hawkish surprises out of the Fed tomorrow.
Tyler Durden Tue, 09/21/2021 - 13:18
http://dlvr.it/S80mc4
http://dlvr.it/S80mc4
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