The theft reportedly included seven bottles from the French estate Domaine de la Romanee-Conti, widely considered “among the best, most expensive and rarest wines in the world,” according to the indictment. Solomon has a 1,000-bottle wine storage area in his Manhattan residence.

In all, Solomon’s former assistant, who was employed from 2008 to late 2016, when the theft was uncovered, stole hundreds of bottles, prosecutors said. The wines De-Meyer is accused of stealing and selling include bottles of DRC, a top Burgundy. The seven bottles of DRC that was stolen had previously purchased for $133,650, prosecutors said.

As Bloomberg adds, “the indictment doesn’t specify the vineyard, vintage or size of the bottles that Solomon’s assistant is accused of stealing. But standard bottles of the quality mentioned above go for about $20,000 apiece, placing them in the top tier of wines.”

The theft was discovered in 2016 and reported to law enforcement officials, who have been pursuing the matter and are better positioned to answer questions, said Andrew Williams, a spokesman for Goldman Sachs. Solomon fired De-Meyer in November 2016, after discovering some wine was missing, according to another person familiar with the case. De-Meyer left the country, delaying the investigation, the person said.

De-Meyer is accused of using an alias, “Mark Miller,” to sell bottles to a North Carolina-based wine dealer. De-Meyer’s regular duties included receiving wine shipped to Solomon’s Manhattan apartment and transporting them to his boss’s cellar in East Hampton, New York.

So what income does one need to have to be able to afford a multi-million wine collection? Here’s the answer:

Solomon receives a salary of $1.85 million and annual variable pay. The bank hasn’t publicly disclosed details of his full compensation package, but filings show he received an award of restricted stock worth about $10 million on Jan. 19. Harvey Schwartz, Goldman’s other co-president, received $20 million in compensation in fiscal 2016 when he served as chief financial officer.

De-Meyer is scheduled to appear Wednesday in federal court in Los Angeles, charged with interstate transportation of stolen property.

Yesterday’s ‘spike’ in VIX – to its highest since Dec 1st – is continuing this morning…

(note: this is highly unusual relative to the recent regime of instant reversion lower in vol)

But what is most unnerving for many is relative to European volatility, this is the highest since August 2015…

As U.S. stocks failed to hold a fresh record, VIX jumped 15% on Tuesday, while the VStoxx Index remained near a record low.

The last time US VIX was this high relative to European equity VIX was in August 2015 – when the S&P crashed 11% in 4 days after China’s surprise devaluation…

As Bloomberg notes, the balance of global fund managers indicating they are taking out protection against a near-term equity correction has dropped to the lowest level since 2013, according to a Bank of America Merrill Lynch survey released this week.

Confirming an earlier report by Breitbart, the Hill reports that the Republican National Committee has decided to reinstate its support of Alabama Senate candidate Roy Moore after initially cutting ties over allegations of sexual misconduct, following Trump’s official endorsement earlier on Monday of the Alabama Judge after weeks of silence. Breitbart first reported that the RNC had decided to step back into the race.

Trump endorsed Moore in a tweet that blasted out to millions of his followers as well as in a follow-up call aboard Air Force One, in which the president said, “Go get ’em, Roy.”

Democrats refusal to give even one vote for massive Tax Cuts is why we need Republican Roy Moore to win in Alabama. We need his vote on stopping crime, illegal immigration, Border Wall, Military, Pro Life, V.A., Judges 2nd Amendment and more. No to Jones, a Pelosi/Schumer Puppet!

— Donald J. Trump (@realDonaldTrump) December 4, 2017

Last month Trump told reporters that “[Moore] denies it. He totally denies it — that’s all I can say”, although he did not endorse the controversial candidate until today.

The abrupt reversal comes after RNC officials told The Associated Press last month that they would not support Moore even after Trump stood by him. Subsequently, the two GOP campaign groups cut ties with Moore in October, halting their financial and field support for his bid as a chorus of Republican lawmakers called on him to step aside. Their decision to break ties with Moore came after several women alleged that he made unwanted sexual advances while they were underaged minors and he was in his 30’s.

While the RNC – which is President Trump’s political arm – is backing Moore now, Breitbart notes that the National Republican Senatorial Committee (NRSC), which is controlled by Mitch McConnell, is still withholding support. McConnell has pushed for Moore’s ouster after spending more than $30 million in a failed effort to beat him in the GOP primary and runoff.

It remains to be seen if the NRSC will join President Trump in supporting the GOP nominee for the U.S. Senate in Alabama in the final week of the election. Voters head to the polls a week from Tuesday on Dec. 12.

While Moore’s odds of winning took a hit after the allegations first surfaced, his standing in the polls has risen over the past two weeks., and Moore now holds a solid five-point lead over Jones, according to the latest data from RealClearPolitics.

Trump initially supported Luther Strange, who was appointed by former Alabama Governor Robert Bentley to temporarily fill the senate seat previously held by now-Attorney General Jeff Sessions, in a primary race against Moore, who handily won thanks to backing from Steve Bannon. Moore is considered a hero among the evangelicals of Alabama for refusing the remove a statue of the ten commandments he had installed in the Alabama Supreme Court when he was chief justice. The Alabama Republican Party has stood by Moore, and while many Republicans in initially tried to distance themselves, their fervant opposition has since died down.

Late last week, China for the first time confirmed the deployment of its J-11B jet fighters to the heavily disputed South China Sea islands. Footage was released by Government-run China Central Television (CCTV) in the form of military propaganda directly challenging the United States and its allies in the disputed waters. The footage confirmed the aircraft are residing in various hangars on Yongxing island, a Chinese name for Woody Island, which is in the contested Paracel Island chain.

According to Global Times, “the presence of the bombers showcases China’s improving air and sea control in the South China Sea.” Breaking down the footage, there appears to be more than one J-11B aircraft participating in sophisticated nautical combat exercises around Yongxing island. At the end of the video, there is evidence that the creation of infrastructure to support the aircraft was built in the form of speciality hangars.

For some time, China has been hesitant to station its fighters on the island because of the harsh conditions. In solving these environmental issues, the Chinese military built “thermostabilized hangars which boost the jet fighters’ durability and resistance to the island’s humidity and high temperatures,” enabling longer deployment rounds said the report.

Yongxing island is mission critical to the Chinese air and sea superiority in the heavily disputed waters because of its 3-km-long airport.

In recent times, China has added near 3,200 acres of land on seven features (which includes rocky outcrops and reefs) over the past three years through its controversial nation building in the disputed waters. Despite the rich resources in the South China Sea, more than $3 trillion in trade pass through the area giving China a majority advantage of control. Complicating matters, the Philippines, Vietnam, Malaysia, Taiwan and Brunei also have overlapping claims.

The Center for Strategic and International Studies think tank warned earlier this year that the three man-made islands in the South China Sea allow China to deploy fighters and other various weapon systems to the area, thus inducing a more hostile region. All three islands can support about “24 fighter jets and four larger planes, including surveillance, transport, refueling or bomber aircraft,” said Japan Times.

Meanwhile, just north of the South China Sea– in the Sea of Japan, the United States has just kicked-off the “largest-ever” joint aerial drills with South Korea simulating war with North Korea. This drill was spur of the moment after Pyongyang launched its most advanced ICBM, one which experts warned, the range of the rocket can hit anywhere in the United States. Some 230 aircraft and up to 16,000 soldiers and airmen are taking part in the drill, which is on the biggest ever of its kind.

What is perhaps most troubling is that as war drums beat ever louder in the Eastern Hemisphere, with China deploying fighters to its contested South China Sea islands, while the US prepares for war against North Korea, most Americans obsess over the latest sexual harassment scandal.

On the heels of a weekend full of threats and promises from governments, bankers, and the mainstream media, Bitcoin was lambasted once again overnight, this time by The People’s Bank of China.

For a brief 6 months or so, China was the dominant region for Bitcoin in the world, but then – as capital flows accelerated – the government and central bank began to ‘crackdown’ on crypto, first by banning ICOs and then shutting down local exchanges. Volume disappeared…

Looking back at the crackdowns, QZ reports that Pan Gongsheng, a deputy governor of the People’s Bank of China, believes Beijing made the right decisions.

“If we had not shut down bitcoin exchanges and cracked down on ICOs several months ago, if China still accounted for more than 80% of the world’s bitcoin trading and ICO fundraising, everyone, what would happen today? Thinking of this question makes me scared.”

QZ further notes that Pan went on to share a recent column by economist Éric Pichet in the French newspaper La Tribune (link in French). In it, Pichet, a professor at the Kedge Business School in France, makes a familiar argument that bitcoin is a bubble waiting to burst, just like the tulip mania in the 1600s and the Internet bubble of 2000.

He predicts that bitcoin will die of a grand theft, a hack into the blockchain technology behind the cryptocurrency (which actually is unlikely), or a collective ban by global governments.

Pan cited lines from Pichet to wrap up his talk:

As Keynes has taught us, “the market can remain irrational longer than you can remain solvent.”

There is only one thing left to do: Sit by the river bank and see bitcoin’s body pass by one day.

But for now, while his comments could have taken the shine of overnight trading, Bitcoin is bid again this morning…

Special counsel Robert Mueller objected Monday to a tentative “agreed-upon bail package” reached with Paul Manafort last week, after the lobbyist was discovered to have ghost-written a draft of an op-ed with an associate in Russia allegedly tied to Russian intelligence, according to court filings. Prosecutors argued that Manafort’s collaboration with the “Russian intelligence” colleague – as recently as last week – would violate the sweeping gag-order issued last month by U.S. District Judge Amy Jackson.

“Even if the ghost-written op-ed were entirely accurate, fair and balanced, it would be violation of this court’s Nov. 8 order if it had been published,” prosecutors said. “The editorial clearly was undertaken to influence the public’s opinion of defendant Manafort, or else there would be no reason to seek its publication – much less for Manafort and his long-time associate to ghostwrite it in another’s name.”

Paul Manafort’s Bridgehampton Home

As part of the deal, Manafort agreed to pledge $11.65 million in real estate, including homes in Palm Beach Gardens, FL and the Hamptons which would be forfeited if trump’s former campaign manager were to flee. Manafort’s daughter Andrea also agreed to serve as surety in regards to a $3.7 million New York property she co-owns. In exchange, Manafort was seeking to be allowed to travel in Virginia, New York, Florida and Washington.

“Because Manafort has now taken actions that reflect an intention to violate or circumvent the court’s existing orders, at a time one would expect particularly scrupulous adherence, the government submits that the proposed bail package is insufficient reasonably to assure his appearance required,” wrote the prosecution, adding “Because bail is substantially about trust – in particular, whether the Court can trust that a defendant will abide by the combination of conditions designed to assure his appearance as required, and because the newly discovered facts cast doubt on Manafort’s willingness to comply with this Court’s Orders, Manafort’s proposed bail package does not provide the reasonable assurance required by the Bail Reform Act.”

Investigators also argued that if Judge Jackson decides to go ahead with Manafort’s bail arrangement which would free him from house arrest, he be required to wear a full-time GPS monitor and post additional assets for bail.

Manafort and his longtime aide, Rick Gates, were arraigned in late November on money laundering and other charges – including false statements and seven counts of failure to file reports of foreign bank and financial accounts in regards to the work on behalf of the Ukranian government, prior to working for the Trump campaign.

Manafort’s indictment left ripples throughout the Washington Lobbying scene, after it became known that Tony Podesta, brother of Hillary Clinton’s campaign manager John Podesta, was a central focus of Robert Mueller’s special counsel investigation into Russian influence in the US.

The Podesta Group was subpoenaed in late August along with four other public relations firms who worked with former Trump campaign manager Paul Manafort during a 2012-2014 lobbying effort for a pro-Ukraine think tank – the European Centre for a Modern Ukraine (ECMU) – tied to former Ukrainian president Viktor Yanukovych, who fled from Ukraine to Russia after he was unseated in a US-facilitated 2014 coup.

Two of the subpoenaed firms include Paul Manafort’s Mercury, LLC and the Podesta Group, founded by John and Tony Podesta and operated by the latter.

Manafort’s firm earned $17 million between 2012 – 2014 “consulting” for Yanukovych’s centrist, pro-Russia ‘Party of Regions.’ During the same period, Manafort oversaw a lobbying campaign for the pro-Russia “European Centre for a Modern Ukraine (ECMU)” a Brussels based think tank linked to Yanukovych which was pushing for Ukraine’s entry into the European Union.

The Podesta group, operating under Manafort, earned over $1.2 million as part of that effort.

In a statement to NBC, a spokesman for the Podesta Group said the firm “is cooperating fully with the Special Counsel’s office and has taken every possible step to provide documentation that confirms timely compliance. In all of our client engagements, the Podesta Group conducts due diligence and consults with appropriate legal experts to ensure compliance with disclosure regulations at all times — and we did so in this case.”

The European Centre for a Modern Ukraine was nothing more than a shell group used by Manafort and the Podesta group, according to a former Podesta Group executive who was interviewed “extensively” by Mueller’s investigation, who also said that Manafort and Podesta were peddling a “parade” of Russian influence” all over Washington D.C. through the ECMU, and that the Obama administration was Russia’s “central effort” in the arrangement.

However Judge Jackson rules on Manafort’s bail, it appears the multimillionaire D.C. lobbyist has no plans to sever hiw ties to influential Russians.

Content originally published at iBankCoin.com

36 year old e-commerce entrepreneur Yusuke Mitsumoto had an idea: “what if I pay people instantlyfor their used goods and then trustthem to give them to me?”

Crazy, right?

Mitsumoto launched an app in June to test the idea, quickly realizing that that people – surprise – went for the money, putting him on the hook for $3.2 million (360 million yen).

“after 16 hours, he was stunned to discover he was on the hook for 360 million yen ($3.2 million) and shut the service down.A day later, truckloads of clothes and electronics gadgets started to arrive, with his startup’s employees forming a bucket line to move packages into his company’s tiny office in Tokyo.” –Bloomberg

But then, to Mitsumoto’s surprise – people took the moneyand then brought their stuff as promised! At the end of the day, only 1 out of 10 second-hand-sellers didn’t deliver.

In August, Mitsumoto relaunched the service called Cash, as a new way to gather inventory for an online flea market. Total daily purchases are capped at 10 million yen – and must be comprised of items on a list including; smartphones, luxury apparel, watches, clothing, and other specific items on a list of several thousand.

Customers can also snap pictures of their items and shoot over a non-negotiable offer.

Via Bloomberg:

“It was a social experiment,” said Mitsumoto, who started selling goods on the web in 1996. He later launched Stores.jp, Japan’s version of Shopify, which he sold and then bought back. “Of course, I believed that good people would outnumber the bad, but the question was by how much. That’s not something you can find out without trying.”

Big business

The market for second-hand goods is strong in Japan, valued at over 1.6 trillion yen ($14 billion USD). Yahoo Japan Corp. operates the country’s largest online auction site, Mercari, which became the first Japanese startup to be valued over $1 billion.

So when Keishi Kameyama – one of Japan’s richest entrepreneurs and founder of DMM.com came along, Mitsumoto agreed to sell Cash to DMM for 7 billion yen ($62 million USD) and continue running the business.

“For people doing internet businesses in Japan, DMM is a scary presence,” Mitsumoto said. “You never know when they may launch their own business and become a tough rival. I figured it’s best to at least meet.”

Indeed, a week after the deal was announced, Mercari launched an identical offering. The move by Cash proved that there was a need for such a service, said Takeo Iyo, the vice president in charge of Mercari Now. –Bloomberg

So – what do you think, would a thrift shop app work outside of an honor-based society like Japan?

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Authored by Mac Slavo via SHTFplan.com,

Amid United Nations’ fears that genetic extinction technology could be used by militaries, a United States military agency has invested $100 million in the doomsday biological technology that can wipe out an entire species.

Scientists now have the knowledge and the tools they need to create and deliver Doomsday genes which can selectively target and exterminate an entire species. And to make matters worse, emails released under the Freedom of Information Act (FOIA), suggest that the United States’s uber-secretive Defense Advanced Research Projects Agency (DARPA) has become the world’s largest funder of this “gene drive” research and will heighten international tensions further ahead of a UN expert committee meeting in Montreal beginning on Tuesday.

The UN is debating a ban on this technology as several southern countries fear the application of using extinction technology. The use of genetic extinction technologies in bioweapons is the stuff of nightmares, but so far, known research is focused entirely on pest control and the elimination of diseases. The key word there being “known.”

UN diplomats confirmed that the new email release would worsen the “bad name” of gene drives in some circles. “Many countries [will] have concerns when this technology comes from DARPA, a US military science agency,” one said.

“You may be able to remove viruses or the entire mosquito population, but that may also have downstream ecological effects on species that depend on them. “

My main worry,” he added, “is that we do something irreversible to the environment, despite our good intentions, before we fully appreciate the way that this technology will work.”

Jim Thomas, a co-director of the ETC group which obtained the emails, said the US military’s influence in furthering this technology would strengthen the case for a moratorium.

“The dual-use nature of altering and eradicating entire populations is as much a threat to peace and food security as it is a threat to ecosystems,” he said. “Militarization of gene drive funding may even contravene the Enmod convention against hostile uses of environmental modification technologies.”

But while we are on the subject of UN bans, the sanctions they placed on North Korea are being willfully ignored by the rogue regime. It stands to reason that should a military seek the use of this technology, they will also defy the UN’s “authority.”

Todd Kuiken, who has worked with the GBIRd (genetic biocontrol) program, which receives $6.4 million from DARPA, said that the US military’s centrality to genetic technology funding meant that “researchers who depend on grants for their research may reorient their projects to fit the narrow aims of these military agencies,” which could include doomsday genetic weapons. Between 2008 and 2014, the US government spent about $820 million on synthetic biology. Since 2012, most of this has come from DARPA and other military agencies,Kuiken says.

DARPA believes that a sharp decrease in the costs of gene-editing toolkits has created a greater opportunity for hostile or rogue actors to experiment with the technology.

“This convergence of low cost and high availability means that applications for gene editing – both positive and negative – could arise from people or states operating outside of the traditional scientific community and international norms,” the official said.

“It is incumbent on DARPA to perform this research and develop technologies that can protect against accidental and intentional misuse.”

Interest in the technology among US army bureaus has shot up since a secret report by the elite Jason group of military scientists last year “received considerable attention among various agencies of the US government,” according to an email by Gerald Joyce, who co-chaired a Jason study group in June. A second Jason report was commissioned in 2017 assessing “potential threats this technology might pose in the hands of an adversary, technical obstacles that must be overcome to develop gene drive technology and employ it ‘in the wild’,” Joyce wrote.

The paper would not be publicly disclosed but “widely circulated within the US intelligence and broader national security community”, his email said.