Thread by @JWalters314

No one in the thread has asserted there will not be spillover effects into other asset classes, in an event where the US equity market has a 40% draw-down, but that will not "destroy America," as some snowflakes assert.

https://twitter.com/LyinTed1337/status/1660514266317824000

A 40% decline in equities will not destroy America.

The Lyin' Ted account is attempting to induce a debate on an assertion not made, and I'll entertain it.

Let's look at the relation between equities and commodities.

Side-Note: Even up markets see draw-downs in S&P 500.

For long-term investors, a key issue is whether there exists a long-term relation between the prices of commodity and equity investment even though these prices may diverge in the short term (Kasa, 1992).

Büyükşahin, Haigh, and Robe authors have applied recursive cointegration techniques (Johansen, 1998, 1991; Johansen and Juselius, 1990) to examine the stability and the possible strengthening over time of the relation between equity- and commodity investment
price series.

Except for a short period in the late 1990's, one finds little statistical evidence of cointegration – and none in the last eight years [relative to 2008].

The implication was that passive investors can still achieve substantial gains by diversifying portfolios across the

two asset classes (of equities and commodities).

Although there is no evidence of a structural shift in correlation and cointegration levels [through 2008 data], it could still be the case that financial and commodity markets have become a “market of one” during extreme events.

The key is during extreme events, but that means for a short period of time, as extreme events tend not to last for the long-term.

Hartmann, Straetmans and de Vries (2004), for example, find evidence of cross-asset extreme linkages in the case of bond and equity returns from

the G-5 countries.

Using a different approach, Longin and Solnik (2001) provide evidence that international equity-market correlations increase in bear markets.

When one identifies the days and weeks during which returns on equity indices
were at least one or two

standard deviations away from their means [through 2008 data], and then analyze the contemporaneous returns on investable commodity indices, contrary to extant findings on extreme linkages between other asset markets, a first analysis finds little relation between

exceptionally large returns on equities and those on commodities.

Using a technique similar to Longin and Solnik’s (2001) to analyze equity-commodity linkages when the returns on equity and commodity indices both take
values in the tails of their respective distributions,

one finds weak extreme-event correlations.

Interestingly, whereas Longin and Solnik find high positive correlations across international equity markets in down markets, Büyükşahin, Haigh, and Robe document that the equity-commodity correlation is mildly positive in the

upper tail, but is negative in the lower tail.

Beyond the short-term extreme event, the two price series will not move with a strong correlation together, and the correlation is even negative in the lower tail.

That covers equity and commodity market correlations.

What about equity and real estate?

Bonds?

You can find the papers on those topics.

High interest rates, a prospect of lower economic growth (e.g., lower GDP), and higher stock-bond correlations implies the top X% will look to alternatives like the secondary market in

private capital space, or to residential housing or industrial real estate (as opposed to office and retail properties), and private credit that benefits from a legal framework; namely, covenants that protect capital in private credit market.

Returning to commodities, using

dynamic correlation and recursive cointegration techniques, Büyükşahin, Haigh, and Robe in 2008 find that the relation between the returns on investable commodity and equity indices has not changed significantly in the last fifteen years (relative to 2008 data).

They also find no evidence of an increase in co-movement during periods of extreme returns.

Coming back to Private Capital, have you noticed the number of publicly traded companies in the U.S. has declined 46% since 1996?

Meanwhile, look up the increase in privately held legal structures.

Graphic below is using data through Dec 31, 2021.

Companies, or rather, the top X% who fund them, are choosing to be private due to
less regulation, less disclosure, and a short-term focus.

Within a decade, can we expect regulation of these private capital legal structures to increase, should the trend of fewer publicly traded and more privately traded companies grow, not by count, but by some measure of market cap?

All the so-called dry powder incentivizes a

growing pool of privately owned companies to keep growing.

How much of that dry powder is a result of government transfers of wealth from the bottom up?

“A surprising large % of tax receipt are tied to the rise of US stock prices."

— Alan Greenspan 2015.

"When the stock market stops rising, not falls, but just stops rising, that will put pressure on the receipt side of the US fiscal picture.”

Greenspan = American GOP Deep State cabal of fascists

The people who run the show will never tolerate a US equity market decline over

any long-term period.

The cabal controls the Fed and a US Treasury and Fed shell game would ensue.

Always amused by the folks who write books titled "the Great Crash Ahead," or something to that effect based on "fundamentals" or "demographics" while ignoring that America is

run by a cabal of the top X% whose wealth is tied to real assets, equities, etc and who control the Fed and install the politicians and judiciary.

https://twitter.com/JWalters314/status/1660463171620986880

Framing the #DebtCeiling "debate" by asserting that both sides agree to some spending cuts tells you how America works: "both sides" is the key.

It's only two "voices."

All the ideas coalesce down to two viewpoints with one viewpoint, the GOP one, being the consensus among

the top X%, who put the GOP in power, and the other viewpoint, as represented via the Democrats, at times sort-of represents "the people" but the top X% can also influence the official D viewpoint.

Basically, America is run by a fascist GOP Deep State cabal of a few hundred wealthy families via a group of fewer than 70 GOP Senator's and a few hundred idiots in the House of Reps, and by the bought and paid for Judges that are loyal to a GOP Deep State cabal.

I don't expect Biden to use 14A as he could because Biden is a middle-of-the-road, a bit to the right type of Democrat and the fascist GOP Deep State cabal made it a Trump v Biden matchup.

Had the people had a voice in the selection process (not the General election),

that would not have been the matchup.

The GOP raised the debt ceiling 3 times under Trump.

The GOP raised the debt ceiling 7 times under W. Bush.

The GOP raised the debt ceiling 18 times under Reagan.

It's about power and control by the fascists from among a top X%.

Trump said the debt ceiling shouldn't be used as a negotiating wedge when he was president, and when asked why he's not saying that now, he said because he's not president.

Trump is telling you he's a Manchurian Candidate of the fascists of the GOP Deep State cabal.

Kevin McCarthy is loyal to the same cabal that installed Donald Trump.

https://twitter.com/i/status/1660344969498951680

With control of House & Senate, Dem leaders failed to:

- Eliminate the debt ceiling as another leverage tool for the fascists of the GOP
- Ban gerrymandering
- Do anything re SCOTUS
- Do anything re Filibuster
- Do anything re Electoral College

Is it the filibuster?

Is it the representation?

Goal of the fascists of the GOP Deep State cabal is to dismantle the federal government's oversight and power to police the top X%.

The one thing the GOP Deep State cabal wants is a "strong military" because a military controlled by the cabal

protects the wealth of the born-into-riches of the cabal, and a military protects the business of major companies, private and public, owned mostly by the cabal of born-into-riches, while said military is financed by taxes on the bottom 90%, and the equipment and tech used by

the military is priced to make the top X% in the cabal even richer.

https://twitter.com/JWalters314/status/1660468297228333059

Dems could’ve averted a debt ceiling drama week with just 50 Senate votes via reconciliation during a lame duck session, but they refused.

Is it just Manchin and Sinema?

Is Biden part of the Manchin and Sinema club?

The great thing about arbitrary authority is that after a while you don't even have to exercise it.

People internalize that you are going to do whatever you want to do, and don't even try to challenge you.

Trump, or rather, the GOP Deep State cabal that installed him,

in partnership with UAE, MBS of Saudi Arabia, Netanyahu of Israel, and Putin of Russia understood this.

Why is Biden asleep on it?

Just use the powers of the President and let the MAGA wing of the House talk, talk, talk.

Pivot

Was just discussing Enterprise Funds yesterday.

Will link in the thread in next tweet.

https://twitter.com/nimkef/status/1660694392577859584

https://twitter.com/JWalters314/status/1660415864687013888

The Manchin and Sinema Club of No Labels is GOP Deep State fascist propaganda strategy.

This cabal is a subset of America's top X% of mostly inherited wealth that does not get taxed.

https://twitter.com/i/status/1660663816739274752

People will confuse the No Labels strategy and get it all wrong.

No Labels is same fascists GOP cabal that controls the GOP.

Their main goals are to prevent unity among voter's as unity threatens their power and control and to prevent taxing the top X%.

Sinema helped with

that goal by screwing with Build Back Better.

Manchin helped the cabal with their goals too.

Manchin and Sinema = useful idiots of the fascists GOP Deep State cabal.

Manchin and Sinema will be millionaires.

Manchin is already, but making them millionaires does not threaten

the billionaire class.

Joe Biden earns his "Sleepy Joe" label by the cabal by calling Sinema wicked smart and by trying to be friends with Joe Manchin.

Will Biden earn the label with lack of action over the #DebtCeiling drama?

Rep. Marjorie Taylor Greene R-GA could force a vote on impeachment against President Biden at any time by asking for the consideration as a privileged resolution.

Her game is an informational game.

It's about the narrative being fed to her target audience.

The U.S. Fed is paying banks more interest than it receives, and that is by design by the American GOP Deep State cabal.

The reason the banking system is bloated with $8 trillion in uninsured deposits is because the Federal Reserve put those deposits there.

Despite the most aggressive monetary policy in U.S. history, commercial bank lending since 2008 has grown at just 3.4% annually, easily the slowest rate in data since 1947.

So, all that QE <> large growth in commercial bank lending.

Notice what’s happened to the

U.S. banking system since 2008.

The total size of the banking system has more than doubled. But look at the composition. Deposit liabilities of banks have exploded, not because of new lending, but instead because of an explosion of cash, mainly reserves created by the Fed.

Before 2008, the amount of deposits in the banking system grew hand-in-hand with the amount of loans made by the banking system.

Not anymore.

The primary achievement of quantitative easing has been to force trillions of deposits into the banking system,

backed not by loans, but by Fed-created cash reserves.

When banks are being paid interest on their cash without passing it on to their depositors, people tend to move the deposits to money market funds.

How many readers' have moved "money" from a demand checking account to a

CD or money market fund?

The money market funds aren’t banks, so unless they hold the funds as bank deposits, they’ll chase yield in short-term securities like Treasury bills, driving market interest rates below the Federal Reserve’s target.

As a result, the Fed can’t maintain its interest rate target without somehow stopping that yield-seeking behavior.

Since the Fed can’t legally pay interest to money market funds, and refuses to manage interest rates by changing the size of its balance sheet

(as it did for all of history prior to 2008), it has created a new “overnight reverse repurchase facility,” where the Fed sells one of its own securities overnight to the money market fund, and takes the cash overnight from the money market fund, and then buys the security back

the next morning at a slightly higher price, resulting in a little gain to the money market fund.

Rinse-and-repeat day-in, day-out.

This way, the Fed can keep holding the securities instead of investors and money market funds holding them.

The Fed is simply the bank of the

fascist GOP Deep State cabal.

The Fed books the securities it holds at “amortized cost” – which gradually moves their prices toward face value as the securities mature, regardless of the actual market value of those securities.

If the Fed was to value its assets at actual market value, its balance sheet would be deeply insolvent.

The cabal banking is how the cabal maintains its power and control when shit hits the fan.

While the Fed is able to obscure its capital losses by valuing its assets at cost, there’s one item the Fed isn’t able to completely bury in its balance sheet accounting.

That’s the deficit that it has been running by paying interest of 5.1% to banks and money market funds on liquidity it created when it bought bonds yielding an average of only 2.5%.

Normally, pre-2008, when the Fed receives interest on the bonds it holds, it transfers that interest back to the Treasury for public benefit (though with the arrogance to call them “profits”).

Now that the Fed is paying banks more interest than it receives – another cost the public bears for the Fed’s balance sheet – the Fed is essentially creating money (a liability to the Fed) without any backing by a corresponding asset.

The resulting deficit will be recovered by the Fed over time, by retaining interest that it receives on its government bond holdings, rather than transferring it to the Treasury for public benefit.

Let's spoil the punchline: the Fed, acting for the benefit of

the fascist American GOP Deep State cabal of a few hundred families from mostly inherited wealth, is simply transferring wealth, over time, from the bottom up.

From Brown Brothers and its legal representation at Sullivan and Cromwell in past decades, not much has changed for

how the wealthy of the cabal takes real returns from the bottom Y%.

In the meantime and in-between time, having created government liabilities with no corresponding asset in hand, the Fed has invented a phantom accounting entry on its balance sheet called a “deferred asset.”

As Ben Bernanke cryptically explained to Congress years ago: “It is an asset in the sense that it embodies a future benefit [to the Fed] that will be realized as a reduction of future cash outflows [to the public]."

[to the Fed] means to the Fascist GOP Deep State cabal.

When Alvin "Buzzy" Krongard said that the CIA is a bunch of bankers and lawyer's, he was not joking.

From Bill Donovan at OSS to CIA, it's always been an organization that serves the wealthy, but not just the wealthy, a subset of the wealthy that are fascists.

Allen Dulles would be proud of the Fed since 2008.

Most of the explosion in U.S. commercial bank deposits since 2008 is not the result of loan growth, but instead the result of cash reserves forced into the banking system by the Federal Reserve.

One might imagine that even though bank lending since 2008 has grown at the slowest rate in history, at least the unprecedented policy of zero interest rates engineered by the Fed must have “stimulated” unusually strong investment in factories, equipment, housing, and

other productive economic activities; that it must have done something other than to fuel yield-seeking financial speculation.

Ha Ha.

GOP Deep State financial engineering isn't rocket surgery.

It's a bunch of born-into-riches people playing, and they're not some geniuses.

Even at the peak of the recent cycle, net domestic investment as a share of GDP stood at levels that marked the lows of previous economic cycles.

All the financial engineering is NOT stimulating investment in productive real assets.

It's all a wealth transfer from the

bottom up, over time, with taxes and laws as they are in 2023.

One might imagine that at least these excess deposits must be insured by the FDIC, which would reduce the risk of bank runs.

One would be wrong.

The table below is from the Quarterly Banking Profile of the FDIC.

Notice that in the fourth quarter of 2022, the U.S. banking system had domestic deposits of nearly $18 trillion.

Yet only about $10 trillion of those deposits were insured.

The excess deposits are there because the Fed put trillions of dollars of needless reserves there.

Those excess deposits are so far beyond the amount needed for bank lending, and so far beyond normal cash holdings of the public, that they wildly exceed FDIC insurance limits.

But, the fascist American GOP Deep State cabal will convince the useful idiots in put into the Congress to insure the shit.

They’re also captive in the banking system unless they are withdrawn as currency or transferred to money market funds on reverse-repo with the Fed.

Quantitative easing didn’t encourage greater bank lending.

It encouraged greater bank speculation in securities.

Uninsured bank depositors are making runs on banks in 2023 that have significant amounts of exposure to Treasury securities, and that's by design by the

fascist GOP Deep State cabal - what Krongard called "bankers and lawyers."

When the Federal Reserve follows policies that benefit the fascist GOP Deep State cabal, what happens?

The quantity of monetary liabilities becomes misaligned with the quantity of real output.

The quantity of deposits in the banking system becomes misaligned with the quantity of bank lending.

Speculation causes the quantity of market capitalization – the blotches of ink and pixels on computer screens that people count as “wealth” – to become misaligned with the

cash flows available to service that market capitalization.

It's all a mirage.

Too much market capitalization with too few cash flows to service it.

And the GOP House Freedom Caucus is seeking debt default, meaning they are acting in a way that indicates they're working for

Putin as payback for HW Bush's financial assault on the Ruble that was launched on 9/11/1991.

But that's not the full story because Putin is still aligned with the American fascists that installed him as Acting President of Russia on 12/31/1999.

The rational thinker will understandably believe that a misalignment of financial quantities and real economic quantities will lead to inflation, bond losses, bank failures, pension crises, stock market collapse, debt default, and dismal long-term equity returns.

However, the

rational thinker would be warned to not ignore the fact that the cabal that runs the show can continue to tinker with the markets and can continue to hold up a mirage and can continue to perform financial engineering.

There is no end in sight for the mirage and shell games.

The greater the misalignment between financial quantities and economic quantities, the more distorted and grotesque the whole picture becomes, but the distorted and grotesque picture can last lifetimes.

The cabal can maintain the mirage.

Side Note: Yes, even the "liberal" brands will counter attempts at laborers forming unions.

Of course, the conservative brands do it, in the open, but the liberal brands, also tend to act in ways that prevent formation of unions which is similar to how

https://twitter.com/noamscheiber/status/1660669357590999040

a fascist GOP Deep State cabal uses propaganda (e.g. Fox News, NewsMax, and now CNN) to program people so that voter's fail to form a unity platform.

Works for the cabal, over-and-over.

The only qualm I have with this thread is it concludes Flynn and Friends serve a hostile nation state and only a hostile nation state.

What if Flynn and Friends serve a fascist American GOP Deep State cabal?

https://twitter.com/jimstewartson/status/1660734202600628225

I'm not sure the AI generated disinfo on Twitter is all Russia.

It's an American GOP Deep State cabal, of which Elon Musk and the Saudi money backers of Twitter (and Kushner) are a part.

https://twitter.com/jsrailton/status/1660679743266607105

Was the Syrian Electronic Army really an American GOP Deep State operation?

https://twitter.com/jsrailton/status/1660686261957345286

https://twitter.com/StringwallApp/status/1660735359100112907

To play catch:

https://twitter.com/StringwallApp/status/1419479112356409347

https://twitter.com/StringwallApp/status/1660501204286291970

Paul Manafort helped James A. Baker III in 1976, a born-into-riches TX oil guy, loyal to HW Bush, round up the delegates for Ford needed to fend off a primary challenge from Reagan.

During the epic Republican National Convention of 1976, Manafort holed up with Baker in a trailer outside the Kemper Arena, in Kansas City, Missouri.

They attempted to protect Gerald Ford’s renomination bid in the face of Ronald Reagan’s energetic challenge.

By the late ’70s, Manafort and Stone could foresee Ronald Reagan’s ascendance, and both intended to become players in his 1980 campaign.

For Manafort, this was an audacious volte-face.

By flipping his allegiance from the former Ford faction, he provoked suspicion among conservatives, who viewed him as a rank opportunist.

But, did Manafort really flip his allegiance?

theatlantic.com/magazine/archi…

The Reagan administration represented a break with the old Republican establishment.

After the long expansion of the regulatory state, business finally had a political partner eager to dismantle it—which generated unprecedented demand for lobbyists.

Manafort could convincingly claim to know the new administration better than anyone.

During its transition to power, he was the personnel coordinator in the Office of Executive Management, which meant that he’d stacked the incoming government with his people.

They did the same thing with Manchurian Candidate Trump as they did with useful idiot Reagan.

****

Manafort had long befriended ambitious young diplomats at the trailhead to power, including Prince Bandar bin Sultan Al Saud, then the Saudi ambassador to Washington.

When Bandar attended the 1984 Republican National Convention, Manafort dedicated a small group of advance men to smooth his way.

Manafort arranged for Bandar to arrive at the presidential entrance, then had him whisked to seats in the vice-presidential box.

By 2001, W Bush would give Bandar special treatment, and Trump Jr's ex Vanessa was in a relationship with Bandar for years.

Just before World War II, Congress had passed the Foreign Agents Registration Act, largely in response to the campaigns orchestrated by Ivy Lee, an American publicist hired by the German Dye Trust to soften the image of the Third Reich.

Congress hadn’t outlawed influence peddling on behalf of foreign interests, but the practice sat on the far fringes of K Street.

theatlantic.com/magazine/archi…

Paul Manafort helped change that.

The Reagan administration had remade the contours of the Cold War, stepping up the fight against communism worldwide by funding and training guerrilla armies and right-wing military forces, such as the Nicaraguan contras and the

Afghan mujahideen.

This strategy of military outsourcing—the Reagan Doctrine (which should be referred to as the HW Bush Doctrine)—aimed to overload the Soviet Union with confrontations that it couldn’t sustain, but also aimed to make the GOP Deep State cabal wealthier.

All of the money Congress began spending on anti-communist proxies represented a vast opportunity.

Iron-fisted dictators and scruffy commandants around the world hoped for a share of the largesse.

To get it, they needed help refining their image, so that Congress wouldn’t look too hard at their less-than-liberal tendencies.

Other lobbyists sought out authoritarian clients, but none did so with the focused intensity of Black, Manafort, Stone and Kelly.

The firm would arrange for image-buffing interviews on American news programs; it would enlist allies in Congress to unleash money.

Back home, it would help regimes acquire the whiff of democratic legitimacy that would bolster their standing in Washington.

The firm won clients because it adeptly marketed its ties to the Reagan administration, and then the George H. W. Bush administration after that.

In other words, H.W. Bush = Fascist American GOP Deep State cabal

Black, Manafort, Stone and Kelly international business accelerated when the Philippines became a client, in 1985.

President Ferdinand Marcos desperately needed a patina of legitimacy: The 1983 assassination of the chief opposition leader, Benigno Aquino Jr., had imperiled U.S.

congressional support for his regime.

Marcos hired Manafort to lift his image; his wife, Imelda, personally delivered an initial payment of $60,000 to the firm while on a trip to the States.

When Marcos called a snap election to prove his democratic bona fides in 1986, Manafort told Time, “What we’ve tried to do is make it more of a Chicago-style election and not Mexico’s.”

The quip was honest, if unintentionally so.

In the American political lexicon, Chicago-style elections were generally synonymous with mass voter fraud.

The late pollster Warren Mitofsky traveled to the Philippines with CBS News to set up and conduct an exit poll for the election.

When he returned, he told the political scientist Sam Popkin the story of how a representative of Manafort’s firm had asked him, “What sort of margin might make a Marcos victory legitimate?”

The implication was clear, Popkin told me: “How do we rig this thing and still satisfy the Americans?”

HW Bush would later instruct Ferdinand Marcos where to place laundered funds, including in NY real estate, including 40 Wall St, which was later off-loaded onto Trump Org's

books.

I do ask, is 40 Wall St the product of the Anderson Trust?

Black, Manafort, Stone and Kelly's most successful right-wing makeover was of the Angolan guerrilla leader Jonas Savimbi, a Maoist turned anti-communist insurgent, whose army committed atrocities against

children and conscripted women into sexual slavery.

During the general’s 1986 trip to New York and Washington, Manafort and his associates created what one magazine called “Savimbi Chic.”

Former Senator Bill Bradley wrote in his memoir, “When Gorbachev pulled the plug on Soviet aid to the Angolan government, we had absolutely no reason to persist in aiding Savimbi.

But by then he had hired an effective Washington lobbying firm.”

The war continued for more than a decade, killing hundreds of thousands of Angolans.

Understand that Black, Manafort, Stone and Kelly work for a fascist American GOP Deep State cabal - people like H.W. Bush of the past and James A Baker III and Richard Nixon.

The ones alive in Nov 1963 and at least of teenage years were part of the Big Lie of Nov 22, 1963 that would partially bind them together and that would be the crux of the Watergate affair.

Nixon feared info about Nov 22, 1963 coming out.

by the late 1980s, Manafort had a new friend from abroad, whom he mentioned to his partners more than any other, an arms dealer from Lebanon named Abdul Rahman Al Assir.

He was, for a time, the brother-in-law of the Saudi arms dealer Adnan Khashoggi, the middleman used in

the arms-for-hostages scheme that became the Iran-Contra scandal.

Al Assir was the Khashoggi empire’s representative in Spain and a broker of big weapons sales to African armies.

At a1993 dinner hosted by Paul Manafort in his Virginia home and attended by Pakistan’s prime minister, Benazir Bhutto, Manafort had Bhutto drooling for his services.

Bhutto suggested that Manafort work with the Pakistani intelligence service.

This foreshadows some elements of 9/11 in America and of elections in France in the 1990s and 2000s.

Manafort took Al Assir as his guest to George H. W. Bush’s inauguration, in 1989.

Before 1989, Paul Manafort was said to have walked away with $10 million in cash from Ferdinand Marcos, money he promised he would deliver to Ronald Reagan’s reelection campaign, but it was really for HW Bush to be made the Professional Actor's VP, at the direction of

David Rockefeller of the GOP Deep State Cabal, and then the VP given lots of power, by an Executive Order, signed by useful idiot Reagan, the Professional Actor.

After the election of George H. W. Bush, Black, Manafort, Stone and Kelly agreed to help organize the inauguration festivities, not too different from W Bush or Trump.

In 1991, Black, Manafort, Stone and Kelly was purchased by the mega public-affairs firm Burson-Marsteller, the second-largest agency in the world.

In 1995, Manafort left Burson. Taking a handful of colleagues with him, he started a new firm—Davis, Manafort and Freedman.

In 2003, Rick Davis, a partner in Manafort’s new firm, was invited to the office of a hedge fund in Midtown Manhattan.

When Davis arrived, he found himself pumping the hand of the Honorable Nathaniel Philip Victor James Rothschild, the British-born financier known as Nat.

https://twitter.com/JWalters314/status/1626712427101360128

https://twitter.com/DavidCranmerUn1/status/1541089039624929280

The risks of popular uprising in 2004 in Ukraine were very much on Rothschild’s and Deripaska’s minds during the last months of 2004, when they handed Manafort a specific task.

Ukraine had descended into political crisis, one that jeopardized business interests they’d

already developed in the country (Rothschild had various private-equity investments; Deripaska had an aluminum smelter).

When Yanukovych won the presidency in 2010, he gave Manafort “walk in” privileges, allowing him to stroll into the inner sanctum of the presidential offices at any time.

Backing up, in 2006, Rick Gates, arrived in Kiev.

Another 2006 reminder:

https://twitter.com/JWalters314/status/1660434281481621505

Also, keep in mind that GOP Deep State cabal member Alan Greenspan was Fed Chair from Aug 1987 to Jan 31, 2006.

Manafort placed Rick Gates at the helm of a new private-equity firm he’d created called Pericles.

He intended to raise $200 million to bankroll investments in Ukraine and Russia.

Thread on Enterprise Funds

https://twitter.com/JWalters314/status/1660415864687013888

Manafort had always intended to rely on financing from Oleg Deripaska to fund Pericles.

In 2007, Manafort persuaded him to commit $100 million to the project.

For Pericles’s first deal, Manafort used Deripaska’s money to buy a telecommunications firm in Odessa called Chorne More (“Black Seas,” in English) at a cost of $18.9 million.

He also charged a staggering $7.35 million in management fees for overseeing the venture.

Was Pericles a GOP Deep State alternative to the Enterprise Funds that HW Bush got through congress in Oct 1992?

https://twitter.com/JWalters314/status/1660421920645423104

As Deripaska’s world came crashing down by 2008, his representatives asked Manafort to liquidate Pericles and give him back his fair share.

But Manafort screwed over Deripaska in 2008, the year of Obama campaign.

“I really need to get to” Trump, Paul Manafort told an old friend, Tom Barrack, in the early months of 2016.

Barrack, a confidante of Trump for some 40 years, had known Manafort even longer.

When Manafort asked for Barrack’s help grabbing Trump’s attention, he readily supplied it.

This is the fascist American GOP Deep State cabal!

https://twitter.com/JWalters314/status/1660437946002972673

In the fall of 2014, Mike Flynn registered his new company, Flynn Intel Group, from an Alexandria, Va. townhouse owned by Stanley McChrystal, with Bijan Kian.

By early 2016, Flynn signed a $600K lobbying deal with Alptekin.

https://twitter.com/StringwallApp/status/1660453767525933056

Flynn and McChrystal observed the easy $$$ Paul Manafort was making by lobbying and partnering with GOP Deep State Cabal and Organized Crime.

usnews.com/news/the-repor…

slate.com/news-and-polit…

Reminder

W Bush v Gore recount head James Baker III asked Margaret Tutwiler to contact Roger Stone Jr. to orchestrate the Brooks Brother's Riot, as James Baker was working to get W Bush into the White House by legislative coup.

https://twitter.com/JWalters314/status/1654192679629074432

Stone and Manafort = HW Bush + James Baker = GOP Deep State cabal = evolution of Brown Brothers, represented in the 1950s, 1960s by Sullivan and Cromwell, using funding from the Anderson Trust set up in Tx that was stolen funds from Japan, taken out of the Phillipines, but then

those funds were used as cover for subsequent money that was laundered from narcotics and weapons trafficking to make the GOP Cabal even richer.

Going to pivot back to the financial and market conversation of the thread earlier.

Mortgage applications to buy a house in mid-May were already at lowest level in 20 years.

How low can homebuyer demand in the US Housing Market go before something in the economy breaks?

That is not the right question!

The question is, does demand from a bottom 90% even matter when the top 10% are buying the single family homes?

With mortgage rates hitting 7%,

it may not kill the housing market like some folks are predicting because the market is propped up by

1) top X% still demanding single family homes
2) when people die and their offspring inherit, these recipients of single family homes are NOT selling

Point 2 is in part due to short term rental demand + tax benefits of owning a newly inherited single family home and using it for a short term rental.