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19 points · 13 hours ago

A financial audit is a very specific thing and it has to follow specified criteria such as standard accounting practices, for example the US GAAP:

This report does not follow such standards, and is not carried out by a known and reputable auditing firm. As such, it is not an audit in any way, shape, or form.

Also, the report flat out states that it is not an audit:

1) SS is not an accounting firm and did not perform the above review and confirmations using Generally
Accepted Accounting Principles.

2) The above confirmation of bank and tether balances should not be construed as the results of an audit and were not conducted in accordance with Generally Accepted Auditing Standards.

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I think there's three reasons why they don't want to do a formal audit:

  1. You're still seeing firms like NYSE/ICE try to figure out custody solutions for cryptocurrency. The big financial firms are still getting their feet planted in blockchain/cryptocurrency. I think it's very likely that PWC/KPMG/E&Y/Deloitte/Grant Thornton didn't think the price of a one-off audit outweighed the potential legal liability that comes with it.

  2. A formal audit from a top accounting firm would likely go back to the creation of Tether and track every dollar vs. USDT balance from then until the audit date. I'm willing to bet there's enough money now (and likely has been since fall of last year), but there could be gaps when USD balance was significantly less than USDT balance.

  3. If Tether wasn't able to contract a major accounting firm, they probably figured a law firm would be better than a small, unknown accounting firm. They would have been better off going with someone larger like Skadden Arps, Sullivan Cromwell or Wachtell Lipton, but instead they went with a smaller firm with a law enforcement/national security focus. I'd be interested to hear their reasoning on why they chose FSS.

"If you sleep with dogs, you're gonna wake up with fleas."

And dog syphilis.

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His personal Vietnam.

The GOP can’t honestly be surprised that a deterrent so inhumane that it makes people want to abandon a better future, doesn’t look good on CNN. What did they expect? The usual duplicity?

24 points · 1 day ago

Yeah, you aren't going to see a Cohen indictment until after all of the raid material issues are sorted out and then probably a month after that for time to process everything.

People need to understand this shit takes time even if you feel like it's really apparent. Those indictments don't write themselves and it takes a while to compile and layout the evidence in more than 280 characters.

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Manafort's trial in Virginia begins on July 24 and we will likely get a date for George Papadopoulos' sentencing between now and then. If Cohen hasn't flipped by mid-July, he'll probably be waiting to see how those are going (and the resulting media coverage) would be my guess.

Does anyone else think Mueller has been playing a true long game here and that Giulani just discovered it?

Here's a hypothetical: Last fall, Mueller sends a memo to Rosenstein saying he likely won't get to depose Trump under oath, which would demonstrate Trump's state of mind about ending the Flynn investigation, the Comey firing and other potential obstructions of justice. Since the SCO won't be able to determine the president's state of mind via interview, what if (and again, this would all be in the memo) he says he plans to tell the Trump legal team that the SCO will not pursue a subpoena/indictment of the president. This would allow the SCO to watch, in real-time, how the president messages to the American public while believing there are no consequences. It would actually allow them to form a reasonable judgment about Trump's state of mind. Then, after x amount of time (say 6-9 months or whenever the final request for an interview is shut down by Trump's legal team), the SCO would reveal that it doesn't abide by DOJ guidelines on not subpoening/indicting a sitting president, so it would either or both of those actions.

Tl;dr -- Could Mueller say he's not going to subpoena Trump, to reveal Trump's true mindset, then make public a memo to Rosenstein that his true intention was to gauge Trump's behavior and the SCO will push forward with a subpoena and/or indictment.

I don't want to edit my above comment, but there's a minor typo which I'd like to clarify:

so it would pursue either or both of those actions.

They are doing this for PR. To deter people from trying to come into the US or seek asylum (legally), and to create a bad situation which they blame on Democrats.

They really don't care about these kids or the families, since they've already dehumanized them and call them all criminals regardless of what they've done.

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It is clear that the administration's strategy is to deter future immigrants from coming to America by publicly demonstrating that they will be separated from their children. From a Trump tweet on 6/16/18:

Democrats can fix their forced family breakup at the Border by working with Republicans on new legislation, for a change! This is why we need more Republicans elected in November. Democrats are good at only three things, High Taxes, High Crime and Obstruction. Sad!

And yet, the administration is also trying to deny it. Here's Kirstjen Nielsen's tweet from 6/18/18:

We do not have a policy of separating families at the border. Period.

This, right here, is why Democrats really need to figure out messaging. They should be accusing the administration of creating an orphan crisis. They should be accusing the administration of violating state laws which protect children from endangerment. They should be be hammering the administration into a corner on these issues with questions like:

  1. If the strategy of separating parents from children isn't new and the immigration laws haven't changed for the past decade, then why did these numbers begin to spike 6 weeks ago?

  2. If this is a new strategy of existing laws, then why is the Secretary of Homeland Security denying it? What other existing laws are being enforced in new ways?

  3. The Secretary of Homeland Security continues to emphasize the children are being treated well. The Attorney General believes illegal immigrants will no longer be rewarded under the new zero-tolerance policy. If the entire thesis behind the strategy is to deter future immigrants, then either the parents/children are suffering or the strategy is pointless.

I'm still not convinced manafort will roll. He's more afraid of Russia than the US. The US has to play by the rules. Russia doesn't.

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I truly believe this is why Putin attempted to kill Skirpal and his daughter. He was sending a message to Manafort.

He can probably feel them and doesn't have to actually look behind himself. He's not alpha in jail.

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He can probably feel them

Quite the understatement.

Stop listening to them. Whether they're bots, trolls, or genuine dumbfuck Trump supporters it's not worth it.

Trump could literally personally invite every user there over so he could literally shit in their mouth and they'd hail it as a victory of some sort.

Ignore them.

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Why do we call them trolls? It makes them sound like a step above a high school bully, but something below a serial prankster. These people are a direct threat to U.S. national security. They are the front line in hybrid warfare where information and media (traditional, social and others) are being weaponized into propaganda by hostile, foreign nations. They are not trolls. They're cyber-infantry. Let's start calling them such.

Hopefully the Ambrosus team or the CEO will provide more details as to why he was confident in such a high projected bundles/day happening in 1-2 years. It has caused a good deal of speculation. Personally I agree with the statement that getting to 10k-50k/day in a year would be excellent progress.

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As the the guy who created the entire model, I fully support this. At some point, the management team will need to communicate why it's plausible for 1 million bundles per day. Seriously, that's $300m in monthly revenue and $3.65 billion in annual revenue. That's a HUGE figure to justify (think all of Netflix's revenue in 2012).

“Captured subreddit.”

I work with a couple different firms, I’d think they are all partners at that hourly rate so they are the firm.

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Can confirm, have worked with several top NY law firms. That being said, I think that $750 estimate might be high. If you’ve got a team of 2-3 partners charging in the $1,200+ range due to being the lead criminal defender or you’re a partner with an exotic background (e.g. they are a CPA in addition to a JD for the financial forensic stuff) and they’re being supported by a few senior associates and possibly 7-8 associates, it could be closer to $550/hour.

Just to give you an idea of how high some of these rates go, I remember hearing about an attorney who was a CFA, CPA and JDMBA and they billed north of $3,500/hour. Again, that’s usually super high end white shoe firm work like a Fortune 500 merger or Goldman Sachs is spinning off an international division, but still it can get quite pricey.

9 points · 7 days ago

You're correct in your understanding - it is called a debt covenant and if triggered the lender can demand immediate payment of the remaining debt. My issue with it is that the magnitude isn't nearly large enough to tank a company of that size.

It's like if they made the movie Armageddon about trying to stop an asteroid that was only a few meters wide. Yeah it might fuck up somebody's house if it lands on it but it won't bring about the end of the world.

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Glad someone else saw this. My background is finance as well. The idea of $3 billion in secret debt from the '80s is pretty ridiculous. It would mean every 10k and 10Q authorized would be considered fraud under Sarbanes–Oxley. The office building in NYC from the pilot, which they likely own, would probably fetch north of $1.5 billion in a sale.

Original Poster5 points · 7 days ago

Also here is masternode ROI calculator. Ofc numbers are not guaranteed but based on their statements of 1mil bundles per day in 12 months you can check different scenarios for yourself

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Wow, this is great. I had no idea this existed and I'm the author of the original model haha.

“They suggested that I had had a liaison with multiple women in Russia,” he added. “I found that to be rather ironic.”

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This is actually really interesting. I wonder if they're going this route so Avenatti will be forced to refute the accusation, then Trump will later attempt to "copy Avenatti's refutation playbook" and Trump will cry foul of double standard when his attempts to refute the accusation fail (due to it being fact based). The Russians are weaponizing our own media against us.

The next administration has to hammer them. Financially go after oligarch assets abroad, ban them from entering the U.S. and Western Europe, remove Russia from the U.N. Security Council and maybe even do something really off the wall like recognize the sovereignty of Chechnya.

8 points · 8 days ago

The next administration has to hammer them. Financially go after oligarch assets abroad, ban them from entering the U.S. and Western Europe

While you make excellent suggestions which I'm wholly in favour of, I'm fairly sure good old Uncle Sam doesn't control all the borders.

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This, of course, is where having allies is important. If Russian oligarchs (and their immediate loved ones) were banned from the U.S., U.K., France, Germany, Switzerland and Japan, that would send a very powerful message. Such a lockout should encompass everything from their visiting to banking to owning real estate to keeping their children out of boarding schools/colleges. They would flip on Putin within 24 months.

1.1k points · 8 days ago

The evidence includes thousands of documents involving U.S. residents not charged with crimes who prosecutors say were unwittingly recruited by Russian defendants and co-conspirators to engage in political activity in the U.S., prosecutors wrote.

I don't want this disclosed until Mueller says it's ready to be disclosed, but holy crap I can't wait to see who these U.S. residents are and what they were unwittingly doing.

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This is a really good move because it means the final report will be of interest to every American. How many people are going to be searching for their own name or the names of family/friends/neighbors/etc? My guess is a lot of people will. Hopefully they'll also read/glance at parts of the report, which would be an innovative way to burst the Fox News bubble.

Comment deleted9 days ago

Which is ironic because they say minorities have nothing to fear from law enforcement, are treated fairly by business, etc.

The EPA which was started by well known liberal Richard Nixon, of course. What was his party again?

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18 points · 10 days ago · edited 10 days ago

In fairness, that was part of the compromise he made in order to get the DEA.

Original Poster333 points · 12 days ago

There is no reason millennials should expect to work until they die. In a country that can think sensibly about its economic system, greater wealth and labor productivity should mean less work, earlier retirement, and generally more creature comforts of all kinds. The reason that's not happening here is that America's economic ideology and institutions have been rigged on behalf of the ultra-rich. With sensible, simple reforms, we could have both work for all who want it, and decent rest for the sick and elderly.

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In a country that can think sensibly

That’s quite the leap these days...

169 points · 12 days ago · edited 12 days ago

Two new criminal counts (#6,#7) added to the existing charges:
1. Conspiracy Against The United States
2. Conspiracy To Launder Money
3. Unregistered Agent Of A Foreign Principal
4. False And Misleading FARA Statements
5. False Statements
6. Obstruction Of Justice
7. Conspiracy To Obstruct Justice

Also worth noting, Mueller is pushing to use asset forfeiture. The grand jury has found probable cause that the following assets (real estate and financial accounts) owned by Paul Manafort are subject to forfeiture:
a. 377 Union Street, Brooklyn, NY 11231
b. 29 Howard Street #4D, New York, NY 10013
c. 1046 N. Edgewood Street, Arlington, VA 22201
d. 174 Jobs Lane, Water Mill, NY 11976
e. Northwestern Mutual Universal Life Insurance Policy
f. Funds held in an account with Charles A. Schwab & Co. Inc
g. Funds held in an account with The Federal Savings Bank

Mueller is not messing around.

Would forfeited assets be release in the event of a pardon?

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That is a really great question. I have no idea.

What happened to America First? Most agencies of the federal government are mandated to buy American made vehicles.

127 points · 13 days ago · edited 13 days ago

He said Thursday he had not received any reply to his request. Nunes' office declined to comment

So the HIC chairman is just ignoring the ranking member. That alone is grounds for removal from his position. Fucking Ryan.

Schiff should just do it unilaterally. The Republicans have already broken multiple protocols by going behind the backs of Democrats multiple times

“I think probably the reason why the Republicans decided to renege on their commitment is, the transcripts reveal among other things how often the majority acted as defense lawyers for the president rather than true investigators. And I think they’re embarrassed by that.”

They're not embarrassed. They're just cognizant to the fact it would be bad PR

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HIC Republicans concluded their case and make their final report public. Why are they still involved in any decision making? Shouldn't the Democrats just be able to operate unilaterally, then call the Republicans out when they interfere?

2.3k points · 13 days agoGilded1 · edited 13 days ago

Well I took the bullet for everyone. And now I’ll just leave this stillshot of Trump in a porn here, looking grosser, sweatier and more naked than you can ever be prepared for.

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Relevant username.

I’d sooner accept Judge Reinhold.

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I'd sooner accept Franklin saying: "My name is Judge..."

They thought two drunk chicks laying on ping pong tables were Hillary and Huma fueling up on infant blood or some shit.

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infant blood

Is that some energy drink I haven't heard of or do they actually believe Hilary is a vampire? Either one is just as likely.

Cake day
May 28, 2014

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