2017 DNC Chairman, “Sexual Misconduct? Then Step Aside.” …2020 Never Mind!

What Are the Libs Up to Now?

Democratic National Committee (DNC) Chairman Tom Perez said in December 2017 that any candidate or elected official “who has engaged in sexual misconduct” should “step aside.”

Former Vice President Joe Biden, the presumptive Democratic presidential nominee, now stands accused of sexual assault by his former Senate staffer, Tara Reade.

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One of Reade’s former neighbors, a Biden supporter, corroborated key details of Reade’s account in an interview published Monday. Reade’s mother also appeared to reference Reade’s allegations while calling into “Larry King Live” in 1993.

Perez laid down his standard while calling on Democratic Minnesota Sen. Al Franken to resign in December 2017 following repeated groping allegations against the senator.

“The Democratic Party will stand up for women and for what is right. Public service is a public trust. If you are a candidate for office or an elected official who has engaged in sexual misconduct, you should step aside – whether you sit in the U.S. House of Representatives, the U.S. Senate, or the Oval Office,” the DNC chair said in a statement at the time.

“I’m sorry that I’m politically inconvenient but my perpetrator was Joe Biden. And people need to deal with it,” she told the DCNF. 

“Joe Biden is like a wolf in sheep’s clothing,” Reade added. “He’s championing supposedly women’s rights but in his personal life that is not the way he’s conducted himself.”

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The Trump Agenda

The Trump administration issued new sanctions to disrupt a weapons smuggling operation run by Iran’s Islamic Revolutionary Guard Corps (IRGC), the country’s elite military group.

The sanctions are part of the latest effort by the Trump administration to “enforce and expand” its maximum pressure campaign on Iran, as the Washington Free Beacon reported earlier this week. More sanctions are likely to be issued as the administration works at the United Nations to ensure an embargo on Iran’s purchase of advanced military equipment is not lifted later this year.

“The Iranian regime and its supporters continue to prioritize the funding of international terrorist organizations over the health and well-being of the Iranian people,” Treasury Secretary Steven Mnuchin said in a statement. “The United States remains committed to working with financial institutions, non-profit organizations, and international partners to facilitate humanitarian trade and assistance to the Iranian people.”

The Trump administration issued similar sanctions in late 2019 on an Iranian shipping network that smuggled “lethal aid from Iran to Yemen” on behalf of the IRGC. Earlier this year, the administration designated 20 Iran- and Iraq-based companies for their work with the IRGC.

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Market Intel

Gold futures are talking a hit at the mid-session on Wednesday, pressured by a stronger U.S. Dollar and expectations that gold supplies will grow as bullion refineries resume operations, and on a gradual improvement in investor risk appetite as countries have begun to ease coronavirus restrictions.

Prices opened steady but fell after two of the world’s biggest gold refiners said they are restoring almost all operations. This ended six weeks of closures that disrupted global gold supply and helped drive prices in New York and London further apart than they have been in decades.

At 17:02 GMT, June Comex gold futures are trading $1688.30, down 25.80 or -1.62%.

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart. A trade through $1676.00 will signal a resumption of the downtrend. A move through the last swing bottom at $1666.20 will reaffirm the downtrend.

The main trend will change to up on a trade through $1737.00. This is followed by the next swing top at $1764.20.

The short-term range is $1788.80 to $1666.20. Its 50% level at $1727.50 is resistance.

The intermediate range is $1576.00 to $1788.80. Its retracement zone at $1682.40 to $1657.30 is support. This zone stopped sellers at $1666.20 on April 21 and $1676.00 on May 1.

The main range is $1453.00 to $1788.80. Its retracement zone at $1620.90 to $1581.30 is major support.

Daily Swing Chart Technical Forecast

Based on the early price action and the current price at $1688.30, the direction of the June Comex gold futures market into the close on Wednesday is likely to be determined by trader reaction to the 50% level at $1682.40.

Bearish Scenario

A sustained move under $1682.40 will indicate the presence of sellers. This could trigger a quick break into the minor bottom at $1676.00, followed by the main bottom at $1666.20 and the Fibonacci level at $1657.30.

Bullish Scenario

A sustained move over $1682.40 will signal the presence of counter-trend buyers. If the buying generates enough upside momentum then look for a possible test of the wall of resistance at $1726.00, $1727.50 and $1737.00.

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In Other News

The COVID-19 pandemic has forced millions of Americans to work from home. But when it’s all over, many people are thinking that trip from the kitchen to the living room may not be such a bad commute.

States of Play, a joint CNBC/Change Research survey of swing states, finds 42% of respondents nationwide saying they are working from home – a huge jump from only 9% who say they worked completely from home before the pandemic. Some 14% say they are working from home more than before, while 19% are working from home for the first time.

A 58% majority report they are still working outside the home.

Once the economy reopens, 24% say they’d like to work either entirely or more from home compared to how they worked before, while 55% plan to head back to the office and 20% are not sure.

An increase of hundreds of thousands, or even millions, of people who shift to remote work would have major repercussions across the broader economy. For example, if businesses decided to save money by renting or buying less commercial office space as a larger percentage of their employees work from home, that could translate into hundreds of millions of dollars in losses for builders and developers.

The data also shows a major gap between income levels in the ability to work from home. Of people making under $50,000 a year, just 24% work at home. In the middle range, from $50,000 to $100,000, the number jumps to 36%, and for those making $100,000 or more, 46% are able to work from home.

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