Gold World News Flash |
- Gold Price Rose $19.20 this Week Ending at $1,116.40
- Weapons of Mass Financial Destruction!
- Ron Paul: Hillary Clinton deserves to be indicted
- The Curious Case of Copper...
- Former Citi Trader Exposes How Wall Street Came To Own The Clintons
- "The Banksters" Bank Gangsters are at it again - Go For GOLD
- Next Collapse a Chance to Break Free of Debt Slavery -- Mike Rivero
- Gold Daily and Silver Weekly Charts - BoJ Shocks, Silver Inventory Drops
- Death Throes Of The Bull
- No Change in Outlook for Gold and Silver 2016
- US Mint Gold Bullion Coin Sales
- The Fed’s Normalization and Gold
- A Brief Tour of America’s Military Misadventures
- And Now For a Hard Drop In Comex Deliverable Silver
- Japan goes Negative Interest Rate - Will US and Canada Follow
- Psychology of Survival: Pleasure and Pain
- Dr. Richard Alan Miller - Planet 9 & Geopolitical Physics
- Red Alert -- China Buys All the Gold Produced in 2015 (and more)
- Japan Implements Negative Rates
- IT BEGINS… Primary Silver Mining Company To Cut Production 25% In 2016
- Yen slides after Bank of Japan stuns markets with negative rates
- Steve Forbes Speaks Out on the Presidential Race, Fed Recklessness, and Gold
- US Stock Market & the Gold Sector Analysis
- Gold and Silver Price Manipulation: Can It Be Empirically Verified?
- Anonymous 2016 WARNING ⚠ Message to Turkey!!
- Gold Daily and Silver Weekly Charts - Pullback - Mostly Mozart - Terrible Vision
| Gold Price Rose $19.20 this Week Ending at $1,116.40 Posted: 29 Jan 2016 11:39 PM PST
Aurum et argentum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2016, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose.  | ||||||||||||||||||||||||||||
| Weapons of Mass Financial Destruction! Posted: 29 Jan 2016 10:00 PM PST by Bill Holter, JS Mineset, SGT Report.com:
First, derivatives are generally a zero sum game contract between two parties “betting” on something. They can be looked at as a speculation, a hedge, or even “insurance”. For this missive, let’s look at the “insurance aspect” of derivatives as literally $10’s of trillions in gains and losses have occurred just this month alone worldwide. For example and as you know, the price of oil has collapsed. Ignoring the gains and losses directly on oil, let’s look at companies who’s business is oil. Whether it be production, exploration, transport or even “trading”, huge sums of money have been gained or lost depending on which way your bet was. Many oil related companies have CDS (credit default swaps) written against their debt. These contracts have been rising and rising in value as oil has dropped and the possibility of bankruptcies have risen. Huge gains by owners and losses by the “writers” of CDS have accrued. This is just ONE AREA as derivatives are everywhere and written just as bookies would regarding almost anything. In fact, CDS is even written on the debt of sovereign governments …including the U.S. Treasury. Please think this through for a moment, who, or what “company” could possibly perform and payout the “insurance” to someone who bet (and won) the U.S. Treasury would default? Would anything even be open? If the U.S. Treasury defaulted, would stock or bond markets be open? How about your bank? How about ANYTHING (including your local Walmart)! Do you see where we are going here? Now lets talk for a moment about “collateral” as presumably this is what needs to be used or “put up” by the issuers of CDS if their exposure begins to broaden if the contract goes against them. I have spoken many times in the last few years about collateral and specifically the LACK of collateral. Whether it be QE in the U.S. or Europe soaking up too many sovereign bonds or systemically nothing left to borrow against, the lack of collateral is a direct problem for derivatives. You see, as a contract moves one way or the other, theoretically the party who is losing needs to post more collateral. It was this inability to post collateral in 2008 by Lehman Bros. that kicked off the problem. From a broad perspective, everyone is running down the street naked while assuring everyone else they are “insured”. Greece was even aided into the ECU because they claimed their derivative positions “erased” much of their debt, fat chance! In the end, “losers” must pay winners. If losers lose so big as to bankrupt them, the winners will not get paid. Both sides are losers. When this happens on a grand scale, it will be the entire financial system and thus “us” who are the ultimate loser. I have a topic to finish with but want to make a statement, then ask a couple of questions first. Someone recently said to me regarding the trek from 2008 to present, “the only thing that has changed since 2008 is that nothing has changed”. I would pretty much agree with this, the policies in place that put us on our knees are still in place, only being implemented with more force. I would also say the biggest change is we now have more debt, more derivatives and much more money supply. Please remember, the Fed took all sorts of substandard paper (mortgage backed securities) on to their balance sheet. What has happened to all of this paper? Much of it is non performing but sitting in a dark corner and being ignored …because it HAS TO BE! What would happen if the Fed ever sold any of this paper for a true market value? Banks would have to mark their portfolios down, that’s what! One last question, if this “bad paper” amounts to more than $100 billion in losses (it does, probably by many multiples), what would it mean if the loss was greater than the Fed’s “equity” reportedly now less than $50 billion? Just because the Fed does not ‘fess up to the losses on their books …does not mean the losses do not exist. Going one step further in this thought process, if the Fed admitted to these losses, they would be admitting to a negative net worth! Would you accept an IOU from someone you knew for fact had a negative net worth? I hate to state the obvious but, you do this every single day when you accept dollars for payment! One last topic and I’m not 100% positive what it means. Silver flash crashed last night and the morning fix came in .84 cents below where spot was quietly trading on the LBMA ! My initial reaction was someone needed to “settle” a trade and the price had to be below $14 in order to not trigger something. In fact, it is being said that this anomalous “fix” will not be reversed but will instead stand. Why would this be? Why, if it was a “mistake” would it not be fixed? After a five mile afternoon ride to ponder this, I can only come up with two viable scenarios. Scenario A. as I just mentioned above, it is possible some bank, broker or other entity needed to “settle” some sort of contract UNDER $14. It is possible this fishy fix enabled someone to close a short without any pain. It may have been an “accommodative” trade so to speak. Scenario B. this may have been “margin liquidation” meaning someone was long silver but received a margin call from another market that needed to be met and very sloppily liquidated all at once. This is not normally how trades are done but if it was a forced sale, the action is possible. We have had huge volatility in so many other markets, it is certainly possible this was a forced sale. The one thing I am quite sure of since backwardation now rules the day in London, this was not a “cash” fix. I am quite sure it was a paper contract “fix”. Why else is China so hell bent on creating a “cash only” exchange? Because China knows! It is important to understand we will see things going forward we never expected or ever dreamed of. What started to happen in 2008 where counterparties lost trust in each other is exactly where we are headed again. Central banks stepped in to restore trust, I am not so sure they have enough credibility or goodwill left to turn a far larger credit tsunami than 2008. The credit bubble is again unwinding like 2008 with no White Knights large enough or credible enough to restore confidence once broken. All I can say is “gee, what rocket scientist could have figured out the greatest credit boom in the history of history would begin to unwind after an interest rate increase”? Standing watch, Bill Holter | ||||||||||||||||||||||||||||
| Ron Paul: Hillary Clinton deserves to be indicted Posted: 29 Jan 2016 08:30 PM PST Three-time presidential candidate Ron Paul on the Hillary Clinton email investigation and the GOP debate. 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://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||
| Posted: 29 Jan 2016 07:33 PM PST I recently watched a movie called The Curious Case of Benjamin Button which some of you may have seen. In this film the lead role, played by Brad Pitt, is born as a decrepit old man and gets steadily younger until he eventually died of old age as a baby. To say that it's ridiculous is the understatement of the millennium. Yet many people come away from watching this film thinking "How wonderful, if we all kept getting younger!" As a contrarian I instead found myself wondering about the catastrophic effect on the cosmetics industry, as the market for anti-aging creams would collapse. | ||||||||||||||||||||||||||||
| Former Citi Trader Exposes How Wall Street Came To Own The Clintons Posted: 29 Jan 2016 04:15 PM PST Submitted by Mike Krieger via Liberty Blitzkrieg blog, Former FX trader at Citigroup, Chris Arnade, just penned a poignant and entertaining Op-ed at The Guardian detailing how Wall Street came to own the Democratic Party via the Clintons over the course of his career. While anyone reading this already knows how completely bought and paid for the Clintons are by the big financial interests, the article provides some interesting anecdotes as well as a classic quote about a young Larry Summers. Here are some choice excerpts from the piece:
But hey… For related articles on Hillary’s long standing Wall Street love affair, see: A New Low – Hillary Clinton Claims 9/11 is the Reason She’s Owned by Wall Street COMPROMISED – How Two of Hillary Clinton’s Top Aides Received Golden Parachutes from Wall Street | ||||||||||||||||||||||||||||
| "The Banksters" Bank Gangsters are at it again - Go For GOLD Posted: 29 Jan 2016 03:15 PM PST GOLD, shinny precious GOLD...Gold is a chemical element with symbol Au and atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group 11 element.Today, a $100 note buys less than a... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||
| Next Collapse a Chance to Break Free of Debt Slavery -- Mike Rivero Posted: 29 Jan 2016 02:45 PM PST Michael Rivero is the webmaster of http://whatreallyhappened.com/ and host of the What Really Happened radio shows on the Genesis Communications Network. Formerly with NASA, Michael transitioned his image processing skills (along with a brief stint as an actor) into the then-new motion picture... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||
| Gold Daily and Silver Weekly Charts - BoJ Shocks, Silver Inventory Drops Posted: 29 Jan 2016 01:57 PM PST  | ||||||||||||||||||||||||||||
| Posted: 29 Jan 2016 01:55 PM PST This post Death Throes Of The Bull appeared first on Daily Reckoning. The fast money and robo-machines keep trying to ignite stock rallies, but they all fizzle because bad karma is beginning to infect the casino. That is, apprehension is growing among whatever adults are left on Wall Street that 84 months of ZIRP and $3.5 trillion of Fed balance sheet expansion, aka money printing, didn't do the trick. Not only is the specter of recession growing more visible, but it is also attached to a truth that cannot be gainsaid. Namely, having stranded itself at the zero bound for an entire business cycle, the Fed is bereft of dry powder. Its only available tools are a massive new round of QE and negative interest rates. But these are absolutely non-starters. The former would provoke riots in the financial markets because it would be an admission of total failure; and the latter would provoke a riot in the American body politic because the Fed's seven year war on savers and retirees has already generated electoral revulsion. Bernie and The Donald are not expressions of public confidence in the economic status quo. So the dip buying brigades have been reduced to reading the tea leaves for signs that the Fed's four in store for 2016 are no more. Yet even if the prospect of delayed rate hikes is good for a 50-handle face ripping rally on the S&P 500 index from time to time, here's what it can't do. The Fed's last card—-deferring one or more of the tiny interest rate increases scheduled for this year——cannot stop the on-coming recession. And it is surely coming. We got one more powerful indicator on that score in this morning's data on core capital goods orders (i.e. nondefense excluding aircraft). Not only were they down sharply from last month, but at $65.9 billion were down 11% from the September 2014 peak, and are also now below the prior cyclical peaks in early 2008 and 2001. In fact, core CapEx orders in December were at a level first reported in April 2000, and that's in nominal dollars. In real terms, they are down nearly 25%. Needless to say, there will be pandemonium in the casino when the downturn is no longer deniable. That's because the main prop under the market today is, in fact, the Wall Street mantra that bear markets never happen in the absence of a recession and that none is purportedly visible. On that score, it is no use listing and documenting all the flashing red lights or that the BLS jobs report is both a lagging indicator and virtually worthless. Today in a nearby column, Lance Roberts reminds that at the top of the cycle the BLS nearly always over-reports employment gains, and that these estimates get revised away in the four subsequent iterations of the data over the next several years. But in the current context, he thinks there is something especially fishy. Namely, that the continuing decline of the labor market participation rate is not consistent with the allegedly robust job count gains, and also it is not consistent with any prior historical relationship between the two. But here is the potential problem for the Fed's dependence on current employment data as justification for tightening monetary policy – it is likely wrong. Economic data is very subject future revisions. While the current employment data has indeed been the strongest since the late 1990's, there is a probability that the data is currently being overestimated. The reason is shown in the chart below: If the employment gains were indeed as strong as the Fed, and the BLS, currently suggest; the labor force participation rate should be rising. This has been the case during every other period in history where employment growth increased. Since the financial crisis, despite employment gains, the labor force participation rate has continued to fall. No, the consumers of America cannot shop the nation out of recession, either. That would take robust job and earnings gains, which are not happening, or a new round of household leverage gains, which are not remotely feasible given the condition of "peak debt" now prevalent. On this score, we reported the other day that the vaunted strength of auto sales was actually nothing of the kind; and that we are likely at the turning point in the auto sales recovery cycle because virtually anyone who can fog a rear view mirror has already been given a car loan. Indeed, during the past 12 months auto dealer sales rose by $65 billion but vehicle loans outstanding soared by $90 billion to an all-time high! The surging dealer lots would actually have been even more flooded with unsold cars without this final injection of cash to the bottom of the credit ladder. Still, the talking heads keep telling you that households have substantially deleveraged and are fixing to embark on a new spending spree. No they are not. After a few quarters of reduction owing to the massive write-downs of mortgage debt after the crisis, household debt has again crept higher. In fact, it is up by nearly $1 trillion since the late 2011 lows; and at 180% of wage and salary income remains drastically elevated by all historical standards. Wall Street never forecasts a recession, of course. Not even when powerful indicators like the soaring inventory-to-sales ratio suggest that a downward production and income adjustment is just around the corner. In fact, as of the most recent data, total business sales—–manufacturing, wholesale and retail—–were down by nearly 4% from their mid-2014 peak. And the ratio of inventory to sales has shot up to levels last posted in October 2008. Business sales and investment are the heart of the equation. When they head south, the recession is just around the corner. It is only after the fact that the nation's stock market obsessed C-suites get around to unloading excess labor inventories. In the meanwhile, the sell-side does its level best to keep the dying bull alive with its own hockey stick projections. At the moment, the all is awesome chorus insists that what will be another negative growth earnings season should be ignored. That's because its just the energy industry profits plunge rotating through the year-over-year comparisons. Needless to say, by the second half of this year and 2017 it will all be blue skies again. In fact, the current consensus EPS for 2017 is no less than $141 per share on the S&P 500. And at today's closing price of 1893 that's a PE multiple of just 13.4X. No sweat! Then again at the comparable point in the 2015 earnings cycle—-that is, February 2014—-the Wall Street hockey stick pointed to $137/per share. After three quarters of actuals and the downgraded estimates for Q4, that number has plummeted to $106 per share; and that's after excluding about $12 per share of inconvenient "ex-items" stuff like restructuring charges, plant closings, lease write-offs, stock option costs and much more. In fact, however, the actual GAAP earnings reports, which are filed with the SEC and signed off by the CEO and CFO on penalty of jail time, are pointing in a decidedly different direction. Reported GAAP earnings peaked at $106 per share on the S&P 500 more than a year ago for the LTM period ending in September 2014. By the most recent reporting period they were down by 14.4% to $90.66 per share, and there is no reason to believe that this slide will rebound when the Q4 numbers are actually tallied. Here's the thing. This exact pattern occurred during the 2007-2009 collapse. While the Wall Street hockey sticks were projecting earnings of $120 per share or more for 2008, actual GAAP earnings starting falling in the June 2007 LTM period, and kept plunging until they hit bottom at $7 per share in June 2009. The blue bars mark the death throes of a dying bull last time. Self-evidently, this one—market in red—– is not far behind. Regards, David Stockman The post Death Throes Of The Bull appeared first on Daily Reckoning.       | ||||||||||||||||||||||||||||
| No Change in Outlook for Gold and Silver 2016 Posted: 29 Jan 2016 01:53 PM PST With each passing rally hope has bloomed that the bear market in precious metals may be over. The long and deep “forever bear” has to end but it hasn’t yet. Under the surface, the bear market is getting weaker and Gold is growing stronger. It’s showing strength against foreign currencies and has broken its downtrend relative to equities. These are very positive developments and a precursor to the birth of a new bull market. However, the weak rebounds in the metals coupled with the potential for a US Dollar breakout advise us to continue to remain patient and cautious. | ||||||||||||||||||||||||||||
| US Mint Gold Bullion Coin Sales Posted: 29 Jan 2016 01:42 PM PST Recent years have seen countless claims that gold and silver prices have to head far lower, implying demand is low or supply is high. But the actual data continues to prove this false, showing precious-metals bearishness is rooted in sentiment and not fundamentals. One fascinating microcosm of gold and silver demand comes in the form of the US Mint’s sales of its popular American Eagle bullion coins. When American investors buy physical gold and silver bullion, it’s often in the form of these American Eagle 1-ounce coins. They have a really interesting history. Back in the early 1980s, foreign national gold coins led by South Africa’s famous Krugerrand were soaring in popularity. The US Congress didn’t want the States to be left out of the prestigious national-gold-coin business, so it finally acted in 1985. | ||||||||||||||||||||||||||||
| The Fed’s Normalization and Gold Posted: 29 Jan 2016 01:36 PM PST The Fed hike is not the end of the world. The U.S. economy experienced many tightening cycles. Actually, many analysts are citing past rate hike environments as a guide to the future. However, three things make this tightening cycle (if there are more hikes at all) unique. First, the U.S. central bank increased interest rates when the economy is actually decelerating and the manufacturing sector is in a recession. This makes new hikes less probable, while increasing the odds for the U.S. recession in the new year. Both effects are fundamentally positive for the gold market. | ||||||||||||||||||||||||||||
| A Brief Tour of America’s Military Misadventures Posted: 29 Jan 2016 01:27 PM PST This post A Brief Tour of America’s Military Misadventures appeared first on Daily Reckoning. BALTIMORE – The Dow rose 126 points yesterday – just shy of 1%. Stocks are most likely headed down because the thing that sent them up has come to an end. The chart Chris showed you in yesterday's Market Insight tells the tale. Here it is again, in case you missed it. As you can see, over the last six years or so, gains for the S&P 500 have closely tracked the ballooning of the Fed's balance sheet under QE. After shelling out almost $4 trillion on bonds, the Fed's QE is on pause. And stocks are struggling. Coincidence? We don't think so… Deep State Cronies in ActionWe stuffed a few copies of the Hindustan Times in our bag before boarding the plane back from Mumbai. On the front page, French president Francois Hollande is receiving an awkward hug from India's top man, Narendra Modi. And lucky for her – she has backing from one of India's biggest conglomerates, the Reliance group. Reliance is owned by the Ambani family, which lives in Mumbai in the most expensive house ever built. It is 60-story skyscraper, put up at a cost of $1 billion, which now takes a staff of 600 to keep the furniture dusted. No mention was made of how Reliance may benefit from any of the French investment. But Mr. Hollande's deepening ties with India… and Ms. Gayet's deepening ties with Mr. Hollande… can't have hurt the former TV actress's bid for funding from one India's most powerful and well-connected families. U.S. Marine Corps Major General Smedley Butler – who twice won the Medal of Honor – knew war far better than most. "War is a racket," he wrote. But it's the Deep State's favorite racket – partly because there is so much money in it… partly because its main mission is to protect the Deep State's own elite… and partly because the typical citizen never catches on to what a racket it is. In today's essay from the archives, we look at why war is so appealing… War and PeaceThe heart has reasons reason cannot reach. – Sylvie (my French tutor), quoting Sommeil
That insight comes not as a theoretical point but as a bit of practical information. Sketching out a man's internal plumbing on a piece of prescription paper, Dr. Moreau of the staff of the American Hospital's emergency room revealed a design flaw. What a strange thing: The same God that built such an exquisite universe seemed to have lost interest when he got to man's entrails. For there, on the left side of the intestinal tract, is a little appendix – with no role except to create problems. And then, down below are various tubes and passages. Had one of them been made just a little more commodious… I would have been spared a visit to the American Hospital. "And look at that," said Dr. Moreau, holding up an X-ray as though it were an aerial photo of the Hindu Kush. "You're going to have trouble here." "You must have lower back pain from time to time," the doctor noted. It is not our place to carp and criticize. But it would have been nice if the manufacturer had installed more durable cartilage in the 1948 models. And more flexible tubing. "But that is the problem," said my French tutor. "Men are not as you want them to be; they are as they are." Military MisadventuresWhat had set Sylvie off was neither my plumbing nor my neglect of the subjunctive, but my thoughts on war and peace. "Almost every war Americans have ever fought turned out to be a mistake," I had told her. I had taken her on a brief tour of American military history. Every war had its "reasons," but they were all absurd. "What good did the American Revolution accomplish," I wondered aloud, "when other colonies of Britain negotiated their way to independence and were no worse off for it?" What about the War Between the States? If it was fought to get rid of slavery, it was a poor way to do it. Slavery disappeared from the rest of the world with hardly a single fatality. And if it was fought to "Preserve the Union," it was a fraud. Said union was founded on the principle that people could decide for themselves what government they wanted to plunder them. "And World War I… What's the Point?"Yes. But what was the point? "If the U.S. hadn't pumped in so much money, war material, and then soldiers, the war probably would have ended sooner. And much better. "By 1917, both sides were nearly exhausted. They would have had to negotiate an end to the war. But the entry of the U.S. gave the Allies ammunition and the Germans targets. "The U.S. encouraged the British and French to believe they could win the war, so they wouldn't have to accept a negotiated settlement. "So, the war continued until Germany finally capitulated. But it was Germany's defeat, and the terms imposed on her by the Allies, that led to hyperinflation in Germany… the rise of the Nazis… World War II… and the Holocaust… "The average American couldn't have cared less about the Archduke Ferdinand. He had no idea who Ferdinand was… or where he stood in the pecking order of European politics. "He was as ignorant of the Austro-Hungarian Empire as he was of the contents of Austrian sausages. An American of sound mind and decent judgment would have just as soon seen the Archduke stuffed and used as a parlor ornament as revenged. "But once stirred up by the press – and the big idea of 'making the world safe for democracy' – he was ready to enlist and get himself blown up believing that he was protecting Western civilization from the invading Huns. "World War II was an exception, from a U.S. point of view," I continued. "The U.S. was attacked. Japan and Germany declared war on the U.S. It made sense to fight back. "But for the people who started the war – the Germans and Japanese – it was a complete disaster. It would be hard to imagine a more foolish course of action. The two nations who caused the war were completely ruined by it." Sylvie had sat quietly through this rant – merely correcting my grammar as necessary. But now she calmly replied: "You're right, of course. War doesn't make much sense. "But so what? Who ever said it had to?" The Absurdity of ReasonIn 1910, British author, journalist, and politician Sir Ralph Norman Angell (who later won a Nobel Peace Prize) convinced many of the world's leading intellectuals that war was a thing of the past. But you, dear reader, are already in on the secret – reason is no rampart against imbecility. Man, with his power of reason, is badly designed. Since he is able to reason, he imagines that the world – and he himself – acts the way it thinks reasonable. Angell was not the only one to underestimate war. As the soldiers gathered on the eve of World War I, one intellectual argued: "War is costly; therefore, it will be short. The Germans want to crush the French as quickly as possible so they can turn their attentions to the Russians. "The Austrians want to get rid of the Serbians as fast as they can so they can turn to face the Cossacks. The Russians must get to the front as soon as possible so they can relieve France. "Our soldiers leave and leave gaily," reported French newspaper Le Figaro on August 2, 1914. "We'll be back… It will be over quickly," a group of infantrymen told a reporter from another French rag Le Temps. Chump HeroesIt was widely believed that – like a barroom brawl – the war would be quick and violent. The Commander-in-Chief of the French forces on the Western Front during the first two years of the war, Marshal Joffre, believed in "the offensive at all costs." The logic was impeccable. If the war was to be swiftly decided, the winner would be the one who brought to bear the greatest force of arms the most quickly; holding back could be fatal. General Grandmaison was a real thinker. But his thinking couldn't make the world behave as he thought it should. He believed in "attaque à outrance" – best understood as an excessive or reckless attack. It was just such an attack that got him killed in one of the first battles of the war, at Reims. The war continued for four long years. The final outcome was determined not by the initial attacks but by what was held in reserve: manpower, material, and money. Surely, on some forgotten monument in some forgotten burg somewhere in France, you will find Grandmaison's name among "Nos Héros… Mort Pour La France." Perhaps someone has inscribed a parenthetical remark: "General Grandmaison – A hero and a chump… faithfully imprudent to the end." Regards, Bill Bonner Originally posted at Bill Bonner's Diary, right here. P.S. Bill expects a violent monetary shock, in which the dollar — the physical, paper dollar — disappears. And he believes it will be foreshadowed by something even rarer and more unexpected — the disappearance of cash dollars. Many Americans don't see this coming because of what psychologists call "willful blindness." But Bill has taken the extraordinary step of assembling the full shocking details in a special report. To get full details on what Bill calls the "Great American Credit Collapse", click here right now. The post A Brief Tour of America’s Military Misadventures appeared first on Daily Reckoning.     | ||||||||||||||||||||||||||||
| And Now For a Hard Drop In Comex Deliverable Silver Posted: 29 Jan 2016 12:53 PM PST  | ||||||||||||||||||||||||||||
| Japan goes Negative Interest Rate - Will US and Canada Follow Posted: 29 Jan 2016 11:35 AM PST Bank of Japan has joined ECB, SNB, Denmark and Sweden into sub-zero world. Negative rates may become `new normal.'Will the US and Canada join in? The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||
| Psychology of Survival: Pleasure and Pain Posted: 29 Jan 2016 10:42 AM PST A brief rant about the little pleasures of bugging out! 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://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||
| Dr. Richard Alan Miller - Planet 9 & Geopolitical Physics Posted: 29 Jan 2016 10:31 AM PST Jeff Rense & Dr. Richard Alan Miller - Planet 9 & Geopolitical Physics Clip from January 20, 2016 - guest Dr. Richard Alan Miller on the Jeff Rense Program. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||
| Red Alert -- China Buys All the Gold Produced in 2015 (and more) Posted: 29 Jan 2016 08:49 AM PST We are entering into another debt default cycleForcing people to spend by going to a cashless societyChina pumped 61 Billion dollars in a day into their financial system The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||
| Japan Implements Negative Rates Posted: 29 Jan 2016 07:18 AM PST This post Japan Implements Negative Rates appeared first on Daily Reckoning. And now… today's Pfennig for your thoughts… Good day, and a happy Friday to one and all! Well, the BIG NEWS overnight is that Japan has joined the Swiss, Eurozone, and Sweden in the negative rates club. Japan has been at 0% for so long now, it hit me strangely that the Bank of Japan (BOJ) was moving interest rates. Remember some years ago, when the BOJ tried to hike rates to 0.15%? That move was scrapped very quickly! Anyway, the BOJ announced last night that they will implement a three-tiered system for deposits. Existing deposits don’t change, and neither do the reserve requirements for banks, but any newly created deposits will be charged -0.1%… I’ll tell you right here, right now, that this is a way to slowly introduce negative rates across the board in Japan, and I wouldn’t be surprised if we see that happen in 2016. Yen got whacked and whacked with some sting on the news, losing two whole figures. So, back to a 120 handle for yen, which looks more like what yen should be wearing to me. When I first turned on the screens this morning, it appeared that there were only a handful of currencies with gains vs. the dollar, but now, a half hour later, things seemed to have settled down, except for the euro, Canadian dollar/loonie, Norwegian krone, Swedish krona, pound sterling, and the aforementioned yen. The rest of the currencies are carving out gains vs. the dollar this morning, some small gains, and some larger gains, but gains nonetheless. The euro’s performance this morning is troubling to me. Eurozone 4th QTR CPI did print this morning and consumer inflation as measured by CPI rose 0.4% up from the third QTR’s 0.2% print. So, it doubled! But the euro traders weren’t impressed, and have taken a chunk of flesh from the euro’s value this morning. The single unit remains above 1.09, but with questions. Last Sunday, the BIG BOSS, Frank Trotter, submitted a piece for the Sunday Pfennig, on Nicaragua. In it he mentions how the euro has been resilient above 1.05. I usually try not to say stuff like that, because when I do, it’s usually the kiss of death for the respective currency I’m talking about! So, I hope the BIG BOSS has better luck with that than I do! The Central Bank of Russia, (CBR) left rates unchanged overnight, and a lot can be said for timing, eh? Think about this for a minute. Ten days ago, the ruble looked to be teetering on a cliff. If the CBR had met at that time, they might have been moved to hike interest rates to protect the ruble. But fast forward to this morning, and the ruble has been on a winning streak ever since last Friday morning, when the price of oil bounced off the cycle low of $26.75. And now the CBR can breathe easier, and leave rates unchanged. Timing… That used to be one of my fave jokes. I would say, “I’m a mentally challenged comedian, ask me what the most difficult part of my job is” And so the person I said that to would start to ask me, “What’s the most” and I would interrupt them and say, “timing”. I guess you had to be there! HA! Things are back to normal with the Chinese renminbi and Indian rupee today, with both showing gains vs. the dollar. There’s been some divergence between these two currencies in recent trading sessions that I’ve pointed out to you, but today, things are back to normal! The renminbi was allowed to appreciate at the fixing by 120 ticks, so a larger appreciation than yesterday, and continued an eight consecutive days of daily appreciations in the fixing. No, none of the daily appreciations have been large, but, as I pointed out the other day, an appreciation is an appreciation, let’s not look a gift horse in the mouth! Pent up frustration has got to be what turned the rupee traders around. For there was no economic data to speak of, and the only thing actually going on in India is a speech by Finance Minister, Jaitley, who did say something that I thought was good, and is something more FM’s should think about using. Jaitley said, that the Indian economic growth of 7 to 7.5% was “below potential”. Yeah, that’s right Mr. Jaitley, but that’s always been the problem in India, unlocking the potential. I thought that Reserve Bank of India (RBI) Gov. Rajan was on the right road to doing just that a couple of years ago, but the same old roadblocks and potholes on the road to unlocking the economy stopped him. Then I thought new PM Modi would unlock the economy with his proposed reforms, but that hasn’t happened either. So, Mr. Jaitley, you acknowledge the problem, what will you do about it? I’m very surprised to see the Canadian dollar/loonie and Norwegian krone getting sold this morning, as the price of oil inched higher to a $33 handle overnight. The other Petrol Currencies of: Russia, and Mexico are firmly on the rally tracks this morning. And Brazil is just opening up, and while it’s down at the moment, that can change once real traders get a handle on the rise in the price of oil. In the discussion further down about the U.S. Data Cupboard, we’ll discuss the U.S. 4th QTR GDP. But this space is reserved for a discussion on the Canadian November GDP, which will also print today. You may recall that the Rocktober GDP print for Canada was flat as a pancake at 0%, so a we’re looking for a positive November print. And that’s why the loonie is getting sold this morning, because loonie traders just don’t believe the forecasts of a rise in GDP of 0.3%… They’re betting that it will be disappointing, and that will lead to rate cut talks, and they’re just trying to get ahead of the crowd here. So, the risk for these guys is that Canada’s November GDP prints 0.3% or higher, that would cause a short squeeze in the loonie, and turn this ship around this morning. The Aussie and New Zealand dollars (A$’s and kiwi respectively) are flat to up a tiny bit this morning. I don’t think A$ traders are as risk-minded as the loonie traders, because it appears to me that the A$ traders don’t want to make any bets ahead of the Reserve Bank of Australia (RBA) meeting on Monday. The price of oil inches higher to a $33 handle. I was doing some reading yesterday, and came across an interesting piece regarding oil production and how the Russians are proposing cuts in production. Russia has asked the OPEC members to cooperate with a cut in production, which would boost the price of oil, which is what Russia needs badly. Of course, Saudi Arabia could use a higher oil price too, as well as some of the other OPEC Members. I guess we’ll have to wait-n-see what happens here. I for one am doubtful that Russia can pull this together, but then stranger things have happened on earth. And gold is off by a couple of bucks this morning, after giving back some of its recent gains in yesterday’s trading. After touching $1,125 the other day, gold has slid backwards to today’s level of $1,113… UGH! Ed Steer had some numbers on the short positions in gold and silver this morning. Check these out: the short position in SLV is 11.22 million shares/troy ounces, which is an increase of 8% from 10.35 million. In GLD, the short position is 919,270 troy ounces, but 4.7% from 877,700. And one would ask why these short positions are so large? And who’s regulating this? Let’s just slip back to 2007 for a minute here. The U.S. financial meltdown. I’ve always maintained that U.S. had the regulations to keep the country from getting where it went, but the powers that be chose not to enforce them, and now the U.S. has even more regulation. Are the short positions in gold and silver reliving 2007? Who’s minding the store? Yesterday’s Data Cupboard printed some ugly data. December Durable Goods Orders fell -5.1%, (the forecast was for -0.7%) and November’s flat print as revised downward to -0.5%… Now I admit that this data can be volatile at times as it uses airplane orders that can really skewer the data, but this is ridiculous, month after month these negative prints. And Capital Goods Orders printed as bad, falling -4.3% in December. And the Fed hiked rates last month? I’m still scratching my bald head over that one! Well, the U.S. Data Cupboard is chock-full-o-real-data today. Of course, when I say “real data” I don’t mean to say that the data is free of hedonic adjustments, it’s just that we’re talking about market moving data, whether it’s “good data” or not. And leading off for us is the first look at 4th QTR GDP. And the forecasts are for this data to print no more than 0.8% 4th QTR Annualized. OUCH! Did that hurt anyone else? That “snap back” in GDP is sure to catch someone’s attention at the Fed. Now is when I remind everyone that last year, the government added R&D to the GDP Calculation, and it was supposed to be responsible for up to 3% per year in the total. So, take out 3% and you have negative GDP. So, before the hedonic adjustment, we would be talking about recession here in the U.S. timing. again. We’ll also see the 4th QTR PCE (personal consumption expenditures) which is the Fed’s preferred inflation gauge. So, the third QTR PCE was 1.4%, nowhere near the Fed’s 2% target. What do you think the fourth QTR PCE will be? I’m saying that it will slip backwards, to 1.3% or maybe even 1.2%. In addition, there are some other data prints today that don’t carry the weight that these two that we just talked about do. The Chicago PMI (manufacturing for the region), the U. of Michigan Sentiment for the first two weeks of January, and the Advance Goods Trade Balance for December. I pulled this from my daily MarketWatch email and when I saw that Ed Steer had pulled it too. I thought, by golly, I have to use it now! For if it’s good enough for Ed, it’s good enough for me! You can find the whole article here, and here’s the snippet:
Chuck again. I had to stop and reread the line I’m about to tell you. That Traders who bet on rate hikes are now betting that the Fed’s next rate hike won’t take place until September! Well, I have to take issue with that, because I believe by September, the Fed will be reversing their rate hikes, and coming back to the QE table! That’s it for today. I’m going to head to the corner of Fantastico and Friday, I hope you can make it there too! Regards, Chuck Butler P.S. Be sure to sign up for The Daily Reckoning — a free and entertaining look at the world of finance and politics. The articles you find here on our website are only a snippet of what you receive in The Daily Reckoning email edition. Click here now to sign up for FREE to see what you're missing. The post Japan Implements Negative Rates appeared first on Daily Reckoning.     | ||||||||||||||||||||||||||||
| IT BEGINS… Primary Silver Mining Company To Cut Production 25% In 2016 Posted: 29 Jan 2016 06:22 AM PST SRSRocco Report | ||||||||||||||||||||||||||||
| Yen slides after Bank of Japan stuns markets with negative rates Posted: 29 Jan 2016 05:30 AM PST By Anirban Nag The yen was on track for its biggest daily fall against the dollar in over a year on Friday after the Bank of Japan stunned markets by joining a handful of major central banks in adopting negative interest rates. The turmoil in markets since the start of the year on fears of slowing global growth, collapsing oil prices, and wobbles in China's economy has driven investors to seek safety in the yen, making the BOJ's 2 percent inflation goal ever harder to reach. The BOJ said it would apply a negative interest rate of minus 0.1 percent on selected current account deposits that financial institutions hold with it, effectively charging banks interest for parking excess deposits at the central bank. ... ... For the remainder of the report: http://www.reuters.com/article/us-global-forex-idUSKCN0V700D 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. Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal 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: | ||||||||||||||||||||||||||||
| Steve Forbes Speaks Out on the Presidential Race, Fed Recklessness, and Gold Posted: 29 Jan 2016 03:30 AM PST Forbes Pulls No Punches in Exclusive Interview with Money Metals Exchange Mike Gleason, Director, Money Metals Exchange: It is my great privilege to welcome Steve Forbes, Editor-in-Chief of Forbes Magazine, CEO of Forbes, Inc. to our Money Metals Exchange podcast. Steve is also author of many fabulous books, including Flat Tax Revolution, How Capitalism Will Save Us, and his latest work, Reviving America: How Repealing Obamacare, Replacing the Tax Code and Reforming the Fed Will Restore Hope and Prosperity. He's also a two-time Presidential candidate, having run in the Republican primaries in both 1996 and 2000. It's a tremendous honor to have him with us today. Mr. Forbes, thank you so much for joining us and welcome. | ||||||||||||||||||||||||||||
| US Stock Market & the Gold Sector Analysis Posted: 29 Jan 2016 03:24 AM PST To review our stance, which is years along now, the gold sector is not going anywhere until it becomes widely accepted that developed stock markets, including and especially those in the US, are in bear cycles. We have also drawn analogies to the Q4 2008 event that took place in what felt like a nanosecond compared to today’s long, drawn out process. For this reason, a better ‘comp’ has been the 1999 to 2001 time frame. That was a process as well. | ||||||||||||||||||||||||||||
| Gold and Silver Price Manipulation: Can It Be Empirically Verified? Posted: 29 Jan 2016 03:16 AM PST Dr Brian Lucey, Dr Jonathan Batten and Dr Maurice Peat have just published some interesting research looking at the thorny issue of whether there is manipulation of gold and silver prices. | ||||||||||||||||||||||||||||
| Anonymous 2016 WARNING ⚠ Message to Turkey!! Posted: 29 Jan 2016 03:02 AM PST shut all the government net down. 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://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||
| Gold Daily and Silver Weekly Charts - Pullback - Mostly Mozart - Terrible Vision Posted: 28 Jan 2016 01:34 PM PST  |
Every once in a while it is a good thing to review something we already know and have known for quite a while. What we’re talking about are derivatives and the very basics of how they work… or not. We have seen massive volatility since the Fed raised rates last month. The humor (tragedy), admitted to yesterday by the Fed, the 4th quarter saw slowing economies all over the world and “
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