Gold World News Flash |
- Gold ownership as a lifestyle decision
- Elizabeth Warren: The 14 Trillion Dollar Scam and the Unfinished Business of Financial Reform
- The Chinese Government is “Losing Control”: Stocks Are Collapsing, Hitting New Bear Market Lows
- This Recession Is Really A Depression -- Ron Paul
- Chinese Government "Losing Control": Stocks Are Collapsing, Hitting New Bear Market Lows
- Price of Gold Today Lost Another $6.00 Closing Comex at $1,163.00
- NSA Leak Reveals Both Merkel And Schauble Saw Greek Debt As Unsustainable Even After Haircut
- Shale Drillers About To Be "Zero Hedged" As Loss Protection Expires
- How Greece Can Defeat The Banksters
- JPMorgan Banker: "We Can't Make Money Anymore..."
- John Stossel - Pharmaphobia
- What If You Had An Italian Bank Account? Or A Portuguese Bond?
- Gold Bullion: Useless in Greek Crisis?
- Vaccines Kill -- Marijuana Cures
- Gold Daily and Silver Weekly Charts - Need Little, Want Less, Love More
- Urgent: Greek crisis to crash U.S. stock market?
- Alasdair Macleod: Greece's referendum
- Brazil's antitrust agency investigates banks for interest rate manipulation
- This is how Profit Driven Corporations Run The FDA
- BREAKING : Shooting Washinton DC Navy Yard
- Greece Drama Turns To a Jobs Jamboree Day
- HUI Gold Stocks Most Destructive Bear Market in History
- Bron Suchecki: OCC gold derivatives chart wasn't wrong, just confusing
- Guaranteed US Dollar Death Dynamics
- Adrian Day's Embarrassment of Riches: Gold Companies Cheap to Buy but Not for Long
- Adrian Day's Embarrassment of Riches: Gold Companies Cheap to Buy but Not for Long
- Is Gold Really Manipulated? Or, Are You Being Manipulated?
| Gold ownership as a lifestyle decision Posted: 03 Jul 2015 12:00 AM PDT USA Gold | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Elizabeth Warren: The 14 Trillion Dollar Scam and the Unfinished Business of Financial Reform Posted: 02 Jul 2015 08:01 PM PDT | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Chinese Government is “Losing Control”: Stocks Are Collapsing, Hitting New Bear Market Lows Posted: 02 Jul 2015 08:00 PM PDT from Zero Hedge:
As one local reporter put it, despite being told not to say anything negative, “the government appeared to have lost its ability to manage the market.” Chinese stocks are down 4-5% at the open, pressing new cycle lows with Shenzhen and CHINEXT now down 25% from last week. As The South China Morning Post reports, many investors said the government was at least partly to blame for the collapse because it encouraged them to go into the market – for months, state-owned media have issued daily commentaries to encourage people to load up on shares. And now the payback: even more utter carnage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| This Recession Is Really A Depression -- Ron Paul Posted: 02 Jul 2015 07:30 PM PDT Alex Jones talks with former Congressman Ron Paul who breaks down how the United States isn't in a recession, but a depression. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers ,... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chinese Government "Losing Control": Stocks Are Collapsing, Hitting New Bear Market Lows Posted: 02 Jul 2015 07:02 PM PDT As one local reporter put it, despite being told not to say anything negative, "the government appeared to have lost its ability to manage the market." Chinese stocks are down 4-5% at the open, pressing new cycle lows with Shenzhen and CHINEXT now down 25% from last week. As The South China Morning Post reports, many investors said the government was at least partly to blame for the collapse because it encouraged them to go into the market - for months, state-owned media have issued daily commentaries to encourage people to load up on shares. And now the payback: even more utter carnage:
The longer-term perspective:
Leading to the local version of "brokers with hands on their faces":
As The South China Morning Post explains, a series of lifelines from Beijing failed to stop the slide in the mainland's stock market on Thursday, with the key Shanghai Composite Index closing below the critical 4,000 mark for the first time in almost three months.
And considering the HSBC Service PMI just plunged from 53.5 to 51.8, the lowest print of the year, that may be complicated especially if the government is truly helpless to halt the crashing stock market, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Price of Gold Today Lost Another $6.00 Closing Comex at $1,163.00 Posted: 02 Jul 2015 05:53 PM PDT
NO use pretending: nothing's happening. Sellers tried to drive the PRICE OF GOLD down today about 9:30 but failed. Dropped as low as $1,155.80. Although it didn't stay down there, that's a new intraday low for the move and a bad sign. May see a spike low next week. Be locked and loaded for it. SILVER keeps hanging on around $15.44/$15.50. More times it tests that line, more likely it is to fall through. GOLD/SILVER RATIO fell today to 74.854:1 from yesterday's 75.148. Nothing significant yet, nothing proved, but it appears to have turned around. We are now dead into the window for silver and gold price seasonal low. We ought to see that by the end of next week. I reckon this commentary dissatisfies in numerous ways, but don't y'all shoot me. Markets are hanging fire, scared to do anything because no one knows which way the Greek fiasco will fall out. Add to that my suspicion -- only my base suspicion, mind you -- that the Nice Government Men have every reason during this crisis to make sure no stampede into the dollar or gold materializes. Before I address markets, there's an article y'all need to read: "An Inadvertent Warning from BlackRock -- Get Your Money Out of Mutual Funds ASAP." You'll find it here on ZeroHedge.com, http://bit.ly/1HzNw8T In brief, Larry Fink, CEO of BlackRock (world's largest asset manager), has filed with the SEC seeking permission to allow some of BlackRock's funds to lend to others in the event of a "dysfunctional market." Ask yourself this question: Why do people build fire escapes? Because they fear -- maybe expect -- a fire. All this screams that Fink is expecting (1) a financial crisis and (2) an ensuing run on mutual funds, or if not "expecting," then "preparing for." Be advised, Mushrooms, that Wall Street and all its tentacles down to the Fed on the Potomac view you only as a cow to be milked. If you are crushed in a stampede, so what? Therefore, you and only you can protect yourself. And to pile yet another metaphor on those I have already heaped up, there's only one way to stay out of a bar fight: leave the bar before the fight starts. When stocks begin coming down, sometime between now and say, end-September, they will lose 20% in the first cascade. That will only mark the beginning. When the stock bubble bursts, the bond bubble will burst, too, so there's not much safety in that direction. Best way to protect yourself would be to roll stock profits into silver or gold now, while they are low, but if that stinks too much of "radical" to you, at least protect yourself by getting out of stocks and mutual funds and into cash. But what do I know? I ain't no mor'n a barefut, rag-britches, nat'ral born durned fool from Tennessee. ON TO MARKETS! All heads are low, peeking out above the trenches, waiting to see what will happen now that Greece has officially defaulted. So far, nothing much has happened, but Greece will hold a referendum to see whether they will accede to the Eurocrats terms or not. They'd be better off if their government would simply default on ALL the debt, walk away, and begin minting silver and gold coins. In two years, Greece's economy would be the envy of the world. But, sigh, the fascism has struck its roots too deep, so all those hoping to keep on feeding off the state will keep on hoping, and voting, until all hits the wall. Let's get upbeat here: How 'bout them stocks, huh? Dow Industrials lost only 27.8 (0.16%) today and ended at 17,730.11. 'Tis itching to bust through that 200 DMA (17,687). Will get scratched soon.
S&P500 shaved off 0.64 (0.03%) to 2,076.78. Nobody wants to trade much or carry big positions home over a holiday weekend. Dow in Gold ended the week at G$314.62 gold dollars (15.22 troy oz). Came near to breaking down on Monday, but pulled up again. Only a matter of time till it falls through that 200 DMA at G$303.88 (14.70 tr oz). See chart on the right. Dow in silver rose a little for the week, but dropped 0.99% today. Closed at $1,464.79 silver dollars (1,132.1 oz). Gonna drive you crazy waiting for it, but is rolling over toward earth's core.
Y'all enjoy your 4th of July holiday. Durned if I know what it's about any more. I used to think it was about honoring people who "dared to defend their rights" and would fight to the death for their liberty. I don't understand what liberty means today, unless it's freedom to maximize self-indulgence and the rest of the world be damned. I thought the beginning of liberty was self-control, durned outdated fool that I am. But I'm not the least downcast, because truth always vindicates itself. I learned that from one of the greatest men North America ever produced, even though the cultural fascists are trying to make him an unperson now. I mean President Jefferson Davis, who said, "The principle for which we contend is bound to reassert itself, though it may be at another time, and in another form." I'm waiting for another time. Y'all enjoy your weekend. Aurum et argentum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2015, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSA Leak Reveals Both Merkel And Schauble Saw Greek Debt As Unsustainable Even After Haircut Posted: 02 Jul 2015 05:44 PM PDT Several days ago, we posted a NSA cable leaked by Wikileaks, in which then French finance minister Moscovici (currently a European commissioner) was admitted that the French economic situation was "worse than anyone [could] imagine and drastic measures [would] have to be taken in the next two years." It has not improved since then. Overnight, in another perhaps even more relevant to the current quagmire in Greece leak, Wikileaks has released another intercepted NSA communication between German Chancellor Angela Merkel and her personal assistant reveals that not only Merkel, but Schauble, were well aware that even with a debt haircut (which took place in 2012 but only for private creditors and whose impact was promptly countered with the debt from the second bailout) Greek debt would be unsustainable. Technically, she did not use that word: she said that "Athens would be unable to overcome its problems even with an additional haircut, since it would not be able to handle the remaining debt." She was right. And yet here she is, telling Tsipras and the Greek people that all Greece needs is to comply with the existing program when she knows well by her own admission that Greece is insolvent in its current state - precisely what Syriza is arguing and demanding be part of any deal. Because why bother making a deal if Greece will once again be in default a few months down the line, just as Varoufakis said earlier today. But where it gets really humorous is where the cable notes that even "Finance Minister Wolfgang Schaeuble alone continued to strongly back another haircut, despite Merkel's efforts to rein him in... with IMF Managing Director Christine Lagarde described as undecided on the issue." Fast forward to today and now Lagarde is decided, and the IMF admits a 30% Greek haircut is necessary. So, one wonders, why is Syriza getting hell for pushing what both Germany in 2011 and the IMF now admit has to happen in order to have a viable Greek nation. Unless, of course, they don't want a viable Greek nation, and instead want a vassal state that is constantly on the brink of collapse and thus creating enough systemic risk to constantly push the EUR lower. Becuase, just in case anyone has forgotten, the real issue here is not the fate of Greece or even the rest of the PIIGS, but how can Germany continue enjoying a currency that is substantially weaker than what a far stronger, and export-crushing Deutsche Mark would be at this very moment. From Wikileaks:
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| Shale Drillers About To Be "Zero Hedged" As Loss Protection Expires Posted: 02 Jul 2015 05:40 PM PDT In many ways, the US shale industry is emblematic of why failing to normalize monetary policy after seven years of largesse can be extremely dangerous. As discussed at length in these pages and then subsequently everywhere else, access to cheap cash via capital markets allows otherwise insolvent producers to keep drilling even as prices collapse, creating what are effectively zombie companies (to use Matt King's words) on the way to delaying the Schumpeterian endgame and embedding an enormous amount of risk in HY credit by flooding the market with supply just as demand from investors (who are delirious from hunger after being starved of yield by the Fed) peaks and secondary market liquidity continues to dry up. This dynamic has served to create a supply glut in a number of industries and has suppressed commodity prices in a self-feeding deflationary loop. Thanks to SEC rules on how drillers are required to value their reserves, producers are effectively forced to overstate the value of their O&G businesses by nearly two-thirds, which can lead unsophisticated investors who don't bother to read the 10K fine print to believe that the businesses are healthier than they actually are. Furthermore, the next round of revolver raids for the industry isn't due until October, meaning investors may also believe the industry has easier access to liquidity than it actually does. As a reminder:
As if all of the above weren't enough, there's yet another reason why the shale default cascade has thus far been forestalled, giving many the impression that perhaps a "crude" awakening (pardon the terrible pun) has been averted: hedges. Here's Bloomberg with more on why some US shale drillers may soon be zero hedged (ahem):
In short, the last line of defense against terminal cash burn for the beleagured US shale complex is about to fall and when it does, it's going to take bank credit lines down with it. This means October is the expiration date for heavily indebted US drillers and perhaps for HY credit as well, because once the defaults begin in earnest and HY spreads start to blow out, the BTFD-ing retail crowd will head for the exits, triggering a very non-diversifiable, unidirectional flow for bond fund managers who will then be forced to hold their noses and dive into the ever-thinner secondary corporate credit market. It is precisely at that point when everyone's worst nightmares about shrinking dealer inventories and illiquid credit markets will suddenly be realized. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How Greece Can Defeat The Banksters Posted: 02 Jul 2015 05:30 PM PDT David Knight breaks down how the destruction of Greece was planned for years and what they could do to break free from the grip of the globalist banksters. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| JPMorgan Banker: "We Can't Make Money Anymore..." Posted: 02 Jul 2015 05:20 PM PDT Submitted by Simon Black via Sovereign Man blog, Yesterday over coffee, a friend of mine leaked the news that JP Morgan’s private banking division here in Singapore is going to start charging negative interest rates. I almost fell out of my chair. He’s a successful hedge fund manager and one of their best customers. So when he received the notice, he rang up his private banker and demanded to know why. Between ridiculously low interest rates (banks are closing loans here for 0.9% or lower) and the increasing costs of compliance, “we can’t make money anymore…” was the response. It certainly paints a clear picture of how screwed up the entire financial system is. Compliance is a major component in this. Bankers around the world are buried up to their eyeballs in paperwork and regulations now. They can’t make a move or approve a single transaction without first doing anti-money laundering, terrorist financing, and tax evasion due diligence. Imagine it like this: your banker rings you up tomorrow and says, “The government of China requires us to have all of our depositors fill out this paperwork. So I need you to send this form back to me ASAP…” You’d probably think it was a joke. Or at a minimum think, “Wait, what? I’m not Chinese. You’re not a Chinese bank. Who cares about some stupid Chinese regulation?” And you’d be right. Except that’s precisely what the United States is doing right now. All over the world, bankers are contacting their customers and forcing them to fill out paperwork to comply with idiotic US government regulations. Even when there’s no connection to the US. Here in Singapore, the bankers are completely miserable about it. They’re so angry for having to call customers and say, “Yes I know you’re in India, and I know we’re in Singapore, and I know you’ve been a customer for 10 years. But you still have to fill out this US government form or else we’ll close your account.” It’s ridiculous– all of this because the US government is bankrupt. A few years ago they passed the Foreign Account Tax Compliance Act (FATCA)– a major part of their crusade to stamp out tax evasion and bring in more tax revenue. FATCA is now in full force. Banks all over the world have been forced to enter into information sharing agreements with the IRS, meaning that they have to report on all of their customers and force them to fill out meaningless forms. Needless to say, this costs a lot of money. If you own a business, you can just imagine how frustrating and expensive it would be to have your employees toil away on senseless paperwork instead of… you know, doing real business. The US government tells us that all of these disclosure programs have brought in about $6.5 billion in tax revenue. Yet the costs of compliance are estimated to cost at least $8 billion, with some estimates over 10x higher. Now that’s a neat trick. Uncle Sam gets the money and passes off the costs to everyone else. And those who don’t comply with America’s rules are destroyed. The most blatant example of this was last year, when a French bank was fined $9 billion for doing business with countries that Uncle Sam didn’t like. Bear in mind, this was a French bank, not an American bank. They violated no French laws. Yet they had to pay the US government $9 billion for doing business with places like Cuba. (Ironically, Cuba is now BFFs with the United States, but it’s not like the bank is going to get a refund.) More recently, the US government destroyed an Andorran bank that was accused of weak anti-money laundering controls. And a few years ago they took down the oldest private bank in Switzerland. Every bank in the world has seen these incidents, and they’re scared. They could be next. And that’s why you can’t get a single financial transaction done anymore without first submitting a mountain of paperwork to prove that you’re not a terrorist. Or financing terrorists. Or laundering money. Or doing business with the Axis of Evil. Even outside of banking it has become utterly ridiculous.
So obviously they’re not going to waste their time. Which means there’s some business that could have been done, but won’t, simply because of the compliance costs. The US government has really screwed the world on this. Paperwork is the priority. Not business. And all because America is bankrupt. This trip to Singapore has been very eye-opening for me as I’m just now starting to understand how much people within the financial system despise the US government. They feel like they’re being forced at gunpoint to be volunteer spies and tax collectors, simply because US politicians have been financially irresponsible. And to me, it’s the biggest sign yet that America’s financial dominance is coming to an end. They’ve essentially engineered it themselves by alienating the whole world. The transition isn’t going to be smooth. And it won’t happen overnight. But there will come a time, and likely soon, when the United States gets displaced. And the rest of the world can hardly wait. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 02 Jul 2015 04:30 PM PDT John's brother, Dr. Tom Stossel, discusses his new book, "Pharmaphobia, How the Conflict of Interest Myth Undermines American Medical Innovation." The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What If You Had An Italian Bank Account? Or A Portuguese Bond? Posted: 02 Jul 2015 02:32 PM PDT Though it might yet drag on for weeks, months or even years, Greece’s drama can end in one of only two ways: Continued austerity which consigns its most vulnerable 50% to an endless “capital D” Depression, or some form of temporary dictatorship complete with capital controls and wealth confiscation — and a then “capital D” Depression. Either way, some of today’s Greek kids might grow up without ever holding a job in a legitimate business. For more details, see Greece’s hideous choice: More austerity or collapse. But Greece was never the main story. At best (worst?) it’s an illustration writ small of what’s really coming, as the eurozone’s bigger weak economies travel the same road. Italy, Spain, and Portugal will soon need (more accurately demand) a Greek-style bailout, though with a twist: There isn’t enough money available anywhere to bail out economies of that size sufficiently to allow them to remain in the common currency union NOR to manage the debt writedowns that would instantly hit the major European banks if those countries withdraw from the euro. So whatever Greece does, the real crisis is on its way. Here’s a good Zero Hedge analysis of what comes next. To understand this convergence of inevitable and imminent, put yourself in the shoes of an Italian with a local bank account. You’re seeing the footage of Greeks queuing up around the block only to be greeted with “No Money” signs when they finally reach the ATM. And you’re drawing the right conclusion: Get your money out of the local bank and under your mattress, into a tin can buried in the back yard, or into a Swiss franc account even at the cost of a negative interest rate. Later, when Italy has left the eurozone and returned to a much-devalued lira, those euros/francs will be worth twice as much as they are today. Or buy gold just in case Italy gets bailed out with a trillion newly-created euros, causing that currency’s value to plunge. Just don’t leave it in the local bank to be confiscated by the government. All it will take is a few tens of thousands of like-minded Italians, Spaniards and Portuguese to crash their local banking systems. But why would it be only that many? Why would anyone with money in those banks, even if they’re far more optimistic than our hypothetical Italian, not empty their accounts just to avoid the turmoil caused by the pessimists? And why would anyone lend money to those countries for five or ten years, which is what you do when you buy one of their bonds? That banks, governments and hedge funds around the world have gorged on eurozone debt while writing hundreds of trillions of dollars of derivative “insurance” on them is something historians will be scratching their heads over for decades. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Bullion: Useless in Greek Crisis? Posted: 02 Jul 2015 02:21 PM PDT Bullion Vault | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Vaccines Kill -- Marijuana Cures Posted: 02 Jul 2015 01:30 PM PDT Suzanne Posel: "Medical Community Vaccine-Injured My Son And Now I Have Him On CBD (Cannabidiol)" The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Daily and Silver Weekly Charts - Need Little, Want Less, Love More Posted: 02 Jul 2015 01:18 PM PDT | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Urgent: Greek crisis to crash U.S. stock market? Posted: 02 Jul 2015 11:45 AM PDT Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.But how did it... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Alasdair Macleod: Greece's referendum Posted: 02 Jul 2015 09:50 AM PDT By Alasdair Macleod This coming Sunday Greece will hold its referendum. The question to be asked is not, as the foreign press initially reported it, about leaving the euro. It is about accepting or rejecting the troika's bail-out terms. ... Unfortunately, in the minds of the Eurozone establishment, for which read Germany as the main creditor nation, a negotiated default cannot be permitted; it's the red line. Give in to Greece and you have Portugal, Italy, and perhaps Spain and eventually France demanding the same forgiveness. The Eurozone's banks, while reasonably free of Greek debt, are loaded up with sovereign debt issued by these nations and cannot take haircuts on it without going under. It would not only undermine the Eurozone, but it could trigger a global financial crisis as well. ... ... For the remainder of the commentary: https://www.goldmoney.com/research/analysis/greece-referendum?gmrefcode=... ADVERTISEMENT USAGold: Coins and bullion since 1973 USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business. Please call 1-800-869-5115x100 and ask for the trading desk, or visit: USAGold: Great prices, quick delivery -- all the time. Join GATA here: New Orleans Investment Conference http://noic2015.eventbrite.com/?aff=gata Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference: https://jeffersoncompanies.com/landing/2014-av-powell Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brazil's antitrust agency investigates banks for interest rate manipulation Posted: 02 Jul 2015 09:35 AM PDT By Jeffrey T. Lewis and Rogerio Jelmayer SAO PAULO, Brazil -- Brazil's antitrust agency is investigating banking giants HSBC Holdings PLC, Citigroup Inc., Deutsche Bank AG, and a long list of their peers on suspicion of forming a cartel to manipulate the exchange rate of the Brazilian currency, the real. The agency, known as CADE, said Thursday there are "strong indications" of the use of anticompetitive practices in the foreign-exchange market by the three big banks and a number of other U.S. and overseas lenders. CADE said there was evidence the banks worked together to fix the exchange rate, coordinate the buying and selling of currencies, and impede the operations of other banks operating in Brazil's foreign-exchange market, among other things. ... ... For the remainder of the report: http://www.wsj.com/articles/brazil-antitrust-agency-investigating-banks-... ADVERTISEMENT Direct Ownership and Storage of Precious Metals Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore. Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars. Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver. Goldbroker.com is listed among GATA's recommended monetary metals dealers: To invest or learn more, please visit: Join GATA here: New Orleans Investment Conference http://noic2015.eventbrite.com/?aff=gata Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference: https://jeffersoncompanies.com/landing/2014-av-powell Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| This is how Profit Driven Corporations Run The FDA Posted: 02 Jul 2015 08:32 AM PDT Anthony Gucciardi gives his take on the vaccine news and registered pharmacist and GCN radio host Ben Fuchs covers the latest on cholesterol, probiotics and mental health. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BREAKING : Shooting Washinton DC Navy Yard Posted: 02 Jul 2015 07:30 AM PDT Active shooter in Washington DC Navy Yard "Gunshots Heard" as the FBI and DHS and all other Police Department on the scene The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers ,... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Greece Drama Turns To a Jobs Jamboree Day Posted: 02 Jul 2015 06:50 AM PDT This post Greece Drama Turns To a Jobs Jamboree Day appeared first on Daily Reckoning. Today's Pfennig for your thoughts… Good day, and a tub thumpin’ Thursday to you! Well, once again this morning, the dollar has the conn, and it isn’t a pretty thing, unless you’re a dollar bug. The euro is up, but given where it had fallen to yesterday, “up” is all relative. Gold is down in price again, and the price of oil is also down again. So, there you have it all for you to take in this morning. There’s no news of any negotiations with Greece and the eurozone, there was another poll/survey taken on the Greek referendum, and this time the results of the poll were different, with those surveyed saying they would vote “yes” at 47% and “no” at 43%… Of course like I said yesterday, polls aren’t always the “end all” of how people will vote when it gets down to the actual vote. We did get a surprise from Sweden’s Riksbank this morning. The Riksbank decided to take their repo rate further into negative territory folks at -0.35%, and increased their QE with an additional amount of SEK 45 billion. Now, you may recall me telling you that I didn’t see the Riksbank doing anything at this meeting because they told us that inflation was their worry, and the inflation has ticked higher recently. So apparently, the Riksbank wasn’t just tracking inflation. I don’t like it when Central Banks tell you to watch something, and then they do the old statue of liberty play in football and end up running around the end with the ball. UGH! Central banks… they are my arch enemy these days, for they just don’t get it, and the problem is they have tons of economists and analysts working for them and they still do these Jedi Mind Tricks with monetary policy. OK, like I said yesterday, someone get me a sucker, I’m about to throw a temper tantrum! So, when a central bank pulls a rabbit out the hat, sorry wrong hat, HA! But when they do dolt things like this, their currency gets whacked, and that’s what’s happened to the Swedish krona overnight. And when the krona gets whacked like this, the Norwegian krone sells of in sympathy. It’s a two for the price of one, if you will. And down in New Zealand, it got really ugly folks. The latest auction for dairy prices came in at a negative -5.9%, the 8th consecutive auction where prices declined. Now, we’ve been over this many times in the past. Wool, lumber, and dairy are the 3 major exports of New Zealand, so when one of the three takes a hit like this, you can bet the N.Z. dollar/kiwi bears were all out roaming the picnic grounds and scaring the poor families that were trying to have a nice day in the park! And just like Sweden and Norway, you can usually bet that wen kiwi gets sold, the Aussie dollar (A$) sees selling drift across the Tasman. But today’s price action in the A$ isn’t just about sympathy with kiwi selling. The Aussie Trade Balance, that I talked to you about yesterday, saw an improvement in the deficit, but unfortunately, most of that improvement was due to weak imports that fell -4%, and that points to soft domestic demand, and that’s not a good thing. In the “mother country”, the U.K., yesterday I told you about the soft PMI (manufacturing) print, but this morning, we saw construction spending data that was quite strong from the U.K. So, things aren’t “all bad” in the U.K., just “most things”. Which means interest rates aren’t going anywhere, I don’t care what Bank of England Gov. Mark Carney, says! He’s proven to be just what I said he was, a central bank Gov. that promises rate hikes, and never delivers them. The Swiss National Bank (SNB) is probably smiling like the cheshire cat this morning, as the franc has dropped 2-full cents this week. And again, with all that’s going on in the world, one would think the franc, and its safe haven status, would be cooking with gas this week. I haven’t heard of any intervention by the SNB, but I wouldn’t rule that out, as the drop has been swift, which normally indicates central bank selling. The Chinese renminbi reversed the appreciation it saw the previous night, and weakened last night. I have to say for the first time since I’ve been following the Chinese renminbi, that I am growing disappointed with the Chinese authorities over how the renminbi is being handled. But I’m certain that the Chinese leaders aren’t losing any sleep over that! HA! The currency wars are going on all over, and two places we didn’t have to worry about (in the past) were the eurozone and China, where their leaders promised not to join the currency wars. But that’s all water under the bridge now folks. Well, the U.S. data cupboard was kind to the dollar yesterday. the ADP Employment Change, which as I’ve told you previously, is supposed to be an indicator of what the Jobs Jamboree will have for us, was stronger than expected with 237,000 jobs created according to ADP in June, when only 218,000 were expected. The ISM Manufacturing Index printed at 53.6, when it was expected to print at 53.4, so a slight improvement, over expectations and the previous month which was also 53.4. I guess the so-called “experts” got caught up in the same reasoning I used yesterday, when I told you that the regional manufacturing indexes had all printed weak, so therefore that should indicate that the National Index would be weak. But NOOOOOOOO! Forget all those regionals! And that’s what I’m going to do from now on! I don’t care about the Philly Fed, the Empire State and so on, they don’t mean a hill of beans! The Fed members must be feeling it right now. Feeling the pressure to hike rates. But, they know in their heart of hearts that something just isn’t right here, the economy is so uneven, and today, we’ll get a taste of that, when May Factory Orders print negative once again. In 7 of the last 8 months, this data has printed negative, with the only positive month of March of 2.2% printing. So, there you are! Yesterday’s data, and today’s data all rolled into this discussion. Who else out there in “writer-land” does that for you? And I’ve gone this far today, and have not mentioned what today is all about for the markets. The BLS Jobs Jamboree, which will print on our tub thumpin’ Thursday this month instead of tomorrow, because, well, the powers that be, don’t think there will be anyone around tomorrow. I know I just told you that the ADP report was stronger than expected, but I don’t think that will spill over to the BLS Jobs report. Now, a couple of months ago, I told you that I was finished with the BLS Jobs report, that I just didn’t think it reflected the real picture of the labor sector in the U.S. The BLS report has so many hedonic adjustments, that I just grew tired of dealing with it. But it’s those adjustments that might make today’s report look somewhat strange. So, let me set this up. The so-called experts have forecast a rise of 233,000 jobs in June, and the ADP report reported 237,000 jobs in June. But, I’m going to go out on a limb here and say that this month’s report could print below 200,000. And the lower number would all be tied to “seasonal adjustments”. What will the markets do with a print that misses expectations on the downside? Who knows? The way things are going right now, all signs point to dollar strength, and it wouldn’t surprise me on iota to see someone say to not worry that the jobs creation will come back strong in July, and the dollar rally further. Gold still can’t find any wind for its sails, but that doesn’t mean investors are leaving in droves from the shiny metal. In fact, according to the U.S. Mint., sales of gold American Eagle coins jumped to 76,000 ounces in June, the highest since January and more than triple the 21,000 ounces sold in May. I found it very interesting that the gold exchange traded funds dropped 0.8% in June, falling for the 4th consecutive month. So, were people selling the paper and buying the physical? It sure looked like it, and it wasn’t just American Eagle gold coins. The American Eagle silver coins was sales surge to 4.84 million ounces in June vs. 2 million ounces sold in May. I could go into a real rant here about how when every investor decides to sell the paper trade and buy the physical the price manipulators would get smashed. But I’ve done that, been there and bought the t-shirt. It’s time to move on to something else before I begin to get a rash. Well, the announcement of EverBank World Markets’ new MarketSafe CD has been somewhat stealth-like. I don’t know what’s going on with this, but I did notice that our friends over at Agora Publishing put out two notices about the new 5-Year MarketSafe PowerMetals (sm) CD. It’s the first metals-based CD EverBank has issued since 2011. Well, I never really left you today, doesn’t that give you a warm and fuzzy? I wanted to thank Joe over at Agora Financial for jumping on this offering and getting the word out the door. Of course if this is not your cup-o-tea, then you don’t have to go check it out, but if it is, then here you go! That’s it for today. Let’s go make this a tub thumpin’ Thursday, eh? Regards, Chuck Butler P.S. The Daily Pfennig is first published everyday, right here. Editor's Note: Be sure to sign up for The Daily Reckoning — a free and entertaining look at the world of finance and politics. The articles you find here on our website are only a snippet of what you receive in The Daily Reckoning email edition. Click here now to sign up for FREE to see what you're missing. The post Greece Drama Turns To a Jobs Jamboree Day appeared first on Daily Reckoning. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| HUI Gold Stocks Most Destructive Bear Market in History Posted: 02 Jul 2015 06:21 AM PDT When this support zone breaks the bankruptcy phase will start in earnest. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bron Suchecki: OCC gold derivatives chart wasn't wrong, just confusing Posted: 02 Jul 2015 05:30 AM PDT 8:25a ET Thursday, July 2, 2015 Dear Friend of GATA and Gold: Perth Mint gold researcher Bron Suchecki writes today that he was mistaken this week when he wrote that the gold derivatives chart in the latest quarterly report by the U.S. Office of the Comptroller of the Currency was wrong and that Zero Hedge had misconstrued the situation with gold derivatives: http://www.gata.org/node/15501 The chart, Suchecki writes today, was just confusing and the OCC has agreed to clarify it. His analysis is headlined "Mea Culpa on OCC Derivatives" and it's posted at the Perth Mint's Internet site here: http://research.perthmint.com.au/2015/07/02/mea-culpa-on-occ-derivatives... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Silver Coins and Rounds with Employee Pricing and Free Shipping Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory. Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page. This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping. So go to -- -- and type "GATA" in the radio box at the top of the page. Join GATA here: New Orleans Investment Conference http://noic2015.eventbrite.com/?aff=gata Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference: https://jeffersoncompanies.com/landing/2014-av-powell Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Guaranteed US Dollar Death Dynamics Posted: 02 Jul 2015 04:13 AM PDT The USDollar is on a collision course with imminent death. It is utterly amazing that so many supposedly smart analysts and highly paid wealth managers cannot see the obvious path on which the USDollar treads, limps, and struts proudly, dangerously, and abusively, suspended by numerous false cables and tethers. The USDollar cannot be sustained in its current form or on its present course. The abuse of its management and stewardship will be told in history books (possibly with certain chapters scribed by the Jackass). The aggressive defense of the USDollar includes criminal activity on a widespread scale never witnessed before. It is a veritable global money war, not so much a global financial crisis. The system, centered upon the USDollar, is collapsing under its own insolvency and corrupt underpinnings amidst the din of war. The truth is almost nowhere to be seen. The USGovt is demanding that allies support the global currency reserve, even though doing so guarantees a financial structure collapse and an economic breakdown. The safe haven is Gold & Silver, in the form of bars & coins, kept secure outside all nations that speak English, and outside nations that are closely allied with the USFed and USDept Treasury which operate like a vast crime syndicate. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adrian Day's Embarrassment of Riches: Gold Companies Cheap to Buy but Not for Long Posted: 02 Jul 2015 01:00 AM PDT Fund Manager Adrian Day believes that the U.S. dollar is fundamentally overvalued and we can expect a devaluation at some point. This is good news for the price of gold. In this interview with The Gold Report, Day adds the even-better news for investors in gold equities is that so many good shares now sell for so little, and he discusses several companies that won't remain bargains for long. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adrian Day's Embarrassment of Riches: Gold Companies Cheap to Buy but Not for Long Posted: 02 Jul 2015 01:00 AM PDT Fund Manager Adrian Day believes that the U.S. dollar is fundamentally overvalued and we can expect a devaluation at some point. This is good news for the price of gold. In this interview with The... Visit the aureport.com for more information and for a free newsletter | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Is Gold Really Manipulated? Or, Are You Being Manipulated? Posted: 01 Jul 2015 05:00 PM PDT The most common complaint I now hear as to why many are fearful of investing in precious metals is that they feel they have been "manipulated to go down." While many investors have been scared into believing this... |
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