Trump’s Popularity Surges to New Records; MSM Spin Fails Spectacularly

The Huffington post today admitted a few things that are worth highlighting:

OPINIONS OF TRUMP IMPROVE – From a GW Battleground poll released Tuesday morning: “Donald Trump’s public image has notably improved since winning the presidency in November, according to the latest George Washington University Battleground Poll. Of the voters surveyed, 45 percent had a favorable opinion of the president-elect, while 49 percent viewed him negatively. This represents a large swing from the last edition of the GW Battleground Poll in mid-October, when only 36 percent rated favorably and 61 percent were unfavorable….

New York is also feeling the love:

NEW YORKERS ARE ALSO WARMING UP TO TRUMP – Nick Bayer: “President-elect Donald Trump has become more popular among New York voters since his stunning win on election night, according to a Siena College poll released Monday. Forty-one percent of voters in the state now hold a favorable opinion of the president-elect ― the highest ever favorable rating in any Siena poll of New York. Trump’s favorable rating is 7 points higher now than it was when the college conducted its last poll just before Election Day. Likewise, his unfavorable rating has dropped by 10 percent in the same period, from 63 to 53 percent.Trump lost the largely Democratic state to rival Hillary Clinton by a margin of 37 percent to 58 percent.”

This is absolutely devastating news for any MSM editor who thought continuing false narratives and manipulating its readership like they are gullible & stupid children would be an intelligent strategy.

My hope is that bit by bit, the few remaining who are capable among journalists & the left will heed the sentiment I echoed the day after the election, and embark upon a decades long project of rebuilding what they’ve wrecked so irresponsibly:

Dear disappointed Americans,

Now may not be the time to continue regurgitating the lies & smears that a failing and…

Posted by EconomicsJunkie on Wednesday, November 9, 2016

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Longer Maturity Bonds Coming? What Does It Mean For Investors?

ZeroHedge reported a few days ago that Trump’s pick for Treasury Secretary suggested in an interview with CNBC that he’d be open to issuing new bonds of longer term maturity:

“I think interest rates are going to stay relatively low for the next couple of years.” Mnuchin told CNBC. “We’ll look at potentially extending the maturity of the debt, because eventually we are going to have higher interest rates, and that’s something that this country is going to need to deal with.” Ironically, with that statement, Mnuchin quickly sent yields spiking higher, although courtesy of foreign buyers these were promptly renormalized.

Treasury Rate Spike

The mini selloff in Treasury securities on that day could have been prompted in part by anticipation: When longer bond options become available a certain portion of long bond investors while invariably sell off a portion of their current holdings to reach for the higher yield.

For example, investment strategies such as the permanent portfolio (which I follow) require you to allocate 25% to the safest & longest government bonds denominated in your local currency.

On the net such a move would simply be a gift to such long bond investors, since longer maturities offer more upwards punch precisely when needed, that is when deflationary pressures prevail and interest rates plummet. Furthermore longer maturities pay higher interest rates, essentially a risk free subsidy to those with money to invest in this manner.

If you’ve read my post about Modern Money Theory you’ll understand that most other reasons cited by Mnuchin don’t make much economic sense, since the government doesn’t really “need” to borrow money or issue long term debt at all:

Why sell longer term government bonds like the Treasury does, effectively setting a risk free rate and thus a floor for longer term loans? Again a good question! In fact, MMT ultimately suggests that beyond very short term Treasury Bills at most there’s really no reason for the government to be floating long term bonds.

Within the confines of today’s fiat money system, MMT actually offers the most libertarian alternatives regarding interest rate management and government bonds: let the overnight rate go wherever market conditions amongst private banks let it go, and don’t issue any long term government debt at all!

And in Why The National Debt Doesn’t Matter I explained:

When the Treasury pays interest on the public debt, it does so by asking the Fed (the banks’ bank) to mark up the recipient’s bank’s bank reserves via electronic keystrokes. It doesn’t need to raise taxes anywhere in order to perform this operation.

On that same token, when the Treasury retires a maturing government bond, it asks the Fed to remove said bond from the bondholder’s bank’s securities account and in turn marks up said bank’s bank reserve account accordingly. Once again, no tax money is needed to perform this operation. No future generations, to cite a popular cliche, are being asked to cough up the money to perform this operation.

And on Mnuchin’s claim that we’re “going to have higher interest rates, and that’s something that this country is going to need to deal with”, I’ve pointed out the following in that same article:

How many bonds are outstanding, at what maturity, and how much interest we wish to pay on them, are both 100% present-day political decisions that the federal government can make independently of the private sector. Theoretically, all outstanding bonds could be replaced by bank reserves that pay zero interest. All that would happen, in that case, is that one type of government obligation (government bonds, the promise to pay future bank reserves) is replaced with another government obligation (bank reserves, the promise to accept them to settle tax liabilities).

In other words: In a sovereign floating fiat money system rates on government bonds are always under the government’s control, letting them float is a choice, not an imperative.

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WIKILeaks Update: Anonymous Proves that Julian Assange Has Been Taken By The CIA!

I just watched this clip and it makes some interesting connections to consider:

Is suggests among other things, that:

  • on October 16th 2016 a black ops team broke into the Ecuadorian embassy in London and took Assange
  • his whereabouts are unknown at this point, no credible life signs have been presented
  • several high profile attorneys and other Wikileaks informants and supporters have died over the past year, some under strange circumstances
  • wikileaks has been compromised by the CIA, the newly created Twitter account @WLTaskForce was instrumental in this takeover (I remember wondering at the time what the whole point of creating this new account was!)
  • we can’t trust anything we hear from Wikileaks at this point

Varying degrees of verifiable evidence are presented for the different claims, but attention and research are certainly warranted.

Update: I also just remembered this clip from November 1st 2016, where intelligence insider Dr. Steve Pieczenik announced that the US intelligence community, with Julian Assange’s help, had conducted a silent counter coup against an attempted takeover by a certain domestic political faction tied to the Clintons, among others:

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