Monday, June 27, 2016

Gold World News Flash

Gold World News Flash


Why The Vast Majority Of Analysts Were Caught With Their Pants Down On Brexit

Posted: 27 Jun 2016 01:00 AM PDT

Submitted by Brandon Smith via Alt-Market.net,

Yes, in case you have been asleep for 4 days, the UK referendum has passed and global markets are currently in a freefall we have not seen since 2008.  In this case, I'm going to have to trumpet my successful call here.  For all the general flak I received in emails for my predictions of a Brexit passage including in my article 'Brexit: Global Trigger Event, Fake Out Or Something Else' which was published during the height of the polling disinformation frenzy, I think it is important to explain how I was able to discern how the vote was likely to turn out when no one else did.

Also, if there were other analysts that did predict a Brexit win and I am overlooking them, please list their names and where they made those predictions in the comments below so that we can give them their due credit.

Here's why the vast majority of analysts were caught with their pants down on the UK referendum:

1) They assumed that the Brexit will hurt globalists - In the article linked above, I outlined why the Brexit actually aids international financiers and central banks by creating a scapegoat for a market crash that was ALREADY going to happen.  Rather than re-explaining my position, here is a large portion of quotations from that article:

I believe the Brexit vote may be allowed to succeed, here’s why…

 

1) Elites including George Soros have suddenly decided to dive into the market to place bets on the negative side. Dumping large portions of their stock holdings, shorting equities and buying up gold and gold mining shares. Soros has been preparing his portfolio for a successful Brexit vote while at the same time publicly warning of the supposed dire consequences if the referendum passes.  The last time Soros put this much capital into the markets was in 2007, just before the crash of 2008.

 

2) The IMF and the BIS have been warning since late 2015 (for six to eight months) that a global economic downturn is on the way in 2016. We saw considerable volatility at the beginning of this year, and markets are due for another shock. The last time the BIS and IMF were so adamant about an impending crash was in late 2007, just before the 2008 market plunge.

 

3) While the Federal Reserve has not yet implemented a second rate hike (I still believe they could use a rate hike this year to stab markets in the back if necessary), Janet Yellen pulled a maneuver which was almost as upsetting to investors. After the Fed policy meeting last week, markets were moderately exuberant and stocks were rising, then, Yellen opened her mouth and blamed the Brexit for the rate hike delay

 

Here is what the Fed has done: By delaying the second hike for another month, and then blaming the Brexit vote as a primary reason, they have created a bit of a paradox. If the Brexit vote passes, the Fed is asserting that they may not hike rates for a while, giving market investors the impression that the global economic recovery is not all that it is cracked up to be. If the Brexit vote fails, then the Fed MUST hike rates in July, otherwise, they lose all credibility. I believe Yellen’s claim that the Brexit vote was the cause of the hike delay was highly deliberate. It has triggered what may become a growing firestorm in equities and commodities.

 

From the point of view of investors, if the Brexit passes, then all hell breaks loose. If the Brexit fails, then the Fed will hike rates and once again, all hell breaks loose. Or, the Fed refuses to hike rates even though its number one scapegoat is out of the picture, it loses all credibility, and all hell breaks loose.

 

It’s a lose/lose/lose scenario for the investment world, which is probably why global markets plunged after Yellen’s remarks. Investors have been relying on the predictability of central bank intervention for so long that now when ANY uncertainty arises, they run for the hedges.

 

The Fed decision to blame the Brexit for their rate hike delay could indicate foreknowledge of a successful Brexit vote.

 

4) The recent murder of British lawmaker Jo Cox is perhaps the weirdest piece in the puzzle of the Brexit. For one thing, it makes no sense for a pro-Brexit nationalist (Thomas Mair) to attack and kill a pro-EU lawmaker when the polls for the “Leave” group were clearly ahead. One could simply argue that the guy was nuts, but I’m rather suspicious of “lone gunman,” and his insanity has yet to be proven.  I see no reason for this man, insane or not, to be angry enough to kill while the Brexit side was winning in all the polls.

 

If someone was using him as a weapon only to discredit the Brexit vote or sway the public towards staying in the EU, you would think that they would have initiated the murder closer to the day of the referendum when it would have the most effect. The information flooded public has days to digest new data and forget Jo Cox.

 

My theory? Thomas Mair has handlers or he is just a mentally disturbed patsy, and his purpose is indeed to paint the Brexit movement as “angry” or crazy. But this does not necessarily mean the intent behind the assassination of Jo Cox was to break the back of the Brexit movement. Rather, the goal may only be to perpetuate a longer term narrative that conservatives in general are a destructive element of society. We kill, we’re racists, we have an archaic mindset that prevents “progress,” we divide supranational unions, we even destroy global economies. We’re storybook monsters.

 

Even the cultural Marxists at the Southern Poverty Law Center somehow produced documents allegedly linking Mair (a veritable unknown) to Neo-Nazi groups in 1999. Wherever the SPLC is involved, the official story is always skewed.

 

The murder of Jo Cox has had a minimal effect on Brexit polling numbers.  In the end, the elites may find Thomas Mair more useful as a mascot for the Brexit AFTER the vote, rather than before the vote.

 

So now the Brexit movement, which is conservative in spirit, is labeled a “divisive” and “hateful group”, and if the referendum is triumphant, they will also be called economic saboteurs.

I thoroughly agree that the internationalists do not usually allow economic developments of a global nature to occur if those events are damaging to their base of power.  The problem is, Brexit is not damaging to their base of power in the long run.  In fact, the elites are aided by the Brexit because now they have British pro-sovereigns and the principle of sovereignty itself to blame for a market crash that they have actually been engineering for years.

2) They Believed The Polling Numbers - I take polling numbers into account at times but they are ultimately meaningless when you are dealing with global economic events.  As I point out above, such events are thoroughly played by internationalists.  What people should have been looking at instead of skewed polling numbers was the behavior of elites prior to the vote.  George Soros' latest market bets were clearly on a crash (I'm sure he just raked in a handsome profit), and central bankers from around the world congregated at the Bank for International Settlements in preparation for the vote.  Janet Yellen blaming the Brexit for the Fed's refusal to raise rates in June should have been a red flag for everyone.  When in doubt, always look at what the elites are doing with policy and their own money.

3)  They Have Grown Cynical - After eight years of constant market manipulation, the Liberty Movement in particular has grown rather cynical about whether or not the fundamentals even matter anymore.  I'm here to tell you, they do matter.  However, stocks today are not based on fundamentals, they are based on dubious investor psychology and algo-trading computers.  When investor psychology is broken, the markets are suddenly reminded of the terrible fundamentals of our economic system and stocks begin to crash.  Eventually, fundamentals will win over false financial optimism.  The international banks are well aware of this, and are merely allowing circumstances by which they can crash the markets THEIR WAY instead of allowing the markets to crash naturally.  Too many analysts overlooked the usefulness of Brexit to the elites because of their crippling cynicism.

4) They Missed The Bigger Picture - If all an analyst does is track equities and sometimes commodities, they are never going to grasp what is happening in the economy.  Our financial system is not based entirely on numbers and graphs; it is a sociopolitical apparatus.  Political and social developments can indeed signal what might happen in stocks and on mainstreet.  The relations are there, but they are often indirect.  In 2016, EVERYTHING is snowballing with tension.  It was only a matter of time before something snapped.  The timing of the Brexit amidst these tensions led me to believe it had a high probability of being a trigger for the next leg down.

So, the big question now is what happens as the circus continues?  I will be writing a comprehensive article on what is likely to occur over the next few months in markets and everywhere else in response to the Brexit event.  Look for that article to be published early next week.  I do believe that central banks around the world are probably going to take action at some point in the near term to mitigate the market collapse and slow it down slightly.  As I have always said, this is a CONTROLLED DEMOLITION of the global economy; the elites want to steam valve the system down and are probably not going to allow a complete freefall.

You will most likely see a mainstream media campaign to marginalize the importance of the Brexit.  They will claim that the referendum is not necessarily binding yet. That it will take years to be instituted.  Frankly, this is not relevant.  Again, the markets are based on psychology first, and the damage has already been done.  Watch for further market disruptions to pile on before the U.S. elections, including other EU member states suggesting their own referendums.

Doug Casey Warns Of Crisis This Year: “We’re Going Back Into The Hurricane… Gold Will Go Higher Than Most People Can Imagine”

Posted: 27 Jun 2016 12:00 AM PDT

ShtfPlan

A Tale Of Two Asset Classes: Gold Miners Soar, Banks Crash

Posted: 26 Jun 2016 11:30 PM PDT

by John Rubino, Dollar Collapse:

The following tables illustrate one of the dilemmas of mainstream money management: The vast majority of financial advisers and portfolio managers are big fans of bank stocks because finance is, in their minds, a crucial if not the crucial form of wealth-creating activity in the modern world. So the big names in the field — Goldman Sachs, Deutsche Bank, JP Morgan, etc. — are generally seen as safe places to put client capital.

Gold and silver, in contrast are fringe, primitive, atavistic concepts that are, at best, "insurance" against some kind of 100-year flood that can't be predicted and probably won't happen. But some clients still like such things so what the hell, we'll allocate 1% of the idiots' money to it to shut them up. (1% is literally the proportion of global capital invested in precious metals.)

Unfortunately, that's credit bubble thinking. Banks are dominant forces in an economy only when that economy is creating an unhealthy amount of credit. When the process exhausts itself the banks tank, and terrified capital flows back into "primitive" safe havens. Like today:

Read More @ DollarCollapse.com

Brexit Drives Gold Frenzy, Report 26 June, 2016

Posted: 26 Jun 2016 11:21 PM PDT

The big news this week was that the British voted to exit the European Union. This was not the outcome expected by pundits, or the polls.

"Risk on" assets were relentlessly bid up prior to the vote. For example, S&P 500 index futures had closed the previous Friday, June 17, at 2059. This Thursday, prior to the vote, they were up 60.5 or 2.9%, to 2119.50.

The British pound began its run up a day earlier than the S&P, closing at $1.42 on Thursday, June 16. This Thursday it was up to a high of $1.50. The same pattern occurred in crude oil (West Texas), up over $4 from the June 16 low to the June 23rd high, and in other assets.

After the vote, it was a giant blowout. By Thursday evening (Arizona time), the pound had hit a low of $1.32, a drop of about 18 cents or almost 12%. As of Friday's close, the S&P was down 3.6% but continued to decline after hours with futures ending down -4.16%.

To hear mainstream gold commentators tell it, gold and silver went up whereas (nearly) everything else went down. That is not how we see it. At all.

The pound, euro, and other currencies are dollar derivatives. Therefore, we think it's appropriate to price them in terms of the underlying thing from which they are derived. The dollar. The currencies went down in dollar terms, as did stocks.

However, for the same reason that the dollar cannot be properly priced in pounds or euros, gold cannot be priced in the dollar. For the same reason that if you fall off a cliff the height of the cliff top cannot be measured in terms of distance above your head, a meter stick cannot be measured in terms of a rubber band.

The dollar must be priced in gold. The dollar is not precisely a gold derivative. However, it is valuable only because, and only for so long as, gold makes a bid on it.

So we look at it like this. Other currencies and risk assets fell in dollar terms. And the dollar fell in gold terms. The dollar hit its high on that same date (June 16), of 24.36 milligrams of gold. It made a low on Thursday June 23, of 22.89mg, down -1.47mg.

The world's reserve currency fell 6% in a week. Since everything else went down in terms of that currency, in reality they fell even more.

As always when the dollar falls, most people see only the rise in the price of gold. And gold commentators reiterate their call for gold to go up even more. They say that, now, people are starting to wake up (as if the low price of the metal was due to somnolence), and when they do gold will skyrocket.

We concede that, this time, there is more reason to think that the world of paper may have a big decline (and hence the mirror image, the price of gold, will rise). But as always, we want to see if this price move was real or if it was just leveraged speculators taking on even more leverage and going closer to all-in. So let's look at the only true picture of the supply and demand fundamentals. But first, here's the graph of the metals' prices.

       The Prices of Gold and Silver
prices

Next, this is a graph of the gold price measured in silver, otherwise known as the gold to silver ratio. The ratio was down a hair this week. 

The Ratio of the Gold Price to the Silver Price
ratio

For each metal, we will look at a graph of the basis and cobasis overlaid with the price of the dollar in terms of the respective metal. It will make it easier to provide brief commentary. The dollar will be represented in green, the basis in blue and cobasis in red.

Here is the gold graph.

       The Gold Basis and Cobasis and the Dollar Price
gold

If you wanted to make a case that the price of gold was going to go higher, a picture of gold abundance (i.e. the basis, the blue line) spiking up would be discouraging. The scarcity (i.e. the cobasis, the red line), already deep into negative territory, fell further in a sharp drop from -1.2% to -1.6%.

One can now make an annualized carry of +1.5% to buy gold metal and sell an August future, which will deliver in two months. Where else can you make that kind of return? For comparison, the LIBOR rate for two-month maturity is 0.52%.

There can be no question that the marginal buyer of gold is the warehouseman. With such an outsized profit to carry it, surely these folks are keeping busy and off the streets.

Why is there such a profit to be made carrying gold? Because current speculators are leveraging up even further, and/or new speculators are entering the game, adding their fresh leveraged bets to the table. After all, gold should go up in an event like Britain leaving the Eurozone.

As we hinted above, there is a case to be made that gold is a better asset to hold than UK gilts, German bunds, or US Treasurys. It's the same case that could have been made in 2001 when the price of gold was low, in 2011, when the price was high, last fall when the price was lower or Thursday when the price spiked to $1359. However, you can't trade based on the background story.

Maybe some people will change their preferences. Meanwhile, the debtors are under a rising burden for each dollar of debt due to falling interest rates, not to mention a rising number of dollars of debt as well.

About 18 months ago, the Swiss National Bank had been struggling to maintain a peg to the euro, set at 1.2 francs. While the SNB had been blustering that it had unlimited resources to squander, it finally had to let go when it hit its stop-loss. When that happened, the interest rate in Switzerland plunged. Keith wrote a paper arguing that the Swiss franc will collapse.

Negative interest is not just a disincentive to hold paper currency (though it is, of course). It is not merely that gold becomes more attractive than negative-yielding paper (though it does, of course). More importantly, negative interest is a powerful incentive to destroy capital. If you could borrow at -1% per annum, then you have a license to lose capital at a rate of 0.5%. Would you want to extend credit like this?

We note that the Swiss yield curve has sunk further beneath the surface of zero, since that article in January 2015. The 20-year bond is now drowning, and the 30-year is practically zero. 18 months ago, the 10-year was about -0.25%. Now it is below -0.53%.

At some point, this will begin driving people to gold. Not to make a bet on its price, using leverage, and ultimately to make more dollars. But to own, as a way of avoiding falling rates and rising counterparty risk.

However, it doesn't look like we're at that point just yet.

Indeed, despite the rise in the market price, we see a drop in our calculated fundamental price. It's now a bit under $1,100, or about $230 below the market. As we often say, we do NOT recommend naked shorting a monetary metal. It is always possible that some central bank will do something even more crazy and the price could go +$250 in an instant. Additionally, chartists may be drawn to bet on the gold price because they see momentum. We can tell you that the metal is overpriced, or conversely the dollar is underpriced. By a sizeable amount.

Now let's turn to silver.

The Silver Basis and Cobasis and the Dollar Price
silver

It's a similar picture in silver.

The fundamental price didn't move much, while the market price is up about 27 cents. The price of the metal is about $2.60 over what we calculate is its fundamental.

Interestingly, this puts the fundamental ratio below the market, under 72. We shall see if this state persists.

 

© 2016 Monetary Metals

Brien Lundin: BREXIT Underlines Currency Debasement as Real Driver Behind Gold Price Appreciation

Posted: 26 Jun 2016 10:01 PM PDT

from Palisade Radio:

We have had the deepest and longest decline in the history of commodity equity markets. Just recently we have confirmed a breakout in the space and there is much more room to run. The pattern is similar to 2002 where the mining stocks doubled and everybody thought they had missed the boat, when in reality there were years of powerful gains ahead. The TSX Venture Exchange chart shows where we are now and just how far we have still to run.

Going… Going… Gone! The EU Begins to Splinter

Posted: 26 Jun 2016 08:30 PM PDT

by Pater Tenebrarum, Acting Man:

The War Street Journal immediately exhorted the poor man to "go big or go home" – in an article brimming with the usual Keynesian central planning clap-trap (we need more inflation, a strong currency is "bad", rev up the printing presses, yada-yada…):

Touching less than 99 yen to the dollar, this brings Japan's currency back to where it started just as Abenomics was ramping up in 2013. With interest rates already negative, a weak currency is one of the few tools Japan has at its disposal. A strong currency will be devastating for efforts to engineer inflation. Japan will need to prepare a response.

Bank of Japan Gov. Haruhiko Kuroda will be under pressure to go deeper on negative rates, even though doing so in the first place, in January, has seen the yen strengthen, not weaken.
[ed. note: yes, do more of what hasn't worked! This is also straight from the Keynesian playbook…]

[…]

If negative rates aren't the answer, what is? Increasing asset purchases of bonds and exchange-traded funds are an option, but there is limited room to expand those programs and the effect, only marginal at this point. Mr. Kuroda has been dismissive of more aggressive helicopter money-like moves that toe into fiscal policy. But such drastic measures, which several analysts think are technically legal, would seem to remain on the table should the fallout from Brexit endure.

[ed. note: yes, now it's time to really go CRAZY on us, Kuroda-san!]

U.K. voters have presented Japan with a much harder job than it would have had otherwise. The BOJ can now either go big, or go home.

Yes, helicopter money is going to do the trick!

We are mainly bringing this up to remind readers of the one certainty after the "Leave" campaign has surprised complacent markets around the world by winning: Our vaunted central planners are now going to flood the world with even more "liquidity", i.e., money from thin air, deepening the enormous economic damage they have already done. As we always stress: better hang on to your gold, and preferably keep at least some of it within grabbing distance.

The yen at the time of writing – there will be a lot of volatility today, so by the time you are reading this, this chart will probably be obsolete. Nevertheless, it illustrates nicely how big a surprise the outcome of the UK's EU referendum apparently was – click to enlarge.

Taking a Big Scalp

Late last year we pointed out that the social mood was darkening globally – illustrated by the fact that nearly every incumbent politician lost in elections last year – all over the world (see: Incumbents Swept from Office Around the World for the details). Thereafter, several more incumbents got kicked out, even the seemingly eternal Ms. Kirchner!

Now what does it mean when the "social mood" is deteriorating? Historically it has meant that "togetherness" and harmony will give way to isolation and a splintering of society into smaller groups. Big projects like the EU are sitting ducks when this kid of backdrop prevails. The "Brexit" is merely the continuation of a trend that has accelerated all over the world in recent years.

It's official… European holidays will henceforth be more expensive. Mr. Cameron's elegant little boat can be had for just €5 though (as of today, ca. £5,000….just kidding) – you can find it on Google, it's called the "Waterloo raft".

Read More @ Acting-Man.com

BREXIT BODY COUNT — Bill Holter

Posted: 26 Jun 2016 08:10 PM PDT

by SGT, SGT Report.com:

BREXIT: Does it signal a tidal wave of rising sentiment against the international criminal banking syndicate, and its Globalist agenda, or is it merely a Trojan horse designed by the Rothschild banksters to further ensnare humanity in their NWO spider’s web? After all, Rothschild puppet George Soros was very publicly shorting stocks and going long gold in the months leading up to the Brexit vote. Did he know something the rest of us didn’t? Regardless, Bill Holter says their are dead bodies that need to be carried out as the result of the global financial chaos we saw on Friday, June 24th – and we will know a lot more about who those bodies belong to, on Monday morning. Bill Holter from JS Mineset joins us to discuss.

BREXIT is Just the Beginning! – Marin Katusa Interview

Posted: 26 Jun 2016 08:00 PM PDT

from FutureMoneyTrends:

Marin Katusa our top resource sector investing expert we’re lucky enough to get him on to discuss the ramifications in world economics coming from the BREXIT Yes Vote. Discussed is how to best profit in the #1 safe haven Gold is, world currencies and mining stocks.

How The Pentagon Is Preparing For A Tank War With Russia

Posted: 26 Jun 2016 07:20 PM PDT

Submitted by Patriuck Tucker via DefenseOne.com,

Reactive armor and cross-domain fire capabilities are just some of the items on the Army’s must-have list.

When Lt. Gen. H.R. McMaster briefs, it’s like Gen. Patton giving a TED talk — a domineering physical presence with bristling intellectual intensity.

These days, the charismatic director of the Army’s Capabilities Integration Center is knee-deep in a project called The Russia New Generation Warfare study, an analysis of how Russia is re-inventing land warfare in the mud of Eastern Ukraine. Speaking recently at the Center for Strategic and International Studies in Washington, D.C., McMaster said that the two-year-old conflict had revealed that the Russians have superior artillery firepower, better combat vehicles, and have learned sophisticated use of UAVs for tactical effect. Should U.S. forces find themselves in a  land war with Russia, he said, they would be in for a rude, cold awakening.

“We spend a long time talking about winning long-range missile duels,” said McMaster. But long-range missiles only get you through the front door. The question then becomes what will you do when you get there.

“Look at the enemy countermeasures,” he said, noting Russia’s use of nominally semi-professional forces who are capable of “dispersion, concealment, intermingling with civilian populations…the ability to disrupt our network strike capability, precision navigation and timing capabilities.” All of that means “you’re probably going to have a close fight… Increasingly, close combat overmatch is an area we’ve neglected, because we’ve taken it for granted.”

So how do you restore overmatch? The recipe that’s emerging from the battlefield of Ukraine, says McMaster, is more artillery and better artillery, a mix of old and new.

Cross-Domain Fires

“We’re out-ranged by a lot of these systems and they employ improved conventional munitions, which we are going away from. There will be a 40- to 60-percent reduction in lethality in the systems that we have,” he said. “Remember that we already have fewer artillery systems. Now those fewer artillery systems will be less effective relative to the enemy. So we need to do something on that now.”

To remedy that, McMaster is looking into a new area called “cross domain fires,” which would outfit ground units to hit a much wider array of targets. “When an Army fires unit arrives somewhere, it should be able to do surface-to-air, surface-to-surface, and shore-to-ship capabilities. We are developing that now and there are some really promising capabilities,” he said.

While the full report has not been made public, “a lot of this is available open source” said McMaster, “in the work that Phil Karber has done, for example.”

Karber, the president of the Potomac Foundation, went on a fact-finding mission to Ukraine last year, and returned with the conclusion that the United States had long overemphasized precision artillery on the battlefield at the expense of mass fires. Since the 1980s, he said last October, at an Association for the United States Army event, the U.S. has given up its qualitative edge, mostly by getting rid of cluster munitions.

Munitions have advanced incredibly since then. One of the most terrifying weapons that the Russians are using on the battlefield are thermobaric warheads, weapons that are composed almost entirely of fuel and burn longer and with more intensity than other types of munitions.

“In a 3-minute period…a Russian fire strike wiped out two mechanized battalions [with] a combination of top-attack munitions and thermobaric warheads,” said Karber. “If you have not experienced or seen the effects of thermobaric warheads, start taking a hard look. They might soon be coming to a theater near you.”

Karber also noted that Russian forces made heavy and integrated use of electronic warfare. It’s used to identify fire sources and command posts and to shut down voice and data communications. In the northern section, he said, “every single tactical radio [the Ukrainian forces] had was taken out by heavy Russian sector-wide EW.” Other EW efforts had taken down Ukrainian quadcopters. Another system was being used to mess with the electrical fuses on Ukrainian artillery shells, ”so when they hit, they’re duds,” he said.

Karber also said the pro-Russian troops in Donbas were using an overlapping mobile radar as well as a new man-portable air defense that’s “integrated into their network and can’t be spoofed by [infrared] decoys” or flares.

Combat Vehicles and Defenses

The problems aren’t just with rockets and shells, McMaster said. Even American combat vehicles have lost their edge.

“The Bradley [Fighting Vehicle] is great,” he said, but “what we see now is that our enemies have caught up to us. They’ve invested in combat vehicles. They’ve invested in advanced protective systems and active protective systems. We’ve got to get back ahead on combat vehicle development.”

If the war in Eastern Ukraine were a real-world test, the Russian T-90 tank passed with flying colors. The tank had seen action in Dagestan and Syria, but has been particularly decisive in Ukraine. The Ukrainians, Karber said, “have not been able to record one single kill on a T-90. They have the new French optics on them. The Russians actually designed them to take advantage of low light, foggy, winter conditions.”

What makes the T-90 so tough? For starters, explosive reactive armor. When you fire a missile at the tank, its skin of metal plates and explosives reacts. The explosive charge clamps the plates together so the rocket can’t pierce the hull.

But that’s only if the missile gets close enough. The latest thing in vehicle defense is active protection systems, or APS, which automatically spot incoming shells and target them with electronic jammers or just shoot them down. “It might use electronics to ‘confuse’ an incoming round, or it might use mass (outgoing bullets, rockets) to destroy the incoming round before it gets too close,” Army director for basic research Jeff Singleton told Defense One in an email.

The T-90’s active protective system is the Shtora-1 countermeasures suite. “I’ve interviewed Ukrainian tank gunners,” said Karber. “They’ll say ‘I had my [anti-tank weapon] right on it, it got right up to it and then they had this miraculous shield. An invisible shield. Suddenly, my anti-tank missile just went up to the sky.’”

The Pentagon is well behind some other militaries on this research. Israeli forces declared its Trophy APS operational in 2009, integrated it onto tanks since 2010, and has been using it to protect Israeli tank soldiers from Hamas rockets ever since.

Singleton said the United States is looking to give its Abrams tank the Trophy, which uses buckshot-like guns to down incoming fire without harming nearby troops.

The Army is also experimenting with the Israeli-made Iron Curtain APS for the Stryker, which works similarly, and one for the Bradley that has yet to be named. Raytheon has a system called the Quick Kill that uses a scanned array radar and a small missile to shoot down incoming projectiles.

Anti-Drone Defenses

One of the defining features of the war in Eastern Ukraine is the use of drones by both sides, not to target high-value terrorists but to direct fire in the same way forces used the first combat aircraft in World War I.

The past has a funny way of re-inventing itself, says McMaster.

“I never had to look up in my whole career and say, ‘Is it friendly or enemy?’ because of the U.S. Air Force. We have to do that now,” said McMaster. “Our Air Force gave us an unprecedented period of air supremacy…that changed the dynamics of ground combat. Now, you can’t bank on that.”

Pro-Russian forces use as many as 16 types of UAVs for targeting.

Russian forces are known to have “a 90-kilometer [Multiple Launch Rocket System] round, that goes out, parachute comes up, a UAV pops out, wings unfold, and they fly it around, it can strike a mobile target” said Karber, who said he wasn’t sure it had yet been used in Ukraine.

Karber’s track record for accuracy is less than perfect, as writer Jeffrey Lewis has pointed out in Foreign Policy. At various points, he has inflated estimates of China’s nuclear arsenal from some 300 weapons (based on declassified estimates) to 3,000 squirreled away in mysterious tunnels, a claim that many were able to quickly debunk. In 2014, he helped pass photos to Sen. James Inhofe of the Senate Armed Services Committee that purported to be recent images of Russian forces inside Ukraine. It turned out they were AP photographs from 2008.

“In the haste of running for the airport and trying to respond to a last-minute request with short time fuse,” Karber said by way of explanation, “I made the mistake of believing we were talking about the same photos … and it never occurred to me that the three photos of Russian armor were part of that package or being considered.”

No Foolproof Technological Solution

All of these technologies could shape the future battlefield, but none of them are silver bullets, nor do they, in McMaster’s view, offset the importance of human beings in gaining territory, holding territory, and changing facts on the ground to align with mission objectives.

As the current debate about the authorization for the use of force in Iraq shows, the commitment of large numbers of U.S. ground troops to conflict has become a political nonstarter for both parties. In lieu of a political willingness to put troops in the fight, multi-sectarian, multi-ethnic forces will take the lead, just as they are doing now in Iraq and Syria.

“What’s necessary is political accommodation, is what needs to happen, if we don’t conduct operations and plan campaigns in a way that gets to the political accommodation,” he said. “The most important activity will be to broker political ceasefires and understandings.”

Sometimes that happens at the end of a tank gun...

TRUMPism and political multi-culturalism post Brexit

Posted: 26 Jun 2016 06:37 PM PDT

Brexit, like a Trump Presidency, is yet another broken cog shaking the Elite's machine towards global domination.  For better or worse, some are calling it a rise of 'populism.'  But at the end of the day, social unrest can be easily predicted and scientifically quantified.  The Elite are doing a poor job running the world.  From the French Revolution to the Onion revolution in India - studies have been done that correlate the simple common sense knowledge: when people are hungry, they fight.  Very rarely, such as in the case of the Bolshevik revolution in Russia, any drastic social reform is based on intellectual concepts.  Usually people are just hungry, fed up, angry, and displeased with their owners.  Over a period of 500 years, Feudalism simply changed forms, demographics changed, technology changed the way the people are goverened.  The world's richest lost $127 Billion on Brexit loss.  So what?  They made Trillions during the last decade.  Practically, very little has changed socially over this 500 year period - still there is a 1% of rulers that own and control the 99%.  The one percent movement should read history.  Again, with few exceptions such as Soviet Russia and a few others, the world has always been like this.  But during that time the Elite have learned a lot about people - and specifically what works and what doesn't.  People need entertainment, so they've made politics a circus.  People don't want to read books about a political ideology, or study philsophy, they want to watch TV.  Modern 'politics' is just another form of entertainment for the masses to keep them fat and happy.  In their lazy-boys loaded with Prozac, Alcohol, and high fructose corn syrup - they like to watch in Ultra High Definition - other people talk about their opinions.  It's a form of voyeurism (like sports), they don't actually want to participate in anything, that's the idea - just press play.  But animal planet- it just doesn't cut it.  People like drama, gossip, war, and natural disasters.  Hurricanes, Earthquakes, have great ratings.  

Tyler Durden keeps talking about how the net winner of the Brexit situation is Russia.  Well, recently, a local governor in Russia of Kirov region, has been caught 'red-handed' receiving a 400,000 Euro bribe.  This begs the question - how is America's freedom based, capitalist democracy any different from the current system in Russia, or in any other country for that matter?  When Russia had the soviet union, it was easier to compare and contrast the two political economic systems, because they were so different.  During Stalin, there wasn't any corruption, they were all killed.  But so were millions of innocents.  So what's the best way forward?  

First, we need to understand that Russia is like a big capitalist baby.  There really is freedom in Russia since the collapse of the Soviet Union - the problem is that - freedom means the freedom to shoot your enemies on the street.  It's not like the 90's - but still more like the Wild West, than in Britain, Germany, or America.  There's no bankruptcy court, no class action precedents, if you don't pay loans, banks may send out some rough looking guys to 'check up on you'.  The people who are alive now, they were alive during Soviet Union, either as adults or children.  They received in that time, some sort of government stamps, that they used to get products they needed such as food and basics.  Day to day life, wasn't so bad - people worked, with paid vacations.  Families would gather in cabins (dachas) near lakes during the summer, much like Americans do in the mid-west (Wisconsin).  They had a film industry.  Science, art, chess, and their own games like Gorodki.  Russia produced Europe's most advanced culture post World War 2, in many respects.  Anyway - the point is that just like today's Russia - most of what we know about Russia in the west is just wrong.  

In Russia, the system needs time to evolve (meaning, many generations).  There's babies being born now who will be the Edward Snowden of their system, the lawyers who will go to law school in New York to return to Moscow and create a securities class action litigation industry.  Why is corruption like this not possible in America today?  Well, for several reasons - one - there's a highly monitored electronic payments system that monitors politicians (in extreme cases of outright fraud).  Two, political watchdogs, action groups, and even the FBI will follow up on public corruption leads.  Why does America have all this?  Because public corruption was so bad in America, it even ruined our biggest cities.  Many Americans have never heard the name "Tweed" but they should know it:

Tweed was convicted for stealing an amount estimated by an aldermen's committee in 1877 at between $25 million and $45 million from New York City taxpayers through political corruption, although later estimates ranged as high as $200 million.

What Tweed did was create a roadmap for future corrupt politicians - what to do and what not to do.  For example, Tweed invented the idea of overbilling for simple jobs, such as $50,000 toilet seat:

....For example, the construction cost of the New York County Courthouse, begun in 1861, grew to nearly $13 million – about $178 million in today's dollars, and nearly twice the cost of the Alaska Purchase in 1867.[13][17] "A carpenter was paid $360,751 (roughly $4.9 million today) for one month's labor in a building with very little woodwork ... a plasterer got $133,187 ($1.82 million) for two days' work".[17]

But finally - it wasn't possible to sustain and social unrest ultimately caused the corrupt ring to unravel:

..Tweed's downfall came in the wake of the Orange riot of 1871, which came after Tammany Hall banned a parade of Irish Protestants celebrating a historical victory against Catholicism, because of a riot the year before in which eight people died when a crowd of Irish Catholic laborers attacked the paraders. Under strong pressure from the newspapers and the Protestant elite of the city, Tammany reversed course, and the march was allowed to proceed, with protection from city policemen and state militia. The result was an even larger riot in which over 60 people were killed and more than 150 injured.

It resulted in major reforms.  Of course, under such rule, the City of New York could not flourish, regardless of the economic strength.  

Thus, the city's elite met at Cooper Union in September to discuss political reform: but for the first time, the conversation included not only the usual reformers, but also Democratic bigwigs such as Samuel J. Tilden, who had been thrust aside by Tammany. The general consensus was that the "wisest and best citizens" should take over the governance of the city and attempt to restore investor confidence. The result was the formation of the Executive Committee of Citizens and Taxpayers for Financial Reform of the City (also known as "the Committee of Seventy"), which attacked Tammany by cutting off the city's funding. Property owners refused to pay their municipal taxes, and a judge – Tweed's old friend George Barnard, no less – enjoined the city Comptroller from issuing bonds or spending money. Unpaid workers turned against Tweed, marching to City Hall demanding to be paid. Tweed doled out some funds from his own purse – $50,000 – but it was not sufficient to end the crisis, and Tammany began to lose its essential base.

But even today, this game of cat and mouse continues, as a group close to the Bush family struggles to control electronic voting in America through Diebold:

Diebold: the controversial manufacturer of voting and ATM machines, whose name conjures up the demons of Ohio's 2004 presidential election irregularities, is now finally under indictment for a "worldwide pattern of criminal conduct." Federal prosecutors filed charges against Diebold, Inc. on Tuesday, October 22, 2013 alleging that the North Canton, Ohio-based security and manufacturing company bribed government officials and falsified documents to obtain business in China, Indonesia and Russia. Diebold has agreed to pay $50 million to settle the two criminal counts against it. This is not the first time Diebold's been accused of bribery. In 2005, the Free Press exposed that Matt Damschroder, Republican chair of the Franklin County of Elections in 2004, reported that a key Diebold operative told Damschroder he made a $50,000 contribution to then-Ohio Secretary of State J. Kenneth Blackwell's "political interests" while Blackwell was evaluating Diebold's bids for state purchasing contracts. Damschroder admitted to personally accepting a $10,000 check from former Diebold contractor Pasquale "Patsy" Gallina made out to the Franklin County Republican Party. That contribution was made while Damschroder was involved in evaluating Diebold bids for county contracts. Damschroder was suspended for a month without pay for the incident. Despite the scandal, he was later appointed as Ohio Secretary of State Jon Husted's Director of Elections.

Corruption is not possible in America, as what happened in Kirov, Russia recently.  But one reason, it's because America has made an industry out of corruption it's called "lobbying."  Capitalism has created a democracy such that- one dollar = one vote.  America is free, but people choose to watch TV and become programmed zombies.  If you believe in the free press, if you believe in democracy, read this true life story about a hacker who fixed elections in South America:

When Peña Nieto won, Sepúlveda began destroying evidence. He drilled holes in flash drives, hard drives, and cell phones, fried their circuits in a microwave, then broke them to shards with a hammer. He shredded documents and flushed them down the toilet and erased servers in Russia and Ukraine rented anonymously with Bitcoins. He was dismantling what he says was a secret history of one of the dirtiest Latin American campaigns in recent memory.

For eight years, Sepúlveda, now 31, says he traveled the continent rigging major political campaigns. With a budget of $600,000, the Peña Nieto job was by far his most complex. He led a team of hackers that stole campaign strategies, manipulated social media to create false waves of enthusiasm and derision, and installed spyware in opposition offices, all to help Peña Nieto, a right-of-center candidate, eke out a victory. On that July night, he cracked bottle after bottle of Colón Negra beer in celebration. As usual on election night, he was alone.

Not in America?  Remember - our recent account of Tweed.  So, while corruption like what happened recently in Kirov is not possible- it is however possible for a family to become billionaires with their power while in office, in a string of odd 'coincidences.' (i.e. Clinton, Bush)  They can't make bribes - but they can trade favors, they can do power-broking.  

So, has anything really changed in America?  Special interest groups dominate the political scene - along with lobbyists, foreigners, and others with a political agenda.  But isn't that a natural evolution of capitalism?  Those who amass wealth ultimately buy the system that ensures their dominance?  And that includes the political system.  

How to stop corruption?

Ultimately, if corruption is out of control - the only way to stop it is with a mass of angry villagers with pitchforks.  Whether it be the riots that stopped Tweed, or the million man march in Washington DC - this is the only real change.  Protests, political action groups, lawsuits, are a step in the right direction, but by themselves meaningless.  Corruption can be stopped only by exposing the corruption first, and then by presenting with a solution.  Without a solution then the corrupt politicians will just be replaced with another corrupt politician.  Is a Trump presidency a start to shake up that status quo?  Trump supporters think so.  Will the election be fixed?  Well, the Republican party is already trying to change the rules, that they won't let Trump on the ballot.  One delegate of the RNC is suing on grounds that Trump isn't fit to be President:

Correll is bound to vote for Trump on the first ballot at the convention. Trump won Virginia's primary on Super Tuesday.

"Correll believes that Donald Trump is unfit to serve as President of the United States and that voting for Donald Trump would therefore violate Correll's con

China Devalues Yuan Most In 10 Months As Premier Li Warns Of Brexit "Butterfly Effect" On Financial Markets, Economy

Posted: 26 Jun 2016 06:19 PM PDT

In a somewhat shockingly honest admission of the frgaility of the global financial system, Chinese Premier Li warns that a disillusioned British butterfly has flapped its wings and the entire global financial system could collapse. Responding to the plunge in offshore Yuan since the Brexit vote (down 7 handles to 5-month lows over 6.65), PBOC devalued Yuan fix by 0.9% (6 handles) - the most since the August crash - to Dec 2010 lows. Finally, we note USD liquidity pressures building as EUR-USD basis swaps plunge.

Offshore Yuan is 3 handles cheap to onshore Yuan and 9 handles cheap to Friday's fix...

And so PBOC was somewhat forced to devalue yuugely...

  • *CHINA WEAKENS YUAN FIXING BY 0.9%, MOST SINCE AUGUST
  • *PBOC TO INJECT 270B YUAN WITH 7-DAY REVERSE REPOS: TRADER

 

While Chinese stocks remain 'stable' (despite Goldman suggesting more pain is due - regional cost of equity to rise 50-75bps as risk appetite shrinks after Brexit, equal to 5%-10% index decline), the less managed rest of the world is struggling and China knows it...

Premier Li Keqiang said an increase in instability in a particular country or region could trigger the "Butterfly Effect," which could, in turn, affect the global economic recovery and financial market stability, according to comments posted on Chinese central govt’s website.

 

All economies highly dependent on each other and no country can manage alone, Li said during meeting with WEF executive chairman Klaus Schwab in Tianjin.

 

Li called on all nations to enhance coordination and work together to address difficulties.

The shift in the Yuan Fix (red) seemed clear from the collapse in offshore Yuan... CNH > 6.65 (7 handles weaker than pre-Brexit)

 

Here's why Americans might want to care about this Brexit butterfly and China crash...

 

Finally, we note that USD liquidty needs are getting very serious as EUR-USD basis swaps surge lower indicating major USD demand...

Brexit vote in the U.K., Prophecy of the Third Horseman, King James Bible Code

Posted: 26 Jun 2016 05:30 PM PDT

The Brexit vote in the U.K. Britain (England) to leave the EU, and the Prophecy of the Third Horseman Economic Chaos, and the King James version Bible Code. Will economic recession result in 2016 - 2017? The Financial Armageddon Economic Collapse Blog tracks trends and forecasts ,...

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Avery Goodman: What market manipulators have in mind for the UK and the world

Posted: 26 Jun 2016 05:25 PM PDT

8:24p ET Sunday, June 26, 2016

Dear Friend of GATA and Gold:

Securities lawyer and market analyst Avery Goodman writes today that governments and investment banks knew very well that Britain was likely to vote to withdraw from the European Union and on the eve of the referendum manipulated markets up (stocks) and gold (down) to dispel fear. Now, Goodman writes, the financial elite will smash the British pound down beyond all reason to punish the country. But, he adds, Britain is leading the world back toward democracy. His commentary is headlined "What Market Manipulators Have in Mind for the U.K. and the World" and it's posted at his Internet site here:

http://averybgoodman.com/myblog/2016/06/26/what-market-manipulators-have...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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Gold will have its revenge against the elites, von Greyerz tells KWN

Posted: 26 Jun 2016 05:06 PM PDT

8p ET Sunday, June 26, 2016

Dear Friend of GATA and Gold:

Gold fund manager Egon von Greyerz tells King World News today that Britain's declaration of independence from the financial elites is only the beginning of a popular rebellion that will be fatal to those elites and their currencies and that gold will have its revenge against them. An excerpt from the interview is posted at KWN here:

http://kingworldnews.com/a-stunning-email-about-brexit-vote-as-elites-pa...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

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 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:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Leo Zagami announces Italexit

Posted: 26 Jun 2016 05:00 PM PDT

Brexit causes Turbulent crash for the EU, Whose next? The mondalists are scrambling! GO TRUMP. The latest from Leo Zagami The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers...

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Sins Of The World - June 2016 (Part 5) Strange End Times Signs HD

Posted: 26 Jun 2016 04:30 PM PDT

Sins Of The World - June 2016 (Part 5) Strange End Times Signs HD The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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Top 10 Apocalyptic/ Dystopian Movies

Posted: 26 Jun 2016 04:00 PM PDT

Here are my top 10 favorite apocalyptic/ dystopian films, what are yours? The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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Central Bankers Will Take Revenge On Brexit - Global Economic Crisis 2016

Posted: 26 Jun 2016 03:30 PM PDT

The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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BREXIT is Just the Beginning! - Marin Katusa Interview

Posted: 26 Jun 2016 01:00 PM PDT

Marin Katusa our top resource sector investing expert we're lucky enough to get him on to discuss the ramifications in world economics coming from the BREXIT Yes Vote. Discussed is how to best profit in the #1 safe haven Gold is, world currencies and mining stocks.TOPICS IN THIS INTERVIEW:00:55...

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BBC EU Referendum Result Highlights - YouGov, Markets, Bookmakers, Pollsters ALL WRONG!

Posted: 26 Jun 2016 12:40 PM PDT

Here are the key highlights I have picked form 8 hours of BBC coverage of the EU Referendum count that started shortly after 10pm as YouGov's poll effectively gave the referendum to REMAIN on 52% against LEAVE on 48% which even prompted Nigel Farage to effectively concede defeat at around 10.15pm, sending sterling soaring to its highest level against the dollar for 2016, and also triggering a sharp FTSE stock futures rally, which I will cover in-depth in an accompanying video on trading sterling and FTSE during brexit, until then here are the highlights of what happened after the polls closed on Thursday 23rd of June.

Gold Price Weekly COT Update

Posted: 26 Jun 2016 12:16 PM PDT

We received a batch of astounding numbers in this weeks’ COT report for not only silver, but also for gold. Guess what? Hedge funds are at a new all-time high on the long side exposure of gold.

BREXIT WTF Just Happened? What Comes Next?

Posted: 26 Jun 2016 12:00 PM PDT

There's panic in the streets... but I hope people calm their tits and realize this is a good thing. No more islam immigrants. That's always going to be a good thing. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative...

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Coast To Coast AM - June 25, 2016 The Billion Dollar Wreck

Posted: 26 Jun 2016 11:30 AM PDT

 Coast To Coast AM - June 25, 2016 The Billion Dollar WreckFifty miles off the coast of Nantucket, 250 feet beneath the Atlantic, lies the RMS Republic and her secret treasure. As soon as Republic sank, rumors spread of a precious cargo, but the ship has kept her secrets intact for over a...

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Brexit: The Collapse of the E.U. & EUROPE - What WILL EU do to "KEEP EU TOGETHER?"

Posted: 26 Jun 2016 10:58 AM PDT

Brexit: The Collapse of the E.U. and EUROPE - What WILL EU do to "KEEP EU TOGETHER?" The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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Breaking News And Best Of The Web

Posted: 26 Jun 2016 08:00 AM PDT

UK Votes to leave EU, markets stunned. Stocks plunge worldwide, gold soars, volatility spikes, pound tanks. Gold COTs are “over the top.” Central banks seem to be losing control of the narrative. Bitcoin jumps. Trump campaign in chaos while polls show dead heat in battleground states.   Best Of The Web Majority mad as hell […]

The post Breaking News And Best Of The Web appeared first on DollarCollapse.com.

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