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Category: Patriot News

House Overwhelmingly Passes Veto-Proof Russia Sanctions Deal

Setting up a showdown not between the US and Russia as some hope, but between Washington and the EU which has emerged as the most vocal opponent of ongoing, unilateral anti-Russian escalation by the US vowing swift retaliation, moments ago the U.S. House passed bipartisan legislation codifying and imposing further sanctions on Russia, Iran and North Korea, and preventing the president from acting unilaterally to remove certain sanctions on Russia. Just three Republicans – Reps. Justin Amash (Mich.), Jimmy Duncan (Tenn.) and Thomas Massie (Ky.) – voted against the bill, which passed 419-3. More importantly, the measure also bars U.S. companies from investing in energy projects in which Russian companies have at least a 33% stake, and may penalize European companies that colaborate with Russian companies on energy projects, the source of Europe’s recent fury. Here are the main details of the draft legislation: Codifies existing US sanctions on Russia and requires Congressional review before they are lifted. Reduces from 30 days to 14 days the maximum allowed maturity for new debt and new extensions of credit to the state controlled financial institutions targeted under the sectoral sanctions. Reduces from 90 days to 60 days the maximum allowed maturity for new debt and new extensions of credit to sectoral sanctions targets in the energy sector, although this largely only brings US sanctions in line with existing EU sanctions, which...

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Wasserman-Schultz IT Aide Arrested While Attempting To Flee Country, Charged With Bank Fraud

Just a day after reports emerged that the FBI had seized a number of “smashed hard drives” and other computer equipment from the residence Imran Awan, the former IT aide of Debbie Wasserman-Schultz, we learn that Awan has been captured at the Dulles airport while attempted to flee the country.  According to Fox News, Awan has been charged with bank fraud. BREAKING: House staffer Imran Awan arrested at Dulles and charged with bank fraud, per @FOXNews.. Awan worked for @DWSTweets. #fox5dc — Jim Lokay FOX5 (@LokayFOX5) July 25, 2017 BREAKING: Wasserman-Schultz IT Staffer Imran Awan Arrested at Airport While Trying To Flee The Country – @ChadPergram — Breaking911 (@Breaking911) July 25, 2017 For those who have managed to avoid this story, which wouldn’t be difficult given that the mainstream media has made every attempt to ignore it, the Pakistani-born brothers Abid, Imran, and Jamal Awan are at the center of a criminal investigation by U.S. Capital Hill Police and the FBI.  Up until now, allegations of wrong doing have varied from simply overcharging taxpayers for congressional IT equipment to blackmailing members of Congress with secrets captured from the emails of their Democrat employers. The Awan brothers worked for more than 30 house and senate democrats, as well as Rep. Debbie Wasserman-Schultz. The substantial scandal has raised questions about who may have been passed data which the Awans had access...

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The Death Cross Of Central Bank Credibility

With no expectations of a rate-hike this week, and traders rapidly giving up on The Fed’s dream of a steadily higher rate trajectory, a funny thing happened in the markets… In the eyes of The Fed, their monetary policy has not been this ‘tight’ since October 2008. However, in the eyes of the market, financial conditions just hit their easiest level in history (easier than the September 2005 previous record easiness level). This is what happens when you constantly flip-flop, constantly miss forecasts, and constantly lie. Simply put, this is the death cross of Federal Reserve Credibility. Picking up on the dramatic divergence, Bloomberg’s Cameron ‘MacroMan’ Crise has some advice for The Fed “Throw Us A Little Vol Here Please!” Wednesday sees the latest installment of the Fed laying the groundwork for a shift in its balance sheet policy, probably in September. Although the Fed continues to miss its arbitrarily defined inflation target, the Bloomberg financial conditions index is now at easiest level in a decade. That era ended rather badly, and the Fed would do well to inject a little volatility into proceedings before the market does it for them. The Fed’s halting journey toward balance sheet normalization makes Odysseus’s trip home seem like a speedy jaunt on the hyperloop in comparison. A desire to avoid shaking up the Treasury market appears to be driving this deliberate approach....

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SEC Cracks Down On “Initial Coin Offerings”: Concludes Tokens Are Subject To Securities Laws

In groundbreaking news for the blockchain community, moments ago the SEC issued a press release, referencing an investor bulletin on Initial Coin Offerings, which concluded that DAO Tokens, a Digital Asset, are securities for regulatory purposes, and cautioned that US Securities law “may” apply to offers, sales and trading of interested in virtual organization, targeting the increasingly more popular Initial Coin Offerings. Capital raising through blockchain requires compliance with federal securities laws — SEC Enforcement (@SEC_Enforcement) July 25, 2017 As a result of this change of treatment, those who use ICOs to sell tokens, which as a reminder have now surpassed over $1 billion in net proceeds, will have to register the tokens as securities, those participating in unregistered offerings may be liable for violations of the securities laws, and that the purpose of the registration “is to ensure that investors are sold investments that include all the proper disclosures and are subject to regulatory scrutiny for investors’ protection.” In a press release issued on Tuesday afternoon, the SEC said it had issued an investigative report “cautioning market participants that offers and sales of digital assets by “virtual” organizations are subject to the requirements of the federal securities laws.” Such offers and sales, conducted by organizations using distributed ledger or blockchain technology, have been referred to, among other things, as “Initial Coin Offerings” or “Token Sales.” In its...

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It’s Not A Joke Anymore: Kid Rock Is Leading Poll For Michigan Senate Race

Authored by Daniel Lang via, I’d wager that most liberals are still in a bit of a shock over the fact that Donald Trump is in the White House. Never in a million years did they expect a brash, unapologetic billionaire and former reality TV star to win the highest office in the land. It was simply unthinkable. Well, the Left should probably get ready for another unexpected election loss, because another eccentric conservative celebrity has decided to run for office. Earlier this month, Kid Rock, the famous country/nu metal/rap musician announced that he was going to run for the senate seat in his home state of Michigan. Much like what happened when Trump announced his presidential bid, most observers assumed that Kid Rock’s announcement was just a publicity stunt. That notion was quickly dispelled once Kid Rock confirmed his ambitions on Twitter. I have had a ton of emails and texts asking me if this website is real… The answer is an absolute YES. — Kid Rock (@KidRock) July 12, 2017 And once again, much to the surprise of the establishment, the musician is surprisingly popular. A recent poll from Delphi Analytica showed that Robert “Kid Rock” Ritchie was preferred by voters, when compared to incumbent Democratic Senator Debbie Stabenow. To gauge Ritchie’s chances in a hypothetical general election matchup, Delphi Analytica conducted a poll...

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