Kim Jong Un’s trigger-happy antics have nearly depleted a critical slush fund the North Korean despot uses to run his isolated country — and the Hermit Kingdom’s participation in the upcoming Winter Olympics is merely a scheme to refill his coffers, according to a report.
Two Chinese sources with ties to top North Korean government officials told Radio Free Asia that Kim has nearly exhausted his slush fund due to missile and nuclear weapon and tests, as well as vanity projects, such as the much-publicized Masikryong Ski Resort.
“Due to Kim Jong Un’s extravagant spending, the slush fund from his father, Kim Jong Il, is running out,” one of the sources told the news agency. “It won’t be easy to control North Korea’s high-level executives, who are [cunning] like raccoons.”…. more
American billionaire George Soros’ money has helped abortion advocacy groups in Ireland, but the nation’s government has demanded the groups return his donations.
The Irish Standards in Public Office Commission (SIPO) demanded that Amnesty International in Ireland return the Soros-funded Open Society Foundation’s 137,000 euro ($160,964) donation for its “My Body My Rights” campaign to repeal the country’s abortion ban.
Ireland’s finance laws bar foreign donors from giving to groups that seek to sway elections or public policy. Amnesty International executive director Colm O’Gorman said the order is flawed and his organization “will consider every opportunity to challenge this decision.”… more
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DENVER – In less than 15 minutes, my dad had his cell phone number stolen from him and had his bank account hacked into, all while he watched as his email alert him every step of the way.
It appears that his T-Mobile cell phone number was used against him, ported to an account with Metro PCS, and then used to allow a thief to gain access to his online bank account.
“I was on the phone with Wells Fargo as the money was being transferred,” my dad Mike Zelinger said. “As I was waiting, I was receiving emails from Wells Fargo saying that this has been completed, and your transfer has been completed.”
What my dad is going through does not appear to be isolated. Customers have complained on Twitter and Reddit about their phone number being ported elsewhere and then used to gain access to bank accounts…. more
If the Trump administration puts sanctions on China, this would hurt America more because it just forces China and Russia and other countries to cooperate, says investor and financial commentator Jim Rogers.
US Treasury Secretary Steven Mnuchin warned on Tuesday that the US could impose economic sanctions on China if it does not implement the new sanctions regime against North Korea, saying that the restrictions could involve cutting off Beijing’s access to the US financial system.
“If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the US and international dollar system, and that’s quite meaningful,” Mnuchin said at the Delivering Alpha Conference in New York City…. read more
A few weeks ago the Board of Trustees of Social Security sent a formal letter to the United States Senate and House of Representatives to issue a dire warning: Social Security is running out of money.
Given that tens of millions of Americans depend on this public pension program as their sole source of retirement income, you’d think this would have been front page news…
… and that every newspaper in the country would have reprinted this ominous projection out of a basic journalistic duty to keep the public informed about an issue that will affect nearly everyone.
But that didn’t happen. The story was hardly picked up. It’s astonishing how little attention this issue receives considering it will end up being one of the biggest financial crises in US history… read more
by Brian Maher, Managing editor, The Daily Reckoning
“This is going to be a national crisis…”
“This” being America’s woefully underfunded pension liabilities, according to Karen Friedman. She’s the executive vice president of the Pension Rights Center.
(A place called the Pension Rights Center does in fact exist. We checked.)
MarketWatch columnist Jeff Reeves howls in confirmation that “collapsing pensions will fuel America’s next financial crisis.”
“This is not a distant concern,” warns he, “but a system already in crisis.”
According to data supplied by the Federal Reserve, pensions — public and private combined — were roughly 27% underfunded at the end of last year.
By some estimates, America’s public pensions alone are sunk in a $6 trillion abyss.<!–more–>
The federal government currently wields a tremendous amount of power over the citizens of the United States, far more than the Founders intended.
One manifestation of federal overreach is civil asset forfeiture. This practice allows the federal government to confiscate the wealth of its citizens upon the mere suspicion of wrongdoing.
The IRS, not content with expropriating the wealth of its citizens on April 15 every year, has now taken up the practice of seizing funds that have been involved in perfectly legal transactions on the basis of a hunch.
Thankfully, legislation in the House and the Senate has been introduced to bring this practice to a halt. Both chambers should act on the bills swiftly…. read more
I’ve come to believe that there are really very few patriots left in government. President Trump seems to be the exception. With all the money he’ll ever need, he has no reason to appease anyone or to be bribed with filthy lucre. He’s just the right person to be in charge of the government and it’s my understanding that he is only accepting one dollar a year for serving our country.
I have a distinct feeling that Obama walked away with millions stashed away in secret overseas bank accounts. Millions have disappeared from various governmental agencies with the collapse of the DNC. All too many politicians are only in it for all the money and power they can muster, not to mention the other benefits and perks.
Like Jesus said, “The love of money is the root of all evil.”… read more