Saturday, October 22, 2016

Gold World News Flash

Gold World News Flash

BullionStar attends LBMA Conference in Singapore, October 2016

Posted: 21 Oct 2016 10:50 PM PDT


This year, the well-known annual conference of the London Bullion Market Association (LBMA) was held in Singapore between Sunday 16 October and Tuesday 18 October at the impressive Shangri-La Hotel. The conference attracts delegates and speakers from across the world of bullion, with representatives from precious metals refiners, mints, bullion banks, brokers, trading and technology providers, bullion dealers and bullion wholesalers. This year over 700 delegates attended.

The main speaker sessions, presentation and panel sessions of industry representatives ran over two days, between Monday 17 October and Tuesday 18 October. Topics covered in the speaker sessions were numerous and varied and included the bullion market in China, developments in the Indian gold market, responsible gold guidance, LBMA updates and developments, a dedicated session on platinum group metals, and a session on the financing of refineries.

As interesting as the speaker sessions and presentations are, many of the conference attendees use at least some of their time at the LBMA conference to engage in meetings with each other on the sidelines. This explains the constant stream of small breakout meetings that took place in the hotel lobby's seating areas, as well as in dedicated meeting rooms around the hotel. BullionStar also used the occasion to meet with existing suppliers from the refining, minting and wholesaling world, as well as to discuss potential business opportunities with new suppliers.

There were also approximately 20 exhibitor stands at the conference, including stands hosted by CME Group, Brinks, the World Gold Council, IE Singapore (Singapore's trade development authority), Istanbul Gold Refinery (IGR), Metals Focus consultancy, Cinnober, and Nadir Refinery.

Singapore - Central Business District, Skyline

Hong Kong - Shenzhen Gold Connect

On the Sunday prior to the conference, the Chinese Gold and Silver Exchange (CGSE) and the Singapore Bullion Market Association (SBMA) co-hosted a pre-conference presentation titled “Building a physical gold corridor in Asia: Shanghai – Hong Kong / Qianhai – Singapore”, at the hotel, which featured a series of discussions about the CGSE’s new gold trading and vaulting project located in the Shenzhen free trade zone at Qianhai, just across the border from Hong Kong.

Haywood Cheung, Permanent President of CGSE, gave an introductory overview of the Qianhai project, showcasing it as part of China’s “One Belt, One Road” plan, after which Dong Feng, Ping An Commodities Trading in Shenzhen presented a detailed explanation of how the linkages between the CGSE’s trading platform in Hong Kong and Qianhai’s clearing and settlement will for the first time enable the trading of both onshore and offshore Renminbi and the trading of onshore and offshore gold. The Qianhai project integrates trading, clearing, settlement and vaulting, with a 1500 tonne capacity vault, and a trading hall. ICBC will provide settlement of both onshore (Shenzhen) and offshore (Macau) Renminbi as well as providing use of its Shenzhen gold vault (onshore gold settlement) until the CGSE Qianhai vault is completed.

This onshore and offshore trading and settlement of Yuan and physical gold will facilitate arbitrage trading, and is another step in China’s liberalisation of its currency and its gold market as it links the Chinese currency to physical settlement of gold inside and outside of China. This initiative is one to watch and will demonstrate the Chinese government’s gradual easing of cross-border restrictions on currency and gold flow. Next phase gold trading in Qianhai by CGSE member companies will commence on 7 December.

With the CGSE having already established a gold trading link with the Shanghai Gold Exchange (SGE) though its Shanghai-Hong Kong Connect, and with the Shenzhen (Qianhai) - Hong Kong Connect now coming on stream, the CGSE is also planning a Singapore - Hong Kong Connect, and a Dubai - Hong Kong Connect, which, if they materialise, will extend physical gold corridor (trading and vaulting connections) across the Asian region and beyond.

Albert Cheng, CEO of the SBMA, wrapped up the afternoon with an overview presentation of SBMA’s aspirations to evolve Singapore into a bullion market hub for the entire ASEAN region, including countries such as Indonesia, Vietnam and Myanmar. However, details of how this plan will be implemented were not addressed. Cheng also showcased the SGX gold contract which is backed by the SBMA, but which has yet to take off despite being launched over 2 years ago.

LMEprecious gold Futures

The first event we attended on Monday was an early morning presentation by the London Metal Exchange (LME) about LMEprecious, its new suite of spot, daily, and monthly gold and silver futures contracts to be launched in the first half of 2017, that will trade on LME’s trading platform, with market-making offered by 5 investment banks such as Goldman Sachs and ICBC Standard Bank. These futures are for delivery of unallocated metal in the London market and the contracts will still clear through the London bullion market's LPMCL unallocated bullion clearing system. In time, the LME plans to launch platinum and palladium futures contracts on LMEprecious, as well as options contracts on all 4 metals. The LMEprecious platform will also link into LBMA’s planned trade reporting system.

ICE gold Futures

On Monday morning, ICE Benchmark Administration (IBA), a direct competitor to LME in the precious metals trading and clearing space, used the LBMA conference to make a very well-timed announcement that it too will be launching a new gold futures contract for delivery of unallocated gold in London (loco London). The ICE contract will trade on the ICE US futures platform and will begin trading in February 2017, in advance of the LME contracts. This contract is being designed to be compatible for settlement within the LBMA Gold Price auction which IBA administers in London, and it will, according to IBA, allow the introduction of central clearing into the auctions, and thus facilitate wider auction participation. Currently,the direct auction is exclusively open  to a handful of large banks that have large bi-lateral credit lines with each other. At this stage it’s unclear how the connections between the futures contract and the LBMA Gold Price auction will work, but BullionStar plans to examine this development in future coverage.

Shangri-La Hotel, Singapore

Unallocated Gold, Gold Lending and Central Banks

Given that the LBMA Conference is attended by dozens and dozens of precious metals refineries and mints, it was notable that the subject of "unallocated gold" cropped up in the discussion of LMEprecious and ICE futures contracts, but that there was no discussion in the actual LBMA conference programme schedule of 'unallocated gold' as the term is used by the LBMA. An unallocated gold position in an account in the London gold market is merely a contractual claim for gold against the bank that the account is held with. As such, it is a synthetic gold position.

It was also odd in our view that there was no seminar or discussion about the London gold lending market within the conference programme. As gold lending is an important and influential area of the London gold market, it affects marginal gold supply, and it has an impact on gold price formation.  Notably, the topic of central bank activities in the gold market was completely ommitted from the conference schedule this year, which was odd given that in previous years there was usually such a session. Have the central bankers involved in the gold market become shy all of a sudden?

Gold price benchmark for Singapore revisited

In another announcement on Monday morning at the conference, the Singapore minister for trade and industry announced that the SBMA in conjunction with the LBMA and ICE Benchmark Administration (IBA), there begin a feasibility study on launching a “pre-AM gold price” auction, which would serve as a benchmark for the Asian region and which would be held at 2pm Singapore time, in advance of the European trading day. This Singapore benchmark was already discussed and announced over 3 years ago, but has put on hold in 2014 due to European regulatory investigations at that time into manipulation of the London Gold Fix.

LBMA Trade Reporting

The conference speaker programme opened on Monday morning with introductory remarks from Lim Hng Kiang, Singapore Minister for Trade and Industry, outgoing LBMA chairman Grant Angwin, incoming newly appointed ChairmanPaul Fisher who recently arrived from the Bank of England, Tim Pearce, the chairman of the London Platinum and Palladium Market (LPPM), and LBMA CEO Ruth Crowell.

The LBMA CEO’s introductory speech touch on the planned launch of trade reporting services for the London Gold Market. This trade reporting contract has been awarded to financial technology providers Cinnober – BOAT Services – Autilla, after those partners won the LBMA’s recent RfP tender which had been launched in October 2015. Ruth Crowell referred to trade reporting as ‘Phase 1’ of a new suite of technology services. Trade reporting  will be launched in Q1 2017, and will, according to the LBMA “demonstrate of the size and liquidity of the market for clients, investors and regulators”. Phase 2 of this project refers to services such as central clearing in the London bullion market.

Further background to the chosen trade reporting solution was provided by Jamie Khurshid, the CEO of BOAT Services. Surprisingly, even though this RfP took the LBMA over 1 year to complete, it will still now require a 'design phase' where BOAT/Cinnober needs to meet with LBMA member firms to discuss the scope of reporting, followed by a period of customisation and configuration of the implementation. Details on what exactly will be reported (the scope) remain sketchy, and since full London gold and silver trade reporting by all participants (including central banks) is not mandatory in a regulatory sense, it remains to be seen to what extent transparency will be improved.  Because if you don't have full mandatory reporting, you don't have transparency. In another related presentation, Sakhila Mirza, LBMA General Counsel stated that trade reporting will apply to loco London spot trades, forwards and options, but that "LBMA and its members retain control over the scope of reporting", which highlights the self-regulatory nature of the reporting, and again may suggest that the trade reporting may not be as granular or have as much informational value as some may think, especially given that central banks will be exempt from trade reporting.

The Shanghai Gold Exchange and Chinese Gold Market

Monday's schedule also included an  informative series of presentations titled "The Bullion Market in China" from an impressive list of experts. Jiao Jinpu, chairman of the Shanghai Gold Exchange (SGE), provided an overview of the latest developments from the SGE, which has a network of 61 vaults across 35 cities in China, and where physical trading volume reached 34,100 tonnes of gold in 2015. Jinpu revealed that the International Board of the SGE (known as SGEI) has, since launch in September 2014, traded 7,838 tonnes of gold, while the daily Shanghai Gold Price auction, only launched in April 2016, has already traded 384 tonnes, worth RMB 105.5 billion, giving it an average daily trading volume of 3.4 tonnes. Jinpu also vindicated BullionStar's estimates of 2015 SGE gold withdrawals, because, in the words of Jinpu, he sits on the SGE tap, and knows exactly how much gold has been withdrawn from the Exchange vaults.

In his speech, Jinpu announced that in the near future, the SGE and other exchanges will begin using the SGE Gold Price benchmark to develop gold price derivative products.

Shanghai Gold Exchange (SGE) Chairman JiaoJinpu

In another notable confirmation, Yang Qing, from the Bank of China, one of China's largest commercial banks involved in the global gold market, responding to a question posed by BullionStar, said that he thinks that in future, the Chinese currency, the Renminbi, should have an element of gold backing.

In what was probably one of the most interesting and revealing presentations from BullionStar's perspective, and which vindicates the extensive research and analysis that BullionStar's precious metals analyst Koos Jansen has done on the Chinese gold market, Matthew Turner from Macquarie Commodities Research in London gave a presentation about how to accurately capture and estimate the total trade flows of gold into China given that China does not publish this data itself.

One of Turner's approaches is to use the trade data of all other countries which do report gold exports to China. This approach reveals that China imported 1626 tonnes of gold in 2015 from a number of countries, primarily Hong Kong, Switzerland, the UK and Australia. Another more elegant Turner approach is to take China's total import figure which it does pub

October Comex Gold "Deliveries"

Posted: 21 Oct 2016 08:49 PM PDT


Hold your real assets outside of the banking system in one of many private international facilities  --> 




October Comex Gold "Deliveries"



As we've been monitoring all year, the total amount of gold allegedly "delivered" through the Comex has soared in 2016. This is simply another anecdotal datapoint of gold demand but the trend is certainly noteworthy, particularly when you see the numbers thus far in October.


We've already written about this trend several times this year. Our most recent article is linked below and I strongly encourage you to read this post as a refresher before you continue.



As noted in the post above, 2016 has seen a very unusual "delivery" pattern for gold on the Comex. Consistent with surging open interest and surging demand for gold in all its forms around the world, "deliveries" of gold through the Comex have increased as well. However, when you compare "deliveries" for 2016 versus 2015, you'll notice that the divergence and increase didn't really begin in earnest until June if this year. See below:


As you can see, for the first six months of 2015, the amount of Comex gold "deliveries" totaled 4,149 for 414,900 ounces or about 13 metric tonnes. Through May of 2016, total Comex gold "deliveries" were 9,683 for 968,300 or about 30 metric tonnes. As you can quickly do the math, this is over a 2X increase and certainly noteworthy on its own merit.


However, beginning with the "delivery month" of June, Comex gold "deliveries" began to explode at a startling pace. Check the charts above again and note the totals over the past four months. For the period June-September 2015, total Comex gold "deliveries" were 8,832 for 883,200 ounces or about 27.5 metric tonnes. For the same period this year, total Comex gold "deliveries" totaled 39,646 for 3,964,600 ounces or about 123.5 mts. This is about 4.5X times the 2015 amount.

And now look at what has happened during October...a month which is historically the lightest "delivery month" on the Comex calendar. Again, referring to the charts above, you can see that the total number of Oct 15 "deliveries" was 950 for 95,000 ounces or slightly less than 3 metric tonnes. Through yesterday, October 21, the Oct 16 "delivery" total is a whopping 9,163 for 916,300 ounces or about 28.5 metric tonnes. This is over a 9X increase versus the same month last year!

And this gets even more interesting when you drill down into the day-by-day "deliveries" and open interest...


The Oct16 Comex gold contract went "off the board" back on September 29. That evening, there will still 7,393 Oct 16 contracts still open and, with First Notice Day pending the next day, all of these remaining contracts had to be fully funded with 100% margin, indicating a willingness and financial ability to take or make delivery. The October deliveries began on September 30 and total Oct 16 open interest fell to 4,458 as 2,470 contracts were "delivered" and 465 contracts were liquidated by speculators unwilling or unable to make the 100% margin requirement.


A normal "delivery" pattern would then show a declining amount of open interest in the active "delivery" month as gold is "delivered" and contracts are closed. However, as you can see below, it has been a very busy month. You should also be sure to note the current total:



So, contributing to the total "delivery" number that exceeds last October by a factor of 9.5, there has been a surge of new open interest that has entered the Oct16 contract with the intention of either making or taking immediate "delivery" of gold...electing not to wait for November or the huge "delivery month" of December. The additions of open interest so far total 1,523 contracts for 152,300 ounces or nearly 5 metric tonnes.


Of course, the Comex and CME Group deliberately make it nearly impossible to discern if this is a rush to buy or sell "gold" in October. This new open interest could be a party looking to immediately unload $200,000,000 worth of gold. However, it could also be someone or something looking to buy and take immediate "delivery" of $200,000,000 worth of gold. It could also be some combination of the one can say with certainty. And much of this is the usual Comex Bullion Bank Circle Jerk where one Bank issues out the warehouse receipts while another Bank stops and takes "delivery".


Total Stops: Goldman 2,936, JPM 2,095 and Scotia 819


Total Issuance: Scotia 3,100, Goldman 1,409 and HSBC 532


You can see the entire report here:


And this is also interesting. Note the sudden involvement of two firms which had, heretofore, had very little if any activity:



More information on those two firms here:



For example, just yesterday, 608 "deliveries" were issued out of the House Account of Macquarie with 533 being stopped into the House Account at Scotia:



But I don't want to get bogged down in the minutiae as this post is not about attempting to unravel the riddle wrapped in mystery inside of an enigma that is The Comex. Instead, we simply wanted to draw your attention to the astonishing increase in the pace of Comex "deliveries".Again, this DOES NOT signal that some sort of Comex delivery failure is imminent or eventual. However, in an anecdotal indicator similar to surging ETF inventories, this massive expansion in the amount of gold allegedly "delivered" through Comex is clearly a sign of a significant increase in demand for gold and synthetic, gold-related investments in 2016. If this trend continues, you can be certain that the new bull market for price, which began early this year, will continue into 2017 and beyond.




Please email with any questions about this article or precious metals HERE






October Comex Gold "Deliveries"

Silver and Gold Prices are Firmly Pointed Skyward

Posted: 21 Oct 2016 05:47 PM PDT

Here's the weekly scorecard:
 14-Oct-1621-Oct-16Change% Change
Silver Price, cents/oz.1,739.301,744.805.500.3
Gold Price, dollars/oz.1,253.101,265.9012.801.0
Gold/silver ratio72.04672.5530.5070.7
Silver/gold ratio0.01390.0138-0.0001-0.7
Dow in Gold Dollars (DIG$)299.22296.31-2.91-1.0
Dow in gold ounces14.4714.33-0.14-1.0
Dow in Silver ounces1,042.861,039.99-2.87-0.3
Dow Industrials18,138.3818,145.717.330.0
US dollar index98.0098.600.600.6
Platinum Price935.90928.60-7.30-0.8
Palladium Price647.25619.70-27.55-4.3
21-Oct-16PriceChange% Change
Gold Price, $/oz1,265.900.300.0
Silver Price, $/oz17.45-0.05-0.3
Gold/Silver Ratio72.5530.0190.0
Silver/Gold Ratio0.0138-0.0000-0.3
Platinum Price928.60-2.60-0.3
Palladium Price619.70-12.10-1.9
S&P 5002,141.16-0.18-0.0
Dow in GOLD $s296.31-0.31-0.1
Dow in GOLD oz14.33-0.02-0.1
Dow in SILVER oz1,039.992.260.2
US Dollar Index98.600.370.4
IMPORTANT NOTE: The following are wholesale, not retail, prices. To figure our 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:1,265.00   
American Eagle1.001,299.161,307.381,307.38
1/2 AE0.50644.64667.291,334.58
1/4 AE0.25325.48339.971,359.88
1/10 AE0.10132.72138.521,385.18
Aust. 100 corona0.981,232.511,241.511,266.59
British sovereign0.24300.01313.011,329.71
French 20 franc0.19233.81237.811,273.77
Maple Leaf1.001,275.001,289.001,289.00
1/2 Maple Leaf0.50727.38664.131,328.25
1/4 Maple Leaf0.25322.58338.391,353.55
1/10 Maple Leaf0.10134.09137.891,378.85
Mexican 50 peso1.211,515.931,526.931,266.43
.9999 bar1.001,269.431,277.001,277.00
SPOT SILVER:17.49   
VG+ Morgan $B4 19050.7725.0027.0035.29
VG+ Peace dollar0.7720.0022.0028.76
90% silver coin bags0.7213,181.0313,467.0318.84
US 40% silver 1/2s0.304,966.335,116.3317.34
100 oz .999 bar100.001,728.501,763.5017.64
10 oz .999 bar10.00176.35181.3518.14
1 oz .999 round1.0017.2917.7917.79
Am Eagle, 200 oz Min1.0018.9920.4920.49
Platinum Platypus1.00943.60973.60973.60

This feels like Sitzkrieg, that first 8 months in World War II when war had been declared, but nobody moved. There's an eerie silence, a degenerating calm, the shells have not yet started falling. Yesterday Fred Reed said the choice between Hillary and Trump was the choice between a bad acid trip and death by sinus drainage. The world and markets aren't facing nice choices. They're holding their breath. At some point, hammers will fall. 

This weeks stocks finished slightly better than unchanged, but still lost ground. Dollar index finally launched an (almost) believable rally. In spite of dollar strength SILVER and GOLD PRICES are trying to rally. 

First, the scrofulous, scabrous US dollar index, loathsome bloodsucker on the necks of nations. 23 month chart lies here, 

Chart's ambiguous, because it is a trading range occurring after a long rise (from Summer 2014). This trading range may signify a consolidation, an area where a market catches breath before continuing, or a reversal. Dollar index has two strikes against it, those double tops in March 2015 and December 2015. I pass over with a nod and jut of chin that lower top in February 2016, which begs to be called a failed attempt at a third top. Leave that alone for now. 

The trading range has been roughly halved by resistance around 98. Observe how many failures have occurred there. Aha -- this time the dollar index has broken through 98. Today it gained 37 basis points to close at 98.60. Wow. Does that mean it will crash through resistance at 100, where the 2015 double tops stopped? 

Can't tell you, but the general rule is there ain't no such thing as triple tops or triple bottoms. Third time a market hits, it breaks through. Hence if the dollar intends to rally, it will shoot through 100 and head for 120 (sounds crazy, but the 2014 rally began about 80. 120 would be symmetrical.) 

That's not a prediction, it's a possibility. On the other hand, if the dollar index fails above 98 yet again, then we can probably reckon with a fall through the range's bottom. 

I don't believe the Fed can afford to let the dollar run to 120 while it chokes on a tsunami of money flooding into the dollar. US exports die and all sorts of other problems pop up. 

But what do I know, a nat'ral born durned fool from Tennessee? What kind of central banker would I make, in overalls and shoeless at them fancy IMF parties with all them furriners? Shoot, they eat fish eggs at them shindigs. And they ain't even devilled. What kind of fool am I, critizizing my central bank betters! Why, some of them have stolen more money in a day than I'll make in a lifetime! 

Here's the short and sweet on stocks: if you ain't moving forward, you're sliding backward. Look at the Dow chart, 

Looks like icicles meltin' off a steep roof, don't it? Been meltin' since that August high. Volume rises on the falls. Downtrend established. To expect higher prices out of this chart is the triumph of self-delusion over realism.

Dow today dropped 16.64 (0.09% to 18,145.71. S&P lost a tee-tiny 0.18 to 2,141.16. 
Gold today rose 30 cents (get out your jeweler's loupe) to $1,265.90. Silver backed off 5.4¢ to 1744.8¢. 
Gold chart lies here, 

The infant rally has touched back to the 200 day moving average, and today was knocked through it but recovered to close above. All indicators point up. We might get another scare around election time, confusion no matter which teenager is "elected," but that will be the last of any weakness we'll see the rest of this year. Fed will raise interest rates in December if and when frogs grow wings so they don't bump their little bottoms when they jump. Central banking is on the run, and gold will benefit. 

Silver's chart is right here, 

Same process is taking place that you see on gold's chart, all indicators pointing up. Higher prices coming. 
With the exception of that threat of instability around election day, SILVER & GOLD PRICES are firmly pointed skyward. I didn't give you charts for it today, but interest rates are rising, and, listen to my words, they will unravel the whole world's sweater. 

I opened this commentary to see that on Friday, 7 October I had dashed out of here to help Susan with a punctured tire. She made it home, but in the morning nothing I & my grandson could do would move the lug nuts. We tried to plug it, but the cut was so wide it still leaked. We had to attend a picnic an hour away, so left the car and asked my son, Zachariah the Mechanic, to change it and put on the donut spare. Went to the picnic, came back & picked up Susan's pickup at Zach's. As we headed home in separate cars, she waved me on & told me she was going by the farm to pick up ground beef for supper. We were having overnight guests we had never met, with four young children. 

Not ten minutes after I arrived at our house (The Shoe) and was talking to our guests, here comes a text from Susan: "Have punctured another tire!" She had to trudge up the hill to get a signal out of that dark holler. 

When I arrived here donut spare was worthless. I told her to just back the car up, lock it, & leave it. She did, but when she stepped out of the car in the boots she had lovingly polished that morning, she stepped ankle deep into a cowpie. Had it been me, I'd have laid down on the side of the road and given up. Two punctures and a cowpie is my limit. Instead, she tried to clean off her boot on the grass -- "Get in the car, Hon, I've got rubber mats, it's okay." At home she speedily washed off the offending boot, then went inside, made folks she had never before laid eye on feel welcome as Queen Elizabeth at Windsor Castle, fixed supper for everyone, and smiled. 

That's what the love of God overflowing from your heart can do. 

Former Haitian Senate President Calls Clintons "Common Thieves Who Should Be In Jail"

Posted: 21 Oct 2016 05:35 PM PDT

Despite repeatedly bragging about all the good work the Clinton Foundation did to help Haiti recover from the devastating 2010 earthquake, at least one Haitian, former Senate President Bernard Sansaricq, thinks it was the Clintons, not the Hiatian people, who benefitted most from the Foundation's "charitable work" in Haiti.  Appearing on a radio show last week, Sansaricq offered a scathing assessment of the Clinton's track record in Haiti saying they are "nothing but common thieves...and they should be in jail."  Per PJ Media:

Sandy Rios of American Family Radio interviewed former Haitian Senate President Bernard Sansaricq on Thursday, and the enraged Haitian had nothing good to say about the Clintons. He angrily claimed that they brought their "pay to play" politics to Haiti at the expense of the Haitian people.


Sansaricq said that the Clinton Foundation received 14.3 billion dollars in donation money to help with the relief effort. President Obama and UN Secretary General Ban Ki-moon put the Clinton Foundation in charge of the reconstruction, but Haiti has seen no help. The money all went to friends of Bill Clinton.


"They are nothing but common thieves," the enraged Sansaricq told Rios. "And they should be in jail."

As also highlighted in the movie "Clinton Cash," Sansaricq argued that the Clinton's did nothing more than bring their pay-to-play tactics to Haiti resulting in the enrichment of Clinton cronies, including Hillary's brother Anthony Rodham, whose company was awarded a lucrative gold mining contract.

Sansaricq said although Bill Clinton was put in charge of the reconstruction, he did absolutely nothing but give contracts to his cronies and built a sweatshop next to a goldmine that was given to Hillary Clinton's brother, Anthony Rodham, in violation of the Haitian constitution.


He said he could go on for hours about the Clinton Foundation's destruction of the rice production in Haiti because they were importing rice from Clinton's cronies in Arkansas. And rice is something Haiti could really use right now.


The Clintons also awarded the country's only cell phone company to another crony, Denis O'Brien, using taxpayer dollars. O'Brien has made 265 million dollars, and a substantial portion of that  has gone back to the Clinton Foundation.

Of course, these claims are hard to deny given that recently released emails, obtained through a Freedom of Information Act (FOIA) lawsuit by the Republican National Committee, and subsequently shared with ABC News, reveal very open special treatment of "Friends of Bill" ("FOB" for short) by the State Department in granting access to recovery efforts in Haiti, in which $10 billion in emergency aid was spent after the 2010 earthquake. 

The emails showed very close coordination between Caitlin Klevorick, a senior State Department official, and Amitabh Desai, the director of foreign policy for the Clinton Foundation, as they exchanged emails from Foundation donors looking to participate in the Haiti recovery efforts.  While many donors likely were just looking to make charitable contributions, others, as evidenced below, were simply looking to capture their "fair share" of $10 billion in emergency aid contracts doled out by the U.S. government.  

The following exchange between Klevorick and Dasai, with the subject line "Haiti Assistance," shows the State Department very clearly asking for "Friends of Bill" to be flagged for special consideration.

"Need you to flag when people are friends of WJC," wrote Caitlin Klevorick, then a senior State Department official who was juggling incoming offers of assistance being funneled to the State Department by the Clinton Foundation. "Most I can probably ID but not all."



Of course, this directly contradicts comments that Bill Clinton previously made to CBS' Charlie Rose just last month when he assured voters that "nothing was ever done for anybody because they were contributors to the foundation, nothing."

In another Klevorick and Dasai exchange, the State Department official asks "Is this a FOB!" saying that "If not, she should go to" (a general government website).



As also mentioned by Sansaricq, another series of messages uncovered the efforts of billionaire Denis O'Brien, a longtime donor to the Clinton Foundation and the CEO of the Jamaica-based telecom firm Digicel, to fly relief supplies into Port-au-Prince and get employees of his company out.  But when O'Brien couldn't get access to land in Port-au-Prince "through conventional channels" he turns to long-time Clinton aide Doug Band for help.  Shortly thereafter, the request was elevated to the State Department in an email with the subject line "Close friend of the Clintons." 

"This WJC VIP just called again from Jamaica to say Digicel is being pushed by US Army to get comms back up but is not being cleared by [the U.S. government] to deploy into Haiti to do so," Desai wrote in an email with the subject line "Close friend of Clintons."


Later, O'Brien writes to longtime Clinton aide Doug Band to express frustration. "We're finding it impossible to get landing slots," he says. "I'm sorry to bother you but I am not making any progress through conventional channels."


Band tasks Desai to "pls get on this," telling O'Brien, "Never a bother."


Desai then turns to Klevorick to help "a friend of President Clinton," and the request is pushed up the chain of command to USAID officials organizing the relief effort.

Of course, we have no doubt that these scandalous revelations, like many others circling the Clinton campaign at the moment, will quickly be brushed under the carpet so the mainstream media can go back to focusing on Trump's "accusers".

Must Watch!! Hillary Clinton tried to ban this video

Posted: 21 Oct 2016 04:30 PM PDT

Hillary Clinton's Strange Behavior: WHAT IS GOING ON? Shocking Video clinton works like a demon bill clinton faints 911 memorial bizarre interview hillary clinton president presidential race 2016 2017 The Financial Armageddon Economic Collapse Blog tracks trends and forecasts ,...

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End Times Headline News - October 21st, 2016

Posted: 21 Oct 2016 03:30 PM PDT

17 days, 13 hours, 12 minutes and 21 seconds until election day. News day like every other as we are living in the end days. These are your end times headline news from across the globe as they apply to the Biblical end days. The Financial Armageddon Economic Collapse Blog tracks trends...

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The Market Is a Democrat

Posted: 21 Oct 2016 02:43 PM PDT

This post The Market Is a Democrat appeared first on Daily Reckoning.

"Trump is still very much alive!" counters one reader after yesterday's controversial reckoning. David Stockman gave Trump last rites after Wednesday night's debate. And so doing, raised howls of protest from the Daily Reckoning faithful…

"Stockman needs to come out of his ivory tower and feel the emotion of most all working Americans," bristles one reader.

Another reader blasts David for either "exclusively watching mainstream media for his news updates (and believes them) or supporting the elites, the establishment, staying in control and continuing their agenda to ruin America and usher in their New World Order."

We're even losing a good reader over the row: "There is no way that Mr. Trump is finished in this presidential race! I am so disgusted with Mr. Stockman’s pessimistic anti-Trump articles that I am unsubscribing from The Daily Reckoning! How dare he attempt to discourage voters from the one candidate who can strengthen America!"

We're sorry to lose you. But let the record show David isn't tickled by a Trump loss and isn't out to discourage anyone. Nor is he on all fours with the elites or the establishment:

Hillary Clinton will be a nightmare. But what the aborted Trump candidacy has finally proved is this: The current Wall Street/Washington ruling elites will never be defeated without a thundering collapse of the financial system and without the complete discrediting of the Fed, Wall Street, the Warfare State and the Beltway racketeers who prosper from the Imperial City. So bring it on — including the demise of the GOP establishment, which Trump has thankfully already mortally wounded.

Establishment shill? Not quite. David just calls 'em as he sees 'em. And what's the market reaction to the post-debate hullaballoo?

"Muted" seems to be the watchword. “The markets’ reaction to the debate was fairly muted,” says research director Kathleen Brooks of City Index.

"The general market view that Clinton is going to win could be seen in muted reaction to Wednesday night's debate, which scientific polls showed the Democratic nominee won easily," adds Politico.

We see the Mexican peso — perhaps taking Trump's temperature — spiked after Wednesday night's debate. It fell yesterday… for what it's worth.

And today? Stocks overall are taking a breather. The Dow's down 43, the S&P's down two. The Nasdaq's actually flashing green today. Up a baker's dozen.

Oil's up a nickel, to $50.68. Gold — another Trump thermometer — is down 2½ bucks, to $1,268.

Markets say Hillary right now. That means a Hillary win's already cooked into the dish. But if Trump pulls it out, markets could be in for a Brexit-like shock. Politico:

The general consensus is that stocks might stage a bit of a relief rally once the voting is done but that movement should be limited given a Clinton victory is already largely priced into markets. A shock Trump win, however, could spark the kind of panic selling seen after the Brexit vote over the summer.

Something else the markets are just beginning to consider: a Democratic sweep through the White House and Congress. Credit Suisse's Lori Calvasina:

In many investors' minds, the perceived risks associated with a Trump victory in the presidential race have been replaced with concerns about the implications of a Democratic sweep of leadership in Congress (for both the Senate and House to flip).

So… Trump wins and it's chaos and old night. Hillary wins and it's steady as she goes. But if she wins too big — taking both houses of Congress with her — and markets face more uncertainty.

Three outcomes. One spells calm. Two don't.

Let's add another character to the drama. The Fed meets in December. If the economy stays on track, does a Hillary win mean a rate hike?

New York Fed President William Dudley said Wednesday, “If the economy stays on its current trajectory, I think … we’ll see an interest rate hike later this year.”

Add those hawkish chirps to a Hillary win and it could well mean a rate hike:

"There have been some Fed comments where they sound like they are ready to move in December. But also partly related is the market view that a hike in December is much more likely if Clinton wins than if Trump wins," said Steven Englander, Citigroup honcho of foreign exchange strategy.

Traders are now pricing in a 74% chance of a rate hike this December, up from 64% two weeks ago.

The last time the Fed raised — a year ago December — the market went on to plunge 11% over the next two months.

That in mind…

Jim Rickards was at a private dinner with New York Fed head Dudley the other night. Jim asked him if it’s the Fed's job to put a floor under the stock market. “That’s not our job,” said Dudley.

Thing is, most investors think it is. And they could soon be in for quite a shock if Dudley's right…


Brian Maher
Managing editor, The Daily Reckoning

Ed. Note: The most entertaining and informative 15-minute read of your day. That describes the free daily email edition of The Daily Reckoning. It breaks down the complex worlds of finance, politics and culture to bring you cutting-edge analysis of the day's most important events. In a way you're sure to find entertaining… even risqué at times. Click here now to sign up for FREE.

The post The Market Is a Democrat appeared first on Daily Reckoning.

What I Learned from the Second Most Powerful Central Banker in the World

Posted: 21 Oct 2016 02:06 PM PDT

This post What I Learned from the Second Most Powerful Central Banker in the World appeared first on Daily Reckoning.

As many Americans settled down to prepare for the presidential debate Wednesday night, I was at a private dinner in New York City with William Dudley, president and CEO of the Federal Reserve Bank of New York and arguably the second most powerful central banker in the world after Janet Yellen.

The atmosphere was relaxed, and Dudley was generous with his time in discussing Fed monetary policy with me and our fellow dinner companions. Of course, he was circumspect and made it clear (as he always does) that his views were personal and not the "official" views of the Federal Reserve System. Despite the disclaimer, there was no doubt in anyone's mind that we were getting a privileged view inside the mind of one of the key monetary policymakers on the planet.

The most important view Dudley expressed was his belief that the Fed will raise interest rates "before the end of the year." There are only two Fed FOMC meetings between now and the end of the year: Nov. 2 and Dec. 14.

No one expects any policy decision on Nov. 2, since it's just six days before the U.S. presidential election. The Fed may or may not be political, but they are definitely not stupid. The Fed does not want to be blamed by either side for the outcome of the presidential election, so they will take a pass.

That leaves December, and the Fed will definitely raise rates then, as I advised readers weeks ago and as Dudley confirmed last night.

Once the rate hike discussion was out of the way, the dinner conversation turned to two other equally important topics. I reminded Dudley that after the last rate hike (Dec. 16, 2015, the famous "liftoff"), the stock market fell over 11% in the following eight weeks.

That would equate to a 2,000-point drop in the Dow Jones industrial average from today's level.

I asked if the Fed was mindful of that history and if the Fed considered it important to put a floor under the stock market. Dudley disagreed with the implication and said that he saw the early 2016 stock market drop as "unconnected" to the December 2015 rate hike.

My view is the opposite. The early January 2016 stock collapse was directly related to the Fed's December 2015 rate hike and the devaluation of the Chinese yuan caused by that hike.

Dudley then suggested that the Fed is not worried at all about any damage that might be done to stock markets from the next rate hike. Dudley said it is "not our job" to put a floor under stock prices.

Taken together, these remarks told me that the status of the stock market is not an impediment to a December rate hike by the Fed, and that the Fed is unprepared for the market damage that will arise when it does hike rates.

The last topic of dinner conversation concerned the relationship between Fed rate policy and the markets, particularly when it comes to Fed communications. Dudley defended the Fed's communications policy against criticism that there were too many Fed voices giving too many speeches.

He said that "some Fed voices are more important than others." That drew laughter around the dinner table because he obviously includes himself among the "important" voices. But on a serious note, it confirmed what I've been telling readers for a long time — that the only communications worth listening to come from Yellen, Fischer, Brainard and Dudley. Most other voices can be safely ignored.

Dudley expanded his views on the communications policy by saying that far from confusing markets, the Fed is giving markets a chance to "think along with the Fed" when it comes to financial conditions, economic data and future policy.

That's a pleasant perspective, but in reality, the Fed and markets are not moving down a path together. They are going around in a feedback loop of offsetting initiatives and reaction functions that leave markets fatigued and confused — and leave the Fed impotent to achieve its goals.

Dudley was considerate in joining our dinner, and my group was appreciative of his time. The conversation was long, cordial and substantive. Despite the pleasantries, I was disturbed by what I heard…

The Fed is on track to raise rates in December in the face of weak growth data. The Fed seems unaware or unconcerned about the potential impact of a rate hike on asset valuations and investor portfolios. Finally, the Fed seems to believe that the markets understand what the Fed is doing, when in fact markets believe the Fed barely understands what it is doing. The result is confusion rather than concert.

The systemic dangers are clear. The world is moving toward a sovereign debt crisis because of too much debt and not enough growth. Declining productivity is the last nail in the coffin in terms of countries' ability to deal with the debt.

Inflation would help diminish the real value of the debt, but central banks have proved impotent at generating inflation. Now central banks face the prospect of recession and more deflation without any real policy options to fight it.

This raises the prospect of a new liquidity crisis and financial panic worse than 2008. Persistent low rates have not caused inflation, but they have caused asset bubbles, which threaten to pop and unleash a financial panic on their own — independent of tight financial conditions.

When this new panic hits (either from a liquidity shortage or bursting asset bubbles), investors will have no confidence in the ability of central banks to limit the panic. Unlike 1998 and 2008, the next panic will be unstoppable without extreme measures — including IMF money printing, lock-downs of banks and money market funds, and possible martial law in response to money riots.

Bottom line: The Fed will raise rates in December. That will be bad news for the economy and for stocks. The Fed does not see the market carnage coming.

With this as prelude, investors should hang onto short positions, build cash positions, reduce long equity bets and be prepared for continued strength in the dollar, at least through the end of the year. You should have some gold, land, and other hard assets to weather this storm. But, even with those hard assets, there's still room for a diversified portfolio. You should never go "all in" on any one asset class including gold, which is why I recommend putting only 10% of your investable assets in gold.

Beyond that, a recession and stock market sell-off in early 2017 could cause the Fed to reverse course and either cut rates or use QE next year, which would be bullish for gold.


Jim Rickards
for The Daily Reckoning

Ed. Note: The most entertaining and informative 15-minute read of your day. That describes the free daily email edition of The Daily Reckoning. It breaks down the complex worlds of finance, politics and culture to bring you cutting-edge analysis of the day's most important events. In a way you're sure to find entertaining… even risqué at times. Click here now to sign up for FREE.

The post What I Learned from the Second Most Powerful Central Banker in the World appeared first on Daily Reckoning.


Posted: 21 Oct 2016 01:30 PM PDT

 Global internet outages continue as second wave of cyber attack cripples web serversAfter cyber assault KOs Amazon, Twitter, Spotify, second attack reportedThe Coming War with Russia The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries ,...

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Gold Daily and Silver Weekly Charts - All For One, And None For You

Posted: 21 Oct 2016 01:26 PM PDT

Swiss gold exports down 9% on month to 149 metric tonnes in September. ...

Posted: 21 Oct 2016 01:02 PM PDT

... but up 4 percent for the year to date.

* * *

By George King Cassell
Platts, London
Friday, October 21, 2016

Gold exports from Switzerland totaled 149 mt in September, down 9 percent from 163 metric tonnes in August, Swiss federal customs data showed Tuesday.

The figure is 5 percent higher than 141 metric tonnes reported a year earlier but is the weakest monthly outflow since March.

Switzerland is the world's largest refiner and exporter of gold and total exports from the country now stand at 1,349 metric tonnes for the year to date, up 4 percent from 1,302 metric tonnes in the same period of 2015.

... For the remainder of the report:


K92 Mining Begins Gold Production at Kainantu Mine

Company Announcement
Wednesday, October 5, 2016

K92 Mining Inc. is pleased to announce that gold production has commenced from the Irumafimpa gold deposit.

Ian Stalker, K92 Chief Executive Officer, says: "This milestone is highly significant for our company, and for this region of Papua New Guinea. A great deal of thanks goes to the entire team on site in PNG in achieving production ahead of schedule and on budget. The rehabilitation of the Irumafimpa gold mine, process plant, and associated infrastructure commenced in late March and is now complete. As an enhancement of the processing facility, we are also pleased to note that the installation of a new drum scrubber is also nearing completion and commissioning of this will be completed by the end of the month. ..."

...For the remainder of the announcement:

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana

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

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

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit:

GATA Chairman Murphy interviewed by TF Metals Report

Posted: 21 Oct 2016 12:51 PM PDT

3:53p Friday, October 21, 2016

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy was interviewed Thursday by the TF Metals Report, discussing progress in the gold and silver market manipulation lawsuits, the failure of monetary metals mining executives to challenge market manipulation, the circumstances that might break the manipulation, and other subjects. The interview is 38 minutes long and can be heard at the TF Metals Report here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


A Lone Congressional Candidate Campaigns on the Gold Standard

The New York Sun just endorsed Connecticut Republican congressional candidate Daria Novak, based on her support for restoring the gold standard:

Daria needs us to contribute $1,000, $500, $250, $100, $50, or whatever we can afford in the fiat money that is sleeping in our checkbooks. As the Sun wrote, "She vows to crusade" on the gold standard "as key to getting job creation, economic security, and upward mobility back at a sizzling rate." Novak has been endorsed by gold standard and sound money advocates George Gilder, Lawrence Kudlow, Jimmy Kemp (Jack Kemp's son), and Jeffrey Bell ... along with Steve Forbes, who calls Ms. Novak "the prosperity heroine."

To donate to Daria's campaign, please visit:

Daria will personally thank all contributors.

Daria Novak is gold's lonely champion. Give her your backing and put a voice for gold in Congress.

This message was authorized by Daria Novak for Congress.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana

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

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

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit:

TF Metals Report: Gold offtake at Comex explodes

Posted: 21 Oct 2016 12:43 PM PDT

3:45p ET Friyda, October 21, 2016

Dear Friend of GATA and Gold:

Gold offtake through contracts on the New York Commodities Exchange have exploded this year, the TF Metals Report's Turd Ferguson writes today. October deliveries have increased by nine times over the same month last year. His analysis is headlined "Comex Gold October 'Deliveries'" and it's posted at the TF Metals Report here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at:

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana

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

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

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit:

LBMA 2016: 30 Gold Facts, Figures & Rumors

Posted: 21 Oct 2016 12:09 PM PDT

Bullion Vault

The Final Bottom in Gold - WHEN

Posted: 21 Oct 2016 12:02 PM PDT

The big decline in the precious metals appears to already be underway (even though we are in a short-term corrective upswing) and it seems that gold will move much lower in the coming months even though it’s likely to move higher in the coming days. The big decline remains to be the most important development for gold and silver investors. Why? Because this decline’s end is likely to present the ultimate buying opportunity for precious metals and for mining stocks.

Gold Green Lights Upleg

Posted: 21 Oct 2016 11:54 AM PDT

Gold’s early-October plunge on futures speculators’ stop losses being run has naturally left this metal mired in battered technicals and bearish sentiment.  But that sharp selloff has already accomplished its rebalancing mission.  The excessive gold-futures trading positions that triggered that stop running have already reversed, and the investors fueling gold’s bull are starting to buy again.  Gold is green lighting its next upleg. Gold’s price action in recent years has been overwhelmingly dominated by just two groups of traders.  Gold-futures speculators effectively control gold’s short-term behavior, as futures’ extreme inherent leverage gives their capital wildly-outsized influence.  And investors, specifically American stock investors buying and selling shares in the flagship GLD SPDR Gold Shares gold ETF, have commanded gold’s longer-term moves.

Chinese Leaders Fear Military Revolt | China Uncensored

Posted: 21 Oct 2016 11:00 AM PDT

 Out-of-work soldiers are a dangerous prospect. Could this destabilize the Chinese regime? 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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Gold Green Lights Upleg

Posted: 21 Oct 2016 10:01 AM PDT


Shocking Proof That the Election Is Rigged…

Posted: 21 Oct 2016 09:34 AM PDT

This post Shocking Proof That the Election Is Rigged… appeared first on Daily Reckoning.

Like him or not, Donald Trump is right…

The presidential election has been "rigged."

I'm not talking about Democratic operatives stuffing ballot boxes. Not that kind of "rigging."

What I'm referring to is a systematic manipulation of the electoral process that's been happening far away from polling stations but right in front of our eyes.

And no one has the power to stop it…

The Ascension of Queen Hillary

CNN, MSNBC, NBC, ABC, CBS, the New York Times, Facebook, Google, the Washington Post, etc. love to dismiss talk about a "rigged" election as the work of tinfoil hat-wearing conspiracy theorists.

But what happens when the conspiracy stops being theory and starts becoming fact?

Consider Clinton's ascension to the throne of the American presidency…

It's played out like a quintessential Hollywood political thriller featuring every cliché you can imagine… hundreds of millions in payoffs, shady deals, government cover-ups and media collusion.

There is documented evidence of the Democratic National Committee (DNC) secretly colluding with the Clinton campaign to defeat insurgent Bernie Sanders in the Democratic primary.

Not only did they steal the nomination from the socialist Sanders but they forced him to lick Hillary's boot with an endorsement. Wonder what they had on him that warranted him throwing all of his supporters under his VW bus?

The next obstacle in Clinton's path to power was her private email server scandal. But her backroom cronies took care of that one too.

The episode is best summed up by Holman Jenkins in the Wall Street Journal:

"Mrs. Clinton was verbally convicted by the FBI chief for mishandling classified information yet somehow not formally charged. Her aides were allowed to cut curious deals with FBI investigators that effectively swept under the rug any possible charges against them for obstruction or evidence tampering."

The latest Wikileaks release even shows the State Department – the lead institution for American diplomacy – getting involved by trying to reduce Clinton's legal jeopardy by offering a quid pro quo deal with the FBI.

And all the while, the press has run cover for Clinton.

Wikileaks has revealed that some of the most prominent journalists in the world are no more than Democratic operatives with a byline…

CNBC's John Harwood acted as an informal advisor to Clinton's campaign while also posing as an impartial moderator at the first Republican primary debate.

Glenn Thrush, Chief Political Correspondent at POLITICO, was caught red-handed submitting his stories to Clinton's campaign chief, John Podesta, for approval before publishing.

Donna Brazile, formerly of CNN and now DNC chair (shocking transition!), was caught giving the Clinton campaign debate questions beforehand while working at CNN as a journalist.

Go watch her Megyn Kelly interview where she starts sweating. You might just puke in your mouth at her contempt for any sense of right and wrong.

And the media collusion was so blatant that when Clinton face plants and passes out at the 9/11 Memorial, there is a coordinated media talking point sent out to use the word "stumble" when describing her collapse.

They do this even though there is video that shows it's 100% false.

From the beginning, the insiders have all done their part to keep the Clinton train rolling forward.

The End of the Road

The polls show this is likely the end of the road for Trump. Frankly, I'm shocked he's gotten this far.

His entire campaign has been a guided missile aimed at the Deep State's Death Star.

No candidate in history has been so direct about draining the swamp in Washington, D.C. And no outsider has gotten this close to the ultimate seat of power as Trump has.

So they took him out and publicly waterboarded him.

I told you they were going to throw the kitchen sink at Trump.

And that's just what they did with the coordinated release of sexual allegations against him just weeks before Election Day… allegations withheld until it was "go time."

Don't get me wrong. I'm not defending Trump.

His behavior and his egregious lack of discipline on the campaign trail gave the media the excuse it needed to regularly freak out over his miscues while ignoring Clinton's criminality.

But does Trump's run leave the door open for another reformist outsider to run for President next time around?

Doubtful. Who in their right mind wants to take the arrows Trump took?

No sane person, that's for sure.

The real lesson of this election is this…

America has crossed the point of no return.

The system has become so corrupt that the insiders will NEVER cede power.

We're watching the disintegration of America.

Ask yourself…

Do you have a Plan B when it hits the fan?

Do you have a wealth protection strategy that will help you grow your nest egg no matter what happens with the market?

If not, it's time to get started with Trend Following

Please send your comments to me at Let me know what you think of today’s issue.


Michael Covel
for The Daily Reckoning

Ed. Note: The most entertaining and informative 15-minute read of your day. That describes the free daily email edition of The Daily Reckoning. It breaks down the complex worlds of finance, politics and culture to bring you cutting-edge analysis of the day's most important events. In a way you're sure to find entertaining… even risqué at times. Click here now to sign up for FREE.

The post Shocking Proof That the Election Is Rigged… appeared first on Daily Reckoning.

The Crash of 2017 Not to be Delayed Any Longer Harry Dent

Posted: 21 Oct 2016 08:02 AM PDT

One of our most popular and well researched guests, Harry continues to deliver on his predictions of deflation and a stock market bubble popping. He has a new book just released "The Sale of a Lifetime" putting his name on the line for his prediction. His take on gold may shock you, be sure to...

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Gold Is Near The 2011 Highs

Posted: 21 Oct 2016 06:13 AM PDT

Gold Is Near The 2011 Highs
By Egon von Greyerz


There are a lot of people who are concerned about the performance of gold and the fact that the price after four years of correction is still so far from the high. The mistake that most people make is to measure gold in US dollars. We are seeing currently very … Read the rest

Demand for US Mints Silver Eagles has ‘Returned with a Vengeance’

Posted: 21 Oct 2016 04:32 AM PDT

As gold and silver step back slightly to sit and wait for US economic data to be released later today we bring you news of the US Mint Silver Eagle demand that has ‘Returned with a Vengeance’ as reported by Last month it seemed some of the heat had come out of the US Mint Silver market when sales had failed to maintain the momentum seen in the first five months of the year when between 5.9m and 4 million coins had been sold each month.

Lidl faces sales 'collapse' at its older shops

Posted: 21 Oct 2016 04:30 AM PDT

This posting includes an audio/video/photo media file: Download Now

Quantitative Easing, Helicopter Money and Gold

Posted: 21 Oct 2016 04:05 AM PDT

To properly understand helicopter money and its potential effects for the gold market, it is necessary to analyze differences between it and quantitative easing. In some senses, both tools are similar as they support the government budget. Some analysts even call quantitative easing in ‘helicopter money in disguise’. However, there are a few important differences between these two monetary policies, as one can see in the table below.

Don Coxe: Raise Cash, Hold Gold

Posted: 20 Oct 2016 05:00 PM PDT

Problems are cropping up around the world. In the Middle East, we've seen Obama sacrifice everything to get the nuclear deal with Iran, Coxe stated. The center of conflict has shift, he added, with Europe no longer being the epicenter.

Gold Bars Go to $6 Premium in China as Yuan Hits Fresh 6-Year Lows on Capital Outflows

Posted: 20 Oct 2016 05:00 PM PDT

Gold prices traded in London's wholesale market steadied against the rising US Dollar Friday, heading for a solid weekly gain versus all major currencies as the Chinese Yuan hit fresh 6-year lows on the FX market.

It's Rally Time for Gold and Silver Equities

Posted: 20 Oct 2016 07:55 AM PDT

Precious metals expert Michael Ballanger discusses the uptick in gold and silver miners and the Deutsche Bank gold bullion settlement. One of the more striking developments in the bizarro world of gold and silver trading has to be yesterday's settlement between Deutsche Bank and a class-action group that alleged that the bullion banks (DB, Scotia and HSBC) were manipulating the physical and Comex silver futures market since 2007; what is laughable and disgusting is the size of the settlement—$38 million. It's like Lee Harvey Oswald being charged with "Assault with a Deadly Weapon" and winding up with a misdemeanor. Then again, it is really no different than Libor-rigging or the sub-prime mortgage fraud or more recently the Wells Fargo scam.

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