Gold World News Flash |
- Peter Schiff: Bear Market has Begun
- Trump, The Deep State, & World Events - David Icke On Mainstream Danish Radio
- Huge Crack Opens Up In Argentina, Threatening to Swallow Entire Town
- Trump on 'unbelievable destruction' wrought by Hurricane Michael
- 4 Pillars of Debt in Danger of Collapse
- Did Soros Hijack The ACLU?
- Learn How to Earn… and Actually Keep Your Earnings
- Alasdair Macleod: The credit cycle is on the turn
- Gold GDX Is Being Torn Apart
- Forget What Phony Government Statistics Say – the "Strong Dollar" Buys Less
- Signs suggest China may tolerate yuan's weakening past 7 per dollar
| Peter Schiff: Bear Market has Begun Posted: 11 Oct 2018 10:00 PM PDT Anya Parampil reports on the US stock market downturn which began on Wednesday, finding that the mini-crash has rippled throughout international markets. Anya talks to Peter Schiff, CEO of Euro Pacific Capital, and Bart Chilton, Host of RT's Boom Bust, to discuss what's behind the meltdown and... [[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://lindseywilliams101.blogspot.com http://www.figanews.com for full links, other content, and more! ]]  |
| Trump, The Deep State, & World Events - David Icke On Mainstream Danish Radio Posted: 11 Oct 2018 09:00 PM PDT THE lesser of two evils needs trump to start space economy and expose secret space program...levitation antigravity craft and alien contact. EVEN though deep state...i still think there are two factions /sides of deep state that wants space economy The Financial Armageddon Economic Collapse... [[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://lindseywilliams101.blogspot.com http://www.figanews.com for full links, other content, and more! ]]  |
| Huge Crack Opens Up In Argentina, Threatening to Swallow Entire Town Posted: 11 Oct 2018 07:00 PM PDT There is a giant crack growing in Diamante in Entre Ríos, Argentina, which may finally swallow the entire town. Many have already evacuated their homes fearing a total collapse. Here some pretty impressive images of the dramatic situation experienced by the inhabitants of this small town. Have... [[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://lindseywilliams101.blogspot.com http://www.figanews.com for full links, other content, and more! ]]  |
| Trump on 'unbelievable destruction' wrought by Hurricane Michael Posted: 11 Oct 2018 04:07 PM PDT President Donald Trump commented on the "unbelievable" trail of destruction left by Hurricane Michael at meeting from the White House, Washington D.C. on Thursday. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free... [[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://lindseywilliams101.blogspot.com http://www.figanews.com for full links, other content, and more! ]]  |
| 4 Pillars of Debt in Danger of Collapse Posted: 11 Oct 2018 01:46 PM PDT This post 4 Pillars of Debt in Danger of Collapse appeared first on Daily Reckoning. Last month I was in a series of high-level meetings with members of Congress and the Senate in Washington. While there's been major news about the Supreme Court, my discussions were on something that both sides of the aisle are coming to consensus over. You see, issues that impact your own bottom line are way more about economics than they are about politics. On Capitol Hill, leaders know that. They also know that voters react to what impacts their money. That's why, behind the scenes, I've been discussing issues focused on protecting the economy. Behind closed doors, we've been working on how to shield the economy from Too Big to Fail banks and how the U.S. can better fund infrastructure projects. These are initiatives that all politicians should care about. Underneath the surface of the economy is a financial system that is heavily influenced by the Federal Reserve. That's why political figures and the media alike have all tried to understand what direction the system is headed. Also last week I joined Fox Business at their headquarters to discuss the economy, the Fed and what they all mean for the markets. On camera, we discussed this week's Federal Reserve meeting and the likely outcomes. Off camera, we jumped into a similar discussion that those in DC have pressed me on. Charles Payne, the Fox host, asked me what I thought of new Fed chairman, Jerome Powell, in general. Payne knew that I view the entire central bank system as a massive artificial bank and market stimulant. What I told him is that Powell actually has a good sense of balance in terms of what he does with rates, and the size of the Fed's book. He understands the repercussion that moving rates too much, too quickly, or selling off the assets, could have on the global economy and the markets. Savvy investors know that if the U.S. economy falters, because everything is connected, it could reverberate on the world. That's why I could forecast that the Fed would raise rates by 25 basis points last week ahead of time. And they did. However, there's now even less reason to believe the Fed will raise rates at the next meeting in December. Why is that? First, Powell has made clear that he doesn't see inflation heating up as a threat. Second, even though last quarter's GDP growth figures were relatively high, the reality is that much of that growth came from trade war spending and preparation. Another big chunk of the GDP growth the U.S. has experienced is based on debt. When considering the real problem of debt, the record consumer debt numbers in the U.S. paints a picture so that you can see how and why the Fed will likely have to reverse course. At a time when we find ourselves "celebrating" the 10-year anniversary of the collapse of my old firm, Lehman Brothers, and the government bailout of banks, the structure of big banks has really not changed. They remain Too Big to Fail. The big banks got subsidies and were propped up by quantitative easing (QE) to resurrect themselves into appearing financially healthy. The same cannot be said of all consumers in the country. It's consumers that have now piled on debt — and at much higher interest rates than the banks and large corporations have been given. Indeed, to make ends meet, there have been four main pillars of consumer debt that have hit new records. According to a recent New York Federal Reserve Bank report, total consumer debt is at higher levels now than going into the financial crisis. By breaking down what that debt is, you can best understand how to navigate the world of finance, understand your own portfolio better and make more sound investments. Here they are: Overall Household Debt.The state of household debt, which literally takes into account the combined debt within a given household, continues to flash red. According to a 2017 household financial survey by the Fed, "About one-quarter of U.S. adults have no retirement savings. And 41% say they would not have enough savings to cover a $400 emergency expense." The overall level of consumer debt has hit a new record. It's now $618 billion higher than it was at its prior peak at $12.68 trillion during the third quarter of 2008 – right before the onset of the financial crisis. The total borrowing of Americans hit $13.29 during the second quarter of this year. That's up $454 billion from a year earlier. The fact is that borrowing has risen for 16 consecutive quarters. Credit Card Debt.The total of U.S. credit card loans has increased by $45 billion this year to a massive $829 billion total. Despite cheap rates for banks, the average credit card interest payment rate is 15.5%. It was at 12.5% only five years ago. And, yet people keep borrowing. The total revolving credit card debt now stands at a record of $1.04 trillion, higher than its last 2008 peak. Borrowers have paid a painful $104 billion in credit card interest and fees in just the last year. That figure is up 11% from the prior year, and up 35% over the past five years. What you should know if you have a credit card is that if the Fed continues to raise rates, that any associated debt will become even more expensive. Student Loan Debt. During my meetings in Washington and with even media figures, student debt continues to be a central topic of concern. The fact is, student loans cannot be given bankruptcy status and therefore are much more complex when evaluating the U.S. economy. Currently, the amount of student loans grew to $1.41 trillion in the second quarter of 2018. That figure has nearly tripled since the beginning of the financial crisis. Student loan debt is now the second highest consumer debt held. That crippling amount of debt makes it harder for graduates to find jobs that will help them alleviate the costs of their education. It also means that those with student loans will have less money to deploy into the economy — which will impact economic growth overall. Auto Debt.While the rising cost of manufacturing autos has impacted the automotive sector, it has not deterred consumers from borrowing money. Total auto debt in the U.S. has shot up to $1.24 trillion. That figure is up $48 billion from just a year ago. The reason this sector is so important now is that a lot of loans being given are of the subprime variety. Subprime loans were the exact kind of high rate loans that caused the last financial crisis — only last time they were given to mortgage borrowers. Auto loan delinquency rates are already higher now than they were during the financial crisis. The auto loan sector will continue to be one to watch for signs of financial faltering. As we head into the holiday season, these four debt triggers matter even more. Companies that consumers buy products from, especially bulky items, could see a very tepid holiday season in terms of sales. Any business that faces additional costs will likely pass that on to the consumer. That could come in the form of transportation expenses (shipping) required to get products to your door. Companies that work on that business model could struggle. The additional costs and the implied logistics demand that the bigger the item, the higher the cost — which all adds onto the debt. The expectation is that consumers will be more selective in their year-end purchases, both because of their debt and the need to economize their own personal finances. That's why shares in retailers like L Brands, Floor & Decor Holdings and Michaels Companies have each declined more than 30% year to date. Our economy rests upon four crumbling pillars of debt. If one of these collapses, the entire superstructure may not be far behind. Regards, Nomi Prins for The Daily Reckoning The post 4 Pillars of Debt in Danger of Collapse appeared first on Daily Reckoning. |
| Posted: 11 Oct 2018 01:30 PM PDT We need to expose this more how a Nazi collaborator is running the world in chaos. Then he buys things up Pennies on the dollar. His own country doesn't want Georgie back The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free... [[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://lindseywilliams101.blogspot.com http://www.figanews.com for full links, other content, and more! ]]  |
| Learn How to Earn… and Actually Keep Your Earnings Posted: 11 Oct 2018 12:12 PM PDT This post Learn How to Earn… and Actually Keep Your Earnings appeared first on Daily Reckoning. In the U.S. we are obsessed with football—the American kind. Every year, each of the 32 professional teams perform a draft where they pick the best player from college teams across the country and pay them extraordinary amounts of money. The National Football League Commissioner stands at the podium in front of a live and nationally televised audience and announces their name along with the team they will call home. For some, this is the culmination of a life-long dream. For these young men in their 20's, getting signed to a multimillion-dollar contract is also a part of that dream. For most, they will receive more money over the next four or five years than they could ever imagine. Families and friends, and shady advisors, have been waiting for this payday since the moment they started playing the game. The worst part of this fairytale is that 78 percent of NFL players will go bankrupt within two years of retirement according to Sports Illustrated. Whether it's football, the lottery, an inheritance—when people suddenly come into money, more often than not, they are unprepared for how to deal with the windfall. NFL cornerback Richard Sherman credits Rich Dad Poor Dad for his success with money after receiving a $57.4 million-dollar contract. “None of us really grew up with… financial literacy,” Sherman told CNBC Make It. Sherman says he sees players taking more control of their financial future: “People in my sport, in my field, are definitely becoming more educated and trying to be more intelligent with how they play for the money and understanding where their money is going.” Two Mindsets About Work My poor dad said, "Job security is the most important thing." My rich dad said, "Learning is the most important thing." These two statements represent two fundamentally different mindsets about work. When you look at work as simply a way to make money, so you can then do other things, it is impossible to think of it as a means to any other end. But there are also those who will have a light turn on, realizing that work can be a path to something greater, even if you aren't paid or are paid very little. In order to be successful, you have to work to learn, not to earn. It's all about what your goals actually are, as you put work into something… In fact, mindset most often is the dividing line between those who are successful in life and those who are not. In the NFL there are many players who do not have the natural skills and talents, but they thrive. They show up, put in the work, and continually learn and grow. They listen to their coaches. They surround themselves with smart people who lift them up instead of pulling them down. They have a mindset of success—the mindset of a pro. If only players put in as much work to learn about money as they do on the field, more players would be prepared to handle their new-found fame and fortune. The Learning Mindset In the movie Jerry Maguire, there are many great one-liners. But there is one that I found particularly truthful. Tom Cruise's character is leaving his high-paying job to start his own agency after being fired, and he says, "Who wants to come with me?" The whole place is frozen and silent, looking down at him. Finally, one woman pipes up and says, "I'd like to, but I'm due for a promotion in three months." Sadly, as mentioned above, this is the mindset of most people when it comes to work. Rather than look at work as an opportunity to grow and learn, they look at work as a necessary evil and try to get as much money from their job as possible. As a young man, I faced the same decision as the woman in Jerry Maguire. After graduation from the Merchant Marine Academy, I had a good career ahead of me. My first job was on a Standard Oil of California oil-tanker fleet as third-mate. I made a lot of money for the time, $42,000 a year, including overtime, and only had to work seven months of the year. My poor dad was very happy. After six months, however, I resigned my position with Standard Oil and joined the Marine Corps. My poor dad was devastated, but my rich dad congratulated me. The reason I joined the Marine Corps was to learn new skills. I wanted to learn how to be a pilot and to learn how to lead others into difficult situations. I knew that the leadership skills I learned in the Corps would benefit me greatly in life and business. After my tour of duty, I had the opportunity to get a steady paying job as a commercial airline pilot. Instead, however, I took a job with Xerox as a salesman. Again, my poor dad was devastated, and my rich dad was happy. Though I could have had a comfortable life as a pilot, I wanted to learn the skill of sales. I knew that skill, coupled with the leadership skills I learned in the Marine Corps, would make me rich. Work to Learn Not to Earn The NFL has a dark and clever nickname: "Not for Long." Careers are short-lived. They never know when they'll get cut or get injured. They can do nothing but hope for a long career. Luckily the NFL is working hard to educate these young players and prepare them for life after football. They learn about finances, insurance, and how to handle their new lifestyle. Some take it more seriously than others. Will you work to earn, holding onto security over opportunity? Or, will you work to learn (and get a financial education), giving up some security to embrace greater opportunity? Most people will follow the conventional wisdom and choose to work to earn. But if you want to be rich, I recommend that you work for what you want to learn rather than what you want to earn. Figure out what skills you want to acquire before choosing a specific profession and before getting trapped in the rat race. Regards,
Robert Kiyosaki The post Learn How to Earn… and Actually Keep Your Earnings appeared first on Daily Reckoning. |
| Alasdair Macleod: The credit cycle is on the turn Posted: 11 Oct 2018 09:30 AM PDT 12:30p ET Thursday, October 11, 2018 Dear Friend of GATA and Gold: GoldMoney research director Alasdair Macleod today reports that the world credit cycle is turning emphatically toward higher interest rates, increasing the likelihood of a credit crisis and revealing gold as the superior form of money. Macleod's analysis is headlined "The Credit Cycle Is on the Turn" and it's posted at GoldMoney here; https://www.goldmoney.com/research/goldmoney-insights/the-credit-cycle-i... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT USAGold: Coins and bullion since 1973 USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business. Please call 1-800-869-5115x100 and ask for the trading desk, or visit: USAGold: Great prices, quick delivery -- all the time. Join GATA here: New Orleans Investment Conference * * * 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: |
| Posted: 11 Oct 2018 08:50 AM PDT Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63324.html |
| Forget What Phony Government Statistics Say – the "Strong Dollar" Buys Less Posted: 11 Oct 2018 06:34 AM PDT Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63322.html |
| Signs suggest China may tolerate yuan's weakening past 7 per dollar Posted: 11 Oct 2018 06:04 AM PDT By Emma Dai and Tian Chen There are growing signs China's yuan may weaken past 7 per dollar, a key psychological level it hasn't breached in a decade. The latest came in a China Securities Journal commentary Wednesday, where former central bank adviser Yu Yongding said authorities should refrain from market intervention and that tolerance of yuan weakness is needed for exchange-rate reform. The currency has already crossed the long-defended level of 6.9 against the dollar and is near its lowest since 2008. "Yu's commentary is likely part of China's efforts to shape expectation and prepare for the yuan to breach 7 per dollar, so that the market wouldn't panic when it happens," said Xia Le, Hong Kong-based chief Asia economist at Banco Bilbao Vizcaya Argentaria SA. ... ... For the remainder of the report: https://www.bloomberg.com/news/articles/2018-10-10/signs-suggest-china-m... ADVERTISEMENT Buy, Sell, or Store Precious Metals with Money Metals Money Metals Exchange, a national bullion dealer recently voted "Best in the USA" by a worldwide ratings group -- https://www.moneymetals.com/news/2015/02/03/worldwide-ratings-organizati... -- is a great low-cost source for precious metals coins, rounds, and bars. Money Metals also pays handsomely when you wish to sell your precious metals. Shop online with Money Metals Exchange here -- https://www.moneymetals.com/buy -- or by calling 1-800-800-1865. Meanwhile, the Money Metals Depository -- https://www.moneymetals.com/depository Join GATA here: New Orleans Investment Conference * * * 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: |
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