Wednesday, May 18, 2016
Saudi Arabia Admits To A Full-Blown Liquidity Crisis: Will Pay Government Contractors With IOUs, Debt
Previously we documented that as a result of the still low oil prices, largely a result of Saudi Arabian strategy to put high cost producers out of business and to remove excess supply, none other than Saudi Arabia has been substantially impacted, with the result being dramatic state budget, a sharp economic slowdown and mass worker layoffs.
Just three weeks ago we reported that the biggest construction conglomerate in the middle east, the Saudi Binladin Group had announced it would layoff 50,000 workers ot a quarter of its workforce, slammed by the weak economy.
Now, Saudi Arabia has admitted that in addition to acute economic problems, which will manifest themselves most directly in a soaring Saudi debt load...
... and rising default risk...
... Saudi Arabia can also add liquidity worries which just spilled out into the open, because Bloomberg reported moments ago, Saudi Arabia has told banks it is considering paying some outstanding bills to contractors with government-issued bonds, citing people with knowledge of matter say.
Contractors would be able to hold bond-like instruments until maturity.
Bloomberg adds that issuing bonds is one of several options being considered.
Contractors so far received some payments of outstanding bills from government in cash.
Saudi Arabia’s finance ministry declines to comment, while central bank didn’t immediately return calls seeking comment
What this means is simple: as a result of the budget imbalance driven by low oil prices, largely a Saudi doing, the kingdom is forced to give workers an implicit pay cut. It also means that since the government has to "pay" through the issuance of debt, that the liquidity crisis in the kingdom is far worse than many had anticipated.
Which brings up the question of devaluation: how long until the SAR has to follow the Yuan and see a substantial haircut. According to the market, 12 month SAR forward are now trading at a price which implies a 12% devaluation in the coming months.
When that happens is, of course, up to the King Salman.
What it also means is that as Saudi Arabia is now scrambling to generate any incremental cash, it too wil be caught in the deflationary spiral of excess production as it will have no choice but to outsell its competitors, especially those rushing to grab Chinese market share such as Russia, as it seeks to make up with volume what it has lost due to lower prices. It also means that any hopes of a production freeze by Saudi Arabia - and thus OPEC - are hereby snuffed for the indefinite future.
Credit to Zero Hedge
In other words, PreCheck has been in a failure. Not enough Americans have been willing to make themselves “known” to FedGov and Homeland Security, and now the epic inefficiency of the TSA - and the government - has been fully exposed.
Meanwhile, the nightmare lines continue, perhaps nowhere more so than at America's already busiest airport, Chicago's O'Hare.
As NBC writes, the Transportation Security Administration is flooding Chicago's O'Hare International Airport with more staff and resources after hundreds of passengers were stranded as their planes took off while they waited in line, local and federal authorities said Tuesday.
TSA Administrator Peter Neffenger apologized at a travel conference Tuesday in Houston to the more than 450 passengers who didn't make it onto their flights overnight Sunday and Monday as the security screening lines crept along at O'Hare.
"We had a significant challenge in Chicago yesterday," Neffenger said. "I don't know what that was, but fixing that, that is of great concern to me. I always tell people I won't apologize for doing our job well, but I do apologize to the people who found themselves stranded in Chicago yesterday," Neffenger said.
Neffenger and his boss, Homeland Security Jeh Johnson, promised Chicago Mayor Rahm Emanuel on Tuesday that more than 300 extra TSA officers will be assigned to Chicago's airports by mid-August — 58 of them within the next three weeks.
Even Rahm chimed in: "The TSA wait times at Chicago's airports have been unacceptable," Emanuel said. "There is no excuse for passengers to wait in line for hours." Well, there is. It's called "the government."
Other measures that Emanuel said the feds promised include the tripling of authorized overtime, the addition of at least five more canine teams and the diversion of operational experts to Chicago from airports around the country.
But that wasn't good enough for Sen. Mark Kirk, R-Illinois. "The flying public is experiencing a high security risk and economic burden from unnecessary wait times and missed flights due to insufficient staffing at TSA," Kirk said in a statement Tuesday.
"If travelers do not have relief by Memorial Day, TSA Administrator Neffenger must resign and be replaced with a leader who can provide fast and secure screening."
The TSA confirmed the reallocations to NBC News on Tuesday evening. They're among the first new measures among a long list of fixes that Johnson, the Homeland Security secretary, outlined at a news briefing — including the hiring of more than 750 new screening officers across the country.
Among the measures likely to be most controversial, the TSA will also strongly encourage airlines to find ways to reduce the size and number of carry-ons, the screening of which Johnson said "has a lot to do with the wait time."
In other words, put all the onus on the passengers, not those staffed with fixing the problem.
Even the White House weighed in, as press secretary Josh Earnest acknowledged that Chicago screeners face a "significant challenge." "They don't want to inconvenience people," Earnest said at the daily White House news briefing. But aviation officials "want to make sure [people] they can engage in travel safety."
Meanwhile, as the fingerpointing continues and accusations fly, expect many more images such as this one and thousands of furious travellers stuck in lines for hours and hours.
Credit to Zero Hedge
In a large scale study of more than 2,000 people, British boffins confirmed that thoughts DO carry on after the heart stops.
The shock research has also uncovered the most convincing evidence of an out of body experience for a patient declared dead.
It had been believed the brain stopped all activity 30 seconds after the heart had stopped pumping blood around the body, and that with that, awareness ceases too.
However, the study from the University of Southampton shows people still experience awareness for up to three minutes after they had been pronounced dead.
Lead researcher Dr Sam Parnia said: "Contrary to perception, death is not a specific moment but a potentially reversible process that occurs after any severe illness or accident causes the heart, lungs and brain to cease functioning.
"If attempts are made to reverse this process, it is referred to as 'cardiac arrest'; however, if these attempts do not succeed it is called ‘death’."
Of the 2,060 patients from Austria, the US and the UK interviewed for the study who had survived cardiac arrest, almost 40 per cent said that they recall some form of awareness after being pronounced clinically dead.
Dr Parnia continued: "This suggests more people may have mental activity initially but then lose their memories after recovery, either due to the effects of brain injury or sedative drugs on memory recall.”
GETTYMany patients reported an outer body experience
Of those who said they had experienced some awareness, just two per cent said their experience was consistent with the feeling of an outer body experience – where one feels completely aware and can hear and see what’s going on around them after death.
Almost half of the respondents said the experience was not of awareness, but rather of fear.
However, the most significant finding of the study is that of a 57-year old man who is perhaps the first confirmed outer body experience in a patient.
The man was able to recall with eerie accuracy what was going on around him after he had ‘died’ temporarily.
Dr Parnia continued: "This is significant, since it has often been assumed that experiences in relation to death are likely hallucinations or illusions occurring either before the heart stops or after the heart has been successfully restarted, but not an experience corresponding with 'real' events when the heart isn't beating.
"In this case, consciousness and awareness appeared to occur during a three-minute period when there was no heartbeat.
“This is paradoxical, since the brain typically ceases functioning within 20-30 seconds of the heart stopping and doesn't resume again until the heart has been restarted.
“Furthermore, the detailed recollections of visual awareness in this case were consistent with verified events."
Credit to the Express
The Goals of Satanists
The Rise of Robotics and The Dehumanization of Man
Why Did God Make Us?
When dozens of women came forward to accuse Bill Cosby of rape, most Americans believed them, so why is Bill Clinton getting a free pass when a similar number of women are accusing Bill Clinton of sexual misconduct? As you will see below, new allegations continue to come out, and it has become exceedingly clear that Clinton is still chasing women that he is not married to even though his wife is in the middle of a presidential campaign.
Of course Hillary Clinton knows exactly what is going on, and she has been serving as his enabler by doing all that she can to cover up Bill’s escapades whenever one of these “bimbo eruptions” happens. Ultimately, Bill and Hillary Clinton have together victimized countless numbers of women, and yet public opinion polls continue to show that most women voters plan to vote for Hillary Clinton in November. It is hard even for me to believe that our country has sunk so low at this point.
This list of Bill Clinton’s accusers is seemingly endless: Kathleen Willey, Connie Hamzy, Juanita Broaddrick, Eileen Wellstone, Sandra Allen James, Christy Zercher, Paula Jones, Monica Lewinsky, Gennifer Flowers, Elizabeth Ward Gracen, Sally Perdue, Lencola Sullivan, Susie Whitacre, Bobbie Ann William, etc.
But now new information is coming to the surface. Just recently, one of Bill Clinton’s former lovers named Dolly Kyle has made global headlines by claiming that Bill Clinton is a “sex addict” that has had sex with approximately 2,000 women…
Hillary Clinton is not only an “enabler,” she is a “terrorist” who “terrorizes” her husband’s alleged lovers and women who accuse him of sexual assault, says Dallas lawyer Dolly Kyle, who says she had a long-running affair with Bill Clinton.In an interview, Kyle claimed that “Billy” Clinton, as she called him, once boasted to her that he had had sex with about 2,000 women. She described Clinton as a “sex addict” who has some “sick, sick need” to “control women.”
And Kyle is quite credible. She is an attorney, her family has ties to the Clinton family that go back to the 1970s, and she reportedly had an extramarital sexual affair with Bill that lasted for more than a decade…
ABC News previously summarized Kyle’s affair allegations (at the time she went by the name Dolly Kyle Browning):Browning says she went to high school with Bill Clinton… in Hot Springs, Ark. in the 1960s. She alleged she became friends with the future president and carried on an extramarital sexual affair with him from the mid-1970s until roughly 1991.Kyle’s family has long been intertwined with the Clinton’s, she says. Her brother was a Clinton associate who helped campaign for Bill Clinton from the 1970’s through his presidential run and even flew him to multiple events in the 1970’s, Kyle stated.Kyle is the author of the forthcoming book, “Hillary the Other Woman: A Political Memoir.” The book’s forward is written by David P. Schippers, an attorney who served as chief investigative counsel for the U.S. House Judicial Committee for the Clinton Impeachment.
To me, it is amazing that what we already know about the Clintons has not completely ended both of their political careers. What they have been able to collectively get away with is absolutely incredible.
And because nobody ever holds them accountable, they just continue to engage in the exact same behaviors.
For instance, even though Bill knew that Hillary would be running for president, he has continued to engage in very high risk behavior. The following comes from the New York Post, and it is about one of Bill’s new “friends” known as “the Energizer”…
Secret Service agents were even given special instructions to abandon usual protocol when the woman came by, according to journalist Ronald Kessler’s tell-all book, “The First Family Detail.”“You don’t stop her, you don’t approach her, you just let her go in,” says the book, based on agents’ accounts.
And it turns out that Bill Clinton’s foundation committed a major boo-boo by funneling two million dollars to a company that is partially owned by “the Energizer”…
Bill Clinton’s foundation arranged a $2 million pledge to a power company partly owned by a wealthy blond divorcée — who some say is the frequent visitor to his home nicknamed “Energizer.”The “commitment” to Julie Tauber McMahon’s firm from the Clinton Global Initiative was placed on its 2010 conference agenda at Clinton’s urging, the Wall Street Journal reportedon Thursday.
Meanwhile, it is being reported by Fox News that Bill Clinton took “at least 26 trips” aboard a private jet that was owned by a registered sex offender named Jeffrey Epstein that was widely known to be a pedophile…
Former President Bill Clinton was a much more frequent flyer on a registered sex offender’s infamous jet than previously reported, with flight logs showing the former president taking at least 26 trips aboard the “Lolita Express” — even apparently ditching his Secret Service detail for at least five of the flights, according to records obtained by FoxNews.com.Clinton’s presence aboard Jeffrey Epstein’s Boeing 727 on 11 occasions has been reported, but flight logs show the number is more than double that, and trips between 2001 and 2003 included extended junkets around the world with Epstein and fellow passengers identified on manifests by their initials or first names, including “Tatiana.” The tricked-out jet earned its Nabakov-inspired nickname because it was reportedly outfitted with a bed where passengers had group sex with young girls.
In addition, other evidence shows that Clinton and Epstein were extremely close. Court records show that Epstein had 21 different phone numbers for Clinton, and if Clinton ever engaged in sexual activity with any of Epstein’s underage girls, that would make him a sexual predator that should be in prison right now.
I don’t know how anyone can look at this growing body of evidence and not conclude that Bill Clinton is a monster.
And since Hillary Clinton has known exactly what has been going on this entire time and has done her best to cover up his crimes, that makes her a monster too.
But in the end, tens of millions of Americans will line up to vote for her in November.
We have become a nation that no longer has any moral foundation, and we will vote for just about anyone as long as they will give us what we want. As one anonymous member of Congress recently wrote, it is “far easier than you think to manipulate a nation of naive, self-absorbed sheep who crave instant gratification.”
Credit to End of the American Dream