Sunday, January 1, 2017

Gold World News Flash

Gold World News Flash


Germany's gold reserves in U.S. were only paper claims

Posted: 02 Jan 2017 07:14 AM PST

As it often has done before, Germany's Bundesbank has released news at Christmastime to avoid critical examination and discussion, this time news about its repatriation of the nation's gold reserves. The repatriated tonnage volume reported -- "approximately 200 tonnes," bringing the total of gold repatriated to approximately 1,580 tonnes or 47 percent of Germany's gold reserves -- is OK, not spectacular. And this month there was far more important news about Germany's gold, though it was overlooked.

Another Interview With Silver Guru Ted Butler

Posted: 02 Jan 2017 07:12 AM PST

I can't imagine substitute silver sellers stepping forward to replace them except at very high prices. As it stands now, eight commercial traders, many of them banks, hold a net short position of 85,000 contracts or 425 million ounces. There's nobody to take their place at these low prices. JPMorgan figured all this out long ago and that's one of the reasons they bought so much physical silver. There was no other way for them to cover without sending silver into orbit. You're truly looking at the opportunity of a lifetime with silver. You just have to relax and let it play out.

“Gold has peaked for the year”, revisited

Posted: 02 Jan 2017 07:02 AM PST

Gold's poor performance during the second half of 2016 was consistent with what I refer to as the true fundamentals*. This means that it wasn't the result of downward manipulation. That being said, the great thing about believing that market trends have almost nothing to do with "fundamentals" and almost everything to do with manipulation is that you never have to be wrong. If any market goes against you it was due to the distortive effects of manipulation rather than a fatal flaw in your analysis.

World Bank Whistleblowe Exposes The COMING Economic Collapse

Posted: 31 Dec 2016 09:00 PM PST

TRUMP needs to hire this person for treasury sec. Instead of gold and silver being tied to the money,we as humans are the collateral since they have taken those resources from us thru a series of scams via Woodrow Wilson. The Financial Armageddon Economic Collapse Blog tracks trends and...

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This Year in Stupid (2016)

Posted: 31 Dec 2016 08:30 PM PST

The Left has dug its own grave. 2016: The year of stupid and cancer.And dank memes, the dankest of which will be the next POTUS. 2017 is going to be a hell of a year, The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

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Criminal Witch Hunt In Dallas Pension Fiasco

Posted: 31 Dec 2016 06:00 PM PST

Submitted by Michael Shedlock via MishTalk.com,

In the wake of the near collapse of the Dallas police and fire pension fund, a Dallas News editorial says Former Police, Fire Pension Managers Should Face Criminal Investigation.

dallas-pension6

Mayor Mike Rawlings is right to ask for a state criminal investigation into shady practices by the Dallas Police and Fire Pension System’s prior management.

 

The fund is on the verge of a potentially catastrophic collapse that could leave public safety workers, taxpayers and the City of Dallas on the hook for billions of dollars. And the reason stems from abuses under the former administrator Richard Tettamant, who was ousted in 2014.

 

The fund’s former managers bet heavily on risky investments such as luxury homes in Hawaii, a resort and vineyard in California and Dallas’ Museum Tower itself, and promised its hardworking police and fire employees unrealistic returns while enjoying lavish perks.

 

Those returns didn’t materialize, saddling the retirement fund’s new managers with $2 billion to $5 billion in unfunded liabilities. Frightened police officers and firefighters began a run on the fund, pulling more than $500 million out of it in recent weeks at a pace that would have drained the fund’s cash to dangerous levels.

 

The city of Dallas contends it is not legally responsible for the actions of the pension fund’s former managers, in part, because the city doesn’t control the fund, which was set up decades ago by the Texas Legislature. But the city is on the hook nonetheless; a failure of the fund would betray promises made to current and retired public safety workers and would make it much more difficult for the city to recruit new police officers and firefighters.

 

Too many people are at risk and those who put them there need to be called to account for their actions.

Criminal Witch Hunt

I am not here to defend the investment schemes of the fund managers. And I certainly take exception to alleged lavish perks. But this case is going nowhere.

If one wants to place blame, then blame rests squarely on the shoulders of the legislature that authorized the plan and established the absurd pension assumptions.

Perks did not cause the pension plan to be ridiculously underfunded. Rather, ridiculous plan assumptions steered the managers into risky assets.

In hindsight, it’s easy to say the fund should have thrown it all at Google, Apple, etc. Care to make the same case going forward?

Taxpayers on the Hook?

Taxpayers should not be on the hook for this mess. The promises were bound to fail from the get go.

The fault for this mess is squarely in the hands of politicians, not those running the fund.

Nearly every public pension plan in the nation is severely underfunded. There is nothing special about Dallas.

However, politicians will never point the finger at themselves. So the witch hunt is on.

Related Articles

  1. Dallas Police Retiring in Droves, Taking Lump Sum Pensions, Fearing the Money Isn’t There (And It Isn’t)
  2. Dallas Pension Showdown: Mayor Seeks to “Target Those Who Got Rich From System”
  3. Not Just Dallas: Fort Worth Employees’ Pension Plan in Deep Trouble

The only realistic solution to this mess is massive haircuts on pension assumptions, one of two ways: Voluntary or in bankruptcy court.

Italy Bailout Plan Rapidly Sending Insane Debt Out of Control! All Banks Will Follow

Posted: 31 Dec 2016 05:00 PM PST

EU leaders know that if they allow an Italian bank to fail that the Italian people will beg for their Lira back. I imagine we will see some very "creative" solutions... until the imagination runs out The Financial Armageddon Economic Collapse Blog tracks trends and forecasts ,...

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"Something For Nothing" All-Weather Funds Disappoint In Post-Election Era

Posted: 31 Dec 2016 04:40 PM PST

Variously marketed as "all-weather", "all-season", or "bulletproof", the so-called "risk-parity" strategies of some of the world's largest hedge funds have been anything but 'stable' since the election as the combination of leverage and bond losses have crushed the gains from an exuberant equity market.

Promise people something for nothing and you are going to attract a lot of attention. Stumble in the process and the critics will be quick to pounce.

As The Wall Street Journal reports, the weeks since the election have been rough for one of the most polarizing investment strategies out there: risk parity.

The strategy - which simply put, involves using diversification - and sometimes borrowed money (leverage) - to find an (historically-optimized) balance between risk and return.

Bridgewater’s variant of this strategy, for example, has historically used borrowed money to invest about $1.50 for each dollar in assets, often putting the leverage in historically less-volatile bonds. The goal is stocklike returns with less volatility.

Problems occur when histroical relationships between asset-classes break down... just as they did during this year (when the historical norm of inversely correlated bond and stock prices reversed completely)...

The post-election rally in stocks and selloff in bonds hit these portfolios, embolding critics of the approach...

Bonds have been in a bull market for 35 years, so adding leverage would have produced strong returns for a modest increase in volatility, says Ben Inker of fund management firm GMO. He also argues that “volatility and risk are not the same.”

As WSJ concludes, the strategy has sharply underperformed both stocks and a traditional 60% stock 40% bond index fund offered by Vanguard since 1993.

Without the benefit of leverage, lower volatility equals lower returns. Even with it, though, there are occasional bumps in the road. For investors whose moods are as fickle as the weather, risk parity may involve more risk than reward.

The Real Secrets of Alien Covenant Leaked - Alex Jones is Spot On

Posted: 31 Dec 2016 04:30 PM PST

Alex Jones explains the Secret behind the Shadow Government's genetic bombardment of the organic life on earth. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers ,...

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The Pyramids Of Antarctica Conspiracy

Posted: 31 Dec 2016 04:00 PM PST

 Could an ancient civilization have existed in Antarctica thousands of years ago? Possibly even the legendary city of Atlantis? Alltime Conspiracy investigates. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative...

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Global Recession And Other Visions For 2017

Posted: 31 Dec 2016 04:00 PM PST

Submitted by Economic Prism's MN Gordon via Acting-Man.com,

Conjuring Up Visions

Today’s a day for considering new hopes, new dreams, and new hallucinations.  The New Year is here, after all.  Now is the time to turn over a new leaf and start afresh. Naturally, 2017 will be the year you get exactly what’s coming to you. Both good and bad.  But what else will happen?

 

Image of a recently discarded vision…

 

 

Here we begin by closing our eyes and slowing our breath.  We let our mind role back into the gray matter of our brain.  We wait patiently for new neurological connections to open up.  Then, ever so subtly, visions of the year ahead come into focus.

Will stocks go up or down?  What about gold and Treasury bonds?  Will the economy expand or contract?  Are we fated for World War III?  Who will win the Super Bowl? These are the questions – and more – we intend to answer.

Obviously, conjuring up visions is more art than science.  But so is Fed monetary policy. Nonetheless, before we get to it we must first lean upon ancient Chinese Philosopher Lao Tzu for a full disclaimer:

Those who have knowledge, don’t predict.  Those who predict, don’t have knowledge.

Hence, what follows comes from a place of zero knowledge.  We know nothing.  Still we sharpen our pencils and face our limitations.  What follows, for fun and for free, are several simple conjectures for the year ahead…

 

Global Recession

To start, the animal spirits and optimism that greeted Donald Trump’s election victory will flame out not long after inauguration day.  Without a major economic crisis, it will be near impossible to get substantial – $2 trillion deficit – spending approved by Congress.  Moreover, even if massive fiscal stimulus is approved it won’t make much of a lick to the economy for four quarters or more – if ever.

One lesson of the 2009 American Recovery and Reinvestment Act is that throwing money at infrastructure projects is more complex than commonly appreciated.  Shovel ready projects don’t exist.  In particular, shovel ready infrastructure projects that could generate significant growth in high paying jobs are hard to come by with just the inking of a stimulus bill.

 

The surplus shovels from the last batch of shovel-ready infrastructure projects are still in the process of being dumped…

 

No doubt, this lesson was quickly forgotten when the sky stopped falling just after the darkest days of the Great Recession.  So, too, it’ll be quickly remembered.  Soon enough, the realization that stimulus spending won’t provide an immediate lift to the economy will spread across Wall Street and the post-election stock market rally will reverse.

Similarly, the Fed’s efforts to ‘normalize’ interest rates will be tabled.  The economy simply can’t afford higher rates.  This isn’t Trump’s fault, of course.  He’s been handed a badly damaged economy.

Quite frankly, there’s really no way to fix it.  Decades of economic degradation are irreversible.  Adding new debt based stimulus will only further the overall divergence between debt and GDP.

Specifically, the debt will grow larger while GDP slouches forward.  On top of that, larger deficits will eventually ignite a level of consumer price inflation that hasn’t dramatically flared up since the early 1980s.  A scenario of slow growth and rising consumer price inflation will emerge at some point.

But first something else must come to pass.  By mid-year it will become all too apparent that the global economy, including the United States, Europe, China, and Japan, are in a full blown recession.

The Fed will quickly return to zero interest rate policy.  Ten Year Treasury yields will again slip below 2 percent as investors blindly plow their capital back into the ‘safest investment in the world’ at precisely the most dangerous time.

The S&P 500, presently near its all-time high, will rapidly descend to 1,200.  And, only then, when fear has reached its extreme, will Congress be ready to go along with Trump’s massive fiscal spending program.

 

The interesting Wile E. Coyote moment of blissful weightlessness shortly after passing the all time high…

 

Other Visions for 2017

That’s when things will go really haywire.  By then the effects of infrastructure stimulus will be considered too slow to save the economy from itself.  Calls for a direct economic jolt will be made by Larry Summers as he lobbies to replace Janet Yellen as Fed Head.

Direct monetization of the debt in the form of ‘tax rebate checks’ will be mailed out to every working age citizen whether they have a taxable income or not.  Alas, any temporary boost to the economy these efforts encourage will be overwhelmed by rising price inflation… and higher interest rates.

The strong dollar trend will also reverse in earnest by the second quarter.  About this time gold will once again glitter.  Consequently, the first three months of the year will be a fantastic time to accumulate and add to your physical gold hoard.  By mid-April gold will be back above $1,350 per ounce.

Indeed, the coming year will be one of great distress.  As the global economy slips and slides into recession, world politicians will look to distract blame from their own bungles.  They’ll seize any diversion afforded to them to channel the discontents of their masses.  They’ll blunder outward in search of a new mission and greater purpose for their young and idle.

Global factions are on a collision course for war.  We wish this weren’t so.  But, unfortunately, ongoing territorial disputes between China, Malaysia, Philippines, Taiwan, and Vietnam over the Spratly Islands in the South China Sea will continue to escalate.

Likewise, ancient territorial disagreements between Japan and China over the Senkaku-Diaoyu Islands in the East China Sea will deepen.  These disputes, and a burgeoning arms race, could provide the perfect diversion for China and Japan as their debt fueled economies unravel.

On a high note, we start the New Year hopeful that a lasting ceasefire has been reached in the proxy Syria war – in spite of the failings of the United Nations and the Obama administration.  In addition, there are numerous other reasons for optimism as we enter 2017.

For example, right now, in cities across the globe, brilliant minds at the fringe of scientific propriety are but one experiment away from the big energy breakthrough humanity’s been waiting more than 45-years for.  Unfettered by academic zealotry, this new scientific discovery will not come from a leading research or government institution.

Like all great discoveries in our time, it will come from a small team of eccentrics operating out of a garage on a shoestring budget. What we mean is, in the words of the late Gordon MacKenzie:

“Orville Wright did not have a pilot’s license.”

 

What is this? Flying without a license?  Obviously, the pre-world war age must have been pure chaos… not enough regulations, as Ben Bernanke would say!

 

Lastly, the Dallas Cowboys will win the Super Bowl.

 

The best part of the Dallas Cowboys. In late 2015 the team became the most valuable sports team in the world, surpassing Real Madrid – with its estimated net worth reaching $4 bn.

Happy New Year!

Narrative Smashed By Stats - "Most Americans" Did Not Vote For Hillary Clinton

Posted: 31 Dec 2016 03:55 PM PST

Submitted by Salil Mehta via Statistical Ideas blog,

Happy New Year!  As we wrap up another successful year of the statistics blog (now with >50k followers), we would be remiss not to recognize some nice friends who are still feeling disappointed over the outcome of the recent U.S. election.  It is worth exploring a little more about the election results, based on the most updated voting records.  Particularly as the Democrats have pivoted the tête-à-tête from recount and FBI director Comey, to popular vote and Russian president Putin. 

What does it mean to now imply that "most Americans" voted for Democratic ideals, given the results (looked at through the prism of a popular vote tabulation) showed Hillary Clinton won by only a couple percent? 

It turns out that this sort of conclusion is false, and instead it leads to one party presuming to hold a mighty moral high-ground from their ¼ voting share? 

From a peak in 2008, now through 2016, those not caring to vote (in white below) continuously rose to 45% (from 43%).  This is a higher voter apathy than in virtually all other advanced countries.  And frankly, it is the largest American segment of 114m (up from 99m).  Last-minute undecideds (including me) rose.

Additionally, the voting share for the popular vote "winner" (in blue below) fell to 48% (from 53%), or as a portion of the entire eligible population (as opposed to as a portion of voters) it fell to 26% (from 30%).  So on net, even as the population grew, a small fraction voted (and within that an even smaller fraction voted for the popular vote "winner").  This results in Hillary Clinton not epitomizing the views of "most Americans" even if she "won the popular vote", but rather supported by only 66 million Americans (down from 70 million who voted for Barack Obama in 2008).

I'm with her?  Observe their share of the pie, below!  Democrats have simply seen a continuously dwindling moral-standing to speak for all Americans, even as the population has grown in the past 8 years.

So now back to my friends who are still feeling sour over the Presidential election and looking for relief.  I feel a particular sense of responsibility since my polling probability research was read by millions and continuously solicited/shared by one party, and always properly showed Donald Trump had much stronger odds (~3x) versus what MSM polls or Nate Silver were "scientifically" suggesting.  It is worth noting something here at year-end: it's an acutely individual loss, to not see that there are so many tremendous and long-term opportunities we get to enjoy, just living in a great nation such as the United States.  We get most things right, most of the time.  We get to argue about politics and not worry about a knock on our door in the middle of the night.

The rest of the world has already moved on, as they should.  They really never cared as much about you, or your candidate (just as ½ of our own country doesn't, per above).  That was mainstream media noise that fooled you.  And having worked for many years, in and out of Washington, we can assure you that well over 90% of people have issues so much larger than who was or will be in the White House.  Yet it's captivating, nonetheless, the amount of attention spent in social circles defying this actuality, and presuming moral high-ground by  falsely twisting statistics to suit private needs.  By setting some simple statistics straight, we honestly hope 2017 ushers in a new era of knowledge, contentment and worldly views, as we leave the disparaging partisan choke-hold of the 2016 elections behind.

Jim’s Mailbox

Posted: 31 Dec 2016 03:17 PM PST

Hi Jim, I have had so many new people sign up for Warren Pollock’s interview notes for 12/28/16 that I am resending them. Here is a link to the notes for all: http://usawatchdog.com/wp-content/uploads/2016/12/12-28-2016-USAWatchdog-Warren-Pollock-Research-Notes.pdf Thank you all for your support. Greg Hunter Compliments of CIGA Gijsbert ALERT: Major End Of The Year Update On The Gold... Read more »

The post Jim’s Mailbox appeared first on Jim Sinclair's Mineset.

Euronomics Decomposing, Raise a Glass of Cheer!

Posted: 31 Dec 2016 02:25 PM PST

This article by David Haggith was first published on The Great Recession Blog: 

By ECB - European Central Bank (Flickr.com) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

Europeans must have been delighted to discover that one thing is working as well as it has since the start of the Great Recession. Behemoth banks that are failing are still able to pay their Christmas bonuses to their top executives and give nice dividends to their shareholders thanks to Super Mario Draghi. 

Keeping up the tradition of central bankers looking out for other bankers, Mario Draghi, chief of the European Central Bank "agreed to lower the minimum capital requirements for Deutsche Bank on Tuesday, 'giving the lender more leeway to structure bonus payments and dividends.'" (Zero Hedge).

Thank God for that, huh? The needs of the stockholders and top execs have been taken care of before one of the world's oldest megabanks falls on everyone else. While Deutsche Bank's stocks sit at all-time lows after it has been required to pay $8 billion in fines, at least the golden parachutes are in top condition.

 

Italy surrenders to Germany

 

Meanwhile, the world's oldest bank in Italy got nationalized for Christmas so that the losses of capitalists — many of whom exist outside of Italy — could all be socialized to the people of Italy. However, when the People's Republic of Italy became the new owner of the bank, they found out the hole in the bank's core was bigger than they thought. (Surprise.)

The ECB now estimates to hole to be 8.8 billion euros, rather than the 5 billion of additional capital that they formerly believed it needed. That's a 75% increase in the bank's capital shortfall that took place from November through December. What a sleigh ride!

Turns out that all the talk of nationalizing the bank caused depositors to rapidly withdraw funds (who woulda thought?), creating something of a black hole in the bank's core. Lingering depositors don't need to worry, though, because the Italian parliament has assured them that all Italians are equally on the hook for the bank's losses by guaranteeing a 20-billion euro fund to stabilize any Italian banks that are too big to fail.

In Monte's case, the Italian government will invest 6.3 billion euros of this fund into filling the growing hole, and rest will be squeezed out of bond-holders. (Of course, that news is bound to send even the lingerers running if they know what's good for them, but obviously they don't, or they wouldn't still have been there when all this went down, as warnings have been evident for a couple of years.)

Gee, whatever happened to bail-ins putting the bank's salvation primarily in the hands of share-holders, bond-holders and major depositors? Look's like the government still believes general taxpayers should front the biggest wad. So, you'll be glad to know that, even in Italy, the principles of saving too-big-to-fail banks at the start of the Great Recession are still largely in play. The costs of failing capitalists shall be largely socialized upon the poorer parts of the population because their citizens have happily allowed banks to remain too big to fail.

Maybe the depositors were all withdrawing their money to buy Christmas presents, so Italy will be saved by a Santa Clause rally. (It is no more wishful than thinking these bank will not ultimately pull down their governments. This was, after all, the bank's third bailout. Keep bailing.)

Italy is the eight-largest economy in the world, third-largest in Europe, and its GDP per capita hasn't grown since the Great Recession. It has issued the third-largest amount of sovereign bonds in the world to survive its relentlessly unfolding debt catastrophe, many of which are held by banks and central banks outside of Italy.

On top of that, eighteen percent of all bank loans in Italy are bad debt that has been carried on the books since the Great Recession. Italian banks don't write off this long-term bad debt because they have less than 50% of the capital they need in order to cover it. So, they pretend their customers will all win the Italian Lotto and pay up. Since GDP per capita is sinking, the ability of each customer to ever pay one of these debts off is ever diminishing. The Super Mario jackpot better pay off real soon.

No wonder Italians took a big step toward their own euro exit on December 4th. Back when they had their own currency, they could, at least, try to inflate their way out of trouble. They could lower the lira's value in order to draw trade away from Germany and toward Italian products. Now they socialize debts away from German (and other non-Italian) bond owners and bank holders toward the Italian populace.

 

Owed to Grecians earning less

 

Meanwhile in Greece, people have started rejecting their own inheritances in order to save themselves. At this point in the Greek crisis, so much real estate is underwater that it is worth less than it is worth. You don't even want to inherit it for free because you cannot sell it for enough to pay off its debt if you accept it.

With incomes falling (unemployment is at 23%) and taxes rising (particularly property tax) to meet Eurozone austerity requirements, old people have heaped mortgages onto their properties to make it through their declining years. To receive an inheritance from your parents is to receive their bundled debts.

Thirty-two percent of all property loans in Greece are now delinquent. So much for the ultimate safe haven. So many properties in foreclosure sales drives down the price, making the next round worse. So, beware of dead Greeks bearing gifts if they are willing them to you. Gift recipients are lining up in government cues to decline their inheritance. Wealth destruction via real estate.

But Europe has this solved. If everything goes well with Greece, the Greek's condition is expected to resolve back to a normal economy in just fifty years! The Greek debt burden is about 177% of its entire Gross Domestic Product; compare that to the US now at a paltry 100%. Europe calculates the Greek's situation will improve by 20% come the year 2060. Do you think maybe these people are debt slaves for life? I think they were better off under Rome in AD Zero than under Germany.

Germany is helping out, after requiring some rather Spartan austerity, by proposing that all of Europe send its refugees goose-stepping toward Greece in order to save the northern states of Europe from those social and financial burdens. That ought to stomp out the tiny nation, which can't even look out for its own welfare. Greece already has bottled up huge amounts of resentment against both Europe and its own government. Germany seems blindly determined to use its immigration policies to destroy its own European union. "Here, feed our poor and wandering masses while you Greeks lick the bottoms of our boots for nourishment."

Not sure who's doing the math over there, but it doesn't add up to success.

 

And now for a Bilderberg Bonanza:

 

(In case you are stunningly new to the world of conspiracy theories, the uber-elite one-percenters meet at the Hotel Bilderberg once a year to control the world through sub committees like the Illuminati … or something like that. Anyway, they're really rich, and they suck.)

The hacker group Anonymous seized control of the Bilderberg website today, posting the following message as the site's new home page:

 

…Dear Bilderberg mEmBers, From NoW(), each OnE of you have 1 year (365 days) to truly work in faVor of HumaNs and not youR private interests…. MiNd the cuRrent situation: We conTrol your expensive connected cars, we control your connecteD house security devices, we control your daughter laptop, we control your wife's mobile, we tape YoUR seCret meetings, we reAD your emaiLs, we control your faVoriTe eScort girl smartWatch, we ARe inside your beLoved banks and we Are reading YoUr assets  You wont be safe anywhere near electricity anyMore  We WiLL watch yOu, from NoW on you got to WoRk for Us, Humanity, the People

 

They had other choice words, too; but I don't know if I recommend going to their site to check it out because who knows what it does to your computer while you're there, but the link is provided for the brave of heart. I did and lived to tell about it. Maybe I'll find out otherwise when a certain date clicks by.

It's getting harder for the globalists to feel safe in their dark-paneled, smoke filled hotel meeting rooms, high in the citadels of Germany, Switzerland, or down inhabiting the swampy Netherlands and other such heady retreats … and this is why they want to control the internet.

 

The Christmas present from Fundamentalist Islam

 

Subsequent to the Christmas bombing in Berlin, Europe is proposing tighter restrictions on the movement of cash and precious metals. (This is one more reason that gold is not necessarily a safe haven in any nation because stringent controls were placed on gold in the US during the Great Depression, too. It happens; so, diversify.)

The European Commission says that tighter controls will help shut-down funding for militant operations on the continent. I'm not sure how that will stop a guy from driving a truck into a crowd in Berlin, but maybe it will keep him from getting money for fuel. I think it is more likely that any excuse will do when bankers see people fleeing their proprietary product (money) for generic gold and need to find reasons to slow down the gold traffic. Probably more concerned about that than they are thinking this plan will slow down truck traffic in crowded streets.

Of course, that's also why central banks own so much of the yellow stuff they hate — so they can throw it off as ballast whenever there is a run on banks in order to try to kill the price of gold and scare people away from it. Why else would they keep so much of something they say is a poor investment, other than to control the only competition in town to their monopoly?

The EU is also proposing stricter controls on the movement of Bitcoin funds. The new rules will allow seizure of funds, including gold, wherever "there are suspicions of criminal activity." It's unclear whether suspicion also requires a warrant, or just (that's a lot of money, and I think you look funny or you had a drink with a bad guy).

While the European Commissions solves its immigrant-created catastrophes with golden rules, widespread unrest is becoming the norm due to the over-exuberant globalists' drive to soak up unscreened Muslim refuges that are not integrating well into European society. They are almost entirely unemployed and sucking up social welfare that those unemployed Greeks and Italians could sure use. That has got to be a short-fused bomb.

While the news is bad all over Europe, it's not going so well for the globalists in the new year either! In light of extenuating circumstances, who could ask for anything more? The serfs are up, and the sooner they set sail from the Eurozone and its globalist control, the sooner they can have a real economy back. So, raise a cup of cheer; the New Year is here!

 

And now, for some lighthearted New Year's fun, here are my favorite Putin-Obama cartoons.

2016 Greatest Hits: Presenting The Most Popular Articles Of The Past Year

Posted: 31 Dec 2016 02:15 PM PST

One year ago, when looking at the 20 most popular stories of 2015, we admitted that it was difficult to find a coherent theme of the key events that shook the world, and which you, our readers, found most interesting and notable:

  • 2015 was year in which class warfare in the US approached unprecedented levels with antagonism between races, genders, ethnicities, ideologies, age groups and incomes all approaching peak levels, and spilling over, literally, on the street as the US public was inundated with daily reports of mass shootings, of trigger-happy policemen, of petulant students demanding conformity, of a president demanding the population hand over even more constitutional rights, of a nation torn in the most volatile presidential race yet.
  • it was a year of rising, and in many cases, brutal intraday volatility, of ever more flash crashes across virtually all asset classes, of pain for anyone who was not invested in the five largest companies, and overall a year of change and losses for those hoping the Fed would "have their back" no matter what;
  • it was a year in which the S&P declined for the first time since the financial crisis, as a result of the first Fed rate hike in a decade and concerns about the sustainability of China's numerous asset bubbles, the devaluation of the Yuan and the viability of China's numerous insolvent public and private enterprises and banks.
  • it was a year in which the geopolitical situation outside of the U.S. got decidedly worse, with the Syrian global proxy war resulting in the first instance of a NATO nation attacking and taking down a Russian fighter jet in decades, but more importantly, in a historic refugee crisis that will alter the face of Europe for years to come, as well as unleashing a wave of terrorist events which are likely just beginning, as governments across the globe seek to exploit the crisis for their own selfish reasons.
  • In summary, 2015 was a year of confused flux and of dramatic change: change which was largely amorphous and chaotic but which we said would crystallize over 2016, "in unpredictable and, sadly, violent ways."

It did indeed, because when looking back at the past year, 2016 provided much needed closure to many of the themes and narratives that emerged in 2015, and earlier, most of which played out in the political arena, where for the first time in decades the established status quo was shaken to its core when two completely unexpected events took place, first Brexit, then the election of Donald Trump, setting the stage for a dramatic revulsion from widely all accepted norms and principles.

As we had warned for years, the vast if silent majority, feeling snubbed and neglected by the political oligarchy and the world's central bankers, decided to take the power back which they did within the confines of the democratic process, sending the establishment reeling, by rejecting years of legacy narratives, first by voting to divorce the UK from Europe, and then to replace decades of a failed, and flawed, political regime in the US with something... different.

It remains to be seen if these changes will be successful and bear fruit, or if they will be a change for the worse. However, the simple reality is that people had enough and wanted change. This, in the words of the established media, was called "populism", and the transformation process which allowed it to take place was maligned under the umbrella definition of "fake news." More on that later.

It wasn't just political upheaval that marked 2016: in the financial realm, markets first were jarred, then hailed the gradual shift in legacy sentiment, as the primary driver behind the global economy morphed from one of central-bank directed monetary policy - 2016 was the year in which $14 trillion in global debt hit record negative yields when central banks seemingly went all in to inject record stimulus into the markets if not so much the economy  - to what many now expect will be a reflation, and fiscal-stimulus driven economy.

On of the biggest questions facing 2017 is whether this transition will actually take place, and how smooth such a handover will be; for now optimism and hope prevail.

2016 also demonstrated how dominant the political narrative has become when it comes to finance and capital markets. For all those lamenting that relentless coverage of politics (which sadly also includes every tweet from Donald Trump: for those who are unaware, we would like to inform you that 2017 will be the year when domestic and foreign policy takes place on Twitter) and why finance appears to have taken a secondary role, and why the political "narrative" has taken a dominant role for financial analysts, the past year showed vividly why that is the case. After all, it was a historic U-turn in conventional wisdom in the early hours of November 9, that sent the S&P soaring, and allowed the US market to close nearly 10% higher on the year from what until two month earlier was shaping up as another wash out in stocks. The reason: the narrative surrounding the Trump victory - a political event - went from cataclysmic to optimistic in the span of mere hours.

And speaking of market performance in the past year, it is delightfully ironic that despite the experts having predicted the outcomes of every key event incorrectly (who can forget the prevailing calls for doom and gloom should Brexit take place or Trump defeat Hillary), the US stock market actually closed almost exactly where consensus said one year ago it would close, or as Bloomberg notes, while they got everything else wrong, the accuracy of US equity strategists predicting the annual gain of 9.5% is unprecedented in Bloomberg data going back to 2000.

How did they get it so right? Simple: central banks openly warned that any selling following watershed political events is no longer acceptable (who can possibly forget the ECB pledging to bailout the market in case of a Brexit). Sure enough, markets took the hint, and after taking 65 days to recover all losses from the August 2015 China devaluation, it took the S&P only 5 days to recover the post-Brexit losses, it took only 16 hours to regain the sharp, limit-down drop after the Trump election, and stunningly, just 9 hours to recover the entire loss from the Italian referendum outcome which, too, was a vote against establishment politics.

The problem with this habituation that "no news can ever again be bad news" is that it is no longer clear what the market may or may not have priced in, absent hope and expectations of central bank intervention to arrest any future selling episodes; central bank intervention which in 2016 hit all time highs and numerically amounted to over $15 trillion in cumulative liquidity injections. However, with a major shift now taking place away from monetary and toward fiscal policy, the "assumption of hope" will surely be tested in 2017.

Another assumption that will be tested in the coming year is whether "China no longer matters" for US markets, something which was certainly not the case last year. Back in 2015, US futures would swoon the moment the PBOC announced even a modest drop in the Yuan. On the other hand, in 2016, US equities could care less what Beijing did, how bad NPLs among Chinese banks rose, how pervasive corporate defaults in China became, or what the future held for China, and its $35 trillion in financial assets. We have a nagging suspicion that whether or not the US manages to avoid a recession in 2017, and the business cycle is now so long in the tooth, the current expansion is will be the third longest in US history on the day of Trump's inauguration in three weeks.

However, should the most powerful trend of 2016 (and prior years) persist and it most likely will, far fewer hedge funds will be there to trade this "assumption" - 2016 was the year in which active managers saw the biggest outflows in assets under management since the financial crisis, as investors grew so disenchanted with the "2 and 20 model", they pulled their money out of the underperforming asset class and dumped it into ETFs and other, cheaper alternatives.

Still, while many themes, both in the political and financial realm, did get needed closure, dramatic changes in 2016 persisted, and which will continue to manifest themselves in dramatic, often violent and unexpected ways - from terrorism in Europe, to "populist" upheavals around the developed world, to unprecedented capital flight out of China. Perhaps these non-stop changes is the reason why 2016 was an absolute record year for Zero Hedge: not only did we have our first 100 million page view month, but just two days ago we crossed 3 billion cumulative page views since inception, just over two years after hitting our first 1 billion pageview milestone.

As always, we thank all of our readers for making this website - which has never seen one dollar of outside funding and has never spent one dollar on marketing - a small (or not so small) part of your daily routine.  Which also brings us to another amusing topic: that of fake news, and something we - and others who do not comply with the established narrative - have been accused of. While we find the narrative of fake news laughable, after all every single article in this website is backed by facts and links to outside sources, we find it a dangerous development, and very slippery slope, that the entire developed world - certainly the US with Obama's recent passage of the "Countering Disinformation And Propaganda Act" into law - is pushing for what is, when stripped of fancy jargon, is internet censorship under the guise of protecting the average person from "dangerous, fake information." 

Needless to say, Trump should overturn this blatant attack on the First Amendment, and let people decide for themselves what is and isn't fake news. If anything, it is the conventional, mainstream media, most of which is owned by a handful of corporations with extensive ties to the government, that demonstrated on numerous occasions in 2016 that it is the primary creator and distributor of "fake news."

In addition to the other themes noted above, we expect the crackdown on free speech to accelerate in the coming year, especially as the following list of Top 20 articles for 2016 reveals, many of the most popular articles in the past year were precisely those which the conventional media would not touch out of fear of repercussions, which in turn allowed the alternative media to find a key entry point, and take significant market share from the established outlets by covering topics which the public relations arm for a certain presidential campaign refused to do, in the process earnings itself the derogatory "fake news" condemnation.

We are grateful that our readers have realized it is incumbent upon them to decide what is, and isn't "fake news."

Before we get into the details of what has now become an annual tradition for the last day of the year, those who wish to jog down memory lane, can refresh our most popular articles for every year during our no longer that brief, 7-year existence, starting with 2009 and continuing with 2010, 2011, 2012, 2013, 2014 and 2015.

So without further ado, here are the articles that you, our readers, found to be the most engaging, interesting and popular based on the number of hits, during the past year.

  • In 20th place, with over 713,000 views, was a shocking development from an otherwise quiet Friday afternoon in mid-July, when the world was gripped by news of a Turkish coup attempt, the first in decades, which subsequently crumbled due to its comically underprepared nature, prompting many to speculate that the entire event had been "faked"; the outcome further cemented Erdogan's role as Turkey's undisputed, authoritarian ruler. In the months since, Turkey has emerged as a key strategic player in the Middle East, pivoting from a US/NATO sphere of influence to one dominated by Russia and Putin, a flourshing relationship which not even the recent assassination of a Russian ambassador in Ankara appears able to derail.
  • In 19the place, with 731,917 page views, was an article which demonstrated what some dubbed "Scenes From The Apocalypse", or the destructive impact of Mass Immigration On The Streets Of France. With immigration having rapidly become the one social force with greatest impact and upheaval across Europe as a result of Angela Merkel's "open door" policy, which in 2015 warmly greeted over 1 million mostly Syrian refugees in Europe, only for this "noble" act to lead to dramatic consequences, including the deadliest terrorist attacks to befall both France and Germany in the past year, we anticipate that the adverse impact of mass refugees piling into Europe will continue, and likely lead to more "surprises" in Europe's busy political calendar in 2017.
  • In 18th place, read over 760,000 times, was an article which initially brought upon us the ire of the mainstream press, yet which in retorspect proved to be completely accurate. In late October, we reported that due to gross oversampling, polls such as those by Reuters and WaPo were misleading, and that the lead suggested for Hillary Clinton, in many cases as wide as double digits, was invalid. Indeed, this was partially confirmed by ABC/Wapo who, as we noted, "Effectively Admitted To Poll Tampering As Hillary's "Lead" Shrinks To 2-Points." Just days later the entire nation discovered precisely just how much poll tampering there was when Donald Trump won the election with a landslide in the Electoral College, and all those "experts" who were relying on polls and predicted that Hillary's chances of winning the election were as high as 95%, were forced to explain how they could have gotten the outcome so very wrong.
  • In 17th place, with over 761,000 page views, was another article which while widely ignored by the mainstream media for various obvious reasons, fascinated much of America when as part of the Podesta email dump one month before the end of the presidential race, we learned how a top DOJ official Peter Kadzik Was Exposed Colluding With The Clinton Campaign. It was troubling stories like these, and not the "hacking of the elections by the Russians", that contributed to Hillary's loss, as the public was for the first time ever granted exclusive front row seats into the corruption and cronyism inherent between the government's "impartial" agencies and the political uber-class. And those, such as this website, who dared to cover these stories and as a result would never be invited to John Podesta dinners with members of the press, got branded as "fake news" for having the temerity to expose such relationships.
  • Incidentally, speaking of "fake news" and collusion between the mainstream media, the government and its various agencies, in 16 place was our article in which we quoted a Top German Journalist who Admitted that it is the Mainstream Media who is the true source of fake news, stating ont he record that "We All Lie For The CIA." While few in the mainstream dared to cover his statement, we are delighted that at least 790,000 of our readers learned the truth about how news for "popular consumption" is created. Incidentally, the "fake news" witch hunt is nothing new, and has been around for decades, even long before Operation Mockingbird first brought the world's attention to just how partial and biased the US press really is.
  • No Top 20 list of 2016 articles would be complete without a story on what was the second biggest surprise of the year, namely the Brexit vote, which while predicted by most as unlikely to happen, not only took place but was won by a substantial majority. Over 800,000 stunned raders and market participants read our report on Brexit, "It's All Over As "Leave" Wins Brexit Referendum: Markets Everywhere Are Crashing", and while Brexit indeed won, the market crash promptly turned into a surge as Brexit became a catalyst for even more central bank intervention, leading the BOE to cut rates even more and engage in even more aggressive QE. The ultimate outcome: the UK stock market closed 2016 at all time highs.
  • In 14th spot was another glimpse of the internal workings of the Clinton family courtesy of the Podesta leaks, which led to article which was barely covered by the mainstream and yet more than 853,000 readers were fascinated to read that Teneo head Doug Band Accused Chelsea Of Using Clinton Foundation Money To Pay For Her Wedding. The allegation that the Clinton foundation was abusing donor money was one of the reasons why Pay to Play became such a dominant topic in the last days of the presidential campaign, one not even the Mainstream could evade. Ultimately, the public's eagerness to see disappointment on the face of Clinton foundation donors is likely one of the reasons why Trump was the unexpected winner of the presidential election.
  • In 13th spot in an article that came out just days after Trump "shockingly" won the election, one which laid out the policy goals the president-elect, among which: "Building That Wall", End "War On Coal", Repeal Obamacare, Dismantle Dodd-Frank. Perhaps the reason why over 865,000 readers found this article interesting is that there was so little attention focused on actual policy issues during a presidential campaign that was marked more by mudslinging than any actual constructive discussions between the two candidates. While some have likened Trump's policies to those envisions by Ronald Reagan, others remain skeptical. For now, the market has given the proposed Trump policies the benefit of the doubt, although that may soon change if some or all of this proposal fail to get the required congressional backing, or if Trump himself backs away from his promises.
  • In 12th spot is a post describing an amusing interlude which followed Trump's presidential victory, namely when the "Greens" Jill Stein sought a recount in several key battleground states in hopes of swinging the election for Hillary. She failed, when not only did the votes not change, and in some cases actually swung in Trump's favor, but in other cities, such as Detroit evidence emerged that vote tampering had actually happened to assist Clinton's campaign as some Republicans had alleged. That however did not matter, as Stein had already collected millions from naive democrats, something we described in "The Mysterious Case Of Jill Stein's Surging Recount Costs" and which was read by over 865,000 readers. Since much of the raised cash remains unspent, one wonders just how much money in Stein's bank account is there courtesy of those gullible enough to believe that the Green Party candidate could on her

The World in 2017 Top 10 countdown

Posted: 31 Dec 2016 12:00 PM PST

What will be the top ten stand out moments of 2017? Our countdown of the upcoming year's major stories. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and...

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

Dr Paul Craig Roberts: WHAT IS OBAMA REGIME UP TO ?

Posted: 31 Dec 2016 10:00 AM PST

 Dr Paul Craig Roberts: After latest batch of sanctions and expelling Russian diplomats from US , What are Obama and CIA up to ? Are they preparing some kind of military incident with Russia in order to box in Donald Trump or ...? The Financial Armageddon Economic Collapse Blog...

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

Nigel Farage New Years Message at end of 2016

Posted: 31 Dec 2016 09:00 AM PST

(31ST DEC 2016) Happy New Year to all UKIP and Nigel Farage fans from RobinHoodUKIP The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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

Peter Boehringer: Germany's gold reserves in U.S. were only paper claims

Posted: 31 Dec 2016 07:38 AM PST

That explains why the Bundesbank and New York Fed could never produce proof of the gold's existence.

* * *

By Peter Boehringer, Founder
German Precious Metals Society
http://www.gold-action.de/
Saturday, December 31, 2016

As it often has done before, Germany's Bundesbank has released news at Christmastime to avoid critical examination and discussion, this time news about its repatriation of the nation's gold reserves.

The repatriated tonnage volume reported -- "approximately 200 tonnes," bringing the total of gold repatriated to approximately 1,580 tonnes or 47 percent of Germany's gold reserves -- is OK, not spectacular. And this month there was far more important news about Germany's gold, though it was overlooked.

The important news came December 21 from the major German news agency, DPA-AFX, and most likely was written by the Bundesbank itself for DPA-AFX. The news agency published a German-language news brief that was uncritically republished by most German newspapers and magazines without anyone recognizing its political, economic, and historical sensitivity.

... Dispatch continues below ...



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The news item said: "... in den 1950er und 1960er Jahren wuchs der deutsche Goldschatz rasant. Denn. ... Bundesrepublik [hatte] dank des Exports viele Dollar, die bei der US-Zentralbank gegen Goldforderungen eingetauscht werden konnten."

In English: "Germany's gold hoard grew rapidly in the 1950s and 1960s. Thanks to its export surplus, the Federal Republic amassed many dollars that could be exchanged at the U.S. central bank against gold claims."

The news brief's term was "gold claims" -- not "physical gold bars," which both the Bundesbank and the U.S. Federal Reserve contend have constituted the German gold reserves held in the United States.

We have the official text from DPA-AFX from December 21 containing the cited sentence, which was published without change by at least 20 major news organizations by the next day. As an example, here's the item in the German news magazine Der Spiegel:

http://www.spiegel.de/wirtschaft/soziales/bundesbank-sammelt-goldbarren-...

We as yet have no proof that Bundesbank itself wrote this sentence. (DPA-AFX would have that proof.) But it would be unusual if a mere apprentice at the news service had fabricated the term.

So it is reasonable if we now consider nearly official what gold "conspiracy theorists" have been assuming for decades. That is, the German gold reserves supposedly stored abroad and especially at the Federal Reserve Bank of New York most likely never existed in physical form since the 1960s. Rather the German gold supposedly stored abroad most likely has been only a matter of accounting book entries.

Of course the Bundesbank is unlikely to admit this. Otherwise its tale of its melting gold bars stored untouched at the New York Fed for more than 50 years would have been in vain.

For years now the German Precious Metal's Society's "Repatriate our Gold" campaign has demanded to see the original German gold bars in the New York, London, and Paris vaults where they supposedly were stored. But neither the Bundesbank nor the New York Fed have ever provided any evidence -- photos, complete bar numbers, videos of the bar melting, etc.

All we ever received were foggy statements with incomplete bar numbers, worthless bar lists, and incomplete "internal audit" reports.

But if Germany's gold bars stored abroad were actually only paper gold claims and book entries, everything that has happened would make perfect sense.

Only now, after years of public pressure, some of the gold seems to be becoming physical in the course of its transmission over the Atlantic Ocean.

Only now does the Federal Reserve seem to "wire" the gold to Europe, where the Bundesbank can buy new gold bars.

Now the Fed and Bundesbank can avoid forever having to display 120,000 bars of German gold from the 1950s and 1960s, most of which likely never existed.

Thank you, DPA-AFX, and thank you, Bundesbank, for some truth after all this time. Thank you for this overdue admission of the Bretton Woods "gold book entry" world of the 1960s.

Thank you for a peek into the obscure world behind the curtains and vaults of central banking, back in the 1960s as well as today.

Unfortunately, the misleading news about our gold continues in Germany.

While Bundesbank director Carl-Ludwig Thiele announced December 24 that the Bundesbank has "repatriated" another 200 tonnes of gold from New York and Paris --

http://www.reuters.com/article/germany-bundesbank-gold-idUSL5N1EI4IY

-- details will come only in January, and we still lack transparency in the Bundesbank's own vault in Frankfurt. Here too we have never received a full bar number list -- an "inventory number" list, which we have, is worthless -- have never seen photos or video of the approximately 125,000 bars that supposedly are in Frankfurt now, have never seen a signature by an external auditor who has performed a physical audit on site in the Frankfurt vault.

Our conclusion: Our Repatriate our Gold campaign is satisfied with some material progress both on the physical and information front. Here at the end of 2016, Germany now has about 47 percent (1,580 tonnes) of its gold in Frankfurt.

But we remain unsatisfied with the evidence given by the Bundesbank to support its claim that "all bars are in Frankfurt physically and ownership is exclusive -- that is, no multiple owners of individual bars, no fractional gold banking."

And the DPA-AFX news item indicating that the German gold held at the New York Fed was just paper gold, just book entries, prompts us again to urge the Bundesbank to repatriate not just half our gold, the Bundesbank's official objective since 2013, but all of it.

A golden currency reserve has to be on a country's own soil without counterparty risk, especially when our new currency, the euro, is being rescued every day with billions in guarantees and illegal bond purchases by the European Central Bank and seems to be approaching the natural end of its unnatural existence as a supranational currency.

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

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

India discounts widen, China premiums narrow on sluggish demand

Posted: 31 Dec 2016 06:55 AM PST

By Rajendra Jadhav and Apeksha Nair
Reuters
Friday, December 30, 2016

Gold discounts in India widened this week as a rebound in global prices prompted buyers to postpone purchases amid a severe cash crunch, while demand across Asia remained subdued.

Spot gold rose to its highest in over two weeks on Friday on a weaker dollar and was set to end 2016 more than 9 percent higher, marking its first annual gain in four years. For the week, gold is up about 2.5 percent and is poised to register its best weekly gain since early June.

In India the world's No.2 consumer of the metal, dealers were offering a discount of up to $4 an ounce this week over official domestic prices that include a 10 percent import tax.

They offered discounts of up to $2 last week.

"Demand is still weak. Rural consumers don't have enough cash in hand to make big purchases like gold," said Daman Prakash Rathod, a director at MNC Bullion, a wholesaler in Chennai.

Two-thirds of gold demand comes from rural areas where jewellery is a traditional store of wealth. ...

... For the remainder of the report:

http://www.reuters.com/article/asia-gold-demand-idUSL4N1EP2IZ



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Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow

Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:

http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356

Taylor cited the company's announcement here:

http://www.k92mining.com/2016/11/6114/



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:

http://www.gata.org

To contribute to GATA, please visit:

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

U.S. dollar's share of global currency reserves slips in third quarter

Posted: 31 Dec 2016 05:56 AM PST

By Jason Lange
Reuters
Friday, December 30, 2016

The U.S. dollar's share of currency reserves reported to the International Monetary Fund slipped in the third quarter of 2016 to its lowest level in two years, data from the IMF showed today.

The July-September period was the third consecutive decline in the dollar's share of allocated currency reserves, or those reported to the IMF. The decline could reflect increased optimism about the global economy, with the European economy seen on improved footing.

In the third quarter the dollar comprised 63.3 percent of allocated reserves, the smallest share since the third quarter of 2014. The dollar made up 63.8 percent of allocated reserves in the second quarter.

The euro's share rose to 20.3 percent in the same period from 20.0 percent the quarter before, while the yen's share increases to 4.5 percent from 4.4 percent. ...

... For the remainder of the report:

http://www.reuters.com/article/us-forex-reserves-idUSKBN14J1BV?il=0



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Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...



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:

http://www.gata.org

To contribute to GATA, please visit:

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

Gold and the SPX Stocks Bull Market

Posted: 31 Dec 2016 04:46 AM PST

The market started the week at SPX 2264. On Tuesday the market rallied to SPX 2274 in the opening minutes and then started to pullback. The pullback lasted all week, with one 9 point rally along the way, and hit SPX 2234 on Friday before bouncing to end the week at 2239. For the week the SPX/DOW lost 1.0%, and the NDX/NAZ lost 1.5%. Economic reports for the week were slightly positive. On the downtick: pending home sales, the Chicago PMI, plus the trade deficit increased. On the uptick: Case-Shiller, consumer confidence, the WLEI, plus weekly jobless claims decreased. Next week economic highlights: monthly payrolls, FOMC minutes and the ISMs. Happy New Year!

Ready for New Year 2017 Massive Rally in Gold and SIlve rand Junior Miners

Posted: 31 Dec 2016 04:14 AM PST

The Trump presidential election win has pushed capital into a major risk on rally, benefiting stocks, energy and the US dollar. Interest rates are soaring in line with the Dow breaking 20k indicating major inflationary pressures. Commodities such as industrial metals, copper and oil are rallying.

Breaking News And Best Of The Web

Posted: 31 Dec 2016 01:37 AM PST

Stocks, gold, dollar fall in last trading day of 2016. US home sales decline, London real estate boom fading. Italian bank bail-out not going well. China money markets in turmoil. US retaliates against alleged Russian hacking.   Best Of The Web Drifting into fascism – GoldMoney Inequality and skin in the game – Medium.com The […]

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

Stock Market Dow Closes 2016 Up 13.4% Confounding Perma Bear Doom Merchants For 8th Year!

Posted: 31 Dec 2016 12:35 AM PST

The Dow Jones stock market index closed 2016 up 2338 points at 19,763, up 13.4% for year confounding the doom merchants who saw every surprise event of 2016 from Januarys oil price collapse to Britain's Brexit EU Referendum vote to America's very own self professed Mr BrExit, Donald Trump shocking the American establishment elite by winning the US Presidential election, all and more were apparently definite harbingers for a stock market apocalypse, reaching their most vocal just as the stocks bottomed and surged higher.

Top Ten Videos — December 31

Posted: 30 Dec 2016 04:01 PM PST

Predictions for the year ahead (spoiler alert: it’s going to be ugly). Inflation up, gold up, stocks down, politics unsettled                     

The post Top Ten Videos — December 31 appeared first on DollarCollapse.com.

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