Corruption

The Pronk Pops Show 986, October 18, 2017, Story 1: Breaking Bad — The Real Russian Collusion Story That Big Lie Media Will Not Cover — Russian Bribery, Payoffs, Extortion, Blackmail,Kickbacks and Cover-up — Aided and Abetted By Obama Administration — FBI Under Mueller, Comey and McCabe and Department of Justice Attorney General Eric Holder Knew of Russian Bribery and Kickbacks and Did Not Inform The Committee on Foreign Investment in the United States (CFIUS) — Racketeers Hillary and Bill Clinton Were Paid Off Through The Clinton Foundation — Pay For Play — Rule of Law Crisis — Special Counsel To Investigate FBI, Department of Justice, Obama Administration, and Clinton Foundation — The American People Demand It — Videos

Posted on October 20, 2017. Filed under: 2016 Presidential Candidates, American History, Bill Clinton, Blogroll, Breaking News, Bribery, Budgetary Policy, Cartoons, Communications, Corruption, Countries, Crime, Culture, Disasters, Donald J. Trump, Donald J. Trump, Donald J. Trump, Donald Trump, Donald Trump, Economics, Education, Elections, Employment, Energy, European History, Federal Government, Fiscal Policy, Foreign Policy, Former President Barack Obama, Freedom of Speech, Government, Government Dependency, Government Spending, Hillary Clinton, Hillary Clinton, Hillary Clinton, Hillary Clinton, History, Human Behavior, Independence, Investments, Iran Nuclear Weapons Deal, James Comey, Labor Economics, Language, Lying, Monetary Policy, Nuclear, Nuclear, Obama, People, Philosophy, Photos, Politics, Polls, President Barack Obama, President Trump, Progressives, Raymond Thomas Pronk, Regulation, Resources, Robert S. Mueller III, Rule of Law, Scandals, Security, Spying, Spying on American People, Surveillance/Spying, Tax Policy, Trade Policy, Trump Surveillance/Spying, United States of America, War, Wealth, Weapons, Weapons of Mass Destruction, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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The Pronk Pops Show Podcasts

Pronk Pops Show 986, October 18, 2017 posted as soon as possible

Pronk Pops Show 985, October 17, 2017

Pronk Pops Show 984, October 16, 2017 

Pronk Pops Show 983, October 13, 2017

Pronk Pops Show 982, October 12, 2017

Pronk Pops Show 981, October 11, 2017

Pronk Pops Show 980, October 10, 2017

Pronk Pops Show 979, October 9, 2017

Pronk Pops Show 978, October 5, 2017

Pronk Pops Show 977, October 4, 2017

Pronk Pops Show 976, October 2, 2017

Pronk Pops Show 975, September 29, 2017

Pronk Pops Show 974, September 28, 2017

Pronk Pops Show 973, September 27, 2017

Pronk Pops Show 972, September 26, 2017

Pronk Pops Show 971, September 25, 2017

Pronk Pops Show 970, September 22, 2017

Pronk Pops Show 969, September 21, 2017

Pronk Pops Show 968, September 20, 2017

Pronk Pops Show 967, September 19, 2017

Pronk Pops Show 966, September 18, 2017

Pronk Pops Show 965, September 15, 2017

Pronk Pops Show 964, September 14, 2017

Pronk Pops Show 963, September 13, 2017

Pronk Pops Show 962, September 12, 2017

Pronk Pops Show 961, September 11, 2017

Pronk Pops Show 960, September 8, 2017

Pronk Pops Show 959, September 7, 2017

Pronk Pops Show 958, September 6, 2017

Pronk Pops Show 957, September 5, 2017

Pronk Pops Show 956, August 31, 2017

Pronk Pops Show 955, August 30, 2017

Pronk Pops Show 954, August 29, 2017

Pronk Pops Show 953, August 28, 2017

Pronk Pops Show 952, August 25, 2017

Pronk Pops Show 951, August 24, 2017

Pronk Pops Show 950, August 23, 2017

Pronk Pops Show 949, August 22, 2017

Pronk Pops Show 948, August 21, 2017

Pronk Pops Show 947, August 16, 2017

Pronk Pops Show 946, August 15, 2017

Pronk Pops Show 945, August 14, 2017

Pronk Pops Show 944, August 10, 2017

Pronk Pops Show 943, August 9, 2017

Pronk Pops Show 942, August 8, 2017

Pronk Pops Show 941, August 7, 2017

Pronk Pops Show 940, August 3, 2017

Pronk Pops Show 939, August 2, 2017

Pronk Pops Show 938, August 1, 2017

Pronk Pops Show 937, July 31, 2017

Pronk Pops Show 936, July 27, 2017

Pronk Pops Show 935, July 26, 2017

Pronk Pops Show 934, July 25, 2017

Pronk Pops Show 934, July 25, 2017

Pronk Pops Show 933, July 24, 2017

Pronk Pops Show 932, July 20, 2017

Pronk Pops Show 931, July 19, 2017

Pronk Pops Show 930, July 18, 2017

Pronk Pops Show 929, July 17, 2017

Pronk Pops Show 928, July 13, 2017

Pronk Pops Show 927, July 12, 2017

Pronk Pops Show 926, July 11, 2017

Pronk Pops Show 925, July 10, 2017

Pronk Pops Show 924, July 6, 2017

Pronk Pops Show 923, July 5, 2017

Pronk Pops Show 922, July 3, 2017

Image result for branco cartoons on russian uranium deal and bribery of clintons

Image result for branco cartoons on russian uranium deal and bribery of clintons

Judicial Watch President, Tom Fitton, on Russia & the Clinton Connection

Hannity on Uranium One Deal: ‘Hillary Clinton and Her Husband Sold Out America to the Russians’

Russian Uranium Clinton Connection Heats Up!

FBI Informant Threatened into Silence by Obama Admin During Clinton Russia Scandal

Uranium One and the Clintons. A Very Tangled Web!

FBI Evidence Released of Hillary Clinton’s Collusion with Russia

Clinton cash trail in the ‘real’ Russian collusion scandal

‘Clinton Cash’ Author Peter Schweitzer Breaks Down Hillary-Russia Scandal

Grassley Has Finally Order the committee to investigate the Uranium one dea – Obama/Clinton – Dobbs

Sessions refuses to lift gag order on informant in Clinton-Russia probe

Did Clinton accept bribes during the uranium deal?

Hannity: Exposing the real Russia collusion

FBI – Russia Bribed for Uranium Deal, 1843

Mark Levin: Bill Clinton sought State’s permission to meet with Russian nuclear official

After Obama Threatened To ‘Disappear Him,’ FBI Informant’s ‘Shocking Secret’ Saves Trump

BREAKING Real Russia collusion Obama Hillary Clinton selling Russia USA Uranium October 2017 News

FBI uncovered Russian bribery plot before uranium deal

Tucker Carlson Tonight 10/19 General Kelly Scolds Congresswoman & More Yellow Cake Drama..!

Breaking Now A New Report Documents The Obama FBI Investigated Hillary’s Russian Uranium Deal

WOW! AG Sessions Says Rosenstein Can Investigate Himself in Uraniam One Scandal

FBI Uncovered Russian Bribery Plot In 2009 Before Obama Sold Russia A Bunch of Uranium

FBI uncovered Russian bribery plot before uranium deal

Explosive new Russia Collusion & Bribery Evidence Covered Up by FBI/DOJ Related to Uranium One

Gregg Jarrett: Mueller & Rosenstein Hid Clinton Russian Bribery From Congress- MUST RESIGN

Shocking FBI Corruption Exposed | True News

Hannity on Uranium One Deal: ‘Hillary Clinton and Her Husband Sold Out America to the Russians’

#SeanHannity Destroyed #HillaryClinton and Laid the Groundwork for a Multi-Count Indictment

Mark Levin breaks down the REAL Russia scandal | White House Brief

Resignation?! Special Counsel Robert Mueller Implicated In Shocking Scandal, You’ll Be Speechless!

Ben Shapiro: Obama Admin Knew About Bribery in Russian Nuclear Deals!

Mark Levin: Bill Clinton sought State’s permission to meet with Russian nuclear official

Obama and the Clintons are the Real Russian Colluders (EVIDENCE)

Mark Levin: Why the Russia story is a minefield for Democrats and the media (March 09 2017)

“Hillary Clinton Gave Uranium To Russia & You Say I’m Close” President Trump Slams Reporter

“Hillary Clinton Sold 1/5th Of Our Uranium To Russia” Sean Spicer Slams Democrats

REPORT: Obama Connected To Massive “Collusion” Plot

BREAKING!! FBI Indictments Imminent In The Clinton Foundation Investigation

BREAKING: FBI Sources Believe Clinton Foundation Scandal Headed Towards Indictment

Hannity: Uranium One and the Clinton connection

Has Hillary Clinton Sold Our Uranium to Russia?

CLINTON NEWS ALERT! JUDGE PIRRO: “CLASSIC RICO CORRUPTION – GO TO JAIL!”

A Few Thoughts Now On The Overwhelming Evidence Against The Clintons – Lou Dobbs Commentary

Russian COLLUSION with Clintons and Obama – proof

Giuliani: Police and FBI understand Clinton is corrupt

Rudy Giuliani: Clinton Foundation “is a classic RICO enterprise”, Bribery Op

Giuliani says the case is clearer against Clinton Foundation

Clinton Foundation Gets Millions In Exchange For Uranium Deal – News Brief

Western Journalism

Published on Apr 24, 2015

Hillary Clinton recently launched her presidential campaign promising to be champion for the middle class yet she seems to be more of a champion of herself and foreign governments by accepting hundreds of millions of dollars in donations to her piggy bank – The Clinton Foundation. Canadian businessman Frank JEW-STRA along with Bill and Hillary Clinton were part of a group that built, financed and eventually sold off to the Russians a company that would become known as Uranium One. The Russian government controls Uranium One and now controls 20 percent of America’s uranium supply which it can sell to other countries who are our bitter enemies like Iran. This jeopardizes both our national and energy security. As Secretary of State Hillary Clinton had to be involved in the approval of Uranium One’s sale to Russia.

 

Grassley Seeks Information from FBI Informant in Uranium One Probe

Oct 19, 2017
Reported Justice Department Gag Orders Prevent Accountability of Controversial Obama-Era Deal with Russian Entities
WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) is calling on the Justice Department to lift a reported non-disclosure agreement preventing a former FBI confidential informant from speaking to Congress about the handling of a criminal probe linked to a controversial deal that ceded ownership of U.S. uranium assets to the Russian government.  Despite an ongoing criminal investigation into officials working for subsidiaries of Rosatom, the Russian government entity seeking to acquire ownership of U.S. uranium, the Obama Administration approved the deal. The Justice Department has reportedly threatened to prosecute the informant if he discloses details of his involvement in the investigation.
“The Executive Branch does not have the authority to use non-disclosure agreements to avoid Congressional scrutiny.  If the FBI is allowed to contract itself out of Congressional oversight, it would seriously undermine our Constitutional system of checks and balances.  The Justice Department needs to work with the Committee to ensure that witnesses are free to speak without fear, intimidation or retaliation from law enforcement. Witnesses who want to talk to Congress should not be gagged and threatened with prosecution for talking. If that has happened, senior DOJ leadership needs to fix it and release the witness from the gag order,” Grassley said.
According to recent news reports, a U.S. businessman-turned-confidential informant documented bribes, extortion and money laundering by Russian entities that were attempting to secure U.S. government approval of a deal to acquire Uranium One, which reportedly owned 20 percent of American uranium assets at the time.  According to the news reports, the informant has information regarding payments made by Russian executives to a U.S. entity that supported President Bill Clinton’s foundation.  In 2010, despite an ongoing criminal investigation into officials working for Rosatom subsidiaries, the Obama Administration approved the takeover of Uranium One.
Last week, Grassley asked several federal agencies involved in approving the deal whether they had any knowledge of the ongoing criminal investigation and all communications relating to donations made to the Clinton Foundation by interested parties in the transaction. Those agencies include the Justice Department and State Department.
Grassley has previously raised concerns about the use of non-disclosure agreements by the federal government, specifically, the Justice Department and FBI, as a means of avoiding congressional oversight.
Grassley sent a letter Wednesday to the Justice Department asking for a copy of any reported non-disclosure agreement and calling for it to be lifted.  Grassley also sent a letter to the attorney representing the confidential informant seeking an interview.
Those letters follow:
October 18, 2017
VIA ELECTRONIC TRANSMISSION
The Honorable Jeff Sessions
Attorney General
United States Department of Justice
Washington, D.C. 20220
Dear Attorney General Sessions:
On October 12, 2017, I wrote to several agencies, including the Department of Justice, regarding the Uranium One/Rosatom transaction that was approved by the Committee on Foreign Investment in the United States (CFIUS) during the Obama administration.  In that letter, I noted that the Department had an ongoing criminal investigation into Rosatom officials during the CFIUS approval process and asked, among other things, whether CFIUS was informed of that criminal matter.
On October 18, 2017, The Hill reported that “[a]n American businessman . . . worked for years undercover as an FBI confidential witness” to assist in the Department’s criminal investigation.[1]  According to the reporting, the confidential witness “was asked by the FBI to sign a nondisclosure agreement (NDA) that prevents him from revealing what he knows to Congress.”[2]  Further, the witness’ attorney said, “the Obama Justice Department threatened him with loss of freedom.  They said they would bring a criminal case against him for violating an NDA.”[3]
These restrictions appear to improperly prevent the individual from making critical, good faith disclosures to Congress of potential wrongdoing.  They also purport to limit the Committee’s access to information it needs to fulfill its constitutional responsibility of oversight.  This Committee has oversight jurisdiction of the Justice Department, and if this NDA does in fact exist, it hinders the Committee’s ability to do its job.   Accordingly, please provide a copy of the NDA by November 1, 2017.  In addition, should the NDA exist, I request that you release him from it and pledge not to engage in any form of retaliation against him for good faith communications with Congress.
Should you have further questions, please contact Josh Flynn-Brown or DeLisa Lay of my Committee staff at (202) 224-5225.
Sincerely,
Charles E. Grassley
Chairman
Committee on the Judiciary
October 18, 2017
VIA ELECTRONIC TRANSMISSION
Ms. Victoria Toensing
diGenova & Toensing, LLP
1776 K Street NW
Washington, DC 20006
Dear Ms. Toensing:
On October 12, 2017, I wrote to several agencies, including the Department of Justice, regarding the Uranium One/Rosatom transaction that was approved by the Committee on Foreign Investment in the United States (CFIUS) during the Obama administration.  In that letter, I noted that the Department had an ongoing criminal investigation into Rosatom officials during the CFIUS approval process and asked, among other things, whether CFIUS was informed of that criminal matter.
On October 18, 2017, The Hill reported that you represent a confidential informant used by the FBI during its criminal investigation into Rosatom employees connected to the CFIUS transaction.[4]  Reporting indicates that “the informant’s work was crucial to the government’s ability to crack a multimillion dollar racketeering scheme by Russian nuclear officials on U.S. soil” and that the scheme involved “bribery, kickbacks, money laundering, and extortion.”[5]  Further, the reporting indicates that your client can testify that “FBI agents made comments to him suggesting political pressure was exerted during the Justice Department probe” and “that there was specific evidence that could have scuttled approval of the Uranium One deal.”[6]
It appears that your client possesses unique information about the Uranium One/Rosatom transaction and how the Justice Department handled the criminal investigation into the Russian criminal conspiracy.  Such information is critical to the Committee’s oversight of the Justice Department and its ongoing inquiry into the manner in which CFIUS approved the transaction.  Accordingly, the Committee requests to interview your client.  Please contact Committee staff by October 25, 2017, to arrange the interview.
Thank you for your attention to this important matter.
Sincerely,
Charles E. Grassley
Chairman
Committee on the Judiciary

Bill Clinton sought State’s permission to meet with Russian nuclear official during Obama uranium decision

FBI uncovered Russian bribery plot before Obama administration approved controversial nuclear deal with Moscow

As he prepared to collect a $500,000 payday in Moscow in 2010, Bill Clinton sought clearance from the State Department to meet with a key board director of the Russian nuclear energy firm Rosatom — which at the time needed the Obama administration’s approval for a controversial uranium deal, government records show.

Arkady Dvorkovich, a top aide to then-Russian President Dmitri Medvedev and one of the highest-ranking government officials to serve on Rosatom’s board of supervisors, was listed on a May 14, 2010, email as one of 15 Russians the former president wanted to meet during a late June 2010 trip, the documents show.

“In the context of a possible trip to Russia at the end of June, WJC is being asked to see the business/government folks below. Would State have concerns about WJC seeing any of these folks,” Clinton Foundation foreign policy adviser Amitabh Desai wrote the State Department on May 14, 2010, using the former president’s initials and forwarding the list of names to former Secretary of State Hillary Clinton’s team.The email went to two of Hillary Clinton’s most senior advisers, Jake Sullivan and Cheryl Mills.

The approval question, however, sat inside State for nearly two weeks without an answer, prompting Desai to make multiple pleas for a decision.

“Dear Jake, we urgently need feedback on this. Thanks, Ami,” the former president’s aide wrote in early June.

Sullivan finally responded on June 7, 2010, asking a fellow State official “What’s the deal w this?”

The documents don’t indicate what decision the State Department finally made. But current and former aides to both Clintons told The Hill on Thursday the request to meet the various Russians came from other people, and the ex-president’s aides and State decided in the end not to hold any of the meetings with the Russians on the list.

Bill Clinton instead got together with Vladimir Putin at the Russian leader’s private homestead.

“Requests of this type were run by the State Department as a matter of course. This was yet another one of those instances. Ultimately, President Clinton did not meet with these people,” Angel Urena, the official spokesperson for the former president, told The Hill.

Aides to the ex-president, Hillary Clinton and the Clinton Foundation said Bill Clinton did not have any conversations about Rosatom or the Uranium One deal while in Russia, and that no one connected to the deal was involved in the trip.

A spokesman for Secretary Clinton said Thursday the continued focus on the Uranium One deal smacked of partisan politics aimed at benefiting Donald Trump.

“At every turn this storyline has been debunked on the merits. Its roots are with a project shepherded by Steve Bannon, which should tell you all you need to know,” said Nick Merrill. “This latest iteration is simply more of the right doing Trump’s bidding for him to distract from his own Russia problems, which are real and a grave threat to our national security.”

Current and former Clinton aides told The Hill that the list of proposed business executives the former president planned to meet raised some sensitivities after Bill Clinton’s speaker bureau got the invite for the lucrative speech.

Hillary Clinton had just returned from Moscow and there were concerns about the appearance of her husband meeting with officials so soon after.

In addition, two of the Russians on the former president’s list had pending business that would be intersecting with State.

The first was Dvorkovich, who was a chief deputy to Medvedev and one of the Russian nuclear power industry’s cheerleaders. He also sat on the supervisory board of Rosatom, the state owned atomic energy company that was in the midst of buying a Canadian uranium company called Uranium One

The deal required approval from the Committee on Foreign Investment in the United States (CFIUS), an intergovernmental panel represented by 14 departments and offices that approve transactions and investments by foreign companies for national security purposes. Approval meant that control of 20 percent of U.S. uranium production would be shifting to the Russian-owned Rosatom’s control.

CFIUS approved the transaction in October 2010, saying there was no national security concerns. Hillary Clinton has said she did not intervene in the matter and instead delegated the decision to a lower official, who said he got no pressure from the secretary on any CFIUS matters. Any one of the participating offices and departments could have sought to block the deal by requesting intervention by the president.

The Hill reported earlier this week that the FBI had uncovered evidence that Russian nuclear officials were engaged in a massive bribery scheme before CFIUS approved the deal, raising new questions in Congress and drawing attention from President Trump. Uranium “is the real Russia story,” he told reporters, accusing news media of ignoring the new developments reported in The Hill.

The second person on the list that caught attention was Russian businessman Viktor Vekselberg.

Two days after Hillary Clinton’s visit to Russia, Vekselberg was named by Medvedev to oversee a new technology investment project called Skolkovo, designed to be Russia’s new Silicon Valley, according to media reports.

Hillary Clinton had directly discussed the Skolkovo project with Medvedev, and her State Department was whipping up support for it among U.S. companies, creating the potential appearance for a conflict. She even attended a major event with the Russians in 2010 to promote the project.

“We want to help because we think that it’s in everyone’s interest do so,” she was quoted as saying at the time.

A third issue that emerged was Renaissance Capital, a Russian bank that actually paid the $500,000 speaking fee to the former president for his 90-minute June 29, 2010, speech, one of the largest one-day fees Bill Clinton ever earned.

Renaissance Capital had ties with the Kremlin and was talking up the Uranium One purchase in 2010, giving it an encouraging investment rating in Russia right at the time the U.S. was considering approval of the uranium sale, according to reports in The New York Times in 2015.

The Hill was alerted to Bill Clinton’s attempted meeting with Dvorkovich from a nonpolitical source involved in the FBI investigation into Russian nuclear corruption. The Hill then scoured through thousands of pages of documents released under Freedom of Information Act requests over the past four years and located the Bill Clinton emails in a batch delivered to the conservative group Citizens United.

The head of that group, David Bossie, said Thursday the documents forced into the public by federal lawsuits continue to shed light on new questions arising from Hillary Clinton’s time at State, and that Citizens United still gets documents released almost every month.

“Citizens United continues to unearth important information about the relationship between Hillary Clinton’s State Department and the Clinton Foundation through our ongoing investigations and litigation,” he said.

A source familiar with that FBI investigation says an undercover informant that Congress is currently trying to interview possesses new information about what Russian nuclear officials were doing to try to win approval of the Uranium One deal.

The importance of CFIUS’s approval was highlighted in Rosatom’s annual 2010 report that listed Dvorkovich as one of its supervisor board directors. The report crowed the U.S. approval was one of its most “striking events” of the year and allowed Russia to begin “uranium mining in the United States.”

The head of Rosatom boasted in the report that the Uranium One deal was part of a larger Putin strategy to strengthen “Russia’s prestige as a leader of the world nuclear industry.”

Inside the Clintons’ inner circle, there also was a debate in 2010.

A close associate of Bill Clinton who was directly involved in the Moscow trip and spoke on condition of anonymity, described to The Hill the circumstances surrounding how Bill Clinton landed a $500,000 speaking gig in Russia and then came up with the list of Russians he wanted to meet.

The friend said Hillary Clinton had just returned in late March 2010 from an official trip to Moscow where she met with both Putin and Medvedev. The president’s speaker’s bureau had just received an offer from Renaissance Capital to pay the former president $500,000 for a single speech in Russia.

Documents show Bill Clinton’s personal lawyer on April 5, 2010, sent a conflict of interest review to the State Department asking for permission to give the speech in late June, and it was approved two days later.

The Clinton friend said the former president’s office then began assembling a list of requests to meet with Russian business and government executives whom he could meet on the trip. One of the goals of the trip was to try to help a Clinton family relative “grow investments in their business with Russian oligarchs and other businesses,” the friend told The Hill.

“It was one of the untold stories of the Russia trip. People have focused on Uranium One and the speaking fees, but opening up a business spigot for the family business was one only us insiders knew about,” the friend said.

Conservative author Peter Schweizer, whose 2015 collaboration with The New York Times first raised questions about the Uranium One deal and Clinton donations, said Thursday the new emails were “stunning they add a level of granularity we didn’t have before.”

“We knew of some sort of transactions in which the Clintons received funds and Russia received approvals, and the question has always been how and if those two events are connected,” he said. “I think this provides further evidence the two may be connected.”

http://thehill.com/policy/national-security/356323-bill-clinton-sought-states-permission-to-meet-with-russian-nuclear

 

FBI informant blocked from telling Congress about Russia nuclear corruption case, lawyer says

Lawyer describes how Justice Department kept FBI undercover from telling Congress about Russian nuclear bribery scheme under Obama

An American businessman who worked for years undercover as an FBI confidential witness was blocked by the Obama Justice Department from telling Congress about conversations and transactions he witnessed related to the Russian nuclear industry’s efforts to win favor with Bill and Hillary Clinton and influence Obama administration decisions, his lawyer tells The Hill.

Attorney Victoria Toensing, a former Reagan Justice Department official and former chief counsel of the Senate Intelligence Committee, said Tuesday she is working with members of Congress to see if they can get the Trump Justice Department or the FBI to free her client to talk to lawmakers.

“All of the information about this corruption has not come out,” she said in an interview Tuesday. “And so my client, the same part of my client that made him go into the FBI in the first place, says, ‘This is wrong. What should I do about it?’”

Toensing said she also possesses memos that recount how the Justice Department last year threatened her client when he attempted to file a lawsuit that could have drawn attention to the Russian corruption during the 2016 presidential race as well as helped him recover some of the money Russians stole from him through kickbacks during the FBI probe.The undercover client witnessed “a lot of bribery going on around the U.S.” but was asked by the FBI to sign a nondisclosure agreement (NDA) that prevents him from revealing what he knows to Congress, Toensing explained.

When he tried to bring some of the allegations to light in the lawsuit last year, “the Obama Justice Department threatened him with loss of freedom. They said they would bring a criminal case against him for violating an NDA,” she added.

Emails obtained by The Hill show that a civil attorney working with the former undercover witness described the pressure the Justice Department exerted to keep the client from disclosing to a federal court what he knew last summer.

“The government was taking a very harsh position that threatened both your reputation and liberty,” the civil lawyer wrote in one email. In another, she added, “As you will recall the gov’t made serious threats sufficient to cause you to withdraw your civil complaint.”

Justice Department and FBI officials did not return calls seeking comment.

Federal court records from 2014 and 2015 show that a wide-ranging FBI probe into Russian nuclear industry corruption was facilitated by an unnamed American consultant who worked for the Moscow-based nuclear energy giant Rosatom’s Tenex subsidiary on a multiyear campaign to grow Moscow’s uranium business inside the United States.

Those efforts included winning U.S. approval of Rosatom’s controversial purchase of Canada-based Uranium One’s American uranium assets, securing new approvals to sell new commercial uranium to the federally backed United States Enrichment Corporation and winning billions in new U.S. utility contracts for Russian nuclear fuel.

The court records alternatively refer to the FBI informant as “confidential source 1,” the “contractor” and “Victim 1” without ever naming him. The records make clear he came to the FBI immediately after Russian officials asked him to engage in illegal activity in 2009.

Toensing said the confidential witness identified in those court documents is her client.

Working as a confidential witness, the businessman made kickback payments to the Russians with the approval of his FBI handlers and gathered other evidence, the records show.

Sources told The Hill the informant’s work was crucial to the government’s ability to crack a multimillion dollar racketeering scheme by Russian nuclear officials on U.S. soil that involved bribery, kickbacks, money laundering and extortion. In the end, the main Russian executive sent to the U.S. to expand Russian President Vladimir Putin’s nuclear business, an executive of an American trucking firm and a Russian financier from New Jersey pled guilty to various crimes in a case that started in 2009 and ended in late 2015.

Toensing added her client has had contact from multiple congressional committees seeking information about what he witnessed inside the Russian nuclear industry and has been unable to provide that information because of the NDA.

The information the client possesses includes specific allegations that Russian executives made to him about how they facilitated the Obama administration’s 2010 approval of the Uranium One deal and sent millions of dollars in Russian nuclear funds to the U.S. to an entity assisting Bill Clinton‘s foundation. At the time, Hillary Clinton was serving as secretary of State on the government panel that approved the deal, the lawyer said.

It has been previously reported that Bill Clinton accepted $500,000 in Russian speaking fees in 2010 and collected millions more in donations for his foundation from parties with a stake in the Uranium One deal, transactions that both the Clintons and the Obama administration denied had any influence on the approval.

Federal law requires officials such as then-Secretary Clinton to avoid both conflicts of interest and the appearance of conflicts when it comes to the business and financial interests of a spouse. Clinton signed a special agreement when she became secretary to disclose her husband’s charitable donations to the State Department to avoid any such conflicts. Both Clintons have repeatedly insisted no donations raised by the foundation ever influenced her decisions.

A spokesman and a lawyer for the Clintons did not return calls seeking comment.

Toensing said her client can also testify that FBI agents made comments to him suggesting political pressure was exerted during the Justice Department probe of the Russia corruption case and that there was specific evidence that could have scuttled approval of the Uranium One deal if it became public.

“There was corruption going on and it was never brought forward. And in fact, the sale of the uranium went on despite the government knowing about all of this corruption. So he’s coming forward. He wants the right thing to be done, but he cannot do it unless he is released from the NDA,” she added.

http://thehill.com/policy/national-security/355937-fbi-informant-blocked-from-telling-congress-about-russia-nuclear

Making sense of Russia, uranium and Hillary Clinton

 October 19 at 12:00 PM

President Trump says the “real” Russia story involves a deal on U.S. uranium mines under the Obama administration struck when Hillary Clinton ran the State Department and not the “hoax” collusion story. (Reuters)

To hear Sean Hannity tell it, the media is ignoring “what is becoming the biggest scandal — or, at least, one of them — in American history.”

Hannity is jumping waaay ahead of the facts. So is Breitbart News, which has been running misleading headlines like this: “FBI uncovers confirmation of Hillary Clinton’s corrupt uranium deal with Russia.”

Brent Bozell, founder of the conservative Media Research Center, claims that there is “another coverup in the making.” And President Trump chimed in Thursday morning on Twitter.

Uranium deal to Russia, with Clinton help and Obama Administration knowledge, is the biggest story that Fake Media doesn’t want to follow!

New reporting this week by the Hill has, indeed, added a layer of intrigue to the sale of a uranium mining company to Russia’s atomic energy agency, which was approved by the Clinton-led State Department and eight other U.S. government agencies. But the latest developments, as they relate to Clinton, are not as explosive as certain news outlets — eager to draw attention away from reporting on President Trump and Russia — would have you believe.

Let’s break it down:

What the Hill reported

Journalists John Solomon and Alison Spann reported Tuesday that before the Obama administration approved Russia’s 2010 acquisition of a majority stake in a Canadian firm that owned uranium mines in the American West, the FBI had begun investigating a Kremlin scheme to grow Russia’s influence in the United States’ nuclear industry through corrupt business practices.

Here’s an excerpt:

Federal agents used a confidential U.S. witness working inside the Russian nuclear industry to gather extensive financial records, make secret recordings and intercept emails as early as 2009 that showed Moscow had compromised an American uranium trucking firm with bribes and kickbacks in violation of the Foreign Corrupt Practices Act, FBI and court documents show.

Why the FBI probe matters

Investigators’ findings suggest that maybe it wasn’t such a good idea to let Russia buy the mining company.

Uranium One, as the firm became known under Russian ownership, controls one-fifth of uranium mining capacity in the United States — a sizable share. For this reason alone, the wisdom of approving Russia’s takeover of the company is debatable.

“Since uranium is considered a strategic asset, with implications for national security, the deal had to be approved by a committee composed of representatives from a number of United States government agencies,” including the State Department, the New York Times explained in 2015.

If committee members knew that Russia, as it tried to acquire a large stake in U.S. uranium, was engaged in illegal business, then approving the deal would be even harder to justify.

So, did committee members — especially Clinton — know what the FBI had found?

That’s unclear.

“Multiple current and former government officials told the Hill they did not know whether the FBI or [Justice Department] ever alerted committee members to the criminal activity they uncovered,” Solomon and Spann reported.

This is a key point. In response to the Hill’s report, the Senate Judiciary Committee has asked the agencies that signed off on the deal to disclose what, if anything, they knew about the FBI’s investigation. If it were to turn out that Clinton and others were aware of the FBI’s findings — and ignored them — that could be difficult to explain.

But there is reason to doubt that Clinton would have been in the know. The FBI investigation was still four years from completion at the time that the uranium deal was approved. (One Russian official, Vadim Mikerin, was indicted in 2014 and later sentenced to four years in prison.)

Then there’s this:

Ronald Hosko, who served as the assistant FBI director in charge of criminal cases when the investigation was underway, told the Hill he did not recall ever being briefed about Mikerin’s case by the counterintelligence side of the bureau, despite the criminal charges that were being lodged.

“I had no idea this case was being conducted,” a surprised Hosko said in an interview.

Likewise, major congressional figures were also kept in the dark.

Former Rep. Mike Rogers (R-Mich.), who chaired the House Intelligence Committee during the time the FBI probe was being conducted, told the Hill that he had never been told anything about the Russian nuclear corruption case, even though many fellow lawmakers had serious concerns about the Obama administration’s approval of the Uranium One deal.

If people like Hosko and Rogers did not know about the FBI’s investigation, then Clinton probably didn’t, either.

What about those donations from Russia to the Clinton Foundation?

The New York Times reported in 2015 that “as the Russians gradually assumed control of Uranium One in three separate transactions from 2009 to 2013, Canadian records show, a flow of cash made its way to the Clinton Foundation.”

It is virtually impossible to view these donations as anything other than an attempt to curry favor with Clinton. Donations alone do not, however, prove that Clinton was actually influenced by money to vote in favor of the Uranium One sale — or to overlook the FBI investigation. Again, there is no evidence that she even knew about the investigation.

Similarly, it is virtually impossible to view foreign dignitaries’ habit of lodging at Trump’s Washington hotel as anything other than an attempt to curry favor with the president. Reservations and room service alone do not, however, prove that Trump’s foreign policy is actually influenced by money.

Some people willing to give Trump the benefit of the doubt are denying Clinton the same courtesy.

https://www.washingtonpost.com/news/the-fix/wp/2017/10/19/making-sense-of-russia-uranium-and-hillary-clinton/?utm_term=.a040887beac3

 

Uranium One

From Wikipedia, the free encyclopedia
Uranium One Inc.
Industry Mining
Founded 2005
Headquarters Toronto, OntarioCanada
Key people
Chris Sattler (CEO)
Vadim Zhivov (President)
Products Uranium
Gold
Number of employees
2,220[1]
Parent Rosatom
Website www.uranium1.com

Uranium One is a uranium mining company with headquarters in Toronto, Ontario, Canada. It has operations in AustraliaCanadaKazakhstanSouth Africa and the United States. In January 2013 Rosatom, a Russian State-owned enterprise, through its subsidiary ARMZ Uranium Holding, purchased the company at a value of $1.3 billion.[2]

History

On July 5, 2005, Southern Cross Resources Inc. and Aflease Gold and Uranium Resources Ltd announced that they would be merging under the name SXR Uranium One Inc.[3]

In 2007 Uranium One acquired a controlling interest in UrAsia Energy,[4] a Canadian firm with headquarters in Vancouver, from Frank Giustra.[5] UrAsia Energy has interests in rich uranium operations in Kazakhstan.[6] UrAsia Energy’s acquisition of its Kazakhstan uranium interests from Kazatomprom followed a trip to Almaty in 2005 by Giustra and former U.S. President Bill Clinton where they met with Nursultan Nazarbayev, the leader of Kazakhstan. Substantial contributions to the Clinton Foundation by Giustra followed.[5][7][8] The Podesta Group then lobbied on behalf of Uranium One.[9]

In June 2009, the Russian uranium mining company ARMZ Uranium Holding Co. (ARMZ), a part of Rosatom, acquired 16.6% of shares in Uranium One in exchange for a 50% interest in the Karatau uranium mining project, a joint venture with Kazatomprom.[10] In June 2010, Uranium One acquired 50% and 49% respective interests in southern Kazakhstan-based Akbastau and Zarechnoye uranium mines from ARMZ. In exchange, ARMZ increased its stake in Uranium One to 51%. The acquisition resulted in a 60% annual production increase at Uranium One, from approximately 10 million to 16 million lb.[11][12] The deal was subject to anti-trust and other conditions and was not finalized until the companies received Kazakh regulatory approvals, approval under Canadian investment law, clearance by the US Committee on Foreign Investments, and approvals from both the Toronto and Johannesburg stock exchanges. The deal was finalized by the end of 2010.[12] Uranium One paid its minority shareholders a significant dividend of 1.06 United States Dollars at the end of 2010.

ARMZ took complete control of Uranium One in January 2013[2] in a transaction which was reviewed by the Committee on Foreign Investment in the United States.[7] In December 2013 an internal reorganization of Rosatom extinguished the interest of ARMZ making Uranium One a direct subsidiary of Rosatom.[3]

See also

References

  1. Jump up^ “Company Profile for Uranium One Inc (CA;UUU)”. Retrieved 2008-10-10.
  2. Jump up to:a b Commodities; Mining (2013-01-14). “Uranium One bought by top Russian shareholder ARMZ for $1.3-billion”Financial Post. Retrieved 2017-08-31.
  3. Jump up to:a b WISE Uranium Project “Following the completion of the Going Private Transaction, and an internal reorganization by ARMZ’s parent corporation, Russia’s State Atomic Energy Company ‘Rosatom’ in December 2013, Uranium One is now a wholly owned indirect subsidiary of Rosatom and is no longer controlled by ARMZ.” updated April 1, 2015, accessed April 23, 2015
  4. Jump up^ Kazakhstan probing sales of uranium deposit shares
  5. Jump up to:a b An Ex-President, a Mining Deal and a Big Donor, by Jo Becker and Don Van Natta Jr., The New York Times: January 31, 2008
  6. Jump up^ “UrAsia Energy Ltd.” updated 21 April 2007, accessed 23 April 2015
  7. Jump up to:a b Jo Becker and Mike Mcintire (April 23, 2015). “Cash Flowed to Clinton Foundation as Russians Pressed for Control of Uranium Company”The New York Times. Retrieved April 23, 2015Canadian mining financier Frank Giustra orchestrated his first big uranium deal, with Mr. Clinton at his side.
  8. Jump up^ Jo Becker and Don Van Natta Jr. (January 31, 2008). “After Mining Deal, Financier Donated to Clinton”The New York Times. Retrieved April 23, 2015The monster deal stunned the mining industry, turning an unknown shell company into one of the world’s largest uranium producers in a transaction ultimately worth tens of millions of dollars to Mr. Giustra, analysts said.
  9. Jump up^ H. A. Goodman: General Michael Flynn Was Right To Discuss Obama’s Sanctions With Russian Ambassador, The Huffington Post, October 24, 2016
  10. Jump up^ “Kazakh tie-in for Uranium One and ARMZ”. World Nuclear News. 2009-06-15. Retrieved 2009-06-24.
  11. Jump up^ Uranium One to Acquire Two More Kazakh Mines from ARMZ and To Pay Special Dividend to Minority Shareholders of at least US$ 1.06 per Share
  12. Jump up to:a b “ARMZ takes hold of Uranium One”. World Nuclear News. 2010-06-09. Retrieved 2010-06-09.

External links

https://en.wikipedia.org/wiki/Uranium_One

 

Racketeer Influenced and Corrupt Organizations Act

From Wikipedia, the free encyclopedia
Racketeer Influenced and Corrupt Organizations Act
Great Seal of the United States
Long title An Act relating to the control of organized crime in the United States
Acronyms(colloquial)
  • OCCA
  • RICO
Nicknames Organized Crime Control Act of 1970
Enacted by the 91st United States Congress
Effective October 15, 1970
Citations
Public law 91-452
Statutes at Large 84 Stat. 922-3 aka 84 Stat. 941
Codification
Titles amended 18 U.S.C.: Crimes and Criminal Procedure
U.S.C.sections created 18 U.S.C. §§ 19611968
Legislative history
  • Introduced in the Senate as S. 30 by John L. McClellan (DAR)
  • Passed the Senate on January 23, 1970 (74-1)
  • Passed the House on October 7, 1970 (341-26)
  • Signed into law by President Richard Nixon onOctober 15, 1970

The Racketeer Influenced and Corrupt Organizations Act, commonly referred to as the RICO Act or simply RICO, is a United States federal law that provides for extended criminal penalties and a civil cause of action for acts performed as part of an ongoing criminal organization. The RICO Act focuses specifically on racketeering, and it allows the leaders of a syndicate to be tried for the crimes which they ordered others to do or assisted them in doing, closing a perceived loophole that allowed a person who instructed someone else to, for example, murder, to be exempt from the trial because they did not actually commit the crime personally.[1]

RICO was enacted by section 901(a) of the Organized Crime Control Act of 1970 (Pub.L. 91–452, 84 Stat. 922, enacted October 15, 1970), and is codified at 18 U.S.C. ch. 96 as 18 U.S.C. §§ 19611968G. Robert Blakey, an adviser to the United States Senate Government Operations Committee, drafted the law under the close supervision of the committee’s chairman, Senator John Little McClellan. It was enacted as Title IX of the Organized Crime Control Act of 1970, and signed into law by Richard M. Nixon. While its original use in the 1970s was to prosecute the Mafia as well as others who were actively engaged in organized crime, its later application has been more widespread.

Beginning in 1972, 33 states adopted state RICO laws to be able to prosecute similar conduct.

Summary

Under RICO, a person who has committed “at least two acts of racketeering activity” drawn from a list of 35 crimes—27 federal crimes and 8 state crimes—within a 10-year period can be charged with racketeering if such acts are related in one of four specified ways to an “enterprise”.[citation needed] Those found guilty of racketeering can be fined up to $25,000 and sentenced to 20 years in prison per racketeering count.[citation needed] In addition, the racketeer must forfeit all ill-gotten gains and interest in any business gained through a pattern of “racketeering activity.”[citation needed]

When the U.S. Attorney decides to indict someone under RICO, they have the option of seeking a pre-trial restraining order or injunction to temporarily seize a defendant’s assets and prevent the transfer of potentially forfeitable property, as well as require the defendant to put up a performance bond. This provision was placed in the law because the owners of Mafia-related shell corporations often absconded with the assets. An injunction and/or performance bond ensures that there is something to seize in the event of a guilty verdict.

In many cases, the threat of a RICO indictment can force defendants to plead guilty to lesser charges, in part because the seizure of assets would make it difficult to pay a defense attorney. Despite its harsh provisions, a RICO-related charge is considered easy to prove in court, as it focuses on patterns of behavior as opposed to criminal acts.[2]

RICO also permits a private individual “damaged in his business or property” by a “racketeer” to file a civil suit. The plaintiff must prove the existence of an “enterprise”. The defendant(s) are not the enterprise; in other words, the defendant(s) and the enterprise are not one and the same.[3] There must be one of four specified relationships between the defendant(s) and the enterprise: either the defendant(s) invested the proceeds of the pattern of racketeering activity into the enterprise (18 U.S.C. § 1962(a)); or the defendant(s) acquired or maintained an interest in, or control of, the enterprise through the pattern of racketeering activity (subsection (b)); or the defendant(s) conducted or participated in the affairs of the enterprise “through” the pattern of racketeering activity (subsection (c)); or the defendant(s) conspired to do one of the above (subsection (d)).[4] In essence, the enterprise is either the ‘prize,’ ‘instrument,’ ‘victim,’ or ‘perpetrator’ of the racketeers.[5] A civil RICO action can be filed in state or federal court.[6]

Both the criminal and civil components allow the recovery of treble damages (damages in triple the amount of actual/compensatory damages).

Although its primary intent was to deal with organized crime, Blakey said that Congress never intended it to merely apply to the Mob. He once told Time, “We don’t want one set of rules for people whose collars are blue or whose names end in vowels, and another set for those whose collars are white and have Ivy League diplomas.”[2]

Initially, prosecutors were skeptical of using RICO, mainly because it was unproven. The RICO Act was first used by the U.S. Attorney’s Office in the Southern District of New York on September 18, 1979, in the United States v. Scotto. Scotto, who was convicted on charges of racketeering, accepting unlawful labor payments, and income tax evasion, headed the International Longshoreman’s Association. During the 1980s and 1990s, federal prosecutors used the law to bring charges against several Mafia figures. The second major success was the Mafia Commission Trial, which resulted in several top leaders of New York City’s Five Families getting what amounted to life sentences. By the turn of the century, RICO cases resulted in virtually all of the top leaders of the New York Mafia being sent to prison.

State laws

Beginning in 1972, 33 states, as well as Puerto Rico and the US Virgin Islands, adopted state RICO laws to cover additional state offenses under a similar scheme.[7]

RICO predicate offenses

Under the law, the meaning of racketeering activity is set out at 18 U.S.C. § 1961. As currently amended it includes:

Pattern of racketeering activity requires at least two acts of racketeering activity, one of which occurred after the effective date of this chapter and the last of which occurred within ten years (excluding any period of imprisonment) after the commission of a prior act of racketeering activity. The U.S. Supreme Court has instructed federal courts to follow the continuity-plus-relationship test in order to determine whether the facts of a specific case give rise to an established pattern. Predicate acts are related if they “have the same or similar purposes, results, participants, victims, or methods of commission, or otherwise are interrelated by distinguishing characteristics and are not isolated events.” (H.J. Inc. v. Northwestern Bell Telephone Co.) Continuity is both a closed and open ended concept, referring to either a closed period of conduct, or to past conduct that by its nature projects into the future with a threat of repetition.

Application of RICO laws

Although some of the RICO predicate acts are extortion and blackmail, one of the most successful applications of the RICO laws has been the ability to indict and or sanction individuals for their behavior and actions committed against witnesses and victims in alleged retaliation or retribution for cooperating with federal law enforcement or intelligence agencies.

Violations of the RICO laws can be alleged in civil lawsuit cases or for criminal charges. In these instances charges can be brought against individuals or corporations in retaliation for said individuals or corporations working with law enforcement. Further, charges can also be brought against individuals or corporations who have sued or filed criminal charges against a defendant.

Anti-SLAPP (strategic lawsuit against public participation) laws can be applied in an attempt to curb alleged abuses of the legal system by individuals or corporations who use the courts as a weapon to retaliate against whistle blowers, victims, or to silence another’s speech. RICO could be alleged if it can be shown that lawyers and/or their clients conspired and collaborated to concoct fictitious legal complaints solely in retribution and retaliation for themselves having been brought before the courts.

Although the RICO laws may cover drug trafficking crimes in addition to other more traditional RICO predicate acts such as extortion, blackmail, and racketeering, large-scale and organized drug networks are now commonly prosecuted under the Continuing Criminal Enterprise Statute, also known as the “Kingpin Statute”. The CCE laws target only traffickers who are responsible for long-term and elaborate conspiracies, whereas the RICO law covers a variety of organized criminal behaviors.[8]

Famous cases

Hells Angels Motorcycle Club

In 1979 the United States Federal Government went after Sonny Barger and several members and associates of the Oakland charter of the Hells Angels using RICO. In United States vs. Barger, the prosecution team attempted to demonstrate a pattern of behavior to convict Barger and other members of the club of RICO offenses related to guns and illegal drugs. The jury acquitted Barger on the RICO charges with a hung jury on the predicate acts: “There was no proof it was part of club policy, and as much as they tried, the government could not come up with any incriminating minutes from any of our meetings mentioning drugs and guns.”[9][10]

Frank Tieri

On November 21, 1980, Genovese crime family boss Frank “Funzi” Tieri was the first Mafia boss to be convicted under the RICO Act.[citation needed]

Catholic sex abuse cases

In some jurisdictions, RICO suits have been filed against Catholic dioceses, using anti-racketeering laws to prosecute the highers-up in the episcopacy for abuses committed by those under their authority[citation needed]. E.g. a Cleveland grand jury cleared two bishops of racketeering charges, finding that their mishandling of sex abuse claims did not amount to criminal racketeering[citation needed]. Notably, a similar suit was not filed against Cardinal Bernard Law, then Archbishop/Emeritus of Boston, prior to his assignment to Vatican City.[11][12] In 2016, RICO charges were considered for cover-ups in Pennsylvania.[13]

Gil Dozier

Louisiana Commissioner of Agriculture and Forestry Gil Dozier, in office from 1976 to 1980, faced indictment with violations of both the Hobbs and the RICO laws. He was accused of compelling companies doing business with his department to make campaign contributions on his behalf. On September 23, 1980, the Baton Rouge-based United States District Court for the Middle District of Louisiana convicted Dozier of five counts of extortion and racketeering. The sentence of ten years imprisonment, later upgraded to eighteen when other offenses were determined, and a $25,000 fine was suspended pending appeal, and Dozier remained free on bail.[14] He eventually served nearly four years until a presidential commutation freed him in 1986.[15]

Key West PD

About June 1984 the Key West Police Department located in the County of Monroe, Florida, was declared a criminal enterprise under the federal RICO statutes after a lengthy United States Department of Justice investigation. Several high-ranking officers of the department, including Deputy Police Chief Raymond Cassamayor, were arrested on federal charges of running a protection racket for illegal cocaine smugglers.[16] At trial, a witness testified he routinely delivered bags of cocaine to the Deputy Chief’s office at City Hall.[17]

Michael Milken

On 29 March 1989 American financier Michael Milken was indicted on 98 counts of racketeering and fraud relating to an investigation into an allegation of insider trading and other offenses. Milken was accused of using a wide-ranging network of contacts to manipulate stock and bond prices. It was one of the first occasions that a RICO indictment was brought against an individual with no ties to organized crime. Milken pleaded guilty to six lesser felonies of securities fraud and tax evasion rather than risk spending the rest of his life in prison and ended up serving 22 months in prison. Milken was also ordered banned for life from the securities industry.[18]

On 7 September 1988, Milken’s employer, Drexel Burnham Lambert, was threatened with RICO charges respondeat superior, the legal doctrine that corporations are responsible for their employees’ crimes. Drexel avoided RICO charges by entering an Alford plea to lesser felonies of stock parking and stock manipulation. In a carefully worded plea, Drexel said it was “not in a position to dispute the allegations” made by the Government. If Drexel had been indicted under RICO statutes, it would have had to post a performance bond of up to $1 billion to avoid having its assets frozen. This would have taken precedence over all of the firm’s other obligations—including the loans that provided 96 percent of its capital base. If the bond ever had to be paid, its shareholders would have been practically wiped out. Since banks will not extend credit to a firm indicted under RICO, an indictment would have likely put Drexel out of business.[19] By at least one estimate, a RICO indictment would have destroyed the firm within a month.[20] Years later, Drexel president and CEO Fred Joseph said that Drexel had no choice but to plead guilty because “a financial institution cannot survive a RICO indictment.”[21]

Major League Baseball

In 2002, the former minority owners of the Montreal Expos baseball team filed charges under the RICO Act against Major League Baseball commissioner Bud Selig and former Expos owner Jeffrey Loria, claiming that Selig and Loria deliberately conspired to devalue the team for personal benefit in preparation for a move.[22] If found liable, Major League Baseball could have been responsible for up to $300 million in punitive damages. The case lasted two years, successfully stalling the Expos’ move to Washington or contraction during that time. It was eventually sent to arbitration where the arbiters ruled in favor of Major League Baseball,[23] permitting the move to Washington to take place.

Pro-life activists

RICO laws were successfully cited in NOW v. Scheidler, 510 U.S. 249, 114 S. Ct. 798, 127 L.Ed. 2d 99 (1994), a suit in which certain parties, including the National Organization for Women, sought damages and an injunction against pro-life activists who physically block access to abortion clinics. The Court held that a RICO enterprise does not need an economic motive, and that the Pro-Life Action Network could therefore qualify as a RICO enterprise. The Court remanded for consideration of whether PLAN committed the requisite acts in a pattern of racketeering activity.

Los Angeles Police Department

In April 2000, federal judge William J. Rea in Los Angeles, ruling in one Rampart scandal case, said that the plaintiffs could pursue RICO claims against the LAPD, an unprecedented finding. The idea that a police organization could be characterized as a racketeering enterprise shook up City Hall and further damaged the already-tarnished image of the LAPD. However, in July 2001, U.S. District Judge Gary A. Feess said that the plaintiffs do not have standing to sue the LAPD under RICO because they are alleging personal injuries, rather than economic or property damage.[24]

Mohawk Industries

On April 26, 2006, the Supreme Court heard Mohawk Industries, Inc. v. Williams, No. 05-465547 U.S. 516 (2006), which concerned what sort of corporations fell under the scope of RICO. Mohawk Industries had allegedly hired illegal aliens, in violation of RICO. The court was asked to decide whether Mohawk Industries, along with recruiting agencies, constitutes an ‘enterprise’ that can be prosecuted under RICO, but in June of that year dismissed the case and remanded it to Court of Appeals.[25]

Latin Kings

On August 20, 2006, in Tampa, Florida, most of the state leadership members of the street gang, the Latin Kings, were arrested in connection with RICO conspiracy charges to engage in racketeering and currently await trial. The operation, called “Broken Crown”, targeted statewide leadership of the Latin Kings. The raid occurred at the Caribbean American Club. Along with Hillsborough County Sheriff’s OfficeTampa Police Department, the State Attorney’s Office, the FBIImmigration and Customs Enforcement, and the federal Bureau of Alcohol, Tobacco and Firearms were involved in the operation. Included in the arrest were leader Gilberto Santana from Brooklyn NY, Captain Luis Hernandez from Miami FL, Affiliate Celina Hernandez, Affiliate Michael Rocca, Affiliate Jessica Ramirez, Affiliate Reinaldo Arroyo, Affiliate Samual Alvarado, Omari Tolbert, Edwin DeLeon, and many others, totaling 39.

Gambino crime family

Also, in Tampa, on October 16, 2006, four members of the Gambino crime family (Capo Ronald Trucchio, Terry Scaglione, Steven Catallono, Anthony Mucciarone and associate Kevin McMahon) were tried under RICO statutes, found guilty and sentenced to life in prison.

Lucchese Crime Family

In the mid 1990s, prosecuting attorneys Gregory O’Connell and Charles Rose used RICO charges to bring down the Lucchese family within an 18-month period. Dismantling the Lucchese family had a profound financial impact on previously Mafia held businesses such as construction, garment, and garbage hauling. Here they dominated and extorted money through taxes, dues, and fees. An example of this extortion was through the garbage business. Hauling of garbage from the World Trade Center cost the building owners $1.2 million per year to be removed when the Mafia monopolized the business, as compared to $150,000 per year when competitive bids could be sought.[26]

Chicago Outfit

[citation needed]

In 2005, the U.S. Department of Justice‘s Operation Family Secrets indicted 15 Chicago Outfit (also known as the Outfit, the Chicago Mafia, the Chicago Mob, or The Organization) members and associates under RICO predicates. Five defendants were convicted of RICO violations and other crimes. Six plead guilty, two died before trial and one was too sick to be tried.

Michael Conahan and Mark Ciavarella

A federal grand jury in the Middle District of Pennsylvania handed down a 48-count indictment against former Luzerne County Court of Common Pleas Judges Michael Conahan and Mark Ciavarella.[27] The judges were charged with RICO after allegedly committing acts of mail and wire fraudtax evasionmoney laundering, and honest services fraud. The judges were accused of taking kickbacks for housing juveniles, that the judges convicted of mostly petty crimes, at a private detention center. The incident was dubbed by many local and national newspapers as the “Kids for cash scandal“.[28] On February 18, 2011, a federal jury found Michael Ciavarella guilty of racketeering because of his involvement in accepting illegal payments from Robert Mericle, the developer of PA Child Care, and Attorney Robert Powell, a co-owner of the facility. Ciavarella is facing 38 other counts in federal court.[29]

Scott W. Rothstein

Scott W. Rothstein is a disbarred lawyer and the former managing shareholder, chairman, and chief executive officer of the now-defunct Rothstein Rosenfeldt Adler law firm. He was accused of funding his philanthropy, political contributions, law firm salaries, and an extravagant lifestyle with a massive 1.2 billion dollar Ponzi scheme. On December 1, 2009, Rothstein turned himself in to federal authorities and was subsequently arrested on charges related to RICO.[30] Although his arraignment plea was not guilty, Rothstein cooperated with the government and reversed his plea to guilty of five federal crimes on January 27, 2010. Bond was denied by U.S. Magistrate Judge Robin Rosenbaum, who ruled that due to his ability to forge documents, he was considered a flight risk.[31] On June 9, 2010, Rothstein received a 50-year prison sentence after a hearing in federal court in Fort Lauderdale.[32]

AccessHealthSource

Eleven defendants were indicted on RICO charges for allegedly assisting AccessHealthSource, a local health care provider, in obtaining and maintaining lucrative contracts with local and state government entities in the city of El Paso, Texas, “through bribery of and kickbacks to elected officials or himself and others, extortion under color of authority, fraudulent schemes and artifices, false pretenses, promises and representations and deprivation of the right of citizens to the honest services of their elected local officials” (see indictment).[33]

FIFA

Fourteen defendants affiliated with FIFA were indicted under the RICO act on 47 counts for “racketeering, wire fraud and money laundering conspiracies, among other offenses, in connection with the defendants’ participation in a 24-year scheme to enrich themselves through the corruption of international soccer.” The defendants include many current and former high-ranking officers of FIFA and its affiliate CONCACAF. The defendants had allegedly used the enterprise as a front to collect millions of dollars in bribes which may have influenced Russia and Qatar’s winning bids to host the 2018 and 2022 FIFA World Cups respectively.[34]

Drummond Company

In 2015, the Drummond Company sued attorneys Terrence P. Collingsworth and William R. Scherer, the advocacy group International Rights Advocates (IRAdvocates), and Dutch businessman Albert van Bilderbeek, one of the owners of Llanos Oil, accusing them of violating RICO by alleging that Drummond had worked alongside Autodefensas Unidas de Colombia to murder labor union leaders within proximity of their Colombian coal mines, which Drummond denies.[35]

Connecticut Senator Len Fasano

In 2005, a federal jury ordered Fasano to pay $500,000 under RICO for illegally helping a client hide their assets in a bankruptcy case.[36]

Art Cohen vs. Donald J. Trump

Art Cohen vs. Donald J. Trump was a RICO[37] class action suit filed October 18, 2013,[38] accusing Donald Trump of misrepresenting Trump University “to make tens of millions of dollars” but delivering “neither Donald Trump nor a university.”[37] The case was being heard in U.S. District Court for the Southern District of California in San Diego, No. 3:2013cv02519,[39] by Judge Gonzalo P. Curiel.[38] It was scheduled for argument beginning November 28, 2016.[40] However, just 20 days before that date and shortly after Trump won the presidential election, this case and two others were settled for a total of $25 million and without any admission of wrongdoing by Trump.[41][42]

International equivalents to RICO

The US RICO legislation has other equivalents in the rest of the world. In spite of Interpol having a standardized definition of RICO-like crimes, the interpretation and national implementation in legislation (and enforcement) widely varies. Most nations cooperate with the US on RICO enforcement only where their own related laws are specifically broken, but this is in line with the Interpol protocols for such matters.

By nation, alphabetically

Without other nations enforcing similar legislation to RICO many cross border RICO cases would not be possible. In the overall body of RICO cases that went to trial, at least 50% have had some non-US enforcement component to them. The offshoring of money away from the US finance system as part racketeering (and especially money laundering) is typically a major contributing factor to this.

However, other countries have laws that enable the government to seize property with unlawful origins. Mexico and Colombia both have specific laws that define the participation in criminal organizations as a separate crime,[45] and separate laws that allow the seizure of goods related with these crimes.[46] This latter provides a specific chapter titled “International Cooperation”, which instructs Mexican authorities to cooperate with foreign authorities with respect to organized crime assets within Mexico, and provides the framework by which Mexican authorities may politely request the cooperation of foreign authorities with respect to assets located outside of Mexico, in terms of any international instruments they may be party to.

Arguably, this may be construed as allowing the application of the RICO Act in Mexico, provided the relevant international agreements exist among Mexico and countries with RICO or RICO-equivalent provisions.

See also

References

Cash Flowed to Clinton Foundation Amid Russian Uranium Deal

The headline on the website Pravda trumpeted President Vladimir V. Putin’s latest coup, its nationalistic fervor recalling an era when its precursor served as the official mouthpiece of the Kremlin: “Russian Nuclear Energy Conquers the World.”

The article, in January 2013, detailed how the Russian atomic energy agency, Rosatom, had taken over a Canadian company with uranium-mining stakes stretching from Central Asia to the American West. The deal made Rosatom one of the world’s largest uranium producers and brought Mr. Putin closer to his goal of controlling much of the global uranium supply chain.

But the untold story behind that story is one that involves not just the Russian president, but also a former American president and a woman who would like to be the next one.

At the heart of the tale are several men, leaders of the Canadian mining industry, who have been major donors to the charitable endeavors of former President Bill Clinton and his family. Members of that group built, financed and eventually sold off to the Russians a company that would become known as Uranium One.

Beyond mines in Kazakhstan that are among the most lucrative in the world, the sale gave the Russians control of one-fifth of all uranium production capacity in the United States. Since uranium is considered a strategic asset, with implications for national security, the deal had to be approved by a committee composed of representatives from a number of United States government agencies. Among the agencies that eventually signed off was the State Department, then headed by Mr. Clinton’s wife, Hillary Rodham Clinton.

As the Russians gradually assumed control of Uranium One in three separate transactions from 2009 to 2013, Canadian records show, a flow of cash made its way to the Clinton Foundation. Uranium One’s chairman used his family foundation to make four donations totaling $2.35 million. Those contributions were not publicly disclosed by the Clintons, despite an agreement Mrs. Clinton had struck with the Obama White House to publicly identify all donors. Other people with ties to the company made donations as well.

And shortly after the Russians announced their intention to acquire a majority stake in Uranium One, Mr. Clinton received $500,000 for a Moscow speech from a Russian investment bank with links to the Kremlin that was promoting Uranium One stock.

Photo

Frank Giustra, right, a mining financier, has donated $31.3 million to the foundation run by former President Bill Clinton, left.CreditJoaquin Sarmiento/Agence France-Presse — Getty Images

At the time, both Rosatom and the United States government made promises intended to ease concerns about ceding control of the company’s assets to the Russians. Those promises have been repeatedly broken, records show.

The New York Times’s examination of the Uranium One deal is based on dozens of interviews, as well as a review of public records and securities filings in Canada, Russia and the United States. Some of the connections between Uranium One and the Clinton Foundation were unearthed by Peter Schweizer, a former fellow at the right-leaning Hoover Institution and author of the forthcoming book “Clinton Cash.” Mr. Schweizer provided a preview of material in the book to The Times, which scrutinized his information and built upon it with its own reporting.

Whether the donations played any role in the approval of the uranium deal is unknown. But the episode underscores the special ethical challenges presented by the Clinton Foundation, headed by a former president who relied heavily on foreign cash to accumulate $250 million in assets even as his wife helped steer American foreign policy as secretary of state, presiding over decisions with the potential to benefit the foundation’s donors.

In a statement, Brian Fallon, a spokesman for Mrs. Clinton’s presidential campaign, said no one “has ever produced a shred of evidence supporting the theory that Hillary Clinton ever took action as secretary of state to support the interests of donors to the Clinton Foundation.” He emphasized that multiple United States agencies, as well as the Canadian government, had signed off on the deal and that, in general, such matters were handled at a level below the secretary. “To suggest the State Department, under then-Secretary Clinton, exerted undue influence in the U.S. government’s review of the sale of Uranium One is utterly baseless,” he added.

American political campaigns are barred from accepting foreign donations. But foreigners may give to foundations in the United States. In the days since Mrs. Clinton announced her candidacy for president, the Clinton Foundation has announced changes meant to quell longstanding concerns about potential conflicts of interest in such donations; it has limited donations from foreign governments, with many, like Russia’s, barred from giving to all but its health care initiatives. That policy stops short of a more stringent agreement between Mrs. Clinton and the Obama administration that was in effect while she was secretary of state.

Either way, the Uranium One deal highlights the limits of such prohibitions. The foundation will continue to accept contributions from foreign sources whose interests, like Uranium One’s, may overlap with those of foreign governments, some of which may be at odds with the United States.

When the Uranium One deal was approved, the geopolitical backdrop was far different from today’s. The Obama administration was seeking to “reset” strained relations with Russia. The deal was strategically important to Mr. Putin, who shortly after the Americans gave their blessing sat down for a staged interview with Rosatom’s chief executive, Sergei Kiriyenko. “Few could have imagined in the past that we would own 20 percent of U.S. reserves,” Mr. Kiriyenko told Mr. Putin.

Now, after Russia’s annexation of Crimea and aggression in Ukraine, the Moscow-Washington relationship is devolving toward Cold War levels, a point several experts made in evaluating a deal so beneficial to Mr. Putin, a man known to use energy resources to project power around the world.

“Should we be concerned? Absolutely,” said Michael McFaul, who served under Mrs. Clinton as the American ambassador to Russia but said he had been unaware of the Uranium One deal until asked about it. “Do we want Putin to have a monopoly on this? Of course we don’t. We don’t want to be dependent on Putin for anything in this climate.”

A Seat at the Table

The path to a Russian acquisition of American uranium deposits began in 2005 in Kazakhstan, where the Canadian mining financier Frank Giustra orchestrated his first big uranium deal, with Mr. Clinton at his side.

The two men had flown aboard Mr. Giustra’s private jet to Almaty, Kazakhstan, where they dined with the authoritarian president, Nursultan A. Nazarbayev. Mr. Clinton handed the Kazakh president a propaganda coup when he expressed support for Mr. Nazarbayev’s bid to head an international elections monitoring group, undercutting American foreign policy and criticism of Kazakhstan’s poor human rights record by, among others, his wife, then a senator.

Within days of the visit, Mr. Giustra’s fledgling company, UrAsia Energy Ltd., signed a preliminary deal giving it stakes in three uranium mines controlled by the state-run uranium agency Kazatomprom.

If the Kazakh deal was a major victory, UrAsia did not wait long before resuming the hunt. In 2007, it merged with Uranium One, a South African company with assets in Africa and Australia, in what was described as a $3.5 billion transaction. The new company, which kept the Uranium One name, was controlled by UrAsia investors including Ian Telfer, a Canadian who became chairman. Through a spokeswoman, Mr. Giustra, whose personal stake in the deal was estimated at about $45 million, said he sold his stake in 2007.

Soon, Uranium One began to snap up companies with assets in the United States. In April 2007, it announced the purchase of a uranium mill in Utah and more than 38,000 acres of uranium exploration properties in four Western states, followed quickly by the acquisition of the Energy Metals Corporation and its uranium holdings in Wyoming, Texas and Utah. That deal made clear that Uranium One was intent on becoming “a powerhouse in the United States uranium sector with the potential to become the domestic supplier of choice for U.S. utilities,” the company declared.

Still, the company’s story was hardly front-page news in the United States — until early 2008, in the midst of Mrs. Clinton’s failed presidential campaign, when The Times published an article revealing the 2005 trip’s link to Mr. Giustra’s Kazakhstan mining deal. It also reported that several months later, Mr. Giustra had donated $31.3 million to Mr. Clinton’s foundation.

(In a statement issued after this article appeared online, Mr. Giustra said he was “extremely proud” of his charitable work with Mr. Clinton, and he urged the media to focus on poverty, health care and “the real challenges of the world.”)

Though the 2008 article quoted the former head of Kazatomprom, Moukhtar Dzhakishev, as saying that the deal required government approval and was discussed at a dinner with the president, Mr. Giustra insisted that it was a private transaction, with no need for Mr. Clinton’s influence with Kazakh officials. He described his relationship with Mr. Clinton as motivated solely by a shared interest in philanthropy.

As if to underscore the point, five months later Mr. Giustra held a fund-raiser for the Clinton Giustra Sustainable Growth Initiative, a project aimed at fostering progressive environmental and labor practices in the natural resources industry, to which he had pledged $100 million. The star-studded gala, at a conference center in Toronto, featured performances by Elton John and Shakira and celebrities like Tom Cruise, John Travolta and Robin Williams encouraging contributions from the many so-called F.O.F.s — Friends of Frank — in attendance, among them Mr. Telfer. In all, the evening generated $16 million in pledges, according to an article in The Globe and Mail.

“None of this would have been possible if Frank Giustra didn’t have a remarkable combination of caring and modesty, of vision and energy and iron determination,” Mr. Clinton told those gathered, adding: “I love this guy, and you should, too.”

But what had been a string of successes was about to hit a speed bump.

Arrest and Progress

By June 2009, a little over a year after the star-studded evening in Toronto, Uranium One’s stock was in free-fall, down 40 percent. Mr. Dzhakishev, the head of Kazatomprom, had just been arrested on charges that he illegally sold uranium deposits to foreign companies, including at least some of those won by Mr. Giustra’s UrAsia and now owned by Uranium One.

Publicly, the company tried to reassure shareholders. Its chief executive, Jean Nortier, issued a confident statement calling the situation a “complete misunderstanding.” He also contradicted Mr. Giustra’s contention that the uranium deal had not required government blessing. “When you do a transaction in Kazakhstan, you need the government’s approval,” he said, adding that UrAsia had indeed received that approval.

But privately, Uranium One officials were worried they could lose their joint mining ventures. American diplomatic cables made public by WikiLeaks also reflect concerns that Mr. Dzhakishev’s arrest was part of a Russian power play for control of Kazakh uranium assets.

At the time, Russia was already eying a stake in Uranium One, Rosatom company documents show. Rosatom officials say they were seeking to acquire mines around the world because Russia lacks sufficient domestic reserves to meet its own industry needs.

It was against this backdrop that the Vancouver-based Uranium One pressed the American Embassy in Kazakhstan, as well as Canadian diplomats, to take up its cause with Kazakh officials, according to the American cables.

“We want more than a statement to the press,” Paul Clarke, a Uranium One executive vice president, told the embassy’s energy officer on June 10, the officer reported in a cable. “That is simply chitchat.” What the company needed, Mr. Clarke said, was official written confirmation that the licenses were valid.

The American Embassy ultimately reported to the secretary of state, Mrs. Clinton. Though the Clarke cable was copied to her, it was given wide circulation, and it is unclear if she would have read it; the Clinton campaign did not address questions about the cable.

What is clear is that the embassy acted, with the cables showing that the energy officer met with Kazakh officials to discuss the issue on June 10 and 11.

Three days later, a wholly owned subsidiary of Rosatom completed a deal for 17 percent of Uranium One. And within a year, the Russian government substantially upped the ante, with a generous offer to shareholders that would give it a 51 percent controlling stake. But first, Uranium One had to get the American government to sign off on the deal.

The Power to Say No

When a company controlled by the Chinese government sought a 51 percent stake in a tiny Nevada gold mining operation in 2009, it set off a secretive review process in Washington, where officials raised concerns primarily about the mine’s proximity to a military installation, but also about the potential for minerals at the site, including uranium, to come under Chinese control. The officials killed the deal.

Such is the power of the Committee on Foreign Investment in the United States. The committee comprises some of the most powerful members of the cabinet, including the attorney general, the secretaries of the Treasury, Defense, Homeland Security, Commerce and Energy, and the secretary of state. They are charged with reviewing any deal that could result in foreign control of an American business or asset deemed important to national security.

The national security issue at stake in the Uranium One deal was not primarily about nuclear weapons proliferation; the United States and Russia had for years cooperated on that front, with Russia sending enriched fuel from decommissioned warheads to be used in American nuclear power plants in return for raw uranium.

Among the Donors to the Clinton Foundation

Frank Giustra
$31.3 million and a pledge for $100 million more
He built a company that later merged with Uranium One.
Ian Telfer
$2.35 million
Mining investor who was chairman of Uranium One when an arm of the Russian government, Rosatom, acquired it.
Paul Reynolds
$1 million to $5 million
Adviser on 2007 UrAsia-Uranium One merger. Later helped raise $260 million for the company.
Frank Holmes
$250,000 to $500,000
Chief Executive of U.S. Global Investors Inc., which held $4.7 million in Uranium One shares in the first quarter of 2011.
Neil Woodyer
$50,000 to $100,000
Adviser to Uranium One. Founded Endeavour Mining with Mr. Giustra.
GMP Securities Ltd.
Donating portion of profits
Worked on debt issue that raised $260 million for Uranium One.

Instead, it concerned American dependence on foreign uranium sources. While the United States gets one-fifth of its electrical power from nuclear plants, it produces only around 20 percent of the uranium it needs, and most plants have only 18 to 36 months of reserves, according to Marin Katusa, author of “The Colder War: How the Global Energy Trade Slipped From America’s Grasp.”

“The Russians are easily winning the uranium war, and nobody’s talking about it,” said Mr. Katusa, who explores the implications of the Uranium One deal in his book. “It’s not just a domestic issue but a foreign policy issue, too.”

When ARMZ, an arm of Rosatom, took its first 17 percent stake in Uranium One in 2009, the two parties signed an agreement, found in securities filings, to seek the foreign investment committee’s review. But it was the 2010 deal, giving the Russians a controlling 51 percent stake, that set off alarm bells. Four members of the House of Representatives signed a letter expressing concern. Two more began pushing legislation to kill the deal.

Senator John Barrasso, a Republican from Wyoming, where Uranium One’s largest American operation was, wrote to President Obama, saying the deal “would give the Russian government control over a sizable portion of America’s uranium production capacity.”

Photo

President Putin during a meeting with Rosatom’s chief executive, Sergei Kiriyenko, in December 2007.CreditDmitry Astakhov/Ria Novosti, via Agence France-Presse — Getty Images

“Equally alarming,” Mr. Barrasso added, “this sale gives ARMZ a significant stake in uranium mines in Kazakhstan.”

Uranium One’s shareholders were also alarmed, and were “afraid of Rosatom as a Russian state giant,” Sergei Novikov, a company spokesman, recalled in an interview. He said Rosatom’s chief, Mr. Kiriyenko, sought to reassure Uranium One investors, promising that Rosatom would not break up the company and would keep the same management, including Mr. Telfer, the chairman. Another Rosatom official said publicly that it did not intend to increase its investment beyond 51 percent, and that it envisioned keeping Uranium One a public company

American nuclear officials, too, seemed eager to assuage fears. The Nuclear Regulatory Commission wrote to Mr. Barrasso assuring him that American uranium would be preserved for domestic use, regardless of who owned it.

“In order to export uranium from the United States, Uranium One Inc. or ARMZ would need to apply for and obtain a specific NRC license authorizing the export of uranium for use as reactor fuel,” the letter said.

Still, the ultimate authority to approve or reject the Russian acquisition rested with the cabinet officials on the foreign investment committee, including Mrs. Clinton — whose husband was collecting millions in donations from people associated with Uranium One.

Undisclosed Donations

Before Mrs. Clinton could assume her post as secretary of state, the White House demanded that she sign a memorandum of understanding placing limits on the activities of her husband’s foundation. To avoid the perception of conflicts of interest, beyond the ban on foreign government donations, the foundation was required to publicly disclose all contributors.

To judge from those disclosures — which list the contributions in ranges rather than precise amounts — the only Uranium One official to give to the Clinton Foundation was Mr. Telfer, the chairman, and the amount was relatively small: no more than $250,000, and that was in 2007, before talk of a Rosatom deal began percolating.

Photo

Uranium One’s Russian takeover was approved by the United States while Hillary Rodham Clinton was secretary of state. CreditDoug Mills/The New York Times

But a review of tax records in Canada, where Mr. Telfer has a family charity called the Fernwood Foundation, shows that he donated millions of dollars more, during and after the critical time when the foreign investment committee was reviewing his deal with the Russians. With the Russians offering a special dividend, shareholders like Mr. Telfer stood to profit.

His donations through the Fernwood Foundation included $1 million reported in 2009, the year his company appealed to the American Embassy to help it keep its mines in Kazakhstan; $250,000 in 2010, the year the Russians sought majority control; as well as $600,000 in 2011 and $500,000 in 2012. Mr. Telfer said that his donations had nothing to do with his business dealings, and that he had never discussed Uranium One with Mr. or Mrs. Clinton. He said he had given the money because he wanted to support Mr. Giustra’s charitable endeavors with Mr. Clinton. “Frank and I have been friends and business partners for almost 20 years,” he said.

The Clinton campaign left it to the foundation to reply to questions about the Fernwood donations; the foundation did not provide a response.

Mr. Telfer’s undisclosed donations came in addition to between $1.3 million and $5.6 million in contributions, which were reported, from a constellation of people with ties to Uranium One or UrAsia, the company that originally acquired Uranium One’s most valuable asset: the Kazakh mines. Without those assets, the Russians would have had no interest in the deal: “It wasn’t the goal to buy the Wyoming mines. The goal was to acquire the Kazakh assets, which are very good,” Mr. Novikov, the Rosatom spokesman, said in an interview.

Amid this influx of Uranium One-connected money, Mr. Clinton was invited to speak in Moscow in June 2010, the same month Rosatom struck its deal for a majority stake in Uranium One.

The $500,000 fee — among Mr. Clinton’s highest — was paid by Renaissance Capital, a Russian investment bank with ties to the Kremlin that has invited world leaders, including Tony Blair, the former British prime minister, to speak at its investor conferences.

Renaissance Capital analysts talked up Uranium One’s stock, assigning it a “buy” rating and saying in a July 2010 research report that it was “the best play” in the uranium markets. In addition, Renaissance Capital turned up that same year as a major donor, along with Mr. Giustra and several companies linked to Uranium One or UrAsia, to a small medical charity in Colorado run by a friend of Mr. Giustra’s. In a newsletter to supporters, the friend credited Mr. Giustra with helping get donations from “businesses around the world.”

Photo

John Christensen sold the mining rights on his ranch in Wyoming to Uranium One.CreditMatthew Staver for The New York Times

Renaissance Capital would not comment on the genesis of Mr. Clinton’s speech to an audience that included leading Russian officials, or on whether it was connected to the Rosatom deal. According to a Russian government news service, Mr. Putin personally thanked Mr. Clinton for speaking.

A person with knowledge of the Clinton Foundation’s fund-raising operation, who requested anonymity to speak candidly about it, said that for many people, the hope is that money will in fact buy influence: “Why do you think they are doing it — because they love them?” But whether it actually does is another question. And in this case, there were broader geopolitical pressures that likely came into play as the United States considered whether to approve the Rosatom-Uranium One deal.

Diplomatic Considerations

If doing business with Rosatom was good for those in the Uranium One deal, engaging with Russia was also a priority of the incoming Obama administration, which was hoping for a new era of cooperation as Mr. Putin relinquished the presidency — if only for a term — to Dmitri A. Medvedev.

“The assumption was we could engage Russia to further core U.S. national security interests,” said Mr. McFaul, the former ambassador.

It started out well. The two countries made progress on nuclear proliferation issues, and expanded use of Russian territory to resupply American forces in Afghanistan. Keeping Iran from obtaining a nuclear weapon was among the United States’ top priorities, and in June 2010 Russia signed off on a United Nations resolution imposing tough new sanctions on that country.

Two months later, the deal giving ARMZ a controlling stake in Uranium One was submitted to the Committee on Foreign Investment in the United States for review. Because of the secrecy surrounding the process, it is hard to know whether the participants weighed the desire to improve bilateral relations against the potential risks of allowing the Russian government control over the biggest uranium producer in the United States. The deal was ultimately approved in October, following what two people involved in securing the approval said had been a relatively smooth process.

Not all of the committee’s decisions are personally debated by the agency heads themselves; in less controversial cases, deputy or assistant secretaries may sign off. But experts and former committee members say Russia’s interest in Uranium One and its American uranium reserves seemed to warrant attention at the highest levels.

Photo

Moukhtar Dzhakishev was arrested in 2009 while the chief of Kazatomprom.CreditDaniel Acker/Bloomberg, via Getty Images

“This deal had generated press, it had captured the attention of Congress and it was strategically important,” said Richard Russell, who served on the committee during the George W. Bush administration. “When I was there invariably any one of those conditions would cause this to get pushed way up the chain, and here you had all three.”

And Mrs. Clinton brought a reputation for hawkishness to the process; as a senator, she was a vocal critic of the committee’s approval of a deal that would have transferred the management of major American seaports to a company based in the United Arab Emirates, and as a presidential candidate she had advocated legislation to strengthen the process.

The Clinton campaign spokesman, Mr. Fallon, said that in general, these matters did not rise to the secretary’s level. He would not comment on whether Mrs. Clinton had been briefed on the matter, but he gave The Times a statement from the former assistant secretary assigned to the foreign investment committee at the time, Jose Fernandez. While not addressing the specifics of the Uranium One deal, Mr. Fernandez said, “Mrs. Clinton never intervened with me on any C.F.I.U.S. matter.”

Mr. Fallon also noted that if any agency had raised national security concerns about the Uranium One deal, it could have taken them directly to the president.

Anne-Marie Slaughter, the State Department’s director of policy planning at the time, said she was unaware of the transaction — or the extent to which it made Russia a dominant uranium supplier. But speaking generally, she urged caution in evaluating its wisdom in hindsight.

“Russia was not a country we took lightly at the time or thought was cuddly,” she said. “But it wasn’t the adversary it is today.”

That renewed adversarial relationship has raised concerns about European dependency on Russian energy resources, including nuclear fuel. The unease reaches beyond diplomatic circles. In Wyoming, where Uranium One equipment is scattered across his 35,000-acre ranch, John Christensen is frustrated that repeated changes in corporate ownership over the years led to French, South African, Canadian and, finally, Russian control over mining rights on his property.

“I hate to see a foreign government own mining rights here in the United States,” he said. “I don’t think that should happen.”

Mr. Christensen, 65, noted that despite assurances by the Nuclear Regulatory Commission that uranium could not leave the country without Uranium One or ARMZ obtaining an export license — which they do not have — yellowcake from his property was routinely packed into drums and trucked off to a processing plant in Canada.

Asked about that, the commission confirmed that Uranium One has, in fact, shipped yellowcake to Canada even though it does not have an export license. Instead, the transport company doing the shipping, RSB Logistic Services, has the license. A commission spokesman said that “to the best of our knowledge” most of the uranium sent to Canada for processing was returned for use in the United States. A Uranium One spokeswoman, Donna Wichers, said 25 percent had gone to Western Europe and Japan. At the moment, with the uranium market in a downturn, nothing is being shipped from the Wyoming mines.

The “no export” assurance given at the time of the Rosatom deal is not the only one that turned out to be less than it seemed. Despite pledges to the contrary, Uranium One was delisted from the Toronto Stock Exchange and taken private. As of 2013, Rosatom’s subsidiary, ARMZ, owned 100 percent of it.

Correction: April 23, 2015 
An earlier version of this article misstated, in one instance, the surname of a fellow at the Hoover Institution. He is Peter Schweizer, not Schweitzer.An earlier version also incorrectly described the Clinton Foundation’s agreement with the Obama administration regarding foreign-government donations while Hillary Rodham Clinton was secretary of state. Under the agreement, the foundation would not accept new donations from foreign governments, though it could seek State Department waivers in specific cases. It was not barred from accepting all foreign-government donations.
Correction: April 30, 2015 
An article on Friday about contributions to the Clinton Foundation from people associated with a Canadian uranium-mining company described incorrectly the foundation’s agreement with the Obama administration regarding foreign-government donations while Hillary Clinton was secretary of state. Under the agreement, the foundation would not accept new donations from foreign governments, though it could seek State Department waivers in specific cases. The foundation was not barred from accepting all foreign-government donations.

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The Pronk Pops Show 985, Story 1: Fed Draining The Swamp — A Flattening Treasury Yield Curve Indicator of Possible Recession Especially If Republican Controlled Congress Fails To Totally and Completely Repeal and Replace Obamacare and Passes Trump’s Timid Tiny Targeted Temporary Tax Cut For Middle Class — Replace All Federal Taxes With A Broad Based Consumption Tax With Generous Tax Prebates And Balanced Budgets — FairTax or Fair Tax Less That Democrats, Republicans and Independents Would Pass — Otherwise Recession in 2018 –Videos

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Image result for cartoons on trump's tax cut

Story 1: Fed Draining The Swamp — A Flattening Treasury Yield Curve Indicator of Possible Recession Especially If Republican Controlled Congress Fails To Totally and Completely Repeal and Replace Obamacare and Passes Trump’s Timid Tiny Targeted Temporary Tax Cut For Middle Class — Replace All Federal Taxes With A Broad Based Consumption Tax With Generous Tax Prebates And Balanced Budgets — FairTax or Fair Tax Less That Democrats, Republicans and Independents Would Pass — Otherwise Recession in 2018 –Videos

US Economy: Where We Are Right Now

Major Economic Crash + Recession coming 2018

GE’s CEO Says the U.S. Economy Is in Investment Recession

Wilbur Ross: Trump’s tax reductions will grow the economy

Wilbur Ross: U.S. Recession Likely in Next 18 Months

PETER SCHIFF STOCK MARKET CRASH IS COMING OCTOBER 2017

A Great Crash Is Coming! Stock Market Crash Imminent Economic Collapse In 2017 – 2018

Jim Rogers (October 14, 2017) – What will collapse first

Jim Rogers (October 09, 2017) – Expects the worst crash in our lifetime

RAY DALIO: US economy looks like 1937 and we need to be careful

Jim Rickards (October 02, 2017) – The Coming Big Freeze – The Daily Reckoning

Analyzing Trump’s Tax Plan

🔴 Ep. 287: Pros and Cons of the Trump Tax Plan

Ben Shapiro: The analysis of President Trump’s tax reform plan (audio from 09-28-2017)

TAX PLAN: Insane Bernie Attacks Trump! | Louder With Crowder

LIMBAUGH: Trump’s Tax Plan Is NOT A Tax Break For The Rich

Tax Cuts Mean Nothing So Long As We Refuse to Nationalize and Control the Federal Reserve

G. Edward Griffin: Donald Trump is an Amazing Phenomenon

G. Edward Griffin — The Federal Reserve, Taxes, The I.R.S. & Solutions

Jim Rickards (October 02, 2017) – Fed to Cause A Recession

Jim Rickards (September 25, 2017) – Collapse & War with N Korea

Greenspan: You Can’t Fix U.S. Economy Until You Fix Entitlements

Keiser Report: Is US really a 3% GDP economy? (E1119)

Robert Shiller // Why it’s become hard to predict the markets

Nassim Taleb on Black Monday, Fed, Market Lessons

Nassim Nicholas Taleb Sees Greater Risks Than Nuclear War

Nassim Nicholas Taleb Sees Worse Tail Risks Than in 2007

Keiser Report: Gutting of America’s Wealth Creation Machine (E1097)

David Stockman // Black swan event to trigger a deep correction

David Stockman // Tax cut, reform will fall apart

Ep. 292: Record Confidence in U.S. Stocks Means Trouble Ahead

Stockman: Trump’s Now ‘Blowing Kisses to Janet Yellen’ (Fox Business, September 15, 2017)

Jim Rogers // The next bear market will be the worst in our lifetime

Stock Market Party Coming To An End Warns Marc Faber – (Part 1/3)

Marc Faber // Get ready for a massive stock market decline

Marc FABER (NEW REPORT) – Making America Broke Again: Trump & The Inevitable Financial Crisis

Sam Zell // This is not a time to ‘buy anything’

MUST SEE! U.S Economic Outlook: 3 Recession Indicators Flashing Red

A flatter yield curve says the market isn’t worried about inflation

What is Yield Curve?

Introduction to the yield curve | Stocks and bonds | Finance & Capital Markets | Khan Academy

The Inverted Yield Curve, Lecture 016, Securities Investment 101, Video00018

We Can Pretend All We Want, The US Is In A Recession & Heading For The Big One – Episode 1311a

YIELD CURVE GETTING READY TO INVERT?

Jim Rickards on Keiser Report: We don’t need to worry about a recession; we’re in a depression

Published on May 23, 2013

Neil Howe — The really big crisis has yet to arrive!

Neil Howe and William Strauss on The Fourth Turning in 1997 CSpan

Neil Howe and William Strauss on Generations in 1998 CSpan

Neil Howe: It’s going to get worse; more financial crises coming

The Fourth Turning: Why American ‘Crisis’ May Last Until 2030

 

Bond market flashing warning sign even as stocks rally to new highs

  • Bond pros are watching a phenomenon in the bond market that could signal recession ahead and trouble for the stock market.
  • The yield curve is flattening, meaning the spread between 2-year note yields and 10-year yields is narrowing, and at 0.75, it was the lowest since before the financial crisis.
  • Even though the move is a warning, strategists say some of the action has to do with the Fed reversing long-term easing policy and may not be a problem for stocks.

Bond market flashing warning sign even as stocks rally to new highs

Bond market flashing warning sign even as stocks rally to new highs  

The bond market is warning that trouble could be on the horizon, either from an economic slowdown or an eventual recession.

The yield curve, a set of interest rates watched closely by bond market pros, has gotten to its flattest level since before the financial crisis. The spread between 2-year note yields and 10-year yields this week reached near the lows, at about 0.75, it has been since before the financial crisis.

“It certainly is giving you some sort of signal in here. The signals are when the yield curve flattens, it tells you that inflation is not a problem and the Fed is doing something at the front end,” said David Ader, Informa Financial Intelligence chief macro strategist. “Historically, it signals a slowdown or recession.”

But with the Federal Reserve set to raise interest rates in December, and uncertainty about who the next Fed chief will be, there are also other concerns in the market, including that a new Fed head could be more hawkish and set the Fed on a more rapid rate-hiking course.

“It’s also telling you there could be a policy error in the Fed’s hiking particularly if they accelerate it,” said Ader. Bank of America Merrill Lynch’s monthly fund manager survey showed that fund managers in October believe the biggest risk for markets is a central bank policy misstep.

Treasurys on the move  

Some strategists say ignore it at your own peril, but others point to the fact that stocks can still rally when longer-duration interest rates are low but the short-term rate is rising.

The fear is that a flattening yield curve could lead to an inversion, meaning the short-end rate would actually go higher than the longer-end yield. That is typically viewed as a recession signal, and the flattening curve is a warning of that.

“Typically you eventually get to a much flatter yield that could lead to a recession,” said Peter Boockvar, chief market analyst with the Lindsey Group. “Right now it’s hard to get to inversion because of how actually low short-term interest rates are. You don’t need to get to the inversion this time.”

Jeff Gundlach, CEO of DoubleLine, weighed in on Twitter, pointing out that stock market bulls point to low rates as a positive, yet rates are climbing. The 2-year yield was at a new nine-year high Wednesday, touching 1.57 percent, while the 10-year was at 2.34 percent.

2 year Tsy yield back on the rise. Should accelerate w/ a close above 1.56%. Keep hearing SPX P/E OK due to low rates. But they are rising.

Strategists say years of quantitative easing by global central banks and extreme low interest rates cast doubt on some of the conventional wisdom about bond behavior. For instance, the Fed is also slowing down its purchases of Treasurys, mostly at the short end, and that could be influencing the behavior of the curve.

“I think it’s the expectation that further Fed tightening, whether it’s on the short end or it’s the quantitative tightening, is eventually going to slow the U.S. economy, and that’s what the yield curve is saying, while the stock market is drunk on hopes for tax reform,” Boockvar said. At the same time, expectations for a Fed rate hike at its December meeting continue to rise.

Wealth manager: bond markets are creating the 'biggest financial crisis of our lifetime'

Wealth manager: Bond markets are creating the ‘biggest financial crisis of our lifetime’  

Dallas Fed President Rob Kaplan said the low rate of the 10-year may not be because of easy financial conditions. “That may be a sign of worry about future growth,” Kaplan told reporters after participating on a panel with New York Fed President William Dudley about regional economic trends.

Source: Strategas Research

Todd Sohn, technical analyst at Strategas, looked at the behavior of the stock market during periods of flattening yield curves, and he found that until the curve actually inverted, stocks performed very well. In some cases, it took awhile for stocks to react when the curve inverted.

“It’s on our mind,” he said. “But until you get the inversion I don’t think we should put too much weight on it. Equity performance is still positive.”

Sohn said as the curve flattened between August 1977 and August 1978, for example, the S&P 500 gained 7 percent. But after the curve inverted in August 1978, the S&P corrected, falling about 14 percent from September to mid-November.

As the curve flattened between July 1988 and January 1989, the S&P was up 9 percent. But Sohn said after the curve inverted in January 1989, the S&P went uninterrupted until October 1989, when it corrected about 10 percent through February 1990. Then it saw a 20 percent correction from July 1990 to October 1990.

“The curve inversion in June 1998 saw a sharp 19 percent S&P correction from mid-July 1998 and the end of August 1998… before the race higher into the March 2000 peak,” he noted.

Just ahead of the financial crisis, the curve inverted in January 2006. There was a shallow 8 percent correction from May to June 2006, and stocks moved higher until October 2007.

“It’s very case-by-case but curve inversion does typically lead to some form of a correction,” Sohn noted. “We’re not there yet but just something worth keeping in mind.”

https://www.cnbc.com/2017/10/18/bond-market-flashing-warning-sign-even-as-stocks-rally-to-new-highs.html

Here’s how the Fed is flattening the yield curve

Published: Oct 18, 2017 2:42 p.m. ET

‘There is a sense that the market is getting ahead of itself’: BMO

Photo by Justin Sullivan/Getty Images
One way to flatten things.

By SUNNYOH

Traders betting on a steeper yield curve are being thwarted by two factors: a Federal Reserve intent on raising rates and lackluster inflation. This potent combination is making for the flattest yield curve by one measure in nearly a decade.

The yield curve is a line plotting the yields across Treasury maturities from the shortest dated to the longest, and can reflect investor expectations for growth and inflation. A flatter curve is seen as a sign investors are worried about growth.

SeeShould investors still worry if the yield curve sends this ominous signal?

After four rate increases in the current hiking cycle, the spread between the 5-year yield TMUBMUSD05Y, +2.22%   and the 30-year yield TMUBMUSD30Y, +1.78%   one way to assess the curve’s steepness, narrowed to 0.86 percentage point. The curve has flattened steadily since Donald Trump’s presidential election victory last November sparked a selloff in long-dated Treasurys on fears that his pro-growth agenda would spur inflation. Yields and bond prices move in opposite directions.

The dramatic speed of the flattening has surprised investors. In the past four tightening cycles, the gap between the 5-year yield and the 30-year yield narrowed on average by 0.98 percentage point. But after peaking at 3.02 percentage points in November 2010, the spread has tightened by 2.18 percentage points.

“There is a sense that the market is getting ahead of itself in the aggressiveness of the flattening currently underway,” wrote Ian Lyngen and Aaron Kohli, fixed-income strategists at BMO Capital Markets.

ReadInvestors fear a Fed policy misstep as central bank reaffirms rate-hike trajectory

Traders tend to concentrate on the spread between the 5-year yield and the 30-year yield versus other measures of the curve. The 5-year yield can serve as a more accurate reflection of market expectations for short-term rates than the 2-year yieldTMUBMUSD02Y, +2.41%  , which is largely under the central bank’s control, said Tim Alt, director of currencies and rates at Aviva Investors.

At the long end of the curve, the 30-year yield has slipped as inflation expectations weaken. Investors demand more of a yield premium when they fear inflation is on the rise because inflation erodes the purchasing power of future cash flows.

“It is the lack of inflation and anemic term premium that are exaggerating the move,” wrote Lyngen and Kohli. The term premium refers to the extra yield investors need to be compensated for buying a long-dated bond if short-term yields do not develop as expected.

The narrowing term premium reflects the newfound transparency of the Federal Reserve under Chairwoman Janet Yellen and former chairman Ben Bernanke, said Marvin Loh, senior fixed-income strategist at BNY Mellon.

Since the Fed’s September policy meeting, investors have been inundated with speeches from central bankers. Every voting member of the Fed’s interest-rate setting body has delivered public remarks, many more than once, giving market participants a clear idea of the central bank’s plans, as well as factors that could forestall the current tightening path.

On the flip side, the central bank’s push to telegraph its intentions have also helped power short-dated yields TMUBMUSD02Y, +2.41%   to their highest level since the recession. Dallas Fed President Robert Kaplan highlighted this trend, saying the central bank should raise rates one more time this year on Tuesday. The Federal Reserve has signaled further rate rises on the assumption that tightness in labor markets will spur wage growth and, in turn, inflation.

But inflation has been absent in recent months. The Fed’s preferred inflation measure, known as the personal consumption expenditures deflator, was 1.43% year-over-year in August, a steady descent from the five-year high of 2.18% notched in February.

Nonetheless, Yellen has tried to get ahead of the curve, adding to investors’ concerns that a lack of price pressures will not put off the central bank’s plan to see interest rates move higher.

Also readFed flunks econ 101: understanding inflation

http://www.marketwatch.com/story/heres-how-the-fed-is-flattening-the-yield-curve-2017-10-18

One Of These 3 Black Swans Will Likely Trigger A Global Recession By End Of 2018

 Opinions expressed by Forbes Contributors are their own.

Shutterstock

Exactly ten years ago, we were months way from a world-shaking financial crisis.

By late 2006, we had an inverted yield curve steep to be a high-probability indicator of recession. I estimated at that time that the losses would be $400 billion at a minimum. Yet, most of my readers and fellow analysts told me I was way too bearish.

Turned out the losses topped well over $2 trillion and triggered the financial crisis and Great Recession.

Conditions in the financial markets needed only a spark from the subprime crisis to start a firestorm all over the world. Plenty of things were waiting to go wrong, and it seemed like they all did at the same time.

We don’t have an inverted yield curve now. But when the central bank artificially holds down short-term rates, it is difficult, if not almost impossible, for the yield curve to invert.

We have effectively suppressed the biggest warning signal.

But there is another recession in our future (there is always another recession), which I think will ensue by the end of 2018. And it’s going to be at least as bad as the last one was in terms of the global pain it causes.

Below are three scenarios that may turn out to be fateful black swans. But remember this: A harmless white swan can look black in the right lighting conditions. Sometimes, that’s all it takes to start a panic.

Black Swan #1: Yellen Overshoots

It is clear that the U.S. economy is not taking off like the rocket some predicted after the election:

  • President Trump and the Republicans haven’t been able to pass any of the fiscal stimulus measures we hoped to see.
  • Banks and energy companies are getting some regulatory relief, and that helps, but it’s a far cry from the sweeping health care reform, tax cuts and infrastructure spending we were promised.
  • Consumer spending is still weak, so people may be less confident than the sentiment surveys suggest. Inflation has perked up in certain segments like health care and housing, but otherwise it’s still low to nonexistent.

Is this, by any stretch of the imagination, the kind of economy in which the Federal Reserve should be tightening monetary policy? No—yet the Fed is doing so.

It’s in part because they waited too long to end QE and to begin reducing their balance sheet. FOMC members know they are behind the curve, and they want to pay lip service to doing something before their terms end.

Plus, Janet Yellen, Stanley Fischer and the other FOMC members are religiously devoted to the Phillips curve.

The black-swan risk here is that the Fed will tighten too much, too soon.

We know from recent FOMC minutes that some members have turned hawkish in part because they wanted to offset expected fiscal stimulus from the incoming administration. That stimulus has not been coming, but the FOMC is still acting as if it will be.

What happens when the Fed raises interest rates in the early, uncertain stages of a recession instead of lowering them? Logic suggests the Fed will curb any inflation pressure that exists and push the economy into outright deflation.

Deflation in an economy as debt-burdened as ours could be catastrophic.

Let me make an uncomfortable prediction: I think the Trump Fed—and since Trump will appoint at least six members of the FOMC in the coming year, it will be his Fed—will take us back down the path of massive quantitative easing and perhaps even to negative rates if we enter a recession.

The urge to “do something,” or at least be seen as trying to do something, is just going to be too strong.

https://www.forbes.com/sites/johnmauldin/2017/07/27/one-of-these-3-black-swans-will-likely-trigger-a-global-recession-by-end-of-2018/#520a1131875f

4 Non-Reasons For Recession In 2018

 Opinions expressed by Forbes Contributors are their own.

Forecasts of a recession next year are nothing new. In early 2016, I noticed analysts saying we might are already be in recession. One source quoted perennial bear Peter Schiff, another interviewed Jim Grant, and gold bug David Haggith wrote that we definitely were in recession. Not only did 2016 turn out to be not a recession, but it looks like 2017 won’t be either.

Dr. Bill Conerly based on Wall Street Journal survey.

Risk of Recession

Recessions don’t just happen randomly, nor do they occur because the expansion is old, nor do they come about because a certain person is in the White House. There is always a trigger, so we’ll go through the usual causes of recession.

1. Overly tight monetary policy is the most common cause of recession, but is unlikely right now. Here in the United States, the Federal Reserve caused or played a large role in the recessions of 1973-74, 1980, 1982, 1990 and 2001. I’ve heard it argued monetary policy was overly tight in 2008, but I don’t buy that as the cause of that recession, but perhaps the cause of the anemic recovery.

 Risk of Recession

Could monetary policy be tight enough to trigger a recession in 2018? Keep in mind that monetary policy acts with long time lags, so a December rate hike wouldn’t do much damage in the following year. The Fed’s rate hikes this year total one-half a percentage point, with perhaps one or two more on the way. (That’s the Fed’s own guess; mine is no more rate hikes this year.)

When the Fed moves strongly, it pushes short-term interest rates about three percentage points in a year. (1969, 1973, 1979, 1981, 1989) In the past six months, short-term interest rates have risen three-quarters of a percent—hardly a recessionary change.

 Yield curve June 2017 and 2016
Dr. Bill Conerly based on Federal Reserve data.

Yield curve June 2017 and 2016

The yield curve is a common expression of monetary policy and works pretty well as a predictive indicator. When interest rates are plotted against time to maturity—one month Treasury notes on the left and 30-year bonds on the right—then the shape of the curve is a good leading indicator. The normal shape is for the curve to rise, meaning higher interest rates are paid on bonds of longer maturity. Recessions are frequently preceded by an inverted yield curve, meaning short-term interest rates are higher than long-term interest rates. Right now the curve is very normal, and the last year’s shift upward has been an almost parallel move, with little change in the relationship between short-term rates and long-term rates. I see no recession coming from tight monetary policy, at least in the usual way.

The unusual way relates to the Fed’s reduction of its holdings of long-term securities, which will push interest rates up. This is uncharted territory. As the Fed had never before engaged in massive quantitative easing, it also never unwound a past massive easing. Two considerations are in order. First, the Fed won’t be too aggressive in its unwinding. If they see their actions pushing up long-term interest rates too quickly, they will hold off on further asset sales. Worrying about time lags—that the Fed won’t see their errors soon enough to ward off recession—makes senses, but it’s not certain.

The second consideration is that long-term interest rates are determined globally, by the world’s demand for credit compared to its supply of savings. The U.S is a big part of the global financial market, but it’s not the whole thing.

https://www.forbes.com/sites/billconerly/2017/07/19/4-non-reasons-for-recession-in-2018/#19da4731616c

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Image result for President Trump DECERTIFIES the Iran Nuclear Deal

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Story 1: Trump Administration Does Not Certify Iran Nuclear  Agreement If Congress Does Not Act — Videos —

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President Trump DECERTIFIES the Iran Nuclear Deal | Full Speech 10/13/17

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Trump decertifies Iran nuclear deal, slaps sanctions on IRGC in broadside at ‘radical regime’

President Trump announced Friday he will decertify the 2015 Iran nuclear deal, saying he believes the “radical regime” has committed multiple violations of the agreement as he kicked a decision over whether to restore sanctions back to Congress.

“I am announcing today that we cannot and will not make this certification,” Trump said during a speech at the White House. “We will not continue down a path whose predictable conclusion is more violence, more terror, and the very real threat of Iran’s nuclear breakthrough.”

Friday’s announcement does not withdraw the United States from the Iran deal, which the president called “one of the worst and most one-sided transactions the United States has ever entered into.”

“In the event we are not able to reach a solution working with Congress and our allies, the agreement will be terminated,” he said. “It is under continuous review and our participation can be canceled by me as president at any time.”

Speaking to reporters ahead of Trump’s speech, Secretary of State Rex Tillerson said the president will use the Congressional Iran Nuclear Agreement Review Act to decertify the agreement, which was negotiated over 18 months by the Obama administration.

Congress could then decide to restore sanctions, do nothing or make changes to the law. Trump is pressing Congress to work to fix the deal’s “flaws.”

IRAN NUCLEAR DEAL: WHAT IS IT?

In making his decision, Trump said, “Iran is not living up to the spirit of the deal.” Among other alleged violations, Trump said Iran failed to meet expectations in its operation of advanced centrifuges and intimidated international inspectors into not using their full authority.

The president also slammed sunset provisions in the deal itself, complaining that the U.S. got a “weak inspection” in exchange for a “short-term” delay in Iran’s nuclear progress.

Trump, meanwhile, announced plans to take action against the Islamic Revolutionary Guard Corps, authorizing the Treasury Department to impose targeted sanctions against “its officials, agents, and affiliates.”

“Execution of our strategy begins with a long overdue step of imposing tough sanctions on Iran’s Islamic Revolutionary Guard Corps,” Trump said. “The revolutionary guard is the Iranian supreme leader’s corrupt personal terror force and militia.”

In his broadside against the Iranian regime, the president said it “remains the world’s leading state sponsor of terrorism,” accusing it of providing assistance to Al Qaeda, the Taliban, Hezbollah and other terrorist networks.

The president accused Iran of developing missiles that threaten American troops and allies and imprisoning Americans “on false charges.”

“Given the regime’s murderous past and present, we should not take lightly its sinister vision for the future,” Trump said. “The regimes two favorite chants are ‘Death to America’ and ‘Death to Israel.’”

The president did not designate the IRGC a terrorist group, something that had been rumored ahead of the announcement. In the run-up to the decision, Iranian officials threatened consequences if that occurred.

“If the news is correct about the stupidity of the American government in considering the Revolutionary Guards a terrorist group, then the Revolutionary Guards will consider the American army to be like Islamic State all around the world,” IRGC commander Mohammad Ali Jafari said Sunday, according to Reuters.

The National Resistance Council of Iran, an offshoot organization of the People’s Mojahedin Organization of Iran (MEK), praised Trump’s move in support of the de-certification.

Mrs. Maryam Rajavi, President-elect of the National Council of Resistance of Iran (NCRI), welcomed the new U.S. policy to “condemn the IRGC’s gross violations of human rights” in Iran.

“The regime’s deadly meddling in the region and concessions made to it in the course of the JCPOA (Joint Comprehensive Plan of Action) have been disastrous, and for which the people of Iran and the region have paid heavily,” Rajavi said in a statement provided to Fox News.

“The IRGC is a prime means of suppression, execution, and torture in Iran, spreading terrorism throughout the world, war mongering and massacre in the region, the drive for acquiring nuclear weapons, and the increase in the proliferation of ballistic missiles,” she said. “If the IRGC had been recognized as a terrorist entity earlier and dealt with accordingly, the current situation in the region in general, and Iraq, Syria, Lebanon, Yemen, and Afghanistan in particular, would have been totally different.”

Trump had been facing a Sunday deadline to notify Congress whether Iran is complying with the accord.

Republicans are calling for new legislation that addresses the “flaws” of the agreement.

“Lawmakers need to do now what we couldn’t do two years ago: unite around an Iran strategy that truly stops Iran’s nuclear weapons program and empowers the United States and our allies to combat the full spectrum of Iran’s imperial aggression,” Sen. Tom Cotton, R-Ark., said in a statement.

Democrats accused the president of making matters worse. Former Obama administration official Ben Rhodes, who helped sell the Iran deal, said the president is “provoking” a crisis with his speech.

“Hard to overstate how irresponsible it is for Trump to risk blowing up Iran Deal by demanding rest of world justify his campaign rhetoric,” Rhodes tweeted.

Fox News’ Serafin Gomez, Mike Emanuel and Perry Chiaramonte and The Associated Press contributed to this report.

http://www.foxnews.com/politics/2017/10/13/trump-to-decertify-iran-nuclear-deal.html

Trump says he has decided to decertify Iran nuclear deal

WASHINGTON, Oct 13 (Reuters) – U.S. President Donald Trump struck a blow against the 2015 Iran nuclear agreement on Friday in defiance of other world powers, choosing not to certify that Tehran is complying with the deal.

“Based on the factual record I have put forward, I am announcing today that we cannot and will not make this certification,” Trump said at a White House event as he unveiled a tougher strategy against Tehran.

Trump’s move does not pull the United States out of the agreement, formally known as the JCPOA. (Reporting by James Oliphant; Writing by Tim Ahmann and Makini Brice; Editing by James Dalgleish)

Read more: http://www.dailymail.co.uk/wires/reuters/article-4978524/Trump-says-decided-decertify-Iran-nuclear-deal.html#ixzz4vS0Hglgq

Bolton: ‘Unfixable’ Iran Deal Must Be Abandoned

Image: Bolton: 'Unfixable' Iran Deal Must Be Abandoned
Ambassador to the United Nations John Bolton (Alex Brandon/AP)

By Brian Freeman   |   Monday, 16 Oct 2017 03:27 PM

 Arguments over the Iran deal have been dominated by peripheral issues, and obscured the fact there are no real “fixes” that can be made to turn it into a good agreement, former U.S. Ambassador to the United Nations John Bolton wrote in a Monday op-ed in The Wall Street Journal.

Now that President Donald Trump has announced the U.S. will stay in the Joint Comprehensive Plan of Action, while refusing to certify under American law the deal is in the national interest, Congress will have to decide what next step to take, with many offering proposed changes.

Bolton insisted it should be remembered for those who say the agreement must be preserved because Iran is not violating the deal “it is neither dishonorable nor unusual for countries to withdraw from international agreements that contravene their vital interests.”

 Such an example, he said, was President George W. Bush’s notice of withdrawal in 2001 from the 1972 Anti-Ballistic Missile Treaty, even though it was not clear Russia was violating it. What was important was the agreement was no longer strategically wise for the U.S.

Bolton said the Western powers’ collapse from their original insistence it would not even negotiate unless Iran agreed to suspend all enrichment-related activity was a grave error, because regardless of the treaty’s limits, “Iran benefits from continued enrichment, research and development by expanding the numbers of scientists and technicians it has with firsthand nuclear experience, [which] will be invaluable to the ayatollahs come the day they disdain any longer to conceal their real nuclear strategy.”

 

Iran Nuclear Agreement Review Act of 2015

From Wikipedia, the free encyclopedia

The Iran Nuclear Agreement Review Act of 2015 (H.R. 1191Pub.L. 114–17) is a bill that was passed by the US Congress in May 2015, giving Congress the right to review any agreement reached in the P5+1 talks with Iran aiming to prevent Iran from obtaining nuclear weapons.

The bill passed in the Senate by 98 to 1 (only Tom Cotton voted against), and then passed in the House by a vote of 400 to 25 on May 14.[1] President Barack Obama had threatened to veto the bill, but eventually a version was arrived at that had enough support to override any veto and Obama did not try to veto it.

Larry Klayman filed a lawsuit, alleging that the law as an unconstitutional abrogation of the Senate’s Treaty Power. The lawsuit was dismissed for lack of standing.[2]

See also

References