Sunday, September 4, 2016

Gold World News Flash

Gold World News Flash


Barrick to focus on scaled-back Pascua-Lama project in Argentina

Posted: 03 Sep 2016 08:36 PM PDT

By Susan Taylor
Reuters
Thursday, September 1, 2016

TORONTO -- Barrick Gold Corp, the world's largest gold miner, said Thursday it has brought back a former executive to advance a scaled-back development plan for its suspended Pascua-Lama project that will first focus on Argentina.

The gold and silver project, which straddles the border of Argentina and Chile in the Andes Mountains, was put on hold in 2013 due to environmental issues, political opposition, labor unrest, and development costs that ballooned to $8.5 billion.

George Bee, who has 16 years experience at Barrick and was most recently chief executive at Jaguar Mining, will work on a modest "starter" option for a phased development plan, the company said. ...

... For the remainder of the report:

http://www.reuters.com/article/barrick-gold-mine-development-idUSL1N1BD0...



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Help 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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David Icke with Jeff Rense, August 30, 2016

Posted: 03 Sep 2016 04:41 PM PDT

Jeff Rense with David Icke, August 30, 2016. 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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Stefan Molyneux Why The Mainstream Media Is So Disgusting & So Against Donald Trump

Posted: 03 Sep 2016 04:07 PM PDT

 FDR 3392 If You Enjoyed This Video Like & Subscribe To My Channel Stefan Molyneux Freedomainradio Podcast Breakdown Stefan Molyneux The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,...

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John Maynard Keynes' "General Theory" Eighty Years Later

Posted: 03 Sep 2016 03:45 PM PDT

Authored by Antonius Aquinas,

To the economic and political detriment of the Western world and those economies beyond which have adopted its precepts, 2016 marks the eightieth anniversary of the publication of one of, if not, the most influential economics books ever penned, John Maynard Keynes’ The General Theory of Employment, Interest and Money Sadly, even to this day, despite its thorough refutation by lights such as Henry Hazlitt and other eminent scholars, The General Theory, which spawned “Keynesianism” and its later variants, remains supreme in academics, financial markets, and public policy.

Despite its outlandish theoretical flaws and nonsensical economic jargon and the catastrophic empirical evidence of its failure to prevent financial downturns or “stimulate” sustainable growth, Keynesianism remains the ruling paradigm of economic thought.

Why?

A number of trenchant reasons have been given for the General Theory’s continued dominance, however, one stands above all else: Keynesian economics provides the intellectual justification for economists, statisticians, technocrats, bureaucrats, and policy wonks in their exalted positions as “fine tuners” of economies the world over.  Since markets are to Keynes and his disciples inherently unstable from erratic investment spending and aggregate demand, it is up to these theoreticians steeped in the knowledge of their master’s teachings to ameliorate any economic fluctuations.

The General Theory came on the scene at a propitious time during the height (or more accurately the depth) of  the Great Depression, which in 1936, despite Roosevelt’s New Deal and other Western nation states’ initiatives, had not improved conditions.  Keynesianism was actually a “middle way” between all out Soviet-style central planning and that of laissez-faire capitalism.  Primarily through fiscal policy, the economy would be kept on an even keel under the astute management of Keynesian-trained economists.  Naturally, this appealed to academics and intellectuals the world over who correctly envisioned positions of power and influence in expanded state apparatuses.

As history has shown, Keynesianism was to become more than a remedy for the Depression, but would be applicable after the crisis dissipated.  The General Theory was based, in part, on the (false) notion that the capitalist system is inherently unstable and is, therefore, in need of state intervention.  Keynes  deliberately ignored the scholarship at the time, which demonstrated that the instability was not a “market failure,” but a monetary disorder caused by artificial credit expansion generated by the central banks, especially the Federal Reserve.

The enthusiasm for The General Theory came at first from younger economists while it was (rightly) dismissed by many of their elders as incomprehensible.  Yet, its lack of clarity was appealing to the novices, since they would become the Creed’s interpreters.

Not all, however, were entirely overwhelmed by their mentor’s magnum opus as Paul Samuelson candidly admitted:

[The General Theory] is a badly written book: poorly organized. . . . It abounds in mares’ nests of confusions. . . .  I think I am giving away no secrets when I solemnly aver – upon the basis of vivid personal recollection – that no one else in Cambridge, Massachusetts, really knew what it was all about for some twelve to eighteen months after publication.*

Despite such an assessment, Keynesianism was never seriously challenged by its adherents, it opened too many lucrative policy making doors to be refuted.

That Keynesianism continues to reign supreme, despite its theoretical and empirical bankruptcy, speaks volumes of the state of Western intellectual and academic life.  Instead of the pursuit of truth and the refutation of error, Western intelligentsia is primarily concerned with securing privilege and power for itself.  At one time such status was gained by honest inquiry into social questions and issues, now it is obtained in the justification of the expansion of state power.  Very few turn down such enticements!

Societies are the product of ideas.  Since the release of The General Theory, the Western world has been under the destructive sway of Keynesianism, which has resulted in stagnation, financial turmoil, and eventual collapse.  Until Keynes and his nutty theories have been refuted, the economic malaise will continue.

DONALD TRUMP...TELLING IT LIKE IT IS...COLD HARD TRUTH...2016

Posted: 03 Sep 2016 03:41 PM PDT

DONALD TRUMP...TELLING IT LIKE IT IS...COLD HARD TRUTH...2016 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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Hillary Promises To Deliver Regular Press Conferences... On One Condition

Posted: 03 Sep 2016 03:13 PM PDT

As of today, it has been 273 (call it an absolute zero) days since Clinton's last formal press conference on December 4, 2015, something even the left-leaning WaPo and NYT have expressed outrage against. Naturally, as questions mount if and when the Democratic Presidential candidate will finally speak to the press, overnight Clinton's press secretary, Brian Fallon, had some good news, when he assured an ABC News podcast that she will hold regular press conferences, but under one condition.

That she is president, or as Nancy Pelosi might put it, "you have to elect her, to ask her questions."

This is not a joke: this is how ABC put it, "Clinton's lead press secretary, Brian Fallon, vowed that if elected, "Hillary Clinton will hold press conferences." And here we were worried that if elected, Hillary would serve Clinton Foundation corporation and Middle Eastern donors for (at least) 4 years without speaking to the press at least once (an idea Trump may want to consider).

Fallon, seemingly unaware of how this statement sounded, added that "The amount of interaction can only go up," noting that the traveling press will soon be flying with Clinton on her new campaign plane.

"I'm sure that will bring with it a lot of opportunities for additional access to the candidate and interactions between her and the traveling press corps that covers her every day," Fallon told ABC News' chief White House correspondent Jonathan Karl, and political director Rick Klein on the podcast.

He continued: "we are very respectful of the press and the job that they have to do. We have done a lot of interviews, but I know that no matter how many questions we answer in a variety of formats, it is the press's job to always demand more access. We respect that, and so we're going to seek further ways to accommodate that in the remaining months of the campaign."

So... maybe at least one more press conference before November 8?

Of course, it's just the press that a "very respectful" Hillary has shut out: as the NYT's Amy Chozick put it, "Hillary hasn't been hiding this summer. She's been answering constant questions... from the ultra wealthy." In other words, if anyone wants to know what Hillary is thinking just ask her. But first make sure you have at least 8 figures in your bank account, and are willing and able to "donate" a substantial portion of it.

At a private fund-raiser Tuesday night at a waterfront Hamptons estate, Hillary Clinton danced alongside Jimmy Buffett, Jon Bon Jovi and Paul McCartney, and joined in a singalong finale to "Hey Jude."

 

Mr. Trump has pointed to Mrs. Clinton's noticeably scant schedule of campaign events this summer to suggest she has been hiding from the public. But Mrs. Clinton has been more than accessible to those who reside in some of the country's most moneyed enclaves and are willing to spend hundreds of thousands of dollars to see her. In the last two weeks of August, Mrs. Clinton raked in roughly $50 million at 22 fund-raising events, averaging around $150,000 an hour, according to a New York Times tally.

What the NYT is really telling us is that just as Hillary collected anywhere between $150 and $250k per hour-long "speech" before her presidential campaign from influence peddling corporations and sovereigns, she is now doing... pretty much the same.

And while Mrs. Clinton has faced criticism for her failure to hold a news conference for months, she has fielded hundreds of questions from the ultrarich in places like the Hamptons, Martha's Vineyard, Beverly Hills and Silicon Valley.


Hillary Clinton arrived last Sunday for a fund-raiser at a private
home in North Haven, N.Y.

It also appears that Hillary's a la carte pay-to-play menu has expanded:

For a donation of $2,700, the children (under 16) of donors at an event last month at the Sag Harbor, N.Y., estate of the hedge fund magnate Adam Sender could ask Mrs. Clinton a question. A family photo with Mrs. Clinton cost $10,000, according to attendees.

The Rotschilds were particularly caring:

Lady Lynn Forester de Rothschild, a backer of Democrats and a friend of the Clintons', made sure attendees did not grill Mrs. Clinton at the $100,000-per-couple lamb dinner Mrs. Forester de Rothschild hosted under a tent on the lawn of her oceanfront Martha's Vineyard mansion."I said, 'Let's make it a nice night for her and show her our love,'"

 

Mrs. Forester de Rothschild said.

Justin Timberlake, just another member of the middle class, was especially thrilled with a recent close encounter with the presidential candidate "for the people."

But for once, the damning condemnation belongs to the NYT:

"If Mr. Trump appears to be waging his campaign in rallies and network interviews, Mrs. Clinton's second presidential bid seems to amount to a series of high-dollar fund-raisers with public appearances added to the schedule when they can be fit in. Last week, for example, she diverged just once from her packed fund-raising schedule to deliver a speech.... when she has had a give-and-take this summer about issues, Mrs. Clinton, who has promised to "reshuffle the deck" in favor of the middle class and portrayed Mr. Trump as an out-of-touch billionaire, has almost exclusively been fielding the concerns of the wealthiest Americans.

And while Hillary's transcripts from her countless Wall Street speeches are now forever "lost", perhaps a recording of some of Hillary's presentations at one or more of these ultra-exclusive Hamptons "fundraisers" will finally emerge. After all, it was the infamous recording of Mitt Romney's statement about the "47%" that finally crushed his chances to become president almost exactly one year ago. One can be dead certain that the comments coming out of Hillary's mouth, if revealed, would be far more dire to her image as "one of the people."

As for the press, so desperate to ask Hillary a question, perhaps you should have been born to rich Hillary donor parents. That, or to paraphrase Janet Yellen, you should have just been rich, and able to afford the $100,000 "Rothschild lamb dinner." For everyone else, our condolences: you will be forced to write fawning pieces about Hillary by your media and corporate masters, without having ever been granted an audience.

Joseph P. Farrell Offers MUST HEAR Analysis of “Mr. Global” and Deutsche Bank’s Refusal To Deliver PHYSICAL Gold

Posted: 03 Sep 2016 02:00 PM PDT

from Giza Death Star Community:

Deutsche Bank is refusing gold deliveries, while simultaneously pointing out the overvaluation of the S&P index due to central bank action.

Gold: The Good and the Not Yet Good

Posted: 03 Sep 2016 01:21 PM PDT

The Good Thursday’s ISM report was Thing 1 in improving the backdrop for gold.  But it was a small Thing.  Friday’s August Payrolls report was Thing 2, and it was a better Thing.  Gold and especially the gold mining sector are invigorated fundamentally during economic easing, not during economic growth phases, inflationary or otherwise.

Are the Gold Guys Ready For Prime Time?

Posted: 03 Sep 2016 01:00 PM PDT

New World Economics

Gold And Silver – Fiat “Dollar” Says Gold And Silver Will Struggle

Posted: 03 Sep 2016 12:30 PM PDT

We are taking another look at the globalist-owned Federal Reserve and their totally fiat Federal Reserve Note, more commonly and inaccurately referenced as the “dollar,” which it is not and never was. The fact that people in the United States continue to believe that the “dollar” is real and the Federal Reserve is a part of the US government speaks to how successfully the total Ponzi scheme perpetrated by the elites over the last century plus has fooled almost everyone. Today, cash is barely 5% of “money” in circulation, and the bankers want to do away with even that paltry source in order to fully gain control over the financial lives of all citizens. The fact that this information still needs to be explained relates to the futility of the public ever wakening to the reality of how all Americans have been, and continue to be fleeced by the elites who control every aspect of how the United States functions, including the bought and paid for politicians, starting with the corporate federal president on down.

An Important Low for Gold Price and Gold Stocks?

Posted: 03 Sep 2016 08:12 AM PDT

Gold and gold stocks bounced to end the week thanks to an oversold condition coupled with a softer than expected jobs report which likely delays Fed action until December. At one point this past week the market had priced in a 64% chance of a single rate hike by December and a 42% chance of a rate hike this month. A single rate hike is not going to derail the young bull market in precious metals and as long as the lows of this week hold then the bull market is in position to grow stronger by the end of the year.

Miners' second-quarter gold hedging is highest for six years

Posted: 03 Sep 2016 08:04 AM PDT

From Reuters
Friday, September 2, 2016

Gold mining companies expanded the global hedge book by a further 21 tonnes in the second quarter to the highest level in six years, an industry report showed on Friday.

Hedging, usually by selling future gold production forward, allows miners to lock in prices and guarantee returns for their output.

Gold prices rose around 7 percent in the second quarter from the first three months of the year.

In their quarterly Global Hedge Book Analysis, Societe Generale and GFMS analysts at Thomson Reuters said the global hedge book total stood at 295 tonnes at the end of June, up 9 percent from the previous quarter and compared to 177 tonnes in the same 2015 period. ...

"Although the third quarter has so far seen sparse announcements of new hedging activity, we believe the uncertainty over higher prices in 2016 will elicit gold producers to join the hedging 'club'," the group said.

... For the remainder of the report:

http://www.reuters.com/article/us-gold-hedging-idUSKCN1181DB



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Help 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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Help keep GATA going

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To contribute to GATA, please visit:

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The Fix Is Already in for This Election

Posted: 03 Sep 2016 08:00 AM PDT

This post The Fix Is Already in for This Election appeared first on Daily Reckoning.

Trump is staging a fierce comeback…

Hillary Clinton's post-convention lead in the polls has nearly disappeared. Prominent pollster Rasmussen Reports now has Trump leading Clinton 40% to 39%. Trump also has a 3% lead (45% to Hillary's 42%) in the Los Angeles Times poll.

And Hillary's edge in the polls in which she's still leading has narrowed sharply.

There'll be more back-and-forth momentum swings in the horse race to come, but these new polls show one thing: The odds of a Trump presidency shot higher this week. And that means the odds of a Fed interest rate hike before Election Day got lower…

The fix is in…

Look, Janet Yellen isn't going to do anything to jeopardize a Clinton presidency.

They're both card-carrying Deep Staters. They're both liberals who served under Obama. They both dress the same: Mao chic. And most of all, Yellen wants to keep her job when her term expires in February 2018.

She's a lock to stay on in a Clinton administration. But it won't happen in Trump's. He's already told The Wall Street Journal that he wouldn't keep Yellen as Fed chair.

I don't see how Yellen can raise rates between now and Election Day… if Trump can win.

If she did, it would tank the stock market, nail the economy and give Trump the White House.

When the Fed raised rates in December 2015, the stock market plunged, with the Dow dropping more than 1,300 points in the month following. A plunging market would wipe out trillions in paper wealth and slam the economy into recession.

But Yellen isn't going to let any normal course of events happen before Election Day, especially since a Trump presidency would be every central banker's worst freaking nightmare…

Trump is deeply suspicious of the Fed… as many of us are.

He's rightfully and repeatedly said that Fed policies have created a stock market bubble that will burst. He's called the Fed's QE nonsense a bad economic idea that produced "phony numbers."

He told GQ that he prefers the gold standard to a Fed-manipulated fiat currency: "Bringing back the gold standard would be very hard to do — but boy, would it be wonderful. We'd have a standard on which to base our money."

And he also supports an extensive audit of the Fed to bring transparency and accountability to the secretive "central bank" that's brought devastating boom-and-bust cycles for decades.

Of course, nobody knows if Trump will follow through on these promises if elected. Once in Washington, he could very well become just another lying politician. But right now, the last thing Yellen and her New World Order cronies want to do is take a chance on President Trump.

They want to keep their unchecked power to create endless amounts of money out of thin air… to build and pop one financial bubble after another… all to redistribute from the little people to the elites… and destroy free-market capitalism in the name of state-manipulated Ponzi finance.

We know that won't change under Clinton. And maybe it won't change under Trump. But you can bet central bankers don't trust that business as usual will continue with Trump.

So come the next Fed meeting in mid-September, expect a lot of sophisticated talk from Yellen about this or that economic item, assorted indecipherable mumblings and an army of TV talking heads lapping it all up as if an economic god had spoken.

Just don't hold your breath waiting for a rate hike… no matter what the economy's doing.

Regards,

Michael Covel
for The Daily Reckoning

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The post The Fix Is Already in for This Election appeared first on Daily Reckoning.

Hillary Might Wish She Lost

Posted: 03 Sep 2016 08:00 AM PDT

This post Hillary Might Wish She Lost appeared first on Daily Reckoning.

Would fate permit it, the election of Hillary Clinton will be the supreme and perhaps terminal act in an Anything-Goes-And-Nothing-Matters society.

Yet, even with the fabulous luck of running against a consummate political oaf, she struggles to get the upper hand, and she may land in the White House with the lowest voter turnout in modern history. And then her reward in office may be to dodge indictment for four years while the nation crumbles around her. This is the way the world ends: not with a bang or a whimper but with a cackle.

Imagine the scene following Hillary's election. In order to salvage the last shred of its credibility, the Federal Reserve raises its overnight funds rate another quarter percent and crashes the last Potemkin semblance of a "recovering" economy, that is, the levitated stock markets. Tens of millions of retired individuals previously driven into them by zero interest rate policy are wiped out.

Even more gravely, pension funds and insurance companies are destroyed, but not before their troubles trigger derivative contracts with big banks which then explode and expose the inability of counterparties to make good on their ends of the bet.

In a blind panic, the Federal Reserve reverses its policy in December, drops the Fed Funds interest rate back to 25 basis points and announces the grandest new round of "quantitative easing" (money printing) ever, while congress is coerced into voting for the greatest bailout of institutions the world has ever seen, along with a "one time" helicopter drop of a cool trillion dollars in the form of combined tax cuts and "shovel-ready infrastructure projects."

The media rejoices. The U.S. Dollar tanks. Absolutely nobody wants U.S. treasury bonds, bills, and notes. The pathetic remnant of the American middle class stares into the abyss. (If it looks hard enough, it sees the U.S. government down there.)

We're now living in the setup for this, treating the election shenanigans so far as just another sordid television entertainment. It's more than that. It's an engraved invitation to the worst crisis since the Civil War. The crisis may even feature events like a civil war with identity groups skirmishing around our already-ruined "flyover" cities just like the factions in Aleppo and Fallujah.

Thank the "Progressive" Left for that. Believe me, history will blame them for chucking the idea of a unifying common culture onto the garbage barge.

And yes, for all our tribulations here in America, the rest of the world will be struggling with its own epic disorders. It remains to be seen whether they will lead to war as, say, the Chinese ruling party attempts to evade the crash of its own rickety banking system, and the inflamed millions of ruined "investors," by starting a brawl with Japan over a few meaningless islands in the Pacific.

Could happen. And, oh, is North Korea for real with its right out front nuclear bomb-and-missile program? What does the rest of the world plan to do about that?

You don't even want to look at the Middle East. The grisly conflicts there of recent decades are just a prelude to what happens when the House of Saud loses its grip on the government. That will happen, and then the big question is whether Aramco, officially the Saudi Arabian Oil Company, can continue to function. Or whether the critical parts of it end up damaged beyond repair as competing tribes fight over it.

In any case, the world will begin to notice the salient fact of life in that part of the world: namely, that the Arabian desert, and much of the great band of arid territory on either side of it, cannot support the populations that mushroomed in the nutrient bath of the 20th century oil economy. And they won't all be able to self-export to Europe either.

Speaking of that interesting region, around the same time Hillary sets up for intensive care in the third floor of the White House, the old order will be swept away across Europe. Farewell Merkel and Monsieur Hollandaise. Farewell to the squishy Left all over the place. Enter the tough guys. You'd think if anything might unite that continent it might be the wish to defend secular freedom under the rule of law, but even that remains to be seen.

Yes, the world following 3Q 2016 is looking like one hot mess. If you remember anything, let it be this: the primary mission of your cohort of the human race is managing contraction. The world is getting wider and poorer again and the outcome everywhere will be determined by the success of people to manage their lives locally. The big things of this world — governments, corporations, institutions — are losing their traction and whatever we manage to rebuild will get done locally.

In victory, Hillary may utterly cease to matter.

Regards,

James Howard Kunstler
for The Daily Reckoning

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The post Hillary Might Wish She Lost appeared first on Daily Reckoning.

Monetary Experiment Creating Mother Of All Crises: “Negative Rates Phenomenally Good for Gold and Silver”

Posted: 03 Sep 2016 03:00 AM PDT

ShtfPlan

Breaking News And Best Of The Web

Posted: 02 Sep 2016 05:37 PM PDT

US jobs, factory orders disappoint, lowering odds of September rate hike and sending stocks, oil, gold higher. Japan preparing major new stimulus, Europe considering it. Central bankers losing credibility while buying equities. Major shipping company collapses. Trump visits Mexico, confusing everyone. Clinton emails remain major problem.   Best Of The Web We pulled the ripcord […]

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

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