NC Renegades

The Italian financial meltdown that we have been waiting for has finally arrived. For quite a long time I have been warning my readers to watch Italy, and now people are starting to understand why. Italian banking stocks continued their collapse for a fifth consecutive day on Wednesday, and nervous Italians are beginning to quietly pull large amounts of money out of the banks. In particular, Monte dei Paschi is a complete and utter basket case at this point. A staggering one-third of their loans are “non-performing”, and the stock price has fallen a staggering 57 percent since 2016 began. Monte dei Paschi is going to need a major bailout, and the same thing could be said about almost all of the largest Italian banks. But where is the money going to come from?

As rumors of trouble at Monte dei Paschi spread, Italians are getting money out of the bank while they still can. The following comes from the Daily Mail…

More…

UPDATE:

I think that YouTube is competing with Facebook on which one can censor any criticism of Islam. The video has been removed.

This video was posted in Polish.

Translation: Immigrants are attacking tourists attack.

More…

h/t Matt Bracken

Facebook has decided to start censoring “hate speech.” I cannot think of an issue that so well illustrates the value of the Constitution.

Now, to be honest, Facebook is a commercial enterprise and has every right to censor it’s content. Just as its subscribers have every right to find some other social media outlet that has a better grasp of the necessity of the public discourse, which, by nature, must be free from restriction.

But, what Facebook has decided is that it wants to control the debate, allowing one side to freely express itself and restricting the other side. It has chosen to be a megaphone rather than a telephone. It wants to allow others to speak to us, but will not allow us to speak to them. To me, that is a really poor business model, but that is what they have chosen to do. It is a poor business model, because if they were intellectually honest, they would wind up disposing of nearly all of their accounts save for the Mother Teresas of the world.

More…

by Fran Porretto

The statement supposedly comes from one of the Dune novels. Wherever it may have originated, it perfectly expresses the overarching methodology of Islam, the American Left, and any number of groups throughout history that began their rise from a minority position but had no real interest in freedom.

He who asks you to conform to a principle that:

• You hold;
• He doesn’t;
• Which serves him at the moment;
• But which he would not honor were your positions reversed;

…is a villain. He deserves no consideration and should get none. Worse, if you concede to him, it won’t be long before your positions are reversed. That’s why Saul Alinsky emphasized that Leftists should “Make the enemy live up to its own book of rules.” He knew that “the enemy” – i.e., freedom loving Americans – would feel pressured to abide by a rule of conscience that could only be used against them.

Far be it from me to decry rules of conscience. Ultimately, they’re all we have. But if we know, with empirical certainty, that the petulant minority demanding that we give them a privilege – i.e., that a rule that applies only to us shall not bind them – we cannot accommodate them without consigning ourselves to rightlessness.

More…

Last week, mega bank UBS published a document entitled “The Future of Europe”, written by analysts in its Chief Investment Office. The message of the report is clear: we need more migrants for cheaper labour in Europe, or big, corporate profits will be hit. But it also states that Britain exiting the EU may help smaller nations and lead to treaty change for the European Union (EU).

The document begins with quotes from European Commission President Jean Claude Juncker, and billionaire “no borders” campaigner George Soros. It states, right from the get go: “To match the US labor growth rate, the EU needs 1.8m additional immigrants (of working age) annually for the next 10 years…”

In other words the migrant crisis – while a nightmare for Western Civilisation, for towns and cities across Europe, and for European security – is perfect for those who want more cheap labour on the continent. This point is accidentally underscored by the authors’ own inclusion of tables that reveal the unemployment rate in Europe was 10.2 per cent in 2014, while just 6.2 per cent in the United States.

More…

Source

More…

~~~~~~~~~~~~~~~~~~~~~~~

Actually, that is not even close. It does not matter how much money we have or how much we are taxed: they will always want more. And they will print more as we see the Fed doing by monetizing the debt. Which devalues the dollars that we do have. Which enslaves us, our children and our grandchildren.

David DeGerolamo

ByWalter E. Williams

Last July, Anthony Hervey, an outspoken black advocate for the Confederate flag, was killed in a car crash. Arlene Barnum, a surviving passenger in the vehicle, told authorities and the media that they had been forced off the road by a carload of “angry young black men” after Hervey, while wearing his Confederate kepi, stopped at a convenience store en route to his home in Oxford, Mississippi.

His death was in no small part caused by the gross level of ignorance, organized deceit and anger about the War of 1861. Much of the ignorance stems from the fact that most Americans believe the war was initiated to free slaves, when in truth, freeing slaves was little more than an afterthought. I want to lay out a few quotations and ask what you make of them.

During the “Civil War,” ex-slave Frederick Douglass observed, “There are at the present moment many colored men in the Confederate army doing duty not only as cooks, servants and laborers, but as real soldiers, having muskets on their shoulders, and bullets in their pockets, ready to shoot down loyal troops, and do all that soldiers may to destroy the Federal Government and build up that of the traitors and rebels” (Douglass’ Monthly, September 1861).

“For more than two years, negroes had been extensively employed in belligerent operations by the Confederacy. They had been embodied and drilled as Rebel soldiers, and had paraded with White troops at a time when this would not have been tolerated in the armies of the Union.” (Horace Greeley, in his book, “The American Conflict”).

More…

h/t Dee S

It’s official – global stocks have entered a bear market.  On Wednesday, we learned that the MSCI All-Country World Index has fallen a total of more than 20 percent from the peak of the market.  So that means that roughly one-fifth of all the stock market wealth in the entire world has already been wiped out.  How much more is it going to take before everyone will finally admit that we have a major financial crisis on our hands?  30 percent?  40 percent?  This new round of chaos began last night in Asia.  Japanese stocks were down more than 600 points and Hong Kong was down more than 700 points.  The nightmare continued to roll on when Europe opened, and European stocks ended up down about 3.2 percent when the markets over there finally closed.  In the U.S., it looked like it was going to be a truly historic day for a while there.  At one point the Dow had fallen 566 points, but a curious rebound resulted in a loss of only 249 points for the day.

As bad as things are in the U.S. right now, the truth is that we still have a long way to go to catch up with the rest of the planet.  Around the world, many major stock indexes are already down more than 30 or 40 percent.  Overall, the MSCI All-Country World Index is now down 20 percent, which officially puts us in bear market territory…

More…