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The Pronk Pops Show 1296, July 25, 2019, Part 2 — Story 1: Black Swan Song — Pathetic Incompetent Corrupt Swamp Swan Figurehead Special Counsel Robert Swan Mueller III Exposed As Fraud — “A Man’s Got to Know His Limitations” — Corrupt Democrat Punks — “Do I feel lucky?” Well, do ya, punk? — “Go Ahead Make My Day” — Impeach Trump — Big Lie Media and Lying Lunatic Leftist Losers Exposed — No Credibility and No Longer Trusted — No Evidence or Basis For Impeachment — Mueller “Outside My Purview”: Clinton Obama Democrat Criminal Conspiracy — American People Will Reelect Trump for Second Term in A Landslide Victory — Case Closed — Videos — Story 2: Investigation, Indicting, Prosecuting The Clinton Obama Democrat Criminal Conspirators — Videos

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Pronk Pops Show 1247 April 30, 2019

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Pronk Pops Show 1233 April 4, 2019

Pronk Pops Show 1232 April 1, 2019 Part 2

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Story 1: Black Swan Song — Pathetic Incompetent Corrupt Swamp Swan Figurehead Special Counsel Robert Swan Mueller III Exposed As Fraud — “A Man’s Got to Know His Limitations” — Corrupt Democrat Punks — “Do I feel lucky?” Well, do ya, punk? — “Go Ahead Make My Day” — Impeach Trump — Big Lie Media and Lying Lunatic Leftist Losers Exposed — No Credibility and No Longer Trusted — No Evidence or Basis For Impeachment — Mueller “Outside My Purview”: Clinton Obama Democrat Criminal Conspiracy — American People Will Reelect Trump for Second Term in A Landslide Victory — Videos

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Black Swan – Last Dance Scene (“I was perfect…”)

The Real ‘Black Swan’: Double Speaks

Magnum Force (10/10) Movie CLIP – A Man’s Got to Know His Limitations (1973) HD

A Good Man Always Has to Know His Limitations

Dirty Harry Do You ( I ) Feel Lucky Punk? ( high quality)

Dirty Harry – inadmissible

Dirty Harry Do You Feel Lucky Punk

Dirty Harry – Best Quotes, Lines (Clint Eastwood)

WATCH: Rep. Nunes calls Mueller hearing ‘spectacle” and ‘political theater’ | Mueller testimony

WATCH: Rep. Brad Wenstrup’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. Ben Cline’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. Guy Reschenthaler’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. Debbie Lesko’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. Michael Turner’s full questioning of Robert Mueller | Mueller testimony

Jim Jordan pushes Mueller on investigating ‘how the false accusations started’

Joe diGenova: The public got to see Mueller’s incompetence

Joe diGenova: IG Horowitz and John Durham Have Both Already interviewed Joseph Mifsud

Mueller’s testimony riddled with shaky moments, incomplete answers

Robert Mueller testifies before Judiciary Committees on Capitol Hill (LIVE) | USA TODAY

Robert Mueller’s full testimony to House Judiciary committee

MUELLER HEARING: House Judiciary Committee Part 1

MUELLER HEARING: House Intelligence Committee Part 2

Full: Robert Mueller Testimony To Congress, Reaction And Analysis | NBC News

Collins at Mueller hearing: I hope this brings us closure

WATCH: Rep. Steve Chabot’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. Ted Lieu’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. Debbie Lesko’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. F. James Sensenbrenner’s full questioning of Robert Mueller | Mueller testimony

Ratcliffe Questions Former Special Counsel Mueller on Report

Representative Turner questions Mueller

WATCH: Rep. Matt Gaetz’s full questioning of Robert Mueller | Mueller testimony

Rep. Jim Jordan blasts Mueller for dodging questions

Ohio Republican Rep. Jim Jordan presses former Special Counsel Robert Mueller on the origins of the Trump-Russia collusion investigation. Jordan says maybe a better course of action is to figure out how the false accusations started.

Rep. Gohmert grills Mueller: Did you know Strzok hated Trump?

Representative Nunes questions Mueller

WATCH: Rep. Ben Cline’s full questioning of Robert Mueller | Mueller testimony

Joe diGenova: The public got to see Mueller’s incompetence

Whitaker says it was clear Mueller didn’t have a grasp of Russia report

Tucker: Democrats believed Mueller would save America

Hannity: Mueller’s testimony was an unmitigated disaster

Ingraham: Trump beats the elites again

Jim Jordan says Dems are never going to stop going after Trump

Gowdy on Mueller: I would’ve beaten the hell out of that exoneration

Trump’s legal team takes victory lap after Mueller hearings

WATCH: Key moments from Mueller’s testimony

Takeaways and analysis of Mueller hearings

 

 

‘Disoriented’ Mueller’s stumbling responses to questions during blockbuster hearing leave social media concerned the special counsel seems a ‘confused old man’ but some think it is all a strategy to frustrate the committee members

  • Mueller faced members of the House Judiciary and Intelligence Committees on Wednesday morning at a highly-anticipated hearing on the Russia investigation
  • Viewers reacting on social media noticed Mueller stumbled at several points 
  • ‘Mueller is acting like he doesn’t know what’s going on,’ one viewer wrote on Twitter. ‘He’s acting like a confused old man’ 
  • Some viewers have said Mueller’s shaky demeanor calls his report into question
  • Others think the 74-year-old veteran prosecutor sounds uncertain because he is being overly-cautious about coming off as impartial
  • When it came to questions at the core of the report, Mueller has delivered firm answers without hesitation 
  • Another theory suggests the wobbly performance is a delaying tactic to frustrate Republican committee members determined to discredit the report
  • Viewers also noted that Mueller is hindered by the mammoth task of manually searching through 397 pages to effectively answer questions about the report

Perplexed viewers are questioning Robert Mueller’s ‘confused’ demeanor as he testifies in front of Congress.

The special counsel faced members of the House Judiciary and Intelligence Committees on Wednesday morning at a highly-anticipated hearing on the Russiainvestigation.

Viewers reacting on social media have noticed that Mueller appeared to stumble at multiple points.

‘Robert Mueller comes across as a doddering old fool with a questionable moral compass based on situational ethics who should never have been appointed in the first place based on reduced mental capacity,’ one person tweeted.

‘Mueller is acting like he doesn’t know what’s going on,’ another wrote. ‘He’s acting like a confused old man.’

Some are saying the wobbly performance is a delaying tactic on the part of the special counsel to frustrate Republican committee members determined to discredit findings that are damaging to President Donald Trump.  

When it came to questions at the core of the report, Mueller has delivered firm answers without hesitation. 

Asked whether Trump had been exonerated or if he could be charged with obstruction of justice when he leaves office, Mueller replied: ‘No’ and ‘Yes’ respectively.

‘Lots of twitter folks are dogging Mueller out for looking old and feeble,’ MSNBC’s Joy Reid tweeted. ‘But optically, that just makes the Republicans yelling at him look more absurd. Mueller is quite definitive in his one word answers, which only Dems are eliciting from him so far.’

Perplexed viewers are questioning Robert Mueller's 'confused' demeanor as he testifies in front of members of the House Judiciary and Intelligence Committees on Wednesday morning

Perplexed viewers are questioning Robert Mueller’s ‘confused’ demeanor as he testifies in front of members of the House Judiciary and Intelligence Committees on Wednesday morning

Viewers reacting on social media noticed that Mueller appeared to stumble at multiple points

 

Viewers reacting on social media noticed that Mueller appeared to stumble at multiple points

 

MSNBC's Joy Reid defended Mueller's performance, saying his answers have been effective

Several Twitter users expressed the opinion that the 74-year-old veteran prosecutor’s shaky demeanor calls his entire report into question.

‘Listening too Mueller the cracking in his voice shows clearly that he is a conflicted Skunk and lying ! And I think he is senile !’

‘As I said when Mueller gave speech in May, he is feeble,’ radio personality Mark Levin tweeted. ‘I say that not as a personal attack but as a rational observation. It’s on display today during this hearing.

‘This underscores that the person who influenced this investigation most was Andrew Weissman, his top lieutenant.’

Replying to Levin’s tweet, one man wrote: ‘Agreed, Mueller looks geriatric and lost…. find that man a time machine.’ 

‘It’s quite entertaining. Mueller can’t make a coherent statement. Looks like the circus made a stop in DC,’ a woman tweeted.

‘I’d say Democrats right now regretting they ever subpoenaed Mueller. He looks confused,’ a man wrote.

Some viewers have said Mueller's shaky demeanor calls his report into question

Some viewers have said Mueller’s shaky demeanor calls his report into question

 

 

 

 

 

Others think Mueller sounds uncertain because he is being overly-cautious about coming off as impartial.

‘I’m concerned that Mueller is so concerned with not appearing political that he is really under-performing at times by failing to clarify things that need clarification,’ one woman wrote.

‘To let crazy GOP statements stand without clarification could be interpreted as agreement.’

Some noted that Mueller is being hindered by the mammoth task of manually searching through 397 pages to effectively answer questions about the report his team took two years to compile.

He repeatedly had to ask committee members for page numbers when asked to comment on specific sections.

One woman tweeted that Mueller would have a much easier time referring to the report if he had searchable copy on a computer.

‘Give Robert Mueller a computer, he desperately needs CTRL + F,’ Vice Media VP Katie Drummond wrote.

Ironically, the copy of the report released by the Justice Department was a scanned printout and thus couldn’t be searched. Several searchable versions have cropped up in the months since then.

Unfortunately for Mueller, witnesses are not allowed to use computers during hearings.

Mueller frequently had to pause and manually search through the 397-page report to effectively answer questions from lawmakers

Mueller frequently had to pause and manually search through the 397-page report to effectively answer questions from lawmakers

 

 

 

Throughout the hearing, Democrats, who hold the majority on both committees present, worked to elicit short, definitive answers from Mueller.

House Judiciary Chairman Jerold Nadler asked him: ‘Director Mueller, the president has repeatedly claimed that your report found there was no obstruction and that it completely and totally exonerated him. But that is not what your report said, is it?

‘That is correct. That is not what the report said,’ Mueller responding.

‘Does that say there was no obstruction?’ Nadler followed up later.

‘No,’ the former special counsel said.

‘In fact, your report expressly states that it does not exonerate the president,’ Nadler told him.

‘Yes it does,’ Mueller replied.

Most of Mueller’s fumbles came in response to Republicans trying to get him to stray from his typical dry, technical explanations.

‘Where are you reading from?’ he asked one member, Rep James Sensenbrenner. ‘I am reading from my question,’ the Wisconsin Republican lawmaker told him.

Under questioning by Republican Rep Steve Chabot, Mueller didn’t show immediate familiarity with political intelligence firm Fusion GPS, a key player in the trail of the Steele Dossier, and a fixture of attention of President Trump and GOP critics of the Mueller probe.

‘When you talk about the firm that produced the Steele reporting, the name of the firm was Fusion GPS, is that correct?’

‘I’m not familiar with that,’ said Mueller.

‘That’s not a trick question. It’s Fusion GPS.’

Most of Mueller's fumbles came in response to Republicans trying to get him to stray from his typical dry, technical explanations

Ohio Republican Rep Jim Jordan sought to draw Mueller out on the surveillance warrants for former Trump campaign adviser Carter Page, whose trips to Russia drew attention of investigators.

‘Director Mueller, the third FISA renewal happens a month after you’re named special counsel. What role did your office play in the third FISA renewal of Carter Page?’ Jordan asked.

‘I’m not going to talk to that,’ said Mueller.

In his prepared statement, Mueller began by defending his probe following an onslaught of attacks, and spelling out questions he will and will not answer.

He said he told his team at the start of the Russia probe to ‘work quietly, thoroughly and with integrity so that the public would have full confidence in the outcome.

‘We needed to do our work as thoroughly as possible and as expeditiously as possible. It was in the public interest for our investigation to be complete and not to last a day longer than necessary,’ Mueller said.

He said his team of lawyers and agents worked ‘fairly and with absolute integrity’ – minutes after President Trump once again attacked it as a ‘witch hunt’.

‘Our team would not leak or take other actions that would compromise the integrity of our work,’ said Mueller. ‘All decisions were made based on the facts and the law.’

Ohio Republican Rep Jim Jordan sought to draw Mueller out on the surveillance warrants for former Trump campaign adviser Carter Page, whose Russia trips drew investigators' attention

Ohio Republican Rep Jim Jordan sought to draw Mueller out on the surveillance warrants for former Trump campaign adviser Carter Page, whose Russia trips drew investigators’ attention

Rep Doug Collins tried to get Mueller to contradict his report by asking him whether ‘collusion’ and ‘conspiracy’ are the same thing after Mueller testified that they weren’t.

Collins cited a portion of the report that states: ‘Collusion is not a specific offense or theory of liability found in the U.S. Code; nor is it a term of art in federal criminal law. To the contrary, even as defined in legal dictionaries, collusion is largely synonymous with conspiracy as that crime is set forth in the general federal conspiracy statute.’

Mueller critics declared that the special counsel had been bested by Collins, while experts explained that Collins’ citation was taken out of context.

The part of the report in question was about collusion in the sense of corporate collusion – when companies conspire in an illegal fashion to help each other at consumers’ expense.

Corporate collusion is unrelated to ‘collusion with Russia’, the colloquial term adopted in the debate about potential cooperation between the Trump campaign and the Russian government.

Both sides sought to get Mueller on record on the question of whether he had any potential conflict that would prevent him from overseeing the probe.

Georgia Democrat Rep Hank Johnson asked Mueller if he had any conflicts of interest that prevented him from being special counsel. Mueller said he did not. Trump has repeatedly said Mueller was ‘highly conflicted,’ saying he had interviewed to be his FBI director and that the two men had a nasty business dispute. 

Some people on social media lambasted Republican committee members for trying to damage Mueller’s credibility.

‘No matter your political party, it’s absolutely disgusting to see those attacking Mueller’s integrity,’ one man tweeted.

‘The way the @JudiciaryGOP members talked and yelled at Robert Mueller is beyond awful. They’ve all lost their souls,’ another wrote.

‘Republicans can’t argue the facts, so they attack the investigation and the investigators,’ another said.

‘Remember this slander of Mueller the next time you hear republicans going on about their love & respect for veterans. They will throw anyone under the bus who doesn’t toe the party line.’

Some people on social media lambasted Republican committee members for trying to damage Mueller's credibility

 

Some people on social media lambasted Republican committee members for trying to damage Mueller’s credibility

TOP 10 MUELLER TAKEAWAYS

Below are the 10 most important takeaways gleaned from Robert Mueller’s testimony before the House Judiciary and Intelligence Committees on Wednesday.

Mueller said all he wanted to say in his report

When Mueller finally agreed to testify before Congress – after more than two years of silence about the Russia investigation – the special counsel said he ‘would not provide information beyond that which is already public’ in the report published in April.

He stuck to that promise throughout Wednesday’s hearing, declining or deferring nearly 200 questions from committee members.

Mueller’s reasons for not answering included not wanting to speculate, being unable to detail internal Justice Department deliberations and being under orders not to broach specific topics.

Trump was paying attention 

After saying that he couldn’t be bothered to watch Mueller’s testimony, President Trump made it clear that he was tuned in as he tweeted multiple reactions to the proceedings on Wednesday.

‘I’m not going to be watching Mueller because you can’t take all those bites out of the apple,’ Trump told reporters in the Oval Office on Monday. ‘We had no collusion, no obstruction.’

Before the hearing even kicked off Trump had posted seven tweets about the hearing, echoing his go-to attacks on ‘Mueller & his band of 18 Angry Democrats’.

Over the next eight hours tweeted and retweeted 14 posts about Mueller’s testimony, including multiple videos of Republican lawmakers grilling the special counsel.

‘TRUTH IS A FORCE OF NATURE!’ he declared just after 2.30pm.

Mueller didn’t subpoena Trump to avoid a lengthy court battle  

The special counsel addressed why Trump wasn’t interviewed during the two-year-long investigation when New York Democratic Rep Sean Maloney asked him: ‘Why didn’t you subpoena the president?’

Trump’s legal team had refused to have him be interviewed in the probe because they felt such a meeting would amount to a ‘perjury trap’.

Before Congress Mueller stated that his team had ‘little success’ when pushing for an interview for over a year and decided that they didn’t want to delay the investigation with a lengthy court battle.

‘We did not want to exercise the subpoena power because of the necessity of expediting the end of the investigation,’ he said, adding that no one at the Justice Department pressured him to finish the probe.

Mueller acknowledged that Trump’s written answers to questions about possible conspiracy with Russia were ‘not as useful as the interview would be’.

Trump was not exonerated by the Russia investigation

Judiciary Committee Chairman Jerry Nadler, a New York Democrat, kicked off Wednesday’s proceedings by asking Mueller directly if the Russia investigation exonerated President Trump.

‘No,’ Mueller stated without hesitation.

That goes against the president’s repeated claims that the probe proved there was ‘no obstruction, no collusion’.

Mueller’s team never determined whether Trump committed a crime

While the majority of his answers were straightforward and technical, Mueller struggled when questioned about why he did not indict the president.

During an exchanged with California Democratic Rep Ted Lieu, Mueller stated that the reason he did not even consider indicting Trump on obstruction charges was because of guidance from the DOJ’s Office of Legal Counsel that a sitting president cannot be indicted.

That goes against assertions by Attorney General William Barr, who has repeatedly said the OLC’s opinion was not the only reason Mueller did not indict Trump.  

Arizona Republican Rep Debbie Lesko asked Mueller to clarify that contradiction, at which point he said he ‘would have to look closer at it’. 

He later conceded that he had misspoken when he characterized the OLC’s guidance to Lieu.  

‘We did not reach a determination as to whether the President committed a crime,’ he said.

‘Based on Justice Department policy and principles of fairness, we decided we would not make a determination as to whether the president committed a crime.’

Mueller was much less steady than in previous hearings

At times, Mueller, 74, stumbled during answers, asking fast-talking lawmakers to repeat page citations and repeat their questions. He sometimes had to scan the hearing room to locate questioners.

Although his stock answer was to say issues were beyond the purview of his mandate, he also appeared not to recall specific information at times.

‘Where are you reading from?’ he asked one member, Rep. James Sensenbrenner. ‘I am reading from my question,’ the Wisconsin Republican lawmaker told him.

Under questioning by Republican Rep Steve Chabot, Mueller didn’t show immediate familiarity with political intelligence firm Fusion GPS, a key player in the trail of the Steele Dossier, and a fixture of attention of President Trump and GOP critics of the Mueller probe.

Viewers reacting on social media called out Mueller’s unsteadiness early on, remarking that he was acting ‘like a confused old man’.

Some said the wobbly performance could be a delaying tactic on the part of the special counsel to frustrate Republican committee members determined to discredit findings that are damaging to Trump.

Mueller and Trump have opposing accounts of what led up to special counsel appointment

Republicans probed Mueller’s professional links with Trump in an attempt to show he may have had a reason to be biased against the president – specifically questioning whether he was turned down for the FBI director position the day before being tapped to lead the Russia investigation.

Trump gave his version of events on Wednesday morning, tweeting: ‘It has been reported that Robert Mueller is saying that he did not apply and interview for the job of FBI Director (and get turned down) the day before he was wrongfully appointed Special Counsel.

‘Hope he doesn’t say that under oath in that we have numerous witnesses to the interview, including the Vice President of the United States!’

Mueller contradicted Trump’s account when Texas Republican Rep Louie Gohmert seized on his alleged conflicts of interest.

Gohmert asked Mueller about a meeting he had with Trump the day before the special counsel appointment and contended that it was a job interview for the FBI director slot.

Mueller stated that he was not interviewed ‘as a candidate’ for the position.

Mueller fiercely defended his team’s impartiality 

The special counsel was calm and composed throughout the proceedings, save for one moment when Florida Republican Rep Greg Steube decried the political affiliations of the lawyers on his team.

Mueller said never in his 25 years in his position had he felt the need to ask the people he works with about their political affiliation.

Rep Gohmert also called Mueller’s hiring practices into question, particularly his appointment of FBI agent Peter Strzok – who was later removed from the probe after he was found to have sent anti-Trump text messages to a woman he was involved with.   

Mueller said he did not know of Strzok’s disdain for Trump before the probe started and learned about it in the summer of 2017, several months into the investigation.

Republicans tried to collect evidence for a probe into Mueller’s investigation

Republicans committee members tried both the blast the origins of the Russia probe and potentially establish a record that might play out in an ongoing investigation overseen by Attorney General William Barr.

‘Before you arrested [Trump campaign foreign policy aide] George Papadopoulos in July of 2017, he was given $10,000 in ash in Israel. Do you know who gave him that cash?’ California Rep Devin Nunes asked Mueller.

‘Again, that’s outside our … questions such as that should go to the FBI or the department,’ said Mueller.

‘But it involved your investigation,’ said Nunes.

‘It involved persons involved in my investigation,’ said Mueller.

Trump lawyer Jay Sekulow released a statement saying: ‘This morning’s testimony exposed the troubling deficiencies of the Special Counsel’s investigation. The testimony revealed that this probe was conducted by a small group of politically-biased prosecutors who, as hard as they tried, were unable to establish either obstruction, conspiracy, or collusion between the Trump campaign and Russia. It is also clear that the Special Counsel conducted his two-year investigation unimpeded. The American people understand that this issue is over. They also understand that the case is closed.’ 

Democrats tried to breathe life into a dense, technical report

The Democrats, who hold a majority on both committees, made a concerted effort to present the investigation’s findings in a more provocative and damning light than they had been in the dense, 337-page report.

‘Your investigation determined that the Trump campaign — including Trump himself — knew that a foreign power was intervening in our election and welcomed it, built Russian meddling into their strategy, and used it,’ California Rep Adam Schiff, the House Intelligence Committee chair, said when the afternoon portion began.

‘Disloyalty to country. Those are strong words, but how else are we to describe a presidential campaign which did not inform the authorities of a foreign offer of dirt on their opponent, which did not publicly shun it, or turn it away, but which instead invited it, encouraged it, and made full use of it?’ Schiff continued.

‘That disloyalty may not have been criminal. Constrained by uncooperative witnesses, the destruction of documents and the use of encrypted communications, your team was not able to establish each of the elements of the crime of conspiracy beyond a reasonable doubt, so not a provable crime, in any event’, he added.

However, a levelheaded Mueller didn’t play along, making for a rather mundane hearing.

https://www.dailymail.co.uk/news/article-7281303/Muellers-stumbling-responses-blockbuster-hearing-leave-social-media-concerned.html

 

 

Here’s Why Mueller Kept Getting Asked About a Mysterious Maltese Professor

BY VERA BERGENGRUEN 

JULY 24, 2019

In a moment that quickly made the rounds on conservative media on Wednesday, Rep. Jim Jordan sharply questioned Robert Mueller on the origins of the counterintelligence investigation into the Trump campaign’s ties to Russia.

The Ohio Republican pressed the former special counsel to detail who told George Papadopoulos, a young foreign policy aide on the Trump campaign, that the Russians had “dirt” on Hillary Clinton. When Mueller said he would not go into it, Jordan became heated.

“Yes you can, because you wrote about it – you gave us the answer!” Jordan said. “Joseph Mifsud.”

The name of the shadowy Maltese academic kept coming up on Wednesday as Republicans accused Mueller of covering up how the FBI came to investigate the Trump campaign’s alleged ties to Russia, a popular talking point for Trump allies. At the House Intelligence Committee hearing, Rep. Devin Nunes pointed to a large photo of Mifsud with then-U.K. foreign secretary Boris Johnson as evidence that he “has extensive contacts with Western governments and the FBI”.

Mifsud’s name would have been familiar for regular consumers of Fox News and conservative outlets that have spent two years dissecting what they believe was a “deep state” attempt to take down the Trump campaign. The London-based professor at the center of the Trump-Russia probe has not been seen in public since October 2017, just days after Papadopoulos pleaded guilty to lying to the FBI about his interactions with him. One of those was a key conversation in London in April 2016, in which Mifsud told him the Russians had damaging information on Clinton in the form of “thousands of emails.” Mifsud also introduced him to a Russian graduate student that Papadopoulos believed to be Putin’s niece, and connected him with an official with ties to the Russian foreign ministry who said he could set up a meeting with the country’s ambassador, according to Mueller’s report. Papadopoulos later relayed that information to an Australian diplomat, Alexander Downer, who passed it on to U.S. government officials, setting into motion the FBI investigation into Russian contacts with the Trump campaign.

Papadopoulos’ interactions with Mifsud, and his allegation that the Maltese professor was an FBI plant, has been at the center of some Republicans’ efforts to discredit Mueller’s probe. Papadopoulos told TIME in May that he believes he was part of an elaborate set-up by U.S. intelligence to sabotage Trump’s presidential campaign. Since serving a short sentence for lying to the FBI, Papadopoulos has continued to make the rounds alleging that Mifsud was a “Western intelligence operative” who tried to use him to entrap the Trump campaign.

“People are very fascinated about what I have to say, people are just like — their mouths are dropping,” he told TIME on April 17. “They’ve never heard this information because Mueller and the FBI wanted to keep me silenced.”

Perhaps anticipating this line of questioning, Mueller made it clear in his opening statement that he would be “unable to address questions about the opening of the FBI’s Russia investigation” because it is the subject of an ongoing review by the Justice Department.

That did not stop Jordan and Nunes, both vocal Trump supporters, from trying.

“He’s the guy who starts it all, and when the FBI interviews him, he lies three times and yet you don’t charge him with a crime,” Jordan exclaimed, angrily listing others charged by Mueller, including Michael Flynn and “13 Russians no one’s ever heard of.”

“But the guy who puts the country through this whole saga, starts it off, for three years we have lived this now, he lies and you guys don’t charge him,” he said.

“I’m not sure I agree with your characterization,” Mueller tersely responded, but Jordan’s performance was already going viral in conservative corners of the internet with headlines like “WATCH: Jim Jordan Steals the Show, Calls into Question Entire Basis of Probe!” and “‘BRUTAL’: Jim Jordan grills Mueller about why ‘guy who put this whole story in motion’ lied but wasn’t held accountable.” On Wednesday afternoon, Trump himself retweeted a clip of the exchange, indicating that Mifsud is unlikely to fade from the debate over the Russia investigation.

 

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The Pronk Pops Show 1295, July 24, 2019, Part 1 — Story 1: Black Swan Song — Pathetic Incompetent Corrupt Swamp Swan Figurehead Special Counsel Robert Swan Mueller III Exposed As Fraud — “A Man’s Got to Know His Limitations” — Corrupt Democrat Punks — “Do I feel lucky?” Well, do ya, punk? — “Go Ahead Make My Day” — Impeach Trump — Big Lie Media and Lying Lunatic Leftist Losers Exposed — No Credibility and No Longer Trusted — No Evidence or Basis For Impeachment — Mueller “Outside My Purview”: Clinton Obama Democrat Criminal Conspiracy — American People Will Reelect Trump for Second Term in A Landslide Victory — Case Closed — Videos

Posted on July 25, 2019. Filed under: 2020 Republican Candidates, Addiction, Barack H. Obama, Bill Clinton, Blogroll, Breaking News, Cartoons, Comedy, Communications, Congress, Constitutional Law, Corruption, Countries, Crime, Culture, Donald J. Trump, Donald J. Trump, Donald J. Trump, Donald Trump, Education, Empires, Employment, Federal Bureau of Investigation (FBI) and Department of Justice (DOJ), Government Dependency, High Crimes, Hillary Clinton, Hillary Clinton, History, House of Representatives, Human, Human Behavior, Impeachment, James Comey, Law, Life, Media, Movies, News, People, Philosophy, Photos, Politics, Polls, President Barack Obama, Progressives, Public Corruption, Radio, Raymond Thomas Pronk, Regulation, Robert S. Mueller III, Senate, Social Science, Spying, Spying on American People, Subornation of perjury, Subversion, Success, Surveillance and Spying On American People, Surveillance/Spying, Taxation, Taxes, Terror, Treason, Trump Surveillance/Spying, United States of America, Videos, Violence, Wall Street Journal, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

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Pronk Pops Show 1232 April 1, 2019 Part 2

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Story 1: Black Swan Song — Pathetic Incompetent Corrupt Swamp Swan Figurehead Special Counsel Robert Swan Mueller III Exposed As Fraud — “A Man’s Got to Know His Limitations” — Corrupt Democrat Punks — “Do I feel lucky?” Well, do ya, punk? — “Go Ahead Make My Day” — Impeach Trump — Big Lie Media and Lying Lunatic Leftist Losers Exposed — No Credibility and No Longer Trusted — No Evidence or Basis For Impeachment — Mueller “Outside My Purview”: Clinton Obama Democrat Criminal Conspiracy — American People Will Reelect Trump for Second Term in A Landslide Victory — Videos

Black Swan – Last Dance Scene (“I was perfect…”)

The Real ‘Black Swan’: Double Speaks

Magnum Force (10/10) Movie CLIP – A Man’s Got to Know His Limitations (1973) HD

A Good Man Always Has to Know His Limitations

Dirty Harry Do You ( I ) Feel Lucky Punk? ( high quality)

Dirty Harry – inadmissible

Dirty Harry Do You Feel Lucky Punk

Dirty Harry – Best Quotes, Lines (Clint Eastwood)

Robert Mueller testifies before Judiciary Committees on Capitol Hill (LIVE) | USA TODAY

Robert Mueller’s full testimony to House Judiciary committee

MUELLER HEARING: House Judiciary Committee Part 1

MUELLER HEARING: House Intelligence Committee Part 2

Full: Robert Mueller Testimony To Congress, Reaction And Analysis | NBC News

Collins at Mueller hearing: I hope this brings us closure

WATCH: Rep. Steve Chabot’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. Ted Lieu’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. Debbie Lesko’s full questioning of Robert Mueller | Mueller testimony

WATCH: Rep. F. James Sensenbrenner’s full questioning of Robert Mueller | Mueller testimony

Ratcliffe Questions Former Special Counsel Mueller on Report

Representative Turner questions Mueller

WATCH: Rep. Matt Gaetz’s full questioning of Robert Mueller | Mueller testimony

Rep. Jim Jordan blasts Mueller for dodging questions

Ohio Republican Rep. Jim Jordan presses former Special Counsel Robert Mueller on the origins of the Trump-Russia collusion investigation. Jordan says maybe a better course of action is to figure out how the false accusations started.

Rep. Gohmert grills Mueller: Did you know Strzok hated Trump?

Representative Nunes questions Mueller

WATCH: Rep. Ben Cline’s full questioning of Robert Mueller | Mueller testimony

Joe diGenova: The public got to see Mueller’s incompetence

Whitaker says it was clear Mueller didn’t have a grasp of Russia report

Tucker: Democrats believed Mueller would save America

Hannity: Mueller’s testimony was an unmitigated disaster

Ingraham: Trump beats the elites again

Jim Jordan says Dems are never going to stop going after Trump

Gowdy on Mueller: I would’ve beaten the hell out of that exoneration

Trump’s legal team takes victory lap after Mueller hearings

WATCH: Key moments from Mueller’s testimony

Takeaways and analysis of Mueller hearings

 

‘Disoriented’ Mueller’s stumbling responses to questions during blockbuster hearing leave social media concerned the special counsel seems a ‘confused old man’ but some think it is all a strategy to frustrate the committee members

  • Mueller faced members of the House Judiciary and Intelligence Committees on Wednesday morning at a highly-anticipated hearing on the Russia investigation
  • Viewers reacting on social media noticed Mueller stumbled at several points 
  • ‘Mueller is acting like he doesn’t know what’s going on,’ one viewer wrote on Twitter. ‘He’s acting like a confused old man’ 
  • Some viewers have said Mueller’s shaky demeanor calls his report into question
  • Others think the 74-year-old veteran prosecutor sounds uncertain because he is being overly-cautious about coming off as impartial
  • When it came to questions at the core of the report, Mueller has delivered firm answers without hesitation 
  • Another theory suggests the wobbly performance is a delaying tactic to frustrate Republican committee members determined to discredit the report
  • Viewers also noted that Mueller is hindered by the mammoth task of manually searching through 397 pages to effectively answer questions about the report

Perplexed viewers are questioning Robert Mueller’s ‘confused’ demeanor as he testifies in front of Congress.

The special counsel faced members of the House Judiciary and Intelligence Committees on Wednesday morning at a highly-anticipated hearing on the Russiainvestigation.

Viewers reacting on social media have noticed that Mueller appeared to stumble at multiple points.

‘Robert Mueller comes across as a doddering old fool with a questionable moral compass based on situational ethics who should never have been appointed in the first place based on reduced mental capacity,’ one person tweeted.

‘Mueller is acting like he doesn’t know what’s going on,’ another wrote. ‘He’s acting like a confused old man.’

Some are saying the wobbly performance is a delaying tactic on the part of the special counsel to frustrate Republican committee members determined to discredit findings that are damaging to President Donald Trump.  

When it came to questions at the core of the report, Mueller has delivered firm answers without hesitation. 

Asked whether Trump had been exonerated or if he could be charged with obstruction of justice when he leaves office, Mueller replied: ‘No’ and ‘Yes’ respectively.

‘Lots of twitter folks are dogging Mueller out for looking old and feeble,’ MSNBC’s Joy Reid tweeted. ‘But optically, that just makes the Republicans yelling at him look more absurd. Mueller is quite definitive in his one word answers, which only Dems are eliciting from him so far.’

Perplexed viewers are questioning Robert Mueller's 'confused' demeanor as he testifies in front of members of the House Judiciary and Intelligence Committees on Wednesday morning

Perplexed viewers are questioning Robert Mueller’s ‘confused’ demeanor as he testifies in front of members of the House Judiciary and Intelligence Committees on Wednesday morning

Viewers reacting on social media noticed that Mueller appeared to stumble at multiple points

 

Viewers reacting on social media noticed that Mueller appeared to stumble at multiple points

 

MSNBC's Joy Reid defended Mueller's performance, saying his answers have been effective

Several Twitter users expressed the opinion that the 74-year-old veteran prosecutor’s shaky demeanor calls his entire report into question.

‘Listening too Mueller the cracking in his voice shows clearly that he is a conflicted Skunk and lying ! And I think he is senile !’

‘As I said when Mueller gave speech in May, he is feeble,’ radio personality Mark Levin tweeted. ‘I say that not as a personal attack but as a rational observation. It’s on display today during this hearing.

‘This underscores that the person who influenced this investigation most was Andrew Weissman, his top lieutenant.’

Replying to Levin’s tweet, one man wrote: ‘Agreed, Mueller looks geriatric and lost…. find that man a time machine.’ 

‘It’s quite entertaining. Mueller can’t make a coherent statement. Looks like the circus made a stop in DC,’ a woman tweeted.

‘I’d say Democrats right now regretting they ever subpoenaed Mueller. He looks confused,’ a man wrote.

Some viewers have said Mueller's shaky demeanor calls his report into question

Some viewers have said Mueller’s shaky demeanor calls his report into question

 

 

 

 

 

Others think Mueller sounds uncertain because he is being overly-cautious about coming off as impartial.

‘I’m concerned that Mueller is so concerned with not appearing political that he is really under-performing at times by failing to clarify things that need clarification,’ one woman wrote.

‘To let crazy GOP statements stand without clarification could be interpreted as agreement.’

Some noted that Mueller is being hindered by the mammoth task of manually searching through 397 pages to effectively answer questions about the report his team took two years to compile.

He repeatedly had to ask committee members for page numbers when asked to comment on specific sections.

One woman tweeted that Mueller would have a much easier time referring to the report if he had searchable copy on a computer.

‘Give Robert Mueller a computer, he desperately needs CTRL + F,’ Vice Media VP Katie Drummond wrote.

Ironically, the copy of the report released by the Justice Department was a scanned printout and thus couldn’t be searched. Several searchable versions have cropped up in the months since then.

Unfortunately for Mueller, witnesses are not allowed to use computers during hearings.

Mueller frequently had to pause and manually search through the 397-page report to effectively answer questions from lawmakers

Mueller frequently had to pause and manually search through the 397-page report to effectively answer questions from lawmakers

 

 

 

Throughout the hearing, Democrats, who hold the majority on both committees present, worked to elicit short, definitive answers from Mueller.

House Judiciary Chairman Jerold Nadler asked him: ‘Director Mueller, the president has repeatedly claimed that your report found there was no obstruction and that it completely and totally exonerated him. But that is not what your report said, is it?

‘That is correct. That is not what the report said,’ Mueller responding.

‘Does that say there was no obstruction?’ Nadler followed up later.

‘No,’ the former special counsel said.

‘In fact, your report expressly states that it does not exonerate the president,’ Nadler told him.

‘Yes it does,’ Mueller replied.

Most of Mueller’s fumbles came in response to Republicans trying to get him to stray from his typical dry, technical explanations.

‘Where are you reading from?’ he asked one member, Rep James Sensenbrenner. ‘I am reading from my question,’ the Wisconsin Republican lawmaker told him.

Under questioning by Republican Rep Steve Chabot, Mueller didn’t show immediate familiarity with political intelligence firm Fusion GPS, a key player in the trail of the Steele Dossier, and a fixture of attention of President Trump and GOP critics of the Mueller probe.

‘When you talk about the firm that produced the Steele reporting, the name of the firm was Fusion GPS, is that correct?’

‘I’m not familiar with that,’ said Mueller.

‘That’s not a trick question. It’s Fusion GPS.’

Most of Mueller's fumbles came in response to Republicans trying to get him to stray from his typical dry, technical explanations

Ohio Republican Rep Jim Jordan sought to draw Mueller out on the surveillance warrants for former Trump campaign adviser Carter Page, whose trips to Russia drew attention of investigators.

‘Director Mueller, the third FISA renewal happens a month after you’re named special counsel. What role did your office play in the third FISA renewal of Carter Page?’ Jordan asked.

‘I’m not going to talk to that,’ said Mueller.

In his prepared statement, Mueller began by defending his probe following an onslaught of attacks, and spelling out questions he will and will not answer.

He said he told his team at the start of the Russia probe to ‘work quietly, thoroughly and with integrity so that the public would have full confidence in the outcome.

‘We needed to do our work as thoroughly as possible and as expeditiously as possible. It was in the public interest for our investigation to be complete and not to last a day longer than necessary,’ Mueller said.

He said his team of lawyers and agents worked ‘fairly and with absolute integrity’ – minutes after President Trump once again attacked it as a ‘witch hunt’.

‘Our team would not leak or take other actions that would compromise the integrity of our work,’ said Mueller. ‘All decisions were made based on the facts and the law.’

Ohio Republican Rep Jim Jordan sought to draw Mueller out on the surveillance warrants for former Trump campaign adviser Carter Page, whose Russia trips drew investigators' attention

Ohio Republican Rep Jim Jordan sought to draw Mueller out on the surveillance warrants for former Trump campaign adviser Carter Page, whose Russia trips drew investigators’ attention

Rep Doug Collins tried to get Mueller to contradict his report by asking him whether ‘collusion’ and ‘conspiracy’ are the same thing after Mueller testified that they weren’t.

Collins cited a portion of the report that states: ‘Collusion is not a specific offense or theory of liability found in the U.S. Code; nor is it a term of art in federal criminal law. To the contrary, even as defined in legal dictionaries, collusion is largely synonymous with conspiracy as that crime is set forth in the general federal conspiracy statute.’

Mueller critics declared that the special counsel had been bested by Collins, while experts explained that Collins’ citation was taken out of context.

The part of the report in question was about collusion in the sense of corporate collusion – when companies conspire in an illegal fashion to help each other at consumers’ expense.

Corporate collusion is unrelated to ‘collusion with Russia’, the colloquial term adopted in the debate about potential cooperation between the Trump campaign and the Russian government.

Both sides sought to get Mueller on record on the question of whether he had any potential conflict that would prevent him from overseeing the probe.

Georgia Democrat Rep Hank Johnson asked Mueller if he had any conflicts of interest that prevented him from being special counsel. Mueller said he did not. Trump has repeatedly said Mueller was ‘highly conflicted,’ saying he had interviewed to be his FBI director and that the two men had a nasty business dispute. 

Some people on social media lambasted Republican committee members for trying to damage Mueller’s credibility.

‘No matter your political party, it’s absolutely disgusting to see those attacking Mueller’s integrity,’ one man tweeted.

‘The way the @JudiciaryGOP members talked and yelled at Robert Mueller is beyond awful. They’ve all lost their souls,’ another wrote.

‘Republicans can’t argue the facts, so they attack the investigation and the investigators,’ another said.

‘Remember this slander of Mueller the next time you hear republicans going on about their love & respect for veterans. They will throw anyone under the bus who doesn’t toe the party line.’

Some people on social media lambasted Republican committee members for trying to damage Mueller's credibility

 

Some people on social media lambasted Republican committee members for trying to damage Mueller’s credibility

TOP 10 MUELLER TAKEAWAYS

Below are the 10 most important takeaways gleaned from Robert Mueller’s testimony before the House Judiciary and Intelligence Committees on Wednesday.

Mueller said all he wanted to say in his report

When Mueller finally agreed to testify before Congress – after more than two years of silence about the Russia investigation – the special counsel said he ‘would not provide information beyond that which is already public’ in the report published in April.

He stuck to that promise throughout Wednesday’s hearing, declining or deferring nearly 200 questions from committee members.

Mueller’s reasons for not answering included not wanting to speculate, being unable to detail internal Justice Department deliberations and being under orders not to broach specific topics.

Trump was paying attention 

After saying that he couldn’t be bothered to watch Mueller’s testimony, President Trump made it clear that he was tuned in as he tweeted multiple reactions to the proceedings on Wednesday.

‘I’m not going to be watching Mueller because you can’t take all those bites out of the apple,’ Trump told reporters in the Oval Office on Monday. ‘We had no collusion, no obstruction.’

Before the hearing even kicked off Trump had posted seven tweets about the hearing, echoing his go-to attacks on ‘Mueller & his band of 18 Angry Democrats’.

Over the next eight hours tweeted and retweeted 14 posts about Mueller’s testimony, including multiple videos of Republican lawmakers grilling the special counsel.

‘TRUTH IS A FORCE OF NATURE!’ he declared just after 2.30pm.

Mueller didn’t subpoena Trump to avoid a lengthy court battle  

The special counsel addressed why Trump wasn’t interviewed during the two-year-long investigation when New York Democratic Rep Sean Maloney asked him: ‘Why didn’t you subpoena the president?’

Trump’s legal team had refused to have him be interviewed in the probe because they felt such a meeting would amount to a ‘perjury trap’.

Before Congress Mueller stated that his team had ‘little success’ when pushing for an interview for over a year and decided that they didn’t want to delay the investigation with a lengthy court battle.

‘We did not want to exercise the subpoena power because of the necessity of expediting the end of the investigation,’ he said, adding that no one at the Justice Department pressured him to finish the probe.

Mueller acknowledged that Trump’s written answers to questions about possible conspiracy with Russia were ‘not as useful as the interview would be’.

Trump was not exonerated by the Russia investigation

Judiciary Committee Chairman Jerry Nadler, a New York Democrat, kicked off Wednesday’s proceedings by asking Mueller directly if the Russia investigation exonerated President Trump.

‘No,’ Mueller stated without hesitation.

That goes against the president’s repeated claims that the probe proved there was ‘no obstruction, no collusion’.

Mueller’s team never determined whether Trump committed a crime

While the majority of his answers were straightforward and technical, Mueller struggled when questioned about why he did not indict the president.

During an exchanged with California Democratic Rep Ted Lieu, Mueller stated that the reason he did not even consider indicting Trump on obstruction charges was because of guidance from the DOJ’s Office of Legal Counsel that a sitting president cannot be indicted.

That goes against assertions by Attorney General William Barr, who has repeatedly said the OLC’s opinion was not the only reason Mueller did not indict Trump.  

Arizona Republican Rep Debbie Lesko asked Mueller to clarify that contradiction, at which point he said he ‘would have to look closer at it’. 

He later conceded that he had misspoken when he characterized the OLC’s guidance to Lieu.  

‘We did not reach a determination as to whether the President committed a crime,’ he said.

‘Based on Justice Department policy and principles of fairness, we decided we would not make a determination as to whether the president committed a crime.’

Mueller was much less steady than in previous hearings

At times, Mueller, 74, stumbled during answers, asking fast-talking lawmakers to repeat page citations and repeat their questions. He sometimes had to scan the hearing room to locate questioners.

Although his stock answer was to say issues were beyond the purview of his mandate, he also appeared not to recall specific information at times.

‘Where are you reading from?’ he asked one member, Rep. James Sensenbrenner. ‘I am reading from my question,’ the Wisconsin Republican lawmaker told him.

Under questioning by Republican Rep Steve Chabot, Mueller didn’t show immediate familiarity with political intelligence firm Fusion GPS, a key player in the trail of the Steele Dossier, and a fixture of attention of President Trump and GOP critics of the Mueller probe.

Viewers reacting on social media called out Mueller’s unsteadiness early on, remarking that he was acting ‘like a confused old man’.

Some said the wobbly performance could be a delaying tactic on the part of the special counsel to frustrate Republican committee members determined to discredit findings that are damaging to Trump.

Mueller and Trump have opposing accounts of what led up to special counsel appointment

Republicans probed Mueller’s professional links with Trump in an attempt to show he may have had a reason to be biased against the president – specifically questioning whether he was turned down for the FBI director position the day before being tapped to lead the Russia investigation.

Trump gave his version of events on Wednesday morning, tweeting: ‘It has been reported that Robert Mueller is saying that he did not apply and interview for the job of FBI Director (and get turned down) the day before he was wrongfully appointed Special Counsel.

‘Hope he doesn’t say that under oath in that we have numerous witnesses to the interview, including the Vice President of the United States!’

Mueller contradicted Trump’s account when Texas Republican Rep Louie Gohmert seized on his alleged conflicts of interest.

Gohmert asked Mueller about a meeting he had with Trump the day before the special counsel appointment and contended that it was a job interview for the FBI director slot.

Mueller stated that he was not interviewed ‘as a candidate’ for the position.

Mueller fiercely defended his team’s impartiality 

The special counsel was calm and composed throughout the proceedings, save for one moment when Florida Republican Rep Greg Steube decried the political affiliations of the lawyers on his team.

Mueller said never in his 25 years in his position had he felt the need to ask the people he works with about their political affiliation.

Rep Gohmert also called Mueller’s hiring practices into question, particularly his appointment of FBI agent Peter Strzok – who was later removed from the probe after he was found to have sent anti-Trump text messages to a woman he was involved with.   

Mueller said he did not know of Strzok’s disdain for Trump before the probe started and learned about it in the summer of 2017, several months into the investigation.

Republicans tried to collect evidence for a probe into Mueller’s investigation

Republicans committee members tried both the blast the origins of the Russia probe and potentially establish a record that might play out in an ongoing investigation overseen by Attorney General William Barr.

‘Before you arrested [Trump campaign foreign policy aide] George Papadopoulos in July of 2017, he was given $10,000 in ash in Israel. Do you know who gave him that cash?’ California Rep Devin Nunes asked Mueller.

‘Again, that’s outside our … questions such as that should go to the FBI or the department,’ said Mueller.

‘But it involved your investigation,’ said Nunes.

‘It involved persons involved in my investigation,’ said Mueller.

Trump lawyer Jay Sekulow released a statement saying: ‘This morning’s testimony exposed the troubling deficiencies of the Special Counsel’s investigation. The testimony revealed that this probe was conducted by a small group of politically-biased prosecutors who, as hard as they tried, were unable to establish either obstruction, conspiracy, or collusion between the Trump campaign and Russia. It is also clear that the Special Counsel conducted his two-year investigation unimpeded. The American people understand that this issue is over. They also understand that the case is closed.’ 

Democrats tried to breathe life into a dense, technical report

The Democrats, who hold a majority on both committees, made a concerted effort to present the investigation’s findings in a more provocative and damning light than they had been in the dense, 337-page report.

‘Your investigation determined that the Trump campaign — including Trump himself — knew that a foreign power was intervening in our election and welcomed it, built Russian meddling into their strategy, and used it,’ California Rep Adam Schiff, the House Intelligence Committee chair, said when the afternoon portion began.

‘Disloyalty to country. Those are strong words, but how else are we to describe a presidential campaign which did not inform the authorities of a foreign offer of dirt on their opponent, which did not publicly shun it, or turn it away, but which instead invited it, encouraged it, and made full use of it?’ Schiff continued.

‘That disloyalty may not have been criminal. Constrained by uncooperative witnesses, the destruction of documents and the use of encrypted communications, your team was not able to establish each of the elements of the crime of conspiracy beyond a reasonable doubt, so not a provable crime, in any event’, he added.

However, a levelheaded Mueller didn’t play along, making for a rather mundane hearing.

https://www.dailymail.co.uk/news/article-7281303/Muellers-stumbling-responses-blockbuster-hearing-leave-social-media-concerned.html

 

 

Here’s Why Mueller Kept Getting Asked About a Mysterious Maltese Professor

BY VERA BERGENGRUEN 

JULY 24, 2019

In a moment that quickly made the rounds on conservative media on Wednesday, Rep. Jim Jordan sharply questioned Robert Mueller on the origins of the counterintelligence investigation into the Trump campaign’s ties to Russia.

The Ohio Republican pressed the former special counsel to detail who told George Papadopoulos, a young foreign policy aide on the Trump campaign, that the Russians had “dirt” on Hillary Clinton. When Mueller said he would not go into it, Jordan became heated.

“Yes you can, because you wrote about it – you gave us the answer!” Jordan said. “Joseph Mifsud.”

The name of the shadowy Maltese academic kept coming up on Wednesday as Republicans accused Mueller of covering up how the FBI came to investigate the Trump campaign’s alleged ties to Russia, a popular talking point for Trump allies. At the House Intelligence Committee hearing, Rep. Devin Nunes pointed to a large photo of Mifsud with then-U.K. foreign secretary Boris Johnson as evidence that he “has extensive contacts with Western governments and the FBI”.

Mifsud’s name would have been familiar for regular consumers of Fox News and conservative outlets that have spent two years dissecting what they believe was a “deep state” attempt to take down the Trump campaign. The London-based professor at the center of the Trump-Russia probe has not been seen in public since October 2017, just days after Papadopoulos pleaded guilty to lying to the FBI about his interactions with him. One of those was a key conversation in London in April 2016, in which Mifsud told him the Russians had damaging information on Clinton in the form of “thousands of emails.” Mifsud also introduced him to a Russian graduate student that Papadopoulos believed to be Putin’s niece, and connected him with an official with ties to the Russian foreign ministry who said he could set up a meeting with the country’s ambassador, according to Mueller’s report. Papadopoulos later relayed that information to an Australian diplomat, Alexander Downer, who passed it on to U.S. government officials, setting into motion the FBI investigation into Russian contacts with the Trump campaign.

Papadopoulos’ interactions with Mifsud, and his allegation that the Maltese professor was an FBI plant, has been at the center of some Republicans’ efforts to discredit Mueller’s probe. Papadopoulos told TIME in May that he believes he was part of an elaborate set-up by U.S. intelligence to sabotage Trump’s presidential campaign. Since serving a short sentence for lying to the FBI, Papadopoulos has continued to make the rounds alleging that Mifsud was a “Western intelligence operative” who tried to use him to entrap the Trump campaign.

“People are very fascinated about what I have to say, people are just like — their mouths are dropping,” he told TIME on April 17. “They’ve never heard this information because Mueller and the FBI wanted to keep me silenced.”

Perhaps anticipating this line of questioning, Mueller made it clear in his opening statement that he would be “unable to address questions about the opening of the FBI’s Russia investigation” because it is the subject of an ongoing review by the Justice Department.

That did not stop Jordan and Nunes, both vocal Trump supporters, from trying.

“He’s the guy who starts it all, and when the FBI interviews him, he lies three times and yet you don’t charge him with a crime,” Jordan exclaimed, angrily listing others charged by Mueller, including Michael Flynn and “13 Russians no one’s ever heard of.”

“But the guy who puts the country through this whole saga, starts it off, for three years we have lived this now, he lies and you guys don’t charge him,” he said.

“I’m not sure I agree with your characterization,” Mueller tersely responded, but Jordan’s performance was already going viral in conservative corners of the internet with headlines like “WATCH: Jim Jordan Steals the Show, Calls into Question Entire Basis of Probe!” and “‘BRUTAL’: Jim Jordan grills Mueller about why ‘guy who put this whole story in motion’ lied but wasn’t held accountable.” On Wednesday afternoon, Trump himself retweeted a clip of the exchange, indicating that Mifsud is unlikely to fade from the debate over the Russia investigation.

 

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The Pronk Pops Show 1292, July 18, 2019, Part 2 of 2 — Story 1: Google, YouTube, Facebook, Twitter, Big Tech Censorship of Conservative Content — Dennis Praeger Testifies Before U.S. Senate Committee — Videos — Story 2: House of Representatives Bipartisan Vote of 332 to 94 Not To Impeach President Trump — Videos –Story 3: President Trump Rally in North Carolina — New Politically Correct Chant — Send Them All Home — Open Border or Citizenship for Illegal Alien Democrats, Republicans and All Illegal Aliens — All 30 to 60 Million Illegal Aliens In The United States — Videos

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Story 1: Google, YouTube, Facebook, Twitter, Big Tech Censorship of Conservative Content — Dennis Praeger Testifies Before U.S. Senate Committee — Videos —

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Ted Cruz Grills Top Google Exec on Censorship of PragerU

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GOOGLE CLASSIFIES CONSERVATIVE CONTENT AS PORNOGRAPHY, CLAIMS FOX NEWS GUEST DENNIS PRAGER

The founder of Prager University, an unaccredited conservative media organization, appeared on Fox & Friends Tuesday claiming Google equates conservative video content to pornography.

Right-wing radio host Dennis Prager appeared on Fox News Tuesday morning just hours before he is set to accuse Google of political bias in testimony before members of Congress in Washington. Prager claims the Silicon Valley tech giants, but specifically Google, are gaming their algorithms against conservative content. He said dozens of PragerU’s 5-minute videos on topics ranging from Abraham Lincoln to the founding of Israel have been banned by the search giant and YouTube parent company as “pornography.” Prager claimed the group’s 300-plus videos get more than one billion views annually, but that about 60 of the wide variety of right-wing, historical videos are on Google’s “restricted” list.

“That means, if you block pornography you cannot see a discussion of Lincoln’s address at Gettysburg,” Prager told the Fox & Friends hosts Tuesday morning as an example of a topic in which he will testify. “It’s beyond belief.”

“Google classifies that as porno?” co-host Steve Doocy asked.

“Yes, yes, that is correct,” Prager said. “Why?” replied a stunned Ainsley Earhardt.

“Because we’re conservative,” Prager replied.

Prager University is not an accredited academic institution and offers no diplomas or certifications. It is, despite its name, a non-profit organization that creates frequently provocative political videos and advertisements from a conservative viewpoint.

Prager said a video describing how “human beings are even more precious than animals” was also placed on Google’s restricted list. “If you block pornography in your home you can’t see my video on why human life is precious. I’m not even talking about abortion, although that obviously should be allowed as well,” he said.

Another video featuring Fox News contributor Alan Dershowitz on the founding of Israel is also on the restricted list, Prager added.

The 70-year-old Prager discussed freedom of speech more broadly, saying he is old enough to remember when “liberals were defending real Nazis,” citing the Supreme Court ruling between the heavily Jewish Illinois village of Skokie and the National Socialist Party of America in the 1970s. Prager said the U.S. is currently engaged in a “non-violent civil war … between the left and the rest of the country.”

“Liberals and the left have almost nothing in common but liberals are cowed by the left and that’s the tragedy,” he noted.

Fox & Friends co-hosts Steve Doocy and Brian Kilmeade both predicted how they think this week’s Big Tech “conservative bias” hearings will go, with Kilmeade warning Prager they’re bringing out the “big guns” in terms of legal teams. Doocy predicted, “You know what they’re going to say: the algorithm.”

“That’s fine, then you have a terrible algorithm, I mean that is hilarious,” Prager replied. He then compared that defense to the driver of an automatic transmission vehicle running over children and blaming the car. “It’s an absurdity if they say it’s the algorithm, they created the algorithm let them reveal the algorithm to the public.”

dennis prager university google pornography
The founder of the conservative, unaccredited Prager University organization appeared on Fox & Friends Tuesday claiming Google equates conservative video content to pornography.SCREENSHOT: FOX NEWS

Ted Cruz Presses Executive on Why Google Disbanded Panel Rather Than Include Conservative Leader

vative Leader

Sen. Ted Cruz, R-Texas, wants Google to explain why it disbanded an advisory council after Google employees objected to including the president of The Heritage Foundation. Pictured: Cruz speaks Tuesday during his subcommittee hearing on Google and censorship. (Photo: Alex Wong/Getty Images)

Sen. Ted Cruz, R-Texas, called out a Google vice president Tuesday afternoon for the tech giant’s decision to dissolve an advisory council on artificial intelligence after inviting Heritage Foundation President Kay Coles James to join the panel.

Cruz asked Karan Bhatia, Google’s vice president of government affairs and public policy, about the worldwide internet company’s disbanding of the advisory council after Google employees objected to including the head of the leading conservative think tank.

“You worked at The Heritage Foundation, I believe you said,” Cruz told Bhatia during a hearing held by the Judiciary subcommittee on the Constitution. “Do you consider The Heritage Foundation to be some fringe organization?”

Bhatia replied that he considered Heritage to be a conservative organization.

The liberal Left continue to push their radical agenda against American values. The good news is there is a solution. Find out more >>

“So 2,500 Google employees signed a petition to have Ms. James removed from the council and they said, quote, ‘By appointing James to the ATEAC, Google elevates and endorses her views implying that hers is a valid perspective worthy of its inclusion in this decision making, this is unacceptable,’” Cruz said.

The formal name of Google’s short-lived panel was the Advanced Technology External Advisory Council.

The petition accused James of being “vocally anti-trans, anti-LGBTQ, and anti-immigrant,” and said, “In selecting James, Google is making clear that its version of ‘ethics’ values proximity to power over the wellbeing of trans people, other LGBTQ people, and immigrants.”

“Google, in response to this, dissolved the entire committee,” Cruz said to Bhatia. “Do you understand when you see that kind of bias, saying, ‘A conservative African-American woman’s views are not valid and not worthy of inclusion,’ that the American people would say, ‘These guys are silencing voices they disagree with’?”

James, who is black, overcame racial discrimination in Virginia as a girl and eventually became an educator and top state and federal government official before being named president of The Heritage Foundation, where she had been a trustee for more than a decade.

Bhatia told Cruz, chairman of the subcommittee, that the 2,500 employees who objected to James did not make up a large percentage of the Google workforce.

“Senator, the 2,500 amounts to something around 2% of the Google employees,” Bhatia said.

“But Google acted on their recommendation. You dissolved the committee,” Cruz replied.

>>> Commentary: Google Caves to the Intolerant Left, Betraying Its Own Ideals

Bhatia disagreed.

“No, Senator, we did not,” he said. “What happened in that situation is that it’s a committee that consisted of a number of members; as time progressed, a number of members of the committee other than Ms. James decided to fall off the committee, to withdraw from the committee.”

Cruz continued to press the issue.

“Is this your testimony, Mr. Bhatia? Because I’m finding this difficult to credit. Is it your testimony that Google did not dissolve the committee because your employees were mad that anyone right of center was included?”

The Google vice president answered Cruz by saying the company pulled the plug on the advisory council because executives didn’t see it going anywhere.

“We dissolved the committee, Senator. I think we were clear at the end of the day that it was not going to be viable to continue the council given what we were seeing happen with other members of the committee,” Bhatia said.

Heritage’s James discussed the experience in an April op-ed for The Washington Post, writing that “the Google employees didn’t just attempt to remove me; they greeted the news of my appointment to the council with name-calling and character assassination.”

“They called me anti-immigrant and anti-LGBTQ and a bigot. That was an odd one, because I’m a 69-year-old black woman who grew up fighting segregation,” James added.

Referring to Google’s decision to end the panel, James wrote, “The company has given in to the mentality of a rage mob.”

Ted Cruz Presses Executive on Why Google Disbanded Panel Rather Than Include Conservative Leader

2 Senators Call for Investigation Into Big Tech’s Censorship

Two of the country’s staunchest big tech critics are asking the Federal Trade Commission to investigate social media companies’ perceived censorship practices.

Facebook, Google, and Twitter exercise lots of influence on Americans and they also use their tools to censor some content while amplifying others, Sens. Ted Cruz of Texas and Josh Hawley of Missouri wrote in a letter Monday to the Federal Trade Commission. They are asking the agency to open a public probe into the impact such policies have on people.

dailycallerlogo“Companies that are this big and that have the potential to threaten democracy this much should not be allowed to curate content entirely without any transparency,” they wrote. “These companies can greatly influence democratic outcomes, yet they have not accountability to voters.”

They added: “They are not even accountable to their own customers because nobody knows how these companies curate content.” Cruz and Hawley are two of the biggest Republican critics of Google and Facebook, both of which are consistently accused of discriminating against conservative content.

The liberal Left continue to push their radical agenda against American values. The good news is there is a solution. Find out more >>

Hawley, for his part, introduced the Ending Support for Internet Censorship Act in June that aims to amend Section 230 of the Communications Decency Act, which gives online companies immunity only if they can show they are politically neutral. Section 230 was passed in 1996, when the internet was in its infancy.

Other Republicans are taking a more critical stance against big tech companies as well. Sen. Lindsey Graham of South Carolina, for one, is dinging Google for not doing enough to protect children.

“Things would change tomorrow if you could get sued,” Graham said during a congressional hearing on July 9 dealing with online dangers to kids. YouTube is under pressure to turn off its recommendation systems for videos featuring kids after reports showed potential predators were abusing the feature.

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities for this original content, email licensing@dailycallernewsfoundation.org.

 

Story 3: President Trump Rally in Greenville, North Carolina — New Improved Politically Correct Chant — “Send Them All Home” — Open Border or Citizenship for Illegal Alien Democrats, Republicans and All Illegal Aliens — All 30 to 60 Million Illegal Aliens In The United States — Videos

Speech: Donald Trump Holds a Political Rally in Greenville, North Carolina – July 17, 2019

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[youtube3=https://www.youtube.com/watch?v=PIDK7pwzTgE]

 

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The Pronk Pops Show 1278, June 20, 2019, Part 1– Story 1: President Trump: “Iran made a very big mistake” — Option A: Strong Message and Done , Option B: One Missile Attack and Done, Option C: Total War With Iran and World Recession Due To Spike in Oil and Gas Prices — Videos — Story 2: Federal Reserve Board Votes To Keep Federal Funds Target Range of 2.25% to 2.5% Waiting For July 2019 Jobs Report and Second Quarter Real GDP Growth Rate Number — Videos — Story 3: Creepy, Sleepy, Dopey Joey Biden in Praise of Civility of Democrat Segregationist Senators — Radical Extremist Democrats (REDS) Attack Biden — Videos — Part 2– Story 4: President Trump Pushes All The Right Buttons in 2020 Stump Speech in Orlando, Florida — Boom Boom Boom — Send Them Home — MAGA MAGA MAGA — Lock Them Up — Four More Years — Keep America Great — Win Win Win — Videos

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Story 1: President Trump: “Iran made a very big mistake” — Option A: Strong Message and Done, Option B: One Missile Attack and Done, Option C: Total War With Iran and World Recession Due To Spike in Oil and Gas Prices — Videos —

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Iran shoots down US drone as tensions escalate

Video shows Iran shooting down US drone

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President Trump makes first comments after Iran shoots down U.S. Drone | ABC News Special Report

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Can air strikes take out Iran’s nuclear facilities?

Did Trump Just Blink or Bluff in Standoff With Iran?

Anthony Halpin

Bloomberg

Was it all a bluff? After news leaked that President Donald Trump approved and then called off U.S. airstrikes on Iran last night, it emerged he’d warned Tehran about an imminent attack while insisting he was against a war.

Today, as airlines began re-routing flights away from the Strait of Hormuz, Iran’s Foreign Ministry called in the Swiss ambassador, who also represents U.S. interests, for talks.

Was the outreach why Trump abandoned the strikes? Or was this the latest example of the whipsaw approach from a president who’s twice attacked Syria but also backed away from using force after lashing out at Iran and North Korea?

The leak of Trump’s about-face also speaks volumes about the battle for influence in the White House. Hardliners clearly thought they’d convinced him to back a tough response to Iran’s downing of a U.S. Navy drone. Yet Trump was elected on a pledge to pull out of Middle East wars.

The president, who governs with the cliffhanger style of his Apprentice TV show, thrives on keeping supporters hooked on dramatic twists.

But as his 2020 re-election campaign gains steam, the stakes now include the prospect of armed conflict and instability in a region that supplies a third of the world’s oil.

Global Headlines

Biden’s burden | Democratic front-runner Joe Biden is encountering the same pitfalls as other seasoned politicians who’ve found their experience and record can be a liability. The former Delaware senator’s struggles to defend his remarks this week about finding common ground with two segregationists is an early sign of the trouble he could have explaining a complicated voting record and his nostalgia for a Washington collegiality that has steadily diminished since he was first elected in 1972.

Border control | Trump praised Mexico’s efforts to crack down on migrants crossing the border into the U.S. after the two countries entered an agreement aimed at stemming the flow of people entering Mexico from Central America. Mexico will take greater control of its southern border and ask foreigners to register their arrival.

Osaka drama | Before Trump, Group of 20 summits were dull if worthy affairs. This year’s gathering in Osaka, Japan next week promises to be anything but, as the U.S. president holds talks with China’s Xi Jinping after threatening to escalate their trade conflict. The best-case scenario would be a pause in new U.S. tariffs and a resumption of negotiations that broke down in May. The worst-case would be a new Cold War between the two largest economies.

Favorites flushed | European Union leaders cast aside the candidates who’ve dominated the race to head the next EU Commission and will start from scratch less than two weeks before a self-imposed deadline. The decision at a summit in Brussels extends gridlock that has left investors in the dark over a series of critical posts including the next president of the European Central Bank.

Bad air | As climate change tops political agendas from Washington to New Delhi, there’s no solution in sight for the bad air choking Europe’s poorest countries. While the EU has focused mostly on stability in the volatile Balkans, health problems and lost productivity from air pollution cost the continent more than 10 billion euros a year. Obsolete coal plants and cars spew smog and hundreds of thousands of people burn tires, wood and trash to stay warm.

What to Watch

Boris Johnson and Jeremy Hunt will go head-to-head in the contest to become the U.K.’s next prime minister as they seek votes from the Conservative Party’s 160,000 grassroots members over the next month. Ukraine’s Constitutional Court threw out a challenge to a decree by President Volodymyr Zelenskiy ordering early parliamentary elections. The ruling confirmed a vote will take place next month and a new government should be in place by the fall. Turkey reruns the election for mayor of Istanbul on Sunday, pitting former prime minister and ruling AK Party candidate Binali Yildirim against opposition challenger Ekrem Imamoglu, who was stripped of his narrow victory in the March 31 ballot.

And finally…The U.K. is poised to generate more energy from low-carbon sources than from fossil fuels for the first time since the Industrial Revolution. Wind, solar, hydro and nuclear plants provided 48% of the nation’s power in the first five months of this year. The U.K. has gone without burning coal, the dirtiest fossil fuel, for the equivalent of 80 days so far in 2019, including one stretch of 18 days in a row.

–With assistance from Kathleen Hunter and Daniel Ten Kate.

https://news.yahoo.com/did-trump-just-blink-bluff-100815556.html

Trump says Iran made ‘big mistake’ by taking down US drone

today

President Donald Trump speaks during a meeting with Canadian Prime Minister Justin Trudeau in the Oval Office of the White House, Thursday, June 20, 2019, in Washington. Trump declared Thursday that “Iran made a very big mistake” in shooting down a U.S. drone but suggested it was an accident rather than a strategic error. (AP Photo/Evan Vucci)

WASHINGTON (AP) — President Donald Trump declared Thursday that “Iran made a very big mistake” by shooting down a U.S. surveillance drone over the Strait of Hormuz but suggested it was a foolish error rather than an intentional escalation of the tensions that have led to rising fears of open military conflict.

Asked about a U.S. response, the president said pointedly, “You’ll soon find out.”

The downing of the huge, unmanned aircraft , which Iran portrayed as a deliberate defense of its territory rather than a mistake, was a stark reminder of the risk of military conflict between U.S. and Iranian forces as the Trump administration combines a “maximum pressure” campaign of economic sanctions against Iran with a buildup of American forces in the region.

The drone — which has a wingspan wider than a Boeing 737 — entered Iranian airspace “despite repeated radio warnings” and was shot down by Iran, acting under the U.N. Charter which allows self-defense action “if an armed attack occurs,” Iran’s U.N. Ambassador Majid Takht Ravanchi said in a letter to the U.N. secretary-general.

Donald Trump is playing down Iran's downing of an American drone, saying that it might have been a mistake executed by someone just being "loose and stupid." He said it was a "new wrinkle" in escalating tensions between the U.S. and Iran. (June 20)

Trump, who has said he wants to avoid war and negotiate with Iran over its nuclear ambitions, appeared to play down the significance of the shootdown.

He cast it as “a new wrinkle … a new fly in the ointment.” Yet he also said that “this country will not stand for it, that I can tell you.”

Shortly before Trump spoke, Air Force Lt. Gen. Joseph Guastella, commander of U.S. Central Command air forces in the region, took a more pointed view of the shootdown in an area where Trump has blamed Iran for attacking shipping vessels.

“This attack is an attempt to disrupt our ability to monitor the area following recent threats to international shipping and free flow of commerce,” he said.

The Trump administration has been putting increasing economic pressure on Iran for more than a year. It reinstated punishing sanctions following Trump’s decision to pull the U.S. out of an international agreement intended to limit Iran’s nuclear program in exchange for relief from earlier sanctions.

The other world powers who remain signed on to the nuclear deal have set a meeting to discuss the U.S. withdrawal and Iran’s announced plans to increase its uranium stockpile for June 28, a date far enough in the future to perhaps allow tensions to cool.

Citing Iranian threats, the U.S. recently sent an aircraft carrier to the Persian Gulf region and deployed additional troops alongside the tens of thousands already there. All this has raised fears that a miscalculation or further rise in tensions could push the U.S. and Iran into an open conflict 40 years after Tehran’s Islamic Revolution.

“We do not have any intention for war with any country, but we are fully ready for war,” Revolutionary Guard commander Gen. Hossein Salami said in a televised address.

The paramilitary Guard, which answers only to Supreme Leader Ayatollah Ali Khamenei, said it shot down the drone at 4:05 a.m. Thursday when it entered Iranian airspace near the Kouhmobarak district in southern Iran’s Hormozgan province. Kouhmobarak is about 1,200 kilometers (750 miles) southeast of Tehran.

The first U.S. reaction was Trump’s Thursday morning tweet of six forceful words: “Iran made a very big mistake.”

But later, while meeting with Canadian Prime Minister Justin Trudeau, Trump said, “I would imagine it was a general or somebody that made a mistake in shooting that drone down.

He said the American drone was unarmed and unmanned and “clearly over international waters.” It would have “made a big, big difference” if someone had been inside, he said.

“I find it hard to believe it was intentional, if you want to know the truth,” Trump said. “I think that it could have been somebody who was loose and stupid that did it.”

Taking issue with the U.S. version of where the attack occurred, Iranian Foreign Minister Mohammad Javad Zarif tweeted that his country had retrieved sections of the military drone “in OUR territorial waters where it was shot down.” He said, “We don’t seek war but will zealously defend our skies, land & waters.”

U.S. Gen. Guastella disputed that contention, telling reporters that the aircraft was 34 kilometers (21 miles) from the nearest Iranian territory and flying at high altitude when struck by a surface-to-air missile. The U.S. military has not commented on the mission of the remotely piloted aircraft that can fly higher than 10 miles in altitude and stay in the air for over 24 hours at a time.

One U.S. official said there was a second American aircraft in the area that was able to get video and imagery of the drone when it was shot down.

Congressional leaders came to the White House for an hour-long briefing in the Situation Room late Thursday with top national security officials including Secretary of State Mike Pompeo, CIA Director Gina Haspel, Joint Chiefs Chairman Gen. Joseph Dunford acting Defense Secretary Patrick Shanahan and Army Secretary Mark Esper, whom Trump has said he’ll nominate as Pentagon chief.

The Senate’s top Democrat called the downing of the American drone “deeply concerning” and accused the administration of not having an Iran strategy and keeping Congress and the rest of the nation in the dark.

“The president needs to explain to the American people why he’s driving us toward another endless conflict in the Middle East,” said Sen. Chuck Schumer of New York.

House Speaker Nancy Pelosi said she didn’t think Trump wanted war with Iran and the American people have “no appetite” for it either. She said the U.S. needs to be “strong and strategic” about protecting its interests but “cannot be reckless.”

Talking tougher, Republican Sen. Lindsey Graham of South Carolina called Iran a “murderous regime” and said, “If they’re itching for a fight they’re going to get one.”

“We’re a lot closer today than we were yesterday, and only God knows what tomorrow brings,” said Graham, a Trump ally who talked with the president by telephone.

The senator also focused on the issue of Iran’s nuclear ambitions, saying its leaders have refused to negotiate after Trump withdrew the U.S. from the international agreement to limit Iranian development of nuclear weapons.

Graham said it’s imperative that the U.S. clearly tell the Iranians that any attempt to increase uranium enrichment will be seen as a “hostile act against the United States and our allies in Israel and will not go unanswered.”

Another factor: This all comes as Trump is launching his re-election campaign. He ran for president promising to bring American troops home from the Middle East and Afghanistan and has repeatedly said he wants to keep America out of “endless wars.”

Ari Fleischer, who was press secretary for President George W. Bush, cautioned against thinking about politics when weighing any response to Iran.

“I suspect a successful limited counter-strike, such as taking out the missile battery that fired at the drone or the sinking of an unmanned Iranian vessel, would be seen as a well-calibrated show of resolve and discipline,” Fleischer said in an interview. He added that “if we do nothing, Iran may strike again thinking it has impunity.”

https://apnews.com/84ad15edb7324472bb867852059a0a7a

Iran shoots down US surveillance drone, heightening tensions

29 minutes ago

In this Oct. 24, 2018, photo released by the U.S. Air Force, members of the 7th Reconnaissance Squadron prepare to launch an RQ-4 Global Hawk at Naval Air Station Sigonella, Italy. Iran’s Revolutionary Guard shot down a U.S. RQ-4 Global Hawk on Thursday, June 20, 2019, amid heightened tensions between Tehran and Washington over its collapsing nuclear deal with world powers, American and Iranian officials said, though they disputed the circumstances of the incident. (Staff Sgt. Ramon A. Adelan/U.S. Air Force via AP)

TEHRAN, Iran (AP) — Iran’s Revolutionary Guard shot down a U.S. surveillance drone Thursday in the Strait of Hormuz, marking the first time the Islamic Republic directly attacked the American military amid tensions over Tehran’s unraveling nuclear deal with world powers.

The two countries disputed the circumstances leading up to an Iranian surface-to-air missile bringing down the U.S. Navy RQ-4A Global Hawk, an unmanned aircraft with a wingspan larger than a Boeing 737 jetliner and costing over $100 million.

Iran said the drone “violated” its territorial airspace, while the U.S. called the missile fire “an unprovoked attack” in international airspace over the narrow mouth of the Persian Gulf and President Donald Trump tweeted that “Iran made a very big mistake!”

Trump later appeared to play down the incident, telling reporters in the Oval Office that he had a feeling that “a general or somebody” being “loose and stupid” made a mistake in shooting down the drone.

AP Graphic

The incident immediately heightened the crisis already gripping the wider region, which is rooted in Trump withdrawing the U.S. a year ago from Iran’s 2015 nuclear deal and imposing crippling new sanctions on Tehran. Recently, Iran quadrupled its production of low-enriched uranium to be on pace to break one of the deal’s terms by next week while threatening to raise enrichment closer to weapons-grade levels on July 7 if Europe doesn’t offer it a new deal.

Citing unspecified Iranian threats, the U.S. has sent an aircraft carrier to the Middle East and deployed additional troops alongside the tens of thousands already there. All this has raised fears that a miscalculation or further rise in tensions could push the U.S. and Iran into an open conflict 40 years after Tehran’s Islamic Revolution.

“We do not have any intention for war with any country, but we are fully ready for war,” Revolutionary Guard commander Gen. Hossein Salami said in a televised address.

The paramilitary Guard, which answers only to Supreme Leader Ayatollah Ali Khamenei, said it shot down the drone at 4:05 a.m. Thursday when it entered Iranian airspace near the Kouhmobarak district in southern Iran’s Hormozgan province. Kouhmobarak is about 1,200 kilometers (750 miles) southeast of Tehran.

Iran’s Revolutionary Guard commander Gen. Hossein Salami. (Sepahnews via AP)

The drone took off from the southern Persian Gulf and collected data from Iranian territory, including the southern port of Chahbahar near Iran’s border with Pakistan, the Guard said in comments that appeared aimed at showing it could track the aircraft.

The U.S. military has not commented on the mission of the remotely piloted aircraft that can fly higher than 10 miles in altitude and stay in the air for over 24 hours at a time.

Iran used its air defense system known as Third of Khordad to shoot down the drone — a truck-based missile system that can fire up to 18 miles (30 kilometers) into the sky, the semi-official Fars news agency reported.

Iranian state TV later broadcast video it described as the moment the Guard launched the surface-to-air missile that struck the U.S. drone. Chants of “God is great!” could be heard as a fireball appeared in the darkened sky.

Typically, militaries worldwide call out to errant aircraft entering their airspace before firing. It’s unclear whether Iran gave any warning before opening fire. The U.S. military says Iran fired on and missed another drone last week near the Strait of Hormuz, the narrow mouth of the Persian Gulf through which 20% of all global oil moves.

The U.S. has been worried about international shipping through the strategic waterway since tankers were damaged in May and June in what Washington has blamed on limpet mines from Iran, although Tehran denied involvement.. On Wednesday in the United Arab Emirates, the U.S. Navy showed fragments of mines that it said bore “a striking resemblance” to those seen in Iran

The RQ-4 Global Hawk was at least 34 kilometers from Iranian territory when it was shot down by an Iranian surface-to-air missile, said Air Force Lt. Gen. Joseph Guastella, commander of the U.S. Central Command. He said it was an attempt to disrupt U.S. efforts to monitor the Persian Gulf region.

But Salami, speaking to a crowd in the western city of Sanandaj, described the American drone as “violating our national security border.”

“Borders are our red line,” the Revolutionary Guard general said. “Any enemy that violates the borders will be annihilated.”

Iran’s Foreign Ministry also said the drone entered Iranian airspace, and Foreign Minister Mohammad Javad Zarif tweeted it would take its case to the U.N. He later tweeted that Iran retrieved parts of the drone in its territorial waters.

Russian President Vladimir Putin urged caution, warning any war between Iran and the U.S. would be a “catastrophe for the region as a minimum.”

Israeli Prime Minister Benjamin Netanyahu urged support for U.S. efforts to halt what he called escalating Iranian provocations.

“In the last 24 hours, Iran has intensified its aggression against the United States and against all of us,” he said.

U.N. Secretary-General Antonio Guterres expressed concern and urged all parties to “avoid any action that could inflame the situation,” said U.N. spokesman Stephane Dujarric.

America stations some RQ-4 Global Hawks at the Al-Dhafra Air Base in the UAE, near the capital of Abu Dhabi. Associated Press journalists saw the drones on the base’s tarmac during a March 2016 visit by then-Vice President Joe Biden. The U.S. military occasionally publishes images from there of the drones, which have a distinctive hump-shaped front and an engine atop the fuselage.

Iran has claimed to have shot down U.S. drones before. In the most famous incident, in December 2011, Iran seized an RQ-170 Sentinel flown by the CIA to monitor Iranian nuclear sites after it entered Iranian airspace from neighboring Afghanistan. Iran later reverse-engineered the drone to create their own variants.

Elsewhere in the region Thursday, Saudi Arabia said Yemen’s Iranian-backed Houthi rebels fired a rocket at a desalination plant in al-Shuqaiq, a city in the kingdom’s Jizan province. The state-run Saudi Press Agency quoted military spokesman Col. Turki al-Maliki as saying it caused no damage or casualties.

The Yemeni rebel Al-Masirah satellite news channel earlier said the Houthis targeted a power plant in Jizan, near the kingdom’s border with Yemen, with a cruise missile.

A coalition led by Saudi Arabia, a key U.S. ally, has been battling the Houthis since March 2015 in Yemen, the Arab world’s poorest nation now pushed to the brink of famine by the conflict. In recent weeks, the Houthis have launched a new campaign sending missiles and bomb-laden drones into Saudi Arabia.

https://apnews.com/e4316eb989d5499c9828350de8524963

 

 

Story 2: Federal Reserve Board Votes To Keep Federal Funds Target Range of 2.25% to 2.5% Waiting For July 2019 Jobs Report and Second Quarter Real GDP Growth Rate Number — Videos

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Trump slams Fed over interest rate policy

Fed Chair Jerome Powell speaks to media following interest rate decision – 06/19/2019

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Trump expected Powell to be a ‘cheap-money’ Fed chairman

S&P 500 closes at new record as Wall Street bets Fed will lower rates, Dow surges nearly 250 points

VIDEO02:12
The S&P 500 just closed at a record high — Here’s what four experts say to watch

Stocks rallied on Thursday, led by strong gains in tech and energy shares, as Wall Street cheered the possibility that the Federal Reserve will cut interest rates next month.

The S&P 500 surged 1% to 2,954.18, a record close. The broad index also hit an intraday record of 2,958.06. The Dow Jones Industrial Average closed 249.17 points higher at 26,753.17. The Nasdaq Composite gained 0.8% to end the day at 8,051.34.

The yield on the 10-year Treasury fell below 2% for the first time since November 2016. Investors cheered the decline in the benchmark for mortgage rates and corporate bonds.

The energy sector rose more than 2% to lead all 11 S&P 500 sectors higher as oil prices jumped. Tech gained 1.4% after shares of Oracle surged more than 8% on stronger-than-forecast earnings. General Electric’s 2.8% rise pushed the industrials sector up more than 1.6% on the day.

“Markets are based on numbers and perception. If the perception is rates are getting cut, that’s going to drive markets higher,” said Kathy Entwistle, senior vice president of wealth management at UBS. “UBS’ stance up until yesterday was we wouldn’t see any rate cuts this year. Now we see a much larger chance of a 50-basis-point cut.”

The Fed said Wednesday it stands ready to battle growing global and domestic economic risks as they took stock of intensifying trade tensions and growing concerns about inflation. Most Fed policymakers slashed their rate outlook for the rest of the calendar year by approximately half a percentage point in the previous session, while Chairman Jerome Powell said others agree the case for lower rates is building.

Policymakers also dropped “patient” from the Fed’s statement and acknowledged that inflation is “running below” its 2% objective.

Market participants viewed the overall tone from the U.S. central bank as more dovish than expected. Traders are now pricing in a 100% chance of a rate cutnext month, according to the CME FedWatch tool.

With Thursday’s gains, the market has now erased the steep losses recorded by the major indexes in May, which were sparked by trade fears. The S&P 500 and Dow both fell more than 6% while the Nasdaq lost 7.9% last month. The three indexes were up more than 7% for June.

China and the U.S. hiked tariffs on billions of dollars worth of their goods in May. Stocks turned around this month as traders bet the rising trade tensions, coupled with weaker economic data, would lead the Fed to ease its monetary policy stance.

The Fed’s message on Wednesday sent the 10-year Treasury yield to as low as 1.974% before ending the day around 2.02%. The yield stood at 2.8% in January.

“The FOMC reinforced the market’s conviction,” said Steve Blitz, chief U.S. economist at TS Lombard, in a note. “Barring a dramatic turnaround in the data, the next move is a cut – perhaps even a 50bp reduction.”

The dollar also took a hit against other major currencies. The dollar index dropped 0.5% to 96.65, led by a 0.6% slide in the euro. The yen and Canadian dollar also rose against the U.S. currency.

Energy shares got a boost from higher oil prices. The Energy Select Sector SPDR Fund (XLE) climbed 2.2% as shares of Exxon Mobil gained 1.7%. Oil prices surged 5.4% after a U.S. official said a drone was shot down over Iranian airspace.

Meanwhile, Slack shares surged more than 40% in their first day of trading. The stock closed above $38 after setting a reference price of $26.

https://www.cnbc.com/2019/06/20/stock-market-dow-futures-higher-after-fed-raises-rate-cut-hopes.html

Federal Open Market Committee

About the FOMC

Recent FOMC press conference

June 19, 2019

FOMC Transcripts and other historical materials

The term “monetary policy” refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals. The Federal Reserve Act of 1913 gave the Federal Reserve responsibility for setting monetary policy.

The Federal Reserve controls the three tools of monetary policy–open market operationsthe discount rate, and reserve requirements. The Board of Governors of the Federal Reserve System is responsible for the discount rate and reserve requirements, and the Federal Open Market Committee is responsible for open market operations. Using the three tools, the Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks and in this way alters the federal funds rate. The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight.

Changes in the federal funds rate trigger a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services.

Structure of the FOMC

The Federal Open Market Committee (FOMC) consists of twelve members–the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. The rotating seats are filled from the following four groups of Banks, one Bank president from each group: Boston, Philadelphia, and Richmond; Cleveland and Chicago; Atlanta, St. Louis, and Dallas; and Minneapolis, Kansas City, and San Francisco. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee’s assessment of the economy and policy options.

The FOMC holds eight regularly scheduled meetings per year. At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.

For more detail on the FOMC and monetary policy, see section 2 of the brochure on the structure of the Federal Reserve Systemand chapter 2 of Purposes & Functions of the Federal Reserve System. FOMC Rules and Authorizations are also available online.

2019 Committee Members

Alternate Members

Federal Reserve Bank Rotation on the FOMC

Committee membership changes at the first regularly scheduled meeting of the year.

2020 2021 2022
Members New York
Cleveland
Philadelphia
Dallas
Minneapolis
New York
Chicago
Richmond
Atlanta
San Francisco
New York
Cleveland
Boston
St. Louis
Kansas City
Alternate
Members
New York
Chicago
Richmond
Atlanta
San Francisco
New York
Cleveland
Boston
St. Louis
Kansas City
New York
Chicago
Philadelphia
Dallas
Minneapolis

 †For the Federal Reserve Bank of New York, the First Vice President is the alternate for the President. Return to table

For additional information, please use the FOMC FOIA request form.

https://www.federalreserve.gov/monetarypolicy/fomc.htm

 

Fed holds rates steady, but opens the door for a rate cut in the future

The action sets up a possible confrontation between Fed Chairman Jerome Powell and President Donald Trump, who has been pressuring the Fed to cut rates. Just Tuesday, Trump said “let’s see what he does” at the Fed meeting when asked if he still wants to demote Powell.

At the post-statement news conference, Powell was asked about his future as chairman. “I think the law is clear that I have a four year term, and I fully intend to serve it,” he said.

The strong majority for this month’s decision contrasted with a sharp difference of opinion on what happens next.

The committee provided an important nod to those worried about slower growth: It dropped the word “patient” in  describing its approach to policy. The characterization was a key part of the Fed “pivot” earlier this year that signaled to the market a more dovish approach to rates.

“The Fed didn’t surprise investors with the decision to maintain rates, but the split vote tells us that a cut is on the way and it’s increasingly likely that will be in July, as bond markets have been hoping,” said Neil Birrell, chief investment officer at Premier Asset Management.

“This was probably the compromise decision — it wasn’t shocking and should offer some reassurance,” Steve Rick, chief economist at CUNA Mutual Group, said in a note. “The FOMC will still want to closely monitor the stress fractures from the bond market, middling housing and auto sales numbers, and an increasingly uncertain global economic landscape in the coming months.”

The statement also changed wording to concede that inflation is “running below” the Fed’s 2% objective. In their forecast for headline inflation this year, officials slashed the estimate to 1.5% from March’s 1.8%. Core inflation, which excludes volatile food and energy prices, is likely now to be 1.8% from March’s 2%, according to the quarterly summary of economic projections also released Wednesday.

‘In light of these uncertainties’

The committee changed language from its May statement to indicate that economic activity is “rising at a moderate rate,” a downgrade from “solid.”

In their baseline scenario, FOMC members said they still expect “sustained expansion of economic activity” and a move toward 2% inflation, but realize that “uncertainties about this outlook have increased.”

“In light of these uncertainties and muted inflation pressures, the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2 percent objective,” the statement said. The “act as appropriate to sustain the expansion” language mirrors a statement from Powell in early June.

Very reasonable to think Fed will cut rates twice this year: Strategist

The committee characterized the labor market as “strong” with “solid” jobs growth, despite May’s disappointing nonfarm payrolls growth of 75,000. The statement further said that household spending “appears to have picked up from earlier in the year.”

The changes came amid what appeared to be little consensus among the committee about where rates go next.

Divided Fed

According to the “dot plot” of individual members’ expectations, eight members favor one cut this year while the same number voted in favor of the status quo and one still wants a rate hike. Bullard and Minneapolis Fed President Neel Kashkari have led the public discussion about the potential for rate cuts, while other members have been less firm.

Into 2020, the Fed consensus was a bit stronger, with nine members wanting a cut to a funds rate around 2.1%. The direction changes, though, in 2021, with indications of an increase of about a quarter-point, culminating in an expected long-run value of 2.5%. The funds rate most recently was trading at 2.37%.

Traders in the thin and volatile funds market had been pricing in a 26% chance of a cut at this week’s meeting. Later in the year, though, the probability for a July easing rose to 82.5% and the chances of a second cut in December were most recently at 60.4%. The market expects a third cut to come around March of 2020.

While the statement language offered some significant changes, estimates in the summary of economic projections, other than inflation, moved little from March. GDP growth is still expected to be 2.1% for the year – it was 3.1% in the first quarter, and the Atlanta Fed is forecasting a 2% gain in the second quarter. The unemployment rate is now expected to hold at a 50-year low of 3.6%, against the March forecast of 3.7%.

https://www.cnbc.com/2019/06/19/fed-decision-fed-leaves-rates-unchanged.html

10-year Treasury yield drops below 2% for first time since November 2016

Federal funds rate

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Federal Funds Rate compared to U.S. Treasury interest rates

2 to 10 year treasury yield spread

Inflation (blue) compared to federal funds rate (red)

Quarterly gross domestic product compared to Federal Funds Rate.

Federal Funds Rate and Treasury interest rates from 2002-2019

In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis. Reserve balances are amounts held at the Federal Reserve to maintain depository institutions’ reserve requirements. Institutions with surplus balances in their accounts lend those balances to institutions in need of larger balances. The federal funds rate is an important benchmark in financial markets.[1][2]

The interest rate that the borrowing bank pays to the lending bank to borrow the funds is negotiated between the two banks, and the weighted average of this rate across all such transactions is the federal funds effective rate.

The federal funds target rate is determined by a meeting of the members of the Federal Open Market Committee which normally occurs eight times a year about seven weeks apart. The committee may also hold additional meetings and implement target rate changes outside of its normal schedule.

The Federal Reserve uses open market operations to make the federal funds effective rate follow the federal funds target rate. The target rate is chosen in part to influence the money supply in the U.S. economy[3]

Contents

Mechanism

Financial institutions are obligated by law to maintain certain levels of reserves, either as reserves with the Fed or as vault cash. The level of these reserves is determined by the outstanding assets and liabilities of each depository institution, as well as by the Fed itself, but is typically 10%[4] of the total value of the bank’s demand accounts (depending on bank size). In the range of $9.3 million to $43.9 million, for transaction deposits (checking accountsNOWs, and other deposits that can be used to make payments) the reserve requirement in 2007–2008 was 3 percent of the end-of-the-day daily average amount held over a two-week period. Transaction deposits over $43.9 million held at the same depository institution carried a 10 percent reserve requirement.

For example, assume a particular U.S. depository institution, in the normal course of business, issues a loan. This dispenses money and decreases the ratio of bank reserves to money loaned. If its reserve ratio drops below the legally required minimum, it must add to its reserves to remain compliant with Federal Reserve regulations. The bank can borrow the requisite funds from another bank that has a surplus in its account with the Fed. The interest rate that the borrowing bank pays to the lending bank to borrow the funds is negotiated between the two banks, and the weighted average of this rate across all such transactions is the federal funds effective rate.

The federal funds target rate is set by the governors of the Federal Reserve, which they enforce by open market operations and adjustments in the interest rate on reserves.[5] The target rate is almost always what is meant by the media referring to the Federal Reserve “changing interest rates.” The actual federal funds rate generally lies within a range of that target rate, as the Federal Reserve cannot set an exact value through open market operations.

Another way banks can borrow funds to keep up their required reserves is by taking a loan from the Federal Reserve itself at the discount window. These loans are subject to audit by the Fed, and the discount rate is usually higher than the federal funds rate. Confusion between these two kinds of loans often leads to confusion between the federal funds rate and the discount rate. Another difference is that while the Fed cannot set an exact federal funds rate, it does set the specific discount rate.

The federal funds rate target is decided by the governors at Federal Open Market Committee (FOMC) meetings. The FOMC members will either increase, decrease, or leave the rate unchanged depending on the meeting’s agenda and the economic conditions of the U.S. It is possible to infer the market expectations of the FOMC decisions at future meetings from the Chicago Board of Trade (CBOT) Fed Funds futures contracts, and these probabilities are widely reported in the financial media.

Applications

Interbank borrowing is essentially a way for banks to quickly raise money. For example, a bank may want to finance a major industrial effort but may not have the time to wait for deposits or interest (on loan payments) to come in. In such cases the bank will quickly raise this amount from other banks at an interest rate equal to or higher than the Federal funds rate.

Raising the federal funds rate will dissuade banks from taking out such inter-bank loans, which in turn will make cash that much harder to procure. Conversely, dropping the interest rates will encourage banks to borrow money and therefore invest more freely.[6] This interest rate is used as a regulatory tool to control how freely the U.S. economy operates.

By setting a higher discount rate the Federal Bank discourages banks from requisitioning funds from the Federal Bank, yet positions itself as a lender of last resort.

Comparison with LIBOR

Though the London Interbank Offered Rate (LIBOR) and the federal funds rate are concerned with the same action, i.e. interbank loans, they are distinct from one another, as follows:

  • The target federal funds rate is a target interest rate that is set by the FOMC for implementing U.S. monetary policies.
  • The (effective) federal funds rate is achieved through open market operations at the Domestic Trading Desk at the Federal Reserve Bank of New York which deals primarily in domestic securities (U.S. Treasury and federal agencies’ securities).[7]
  • LIBOR is based on a questionnaire where a selection of banks guess the rates at which they could borrow money from other banks.
  • LIBOR may or may not be used to derive business terms. It is not fixed beforehand and is not meant to have macroeconomic ramifications.[8]

Predictions by the market

Considering the wide impact a change in the federal funds rate can have on the value of the dollar and the amount of lending going to new economic activity, the Federal Reserve is closely watched by the market. The prices of Option contracts on fed funds futures (traded on the Chicago Board of Trade) can be used to infer the market’s expectations of future Fed policy changes. Based on CME Group 30-Day Fed Fund futures prices, which have long been used to express the market’s views on the likelihood of changes in U.S. monetary policy, the CME Group FedWatch tool allows market participants to view the probability of an upcoming Fed Rate hike. One set of such implied probabilities is published by the Cleveland Fed.

Historical rates

As of 19 December 2018 the target range for the Federal Funds Rate is 2.25–2.50%.[9] This represents the ninth increase in the target rate since tightening began in December 2015.[10]

The last full cycle of rate increases occurred between June 2004 and June 2006 as rates steadily rose from 1.00% to 5.25%. The target rate remained at 5.25% for over a year, until the Federal Reserve began lowering rates in September 2007. The last cycle of easing monetary policy through the rate was conducted from September 2007 to December 2008 as the target rate fell from 5.25% to a range of 0.00–0.25%. Between December 2008 and December 2015 the target rate remained at 0.00–0.25%, the lowest rate in the Federal Reserve’s history, as a reaction to the Financial crisis of 2007–2008 and its aftermath. According to Jack A. Ablin, chief investment officer at Harris Private Bank, one reason for this unprecedented move of having a range, rather than a specific rate, was because a rate of 0% could have had problematic implications for money market funds, whose fees could then outpace yields.[11]

Federal funds rate history and recessions.png

Explanation of federal funds rate decisions

When the Federal Open Market Committee wishes to reduce interest rates they will increase the supply of money by buying government securities. When additional supply is added and everything else remains constant, the price of borrowed funds – the federal funds rate – falls. Conversely, when the Committee wishes to increase the federal funds rate, they will instruct the Desk Manager to sell government securities, thereby taking the money they earn on the proceeds of those sales out of circulation and reducing the money supply. When supply is taken away and everything else remains constant, the interest rate will normally rise.[12]

The Federal Reserve has responded to a potential slow-down by lowering the target federal funds rate during recessions and other periods of lower growth. In fact, the Committee’s lowering has recently predated recessions,[13] in order to stimulate the economy and cushion the fall. Reducing the federal funds rate makes money cheaper, allowing an influx of credit into the economy through all types of loans.

The charts linked below show the relation between S&P 500 and interest rates.

  • July 13, 1990 — Sept 4, 1992: 8.00%–3.00% (Includes 1990–1991 recession)[14][15]
  • Feb 1, 1995 — Nov 17, 1998: 6.00–4.75 [16][17][18]
  • May 16, 2000 — June 25, 2003: 6.50–1.00 (Includes 2001 recession)[19][20][21]
  • June 29, 2006 — (Oct. 29 2008): 5.25–1.00[22]
  • Dec 16, 2008 — 0.0–0.25[23]
  • Dec 16, 2015 — 0.25–0.50[24]
  • Dec 14, 2016 — 0.50–0.75[25]
  • Mar 15, 2017 — 0.75–1.00[26]
  • Jun 14, 2017 — 1.00–1.25[27]
  • Dec 13, 2017 — 1.25–1.50[28]
  • Mar 21, 2018 — 1.50–1.75[29]
  • Jun 13, 2018 — 1.75–2.00[30]
  • Sep 26, 2018 — 2.00–2.25[9]
  • Dec 19, 2018 — 2.25–2.50[31]

Bill Gross of PIMCO suggested that in the prior 15 years ending in 2007, in each instance where the fed funds rate was higher than the nominal GDP growth rate, assets such as stocks and housing fell.[32]

International effects

A low federal funds rate makes investments in developing countries such as China or Mexico more attractive. A high federal funds rate makes investments outside the United States less attractive. The long period of a very low federal funds rate from 2009 forward resulted in an increase in investment in developing countries. As the United States began to return to a higher rate in 2013 investments in the United States became more attractive and the rate of investment in developing countries began to fall. The rate also affects the value of currency, a higher rate increasing the value of the U.S. dollar and decreasing the value of currencies such as the Mexican peso.[33]

See also

References

  1. ^ “Fedpoints: Federal Funds”Federal Reserve Bank of New York. August 2007. Retrieved October 2, 2011.
  2. ^ “The Implementation of Monetary Policy”. The Federal Reserve System: Purposes & Functions(PDF). Washington, D.C.: Federal Reserve Board. August 24, 2011. p. 4. Retrieved October 2, 2011.
  3. ^ “Monetary Policy, Open Market Operations”. Federal Reserve Bank. January 30, 2008. Archived from the original on April 13, 2001. Retrieved January 30, 2008.
  4. ^ “Reserve Requirements”. Board of Governors of The Federal Reserve System. December 16, 2015.
  5. ^ Stefan Homburg (2017) A Study in Monetary Macroeconomics, Oxford University Press, ISBN978-0-19-880753-7.
  6. ^ “Fed funds rate”. Bankrate, Inc. March 2016.
  7. ^ Cheryl L. Edwards (November 1997). Gerard Sinzdak. “Open Market Operations in the 1990s”(PDF)Federal Reserve Bulletin (PDF).
  8. ^ “BBA LIBOR – Frequently asked questions”. British Bankers’ Association. March 21, 2006. Archived from the original on February 16, 2007.
  9. Jump up to:ab “Federal Reserve issues FOMC statement” (Press release). Board of Governors of the Federal Reserve System. December 19, 2018. Retrieved June 2, 2019.
  10. ^ Tankersley, Jim (March 21, 2018). “Fed Raises Interest Rates for Sixth Time Since Financial Crisis”The New York Times. Retrieved March 22, 2018.
  11. ^ “4:56 p.m. US-Closing Stocks”. Associated Press. December 16, 2008. Archived from the original on July 18, 2012.
  12. ^ David Waring (February 19, 2008). “An Explanation of How The Fed Moves Interest Rates”. InformedTrades.com. Archived from the original on May 5, 2015. Retrieved July 20, 2009.
  13. ^ “Historical Changes of the Target Federal Funds and Discount Rates, 1971 to present”. New York Federal Reserve Branch. February 19, 2010. Archived from the original on December 21, 2008.
  14. ^ “$SPX 1990-06-12 1992-10-04 (rate drop chart)”. StockCharts.com.
  15. ^ “$SPX 1992-08-04 1995-03-01 (rate rise chart)”. StockCharts.com.
  16. ^ “$SPX 1995-01-01 1997-01-01 (rate drop chart)”. StockCharts.com.
  17. ^ “$SPX 1996-12-01 1998-10-17 (rate drop chart)”. StockCharts.com.
  18. ^ “$SPX 1998-09-17 2000-06-16 (rate rise chart)”. StockCharts.com.
  19. ^ “$SPX 2000-04-16 2002-01-01 (rate drop chart)”. StockCharts.com.
  20. ^ “$SPX 2002-01-01 2003-07-25 (rate drop chart)”. StockCharts.com.
  21. ^ “$SPX 2003-06-25 2006-06-29 (rate rise chart)”. StockCharts.com.
  22. ^ “$SPX 2006-06-29 2008-06-01 (rate drop chart)”. StockCharts.com.
  23. ^ “Press Release”. Board of Governors of The Federal Reserve System. December 16, 2008.
  24. ^ “Open Market Operations”. Board of Governors of The Federal Reserve System. December 16, 2015.
  25. ^ “Decisions Regarding Monetary Policy Implementation”. Board of Governors of The Federal Reserve System. Archived from the original on December 15, 2016.
  26. ^ Cox, Jeff (March 15, 2017). “Fed raises rates at March meeting”CNBC. Retrieved March 15, 2017.
  27. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. June 14, 2017.
  28. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. December 13, 2017.
  29. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. March 21, 2018.
  30. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. June 13, 2018.
  31. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. December 19, 2018.
  32. ^ Shaw, Richard (January 7, 2007). “The Bond Yield Curve as an Economic Crystal Ball”. Retrieved April 3, 2011.
  33. ^ Peter S. Goodman, Keith Bradsher and Neil Gough (March 16, 2017). “The Fed Acts. Workers in Mexico and Merchants in Malaysia Suffer”The New York Times. Retrieved March 18,2017Rising interest rates in the United States are driving money out of many developing countries, straining governments and pinching consumers around the globe.

External links

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

The Impact of an Inverted Yield Curve

The term yield curve refers to the relationship between the short- and long-term interest rates of fixed-income securities issued by the U.S. Treasury. An inverted yield curve occurs when short-term interest rates exceed long-term rates.

From an economic perspective, an inverted yield curve is a noteworthy event. Below, we explain this rare phenomenon, discuss its impact on consumers and investors, and tell you how to adjust your portfolio to account for it.

Interest Rates and Yield Curves

Typically, short-term interest rates are lower than long-term rates, so the yield curve slopes upwards, reflecting higher yields for longer-term investments. This is referred to as a normal yield curve. When the spread between short-term and long-term interest rates narrows, the yield curve begins to flatten. A flat yield curve is often seen during the transition from a normal yield curve to an inverted one.

Normal Yield Curve

Figure 1 – A normal yield curve

What Does an Inverted Yield Curve Suggest?

Historically, an inverted yield curve has been viewed as an indicator of a pending economic recession. When short-term interest rates exceed long-term rates, market sentiment suggests that the long-term outlook is poor and that the yields offered by long-term fixed income will continue to fall.

More recently, this viewpoint has been called into question, as foreign purchases of securities issued by the U.S. Treasury have created a high and sustained level of demand for products backed by U.S. government debt. When investors are aggressively seeking debt instruments, the debtor can offer lower interest rates. When this occurs, many argue that it is the laws of supply and demand, rather than impending economic doom and gloom, that enable lenders to attract buyers without having to pay higher interest rates.

Inverted Yield Curve

Figure 2 – An inverted yield curve: note the inverse relationship between yield and maturity

Inverted yield curves have been relatively rare, due in large part to longer-than-average periods between recessions since the early 1990s. For example, the economic expansions that began in March 1991, November 2001 and June 2009 were three of the four longest economic expansions since World War II. During these long periods, the question often arises as to whether an inverted yield curve can happen again.

Economic cycles, regardless of their length, have historically transitioned from growth to recession and back again. Inverted yield curves are an essential element of these cycles, preceding every recession since 1956. Considering the consistency of this pattern, an inverted yield will likely form again if the current expansion fades to recession.

Upward sloping yield curves are a natural extension of the higher risks associated with long maturities. In a growing economy, investors also demand higher yields at the long end of the curve to compensate for the opportunity cost of investing in bonds versus other asset classes, and to maintain an acceptable spread over inflation rates.

As the economic cycle begins to slow, perhaps due to interest rate hikes by the Federal Reserve Bank, the upward slope of the yield curve tends to flatten as short-term rates increase and longer yields stay stable or decline slightly. In this environment, investors see long-term yields as an acceptable substitute for the potential of lower returns in equities and other asset classes, which tend to increase bond prices and reduce yields.

Inverted Yield Curve Impact