From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
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Latest News From August 26, 2016 to September 1, 2016:
- Current Global Financial System is Toast-John Rubino
Financial writer John Rubino says don’t be fooled by the phony economy propped up by central banks. Rubino co-wrote a book a few years ago called “The Money Bubble.” It could have been written this week because almost everything he predicted then is coming to a head now. Rubino contends, “The money bubble is basically the big bubble that all previous bubbles have been built on. All the previous bubbles have come and gone, and “The Money Bubble” is about money, government debt and financial instruments, in general. So, it’s a global bubble that is bigger than anything that has come before. Part of the reason it has gone on so long is everybody is participating. Every central bank has a printing press, and that allows them to fool people . . . . It fools people into thinking that the world is basically normal, and it’s not normal. . . . We are creating the conditions for the Mother-of-All financial crises. It is taking longer to happen than was thought of a few years ago, but it is starting to happen now. The QE (money printing) programs of the past few years, which were wildly experimental and really shocking to economists and everybody else, turn out not to work. . . . Either the system is getting ready to break down shortly or go on to a new level of experiments that are going to be even more dangerous . . . either way, the current system is toast.”
- “The Fed Has Mastered Market Manipulation” – Bill Gross Explains Why He Is Not A “Broken Clock”
One day after Stanley Fischer provided a bizarre justification for why “negative rates seem to work”, saying that “clearly there are different responses to negative rates. If you’re a saver, they’re very difficult to deal with and to accept, although typically they go along with quite decent equity prices”, this morning in his latest monthly investment oulook, Bill Gross takes not only Fischer but the entire Fed to town, and piggybacking on the words of Kevin Warsh, says that “I and others however, have for several years now, suggested that the primary problem lies with zero/negative interest rates; that not only do they fail to provide an “easing cushion” should recession come knocking at the door, but they destroy capitalism’s business models – those dependent on a yield curve spread or an interest rate that permits a legitimate return on saving, as opposed to an incentive for spending. They also keep zombie corporations alive and inhibit Schumpeter’s “creative destruction” which many argue is the hallmark of capitalism. Capitalism, almost commonsensically, cannot function well at the zero bound or with a minus sign as a yield.”
- Global Supply Chains Paralyzed After World's 7th Largest Container Shipper Files Bankruptcy, Assets Frozen
… today the largest casualty finally emerged on Wednesday when South Korea's Hanjin Shipping, the country's largest shipping firm and the world's seventh-biggest container carrier, filed for court receivership after losing the support of its banks, leaving its assets frozen as ports from China to Spain denied access to its vessels. As Reuters reports, banks led by state-run Korea Development Bank withdrew backing for the world's seventh-largest container carrier on Tuesday, saying a funding plan by its parent group was inadequate to tackle debt that stood at 5.6 trillion won ($5 billion) at the end of 2015.
- Are Central Bankers Coming to a Bitter End?
Central bankers these days are seriously trapped. They cannot now reverse their policies for that means they have to admit that they have failed. This is why the Yellen is not so eager to move to negative rates and has continued to take the view that rates must be normalized (raised). That is far more serious than you might imagine. To even entertain backing down from negative interest rates means they have to admit that Keynesian/Marxist economics has completely failed and therein socialism, which is based upon the very principle that government CAN and is CAPABLE of managing the economy. This is the real question presented in the American presidential elections, yet nobody will articulate it in this manner. Hillary still preaches the same failed socialist agenda as if government can even do anything other than attack people who earn more money as did Emperor Maximinus of Rome, but pretend to give it to those who produce less.
- War On Cash: Discontinue Professor Rogoff’s Stupid Commentary, Not the $100 Bill
In a recent opinion piece for the Wall Street Journal, Harvard economist Kenneth Rogoff declared that there’s “little debate among law-enforcement agencies that paper currency, especially large notes such as the $100 bill, facilitates crime.” Rogoff would like to discontinue the $100 in order to – try not to laugh – reduce crime. Can the eminent economist really be so naïve as to presume that the disappearance of a piece of paper would prove effective at making the U.S. (and the world) more honest and safe? Apparently he does, while lightly acknowledging what economists refer to as the “substitution effect.” If $100 Federal Reserve notes prove scarce, then similar euro and Pound bills will do the job, as will 10,000 yen notes. If $100 bills simplify big criminal transactions, wouldn’t little gold coins simplify crime even more?
- Pierre Lassonde, $10,000 Gold, The BIS And A Desperate Gold Swap Dealer Short Position
The most interesting thing about the recent trading action was that the government backstops the heavy short positions held by the banks in the gold market because the bullion banks act as agents for the Federal Reserve, but they don’t officially backstop a large swap dealer who is in trouble. So KWN was particularly interested in seeing if the advance in gold would be brought to a halt and the price driven lower because of a swap dealer’s deeply underwater short positions…
- Debt, Deficits & Economic Warnings
While the world has been focused on the Federal Reserve, the markets, and the upcoming election, few have noticed the expansion of the deficit in recent months which is now in excess of $667 billion up from a recent low of $530 billion. During the financial crisis, the deficit ballooned to a record of $1.35 trillion as tax revenue declined as Government spending swelled. Importantly, the Federal Deficit was approaching 10% in 2009, a historical record for the U.S., but still remains at levels associated with weaker economic growth rates and recessions.
- ALERT: James Turk Issues Dire Warning As Fed To Monetize ‘Everything In Sight’
Today James Turk issued a U.S. dollar hyperinflation warning. Turk warned that the Fed is going to “monetize everything in sight.” James Turk: “There is a very important change taking place in the stock market, Eric. While subtle and little noticed so far, this change is starting to stick out like a sore thumb and can no longer be ignored. Although the Dow Jones Industrials and other major indices are making new highs, the banking sector is glaringly underperforming. This divergence is clear from the following chart showing the NYSE Composite Index of all stocks on that exchange compared to the sub-sector of companies involved in banking and finance, the NYSE Financial Index.
- The World Is Hurtling Toward A New Global Monetary System
As we come to the end of what has been a wild summer, the world is hurtling toward a new global monetary system. By Ronald-Peter Stoeferle, Incrementum AG Liechtenstein August 28 (King World News): “It is well known that every boom must one day come to an end. The businessman’s situation, however, depends on knowing exactly when and where the break will first appear. No economic barometer can answer these questions. An economic barometer only furnishes data from which conclusions may be drawn. Since it is still possible for the central bank of issue to delay the start of the catastrophe with its discount policy, the situation depends chiefly on making judgments as to the conduct of these authorities. Obviously, all available data fail at this point. But once public opinion is completely dominated by the view that the crisis is imminent and businessmen act on this basis, then it is already too late to derive business profit from this knowledge. Or even merely to avoid losses. For then the panic breaks out. The crisis has come.” — Ludwig von Mises. A new recession is inevitable. As already mentioned above, precise predictions regarding the when or how are not possible. At this juncture we nevertheless want to warn about an economic scenario that we believe to be a realistic possibility, namely stagflation.
- Can Americans Overthrow The Evil That Rules Them? — Paul Craig Roberts
Paul Wolfowitz and the lies that he told in the high government positions that he held are responsible for a massive number of deaths and massive destruction in seven countries. Wolfowitz has announced his vote for Hillary Clinton. Does this make you feel reassured? The real surprise would have been Wolfowitz’s announcement in favor of Donald Trump. So why was what was expected news? Trump has said that he doesn’t see any future in the conflict Washington has initiated with Russia, and Trump questions the point of NATO’s continuing existence. These peaceful attitudes make Trump into a “national security risk” according to Wolfowitz. What Wolfowitz means is that a peace candidate is a threat to Wolfowitz’s doctrine of US world hegemony. In the crazed mind of Wolfowitz and the neoconservatives, America is not safe unless it rules the world.
- Major Cities All Over America Have Become Infested With Opioid Addicts And Extremely Violent Gangs
Violence and drugs are flooding the streets of our major cities, but those that live in cushy suburban neighborhoods may not have heard much about this because the mainstream media is so obsessed with covering Donald Trump and Hillary Clinton. As you will see below, drug overdose deaths involving heroin and prescription opioid pain relievers have soared to unprecedented levels, and in some areas of the country health authorities are finding themselves absolutely overwhelmed by overdose cases this summer. Law enforcement officials are doing what they can to combat this epidemic, but because Barack Obama has left our borders wide open the gangs are able to transport these dangerous drugs into this country with ease. As a result, we are facing a crisis on a level that we haven’t seen since at least the 1980s.
- Witchcraft, Islam And Humanism Are Filling The Spiritual Void Left By The Dying Church
A dramatic spiritual paradigm shift is taking place in the western world. At the end of last week, I discussed the fact that more Americans than ever before appear to be turning away from the Christian faith, and this is particularly true among our young people. And while it is undeniable that atheism and agnosticism are both growing rapidly, it is also important to point out that other faiths are on the rise in the western world at the exact same time that Christianity is shrinking. If you are a Christian, what you are about to read should concern you greatly. Let’s start with witchcraft. It has been estimated that Wicca (one very popular form of witchcraft) is now the fastest growing faith in America. Books and movies featuring Harry Potter and others that use “magic” for good have fueled a tremendous amount of interest in the dark arts these days.
- The Day The Lights Go Out And The Trucks Stop Running
What would happen if some sort of major national emergency caused a massive transportation disruption that stopped trucks from running? The next time you talk to a trucker, please thank them for their service, because without their hard work none of our lives would be possible. In America today, very few of us live a truly independent lifestyle, and that means that we rely on the system to provide what we need. Most of us take for granted that there will always be plenty of goods at Wal-Mart and at the grocery store whenever we need more “stuff”, and most of us never give a second thought to how all of that “stuff” gets there. Well, the truth is that most of it is brought in by trucks, and if the trucks stopped running for some reason the entire country would devolve into chaos very rapidly.
- America The Debt Pig: We Are A ‘Buy Now, Pay Later’ Society – And ‘Pay Later’ Is Rapidly Approaching
If you really wanted to live like a millionaire, you could start doing it right now. All you have to do is to apply for as many credit cards as possible and then begin running up credit card balances like there is no tomorrow. At this point, I know what most of you are probably thinking. You are probably thinking that such a lifestyle would not last for long and that a day of reckoning would eventually come, and you would be exactly right. In fact, anyone that has ever had a tremendous amount of credit card debt knows how painful that day of reckoning can be. To mindlessly run up credit card debt is exceedingly reckless, but unfortunately that is precisely what we have been doing as a nation as a whole. We are a “buy now, pay later” society, and our national day of reckoning is approaching very, very quickly. Often we like to focus on our exploding national debt, but household debt is out of control too. In fact, the total amount of household debt in the United States is now up to a whopping 12.3 trillion dolllars…
- Clinton Foundation Largest Unprosecuted Charity Fraud in History-Charles Ortel
Wall Street financial expert Charles Ortel claims the Clinton Foundation is the “largest unprosecuted charity fraud in world history.” He also says this global fraud could not be pulled off without a lot of help. Ortel explains, “I think this is an example of a vast left-wing conspiracy. If you go back into the history, the Clintons always like to expose the things that go down for their credit, and they always try to hide the stuff that doesn’t make them look so good. When you go back into the history of the Clintons, Bill and Hillary, and now Chelsea, have been monetizing government service. They have been operating as Robin Hood in reverse. Stealing from the poor to reward their rich cronies. . . . I think what you have here is a case study on the proponents of the Clinton wing of the Democratic Party, and they tend to be left-leaning, how these people got together and figured out a charity where foreigners can give unlimited amounts of money, and U.S. players can give unlimited amounts of tax deductible money to an entity. This could be a preferred vehicle for strengthening the Clinton wing of the Democratic Party and Clinton interests around the world.”
- G-7's Penny-Pinching Ways Clash With Central Bank Stimulus
One big reason the global economy is spinning its wheels: some of the world's richest governments are being tightwads. Group of Seven governments have been cutting their investment spending since a brief surge as the global financial crisis took hold. As a share of the group's gross domestic product, those expenditures were 3.3 percent in the first quarter, matching the lowest since 2000 and down from 4 percent at the start of 2009, according to numbers crunched by Oxford Economics.
- Fed’s Fischer Says Negative Rates Seem to Work in Today’s World
Federal Reserve Vice Chairman Stanley Fischer said negative interest rates seem to be working in other countries, while reinforcing that they aren’t on the table in the U.S. While the Fed isn’t “planning to do anything in that direction,” the central banks using them “basically think they’re quite successful,” Fischer said Tuesday on Bloomberg Television with Tom Keene in Washington. He reiterated that Fed rate increases will be data dependent without giving a specific timeline.
- Apple: You can have taxes or you can have jobs but you can't have both
Apple's official statement on the EU ruling against its Irish tax arrangements tells you all you need to know about what is at stake: You can have taxes, or you can have jobs, but Apple is in no mood to deliver both. After learning this morning that the EU expects Apple to pay €13 billion (£11 billion, $14.5 billion) in back taxes, the company said, “it will have a profound and harmful effect on investment and job creation in Europe.”
- German Government Proposes Bill To Confiscate Food Businesses
In a shocking story from German news the Government is proposing a bill to confiscate company that do business in food. Food stores, grocery warehouses farm fields etc. All this is being suggested as a bill in the event of a War Crises, Terrorism, Blackout, or Pandemic.
- The US: A Dead Nation Walking — Paul Craig Roberts
In his article Orlov concludes that the United States is a dead nation, still walking, but no longer a uni-power. I agree with Orlov that US weapon systems are more focused on profits than on effectiveness and that Russia has superior weapons and a superior cause based on protection rather than dominance. However, in his assessment of the possibility of nuclear war, I think that Orlov under-appreciates the commitment of Washington’s Neoconservatives to US world hegemony and the recklessness of the Neoconservatives and Hillary Clinton. Washington is incensed that Russia (and China) dare to stand up to Washington, and this anger crowds out judgment. Orlov, also, I think, under-estimates the weakness in the Russian government provided by the “Atlanticist Integrationists.” These are members of the Russian elite who believe that Russia’s future depends on being integrated with the West. To achieve this integration, they are willing to sacrifice some undetermined amount of Russian sovereignty.
- The Stunning Roadmap To The Coming Global SDR Currency
With many investors worried about the economic turmoil that has engulfed the globe, here is stunning the roadmap to the coming global SDR. Stephen Leeb: “Wake up, America. We have a problem that’s threatening our economy and perhaps even our continued existence as a free society, and no one is paying attention. The problem: we have too much money and too little wealth. Today our money-to-wealth ratio is probably lower than for any other developed country in history. But there’s no indication that policymakers here understand the key distinction between money and wealth or even see the dire implications. The Chinese do. They realize the vastly disproportionate amount of money compared to wealth in the West has made the world’s dollar-denominated monetary system a cancer. The Chinese are scared to death it could spread to contaminate them, and they’re determined to change the system.
- Don’t Wait For a Reset: When The Economy Crashes There Will Be A Reallocation Of Money – Bix Weir
Don’t Wait For a Reset – Bix Weir warns that when the US Economy crashes, there will be a reallocation of assets…
- Jim Rickards: “There Will Be A War On Gold”
Following a recent keynote presentation at the Sprott Natural Resource Symposium, James G. Rickards, best-selling author and advisor to the U.S. Department of Defense and Intelligence Communities, was kind enough to share a few comments with the Sprott’s Thoughts publication. It was a fascinating conversation, as Jim noted the world’s monetary structures resemble, “Two tectonic plates; there’s the natural tectonic plate—deflation—and then…the policy plate of inflation—which is money printing, currency wars, QE, operation twist, negative interest rates, and zero interest rates…” “These [tectonic] forces are not only coming together,” he explained, “[But] they’re getting more powerful and they’re going to snap…When? No one knows… [But] the effect will be dramatic.” That tectonic “snap”, Jim described, will have devastating impact on peoples’ confidence in fiat currencies. “Confidence will be lost very quickly,” he said. And like a coiled spring, “You will have your inflation—all at once.” Even more chilling, was a recent conversation Jim had with banking & government officials, while at the Pentagon.
- Is Dow Theory Signaling a Market Crash?
The often-misunderstood Dow Theory is being bandied about in financial media these days, but is it actually flashing a bearish signal or not? The charts below show the Dow Jones Transportation Average (ETF version: SPDR Dow Jones Industrial Average ETF (NYSE:DIA)) has failed to print a new high above the previous high made in 2015. Given the Dow has made a new high, a Dow Theory non-confirmation remains in effect.
- World's First Self-Driving Taxis Debut in Singapore
The world's first self-driving taxis are picking up passengers in Singapore. Select members of the public began hailing free rides Thursday through their smartphones in taxis operated by nuTonomy, an autonomous vehicle software startup. While multiple companies, including Google and Volvo, have been testing self-driving cars on public roads for several years, nuTonomy says it is the first to offer rides to the public. It beat ride-hailing service Uber, which plans to offer rides in autonomous cars in Pittsburgh, by a few weeks. The service is starting small — six cars now, growing to a dozen by the end of the year. The ultimate goal, say nuTonomy officials, is to have a fully self-driving taxi fleet in Singapore by 2018, which will help sharply cut the number of cars on Singapore's congested roads. Eventually, the model could be adopted in cities around the world, nuTonomy says.
- Uber Loses at Least $1.2 Billion in First Half of 2016
The ride-hailing giant Uber Technologies Inc. is not a public company, but every three months, dozens of shareholders get on a conference call to hear the latest details on its business performance from its head of finance, Gautam Gupta. On Friday, Gupta told investors that Uber's losses mounted in the second quarter. Even in the U.S., where Uber had turned a profit during its first quarter, the company was once again losing money. In the first quarter of this year, Uber lost about $520 million before interest, taxes, depreciation and amortization, according to people familiar with the matter. In the second quarter the losses significantly exceeded $750 million, including a roughly $100 million shortfall in the U.S., those people said. That means Uber's losses in the first half of 2016 totaled at least $1.27 billion.
- Venezuela's Latest Response to Food Shortages: Ban Lines Outside Bakeries
The tragedy of Venezuela continues unabated, but that doesn't mean the government of President Nicolás Maduro has stopped trying to fix problems like the devastating scarcity of food which has led to malnutrition, riots, food truck hijackings, vigilante lynchings of petty thieves, and the starvation of zoo animals. No, Maduro hasn't admitted the failure of Chavismo — the brand of Bolivarian socialism imposed on the oil-rich country by his late predecessor Hugo Chavez — instead, Venezuela's embattled leader has launched a war on “anxiety.”
- Richmond Fed Manufacturing Survey Collapses By Most On Record
Following flash PMI's drop, another early August indicator has collapsed as Richmond Fed's manufacturing survey plunges to -11 (lowest since Jan 2013) missing expectations of +6. The plunge from July's +10 to August's -11 is the largest on record – back to 1993. Biggest drop on record. Weakness was across the board with new orders crashing from +15 to -20, order backlogs and capacity utlization collapsed, and average workweek slumping.
- Truly, Minimum Wage Rises Cost Jobs – Germany's Minimum Wage Introduction Cost 60,000 Jobs
Yes, I know, there’re all too many poeple who just flat out insist that a rise in the minimum wage just won’t cost any jobs. This is not, to put it mildly, an assertion backed up by any observations of the real universe that we inhabit. I entirely agree that there are potential and theoretical possibilities which mean that people won’t use less of something becoming more expensive. But as with any such potential and theoretical possibilities we do actually have to go and check, measure against reality, their existence and their size. And there just aren’t studies out there which show that they do exist in the required size. Our latest piece of evidence comes from Germany. For those who don’t know Germany never did have a minimum wage. Further, the country had great success in reforming its labour market by lowering wages under the Hartz IV reforms.
- US August Flash Services PMI Declines to 6-Month Low
The Markit US PMI flash services-sector reading declined to 50.9 for August from 51.4 the previous month and the lowest reading since February. The data will maintain a cautious attitude towards the overall outlook, although this data series been relatively downbeat throughout 2016. New work expanded at the slowest pace since May and below historic trends with concerns surrounding political uncertainty having some negative impact. There was, however, a further increase in order backlogs to the fastest rate since April 2015. The increase in employment was at the slowest pace for 20 months with the need to cut costs and subdued demand conditions leading to more cautious hiring plans. According to Markit, the employment reading would be consistent with average monthly employment growth of around 130,000 and the Fed would be uneasy over tightening with employment growth at this pace unless there was clear evidence of rising inflationary pressures.
- What Does Inflation Really Mean?
No other economic concept has created as much confusion and in-fighting among economists as the idea of inflation. Along with its antithesis deflation, they have been the boon and bane of many monetary policy makers, detractors, and admirers for decades. But what does inflation really mean? How does it affect the average business owner or the average individual? More importantly, how do governments and central banks use inflation to justify their own actions? These are essential questions to understand for anyone interested in making informed decisions to protect their wealth.
- Capital Goods Shipments Collapse Most Since 2009 As Durable Goods Orders Bounce In July (Thanks To Revisions)
Following June's disappointing relapse in Durable Goods Orders (which was revised lower), July's preliminary headline rose 4.4% (ahead of 3.4% exp) – the biggest MoM gain since Oct 2015. However, due to the revisions durable goods orders fell 6.4% year-over-year – the second big annual drop in a row. Under the hood most of the headline data beat expectations MoM as follows: New durable goods new orders rose 4.4%, vs Exp. 3.3%, New orders ex-trans. rose 1.5% vs Exp. 0.5%, Non-defense capital goods orders ex-aircraft rose 1.6%, Exp. 0.3%, … but we note that Capital Goods Shipments non-defense Ex-Aircraft fell 0.4% MoM… which led to a 9.5% collapse in year-over-year core capex unadjusted orders.
- “It's Gone” – Why Foreign Demand For US Treasuries Has Disappeared
Last week's TIC data confirmed something the Fed's Treasury custody account has indicated for the past several months: foreign demand for US government bonds has not only tumbled, but there has been aggressive selling. So much so, in fact, that in the past 12 months foreign central banks have sold a gargantuan $335 billion in US Treasuries (and $242 billion when looking at all foreign transactions including private). But how is this possible: after all the yield differential between US government bonds and the rest of the DM complex is approaching record wides.
- The unrelenting hunt for yield may end in tears, says James Grant
Listening to Wall Street pundit James Grant ought to make investors feel uneasy. The prominent author of Grant’s Interest Rate Observer is starting to sound a lot like many permabears roaming this yield-parched world. Grant told Swiss business paper Finanz und Wirtschaft in a Q&A published on Monday that he’s scooping up shares of gold GCZ6, +0.44% and gold miners GDX, +0.08% because he fears that the world will lose faith in central banks, or as he terms it “monetary management.” That call makes Grant sound a lot like Peter Schiff, chief executive of Euro Pacific Capital, who harbors a low opinion of the U.S. Federal Reserve, and central banks in general, and who has a longstanding love affair with gold.
- Pemex Collapse Threatens Biggest Banks in Mexico
These days, the trend is not Pemex’s friend. Mexico’s loss-leading, debt-swamped, state-owned oil giant company announced that in July it had imported 554,000 barrels of oil a day — its highest monthly volume of imports since public records began in 1990. In total, two-thirds of all the oil Mexico consumed in July was imported — a staggering statistic for a country that until not so long ago was home to one of the largest oil fields in the world, the Cantarell. Pemex also acknowledged that its crude production fell a further 5% in July while its natural gas production shrunk 9%. The export figures were just as ugly. In 2011, when the price of Brent crude averaged over $100, Pemex’s export revenues hit a historic peak of $49 billion, a monthly average of $4.11 billion. In the first quarter of 2016 the monthly average was just $893 million. That’s a plunge of 78%.
- Bank of Japan Prepares for Crash Triggered by Fed Tightening
No central bank of a developed country equals the Bank of Japan in trying to manipulate the stock market up by buying equities. The BOJ has done this for years. With breath-taking ineffectiveness. So on July 28, the BOJ announced another stock market pump-up scheme: it would nearly double its annual purchases of equity ETFs from about ¥3.3 trillion to ¥6 trillion ($60 billion). Hedge funds and other speculators expected for the BOJ to instantly throw its weight around in the stock market, and hopes were riding high that the Nikkei would surge, or at least rise in a visible manner. Alas, on Friday in Tokyo, the Nikkei dropped to 16,361, down a smidgen from where it had been on July 28.
- Legend Says Forget The Pullback – Gold Is Headed To $1,600 And Here Is The Big Surprise From China!
As we approach the end of August in what has been a wild summer of trading in the gold and silver markets, today a legend in the business sent King World News a powerful piece about central banks heading toward trouble as gold is headed to $1,600 but here is the big surprise from China. Gold’s Surge To $1,600. By John Ing, Maison Placements. August 25 (King World News) – In the ultimate reality show, America’s political scene has become a reality drama and to no surprise, reality TV star Donald Trump has capitalized on the public frustration, however his solution, is to build a wall. Ironically, Mr. Trump is viewed as the candidate representing change and Hillary Clinton does not. Despite behind in the polls, Mr. Trump may still win. Although if he can’t build a “coalition of the willing” within his own party, how is he going to unify a divided America?
- The World Is About To Witness A Terrifying Mega-Bubble Collapse
With continued uncertainty in global markets, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, warned King World News that the world is about to witness a terrifying mega-bubble collapse. A Massive Black Hole For The Fed & Financial System. Egon von Greyerz: “The more things change, the more they stay the same. The financial world loves focusing on some future event that they think will change everything. There is always some economic data, an important meeting like G20, the Fed, the ECB or a speech by Yellen or some other central bank head who hasn’t got a clue what is happening or what will happen. So now at the end of August, markets have all been focusing on Yellen’s speech at Jackson Hole, Wyoming. Jackson Hole is of course a very befitting name since what the Fed is staring into is a massive black hole into which major parts of the financial system will disappear…
- World War 3 Coming Soon? Tanks Roll Across The Border As Turkish Invasion Of Syria Begins
The invasion of Syria that so many people have been warning about is now happening. On Wednesday, Turkish tanks rolled across the Syrian border, and they were accompanied by radical Islamic Syrian rebels that want to ultimately overthrow the Assad regime. This invasion was conducted under the code name “Euphrates Shield”, and it was supported by airstrikes from A-10s and F-16s that are part of the U.S.-led coalition that has been conducting airstrikes against ISIS targets in the region. The mainstream media in the United States has been very quiet about this escalation of the conflict in Syria, but things are much different in the rest of the world. For example, a major Israeli news source announced the attack this way: “Turkey invades Syria“. And without a doubt, that is precisely what is taking place. The Syrian government denounced this move by Turkey as a “blatant breach to its sovereignty”, and the Russians are deeply alarmed. The farther Turkish forces push into northern Syria, the more likely they will be to encounter Syrian or Russian forces, and one bad move could result in the outbreak of World War 3 in the Middle East.
- Paul Craig Roberts – The World Is Now At The Edge Of The Great Abyss
Former U.S. Treasury Secretary, Dr. Paul Craig Roberts, warned that the world is now at the edge of the Great Abyss. (King World News) Dr. Paul Craig Roberts: I use the writings of Orlov and The Saker as checks on my own conclusions. In his article Orlov concludes that the United States is a dead nation, still walking, but no longer a uni-power. I agree with Orlov that US weapon systems are more focused on profits than on effectiveness and that Russia has superior weapons and a superior cause based on protection rather than dominance. However, in his assessment of the possibility of nuclear war, I think that Orlov under-appreciates the commitment of Washington’s Neoconservatives to US world hegemony and the recklessness of the Neoconservatives and Hillary Clinton. Washington is incensed that Russia (and China) dare to stand up to Washington, and this anger crowds out judgment…
- How to stay optimistic even as terrorists “threaten our existence”
Earlier this week the German government leaked a frightening 69-page memo entitled “Concept for Civil Defense.” Citing multiple terrorist attacks, cybercrime, and a host of other threats, the report states that Germans should prepare for an event that could “threaten our existence.” Yikes. The report proposes a number of mandatory countermeasures, including that Germans should stockpile food and water. There’s also peculiar language about “civil support for the armed forces” suggesting a possible return to mandatory military service, in addition to potential plans for emergency nationalization of food production and distribution. We’ve received numerous emails from friends and readers in Germany asking if it’s time to “get out”. Let’s be honest– most of the West is in the same boat right now.
- There Is A Mainstream Media Conspiracy To Hide Hillary Clinton’s Rapidly Failing Health
Is Hillary Clinton healthy enough to serve as president if she wins the election? Over the past couple of weeks this has become a major issue, and the mainstream media is actively conspiring with the Clinton campaign in a desperate attempt to cover up the truth. For example, the Washington Post, which has essentially become a mouthpiece for the Clinton campaign at this point, has been publishing an article “debunking” claims about Clinton’s health almost every day recently. One of their headlines that really caught my attention was “Don’t believe everything you read about Hillary Clinton’s health on Google“. By the way, there were three Hillary Clinton campaign ads on that one page alone. But CNN took things to an entirely new level this week when it published an article entitled “Clinton’s health is fine, but what about Trump?” I was so flabbergasted by that headline that my wife came into my office to see what all of the commotion was about. No, Hillary Clinton’s health is not “fine”, and we will get to that later in this article.
- More Americans Than Ever Are Losing Their Religion
Never before in U.S. history have so many Americans chosen to be unaffiliated with any particular religious group. As you will see below, the percentage of “nones” in this country has absolutely skyrocketed over the past decade. But not all faiths are losing members in the United States. In fact, Islam, Buddhism, Wicca and various New Age organizations have all experienced excellent growth in recent years. Sadly, almost all of the growth for the “nones” has come at the expense of Christianity. Americans are leaving the Christian faith in droves, and this is why many of our churches are less than half full on Sunday mornings. What we are doing right now is clearly not working, and hopefully we can get the church in America to wake up while there is still time to do so.
- NPR Promotes The Idea Of Carbon Taxing Us For Having Kids Because We're Causing Climate Change
In a long fearmongering fluff piece titled “Should We Be Having Kids in the Age of Climate Change?” about how the world is overpopulated and too many people = man-made global warming so we’re all gonna die unless we stop procreating, NPR is promoting not only all of that propaganda, but the idea that people in developed nations should be carbon taxed by the government for having children. By 2050, it is estimated that every developed nation on the planet will be facing a population with twice as many elderly people as young people. This is happening all over the place. As the workforce shrinks and older citizens retire, countries like Japan that are suffering what has been dubbed “demographic suicide” are actually trying to pay their younger populace to reproduce. NPR and its current climate change profile darling Travis Rieder, Assistant Director for Education Initiatives at the Berman Institute of Bioethics at Johns Hopkins, say they should not only stop doing that immediately but should actually tax people for having kids at all.
- Brewing Collapse of the Western Monetary System? German Government Warns of an Upcoming Catastrophe, Tags Russia as an “Enemy Nation”
Germany has just warned its citizens of an upcoming catastrophe and urged them to stockpile food, water and money for at least 10 days, to be autonomous and independent until the government has caught up putting the necessary public safety systems in place – in case of a ‘catastrophe’. There was no mention on the type of disaster awaiting them. A war, an economic and or monetary collapse, or both? – The warning was later downplayed as part of a ‘routine exercise’ in Germany’s new defense strategy.
- Clinton Foundation donors include dozens of media organizations, individuals
NBC Universal, News Corporation, Turner Broadcasting and Thomson Reuters are among more than a dozen media organizations that have made charitable contributions to the Clinton Foundation in recent years, the foundation's records show. The donations, which range from the low-thousands to the millions, provide a picture of the media industry's ties to the Clinton Foundation at a time when one of its most notable personalities, George Stephanopoulos, is under scrutiny for not disclosing his own $75,000 contribution when reporting on the foundation. The list also includes mass media groups like Comcast, Time Warner and Viacom, as well a few notable individuals, including Carlos Slim, the Mexican telecom magnate and largest shareholder of The New York Times Company, and James Murdoch, the chief operating officer of 21st Century Fox. Both Slim and Murdoch have given between $1 million to $5 million, respectively.
- Thought Volcker Rule Went Too Far? There’s More Coming for Banks
After years of grappling with the Dodd-Frank Act, banks will soon learn what regulators want to do next to rein in Wall Street’s risky investments. The Federal Reserve and other agencies are poised to issue a long-overdue report required by the law that lays out recommendations beyond the Volcker Rule to prevent financial firms from triggering an economic crisis, said two people with knowledge of the matter who asked not to be named before its release. The document will include plans for restricting banks’ investments in copper and hard-to-value assets, said one of the people. While Congress said the report had to be completed within 18 months of Dodd-Frank’s approval in 2010, foot-dragging by regulators has made the exercise a bit of an afterthought in Washington. One group that has been dreading its release is bankers, who are worried the document might suggest sweeping changes to lenders’ ability to invest in physical commodities and buy direct stakes in companies.
- World’s Biggest Pension Fund Loses $52 Billion in Stock Rout
The world’s biggest pension fund posted a $52 billion loss last quarter as stocks tumbled and the yen surged, wiping out all investment gains since it overhauled its strategy by boosting shares and cutting bonds. Japan’s Government Pension Investment Fund lost 3.9 percent, or 5.2 trillion yen ($52 billion), in the three months ended June 30, reducing assets to 129.7 trillion yen, it said in Tokyo on Friday. That erases a 4.1 trillion yen investing return for the previous six quarters starting October 2014, the month it decided to put half its assets into equities. The quarterly decline follows a 5.3 trillion yen loss in the fiscal year through March, the worst annual performance since the global financial crisis. After benefiting from a surge in Japanese equities and a weaker yen earlier in Prime Minister Shinzo Abe’s term, GPIF has posted losses as domestic stocks tumble and gains in the currency reduce the value of overseas assets. Still, for Sumitomo Mitsui Trust Bank Ltd., that’s no reason to veer from the current approach.
- Why I Left Canada And Became A Citizen Of The Dominican Republic
It took nearly ten years but this morning I was sworn in as a citizen of the Dominican Republic. Many might ask, why would a Canadian citizen want to become a citizen of the Dominican Republic? The answer is actually quite long and lengthy. To begin with, as an anarcho-capitalist, I consider governments to be illegitimate and taxation to be theft. However, the entire world, unfortunately, is covered in statism like a giant skin rash… and so, then, the next best option if you want to live somewhat of a normal life and be able to travel is to become a citizen of the best country that suits your personal needs. I was born in Canada but I would never say I am a “proud Canadian”. The reason is that you cannot be proud of something you had nothing to do with. I was just born there… and that made me a Canadian citizen. Apparently, I owed the government about half of whatever I make in my life for that “privilege”.
- CNN Cancels Dr. Drew's Show One Week After He Voiced “Grave Concern” For Hillary's Health
One week ago, board-certified medicine specialist, TV personality and CNN employee Dr. Drew Pinsky broke the mold of conformity, when he said that he is “gravely concerned” about presidential candidate Hillary Clinton’s health, pointing out that treatment she is receiving could be the result of her bizarre behaviors. Appearing on KABC’s McIntyre in the Morning, Pinsky said he and his colleague Dr. Robert Huizenga became “gravely concerned….not just about her health but her health care,” after analyzing what medical records on Hillary had been released. Pinsky pointed out that after Clinton fainted and fell in late 2012, she suffered from a “transverse sinus thrombosis,” an “exceedingly rare clot” that “virtually guarantees somebody has something wrong with their coagulation system.” “What’s wrong with her coagulation system, has that been evaluated?” asked Dr. Drew. Pinsky described the situation as “bizarre,” and said that Hillary’s medical condition was “dangerous” and “concerning”. Dr. Drew also went on to add that it was a sign of “brain damage” when Hillary had to wear prism glasses after her fall.
- Come 2017, will your name be on this list?
The White House was completed in 1800. That same year, John Adams became the first president to live there. Every president since has occupied it. In years past, the White House was open to all … For example, Thomas Jefferson began the tradition of a public reception to celebrate the Fourth of July in 1801. Tables pushed against the walls of the State Dining Room were filled with bowls of punch and plates of sweets. Presidents held these receptions until just after the Civil War. President Herbert Hoover started the annual Easter egg roll on the South Lawn in 1929. White House police estimated more than 47,000 people attended that day. The following year, a crowd of 48,000 showed up. Mrs. Hoover used the Rose Garden as a lost-and-found bureau where children could be reunited with their parents.
- Terminal Economy: “Private Sector Will NEVER Recover…This Time, Replacing Humans Altogether”
People are already taking the expected financial recession pretty badly. There are literally millions of people in the United States who’ve become deeply entrenched in a struggle to find or hold a good job, while keeping expenses covered on the income they do make. But most people assume they will shielded from the worst of it, that at some point things will pick up. Sadly, the forecast is much darker, and the next financial collapse much deeper than almost anyone has prepared for. The outlook from this global strategist at the Macquarie Group is beyond doom and gloom – it is a literal existential crisis.
- WAKE UP CALL: Our Entire World is Going To Change — BILL HOLTER
The cartel hit gold hard again on Wednesday selling $1.5 BILLION is paper gold into the market in ONE MINUTE and as JS Mineset’s Bill Holter notes, “$1.5 Billion of gold is close to 2% of global production and to see that sold in one minute is laughable.” Bill asks, “Who has that amount of gold to sell? And the answer of course is almost no one. And what trader would ever sell in that fashion? And the answer is no one wo would want to keep a job if they were selling for profit. So the sell was obviously to create price, a lower one.” But as the bond market and rising LIBOR rates are telling us, the system is coming apart at the seams and the coming collapse will cause “our entire world to change.”
- Deutsche Bank CEO Warns Of “Fatal Consequences” For Savers
Deutsche Bank's war of words with the ECB is not new: it was first unveiled in February when, as we wrote at the time “A Wounded Deutsche Bank Lashed Out At Central Bankers: Stop Easing, You Are Crushing Us.” Europe's largest bank, with the massive derivatives book, then upped the ante several months later in June, when its chief economist Folkerts-Landau launched a shocking anti-ECB rant in which it warned of social unrest and another Great Depression. Ironically, these infamous diatribes hurt more than helped: telegraphing to the market just how hurt DB was as a result of the ECB's monetary policy, the market punished its stock, which has been recently trading within spitting distance of all time lows, in effect making Deutsche Bank's life even harder as it now has to contend not only with its own internal profitability problems, but also has to maintain a market-facing facade that all is well. So far, it has not worked out very well, prompting numerous comparisons to another infamous bank.
- Demographic HomeMageddon Underway… Will Last Until At Least 2035
91% of all US home buying is done by those aged 20-69yrs/old, according to NAR data. In 2015, Millennials (20-35yrs/old) made up 35% of home purchases, Gen X (36-50yr/olds) bought 26%, Boomers (51-70yr/olds) 31%, and the Silent Generation (70+yrs/old) 9%. I'm no great fan of the NAR, but this makes basic sense as most homebuyers need an income to be homebuyers and most 70+yr/olds are retired and have the lowest average incomes of all the above groups. Here's the very big problem for residential real estate… the chart below shows that over 70% of all the population growth among potential home buyers (20+yrs/old) from 2017–>2030 will be among the 70+yr/olds (chart shows average annual growth for the two groups from 2000–>2016 (left) and 2017–>2030 (right)). This is simply unprecedented in US history.
- 5 Factors That Could Turn America Into Another Collapsed Empire
Nations are just as likely to unravel after periods of prosperity as afte periods of depression. Have you ever met an Ottoman? Or a Habsburg? Neither have I. Like a chopped-up Magritte painting, all that is left of the Habsburgs is a homburg hat. Yet in the 1800s, the Ottoman and Habsburg Empires controlled a huge chunk of the modern world. One in 10 Americans can trace his or her heritage to Habsburg lands, which spanned most of middle Europe from Poland down to Dracula’s castle in Transylvania. Many people have written about poor countries that have fallen apart. But rich nations fall apart, too. In fact, nations are just as likely to unravel after periods of prosperity as after periods of depression. The 2016 presidential campaign appears so bitter precisely because so many Americans worry that the “other” party’s candidate will annihilate the nation.
- Largest Saudi Bank Crashes To Record Low
Despite the exuberant rebound in the price of oil – and the hope that this means something other than an over-financialized commodity being short-squeezed by rumors – all is not well across the oil producers of the world. Having noted the record surge in default protection for Saudi Arabia (ahead of its looming debt deal)…
- On The Bizarre Media Blackout Of Hacked George Soros Documents
Scandal: Leaked documents released a few days ago provide juicy insider details of how a fabulously rich businessman has been using his money to influence elections in Europe, underwrite an extremist group, target U.S. citizens who disagreed with him, dictate foreign policy, and try to sway a Supreme Court ruling, among other things. Pretty compelling stuff, right? Not if it involves leftist billionaire George Soros. In this case, the mainstream press couldn't care less. On Saturday, a group called DC Leaks posted more than 2,500 documents going back to 2008 that it pilfered from Soros' Open Society Foundations' servers. Since then, the mainstream media have shown zero interest in this gold mine of information. We couldn't find a single story on the New York Times, CNN, Washington Post, CBS News or other major news sites that even noted the existence of these leaked documents, let alone reported on what's in them.
- The Earth’s Crust Will Be Shaken By More Than 100,000 Earthquakes That Humans Can Feel In 2016
Did you know that our planet will be hit by more than 100,000 earthquakes of magnitude 3.0 or greater this year alone? Earlier today, I came across a report that contained this amazing fact, but it was so incredible that I felt that I had to go and verify it myself. So I went to the official USGS website, and I found out that this is actually true. Overall, there are about half a million earthquakes around the globe each year, but it is only when a quake is of about magnitude 3.0 or greater that humans actually feel them. As the very large earthquakes in Italy and Myanmar within the last 24 hours have demonstrated, the shaking of our planet is getting worse, and this is something that I have written about over and over again. So why is this happening? Why does the crust of our planet seemingly become more and more unstable with each passing year?
- The Blessing of Cash
Starting today, the Royal Bank of Scotland will become the first bank in the U.K. to impose a negative interest rate on depositors. The negative rate will apply only to corporate customers, including mutual fund managers and pension funds, holding deposits of certain foreign currencies including euros. This means that RBS—in which the U.K. government still maintains a majority ownership stake since its 2008 bailout—will actually charge these customers to “borrow” their deposits. A few weeks ago, RBS notified more than one million small-business customers that they could also be charged for deposits if the Bank of England lowered the target interest rate, which now stands at .25%, into negative territory. Experts are warning that the latest move by RBS would “set alarm bells ringing” among small businesses and ordinary customers. The stage is set for a glorious and long overdue old-fashioned bank run if the BOE ventures to push rates into negative territory.
- We Are on the Brink of World War III; Americans Totally Clueless – Part II
If you heard Part I of today’s interview between “End Time Newsman, Rick Wiles” and Dr. Jim Willie titled, Dr. Jim Willie: We Are on the Brink of World War; Americans Are Clueless, then buckle up and get ready for Part II. As always with Dr. Willie, hold on because it’s going to be just as scary to think about, but just as informative! To begin Part II, Rick Wiles asks Dr. Willie what he has to say about America’s manufacturing PMI report that just came out. Dr. Willie responds by saying: “Implosion. Absolute implosion. Absolutely no equivocation whatsoever. Take a look at electricity usage. It’s way down. Look at trucking freight, it’s way down, shipping cars, they’re way down. The port facilities have set a record: In 2015, US ports exported 500,000 containers that were absolutely empty.” Can you imagine? We’ve actually been paying to export giant shipping containers filled with nothing more than stale air. Take a look at manufacturing PMI in the chart below from Zerohedge.com. The numbers are WAY down. Like virtually every major crash before the one that’s coming, all the alleged “experts” from the major banks haven’t even been close in their estimates, and don’t expect that to change.
- Even Hedge Funds Can’t Understand Today’s Manipulated Markets
One of the big surprises of the past few years is the number of brand-name hedge funds reporting terrible results. Why are hedge funds underperforming generic stocks and bonds? Because governments are now manipulating those markets, and doing so indiscriminately. Japan’s central bank, for instance, is now the biggest holder of most domestic ETFs and a lengthening list of individual equities. But its buying isn’t based on actual analysis; it simply acquires a cross section of major securities. This pushes all prices up simultaneously, giving the market a broad-based rally. Since hedge funds get paid to find special situations that will outperform the broad averages (known as “generating alpha”), when government intervention levitates the household names that dominate the broad averages it tends to leave the more obscure special situations and related strategies behind. So hedge funds end up underperforming, and fail to justify their aggressive fees. And customers respond by pulling money out of hedge funds hedge funds in favor of passive instruments like ETFs which seem to nenefit from indiscriminate government buying.
- John Embry Warns The ‘Deep State’ Shadow Government Is Hard At Work In Financial Markets
On the heels of continued propaganda from the Federal Reserve, today John Embry told King World News that the “Deep State” shadow government is hard at work in financial markets right now. John Embry: “Eric, as you know, we are in an extremely quiet period here in late summer, which allows the usual suspects to push markets around. As I said a week or so ago, everything is being done to assure Hillary Clinton’s ascension to the U.S. Presidency, and quiet periods like this make the manipulation of markets by the powers that be that much easier. World Economy Imploding But Propaganda Is Alive & Well. However, in the real world things continue to deteriorate. In the last few days it has been announced that Apple iphone demand is plunging, Caterpillar has experienced a 20 percent year-over-year revenue decline, Cisco is laying off 20 percent of it s global workforce, etc, etc.
- Look Who’s In Debt! Big 4 Oil Companies Debt Hits Record $184 Billion
So what do you do when the commodity you harvest and sell suddenly collapses by 50-60% and slashes your operating profit? If you said, raise a whole bunch of debt and continue spending on new capital projects to drill for even more supply in a collapsing market then you might be an oil CEO. The Wall Street Journal this morning pointed out that raising debt to cover cash burn is exactly what the largest oil companies in the world are doing. In fact, the 4 largest oil companies have doubled their net debt positions since 2014 when the oil selloff started.
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In Celebration of Lindsey Williams 01/12/36 – 01/23/23
“I have fought a good fight, I have finished my course, I have kept the faith.” – Lindsey Williams In Celebration of LINDSEY WILLIAMS January 12, 1936 – January 23, 2023 On Saturday, April 1, 2023, at FBC Fountain Hills dba Cornerstone Family Church in Fountain Hills, Arizona, there was a special Memorial service in celebration of […]
Pastor Lindsey Williams – At Bio Care Hospital – Getting Over COVID
This is part 11 of a series of 12 informative videos on how to cope with all the damage COVID brings. Where Pastor Lindsey Williams interviews Rodrigo Rodriguez, MD, founder of BioCare Hospital and Wellness Center. Call BioCare Now: 1-800-262-0212 Website: International BioCare Hospital and Wellness Center Pastor Lindsey Williams Hi, this is Lindsey Williams. […]
Pastor Lindsey Williams – At Bio Care Hospital – COVID and Supplements
This is part 10 of a series of 12 informative videos on how to cope with all the damage COVID brings. Where Pastor Lindsey Williams interviews Rodrigo Rodriguez, MD, founder of BioCare Hospital and Wellness Center. Call BioCare Now: 1-800-262-0212 Website: International BioCare Hospital and Wellness Center Pastor Lindsey Williams Hi, this is Lindsey Williams. […]