Russia Deploys Exotic New Weapon: A “Budget Surplus”

By John Rubino – Re-Blogged From Dollar Collapse

The price of oil is rising, which is obviously good news for those who sell it to the rest of us. Russia in particular seems to be enjoying the current trend, so much so that — if I’m understanding this correctly – Moscow is now receiving more in taxes than it’s spending. This is producing something called a “budget surplus,” which is a kind of currency war weapon that can be deployed to improve a country’s geopolitical position. Here’s a quick overview:

Russia To See Oil Revenues Jump Fivefold

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Making Travel Plans

By David Lieberman – Re-Blogged From Heartland Newsfeed

There are many decisions that you can expect to make in your travel plans. Sometimes that preparation is part of the fun of the trip. This article has many helpful hints and pointers on making traveling arrangements and plans to help you stay focused on the fun and less on the stress.

Before you go anywhere, check if you have any of those extra rewards miles on your credit card. These miles can really help you save money and you might not even know that you have all these reward miles on your car. So next you go anywhere, check your resources.

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Uncle Sam Issuing $300 Billion In New Debt This Week

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

US needs to borrow almost $300 billion this week alone
– This is the largest debt issuance since 2008 financial crisis
– Trump threatens trade war with its biggest creditor – China
– Bond auctions have seen weak demand due to large supply and trade war concerns
– $20 trillion mark reached in early September 2017; $1 trillion added in just 6 months
– US total national debt level now exceeds $21.05 trillion and is accelerating higher
– U.S. debt and dollar crisis coming which will propel gold higher (see chart)

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‘Nuclear Option’ to End Shutdown

By Associated Press – Re-Blogged From Newsmax

Feuding Democrats and Republicans in Congress are trying to dodge blame for a paralyzing standoff over immigration and showing few signs of progress on negotiations needed to end a government shutdown that stretched into a second day Sunday.

The finger-pointing played out in rare weekend proceedings in both the House and Senate, where lawmakers were eager to show voters they were actively working for a solution — or at least actively making their case why the other party was at fault. The scene highlighted the political stakes for both parties in an election-year shutdown whose consequences are far from clear.

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President Trump and Ambassador Haley Cut United Nations Funding by Almost $300 Million, Globalists Explode

Re-Blogged From iPatriot

U.S. Ambassador to the UN Nikki Haley is having the week of her career, and inspiring many patriotic Americans while she’s at it.

Haley has an undoubtedly difficult job.  Her role as a liaison between the increasingly populist Trump administration and the evermore globalism-based United Nations puts the ambassador between a rock and a hard place.  Filled with glass.  And bees.  Barefoot.

Trump Suggests Eliminating the Debt Ceiling – Dollar Falls

By Clint Siegner – Re-Blogged From Money Metals Exchange

Those who paid any attention to the financial press last week saw the following narrative; President Donald Trump betrayed Republicans by cutting a deal with Democrats Nancy Pelosi and Charles Schumer. They agreed to punt on the borrowing cap until December and spend $15 billion for hurricane relief.

Americans are supposed to conclude that Trump is flip-flopping, and that Republicans aren’t responsible. Dig just a little, and you’ll find only one of those things is true.

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Illinois Bankruptcy Acknowledged by the Mainstream Media

By Joe Scudder – Re-Blogged From Eagle Rising

The fact that Illinois bankruptcy is practically inevitable finally gets reported on.

There are signs of Illinois bankruptcy everywhere. The gridlock in the state legislature may be a cause of it, but it is more significant as a symptom. The Democrat-dominated system has broken down because there is no money left. The usual compromises don’t work anymore because they cost too much.

Another sign is that both Powerball and Mega Millions are halting business in Illinois because the state can’t afford to pay off winners. They’re afraid continuing in Illinois will wreck their reputations.

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America Needs a Debt Cut Before a Tax Cut

By Michael Pento – Re-Blogged From Pento Portfolio Strategies

President Donald Trump has finally unveiled his broad blueprint for tax reform. Well, at least let’s call it a sketchy outline of one. It would take the top income tax rate for small businesses from 35% to 15%. Theoretically, a business that makes $500k in taxable income, which had been paying roughly $175k in Federal taxes, would then pay closer to $75k. This means our business in this example, which saved 100k in Federal taxes, would have to grow its taxable income to $1,166.666, or by 133% to provide the government with revenue neutrality.

Even though Trump’s proposed tax plan offers more questions than answers, what is clear is that the administration is no longer working off the pretense that tax reform will seek revenue neutrality. Instead, it looks like Trump and the Republicans are leaning towards pretending that dynamic scoring of tax cuts will suffice for a revenue neutral plan.

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Damn The Deficits, Huge Tax Cuts Ahead!

By Peter Schiff – Re-Blogged From http://www.Silver-Phoenix500.com

Donald Trump has made good on one of his most audacious campaign promises by submitting what he describes as the biggest tax cut in U.S. History. For once, at least, this does not appear to be Trumpian braggadocio. It really may be the mother of all tax cuts. But if passed, what may this bunker buster do to the economy? While I have rarely met a tax cut I didn’t like, this one just may be more likely to send the economy into a downward spiral than it is to send up to orbit.

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To Protect Climate Money, Obama Stashed It Where It’s Hard to Find

By Christopher Flavelle – Re-Blogged From http://www.Bloomberg.com

  • Obama’s aides spread money across the government, eluding cuts
  • Most recent estimate puts tab at $77 billion from 2008-2013

What to Expect From Trump on Climate Change

President Donald Trump will find the job of reining in spending on climate initiatives made harder by an Obama-era policy of dispersing billions of dollars in programs across dozens of agencies — in part so they couldn’t easily be cut.

There is no single list of those programs or their cost, because President Barack Obama sought to integrate climate programs into everything the federal government did. The goal was to get all agencies to take climate into account, and also make those programs hard to disentangle, according to former members of the administration. In some cases, the idea was to make climate programs hard for Republicans in Congress to even find.

“Much of the effort in the Obama administration was to mainstream climate change,” said Jesse Keenan, who worked on climate issues with the Department of Housing and Urban Development and now teaches at Harvard University. He said all federal agencies were required to incorporate climate-change plans into their operations.

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2017’s Real Milestone (Or Why Interest Rates Can Never Go Back To Normal)

By John Rubino – Re-Blogged From Dollar Collapse

Forget about NAFTA or OPEC or TPP or crowd size or hand size or any other acronym or stat or concept that obsesses the financial press these days. Only two numbers actually matter.

The first is $20 trillion, which is the level the US federal debt will exceed sometime around June of this year. Here’s the current total as measured by the US Debt Clock:

To put $20 trillion into perspective, it’s about $160,000 per US taxpayer, and exists in addition to the mortgage, credit card, auto, and student debt that our hypothetical taxpayer probably carries. It is in short, way too much for the average wage slave to manage without some kind of existential crisis.

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1 is Too Many And 12 Are Not Enough

By Gary Christenson – R-Blogged From http://www.Silver-Phoenix500.com

You have probably heard that phrase regarding alcoholics.  It applies elsewhere.

  • One hit of “meth” is too many, but when you NEED it, 12 hits are not enough.
  • One shot of “mainlined” heroin is too many, and you know the rest of that story.
  • One burst of monetary heroin – quantitative easing – is too much if central bankers want a financial system that does not debase their currencies. But central banks around the world are “shooting-up” with increasing amounts of fiat currency created from nothing.
  • A government sale or “lease” of 100 tons of gold is silly, but after years of deficit spending, dumping 1,000 tons on the market is not enough to stabilize fiat currencies.

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The CRomnibus Abomination Was Not ‘A Rare Bipartisan Success’

David Stockman   Guest Post by David Stockman

The rank economic cheerleading in the guise of “news” printed by the Wall Street Journal, Reuters and the rest of the financial press never ceases to amaze. But on the heels of Congress’ pathetic capitulation to Wall Street over the weekend you have to wonder if even the robo-writers who compose the headlines are on the take.

How could anyone in the right mind label this weekend’s CRomnibus abomination “A Rare Bipartisan Success for Congress”? Apparently,

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Balance the Budget – Now

cropped-bob-shapiro.jpg   By Bob Shapiro

Our government spends more than it takes in. The “Official” Budget Deficit was over $1.3 Trillion a few yeas ago, has come down to around $500 Billion today, and is expected to rise steeply again for the balance of the decade.

But the official number doesn’t tell the whole story. Not included is all the US Agency Debt, like

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