Sunday, August 7, 2016

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Gold World News Flash


ITS COMING FOR AMERICA VENEZUELA FOOD CRISIS – Zoos Being Raided for Food. Collapse

Posted: 06 Aug 2016 09:00 PM PDT

ITS COMING FOR AMERICA VENEZUELA FOOD CRISIS – Zoos Being Raided for Food. Collapse 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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On This "Atom Bomb"-Anniversary, You're Being Lied To About Hiroshima (And Much More..)

Posted: 06 Aug 2016 07:25 PM PDT

Via The Daily Bell,

Japan marked the 71st anniversary of the atomic bombing of Hiroshima on Saturday by renewing calls for a nuclear weapons free world and urging leaders to follow the example of President Barack Obama and visit the bomb sites.  –Washington Post

It is the anniversary of dropping an atom bomb on Hiroshima. But the Hiroshima narrative is a lie.

We’ve reported at considerable length about how the whatever was dropped on Hiroshima and Nagasaki didn’t have the kind of immediate destructive impact that is portrayed.

Crawford Sams who ran the Atomic Bomb Casualty Commission in Japan had this to say about the bombing of Hiroshima and Nagasaki (Transcript HERE.) :

When the bomb went off, about 2 thousand people out of 250 thousand got killed [in Hiroshima] – by blast, by thermal radiation, or by intense x-ray, gamma radiation … You see, it wasn’t “Bing” like the publicity here [said]: a bomb went off and a city disappeared. No such thing happened. That was the propaganda for deterrent ...

 

When I came back to this country, I was appalled, from a military standpoint, to find that our major planners in the War Department were using their own propaganda, 100 thousand deaths, Bing! ...

 

You don’t hear much about the effects of Nagasaki because actually it was pretty ineffective. That was a narrow corridor from the hospital … down to the port, and the effects were very limited as far as the fire spread and all that stuff. So you don’t hear much about Nagasaki.

We’ve reported that a squadron of 66 bombers were launched on August 6th (666) to bomb the municipality of Imabari, even though Imabari. had been bombed already, twice.

This bombing squadron may well have fire-bombed Hiroshima instead, as Hiroshima was not far away.  HERE is a video on the squadron and also a narrative from a book by Edwin Hoyt entitled Inferno, the Firebombing of Japan.

Here is some narrative from a PERTINENT PAGE in the actual book.

“Suddenly,  one day, I was told something unexpected,” Manabe said. “When I was looking at the train timetable, I found that no trains stopped at Imabari station … I wondered why the third largest city in the province had no train service. It  sounded ridiculous...

 

The other guy said, “Wow! No Imabari Station. But … all the trains pass by Imabari Station.”

 

A third guy stepped up … “It’s not strange at all. There’s no stop because there’s no Imabari City anymore. It got burned up last April in the air raid … No buildings, no houses, no people … The whole city burned up and the people ran away …”

 

A fellow soldier explained to Manabe. “The air raids came on the 26th of April and the 8th of May. Imabari was burned up. My father was in business there. We had a wholesale draper business. All gone. All burned up.”

The attacks on Hiroshima and Nagasaki were horrible and tragic. But whether they were results of “atom” bombs (certainly in the sense that people understand them today) is at least seriously questionable.

More from the Post:

Quoting part of Obama’s speech in Hiroshima in May, Mayor Kazumi Matsui urged countries with nuclear weapons to “have the courage to escape the logic of fear, and pursue a world without them ...

 

“I once again urge the leaders of all nations to visit the A-bombed cities.”  Like Obama’s, he said that such visits “will surely etch the reality of the atomic bombings in each heart.”

Visiting Hiroshima and Nagasaki won’t etch anything into your heart but lies.

And the sickening falsehoods allow politicians a faux rhetorical nobility that they don’t deserve.

Whatever happened at Hiroshima and Nagasaki is nothing like what is being recited today.

Bikini Atoll, where additional atomic bombs were tested following the Hiroshima and Nagasaki attacks, was repopulated by 1968, even though radiation estimates suggested the island would be uninhabitable for a thousand years.

The actual bomb blasts seem to have been faked. Two years ago, the controversial but prolific investigator Miles Mathis – an artist and mathematician – published a debunking HERE entitled, The Bikini Atoll Nuclear Tests were Faked.”

...For more proof, we can go to Google. You can get a picture of the Bikini Atoll today from Google Earth. That’s dated 2013, not 1945. We are told the locals can’t live there now because of radioactivity, but we see at least three proofs against that.

 

...We see lots of plant life both on and offshore. Radioactivity affects plants just as it .affects animals, so the island should be barren.

 

Remember, the Bikini Atoll wasn’t said to be blasted by only Able and Baker. It was blasted 23 times, including three of the biggest blasts ever from US testing: the 4.5 megaton Navajo and the 5 megaton Tewa, in 1956; and the 15 megaton Bravo in 1954.

Why would Bikini Island tests have been faked if the bombs dropped on Hiroshima and Nagasaki were real?

Did the US suddenly run out of bombs?

And what about Russia? How did the USSR make nuclear bombs while the Pentagon was faking theirs?

Mathis writes some photographs of USSR nuclear explosions appear fake.

When did the USSR get the “bomb?” And even more importantly, when did the US finally create the weapons of mass destruction that so frighten us today?

When did the Cold War really start? Did both sides know that nuclear weapons were not as powerful as advertised? Or maybe that they didn’t exist at all as described?

Hiroshima and Nagasaki themselves are thriving small cities and there is no appreciable difference in radiation between these two municipalities and other cities in Japan.

Additional issues (See sources at the end of this article.):

  • Death rates at Hiroshima and Nagasaki are not higher than elsewhere.
  • Three days after the Hiroshima bombing, a trolley was running again.
  • The bank at “ground zero” remains standing to this day.
  • Eight Jesuits hiding in their church survived the blast at ground zero to tell the tale – spared only by the intervention of the Virgin Mary.
  • Outside of the Jesuits, and one communist reporter who hated the US, there was no significant reporting from either Hiroshima or Nagasaki for at least a month.
  • For years in both Japan and the US, it was a crime punishable by death to speak or write about the bombings.
  • The entire atom bomb narrative created by the Pentagon was delivered to the public via a single writer from the New York Times who later turned out to be on the Pentagon payroll.

The narrative of the bombings was surely shaped just as the Pentagon and its controllers wished for it to be. It was acquiesced to by the Japanese government that had its own reasons for promoting nuclear untruths.

Whatever happened at Hiroshima and Nagasaki has not been accurately reported. In fact, it is probably not too strong to say that what has been reported may constitute (in aggregate) one of the most profound lies of the 20th century.

It calls into question further “truths” about Western society that we live with to this day.

Nuclear weapons are a perfect propaganda for the state.

-Their tests cannot be ascertained at close range because they are too powerful.

 

-Their inner workings cannot be disseminated because they are “top secret.”

 

-Their programmatic elements cannot be observed by the normal media because too much information available to the public can stimulate adversarial or even terrorist activity.

Modern Western society is a virtual tissue of lies designed to make you believe you are living in a “civil society” (no, it’s not civil) faced by life-threatening challenges that only Western governments and the shadowy powers behind them can overcome.

The world is not running out of food, nor water. It’s not going to burn to a cinder because the air is clogged with “carbon.”

The economic disasters we face are purely man-made. Absent monopoly central banking, they would not exist.

Now we are facing “radical Islam” – another false narrative put in place by the same banking elite that has tortured the West for centuries.

This follows on the heels of numerous, serial US wars and the obscene, manufactured Hell of World Wars One and Two.

Thank goodness for the Internet and what we have called the Internet Reformation.

Thanks to information that has emerged from secret recesses (and the patterns they portray), we know more about the Way the World Really Works  than any single group of individuals in recorded history.

Conclusion: It has been a great privilege to live in these unusual times. However, please take note: The reality of the world has revealed a titanic struggle between good and evil. Which side are you on? And just as importantly, what are you going to do about it?

*  *  *

Some Nuclear Anomalies and Sources Pertaining to Questionable Hiroshima and Nagasaki Events

  • The dreaded mushroom cloud presented by the Hiroshima memorial is actually a photo of Hiroshima on fire. HERE.
  • A squadron of 66 bombers was directed to Imabari. in the early morning of August 6 (666) – the morning of the A-bomb – but Imabari. had been bombed already, twice. This bombing squadron might have fire-bombed Hiroshima instead. HERE.
  • Initial reports in Japan were that Hiroshima was firebombed. AP filed the same report. HERE.
  • In the aftermath of the explosion, Hiroshima (and Nagasaki) look no different than Tokyo after it was firebombed. HERE and HERE.
  • In Hiroshima numerous buildings are standing along with erect tree stumps. HERE.
  • Limited trolley service was revived in Hiroshima after only three days. HERE.
  • The Hiroshima bank at the epicenter of the bomb is fully functional and can be seen HERE.
  • Predictions of endless radiation poisoning for thousands of years proved untrue. Today, Hiroshima and Nagasaki’s radiation levels are normal.  HERE.
  • Outdoor shadows and other dramatic evidences of the Hiroshima bombing seem to be faked. HERE.
  • The initial American reporting on Hiroshima and Nagasaki bombs  came from Wilfred Burchett and William L. Laurence. One was a communist (Burchett) who hated America and reportedly ended up on the Kremlin’s payroll. HERE.
  • The other was secretly a paid employee of US armed forces. He was the man who rode with the crew to witness the nuke dropped on Nagasaki. His report on the attack is painful to read for all the wrong reasons. HERE.
  • Laurence was also the only reported to cover the development of the atomic bomc, see the initial bomb testing (from 20 miles away) and to report from Nagasaki. In other words, only one reporter, paid by the US war dept, provided the entirety of the initial civilian narrative for the testing of nuclear devices and then bombing of Nagasaki. Just one. It was roughly the same at Hiroshima and Nagasaki. Reporters were not allowed to visit. HERE.
  • Military officers were asked to exaggerate the injury count.
  • Hiroshima and Nagasaki were apparently shut down for months. There was no influx of Western reporters. The nuclear narrative was developed by the Pentagon from what we can tell. HERE.
  • It was immediately made a crime punishable by death in both the US and Japan to discuss nuclear attacks and the technology  that created them. (“The restricted dataclauses of the US Atomic Energy Act specifies that all nuclear weapons-related information is to be considered classified unless explicitly declassified, and makes no distinction about whether said information was created in a laboratory by a government scientist or anywhere else in the world by private citizens.”) HERE.
  • As for Little Boy, the bomb dropped on Hiroshima, photos show it seems to lack the necessary antennas to function. HERE.
  • There were apparently several Little Boys of various sizes, not just one. HERE.
  • The narrative surrounding the dropping of the Hiroshima bombing is reportedly inaccurate. “Levers” were “pulled” to drop the bomb, but the automatic system did the job. HERE.
  • The automatic targeting system itself was an inaccurate device that reportedly might drop bombs miles from where the pilot hoped to deliver them. The odds that both bombs ended up delivering effective blasts are surprisingly low.
  • The Nagasaki bombing narrative was confused for decades. The story kept changing. Even the pilot was misidentified. The crews were switched. HERE.
  • The photos of the Nagasaki mushroom cloud are suspicious. They appear to be composite images with cloud cover inserted to ensure that identification of Nagasaki is impossible. HERE.  Other Nagasaki photos appear fake.
  • One of the two famous and supposedly identical photos of the Nagasaki mushroom cloud includes part of a plane. One of the photos is thus fake, or at least retouched. HERE.
  • For events of such magnitude, there are surprisingly few eyewitness accounts of the actual blast. Many eyewitness accounts start the day after the blast or during the firestorm. Only a few Japanese survivors have stepped forward to become regular “faces” of the blast.
  • There don’t seem to be any civilian photos of either mushroom cloud taken by Japanese civilians or even military facilities. This one HERE looks evidently faked.
  • Much of the Western Hiroshima narrative regarding the blast was developed by a single Jesuit priest who, along with other Jesuits, had survive at the epicenter of the blast through the intervention of the Virgin Mary. HERE.
  • The eyewitness accounts of the blast itself have a repetitive and artificial quality to them, at least the ones we read. One doctor claims to have treated 2000-3000 injured on the first day. HERE.

There are other disturbing elements to the Nagasaki and Hiroshima bombings, and if you are interested, you can see more documents calling many elements of the attacks into question HERE.

See information on an alternative theory regarding nuclear weapons HERE:

Additional DB Nuclear Articles to Share (With Links)

North Korea Nuclear Hoax Heightens Alternative Media Skepticism March 10

The Trillion Dollar Nuclear Weapons Fraud April 15

NASA and Nuclear Activities: More Scrutiny Needed May 25

NY Times Uses Hiroshima to Justify Gun Control, Even as More Evidence Questions A-Bomb Scenario June 15

NY Times: Hiroshima Mushroom Cloud Actually ‘Smoke from Raging Firestorm’ June 20

Brexit’s Modern Manipulation and Its A-Bomb Beginnings June 29

Pentagon’s Not Properly Funding Its Trillion-Dollar Nuclear Costs July 1

More Nuke Que

Visualizing 31 Incredible Facts About Gold

Posted: 06 Aug 2016 05:40 PM PDT

No metal can claim a legacy comparable to gold.

As VisualCapitalist's Jeff Desjardins notes, gold has been used to show affectionate love, but it has also represented power, status, and riches for the greatest kings of antiquity. Gold’s history is truly legendary, ripe with colorful tales and anecdotes from people ranging from William Shakespeare to Christopher Columbus.

But gold doesn’t just “talk the talk”.

Gold also walks the walk, because its grandeur is backed up by impressive chemical properties and uses. As we documented in our extensive Gold Series, it’s been used as a monetary metal for thousands of years by ancient civilizations such as the Lydians, Greeks, Chinese, and Romans. It’s the most malleable and ductile metal, and it doesn’t tarnish or corrode. Over time, these properties have helped people to associate gold with concepts such as immortality or royalty.

Even today, people are still finding new uses for gold that are impressive in their own right. For example, scientists recently discovered a gold alloy that is four times tougher than titanium.

Without further ado, here are 31 incredible facts about gold...

Courtesy of: Visual Capitalist

Harry Dent Global Economic Collapse is Near 2016-2017 Crash Report

Posted: 06 Aug 2016 05:21 PM PDT

Harry S. Dent Harry S. Dent Jr. The Great Depression Ahead Harry S. Dent, Jr. is the Founder and President of the H. S. Dent Foundation, whose mission is "Helping People Understand Change". Using exciting new research developed from years of hands-on business experience, Mr. Dent offers a...

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The Coming Global Economic Crash Is Just A Matter Of Time

Posted: 06 Aug 2016 04:44 PM PDT

Easy money policies can't last forever. And any attempt to prolong these artificially low interest rates will result in hyperinflation, which will amount to a complete breakdown of the US financial system, not to mention social chaos. The Financial Armageddon Economic Collapse Blog...

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Why Oil Under $40 Will Bring It All Down Again: That's Where SWFs Resume Liquidating

Posted: 06 Aug 2016 04:30 PM PDT

After several months of aggressive selling of stocks in late 2015 and early 2016, the culprit for the indiscriminate liquidation and concurrent market swoon was revealed when it emerged that the seller was not only China (which was forced to sell USD-denominated reserves to offset a surge in capital outflows following the Yuan devaluation), but also Sovereign Wealth Funds belonging to oil-exporting countries, who were dumping billions in risk assets to offset the collapse of the price of oil, which in turn exacerbated current account and budget deficits.

Among the prominent sellers was Norway and Saudi Arabia, arguably the biggest casualties of the death of the Petrodollar to date, as well as Abu Dhabi, Kuwait and most other SWFs, listed on the tabel below.

 

As JPM calculated back in January, the SWF equity selling was inversely proportional to the price of oil: according to the bank, SWF's would liquidate some $75 billion in equities in 2017 assuming oil at $31 per barrel. Needless to say, the lower oil goes, the more selling there would  be. 

"This prospective $75bn of equity selling by SWFs in 2016 is not huge but becomes significant after taking into account the potential swing in equity fund flows," JPM continued, in an attempt to discuss the impact this will have on markets. "Last year retail investors bought $375bn of equity funds globally. This year we expect an amount between 0 and $200bn. Subtracting $75bn of selling from SWFs would leave the overall equity flow from Retail+SWF investors barely positive for 2016."

Then starting in February, oil - which had just tumbled to the low-$20s, its lowest price in over a decade - underwent a miraculous surge catalyzed by erroneous, if constantly reiterated, narrative of an imminent OPEC supply cut, a short squeeze, an algo stop hunt, an unprecedented Chinese importing spree to replenish its now almost full Strategic Petroleum Reserve, and even speculation of central bank intervention to prop up the "black gold." In fact, just a few months after February, oil had doubled, reaching $50 even as we and many others warned, that there simply is not enough demand and far too much supply to sustain such a price.

No matter the cause, the biggest benefit of this oil surge is that the same SWFs which were actively selling stocks in early late 2015 and early 2016 put their liquidation on hold as oil rose above $40. And in this illiquid, low volume market, the absence of a determined seller is all that it took to push the S&P to all time highs, and as of Friday's close, just shy of 2,200, a level which even sellside brokers such as Goldman believe is effectively in bubble territory and in the 99% percentile of all overvalued metrics. 

However, just a few weeks later we are now back in a crude bear market, with oil briefly dipping under $40, on the back of concerns about a gasoline glut and fears that the resurgent dollar will further pressure oil. Worse, with oil returns back to the $40 range and threatens to accelerate the move to the downside, it also brings back with it the specter of SWF liquidations, because as JPM's Nikolaos Panigirtzoglou points out in his latest weekly note, that's where the wealth fund selling returns. 

Here is why as oil approaches $40, the price of crude suddenly matters a lot to equity bulls:

We had noted in F&L April 22nd what the impact would be of a $45 average Brent oil price on SWF behavior. At the time, we noted that the stability in oil prices meant that the pressure on SWFs to abruptly sell assets would diminish over time. In addition, we argued that SWF selling should focus more on fixed-income securities during the last three quarters of the year, given that SWFs mostly liquidated equity and HF mandates during last year and the first quarter of this year. However, given recent declines in oil prices, we revisit the analysis assuming an average oil price of $40 for 2016 vs $45 before. The YTD average has already fallen to $42.

 

In our previous analysis based on a $45 average oil price for 2016, we projected the current account balance for oil-producing countries to worsen from around -$70bn in 2015 to -$140bn in 2016. This estimate is based on the same sensitivity of the current account balance to the change in oil prices as last year, i.e. between 2014 and 2015. However, the depletion of official assets could be higher than the current account deficit if these countries also experience capital outflows as it happened last year. If we assume $80bn of capital outflow for 2016, the same level as last year, we project a depletion of $150bn in FX reserves and a depletion of $50bn in SWF assets.

 

If we assume an average oil price of $40 for 2016 instead, using a similar sensitivity analysis and assumptions as described above, we project the current account balance for oil-producing countries to worsen from around -$70bn in 2015 to -$183bn in 2016. This would imply depletion of $170bn in FX reserves and a depletion of $75bn in SWF assets.

 

The differences in the SWF selling using the two different average oil price assumptions can be seen in Figure 9.

 

 

A $40 average oil price, and assuming that these reserve managers and SWFs sell in accordance to their average allocation, would imply selling of $118bn of government bonds and $45bn of public equities. If we assume reserve managers and SWFs are mostly done with selling equities and that they are more likely to liquidate fixed-income mandates, this would imply selling of around  $120bn-$160bn of government bonds and $10bn-$15bn of corporate bonds. However, should oil prices continue to fall further below $40 on a sustained basis, SWFs would face greater pressure to sell equity mandates, similar to the end of last year and the beginning of this year.

Indeed: the lower the price of oil drops, the faster what until recently had been a paradoxical disconnect (and even a negative correlation between oil and risk assets as we showed earlier), will recouple. And it's not just the SWF selling: recall that earlier this week, JPM's head quant Marko Kolanovic warned that should oil return back to the $30s, it would also trigger program selling of stocks.

CTA signals for oil recently turned from strongly positive to moderately negative. This has contributed to past-month divergence between S&P 500 and oil (~1.5 standard deviations) and is closely monitored by equity and high yield credit investors. It is our view that the risk of CTAs significantly increasing oil shorts over the next 1 month is low. For oil momentum to further deteriorate, oil would need to drop to ~$30 at which point the medium term momentum (strongest signal) would turn negative and trigger selling.

To summarize, if oil were to drop back under $40, not only would it precipitate even more selling of oil as momentum strategies flip, but it would catalyze a liquidation by those SWFs who thought they were done selling equities, leading to a return of the same sellers that pushed the S&P back to the low 1,900s a short 6 months ago.

So for all those curious where stocks are going next, the simple answer is: keep an eye on what oil does next.

Hillary Clinton: "I May Have Short-Circuited The Truth" About The Email Scandal

Posted: 06 Aug 2016 04:10 PM PDT

One of the biggest surprises over the past week was Donald Trump's dramatic meltdown, and subsequent escalation, with the family of Humayun Khan, the US Muslim captain killed in Afghanistan in 2014, who during the DNC, tangentially accused Trump and his potential policies of being responsible for their son's death (he wasn't). What is most striking is that instead of ignoring this attempt to bait the Republican candidate in public, to which he most gladly obliged, he should have simply moved on and stayed on the offensive, pressing Hillary over the recent Wikileaks disclosure revealing the cronyism and corruption within the Democratic Party, as well push the familiar narrative of her email scandal.

Conveniently, Hillary helped him do just that yesterday, when she acknowledged on Friday afternoon that she may have "short-circuited" when she claimed in recent interviews that FBI Director James Comey said she was "truthful" about her use of a private email server as secretary of state.  In doing so Hillary once again shifted the news spotlight away from Trump and back on to herself, as she once again revealed that the only consistent thing about Hillary Clinton are the constant lies.

Following a heavily covered interview with Fox News' Chris Wallace, Hillary stated that Comey had found her statements "truthful" and "consistent" with what she has said publicly. Clinton's lying led The Atlantic to publish an article titled " Why Can't Hillary Clinton Stop Lying?" and the Washington Post's fact checker Glenn Kessler awarded her four "Pinocchios", adding that "Clinton is cherry-picking statements by Comey to preserve her narrative about the unusual setup of a private email server. This allows her to skate past the more disturbing findings of the FBI investigation." Notably, the NYTimes did not publish anything related to this flop and it took the Public Editor, whose job it to be the readers' advocate at The NYT, to write an op-ed titled The Clinton Story You Didn't Read Here.

After an almost universally bad week for her opponent Donald  Trump, Hillary went out of her way once again to explain away her home-brew server, only this time it led to a less than favorable outcome.

Clinton insisted in two televised interviews aired this week, including one with Fox News' Chris Wallace aired Sunday, that Comey had found her statements "truthful" and "consistent" with what she has said publicly. The Democratic nominee, speaking at a joint convention for African-American and Hispanic journalists, remarked that she was "pointing out in both of those instances that the Director Comey had said that my answers in my FBI interview were truthful."  She then reiterated the "truthful" assessment in an interview with a Colorado television station later in the week.

According to Politico, Hillary stressed that "that's really the bottom line here. And I have said during the interview and many other occasions over the past months, that what I told the FBI, which he said was truthful, is consistent with what I have said publicly," Clinton explained Friday. "So I may have short-circuited it and for that, I, you know, will try to clarify because I think, you know, Chris Wallace and I were probably talking past each other because of course, he could only talk to what I had told the FBI and I appreciated that."

"But I do think, you know, having him say that my answers to the FBI were truthful and then I should quickly add, what I said was consistent with what I had said publicly. And that's really sort of in my view trying to tie both ends together," she added.

Notice the difference between her original statement and revision. In the first one, James Comey confirmed her statements about her email setup were consistent and truthful. In her revision, the FBI director confirmed that what she told the FBI was truthful. Perhaps because lying to the FBI is a crime but lying to the American population is not?

Her word choice of "short-circuiting" confirms what many voters in this election feel about Hillary. Her answers are memorized, poll tested and scrutinized by hundreds of staffers, almost in a robotic fashion, to ensure she does not "bend" the truth. This is why Hillary does a press interview every 240 days at best

Finally, having finally found a new opening to dig itself out of the hole it has found itself in, Donald Trump's campaign laced into Clinton over her latest "pretzel-like response."

"Hillary Clinton's habitual lying about the use of her secret server to send and receive classified, top secret information shows her blatant disregard for national security and a continued pattern of bad judgment," senior communications adviser Jason Miller said in a statement. "Clinton knows the actions she has taken are disqualifying for someone wishing to become commander-in-chief, and that is why today's painful, pretzel-like response to a simple question about her illegal server was obvious to everyone watching."

Now the only question is whether Trump can keep his mouth shut long enough to give Hillary more chances to stick her foot in hers, and do to her own polling what Trump has been so eager to do to his over the past two weeks.

The Kennedy Assassination | Declassified

Posted: 06 Aug 2016 04:00 PM PDT

Learn everything you need to know about The Kennedy Assassination in this Declassified episode. 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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Is Economic Collapse Inevitable? | Mike Maloney and Stefan Molyneux

Posted: 06 Aug 2016 03:30 PM PDT

Is an economic collapse inevitable? Mike Maloney joins Stefan Molyneux to discuss the precarious state of the modern banking system, what they don't tell you about the cycle of inflation/deflation, the negative impact of current monetary policies on the poor and much much more! Michael Maloney is...

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MF Global 5 Years Later: PWC Set To Take The Fall As Corzine Still Untouched

Posted: 06 Aug 2016 03:19 PM PDT

Jon Corzine, former Governor of New Jersey and CEO of Goldman Sachs, took over the helm of MF Global in March 2010.  When revenue at the bank failed to live up to expectations, Corzine developed a scheme to place a massive $6BN bet on the sovereign debt of the aptly named PIIGS (Portugal, Italy, Ireland, Greece, Spain) through a financial structure known as a "Repo to Maturity".  To summarize the strategy for all you aspiring CEO's, when you find it difficult to generate organic revenue growth sometimes the better option is to just bet your entire firm on a single, massively-levered trade on the sovereign debt of countries on the verge of insolvency. 

Well, not so much.  Deterioration of the Eurozone economies in mid-2011 resulted in massive margin calls on Corzine's trade and a liquidity crisis at MF Global.  By the time the dust settled there was $1.6BN of cash "missing" from customer accounts which should have been segregated.  And with that, less than 2 years after Mr. Corzine took the CEO seat, MF Global filed for bankruptcy protection on October 31, 2011 in the Southern District of New York. 

We know what you're thinking...sounds reckless to risk an entire firm on the highly volatile sovereign debt of a group of countries labeled the "PIIGS", right?  Well apparently it's not that big of a deal unless you're the scapegoat accountants.

Yesterday, U.S. District Court Judge Victor Marrero of New York denied PwC's motion for dismissal of a $1 billion professional malpractice suit filed by MF Global against the accounting firm saying that the administrator had "presented sufficient evidence to create a material factual dispute" as to whether advice from PwC ultimately played a role in the bankruptcy filing.  According to the WSJ:

MF Global sued PwC in March 2014 for at least $1 billion, alleging that the firm's accounting advice helped cause MF Global's 2011 collapse. Officials in charge of MF Global's liquidation claimed PwC gave "flatly erroneous" advice on how to account for the European sovereign debt that tipped MF Global into bankruptcy.

 

MF Global's lawsuit against PwC claims the accounting firm's advice is what allowed Mr. Corzine to make such a big bet in the first place, a charge PwC has denied.

 

In a 69-page decision, the judge said the administrator "has presented sufficient evidence to create a material factual dispute" as to whether PwC's accounting advice played a role in MF Global's bankruptcy in the fall of 2011.

 

"This is a major victory for the MF Global estate," said Nader Tavakoli, MF Global's lead director. "It sends a strong message concerning the need for responsibility and accountability, and we hope to secure a substantial recovery for MF Global's stakeholders."

 

Daniel Fetterman, a lawyer from Kasowitz Benson Torres & Friedman LLP who is representing MF Global, called the ruling a "significant victory" in the legal fight.

 

"We look forward to presenting at trial the evidence concerning PwC's extraordinary and egregious malpractice alleged in the complaint and its role in causing MF Global's demise," he said.

For its part, PwC has maintained that reckless trading decisions and "adverse market conditions" were the real cause of the bankruptcy filing, not faulty accounting of the trades.

In response, James P. Cusick, PwC's lawyer, said the accounting firm stands by its work for MF Global, and that the commodity broker correctly accounted for the so-called repo-to-maturity transactions at issue in the lawsuit.

 

"MF Global's collapse was caused by its own business decisions and adverse market events, not any accounting determination" said Mr. Cusick, a litigator at King & Spalding.

Lesson learned.  If you commit a murder it's the gun's fault, if you gain 20 lbs it's the fork's fault and if you place a massively levered trade that blows up your firm then it's the accountant's fault.  After all, it's not the losses of a failed trade that caused the liquidity crisis at MF Global but rather the timing of the realization of those losses that are truly to blame.

As for Jon Corzine, last we heard he was trying to raise capital for a new hedge fund (one which may have trouble getting a primary dealer designation) and we are confident he will succeed for two reasons.

Reason #1:

 

And Reason #2:

* * *

For those interested, the full decision can be read below:

Pew Research Survey Points to Widespread Angst About How the EU is Handling the Refugee Crisis

Posted: 06 Aug 2016 03:00 PM PDT

by Michael Krieger, Liberty Blitzkrieg:

When the history books are finally written, I believe the tone-deaf handling of the refugee crisis by EU bureaucrats will be seen as one of the primary catalysts in the ultimate disintegration of the European Union.

Although I knew many millions across the eurozone were irate about how the refugee crisis was being handled, I had no idea how irate they were until I read the results of a recent survey by the Pew Research Center.

Below are some of the shocking findings.

A record 1.3 million migrants applied for asylum in the 28 member states of the European Union, Norway and Switzerland in 2015 – nearly double the previous high water mark of roughly 700,000 that was set in 1992 after the fall of the Iron Curtain and the collapse of the Soviet Union, according to a Pew Research Center analysis of data from Eurostat, the European Union's statistical agency.

Refugees did not disperse equally across Europe, with some countries taking in more asylum seekers than the European average. In 2015, the EU-28, Norway and Switzerland as a whole had 250 asylum applicants per 100,000 residents. By comparison, Hungary had 1,770 applicants per 100,000 people (the highest of any country) and Sweden had 1,600 applicants per 100,000 people. Meanwhile, Germany had 540 applicants per 100,000 people, still well above the total European rate. By contrast, France had only 110 applicants per 100,000 people in its total population in 2015 and the UK had only 60 asylum seekers per 100,000 people.

European publics have been far from satisfied with how the EU has handled the historic number of refugees arriving there. A spring 2016 Pew Research Center survey conducted across 10 EU member states following the EU-Turkey agreement found that majorities in each country disapproved of how the EU was dealing with the refugee issue.

Disapproval was generally greatest in countries with the highest number of asylum seekers in 2015. For example, 94% of Greeks and 88% of Swedes said they disapprove of how the EU has handled the refugee issue. Sweden received the third highest number of asylum applications in 2015. And while Greece was not the final destination for most refugees in 2015, it was their main point of entry, with about 850,000 arrivals in 2015 alone.

Even in countries with a lower number of asylees, disapproval of the EU's handling of the refugee issue was widespread, including in France (70%), the UK (70%) and the Netherlands (63%). And in Germany, which had the most asylum applications in 2015, fully two-thirds faulted the EU's approach to the refugee crisis.

Now here's the chart for a wider sampling of EU nations. Conclusion: No one is happy.

At the same time, half or more in eight of the 10 EU countries Pew Research Center surveyed this spring believe that incoming refugees increase the likelihood of terrorism in their country. Many Europeans are also worried that refugees will be an economic burden, with half or more in five nations saying that refugees will take jobs and social benefits.

Over half (53%) of asylum seekers to the European Union, Norway and Switzerland in 2015 were young adults – those ages 18 to 34. This was also generally the top age group among asylum seekers in Europe from the three leading origin countries. Roughly half of those from Syria (50%), Iraq (56%) and Afghanistan (45%) were young adults in 2015.

In addition, men made up nearly three-fourths (73%) of Europe's asylum seekers in 2015. Refugees from leading origin countries such as Syria (71%), Iraq (75%) and Afghanistan (80%) were also predominately male in 2015. By contrast, asylum seekers from other top origin countries, such as Gambia (97% male), Pakistan (95% male) and Bangladesh (95% male), were almost entirely male.

Read More @ LibertyBlitzkrieg.com

Gold And Silver Charts

Posted: 06 Aug 2016 08:45 AM PDT

Our pace for posting commentaries will slow down for August by design over the next few weeks, and for the last week of August, there will be no posting due to vacation time. This week, focus will be solely on the charts. There is so much going on in the world and with the Bread and Circuses election in the United States, the sum of which is enough to send the price of precious metals considerably higher, but the reality is price is still under the control of Chinese buying at bargain prices while the West’s central bankers try to keep alive the Ponzi scheme facade regarding gold and silver. The globalists behind the fiat curtain have been exposed for their financial and political chicanery to keep the vastly underwater banking system “alive and well,” yet the public has no unified voice to be so shocked by the extreme theft by the bankers and their political hacks, so the game plays on.

Revealing the Real Rate of Inflation Would Crash the System

Posted: 06 Aug 2016 08:00 AM PDT

This post Revealing the Real Rate of Inflation Would Crash the System appeared first on Daily Reckoning.

Our real-world experience tells us the official inflation rate doesn’t reflect the actual cost increases of everything from burritos to healthcare.

In our household, we measure inflation with the Burrito Index: How much has the cost of a regular burrito at our favorite taco truck gone up?

Since we keep detailed records of expenses (a necessity if you're a self-employed free-lance writer), I can track the real-world inflation of the Burrito Index with great accuracy. The cost of a regular burrito from our local taco truck has gone up from $2.50 in 2001 to $5 in 2010 to $6.50 in 2016.

That's a $160% increase since 2001; 15 years in which the official inflation rate reports that what $1 bought in 2001 can supposedly be bought with $1.35 today. This enormous loss of purchasing power is not reflected in the official measure of inflation, which claims inflation is subdued (1% or so annually).

If the Burrito Index had tracked official inflation, the burrito at our truck should cost $3.38 — up only 35% from 2001. Compare that to today’s actual cost of $6.50 — almost double what it "should cost" according to official inflation calculations.

Since 2001, the real-world burrito index is 4.5 times greater than the official rate of inflation — not a trivial difference.

Between 2010 and now, the Burrito Index has logged a 30% increase, more than triple the officially registered 10% drop in purchasing power over the same time.

My Burrito Index is a rough-and-ready index of real-world inflation. To insure its measure isn't an outlying aberration, we also need to track the real-world costs of big-ticket items such as college tuition and health insurance, as well as local government-provided services. When we do, we observe results of similar magnitude.

The takeaway? Our money is losing its purchasing power much faster than the government would like us to believe.

According to official statistics, inflation has reduced the purchasing power of the dollar by a mere 6% since 2011: barely above 1% a year. We've supposedly seen our purchasing power decline by 27% in the 12 years since 2004 — an average rate of 2.25% per year.

But our real-world experience tells us the official inflation rate doesn't reflect the actual cost increases of everything from burritos to healthcare.

The grim reality is that real inflation is 7+% per year.

What would happen if the real rate of inflation was revealed? The entire status quo would immediately implode. Consider the immediate consequences to Social Security, interest rates and the cost of refinancing government debt.

Unbiased private-sector efforts to calculate the real rate of inflation have yielded a rate of around 7% to 13% per year, depending on the locale — many multiples of the official rate of around 1% per year.

So what happens if the status quo accepted the reality of 7+% inflation? Here are a few of the consequences:

1. Social Security beneficiaries would demand annual increases of 7+% instead of zero or near-zero annual increases. The Social Security system, which is already distributing more benefit payments that it is receiving in payroll tax revenues, would immediately go deep in the red.

(Please don’t claim the SSA Trust Fund will be solvent for decades. I’ve dismissed the fraud of the illusory Trust Fund many times. The reality is the federal government has to borrow every dollar of deficit spending by Social Security by selling more Treasury bonds, just as it borrows every other dollar of deficit spending.)

The Social Security system would be revealed as unsustainable if real inflation (7+% annually) were made public.

2. Global investors might start demanding yields on Treasury bonds that are above the real rate of inflation. If inflation is running at 7%, then bond buyers would need to earn 8% per year just to earn a real return of 1%.

Central states are only able to sustain their enormous deficit spending because interest rates and bond yields are near-zero or even below zero. If the federal government suddenly had to pay 8% to roll over maturing government bonds, the cost of servicing the existing debt — never mind the cost of borrowing an additional $400 billion or more every year — would skyrocket, squeezing out all other government spending and triggering massive deficits just to pay the ballooning interest on existing debt.

Bond yields of 8+% would collapse the status quo of massive government deficit spending.

3. Private-sector interest rates would also rise, crushing private borrowing. How many autos, trucks and homes would sell if buyers had to pay 8% interest on new loans? A lot less than are being sold at 1% interest auto loans or 3.5% mortgages.

4. Any serious decline in private and state borrowing would implode the entire system. Recall that a very modest drop in new borrowing very nearly collapsed the global financial system in 2008-09, as the whole system depends on a permanently monstrous expansion of new borrowing to fund consumption, student loans, taxes, etc.

The grim reality is that real inflation is 7+% per year, and this reality must be hidden behind bogus official calculations of inflation as this reality would collapse the entire status quo.

Super-wealthy elites earning 10+% yields on stock, bond and real estate portfolios aren’t particularly impacted by 7% inflation; their real wealth continues to expand nicely.

Who’s being destroyed by 7+% real inflation? Everyone whose income has stagnated and everyone who depends on wages rather than assets to get by — in other words, the bottom 95%.

How come we haven't heard about that this election season?

Regards,

Charles Hugh Smith
for The Daily Reckoning

Ed. note: "A charmingly mordant take on the stock news of the day, accentuated by philosophical maunderings…" That's how one leading financial magazine described the free daily email edition of The Daily Reckoning. You'll find cutting-edge analysis from the complex worlds of finance, politics and culture. Presented in an entertaining style few can match. Click here now to sign up for FREE.

 

The post Revealing the Real Rate of Inflation Would Crash the System appeared first on Daily Reckoning.

Gerald Celente Globalists Are Going To Collapse World Economy

Posted: 06 Aug 2016 04:12 AM PDT

Gerald Celente Globalists Are Going To Collapse World Economy About Gerald Celente : Founder of The Trends Research Institute in 1980, Gerald Celente is a pioneer trend strategist. He is author of the national bestseller Trends 2000: How to Prepare for and Profit from the Changes...

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

Turkey to increase gold-storage capacity to become regional hub

Posted: 06 Aug 2016 03:25 AM PDT

Turkey to Increase Gold-Storage Capacity to Become Regional Hub

By Daily Sabah Staff with Anadolu Agency
Daily Sabah, Istanbul
Saturday, August 6, 2016

Borsa Istanbul Stock Exchange Chairman Himmet Karadağ said the gold-storing facilities that would ould increase Turkey's current capacity for storage of hidden gold ten-fold with a capacity to hold up to 1,600 tons of gold and silver will soon begin operating near Kuyumcukent in Istanbul.

"As in London, where gold bars of foreign countries are kept safe, [Turkey] aspires to have the same capacity [for gold storing] as well," Karadağ said.

... Dispatch continues below ...



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Speaking to Anadolu Agency, Karadağ emphasized that market capital and the stock exchange should be strengthened in terms of volume and product diversity, including Islamic finance within that scope. The chairman said that establishment of an International Advisory Council is crucial for drawing Gulf capital to Turkey, attracting Islamically sensitive investors and increasing product diversity.

Karadağ noted that they would pave the way for not only participating banks but also non-affiliated banks that stand to benefit from the council, which would set standards to aid in the production of Islamic financial products, as well as conducting audits of those standards. ...

... For the remainder of the report:

http://www.dailysabah.com/economy/2016/08/06/turkey-to-increase-gold-sto...

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Join GATA here:

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Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

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Help keep GATA going

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Breaking News And Best Of The Web

Posted: 05 Aug 2016 06:44 PM PDT

Good US jobs report — on the surface. Gold plunges, stocks jump. Oil hovers around $40. Bank of England cuts rates, UK bond yields plunge. European banks have investors running scared. Japan begins new round of stimulus. The Trump campaign may be collapsing. Swiss central bank keeps buying stocks.   Best Of The Web A […]

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

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