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Paul Merrell

WikiLeaks - Hillary Clinton Email Archive - 0 views

  • From: • H <hrod17@clintonemail.com > Sent: Saturday, September 3, 2011 10:28 PM To: Oscar Flores Subject: Fw: tick tock on libya PIs print for me.
  • To: H Subject: FW: tick tock on libya Here is Draft
  • Secretary Clinton's leadership on Libya HRC has been a critical voice on Libya in administration deliberations, at NATO, and in contact group meetings — as well as the public face of the U.S. effort in Libya. She was instrumental in securing the authorization, building the coalition, and tightening the noose around Qadhafi and his regime.
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  • March 14 — HRC travels to Paris for the G8 foreign minister's meeting. She meets with TNC representative Jibril and consults with her colleagues on further UN Security Council action. She notes that a no-fly zone will not be adequate. March 14-16 — HRC participates in a series of high-level video- and teleconferences with She is a leading voice for strong UNSC action and a NATO civilian protection mission. March 17 — HRC secures Russian abstention and Portuguese and African support for UNSC 1973, ensuring that it passes. 1973 authorizes a no-fly zone over Libya and "all necessary measures" - code for military action - to protect civilians against Gaddafi's army. March 24 — HRC engages with allies and secures the transition of command and control of the civilian protection mission to NATO. She announces the transition in a statement.
  • March 19 — HRC travels to Paris to meet with European and Arab leaders to prepare for military action to protect civilians. That night, the first U.S. air strikes halt the advance of Gaddafi's forces on Benghazi and target Libya's air defenses: March 29 — HRC travels to London for a conference on Libya, where she is a driving force behind the creation of a Contact Group comprising 20-plus countries to coordinate efforts to protect civilians and plan for a post- Qadhafi Libya. She is instrumental in setting up a rotating chair system to ensure regional buy-in. April 14 — HRC travels to Berlin for NATO meetings. She is the driving force behind NATO adopting a communiqué that calls for Qadhafi's departure as a political objective, and lays out three clear military objectives: end of attacks and threat of attacks on civilians; the removal of Qadhafi forces from cities they forcibly entered; and the unfettered provision of humanitarian access.
  • June 12 — HRC travels to Addis for consultations and a speech before the African Union, pressing the case for a democratic transition in Libya. July 15 — HRC travels to Istanbul and announces that the U.S. recognizes the TNC as the legitimate government of Libya. She also secures recognition from the other members of the Contact Group.
  • July 16 — HRC sends Feltman, Cretz, and Chollet to Tunis to meet with Qadhafi envoys "to deliver a clear and firm message that the only way to move forward, is for Qadhafi to step down".
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    Assange calls this the most important leaked Hillary email. It shows that Hillary was the driving force on the Libyan War, deliberately escalating past the civilian relief authorization of the UN Security Council resolution to accomplish regime change, thus turning the Libyan invasion into a war of aggression, the supreme war crime for which we hung Nazi and Japanese leaders.
Paul Merrell

FBI Informant "Threatened" After Offering Details Linking Clinton Foundation To Russian... - 0 views

  • While the mainstream media has largely ignored it, the scandal surrounding Russian efforts to acquire 20% of America's uranium reserves, a deal which was ultimately approved by the Obama administration, and more specifically the Committee on Foreign Investment in the United States (CFIUS) which included Hillary Clinton and Eric Holder, is becoming more problematic for Democrats by the hour.  As The Hill pointed out earlier this morning, the latest development in this sordid tale revolves around a man that the FBI used as an informant back in 2009 and beyond to build a case against a Russian perpetrator who ultimately admitted to bribery, extortion and money laundering.  The informant, who is so far only known as "Confidential Source 1," says that when he attempted to come forward last year with information that linked the Clinton Foundation directly to the scandal he was promptly silenced by the FBI and the Obama administration.
  • Working as a confidential witness, the businessman made kickback payments to the Russians with the approval of his FBI handlers and gathered other evidence, the records show.   Sources told The Hill the informant's work was crucial to the government's ability to crack a multimillion dollar racketeering scheme by Russian nuclear officials on U.S. soil that involved bribery, kickbacks, money laundering and extortion. In the end, the main Russian executive sent to the U.S. to expand Russian President Vladimir Putin's nuclear business, an executive of an American trucking firm and a Russian financier from New Jersey pled guilty to various crimes in a case that started in 2009 and ended in late 2015.   Toensing added her client has had contact from multiple congressional committees seeking information about what he witnessed inside the Russian nuclear industry and has been unable to provide that information because of the NDA.   “He can’t disclose anything that he came upon in the course of his work,” she said.   The information the client possesses includes specific allegations that Russian executives made to him about how they facilitated the Obama administration's 2010 approval of the Uranium One deal and sent millions of dollars in Russian nuclear funds to the U.S. to an entity assisting Bill Clinton's foundation. At the time, Hillary Clinton was serving as secretary of State on the government panel that approved the deal, the lawyer said.
  • In the midst of the new discoveries revealed yesterday about the Uranium One case (see: FBI Uncovered Russian Bribery Plot Before Obama Approved Uranium One Deal, Netting Clintons Millions), "Confidential Source 1" has once again hired an attorney, Victoria Toensing, a former Reagan Justice Department official and former chief counsel of the Senate Intelligence Committee, to get his story out. Sitting down with The Hill earlier, Toensing said that the last time her client tried to speak out "both his reputation and liberty" were "threatened" by the Obama administration in a effort to force his silence.  “All of the information about this corruption has not come out,” she said in an interview Tuesday. “And so my client, the same part of my client that made him go into the FBI in the first place, says, 'This is wrong. What should I do about it?'”   Toensing said she also possesses memos that recount how the Justice Department last year threatened her client when he attempted to file a lawsuit that could have drawn attention to the Russian corruption during the 2016 presidential race as well as helped him recover some of the money Russians stole from him through kickbacks during the FBI probe.   The undercover client witnessed “a lot of bribery going on around the U.S.” but was asked by the FBI to sign a nondisclosure agreement (NDA) that prevents him from revealing what he knows to Congress, Toensing explained.   When he tried to bring some of the allegations to light in the lawsuit last year, “the Obama Justice Department threatened him with loss of freedom. They said they would bring a criminal case against him for violating an NDA,” she added.
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  • As we pointed out last summer when Peter Schweizer first released his feature documentary Clinton Cash, the Uranium One deal at the center of this scandal is believed to have netted the Clintons and their Clinton Foundation millions of dollars in donations and 'speaking fees' from Uranium One shareholders and other Russian entities. Russian Purchase of US Uranium Assets in Return for $145mm in Contributions to the Clinton Foundation - Bill and Hillary Clinton assisted a Canadian financier, Frank Giustra, and his company, Uranium One, in the acquisition of uranium mining concessions in Kazakhstan and the United States.  Subsequently, the Russian government sought to purchase Uranium One but required approval from the Obama administration given the strategic importance of the uranium assets.  In the run-up to the approval of the deal by the State Department, nine shareholders of Uranium One just happened to make $145mm in donations to the Clinton Foundation.  Moreover, the New Yorker confirmed that Bill Clinton received $500,000 in speaking fees from a Russian investment bank, with ties to the Kremlin, around the same time.  Needless to say, the State Department approved the deal giving Russia ownership of 20% of U.S. uranium assets 
Paul Merrell

US State Dept. admits Nusra Front terrorists use chemical weapons in Syria - MoD - 0 views

  • According to Russia’s Defense Ministry, the US State Department has finally admitted that the infamous Al Nusra Front, which controls Syria’s Idlib Governorate through the umbrella terrorist group HTS and is still thought to be a front for al-Qaeda, “not only has, but uses chemical weapons against civilians.” “The Hayat Tahrir al-Sham terrorist group (HTS), linked to Jabhat al-Nusra, which uses ‘small and heavy arms, improvised explosive devices, and chemical weapons’, operates in that province [Idlib]. This is the first official recognition by the [US] State Department not simply of the presence, but, I emphasize, the use of chemical weapons by Jabhat al-Nusra terrorists in that part of Syria to commit terrorist attacks, about which we repeatedly warned,” Russian Defense Ministry spokesman Maj. Gen. Konashenkov said. Igor Konashenkov also recalled that in Idlib province, “only one case of the use of chemical weapons is known — in Khan-Sheikhun.”
  • “However, the US accused government troops of [conducting] this chemical attack. And those who [actually] organized it, they called a “moderate opposition,” Konashenkov said.
Paul Merrell

Mattis sees larger US civilian presence in Syria - Middle East Monitor - 0 views

  • US Defense Secretary Jim Mattis said on Friday that he expected to see a larger US civilian presence in Syria, including contractors and diplomats, as the fight against Islamic State militants nears its end and the focus turns toward rebuilding and ensuring the militants do not return. The United States has about 2,000 troops in Syria fighting Islamic State. Mattis’ comments are likely to anger Syrian President Bashar al-Assad, who has previously called US troops “illegal invader” forces. “What we will be doing is shifting from what I would call an offensive, shifting from an offensive terrain-seizing approach to a stabilizing… you’ll see more US diplomats on the ground,” Mattis said. He has previously stated that US forces will stay in Syria as long as Islamic State fighters want to fight and prevent the return of an “ISIS 2.0.” This is the first time he has said that there would be an increase of diplomats in the parts of the country retaken from Islamic State militants. “Well when you bring in more diplomats, they are working that initial restoration of services, they bring in the contractors, that sort of thing,” Mattis said. “There is international money that has got to be administered, so it actually does something, it doesn’t go into the wrong people’s pockets,” he added. The contractors and diplomats would also be looking at training local forces to clear improvised explosive devices (IEDs) and holding territory to help ensure that Islamic State does not retake territory. “It is an attempt to move towards the normalcy and that takes a lot of support,” said Mattis. It was not clear how many US diplomats would serve in Syria and when. The United States has suspended diplomatic relations with Syria due to the civil war.
Paul Merrell

Newly Declassified CIA Report Exposes Over 25 Years Of U.S. Plans To Destabilize Syria - 0 views

  • While the nearly seven-year-long sectarian “civil war” in Syria is widely believed to have started in 2011, revelations in recent years have shown that the sectarian war that has sunk Syria into chaos actually precedes the “official” start of the conflict. In 2010, Wikileaks published hundreds of thousands of classified State Department cables, including a 2006 cable showing that destabilizing the Syrian government was a primary goal of U.S. policy in the Middle East. The ultimate intention was to topple Iran, one of Syria’s closest allies. The cable revealed that the U.S.’ goal at the time was to undermine the Syrian government by any means available.
  • In addition, retired United States Army General Wesley Clark’s bombshell interview with Democracy Now exposed the existence of plans for regime change in Syria that date as far back as 2001. Now, a newly declassified document from the Central Intelligence Agency has shown that these regime change efforts date back even further to the late 1980s – and potentially even earlier
  • The declassified document was written in July, 1986 by the Foreign Subversion and Instability Center, a part of the CIA’s Mission Center for Global Issues, and is titled “Syria: Scenarios of Dramatic Political Change.” As the document itself states, its purpose is to analyze – in a “purposely provocative” manner – “a number of possible scenarios that could lead to the ouster of President Assad [Bashar al-Assad’s father, Hafez] or other dramatic change in Syria.” The report’s meager distribution list suggest it was considered by top officials in the Reagan administration, specifically because it was distributed to national security chiefs, not entire agencies. It was also distributed to a handful of key players in U.S.-Syria relations, such as former Ambassador to Syria William Eagleton.
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  • Though the document itself officially predates the current Syrian conflict by nearly 25 years, much of its analysis brings to mind recent events in Syria, particularly those that led to the outbreak of war in 2011. Chief among these is the rise of factionalism between Sunni Muslim elements against the ruling Alawi minority (a Shi’ite sect), as well as the potential to counter Russian influence in Syria and elsewhere in the Middle East. These similarities suggest that U.S. regime change efforts in Syria date back to well over 30 years ago – proof of the persistent imperialist elements that consistently guide U.S. foreign policy.
Paul Merrell

The Still-Missing Evidence of Russia-gate - Consortiumnews - 0 views

  • A changing-places moment brought about by Russia-gate is that liberals who are usually more skeptical of U.S. intelligence agencies, especially their evidence-free claims, now question the patriotism of Americans who insist that the intelligence community supply proof to support the dangerous claims about Russian ‘hacking” of Democratic emails especially when some  veteran U.S. government experts say the data would be easily available if the Russians indeed were guilty. One of those experts is William Binney, a former high-level National Security Agency intelligence official who, after his 2001 retirement, blew the whistle on the extraordinary breadth of NSA surveillance programs. His outspoken criticism of the NSA during the George W. Bush administration made him the subject of FBI investigations that included a raid on his home in 2007. Even before Edward Snowden’s NSA whistleblowing, Binney publicly revealed that NSA had access to telecommunications companies’ domestic and international billing records, and that since 9/11 the agency has intercepted some 15 trillion to 20 trillion communications. Snowden has said: “I have tremendous respect for Binney, who did everything he could according to the rules.”
  • I spoke to Binney on Dec. 28 about Russia-gate and a host of topics having to do with spying and America’s expanding national security state.
  • Bernstein: Your expertise was in the Soviet Union and so you must know a lot about bugging.  Do you believe that Russia hacked and undermined our last election?  Can Trump thank Russia for the result? Binney:  We at Veteran Intelligence Professionals for Sanity (VIPS) published an article on this in July.  First of all, if any of the data went anywhere across the fiber optic world, the NSA would know.  Just inside the United States, the NSA has over a hundred tap points on the fiber lines, taking in everything.    Mark Klein exposed some of this at the AT&T facility in San Francisco. This is not for foreigners, by the way, this is for targeting US citizens.  If they wanted only foreigners, all they would have to do was look at the transatlantic cables where they surface on the coast of the United States.  But they are not there, they are distributed among the US population. Bernstein: So if, in fact, the Russians were tapping into DNC headquarters, the NSA would absolutely know about it. Binney: Yes, and they would also have trace routes on where they went specifically, in Russia or anywhere else.  If you remember, about three or four years ago, the Chinese hacked into somewhere in the United States and our government came out and confirmed that it was the Chinese who did it, and it came from a specific military facility in Shanghai.  The NSA had these trace route programs embedded by the hundreds across the US and all around the world.
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  • The other data that came out from Guccifer 2.0, a download from the DNC, has been a charade.  It was a download and not a transfer across the Web.  The Web won’t manage such a high speed.  It could not have gotten across the Atlantic at that high speed.  You would have to have high capacity lines dedicated to that in order to do it. They have been playing games with us.  There is no factual evidence to back up any charge of hacking here. Bernstein: So was this a leak by somebody at Democratic headquarters? Binney: We don’t know that for sure, either.  All we know was that it was a local download.  We can likely attribute it to a USB device that was physically passed along.
  • Right now, our government is violating the first, fourth and fifth amendments in various ways.  Mueller did it, Comey did it, they were all involved in violating the Constitution.
  • Bernstein:  There seems to be a new McCarthyite operation around the Russia-gate investigation.  It appears that it is an attempt to justify the idea that Clinton lost because the Russians undermined the election. Binney: I have seen no evidence at all from anybody, including the intelligence community.  If you look at the Intelligence Community Assessment (ICA) report, they state on the first page that “We have high confidence that the Russians did this.”  But when you get toward the end of the report, they basically confess that “our judgment does not imply that we have evidence to back it up.” Bernstein:  It was initially put out that seventeen intelligence agencies found compelling evidence that the Russians hacked into our election.  You’re saying it was actually selected individuals from just three agencies.  Is there anything to the revelations that FBI agents talked about taking action to prevent Trump from becoming president? Binney: It certainly does seem that it is leaning that way, that is was all a frame-up.  It is a sad time in our history, to see the government working against itself internally. Bernstein:  I take it you are not a big supporter of Trump. Binney:  Well, I voted for him.  I couldn’t vote for a warmonger like Clinton.  She wanted to see our planes shooting down Russian planes in Syria.  She advocated for destabilizing Libya, for getting rid of Assad in Syria, she was a strong backer of the war in Iraq.
Paul Merrell

Trump retaliates against Abbas - Middle East Monitor - 0 views

  • Debkafile, an Israeli website close to the military intelligence, has reported that the Trump administration has decided to take a series of punitive measures against the Palestinian Authority (PA) after its successful campaign on Jerusalem in the UN General Assembly. In a report issued on 23 December, the Israeli website cited its sources in Washington as stating that President Trump had decided to sever contacts and relations with the PA and President Mahmoud Abbas. According to Debkafile, the Israeli-Palestinian peace plan under preparation in Washington will not be submitted to Ramallah but only to Israel and the relevant Arab governments. These steps were taken after the PA had been warned more than once, and told to drop its campaign against the Trump pronouncement on Jerusalem because of its negative impact on the region, according to the Israeli website. It added that the White House move was communicated to the PA through a third Arab party. The Israeli website further reported that the US will not publicly announce its freeze of aid to the PA. However, the administration will stop support and delay the resumption of economic projects backed by US institutions and re-examine them. President Trump also decided not to invite Palestinian officials to the White House, State Department and US Treasury, and not to receive Palestinians at the US National Security Council where they used to participate in meetings aimed at shaping US strategy in the Middle East. According to the Israeli website: “The US will halt its contributions to the UN Relief and Works Agency for Palestine (UNRWA), an estimated one billion dollars per annum” and will order Saudi Arabia, the UAE and Qatar to reduce the amount of aid provided to the Authority. While no official statements were made by the US administration or the PA, the Israeli website confirmed that US officials have informed Saeb Erekat, the PA’s chief negotiator, that there is nothing to discuss with him anymore.
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    More likely that this is actually in response to the PA's announcement that it will no longer participate in negotiations with Israel if the U.S. participates. Defunding the PA could actually advance Palestinian interests mightily since the PA has served the role as lapdog for Israel and the U.S., bringing Hamas into the role of Palestinian political leadership
Paul Merrell

Dollar slips to 3-month lows, heads for worst year since 2003 | Business Line - 0 views

  •   The dollar slipped to its lowest in more than three months against a basket of major currencies on Friday as the euro and sterling climbed, putting the greenback on track for an almost 10 per cent fall over the year - its worst showing since 2003. The dollar started 2017 on a high, with the index that tracks it against a basket of six major currencies hitting its strongest in 14 years on hopes that new US president Donald Trump would implement pro-growth, pro-inflation measures. But it has fallen back on doubts about Trump's ability to push through those policies. And it has also lost out as growth has picked up outside the United States, with other countries' central banks moving towards tighter monetary policy, lessening the gap between the Federal Reserve and others. “We are seeing synchronised global growth, in particular a very strong growth recovery in the euro area, which is leading the ECB (European Central Bank) to gradually normalise policy, which is helping the euro,” said Societe Generale currency strategist Alvin Tan. Tan added that the dollar had become overvalued against the euro, yen and sterling at the start of the year and so another part of the reason for its weakness in 2017 was a mean reversion in valuation.
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    Watch prices of imported goods rise in the coming year?
Paul Merrell

Turkey Joins Russia's Ruble-Based Alternative To SWIFT | Zero Hedge - 1 views

  • After repeated warnings over the past couple of years, Turkey and Russia have signed a pact to increase use of the ruble and lira in cross-border payments, with Turkey signing on to Russia's alternative to SWIFT, the international telecommunications protocol used by banks and central banks the world over. Though SWIFT is an international cooperative owned by its members, with more than 10,000 banks worldwide relying on its system for handling sizable inter-bank transactions, the safety of the network was brought into question after a series of cyberattacks in 2015 and 2016 resulted in the theft of $101 million from the Central Bank of Bangladesh. For the first time since SWIFT's laucnh, the hacks stoked doubts about the system's safety, and prompted many US rivals, including Russia, to ramp up work on their alternatives to SWIFT.
  • In addition to Turkey, China and Russia have signed agreements to bolster trade between the two countries, including settling a larger percentage of their bilateral trade in rubles and renminbi. For China, bilateral trade with Russia grew from $69.6 billion in 2016 to $107.1 billion last year. China is Russia's biggest partner for imports and exports. There has also been talk about India joining Russia's SWIFT alternative as Washington continues to threaten New Delhi with sanctions over its decision to purchase Russian-made missile-defense systems. According to Reuters, Russian Finance Minister Anton Siluanov signed the agreement with Ankara on Tuesday. The agreement, signed on Oct. 4, will encourage the two countries to start using Russia's system in mutual settlements.
shiraj786

Getting Started with Chrome extension - Diigo help - 0 views

  • Use the “Save” option to bookmark a page. Bookmarking saves a link to the page in your online Diigo library, allowing you to easily access it later.
  • Highlighting can also be accomplished from the context pop-up. After the Chrome extension is installed, whenever you select text on a webpage, the context pop-up will appear, allowing you to accomplish text-related annotation. Highlight Pop-up Menu – After you highlight some text, position your mouse cursor over it and the highlight pop-up menu will appear. The highlight pop-up menu allows you to add notes to, share, or delete the highlight.
  • Sticky Note Click the middle icon on the annotation toolbar to add a sticky note to the page. With a sticky note, you can write your thoughts anywhere on a web page.
shiraj786

Getting Started with Diigolet - Diigo help - 0 views

  • Tags help you find and organize your bookmarks by letting you select all of your bookmarks with a certain tag or combination of tags. Quickly add relevant tags to a bookmark by clicking on any of the recommended tags that appear under the description field on the “Save Bookmark” pop-up. When you are satisfied with the information in the “Save Bookmark” pop-up, click the “Save Bookmark” button. Now a link to the page is stored in your Diigo library, and the information you entered is stored with it.
  • Highlight Highlighting lets you denote important information on a page, just like highlighting in a book, but with Diigo, the highlighted text will be conveniently saved to your library as well. There are some important things for me to denote on my recipe. My wife doesn’t like pineapple, my grandfather can’t have eggs or chocolate, and I don’t like coconut very much, so I highlight those items on the recipe to let me know I need to deal with them. Highlight by clicking “Highlight” on the Diigolet. Then select the text you want to highlight. The text will be visually highlighted and the text is now stored in your library. It’s that easy. Click the button again to exit highlighter mode. You can also change the color of a highlight by clicking the downward-pointing arrow next to “Highlight” and choosing a color. Colors are useful for differentiating different types of highlights. I will use a different color for each of the different people I need to consider.
  • To add a sticky note to a highlight, simply move your mouse cursor over a highlight. When the little pop-up tab with the pencil on it appears, move the cursor to it and a menu will appear. Choose “Add Sticky Notes”. Now you can type and post a sticky note just like before, but this time it will be tied to the highlighted text.
Paul Merrell

Malaysia Drops Criminal Charges Against Goldman After $3.9BN 1MDB Penalty | Zero Hedge - 0 views

  • After agreeing to pay a whopping $3.9 billion in fines and restitution, Goldman Sachs has finally been freed from one of its biggest albatrosses for its international business: Malaysian prosecutors have dropped all criminal charges in the 1MDB episode.
  • Reuters reports that, on Friday morning local time, Malaysian prosecutors announced that they would be withdrawing criminal charges against three Goldman Sachs units accused of misleading investors over a series of bond sales worth a combined $6.5 billion which helped fund the ill-fated sovereign wealth fund 1MDB (it stands for 1Malaysia Development Berhad). The Goldman subsidiaries based in London, Hong Kong and Singapore had pleaded not guilty to criminal charges back in February and the bank has consistently denied wrongdoing, though gallons of ink have been spilled about the alleged skulduggery that reportedly involved officials as senior as CEO Lloyd Blankfein. Now, the bank needs to settle things with the DoJ, which is also pursuing a criminal investigation. The DoJ estimates that $4.5 billion was siphoned from the fund by a group of insiders led by the fugitive financier Jho Low, the alleged mastermind, and former PM Najib Razak, who received hundreds of millions of dollars in proceeds from the fraud. Late last year, the bank was reportedly on the verge of a settlement with US authorities for roughly $2 billion, but those talks have reportedly fallen apart.
erickjhonkdkk4

Buy Yelp Reviews - Real, Legit, Genuine and Elite | Sticky - 0 views

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    Buy yelp reviews from us and get all reviews from real elite user profiles. All elite profiles are real and active. Also, all elite users are real
Paul Merrell

Russia Finance Minister: We May Abandon Dollar In Oil Trade As It Is Becoming "Too Risk... - 1 views

  • One month ago, the bond market and political pundits did a double take when according to the latest Treasury International Capital report, Russia had liquidated virtually all of its US Treasury holdings, selling off the bulk of its US government bonds in just two months, March and April.
  • And with the US threatening to impose a new set of "crushing" sanctions on Russia, including in retaliation for the alleged Novichok nerve gas attack in the UK, Russia not only intends to continue liquidating its US holdings, but to significantly reduce its reliance on the US Dollar. Speaking in an interview for the Rossiya 1 TV channel, Finance Minister Anton Siluanov said that Russia "aims to keep reducing its investments in American securities" following new U.S. sanctions and said that the "US dollar is becoming an unreliable tool for payments in international trade." The minister also hinted at the possibility of using national currencies instead of the dollar in oil trade. "I do not rule it out. We have significantly reduced our investment in US assets. In fact, the dollar, which is considered to be the international currency, becomes a risky tool for payments," Siluanov noted.
Paul Merrell

JPMorgan to pay record $920 million to resolve trading probes - 1 views

  • JPMorgan Chase is set to pay a record $920 million to resolve probes from three federal agencies over its role in the manipulation of global markets for metals and Treasurys.The figure was released Tuesday morning by the Commodity Futures Trading Commission in a statement from Commissioner Dan Berkovitz. Last week, news reports indicated that the New York-based bank was nearing a settlement of almost $1 billion.The penalty is a record for spoofing, which is when sophisticated traders flood markets with orders that they have no intention of actually executing. The practice was banned after the 2008 financial crisis and regulators have made it a priority to stamp out.Of the $920 million, $436.4 million is a criminal monetary penalty, $172 million is a “criminal disgorgement amount” and $311.7 million is for victim compensation, according to the Department of Justice.
  • JPMorgan Chase is set to pay a record $920 million to resolve probes from three federal agencies over its role in the manipulation of global markets for metals and Treasurys.The figure was released Tuesday morning by the Commodity Futures Trading Commission in a statement from Commissioner Dan Berkovitz. Last week, news reports indicated that the New York-based bank was nearing a settlement of almost $1 billion.The penalty is a record for spoofing, which is when sophisticated traders flood markets with orders that they have no intention of actually executing. The practice was banned after the 2008 financial crisis and regulators have made it a priority to stamp out.Of the $920 million, $436.4 million is a criminal monetary penalty, $172 million is a “criminal disgorgement amount” and $311.7 million is for victim compensation, according to the Department of Justice.
  • The bank, the biggest U.S. lender by assets, has entered into a deferred prosecution agreement with the DOJ that will expire in three years if the firm satisfies its obligations under the deal. 
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  • In his statement, the CFTC’s Berkovitz said he opposed the ruling from his agency that JPMorgan’s actions “should not result in any disqualifications under the ‘bad actor’ provisions of the securities laws.” He is apparently referring to the fact that the settlement isn’t expected to result in business restrictions on other areas of the firm.
  • The bank also has quietly settled a long-running lawsuit that accused the bank of manipulating precious metals markets with “spoofing” trades. The lawsuit was filed in 2015 by Daniel Shak, the hedge fund operator and high-stakes poker player, and two metals traders, Mark Grumet and Thomas Wacker.The three plaintiffs had accused JPMorgan of manipulating the silver futures market from 2010 through 2011 through spoofing trades. Details of the settlement were not disclosed in court filings.
  • In September 2019, federal prosecutors charged Nowak and two other former JPMorgan precious metals traders, Gregg Smith and Christopher Jordan, with participating in a racketeering conspiracy in connection with a multiyear scheme to manipulate the markets and defraud customers, as well as other crimes related to alleged spoofing.A superseding indictment was filed in the criminal case two months later, adding another defendant, ex-JPMorgan executive Jeffrey Ruffo, who had worked in hedge fund sales on the firm’s precious metals desk.All four defendants have pleaded not guilty. Trial in that case is scheduled to begin next April in Chicago federal court.
  • The CFTC noted in their press release that the agency continues to pursue civil litigation against Nowak and  Smith, for spoofing and attempted price manipulation.Although Shak’s lawsuit has been settled, JPMorgan still faces a class action lawsuit related to alleged spoofing in the precious metals markets.
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