Sunday, September 25, 2016

Gold World News Flash

Gold World News Flash

Dollar Collapse Starts Sept 30? Gold Bull Will Rage — David Morgan

Posted: 24 Sep 2016 08:00 PM PDT


Posted: 24 Sep 2016 07:00 PM PDT

 Barrack Obama has vetoed a bill that would allow families of the 9/11 victims to sue Saudi Arabia. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and...

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As Euro, Yen And Dollars Fall Investors Will Turn To Gold

Posted: 24 Sep 2016 05:30 PM PDT

by Egon Von Greyerz, Gold Switzerland:

In my King World News audio interview early this week I discussed with Eric King how investors will flee from the major currencies into gold as the currencies start reflecting the imminent major money printing spree.

We also talk about the European banking system and Deutsche bank whose market cap is 1% of its balance sheet. I explain why there won't be bail-ins in any of the major banks and much more:

"As we get ready to enter the final quarter of 2016, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, just spoke with King World News about the roadmap to $10,000 gold and $1,000 silver.
Egon von Greyerz: "If you look at the euro, it's not going to survive. At some point European investors will realize that and they will flee the euro into gold. It's the same with the yen……"

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"Eight Election Trades For November 8th"

Posted: 24 Sep 2016 05:28 PM PDT

No matter the outcome of the presidential election, according to BofA's Chief Investment Strategist, Michael Hartnett, 2017 will likely be a year of small absolute returns as the bank expects higher rates will collide with high bond and equity valuations, but it will be a year of big rotations "as investors shift from ZIRP winners like bonds, US, growth stocks to ZIRP losers like commodities, banks and Japan", where BofA forecasts 20,000 on Nikkei, although for that to happen the currency would have to implode in what may be a terminal loss of faith in the central bank.

Still, with all attention now focused on the key risk event until a potential December rate hike, namely the November 8 presidential election, BofA provides 8 specific election trades for the election.

In a note titled "Eight election trades for Nov 8th", Hartnett shares a variety of trade ideas, some "election-specific and some result-dependent: long VIX futures; long AUDUSD vol; long TIPS;  long global E-commerce, short fast restaurants (inequality); long US materials and largecap banks (fiscal); long US small caps, short emerging markets (Trump protectionist); long gold, short EU banks (Trump geopolitics); long Mexican peso (Clinton victory)."

This is what he says:

On November 8th, the US Presidential election will take place. Below we list eight trades, all specific to the election, some applicable to whoever wins, some dependent on the election result:

Long VIX futures. It seems an obvious trade, but the election is likely to be close (see latest projected electoral college result - Chart 4). There could even be a statistical tie in the Electoral College if Trump wins FL, OH, NC, WI, IA, and Clinton wins PA, VA, CO, NV, MI, NH, arguably the most volatility-inducing event of all. VIX futures are the most liquid expression of volatility, and ahead of the first Presidential debate, the cost of a Nov'16 hedge has fallen to the 19th percentile vs. the past year.

Long AUDUSD volatility. One way to invest in a risk-off scenario in the event of a Trump victory is long AUDUSD volatility. In our most recent FMS, a Republican victory was seen as a much greater "tail risk" for markets than a Democratic win. Trump has a more protectionist stance, and has threatened import tariffs against China, a stance that would unsettle Asian FX markets. David Woo recommends buying AUDUSD volatility to hedge election uncertainty. AUDUSD volatility is correlated with quant-fund selloffs: it is a top hedge for our BofAML MAST index.

Long TIPS. Populism is on the rise across the globe and both candidates have redistributive policies targeted at raising wages and reducing inequality. This could lead to higher inflation. It could lead to stagflation. Either way, it will likely be positive for TIPS.

Long Main Street, short Wall Street. Both candidates want to boost Main Street rather than Wall Street and thus propose higher minimum wages, paid family leave and higher taxation on the rich. This would be positive for US municipal bonds (U0A0). Main Street-Wall Street pair trades: long global E-commerce (BIGECOM), short fast restaurants (BINAFCRC); long mass retailers (BRUSMASS), short luxury goods makers (SPGLGUP).

Long fiscal stimulus. Best way to leverage fiscal stimulus under either president is via infrastructure spending and defense spending. Clinton has proposed $1.65tn of additional fiscal spending and Trump has proposed $2tn, according to the justreleased Committee for a Responsible Federal Budget report; Congress-approved budgets are likely to be significantly lower. Nonetheless, the direction is clearly toward more fiscal stimulus. Long US aerospace & defense (S5AEROX), US materials (S5MATR), and large-cap banks (S5BANKX). Fiscal stimulus is the primary reason our rates strategists see higher US bond yields in 2017.

Protectionism pair-trade: anti-globalization is on the rise, and Trump has a more isolationist/protectionist agenda; our economists believe that the Trans-Pacific Partnership is at greater risk under Trump; a reduction in global trade would likely be most negative for EM and the mercantilist economies of Germany and Japan; should US protectionism lead to a bout of inflation in the US, we think US small caps would benefit from inflation and have less foreign exposure. In our view, the best protectionist pair trade: long US small caps (RTY), short emerging markets (MXEF).

Geopolitical pair-trades: a Trump win could mean lower capital flows to the US, a rise in Treasury yields, and a weaker US dollar, all of which would be positive for gold. A Trump victory would also raise expectations that populist parties in Europe in 2017 could rise to power and increase the European Union disintegration risk premium. Long gold, short European banks (SX7E).

Short USD/MXN on a Clinton victory as MXN appears 15% undervalued after better Trump polls. Long health care services (SPSIHPTR), short biotech (XNBI). Best way to leverage a Clinton win, with promised tax break for health care services versus higher pharmaceutical regulation.

Harry Dent September 2016 HOT Why The Stock Market will Crash

Posted: 24 Sep 2016 05:11 PM PDT

Alex Jones : The Biggest Economy Bubble Will Burst In 2017 Expert economist Harry Dent predicts the worst collapse in modern history is coming in 2017 The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative...

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U.S. Imports Record Amount Of Gold From Switzerland In July

Posted: 24 Sep 2016 04:30 PM PDT

by Steve St. Angelo, SRSRocco Report:

It seems as if the tide has changed as the U.S. imported a record amount of gold from Switzerland in July. Normally, the flow of gold from the United States has been heading toward Switzerland. For example, when the U.S. exported a record 691 metric tons (mt) of gold in 2013, Switzerland received 284 mt, which accounted for 41% of the total. Compare that to the paltry 3 metric tons of gold imported from Switzerland that very same year.

However, something has changed in the market dynamics as the U.S. imported a record 23.8 mt of gold from Switzerland in July:

As I stated in my previous article, WHAT'S GOING ON?? Record Swiss Gold Flow Into The United States: the Swiss exported 20.7 mt of gold in May 2016, up considerably from its monthly average 0.4 mt. Even though gold imports from Switzerland declined the next month to only 13.1 mt in June, they were still much higher than their monthly average going back until Jan. 2015.

But, as we can see… U.S. gold imports from Switzerland jumped 82% in July to 23.8 mt compared to June. There has been speculation in the precious metals community as to why the Swiss are now exported gold to the United States. While many theories seem plausible, the one that makes the most sense is that investors in Europe who have their gold stored in Switzerland are moving it to the United States to protect it from the implications of negative interest rates.

Furthermore, after the Brexit vote for the U.K. to leave the European Union (In June), it has also put a lot of stress on investors holding assets within the E.U. countries. For whatever reason, gold bullion is now flowing into the United States from Switzerland in record volume for the first time in many years.

This next chart shows the annual imports of gold from Switzerland going back until 2000:

As we can see, Switzerland's gold exports to the U.S. are already 60.7 mt in 2016, up more than 18 times the volume in 2015. Again, for whatever reason, Swiss gold is heading into the United States in record volume.

In addition, this is the first year the U.S. has imported more gold than it has exported in several years:

In 2012, the United States exported a record 693 mt of gold, while imports were only 332 mt. Even though the volume of U.S. gold exports declined in 2014 and 2015, they were still much higher than imports (62% & 86% respectively).

However, this has changed in the first seven months of 2016, as the U.S. has imported 249 mt of gold versus exports of only 190 mt. The majority of the increase of U.S. gold imports came from Switzerland. Of the 249 mt of U.S. gold imports Jan-July 2016, Switzerland accounted for 60.7 mt, compared to only 3 mt in 2015.

With the upcoming Chinese Yuan into the IMF SDR (Special Drawing Rights) on Oct 1st, the situation for the U.S. Dollar going forward will come under increased stress as global trade moves more into Chinese Yuan currency. This will negatively impact the U.S. Treasury holdings by foreigners as they move into owning more Chinese Yuan for trade.

The days of the U.S. Dollar Reserve currency status is coming to an end. It is no surprise that Russia and China continue to add a great deal of gold to their official holdings.

Lastly, I will be publishing a very important article on the precious metals next week. It will provide analysis on the top four precious metals (Gold, Platinum, Palladium and Silver) that most investors have not seen before. It will be out either Monday or Tuesday next week.

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Foreign Buying Plummets In Vancouver: Sales To Foreigners Crash 96%

Posted: 24 Sep 2016 04:28 PM PDT

China's favorite offshore money laundering hub is officially no longer accepting its money.

According to data released by British Columbia's Ministry of Finance on Thursday, foreign investors officially disappeared from Vancouver's property market last month after the local government imposed a 15% surcharge to curb a record-shattering surge in home prices. Overseas buyers accounted for a paltry 0.7% of the C$6.5 billion of residential real estate purchases in August in Metro Vancouver; this represents a 96% plunge from the seven weeks prior, when foreigners were responsible for 16.5% of transactions by value.

According to the latest data overseas buyers snapped up C$2.3 billion of homes in the seven weeks before the tax was imposed, and less than C$50 million in the next four weeks. The government began collecting data on citizenship in home purchases on June 10. The ministry said auditors are checking citizenship or permanent residency declarations made by buyers and also reviewing transactions to determine if any were structured to avoid tax (spoiler alert: most of them were).

Across the province, the participation of foreigners dropped to 1.4% of transactions by value in August, from 13% in the preceding seven weeks.

Prior to the new real estate tax home prices were almost double the national average of C$473,105; however we expect a sharp corretion in the coming weeks - as we pointed out at the beginning of September, the average price of detached Vancouver properties promptly crashed following the news tax, dropping 17% on the month, and 0.6% on the year, to C$1.47 million ($1.13 million) in August, wiping away one year of gains in a few weeks.

As Bloomberg notes, the plunge in foreign participation joins other signs of a slowdown in Canada's most expensive property market. 

The silver lining is that while transactions may have ground to a halt, the government did pick up some extra tax revenues: British Columbia has raised C$2.5 million in revenue from the new levy since it took effect. Budget forecasts released last week indicated that the Pacific coast province expects foreign investors to scoop up about C$4.5 billion of real estate through March 2019.

That may prove optimistic, because as reported two weeks ago as Chinese buyers wave goodbye to Vancouver, they have set their sights on another Canadian city: Toronto.

According to the Star, sales of $1-million-plus Toronto-area single-family homes rose 83% year over year in July and August. That's 3,026 homes, with 55 per cent of them inside Toronto's borders.  That's not entirely surprising given that the average cost of a detached home in Toronto was about $1.2 million, said Sotheby's CEO Brad Henderson.

"While $1 million is still a considerable amount of money, it's difficult to find a single-family home in the city of Toronto for less than $1 million and it is not uncommon to find homes in the $2-million, $3-million or even $4-million-plus range," he said.

Sotheby's says sales of homes in the $4-million-and-up category rose 74 per cent in the region and 58 per cent in the city in July and August. Sotheby's said it expects Toronto's luxury market to take the lead among Canada's cities, outpacing Montreal, which probably will become a target for investors from Europe, China and the Middle East.

"What the (Vancouver) tax introduced is . . . some uncertainty as to what other policy issues the city or the province may introduce, which would adversely affect investors," Henderson said, adding that  investors are looking elsewhere, including cities outside Canada.

"But, if they are looking in Canada, we believe Toronto will be the most logical place for people to consider. Montreal and Calgary will probably also get a look-see," Henderson said.

Or maybe not.

As CBC reported earlier this week, economist Benjamin Tal of CIBC said that Ontario will have little choice but to copy Vancouver and implement a tax on foreign house buyers.  In a recent note to clients, the economist said the biggest problem facing policymakers with regard to hot housing markets in Toronto and Vancouver is a limit on the supply of new homes.

"The main reason behind higher prices in the [Greater Toronto Area] is a policy-driven lack of land supply," Tal said. "And with no change on that front, policymakers have to use demand tools to deal with what is essentially a supply problem."

Tal doesn't speculate how much of a tax could be under consideration for Toronto, nor does he have any insight as to when and how it might be implemented.

A foreign buyer tax is not the only possible response to the problem of high house prices. Among other possibilities, Tal cites:

  • Compelling banks to tighten their lending practices by making them pay for their own mortgage insurance.
  • Raising the down payment minimum to 10 per cent, even for homes under $1 million,
  • Closer monitoring of lending to subprime buyers.
  • Offering tax incentives to developers to make more purpose-built rental buildings, including more flexible rent control rules, as ways of cooling Toronto's housing market.

Tal says Toronto's housing market has been inflated by cheap lending to people who would have no business getting a mortgage if rates returned to more typical levels.

Of course, if Toronto does what Vancouver did and tries to spook away foreign buyers, the housing bubble will simply keep jumping city to city, first in Canada, then in move to the US, and back over to Europe, until soon the entire world makes it clear that China's $30 some trillion in deposits that are just itching to be parked offshore are no longer welcome, forcing the Chinese government to finally deal with the alarming consequences of its own unprecedented monetary injections, which now amount to some $4 trillion in new money creation mostly by way of bank "loans" (and thus deposits) every single year.

We Are Stuck In Depression Until The Legend Of The "Maestro" Finally Dies

Posted: 24 Sep 2016 04:00 PM PDT

Submitted by Jeffrey Snider via Alhambra Investment Partners,

Alan Greenspan is confused – again. The man who admitted to the world a decade ago he didn’t know much if anything about interest rates is now trying to change that reputation by suggesting yet again interest rates are set to rise. In testimony before Congress in February 2005, the then-Chairman of the Federal Reserve actually said:

For the moment, the broadly unanticipated behavior of world bond markets remains a conundrum. Bond price movements may be a short-term aberration, but it will be some time before we are able to better judge the forces underlying recent experience.

To an economist, it was a “conundrum” especially where econometrics and statistics and take the dominant view (if it can be called that). That is one facet to the Greenspan story that is so odd yet so compelling in all the wrong ways. Though he was an economist by schooling, he had more practical experience in the “real” world. He served on boards of such illustrious companies as Alcoa, General Foods, even Mobil. But he was also a director for JP Morgan and Morgan Guaranty.

He should have known better, as his infamous 1966 essay on gold reveals. Thus, we can reasonably assume that what transformed his worldview was not economics (small “e”) but rather power. Not only had he been appointed to major corporate boards, he was heavily involved in politics, including the kinds that are the stuff of conspiracy theories.

By 1995, as Fed Chairman, Greenspan was widely and wildly credited as guiding the US economy through what he claimed was an existential crisis with the Savings & Loan industry bust. Though George HW Bush would blame Greenspan’s Fed in part for his 1992 election lost because of the first “jobless recovery” (a major clue no economist or policymaker investigated honestly), by the middle 1990’s it was believed he had created the recovery itself and then tamed it when he raised rates in 1994 and engineered what many still call a “soft landing.” There have been many who have been dubbed the “bond market king”, but for a long time Dr. Greenspan’s status in that regard was a cut above.

His confusion and “conundrum” in the 21st century belies the reputation that had been given him in the 20th. The US (and global) economy of the middle 1990’s didn’t bother about rate hikes because there were other processes at work, especially with the S&L’s no longer a further restraint on finance (yes, restraint). With traditional banking all but relegated to second tier status, wholesale finance of the eurodollar had been given an unrestricted path to all marginal growth – money as well as credit.

And Alan Greenspan knew it, or at least he knew of it and what it was doing. Many times during this period he would acknowledge the changing nature of money including in his “irrational exuberance” speech. By the dawn of the new millennium, that’s all there was – eurodollars were the dominant setting. The real world got a close look at what it was doing first with the dot-com bubble and then the mania of the coincident housing bubble. Overseas, the eurodollar system was financing the EM “miracles” in what might fairly be called the third major bubble (the one yet to be fully reckoned with, though in some places like Brazil it has started to be).

By the middle 2000’s, monetary behavior was no longer as economists had come to expect and what they had encoded in their econometric models. In trying to reconcile the bond market with those models, Greenspan had his conundrum which Ben Bernanke put into the concept of a “global savings glut.” It was the final signal that economics, especially mainstream monetary economics, had lost all connection with actual, operative finance.

Because, however, his pedigree and credentials remain impeccable, his opinion still carries some weight; that is the world we live in, especially where the media is concerned. It doesn’t matter how much you failed, it matters where you went to school and what jobs you held while you failed. Appearing on BloombergTV yesterday Dr. Greenspan claimed yet again that the treasury bull market is over with, and once more demonstrating his confusion.

“Whenever you have a bull market, it looks as though it is never going to turn,” Greenspan, the second-longest serving Fed chairman, said in an interview on Bloomberg Television. “This is a classic case of a peak in a speculative security.”

I doubt there was any mention of his other such “calls” between his “conundrum” and now, including one just last year. Speaking at a private conference in DC in May 2015 before “global turmoil” erupted globally (it was only “overseas turmoil” at that time), Greenspan said:

Just remember we had the taper tantrum. And we are going to get another one.

He made that proclamation as interest rates were, in fact, rising. In late January, the 10-year UST yield had fallen all the way below 1.70%; but from that point through the spring interest rates had been increasing again as Janet Yellen’s “transitory” theme seemed to gain evidence. By the time Greenspan spoke of this next “tantrum”, the 10s had moved back up in yield to around 2.30%. Rather than continue toward 3.30% as he was suggesting, the benchmark bond yield would be nearly 1.30% by this July and proving yet again he is nothing more than an empty suit with a filled out resume.

It’s not just that he has been wrong about the direction of interest rates, it is why he has been wrong but more so because it perpetuates this same, very basic financial misunderstanding. In putting together the story on Greenspan’s BloombergTV appearance, the article’s authors clearly share the former Fed Chair’s muddled misunderstanding.

Investors globally have regarded monetary policy with growing skepticism that there’s more central banks can do to stoke inflation and economic growth. Asset-purchase programs and negative interest rates have pushed yields on more than $9 trillion of government securities worldwide below zero, according to Bloomberg Barclays index data. The European Central Bank triggered a global selloff this month after signaling it wouldn’t pursue further stimulus.

This is all demonstrably false and backward. The bond market hasn’t sold off because it is just now losing faith in central banks; bond rates have been falling for years as that market no longer has any faith in them whatsoever. The history of UST yields since 2007 is, pardon the pun, unyielding on this score. Bond rates rose in the aftermath of the panic because of ZIRP and all throughout QE1 as bond market participants didn’t understand what QE actually was. Believing it to be actual money printing, bond rates reflected both increased inflation and economic growth that were judged likely to result – only to stumble into shocking illiquidity in early 2010.


To that, the Fed responded with QE2 and the process started all over again. Treasury rates rose once more, not fell, while the Fed was purchasing UST’s – only to stumble all over again into even more shocking illiquidity in the middle of 2011 that finally registered as the realization of this eurodollar chasm between money and the actual role of bank reserves. Yet, despite all that, the bond market gave the Fed one more chance, though this time it was after QE3 and QE4, waiting to act in the same manner only when the Fed was willing to taper them. In other words, the bond market on the third try demanded some confirmation first that QE had worked before reflecting expectations of inflation and growth. The idea of taper itself was that confirmation; thus, the “tantrum” of 2013 wasn’t that the Fed was no longer buying bonds (at least as far as the treasury market was concerned) but that the bond market judged the success of QE at that point in time the most likely.


It didn’t last, of course, and ever since the bond market no longer has much faith in “stimulus”, harkening back to the questions about money and balance sheet expansion exposed by the 2011 crisis. Declining yields and a flattening curve leave no doubt as to the scenario that has been expected, one that has already been proved true. These periodic, almost regular selloffs that occur are not “growing skepticism” of global monetary policy, rather they are the brief and comparatively subdued flirtations with renewed faith that policy might achieve some results. And, as usual, those hopes are dashed in relatively quick fashion by reality.

Economists view everything in finance through the filter of monetary policy, and therefore attribute all results to that perspective no matter how illogical and strained. That is why their view of the world is so often upside down and/or backward. It is the legacy of the myth of the “maestro.” There is no reason, however, for that to have become and further remain the mainstream view propagated through the media. Greenspan’s credentials say nothing; his track record is all that should matter when judging the worth of his opinions. He doesn’t know what he is talking about and there is a mountain of evidence, including his own words, that show that he never did.

We are stuck in this economic depression not just because of his past tenure, but more so now because constant reverence prevents acceptance of these facts. The recovery doesn’t start until the “maestro’s” legend dies, and with it all the confusion and misconstruction about how markets and the economy actually work.

Stefan Molyneux On Why Democrats Don't Care That Hilary Clinton Is A Half Dead Criminal

Posted: 24 Sep 2016 03:57 PM PDT

The Clinton Crime Family knows no limits to their treachery and malfeasance. Hillary Clinton's High Crimes and Sordid Scandals, Financial Fiascos and Political Debacles The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

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Gold Price Closed at $1337.20 Up $31.40 or 2.4% for the Week

Posted: 24 Sep 2016 03:42 PM PDT

Here's the weekly scorecard:
 16-Sep-1623-Sep-16Change% Change
Silver Price cents/oz.1,878.101,973.3095.205.1
Gold Price, dollars/oz.1,305.801,337.2031.402.4
Gold/Silver Ratio69.52867.765-1.763-2.5
Silver/Gold Ratio0.01440.01480.00042.6
Dow in Gold Dollars (DIG$)286.91282.20-4.71-1.6
Dow in gold ounces13.8813.65-0.23-1.6
Dow in Silver ounces965.01925.09-39.92-4.1
Dow Industrials18,123.8018,254.84131.040.7
US dollar index96.0695.39-0.67-0.7
Platinum Price1,016.001,056.6040.604.0
Palladium Price672.85706.4033.555.0
23-Sep-16PriceChange% Change
Gold Price, $/oz1,337.20-0.32-0.0
Silver Price, $/oz19.73-0.29-1.4
Gold/Silver Ratio67.765-0.006-0.0
Silver/Gold Ratio0.0148-0.0002-1.4
Platinum Price1,056.60-7.40-0.7
Palladium Price706.405.400.8
S&P 5002,164.69-12.49-0.6
Dow in GOLD $s282.20-1.93-0.7
Dow in GOLD oz13.65-0.09-0.7
Dow in SILVER oz925.096.720.7
US Dollar Index95.390.010.0
IMPORTANT NOTE: The following are wholesale, not retail, prices. To figure retail selling price, multiply the "ask" price by 1.035. To figure our retail buying price, multiple the "bid" price by 0.97. Lower commissions apply to larger orders, higher commissions to very small orders.
SPOT GOLD:1,337.00   
American Eagle1.001,377.111,381.791,381.79
1/2 AE0.50681.36705.271,410.54
1/4 AE0.25344.02359.321,437.28
1/10 AE0.10140.28146.401,464.02
Aust. 100 corona0.981,298.731,307.731,334.15
British sovereign0.24317.09330.091,402.25
French 20 franc0.19247.12251.121,345.05
Maple Leaf1.001,347.001,361.001,361.00
1/2 Maple Leaf0.50768.78701.931,403.85
1/4 Maple Leaf0.25340.94357.651,430.59
1/10 Maple Leaf0.10141.72145.731,457.33
Mexican 50 peso1.211,597.381,608.381,333.98
.9999 bar1.001,341.681,349.001,349.00
SPOT SILVER:19.67   
VG+ Morgan $B4 19050.7725.0027.0035.29
VG+ Peace dollar0.7720.0022.00

BREAKING: "Netanyahu Meetings With Trump & Clinton"

Posted: 24 Sep 2016 03:00 PM PDT

Prophecy Alert as Israeli Prime Minister Netanyahu will be meeting with Hillary Clinton and then Donald Trump In New York on Sunday http://also Help Us Spread the Word The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

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Ultimate Market Crash Starting NOW - Sep 23 Biblical Prophecy

Posted: 24 Sep 2016 02:30 PM PDT

Back in less than a month is economics & metals forecaster Bo Polny of Gold 2020 Forecast. This time he's exclaiming that time has run out, and looking at Friday's Dow close even after the FED decision to keep rates low, this is looking more and more likely to be the turning point for a big US...

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Anonymous - The TRUTH about WW3 II

Posted: 24 Sep 2016 12:30 PM PDT

 The Truth About WWIIIWe are Anonymous.We are Legion.We do not forgive.We do not forget.Expect us. 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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Dollar Collapse Starts Sept 30? Gold Bull Will Rage | David Morgan

Posted: 24 Sep 2016 12:00 PM PDT

 With major analysts predicting a convulsive impact to the US Dollar this fall, driven by a global rush into the new SDR basket of currencies once it becomes turbo-charged with the Chinese Yuan and gold, how will Gold and Silver react, and what can you do NOW even beyond holding gold &...

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OBAMA IS PLANNING SOMETHING VERY BAD -- Martial Law, Fema Camps, NWO -- September 2016

Posted: 24 Sep 2016 11:30 AM PDT

 Martial law is coming to america and we can't do much to stop it! The NWO is controlling the media and telling the sheeple that their is nothing bad happening in our country! The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

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Posted: 24 Sep 2016 10:56 AM PDT

I lived free and I'll Damn sure die free!! that's what I'll do!! 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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Janet Yellen “Did the Right Thing”

Posted: 24 Sep 2016 07:00 AM PDT

This post Janet Yellen "Did the Right Thing" appeared first on Daily Reckoning.

Bill "Slick Willy" Clinton was right on.

On Tuesday, he told CNBC that the Federal Reserve would "do the right thing" on interest rates. And it did just that… or at least, the right thing for Bill's wife.

Don't kid yourself. Janet Yellen wasn't going to raise rates and crash the stock market and economy seven weeks before the presidential election. She wasn't going to go down in history as the person responsible for handing the White House to Trump.

How could she explain that to her comrades in arms in the faculty lounge at UC Berkeley?

So interest rates remain pinned to the floor. The markets keep levitating. And the odds of a major conflagration down the road have increased significantly. But that doesn't mean there's not big money to be made in the markets while the elites pull levers and bang out favors to friends…

Some market watchers, including legendary bond investor Bill Gross, actually believed the Fed might raise rates this month. Gross thought investors were underestimating the odds of a September rate hike. He believed it was self-evident that the Fed's roughly decade-long policy of near-zero rates had run its course.

Of course, his point was correct. But he made the crucial mistake of thinking the Fed was guided by data and logic. It's not. It's something akin to a sorority.

Gross told CNBC he was so stunned by the Fed's decision yesterday that he was having trouble speaking. But bless him, he did manage to speak some needed truth:

After hawkish talk at Jackson Hole from [Fed Chair] Yellen and [Vice Chair] Stan Fischer, who even said there'd be two hikes in 2016, they've chosen to defer once more a necessary hike to normalize short-term interest rates and provide savers, in my view, with at least a bit of thin gruel to work with to provide for education, retirement and health care needs.

The Fed's decision on Wednesday was just a short-term fix to prevent any downside stock market action. The Fed's been intervening like this for years, dating back to when Alan Greenspan flooded the banking system with reserves to provide "liquidity" during the 1987 stock market crash.

And we've seen it again and again in subsequent years where short-term government bailouts prevent needed periodic corrections. We've seen unsustainable businesses saved. And we've seen credit bubbles all the way to Matt Damon on Mars.

These obvious market excesses are never allowed to clear out. And this irresponsible behavior only guarantees a massive systemwide collapse — just like we saw in 2008–9.


Michael Covel
for The Daily Reckoning

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The post Janet Yellen "Did the Right Thing" appeared first on Daily Reckoning.

Me and Manager Dan

Posted: 24 Sep 2016 07:00 AM PDT

This post Me and Manager Dan appeared first on Daily Reckoning.

I have been advised many, many times that I would suffer a lot less seething hostility from co-workers, neighbors and family members (including the one, not mentioning any names, that promised to love, honor, 'til death do us part with this ring I thee wed blah blah blah) if I would stop being so critical of people, to the point of cruelly belittling these, what is the word I am looking for? morons.

Like the evil Federal Reserve and self-delusional Keynesian econometric lunatics, for example.

As for the vast majority of people who do not, or ever did, deserve such ill-treatment, I am ashamed of myself, and I apologize.

My defense is that I, of course, suspect treachery everywhere.

So, naturally, when I don't immediately find somebody actually sticking a knife in my back, putting poison in my food or wanting to borrow my car, I keep looking for subtle signs of such treachery until I eventually find them, cleverly unveiling dark, nefarious plots, logically deducted from clues in something said, or not said, or did, or not did, done, did.

You're all against me. I know it. You know it. We all know it.

Then again, there are (and this is the important part!) those who deserve abject humiliation and the full weight of the Scorn Of The Angry Mogambo (SOTAM) jumping up and down on their preposterously inflated egos.

One of these people has written an article in the Economist magazine, in the category of self-proclaimed "Big economic ideas" wherein one can, I assume, theoretically find true economic wisdom, which in this case entails an explanatory subhead "What economists can learn from the discipline's seminal papers."

Wow! With that kind of a buildup, I am sure that you are, as am I, as are we all, breathlessly tingly with excitement! Hopes are soon dashed, however, when the doofus writes "Much as doctors understand diseases but cannot predict when you will fall ill, economist's fundamental mission is not to forecast recessions but to explain how the world works."

Hahahaha! I am laughing so hard that my stomach hurts! Ouch! Hahahaha! Ow! Call the aforementioned doctor! Hahaha!

"How the world works", but recessions are not part of how the world works? Again, hahaha!

Suddenly and surprisingly composing myself, I ceremoniously stand, reach out my arm in a theatrically grand gesture, and thunder "Friends! Romans! Countrymen! Lend me your ears! The Whole Freaking Point Of Economics (TWFPOE) is to forecast recessions with enough lead time so that you can stop the silly monetary and/or fiscal crap you are doing, letting the body, in keeping with this ridiculous medical analogy, heal itself!"

Now, I admit that I am not, actually, a doctor. Nor have I ever portrayed one on TV, although I am sure that I would be great at it. Maybe have my own TV series, titled "Handsome Doctor Hollywood."

Yet, even with my appalling lack of medical education, training or even a bare minimum of intelligence, my credentials are sufficient to EASILY tell that you are going to get sick and DIE — and soon! — when you drink nothing but whiskey, eat nothing except yummy doughnuts, get no exercise, smoke, take recreational drugs with borrowed syringes and are continually swapping bodily fluids with strangers, or, as Frank Sinatra put it, strangers in the night, exchanging glances, wondering in the night, what were the chances.

Since we are surprisingly comparing the mission of economists to doctors, I cleverly change direction to maybe make a few quick bucks. So I change my name to Hotshot Doctor Mogambo (HDM), and say "Hey! This doctor thing could be fun! Let's put on a white lab coat, bring the patient in, and look at the lab results!"

Glancing at the reports, I instantly see that this is the part of the medical profession that is really unpleasant: Telling the patient bad news.

Ideally, as a new doctor, I want my patients to be young and beautiful women, in perfect health despite wearing scandalously little clothing and having a fawning, father-figure fixation, or be a healthy guy who is such a looney-tunes hypochondriac that he will pay outrageous sums of cash for whatever quack therapies I can dream up at the prestigious Mogambo Institute Of High-Priced Therapies For Miscellaneous Complaints (MIOHPTFMC) to cure his imagined ailments.

With my spiffy new professional medical demeanor applied to economics, I try to hide from the patient that the sad results from the economics lab tests are, to be brief, that everything that can be bad (pause for effect) is bad. Bummer.

Manufacturing is down. Prices are up, but wages and jobs are down. Bond yields are less than squat. Entitlement (transfer) spending and expansions of eligibilities are up, government spending is up, the evil Federal Reserve is still busily monetizing government debt (cash and credit created out of thin air to buy new government-issued debt) by more than (yes, I said "more than") a terrifying trillion dollars (yes, I said "trillion dollars") a year, every year, year after year, and its effect on the money supply means that price inflation, though curiously and bizarrely subdued given the extremes of Quantitative Easing, is, nonetheless, predictably up.

The worst of all is that debt levels, public and private, which are already at insane levels, are even MORE than (yes, I said "more than") insane and everyone is also MORE than (yes, I said "more than") tapped out.

Worst of all, the "misery index," which sounds vaguely medical in nature and thus entirely apropos for this doctor farce, is numerically just the unemployment rate (which is now just fictional data manipulated by the government), plus inflation (which is ditto manipulated), is, woefully, up.

I say "woefully up" because, as we phony medical professionals say, you ain't seen nothin' yet. Trust me. I'm a doctor, or at least pretending to be, so you can believe me completely.

Well, unemployment is way up if you count the people who are not working but would like to be working, but can't find a job because jobs are disappearing or, perhaps as in my case, everyone hates me and rudely throws me out of their offices after contacting my previous employers, so take your stupid job and shove it, jerk.

And the unemployment rate is REALLY up if you count, although the government doesn't, the people who are not working and SHOULD be working instead of voluntarily sitting around the house, alternately swilling and gobbling the aforementioned whiskey, doughnuts and drugs, which was where my illustrious new career as a doctor began, if you recall from a previous paragraph.

I know what you are thinking. You are saying "Enough with this playing doctor crap! Go back to being The Magnificent Mogambo (TMM), whose timeless wisdom shines like a beacon across a vast sea of ignorance and stupidity as concerns things economic (like the evil Federal Reserve), so that we may hear what to do to save ourselves (i.e. get rid of the Federal Reserve and stabilize the money supply by letting interest rates find a balance between borrowers and savers).

Thus may we happily prosper from your transcendent tutelage, even though what you say is always the same monotonous harangue about listening to the lessons of history and the Austrian school of economics, which is the only true theory of economics.

And to the dullards amongst us, expound at length as to the horrors of what happens when supplies of fiat currencies yield to corrupt government pressures to expand, and for all clear-thinking, handsome and intelligent people to properly respond by buying gold and silver bullion with hysterical abandon because they are so Completely Freaked Out (CFO)."

Well, even though I am now proudly a newly-minted quack doctor to both the economy and rich Hollywood stars, I know from years of experience about the staggering corruption in every government agency and the horrid Federal Reserve, and that they all know that it is important, important, important that nothing, nothing, nothing bad, bad, bad happen, happen, happen to the housing market, the stock market or the bond market because the entire freaking economic well-being of the whole freaking country and, by extension, the world (which, as a pointless acronym, would be EFEWBOTHWFCABETW, which is, upon reflection, too unwieldy, so just forget I even brought it up) is so vitally, vitally, vitally dependent upon these markets not only remaining at these preposterous, scandalous, sky-high valuations, but continuously getting even more, even more, even more so, so, so!

Theoretically forever!

And with the ability of the evil Federal Reserve to create literally unlimited amounts of cash and credit, they can keep these markets going up, by the aforementioned theoretically forever, by literally buying the assets by simply creating more, more, more cash and credit with which to continue flooding the economy, which increases the money supply (and the accompanying debt load), which makes prices rise more, which makes the Federal Reserve monetize more debt with which to flood the economy, which increases the money supply (and the accompanying debt load), making prices go up, everything going around and around, and up and up, until it (pausing for breath) literally can't continue because prices increase so fast that it is impossible to create enough cash and credit to pay them.

This is how price inflation comes to destroy everything.

And with the unbelievable corruption in the gold and silver markets, which are the only sound money and the last refuge of desperate people being destroyed as their money is destroyed, their prices will continue to be suppressed.

You get the picture. We're Freaking Doomed (WFD).

But take heart! I asked Manager Dan at the grocery store "Are you buying gold and silver, currently at prices that are laughably low, or are you some kind of idiot who needs a good dose of Doctor Mogambo's Stupidity Cure (DMSC), which is me slapping the hell out of your face (whap whap whap!) until you get some smarts about buying gold and silver when your own government, and governments around the world, is allowing and abetting such terrifying expansions of the money supply? Huh? What's it going to be, Dan? Huh? What? Huh?"

He said, and this is a direct quote, "Yes! Yes, I am buying physical gold and silver! Gold and silver bullion! Yes sir! Lots of gold and silver bullion! Anything you want, mister! Just don't hurt me. And please just take your groceries and quietly leave the store! Nobody wants any trouble!"

No trouble! See how easy and pleasant this whole thing is? No trouble! Gold and silver bullion in hand! Whee! This investing thing is easy!

If you don't believe me, then listen to Manager Dan. What are the chances that BOTH of us can be wrong?


The Mogambo Guru
for The Daily Reckoning

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The post Me and Manager Dan appeared first on Daily Reckoning.

Gold and Gold Stocks Corrective Action Continues Despite Dovish Federal Reserve

Posted: 24 Sep 2016 03:49 AM PDT

There were some hopes that a non-move by the Fed would end the current correction in precious metals and spark a move to new highs. Unfortunately, the Federal Reserve cannot override the supply and demand component of the market. Gold and gold stocks popped higher but less than two days later the sector (and specifically the miners) has given those gains back. That tells us plenty of sellers remain and this sector needs more time and perhaps lower prices before this correction ends.

Russia Continues to Accumulate Gold, While China Prepares for a Major Announcement - Nathan McDonald

Posted: 23 Sep 2016 04:00 PM PDT

Sprott Money

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