Errol Spence Jr.-Danny Garcia live results and analysis – ESPN

  1. Errol Spence Jr.-Danny Garcia live results and analysis  ESPN
  2. Errol Spence Jr. & Danny Garcia weigh-in before Dec. 5 Championship fight | WEIGH-INS | PBC ON FOX  PBC ON FOX
  3. Crawford: Spence Fight Not Important, I Don’t Need Him For My Legacy – He Needs Me!  BoxingScene.com
  4. Spence-Danny Garcia: Live streaming results, start time, how to watch  Bad Left Hook
  5. Boxing World Predicts Spence-Garcia  FOXSports.com
  6. View Full Coverage on Google News



Source: Google News, Errol Spence Jr.-Danny Garcia live results and analysis – ESPN

Head injuries suffered by US diplomats likely caused by microwave energy, National Academy of Sciences says

The mysterious head injuries suffered by US diplomatic staff in China and Cuba that had been described as “sonic attacks” are consistent with the use of directed microwave energy, according to a report published Saturday by the National Academy of Sciences.



Source: CNN, Head injuries suffered by US diplomats likely caused by microwave energy, National Academy of Sciences says

‘They’re Playing With Our Lives’: What Happens Next for DACA’s ‘Dreamers’ – The New York Times

  1. ‘They’re Playing With Our Lives’: What Happens Next for DACA’s ‘Dreamers’  The New York Times
  2. A court just reinstated DACA, but the decision has bad news for Biden  Vox.com
  3. Judge deals potential final blow to Trump’s attempt to end DACA protections  Yahoo News
  4. 10 things you need to know today: December 5, 2020  The Week Magazine
  5. ‘I’m tired of hiding’: After judge orders feds to take new DACA applications, some Californians rejoice  Los Angeles Times
  6. View Full Coverage on Google News



Source: Google News, ‘They’re Playing With Our Lives’: What Happens Next for DACA’s ‘Dreamers’ – The New York Times

Trump is pulling troops out of Somalia. But many are staying in the region. – Vox.com

  1. Trump is pulling troops out of Somalia. But many are staying in the region.  Vox.com
  2. Trump Orders All American Troops Out of Somalia  The New York Times
  3. Pentagon says ‘majority’ of US troops leaving Somalia  Fox News
  4. Trump orders most US troops to withdraw from Somalia  CBS News
  5. ‘Extremely regrettable’: U.S. decision to withdraw troops dismays some Somalis  NBC News
  6. View Full Coverage on Google News



Source: Google News, Trump is pulling troops out of Somalia. But many are staying in the region. – Vox.com

Syracuse vs. Notre Dame Football Highlights (2020) – ACC Digital Network

  1. Syracuse vs. Notre Dame Football Highlights (2020)  ACC Digital Network
  2. Ian Book accounts for 5 TDs in final home game, becomes Notre Dame’s winningest quarterback  ESPN
  3. Syracuse vs. Notre Dame | EXTENDED HIGHLIGHTS | 12/5/2020 | NBC Sports  NBC Sports
  4. Irish prepare for a senior day unlike any other  WNDU-TV
  5. Notre Dame takes down Arizona State in the closing seconds of game 2  One Foot Down
  6. View Full Coverage on Google News



Source: Google News, Syracuse vs. Notre Dame Football Highlights (2020) – ACC Digital Network

Everything to Know About Blake Shelton's 3rd Hallmark Movie 'Time For Us To Come Home For Christmas' – countryliving.com

  1. Everything to Know About Blake Shelton’s 3rd Hallmark Movie ‘Time For Us To Come Home For Christmas’  countryliving.com
  2. Best Netflix Christmas movies: 15 family-friendly holiday films you can stream now  TechRadar
  3. How Much Are Danica McKellar, Holly Robinson Peete, Lacey Chabert, and Your Other Favorite Hallmark Christmas Movie Stars Worth?  Showbiz Cheat Sheet
  4. 11 Christmas Movies That Should Have Been More Popular  Bustle
  5. 10 Most Underrated Christmas Movies Of The Past 5 Years  Screen Rant
  6. View Full Coverage on Google News



Source: Google News, Everything to Know About Blake Shelton’s 3rd Hallmark Movie ‘Time For Us To Come Home For Christmas’ – countryliving.com

STUNNING: Michigan and Pennsylvania Secretaries of State Gave Far Left Rock the Vote Activists Access to Sensitive Data on All Voters

On Monday, Charlie Kirk interviewed former Kansas Attorney General Phil Kline of the Amistad Project, on his Got Freedom show. The interview starts at the 41:00 minute mark, but a bombshell is dropped by Kline at the 43:15 mark, where he reveals how Facebook CEO Mark Zuckerberg’s contributed $400 million to a leftist group that was used to give Democrat-stronghold areas, especially in critical swing states, an advantage in the November election.

In the video, Kline reveals how the Democrats stole ballots from Americans. He explained how “third parties,” specifically Rock the Vote, were given “front end access” to voter rolls by Democrat Secretary of States where they actually had the ability to add names to the voter rolls.

All Posts

Kline explained to Charlie Kirk that Rock The Vote signed an information-sharing contract with PA Democrat Secretary of State Kathy Boockvar and MI Democrat Secretary of State Jocelyn Benson. They gave them full access to their state’s entire voter rolls. According to Phil Kline, their contracts gave them the ability to freely enter data into the poll books. Kline explained that he isn’t saying they added voters, but they are getting access to information showing that voters who don’t exist voted in our elections.

Jocelyn Benson and Kathy Boockvar

Mr. Kline explained how the Zuckerberg backed Center for Election Innovation and Research helped them to cover it up, explaining that Facebook’s Mark Zuckerberg gave them $50 million. He asked Kirk, “Do you know what they do?” Kline told Kirk the Zuckerberg funded group does “the software on the poll books.”

Kline told Kirk, “This was an orchestrated and concerted effort to dramatically and improperly influence this election for a specific result that was manifested through something we’ve never seen before, and that’s private-public partnerships that shared sensitive data on individual citizens with the private sector so that they would have front door access to manipulate the election.”

Kline continued, explaining the role of Mark Zuckerberg in their efforts, “And that was played out and funded by a billionaire, who not only is engaged now in censorship, and that he believes that we are too stupid to understand the truth, so he has to protect us from ourselves. He’s also now playing a role now in how we choose our leaders. That money was teamed up with other funds from Google and big tech to directly purchase election officials in managing the election, creating a two-tiered election system—one making it easy, almost impossible for Democrats not to vote and one making it more for Republicans areas to vote.” Kline explained that those things combined violate the Equal Protection Clause of our constitution.

 

The post STUNNING: Michigan and Pennsylvania Secretaries of State Gave Far Left Rock the Vote Activists Access to Sensitive Data on All Voters appeared first on The Gateway Pundit.



Source: The Gateway Pundit, STUNNING: Michigan and Pennsylvania Secretaries of State Gave Far Left Rock the Vote Activists Access to Sensitive Data on All Voters

MASSIVE blaze, EXPLOSIONS at a gas plant near a mall in El Salvador (VIDEOS, PHOTOS)

A gas plant just outside the country’s capital went up in flames on Saturday afternoon, as videos and photos depicting the extensive impact surfaced on social media. So far, there have been no reports of victims.

A massive fire combined with blasts has been filmed not far from the local Plaza Mundo mall, with authorities urging residents to avoid the area.

The nearby shopping center has been evacuated due to initial threat of the blaze rapidly spreading beyond the gas plant’s territory.

However, local fire department later announced that 15 firefighters with three motor pumps and a cistern managed to contain the flame.

There have been no reports of victims or injuries. According to the department, the blaze caused the roof of the building where gas cylinders were filled and stored to collapse. Beyond that, damage has only been caused to 10 vehicles belonging to the gas company.

The president of El Salvador Nayib Bukele has praised the firefighters’ rapid response, saying they managed to do “an amazing job” by “putting out a mega fire in just a few minutes.” He has also ordered an investigation to determine those responsible for the incident.

Like this story? Share it with a friend!



Source: RT, MASSIVE blaze, EXPLOSIONS at a gas plant near a mall in El Salvador (VIDEOS, PHOTOS)

Smartmatic – Dominion Voting Systems Timeline

Smartmatic – Dominion Voting Systems Timeline:

Ownership, Acquisitions, Reorganizations, and Technology Transfers

by Dynamojo — ABCU|8

“Founded in Venezuela in 1997 by a team of three engineers – Antonio Mugica, Alfredo José Anzola, and Roger Piñate, Smartmatic specializes in the design and end-to-end deployment of technology solutions for specific applications. The company’s niches are: electronic voting systems, smart city solutions (including public safety and public transportation), identity management systems for civil registration, and authentication products for government applications.” [1]

On April 11, 2000, the same three Venezuelan engineers founded the company Smartmatic in Delaware, United States and opened its headquarters in Boca Raton, Florida with seven employees in November of that year.

“Delaware, US: The world’s top secrecy jurisdiction. Register a company here and no one will ever know. If you have overseas income, it will be tax exempt.” [2]

2003

In April 2003 in Caracas, Venezuela, Smartmatic officially unveiled its prototype for election automation. The testing of the prototype covered all the details of the process necessary for any type of election. During the tests, emphasis was placed on the system’s encryption capabilities, which are essential for the confidential storage and transmission of data, as well as the robustness of the software and hardware system’s components. The system passed all tests with no shortcomings, said a company spokesperson.

Such a complex, purpose-built technical solution would require a strong, system-wide R&D capability that would not have been possible in Venezuela without massive technical and financial support. Although Smartmatic established a U.S. presence in 2000, almost all of its products were developed in Venezuela, a country where capital is scarce and scientific research and manufacturing are not sophisticated.

2004

According to the New York Times, at the beginning of 2004, a Venezuelan government financing agency invested more than USD $200,000 in a technology company owned by the same owners of Smartmatic: Bitza. Omar Montilla Castillo (a Chavez government official). [15]

Smartmatic moved its headquarters to Amsterdam, the Netherlands in 2004.

WikiLeaks provides some more detail, “…they have a list of about 30 anonymous investors …. the silent partners are mainly upper-class Venezuelans, …. then Defense Minister Jose Vicente Rangel …. the Vice President’s daughter Gisela Rangel Avalos, Chávez’s political mentor Luis Miquelina is also a shareholder in the company ….” The true identity of most of Smartmatic’s shareholders remains a mystery. [10]

2010 – Smartmatic UK – Companies House [3]

2014 Launch of SGO

In 2014, Mugica, together with British Lord Mark Malloch-Brown, announced the launching of the SGO Corporation Limited, a holding company headquartered in London whose primary asset is the election technology and voting machine manufacturer, Smartmatic. Mugica is CEO of SGO Smartmatic and his Venezuelan cofounder, Roger Piñate, also sits on the London board.

David Giampaolo. Another board member of SGO Smartmatic in London is DLA Piper global CEO, Sir Nigel Knowles. DLA Piper was then the world’s largest law firm in 2014. Notably, Douglas C. Emhoff, husband to Kamala Harris, is a partner at DLA Piper.

Lord Mark Malloch-Brown, chairman of SGO Smartmatic is quite a key figure. As documented in excellent research by Matthew Ehret, Malloch-Brown has been on the board of the Davos World Economic Forum, the prime driver behind the dystopian ‘Great Reset’ agenda of UN Global 2030. He has been also a board member of George Soros’ Open Society Foundations and Soros Quantum Fund. Soros is a major funder of Democratic Party candidates and groups, including BLM. Malloch-Brown was a Deputy Secretary General of the UN under corrupt Kofi Annan and was Vice President of the World Bank. The Labour Party member is also a member of the highly secret Privy Council, an elite of some 500+ people selected by the Queen to run affairs of state. In 2008 just after the inauguration of Barack Obama as president, Obama’s UN Ambassador-to-be, Samantha Power, noted that, “The principal conduit between Britain and the Candidate [Obama] has been Lord Malloch-Brown, the Junior Foreign Minister…” This is the person today heading the highly controversial voting systems group, Smartmatic.

Mugica is the CEO of Smartmatic. Although Smartmatic have run elections in Utah and Los Angeles, their footprint in the US remains small. Worldwide, they supply voting machines, voting systems and support services. [4]

In 2017 they became embroiled in charges of vote fixing in the Venezuelan elections.

In the United States, Smartmatic has a four-person Board. The Smartmatic USA chairman is Peter Neffenger, who has just been named to Joe Biden’s Transition Team. Neffenger was in the Obama Administration as TSA head. Fellow Smartmatic USA board member, Paul DeGregorio, was Chairman of the United States Election Assistance Commission (EAC) from 2003-2007. EAC was created by the 2002 Help America Vote Act and is responsible for “administering payments to states and developing guidance to meet HAVA requirements, adopting voluntary voting system guidelines, and accrediting voting system test laboratories and certifying voting equipment.” Sitting also with Neffenger and DeGregorio at the USA Smartmatic board is Gracia Hillman who also served as Chairman of the US Election Assistance Commission from 2003 to 2010 under Obama. Their website declares, “Smartmatic is the global leader in secure, accessible, transparent election technology & support services.

Sequoia Voting Systems

In 1984, Sequoia Pacific System Corporation purchased the voting machine business of AVM Corporation (the former Automatic Voting Machine Corporation) and reorganized it as Sequoia Voting Systems.

In March 2005 Smartmatic bought the California Sequoia Voting Systems from its then-owner, De La Rue, a British currency paper printing and security company

The merged Smartmatic-Sequoia company was flourishing in the US market until a US Treasury investigation of Smartmatic’s possible ties to a foreign government, Venezuela, forced Smartmatic to sell Sequoia. They did so in an allegedly deceptive sale to Smartmatic US managers who were US citizens, under terms not made public, as SVS Inc., allowing the US Government to drop the investigation. But Sequoia, now called SVS Inc. of the USA, was still controlled by the Venezuelan-origin Smartmatic. Smartmatic retained ownership of intellectual property rights for Sequoia’s currently deployed election products in the United States.

An important detail is that, right after the company of the three Venezuelans acquired the electronic voting company Sequoia, Smartmatic reorganized itself into a holding of several companies with headquarters in Delaware (Smartmatic International), the Netherlands (Smartmatic International Holding, B.V.) and Curaçao (Smartmatic International Group, N.V.).

2006

May 2006, Democratic Congresswoman Carolyn Maloney asked the Treasury Department to investigate Smartmatic’s purchase of Sequoia.

“I am writing because of possible investments by the Venezuelan Government in Smartmatic, an electronic voting company with business in the United States, and its acquisition of Sequoia, a U.S.-based electronic voting company,” reads the letter Maloney sent to then-Treasury Department Secretary John W. Snow.

“As you can imagine, having a foreign government invest in or buy a company that services U.S. elections could raise concerns about the integrity of the elections conducted by these machines,” the letter continues.

Speaking to the New York Times, Maloney said, “The government should know who owns our voting machines. This is a national security concern.”

2007

Press Release: Smartmatic Announces Sale of Sequoia Voting Systems Nov 8, 2007 [5]

“WASHINGTON – Smartmatic, the voting machine firm with ties to the Venezuelan government, today announced that it is divesting ownership of the voting machine company Sequoia Voting Systems. Congresswoman Carolyn Maloney (D-NY) shined the congressional spotlight on the Sequoia purchase last year by Smartmatic because it posed serious national security concerns about the integrity of our elections.  Last year, Smartmatic decided to sell Sequoia rather than complete an investigation by the Committee on Foreign Investment in the United States (CFIUS), the government entity charged with ensuring the safety of foreign investment in the U.S.  (To read the official Sequoia sale announcement:…)

In November 2007 CFIUS issued a ruling ordering Smartmatic to sell all of its shares in Sequoia Voting Systems in exchange for CFIUS dropping its investigation of Smartmatic. But what followed was far from what one might expect. Following a ruling by the CFIUS, Smartmatic was ordered to sell to Sequoia’s management team- SVS Holdings Inc, (Sequoia Holdings).

“I am relieved by the news of this sale – it was a long time coming,” said Maloney. “The integrity of our voting machines and elections is vital to national security. Given all of the past uncertainty and anxiety surrounding electronic voting, it’s nice that voters will have this added reassurance when they enter the voting booth this Election Day.”

The company replaced its headquarters in Boca Raton in favor of a complex structure with offices in multiple locations. The U.S. State Department said its Venezuelan owners “remain hidden behind a network of holding companies in the Netherlands and Barbados”; its organization is “a complex network of offshore companies and foreign trusts.”

All of the software that Sequoia was using was, in fact, from Smartmatic. The old voting machines were renovated and all of their technology was developed and patented. As a consequence of the changes that Smartmatic was promoting in Sequoia, the company managed to be successful until, after the controversies and the warning call from Congresswoman Maloney, the Committee on Foreign Investment in the United States ordered, in November 2007, that Smartmatic sell Sequoia.

In October 2007 The Foreign Investment & National Security Act of 2007 became effective. The statute amends Section 721 of the Defense Production Act, which was enacted in 1988 to provide for national security reviews of foreign investments. Pre-FINSA, the Committee on Foreign Investment in the United States (CFIUS) implemented Section 721 solely per Executive Order 11858. [6]

Why did Smartmatic retain this control over finances, intellectual property, and non-compete clauses, and why did CFIUS approve this arrangement?

According to the Dominion press release, if the rest of it can be believed, the Sequoia purchase was “reviewed by the U. S. Department of Justice and nine state attorneys general” and “also reviewed in detail and received approval by the Committee of Foreign Investment in the United States (CFIUS).”

In 2007, Princeton Professor of Computer Science, Andrew Appel, testified as an expert in a legal case in New Jersey involving the Sequoia Advantage voting machines that it was “very easy to replace the software inside a computerized machine so it tells the voter it is voting for one candidate but really puts the vote in the wrong column…You can even program it to do that only on election day.” [4]

In the same year 2007, the California Secretary of State (Debra Bowen) decertified Sequoia voting machines in the state election, declaring that the Sequoia voting machines allow the “insertion of a Trojan program via a malicious USB removable storage media device that could modify ballot definitions and results.” The ruling added that Sequoia voting machines could be made to “shift votes from one candidate to another and [the shift] was not detectable on the voter verifiable paper audit trail.” These are the same tricks of fraud being challenged by the Trump legal teams. [7]

2008

In an article published on April 10, 2008, journalist Bradley Friedman writes: “Smartmatic had been forced to relinquish control of Sequoia after the media and Congress noticed that the company had links to Hugo Chávez.” In the end, the buyers were the company’s own managers, but those with U.S. citizenship.

But the verdict did not end Smartmatic’s controversial relationship with Sequoia. In fact, in April 2008 a market competitor, Hart InterCivic, tried to acquire Sequoia in a hostile move. This led to the involvement of the courts. Smartmatic was exposed. [8]

At the end of April 2008, a shocking event occurred: one of Smartmatic’s founders, who was also the founder of the American company, died in a plane crash in Venezuela, along with Smartmatic’s finance department and the plane’s pilot. The Venezuelan Minister of the Interior (said to be a relative of the founder) was the first to arrive at the hospital, along with Jorge Rodriguez, former President of the Venezuelan Electoral Council and former Vice President of Venezuela.

2010

Next, this fraud-ridden Smartmatic-controlled Sequoia Voting Systems, a/k/a SVS Inc., was bought on June 4, 2010 by a previously obscure Canadian company, Dominion Voting Systems, a company engaged in manufacturing electronic voting hardware and optical scanners.

In 2010, Smartmatic sold SVS to Dominion Voting Systems, which eight years later was acquired by the private equity firm Staple Street Capital (SPC). The largest shareholder of SPC is David Mark Rubenstein, who is also a co-founder of the Carlyle Group. [9]

(The Carlyle Group entered China in 1994, fast becoming one of the earliest, largest and most active global investment companies in the communist Chinese regime. In 2017, Carlyle acquired a 19.9 percent stake in China Pacific Insurance Company, making it the first international private equity firm to be approved by the CCP for investment into a state-owned insurance company.

In 2015, Carlyle expanded its Chinese portfolio by acquiring a controlling stake in Tongyi Lubricant. Two years later, Carlyle partnered with CITIC Limited and CITIC Capital to acquire an 80 percent stake in McDonald’s in both mainland China and Hong Kong. That same year, Carlyle and its partners invested in Adicon, one of the largest third-party independent medical testing companies in China.

What this means is that a wealthy Jewish investor is overseeing a portfolio of companies and corporate influences that, in essence, stole the election for Biden with the help of the communist Chinese regime. And this is what the Democrats are calling an “honest election.”

Note: The financial assets of the Saudi bin Laden Corporation (SBC) were also managed by the Carlyle Group before the 9/11 attack in New York. Many influential individuals have worked for or invested in the group, including John Major, former UK Prime Minister; Fidel Ramos, former Philippines President; Park Tae Joon, former South Korean Prime Minister; Saudi Prince Al-Walid; Colin Powell, former Secretary of State; James Baker III, former Secretary of State; Caspar Weinberger, former Defense Secretary; Richard Darman, former White House Budget Director; the billionaire George Soros; bin Laden family members; Alice Albright, daughter of Madeleine Albright, former Secretary of State; Arthur Lewitt, former SEC head; William Kennard, former head of the FCC; Karl Otto Pöhl, former Bundesbank president; Henri Martre, former president of Aerospatiale; and Bilderberg steering committee member Etienne Davignon.

Neil Shen

It is worth taking a closer look at the Sequoia group of companies, Sequoia Capital, Sequoia Capital China, and their particularly their founder Neil Shen. This is the key to the connection with the Chinese Communist Party (CCP). [10], [14]

Neil Shen is not only the founding and managing partner of Sequoia Capital China, he also serves as Global Steward of Sequoia Capital. Neil Shen is a Member of the 13th CPPCC National Committee. He is a Vice Chairman, China Securities Investment Fund Association, Venture Capital Fund Committee. He is Co-founder and Chairman of the Hong Kong X Technology Startup Platform. He is a Member of the Advisory Panel on Innovation and Strategic Development for the Chief Executive of the HKSAR.

In November 2015, during COP 21 (United Nations Conference on Climate Change in Paris), the Breakthrough Energy Coalition was formed led by Bill Gates, Neil Shen, Jack Ma, Mark Zuckerberg and 28 other business leaders who committed to invest significant resources in the next five years to address climate change and clean energy issues. Neil Shen is Director and a long-time benefactor of the Teach For China program

Neil Shen appears to be the key connection between the CCP, Sequoia, and Dominion Voting Systems and their work in the US elections.

Dominion

Dominion of Canada bought Sequoia SVS Inc.; the latter had contracts for 300 jurisdictions in 16 states. Suddenly Dominion, via Sequoia via Smartmatic of London, was a major player in the increasingly corrupt business of computerized voting in the USA. In short, Smartmatic bought US-based Sequoia, put its technology into Sequoia, and then sold it to Dominion.

Dominion also bought Premier Election Solutions, also known as Diebold/Premier, in 2010.

A press release distributed by Dominion on May 19, 2010, highlights the agreement with ES&S—Premier Election was a wholly-owned subsidiary of ES&S—and celebrates the acquisition of the company’s main assets, including intellectual property, software, firmware and hardware of its voting systems.

But the press release’s statement is an out-and-out lie.

As part of a detailed investigative exposé series in 2008, as Investigative journalist Brad Friedman broke the story of Hart Intercivic’s quietly attempted hostile takeover of Sequoia, Friedman revealed the fact that — despite representations to the contrary, possibly even to U.S. government investigators — the intellectual property (IP) for the vast-majority/near-entirety of Sequoia’s voting systems was actually secretly owned by the Hugo Chavez-tied, Venezuelan-based firm, Smartmatic.

Sequoia hadn’t publicly disclosed that Smartmatic still retained legal ownership of the IP used in all of their voting machines, a fact that wasn’t publicly revealed until our exposé which forced a subsequent admission by Sequoia’s then CEO and President Jack Blaine.

ES&S, by the way, is forced to sell Premier Election Solutions by a Department of Justice requirement due to potential monopoly concerns —which prevents it from dominating most of the private electoral market. Dominion took advantage of this.

In 2016 Dominion Vice President Dr. Eric Coomer was asked if it was possible to bypass election systems software and go directly to the data tables that manage systems running elections in Illinois. He replied, “Yes, if they have access.”

However, further insuring that the Canadian Dominion would remain opaque to scrutiny, in 2018 the company was taken over as a private company by its employees together with an opaque private equity firm, Staple Street Capital of New York, allowing them to claim being a “US-owned” company, despite its headquarters in Canada. What little that is known about Staple Street, the new owners of Dominion is that several came from the controversial private equity giant, Carlyle Group Partners. William Kennard, former Obama appointee as EU Ambassador and Bill Clinton appointee as FCC chairman and former Managing Director of the Carlyle Group is in Staple Street Capital.

Hootan Yaghoobzadeh and Stephen D. Owens, both of Staple Street, are on the new Dominion board with Canadian founder, John Poulos. Both also have past ties to the Carlyle Group. The contested State of Georgia has eight registered Dominion lobbyists including Jared Thomas, former chief of staff for Republican Governor Brian Kemp. The Georgia recount had been riddled with bipartisan corruption. Additionally, the Dominion Voting Systems company has admitted being a past donor to the Clinton Foundation and to hiring the former Chief of Staff of Democrat House Speaker Nancy Pelosi, one Nadeam Elshami as a lobbyist.

On October 24, 2018, Smartmatic announced they appointed a U.S. Board of Directors to “guide the company as it offers secure technology to election jurisdictions across the country.”

The Board Chairman would be retired US Coast Guard Vice Admiral Peter Neffenger, who served as Barack Obama’s Assistant Secretary of the Department of Homeland Security and Administrator of the Transportation Security Administration (TSA).

Neffenger is also a member and “distinguished fellow” of the Atlanta Council think-tank that recently received funding from the same Ukrainian firm that employed Hunter Biden for $183,000 a month.

In 2019, the Wall Street Journal reported that Ukrainian energy firm Burisma Holdings–the same one paying Hunter Biden based on possibly illegal and controversial circumstances, donated $100,000 a year to the council from 2016 to 2018.

“He is president and on the board of directors of Smartmatic, and it just so happens he’s on Mr. Biden’s presidential transition team that’s going to be nonexistent, because we’re fixing to overturn the results of the election in multiple states,” Trump Campaign attorney Sidney Powell said during an appearance on Sunday Morning Futures with Maria Bartiromo.

In 2018, Dominion was acquired by private equity firm Staple Street Capital. Staple Street Capital’s largest shareholder is David Mark Rubenstein. He is also the founder of the Carlyle Group.

An investigation into SEC filings has revealed that the firm which owns Dominion Voting Systems received $400 million dollars from a Swiss bank with close links to the Chinese government less than a month before the election. [11]

The investigation, conducted by Austin Security and Investigation Solutions, centers on Staple Street Capital, which acquired Dominion Voting Systems

“On Oct 8, 2020, Staple Street Capital filed SEC Form D offerings and sales amount of $400,000,000 with the Sales Compensation Recipient identified as UBS Securities,” states the investigation, which also notes that another payment of $200,000,000 was received in December 2014. [12]

“UBS Securities is a swiss investment bank which owns 24.99% of UBS Securities Co LTD, a Chinese Investment Bank. The remaining 75% of UBS Securities CO LTD is owned by the Chinese government,” states the report.

The overall owners of UBS Securities Co LTD are:

– Beijing Guoxiang (33%)

– UBS (24.99%)


– Guangdong Comm. Group [zh] (14.01%)

– China Guodian (14%)


– COFCO Group (14%) [13]

Aside from UBS, the other four owners of UBS Securities are all Communist Chinese front groups.

Beijing Guoxiang is a state-owned asset.

Other connections between Dominion Voting Systems and the Chinese government have also emerged in recent weeks, including the company’s Core Infrastructure Manager of Information Technology, Andy Huang, who previously worked for China Telecom, which is “wholly run by the Chinese government,” reported the National Pulse. [1]

References

[1] The link Between Dominion, Sequoia, Smartmatic, and the CCP—The article that got Powell banned from Twitter, https://www.investmentwatchblog.com/censored-across-the-web-the-link-between-dominion-sequoia-smartmatic-and-the-ccp-the-article-that-got-powell-banned-from-twitter/

[2] Delaware – a black hole in the heart of America, https://www.theguardian.com/business/2009/nov/01/delaware-leading-tax-haven

[3] SMARTMATIC UK LIMITED, https://find-and-update.company-information.service.gov.uk/company/07236594/officers

[4] The Murky Foreign Actors Behind US Election Fraud, https://journal-neo.org/2020/11/23/the-murky-foreign-actors-behind-us-election-fraud/

[5] Smartmatic Announces Sale of Sequoia Voting Systems, https://maloney.house.gov/media-center/press-releases/smartmatic-announces-sale-sequoia-voting-systems

[6] CFIUS Reform: The Foreign Investment & National Security Act of 2007 (FINSA), https://www.treasury.gov/resource-center/international/foreign-investment/Documents/Summary-FINSA.pdf

[7] Source Code Review of the Sequoia Voting System, July 2007, Univ. of Calif. at Davis, https://votingsystems.cdn.sos.ca.gov/oversight/ttbr/sequoia-source-public-jul26.pdf

[8] Smartmatic Corp. v. SVS Holdings, Inc., et al., Letter Opinion, April 4, 2008, https://law.justia.com/cases/delaware/court-of-chancery/2008/105040-1.html

[9] LOOK Who Owns Dominion Voting Systems: Politically Motivated PRIVATE Equity NY Hedge Fund, https://gellerreport.com/2020/11/look-who-owns-dominion-voting-systems-politically-motivated-private-equity-ny-hedge-fund.html/

[10] Hi-tech Election Fraud Exposed: Why Twitter Banned Sidney Powell, The link Between Dominion, Sequoia, Smartmatic, and the CCP, https://principia-scientific.com/hi-tech-election-fraud-exposed-why-twitter-banned-sidney-powell/

[12] Firm That Owns Dominion Voting Systems Received $400 Million From Swiss Bank Account Funded by Communist Chinese Gov & Companies Before Election, https://summit.news/2020/12/01/firm-that-owns-dominion-voting-systems-received-400-million-from-swiss-bank-with-connection-to-chinese-government-before-election/

[11] Firm That Owns Dominion Voting Systems Received $400 Million From Swiss Bank With Connection to Chinese Government Before Election, https://stillnessinthestorm.com/2020/12/firm-that-owns-dominion-voting-systems-received-400-million-from-swiss-bank-with-connection-to-chinese-government-before-election/

[13] https://en.wikipedia.org/wiki/UBS_Securities

[14] The CCP Captured U.S. Power by Controlling Sequoia Capital, link redacted to avoid Big Tech censorship

[15] U.S. Investigates Voting Machines’ Venezuela Ties, https://www.nytimes.com/2006/10/29/washington/29ballot.html

McConnell Faces New Pressure for Big Stimulus After Grim Unemployment Report: 'Political Games Costing Lives' – Newsweek

  1. McConnell Faces New Pressure for Big Stimulus After Grim Unemployment Report: ‘Political Games Costing Lives’  Newsweek
  2. Congress could pass coronavirus stimulus deal before Christmas  CBS This Morning
  3. COVID relief negotiations: Unemployment benefits, PPP, stimulus checks as Congress seeks new deal  WTVD-TV
  4. Herald Editorial: Pols should feel pinch of dragging out stimulus bill  Boston Herald
  5. David Brooks: This is the winter Mitch McConnell made  Salt Lake Tribune
  6. View Full Coverage on Google News



Source: Google News, McConnell Faces New Pressure for Big Stimulus After Grim Unemployment Report: ‘Political Games Costing Lives’ – Newsweek

Exclusive: Georgia Sens. David Perdue, Kelly Loeffler Vow ‘Never’ to Support Amnesty for Illegal Aliens

Georgia Republican Sens. Kelly Loeffler and David Perdue are vowing “never” to support amnesty for illegal aliens as they both face Democrat challenges in a January runoff election that will decide if the GOP remains in the United States Senate majority.

Source: Breitbart, Exclusive: Georgia Sens. David Perdue, Kelly Loeffler Vow ‘Never’ to Support Amnesty for Illegal Aliens

Florida HS football game that featured Blue Lives Matter flag, anthem kneeling ends in brawl

A Florida high school received 10 player suspensions and a $500 fine Thursday over a postgame brawl that was apparently sparked by heightened tensions over one school’s use of the Blue Lives Matter flag, another school’s players kneeling during the national anthem and accusations of racial slurs.

Source: Fox News, Florida HS football game that featured Blue Lives Matter flag, anthem kneeling ends in brawl

No, Low Rates Do Not Lead To Higher Earnings Multiples: What That Means For Markets

No, Low Rates Do Not Lead To Higher Earnings Multiples: What That Means For Markets

Tyler Durden

Sat, 12/05/2020 – 18:35

With the S&P closing Friday at a new record high just shy of 3,700, which as we showed last week translates into a Shiller CAPE ratio now above levels where it was on the eve of the crash of 1929 for the first time since the dot com bubble…

… even Goldman has been forced to admit that stocks around the globe are at extremely elevated valuations relative to history not just on a forward P/E multiple basis…

… but across all valuation metrics…

… with one exception: the equity risk premium, which is also used in the so-called “Fed model”, both of which boil down to a simple concept: that low interest rates (and rates are now the lowest they have been in 4000 years of history) justify – and “allow” – high earnings multiples, implying that even if stocks are extremely overvalued since rates are at historic lows, investors have no choice but to keep buying stocks as there are no alternatives.

But is that true?

That’s the question which Gerard Minack, of Minack Advisors, raised this week as Bloomberg’s John Authers noted: do low interest rates on their own lead to higher earnings multiples?

Well, contrary to what Goldman, Morgan Stanley and virtually every other bank writes using the “Fed Model” as the only valuation-based justification for projecting even higher S&P500 targets in 2021 and onward (most banks predict the S&P will rise another 10-15% next year), Minack’s answer is a resounding no: it’s not rational to bid up stocks just because rates are low.

The reason is blindingly simple to anyone whose pay doesn’t depend on goalseeking a bullish narrative, namely that “all else is not equal”, or in other words, interest rates are usually low – i.e. disinflationary – because growth is bad, and as Authers redundantly clarifies, when growth is bad that tends to be bad for equities (except, paradoxically, now when collapsing global GDP has pushed world stocks to record highs).

Minack digs deeper to find that there is a curved relationship between rates and equities over time: when rates come down from very high levels, equity multiples tend to improve, but when rates then drop to very low levels, equity multiples fall because this generally means that the economy is mired in a recession.

The chart below from Minack maps the CAPE on one scale against the 10-year yield on the other for every month since 1925. It shows that the relationship between the two isn’t that strong. In fact, the best fit Minack can find, excluding the bubble dot-com years, has an R-squared of only 0.12, meaning only a weak correlation:

As Authers points out the dot-com bubble readings, in pink, are almost off the chart — irrationally high multiples given the interest rates of the time (everyone knows what happened next). The current reading, shown in bright red, is clearly alarming as it’s the only time outside of the dot com bubble when the CAPE ratio was this high. This isn’t a well-explored end of the spectrum, obviously, but stocks do look expensive… and of course, Wall Street is quick to point out that this is justified due to the record low yields. Further bolstering the bullish case, one can extrapolate Shiller’s logic to show that one would expect the excess yield to rise further as rates get to extreme lows. If the relationship with rates held as anticipated in his chart, then the excess yield as calculated by Shiller would be roughly double what it is now (and stocks, on Shiller’s suggested methodology, would look like a screaming buy).

What if instead of nominal one uses real yields? Minack repeats his exercise to account for inflation, looking precisely at real yields which as one can imagine, are low present, but not historically unprecedented. As Bloomberg’s Authers writes, this exercise gives a slightly better correlation, “makes the dot-com bubble look like more of an outlier and, sadly, also makes the current point look like more of an outlier.” In short, while there have been a number of observations with 10-year nominal yields below the rate of inflation in the past, this is the most expensive that stocks have ever been during such a period:

What is particularly notable is that not every market is an outlier like the US: the next chart, which uses nominal yields since 1987, compares CAPEs and 10-year yields for developed markets outside the U.S., emerging markets, and the U.S. While the US is clearly a bubble, stocks outside the U.S. appear to be reasonably valued given the level of interest rates. It is only U.S. stocks look wildly overpriced across most valuation metrics as even Goldman would agree:

And here a nuance emerges: as Authers points out, in an intriguing development, the U.S. relationship between yields and earnings multiples has started to differ from its historic pattern only in the last six years. In other words, until the end of 2013, there was a much more discernible correlation, with an R-squared of 0.38. But since the end of 2013, earnings multiples have been without exception higher than the previous relationship with interest rates would have suggested. In fact, they have never been further away. To be clear, this means that they now look unambiguously expensive, given where interest rates are, even though interest rates are so low:

According to Authers, we can learn two things from this chart:

  • One is that the relationship between rates and earnings multiples changed at some point early in the last decade in the U.S., presumably when investors got used to the notion of enduring “lower for longer” rates coupled with low inflation. One possibility is that this was due to the belief that the traditional relationship between rates and the economy had broken down, in other words the advent of central planning by banks broke one of the most fundamental valuation relationships.
  • The second is that whatever is driving multiples higher, it isn’t rates. As the chart shows clearly enough, rates have been on or about where they are now for nine months. Earnings have dipped and then recovered, and yet this is the most expensive that stocks have been.

In an attempt to find out what is driving multiples, Minack next turns to the FANG stocks, which he defines as the FAAANMs (for Facebook, Amazon.com, Apple, Alphabet, Netflix and Microsoft). The key finding is that their earnings have, until now, defied slow growth that defined the developed world during the post-crisis decade, and have even defied the slump that followed the Covid shock. The rest of the S&P 500, and indeed the rest of the world, did nothing remotely similar. The following stunning chart from Minack shows the internet platform groups’ earnings, rather than their share prices.

Of course, soaring earnings also mean soaring stock prices (especially when one applies record PE multiples), and on Friday the NYSE Fang+ index hit a new all-time high. As Authers shows, over the last five years, its performance has dwarfed that of the S&P 500, and the MSCI all-world index. While smaller stocks are beginning to make a relative comeback, the FANGs’ share prices are as high as they have ever been in absolute terms.

Putting it together, while much of the world has seen corporate earnings behave just as one would expect in a world of very low interest rates (i.e., in a very sluggish economy), a tiny group of U.S. companies have managed to defy that logic completely and seen their earnings explode, dragging the US stock market higher while leaving the 494 remaining S&P companies in the dust. And now, amid growing expectations of a post-vaccine boom, earnings estimates are rising even more. That leads stocks to trade at a higher multiple of past earnings. In other words, as Authers notes, “it is earnings expectations, not rates, that have brought the market up in the last month or so, on this logic, and it would be an earnings disappointment (presumably sparked by some disappointment with distribution of the vaccine) that would bring it down again.”

As Minack summarizes:

In short, the US has been exceptional – relative to both its own history and other markets – by re-rating in the low-rate post-GFC cycle. The reason global equities are re-rating now is because of improving growth expectations, not because rates are low. If the rally were to correct – and I think it’s getting frothy – then the catalyst will be a growth scare, not a rate scare. Having said that, it’s a terrific combination for equities if growth does improve as expected next year and rates stay low. That combination would be more beneficial for de-rated non-US markets than the re-rated US market.

Indeed, anywhere one turns, one can find banks pushing the argument for favoring non-U.S. equities over the U.S. – JPMorgan did that just this week, when it downgraded US stocks and upgraded Europe.

That said, even in a world where record low rates did not justify the record high in stocks, and as we have repeatedly cautioned the last thing markets want is to find out what will happen if rates do surprise by rising, especially if they spike higher in an uncontrolled manner similar to what happened during the 2013 taper tantrum when 10Y yields soared by 150bps in months. As Authers notes, “U.S. markets have been working on the assumption that they will stay low for a while. It has been an unspoken ceteris paribus clause” and for good reason: “The sharp corrections in response to slightly higher rates in 2013 and 2018 both forced central banks into climbdowns.”

This is also the worst case conceived by Morgan Stanley’s Michael Wilson who last week said that “with our economists forecasting 7.5% nominal US GDP growth next year, a 1% 10-year Treasury bond looks awfully mispriced on a 12-month view. This has implications for equity valuations, especially longer-duration ones like the Nasdaq and S&P 500.”

Conversely, shorter-duration cyclical and value stocks get a boost from better growth and higher interest rates – hence the rotation we have been witnessing in the equity markets from the Nasdaq to the small-cap Russell 2000 over the past few months as markets contemplate a full reopening of the economy. “We think this rotation has further to go if we are right about the economy and rates” according to Wilson.

Of course, the question is just how high will rates eventually go in a world where the recent record injection of M2 would suggest it is just a matter of time before we experience a record inflationary spike:

As Authers ominously concludes, “we don’t yet know the results of an experiment in which rates rise and central banks cannot climb down because the economy is growing and inflation is back” but we may very soon have to find out.



Source: Zero Hedge, No, Low Rates Do Not Lead To Higher Earnings Multiples: What That Means For Markets