Gold World News Flash |
- Gold Silver UPDATE – IMF Warns of Slowdown, NIRPs
- John Dizard: Gold is overpriced -- and well worth it
- Canadians get their own silver market-rigging class action suit against Deutsche et al.
- Gold Survives – Fiat Paper Always Dies
- The Fed Sends A Frightening Letter To JPMorgan, Corporate Media Yawns
- One Man Asks Why Was Tritium Found At 9/11 Ground Zero
- Investigating Deutsche Bank’s €21 Trillion Derivative Casino In Wake Of Admission It Rigged Gold And Silver
- The New Bull Market in Gold Part I: Macroeconomic Backdrop with Jim Rickards
- This was the Week that Silver and Gold Prices Proved their Uptrend
- Why Silver Bullion Is Set To Soar – GoldCore Interview
- A Drone Flies Through A Rotting, Abandoned $17.5 Million Vancouver Mansion; This Is What It Saw
- Full Event: Donald Trump Holds Rally in Plattsburgh, NY (4-15-16)
- World War 3 NATO intercepts 4 groups of Russian Nuclear Bombers over Europe
- Fears Of Economic Crash As China Economy Slows
- Bank Meltdown 2016! Bail-Ins, Emergency Meetings, The Coming Collapse, And More!!!
- Four Profit Opportunities from the Secret “Shanghai Accord”
- Proof That “Experts” Are Dangerous Imbeciles
- Democrats And Republicans: The New Mafia
- Gold Stocks Double, To Double
- Putin's Secret Army!
- China Shows Signs of Momentum Building
- Gold Price Suppression, Paul Volcker and the Vatican Bank - Video
- Silver's Bearish Rally
- OBAMA to BRING TOTAL ECONOMIC COLLAPSE Before He Leaves Office?
- Benjamin Fulford : Federal Reserve Board and US dollar will be hit by financial Armageddon if Asian gold offer refused .
- How Do the Gold ETFs Really Work?
- Silver Up 5.6%; Gold Down 1% as Deutsche Bank Settles Gold and Silver Manipulation Suits
- How Do the Gold ETFs Really Work?
- Watch the Topping Dollar for Clues to Gold
- Gold Miners Arrived At Huge Resistance After An Incredible Rally
- SDR Does Not Stand for Secret Dollar Replacement
| Gold Silver UPDATE – IMF Warns of Slowdown, NIRPs Posted: 15 Apr 2016 10:00 PM PDT from Junius Maltby: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| John Dizard: Gold is overpriced -- and well worth it Posted: 15 Apr 2016 09:10 PM PDT By John Dizard http://www.ft.com/intl/cms/s/0/c9506cae-02ef-11e6-af1d-c47326021344.html Gold has been having one of its moments since the beginning of the year; the dollar price is up over 15 per cent, compared with 1.9 per cent for the S&P 500. At these levels, the metal is overpriced and well worth it. By "overpriced" I mean that market sentiment is measurably too bullish. Perhaps, though, Mr Market is on to something. In the olden days, when Deutsche Bank was a cornerstone of German stability, you could count on the dealers on its gold desk, along with their friends working for the other big banks, to step in and make sure that the market was liquid and continuous. ... Dispatch continues below ... 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. On Thursday, though, Deutsche sent a letter to a federal judge in New York agreeing to settle a lawsuit that accused it of conspiring with other big banks to manipulate the gold and silver markets. As part of the settlement, Deutsche agreed to provide "valuable monetary consideration to be paid into a settlement fund" as well as "co-operation in pursuing claims against the remaining defendants." Those defendants include Scotiabank, Barclays, HSBC, and Societe Générale. This cannot make it easy for the remaining members of the Old Boys Club to have a friendly conference call about reducing the magnitude of swings and roundabouts in the bullion price. Back in March of last year, the twice-daily, phone-based London gold fix was turned into a more compliance- and algorithm-friendly electronic system. At the same time, capital and cash liquidity requirements were forcing the global systemically important banks to reduce their commitments to high-volume, low-margin enterprises such as precious-metals trading. The combination of reduced transparency and the scarcity of dealer capital has, arguably, led to even lower bid/ask spreads and higher volatility. Also, the higher compliance burden seems to have driven more gold trading into the shadows. As one Swiss gold refiner I know puts it: "For the parallel markets [black markets], this is party time. The parallel markets are now faster and more flexible. This is very, very dangerous, because the liquidity for these markets comes from sources that are illegal. But I cannot take a small customer, such as somebody who is doing 15 to 20 kilos a week, because my compliance costs are too high." Think about that: a "small customer" who refines only $30 million of gold annually, and who is now gravitating to the "parallel market." Since after a couple of refining runs, at most, it is virtually impossible to tell the origin of one piece of gold from another, you get an idea of how much gold is moving from one compliance-unfriendly owner to another. Especially since the developed world's tax and banking systems are ever less open to bleaching soiled money. This hidden demand dynamic can explain part of the increased investor interest in gold. Also, one of the classic arguments against gold, its nonexistent yield, is rather less compelling in a negative rate world. Even so, while it would seem that the gold price is in a multiyear uptrend, many people like to be paid to wait, even if they are not paid much. That explains the increasing popularity of the gold "streaming" equities, which effectively pay dividends out of their income from secured lending to gold mining companies. Among the best managed of the gold streamers is Franco-Nevada, which has a dividend yield of about 1.25 per cent. This is not an undiscovered story. Since the start of the year, Franco-Nevada's stock has risen nearly 47 per cent. Franco-Nevada's chairman, Pierre Lassonde, spoke at the spring investor conference run by Jim Grant, the US writer, last week. Mr Lassonde made the case (or preached to the choir, if you will) about the opportunity clueless central bankers are handing to gold investors. "We think the ECB's negative interest rate policy has the potential to double the size of the gold-bar market in Europe," he said. That sounds rather expansive, but my Swiss refiner already sees it in his business. "Europeans are buying bars and coins as a personal hedge to protect themselves against the currency war." Recently, there seems to have been an undeclared truce declared among central-bank combatants in this undeclared war, but truces have a way of falling apart. Consider the possibility that one of the systemically significant banks should need a co-ordinated bailout due to its inability to control the risks of its derivatives book. Could this lead to even more heroic quantitative easing than we have seen so far? As Mr Grant says: "Radical policy begets more radical policy." Maybe gold is not overpriced enough. Support GATA 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 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: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Canadians get their own silver market-rigging class action suit against Deutsche et al. Posted: 15 Apr 2016 08:48 PM PDT Silver Price Manipulation Class Action Brought on Behalf of Canadian Investors Sotos Law Firm Press Release http://www.ottawacitizen.com/business/cnw/release.html?rkey=20160415C217... TORONTO -- A class-action lawsuit seeking $1 billion in damages on behalf of Canadian investors was launched today in the Ontario Superior Court of Justice. The class action alleges that the defendants, including The Bank of Nova Scotia, conspired to manipulate prices in the silver market under the guise of the benchmark fixing process, known as the London Silver Fixing, for a 15-year period. It is further alleged that the defendants manipulated the bid-ask spreads of silver market instruments throughout the trading day to enhance their profits at the expense of the class. This alleged conduct affected not only those investors who bought and sold physical silver, but also those who bought and sold silver-related financial instruments. ... Dispatch continues below ... 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: Law enforcement and regulatory authorities in the United States, Switzerland, and the United Kingdom have active investigations into the defendants' conduct in the precious metals market. The case is on behalf of all persons in Canada who, between January 1, 1999, and August 14, 2014, transacted in a silver market instrument either directly or indirectly, including investors who participated in an investment or equity fund, mutual fund, hedge fund, pension fund or any other investment vehicle that transacted in a silver market instrument. A copy of the Notice of Action can be found at sotosllp.com: http://www.sotosllp.com/wp-content/uploads/2016/04/Issued-Notice-of-Acti... Potential class members can register on the website to obtain more information as the case progresses. The plaintiffs and the proposed national class are being represented by a national team of lawyers from Sotos LLP (www.sotosllp.com), Koskie Minsky LLP (www.kmlaw.ca) and Camp Fiorante Matthews Mogerman (www.cfmlawyers.ca) with offices in Ontario and British Columbia. Support GATA 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 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: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Survives – Fiat Paper Always Dies Posted: 15 Apr 2016 08:20 PM PDT from Junius Maltby: Here we will quickly reiterate the timeless and nearly eternal values and roles gold plays as a unit of monetary exchange utilized by humans for thousands of years compared to the mere decade long survival rates of fiat paper currencies. Join the discussion and join the channel today! | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Fed Sends A Frightening Letter To JPMorgan, Corporate Media Yawns Posted: 15 Apr 2016 07:45 PM PDT Submitted by Pam Martens and Russ Martens via WallStreetOnParade.com, Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. The letter carried frightening passages and large blocks of redacted material in critical areas, instilling in any careful reader a sense of panic about the U.S. financial system. A rational observer of Wall Street’s serial hubris might have expected some key segments of this letter to make it into the business press. A mere eight years ago the United States experienced a complete meltdown of its financial system, leading to the worst economic collapse since the Great Depression. President Obama and regulators have been assuring us over these intervening eight years that things are under control as a result of the Dodd-Frank financial reform legislation. But according to the letter the Fed and FDIC issued on April 12 to JPMorgan Chase, the country’s largest bank with over $2 trillion in assets and $51 trillion in notional amounts of derivatives, things are decidedly not under control. At the top of page 11, the Federal regulators reveal that they have “identified a deficiency” in JPMorgan’s wind-down plan which if not properly addressed could “pose serious adverse effects to the financial stability of the United States.” Why didn’t JPMorgan’s Board of Directors or its legions of lawyers catch this? It’s important to parse the phrasing of that sentence. The Federal regulators didn’t say JPMorgan could pose a threat to its shareholders or Wall Street or the markets. It said the potential threat was to “the financial stability of the United States.” That statement should strike fear into even the likes of presidential candidate Hillary Clinton who has been tilting at the shadows in shadow banks while buying into the Paul Krugman nonsense that “Dodd-Frank Financial Reform Is Working” when it comes to the behemoth banks on Wall Street. How could one bank, even one as big and global as JPMorgan Chase, bring down the whole financial stability of the United States? Because, as the U.S. Treasury’s Office of Financial Research (OFR) has explained in detail and plotted in pictures (see below), five big banks in the U.S. have high contagion risk to each other. Which bank poses the highest contagion risk? JPMorgan Chase. The OFR study was authored by Meraj Allahrakha, Paul Glasserman, and H. Peyton Young, who found the following: “…the default of a bank with a higher connectivity index would have a greater impact on the rest of the banking system because its shortfall would spill over onto other financial institutions, creating a cascade that could lead to further defaults. High leverage, measured as the ratio of total assets to Tier 1 capital, tends to be associated with high financial connectivity and many of the largest institutions are high on both dimensions…The larger the bank, the greater the potential spillover if it defaults; the higher its leverage, the more prone it is to default under stress; and the greater its connectivity index, the greater is the share of the default that cascades onto the banking system. The product of these three factors provides an overall measure of the contagion risk that the bank poses for the financial system.” The Federal Reserve and FDIC are clearly fingering their worry beads over the issue of “liquidity” in the next Wall Street crisis. That obviously has something to do with the fact that the Fed has received scathing rebuke from the public for secretly funneling over $13 trillion in cumulative, below-market-rate loans, often at one-half percent or less, to the big U.S. and foreign banks during the 2007-2010 crisis. The two regulators released background documents yesterday as part of flunking the wind-down plans (living wills) of five major Wall Street banks. (In addition to JPMorgan Chase, plans were rejected at Wells Fargo, Bank of America, State Street and Bank of New York Mellon.) One paragraph in the Resolution Plan Assessment Framework and Firm Determinations (2016) used the word “liquidity” 11 times: “Firms must be able to reliably estimate and meet their liquidity needs prior to, and in, resolution. In this regard, firms must be able to track and measure their liquidity sources and uses at all material entities under normal and stressed conditions. They must also conduct liquidity stress tests that appropriately capture the effect of stresses and impediments to the movement of funds. Holding liquidity in a manner that allows the firm to quickly respond to demands from stakeholders and counterparties, including regulatory authorities in other jurisdictions and financial market utilities, is critical to the execution of the plan. Maintaining sufficient and appropriately positioned liquidity also allows the subsidiaries to continue to operate while the firm is being resolved. In assessing the firms’ plans with regard to liquidity, the agencies evaluated whether the companies were able to appropriately forecast the size and location of liquidity needed to execute their resolution plans and whether those forecasts were incorporated into the firms’ day-to-day liquidity decision making processes. The agencies also reviewed the current size and positioning of the firms’ liquidity resources to assess their adequacy relative to the estimated liquidity needed in resolution under the firm’s scenario and strategy. Further, the agencies evaluated whether the firms had linked their process for determining when to file for bankruptcy to the estimate of liquidity needed to execute their preferred resolution strategy.” Apparently, the Federal regulators believe JPMorgan Chase has a problem with the “location,” “size and positioning” of its liquidity under its current plan. The April 12 letter to JPMorgan Chase addressed that issue as follows: “JPMC does not have an appropriate model and process for estimating and maintaining sufficient liquidity at, or readily available to, material entities in resolution…JPMC’s liquidity profile is vulnerable to adverse actions by third parties.” The regulators expressed the further view that JPMorgan was placing too much “reliance on funds in foreign entities that may be subject to defensive ring-fencing during a time of financial stress.” The use of the term “ring-fencing” suggests that the regulators fear that foreign jurisdictions might lay claim to the liquidity to protect their own financial counterparty interests or investors. JPMorgan’s sprawling derivatives portfolio that encompasses $51 trillion notional amount as of December 31, 2015 is also causing angst at the Fed and FDIC. The regulators wanted more granular detail on what would happen if JPMorgan’s counterparties refused to continue doing business with it if rating agencies cut its credit ratings. The regulators asked for a “narrative describing at least one pathway” for winding down the derivatives portfolio, taking into account a number of factors, including “the costs and challenges of obtaining timely consents from counterparties and potential acquirers (step-in banks).” The regulators wanted to see the “losses and liquidity required to support the active wind-down” of the derivatives portfolio “incorporated into estimates of the firm’s resolution capital and liquidity execution needs.” According to the Office of the Comptroller of the Currency’s (OCC) derivatives report as of December 31, 2015, JPMorgan Chase is only centrally clearing 37 percent of its derivatives while a whopping 63 percent of its derivatives remain in over-the-counter contracts between itself and unnamed counterparties. The Dodd-Frank reform legislation had promised the public that derivatives would all become exchange traded or centrally cleared. Indeed, on March 7 President Obama falsely stated at a press conference that when it comes to derivatives “you have clearinghouses that account for the vast majority of trades taking place.” But the OCC has now released four separate reports for each quarter of 2015 showing just the opposite of what the President told the press and the public on March 7. In its most recent report the OCC, the regulator of national banks, states that “In the fourth quarter of 2015, 36.9 percent of the derivatives market was centrally cleared.” Equally disturbing, the most dangerous area of derivatives, the credit derivatives that blew up AIG and necessitated a $185 billion taxpayer bailout, remain predominately over the counter. According to the latest OCC report, only 16.8 percent of credit derivatives are being centrally cleared. At JPMorgan Chase, more than 80 percent of its credit derivatives are still over-the-counter.
 Wall Street Mega Banks Are Highly Interconnected: Stock Symbols Are as Follows: C=Citigroup; MS=Morgan Stanley; JPM=JPMorgan Chase; GS=Goldman Sachs; BAC=Bank of America; WFC=Wells Fargo.
Three of the five largest U.S. banks (JPMorgan Chase, Bank of America and Wells Fargo) have now had their wind-down plans rejected by the Federal agency insuring bank deposits (FDIC) and the Federal agency (Federal Reserve) that secretly sluiced $13 trillion in rollover loans to the insolvent or teetering banks in the last epic crisis that continues to cripple the country’s economic growth prospects. Maybe it’s time for the major newspapers of this country to start accurately reporting on the scale of today’s banking problem. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| One Man Asks Why Was Tritium Found At 9/11 Ground Zero Posted: 15 Apr 2016 07:30 PM PDT Authored by Shepard Ambellas via Intellihub.com, Although it’s now public knowledge that former Florida Sen. Bob Graham told the Tampa Bay Times that the secret 28 pages of the 9/11 Commission report are poised to be released within the next few months, one can only question what the White House’s new and urgent motive for their release is.One thing comes to mind, right off the bat, and that is the fact that strong evidence exists suggesting that up to three thermonuclear devices were detonated at the World Trade Center site on 9/11, hence the nickname “Ground Zero.”
I mean, what better way than to dupe the people yet once again by slowly conditioning them, over an extended period of time, to accept the fact that criminal factions of their very own government orchestrated the Pearl Harbor-like attack onto skyscrapers, buildings, in an American city. That’s right, when the not so secret 28 pages are actually released, in a few months, they will likely show Saudi involvement and government foreknowledge, like we already knew. So tell us something we didn’t know; like the fact that a Lawrence Livermore National Laboratory, Department of Energy, study found high trace levels of tritium inside the WTC complex after the attack. Not only were abnormal levels of tritium found inside the WTC complex, in the basement of “WTC 6” and the “storm sewer,” but they were also found in the water.
Study of Traces of Tritium “Tritium is an important component in nuclear weapons. It is used to enhance the efficiency and yield of fission bombs and the fission stages of hydrogen bombs in a process known as “boosting” as well as in external neutron initiators for such weapons,” according Wikipedia; meaning that the only way it would be present in high trace levels is if a nuclear device (or three) detonated within proximity. Additionally it’s important to note that tritium is “extremely rare on Earth” and again — should not be found in at levels reported to be ’55 times higher than normal.’ And just to be clear, I am not saying that micro nukes were solely responsible for bringing down the towers — and IMO were likely only used at the base of Towers 1 and 2 and possible the base of building 7 and were strategically placed 50 feet below street level, somewhere in the basements of the buildings or subway access tunnels. This would also explain numerous eyewitness reports of “large” explosions in the basement or “lobby” of the towers. It has also been proven that Nano-thermite was used and was present in dust samples, less than 2 microns in diameter, that were taken from the WTC site after the Sept. 11, 2001 attacks as pointed out early on by Richard Gage of the grassroots organization Architects & Engineers for 9/11 Truth. Moreover there are also signs that advanced barometric bomb technology, which uses triggering devices derived from the U.S. Nuclear Weapons Program, was also deployed in the attack — technology which incorporates gaseous elements in a “yellowish, brownish combustible mixture” and uses Aluminum Silicate Red Oxide and other ingredients” that would have surrounded and permeated the air around key structural columns on all floors before being triggered by a “specific high-voltage pattern” which the element combination is responsive to. One bomb specialist, who wanted to remain anonymous for obvious reasons, can be seen in the proceeding video, testifying to the existence of such technology and said:
This also explains why an eyewitness by the name of Kenneth Summers, who was in the lobby of tower 2 at the time, actually saw such a gas-like substance mixing with the air just a “tenth of a second” before the witness was blown back out the lobby doors. Kenneth Summers told NBC what he saw just before being eject from the lobby by a massive explosion and stated:
Summers testimony starts at 5:08 into the following video: Look, all I know is the actual impact from the alleged passenger planes did not cause the collapse of the WTC’s towers 1 and 2 that stood proud above the New York skyline, nor did the jet fuel fires or random fires burning throughout the buildings. In fact we can clearly see that this was not the case, because the tops of the buildings actually started to collapse first, dustifying themselves in mid-air as reported by Dr. Judy Wood who conducted an independent investigation. Micro-nukes exist and have for a long timeAccording to Wikipedia:
Now do I have your undivided attention? On 9/11 there is no doubt that multiple bombs were detonated inside the WTC complex — this fact can not be disputed and is clearly documented in hundreds of videos and backed up by many eyewitness testimonies, including highly credible first responders and firefighters. In fact, seismic readings from that day indicate that at least 3 large man-made explosions, possibly nuclear by signature, took place underground inside the WTC complex. Could these be the actual blasts that took out the cores of buildings 1, 2 and 7? Is this what the U.S. government has been hiding all along? Interestingly, previous tests have been conducted by factions of the U.S. government in which they used micro-nukes to demolish rather large buildings and the results were astonishing to say the least, almost a perfect mirror of the collapse of buildings 1, 2, and 7 that took place in Sept. of 2001. The use of micro-nukes in the WTC complex on 9/11 – the smoking gunIt’s safe to say that high energy releases have a distinct look. Dr. Ed Ward has documented what he believes is the use of micro-nukes on the World Trade Center complex attack that took place in September of 2001. One of the smoking guns in this case is that over 5.3 billion pounds of steel was instantly turned into 2 billion pounds of dust, but that’s not all — massive steel beams were bent like pretzels as the towers collapsed. One video shows the penthouse on building 7 being demolished on the roof just before the building comes down. This proves that a top-down demolition process was being utilized, otherwise the buildings might have just twisted and naturally would have just fell over themselves. But perhaps the most startling revelation that nuclear devices were used is the fact that vehicles that were found up to a half mile away from the WTC looked incinerated — not to mention the tens of thousands of tiny body parts that were found on the rooftops of neighboring buildings which is not indicative at all of a gravitational collapse. The fact that many of the first responders are now dead, if not very sick, does not sound like the byproduct of a falling building, but rather sounds more like they got a massive dose of deadly radiation. Most of the responders have died of blood cancer and Thyroid cancer, consistent with heavy radiation exposure. Other red flags include:
Additionally the fact that the WTC buildings were pulverized into a fine dust cannot be ignored. This is a tell-tale sign of a high energy release typical of a nuclear explosion. Eyewitness accounts and personal testimony indicate that people were thrown an entire city block from what was described as a warm wind just as the towers begin to collapse. There were also multiple reports of “hanging skin” or “melted skin” on victims around ground zero. This was a common occurrence in the Hiroshima blast. Major hot spots were also reported in and around the debris at the World Trade Center complex and were prevalent for up to six months after the attacks. This type of activity, seen with the hot spots, is commonly referred to as “China Syndrome”, where nuclear material will continue to undergo fission for a period of time, generating massive heat plumes. To no surprise, videos obtained via Freedom of Information ACT (FOIA) requests, captured on and after Sept. 11, 2001 near the WTC site, have had sections, clips, of the video and audio removed, especially during the beginning of the collapse of the towers. However, the explosions can be heard on many independent videos, now floating around the web and can all be accounted for. Not to mention the hijackers, some of which have still been proven to be alive, were recruited by the CIA, as can be seen in the following video:
The truth is out there. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Apr 2016 06:29 PM PDT Submitted by Mike "Mish" Shedlock Deutsche Bank Admits Rigging, Will Expose Other Riggers Deutsche Bank has admitted it rigged both the Gold market and the Silver market. ZeroHedge has the details in his report Deutsche Bank Agrees To Expose Other Manipulators. Many asked me to comment. I am shocked? No. In the wake of admissions of rigged LIBOR and rigged Euribor (bank to bank interest rates in dollars and euros respectively), one would really have to wonder "What isn't rigged?" To the Moon, Alice? While some think gold would have "gone to the moon" without this rigging, I wonder if it got as high as $1900 an ounce because of rigging. The same applies to silver when it topped over $40. It's logical to believe riggers don't much care about the direction as long as they make money. Hopefully we get more details from Deutsche Bank soon. This could get interesting. What Isn't Rigged? While pondering the above question, let's dive into Deutsche Bank's 2015 Annual Report to investigate other bid-rigging opportunities. Consolidated Balance Sheet
Deutsche Bank has over €515 billion in "positive derivative values" in comparison to €496 billion in "negative derivative values". Hooray! Deutsche Bank is about €20 billion to the good. But how much was bet? Deutsche Bank's Derivatives Casino
The total size of Deutsche Bank's derivatives casino is €21.39 trillion, notional. Casino Breakdown
Inquiring minds may be asking: How much risk is there on €21.39 trillion? Perhaps surprising little. After all, interest rate risk could easily be controlled with a few timely phone calls from the Fed and ECB. What risk isn't controlled that way can always be controlled other ways (as we have seen). I am pleased to note Deutsche Bank uses "central counterparty clearing services for OTC clearing" and the bank "benefits from the credit risk mitigation achieved through the central counterparty's settlement system." "Margin requirements for uncleared OTC derivative transactions are expected to be phased in from September 2016." Whew! And we can all count on the obvious fact that Dodd-Frank reform has fixed everything. So, nothing can possibly go wrong with €21.39 trillion in casino bets, just as €20 billion in profits (.0935%) shows.
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| The New Bull Market in Gold Part I: Macroeconomic Backdrop with Jim Rickards Posted: 15 Apr 2016 05:40 PM PDT from Macro Voices:
Erik Townsend welcomes Jim Rickards to MacroVoices. Erik and Jim discuss: Gold as a currency, rather than an investment, because “earning yield requires taking risk” | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| This was the Week that Silver and Gold Prices Proved their Uptrend Posted: 15 Apr 2016 05:31 PM PDT
This was the week that silver and gold prices proved their uptrend. Listen to my words. Meanwhile, stocks have stalled, preparing to falling from the air like a soaring eagle without wings. US dollar index tried to break out of a falling wedge upside this week, but spoke out of the other side of its scrofulous mouth today. Here's the US dollar index chart, http://schrts.co/QHFePt Today's turndown doesn't settle anything. Dollar index reached the 20 DMA & today turned back. Normal up and down/back and forth of markets. It would have to close below 93.62 (last low) to negate this week's upside breakout. Bear in mind that it seems that silver and gold are not now paying much mind to the dollar, & are on a tear of their own, never mind the dollar. Yen closed up 0.19% at $1.1286. If you expect nothing out of the euro, you won't be disappointed. Yen rose 0.63% today to 92, but uptrend is fractured. Stocks have been eking out gains, only to move sideways and at last reach a marginal new high. Today they dwindled and fainted all day. Dow misplaced 28.97 (0.16%) to wind up at 17,897.46. S&P500 lost 0.1% (2.05 points) to 2,080.73. Very shortly the next sudden, savage, & ferocious slide will begin. Inflation markets: West Texas Intermediate Crude has stayed above its 200 DMA for five days, which powerfully argues the uptrend from the January & February double bottoms were THE bottom. Copper hasn't climbed over that 200 dma fence, but still appears to have bottomed in January. CRB commodity index is also trending up. A bit early to pronounce it dead, but there doesn't appear to be much more heartbeat in the commodity bear market. Translation: commodities have probably ended their 8 year drop and headed back up, sensing inflation coming. The silver price today rose 0.9% or 14¢ to 1630.9¢. Gold recovered $8.10 (0.7%) to $1,233.10. Both metals had to correct a little to PROVE the mettle and strength of their uptrends. Both had to close higher today. Both did. Both have entered an uptrend that should carry into June. Clearest picture of silver's sudden awakening, like Merlin out of his coma, shows in the gold/ silver ratio chart, http://schrts.co/kh9gOy First it broke and gapped down at the intertwined 50 & 20 DMAs, punching through the bottom channel line. Then it kept plunging through the 200 DMA. Closed today at its low for the move so far, 75.609. This is precisely what a gold and silver rally need, a falling ratio. Look at gold's chart, http://schrts.co/SAegTM Gold came back to the 50 day moving average & uptrend line for one last kiss good-bye yesterday. Next week it ought to take off toward the clouds. Outlook remains higher unless it closes below $1,220. Silver has been sassy and stubborn, up 6% this week. Today's close was not the highest Comex close so far (1630.9¢ today against 1632.3¢ on 13 April), but silver did close at its highest for the move on the End of day chart, here http://schrts.co/vJfxKN Silver is at the upper boundary line of this consolidation area. Once it escapes that area, it will run for 1778¢, maybe 1850¢. All these -- gold, silver, the ratio, platinum, palladium, the surging gold stock indices -- testify that the gold and silver price lows in December were THE bottom of the post 2011 correction. NOW is the time to buy silver and gold. Y'all hang on: rest of 2016 will be a wild ride on a broken roller coaster. Y'all enjoy your weekend. Aurum et argentum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2016, 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. 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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Why Silver Bullion Is Set To Soar – GoldCore Interview Posted: 15 Apr 2016 05:20 PM PDT from Goldcore: Jan Skoyles presents a Get REAL special on silver. She talks to Mark O’Byrne of www.GoldCore.com about how silver bullion is set to soar and the importance of owning physical silver coins and bars. GoldCore now offer silver coins VAT free in the UK and throughout the EU. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| A Drone Flies Through A Rotting, Abandoned $17.5 Million Vancouver Mansion; This Is What It Saw Posted: 15 Apr 2016 04:57 PM PDT Over the past several months we have repeatedly noted a recurring peculiarity of the Vancouver housing bubble: there are numerous multi-million dollar mansions, which rot, abandoned, their owners having long ago disappeared. Two months ago, we first postulated the hypothetical timeline that starts with the purchase of a Vancouver mansion
Then we showed a dramatic example of the last step just yesterday in our post laying out the "Curious Story Of The Chinese Tycoon Found "Chopped Up Into 100 Pieces" In A Vancouver Mansion." But while the mysterious past of Vancouver's abandoned mansions may be increasingly more transparent, their "present" is just is perplexing: after all, they are still the legal possession of someone - even if that someone is a dismembered Chinese tycoon long dead - and as such they may remain a neighborhood blight for a long time. Another mystery: what is contained inside? For at least one answer to that question, we go to Corbie Fieldwalker, a 40 year old Vancouver resident who last July stumbled upon a house left to rot in Point Grey, a neighborhood that's home to some of North America's priciest real estate and coveted for its ocean, mountain and city views. Quoted by the National Post, Fieldwaker, said that "we started thinking about the last few years of media coverage surrounding real estate, community and Vancouver's rapidly changing identity, and how these properties could be used to frame those issue in an emotionally engaging way that may be lacking in the current conversation." The solution was obvious. Make films. And so for the past nine months, Fieldwalker has been entering abandoned multimillion-dollar properties equipped with a DSLR camera and drone, shooting them from every angle he can before they're gone forever. So far, he's filmed five properties in Point Grey and a few in the south Cambie area. Many of them sit behind blue fences, the telltale sign a backhoe is on its way. Fieldwalker said accessing the properties is simple: "We just go up to them and shoot." In the following film posted to Fieldwalker's Vimeo page, the viewer is brought inside a 3,430 square-foot Point Grey teardown on Drummond Drive, which last year sold for $17.5 million. The property's overgrown lawn, mossy shingles, smashed windows and missing doors suggest it's been many years since anyone called it home. It's owner, mostly likely another Chinese tycoon, is long gone. Inside, the camera pans and dollies slowly over peeling paint, crumbling gypsum and broken glass, up a staircase and down hallways that show no signs of life, save for some graffiti. It would be the perfect set for a horror or post-apocalyptic film. Fieldwalker said he understands he's trespassing and takes responsibility for it, but believes that because the properties are on unceded Coast Salish territory, they can't truly be owned. Many have sat vacant for five or more years as investment properties. "I've had no friction so far," he said. Fieldwalker said the films began as a personal project, but he now hopes they might facilitate discussion about architecture, history and how the city is valuated. "There needs to be sort of a change in the value of the community," he said, although it is unclear if the community can stand any further valuation upward. "Right now, it's about making money – and I understand, because houses are going for a million dollars over offer, and I don't really blame these people – but it's destroying the fabric of the city really quickly, I think." He doesn't expect his films to change the views of Vancouver residents and the government, but hopes they might preserve memories of the neighbourhoods where they grew up. "It's more about an archival record that can be referenced as we develop our understanding and appreciation for this stuff" he said. He will be busy for a while: as the National Post reports, according to city records there were 974 housing-permit demolitions citywide in 2015. 917 were torn down in 2014, 859 in 2013 and 1,008 in 2012. The fate of the $17.5 million house which Fieldwalker has decided to showcase is not clear at this moment, but at least viewers can now see the inside of one of Vancouver's most expensive, and abandoned, mansions, through the perspective of a drone. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Full Event: Donald Trump Holds Rally in Plattsburgh, NY (4-15-16) Posted: 15 Apr 2016 01:48 PM PDT Friday, April 15, 2016: Full replay of the Donald J. Trump for President rally in Plattsburgh, NY at the Crete Civic Center. Full Speech: Donald Trump Holds Rally in Plattsburgh, NY (4-15-16) The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists ,... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| World War 3 NATO intercepts 4 groups of Russian Nuclear Bombers over Europe Posted: 15 Apr 2016 12:37 PM PDT MOSCOW — NATO said Wednesday that it had intercepted a large number of Russian aircraft flying close to European airspace in the past two days, in an "unusual" series of incidents that brought Russian bombers as far afield as Portugal..!! The Financial Armageddon Economic Collapse Blog... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fears Of Economic Crash As China Economy Slows Posted: 15 Apr 2016 12:30 PM PDT What are your thoughts? I am hearing from some circles that China is really slowing down but from other circles I am hearing that Chinese Yuan will become backed by gold. In this video I give my opinion about what I see coming and when. Thanks for watching and be sure to join the debate in the... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank Meltdown 2016! Bail-Ins, Emergency Meetings, The Coming Collapse, And More!!! Posted: 15 Apr 2016 11:00 AM PDT Still think the economy is just "okay?" I SUGGEST YOU THINK AGAIN!!!!!!! Because not only have there been SEVERAL meetings with President Obama, Vice President Joe Biden, and Federal Reserve chair Janet Yellen this past week, but we've been also seeing an uptick with banking glitches, currency... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Four Profit Opportunities from the Secret “Shanghai Accord” Posted: 15 Apr 2016 10:38 AM PDT This post Four Profit Opportunities from the Secret "Shanghai Accord" appeared first on Daily Reckoning. Seven weeks on, the "Shanghai Accord" thesis is looking stronger than ever. And it could mean up to 276% gains before year-end. Just for starters. Back on Feb. 26, finance ministers and central bankers from the "G-20" nations gathered in Shanghai. The "Shanghai Snoozer" we called it, because it made absolutely no news, despite pleas from the International Monetary Fund for "bold multilateral actions to boost growth and contain risk." But a month later, Jim Rickards informed us of a "secret side meeting" involving the United States, Europe, Japan, China — representing more than 70% of the global economy — brokered by the IMF. With the hindsight of three more weeks, Jim now tells us, "The Shanghai Accord is the most powerful coordinated foreign exchange intervention by major financial powers since March 2011." That's when the G-7 nations stepped in to weaken the yen after the Fukushima earthquake-tsunami-meltdown in Japan. It worked; the yen stayed weak well into 2015. The trigger for this latest intervention wasn't a natural disaster that set off a man-made one. "China needed currency devaluation to give its economy a boost," Jim explains. "The last two times China did this (August 2015 and January 2016), U.S. stock markets tanked. The problem was how to devalue China's currency without sinking U.S. stocks (and potentially other markets around the world)." Key to this solution is a basic fact, one that too many Wall Street "experts" and financial bloggers overlook: Currency wars are a zero-sum game. "If the dollar gets weaker, the euro gets stronger. If the yuan gets weaker, the yen gets stronger. It can't be any other way. Currencies cannot all devalue against each other at the same time. It's a mathematical impossibility." [They can all devalue against gold, but that's a story for another day… Heh.] Jim has an analogy, one we've shared before, but it's a good one to revisit. "Think of the countries in a currency war as four soldiers fighting on a hot day. They're tired and thirsty and they decide to take a short rest. But they only have one canteen of water to share among the four of them. What do they do? They pass the canteen. "Each soldier is thirsty and wants to drink the whole canteen. But they're all in the battle together; they need each other. So each one takes a sip and passes it to the other. Somehow, they all survive." "Passing the canteen" has been the story among the globe's four biggest economies since 2010: 2010: An undervalued Chinese yuan. Recalls Jim: "Remember all of the complaints about 'currency manipulation' by the Chinese coming from Treasury Secretary Tim Geithner?" 2011: Then it's the dollar's turn for weakness: The dollar hit an all-time low that summer (as gold hit an all-time high — no coincidence) 2012–13: The yen-weakening plans hatched in 2011 bore fruit. "The yen weakened through 2013," says Jim, "getting as low as 124 to the dollar" 2014–15 : Europe took its turn, first with negative interest rates and then with its own version of "quantitative easing." The euro bottomed around $1.05 twice last year. Now in 2015, China and the U.S. are feeling parched. "The Chinese economy is coming in for a hard landing, and the U.S. economy is flirting with recession," says Jim. "China and the U.S. are the two largest economies in the world. If they go down, the world goes down with them. There's really no debate. It's time for another round of Chinese devaluation. The U.S. needs a cheaper dollar also." But how do the powers that be manage to weaken both the yuan and the dollar at the same time? Jim described the essence of the Shanghai Accord here last month: Weaken the yuan by strengthening the euro and yen. With the yuan loosely pegged to the dollar, the dollar will likewise weaken. It's all a theory — again, no one strode before the cameras to make an announcement — but everything that's happened in the last seven weeks has reinforced the theory. The European Central Bank signaled it was done with easing measures. The Bank of Japan delivered less "quantitative easing" than markets expected. The Federal Reserve, meanwhile, has gone totally "dovish." Janet Yellen's Very Important Speech at the Economic Club of New York on March 29 touched off a huge yen rally…
"What's most significant about this latest twist in the currency wars is that the effect will be long lasting," Jim concludes. "The strong dollar episode lasted over four years (2011–15). The weak yen episode played out over three years (2012–15). This new episode of strong yen, strong euro matched by a weaker dollar and weaker yuan has just begun. "We could see the yen trade through 100 to the dollar and the euro trade through $1.20 before it's time to pass the canteen again. That's plenty of leeway for you to profit from the currency wars." Indeed there is — and you don't have to play the risky and complicated forex markets to do it, either. On Tuesday, readers of Currency Wars Alert were clued in to a way to generate "Shanghai Accord" gains of up to 276% before year's end. And three more related trades are on the way between now and Memorial Day. As Jim said, the story's just beginning. Act now for maximum profit potential. Regards, Dave Gonigam P.S. 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 Four Profit Opportunities from the Secret "Shanghai Accord" appeared first on Daily Reckoning. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proof That “Experts” Are Dangerous Imbeciles Posted: 15 Apr 2016 09:02 AM PDT This post Proof That "Experts" Are Dangerous Imbeciles appeared first on Daily Reckoning. Here are some headlines that came across my desk in recent months… "Cheap oil is good for consumers." "The price drop in oil may trigger a global recession." How could there be such disparity? Confused? Me too. With the sock puppets across the net making conflicting claims, it's easy to get mixed up. And don't even think about listening to "experts." Despite some claims to the contrary, the truth is no one believed oil would drop like a rock from roughly $115 a barrel to near $65 in 6 months…and then continue down to nearly $25 a barrel 12 months after that. In fact, this chart from the Financial Times shows what the "experts" were actually predicting in the midst of oil's historic decline.
Notice that economists' price forecasts kept changing as oil cratered. As you can see, the "experts" had no clue the whole way down. But while these forecasts were way off, there was a unique market insight taking shape in late 2014… and it made some people filthy rich. In late 2014, a downward trend in oil's price action started. In fact, my proprietary system triggered an oil "sell" signal in August 2014, when oil was still trading at $95 a barrel. Take a look…
If you jumped on that price trend and rode it out, you had a chance to make a killing. If you relied on economists' forecasts, you missed out… or you got killed predicting an oil rise. To this date, oil remains in a downtrend according to my long-term trend following system. And that's all you need to know. Remember, no one can predict with useful accuracy what the price of any commodity or stock will be in the future. The only thing you can know is the price action right now. For every so-called expert who thinks oil is going down, there's another who says it's going up. As the old saying goes: "Opinions are like [blank] holes. Everyone has one." And all this adds up to is noise… which leads to the subject of my podcast this week. How to Surf Big Market Waves for ProfitsToday, I want you to listen to my conversation with renowned trend following trader Cole Wilcox. Cole is the CEO of Longboard Asset Management. And the reference to surfing in his company's name isn't by mistake. You see, a true surfer knows that it's impossible to control or predict the action of the ocean. It's far too complex and powerful… much like the market for oil. Great surfers find where the big waves are and ride them. They don't waste time trying to predict the weather, winds and the many variables that control wave formation. And that's precisely Cole's approach to trend trading. He can't control or predict the economy or markets. So like me, he doesn't try. Cole sees a surfboard as a tool to extract benefits from unpredictable and often massive ocean waves… just as he developed a trend following system to extract benefits from the massive trends we see in the markets. Cole is a fascinating guy. He started from nothing. And by following a trend following approach to trading, his firm is thriving with nearly $500 million in assets under management. Here's what you'll discover in today's podcast…
Click here to listen to this week's podcast. Please send your feedback to coveluncensored@agorafinancial.com. I'd love to hear your thoughts, whether praise of my work… or how my bluntness made you punch a wall today. Bring it on, I can take it. Regards, Michael Covel The post Proof That "Experts" Are Dangerous Imbeciles appeared first on Daily Reckoning. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Democrats And Republicans: The New Mafia Posted: 15 Apr 2016 08:32 AM PDT Arthur Thompson of the John Birth Society who reveals more about Heidi and Ted Cruz's ties to both the CFR and the North American Union designed to end U.S. sovereignty and America as we know it. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists ,... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Apr 2016 08:15 AM PDT Gold-mining stocks surged higher this past week after breaking free from their high consolidation. This newest upleg catapulted gold stocks to a doubling in less than 3 months, a remarkable world-leading performance. But despite its quick doubling, this red-hot sector still has another easy doubling left to come from here. Gold-mining stocks still remain greatly undervalued relative to prevailing gold prices. Gold stocks’ whipsawing journey so far this year has been nothing short of incredible. Back on January 19th, less than 3 months ago, the flagship HUI gold-stock index plunged to 100.7. Those levels were utterly astounding, as that was the HUI’s lowest close since July 2002. Back then gold was trading near $305, and had yet to exceed $329 in its young secular bull. Revisiting those levels felt like a gold-stock apocalypse. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Apr 2016 08:00 AM PDT Bad Vlad story just doesn't get oldMedia have been speculating about a special weapon Vladimir Putin has up his sleeve - to help him conquer the world, no less... Watch what they think 'Putin's Special Army' could look like... The Financial Armageddon Economic Collapse Blog tracks trends... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| China Shows Signs of Momentum Building Posted: 15 Apr 2016 07:58 AM PDT This post China Shows Signs of Momentum Building appeared first on Daily Reckoning. And now… today's Pfennig for your thoughts… Good day, and a happy Friday to one and all! There was a lot that went on yesterday and in the overnight markets, so let’s get to work here. First, China printed their 1st QTR GDP, and it was right smack dab in the middle of the Chinese government’s range (6.5 to 7%) at 6.7%, and on the outside that looks tepid right? I mean we I used to report +10% GDP numbers from China. But some underlying measures, like Industrial Production that saw a better than expected result, indicate to me that there is momentum building in the Chinese economy, and that has set the trading parameters today, allowing the markets to forget about the bad news from Singapore yesterday. So the risk sentiment is back on today, which means the dollars of Australia (A$) and N. Zealand/kiwi, are on the rally tracks, and dragging any other risk currencies like the Canadian dollar/loonie, along for a ride. In fact, kiwi is the best performer overnight! I still marvel at the action here between the A$ and kiwi. Kiwi has outperformed the A$ this week, and that baffles me, as the Reserve Bank of New Zealand (RBNZ) cut rates at their last meeting, while the Reserve Bank of Australia (RBA) left rates unchanged. But, I won’t fight city hall over this, it is what it is, right? The price of oil remains steady holding to its $41 handle. That marks three consecutive days of holding $41. Oil Ministers are meeting in Doha this weekend, to discuss a production freeze, but like I’ve said before, I doubt that these guys could ever come to an honest agreement like that, given they all cheat on production numbers now! But, Bless them for trying, eh? I can see Russian President, Putin, tearing off the sleeves of this shirt, to show off his guns, and start pounding the podium telling the ministers that they had better agree to a freeze or else. Or else what, Chuck? Oh, come on. I’ve sure done some imaginary role playing this week haven’t I? Well, that’s something that I think adds some thinking to what might be going on, so don’t think for one minute that I’m finished with that! After the better than the average bear news from China overnight, the Peoples Bank of China (PBOC) decided to wait for it, just a little longer. Wait for it… Ok, they decided to depreciate the renminbi in the fixing. What, what? Things are looking up in China and they mark down the currency? Hey! The mark down was smallish, so I’ll just put this down as the Chinese, once again, are showing the markets that they can’t speculate with the currency thinking they know what the PBOC will do. The Brazilian real continues to bask in the sun that is being supplied by the chance that president Dilma Rousseff will be impeached. This weekend, the lower house in Brazil’s congress will vote. Recall that the Upper House vote to impeach her earlier this week. The lower house needs two-thirds of the votes to impeach her. It will be a close call, as Rousseff still has supporters that will not vote to impeach her. I read yesterday that the Brazilian Central Bank (BCB) has intervened to the tune of $20 billion worth in real this week, in an effort to keep the real from getting any stronger. You know me, I’m not for this type of intervention in what the markets want to do. But, right now, it looks like it was $20 billion wasted because the real continue to get stronger in spite of the intervention! The price of gold got whacked again yesterday down $14 on the day. UGH! Just when it looked like gold was counting down for a moon shot, it sees two consecutive days of getting whacked good. I can hear the price manipulators right now, yucking it up and high fiving each other, telling each other “good job”, and asking, who do they think they are taking gold above $1,250? Like we were going to sit here on our hands and do nothing about that? Yeah, right, we showed them, we showed them good! Well, they might want to calm down, and go find a place to hide, because now that Deutsche Bank has entered into a settlement agreement regarding the prices of gold and silver, it was revealed yesterday that in the agreement, Deutsche Bank has agreed to expose other institutions purportedly involved in manipulations. Uh-Oh, and according to the report on the Bloomberg, this witch hunt will begin immediately, as Deutsche Bank has agreed to turn over instant messages, and other communications between them and other parties. Stealing when I should have been buying, comes to my mind right now, the great song by Uriah Heep. OK. I’ll leave that for the investigators. The Central Bank Meetings in the Eurozone and U.K. yesterday didn’t see any changes, as I expected they wouldn’t, but we did see some verbiage from the Bank of England (BOE) regarding BREXIT. This was unusual to me, and to the markets, who chopped the pound off at the knees after hearing that a BREXIT discussion played a part in the no rate change decision. I laughed reading that, because, that’s just an excuse. The BOE was never going to hike rates at this meeting, the next meeting or any meeting in the near future! They didn’t need an excuse as to why they didn’t hike rates, everyone knows you can’t, and won’t hike rates any time soon! I read this morning that Bank of Japan (BOJ) Gov. Kuroda was speaking and mentioned that he was not going to bring up FX moves or currency intervention at the G20 meeting that’s taking place in Washington. Kuroda should know, he’s the person in charge of those items! I also read somewhere else that Kuroda is breathing a sigh of relief this morning as the yen has backed off its all-out assault on the dollar. Yen’s y-t-d gain vs. the dollar now stands at a little more than 10%… Still quite a bit stronger than Kuroda or Japanese PM Abe would like to see yen though. The BOJ will next meet on April 28. I would think that the usual thoughts about more stimulus for the Japanese economy would begin to build the closer we get to that date. I personally don’t see any additional stimulus having an effect on the Japanese economy. And maybe, just maybe, PM Abe is beginning to see it that way. Hey! He could have pinned his colors on the mast of someone else! He doesn’t have to agree with me, but then so far everyone else he as agreed with, has gotten him deeper in the hole. I might as well take the helm, I certainly wouldn’t/couldn’t do worse than what has been done here! HA! The euro is flat today, after the ECB left things unchanged yesterday. The euro doesn’t seem to fit in with the “risk sentiment currencies” so they can rally and not have the Big Dog, euro, go along with them. Seems strange, but that’s the way love is! Instead, the trading pattern these days is for the euro to rise on safe haven flights, and dollar weakness. And in India, the Reserve Bank of India (RBI – still the coolest abbreviated Central Bank name) announced that India had booked a narrower Trade Deficit in Feb than a year earlier, and Industrial production in March rose 2%, which was much better than expected! But the rupee seems to be stuck in the mud right now. I told you yesterday that the U.S. Data Cupboard only had the stupid CPI and the weekly jobless claims, so there was really nothing here to see, except for all those that still believe that CPI is something to hang your inflation gauge hat on. So, yesterday I went on a tirade about the Fed Governors and their districts saying that overall prices were increasing. I pointed out that March Retail Sales were negative, so no price pressures there, and that the Wholesale inflation (PPI) had slipped in March. Well, along came the stupid CPI yesterday, and while prices when up 0.1% on a monthly basis, below expectations I might add, it fell year on year -0.9%. But overall, the Fed districts saw prices increasing. There you go! They say it happened, so it happened, especially in the eyes of the dollar bugs, who kept the pressure on the currencies yesterday. Today’s Data Cupboard has two of my fave “real economic prints” Industrial Production (IP) and Capacity Utilization (CAPU) These two have been illustrating a different story about the U.S economy than the one the Fed Gov.’s keep illustrating. And I don’t believe that the March prints for these two will be any different. Look for a negative IP and a drop in the CAPU percentage. We’ll also see the U. of Michigan Sentiment report for the first two weeks of April, and the Total TIC Flows, which have been pushed to the back of the closet by the markets. I looked out at next week’s data, and it will be a slow week for data, so who knows where that’s going to go take us. But that’s next week, only today is promised to us. Today, April 15, should be tax day. But for some reason, unbeknownst to me, it was moved to April 18th. Do you have your taxes finished? Already filed? Or looking for an extension? Well this story is all over the news so I doubt none of you have not heard about it, but I thought it was still FWIW worthy. So, here’s the link to the entire story about the 5 Biggest Banks in the U.S., or, here’s your snippet:
Chuck again. I find this timing of this news to be quite interesting given we are in the middle of the election year here in the U.S. And has to give Bernie Sanders a huge lift, given he has called for the biggest banks to be broken up. (I’m not a Bernie Sanders supporter, I was just pointing out his stance that plays well in the sandbox with this news) That’s it for today. All righty then, time to get off this bus today, and send you on your way to a fantastico Friday, and be good to yourself! Regards, Chuck Butler P.S. 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 China Shows Signs of Momentum Building appeared first on Daily Reckoning. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Price Suppression, Paul Volcker and the Vatican Bank - Video Posted: 15 Apr 2016 07:39 AM PDT Transcript Excerpt: hi it's Friday April 15th 2016 I like to talk about today something that you know years ago and still nowadays to some extent is still considered conspiracy theory in my opinion is considered the truth by there is a truth that's uncomfortable when the establishment and the corporate media which is owned by the establishment you know and big banks and corporations and is the subject of precious metals manipulation you know especially gold and silver as well of course and a lot of people you know that don't know much about money and the nature of money in the history of the monetary system when you tell them that you know gold is manipulated or suitors manipulated you know they don't | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Apr 2016 07:32 AM PDT Silver moved sharply higher recently along with mining stocks, but unlike the latter, the white metal continued to show strength even on Thursday by holding up well despite gold's and mining stocks' decline. What does this tell us? It tells us that a decline is very likely to be seen shortly. Let's see why (charts courtesy of http://stockcharts.com). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OBAMA to BRING TOTAL ECONOMIC COLLAPSE Before He Leaves Office? Posted: 15 Apr 2016 07:13 AM PDT A Wells Fargo bank insider, who claims to be a teller, has said that the bank are training their staff to deal with an imminent "emergency scenario". The insider reports: I am a teller at Wells Fargo here in the US this is also my first time using this proxy. They started training us today for a... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Apr 2016 06:15 AM PDT "FED & US Dollar will be hit by financial Armageddon if Asian gold offer Refused" - B F. 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! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How Do the Gold ETFs Really Work? Posted: 15 Apr 2016 05:19 AM PDT SunshineProfits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver Up 5.6%; Gold Down 1% as Deutsche Bank Settles Gold and Silver Manipulation Suits Posted: 15 Apr 2016 05:01 AM PDT Silver prices have surged 5.6% this week, while gold is down 1% in dollar terms, 1.5% in sterling terms but flat in euro terms. Gold appears to be consolidating after the recent gains and the bounce in stocks this week is likely leading to traders taking profits. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How Do the Gold ETFs Really Work? Posted: 15 Apr 2016 02:51 AM PDT To understand the relationship between the gold ETFs’ inventories and the price of gold it is necessary to grasp how the ETFs work. As we already know, the aim of gold ETFs is to replicate the performance of gold. How do they achieve that? Surely, they purchase and hold the gold bullion (at least SDPR Gold Trust claims to do it, since many other gold ETFs hold gold futures contracts rather than bullion, but it does change the underlying mechanism at work). This is basically why the ETFs net assets value (NAV) tracks the price of gold so well. What is NAV? It is the sum of funds’ assets less any liabilities, divided by the number of outstanding shares. Assume that there are 1000 shares of an ETF, which holds 100 ounces of gold. If the price of gold is $1200 per ounce, the NAV amounts to $120. Since SPDR Gold Trust holds only gold bullion, the net assets value of a GLD share will naturally move by the same percentage as the gold prices (regardless of the absolute level of gold inventories). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Watch the Topping Dollar for Clues to Gold Posted: 15 Apr 2016 01:30 AM PDT Kitco | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Miners Arrived At Huge Resistance After An Incredible Rally Posted: 15 Apr 2016 01:17 AM PDT Gold is definitely story of 2016, at least so far. The yellow metal rose some 25% in the first quarter. That rally was impressive, but the performance of precious metals miners was even better, as the rally of most gold miners surpassed 100% in 2016. Incredible. Is this the time to enter the gold mining space or stay on the sidelines? | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SDR Does Not Stand for Secret Dollar Replacement Posted: 14 Apr 2016 05:00 PM PDT At the IMF/World Bank meetings this week, Chinese officials are again pushing for greater use of the IMF's unit of account, Special Drawing Rights. It is China's turn as the rotating host of the G20, which gives it greater influence over its agenda. |
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