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Latest News Articles – November 24, 2016

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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Lindsey Williams - Latest News Articles

Latest News From November 18, 2016 to November 24, 2016:

  • We Are Being Set Up For Higher Interest Rates, A Major Recession And A Giant Stock Market Crash
    Since Donald Trump’s victory on election night we have seen the worst bond crash in 15 years.  Global bond investors have seen trillions of dollars of wealth wiped out since November 8th, and analysts are warning of another tough week ahead.  The general consensus in the investing community is that a Trump administration will mean much higher inflation, and as a result investors are already starting to demand higher interest rates.  Unfortunately for all of us, history has shown that higher interest rates always cause an economic slowdown.  And this makes perfect sense, because economic activity naturally slows down when it becomes more expensive to borrow money.  The Obama administration had already set up the next president for a major recession anyway, but now this bond crash threatens to bring it on sooner rather than later.
  • John Bolton Warns That Obama May Divide The Land Of Israel At The UN Before The Inauguration
    Is Barack Obama about to make the most catastrophic decision of his entire presidency? Former UN Ambassador John Bolton is warning that there is “a lot of speculation” over at UN headquarters right now about “resolutions that recognize a Palestinian state or that try and set a boundary for Israel based on the 1967 ceasefire lines”. Of course this would have to happen before the inauguration of Donald Trump on January 20th, because Trump has already made it quite clear that he will not support any UN resolution of such nature. Knowing that Trump is about to take office, advocates of the “two state solution” are putting an immense amount of pressure on Obama to support a UN Security Council resolution that would permanently divide the land of Israel while he is still in the White House, and at this moment we do not know what Barack Obama’s final decision will be.
  • US Pension Crisis: This is How Families Get Squeezed to Bail Out Pension Funds in Chicago
    Chicago is another trailblazer. But it’s not alone. Other cities are lining up behind it. Bankruptcy may still be the route to go. But until then, homeowners, renters, drivers, users of phones, etc. – in other words regular families who’re just sitting ducks – are going to get squeezed dry, in order to slow the momentum of the public-employee pension crisis eating up the city’s and the school district’s finances. “Because of a new accounting rule, Chicago now has to report its pension debt on its balance sheet,” explains Truth in Accounting. “As a result, the city’s reported pension debt grew from $8.6 billion in 2014 to $33.8 billion in 2015.”
  • What’ll Happen to Housing Bubble 2 as Mortgage Rates Jump?
    In the few days since the election, we got a flavor of what might happen when the bond market sees hues of inflation, expects the Fed to respond, and suddenly (after years of closing its eyes to it) dreads a tsunami of government deficit spending, on top of the flood of deficit spending already washing over the land. The US government borrowed on average $850 billion per year over the last two fiscal years, in total $1.71 trillion. Very soon, the gross national debt will hit $20 trillion. And with a little help from the next administration’s plans, the annual new debt to be issued by the US government could balloon far beyond $1 trillion a year.
  • Who’ll Get Hit by Fallout from the $11-Trillion Commercial Property Bubble in the US?
    Warnings about the loans, bonds, and commercial-mortgage-backed securities (CMBS) tied to the vast $11-trillion commercial property sector in the US have been hailing down for months. Moody’s Investor Services just warned about the rising delinquency rate of some $360 billion in CMBS it rates. Delinquencies of 60+ days jumped from 4.6% last year to 5.6% in September. Fitch Ratings has been fretting about valuations in the sector, and CMBS, for months. “Valuation and lending trends are not sustainable in the medium term,” it said most recently in its November report. It pinpointed debt backed by apartment buildings as a particular trouble spot. But now it’s also fretting about construction loans, which “experienced the highest loss severity in the last crisis, and we expect a similar trend in the next downturn,” it said.
  • Jim Rickards Discusses Looming Shut Down of the Entire US Economy
    In the following interview, legendary investor Jim Rickards echoes almost verbatim what Peter Schiff and Michael Snyder said recently in a post titled, Peter Schiff: Making America Great Again Will Be Much Harder Than Voters Think. In just a few short minutes, Jim confirms what myself and so many others have been trying to warn our readers about for well over a year now, which is that collapse of the global economic system is imminent. To put things in perspective, consider the fact that Deutsche Bank's derivative exposure alone, is more than 3x the continent of Europe's annual GDP, and that's just one bank.
  • Now it Begins to Unravel – The Credit Bubble Peak was Marked by “Totally Crazy Lending.”
    Debt is good. More debt is better. Funding consumer spending with debt is even better – that’s what economists have been preaching – because the consumed goods and services are gone after having been added to GDP, while the debt, which GDP ignores, remains until it is paid off with future earnings, or until it blows up. Corporations too have gone on a borrowing binge. Unlike consumers, they have no intention of paying off their debts. They issue new debt and use the proceeds to pay off maturing debts. Funding share-buybacks and dividends with debt is ideal. It’s called “unlocking value.” Debt must always grow. For that purpose, the Fed has manipulated interest rates to rock bottom. Actually paying off and reducing debt has the dreadful moniker, bandied about during the Financial Crisis, “deleveraging.” It’s synonymous with “The End of the World.”
  • 2017 Predictions for MSM, Markets and Gold-Gerald Celente
    Top trends researcher Gerald Celente started forecasting back in May 2016 that Trump would win. He was spot-on. What are the big trends and predictions in store for 2017? Mr. Celente gives us three of his top predictions coming up in this interview. We start with the mainstream media (MSM) that went all in for Hillary Clinton with actions associated with propaganda and not news. What’s going to happen to the MSM in 2017? Celente, who is Publisher of The Trends Journal, says, “It’s gone, and that is the top story coming out in the next Trends Journal too. . . . We are forecasting that this is the end of daily newspapers. They’ll go down to a couple of days a week. The flipside is more people to USAWatchdog.com and other media. We are not alternative media. They are the alternative media. They are the media that only promotes the establishment. The establishment is Hollywood to the White House to the media, and the people are disgusted with it. This is bigger than a populist movement.”
  • Self-driving car startup nuTonomy will begin testing its cars in Boston soon
    NuTonomy, a self-driving car startup spun out of MIT and based in Cambridge, Mass., will soon begin testing its autonomous vehicles in Boston. The company, which launched a commercial self-driving pilot in Singapore in August, has been given permission to operate its vehicles in the city’s Raymond L. Flynn Marine Park. NuTonomy, which also recently forged a partnership with Southeast Asia’s homegrown ride-hail player Grab, is moving relatively quickly toward its goal of launching a full-fledged on-demand network of self-driving cars in Singapore by 2018. (We rode in the self-driving car that is now operating in Singapore’s business district.)
  • FOMC Minutes Confirm Rate Hike Imminent “To Preserve Credibility”
    A lot has changed since the November 2nd FOMC statement – most notably the world has suddently become awesome again. The relatively benign statement (and election result) has left rate-hike odds at 100% for December but comment from Fischer and Yellen since have hinted concerns at the need for Trump fiscal spendfest. The main risk going in to the minutes was a dovish tilt for the future, tamping the current ‘nothing can stop us now' attitude (and we note the dollar leaked lower into the release). But sure enough, The Fed confirmed a rate-hike was approrpoate “relatively soon” and was “important to Fed credibility.”
  • Dallas Mayor Admits Police Pension Pushing City Toward “Fan Blades Of Municipal Bankruptcy”
    A few months ago we wrote that the Dallas Police and Fire Pension Fund was on the verge of collapse after a series of shady real estate investments resulted in massive markdowns of pension assets, the ouster of the fund's CIO and an FBI raid of it's largest real estate investment manager (see “Dallas Cops' Pension Fund Nears Insolvency In Wake Of Shady Real Estate Deals, FBI Raid”).  We summed up the fund's dilemma as follows: ‘The Dallas Police & Fire Pension (DPFP), which covers nearly 10,000 police and firefighters, is on the verge of collapse as its board and the City of Dallas struggle to pitch benefit cuts to save the plan from complete failure.  According the the National Real Estate Investor, DPFP was once applauded for it's “diverse investment portfolio” but turns out it may have all been a fraud as the pension's former real estate investment manager, CDK Realty Advisors, was raided by the FBI in April 2016 and the fund was subsequently forced to mark down their entire real estate book by 32%.  Guess it's pretty easy to generate good returns if you manage a book of illiquid assets that can be marked at your “discretion”.'
  • Obama Says He's Had A Scandal-Free Administration. Here Are 11 of His Scandals.
    President Barack Obama—who isn't going away after he leaves office—just unleashed this massive whopper: “I'm extremely proud of the fact that over 8 years we have not had the kinds of scandals that have plagued other administrations.” This is demonstrably false. Obama's presidency has been mired with numerous scandals that would be blared on the news 24/7 if he were a Republican. But because he's a Democrat, too many people buy Obama's argument that his presidency has been scandal-free.
  • Goldman Sachs Drops Out of R3 Blockchain Group
    Goldman Sachs Group Inc. has dropped out of the R3 CEV LLC blockchain group. The investment bank was one of nine original members of R3, founded in 2014 to explore the use of the distributed database technology in Wall Street infrastructure. The technology, best known for underpinning the system that trades the virtual currency bitcoin, has garnered increasing attention as a way banks can save billions of dollars and make old-fashioned processes faster and more efficient. But not all blockchain firms are the same, with different banks backing different ventures to exploit the technology. As of Oct. 31, Goldman let its membership lapse in R3, one of the higher profile efforts, but the firm will continue to work with blockchain technology, a spokeswoman for the investment bank said.
  • The Big Short: is the next financial crisis on its way?
    In the Oscar-winning The Big Short, Steve Carell plays the angry Wall Street outsider who predicts (and hugely profits from) the great financial crash of 2007-08. He sees sub-prime mortgages rated triple-A but which, in reality, are junk – and bets billions against the banks holding them. In real life he is Steve Eisman, he is still on Wall Street, and he is still shorting stocks he thinks are going to plummet. And while he’s tight-lipped about which ones (unless you have $1m to spare for him to manage) it is evident he has one major target in mind: continental Europe’s banks – and Italy’s are probably the worst. Why Italy? Because, he says, the banks there are stuffed with “non-performing loans” (NPLs). That’s jargon for loans handed out to companies and households where the borrower has fallen behind with repayments, or is barely paying at all. But the Italian banks have not written off these loans as duds, he says. Instead, billions upon billions are still on the books, written down as worth about 45% to 50% of their original value.
  • Initial Jobless Claims Collapse To Lowest In 43 Years – The US Economy Fell Into Recession Immediately After
    After an ugly October, November has seen two straight weeks of improvements in initial jobless claims (plunging 11.6%, 31k – the most since Jan 2015 – to 235k). This is the lowest initial jobless claims since Nov 1973… The US Economy fell into recession the next month.
  • UN recommits to combating climate change
    Approximately 200 nations on Thursday reaffirmed their commitment to combating climate change enshrined by the Paris Agreement at the annual UN climate conference in Morocco.
    This came amid fears that the incoming US administration would backtrack on the deal. A “Marrakesh Action Proclamation” issued at the conference called on member states to boost funding for projects to cope with the effects of climate change. “We call for the highest political commitment to combat climate change, as a matter of urgent priority,” the statement read.
  • Cash Crisis in India Hitting Gold Sales Hard
    The domestic gold market in India is facing an upheaval as traders place an increasing number of bulk, short-term orders on fears Prime Minister Narendra Modi could seriously throttle overseas imports of gold. The traders’ fears stem from Modi’s plan to eliminate so-called black money from India’s monetary system by demonetizing the 500 and 1,000 rupee notes. The bills were previously the country’s largest currency denomination. Modi’s hard-line demonetization efforts are meant to root out untaxed funds held in secret by Indian citizens. It’s estimated up to a third of the country’s annual demand (1,000 tons of gold) is paid for with black money. The intent of demonetization was to cut down on corruption by targeting Indians holding “large amounts of undeclared wealth to deposit the money at banks and make their assets official,” according to the L.A. Times.
  • U.S. economy is running below potential, Chicago Fed gauge shows
    A measure of national economic activity improved in October but its less-volatile, three-month average weakened, according to the Chicago Federal Reserve on Monday — one sign that below-potential economic growth could limit Fed aggressiveness with interest-rate hikes. The Chicago Fed national activity index rose to negative 0.08 in October from negative 0.23 in September as factory production, housing and consumer spending, as well as the business orders that make up the index mostly improved; employment had a neutral effect. The October reading still shows U.S. economic growth running below its potential.
  • The “Trump Effect” Now Versus Later
    Peter Schiff recently appeared on Alternative Media Television (AMTV) to discuss the so-called “Trump effect” on the US economy. So far, the stock market has gone through some downs after the president-elect’s surprise win and now back up with the Dow Jones average nearing record highs. There’s also been last week’s bond rout, which sent long-term yields soaring as bond prices dropped. The yield on the 10-Year Treasury saw its largest two-week increase since 2001, up 5.9 basis points to 2.337%. The selloff was driven by “rising inflation expectations and the market’s near-certainty that the Federal Reserve will raise interest rates in December,” according to MarketWatch.
  • Trump Says He Will Issue Executive Order On First Day In Office Withdrawing U.S. From TPP
    In a video message released moments ago by Donald Trump, the President-Elect announced that he has asked his team to develop a list of executive actions for his first day as president and announced that he would issue an executive order on his first day of office, withdrawing the US from the Trans Pacific Partnership, and would issue a notification of intent to withdraw from the TPP, voiding Obama's “free-trade legacy.” Trump stated that his agenda “will be based on a simple core principle, putting America first… whether it's producing steel, building cars, or curing disease, I want the next generation of production and innovation to happen right her on our great homeland.” He added that he would issue a rule, along the lines of what he proposed during his Gettysburg address, that for every new government regulation, two existing regulations must be eliminated, and said that he will direct the labor department to investigate abuses of visa programs.
  • Former CEO Of UBS And Credit Suisse: “Central Banks Are Past The Point Of No Return, It Will All End In A Crash”
    Remember when bashing central banks and predicting financial collapse as a result of monetary manipulation and intervention was considered “fake news” within the “serious” financial community, disseminated by fringe blogs? Good times. In an interview with Swiss Sonntags Blick titled appropriately enough “A Recession Is Sometimes Necessary”, the former CEO of UBS and Credit Suisse, Oswald Grübel, lashed out by criticizing the growing strength of central banks and their ‘supremacy over the markets and other banks’. The former chief executive officer claimed that the use of negative interest rates and huge positive balance sheets represent ‘weapons of mass destruction’. He calls for an end to the use of negative interest rates.
  • ‘First Brexit, Then Trump and There is More of This to Come!'
    Hailing 2016 the year of ‘two big political revolutions’ Nigel Farage said Angela Merkel and Barack Obama are ‘in denial’ over the public’s rejection of the political establishment. Speaking on Fox News, the UKIP leader said Obama and the German Chancellor ‘simply can’t face up to the fact that their worldview has taken an absolute beating in the year of 2016′. He has taken to social media to call 2016 ‘the year of political revolution’ and the ‘underdog’ with the Brexit vote in the UK and the election of Donald Trump in America.
  • Smoking gun emails reveal Blair's ‘deal in blood' with George Bush over Iraq war was forged a YEAR before the invasion had even started
    A bombshell White House memo has revealed for the first time details of the ‘deal in blood’ forged by Tony Blair and George Bush over the Iraq War. The sensational leak shows that Blair had given an unqualified pledge to sign up to the conflict a year before the invasion started. It flies in the face of the Prime Minister’s public claims at the time that he was seeking a diplomatic solution to the crisis. He told voters: ‘We’re not proposing military action’ – in direct contrast to what the secret email now reveals.
  • The 1% plotting to halt Brexit & bring back Tony Blair, leaked memo suggests
    Blairite millionaires, politicians and media tycoons are reportedly plotting to stop Brexit in its tracks, a leaked memo suggests. Virgin Group chief Sir Richard Branson is apparently bankrolling the scheme. A memo leaked to the Independent suggests the plot has been underway for months, with financial backing secured and a potential CEO for the group identified. The newspaper claims the information was found in an email penned by Tony Blair’s former health secretary and right-hand man Alan Milburn.
  • Blair is back! Former PM announces he is ‘returning to British politics' because the Tories are ‘screwing up Brexit and Jeremy Corbyn is a nutter' as he prepares to meet with Theresa May
    Tony Blair is hunting for a new office near Westminster as he plots a return to frontline politics to influence the Government's approach to Brexit. The former prime minister believes the Tories are ‘screwing up Brexit' and views Jeremy Corbyn is ‘a nutter,' according to a source who has spoken to Mr Blair. He thinks there's a ‘massive hole in British politics' that he can fill. Mr Blair is setting up a new institute that will seek to influence and advise the Brexit process.
  • This Is Where I Get Off
    We began writing on the War on Cash some time ago, when it was still just a theoretical ploy that we believed banks and governments were likely to employ as their economic adventurism continued to unravel. But, in the last year, several countries have, as a part of the War on Cash, begun removing larger bank notes from circulation in order to force people to perform all economic transactions through the banking system, ensuring that the banks would gain total control over the movement of money. Of course, the banks could not admit their true goal to the public. They instead used the governments to claim that the measure was being undertaken to restrict crime (money laundering, drug deals, black marketing, terrorism, etc.).
  • $100 Billion Chinese-Made City Near Singapore ‘Scares the Hell Out of Everybody'
    The landscaped lawns and flowering shrubs of Country Garden Holdings Co.’s huge property showroom in southern Malaysia end abruptly at a small wire fence. Beyond, a desert of dirt stretches into the distance, filled with cranes and piling towers that the Chinese developer is using to build a $100 billion city in the sea. While Chinese home buyers have sent prices soaring from Vancouver to Sydney, in this corner of Southeast Asia it’s China’s developers that are swamping the market, pushing prices lower with a glut of hundreds of thousands of new homes. They’re betting that the city of Johor Bahru, bordering Singapore, will eventually become the next Shenzhen.
  • Morocco wants to build a new city from scratch—with China’s help
    Morocco is working on a $10 billion project with the Chinese group Haite to develop an industrial city that will host some 300,000 locals. The project envisions a large Chinese-style industrial park on the edge of the Mediterranean, built on about 2,500 acres with room to expand up to nearly 5,000 acres. Morocco’s King Mohammed VI has been personally involved in the improvement in Moroccan-Chinese ties that preceded the deal. The King met with president Xi of China during an official visit to Beijing this year, which led to the signing of a strategic partnership.
  • Soros Army Forming Liberal Version Of Judicial Watch
    The latest efforts by George Soros to subvert President-elect Donald Trump involve taking a page out of the conservative playbook. Soros and his allies have reportedly discussed launching a liberal version of the government transparency group Judicial Watch, which Politico reports “spent much of the past eight years as a thorn in the Obama administration’s side filing legal petitions under the Freedom of Information Act.”
  • Obama and Angela Merkel Blame Internet and Social Media for Disrupting Globalism
    President Barack Obama and German Chancellor Angela Merkel are blaming the internet for disrupting the forces of globalism, suggesting that technology is making it more difficult to unite people behind a common purpose. “Because of the internet and communications, the clash of cultures is much more direct,” Obama said during a press conference on his trip to Berlin. “People feel, I think, less certain about their identity. Less certain about economic security.”
  • REVEALED: The Real Fake News List
    We've seen the make-shift “fake news” list created by a leftist feminist professor. Well, another fake news list has been revealed and this one holds a lot more water. This list contains the culprits who told us that Iraq had weapons of mass destruction and lied us into multiple bogus wars. These are the news sources that told us “if you like your doctor, you can keep your doctor.” They told us that Hillary Clinton had a 98% of winning the election. They tell us in a never-ending loop that “The economy is in great shape!”
  • Are You Prepared For The Unwinding Of The Biggest Bubble In History?
    With the Thanksgiving Day holiday on Thursday of this week, are you prepared for the unwinding of the biggest bubble in history? Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness:  I want to start the week by saying I believe ‘secular stagnation’ is bulls**t. As a believer in free trade and comparative advantage and thus with hopes that no trade battles take place in the next 4 years, I want to reiterate my optimism over the potential liberation of the US economy via lower and more competitive tax rates and an easing of the regulatory strait jacket all around the economy. This said, before we get to that economically better place (which we no doubt will I believe) I can’t help but be on alert about what the implications are of an unwinding of the biggest bubble ever created, that of credit via the helping hands of our central bankers…
  • EURO PLUNGE: Single currency could ‘COLLAPSE' against dollar amid record losing streak
    THE euro has plunged to its lowest level against the dollar since December 2015, as experts warned the currency could collapse next week amid concerns for the eurozone economy. Investors have frantically dumped the single currency over 10 consecutive trading sessions – the worst performance since the euro was introduced in 1999. Head of the European Central Bank (ECB) Mario Draghi failed to ease fears after warning that the eurozone recovery depends on action by monetary policymakers.
  • So Much For Electing An Outsider
    During his run for the presidency, Donald Trump took the occasional break from insulting women and minorities to toss off some decent – even exciting – policy ideas. Term limits for congressmen and a ban on politicians becoming lobbyists, for instance, were straight from the Libertarian good-government Christmas list. But best of all was the effective break-up of the big banks through the re-imposition of Glass-Steagall, a law passed during the Great Depression to separate taxpayer-protected commercial banks from free-to-fail investment banks.
  • Russia Deploys Nuclear Missiles In Retaliation To NATO “Threats”
    While the detente between Russia and US president-elect Donald Trump could not have come at a more tense time, the Kremlin appears to be accelerating its head-on collision course with NATO, and as a highly placed defense official said on Monday, Moscow will deploy S-400 surface-to-air missiles and nuclear-capable Iskander systems in the exclave of Kaliningrad in retaliation for NATO deployments, confirming previous media reports of Russian intentions to once again blanket central Europe with potential nuclear ICBM coverage. While Russia has previously said it periodically sends Iskanders to Kaliningrad, until now it has always said these were routine drills. Moscow has not linked the moves explicitly with what it says is a NATO military build-up on Russia's western borders.
  • Border Patrol union welcomes Trump's wall as ‘vital tool'
    The National Border Patrol Council has high hopes for President-elect Trump’s border security policies. The union’s president, Brandon Judd, has been advising the Trump transition team. The union has encouraged the building of a border wall and changing enforcement policies put in place in the past four years. San Diego-based Shawn Moran, vice president of the union, said a wall on the border would be a “vital tool,” and it’s difficult to say exactly where along the border a wall is needed.
  • More Electors Get Death Threats From Hillary Voters
    A member of the electoral commission in Texas says his colleagues are getting death threats as angry Hillary supporters ramp up the pressure before electors cast their vote on December 19th. Hillary voters around the country are bombarding electors with emails, some of them threatening, in an effort to force them to vote against the outcome of the presidential election. “At first everyone was kinda enchanted by it. Now all the electors are starting to get beaten down. There are some electors who have been threatened with harm or with death,” Texas elector Alex Kim told NBC 5.
  • European Union Orders British Press Not To Report when Terrorists Are Muslims
    This is the moment where hate speech laws become a greater threat to democracy and freedom of speech than hate speech itself. In France, Muslim terrorists are never Muslim terrorists, but “lunatics,” “maniacs” and “youths”. To attack freedom of the press and freedom of speech is not anti-hate speech; it is submission. By following these recommendations, the British government would place Muslim organizations in a kind of monopoly position: they would become the only source of information about themselves. It is the perfect totalitarian information order. Created to guard against the kind of xenophobic and anti-Semitic propaganda that gave rise to the Holocaust, national hate speech laws have increasingly been invoked to criminalize speech that is merely deemed insulting to one's race, ethnicity, religion, or nationality. It is disturbing to wonder how long the EU will strongly engage its experts and influence to cut through existing legal obstacles, in a quest to criminalize any type of criticism of Islam, and to submit to the values of jihad.
  • Trump Announces Policy Plans
    President-elect Donald J. Trump vowed in a YouTube video to focus on creating jobs and reducing regulations as soon as he takes office.
  • Jeff Sessions may prosecute ‘sanctuary cities’ if confirmed as attorney general
    Sen. Jeff Sessions is on record saying so-called “sanctuary cities” that protect illegal immigrants should be prosecuted. He himself may get that chance next year. Mr. Sessions is president-elect Donald Trump’s pick to be the next attorney general, and if he’s confirmed, he will mark a 180-degree turn from the Obama administration on a host of issues, but nowhere more so than on immigration, where he’s been the Senate’s leading crackdown proponent.
  • US Bond Market Liquidity Collapses: “It's Worse Than Brexit”
    Two weeks ago we warned of the “unintended consequences” of Dodd-Frank which are likely to crush bond market liquidity. On the day of Brexit we got a glimpse of what can happen when the world's most liquid bond market suddenly isn't and as one veteran bond trader exclaimed today, US Treasury market liquidity is “worse than Brexit.” Following the worst two-week loss for bonds… ever…
  • San Fran Home Sales Crash To Lowest Level Since 2008 As Pricing Reset Gets Underway
    We have frequently written over the past couple of quarters about the bubbly San Francisco housing market that looks set for another epic reversal as home prices have reached staggering new highs just as employment levels seem to be rolling over.  With home prices now implying that only 10-20% of residents can afford the “median” priced home, it's certainly not difficult to understand why demand may be waning. According to HousingWire and a new report from PropertyRadar, home sales in the Bay Area are finally starting to rollover with Q3 YTD volumes down 10.3% YoY, reflecting the fewest number of homes sold over that same time period since 2008.  Perhaps even more staggering is that distressed property sales fell 35.7% YoY so far in 2016, to the lowest level since 2001, as “low-priced” inventory dried up and buyers have found it financially impossible to move up to higher price tiers.
  • Demonetisation: Govt mulls limits on cash withdrawals, transactions for both individuals, companies 
    In the government's determined push against the parallel economy, the next step after the disruptive overnight ban on high value notes could be a cap on cash withdrawal, transactions and amounts that can be held by individuals and companies, people in the know said. Recently some senior tax officials and experts were asked their opinion about such a step. The senior government officials seeking feedback or opinion on the issue is one of the main reasons why industry trackers say that such a step could be in the offing, said two people who spoke to ET.
  • EU Army set to be agreed TODAY – and BRITAIN will foot the £420m-a-year bill
    THE EU will today ratify the creation of a continent wide super army that will be up and running next year – and blame BREXIT for its creation. Brussels politicians convened in the French city of Strasbourg to thrash out the plans that will cost taxpayers' £420m-a-year. They will vote on the issue to establish an “EU-wide system for the coordination of rapid movement of defence forces personnel” across Europe later today. If agreed Britain will not only be forced to foot the bill because it is timetabled for before the triggering of Article 50, but it will also be legally drawn into it.
  • Sweden leads the race to become cashless society
    In 1661, Stockholms Banco, the precursor to the Swedish central bank, issued Europe’s first banknotes, on thick watermarked paper bearing the bank’s seal and eight handwritten signatures. Last year – as Britain did last week – Sweden launched a new series of notes, cheery affairs featuring 20th-century Swedish cultural giants such as Astrid Lindgren, the creator of Pippi Longstocking, Greta Garbo and filmmaker Ingmar Bergman. But like its Nordic neighbours Norway, Denmark and Finland, Sweden is fast becoming an almost entirely cashless society.
  • Citibank is the first Australian bank to stop taking cash
    Up is down and down is up. We are now living in a bizarre era when a bank will refuse to take cash. Citibank Australia has become the first Australian bank to go completely cashless, notifying customers that its branches will no longer handle notes and coins from November 24. “We have seen a steady decline in the demand for cash services in our branches — in fact less than 4% of Citi customers have used this service in the last 12 months,” said Citibank head of retail bank Janine Copelin. “This move to cashless branches reflects Citi’s commitment to digital banking and we are investing in the channels our customers prefer to use.”
  • Speculators Are Finally Bailing Out Of Gold – And That’s A Good Thing
    All this talk of massive new infrastructure spending financed with a tsunami of freshly-minted currency should be lighting a fire under gold. That it hasn’t is a testament to how out-of-whack the precious metals market had gotten during the first six months of this year. As gold rose, the futures contract traders whose games tend to dictate near-term price action had set the metal up for a fall. Specifically, the speculators (who are always wrong at the extremes) were ridiculously long. With the suckers all-in, a big correction was needed to restore balance. But it didn’t come. Several months passed with gold treading water, leading some to wonder if the paper market tail had finally stopped wagging the physical market dog.
  • Globalists Will Crash Markets and Blame it on Trump-Rob Kirby
    Macroeconomic analyst Rob Kirby explains the violent moves in the markets by saying, “We really do not have markets anymore. We have interventions, and we have massive fraud committed on a daily basis in what we call our capital markets. Our capital markets have become nothing more than a crime scene.” Look no further than the gold market on election night. The stock market was 800 points down in the red, and gold was way up in the black.  All that reversed in a matter of a few days.  How did the powers pull off a stunning reversal, especially with the skyrocketing price of gold?  Kirby says, “It was roughly 8,000 metric tons from late election night through Friday.  It’s up in the area of three years of global production in the paper markets in the space of three days.”
  • Trump won the popular vote?
    Based on reports in mainstream media, Hillary Clinton won the popular vote for President. The facts, however, indicate otherwise. Before getting into that, we should consider why that is important. The answer is that most people think that whoever gets the most votes is supposed to be the winner. The Constitution, on the other hand, says otherwise. When the Constitution was written, it was understood that the federal government was beholden to the states that created it, not to the general citizenry. Voters chose their state representatives, but the states chose the Senators and the President.
  • At This Current Pace, A Record-Shattering 2.4 Trillion Dollars Will Be Added To The National Debt This Year
    Barack Obama is about to become the 20 trillion dollar man. With less than two months to go in his second term, the U.S. national debt stands less than 150 billion dollars away from the 20 trillion dollar mark. And at the pace that the debt is increasing, it seems almost certain that we will cross 20 trillion dollars before Inauguration Day. After promising us that “deficits are under control”, the federal debt jumped by more than 1.3 trillion dollars last fiscal year, and so far this year it is on pace to rise by a record-shattering 2.4 trillion dollars. This is a recipe for national suicide, and yet it wasn’t even a major issue during the recently concluded presidential campaign. It is really, really hard to spend a trillion dollars. For example, if you were alive when Jesus was born and you had spent a million dollars every single day since that time, you still would not have spent a trillion dollars by now (From year 0 to 2016 at $1m per day is just under $736Bn).
  • Why We Are Still In ‘The Danger Zone’ Until January 20th, 2017
    Donald Trump is not the president yet, and Barack Obama could still do an extraordinary amount of damage during his last two months in the White House.  Prior to the election, I described the period of time ending on January 20th as “the danger zone”, and my outlook has not changed just because Donald Trump was victorious on election night.  As you will see, the next two months are an absolutely critical time, and if we can get through January 20th without something major happening perhaps we can breathe a little bit easier (at least for a while).  On the other hand, the events of the next two months could easily plunge this country into a period of unprecedented chaos.  A lot of people are feeling really good about things right now because of Trump’s victory, but now is definitely not a time to relax and let down our guard.
  • The Drought That Was Prophesied To Hit The Southern United States Is Now Here
    A record-setting drought has gripped the southern United States, but most people have no idea that this drought is the fulfillment of a prophecy that was given four years ago. Back in 2008, John Paul Jackson released a DVD entitled “The Perfect Storm” in which he detailed many of the prophetic events that God showed him would soon come to America. In 2012, he released a video update to “The Perfect Storm” that you can view on YouTube right here. In that update, he shared a list of future headlines that God had revealed to him over the years. Some of these headlines have already happened since that time, and now we are watching another be fulfilled right in front of our eyes. Specifically, I am referring to this headline: “Record High Temps Accompany Record Drought Swept South”.
  • What Donald Trump Just Did Is Going To Have Social Conservatives In A State Of Complete Shock
    This is NOT what most social conservatives were expecting. Like millions of other Americans, I greatly celebrated when Donald Trump pulled off a miracle on election night. But within a week of his stunning election victory, many social conservatives already feel like they are being stabbed in the back. On Sunday, 60 Minutes aired a post-election interview with Trump in which he explained that his stance on gay marriage is that it is “settled” and that he has no plans to try to overturn the Supreme Court decision legalizing it. According to CNN, this answer “could leave conservatives worried”…
  • 11 Very Depressing Economic Realities That Donald Trump Will Inherit From Barack Obama
    It would be a grave mistake to understate the amount of damage that has been done to the U.S. economy over the past eight years.  In this article, I am going to share some economic numbers with you that are extremely sobering.  Anyone that takes a cold, hard, honest look at the numbers should be able to see that our economy is in terrible shape.  Unfortunately, the way that we see things is often clouded by our political views.  Up until the election, Democrats were far more likely then Republicans to believe that the economy was improving, but now that is in the process of completely reversing.  According to Gallup, only 16 percent of Republicans believed that the economy was getting better before the election, but that number has suddenly jumped to 49 percent after Trump’s election victory.  And the percentage of Democrats that believe that the economy is getting better fell from 61 percent to 46 percent after the election.
  • The Election Of Donald Trump Is Already Having An Enormous Impact On The Economy
    The election of Donald Trump has sent shockwaves through the U.S. economy and the U.S. financial system.  Since November 8th, the Dow has hit a brand new all-time record high, the U.S. dollar has strengthened greatly, and bank stocks are way up.  But not all of the economic news is good news.  Unlike stocks, bonds have reacted very negatively to Trump’s election victory.  The past week has been an absolute bloodbath for bond traders, and as you will see below this is going to have dramatic implications for all U.S. consumers moving forward. Over just a two day period, more than a trillion dollars was wiped out as bond yields spiked all over the globe.  As CNN has noted, this type of “violent reaction” in the bond market has only happened three other times within the past ten years…
  • Britain has passed the ‘most extreme surveillance law ever passed in a democracy'
    It's 2016 going on 1984. The UK has just passed a massive expansion in surveillance powers, which critics have called “terrifying” and “dangerous”. The new law, dubbed the “snoopers' charter”, was introduced by then-home secretary Theresa May in 2012, and took two attempts to get passed into law following breakdowns in the previous coalition government. Four years and a general election later — May is now prime minister — the bill was finalized and passed on Wednesday by both parliamentary houses. But civil liberties groups have long criticized the bill, with some arguing that the law will let the UK government “document everything we do online”.
  • Ron Paul: Warning to Trump — “Shadow Government” Will Infiltrate Your Cabinet
    Dr. Ron Paul appeared in an RT interview speaking about Donald Trump’s election. He made some curious statements about “neocons” and an infiltration by a “shadow government,” and her warned Trump about placing neoconservatives in his cabinet. Trump is currently considering neocons for at least 5 of his cabinet positions. Many of them have links to Wall Street, specifically Goldman Sachs, and almost all of them are members of the Council on Foreign Relations, whose honorary chairman is David Rockefeller.
  • VW cuts 30,000 jobs in emission scandal fallout
    Volkswagen (VW) is to cut its workforce by 30,000 over the next five years as it acts to save costs following the diesel emissions scandal. The German carmaker said it was committed to no compulsory redundancies under the union deal, with 23,000 of the positions to go at factories in its home market and the rest in North America and Brazil. VW said the job losses were “socially acceptable” as it prepared to relaunch the brand by 2020 – tainted by the rollout of software in 11 million diesel vehicles that was designed to cheat emission testing.
  • Two-Thirds Of Workers In Developing Nations To Be Replaced by Robots, Report Warns
    An alarming new report from the United Nations is the latest in a litany of studies suggesting that the coming age of automation and workforces dominated by robots will be upon us much faster than previously thought. The U.N. now claims two-thirds of the human labor force in developing nations will be replaced by automation. The U.N. says a Universal Basic Income will be necessary as a stop-gap for the 75% of humans left without work. Anti-Media previously reported on predictions that half the American workforce could be replaced by automation within the next two decades. Another report’s statistics suggested automated software could fleece 1.7 million truckers of their jobs within a decade. The U.N.’s UNCTAD report notes that taken on a global scale, we’re seeing“premature deindustrialization.”
  • Silver Prices May Rise with Infrastructure Projects
    The president of the United Auto Workers said he will sit down and talk with President-Elect Trump to try and crush the North American Free Trade Agreement, describing NAFTA was “a problem.”  The union of auto workers is an early advocate for working with Trump to change trade agreements seen as being detrimental to American workers. Other industry organizations are likely to ally themselves with the future president, who made trade a cornerstone of his campaign promise to “Make America Great Again.”
  • Chelsea Clinton reportedly being groomed for congressional run
    Former first daughter Chelsea Clinton reportedly is being mooted as a future congressional candidate. The New York Post reported that Clinton, 36, is being eyed to take Rep. Nita Lowey's place when the 79-year-old incumbent decides to leave the House of Representatives.  Lowey represents New York's 17th District, which covers part of Westchester County, including Bill and Hillary Clinton's hometown of Chappaqua. The Post reported that the Clintons have purchased the home next door to theirs, in which they plan to install Chelsea, her husband and their two children.
  • Donald Trump Boosts Europe's Anti-Establishment Movement
    Donald Trump's electoral victory has come as a shock to Europe's political and media establishment, which fears that the political sea change underway in the United States will energize populist parties in Europe. Anti-establishment politicians, many of whom are polling well in a number of upcoming European elections, are hoping Trump's rise will inspire European voters to turn out to vote for them in record numbers. Commenting on Trump's victory, Dutch lawmaker Geert Wilders, wrote: “America has just liberated itself from political correctness. The American people expressed their desire to remain a free and democratic people. Now it is time for Europe. We can and will do the same!”
  • China fires its first warning shot, warning iPhone sales will suffer if Trump starts a trade war
    Apple iPhones and other U.S. goods could suffer sales hits in China if President-elect Donald Trump goes through with his “naive” plan of slapping a large import tariff on Chinese products, a state-backed newspaper warned on Sunday. During his election campaign this year, Trump spoke of a 45 percent import tariff on all Chinese goods while failing to outline how it would work. Should any such policy come into effect, China will take a “tit-for-tat approach”, according to an opinion piece in the Global Times, a newspaper backed by the Communist party.
  • Trump Prepares To Label Muslim Brotherhood A ‘Terror Organization’
    Last November, Sen. Ted Cruz (R-TX) co-sponsored legislation along with Rep. Mario Diaz-Balart (R-Fla.) demanding that President Obama label the Muslim Brotherhood an official foreign terrorist organization. The Muslim Brotherhood Terrorist Designation Act prefaces its conclusions with comprehensive research and historical precedent. “Multiple countries have declared the Society of the Muslim Brothers (commonly known as the  ‘‘Muslim Brotherhood’’) a terrorist organization or proscribed the group from operating in their countries,” begins the bill. The bill didn’t make it through the winding roads of bureaucracy as a result of the Obama administration’s apparent sympathies for the Islamist group, but now, President-elect Donald Trump’s advisors are vowing to push through that same piece of legislation when the Republican victor assumes the oath of office in January.
  • As Venezuela's Currency Loses 40% In One Month, Maduro Dances
    The last time we updated on the value – we use the term very loosely in this case – of the Venezuela currency, the Bolivar in the black market, was at the start of November, when one US dollar purchased 1,567 bolivars in the street. Fast forward not even two full weeks later, and the Venezuela currency has now officially crossed the “nice, round number” psychological hyperinflation barrier of 2,000/USD, trading at 2,014 today, crashing by 22% since our last check, and an vomit-inducing 43% in the past month. The exponentially-rising chart below shows what hyperinflation in a destroyed socialist economy looks like.
  • Two-thirds of the world's internet users live under government censorship: report
    Two-thirds of the world's internet users live under regimes of government censorship, according to a report released today. The report from Freedom House, a pro-democracy think tank, finds that internet freedom across the globe declined for a sixth consecutive year in 2016, as governments cracked down on social media services and messaging apps. The findings are based on an analysis of web freedom in 65 countries, covering 88 percent of the world's online population. Freedom House ranked China as the worst abuser of internet freedom for the second consecutive year, followed by Syria and Iran. (The report does not include North Korea.) Online freedom in the US increased slightly over the year due to the USA Freedom Act, which limits the bulk collection of metadata carried out by the National Security Agency (NSA) and other intelligence agencies.
  • Online ‘Freedom' Plunges For 6th Straight Year As Social Media Censorship Grows
    Internet freedom has declined for the sixth consecutive year, with more governments than ever before targeting social media and communication apps as a means of halting the rapid dissemination of information, particularly during anti-government protests. According to the latest Freedom on the Net reports, two-thirds of all internet users live in countries where criticism of the government, military, or ruling family are subject to censorship.
  • All Eyes On Argentina As Lithium Boom Takes Shape
    Lithium is poised to be the longest-running mining bull market of the century, and independent, junior minors like Millennial Lithium Corp. are having their stocks pushed higher and higher as this market gets ready to explode under a soaring demand and tight supply situation. The disruptive force of lithium in the energy market is unprecedented, with prices tripling this year and the fantastically tight supply prognoses promising explosive profits for new entrants. And the global ground zero is lithium-rich Argentina, where massive resources have combined with a new business-friendly political atmosphere to create a situation in which everyone is talking about a lithium cartel, and the rise of the next energy barons.
  • China: Trump's First Crisis?
    There is a growing possibility that China will be at the epicentre of President-elect Trump’s first crisis, triggered by concerns over the potential impact of protectionist measures on China’s trade surplus, which currently supports the increasingly fragile financing chains supporting corporate debt that the IMF estimates at around 155% of GDP. Trump’s pledges to impose tariffs of up to 45% on Chinese manufactured goods threatens to drive a significant uptick in the amount of capital flight from the renminbi, while the prospect of measures to change the US tax system to encourage companies to repatriate cash to the are already pulling the dollar higher. At this point the likelihood of Trump actually delivering on his protectionist rhetoric is secondary to the psychological impact on resident corporate and household savers of any potential threat to the current uneasy equilibrium within the Chinese economy.
  • Wall Or No Wall: Trump Needs The Mexican Oil Industry
    Two of Donald Trump’s main pledges during the presidential race were building a wall along the border with Mexico, and making the U.S. energy-independent. Now that the election is over, these issues are coming to the fore. First, the president-elect said that the wall, which he mentioned on the campaign trail and in numerous debates, is still very much on the table, though what type of “wall” that may be is an unknow. Second, he said he planned to start deporting illegal aliens—those with criminal records—which could amount to as many as three million individuals. Despite “The Wall”, the deportation of Mexican citizens, and several grandiose comments about Mexico paying for said wall—not to mention Trump’s proclamation that he would raise import tariffs up to 35 percent on some Mexican products—Mexico’s President Enrique Pena Nieto was among the first of the world leaders to congratulate Trump on his victory.
  • Pastor Lindsey Williams introduces Pastor David Bowen – November 17, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
  • Will Your Energy Bill Get More Or Less Expensive Under Pres. Trump? 
    Environmentalists are panicking that President-elect Donald Trump will trigger an energy jobs disaster by cutting green subsidies, but David Holt, president of the Consumer Energy Alliance, thinks exactly the opposite. Green media is positively panicking that Trump’s cuts could literally end all life on Earth and cause a hypothetical jobs crisis by destroying the green energy industry. Conversely, Trump appears to be very supportive of industries that slash carbon dioxide (CO2) emissions while creating jobs.
  • Will Trump Do What Reagan Couldn’t?
    Finally, it’s over. We were both delighted and appalled by the news. A smile spread over our face… and our steps lightened… as we looked ahead to four years without Hillary Clinton’s know-it-all mug in the news. But our shoulders stooped, too, as we listened to Donald Trump’s victory announcement. As we predicted, Americans got the president they deserved. Now, “no dream is too big.” No nightmare is out of bounds, either. Dow futures fell as much as 800 points as news spread and investors thought the end of the world had come [that didn’t last long, ed.]. But here at the Diary, we were serene. We had mocked both candidates and mooned the sacred rite of democracy – the election itself. Why?
Continue Reading

Latest News Articles – November 17, 2016

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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Lindsey Williams - Latest News Articles

Latest News From November 10, 2016 to November 17, 2016:

  • James Turk – What Donald Trump Faces Is Very Different From What Ronald Reagan Faced, Expect Major Market Moves…
    As we kick off the third week of trading in November, today James Turk spoke with King World News about why what Donald Trump faces is very different from what Ronald Reagan face, but here is the good news… James Turk:  “Congratulations to Mr Trump. If his presidency is as remarkable as his election, Eric, he could go down in history as a great president. I expect that a lot of things will change because of Trump. That’s what voters want…
  • A professor has made a list of websites she says publish ‘fake' or ‘misleading' news
    On Monday, Google and Facebook announced measures to ban fake news websites from using their advertising networks. Previous attempts by Google AdSense and Facebook Audience Network saw the companies ban sites that “misrepresent, misstate or conceal information”. However the proliferation of fake news during the US elections, some argued, swayed votes towards Donald Trump and prompted the social media platform and giant search engine into changing their policies.
  • Trump’s Victory: A Historical Upset
    I have to admit it. I fully did NOT expect Donald Trump to become the 45th President of the United States of America. All of the odds were against him: He was underfunded compared to Hillary’s money machine; Nearly every media source was openly against him; Not one major celebrity came out to support him; He was labbeled a racist and a misogynist; All leading figures of his own party abandoned him; Much of his policies were in direct opposition with the aims of the globalist elite; Robert DeNiro said he wanted to punch him in the face.
  • Facebook, Google announce new policies to fight fake news
    Two of the world’s biggest internet companies, Google and Facebook, are taking new steps to fight the rising tide of fake news — in other words, conspiracy theories and misleading information from no-name sites masquerading as news— that exploded on their platforms during this campaign cycle. The problem has grown to the point that it is now too big to ignore. Both companies have come under fire for widely-shared fake news stories that spread false information about the candidates. In a move disclosed Monday, Google said it will withhold lucrative digital ads from appearing on any sites that “misrepresent, misstate, or conceal information.” The new policy could give news and information sites greater incentive to avoid false headlines or risk losing revenue.
  • Here’s Where Trillions of Investor Dollars Went After Trump’s Big Win
    We expected the Super Shemitah/Jubilee time period (which officially ends on November 20th with the end of the Catholic Jubilee) to be one of dramatic change and chaos. And, did we ever get it! Since the beginning of the Jubilee year, in October of last year, two massive events have happened.  Brexit and Trump. Both were completely unexpected by most. Brexit saw the worst day in worldwide stock markets in history the day after the vote. And, interestingly, Dow futures were down 777 points at one point as it became clear Trump had won the “selection.”  But, then the markets had a massive rebound the next day.
  • Legend Art Cashin On A Trump Presidency, The New World Order, Gold, Brexit, The Great Depression And Why We Will See Panic
    As the bond market continues to melt down, interest rates rise and the Dollar Index surges above 100, legend Art Cashin gave one of his most important interviews ever to King World News about a Trump presidency, the New World Order, gold, Brexit, the Great Depression, and why we will see panic before the end of the year. Eric King:  “In Trump’s acceptance speech he said that we are going to have massive infrastructure spending.  Is that bearish for gold?  I don’t think so.”
  • This Wasn’t A Vote, It Was An Uprising
    The article below has come to me. I am unable to ascertain if it is a published statement or one of those items sent around the Internet. Nevertheless, I do believe that it captures the attitude of those Americans who in the vast majority of the states gave their vote to Donald Trump. The optimism expessed in the article might be unrealistic. In order to prevail over the Oligarchy, President Trump will need a government as strong as he appears to be. He cannot find the strength he needs for his government among the usual Washington, Wall Street, and corporate sources. If he selects from these people, he will be impotent. The question is: who is his transition team? Are they focused on making nice with the Oligachs? If so, there will be no change.
  • Dow’s Trump-Fueled Surge is Difficult to Explain
    From David Fabian: It feels like we have almost packed a full year’s worth of stock market price action into just the last two weeks.  With so many diverging market sectors and overall fluctuations, I thought it would be prudent to do an examination of some key charts. Taking a closer look at these categories can help frame macro views as well as determine areas of strength and weakness.
  • Here’s Where Trillions of Investor Dollars Went After Trump’s Big Win
    From ZeroHedge: The early winners and losers of Trump’s presidential win are very clear, with trillions of dollars flying around as investors attempt to position themselves for the next four years. Despite the repeated warnings by websites such as this one that the polls showing Hillary Clinton ahead of the election were rigged and manipulated, misrepresenting the real popular support of the two candidates, and that the likelihood of a “shock” Trump victory is far greater than anyone was willing to admit, both traders, the media, and the punditry were stunned by the outcome which, just like Brexit, few had actually anticipated. The result, at least in global capital markets, has been an unprecedented repricing of risk assets.
  • War On Cash Intensifies: Citibank To Stop Accepting Cash At Some Branches
    Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia. Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.” (How convenient that a bank would propose something that’s good for banks!) This isn’t the first time that the financial establishment has pushed for a cashless society in Australia (or anywhere else).
  • Krugman Gets His Alien Invasion – And Gold Bugs Get Paradise
    Nobel Prize winning economist and uber-liberal New York Times columnist Paul Krugman likes to illustrate his philosophy by noting that the threat of an alien invasion would help the economy by stimulating government spending. Well, last week’s election gave Krugman and the rest of the Keynesian establishment their alien invasion (Trump and company being only partially human when viewed through Beltway-culture eyes).
  • Twitter cracks down on alt-right accounts
    Twitter is cracking down on accounts belonging to members of the alt-right movement in the wake of Donald Trump's victory in the presidential election, USA Today reported Wednesday. The social networking website suspended the accounts of several prominent figures, including Richard Spencer, president of an alt-right think tank. Spencer, who had a verified account, told The Daily Caller News Foundation that Twitter's action “is corporate Stalinism.”
  • A Third of Anti-Trump Protestors Arrested in Portland Didn’t Vote
    The streets of downtown Portland have swelled with protesters each night since Donald Trump won the presidential election on Tuesday, and on occasion the protests have turned violent. That’s led to 112 arrests in the last week and a review of state election records by a local news station shows that more than a third of those arrested didn’t even vote.
  • Who will be Trump's chief of staff? Kellyanne Conway says the announcement of The Donald's assistant is ‘imminent'
    Kellyanne Conway, Donald Trump's campaign manager, has said that the announcement for the White House chief of staff is ‘imminent'. Conway told reporters late Saturday night that there are ‘several people being considered' for the position, according to ABC News. But, she added, ‘it's Mr Trump's decision ultimately'. She said that she thinks ‘Reince Priebus has expressed interest in the position' as well.
  • George Soros
    “I cannot and do not care about the social consequences of what i do.” explains it right there folks…..
  • Permian’s Wolfcamp formation called biggest shale oil field in U.S.
    In a troubled oil world, the Permian Basin is the gift that keeps on giving. One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.
  • REVEALED: Donald Trump vows to ‘reopen 9/11 probe' that could ‘spark a revolution'
    Disenfranchised working class voters propelled the billionaire reality star into the White House this week in one of the biggest election upsets in US history. In his first days as President-elect, Republican Trump has given few clues on how he plans to honour his pledge to “Make America Great Again”. But ahead of his Brexit-style election earthquake, Trump threatened to lift the lid on one of the most catastrophic terror attacks in modern history.
  • Soros-Funded Anti-Trump Protesters Rioting in Cities Across America: Fomenting National Crisis and Martial Law?
    Globalist investor in murder and mayhem George Soros is at it again, funding his MoveOn.org to organize post-election “sour grapes” protests around the country in response to underdog Trump’s surprising President-elect victory. Complicit crime partner mainstream media is having a field day deceitfully spinning these top down, billionaire driven demonstrations as a spontaneous, grassroots populist uprising against racist dictator Donald. From a press release from MoveOn.org: The gatherings – organized by MoveOn.org and allies – will affirm a continued rejection of Donald Trump’s bigotry, xenophobia, Islamophobia, and misogyny and demonstrate our resolve to fight together for the America we still believe is possible.
  • Goldman Just Killed The “Reflation Euphoria” – Concludes Global Growth Will Suffer Under Trump No Matter What
    Earlier today, we presented an analysis by Goldman Sachs which emerged with a lukewarm take on Trump's policies as to how they stand to impact US domestic growth, with only Goldman's “adverse” scenario resulting in a “stagflationary”, i.e., recessionary outcome. However, in a follow up report by another set of Goldman economists Nicholas Fawcett and Sven Jari Stehn, one which looks at the broader global set of Trump policy consequences for the entire world – because after all, the US is still a part of it –  it finds that virtually every scenario leads to a global contraction, something we previewed yesterday in our post titled “What’s Good For The US In This Case, Is Not Good For Emerging Markets.”
  • The Anti-Trump Protesters Are Tools of the Oligarchy — Paul Craig Roberts
    Who are the anti-Trump protesters besmirching the name of progressives by pretending to be progressives and by refusing to accept the outcome of the presidential election? They look like, and are acting worse than, the “white trash” that they are denouncing. I think I know who they are. They are thugs for hire and are paid by the Oligarchy to delegitimize Trump’s presidency in the way that Washington and the German Marshall Fund paid students in Kiev to protest the democratically elected Ukrainian government in order to prepare the way for a coup.
  • Keiser Report: Gaddafi-like Death to Clinton's Political Career (E992)
    In this episode of the Keiser Report, Max and Stacy discuss the gruesome Gaddafi like death to a political career. They look at the role of Obamacare premium increases in middle income voter discontentment with the Democratic Party. In the second half, Max interviews Dr. Michael Hudson about what went wrong for Hillary.
  • Forget Trump – Is Deutsche Bank The First Domino of the Next Economic Collapse?
    The FIRST DOMINO of Contagion: Will Deutsche bank be the catalyst for the collapse of the European banking system?
  • The Amazing Collapse of Russia’s Auto Market
    We don’t hear much from the global automakers and their analysts about the multi-year sales fiasco in Russia, in part because they don’t like to bring up crummy data unless they have to. And they don’t have to. For them, Russia is just a tiny market, compared to China and the US: through October this year, new light vehicle sales in Russia amounted to about 8% of sales in the US. Since 2010, auto sales in China, the US, and many other countries have boomed. And they grew in Russia too, but only until late 2012, when the market began to stall. They declined in 2013. Then, when the sanctions hit in 2014, the market sagged. When the oil bust hit in 2015, the market crashed. And to this day, it continues to head south. The numbers are stunning.
  • Anti-Vaccination Proponent Melania Trump Delivers Powerful Speech
    Vaccinate your kids, they say. It’ll be safe, they say. The only problem is that “they,” isn’t vaccinating their children. Tonight, Melania Trump, the wife GOP Presidential nominee and potential First Lady of the United States, took the stage in grand fashion to endorse her husband’s controversial campaign. Melania has come from a rural town in Slovenia to the brink of being one of the world’s most powerful women. For husband Donald, Melania serves as a puzzle piece that doesn’t seem to fit with liberal rhetoric. Trump’s being painted as a racist and xenophobic and misogynist, something Melania’s presence seems to deny even without her ringing endorsements of him. She’s an immigrant, a woman, a cultural infusion.
  • The Global “Populist” Doom Tour Swings to Italy
    Widespread public disaffection and dissatisfaction are not unique to the UK and US; they’re on the rise all over the developed world. It’s not hard to see why. In the words of Mark Blyth, one of an embarrassingly small number of economists to correctly call both Brexit and the victory of Trump, the last 30 years have seen “a huge amount of economic growth but hardly anyone’s benefited from it.” And now the people are “fed up” and have decided at any opportunity to “give their elites notice that they’ve had enough.”
  • Here’s My Experience with Healthcare in Mexico
    An acquaintance of mine was walking around with a bandaged hand so I asked him what had happened. He was working and something slipped and he ended up with a nasty gash on the back of his hand. He went down to the local clinic and they put in 8 stitches. The total bill was $52. Three years ago, I fell on a tile floor and broke my pelvis in 3 places. I was picked up by an ambulance, driven 40 miles to a private hospital where I spent 6 days and had a 5 hour surgery to repair the damage. They put in 3 pins, a plate, and 6 screws. The total bill was $22,000. I have no idea just how many stitches they put in, but the incision is 14″ long. That was the total bill, no insurance.
  • The Far Left Is Planning The Biggest Political Protest In United States History For Inauguration Day
    We have seen very large protests in major cities all over America since Donald Trump won the election, but the biggest one of all is being planned for January 20th. Radical leftists are calling for thousands upon thousands of activists to descend upon Washington D.C. on Inauguration Day, and they are planning to disrupt the inauguration festivities as much as they possibly can. And if you doubt that the “Not My President” movement can pull this off, you may want to consider that 25,000 protesters showed up in New York City on Saturday on very short notice. These people are bitter, angry, frustrated and incredibly motivated. At this point they still have more than two months to organize their forces, and many are expecting that this is going to be the most chaotic Inauguration Day in American history.
  • “Is The Market Wrong?”: Financial Conditions Are Tightening At An Alarming Pace
    As a result of the recent spike in yields, and surge in the dollar following the Trump victory, the market's reaction has been to assume that this is a harbinger of rising inflation due to a tidal wave of “imminent” fiscal easing, and has accordingly pushed up the December rate hike odds to above 90%. After all, the logical offset of the expected easing in fiscal conditions is for the Fed to tighten monetary policy, arguably the only source of market gains (and economy support) over the past 7 years. But is the market wrong?
  • President-elect Trump speaks to a divided country on 60 Minutes
    The following script is from “The 45th President,” which aired on Nov. 13, 2016. Lesley Stahl is the correspondent. Rich Bonin and Ruth Streeter, producers. During what seemed an interminable campaign, a divided country found all kinds of ways to describe Donald Trump: visionary businessman, vulgar self-promoter, political neophyte. But after Tuesday, for all Americans, there’s only one description that counts: president-elect.
  • Bonds bloodied as Trump spending plans spur dollar
    Routs in global bonds and emerging markets intensified, while the dollar climbed with base metals as investors positioned for the wave of fiscal stimulus that Donald Trump has pledged to unleash. The yield on 30-year Treasuries rose to the highest since January, with last week’s record debt selloff bleeding into Monday trading and weighing on credit markets.
  • Democrats Are Now Calling For A ‘Revolution In The Streets’, And I Believe That They Are Quite Serious
    The surprise victory by Donald Trump on November 8th has spawned a series of violent protests and riots all over the nation as stunned leftists continue to throw the largest post-election temper tantrum in U.S. history.  Protesters in large cities all across America have been disrupting public transportation, looting stores, hurling objects at the police and burning Trump in effigy.  There have even been shootings at anti-Trump rallies in Seattle and in Portland.  Hundreds of protesters have been arrested so far, and organizers are promising that this is only just the beginning.  Meanwhile, large numbers of enraged leftists are physically threatening Trump on Twitter, and some are even calling for a violent revolution.  Sadly, I believe that they are quite serious about this.
  • Popular Vote Reality Check
    I’ve been listening to the left wingnuts crying foul because Crooked Hillary won the popular vote. They evidently fell asleep during their American government class in high school. The reason there are two senators per state and an electoral college is to keep the large powerful states from wielding too much power in governing the nation. It seems left wing nutjobs seem to be drawn together into 6 liberal enclaves. You may notice the professional violent Soros protestors do their best work in these states. Republican voters in these states know their vote is worthless, because there are far too many irrational, mathematically challenged snowflakes to overcome. So, many don’t even bother to vote.
  • Monte Paschi Begins Bondholder “Bail-In”: Will Equitize Over €4 Billion In Junior Bonds
    Monte Paschi's long anticipated, if largely undesired bail-in is finally a fact. Ever since the bank failed the ECB's latest stress test this summer, when it was advised that it needs to raise billions in capital, only to see the process fizzle with virtually no willing sources of new cash emerging due to the opaque labyrinth of the bank's bilions on NPLs, Italy's third largest, most insolvent, bank has been hoping to avoid a debt conversion, out of fears it may spook retail bondholders across the capital structure, and in other Italian banks, who may perceive the move even if touted as “voluntary” as a creditor bail-in. Which it technically is.
  • Why India wiped out 86% of its cash overnight
    India is in the middle of an extraordinary economic experiment. On 8 November, Prime Minister Narendra Modi gave only four hours' notice that virtually all the cash in the world's seventh-largest economy would be effectively worthless. The Indian government likes to use the technical term “demonetisation” to describe the move, which makes it sound rather dull. It isn't. This is the economic equivalent of “shock and awe”.
  • Anti-Trump Protests: Proof Of Professional Activist Involvement
    In a story from November 12, USA Today writes an article to discredit the idea that the professional activist community is involved with organizing anti-Trump protests. They invite you to meet the protesters. USA today presents them as ordinary people. However, WikiLeaks exposes them as experienced protest organizers and activists. USA Today presents the protests as spontaneous, involving people from “all walks of life” – certainly not professional protesters.
  • Elizabeth Warren: Democracy Demands That We Work Together on America’s Agenda
    Elizabeth Warren sparred with Donald Trump throughout the 2016 election campaign. Now, the senator from Massachusetts is ready to work with the president-elect to rebuild the American economy. But if Republicans attempt to remove Wall Street regulations or gut the Consumer Financial Protection Bureau, she will fight them. Warren shared her thoughts in a speech to the AFL-CIO executive council in Washington, D.C., on Thursday.
  • Iran Nears Pre-Sanction Levels, Starts Pumping Oil At 3 New Fields
    Three new oilfields in Iran were put in production mode this weekend at an official ceremony, adding more than 220,000 bpd to the country’s total output. The fields are Yadavaran, North Azadegan, and North Yaran—three of the five fields that Iran shares with Iraq. The launch of North Yaran was reported last week, with initial production seen at 30,000 bpd. North Azadegan will yield 75,000 bpd, and Yadavaran should produce 115,000 bpd. At the ceremony, President Hassan Rouhani was quoted as saying that “Oil production west of Karoun must reach one million barrels per day. This is a realistic goal, and we need investment and technology.”
  • Iran Surprises OPEC With A Further 250,000 Bpd Increase
    President of Iran, Hassan Rouhani, was poised to announce on Sunday that the nation has increased oil production by 250,000 barrels per day. This was accomplished through the creation of three new fields west of the Karoun River. The addition in production was highly unexpected, especially to neighboring OPEC nations. As of this past Wednesday, Brent crude oil futures have dropped a substantial amount to under $44 per barrel. Three publicly traded companies on three separate exchanges have paid as much as $3 billion to obtain these fields. Sinopec from China has acquired the largest, producing 115,000 barrels per day. China’s National Petroleum Corporation bought the second largest field and the third was given to Persia Oil and Gas Development of Iran. All three of these companies stand to profit from these fields. Iran is in the process of ramping up production to reach their prior unsanctioned levels, which would place the oil majors in a crucial position to grow.
  • Iran seeks $10 bln in Russian arms
    Iran is moving ahead with plans to purchase advanced Russian weaponry now that UN sanctions have been lifted even as Republican president-elect Donald Trump vows to revisit and/or scrap the nuclear deal between the Obama Administration and Tehran. Viktor Ozerov, the Russian Federation Council’s defense and security committee, who is on a visit to Tehran, said on Monday that Iran wants to buy $10 billion worth of weapons including T90 tanks, the most advanced in Russia’s arsenal. Russia has completed the delivery of S-300 air defense systems to Iran in October and these are expected to be ready for deployment by year’s end, Ozerov said. But any weapons that can be used for offensive purposes, such as the T-90s, must be approved by the UN Security Council until 2020.
  • Trump just laid out a pretty radical student debt plan
    Donald Trump is promising the most liberal student loan repayment plan since the inception of the federal financial aid program, in a clear effort to court the millions of Americans struggling with the high cost of college. “We would cap repayment for an affordable portion of the borrower’s income, 12.5 percent, we’d cap it. That gives you a lot to play with and a lot to do,” Trump said at a rally in Columbus, Ohio, on Thursday. “And if borrowers work hard and make their full payments for 15 years, we’ll let them get on with their lives. They just go ahead and they get on with their lives.”
  • Commentary: The unbearable smugness of the press
    The mood in the Washington press corps is bleak, and deservedly so.
    It shouldn’t come as a surprise to anyone that, with a few exceptions, we were all tacitly or explicitly # WithHer, which has led to a certain anguish in the face of Donald Trump’s victory. More than that and more importantly, we also missed the story, after having spent months mocking the people who had a better sense of what was going on.
  • China plays critical role in climate change cooperation – official
    China is expected to play a pivotal role in consolidating and enhancing South-South partnership, particularly when it comes to issues related to climate change. Speaking to the Chinese news agency Xinhua, Moroccan Foreign Minister and Climate Change Conference (COP22) President Salaheddine Mezouar said that China has an “extremely important role to play in accompanying, reinforcing and boosting South-South partnership and support sustainable development policies in the African continent”. China is currently participating in the 22nd Conference of Parties to the United Nations Framework Convention on Climate Change (COP22) held in Marrakech, Morocco.
  • Trump Will Become Third President to Forego a Salary. Here's What the Other Two Did With Theirs…
    Trump Will Become Third President to Forego a Salary. Here's What the Other Two Did With Theirs… From the start of his campaign, Trump has pledged that he'd put aside his business activities completely if elected, telling CBS's “Face The Nation” last October that he’s been “phasing out” his role since the beginning of his campaign.
  • Federal Reserve & Clintons Doomed-Clif High
    Internet data mining expert Clif High predicted that “Trump would win” the election and that Hillary Clinton would go “missing” after the election. Sure enough, Hillary was missing the night of her defeat.  What does that mean?  High thinks, “That there was a breakdown among a very delicate relationship among a lot of powerful parties that failed to deliver as promised.  The plan didn’t work.  So, now there is no real plan “B.”  There never could be under the circumstances.  We are in a situation where there can’t be a plan “B” for the Federal Reserve, for example.  They (FED) have to go on a certain path, they’re doomed.  That is true of the criminal organization we call CGI (Clinton Global Initiative).  Any criminal gang, no matter where it is in the social order, progresses along a certain path, runs into opposition and dies.  It always happens, and it always will.”
  • As Obama buries US-led TPP, focus shifts to China-backed trade deal
    The China-proposed Free Trade Area of the Asia Pacific (FTAAP) will be in focus during the upcoming  Asia-Pacific Economic Cooperation (APEC) summit in Peru from Nov. 19-20 even as the US officially gives up on a rival trade deal, the TPP. Heads of states including Chinese President Xi Jinping, Russian President Vladimir Putin and US President Barack Obama will be in attendance at the APEC Summit. In Peru, Obama will explain to other TPP nations the reasons for the US government’s failure and the suspensions of its efforts to win congressional approval for the deal. US President-elect Trump has called the TPP a “disaster” and “a rape of our country”.
  • When People Laughed At The Idea Of Trump Actually Being Elected President!
    Never underestimate the power of the silent majority.  Those who kept silent during this campaign had the strongest voices.
  • Soros And Liberal Mega-Donors Plot For War With Donald Trump
    George Soros and other liberal mega-donors are gathering in Washington for a three-day, closed-door meeting where they will discuss opposing Trump’s plan for his first 100 days in office. According to Politico, the meeting, which began on Sunday night at Washington’s Mandarin Oriental hotel, is sponsored by the influential Democracy Alliance donor club and will include darlings of the left such as House Democratic leader Nancy Pelosi, Senator Elizabeth Warren and Congressional Progressive Caucus co-chairman Keith Ellison.
  • 58 Facts About the U.S. Economy from 2015 that are Almost too Crazy to Believe
    This year the middle class continued to deteriorate, more Americans than ever found themselves living in poverty, and the debt bubble that we are living in expanded to absolutely ridiculous proportions.  Toward the end of the year, a new global financial crisis erupted, and it threatens to completely spiral out of control as we enter 2016.  Over the past six months, I have been repeatedly stressing to my readers that so many of the exact same patterns that immediately preceded the financial crisis of 2008 are happening once again, and trillions of dollars of stock market wealth has already been wiped out globally.  Some of the largest economies on the entire planet such as Brazil and Canada have already plunged into deep recessions, and just about every leading indicator that you can think of is screaming that the U.S. is heading into one.  So don’t be fooled by all the happy talk coming from Barack Obama and the mainstream media.  When you look at the cold, hard numbers, they tell a completely different story.  The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe…
  • EU chief SQUIRMS over questions of legitimacy of ‘undemocratic’ European Commission
    THIS is the astonishing moment an EU chief was left squirming as he was questioned on whether the European Commission is truly democratic – when it is made up of unelected representatives. The awkward scenes happened during a citizens dialogue in Helsinki, Finland, when Frans Timmermans, the First-Vice President of the Commission, was challenged over the legitimacy of the institution. Taking the EU representative to task, a Finnish citizen demanded to know why Jyrki Katainen had been allowed to become the country's commissioner after he resigned as prime minister for “failing” in the leading role.
  • The sneering response to Trump’s victory reveals exactly why he won
    If you want to know why Trump won, just look at the response to his winning. The lofty contempt for ‘low information’ Americans. The barely concealed disgust for the rednecks and cretins of ‘flyover’ America who are apparently racist and misogynistic and homophobic. The haughty sneering at the vulgar, moneyed American political system and how it has allowed a wealthy candidate to poison the little people’s mushy, malleable minds. The suggestion that American women, more than 40 per cent of whom are thought to have voted for Trump, suffer from internalised misogyny: that is, they don’t know their own minds, the poor dears. The hysterical, borderline apocalyptic claims that the world is now infernally screwed because ‘our candidate’, the good, pure person, didn’t get in.
  • Canadian Parliament Condemns Free Speech
    On October 26, Canada's parliament unanimously passed an anti-Islamophobia motion, which was the result of a petition initiated by Samer Majzoub, president of the Canadian Muslim Forum. The petition garnered almost 70,000 signatures.
  • Donald Trump could still not become president because of ‘faithless electors’ and the electoral college
    It’s still theoretically possible for Donald Trump not to become president. But the near-impossibility all depends on the electoral college and the strange US system. Donald Trump might have won the election by getting more of the votes in the electoral college than Hillary Clinton did. But strictly and legally, it’s not the election that just happened that matters: it’s the one where the members of the electoral college go and represent their voters and pick their candidate. That’s due to happen on 12 December, at meetings in each state where all Republican or Democrat representatives – depending on how each state voted – will cast their vote. And it will almost certainly go one way, with most of the electors casting their ballots for Donald Trump and making him President.
  • Did America Really Pass The Test? – Hillary Clinton Is Going To Win The Popular Vote By A Wide Margin
    The 2016 election was a test, and it would be easy to assume that since Donald Trump won the election that America passed the test. Unfortunately, it may not be that simple. A closer look at the numbers reveals a very sobering reality. Yes, Donald Trump won far more electoral votes than Hillary Clinton did, and that means that he is on track to become our next president. But Hillary Clinton is going to win the popular vote, and it is likely to be by a very wide margin once all the votes are counted.
  • No Matter What Happens, We Won’t Know Who The Next President Will Be Until December 19th
    Most Americans assume that their votes decide who the next president will be, but that is actually not the case.  It is the Electoral College that will elect the next president, and they don’t meet until December 19th.  And the truth is that all of the members of the Electoral College never meet in one place.  Rather, electors gather together in all 50 state capitals on the second Wednesday in December, and it is at that time that the next president and vice president are officially elected.  Of course members of the Electoral College have voted according to the will of the people about 99 percent of the time throughout our history, but with how crazy this election has turned out to be you never know what might happen.  For example, later on in this article you will see that one elector in Washington state has already publicly stated that he will not cast his vote for Hillary Clinton.  If other “faithless electors” emerge, that could potentially change the entire outcome of the election.
  • For People Who Are Worried About Druckenmiller Selling His Gold…
    For people who are worried about Druckenmiller selling his gold… Before we get to Druckenmiller selling his gold, look at the collapse in the 30-year bond market as interest rates continue to surge! I am going to stick with yesterday’s format and try to make sense of the market motion, then turn to the action lower in the column, and I’m doing this in response to all the questions I’ve been getting about how various markets can possibly do what they’re doing, i.e., why are they behaving as they are…
  • Druckenmiller: “I Sold All My Gold On The Night Of The Election”
    Just six months ago, Stanley Druckenmiller saw nothing but pain for the economy: in a presentation to the Sohn Conference in early May, the legendary Duquesne manager delivered what may have been his most bearish fire and brimstone sermon yet, and in fact according to some buysiders who were present, its somber mood and lack of faux optimism was downright apocalyptic. Druckenmiller said that while the Fed and policymakers have no endgame, markets do – hinting that one is rapidly approaching – and suggested that everyone should liquidate their equity holdings and buy a certain 5000 year old shiny asset, which as we reported previously, is Druckenmiller's “largest currency allocation.”
  • Toward A New World Order?
    A Brave New World is coming? Perhaps. We had a recent discussion with a group of people in the hopeless business of doing long term forecasting. This made us think about what the world will look like over the next 20 to 40 years. A pretty thankless task, but the bottom line is without a damn good war, Asia will be the way of the future. As an experiment, assume, as most long term forecasters do, that both Europe and the US have reached a mature plateau where growth will average around 1.5 to 2 per cent over the long term, while China will slowly decelerate from the current 6.5 to 3 per cent and India from today`s 7 to around 4. In this scenario (which we do not necessarily believe in, as China is up for en epic crash) what will be the share of global GDP by, say, 2060? And what are the geopolitical implications?
  • China ‘Devalues' Yuan To Weakest Since Breaking The Peg In 2010
    With offshore Yuan tumbling in recent days – echoing the collapse in US Treasury bond prices – the spread to the onshore fix appears to have forced the PBOC's hand. With a 200 pip cut in the CNY fix tonight, China has all but erased any strength in the Renminbi against the USD since it broke the peg (“enabled more flexibility”) in June 2010. Given the wakness in the Reniminbi basket, one could argue that the Yuan could be sold against the USD considerably more to catch down to the pressure that other major basket currencies have been under…
  • What Does Trump’s Victory Mean For Energy Policy?
    Real estate mogul Donald Trump has won the presidential election, and that likely means the Obama administration’s global warming agenda will be massively scaled back or scrapped altogether. Trump, a Republican, has promised to cut the EPA, scrap the Paris climate treaty and rollback rules holding back U.S. energy production. “Just look at what Trump has promised,” a source close to Trump’s transition team told The Daily Caller News Foundation.
  • Blame the Shrinking Toblerone on the Expanding Money Supply
    The confectionery corporation Mondelez International Inc. has announced it will be downsizing its beloved Swiss chocolate bar Toblerone due to the high cost of ingredients. The Illinois-based company, said in a Facebook post: “We carry these costs for as long as possible, but to ensure Toblerone remains on-shelf, is affordable and retains the triangular shape, we have had to reduce the weight of just two of our bars in the U.K.” Adjusting the size and weight of their products is a common practice for manufactures of food and beverages. It’s called “shrinkflation” and works as a cost cutting maneuver. In adjusting the Toblerone, the manufactures reduced its iconic row of triangular shaped pieces, expanding the gaps between each.
  • Marshall Swing Returns: Read My Lips…THE GLOBAL ECONOMIC COLLAPSE IS COMING
    Well, today is Election Day morning and everybody is wondering what happens in the U.S. Presidential Election and also what happens to gold and silver. People will be holding their breath until polls close in East Coast and Central time zones as most elections are decided and called shortly afterwards. I have not written an article in about 1 year and with good reason.  There really has not been that much interesting, to me, going on with gold and silver.  It is the same old stuff over and over again, wash, rinse, and repeat. Can you spell M – A – N – I – P – U – L – A – T – I – O – N  ?
  • Will Obamacare morph into Trumpcare?
    The buzz following the US elections is all about what to expect from the Trump presidency. At first, there was uncertainty over what, precisely, did he promise to do, but when he released his ‘Contract With the American Voter’ (described in this week’s news) the uncertainty shifted to what Trump will be able to do, considering the fact that almost all of it must be initiated and funded by Congress.
  • Peter Schiff Calls “Hidden Vote” for Trump Before Election Results
    In an interview with RT News Tuesday night just as the election was getting started, Peter Schiff showed, once again, his acumen and insight for reading economic and political situations correctly. After Larry King asked if the election’s comparison to Brexit was appropriate, Peter accurately described the simmering voter angst at the economy and predicted the existence of a “hidden vote” for Trump that would soon prove to have eluded pollsters.
  • No, the Electoral College won’t make Clinton president instead of Trump
    Donald Trump won Tuesday’s presidential election. But many liberals and progressives have begun clinging to one faint hope that he could still be stopped — through the Electoral College. Tuesday’s vote was technically not to make Trump president, but only to determine who the 538 electors in various states across the country will be. It is those electors who will cast the votes that legally elect the president on December 19.
  • All About Blockchain And Why It's A Bigger Deal Than Bitcoin
    Banks have made the exchange of currency their business. But the digital age has ushered in a new way of banking, disrupting the institutions that have controlled the industry for hundreds of years. It’s the internet of banking, developed by private citizens for private citizens. While innovation in the industry is most commonly linked to Bitcoin, a cryptocurrency, it’s the underlying technology, blockchain, that might produce the biggest waves. “Blockchain presents an opportunity to bring disparate things together and allow secure, nonrefutable records of transactions to be done anywhere you need them to be done — quickly, securely and with little chance of fraud,” said Andrew Dare, architect of financial services innovation at Hewlett-Packard Enterprise in Halifax, U.K. “Therein lies the true value of the technology.”
  • The Chilling Thing Hertz Just Said about the US Auto Boom
    Hertz Global Holdings, the giant rental car company which also owns Dollar and Thrifty, got crushed on Tuesday, as is so often the case, by an otherwise boring accounting entry. Depreciation of its cars had to be adjusted. Depreciation of the rental fleet is a huge expense in the industry: for Hertz, 29% of its total expenses. Depreciation is supposed to bring the value of these cars down to what they can be sold for when they’re scratched and dented and have 37,000 miles on them. Depreciating the fleet just a little less aggressively would boost earnings for a little while and is a very tempting strategy. But a few quarters later, when the cars have to be sold, reality comes home to roost.
  • What the Heck’s going on with Foreclosures? Why this Spike?
    The total number of homes with foreclosure filings jumped 27% in October from September, when they’d been at the lowest level since 2006. It was the biggest jump in monthly foreclosure filings since August 2007. Compared to October last year, homes with foreclosure filings still decreased, but this nationwide decrease is covering up what is now happening in 28 states and Washington D.C., according to the Foreclosure Report by ATTOM Data Solutions. There, the inventory of homes with foreclosure filings is beginning to rise even on a year-over year basis.
  • Former U.S. Treasury Secretary Just Warned Trump Could Be Assassinated
    Today former U.S. Treasury Secretary just warned that Trump could be assassinated. (King World News) Former U.S. Treasury Secretary Dr. Paul Craig Roberts:  The US presidential election is historic, because the American people were able to defeat the oligarchs.  Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump.  This shows that the media and the political establishments of the political parties no longer have credibility with the American people…
  • Wow… The Country Is Totally Not Prepared For This…
    If you’ve ever been REALLY bored, and wanted entertainment rather than anything even loosely resembling news, you may have stumbled upon cable “news” outlet MSNBC. If so, then it normally takes all of about 5 seconds to determine that the pundits and alleged “news” anchors MUST permanently resided in an alternate universe or dimension. Why? Because that's the only remotely plausible explanation for some of the stories they report as news on that channel, HOWEVER, in the article and videos below, you’re about to see proof that they’ve returned to our realm, even if just temporarily.
  • Consumer Credit Increases By $19.3 Billion
    The Federal Reserve's consumer credit report for September 2016 shows a 6.3% annualized monthly increase in consumer credit, and 7.0% for the entire third quarter.  Revolving credit increased 5.2% for the month as well as Q3,.  Non-revolving credit increased 7.4% for September and 7.6% for Q3.  Consumer credit matters due to personal consumption being the driving force in economic growth.
  • Do You Believe In Miracles?
    We have never seen anything like this in the history of American politics.  Donald Trump’s shocking victory on election night is nothing short of a modern day miracle.  Several weeks ago I told my readers that it would take the biggest political miracle ever in order for Trump to win, and I had been strongly urging them to vote, but even early on election night I was skeptical that Trump could actually pull it off.  Initially the results coming out of Florida, North Carolina and Ohio looked rather ominous, and a lot of Trump supporters were freaking out.  But those initial numbers strongly reflected early voting results, and those results typically favor Democrats.  Once the Election Day numbers started rolling in, it was clear that there was a massive unanticipated wave of momentum for Trump.
  • The defeat of Hillary Clinton just dealt a devastating blow to Monsanto, Big Pharma and the corrupt vaccine industry
    The ignorant people voting for Hillary Clinton two days ago had no idea what they were really voting for. That's by design, of course: They are kept deliberately dumbed-down by the complicit media which packed their brains full of anti-facts and twisted mush. While Clinton supporters mistakenly believed Hillary supported women, children, immigrants and humanity, in the real world Hillary Clinton was an obedient pawn of the most evil, genocidal corporate entities on the planet.
  • This Trump Economic Advisor Wants America to Go Back to the Gold Standard
    Donald Trump is no policy wonk. He is pitching himself as the best man for the presidency based on his track record as businessman, and his ability to surround himself with the “best” people—not on his knack for writing white papers. This, of course, means that it is important for voters to understand whom he is surrounding himself with, and what sort of ideas they hold.
  • Trump releases seven-point health care reform plan . . . and it's excellent
    A lot more than just getting rid of the lines. I mentioned on Facebook yesterday that I am not that big a fan of election years, and here's a case in point. At this moment, #NeverTrump is all the rage among conservatives, and there's a tremendous push to get Republican primary voters united behind one remaining Trump rival to take the nomination away from him. My job is to write what I think about whatever happens on a given day. It's not to only write what I think will result in a certain outcome. So when I tell you that Donald Trump's new seven-point health care reform plan is excellent, some of you are going to say: Don't say that now! It'll help Trump! # NeverTrump!!!
  • Kremlin: Hillary Clinton victory would have CAUSED World War 3 between Russia and USA
    DONALD Trump's shock victory in the US presidential election prevented World War 3 erupting between the USA and Russia, a Kremlin official has claimed. The senior Moscow diplomat, who advises Vladimir Putin, said a Hillary Clinton presidency would have plunged the world into a diplomatic crisis. But a former British foreign secretary has warned Mr Trump against cosying up to the Russian strongman, saying the Kremlin was “unafraid to use aggression and intervention to shore up its influence”.
  • Surging Bond Yields Signalling Pain Not Growth Ahead For US Economy
    The US election results are in and the US stock market is enjoying a sharp rally over the shock news of Donald Trump winning the election and becoming the new President elect. On the back of the big rally in US stocks there has also been another big shift occurring in another very important asset class, US Government bonds.
  • Here Is What Donald Trump Wants To Do In His First 100 Days
    At the end of October, Donald Trump spoke in Gettysburg, Pa., and released a plan for his first 100 days in office. The plan (below) outlines three main areas of focus: cleaning up Washington, including by imposing term limits on Congress; protecting American workers; and restoring rule of law. He also laid out his plan for working with Congress to introduce 10 pieces of legislation that would repeal Obamacare, fund the construction of a wall at the Southern border (with a provision that Mexico would reimburse the U.S.), encourage infrastructure investment, rebuild military bases, promote school choice and more.
  • Over $1 Trillion In Bond Losses In Days: Second Worst Week Ever
    Six months after we warned about the massive loss potential resulting from a spike in bond yields, one month after Ray Dalio did exactly the same, when he warned the NY Fed that “it would only take a 100 basis point rise in Treasury bond yields to trigger the worst price decline in bonds since the 1981 bond market crash”, and one day after we documented that MTM losses from surging bond yields had surpassed a third of a trillion, the tally is now three times greater, with total MTM losses soaring to $1 trillion just two days after the presidential election. As Bloomberg calculates, more than $1 trillion was wiped off the value of bonds around the world this week on concerns Trump’s policies will unleash a debt tsunami, and are seen boosting spending and quickening inflation. They are also expected to lead to much more QE as there will be trillions in government budget deficits that need to be funded.
  • The Trans-Pacific Partnership is dead, Schumer tells labor leaders
    The Senate’s soon-to-be top Democrat told labor leaders Thursday that the Trans-Pacific Partnership, the trade deal at the center of President Obama’s “pivot” to strengthen ties with key Asian allies, will not be ratified by Congress. That remark from Sen. Charles E. Schumer (D-N.Y.), who is expected to be the incoming Senate minority leader, came as good news to the AFL-CIO Executive Council, which met Thursday in Washington. Schumer relayed statements that Republican congressional leaders had made to him, according to an aide who confirmed the remarks.
  • Banning Fracking In The U.S. Would Kill 14.8 Million Jobs, Study Says
    A ban on hydraulic fracturing would kill 14.8 million jobs and cost the average American family $4,000 dollars, according to a new report by the U.S. Chamber of Commerce. Were environmentalists to successfully ban fracking next year, 3.9 million jobs would evaporate in 2017, rising to 14.8 million jobs lost by 2022, according to the report. Gasoline prices would almost double as would electricity prices. U.S. household incomes would fall by $873 billion.
  • Trump Not Seeking Full Repeal Of Dodd-Frank; Opposes Bank Bailout Provision
    One of the bigger surprises to emerge from the initial attempts by the Trump transition team to frame the president-elect's policy yesterday, was what was dubbed at full repeal of Dodd-Frank, a move which has been seen by some as surprisingly pro-banker friendly.
  • And Then They Came For the Big Rigs
    No one appears to have noticed this yet. But they will. Not on the road – or at the car dealership. At the supermarket. For openers. Uncle is “proposing” a “program” (the soft-sell language hides the reality of regulations issued by an unelected bureaucracy – EPA – which will be extremely mandatory) in order to “Reduce Greenhouse Gas Emissions and Improve Fuel Efficiency (their exact language, in the EPA’s pretentious Federal All Caps Style)  of “Medium, and Heavy Duty Vehicles.”
  • Edward Snowden Addresses The US Election Result In Public Webcast
    Edward Snowden, courtesy of RT, is delivering a public address on the US election result from Russia where he is a “temporary resident”, and taking questions via social media on privacy concerns, his pardon and other issues of public concern. A campaign has been launched to secure Snowden a presidential pardon before Obama leaves office in January 2017. Questions can be submitted to the whistleblower by using the hashtag # StartPageSnowden.
  • Zhuhai Air Show draws in over $40 bln
    The 11th China International Aviation & Aerospace Exhibition in Zhuhai, in south China’s Guangdong Province, closed on Sunday with a total of 402 deals worth over $40 billion, organizers said. The six-day exhibition attracted more than 700 exhibitors from 42 countries, and showcased mainly Chinese defense equipment including the J-20 stealth fighter. Although it debuted at the airshow, the J-20 will not be fully operational until 2018, the Chinese air force says. Commercial Aircraft Corporation of China (COMAC) sold almost 100 aircraft, a mix of commercial and fighter jets, during the event.
  • To fight graft, India withdraws large bills
    In a surprise move, India will withdraw the 500 and 1,000 rupee notes from circulation effective midnight Tuesday official sources said in New Delhi. The measure came following an announcement from Indian Prime Minister Narendra Modi who said it was an essential move to tackle graft in the country and crack down on unknown sources of income. “To break the grip of corruption and black [unaccounted for] money, we have decided that the 500 and 1,000 rupee currency notes presently in use will no longer be legal tender from midnight ie 8 November, 2016,” Modi said in a speech which was special televised on national TV.
  • CIVIL WAR: Violent rallies sweep America as protesters BURN US flag after Trump victory
    THOUSANDS of seething protestors have descended upon cities across America following the momentous election of Donald Trump as the US President. iolent rallies have taken place in New York, Chicago, Austin, Boston, Philadelphia, Washington, San Francisco, Los Angeles and Dallas to express their anger against the billionaire businessman which have continued long into the early hours of Thursday morning. Hordes of demonstrators rushed to Trump Tower in Manhattan screaming “not my President”, “New York hates Trump”, “we reject the President-elect” and “f*** the wall”.
  • Russian banks hit by cyber-attack
    Five Russian banks have been under intermittent cyber-attack for two days, said the country's banking regulator. The state-owned Sberbank was one target of the prolonged attacks, it said. Hackers sought to overwhelm the websites of the banks by deluging them with data in what is known as a Distributed Denial of Service (DDoS) attack. Security firm Kaspersky said the attacks were among the largest it had seen aimed at Russian banks.
  • The defeated left turns to HATE: Liberals unleash beatings, death threats and calls for mass murder of Trump supporters
    Now that the voters have wholly rejected the retarded, delusional leftist vision for America — which we might as well just call “liberal suicide” — the real character of the left is on full display. Today, angry liberals are turning to extreme violence and hatred, calling for the killing of Trump supporters, the assassination of Trump and the bloody beatings of all whites. Yes, the racism, violence, bigotry and HATE of the left has finally come out of the closet. I saw this coming, of course, long ago. If you're a regular Natural News reader, you may recall my August 30th article entitled Chaos will erupt across America in less than 100 days… no matter who wins the election. Now, like clockwork, it's all coming true exactly as I foresaw.
  • George H.W. Bush on Trump: I ‘wish him well'
    Former President George H.W. Bush joined his son on Wednesday in congratulating Donald Trump on his White House win. POLITICO reported in September that the elder Bush planned to support Hillary Clinton for president, according to Kathleen Hartington Kennedy Townsend, a former Maryland lieutenant governor and daughter of the late Robert F. Kennedy. It's unclear, however, whether he actually did so.
  • Progressives Find ‘White Trash’ More Threatening Than Nuclear War — Paul Craig Roberts
    The American electorate’s preference for Donald Trump and Bernie Sanders has established two facts. One is that the majority of the American people do not believe the media presstitutes. The other is that only the “progressives” and “liberals” who inhabit the Atlantic Northeast and Pacific West coasts believe the presstitutes. Trump’s election to the presidency has confirmed these holier-than-thou souls in their strongly held belief that America is a white trash racist country. They have told us this all day long today. From these people and from the presstitutes we hear that white supremacy elected Trump. This is their propaganda, the intention of which is to discredit a Trump administration before it is inaugurated. Funny how white supremacy elected black Obama twice previously.
  • Rudy Giuliani Addresses Hillary Pardon – “President Obama Should Leave It To The System”
    Rudy Giuliani, the man that many believe Trump will tap for Attorney General, walked a very fine line this morning in responding to a question about whether or not the Obama administration should pardon Hillary Clinton for her numerous alleged crimes.  While noting the obvious intricacies around potentially prosecuted a former political foe, Giuliani noted that “there are deep and disturbing issues there” and that “President Obama should leave it to the system that we all believe in to determine, is she innocent or is she guilty.”
  • Reverse Speech analysis of Hillary Clinton concession speech
    Ok guys, Hill's concession speech reversals have now been posted on David Oates Reverse Speech Youtube Channel. A bit under 3 mins. She refers twice to a media type battle coming up. And, we can all probably easily guess what that's gonna be about.
  • This is How Consumers Turn into Debt Slaves
    Consumer debt rose by $19.3 billion in September to $3.71 trillion, another record in a five-year series of records, the Federal Reserve’s Board of Governors reported on Monday. Consumer debt is up 6% from a year ago, at a time when wages are barely creeping up and when consumer spending rose only 2.4% over the same period. This follows the elegant principle of borrowing ever more to produce smaller and smaller gains in spending and economic growth. Which is a highly sustainable economic model with enormous future potential, according to the Fed.
  • Obama's “Excellent” Conversation With Trump Is Over: “If You Succeed, The Country Succeeds”
    Probably the most awkward meeting ever is now over as President Obama says that he had an “excellent conversation” with President-Elect Trump. The meeting which Trump had scheduled for 10 minutes, lasted an hour-and-a-half and concluded with Obama telling reporters that “if Trump succeeds, the country succeeds.”
  • President Trump: This Is How To Bring Back 1 Million Energy Jobs
    There’s work to be done. And I know you’re up for a challenge. In fact, I’m now sure of it. So let me lay out a policy position that I am truly hoping you will adopt as your own. I’m talking about natural gas as a transportation fuel: cheap, clean, abundant natural gas. And I’m talking about U.S. energy independence, balanced budgets, jobs, trade and the environment. We use natural gas for power generation and as a heating fuel but that’s an old story for a new reality. Fracking has unlocked a phenomenal amount of gas in the last decade. Our onshore wells are rivaling the reserves of the deep offshore giants. And we’re getting much more for much less these days. North America also has over 2 ½ million miles of pipeline with more coming on line plus distribution capabilities in every urban center in America and Canada. All that’s missing is an appetite for it.
  • Trump Reveals Policy Goals: “Building That Wall”, End “War On Coal”, Repeal Obamacare, Dismantle Dodd-Frank
    On his transition website GreatAgain.gov, the Trump team has laid out the framework of his initial policies with policies focused i) on American Security including as Defense and National security, Immigration Reform and Building That Wall, and Energy Independence; ii) Getting America Back to Work Again including Tax Reform; Regulatory Reform; Trade Reform; Education; Transportation & Infrastructure and Financial Services Reform; and iii) Government for the people including Healthcare Reform (Obamacare), Veterans Administration Reform and Protecting Americans' Constitutional Rights.
  • Angela Merkel Warns Russia May Interfere In German Election Next
    It appears it's not just the US voting system that has been allegedly penetrated by Vladimir Putin (at least if Trump is winning). German Chancellor Angela Merkel said on Tuesday that Russia could try to influence Germany's general elections next year through cyber attacks or disinformation campaigns, following similar accusations by Washington, which also accused the Kremlin of meddling in the US vote. Germans are scheduled to go to the polls in September 2017. Merkel has yet to announce her candidacy but is widely expected to run for a fourth term.
  • The Working Class Won The Election — Paul Craig Roberts
    The US presidential election is historic, because the American people were able to defeat the oligarchs.  Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump.  This shows that the media and the political establishments of the political parties no longer have credibility with the American people. It remains to be seen whether Trump can select and appoint a government that will serve him and his goals to restore American jobs and to establish friendly and respectful relations with Russia, China, Syria, and Iran.
  • Oil Prices Stable After Initial Shock To Trump’s Election Win
    Having plunged immediately after Donald Trump won the U.S. presidential vote, oil prices shook off the shock from the surprise election victory, almost pared losses, and were even trying to look up in early trade on Thursday. As of 7:11 AM (EST), West Texas Intermediate Crude traded down 0.57 percent at US$45.01, while Brent Crude was inching up 0.11 percent to trade at US$46.41. On election day, by 11:30 PM (EST), WTI Crude had slumped to US$43.72 a barrel—down a hefty 2.80 percent—as the pollsters and statisticians crunched the numbers and called first Florida, then North Carolina and Ohio for Trump, making the path for a Clinton nearly insurmountable.
  • President Obama is Considering Rerouting the Dakota Access Pipeline
    Amidst ongoing controversy over the Dakota Access Pipeline, President Obama has finally spoken out, saying that his administration is looking for a way to “reroute” the pipeline to avoid affecting sacred tribal lands at Standing Rock Indian Reservation. Obama mentioned the strategy during an interview with Now This, saying, “My view is that there is a way for us to accommodate sacred lands of Native Americans. And I think that right now the Army Corps is examining whether there are ways to reroute this pipeline.”
  • Keiser Report: Winners & Losers (US Election Day special E991)
    In this special US Election Day episode of the Keiser Report from New York City, Max and Stacy report from outside the Javits Center, where Hillary Clinton took the stage at the event that she and most pollsters and media thought would celebrate her victory. What went wrong? Former North Carolina Democratic Party Chairman Randy Voller tells Keiser Report that Hillary failed to bring in the working class vote. Author and former banker Mitch Feierstein suggests it was her alleged corruption. And credit analyst and Trump supporter Chris Whalen says that, in the end, Hillary just didn’t have the message that resonated with voters and it was Trump who had momentum and message.
  • UK Quietly Deploys Warship To Guard Oil Shipping Off Yemen
    The UK has deployed its most advanced warship to guard commercial shipments through a narrow strait off the Yemeni coast, through which most of Britain’s oil and gas supply travels, The Times reported on Wednesday. The deployment of the HMS Daring ship has not yet been made public due to the sensitive nature of having a British warship linked to the conflict in Yemen, the UK’s newspaper noted. According to The Times, HMS Daring was on its way to join a mission in the Gulf, but was redeployed to the Bab al-Mandeb Strait, the waterway of global trade between the Mediterranean, the Suez Canal and the Indian Ocean.
  • This is What Happened to the “Trump Crash”
    Overnight there were whiffs of financial mayhem. Wednesday morning in Tokyo, when it started sinking in that Trump was winning, speculators dumped stocks, and the Nikkei ended the day down 5.4%. The Asia Dow was down 3%. Then in the US, Dow futures plunged 750 points, over 4%. Nasdaq 100 futures plunged 4.5%. Futures for the CBOE Volatility Index – the “fear index” – jumped 40%. The Mexican peso plunged 11% to a record low of 20.3 pesos to the dollar at one point, its worst drop since the Tequila Crisis of 1994. Stocks in Europe were down, gold jumped, oil plunged. And America woke up to this scenario. Short sellers were licking their chops. This was the scenario they’d prepared for. Serious money could be made in this so predictable crash.
  • The Navy can't fire its awesome new gun because the rounds cost nearly $1 million each
    The US Navy can't fire its awesome new gun that can hit a target more than 70 miles away because the rounds are costing the service nearly a million bucks a piece. Just a couple weeks after the Navy commissioned its most advanced warship, the USS Zumwalt (DDG-1000), the service says it won't be buying any more of the guided precision munitions the ship's Advanced Gun Systems uses, called the Long Range Land-Attack Projectile (LRLAP).
  • Stocks Could Crater If They Fall Below This Important Trend Line
    From Dana Lyons: Some junctures are more significant than others in the markets. Coming into last week, it didn’t immediately occur to us that we were on the verge of such an important juncture across asset classes. However, the fact that our Trendline Wednesday feature on Twitter and StockTwits included an unprecedentedly large number of assets and indices suggests that we are indeed at a significant juncture.
  • Edelson: Oil Will Plunge To $26 Per Barrel Next Year
    Analyst Larry Edelson explains his bearish case on crude oil, which includes a huge downside forecast for next year. Hopefully you heeded my warning about why the OPEC agreement was doomed to fail, leading to a sharp decline in crude oil prices. Crude oil is down 14% from the October 19 high, OPEC is scrambling for unity and all the talking heads and newswires are touting how an OPEC deal might not happen. I hate to say I told you so, but… Plunging crude oil prices and a severe loss in credibility has OPEC playing defense and concocting a new strategy. It’s becoming increasingly important for Russia, Saudi Arabia, Iran and Iraq to sharpen their pencils and hash out a “deal” at the November 30 OPEC meeting. And still, that may not be enough to maintain relevance and engineer higher crude oil prices.
  • China’s Improving Economic Data Signals Big Growth Ahead
    A wave of positive economic data suggests the Chinese economy is stabilizing and that business confidence is improving. The country’s purchasing managers’ index (PMI), which measures the health of its manufacturing industry, rose to 51.2 in October, handily beating economists’ estimates of 50.3. Expanding at its fastest pace since July 2014, the industry was stimulated by a strong rebound in new orders and higher commodity prices. Output rose to an incredible five-and-a-half-year high. And with backlogs of work beginning to pile up, manufacturers trimmed employees at the slowest pace in 17 months.
  • There will never be a Sound Currency System
    As the gold market takes a break in its journey to much higher levels, it is good to step back a bit and understand why gold has appreciated so dramatically in the last 100 years and why this will continue for many years to come. Most people have no idea what money is. They believe that if they have 100 dollars or euros, that this represents real value as well as durability. Few people realise that their currency which they call money has nothing to do with real money at all. All paper currencies are ephemeral and return to their intrinsic value of zero. This is because reckless governments cling on to power by printing or borrowing endless amounts of fiat money in the hope that they will placate the people and buy votes. Fiat money as the name indicates, can never be real money. It is issued by edict and is not backed by anything but debt and liabilities. Power corrupts and money corrupts. It is a lethal combination which not only destroys people but also nations. And sadly, we have now reached a point in history when the unlimited amounts of fiat money that have been created will also destroy continents.
  • Central Banks Have Broadcast What is About to Hit…
    The biggest problem for the financial markets is not stocks nor is it the economy. It’s the Bond Bubble. Globally the bond bubble is now over $199 trillion in size. The world taken as a whole is sporting a Debt to GDP ratio of over 250%. This is a systemic issue.
  • CNN Makes False Claim About Firearm Death Rates And Uses Bogus Data From George Soros Backed Small Arms Survey
    CNN makes the completely false claim that the US has “one of the world’s highest rates of death by firearms.”  Note most countries don’t report their firearm homicide rates, and there are many other problems that make the US’s rate look worse compared to other countries (please see here, that also provides links to data sources).  Admittedly the CNN claim is based on total firearm deaths and most of those are suicides in the US, but the firearm homicide rates are so massive in other parts of the world that they swamp firearm suicides in the US. (If you use murders (not homicides that include justifiable homicides), suicides account for about 70% of firearm deaths in the US.)
  • Donald Trump’s foreign policy ideas aren’t as crazy as they seem
    After crisscrossing the country making his urgent last claims to the White House, Donald Trump has made it. But there is still nothing in his appearance or demeanour to suggest a president-in-waiting – at least not a president the United States has elected in recent times. His shortcomings as President-elect appear particularly glaring on foreign policy, where – so it would seem – his priorities can be summed up on the back of an envelope: bring Mr Putin in, keep the Mexicans out and make other countries pay a proper price for US protection.
  • Impeachment Process Starts On French President Hollande For Disclosing Classified Information To Journalists
    French president François Hollande whose approval rating is a scant 4% now faces impeachment for disclosing classified information to journalists. Given national elections take place in 2017 and given socialists would be unlikely to convict him, one has to wonder “why bother?”, yet here we go: French Right Calls for François Hollande’s Impeachment.
  • Donald Trump to discuss smooth transition with Barack Obama
    Donald Trump will head to the White House on Thursday to discuss with Barack Obama the transition of power. Mr Trump was elected the 45th president by defeating Hillary Clinton in one of the most divisive elections in modern US history. Speaking to reporters, Democrat Mr Obama admitted he and Republican Mr Trump have some “pretty significant differences” but “the presidency is bigger than any of us” as he vowed to ensure the transition was smooth and successful.
  • US military successfully tests electrical brain stimulation to enhance staff skills
    US military scientists have used electrical brain stimulators to enhance mental skills of staff, in research that aims to boost the performance of air crews, drone operators and others in the armed forces’ most demanding roles. The successful tests of the devices pave the way for servicemen and women to be wired up at critical times of duty, so that electrical pulses can be beamed into their brains to improve their effectiveness in high pressure situations. The brain stimulation kits use five electrodes to send weak electric currents through the skull and into specific parts of the cortex. Previous studies have found evidence that by helping neurons to fire, these minor brain zaps can boost cognitive ability.
  • Carl Icahn Bought $1 Billion In Stocks During “Trump Crash”
    As we explained first thing this morning, the market's correct reaction upon learning of the Trump presidency, was not to dump equities “limit down”, but rather to buy every risk asset in sight, now that Trump is preparing to unleash the inflation monster, something the market realized later in the trading day, leading to the biggest one-day percentage move on record in bond yields, and stock market surge that has led to a 1,000+ rebound in the Dow Jones to all time highs. However, not everyone was dumping. While the Dennis Gartmans of the world were liquidating their portfolios at lowest print of the year, warning of “fully engaged bear markets”, Trump's close confidante and person speculated to be Trump's Treasury Secretary, Carl Icahn was waving it in.
  • Wikileaks: Rahm Emanuel used personal email accounts
    Chicago Mayor Rahm Emanuel used personal email accounts and a personal email domain to communicate with government officials and political figures, according to a published report based on hacked emails posted by WikiLeaks. Emanuel's personal account information turned up among the thousands of emails from John Podesta, Democratic presidential candidate Hillary Clinton's campaign chairman, the Chicago Tribune reported. Clinton has come under fire for her use of a private email system because doing so potentially jeopardized classified information.
  • GM Slashes 2000 Jobs, Suspends 3rd Shift On Bloated Inventories, Slowing Sales
    Who could have seen this coming? Just weeks after Ford idled four factories due to slumping sales and excess inventory, GM just followed by slashing 2000 jobs permanently and suspending a third shift at production facilities in early 2017.
  • Diving Into The Medical CPI: Are Your Medical Expenses Up Only 5% From Year Ago?
    On November 1, I posted a couple of charts from Variant Perception that shows medical price inflation plus rent inflation is up nearly 9% from a year ago. Let’s review those charts, then take a look at a series of charts from the St. Louis Fed data repository on medical expenses alone.
  • Trump Victory Crashes Chinese Yuan To Record Low
    After a brief few hours of rallying overnight as early indications tilted towards Clinton, the moment Florida was called for Trump, China's offshore Yuan started to crash. Just hours later it has dropped 5 big figures to a record lows of over 6.82/$ despite China's officials preferring him. The selling panic started as Trump took the blead in Florida and several other battleground states… Which is a new record low for the offshore currency…
  • China Is Suddenly Dumping Treasuries
    While we admit that “suddenly” is not exactly the right word to describe China's selling of US Treasurys, which has been steadily liquidating its UST reserves over the past two years, something changed today, when in a violent move starting around the time of the Trump election was guaranteed after midnight, the offshore Yuan,  the CNH, has been a one way street of non-stop selling, indicative however, of much more than just the relative strength of the dollar. In fact, as the chart below shows, the selling in the Yuan appears to be closely correlated to today's unprecedented liquidation in US Treasurys…
  • President Obama Explains Why It's All Hillary's (And Putin's) Fault – Live Feed
    Having exclaimed for months on the campaign trail that he’d consider Donald Trump’s election a personal repudiation, President Obama is face with the harsh reality that it was him that was “peddling fiction” while ‘rome' burned. We suspect the blame-mongering will begin very quickly as former Obama senior adviser Dan Pfeiffer tweeted last night: “The most shocking part of tonight is the number of people who approve of Obama but didn't vote for Hillary Clinton.” The question is – will Obama move to Canada.
  • Obamacare Melts Down
    When Obamacare was first passed, Vice President Joe Biden famously said it was a “big f—ing deal.” Now, though, there's a surprising level of bipartisan agreement that it's a big honking disaster. There had been many warning signs, but last week it became official: Obamacare premiums are going up next year by an average of 22 percent. And bear in mind this is an average. Our colleague Mary Katharine Ham wrote an eye-popping column at the Federalist about how her own Obamacare premiums are increasing by 96 percent in the coming year.
  • Five Reasons You Should Blame The Economics Discipline For Today's Problems
    We are experiencing deep economic problems and it is the fault of the economics discipline. Their macro theories suck. But, there is no mechanism forcing it to alter its models when they don’t appear to work. This is so because economists basically write for each other in a language only they understand and their jobs depend on impressing a limited number of journal editors and referees, not correcting real-world problems. The academic inbreeding that has resulted has led to dysfunctional theories and, despite the fact that there were economists who accurately forecast the Financial Crisis, because their work is incompatible with what is published in “good” journals it has been all but ignored. Economics is broken and there is no internal incentive to fix it.
  • Multi-Billionaire Hugo Salinas Price – ‘I Have Serious Doubts About The Survival Of Our Civilization’
    As the world awaits the outcome of the election in the United States, some time ago multi-billionaire Hugo Salinas Price told King World News in stunning fashion what he believes to be the frightening plan to control the world going forward. He described the people planning this as “barbarians,” and said, “this is not going to end well.” He also issued this ominous warning, “I have very serious doubts about the survival of our civilization under such people.” Below is what the multi-billionaire had to say in this incredibly powerful interview. These People Are “Barbarians”. Hugo Salinas Price: “With regards to the social question in the world, in 1929 a Spanish thinker by the name of Ortega y Gasset wrote a book that really shook up the world titled, ‘The Revolt of the Masses.’ He was talking about the appearance on the world stage of new individuals. He was writing about the growth of the population and the appearance of new individuals coming in to the mass of humanity. And these individuals evidently are (what he described as) ‘barbarians.’….
  • Bitter Irony: San Francisco, Los Angeles, San Jose have the Worst Roads in America, Worse even than Detroit
    That the streets are in terrible shape in San Francisco is clear when I step out of the house, look at the pavement I need to cross, and think: “I should have put on my hiking boots.” To its credit, the city has been repaving streets in sections of a few blocks here and there. Those repaved sections look civilized, until you get to the next intersection. But now we know, sort of officially: the streets in San Francisco are in the worst condition of any major urban area. Even compared to smaller cities, only Concord, also in the Bay Area, outshines it.
  • Greenspan Predicts Bond Yields Rising As High As 5%
    While the world has learned to take Alan Greenspan's forecasts with a grain of salt, earlier today the former Fed chairman was on Bloomberg TV with another bombastic prediction, warning of a substantial surge in US long-term interest rates should “inflation take hold.” In the interview, Greenspan said that “if the early stages of inflation, which are now developing, would take hold, you could get — fairly soon — a fairly major shift away from these extraordinarily low yields on 10-year notes, for example,” Greenspan said in an interview on Bloomberg Television on Monday. “I think up in the area of 3 to 4, or 5 percent, eventually. That’s what it’s been historically.”
  • Student, Auto Loans Hit New All Time High Of $2.5 Trillion As Consumer Credit Jumps By $19 Billion
    The Fed's latest consumer credit report revealed that in September, overall household credit rose by a greater than expected $19.3 billion, above the $18 billion expected, if below last month's near-record $26.8 billion. There were no major surprises in the components of overall credit, with revolving, credit-card debt rising by $4.2 billion, in line with the increase observed in recent months. The ongoing increase in revolving debt, means the total amount of credit card debt outstanding has nearly caught up with the $1.02 trillion peak reached during the credit bubble.
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Pre- and Post-Election News Articles – November 9, 2016

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a special summary of articles shared this week from just before the election to its aftermath. However, as election fever was gripping the USA there were other things going on around the world that you may have missed. Please review the following articles. 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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Lindsey Williams - Latest News Articles

Latest News From November 4, 2016 to November 9, 2016:

  • President-elect Donald Trump’s cataclysmic, history-making upset
    What Donald Trump has done is nothing short of cataclysmic. He has fundamentally reshaped the political map. He has broken the Republican Party into pieces — and its shards still remain scattered everywhere. He has proven that the political polling and punditry industries need a deep re-examination. But, even more than all that, Trump's victory reveals that many of the assumptions that people have long made about who we are as a country and what we want out of our politicians, our political system and each other are, frankly, wrong.
  • After Trump’s victory, the world is left to wonder: What happened to America?
    Allies recoiled. Adversaries rejoiced. And on the day after U.S. voters made Donald Trump the country’s 45th president, the world was left to collectively wonder: What happened to America? The question hung in the air even as once-unthinkable congratulatory messages poured into Trump Tower from capitals across the globe. Foreign leaders who had spent months disparaging the Republican nominee as unfit for office were forced to reckon with the reality that he will soon govern the world’s sole superpower. U.S. foes who may have only dreamed of a Trump presidency seemed to scarcely believe their good fortune.
  • Donald Trump shocks world, wins presidential election in biggest upset in political history
    Donald Trump overcame all odds Wednesday, riding the wave of an unprecedented populist movement to put himself in line to be the 45th president of the United States. The Republican presidential nominee secured the 270 electoral votes needed to win the White House. In doing so, he completed the biggest upset in modern political history, beating his Democratic challenger, former Secretary of State Hillary Clinton, as well as one of the most promising fields of Republican candidates in a generation.
  • European markets actually had a great day despite Trump's shock victory
    Stocks across Europe closed deep in positive territory on Wednesday, rallying back from an initial crash as the shock of the fact that Donald Trump is the next president of the United States. All of Europe's biggest bourses were significantly down soon after the European open, crashing lower thanks to the uncertainty that a Trump presidency brings to the markets. Trump and his economic positions are seen as far less predictable than those of Hillary Clinton, and do not always follow party orthodoxy. As such he is perceived as more of a political risk than Clinton, causing the huge reactions in the markets overnight, which have continued into European trade.
  • Regardless of How America Votes, Americans Want a Different Foreign
    I have said throughout this presidential campaign that it doesn't matter much which candidate wins. Both Donald Trump and Hillary Clinton are authoritarians and neither can be expected to roll back the leviathan state that destroys our civil liberties at home while destroying our economy and security with endless wars overseas. Candidates do not matter all that much, despite what the media would have us believe. Ideas do matter, however. And regardless of which of these candidates is elected, the battle of ideas now becomes critical. The day after the election is our time to really focus our efforts on making the case for a peaceful foreign policy and the prosperity it will bring. While we may not have much to cheer in Tuesday's successful candidate, we have learned a good deal about the state of the nation from the campaigns. From the surprising success of the insurgent Bernie Sanders to a Donald Trump campaign that broke all the mainstream Republican Party rules – and may have broken the Republican Party itself – what we now understand more clearly than ever is that the American people are fed up with politics as usual. And more importantly they are fed up with the same tired old policies.
  • Gold price retreats after initial surge on US election result 
    The price of gold fell back from the sharp gains made earlier on Wednesday, after a conciliatory victory speech from U.S. president-elect Donald Trump also helped the dollar rebound. Gold had surged by nearly 5 percent to a six-week high of $1,337.40 an ounce as it emerged that the Republican nominee had triumphed over Democrat Hillary Clinton in the presidential election, a surprise for markets which prompted investors to seek refuge in perceived safe-haven assets like gold.
  • Putin Congratulates Trump on Victory in US Presidential Election – Kremlin
    Russian President Vladimir Putin congratulated Donald Trump on his victory in the US presidential election, voicing hope that joint work will resolve the crisis in bilateral ties, the Kremlin said Wednesday. According to Kremlin, President Putin sent a telegram to Donald Trump, congratulating him on his victory in the US presidential election and wishing him success in taking on the serious task of being head of state.
  • Donald Trump wins the presidency, hails ‘beautiful and important' win
    Donald John Trump will be the 45th president of the United States, capping a historic and boisterous run by an outsider who captured a loyal following across a swath of America fed up with establishment politics, the news media and elected officials. His success was only part of a larger, crushing victory for the Republican Party, which retained the House and maintained control of the Senate.
  • Trump win upsets global markets
    Global stocks suffered a sudden and sharp reversal of fortune early Wednesday as Republican candidate Donald Trump looked increasingly likely to become the 45th president of the United States. By the time he was declared the winner at 07:45 GMT, the Dow Jones industrial plummeted 827 points, the S&P 500 was down 107 points, and the Nasdaq 100 lost 241 points. A frenzied selloff at the New York Stock Exchange picked up pace as Democratic candidate Hillary Clinton lost key battleground states, leading to a five per cent drop in value of US stocks. This triggered an automatic circuit breaker halt on trading.
  • Trump Wins 2016 Presidential Election & Saves America
    This is my take on the big Trump win that saves the country and the rule of law in America. We are going to get a market selloff, but at least we will only have to deal with economic problems created by the criminal crony class and not the additional full blown tyranny of a Clinton Administration. The financial markets will be in turmoil, and the fantasy economy is about to meet reality. Savor the Trump win, but be prepared for a lot of work and financial pain. Join Greg Hunter for his take on the coming Trump Presidency and what it means for the winners and losers of the 2016 election. There are big winners and very big losers. I always say “Fear Not, God the Father is in charge,” and he proved it tonight.
  • AS IT HAPPENED: Donald Trump wins the White House and markets go haywire
    Donald Trump has been elected the 45th president of the United States. Trump’s win came as a shock to investors and sent markets into a tailspin through the night on Tuesday and into the pre-dawn hours of Wednesday. The market’s nadir came at 11:55 p.m. ET, when the S&P 500 went limit-down after a 5% decline, meaning trading below this level would be halted until Wednesday morning. Near 2:30 a.m. ET, when the Associated Press called the election for Trump, Dow futures were down about 520 points and S&P 500 futures were off 3.4%.
  • Clinton Concedes: Donald Trump Becomes 45th U.S. President
    And NBC News reports that Hillary is said to have conceded on phone with Trump. CNN's Dana Bash is also reporting that Hillary Clinton has called Donald Trump to concede the race, matching the earlier report from NBC News.
  • Donald Trump Is Elected President in Stunning Repudiation of the Establishment
    Donald John Trump was elected the 45th president of the United States on Tuesday in a stunning culmination of an explosive, populist and polarizing campaign that took relentless aim at the institutions and long-held ideals of American democracy. The surprise outcome, defying late polls that showed Hillary Clinton with a modest but persistent edge, threatened convulsions throughout the country and the world, where skeptics had watched with alarm as Mr. Trump’s unvarnished overtures to disillusioned voters took hold. The triumph for Mr. Trump, 70, a real estate developer-turned-reality television star with no government experience, was a powerful rejection of the establishment forces that had assembled against him, from the world of business to government, and the consensus they had forged on everything from trade to immigration.
  • Live Presidential Forecast
    Donald J. Trump has won the presidency. Below, our estimates of three key indicators. he projections for each state are based on the votes reported so far and how those places have voted in previous elections. We’re showing the closest states by default.
  • NATO Places 300,000 Troops On “High Alert” In Readiness For Confrontation With Russia 
    NATO a preparing a military force of up to 300,000 personnel, capable of being deployed within just two months to attack Russia. As the world remains fixated on the outcome of Tuesday’s US elections, NATO continues its aggressive troop build up around Russia. With each passing day, the constant NATO activity is looking more and more like a preparation for full scale conflict with Russia. Something that would become a very real possibility should Hillary Clinton make it to the White House.
  • The Greatest Wealth Transfer In History Nears As ‘Deep State’ Now Pulling Out All The Stops
    On election day, today John Embry told King World News that the greatest wealth transfer in history nears as the ‘Deep State’ is now pulling out all the stops. ‘Deep State’ Desperation. John Embry:  “Eric, mercifully election day in the U.S. has finally arrived to put an end to the ugly spectacle which has been billed as the presidential campaign.  The capper came on Monday, when in response to the FBI ending its investigation of Hillary Clintons email transgressions, the Dow magically rallied back to 18,200, a level which had been defended for months by the powers that be…
  • This is “Unusual Outside a Recession Period”: New York Fed Grapples with Weak Demand
    The dollar has strengthened against other currencies since mid-2014 as the Fed was tapering QE Infinity out of existence, and as it began flip-flopping about rate increases. Dollar strength should have done two things in terms of international trade: Weaken exports as US goods would become less competitive for buyers using other currencies; Strengthen imports as imported goods would be cheaper compared to US-made goods. The first has happened. But the second has not happened: Imports have been in a down-trend since mid-2015.
  • Uncertainty and uncertain outcomes bode well for gold
    A lot of us were looking forward to today, it signals the last day of election-mania and we might all be able to get on with our lives, whatever that means under whoever wins. The problem is, today might not be the last day of uncertainty. Trump has already said that he will keep us in suspense as to whether or not he will accept a Clinton win, this has been followed by many cries of ‘rigged’ from both Trump and his cohort. The other factor is that the election might be so close that it is too close to call and we see another Bush-Gore debacle. Should there be an unclear winner tomorrow, or if Trump wins, then what will this mean for gold?
  • As The World Awaits The U.S. Election Outcome, Buckle Up For Some Rough Times
    As the world awaits the outcome of the election in the United States, buckle up for some rough times. James Turk:  “Everybody who I speak with here in London, Eric, asks me about the US election. I’ve never seen anything like the amount of interest it has sparked. Without any doubt the election has grabbed the attention of people from around the world…
  • ALERT: Former Soros Associate Just Warned This Is Going To Send The World Into Total Chaos
    As investors await the outcome of tomorrow’s election, a former associate of George Soros just warned King World News about what is going “to send the world into total chaos.” Victor Sperandeo manages over $3 billion, has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros.  Below is what Sperandeo had to say. Victor Sperandeo:  “The days of low interest rates are over.  This is very important for people to understand, Eric.  There will be no more lowering of interest rates and QEs…
  • Keiser Report: Picking next ‘tin-pot’ for America
    We discuss pushing tinfoil and possible election outcomes. Max talks to the people of New York by visiting Times Square and finds not only a divided electorate but a colourful and . . . sometimes angry one. In the second half Max talks to Chris Whalen about his reasons for voting for Trump and whether or not a Clinton 2.0 would actually be a Nixon 2.0.
  • Look At What Is Unfolding In China And Other Key Regions Right Now
    With stocks surging along with the U.S. dollar and gold and silver getting hit, here is a look at what is unfolding in China and other key regions right now. Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness:  It IS the best of times, it IS the worst of times, it is the age of wisdom, it is the age of foolishness, it is the epoch of belief, it is the epoch of incredulity, it is the season of light, it is the season of darkness, it is the spring of hope, it is the winter of despair, we have everything before us, we have nothing before us, (I switched the Tale of Two Cities lines from Was to Is and to Have from Had), etc… The former because the most bizarre and embarrassing presidential campaign in our life time is about to end. The latter because someone is going to win…
  • What Hath Trump Wrought?
    “If I don’t win, this will be the greatest waste of time, money and energy in my lifetime,” says Donald Trump. Herewith, a dissent. Whatever happens Tuesday, Trump has made history and has forever changed American politics. Though a novice in politics, he captured the Party of Lincoln with the largest turnout of primary voters ever, and he has inflicted wounds on the nation’s ruling class from which it may not soon recover. Bush I and II, Mitt Romney, the neocons and the GOP commentariat all denounced Trump as morally and temperamentally unfit. Yet, seven of eight Republicans are voting for Trump, and he drew the largest and most enthusiastic crowds of any GOP nominee.
  • This is Going to End Badly, Buy Gold Now
    Most assets by traditional valuations are overpriced. Now are they overpriced compared to zero interest rates or negative interest rates? If you take the 10-year German bonds or the 10-year Swiss bonds or the 10-year Japanese bonds, you have no or negative yield. But you can buy equities that give you a dividend yield of 2 percent or more. Then you say stocks compared to negative interest rates are a bargain. But they are not cheap by traditional valuation methods. However, I think it’s dangerous for someone to say: “We all agree that it will end badly, so we keep 100 percent of our money in cash.” First, you have to decide which cash.
  • Paranoia Deepens in US as Cyber-attacks Prepare Post-Election Tumult
    Paranoia makes whole populations manipulable. Over time, crisis after crisis, it builds globalism and creates cultural homogenization. Just today, WikiLeaks claimed it had been hit with a Distributed Denial of Service (DDoS) attack, supposedly to prevent it from distributing additional information that would prove negative to the Clinton camp. This is part of a much larger paranoiac atmosphere. Paranoia is running rampant in US federal elections. We recognize the paranoia because we’ve covered the trends that cause it for years.
  • The Destiny Of The World
    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, spoke with King World News about the destiny of the world. Egon von Greyerz:  “Eric, the destiny of the world economy is not going to be determined by what happens to Brexit or the U.S. election.  Of course the election can be a catalyst but it won’t be the reason for what will happen next.
  • Will The Globalists Allow Trump to Win The Selection – Financial Survival Network
    Jeff is interviewed by Kerry Lutz for the Financial Survival Network. Topics include: Hillary Clinton owned by the elite, Brexit shows that the elite are starting to lose control, people wanting change, Trump an insider, if elected nothing much will change, may be allowed to win, doesn’t really matter who wins, Clinton on her last legs but Trump highly energetic, an entertaining election, media manipulation, the G7 and Bilderberg, election 2017!
  • Feeling The Oil Crunch: Saudi Arabia Cancels $266 Billion In Projects
    Saudi Arabia’s governing economic body called the Council of Economic and Development Affairs (CEDA) has cancelled $266.7 billion in projects, the Saudi Press Agency said, and announced it would be settling much-delayed private-sector payments by year end. The projects that have been canceled are the ones that are not expected to accelerate the kingdom’s growth or improve the living standards for its people. The cancellations were first considered in September, but at the time, it was noted that only $20 billion in projects would be considered to put on the chopping block. The size of the delayed payments—mainly due to severe hits to the kingdom’s oil revenue—remains undisclosed, but it includes delayed payments to construction firms, medical establishments, and foreign consultants. One analyst, according to Reuters, estimated that the amount still owing just to construction firms was US$21 billion. The 2016 budget deficit will not be known until late December, when Saudi Arabia announces its 2017 budget plan.
  • Pope Francis is at it Again
    As if there are not enough sufficient reasons for right thinking individuals to want a Donald Trump Presidency, one of the biggest is that it would be a direct and quite necessary rebuke and humiliation of the purported head of the Catholic Church, Pope Francis. Bergoglio has once again injected his neo-Marxist self into areas where he has no right to interfere.  Of course, this has never stopped this cretin from doing so before, especially when it comes to liberalistic causes such as climate change.   Whatever happened to popes that preached the Gospel, spoke of the saints, or expounded on doctrine? In a speech given at the Vatican on November 5, Bergoglio spoke of not giving into those politicians who talk of building walls, but those who work to build bridges.  He condemned “physical and social walls” that “close in some and exclude others” and added: “mercy is the best antidote against fear” while it “is much more effective than walls, than barbed wire fences, than alarms and arms, and it is free.  It is a gift of God.”
  • America’s Ruling Elite Has Failed and Deserves to Be Fired
    America’s Ruling Elite is freaking out because a significant percentage of the American public is trying to fire them. The Ruling Elite has failed and deserves to be fired, and deep down, they know it–and this awareness of their self-serving failure fuels their panic and their loathing of the non-elite Americans who are trying to fire them. If you think this chart of soaring student loan debt is a sign of “success,” you are 1) delusional 2) protected from the dire consequences of this failure 3) getting your paycheck from this failed system. That in a nutshell is the state of the nation: those who are protected from the consequences of failure are loyal to the Establishment, as are the millions drawing a paycheck from systems they know are irredeemable failures.
  • WARNING: Don’t Worry If the Stock Market Goes Crazy After Election
    In the hours after the president is elected, equity investors need to brace for volatility. What they shouldn’t do is panic. That’s because regardless of how prices react on Nov. 9, next-day moves in the S&P 500 Index are useless in telling what comes after. While the index swings an average 1.5 percent the day after the vote, gains or losses over the first 24 hours predict the market’s direction 12 months later less than half the time.
  • The cost of this Congressional seat increased 23.5x in 6 years.
    What do you think have been the best performing assets over the past several years? Perhaps it’s Facebook stock, whose price is up 3.2x since it debuted in 2012. Or maybe Apple, whose stock has soared 4x since 2010. But neither of those companies’ stock performances holds a candle to Colorado’s sixth Congressional district. Back in 2010 when incumbent Rep. Mike Coffman handily won the race, total election spending that year, including funds from PACs and other outside groups, totaled $758,926. Fast-forward six years, and Colorado’s 6th district is now fetching $17,866,308 in total election spending. That’s a 23.5x increase in just six years, putting Apple’s stock performance to shame.
  • Stock Market Volatility, Gold and the Election
    Before this Monday, the S&P 500 Index went down nine days in a row. While this was almost unprecedented (or in any case, a very rare event) the decline was quite small overall. The timing of the pullback and the subsequent strong rebound on Monday suggests that Mr. Comey’s letters to Congress regarding the FBI investigation into official emails by Hillary Clinton – which have found their way unto a computer owned by Anthony Weiner (the former husband of Clinton’s right-hand woman Huma Abedin) –  were the “trigger” for these moves.
  • We're In An Asset Bubble With Good Chances Of Popping: Structured Finance Consultant Janet Tavakoli
    Artificially low interest rates push investors into stocks in a precarious bubble. No large banks engaged in derivatives have a good grasp of their risk. Post-financial crisis changes are cosmetic, financial system not safer. Wall Street has bought Washington. Why bank managers in scandals are ever punished. Captured, compliant zombies won’t challenge gross misrepresentations of economic facts.
  • For Deutsche Bank, This Is The “Brexit Panic” Signal In Today's Election
    While pre-election polls overhwhelmingly give Hillary Clinton the advantage ahead of tonight's result, with Reuters reporting “Clinton has 90 percent chance of winning: Reuters/Ipsos States of the Nation”, many banks and brokers – still hurting from the Brexit calamity – aren't taking chances. Some of the more prominent industry names, such as Morgan Stanley, JPMorgan and Goldman Sachs are bracing for potential tumult on financial markets after Tuesday's U.S. election should Trump win. As the outcome of the most bitterly fought U.S. presidential elections starts to roll out by Wednesday in Asia, the regional markets will be the first to trade on the results. Reuters writes that as a result, Asia-focused banks HSBC and Japan's Nomura Holdings Ltd are among institutions boosting staff levels, while others are raising the margin requirements for trading to cope with a possible spike in volume or volatility.
  • Major Money Managers Are Hedging Against a Trump Presidency
    From Tyler Durden: Major bankers around the world are prepping for the potential fallout from a Donald Trump presidency, despite Hillary Clinton seemingly firmly ahead in the polls. While pre-election polls overwhelmingly give Hillary Clinton the advantage ahead of tonight’s result, with Reuters reporting “Clinton has 90 percent chance of winning: Reuters/Ipsos States of the Nation“, many banks and brokers – still hurting from the Brexit calamity – aren’t taking chances. Some of the more prominent industry names, such as Morgan Stanley, JPMorgan and Goldman Sachs are bracing for potential tumult on financial markets after Tuesday’s U.S. election should Trump win.
  • Collapse: Elite Planning An Engineered Reset?
    Jeff Berwick  joins SD to discuss the coming economic collapse. Berwick believes TPTB realize the system cannot survive and are going to engineer a collapse. He says governments around the world, international organizations, and billionaires realize the writing is on the wall & are preparing for the coming crisis…
  • Private Militia Groups Actively Preparing For Fraudulent Hillary Win
    Tomorrow is the day that could forever change the trajectory of this country, and there is certainly no shortage of people who have theories on how the day will end, or who will emerge victorious. With less than 36 hours until the polls close, one thing is certain: Anyone who planned on being prepared for the potential of massive civil unrest, had better have done so already. In the following video, I am joined by a very special guest, Ronnie McMullen, who has made it his life’s work trying to counter the negative side effects of what one of Hillary Clinton’s largest supports is producing. Ronnie joins me to discuss what how several possible election scenarios could play out, and what each could mean for the future and the health of the country.
  • Julian Assange Issues Statement On The US Election
    In recent months, WikiLeaks and I personally have come under enormous pressure to stop publishing what the Clinton campaign says about itself to itself. That pressure has come from the campaign’s allies, including the Obama administration, and from liberals who are anxious about who will be elected US President. On the eve of the election, it is important to restate why we have published what we have.
  • This Election Marks the Beginning of Volatility
    Volatility is high going into this election (because nobody knows what will happen, and there is a lot at stake). People think that after the election, the uncertainty will be out of the way, and volatility will subside. Will it? Here are the ways this election could go wrong. Let’s think about this a little bit.
  • Bill Holter and Jim Sinclair on the Looming Global Economic Collapse
    Recently, Greg Hunter was fortunate enough to be interviewed by legendary investors Jim Sinclair and Bill Holter from JSMineset.com. During the first portion of the interview, Bill and Jim ask Greg Hunter from USA Watchdog a series of questions in an attempt to get his opinion on the state of “journalism” as a whole, or what some would more properly refer to as “propaganda” if it’s coming from the mainstream media. Jim and Bill also do their best to get a read on what many of the other guests have predicted about the economy over the last few months when they've had the chance to visit with Greg on USA Watchdog.
  • Voting Machine “Irregularities” Reported in Utah, Tennessee, Pennsylvania, & North Carolina
    Who could have seen this coming? People in numerous states reported problems voting Tuesday due to faulty machines, according to numerous news sources. Pennsylvanians told CBS News their vote for Trump was changed to Clinton…
  • Early Voting Results In Key Battleground States Appear To Favor Donald Trump
    If you want Donald Trump to win the election, then you have got to be encouraged by what you are seeing so far.  Early voting has already been going on in a number of the most important battleground states, and up to this point the numbers seem to support the theory that Donald Trump is doing significantly better in key swing states than Mitt Romney did in 2012.  As you will see below, the latest numbers released by Florida, North Carolina, Colorado and Arizona all have good news for the Trump campaign.  Without a doubt, I still have an ominous feeling about what is going to happen tomorrow night, but so far at least there are some encouraging signs.
  • Your Complete Guide To Election Day And Night: What To Watch For And When
    It's almost over: the most divisive, theatrical, dramatic and dirty presidential campaign will be in the history books in just a few hours, with more than 130 million Americans expected to cast ballots across 50 states. However, just winning the popular vote will be insufficient: indeed, it may well be that the popular-vote winner does not win the electoral college. So which states should one be looking at, and how long is the final day's drama set to continue? For the benefit of the traders out there, last week we showed a primer from Citigroup explaining when traders can hope to go home on election evening, according to which it was “all about Florida, North Carolina and Ohio.”
  • Hillary Clinton Is Spirit Cooking The US
    I heard the term “spirit cooking” for the first time a few days ago.  At first I assumed it was some form of culinary style that was done in a spiritual way. Boy was I wrong. Reports on the internet are actually referring to a meal involving “blood, sperm and breastmilk.” The term was mentioned in an invitation to John Podesta, chairman of the Clinton campaign. Podesta didn’t go to the dinner involved, apparently, but the term and its ingredients made considerable news on the internet. As I thought about the term more and more it seemed to be an appropriate fit for the Clinton campaign. This became especially clear in the news earlier today when the FBI managed to “review” 650,000 emails in nine days (after taking a year to review 33,000 previous ones) and they also determined that none of them would have an impact on their July decision to clear Hillary Clinton of “leaking” classified documents.
  • Europe's New Blasphemy Courts
    Europe is currently seeing the reintroduction of blasphemy laws through both the front and back doors. In Britain, the gymnast Louis Smith has just been suspended for two months by British Gymnastics. This 27-year old sportsman's career has been put on hold, and potentially ruined, not because of anything to do with athletics but because of something to do with Islam. Last month a video emerged online of the four-time Olympic medal-winner and a friend getting up to drunken antics after a wedding. The video — taken on Smith's phone in the early hours of the morning — showed a friend taking a rug off a wall and doing an imitation of Islamic prayer rituals. When the video from Smith's phone ended up in the hands of a newspaper, there was an immediate investigation, press castigation and public humiliation for the young athlete. Smith — who is himself of mixed race — was forced to parade on daytime television in Britain and deny that he is a racist, bigot or xenophobe. Notoriously liberal figures from the UK media queued up to berate him for getting drunk or for even thinking of taking part in any mockery of religion. This in a country in which Monty Python's Life of Brian is regularly voted the nation's favourite comic movie.
  • Nigel Farage forced to admit that the EU referendum was only ‘advisory'
    Nigel Farage was forced to admit the referendum on leaving the EU was only “advisory” after he clashed live on TV with the lead claimant in a legal challenge to the Government on the issue. The Ukip leader and Gina Miller, whose efforts led the High Court to rule against Theresa May’s right to trigger Article 50 without consulting Parliament, both appeared on the Andrew Marr Show on Sunday morning. After the pair had both been interviewed separately, Mr Farage challenged Ms Miller saying: “I just want to ask her – what part of the word ‘leave' don't you understand?”
  • Rigged vote-counting is the Holy Grail of collectivism
    The mantra of collectivism is: “The greater good for the greater number.” The idea is that anything can be justified as proper and moral, even deception, theft, denial of rights, and killing innocent people, if it is claimed that these things are done for the good of society or the nation. That is the moral code that allows national leaders to lie about anything and commit horrendous crimes against their own countrymen under the excuse of ‘national security’.
  • The Bond Bubble Might Finally Be Bursting
    For years, global central banks have pushed back with extraordinary easy-money policies, delivering ultra-low and even negative interest rates worldwide. And for years, financial commentators … including my colleagues Larry Edelson, Mike Larson and myself … have been predicting this will end very badly one day – when the spell of omnipotent central banks is forever broken and investors reject government debt of any kind. Well, 2016 may go down in the financial history books as a real game-changing year: The end of the great bull-market bubble in bonds.
  • Stocks Will Likely Crash If Trump Wins
    Analyst Chad Shoop explains why the markets will likely sell off considerably if Donald Trump wins next week’s election, and what investors can do to hedge against the pullback. When I want to make sure my 7-year-old son has put thought into a debate we are having, I put money on the table. It doesn’t matter if we are debating whether or not a wide receiver got both feet inbounds, or if my son’s done his chores for the week. He will tell me whatever I want to hear at first — that he made his bed or cleaned up his room. But the second I say, “You owe me $20 if it’s not done,” he will think about it more, or run to his room to check. Putting money on the line makes it real to him.
  • Anarchast: The Libertarian Take on the North Dakota Pipeline Dispute with Derrick Broze
    Jeff interviews Derrick Broze, topics include: Derrick was at the Dakota access pipeline project protests, the Standing Rock Sioux resistance movement, a collision of cultures, sacred burial sites, stopping the pipeline, water is life, the biggest indigenous solidarity movement in history, the red power movement, property rights, the state is working with the oil companies, the land was never ceded, Iowa farmers also resisting, stateless environmental protection, first hand account of the protests including provocateurs, state violence and police militarization, freedom cells, agorism, spiritual ties to the land, a better life for all.
  • Billionaire Fund Manager Expects Stocks to Plummet 80% – But When?
    One of the trends TDV watches closely is the inevitable unraveling of markets, especially equity markets. The stock market has been weaponized by disastrously low interest rates and it is only a matter of time before catastrophe occurs. Just a matter of months, weeks, days or hours. We’re not debating the magnitude of the catastrophe anymore, just the timing. Of late, the markets have been looking increasingly shaky. In fact the VIX volatility index is up while many major indices are down.
  • The Presidential Cycle
    The market has been very readable since before Brexit.  It was over bearish and due for a post-Brexit rally check. It was due for a drop to test major support check, but amid last week’s highly broadcast 9 straight down days and the renewed Clinton email scare, it was due for a bounce from over bearish status check. However, this is not the end of the story. We remain on a test of major support unless certain upside resistance parameters are taken out. Beyond this highly volatile phase, we are likely either going to confirm major support and potentially break out to new highs or a bear market will ensue. Figuring prominently in the short-term is the US election. Here is NFTRH 420’s weigh-in on something I almost never want to comment on but did in this week’s report, given Donald Trump’s ‘overbought’ status last week.
  • Civil War II – Fourth Turning Intensifying
    As we enter the final stretch of this vitriolic, deplorable, venomous, propaganda saturated, deceitful, rigged presidential election spectacle, it becomes painfully obvious this Fourth Turning is careening toward bloodshed, bedlam, confrontation, and civil war. The linear fixated establishment, who fancy themselves intellectually superior to the irredemables, are too blinded by their sociopathic, increasingly audacious subversion of the Constitution, to grasp the level of rage and disillusionment of a white working class that has been screwed over for decades.
  • Reforming the Fed: Where the Candidates Stand
    With presidential candidates, sometimes it’s tough to cut through the political minutia to find out what they think about important issues. The debates didn’t seem to shine much of a light on topics like the Federal Reserve and interest rates, so here’s a quick look at how Clinton and Trump are leaning when it comes to reforming the Fed.
  • Will The Election End America’s Torment?
    Enemies of the United States are joyously watching its upcoming elections that are exposing this once great nation as deeply corrupt.  It’s as if a huge rock has been turned over, exposing the swarming, slithering underside of America’s political system. For those who admire America, like this writer, this week is a time to weep for the republic. We see two candidates who are utterly unfit for the highest office:  Hilary Clinton, engulfed by scandals, and blustering TV mogul Donald Trump, a man of profound shallowness who advocates Islamophobia, torture, and environmental ignorance.
  • Clinton Foundation Head Accused Chelsea Of Using Funds For Wedding, Campaigning, And Avoiding Taxes
    Doug Band, the former top aid to Bill Clinton who helped found the Clinton Global Initiative, accused Chelsea Clinton of illegal activities by using foundation money to pay for her wedding and getting paid to campaign, all while avoiding paying taxes. After Chelsea had launched an investigation into the foundation’s finances under Band’s control, an angry Doug Band email Hillary Clinton’s campaign chairman John Podesta to complain. Band called Chelsea’s actions, “not smart.”
  • Everybody Is Telling Me That Trump Is Going To Win – So Why Do I Have Such An Ominous Feeling?
    I hope that I am wrong.  On Tuesday night we will find out who our next president will be, and I have a very ominous feeling about what is going to happen.  But all around me there are people telling me that Trump is going to win.  They tell me to disregard the polls because they cannot be trusted, and that very well may be true.  They tell me that new voters and independent voters will overwhelmingly vote for Trump, and they tell me that it is obvious that Trump has more enthusiasm for his campaign because of the size of his rallies.  I have even heard some people say that God told them that Donald Trump is going to win the election.  Well, we will find out on Tuesday night who was right and who was wrong.  Personally, I don’t know what is going to happen, but I am quite skeptical of Trump’s chances and I can’t shake this ominous feeling about what Tuesday night will bring.
  • Trump Reportedly Lining Up Septuagenarians Giuliani and Gingrich for Cabinet
    If Donald Trump bucks the odds and wins tomorrow’s election, he’s planning to offer cabinet positions to a handful of fiercely loyal surrogates who refused to jump ship during his often messy campaign. Among them are former New York City mayor Rudy Giuliani and onetime Speaker of the House Newt Gingrich, NBC News reports.
  • Nevada Penalizes Solar Energy Users With Hefty 40% Tax Increase
    An absurd monthly fee imposed on solar customers was just voted in by the Nevada Public Utility Commission (PUC), virtually penalizing net metering (NEM) users of the renewable energy and in a sense, screwing these guys over after making the investment to go solar. Yip-dee-doo! Photo credit: Kristine Lavine, Denver Business Journal. Such is the current state that Nevada is in right now after it turns out that consumers opting with solar energy in the state are eating up on the potential profit that NV Energy should have. And in order for the company to combat this, they were able to coerce lawmakers to make solar energy insanely expensive – in hopes of convincing people to just stay blindly on the grid and stop being so ‘hippy’.
  • New Study Highlights Environmental Impacts Of Green Energy
    Wind and solar power aren’t as environmentally friendly as green energy activists often claim, according to a new study by scientists at Uppsala University in Sweden. Researchers noted that wind turbines and solar panels are made of non-renewable resources that have to be dug out of the ground. Both solar and wind power use a lot of land and water, leading to habitat destruction. Additionally, hazardous materials like sulfuric acid and toxic phosphine gas factor in heavily in solar panel manufacturing. Modern wind turbines are also highly dependent on rare earth minerals mined primarily from countries with poor environmental records, like China.
  • UNSG hails Paris Climate Agreement entry into force
    United Nations Secretary-General Ban Ki-Moon as hailed the entry into force of the Paris Climate Agrement and its speedy ratification by 96 countries around the world. “Today we make history in humankind’s efforts to combat climate change,” Ban told a gathering of activists combating climate change at UN Headquarters in New York. He compared the Paris Climate Agreement, which was agreed to in December 2015 as having been done in “record time” when compared to the Kyoto Climate Agreement of 1997, which took eight years to come into force and was largely dismissed even by some of its signatories.
  • How Donald Trump Helped the Paris Climate Deal Become Law Ahead of Schedule
    The U.N. global climate deal known as the Paris Agreement came into legal force on Friday, nearly a year after dozens of countries agreed to it in marathon negotiations in the French capital. The goal of the accord is to limit global warming to below two degrees Celsius above pre-industrial levels. Many scientists believe that any increase above that mark will cause major disruption to the Earth’s climate. So far, 95 countries have signed the deal. That includes the United States. President Obama made climate change a key item of his agenda, pushing China to join the effort, and signing the Paris Agreement in August. Donald Trump, however, has vowed to withdraw the U.S. from the deal if he is elected President on Tuesday, and has slammed the Paris Agreement on the campaign trail. As far back as 2012—in one of his now-famous tweet-storms—Trump called climate change “bullshit” and a “hoax,” saying that China had fabricated the issue in order to boost their own industries and undermine American competitors.
  • ‘The beginning of a new era': World reacts to Paris Agreement coming into force
    Green businesses and industry groups have wholeheartedly welcomed the official enforcement of the Paris Agreement, but environmental groups and other experts are now urging governments to go beyond the ambition of the deal in order to avoid catastrophic climate change. The Agreement comes into force today (4 November), with governments agreeing to keep the global temperature rise to 2C above pre-industrial levels – and preferably 1.5 degrees. This is the culmination of the global climate deal agreed in the French capital less than a year ago, which effectively commits countries and businesses to move away from fossil fuels.
  • Big Oil Promises $1 Billion In Climate Change Fight
    A host of oil supermajors announced on Friday that they would allocate US$1 billion for fighting climate change over the next ten years. The effort, called the Oil and Gas Climate Initiative, involves BP, Shell, Aramco, Total, Eni, Statoil, Repsol, CNPC, Pemex, and Reliance Industries. Among the priorities of the initiative are cutting methane emissions from oil and gas pipeline leaks, and accelerating the development of carbon capture, use and storage technology. The money that the ten companies pledged will be collected in a fund, OGCI Climate Investments, which will partner with businesses from the transport and other energy-intensive industries in a bid to improve energy efficiency in these sectors.
  • Paris Climate Change Deal Becomes International Law
    The Paris Agreement to combat climate change became international law on Friday — a landmark deal about tackling global warming amid growing fears that the world is becoming hotter even faster than scientists expected. So far, 96 countries, accounting for just over two-thirds of the world's greenhouse gas emissions, have formally joined the accord, which seeks to limit global warming to 2 degrees Celsius (3.6 degrees Fahrenheit). More countries are expected to come aboard in the coming weeks and months. Secretary General Ban-Ki moon commemorated the event, talking with civil society groups at U.N. headquarters in New York to hear their concerns and visions for the future. “Today we make history in humankind's efforts to combat climate change,” Ban said before opening the meeting.
  • The Paris climate agreement and why it matters
    Almost 200 governments signed an unprecedented agreement last year to phase out fossil fuels in favour of renewable energy in the second half of the century. This agreement, signed in the French capital and seen as a turning point for global climate policy, comes into force on Friday. Al Jazeera explains why the deal matters and what it means for the future.
  • The Paris climate change agreement: how will it affect you and your pay packet?
    In early October 2016, 55 countries with 55 per cent of the world’s greenhouse gas emissions ratified the Paris climate change agreement. On November 4, it came into force. The main long-term goal is to keep the increase in global average temperature to well below 2°C above pre-industrial levels. But what does meeting the Paris aims look like in the short-term, within our lifetimes?
  • The Paris Agreement: Now We Need to Move the Money
    At the recent United Nations General Assembly in New York, Secretary General Ban Ki-moon predicted the Paris climate agreement would enter into force before 2017, announcing 60 countries had now ratified its terms. Last week, the International Monetary Fund and World Bank welcomed an influx of finance ministers and central bankers, to its annual meetings in Washington DC. At first glance, these two events might appear totally unrelated. The ratification of the Paris Agreement – a global deal to keep global temperature rise below 2°C – is a huge achievement and a real triumph for multilateralism. It also focuses the mind on the next step: how the Agreement will be implemented across the world?
  • Giuliani Rages At FBI Decision “We Are Supposed To Be A Country Of Justice”
    Former New York City Mayor Rudy Giuliani appeared on Fox News’ Sean Hannity Show Sunday, to talk about how out of place the Director of the FBI James Comey’s remarks were regarding the Clinton investigation. As Intellihub's Shepard Ambellas reports, Giuliani said that back in July there was already “overwhelming evidence” that Hillary Clinton “violated the law.” ‘Now in November we are hearing that she had her maid print out classified material routinely.’ “So if she was completely reckless back in July, the new revelation makes the situation much worse,’ Giuliani told Hannity.
  • Election Prediction 2016: Current Trend Lines Show Trump Will Win in Landslide
    So what is going to happen on November 8? On April 2nd of this year we predicted that Ted Cruz would be mathematically eliminated from the Republican race for President on April 27th because on that day he would need more delegates than would be available. We also predicted that on April 27th Donald Trump would accumulate 943 delegates which would put him well on track to win the Republican nomination. April 27th came and Ted Cruz was eliminated and Trump had amassed 944 delegates (which later was updated to 950 delegates). We were spot on!
  • Newsweek Calls It: “Madam President Clinton” Hits The Shelves Due To A “Business Decision”
    With still over a day to go until the earliest possible result from tomorrow's presidential election, a part of the blogosphere and conservative media was up in arms over a commemorative Newsweek cover depicting “Madam President” which appeared in print as early as Saturday. As Infowars reported, a Twitter user who works at a bookstore tweeted the images with the comment, “I work at a bookstore and we typically get magazines early and lookie what we got here.” and then adds that “her Twitter account was subsequently deleted after reporter Luke Costin chastised her for “fueling Trumpists’ hysteria about “rigged” #Election2016.”
  • Can The Oligarchy Still Steal The Presidential Election? — Paul Craig Roberts
    The election was set up to be stolen from Trump. That was the purpose of the polls rigged by overweighting Hillary supporters in the samples. After weeks of hearing poll results that Hillary was in the lead, the public would discount a theft claim. Electronic voting makes elections easy to steal, and I have posted explanations by election fraud experts of how it is done. Clearly the Oligarchy does not want Donald Trump in the White House as they are unsure that they could control him, and Hillary is their agent. With the reopening of the FBI investigation of Hillary and related scandals exploding all around her, election theft is not only more risky but also less likely to serve the Oligarchy’s own interests. Image as well as money is part of Oligarchic power. The image of America takes a big hit if the American people elect a president who is currently under felony investigation.
  • Can U.S. Elections Really Be Stolen? Yes.
    Is election theft possible in the United States? And might the suspects live closer to home than the Kremlin? Professor Mark Crispin Miller, author of numerous books and articles on computerized election fraud, explores the very real possibilities.
  • Benghazi guards turned on US diplomats in 2012 attack, sources say
    An obscure private firm hired by the State Department over internal objections to protect U.S. diplomats in Benghazi just months before the American ambassador and three others were killed was staffed with hastily recruited locals with terror ties who helped carry out the attack, multiple sources told Fox News. The explosive charge against Wales-based Blue Mountain Group comes from several sources, including an independent security specialist who has implemented training programs at U.S. Consulates around the world, including in Benghazi, where he trained a local militia that preceded Blue Mountain. The source, who spoke on condition of anonymity, said Blue Mountain used local newspaper ads to assemble a team of 20 guards, many of whom had terror ties, after securing a $9.2 million annual contract.
  • State Dept. Has up to 31,000 Pages of New Clinton Records from the FBI’s Investigation; Wants Five Years to Process Them
    Judicial Watch President Tom Fitton made the following statement regarding developments during today’s court hearing concerning Judicial Watch’s Freedom of Information Act (FOIA) lawsuit seeking emails sent or received by former Secretary of State Hillary Clinton in her official capacity during her tenure as secretary of state: ‘The Obama State Department is doing a political favor for Hillary Clinton for suggesting to a federal court today that Judicial Watch wait as long as five years to see up to 31,000 new Clinton documents found by the FBI.  We learned in this lawsuit that the State Department is slow-walking the release of Hillary Clinton’s deleted and hidden emails.  Ironically, this Clinton/Obama State Department stonewalling has guaranteed that the Clinton email scandal won’t be resolved for years.' The court has set the next hearing in this case for November 29 to discuss the status of 650,000 emails reportedly found on the computing devices of Huma Abedin and Anthony Weiner.
  • Fed Up Friday: FOMC Revisions Likely, Regardless of Election Result
    With the election looming, the Fed met all expectations of delaying a rate hike in November. Whether or not a hike happens in December, the benefit to owning gold is that “real” interest rates could stay low or negative regardless of the outcome. Learn about all that and more in this week’s Fed Up Friday.
  • I Just Lost All Faith In Our Deeply Corrupt Legal System And In The Rule Of Law In The United States
    The FBI just gave Hillary Clinton the biggest gift in the history of presidential politics. Two days before the election the FBI has announced that they are ending their investigation into Hillary Clinton’s mishandling of classified information. After reviewing the emails that were found on electronic devices owned by Huma Abedin and Anthony Weiner, FBI Director James Comey sent a letter to Congress telling them that “we have not changed our conclusions that we expressed in July with respect to Secretary Clinton.” That means that there will be no indictment, and the path is now clear for Hillary Clinton to become the next president of the United States on Tuesday unless an election miracle happens.
  • A Digital 9/11 If Trump Wins
    There are disturbing signs that a digital 9/11 terror attack is being readied for election day in the US to ensure that Donald Trump does not win. Such an attack – involving widespread internet and power outage – would have nothing to do with Russia or any other foreign state. It would be furnished by agencies of the US Deep State in a classic “false flag” covert manner. But the resulting chaos and “assault on American democracy” will be conveniently blamed on Russia. That presents a double benefit. Russia would be further demonized as a foreign aggressor “justifying” even harsher countermeasures by America and its European allies against Moscow.
  • Fact file: BRICS drive the global economy
    BRICS nations – Brazil, Russia, India, China and South Africa – account for 43 per cent of the world’s population and 25 per cent of the global economy. Despite a global economic slowdown, BRICS has been a main economic engine for the world economy. Countries such as Brazil and Russia, which struggled with recession in the past two years, are expected to turn the corner and post GDP growth in 2017. Russia’s GDP contracted 1.2 per cent in Q1 2016 but that slowed to 0.6 per cent in Q2, according to data from the Rosstat federal statistics service. This is a marked improvement to its 3.7 per cent contraction in 2015; it contracted 3.8 per cent in Q4 in 2015.
  • She’s guilty and she knows it, Trump rages as FBI clears Clinton over emails
    Furious Donald Trump has accused the FBI of impropriety after the bureau cleared US presidential rival Hillary Clinton of criminal wrongdoing in a new email probe, lifting a cloud hanging over the Democrat as America goes to the polls on Tuesday. FBI director James Comey told the US Congress on Sunday that the bureau found no evidence to warrant criminal charges against Mrs Clinton in a trove of newly-discovered emails. But Republican Mr Trump told supporters it would have been impossible for the FBI to review what has been reported to be as many as 650,000 emails in so short a time and said Mrs Clinton was being protected by “a rigged system”.
  • “More than a Dozen” Drugmakers under Criminal Investigation for Price-Fixing, Shares Plunge, after Getting Crushed All Year
    The digital ink wasn’t dry yesterday on my article on How PE Firms Are Flipping Drugs in Price-Gouging Scheme that Cannibalizes the Entire US Economy, when Bloomberg reported that US prosecutors “are bearing down” on “more than a dozen” drugmakers “in a sweeping criminal investigation into suspected price collusion.”
  • Donald Trump's Argument For America
  • How PE Firms Are Flipping Drugs in Price-Gouging Scheme that Cannibalizes the Entire US Economy
    The ravenous price increases that pharmaceutical companies slap on their medicines are part of the reason the US health care system is eating an ever larger slice of consumer, corporate, and government spending, and why the rest of the economy has trouble moving forward. Some of the price increases have turned into scandals with plenty of mouth-wagging by politicians. Mylan got raked over the coals in Congress for raising the price of its autoinjector EpiPen seven-fold since buying it in 2007. Last year, Turing Pharmaceuticals, under Martin Shkreli, got into hot water over raising the price of just-acquired Daraprim 50-fold.
  • Another European Bank Becomes a Penny Stock
    Despite receiving some of the most generous public subsidies in recorded history, Europe’s financial sector continues to hemorrhage. In Italy, the total market value of Monte dei Paschi di Siena, the world’s oldest bank and Italy’s third largest, is a fraction over €500 million, as its shares hover just 23 European cents above zero. In the EU’s largest economy, Germany, the country’s only G-SIB (Global Systemically Important Bank), Deutsche Bank, has seen its stock plummet close to 90% in the last 10 years,from €117 to €12.30. This year alone it’s down well over 40%.
  • The Dollar Collapse Has Begun; U.S. Bank Failures Soon to Follow
    In Part I of this three part interview between Elijah Johnson and Dr. Jim Willie, the interview starts off by with Elijah asking Dr. Willie about the unprecedented dumping of U.S. Bonds by China and Saudi Arabia in recent weeks. By “unprecedented” dumping, Elijah is referring to several weeks ago when the markets witnessed never before seen numbers as $28 billion in U.S. Treasuries were dumped in a single week, followed by another $23 billion a week or so later.
  • Emails Warrant No New Action Against Hillary Clinton, F.B.I. Director Says 
    The F.B.I. director, James B. Comey, told Congress on Sunday that he had seen no evidence in a recently discovered trove of emails to change his conclusion that Hillary Clinton should face no charges over her handling of classified information. Mr. Comey’s announcement, just two days before the election, was an effort to clear the cloud of suspicion he had publicly placed over her presidential campaign late last month when he alerted Congress that the F.B.I. would examine the emails. “Based on our review, we have not changed our conclusions that we expressed in July with respect to Secretary Clinton,” Mr. Comey wrote in a letter to the leaders of several congressional committees. He said agents had reviewed all communications to and from Mrs. Clinton in the new trove from when she was secretary of state.
  • “Sell Everything Now” David Stockman Warns, America Faces “Total Disaster…Partisan Warfare”
    “Under a Trump victory, all bets are off,” warns former Director of the Office of Management and Budget under President Ronald Reagan, David Stockman. “I like [Trump] because he's against the establishment, but he has no economic program. Yes, he's a disruptor, but has nothing to disrupt with,” Stockman told CNBC, “if elected, it will be partisan warfare and a total disaster.” Stockman's message is clear, as CNBC notes, sell everything…
  • WikiLeaks Documents Coming From US Intelligence Not Russia, MSM & Democrat Party Dying
    There are numerous reports on the alternative media of documents being given to WikiLeaks to counter the corruption and lawlessness of the Obamas and Clintons. AG Loretta Lynch has been reportedly blocking an FBI investigation into the Clinton Foundation that many say is a “global charity fraud” and a “huge criminal conspiracy.”  The leaked emails and documents show corruption between the Justice Department and Hillary Clinton.  These documents and emails also show a grand cover-up of the true treason that has taken place in the highest offices of the U.S. government.
  • Value of Gold – Unlike Paper Currency Gold Has Maintained Its Value Throughout Ages
    The Value of Gold. “Unlike paper currency, coins or other assets, gold has maintained its value throughout the ages.” Jill Kerby, personal finance expert and Mark O’Byrne, Research Director of GoldCore were interviewed by Sinead Desmond of ‘Ireland AM’ on TV3 this morning about the “value of gold” as a store of wealth and financial insurance in our “electronic age”.
  • Chinese firms to begin ‘new Egypt capital’ in 2017
    Following months of speculation that the whole project had been scrapped, construction on Egypt’s New capital city by two of China’s biggest developers could begin as early as next year. The Egyptian government is targeting up to $45 billion in investments, and the agreements set to be finalized before the year’s end will bring the country closer to that target. Earlier this month, heads from China Fortune Land Development Company (CFLD) met with Egyptian President Abdelfattah Al-Sisi and agreed to provide $20 billion over the coming 10 years for the currently unnamed city mega project which is expected to break ground some 47 kilometers east of the current capital Cairo.
  • Egypt awaits IMF help amid FX shortage
    Egypt is reportedly weeks away from securing the first installment of its much-anticipated $12 billion loan from the International Monetary Fund as its currency continues to fall in the parallel market. Managing Director Christine Lagarde told reporters last week that “[Egypt has] almost completed” the actions required for the IMF board to review the loan accord. The board is expected to arrive in Cairo some time in early November to finalize a set of conditions that require Egypt’s compliance. The conditions include a host of economic reforms as well as confidence-building measures to help mitigate the debilitating impact of a foreign-currency shortage. One such stipulation is acquiring up to $6 billion from bilateral creditors.
  • Something Big Is Underway On All Fronts: “Within The Next Few Weeks The Future Of The United States Will Be Decided”
    As of this writing, the increased U.S. troop presence in Eastern Europe includes a battalion-sized element of American troops being emplaced in the Suwalki Gap, Polish territory that borders Lithuania in a 60-mile stretch of corridor.  The Russian Defense Ministry announced that 600 Russian and Belarussian airborne troops conducted training exercises in Brest, on the Belorussian-Polish border only a few miles from where the U.S. forces are deploying in Poland.  This on the heels of Britain deploying 800 men, tanks, and jets to Estonia, along with pledges of Challenger 2 tanks, APC’s (Armored Personnel Carriers), and drones.  Two companies of French and Danish Soldiers will join the British in the deployment to Estonia.
  • OPEC Chaos Sees Oil Prices Fall
    Oil prices settled at a six-week low on Thursday following several consecutive days of large price declines. The major catalysts this week were doubts over an OPEC deal and EIA data showing a record build up in crude oil stocks. The EIA said Wednesday that U.S. oil inventories rose by 14.4 million barrels last week, the largest gain in a single week since data collection began in the early 1980s. WTI plunged below $45 per barrel on the news and the five consecutive days of losses was the longest streak since June. The data could be misleading, however. The huge buildup in inventories came largely because weekly imports spiked. Imports rose by about 2 million barrels per day last week after several weeks of hovering at below-average levels. The import spike was partially affected by bad weather, including a hurricane, and could be an anomaly. If that is the case, crude stocks probably won’t gain at similar rates in the weeks ahead.
  • Every Asset Class Will Collapse: ‘You Need To Be Looking At Your Wealth In Terms Of How Many Chickens And How Much Gas You Can Buy’ 
    There’s no other way to put it. The system as we know it will collapse. This, argues Karl Denninger of the Market Ticker, is a mathematical certainty. In a recent interview with Future Money Trends Denninger touches on the various dire challenges facing America. From the Presidential election to the rampant corruption in our financial, political and healthcare systems, he pulls no punches and warns that the worst is yet to come unless real action is taken immediately. Failure to do so, says Denninger, will lead to a collapse of everything we consider to be a part of our current way of life.
  • OPEC Is Now Irrelevant – This Oil Price Plunge Is Different
    Not very long ago, oil prices traded at well below $20/b and OPEC anxiously came up with a mechanism which it termed as “OPEC Price Band' $22-$28/b”. The rationale for this price band, was that OPEC members would find it sufficient for the growth of their oil and gas industry while the price was high enough to meet their government budgetary requirements. However, only a few years after this mechanism was introduced, oil prices exploded upwards and OPEC was forced to abolish its own price band in favour of higher oil prices.
  • Gold may be real winner in US elections
    To the relief of some but the worry of many others the US election is now just days away. Unlike past elections this one appears to grown more uncertain and fraught the closer it gets. Since the FBI announced further investigations into emails associated with Hillary Clinton, her lead has narrowed and voters appear to be even more undecided. For some the decision is a fate worse than death, as Reuters reported, ‘Young Americans are so dissatisfied with their choices in this presidential election that nearly one in four told an opinion poll they would rather have a giant meteor destroy the Earth than see Donald Trump or Hillary Clinton in the White House.’
  • Oil Prices Set For Biggest Weekly Decline Since January
    Having scored the largest weekly drop in six weeks last week, oil prices have continued to crash this week too, and are heading to their largest weekly loss since mid-January 2016, amid growing U.S. inventory builds and lingering skepticism that OPEC can pull off a production cut deal. At the time of writing, the WTI Crude futures for December delivery traded down 0.02 percent at US$44.65, while Brent Crude prices were down 0.32 percent at US$46.20. In the previous five days, WTI Crude touched a high of US$48.74 on October 31 and a low of US$44.29, today—for a five-day loss of $4.45 per barrel. WTI Crude prices have dropped by 8.2 percent this week so far.
  • M&S to axe dozens of high street stores
    The new boss of Marks & Spencer (M&S) is to axe dozens of UK stores and stop selling clothing in others in a radical shake-up of its high street presence aimed at persuading the City that he can revive the fortunes of Britain’s best-known retailer. Sky News has learnt that Steve Rowe, who took the helm at M&S earlier this year, will announce next week that a substantial chunk of its UK store portfolio is to be reorganised, a move that will include the outright closure of a significant number of shops.
  • EXCLUSIVE: Trump's 13-year-old ‘rape victim' dramatically DROPS her case. Woman withdraws legal claim she was assaulted at Jeffrey Epstein sex party
    The woman who alleged that Donald Trump sexually assaulted her at billionaire pedophile Jeffrey Epstein's notorious ‘sex parties' in 1994 when she was a 13-year-old has dropped the civil lawsuit that was filed against him. Trump's legal team branded the allegations ‘disgusting at the highest level' and a ‘hoax' clearly framed to ‘solicit media attention or, perhaps… simply politically motivated'. She first sued Trump and Jeffrey Epstein under the name Katie Johnson on April 26 in California federal court and  filed an amended complaint in New York federal court in October, claiming she was subject to rape, criminal sexual acts, assault, battery and false imprisonment. The court papers offer no corroborative evidence that her claims are true.
  • Baker Hughes and General Electric Unite In Merger
    On Monday, two major industry companies made an official announcement: General Electric’s oil and gas sector will be merging with Houston’s own Baker Hughes in an effort to create a brand new “digital industrial services giant.” The deal, valued at roughly $32 billion, will unite the country’s biggest industrial company with the third-largest energy services giant in the world. The merger arrives just six months after Baker Hughes’ $35 billion acquisition by Halliburton was axed by the Justice Department due to anti-competition fears.
  • WikiLeaks Podesta emails: Rahm Emanuel used private email server to conduct government business
    Chicago Mayor Rahm Emanuel used a private email server to communicate with Democratic nominee Hillary Clinton’s campaign chair John Podesta, leaked emails reveal. Emanuel, a former House lawmaker who served early on in the Obama administration, sent an email to Podesta asking him to consider Brian DeSplinter for a position with Clinton’s campaign. Emnauel sent the email from the address “mayor_re@rahmemail.com.” The email address is still active, according to Mailtester.com, and is run through Google’s Gmail service. This is unlike Clinton who used a private email server based out of her Chappaqua, New York home.
  • Trump Wants Former Goldman Partner And Soros Employee To Serve As Treasury Secretary
    Six months ago, Steven Mnuchin became finance chair for the Trump campaign. Having succesfully helped to raise 10s of millions of dollars for the campaign, the former Goldman Sachs partner and Soros Fund management employee is now positioned for something much larger as Donald Trump reportedly told his aides today that he wants Mnuchin to serve as his Treasury Secretary.
  • Stock Market Reaches Deadly 7 Straight Days of Losses As Catholic Jubilee Year End Day Approaches
    The S&P 500 has only fallen for 7 straight days three times in the last 20 years.  And, each time it was during a financial crisis. And, it just happened again today. The S&P 500 fell 0.65% on Wednesday, marking seven days in a row of losses. Further, the CBOE Volatility Index (VIX) spiked more than 40 percent over the last six days. It was the first time the VIX rose for six straight days since the lead-up to the UK’s Brexit vote. And, interestingly, the Federal Reserve met again today and surprise, surprise… they didn’t raise rates again – though as usual they keep threatening…
  • KONGSBERG, Automated Ships to Build Unmanned, Fully-automated Vessel for Offshore Ops
    The UK’s Automated Ships Ltd. and Norway’s Kongsberg Maritime have signed a memorandum of understanding to build the world’s first unmanned and fully-automated vessel for offshore operations. In January 2017, Automated Ships will contract the Hrönn, which will be designed and built in Norway in cooperation with KONGSBERG. Sea trials will take place in Norway’s newly designated automated vessel test bed in the Trondheim fjord and will be conducted under the auspices of DNV GL and the Norwegian Maritime Authority (NMA). The Hrönn will ultimately be classed and flagged, respectively.
  • How Much Time do we have Before the Next Economic Crisis?
    Since early July, the 30-year US Treasury Bond Price Index has plunged 8.3%. It’s now called “the rout” in longer-dated government bonds. One of the specters is rising inflation at a time of ultra-low yields. What has become the number one predictor of a bear market in stocks over the past many decades? The US Treasury yield curve. It drives bank lending – which can strangle the economy. But this time, the risks are much higher, and the potential economic consequences steeper. The yield curve depicts the yields of different maturities of Treasury securities. Normally, those with short maturities have very low yields, and those with longer maturities have higher yields.
  • OBAMACARE: Your Dog Might Have Better Healthcare Than You Do
    It’s not exactly controversial these days to suggest that the US healthcare system is in bad shape. According to data collected by numerous independent agencies like the Institute of Medicine, Commonwealth Fund, and Kaiser Family Foundation, the US still ranks dead last among advanced economies in overall quality of its healthcare system. In fact, the US healthcare system has the worst record in the number of deaths caused by mistakes or inefficient care. And wait times in the US for urgent care and primary care visits rank lower than every other developed nation.
  • Julian Assange: Isis and Clinton Foundation are both funded by Saudi Arabia and Qatar
    Wealthy officials from Qatar and Saudi Arabia who donated money to Hillary Clinton’s charitable foundation also provided financial support to Isis, WikiLeaks founder Julian Assange has claimed. In an extended interview at the Ecuadorian embassy in London with documentary maker John Pilger for RT, Mr Assange said the same Saudi and Qatari officials could be seen to be supporting both the Clinton Foundation – founded by Mrs Clinton’s husband Bill – and funding the activities of Isis.
  • “I Feel Like Pablo Escobar” – Venezuelans Resort To Weighing Cash As Hyperinflation Builds
    Having thrown in the towel on hyperinflation by printing banknotes with 200-times-higher denominations, Bloomberg reports that things in Venezuela have continued to get worse with the currency now so devalued (with even simple purchases requiring so many bills) that instead of counting bills, they are weighing them. Once one of the world’s strongest currencies, the bolivar has been reduced to a nuisance. Basic purchases require hundreds of bills. Shoppers shove piles of them into gym bags before venturing into crime-plagued streets and shopkeepers stash thousands in boxes and overflowing drawers. In the absence of official data, economists are left to guess what the inflation rate is. Estimates for this year range from 200 percent to 1,500 percent. At a delicatessen counter in eastern Caracas, Humberto Gonzalez removes slices of salty white cheese from his scale and replaces them with a stack of bolivar notes handed over by his customer. “It’s sad,” Gonzalez says. “At this point, I think the cheese is worth more.”
  • Fed Sends New Signals About a Possible December Rate Increase
    Inflation is finally showing signs of behaving the way Federal Reserve officials want it to, bolstering the case for them to raise short-term interest rates next month. They decided Wednesday to leave rates unchanged while sending new signals that they could move at their next meeting, Dec. 13-14. Inflation has “increased somewhat since earlier this year,” Fed officials said in a statement released after a two-day policy meeting, noting also that some investors’ expectations of future inflation “have moved up but remain low.”
  • Don’t Sweat The Election. The Next Crisis Is Already Baked Into The Cake
    Friday was one of those days where you walk away from the screen for a minute and come back to find a completely different market. All it took was the FBI finding a trove of new Clinton emails, thus breathing new life into the Trump campaign and throwing what was a foregone conclusion back into doubt. Stocks tanked and gold popped, illustrating Wall Street’s preference in the upcoming election. It will be this way until the vote, especially if polls continue to tighten and the outcome remains uncertain. So there’s no point in obsessing over fundamentals for now. Nothing real will matter until we find out who gets to mess things up going forward. Sort of like the original Ghost Busters where the demon/god says “Choose the form of the destructor.”
  • Three Out Of Four Americans Believe The Media Wants Hillary To Win
    In light of the Podesta email revelations, as well as the daily farce that is CNN “objective reporting”, it will hardly surprise anyone, that the American public thinks the media wants Democratic presidential nominee Hillary Clinton to win by an almost 10-to-1 margin, according to a new poll. According to a Suffolk University/USA Today poll, which asked “who do you think the media, including major newspapers and TV stations, would like to see elected president: Hillary Clinton or Donald Trump?” the answer was clear: of the 1,000 adults surveyed, 75.9 percent answered Clinton, while just 7.9 percent picked Trump. Just more than 16 percent of respondents chose either “neither” or “undecided.”
  • Billionaire: “Single Digit Millionaires” Are Too Poor to Get Justice In America
    Billionaire Peter Thiel said yesterday: “If you’re a single-digit millionaire … you have no effective access to our legal system.” Thiel is saying even plain vanilla millionaires can’t afford justice in America. Fordham Law School professor and criminal justice expert John Pfaff notes that – using 2007 numbers – many states’ entire budgets for legal defense for people who can’t afford a lawyer is in the single-digit millions. (Given that the Great Recession happened shortly afterward, those numbers have undoubtedly declined since 2007.) In other words, under Thiel’s logic, even if an entire states’ annual budget for legal defense were spent on a single person, it wouldn’t be enough to deliver justice.
  • With insurers pulling out of markets, some Obamacare users “really nervous”
    Open enrollment for Obamacare, or the Affordable Care Act, begins today. Problems with the law mean consumers could face significant rate hikes in some parts of the country. There will also be fewer health plans to choose from. Starting today, the administration will make a major enrollment push — but that may be a tough sell in states like Tennessee, which has seen premiums spike more than 50 percent, reports CBS News correspondent Margaret Brennan.
  • Not all the Standing Rock Sioux are protesting the pipeline
    Ask around and you’ll hear stories of pipeline protesters who’ve traveled great distances. They’ve come from Japan, Russia and Germany. Australia, Israel and Serbia. And, of course, there are the allies, not exclusively Native American or indigenous, who’ve flocked here from all corners of the US. Together they stand in opposition to the Dakota Access Pipeline, a $3.7 billion investment to move 470,000 barrels of domestic crude oil a day through four states. They’re fighting against what they see as corporate greed, an environmental threat and an assault on sacred land. Demonstrating is their proud daily work.
  • Recessions, Predictions and the Stock Market
    We were recently made aware of an interview at Bloomberg, in which Tony Dwyer of Cannacord and Brian Wieser of Pivotal Research were quizzed on the recently announced utterly bizarre AT&T – Time Warner merger. We were actually quite surprised that AT&T wanted to buy the giant media turkey. Prior to the offer, TWX still traded 50% below the high it had reached 17 years ago. The merger as such is actually not what we want to discuss though. Rather, it is a remark of Mr. Dwyer’s regarding the stock market in general and what the recent merger mania is signaling. He makes two major points in the course of the conversation. For one thing, he notes that the merger (along with many other mergers that have recently been announced) is the result of the extremely easy availability of credit.
  • Italy’s Banking System on Verge of Nervous Breakdown
    One of the best indicators of whether a financial crisis is in full swing is when senior insiders begin to lose it in public. That’s precisely what happened in Italy on Thursday when Italian senior banker Giuseppe Guzzetti gave a speech at a conference in honor of World Savings Day, an international event that, unbeknownst to 99.9% of mankind, takes place every year on Halloween (Oct. 31). During his address, Guzzetti admitted that Atlante II — one of two bad bank funds created to provide much-needed support to Italy’s crumbling banking sector (the other being its predecessor, Atlante I) — is chronically underfunded. The fund, set up in the spring to help Italy’s most fragile banks, in particular Monte dei Paschi, remove some of the most toxic debt off their balance sheets, has experienced six intense months of activity, “but is now out of breath,” Guzzetti lamented.
  • Done in by Overcapacity, Stagnant World Trade, and China, Korean Shipbuilders Collapse on Top of Taxpayers
    The ravaged shipbuilding industry in South Korea, deemed too big to fail, is getting its largest taxpayer bailout yet, totaling $9.6 billion, on top of the bailout funds already handed out last year, and on top of another $9.6 billion this year to bail out state-owned banks that were getting slammed by defaulting loans extended to the shipping industry. Their problem: according to trade ministry, cited by the Wall Street Journal, orders for new ships to be built in South Korea have collapsed by 87% over the past nine months from the already terrible 9-month period last year, to almost nothing.
  • Can The American People Defeat The Oligarchy That Rules Them? — Paul Craig Roberts
    Aren’t you surprised that Hillary and the presstitutes haven’t blamed Putin for FBI director Comey’s reopening of the Hillary email case? But the presstitutes have done the next best thing for Hillary. They have made Comey the issue, not Hillary. According to US Senator Harry Reid and the presstitutes, we don’t need to worry about Hillary’s crimes. After all, she is only a political woman feathering her nest, just as political men have done for ages. Why all this misogynist talk about Hillary? The presstitutes’ cry is that Comey’s alleged crime is far more important. This woman-hating Republican violated the Hatch Act by telling Congress that the investigation he said was closed is now reopened. A very strange interpretation of the Hatch Act. During an election it is OK to announce that a candidate for president is cleared but it is not OK to say that a candidate is under investigation.
  • Gerald Celente: Fear Index Spiking After A Fed President Just Confessed ‘Radical Monetary’ Policies Have Failed
    With the U.S. dollar, stocks and crude oil trading lower and the price of gold and silver surging, the Fear Index is spiking after a Fed President just confessed that the central banks’ radical accommodative monetary policies have failed. Gerald Celente — Between the stream of WikiLeaks’ email dumps challenging the practices of Hillary Clinton’s campaign and the ethics of the Clinton Foundation, plus the FBI’s announcement to further investigate Clinton’s emails from her private server when she was secretary of state, Wall Street’s odds she would beat Donald Trump next Tuesday are no longer a sure bet.
  • The Coming Super Depression, Social Unrest, Wars, Cyberwars, $10,000 Gold & $1,000 Silver
    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, spoke with King World News about the the coming ‘Super Depression,’ social unrest, wars, cyberwar, $10,000 gold, and $1,000 silver. The Beginning Of The End. Egon von Greyerz:  “Money printing and debt is just the most beautiful scheme invented by governments to make ends meet and give the people whatever they want. In this perfect system, it makes not the slightest difference if the budget doesn’t balance. Conventional methods of increasing taxes or reducing government expenses is old hat and totally unnecessary. With modern methods, such trivial problems are solved by the printing press…
  • 10 Urgent preparedness items you’ll need when Trump wins the election next Tuesday
    This is a message from ‘The Health Ranger’ Mike Adams from NaturalNews.com. For almost a year, he has been publicly predicting that Donald Trump will win the election. Now, with the deep state turning against Hillary — and with damning evidence about to be leaked that will take her down forever — a Trump victory is more certain than ever… While a Trump win is a true victory for America, it’s just the beginning of the establishment’s war on Donald Trump and the revolution he’s supporting. The Washington political establishment, remember, absolutely despises democracy… and they are determined to do anything necessary to destroy Trump, remove him from power and install their own obedient political puppets who will do their bidding.
  • Pastor Lindsey Williams introduces Pastor David Bowen – November 3, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his sixth short weekly video for readers of Pastor Williams’ weekly newsletter.

THE FINAL BUBBLE! Pastor Williams says the information shared by this economist is outstanding and correct. What he says will happen. >>> CLICK HERE TO WATCH THE VIDEO (This video is being shared because the information within it is truly good and correct. Half way through the video it turns into a sales pitch to sell a book and related products. Pastor Williams has asked me to state that Pastor Williams and LindseyWilliams.net do not endorse this book).

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Latest News Articles – November 3, 2016

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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Lindsey Williams - Latest News Articles

Latest News From October 28, 2016 to November 3, 2016:

  • 10 Urgent preparedness items you'll need when Trump wins the election next Tuesday
    For almost a year, I've been publicly predicting Donald Trump will win the election. Now, with the deep state turning against Hillary — and with damning evidence about to be leaked that will take her down forever — a Trump victory is more certain than ever. While a Trump win is a true victory for America, it's just the beginning of the establishment's war on Donald Trump and the revolution he's supporting. The Washington political establishment, remember, absolutely despises democracy… and they are determined to do anything necessary to destroy Trump, remove him from power and install their own obedient political puppets who will do their bidding.
  • A Vote of Treason
    It has taken several months and a number of email dumps from Wikileaks to finally figure out what this presidential election is all about. There are only two ways to vote, for Donald Trump or for Hillary Clinton. But neither of those are what one would be voting for.
  • If Donald Trump Wins, He Will Be 70 Years, 7 Months And 7 Days Old On His First Full Day In Office
    A couple of weeks ago, it looked like Hillary Clinton was all set to cruise to victory, but now the FBI has delivered an election miracle in the nick of time.  A few of my readers had criticized me for suggesting that Trump might lose, but I don’t know who is going to win the election, and so all I had to go on was the cold, hard numbers.  And a couple of weeks ago the cold, hard numbers were telling me that Hillary Clinton was going to win.  Of course it is entirely possible that the national polls might have been seriously wrong, but even the state polls in the most important battleground states consistently had bad news for Trump.  So things didn’t look good for Trump at the time, but now that the FBI has renewed their investigation into Hillary Clinton’s emails the poll numbers have shifted dramatically in Trump’s favor.
  • How Voting Machines Are Programmed In Order To Steal Elections
    Americans are being told by “experts” (read “Hillary supporters”) that election fraud in the US is rare. They are also being misinformed that voting fraud would be detected. The fact of the matter is, as has now been proven, that no vast conspiracy is required. One person suffices to have the machine count the votes as desired. Once the vote is recorded the code erases the elements that would reveal the fraud. The entire purpose of the presstitutes reporting a non-existent Hillary lead is to create in advance acceptance that she won, thereby discrediting in advance any challenge to the rigged outcome.
  • Trump And Clinton Have Both Assembled An Army Of Lawyers To File Lawsuits And Contest The Election Results
    What happens when you get thousands of lawyers involved in the craziest election in modern American history? Unfortunately, we may be about to find out. We all remember the legal tug of war between Al Gore and George W. Bush in 2000, and with each passing day it is becoming more likely that we could see something similar (or even worse) in 2016. In a brand new article entitled “Clinton, Trump Prepare for Possibility of Election Overtime“, Bloomberg discusses the armies of lawyers that Clinton and Trump are both assembling for this election. It would be nice if it was the American people that actually decided the outcome of this election, but if things are very close on November 8th it may come down to what the courts decide.
  • Will Barack Obama Delay Or Suspend The Election If Hillary Is Forced Out By The New FBI Email Investigation?
    Just when it looked like Hillary Clinton was poised to win the 2016 election, the FBI has thrown a gamechanger into the mix. On Friday, FBI Director James Comey announced that his agency has discovered new emails related to Hillary Clinton’s mishandling of classified information that they had not previously seen. According to the Associated Press, the newly discovered emails “did not come from her private server”, but instead were found when the FBI started going through electronic devices that belonged to top Clinton aide Huma Abedin and her husband Anthony Weiner.  The FBI has been looking into messages of a sexual nature that Weiner had exchanged with a 15-year-old girl in North Carolina, and that is why they originally seized those electronic devices.  According to the Washington Post, the “emails were found on a computer used jointly by both Weiner and his wife, top Clinton aide Huma Abedin, according to a person with knowledge of the inquiry”, and according to some reports there may be “potentially thousands” of emails on the computer that the FBI did not have access to previously.  Even though there are less than two weeks to go until election day, this scandal has the potential to possibly force Clinton out of the race, and if that happens could Barack Obama delay or suspend the election until a replacement candidate can be found?
  • Syrian Refugees Admitted Into The U.S. Surge 675% So Far In 2016
    Through October, the Obama administration has officially resettled 13,210 Syrian refugees into the United States since the beginning of 2016, an increase of 675% compared to the same 10-month period in 2015.  Of course, just last month Secretary of State Kerry revealed plans by the Obama administration to increase the number of refugees admitted into the U.S. even further to 110,000 in 2017, representing a 30% increase over the 2016 target and a 57% increase from 2015.  According to CNS News, 99.1% of incoming Syrian refugees so far in 2016 are Muslim while only 0.5% are Christian despite John Kerry declaring back in March that ISIS was actively committing genocide against Christians in the war-torn country.
  • Unprecedented Bond Dumping Means U.S. Dollar Collapse Ahead
    In the following interview, Elijah Johnson and Silver Doctors bring you the latest interview with someone we haven’t heard from in a while, Dr. Jim Willie. To begin the financial portion of the interview, Elijah begins by asking Dr. Willie about the unprecedented dumping of U.S. Bonds by China and Saudi Arabia, and of course what Elijah is referring to is how several weeks ago the markets witnessed never before seen numbers when $28 billion in U.S. Treasuries were dumped one week, followed by another $23 billion a week or so later.
  • The Fight Against The North American Union And Globalism Is In Standing Rock 
    If you are one of the few people left watching the mainstream media, you’d think that the only thing currently going on has to do with Donald Trump or Hillary Clinton. There is much more going on than that, however.  Aside from the ongoing military tensions with Russia and the faltering economy, there is a stand-off currently happening that is barely being reported on in the mainstream. Just a few days ago, tensions really began to escalate on the Sioux reservation land in Standing Rock, North Dakota. There, highly militarized riot police used sound cannons, pepper spray, and tasers to try to both arrest and subdue Native American “Indian” tribes and environmental activists alike who are struggling to protect land from developers of the Dakota Access Pipeline.
  • The U.S. Will Lose Global Reserve Status, Expect 80-90% Devaluation Of the U.S. Dollar
    In the following interview with the X22Report Spotlight report, Dr. Jim Willie unleashes with both guns blazing on a subject I’ve been warning about for about for over two years now, which is the loss the U.S. Dollar’s status as the World’s Global Reserve Currency. For the simple fact that no one under the age of 70 has never known a planet earth where the U.S. Dollar has not been the World’s Reserve Currency, most Americans in particular have no idea what it will mean when we lose that status.
  • Money Riots Possible in Next Economic Crash-James Rickards
    Three time best-selling author James Rickards says the next economic crash will lock you out of your money. Rickards has a new book titled “The Road To Ruin.”  Rickards paints a scary possible scenario for what is coming and contends, “The global elites have a secret plan for the next financial crisis.” Rickards goes on to explain, “They are going to lock down the system when the crisis hits.  In 1998, everybody wanted their money back, and they printed the money.  In 2008, everybody wanted their money back, and they printed the money.  In 2018 or sooner, everyone is going to want their money back, but they are not going to print the money.  They are going to tell you that can’t have it.  They are going to lock down the system and close the banks.  Money market funds are going to suspend redemptions.  Stock exchanges are going to be closed, and they’ll say it’s ‘temporary.’  That’s what Nixon said when he closed the gold window in 1971. . . . They will do it to buy time until they can flood the market with SDR’s (Special Drawing Rights IMF currency).”
  • Moody’s: Deutsche Bank Nearing “Default Point” 
    In a research report put together by the credit agency’s ‘Analytics’ research division, Moody’s analysts write that Deutsche Bank expected default frequency remains at one of the highest levels in the banking industry, despite the bank’s efforts to shore up its capital position. In the report, Moody’s cites its Expected Default Frequency measure, which is a continuous measure of a firm’s default risk. The firm’s one-year EDF measure increased from 1.05% in January to its all-time high of 2.85% on February 9. Since then, the EDF measure has declined somewhat, but remains volatile, reflecting Deutsche Bank’s lingering financial problems. At present, the company’s current EDF measure is a 1.39%, which is still significantly above the Global Banks and S&Ls group’s optimal threshold level as calculated by Moody’s. The optimal threshold or value at which firms in the Global Banks and S&Ls Group should be flagged for additional review is 1.22%.
  • DOJ's Peter Kadzik Exposed Colluding With Clinton Campaign
    On Monday we were the first to note that Podesta's friend Peter Kadzik was the DOJ representative chosen to head up a “thorough” review of the new Huma Abedin emails as revealed by a letter he wrote to Congress.  Given Kadzik's personal relationship with Podesta, it seemed like a “convenient” choice for the Clinton campaign. ‘In the letter to Congress, the DOJ writes that it “will continue to work closely with the FBI and together, dedicate all necessary resources and take appropriate steps as expeditiously as possible,” assistant attorney General Peter J. Kadzik writes in letters to House and Senate lawmakers.' “Ironically”, that is the same Peter Kadzik who has proven his “impartiality” in multiple WikiLeaks emails including this newly released bombshell in which Kadzik provides a very helpful “heads up” about Hillary's email server investigation.
  • HSBC: Buy Gold, Regardless Of Who Wins The Election
    Analysts at HSBC are out today with a big bullish call on gold, which they say will rise precipitously to multi year highs, no matter who wins next week’s hotly-contested election. The firm sees Trump as slightly more bullish for the yellow metal, but expects big upside regardless. From Bloomberg: ‘Although they deem a Donald Trump victory more supportive for the price of the metal than a win by Hillary Clinton, the bank’s Chief Precious Metals Analyst James Steel says it’ll enjoy at least a 8 percent jump whoever wins the race.' An 8% jump from current levels would equate to gold prices of $1,407 per ounce, a level unseen since 2013.
  • Let’s Be Clear – A Vote For Warmonger Hillary Clinton Is A Vote For World War 3
    If you want to see war without end, vote for Hillary Clinton. It is tremendously ironic that Hillary Clinton and the mainstream media have attempted to portray Donald Trump as “dangerous” and “temperamental”, because it is Clinton that actually has a long history of being emotionally unstable. She has a temper that is absolutely legendary, and she has been cussing out the men and women in her security detail for decades. Hillary Clinton played a key role in starting the civil war in Syria, thanks to her Libya is a post-apocalyptic wasteland today, and now she is picking a fight with the Russians before she has even won the election. Of all the candidates there were running for president this election cycle, there was nobody that was even close to as dangerous as Hillary Clinton, and if she wins the election I am fully convinced that World War 3 will begin before her time in the White House is over.
  • Dallas Fed Outlook Signals 22nd Straight Month Of Contraction
    Dallas Fed's Manufacturing Outlook has now contracted for 22 consecutive months (the 2008/9 crisis collapse was 24 straight months) with a -1.5 print in October (missing expectations of +2). Production declined, Capacity Utilization tumbled, New Orders and Average Workweek contracted, and wages dropped (while prices paid rose).
  • Get Ready For Civil Unrest: Survey Finds That Most Americans Are Concerned About Election Violence
    Could we see violence no matter who wins on November 8th?  Let’s hope that it doesn’t happen, but as you will see below, anti-Trump violence is already sweeping the nation.  If Trump were to actually win the election, that would likely send the radical left into a violent post-election temper tantrum unlike anything that we have ever seen before.  Alternatively, there is a tremendous amount of concern on the right that this election could be stolen by Hillary Clinton.  And as I showed yesterday, it appears that voting machines in Texas are already switching votes from Donald Trump to Hillary Clinton.  If Hillary Clinton wins this election under suspicious circumstances, that also may be enough to set off widespread civil unrest all across the country.
  • Washington Prepares For EMP While Internet Under Attack Since Transfer to the UN
    Remember how we pondered whether the internet would be shut off (or highly censored) upon being transferred to the UN on October 1st?  Just a few weeks later, large swathes of the internet went down. Coincidence or trial run? We’ll get into that below. Beforehand, however, there have been a number of new “Executive Orders” straight from the e-pen of Barack O’Bomber in the last few months of a “very strange” variety. Over the summer, a number of orders were given for succession plans in the case of multiple deaths in numerous US agencies.
  • Here’s How to Play the Upcoming Sovereign Debt Crisis
    Analyst Larry Edelson explains why the global bond markets will soon have to “pay the piper,” and why that’s so bearish for bonds and bullish for equities and commodities. By this time next week, we’ll all know who the next president of the United States will be. But it won’t matter one iota. The reason: We’re in the early stages of a sovereign debt crisis, a massive storm that hits the global economy roughly every 80 years and where the piper always gets paid. Proof positive it’s starting: While central bankers have done virtually everything they could think of to prop up bond prices and depress interest rates to spark global economic growth.
  • Germany unveils zero-emissions train that only emits steam
    Germany is set to introduce the world’s first zero-emission passenger train to be powered by hydrogen. The Coradia iLint only emits excess steam into the atmosphere, and provides an alternative to the country’s 4,000 diesel trains. Lower Saxony has already ordered 14 of them from French company Alstom, and more are likely to be seen around the country if they are judged a success, reports Die Welt.
  • Fed Fails To Save Stocks From Worst Losing Streak In 5 Years
    Stocks (4mo lows) and HY Bonds (3mo lows) down 7 days in a row… the longest losing streak since Nov 2011. Post-Fed, gold and bonds were sold and oil bid which dragged stocks up a smidge… On the day, Trannies held on to green but all stocks ended with an ugly close with Small Caps notably weak again (highest beta to credit) – Dow closed below 18,000 and S&P below 2100…
  • This Is What Gold Does In A Political Crisis, “Trump Might Actually Win” Edition
    A week ago it looked like the US government was destined to end up firmly – maybe even more firmly — in the hands of the banks, public sector unions and defense contractors. Trump was imploding and the markets were basking in the prospect of never-ending liquidity from a re-energized Fed. And safe-haven assets like gold were being dumped in favor of growth stocks and the like. Then Anthony Weiner reached out from the grave to throw the result back into doubt. Polls have tightened, especially in crucial swing states, and it’s now at least conceivable that an outsider will gain control of bank regulation and nuclear codes, with all the uncertainty that that implies.
  • TITANIC Battle Underway Over Return of the GOLD STANDARD | Jim Willie
    A TITANIC battle is underway, where the Eastern nations are discarding their USTreasury Bonds, and doing so in tremendous volume while they set up the many platforms and pieces to the Gold Standard. The risk of war rises… The Western central bank franchise system is totally broken, totally insolvent, and totally corrupt. It invites the Gold Standard return. The entire financial system is built upon a debt-based monetary system. The debt saturation process has run its full course. The central bank heads have been covering the sovereign debt for the last five years, having rendered their balance sheets as ruined.
  • Thomson Reuters Says It's Cutting 4% of Its Workforce
    Thomson Reuters said on Tuesday it would cut about 2,000 jobs worldwide, about 4% of its workforce, and take a fourth-quarter charge of $200 million to $250 million to streamline its business. The restructuring across 39 countries and 150 locations would mainly affect the Financial & Risk business and the Enterprise, Technology & Operations Group, the news and information company said. The company employs about 48,000 people globally, a spokesman said. The changes come as part of its multi-year effort to streamline its businesses, said Jim Smith, chief executive, in an interview Tuesday.
  • Marc Faber: Dow Could Reach 100,000
    They could essentially monetize everything, and then you have state ownership. And through the central banking system, you introduce socialism and communism, which is state ownership of production and consumption. You would have that, yes, that they can do. The BoJ owns more than 50 percent of Japanese ETFs (exchange traded funds), which own large parts of the underlying companies. So indirectly they may own 20 percent of the Japanese companies, and they can go up to a higher level. I don’t think the central bankers are intelligent and smart enough to understand the consequences of their monetary policies at present. They focus on inflation but in my view they shouldn’t do anything. They don’t focus enough on what it does to the average standard of living of the people, to the average household income.
  • All the News That Fits
    You’re probably appalled at the American media’s shameless whoring for Hillary Clinton, asking yourself why they would so thoroughly debase their much-touted journalistic ethics. President Obama has answered that question. As reported by Agence France Presse, during a recent speech in Pittsburgh he postulated: “We are going to have to rebuild within this wild-wild-west-of-information flow some sort of curating function that people agree to.
  • Recommended Reading: ‘When Money Dies: The Nightmare of the Weimar Collapse'
    Precious metals expert Michael Ballanger discusses his favorite investing books and reviews the landscape for gold and the U.S. dollar between now and the end of the year. Since entering the hallowed halls of that venerable, old private Jesuit university, Saint Louis University, that sits near the banks of the equally-venerable-and-old man river, the “Mighty Mississippi,” I have kept a number of books in my library that shall remain as “life textbooks,” tomes upon which to refer in times of confusion, despair, joy and victory. Because of my background in hockey as a (much) younger man, I have always enjoyed re-reading sports books and one of my favorites was Ken Dryden's “The Game” because he described a team and league that had many members familiar to me in the 1970s. Thomas Hauser's “Muhammad Ali: His Life and Times” was another superb book about the singular, most-globally-recognized athlete of all time and, again, an athlete from the era in which I was raised.
  • Currency vs Money: What’s the Difference?
    If you look up the words “currency” and “money” in a thesaurus, each word will probably be listed as a suitable linguistic substitution for the other; however, their economic function is almost completely opposite. Understanding the difference between currency and money is critical to making smart decisions about preserving your wealth.
  • Could Hillary Clinton start a world war? Sure as hell she could – and here’s how
    You can condemn that semi-isolationist ‘America First' mindset if you want, but the easiest way to prevent the next world war is simply to let the Russians have what they want, provided it makes no difference to you. Like Donald Trump or not – and I like him no more than, well, Hillary Clinton – there is one thing he might be good for. Peace. A small matter, I know, when set against his serial (alleged) philandering and worse, but worth pondering for a moment. A hideous, but necessary thought experiment runs something like this.
  • Why Aren’t Global Markets Freaking Out Over China’s Currency?
    There were two dogs that did not bark this year. The Japanese yen, which despite negative interest rates and an unprecedented expansion of the central bank's balance sheet, strengthened 15% against the dollar. The yen has been the strongest major currency, and the third strongest currency in the world behind the high-yielding Brazilian real, recovering from last year's drop, and the Russian rouble, aided by a rebound in oil. The other dog that is not barking is China. In August 2015, and again at the start of is year, the decline of the yuan and weakness in Chinese equities reverberated around the world. It was even cited as a factor influencing the timing of the Fed removing accommodation. Since early this year, the yuan has continued to depreciate, and Chinese shares are among the worst performers. Yet it has not been a disruptive force.
  • The Fed is Literally Broadcasting That It's Going to Let Inflation Run Wild
    The biggest moves… the ones that make the MOST money in the markets are the ones no one is talking about for months. With that in mind, you NEED to know that the Fed is going to let inflation run wild in the US. That is not a hypothesis. In the last month we’ve had THREE different Fed officials state that they WANT inflation and that the Fed will let it run BEYOND the Fed’s target 2% rate.
  • Here's A Doozie For You….Jim Stone Reveals Why the FBI Reopened The Killary Email Case….Hint…IT'S NOT WHAT YOU'VE BEEN TOLD….
    An explanation for why the FBI re-opened Hillary's E-mails. Huma's husband, Anthony Weiner (which blows the whole Huma/Islam meme into the gutter, all we are seeing with this is the fact the “Muslims” running Saudi Arabia are crypto Jews) ANYWAY, Hillary was so sure she'd never be called to account with her E-mails that she was careless enough to have them end up on Weiner's personal laptop in a file he titled “life insurance”. Well, you know how the entire establishment is wrapped up in child sex and other similar crimes, and Weiner ended up getting his laptop seized by the NYPD in a kiddie porn/child sex investigation. When the NYPD went through the laptop, they found Hillary's E-mails in FULL UNADULTERATED PRISTINE FORM. They proved crimes of the highest order, at least 15 felonies found so far, with a majority of them related to treason and selling out the country.
  • China & Russia Prepare For Chaos: Buying Gold
    Mike looks at the recent ramp up in gold buying in the East, particularly China and Russia. And what it means for gold demand in the near term. Note: this is an excerpt of a GoldSilver Insider’s report sent earlier.
  • Meltdown at Justice. Attorney General Lynch abdicated her duty in the Clinton probes.
    Fewer than three of 10 Americans trust government to do the right thing always or most of the time, Gallup reports, and the years since 2007 are “the longest period of low trust in government in more than 50 years.” The details emerging about the multiple investigations into Hillary Clinton explain a lot about this ebbing public confidence in institutions such as the Justice Department and Federal Bureau of Investigation.
  • U.S. election, rate uncertainty rattle Wall Street
    Wall Street sold off on Tuesday, with the S&P 500 closing at the lowest level since July 7, amid growing concern over the impending U.S. presidential election and prospects for higher U.S. interest rates. Stocks pared losses after falling steeply in early afternoon trading as the S&P 500 breached a key technical level. The tumultuous presidential race between Democrat Hillary Clinton and Republican Donald Trump has appeared to tighten in the past week after news that the FBI was investigating more emails as part of a probe into Clinton's use of a private email system.
  • Preparing for Post-Election Social Unrest
    The 2016 election year is bringing out the worst among some elements of society. From vandalism to physical assaults to large scale race riots to terrorist bombings and mall stabbings, social disorder has become a more prominent feature of life in a polarized America. It’s easy (and politically convenient) for the establishment media to blame Donald Trump for inflaming the political divide. In reality, Trump supporters have far more often been the victims rather than the instigators of political violence.
  • The End State: 5 Triggering Events That Would Place the U.S. Under Martial Law
    Ready Nutrition Readers, as you are probably well aware, the Obama administration would like nothing more than to place the United States under Martial Law. Once that is accomplished, the country and people would be locked down and kept under control on the pretext of continuing with the government and/or maintaining the national security of the U.S. Let’s take a look at 5 events the administration would be most likely to utilize to reach this end state.
  • Euro “Will Collapse” – Is “House of Cards” Warns Founder of Euro
    The Euro “will collapse” as it is a”house of cards” warned Otmar Issing, the founder and creator of the euro in an extraordinary interview on Monday. In the explosive interview with the journal Central Banking, Professor Issing, said “one day, the house of cards will collapse”  as the European Central Bank (ECB) is becoming dangerously over-extended and the whole euro project is unworkable in its current form. The founding architect of the monetary union has warned that Brussels’ dream of a European superstate will finally be buried among the rubble of the crumbling single currency he designed.
  • BIG TROUBLE FOR COPPER: The Breakdown Of The Industry Has Begun
    The king of base metals is in big trouble as indicators point to a breakdown of the global copper industry.  This goes well beyond the typical “slowdown” or “downturn” in the copper market.  Instead, we are going to witness what I refer to as “Copper Industry Carnage.” While some readers may feel as if I am being a bit “doom and gloomy” here, the situation in the global copper industry is much worse than most analysts realize.  This is due to the fact that many analysts are forecasting copper supply deficits in the next few years, which would push the price of copper higher. Unfortunately, this sort of industry analysis is well behind the curve or even worse, guilty of wishful thinking.  The world economy is slowing down… and this will likely pick up speed by the end of the year.  Which means, demand for copper will continue to weaken, pushing prices even lower.
  • What Triggers Collapse?
    Though no one can foretell the future, it is self-evident that the status quo – dependent as it is on cheap oil and fast-expanding debt – is unsustainable. So what will trigger the collapse of the status quo, and what lies beyond when the current arrangements break down?  Can we predict how-when-where with any accuracy? All prediction is based on extrapolating current trends. If we expect ‘more of the same', it’s not too difficult to make predictions about the near future. But history is not always simply more of the same. Suppose we are in the midst of an era that is as monumental as the first Industrial Revolution or the fall of Rome. Suppose we're in an era that will compress a century of transformation into the ten years from 2017 to 2026. In this scenario, those who get it right will be riding the disruptive wave that is crushing everyone who blithely expected ‘more of the same'. It is especially challenging to forecast the outcome of crises that break the status quo and establish a new social/economic order.
  • Where Will All the Money Go When All Three Market Bubbles Pop?
    Since the stock, bond and real estate markets are all correlated, it's a question with no easy answer. Everyone who's not paid to be in denial knows stocks, bonds and real estate are in bubbles of one sort or another. Real estate is either an echo bubble or a bubble that exceeds the previous bubble, depending on how attractive the market is to hot-money investors.
  • Will Eliminating Cash Save The Economy? (Spoiler Alert: Don't Be Stupid!)
    Given the still-subdued economic growth many experts are of the view that the presence of cash has constrained central banks from setting negative rates to stimulate the subdued economic activity. In a future economic or financial crisis, current low rates would restrict the effectiveness of monetary policy, so it is held. The presence of cash, it is argued, prevents the central banks from lowering policy rates to a level, which is going to meaningfully revive economic activity. What prevents the dramatic lowering of rates is that this is going to severely hurt savers who keep their cash in various bank accounts and so this is seen as politically unacceptable. The abolition of cash, it is held, is going to enhance the ability of the central banks to use negative rates (perhaps as low as minus 5 percent per year) and this would provide central banks with additional flexibility and tools to deal with a slowdown.
  • The conscripts who went into the cold: Young Russians bid emotional goodbyes to their families as they are called up for national service while tensions between Putin and the West continue to rise
    Some had smiles on their faces while others looked concerned as they left home for an uncertain future. Dozens of young men lined up in Omsk for the annual Russian autumn conscription where men aged 18-27 are obliged to spend a year in national service. Drafts take place twice a year – one in spring and one in autumn – but the timing of this one comes as President Vladimir Putin is beefing up his armed forces amid rising tensions with the West.
  • Trump Wins By Landslide-Polls 100% Manufactured-Clif High
    Internet data mining expert Clif High says the “naked data” on the Internet shows Trump winning the 2016 Presidential election by a “landslide.” High explains, “You can do a search on YouTube that brings back a list of primary speeches by both candidates.  I am not talking about Fred Smith’s copy of a video he made of Trump.  I am talking about a speech took officially of Trump, and they released it officially.  If you take just those, you can see you’ve got Hillary Clinton on one side with 2,165 views, and Trump on the other side with 775,653 views.  So, that is not anecdotal. This is a very crude level of statistical analysis, but it is nonetheless statistical analysis, and it is very pointed because it is extremely self-selecting.  There is nobody watching you when you choose to watch something on YouTube.  So, there is no peer pressure or external person polling you. . . . It’s what I call a very naked data set because there is no pressure on an emotional level on people.”
  • Putin is gearing up for a ‘hot war' he doesn't want but WILL attack the West if he is provoked over Syria, warns former British Ambassador
    Vladimir Putin is gearing up for a ‘hot war' he doesn't want – but will not back down if he provoked over Syria, Britain's former ambassador to Moscow has warned. Sir Anthony Brenton insists relations between the Kremlin and the West are ‘the most dangerous' he has ever seen amid heightened tensions over the country's bombing campaign in Syria. While Russia ‘means business' having sent warships past British shores and displayed its military might, Moscow is ‘weak' and does not want a war, Sir Anthony said.
  • FINANCIAL CRACK-UP: Nomi Prins Just Warned When The System Crashes This Time, It Will Crash Harder
    Nomi Prins, who meets with people from the Federal Reserve, IMF, World Bank, foreign central banks and high-raking government officials across the globe, just warned when the system crashes time time, it will crash harder. When It Crashes, It Crashes Harder. Nomi Prins:  “The financial system is fragile.  It (the crackup) has been contained for 8 going on what will be 9 years of cheap money, bond subsidization, banking subsidization, and of a codependency that is very fragile.  I don’t know when that gives.  I’ve tried to guess this throughout the years, but the point is that it only increases in its tension and its (ultimate) downfall with every day that it’s been subsidized artificially…
  • ‘Ancestors are with us’: Wild buffalo stampede North Dakota pipeline protest
    While demonstrators and police faced off during a protest against the Dakota Access Pipeline, a rather unexpected show of force emerged – a thundering herd of buffalo. A stampede near the Standing Rock protest camp prompted cries of joy from the Standing Rock Sioux. Footage of the moment, understood to have occurred on Thursday, shows a protester is being interviewed before stopping when spotting the herd of wild buffalo in the distance.
  • More QE? Rate Hikes? Opposites Attract?
    The entire financial world is holding its breath to see what the Federal Reserve decides to do at its next meeting in December. After having postponed a rate hike several times, it’s now increasingly likely a decision to increase the benchmark interest rates has been reached.
  • 650,000 Emails Found On Anthony Weiner's Laptop; DOJ Blocked Foundation Probe
    Yesterday, we reported that the FBI has found “tens of thousands of emails” belonging to Huma Adein on Anthony Weiner's computer, raising questions how practical it is that any conclusive finding will be available or made by the FBI in the few days left before the elections. Now, according to the WSJ, it appears that Federal agents are preparing to scour roughly 650,000 emails that, as we reported moments ago were discovered weeks ago on the laptop of Anthony Weiner, to see how many relate to a prior probe of Hillary Clinton’s email use, as metadata on the device suggests there may be thousands sent to or from the private server that the Democratic nominee used while she was secretary of state, according to people familiar with the matter.
  • Deluded Tony Blair urges Remainers to become INSURGENTS to keep Britain IN the EU
    A SHAMELESS Tony Blair has urged Remain voters to become insurgents to persuade Brexiteers Britain is better off staying in the EU – despite over 17million people voting to Leave. Mr Blair clashed repeatedly with Nick Robinson on the Today programme after he was accused repeatedly of trying to ignore a democratic vote. Despite recent economic boosts to the economy, including a rise in GDP and the decision of Nissan to back new car production in Sunderland, Mr Blair described Brexit as a “catastrophe”.
  • The World Is Out of Weapons
    No one likes to admit defeat. But global policymakers, who continue to insist that there's more they can do to revive growth and inflation, are starting to sound like Monty Python's Black Knight, the limbless and mortally wounded warrior who threatens to bleed on his victorious opponent. The truth is that governments and central banks have very few weapons left — and have probably lost any chance they once had of averting a prolonged stagnation.
  • Russia loses UN Human Rights Council place, Saudi Arabia re-elected
    For the first time since UNHRC's inception in 2006, Russia has lost an election to the UN Human Rights Council after being narrowly beaten by Croatia in a vote. Saudi Arabia was successfully re-elected, despite criticism from human rights organizations. The 47 places on the council are distributed on a regional basis, with staggered ballots seeing a third of the body re-elected each year. Russia had finished its three-year term and was running against Hungary and Croatia for the two available seats from Eastern Europe. With Hungary far ahead, Croatia received the votes of 114 of the 193 member countries, and Russia was selected on 112 ballots.
  • 5 Things You Need To Know About The Dakota Access Pipeline Protests
    A small Standing Rock Sioux site in North Dakota called the Sacred Stone Camp has been propelled into the national news narrative following their stand against the Dakota Access Pipeline. Due in part to independent media coverage of the ongoing standoff, the Sacred Stone camp has grown into a formidable opposition against the $3.8 billion, 1,200-mile long pipeline. Due to misinformation coming from law-enforcement, political favoritism toward the pipeline builders, and the media’s blatant reluctance to report on the pipeline, it’s hard to tell truth from fiction. Anti-Media, along with our partners in the independent media and our embedded journalist at the opposition encampment, have been covering the unfolding standoff continuously. Here are five things you need to know.
  • FBI gets warrant to read Clinton probe emails
    The FBI has obtained a warrant to start reviewing emails found on a laptop used by top Hillary Clinton aide Huma Abedin and her husband Anthony Weiner, according to reports from US media. The Wall Street Journal says the number of emails could total 650,000 – though not all of them are expected to be relevant to the Clinton investigation. This comes after Friday's bombshell that the FBI was again reviewing emails related to the democratic presidential candidate's private server. In a letter to Congress, the agency's director, James Comey, said new information had prompted an additional review of the case that ended in July.
  • Self-driving truck makes first trip — a 120-mile beer run
    If you're sipping a Budweiser somewhere in Colorado Springs, you just might have a robot to thank for that thirst-quenching brew. Last week, self-driving truck start-up Otto teamed with Anheuser-Busch to successfully deliver a semi-tractor full of beer from Fort Collins, through Denver and on to the southern Colorado city in the shadow of Pikes Peak. For the majority of that 120-mile trip, the truck's driver left his seat and observed the road from the comfort of the sleeper berth. An Otto video of the drive shows the slightly disconcerting image of a massive 53-foot trailer filled with 2,000 cases of Bud rumbling down I-25 with no human in the cab.
  • Don Coxe Advises Buying Gold as Hedge Against Economic Crisis
    With election day looming and the Fed seemingly in a civil war with itself, more and more financial experts are looking to buy gold in order to weather the recession. In a recent Financial Sense podcast, financial advisor Don Coxe explains how bad monetary policy, central bank overreach, and the coming economic crisis should prompt investors to consider buying gold.
  • Deutsche Bank Probing “Misstated” Derivative Valuations After Finding “Divergences”
    Perhaps the single biggest reason why Deutsche Bank's stock has been drastically underperforming most of Europe's banks, in addition to its skyhigh leverage and lack of capital buffer, is the market's concern about what is hidden on its books, namely whether the bank's billions in loans and its trillions in derivatives have been marked correctly. Which is why a just released report from Bloomberg that Deutsche Bank is reviewing whether it “misstated” the value of derivatives in its interest-rate trading business, will hardly spark optimism in the bank's critical asset marking practices; the good news is that according to the report the biggest German lender is sharing its findings with U.S. authorities, according to people with knowledge of the situation.
  • Fed’s Williams Looks to December for the Next Rate Increase
    Federal Reserve Bank of San Francisco President John Williams said the best time for the U.S. central bank to raise rates again likely will be at its policy gathering in December. Mr. Williams still expects one rate increase this year, and said it could happen at either of the two remaining rate-setting Federal Open Market Committee meetings in 2016. But it could be better to wait a bit longer to boost what is now a 0.25% to 0.50% overnight target rate range, he said in an interview Monday with The Wall Street Journal. That’s because Fed Chairwoman Janet Yellen will have a press conference at the Dec. 13-14 meeting, but not at the gathering scheduled for Nov. 1-2.
  • Chinese Bank Liabilities Rise Above 200 Trillion Yuan For The First Time
    By now it is widely accepted that the biggest credit risk facing the global financial system is not so much among western banks, which have been closely scrutinized, and their balance sheets are largely exposed to both regulators and the public (perhaps with a few notable exceptions), but are arising from China. And while China's total leverage, by most counts, is somewhere in the 300% range, according to the IFF…
  • Richmond Fed Confirms Weakest Economic Trend Since 2008
    For the first time since 2012, the Richmond Fed business surveyr has been in contraction (below 0) for 3 straight months (and 4 of the last 5). Worse still, the six-month average of the business survey has not deteriorated this fast since Q2 2008. While the underlying components were mixed, inventory levels dropped (bad for GDP), average workweek tumbled (bad for incomes), and new orders re-plunged. This is the worst drop in the six-month average of the Richmond Fed survey since Q2 2008…
  • Subprime Credit Card Surge Pushing Up Missed Payments
    Credit-card lending to subprime borrowers is starting to backfire. Missed payments on credit cards that lenders issued recently are higher than on older cards, according to new data from credit bureau TransUnion. Nearly 3% of outstanding balances on credit cards issued in 2015 were at least 90 days behind on payments six months after they were originated. That compares with 2.2% for cards that were given out in 2014 and 1.5% for cards in 2013. The poorer performance on newer cards pushed up the 90-day or more delinquency rate for all credit cards to 1.53% on average nationwide in the third quarter. That’s the highest level since 2012.
  • More Bad News For Philadelphia: Obamacare Premiums Set To Soar More Than 50%
    Yesterday the Obama administration confirmed what many Americans already knew: the monetary pressures imposed by Obamacare on the middle class are becoming unmanageable as a result of the average Obamacare premium set to spike by 25%, or hundreds of dollars of formerly disposable income that will be redirected to what is effectively a tax. However, in some states – especially those where the so-called recovery has failed to keep pace – such as Pennsylvania, the sticker shock will be far greater. As CBS Philadelphia reports, when the Affordable Care Act open enrollment period begins next week customers will see some changes, including fewer choices and higher prices. In Pennsylvania, the number of insurers in the marketplace has gone from 13 to eight. But the worst fate is set to befall the city that famously booed Santa Claus, Philadelphia, where CBS reports that just two insurers are left and premiums are expected to rise 53%.
  • Anti-Trump Violence Sweeps The Nation
    While the mainstream media has been working day and night promoting Hillary Clinton’s candidacy, it has largely ignored or downplayed violent attacks against supporters of Donald Trump. But assaults on Trump supporters appear to be growing increasingly common as Election Day approaches and tensions intensify. Reports of Trump lawn signs and banners being stolen and defaced are everywhere on social media. Making matters worse, undercover video evidence emerged showing senior Democrat operatives Robert Creamer and Scott Foval acknowledging using dirty, likely illegal tricks against the Trump campaign. Their goal was to generate negative media coverage of Trump rallies by fomenting violence at them. The media eagerly used the various fisticuffs and melees the Democrats created to attempt to discredit Trump by depicting his supporters as violent, knuckle-dragging crazies.
  • Clinton Campaign Chair Had Dinner With Top DOJ Official One Day After Hillary's Benghazi Hearing
    In the latest revelation sure to reignite accusations of collusion between the Clinton campaign and the DOJ, among the recent batch of hacked emails released by Wikileaks, we learn that the day after Hillary Clinton testified in front of the House Select Committee on Benghazi last October, John Podesta, Hillary's campaign chairman met for dinner with a small group of well-connected friends, including Peter Kadzik, who is currently a top official at the US Justice Department serving as Assistant Attorney General for Legislative Affairs.
  • Government workers shun Trump, give big money to Clinton
    Federal government employees are opening their wallets to help Hillary Clinton beat Donald Trump on Nov. 8. Of the roughly $2 million that federal workers from 14 agencies spent on presidential politics by the end of September, about $1.9 million, or 95 percent, went to the Democratic nominee’s campaign, according to an analysis by The Hill. Employees at all the agencies analyzed, without exception, are sending their campaign contributions overwhelmingly to Clinton over her Republican counterpart. Several agencies, such as the State Department, which Clinton once led, saw more than 99 percent of contributions going to Clinton.
  • Is the Fed Fix in for the election?
    As we near Halloween, the US stock market looks like it’s whistling past the graveyard near the end of a year that I predicted would be the dawn of “the Epocalypse.” (By that, I meant an economic apocalypse, the likes of which we’ve never seen.) So far, however, that prediction has not manifested. In fact, the market’s fibrillating heartbeat in this graph exhibits a preternatural and eery calm. But it is too calm — too calm to be natural. The stock market plunged on my predicted schedule at the start of the year in what turned into the worst January in the US stock market’s history. Then, suddenly, it was resurrected, great death defied; but, after a rapid recovery it lost consciousness and now behaves more like the walking dead.
  • Leaked Soros Memo Exposes Obama's Secret TPP Negotiations; Hillary “Flip-Flopping”
    In addition to providing a glimpse into the internal, and often confrontational, dialogue that took place within the Clinton campaign on topics ranging from Hillary's email server, to coordination and collusion with the media, to the planning how to attack Bernie Sanders, to the fascinating strife and conflicts of interest within the Clinton Foundation and the Clinton Global Initiative, the Podesta leaks have also been instrumental in providing the public with insight into Hillary's flip-flopping views on the TPP. Indeed, as the WSJ put it recently, a running question through the presidential race has been whether Hillary Clinton is sincere in saying she opposes the 12-nation Asian trade deal that is one of the Obama administration’s top overseas priorities.
  • The True Story: Donald Trump Did Not Mock a Reporter’s Disability
    At the Democratic National Convention speakers are repeating the claim, amplified ad nauseam by the left and establishment GOP opponents over the past year, that Donald Trump mocked the disability of New York Times reporter, Serge Kovaleski. This accusation has served as a very convenient tool to both smear Trump’s character and to avoid having to confront him on substantive political issues. But is it true? Here is the story the media is not telling you.
  • The FBI is investigating new emails related to Hillary Clinton uncovered in probe into Anthony Weiner's sexting
    The FBI said Friday it would reopen its investigation into Hillary Clinton's private email server after learning of “the existence of emails that appear to be pertinent to the investigation” — emails that officials later said were discovered amid an investigation into former congressman Anthony Weiner. FBI Director James Comey, in a letter to congressional leaders, said the team in charge of looking into Clinton's server briefed him Thursday on new emails it found “in connection with an unrelated case.” “The FBI cannot yet assess whether or not this material may be significant,” Comey wrote. “I cannot predict how long it will take us to complete this additional work.”
  • Caterpillar rally imperiled as sales recovery proves elusive
    Caterpillar Inc. is the best-performing industrial stock this year on bets its cost-cutting efforts will reap rewards as demand recovers. The problem is, demand's not recovering. The world's biggest maker of construction and mining equipment is expected to forecast a fifth straight annual sales decline in 2017 when it reports quarterly earnings today. Revenue will slip to $39.5 billion in 2017 from $40.1 billion this year, according to the average of analysts' estimates tracked by Bloomberg. It was $47 billion in 2015. The Peoria-based company hasn't had an annual revenue gain since posting a record in 2012.
  • U.N. Goes All-in For Unlimited Migration
    The United Nations has cooked up a “New Urban Agenda” coming soon to a city near you. It was unveiled this week in Quito, Ecuador, at the so-called Habitat III conference. And part of the plan, enthusiastically embraced by Hillary Clinton, calls for unlimited migration across open borders. Migrants displaced by war, failing economies or other hardships will be seen as having “rights” in nations other than their own. Cities are seen as the key battlegrounds and the U.N. conference in Quito had a lot to say about how your city will be expected to embrace migrants of all types, from all regions of the world. By now most Americans who follow world events are familiar with the U.N’s plan for global governance as envisioned by its “2030 Agenda for Sustainable Development,” approved by some 190 world leaders including President Obama and Pope Francis in September 2015.
  • In emails, aide stressed need to ‘clean up’ Obama’s comments on Clinton’s email
    A top aide to Hillary Clinton appeared to worry in March 2015 that President Obama might be accused of lying about his knowledge of Clinton’s private email server. In a brief email chain released by WikiLeaks on Tuesday, Clinton allies seemed to scurry to respond to Obama’s claim that he was unaware of Clinton’s use of a personal email account while she was secretary of State until after it became public.
  • Major banks mark first-ever international trade using blockchain tech
    The first cross-border transaction between banks using multiple blockchain applications has taken place, Commonwealth Bank of Australia and Wells Fargo & Co said on Monday, resulting in a shipment of cotton to China from the United States. Australian cotton trader Brighann Cotton Marketing bought the shipment bound for the port city Qingdao from U.S. division Brighann Cotton in Texas, the companies and their banks said in a joint statement. The blockchain trade, for 88 bales, totalled $35,000, Commonwealth Bank told Reuters. Blockchain is a web-based transaction-processing and settlement system whose efficiency banks say could slash costs. It creates a “golden record” of any given set of data that is automatically replicated for all parties in a secure network, eliminating any need for third-party verification.
  • As China Liquidates US Treasuries, It is “Gobbling” Up Japanese Government Bonds
    As we reported one week ago, the latest Treasury International Capital report revealed something disturbing: not only had foreign central banks sold a record amount of US Treasurys in the past 12 months, some $346 billion worth… but America's largest foreign creditor, China, sold a record $34 billion in US paper in the latest month, and bringing its total holdings to the lowest since 2012.
  • Hungary Keeps Main Rate at Record Low Before Deposit Squeeze
    Hungary’s central bank left its benchmark interest rate at a record low for a fifth month and signaled its willingness to ease policy further as it rolled out more unconventional measures to loosen monetary conditions. The National Bank of Hungary left the three-month deposit rate at 0.9 percent Tuesday, matching forecasts. The central bank at the same time cut its overnight lending rate to 1.05 percent from 1.15 percent and lowered the mandatory reserve ratio to 1 percent from 2 percent. Hungarian rate setters are shifting their focus to unconventional policy, citing a preference to hold the benchmark rate for a sustained period to avoid having to reverse any potential cuts. On Wednesday, the monetary authority will start pushing out commercial-bank deposits parked in its facilities.
  • The Pentagon’s ‘Terminator Conundrum’: Robots That Could Kill on Their Own
    The small drone, with its six whirring rotors, swept past the replica of a Middle Eastern village and closed in on a mosque-like structure, its camera scanning for targets. No humans were remotely piloting the drone, which was nothing more than a machine that could be bought on Amazon. But armed with advanced artificial intelligence software, it had been transformed into a robot that could find and identify the half-dozen men carrying replicas of AK-47s around the village and pretending to be insurgents. As the drone descended slightly, a purple rectangle flickered on a video feed that was being relayed to engineers monitoring the test. The drone had locked onto a man obscured in the shadows, a display of hunting prowess that offered an eerie preview of how the Pentagon plans to transform warfare.
  • China's Banks Are Running Out of Ways to Keep Profits Growing
    China’s five largest banks are facing an increasingly daunting balancing act as they try to avoid snapping a streak of rising earnings. The state-controlled lenders have managed to keep profits increasing every year since 2004, sending a message about the resilience of China’s financial system. Keeping that trend alive is becoming tougher because of rising bad loans and pressure on lending margins. While analysts expect another quarter of profit growth when Bank of China Ltd., Industrial & Commercial Bank of China Ltd., Agricultural Bank of China Ltd., China Construction Bank Corp. and Bank of Communications Co. report earnings this week, it might just be a matter of postponing the inevitable. For the full year, the five are projected to post a 2 percent decline in net income, according to analysts surveyed by Bloomberg.
  • After 20,000 Job Cuts, World’s Top Shipyards Brace for More
    South Korea’s shipbuilding industry — home to the world’s top three manufacturers — has eliminated more than 20,000 jobs this year. They may not even be halfway through. Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. are among builders that have sent workers home and the industry could lose as many as 40,000 more positions by the end of this year, the Korea Labor Institute estimated. The sector employed 163,000 people at the end of June, down from 183,000 at the end of December, according to the Korea Offshore & Shipbuilding Association. The “Big Three” yards have lost a combined 6.6 trillion won ($5.8 billion) in the last six quarters amid delivery delays and a plunge in demand for new vessels and shipping platforms used for drilling oil in deep sea. Once South Korea’s biggest export, shipbuilding has now slipped down the ranks of the top 10, prompting a state-led support package. “If things don’t start to turn around next year, we could be on a long and painful path,” said Hong Sung-in, a researcher at the Korea Institute for Industrial Economics & Trade in Sejong, South Korea.
  • Pastor Lindsey Williams introduces Pastor David Bowen – October 27, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his fifth short weekly video for readers of Pastor Williams’ weekly newsletter.

THE FINAL BUBBLE! Pastor Williams says the information shared by this economist is outstanding and correct. What he says will happen. >>> CLICK HERE TO WATCH THE VIDEO (This video is being shared because the information within it is truly good and correct. Half way through the video it turns into a sales pitch to sell a book and related products. Pastor Williams has asked me to state that Pastor Williams and LindseyWilliams.net do not endorse this book).

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Latest News Articles – October 27, 2016

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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Lindsey Williams - Latest News Articles

Latest News From October 21, 2016 to October 27, 2016:

  • The Dark Agenda Behind Globalism And Open Borders
    When people unfamiliar with the liberty movement stumble onto the undeniable fact of the “conspiracy” of globalism they tend to look for easy answers to understand what it is and why it exists.  Most people today have been conditioned to perceive events from a misinterpreted standpoint of “Occam’s Razor” — they wrongly assume that the simplest explanation is probably the right one. In fact, this is not what Occam’s Razor states. Instead, to summarize, it states that the simplest explanation GIVEN THE EVIDENCE at hand is probably the right explanation.
  • How the Ballooning “Pension Crisis” Will Impact the Economy
    In the very simplest terms, the Dallas Police & Fire Pension Fund is going broke, and the police who are counting on it for their retirement are beginning to panic. Police involved are retiring as early as possible and taking cash payouts because they fear that the fund will run dry and future checks may not be forthcoming. The whole thing is beginning to look like a run on a bank and it is just making matters worse. It’s not that the DPFP is all that different from most of the public and private retirement funds; it’s just that what is happening has been noticed and made the headlines.
  • Here’s How Long-Term Silver Prices Can Get to $150/Oz
    Precious metals analyst Gary Christenson explains the phenomenon of exponential increases in asset values over time, and what that means for silver prices. Our financial systems create exponential increases in: Debt, Prices for stocks, Prices for commodities, Currency in circulation, Prices for gold and silver.
  • Housing Bust 2? Subprime No-Down-Payment Mortgages Surge, “Shadow Banks” Dominate
    The value of the US housing market has ballooned to $26 trillion. In many markets, prices exceed even the peak of the prior house price bubble that blew up so spectacularly. This construct is weighed down by $14 trillion in mortgage debt, or about 76% of US GDP. Of that, $10 trillion is owed on one- to four-family residences. The numbers are big – and they matter. But who’s doing the lending? More and more: nonbanks, evocatively called “shadow banks.” They have now overtaken commercial banks “to grab a record slice” of government-guaranteed mortgages, Attom Data Solutions reported in its housing report.
  • Here’s what happens when a currency hits an all-time low
    I’ll start with an admission that I don’t do vacations very well. Or frequently. Over the past ten years I’ve probably only taken a week or two off in total. A big part of that is a deep character flaw of me being a workaholic… but that’s a natural extension of genuinely loving all the exciting business ventures and wonderful people that I’m involved with each day. I do recognize, however, that taking a break is healthy, and I’m trying to get better at it. The last few weeks in particular have been a blur. My fellow executives at our agriculture business and I have been busy negotiating credit facilities with some of the largest financial institutions in the world, all while the company has been planting hundreds and hundreds of acres at a record pace.
  • Why the Jobs Aren’t Coming Back
    The candidates in the current campaign – or any campaign – are all promising to “bring back good jobs” to “create good jobs.” When asked how they would do that, they are all a little light on details. About a year ago, Joe Biden was in Michigan to celebrate the opening of a new manufacturing plant that made “small metal clamps” used in all kinds of industries to hold wiring, hoses. Etc. in place. The largest market is the auto industry but they are sold to hundreds of other manufacturers. Depending on size, shape, and material, these parts sell for a few pennies or less. You have to make a lot of these parts to have any substantial billing numbers. This new plant is fully automated and runs 24/7/365 with just 14 people. Joe was quite happy saying “manufacturing is returning to America.”
  • Rents Are Too Damn High: NYC Retail Vacancies Soar As Commercial Rents Start To Rollover
    Cushman & Wakefield recently released their 3Q 2016 New York City retail rental update and it's pretty much universally bad news for commercial real estate owners in Manhattan.  Retail rental rates declined YoY in 9 out of the 11 Manhattan submarkets tracked by Cushman while vacancy rates soared to over 20% in several markets with the “Lower Fifth Avenue” corridor registering the highest vacancy rate in the city at 29.3%.
  • It Is Happening Again! Voting Machines Are Switching Votes From Donald Trump To Hillary Clinton
    Is the 2016 election in the process of being stolen?  Just a few weeks ago I issued a major alert warning that this exact sort of thing might happen.  Early voting has already begun in many states, and a number of voters in Texas are reporting that the voting machines switched their votes from Donald Trump to Hillary Clinton.  The odd thing is that none of the other choices were affected when these individuals attempted to vote for a straight Republican ticket.  If Hillary Clinton is declared the winner of the state of Texas on election night, a full investigation of these voting machines should be conducted, because there is no way that Donald Trump should lose that state.  I have said that it will be the greatest miracle in U.S. political history if Donald Trump wins this election, but without the state of Texas Donald Trump has exactly zero chance of winning.  So those living down in Texas need to keep reporting anything unusual that they see or hear when they go to vote.
  • Pre-crime returns to America with new Airbnb law
    On Friday afternoon, New York state Governor Andrew Cuomo signed a bill making it illegal to advertise your home for short-term rent on websites like Airbnb. The law specifically targets New York City homeowners in apartment buildings who advertise their properties, or even just a spare room in their homes, to rent for less than 30 days at a time. It’s important to note that New York already passed a law a few years ago making it illegal to rent your home out to short-term tenants. This new law makes it illegal to ADVERTISE… which is basically pre-crime.
  • Jim Rogers: It’s Time to Prepare; Economic And Financial Collapse Imminent
    Regardless of how much information gets released through Wikileaks or Project Veritas revealing grossly immoral, or even criminal conduct between members of the Clinton campaign, neither the mainstream media nor our woefully corrupt Department of Injustice have done anything to even slow the Clinton Crime Syndicate’s march toward the oval office. With each passing day that brings us closer to the election, lies continue to be pumped out with impunity to the voting public at large by the very institutions the public should be able to trust to give them fair and honest reporting or education on important matters. In the following interview, legendary investor Jim Rogers, explains in detail why nothing being reported about the economy is true, and why financial and economic collapse is imminent. Who is Jim Rogers? Why should you care what he says?
  • USA Actually Bankrupt Now-Laurence Kotlikoff
    Renowned Boston University Economics Professor Laurence Kotlikoff is running for President with a write-in campaign. He says we need an economic expert, not a politician, to fix our severe financial problems.  Dr. Kotlikoff explains, “Our democracy is in trouble.  We have 14% of the electorate who have chosen Hillary Clinton for us to vote for, and a different 14% have chosen Trump to vote for.  The vast majority of the population realizes neither Clinton nor Trump are qualified.  Just on the economic front, these folks have no idea how fiscally sick our country is.  The fact that we have off-the-book liabilities that make our true debt roughly 15 times larger than the amount the government is actually reporting, so, our true debt is about $206 trillion.  The debt the Congressional Budget Office is telling us about is about $13.5 trillion. . . . We’re short $206 trillion.  The country is 53% underfinanced.  So, the country is actually bankrupt right this minute. It’s not $206 trillion in the future that we owe, it’s $206 trillion today.  It’s our credit card bill, and we’re broke.”
  • Bank of England Asks UK Banks To Detail Their Exposure To Deutsche And Italian Banks
    In what may or may not be a coincidence, just hours after Bloomberg reported that DB launched a probe into whether it “misstated” derivatives, moments ago the FT reported that the Bank of England is seeking details from large British banks on their current exposure to Deutsche Bank and some of the biggest Italian banks, including Monte dei Paschi, “amid mounting market jitters over the health of Europe’s financial sector.” The FT notes that the request was made in recent weeks by the BoE’s Prudential Regulation Authority as investors sold off Deutsche and Monte dei Paschi, both of which have been the subject of scrutiny over their capital levels. Supervisors worldwide have attempted to curtail the links between large institutions since the 2008 banking crisis, when the collapse of Lehman Brothers and other big groups threatened to drag down the entire global financial system.
  • US judge approves $15bn VW scandal settlement
    A US court has approved Volkswagen's $15bn (£12.3bn) settlement package for almost half a million customers in America over the diesel emissions scandal. Under the deal, signed off by a federal judge, the owners of 475,000 VWs and Audis with qualifying diesel engines can now either have their vehicle repaired or formally request the company buys it back. In addition, consumers can also net compensation of up to $10,000 (£8,200) in cash. The settlement is not the end of the road for the group's troubles in the US as it still yet to agree terms with the owners of 3-litre diesel models. It faces regulatory action too – relating to the fitting of software designed to fool emissions tests.
  • Monte dei Paschi shares suspended after 23% fall
    Shares in Italian bank Monte dei Paschi have been temporarily suspended from trading after plummeting 23%. It came after the ailing lender published a make-or-break turnaround plan which initially caused the stock to rally by up to 26.5%. Italy's third-largest bank said it would write down bad loans, lay off one in 10 of its workers and raise €5bn (£4.4bn). The European Central Bank had ordered it to reduce its bad debt in April. “There is a lot of speculation ahead of the bank's plan… amid rumours and leaks of possible interest of new investors in the bank,” Vincenzo Longo, a strategist for IG Markets in Milan, told Bloomberg. “We will soon discover if the plan is achievable and sustainable.”
  • The Boredom Before The Storm
    With all the surprising and/or disturbing things going on – Brexit, China’s soaring debt, US/Russia/China saber rattling, the, um, unique US presidential race, the cyber attack that shut down big parts of the US Internet – you’d think that an unsettled world would be reflected in skittish financial markets. Instead we’re getting the opposite, with stock price movements becoming more and more placid as the year goes on. The following chart shows the volatility index (VIX) for the S&P 500 which, after some notable action in 2008 and 2011, has become ever-calmer, with recent readings comparable to the (in retrospect delusional) levels of 2006, just before the biggest financial crisis since the Great Depression.
  • This Is What Gold Does In A Currency Crisis, Brexit Edition
    In June the UK shocked the world – or at least the world’s elites – by voting to pull out of the European Union. Economists predicted disaster, EU leaders threatened pain for British exporters and tourists, and the media settled in to watch the UK shrivel and die. Four months later, the appropriate response is a yawn rather than a scream.
  • Rigged Elections Are An American Tradition — Paul Craig Roberts
    Do Americans have a memory? I sometimes wonder. It is an obvious fact that the oligarchic One Percent have anointed Hillary, despite her myriad problems to be President of the US. There are reports that her staff are already moving into their White House offices. This much confidence before the vote does suggest that the skids have been greased. The current cause celebre against Trump is his conditional statement that he might not accept the election results if they appear to have been rigged. The presstitutes immediately jumped on him for “discrediting American democracy” and for “breaking American tradition of accepting the people’s will.”
  • Paul Volcker Surfaces And What The Elites Are Trying To Foist On The Unsuspecting Public
    Paul Volcker surfaces and what the elites are trying to foist on the unsuspecting public. Volcker Surfaces. John Embry:  “Eric, the presidential campaign and debates have been so sophomoric as to be embarrassing to everyone connected to the whole process.  It’s so bad it triggered an article in the New York Times by two luminaries, Paul Volcker and Peter G. Peterson, titled Ignoring The Debt Problem…
  • The Road To Financial Armageddon
    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, spoke with King World News about the road to financial Armageddon. Gold Has Skyrocketed In Foreign Currencies. Egon von Greyerz:  “As the gold market takes a break in its journey to much higher levels, it is good to step back a bit and understand why gold has appreciated so dramatically in the last 100 years and why this will continue for many years to come…
  • Jean-Marie Eveillard Oversees $90 Billion Warns This Might End Badly And There Is A Possibility Of ‘Extreme Outcomes’
    News that the grand central bank experiment might end badly and there is a possibility of “extreme outcomes.” Eric King:  “There’s talk now of helicoptering in trillions of dollars.  Looking at the bigger picture for the West, you are a student of Austrian economics and you’ve said all along that we can’t print our way into prosperity or create more debt to get rid of the debt problem we have.  And when you look at this so-called solution of helicoptering in trillions of dollars, that’s not going to solve anything.  That’s just going to take this nightmare and make it worse.” Jean-Marie Eveillard:  “It (the behavior of central bankers) is mindless and I think there will be unintended consequences.  I suspect that it might end badly, and we have to worry about the long-term.  I want to be careful here because I’m so old that I’ve been in this business one way or the other for a little more than half a century…
  • America Needs To Wake Up – There is ZERO Hope For Our Country Until We Turn From Our Evil Ways
    America is never going to be great again until we deal with the wickedness in our own hearts. In recent days I have listened to so many national leaders tell us that Donald Trump is going to win the election and that this will usher in a new golden age of blessing and prosperity for America. Supposedly this is going to happen even though we continue to slaughter babies on an industrial scale, sexually-transmitted diseases are spreading at the fastest pace in decades, the percentage of births out of wedlock is more than 10 times higher than in 1940, and approximately two out of every three Christian men watch pornography on a regular basis. Even though there aren’t any signs of widespread national repentance, we are supposedly going to be showered with wealth, favor, protection and good times for as far as the eye can see. You can believe this if you want, but it doesn’t have any basis in reality.
  • Are The Polls Rigged Against Trump? All Of These Wildly Divergent Surveys Cannot Possibly Be Correct
    Some of these polls are going to turn out to be dead wrong.  With just over two weeks to go until election day, some surveys are showing a very tight race, while others say that Hillary Clinton has a massive lead.  For example, the tracking polls put out by Rasmussen, the L.A. Times and IBD/TIPP have all consistently shown that the race is either tied or Donald Trump is winning by a small margin.  But Fox News has Hillary Clinton ahead by six points, Bloomberg has Clinton ahead by nine points, and the latest ABC News/Washington Post poll has Clinton ahead by twelve points.  So what in the world is going on here?  If the latest ABC News/Washington Post poll is correct, we are likely to see a landslide of historic proportions for Clinton, and this is what many of the experts are now projecting.  But if Rasmussen and the L.A. Times are correct, the race could easily go either way.  So who are we supposed to believe?  Could it be possible that some of the polls are rigged against Trump?
  • If Donald Trump Wins The Election, It Will Be The Biggest Miracle In U.S. Political History
    Are we about to see the largest election day miracle of all time?  Because as I will show in this article, that is precisely what it is going to take in order for Donald Trump to win.  Before I go any further, I want to make it exceedingly clear that I am not saying what the outcome will be on November 8th.  As I recently told a national television audience, I do not know who is going to win.  In this article I am simply going to examine the poll numbers and the electoral map as they currently stand.  But in this bizarre election things can literally change overnight, and it is entirely possible that we could still have another “October surprise” or two before it is all said and done.  And without a doubt Donald Trump desperately needs something “to move the needle”, because if the election was held today Hillary Clinton would almost certainly win.
  • Trump is Molotov Cocktail You Can Throw on Crooked System-Catherine Austin Fitts
    Investment advisor Catherine Austin Fitts is backing Donald Trump. Fitts explains, “Michael Moore said in an interview that Donald Trump is a Molotov cocktail you can throw on the system.  Interestingly enough, if you look at the federal system, it has a negative return on investment to taxpayers.  If you believe you can never fix that, then throwing a Molotov cocktail into the middle of that is the most intelligent thing you can do for productivity.  It was when I wrote the theme for productivity for the second quarter wrap-up I realized . . . I may have profound disagreements with Trump’s style, but I can throw the Molotov cocktail (voting for Trump). . . . I was going to vote for Gary Johnson, but in the second debate when Trump said I will appoint a special prosecutor, I stood up and cheered.  For the first time, we were talking about real accountability in America.  Then, when he said if I were the President, you’d be in jail, I said that’s it, I am giving money to Donald Trump because that is the first time I have ever seen someone of national prominence on corporate media hold the leadership accountable for their actions.”
  • MSM Lies for Hillary, Russia US Closer to War, Economic Update
    The mainstream media (MSM) is totally lying to the public about everything from voter fraud to Wiki Leaks. There are many current examples of possible voter fraud such as the recent revelation by the Pew Center that 24 million U.S. voter registrations are “significantly inaccurate.” Pew Center also says there are 1.8 million dead people still on the voter rolls. The other part of the MSM lie is done by omission. The MSM is simply not covering major news stories that are negative to the Clinton campaign. I’ve said it before and I’ll say it again, this is pure fraud on shareholders and the public by so-called news organizations that are really functioning as Democrat propaganda shills.
  • Banks’ Brexit Exodus to Start Before Year-End, Lobby Chief Says
    Banks in the U.K. will start relocating operations out of the country by year-end, months before formal talks to leave the European Union begin, as London looks set to lose access to the EU single market, the head of the British Bankers Association said in a newspaper commentary. International banks’ “hands are quivering over the relocate button,” Anthony Browne, chief executive officer of the banking lobby group the BBA, wrote Sunday in the Observer newspaper. “Many smaller banks plan to start relocations before Christmas; bigger banks are expected to start in the first quarter of next year.” Without identifying any banks by name, he said lenders can’t wait until the last minute and have to “plan for the worst,” especially because “public and political debate at the moment is taking us in the wrong direction.”
  • Central African Republic: Four dead in UN Bangui shooting
    Four people have been killed during protests against the UN peacekeeping mission in Central African Republic. Peacekeepers opened fire when demonstrators tried to force their way into the UN headquarters, says a BBC reporter, who saw bodies being taken away in a police vehicle. The UN denies using live bullets and says its soldiers only used tear gas.
    A group of Central Africans wants the UN mission to withdraw, saying it is failing to protect people. The peacekeepers were deployed after civil war broke out in 2013 when then-President Francois Bozize was ousted by mainly Muslim Seleka rebels.
  • Where the Next Crisis Will Come From
    Next year ends in a 7. If you’re superstitious or a little loose with statistics, that makes us due for another financial crisis. The biggest one-day stock drop in Wall Street history happened in 1987. The Asian crisis was in 1997. And the worst global meltdown since the Great Depression got rolling in 2007 with the failure of mortgage lenders Northern Rock in the U.K. and New Century Financial in the U.S. You can’t really mark the next crisis down on your calendar, of course. The point is that crackups come fairly regularly. And some of the prerequisites for the next one do seem to be falling into place.
  • Banker Deaths and WikiLeaks Deaths Have a Common Thread
    Julian Assange, founder and Editor-in-Chief of WikiLeaks, is the man responsible for the daily release of emails showing the Hillary Clinton presidential campaign to be an unprecedented machine whose tentacles and snitches reach into Wall Street, big corporations and big media. Earlier this year, WikiLeaks released emails showing that the Democratic National Committee had maliciously conspired to undermine the presidential campaign of Clinton challenger, Senator Bernie Sanders, in order to elevate Hillary Clinton to the top of the ticket.
  • Look up! Facial recognition may soon replace MRT fare cards for Singapore commuters
    Singapore commuters might soon be able to ditch their MRT fare cards and/or rely less on EZ-Link cards. The Straits Times today reported that Singapore Technologies (ST) Electronics has plans to roll out a facial recognition system that will identify commuters passing through the gates and charge the fares through post-paid methods such as credit cards (similar to ride-hailing apps like Grab and Uber). To be eligible to use the Advance Gate System, commuters must use a self-help terminal to sign up for an account, which includes having their photographs taken. This terminal will also allow commuters to purchase tickets, top up fare cards, and interact with customer service officers via video conferencing.
  • The Drug Story
    Thirty years ago the Standard Oil Company became impressed with the methods of the big packing houses which used, processed and sold every part of the hog but the squeal. Their sales research department went ‘way back to the 1860’s when “Old Bill” Rockefeller, the itinerant pappy of John D. (the first) and a patent medicine showman, used to palm off bottled raw petroleum on the yokels as a cure for cancer. “Old Bill” was an upstate New York farmer, until 1850. He moved to Cleveland then, entered the patent medicine racket and had himself listed as a “physician” in the city directory. In selling raw petroleum in a pretty bottle “Old Bill” did nothing new.
  • Deutsche Bank pays $38 million to settle silver manipulation lawsuit
    2016 is shaping up as the year when countless conspiracy theories will be confirmed to be non-conspiracy fact: from central bank rigging of capital markets, to political rigging of elections, to media rigging of public sentiment, and now, commercial bank rigging of silver. In short, tinfoil hat-wearing nutjobs living in their parents basement have been right all along. Two weeks ago we reported that “In A Major Victory For Gold And Silver Traders, Manipulation Lawsuit Against Gold-Fixing Banks Ordered To Proceed,” however one bank was exempt: Deutsche Bank. The reason why was known since April, when we first reported that Deutsche Bank had agreed to settle the class action lawsuit filed in July 2014 accusing a consortium of banks of plotting to manipulate gold and silver.
  • Bombardier to cut 7,500 jobs, raising fears for British workforce
    Bombardier has announced it will cut another 7,500 jobs worldwide, raising fears for its British aerospace and rail workforce. It is the second wave of job cuts announced by the Canadian manufacturer in a year, meaning it will shrink its workforce by about 20% in two years. The multinational did not give full details of where the jobs would be lost other than 2,000 redundancies in Canada, while confirming that two-thirds of the total would be in Bombardier Transportation, the division that builds and maintains trains and track systems.
  • Here's The 30 Seconds After The Last Debate That CNN Would Rather You Didn't See
    And continued and constant propaganda-peddling that the race is over because Trump's sexual assauly allegations are “sucking all the air out of the room” compared to Hillary's stream of WikiLeaks facts. CNN made the mistake of asking its focus group of real Americans who won the final debate… and instantly regretted it…
  • Government borrows higher-than-expected £10.6 billion
    The UK's public finances were in worse shape last month as the Government surprised economists by borrowing a higher-than-expected £10.6 billion. The Office for National Statistics (ONS) said public sector net borrowing, excluding public sector banks, jumped by 14.5% – or £1.3 billion – in September, compared with the same month in 2015. Economists were pencilling in a figure of £8.5 billion. However, Government borrowing excluding banks in the financial year to date – April to September – fell by £2.3 billion to £45.5 billion in contrast with the same period last year.
  • Air Force Chief Foresees Decades More US Wars
    In comments yesterday at a spouse and family forum, Air Force Chief of Staff Gen. David Goldfein discussed the growing number of airmen being deployed abroad for longer periods of time, saying that this problem is going to continue for decades to come. “We’ve been deploying now for 15 years, we’ve probably got 15, 20 years to go,” Gen. Goldfein warned. This wasn’t just about the current wars, either, as the general laid out some of the new deployments against new enemies, citing a “resurgent Russia and China” as driving future deployments.” The Air Force says they want a 1:2 deployment time, with airmen spending six months abroad then remaining at home for a year afterwards. Gen. Goldfein insisted the Air Force needs to be more flexible on the matter of combat deployments, saying he thinks there are too many individual deployments and not enough group deployments.
  • Obamacare Premiums Up 30% In TX, MS, KS; 50% In IL, AZ, PA; 93% In NM: When Does The Death Spiral Blow Up?
    Obamacare premiums are skyrocketing out of sight. A jump of a mere 30% looks like a good deal compared to jumps of over 50% in six states, and 93% in New Mexico. Congratulations are in order for those living in a handful of states whose premiums only rose 20%. The Wall Street Journal reports Rate Increases for Health Plans Pose Serious Test for Obama’s Signature Law.
  • Risk of ‘Mass Exodus’ of Doctors from Medicare
    In what may be the most significant modification to Medicare since the program began in 1966, on Oct. 15, the Centers for Medicare and Medicaid Services (CMS) released the final rule for implementing the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). It dramatically changes how Medicare pays doctors for their services. Does it really matter how doctors get paid? Yes — the success or failure of the new payment system will profoundly influence the future of the U.S. health care system. And while the goals of MACRA are laudable, its implementation carries a number of unknowns and the potential for unintended consequences — for patients and doctors alike.
  • The Federal Reserve Is Hillary Clinton’s Secret Weapon
    Say what you want about Donald J. Trump, but he is correct about one thing: the Federal Reserve has, with near certainty, been holding interest rates down for political purposes — namely, to aid Hillary Clinton in getting elected president of the United States. In September’s first presidential debate, Mr. Trump said: “We have a Fed that’s doing political things. … The Fed is [being awfully] political by keeping the interest rates at this level. And believe me: The day Obama goes off, and he leaves [office], and goes out to the golf course for the rest of his life to play golf, [is the day that] they raise interest rates. … The Fed is being more political than Secretary Clinton.” The Federal Open Market Committee's (FOMC) September meeting minutes, released on Wednesday, have proven Mr. Trump’s assertion to be true. As the 2016 election season draws to a close, the Fed has suddenly become more bullish on the prospect of raising interest rates — and this precipitous change-of-heart has come despite there being few notable signs of hope in the US’s economic data.
  • Social Security checks get measly $3.92 bump in 2017
    The typical retiree's monthly Social Security check will get only $3.92 bigger next year. That amounts to an increase of just 0.3% — the smallest ever put in place to help cover higher prices. That's still an improvement from this year, when the lack of inflation kept benefits from increasing at all. The average retiree's monthly benefit is currently $1,305.30. Social Security benefits go to 66 million people, including retirees, widows, orphans and people with disabilities. The annual cost of living adjustment (COLA) was put in place in 1975.
  • Social Security Taxes to Rise for Higher-Income Americans
    Higher-income workers will pay more in payroll taxes next year to support Social Security, while retirees and other program beneficiaries see a scant increase in their monthly benefits. Nearly 66 million people, or roughly 1 in 5 Americans, receive Social Security and Supplemental Security Income payments from the U.S. government. Based on subdued inflation over the past two years, their benefits will see a 0.3% cost-of-living increase for 2017 following no adjustment this year, the Social Security Administration said Tuesday.
  • To Some, it “Feels More Like a Crash”
    “There’s enormous risk in public markets because that’s the one that central banks have distorted to the greatest extent,” El-Erian, chief economic adviser at Allianz SE, told Bloomberg TV, in reference to stock and bond markets. He confessed to the heresy of holding 30% of his portfolio in cash. “It’s very hard to say I’m going to buy a basket of public equities and go to sleep for the next five to 10 years and feel good about the returns. Similarly with bonds,” he said. These “public markets” are not the only markets that central banks have totally distorted and larded with “enormous risks.” Practically everything that is an asset has been inflated, including residential and commercial real estate in much of the country, and assets that are the objects of admiration of the wealthy: collector cars and art. But these markets have started to crack at the edges, and some of the cracks are spreading.
  • Is Chicago’s Housing Market Next?
    Does it always start at the top? Because there’s just no letup in dismal tidbits piling up about big-city high-end condo market: Manhattan, San Francisco, Miami – and now Chicago too? Just last year, things were still so good on the Magnificent Mile, those tony 13 blocks of Michigan Avenue from the Chicago River north to Oak Street, of landmark towers, shops and restaurants – rents rank among the most expensive in the country – museums, hotels, and high-end condos. April last year, the 65th-floor penthouse at the Park Tower on 800 N. Michigan Ave sold for $18.75 million, “to a firm with ties to ‘Star Wars’ creator George Lucas and wife Mellody Hobson, president of a Chicago investment firm,” the Chicago Tribune speculated. It was an all-time record. The real estate business was ecstatic. But it might have marked the peak.
  • Housing starts unexpectedly plunge
    New residential construction unexpectedly fell in September. Housing starts fell by 9% at a seasonally adjusted annual rate of 1.05 million, according to the Census Bureau. Starts of multi-family structures with five or more units fell 39%, and were the biggest drag on overall construction. Regionally, the biggest drop was recorded in the Northeast, where new construction fell 36% from August, and 32% year-on-year. Housing starts in the South — typically the strongest region for construction in the US — fell 5.3% from August. Economists had forecast that starts rose by 2.9% at a rate of 1.18 million, according to Bloomberg.
  • WikiLeaks: Donna Brazile Shreds Obama Economy
    In an email to Hillary Clinton campaign Chair John Podesta from February 2016, released Friday by WikiLeaks, now-acting chair of the Democratic National Committee Donna Brazile gave a frank and honest assessment of the Obama economy — and it wasn’t good. “I think people are more in despair about how things are — yes new jobs but they are low wage jobs,” she admits. “HOUSING is a huge issue. Most people pay half of what they make to rent,” she continued.
  • Visa to Launch Blockchain Payments Service Next Year
    Visa has announced new details about a forthcoming business-to-business payments service developed in partnership with blockchain startup Chain. Dubbed Visa B2B Connect, the near real-time settlement platform is aimed at providing a more secure, transparent mechanism for businesses making payments via Visa’s netowrk. That the two firms would co-develop a platform for payments is perhaps unsurprising given their existing relationship and the fact that Visa was took part in Chain’s $30m funding round, announced last September. The credit card giant has made other blockchain tests related to payments public in the past year.
  • Will a US Digital Currency Make the Fed Even More Dangerous?
    In a recent episode of Ron Paul’s Liberty Report, the former presidential candidate and Libertarian icon examines the future of digital currency. Paul and co-host Daniel McAdams talk with NYU Law Fellow and digital currency expert Max Raskin about how a future form of US digital money might give the Federal Reserve even more control over monetary policy than it enjoys today.
  • China House Price Bubble Soars Most Ever, Government Freaks out, Preannounces Plunge
    As a consequence of a dizzying buying frenzy in September, the average price of new homes in China soared 11.2% from a year ago, after a 9.2% jump in August, the National Bureau of Statistics reported today. It was the 12th month in a row of year-over-year gains, and the largest increase on record. The average price of new homes rose in 63 of the 70 cities in the index. It dropped in six cities and remained flat in one. But all heck broke lose in tier-one cities: In Beijing, the average price skyrocketed 27.8%, in Shanghai 32.7%.
  • Who’s Powering the War on Cash?
    On Monday in Japan, Apple CEO Tim Cook vented his spleen once more against physical currency, telling the Nikkei that “we don’t think the consumer particularly likes cash.” It’s a bizarre conclusion to reach, especially in Japan where cash is still the undisputed king. At ¥90 trillion ($885 billion), or about a fifth of gross domestic product, the value of banknotes in circulation is the highest in the world as a proportion of the economy. Many small businesses, including many restaurants, don’t even take plastic. Yet, the country was also the first to popularize mobile wallets and smartphones. “We would like to be a catalyst for taking cash out of the system,” Cook said, his mind fixed on Apple Pay, which takes a cut on every transaction it processes.
  • Before It Is Over This Decline Will Engulf Every Country On The Planet
    On the heels of yesterday’s KWN viral interview with Gerald Celente This Is The Shocking Truth About How Bad The Economy Really Is In The United States, it appears that an already bad situation for the U.S. and the rest of the world may be about to get a lot worse. What Celente noticed after yesterday’s viral interview about the collapsing restaurant industry in the United States was this note from Stifel, Nicolaus & Co. analyst Paul Westra, who just cautioned: “We warn investors that restaurant-industry sales tend to be the ‘Canary that Lays the Recessionary Egg,’”  He also stated this “may also represent a harbinger to a U.S. recession in early 2017.”
  • What is the Taxpayer Protection Pledge?
    “It has transformed American politics.” — Jonathan Alter, Newsweek. “Signing it has become de riguer for GOP candidates running for federal or statewide offices across the country.” — The Hill. “Americans for Tax Reform's Taxpayer Protection Pledge has solidified opposition to tax increases in Congress and state legislatures over the years.” — Michael Barone. “The Pledge has become something of a rallying cry in conservative circles.” — National Journal. Politicians often run for office saying they won't raise taxes, but then quickly turn their backs on the taxpayer. The idea of the Pledge is simple enough: Make them put their no-new-taxes rhetoric in writing.
  • 50 Holistic Doctors Have Mysteriously Died In The Last Year, But What’s Being Done About It?
    Recently, Erin Elizabeth from HealthNutNews wrote up an expose about the past year’s findings concerning the many disappearances of holistic doctors. In case you’re not aware, the confusing conundrum first began when Dr. Bradstreet was found dead exactly one year ago – yes, on Father’s Day – in the U.S. The noted autism doctor, researcher, and parent was found in a river with a gunshot wound to the chest. While authorities at first thought his death was a result of suicide, it has since been confirmed that Dr. Bradstreet was murdered and that the wound was not self-inflicted. His family, like the families of many other missing and dead naturopathic practitioners and MD doctors, believe that he was murdered for using and promoting controversial therapies, such as GCMaF.
  • Did a Secret Central Banking Cabal Just Turn AGAINST the US?
    Quietly and with little if any attention, foreign Central Banks have begun DUMPING US Debt. Take a look at this chart. Does this look like a bull market to you? Because to me it looks like it could be the beginning of a panic sale. Put simply, foreign Central Banks haven't owned this little US Debt since 2012. Bear in mind, these SAME Central Banks are currently buying their OWN debt (national and corporate) AT A PACE of nearly $200 BILLION per month!!!
  • List of dead bankers 2016
    Yep. The list keeps growing. Just focusing on major players, or cases where ‘foul-play’ may be involved. I’ve done a little research into the causes of all these bankers dying, which can be found at the bottom of the article. Having had to spend too much time on youtube recently, has led to the accumulation of the latest and most credible conspiracy theories. Perhaps the most interesting, is the demise of the common-or-garden ‘master of the universe’. Banker, as they were once known.
    They’ve been having problems with mortality recently. And there’s a very long list of them.
  • Canada Walks Out Of European Trade Talks, “Deal Impossible”
    With ‘trade' at the center of any substantive differences between US presidential candidates, 1000s protesting ‘trade' deals across Europe, ‘trade' collapsing in China, and lame-duck Obama trying to push his ‘trade' agenda, it is perhaps shocking that Canada’s trade minister walked out of talks to finalize a trade pact with the European Union, saying it now seems the bloc is incapable of reaching such agreements and that Canadian officials are returning home.
  • US Freight Volume Drops to Lowest Level since 2009, “Industrial Recession” Hits Full Stride, Overcapacity Crushes Rates
    This just keeps getting worse. The Cass Freight Index, tracking US shipment volumes by all modes of transportation, fell 3.1% in September from a year ago, the 19th month in a row of year-over-year declines, and the worst September since 2009! Donald Broughton, Chief Market Strategist at Avondale Partners, wrote in the report: “After offering a glimmer of “less bad” hope in August [the index was down “only” 1.1% year-over-year], the Cass Freight Index shipments data in September disappointed, providing hindsight that August only gave us “false hope.” September data is once again signaling that overall shipment volumes (and pricing) continued to be weak in most modes, with increased levels of volatility, as all levels of the supply chain (manufacturing, wholesale, retail) continue to try and work down inventory levels.”
  • Head Of Democratic Party Makes Stunning Admission: “The People Are In Despair About How Things Are”
    While readers may be used to tin-foil-hat-wearing digitial dickweeds and alt-right bloggers seeing through the veil of ignorance and media hype that hides a considerably uglier economic reality than The White House (and the stock market) might suggest, many Democrats may be shocked to discover that none other than now-acting chair of the Democratic National Committee Donna Brazile agrees…
  • Shadow Banks, No-Down-Payment Subprime Mortgages in Canada’s House Price Bubble
    “The pundits have been raising red flags on the Canadian housing market for more than five years – and have been consistently wrong,” former Royal Bank of Canada CEO Gord Nixon told BNN today, in response to the federal government’s new mortgage rules designed to tamp down on risk in the housing market: “I appreciate why policymakers have been moving in the direction they have been moving but we have yet to have – and I don’t believe we are going to have – a major, major collapse in housing.”
  • DNS Cyber Attack Returns As Northeast Internet Traffic Grinds To A Crawl For Second Time
    What was supposed to be a temporary internet outage, after an attack “of unknown origin” on DNS service provide DYN took down much of the internet in the North East, appears to have returned, and moments ago DYN announced that it was once again experiencing the same “attack” as this morning. DDOS ATTACK MAY ALSO AFFECT MANAGED DNS ADVANCED SERVICES: DYN. DYN SAYS DDOS ATTACK MAY CAUSE POSSIBLE DELAYS IN MONITORING. Even the White House was involved.
  • It Starts: Shutdowns, Production Cuts, Layoffs at Auto Plants
    It’s been years since we’ve heard about production cuts by automakers, but here they come. After a record-breaking 2015, the hot air is audibly hissing out of the auto industry. September sales were down 0.5% from a year ago. Year-to-date sales were about flat. Some individual models got clobbered. Inventories are piling up on dealer lots. Automakers lavished incentives on the market. Nothing worked. Yet, auto production in September had jumped 7.3% year-over-year, according to the industrial production report this morning. In my article earlier today on this phenomenon [Is this Why US Industrial Companies Don’t Invest?], I explained: “Something has to give: either a miraculous jump in sales or a cut in production.”
  • With Cash Levels Drying Up, Who is Left to Buy Stocks?
    While the “cash on the sidelines” myth has infuriated many, it remains a staple excuse for why there’s always a buying opportunity in stocks when the market dips. However, as Ned Davis Research warns “we can’t find much cash on the sidelines… and when we do it seems mostly offset by debt/liabilities,” crushing yet another pillar of strength for stocks. Ned Davis notes there is a lot of talk about all the cash on the sidelines from pessimistic investors that could power the market higher. There is some public caution and overall savings have risen somewhat, but I am having a hard time finding evidence that cash (potential demand) is anywhere near the market value of stocks (potential supply).
  • Hillary is running against locker room talk and the Russians
    Russia’s very able Foreign Ministry spokeswoman, Maria Zakharova, said that the US presidential campaign is “simply some sort of a global shame” unworthy of the American people. She certainly hit the nail on the head. Hitlery’s criminal record had to be suppressed by the Obama regime in order to move the oligarchs’ candidate in the direction of the White House. So here we are on the verge of nuclear war with Russia and China, and the important issue before the American people is Trump’s lewd comments with Billy Bush about sexually attractive women. I mean really. Men’s talk about women is like their fish and hunting stories. It has to be taken with a grain of salt. But this aside, why is lewd talk about women more important than military conflict with Russia, which could mean nuclear war and the end of life on earth? Trump has declared that he sees no point in conflict with Russia and that he sees no point in NATO a quarter century after the demise of the Soviet Union.
  • 10-Trillion-Dollar Bye-Bye – The Calm Before The Storm
    From a cyclical perspective, the stock market has effectively gone nowhere since mid-2014 (with zero total return on the broad NYSE Composite since then). The past two years can be characterized less as an ongoing bull market than as the extended top-formation of the third speculative episode since 2000, the third most extreme equity market bubble in history (next to 1929 and 2000), and the most extreme point of overvaluation in history across the broad cross-section of individual stocks and asset classes. We don’t expect the current situation to end well for investors who insist on taking larger investment exposures than they’re actually willing to hold, with discipline, through a period of severe market losses. From present valuation extremes, a 40-55% market loss would represent a fairly run-of-the-mill resolution to the current market cycle; a decline that would take valuations only to the high-end of the range they’ve visited or breached over the completion of every market cycle in history. By the completion of the current cycle, I expect over $10 trillion of what investors count as paper “wealth” in U.S. equities to disappear without a trace.
  • Hidden Fragility – What Happens When The Electricity Is Off For Three Days?
    What happens when an electricity dependent society and economy has an extended loss of electrical grid and communications? One of the hidden realities of modern life is its fragility. For example, few people are aware of the precariousness of the supply chain that refills gasoline/petrol stations around the world every few days. A new book, When Trucks Stop Running: Energy and the Future of Transportation explores the fragilities of our truck-dependent supply chains. Longtime correspondent Bart D. (Australia) recently experienced a multi-day regional loss of electricity. His first-person observations help us understand what breakdowns in energy are like on the ground.
  • This Is The Shocking Truth About How Bad The Economy Really Is In The United States
    With continued uncertainty in global markets, this is the shocking truth about how bad the economy really is in the United States. (King World News) Gerald Celente — Across America, from established restaurant chains to upstarts, bankruptcies are rising, locations are closings and profit margins are shrinking…
  • The Man Who Made A Perfect Call On The Silver Market Just Released This
    Tom Fitzpatrick:  “Crude WTI (West Texas Intermediate) is seeing a bullish break through the triangle top which may develop into a double bottom… For now this remains a short term dynamic; however, it is worth noting that major resistance levels come in around $52.08. A weekly close above that area would be bullish and suggest a broader medium term rally is taking shape that could see a move in WTI to $60+ and potentially higher. A weekly close (above $52.08), if seen, would confirm the pattern which would then target $77, in line with the lows from 2011 and 2012. The 200 week moving average is around $72.”
  • Fed Fearful About What It Has Done-Gregory Mannarino
    Trader/analyst Gregory Mannarino says don’t be fooled by the recent surge in the markets. Mannarino explains, “I think the Federal Reserve is legitimately becoming fearful of what they have done. There is no recovery here whatsoever. All you have to do is look at two metrics and two metrics only. The Labor Force Participation Rate remains near record lows. The money velocity, that’s the rate the money is moving through our economy, is remaining at record lows. Without these two metrics moving higher, you cannot have a recovery. What we have here is a debt bubble, and everything is being inflated right now on the back of that debt bubble. I think some people at the Federal Reserve are trying to warn people that the environment we are in is very dangerous. We’re hearing the biggest guns on Wall Street, all of them, and not one of them is not trying to say something is very wrong here. We keep hearing about a debt market super nova, that the bond market is in a bubble, which is inflating a stock market bubble. . . . There’s never been anything like this. This is uncharted territory. The Federal Reserve never had a plan to get out. . . . Now, their new scheme is they want the economy to ‘run hot.’ . . . Janet Yellen (Fed Head) said ‘the only way to prevent this economic horror show from becoming a permanent scar is to allow the economy to run hot. Meaning, to let inflation creep in while continuing to suppress interest rates. In other words, make all of us pay more for everything. They are so desperate.”
  • The Federal Reserve Is Hillary Clinton's Secret Weapon
    Say what you want about Donald J. Trump, but he is correct about one thing: the Federal Reserve has, with near certainty, been holding interest rates down for political purposes — namely, to aid Hillary Clinton in getting elected president of the United States. In September’s first presidential debate, Mr. Trump said: “We have a Fed that’s doing political things. … The Fed is [being awfully] political by keeping the interest rates at this level. And believe me: The day Obama goes off, and he leaves [office], and goes out to the golf course for the rest of his life to play golf, [is the day that] they raise interest rates. … The Fed is being more political than Secretary Clinton.” The Federal Open Market Committee's (FOMC) September meeting minutes, released on Wednesday, have proven Mr. Trump’s assertion to be true. As the 2016 election season draws to a close, the Fed has suddenly become more bullish on the prospect of raising interest rates — and this precipitous change-of-heart has come despite there being few notable signs of hope in the US’s economic data.
  • DANGER: The Last Time This Happened Was Right Before The Stock Market Collapsed!
    With the Dow trading near the 18,000 level, the last time this happened was right before the stock market collapsed. From Jason Goepfert at SentimenTrader:  “Speculative assets have reached a 16-year high. In the Rydex family of mutual funds, traders have allocated more than $2 in assets betting on a market rally for every $1 invested in the money market or inverse funds. That’s the widest ratio since 2000 and at a level that has been eclipsed only three distinct times since 1994, all of which led to a struggling stock market.
  • Pastor Lindsey Williams introduces Pastor David Bowen – October 20, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his fourth short weekly video for readers of Pastor Williams’ weekly newsletter.

THE FINAL BUBBLE! Pastor Williams says the information shared by this economist is outstanding and correct. What he says will happen. >>> CLICK HERE TO WATCH THE VIDEO (This video is being shared because the information within it is truly good and correct. Half way through the video it turns into a sales pitch to sell a book and related products. Pastor Williams has asked me to state that Pastor Williams and LindseyWilliams.net do not endorse this book).

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Latest News Articles – October 20, 2016

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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Lindsey Williams - Latest News Articles

Latest News From October 14, 2016 to October 20, 2016:

  • Venezuela’s Latest Cruelty Is Full Shelves of Unaffordable Goods
    Something strange has started to appear in Venezuelan grocery stores — food. After years of shortages of even the most basic items, shelves are once again heaving under the weight of imported goods such as Brazilian mayonnaise and margarine, or Colombian coffee and rice. This new-found abundance has come at a price though. Many shoppers can’t afford to buy the goods. “There is oil and bread, but it’s impossible to afford the prices,” said Veronica Parra, a teacher shopping in the eastern area of Caracas. “I earn more than the minimum wage, but I will still have to limit what I buy.” Without announcing any formal change in policy, Venezuela’s government has started to give up on imposing price controls at private stores, with shop owners reporting that they haven’t seen any inspectors since July. Instead, the government has ordered suppliers to sell half of their products to the state-distribution system known as CLAP that delivers subsidized food to the country’s poor. The rest can be sold at whatever price they want.
  • Investor Cash Levels Jump Toward Levels Not Seen Since 9/11
    Fears of a bond-market crash, a breakdown in globalization, a new crisis in the euro area? There were a bevy of reasons for fund managers to push their cash balances to 5.8 percent of their portfolios in October, up from 5.5 percent last month, matching levels not seen since the aftermath of the Brexit vote. The share of cash hasn't been higher than that since November 2001, shortly after the terrorist attacks in the U.S. The amount of dry powder in portfolios is above that seen during both Europe's sovereign-debt crisis and the U.S. debt-ceiling debacle, according to Bank of America Merrill Lynch's monthly survey of money managers.
  • Commerzbank to Cut Most Jobs in German Branches, Union Says
    Commerzbank AG, which announced the biggest overhaul since its 2008 bailout last month, plans to make most of the announced job cuts in its German branches, according to a letter by German labor union Verdi. About 3,000 jobs will be eliminated at the lender’s branch network in Germany, according to the letter seen by Bloomberg. Another 1,900 jobs will be cut outside of Germany and at Commerzbank’s subsidiaries. A Commerzbank spokesman confirmed that the management and the works council have held in talks on Monday over the job cuts, but declined to comment on them specifically. The news was reported earlier by Boersen Zeitung.
  • Two Major Central Bank Insiders Just Gave a Clear Signal What's to Come
    Are you ready for inflation? On Friday, both the Bank of England AND the US Federal Reserve made clear signals that they WANT inflation. “The Bank of England is prepared to tolerate higher inflation over the next few years and will keep interest rates low to support economic growth, according to Governor Mark Carney. In a further indication that the Federal Reserve will be inclined to let inflation run hot for a while, Chair Janet Yellen on Friday said it's useful to consider the benefits of a “high-pressure economy.””…
  • The Big Retail Sales Lie
    There’s a direct correlation between the scale and quantity of lies coming from Hillary Clinton and the Government. Why? It’s election season, of course. It’s easy enough to dismiss Hillary’s plea for debate viewers to go to her campaign website to see “fact” checking. We know how easy it is for her to hide the truth when she has assistance from the State Department, FBI and Obama. If you believe Hillary Clinton, you also believe in the Easter Bunny. But it’s also easy to fact check the Census Bureau’s retail sales reports. Now, it’s easy enough to believe that the Government would manipulate the statistics in order to help the incumbent party maintain control the White House. But it’s also easy to fact-check the Census Bureau’s tabulations for monthly retail sales, notwithstanding the fact that the Census Bureau is caught producing fraudulent statistics on a regular basis.
  • Why Oil Could Head Back To $90 Sooner Than Thought
    I don’t know much about fashion, but I have heard that blue is the new black. And I know that by the time I buy blue, everyone else will be wearing green. In the oil business, modish pundits are now pronouncing, “60 is the new 90,” championing the thesis that productivity gains, cost improvements and price wars have pulled the global clearing price of oil to $60/B, down from $90/B a couple of years ago. The oilfields of the world share some similarity to fashion ateliers.
  • Subprime Auto Securitizations Show Signs Of Cracking As Delinquencies Rise
    It will come as no surprise to our readers that sales of automobiles in the U.S. have bubbled over in recent years and stood at a SAAR of 17.7mm units at the end of September.  To put that number in context, a 15-year useful life would imply that's more than 1 car for every driving age person in the United States.  Obviously that's likely not sustainable which is probably why Ford executives admitted on a recent conference call that U.S. auto sales have likely reached a “plateau.”
  • Russia Is Deploying The Largest Naval Force Since The Cold War For Syria: NATO Diplomat
    Just moments ago we reported that in the latest escalation involving Syria, the Russian aircraft carrier Kuznetsov was now sailing past Norway on its way to Syria, where it is expected to arrive in just under 2 weeks.  As part of the carrier naval group, Russia also deployed an escort of seven other Russian ships, which we dubbed the “most powerful Russian naval task force to sail in northern Europe since 2014” according to Russia's Nezavisimaya Gazeta daily reports. It turns out it it was even bigger, because according to a NATO diplomat cited by Reuters, Russia is “deploying all of the Northern fleet and much of the Baltic fleet in the largest surface deployment since the end of the Cold War,” the diplomat said on condition of anonymity. “This is not a friendly port call. In two weeks, we will see a crescendo of air attacks on Aleppo as part of Russia's strategy to declare victory there,” the diplomat said.
  • Fed risks repeating Lehman blunder as US recession storm gathers
    The risk of a US recession next year is rising fast. The Federal Reserve has no margin for error. Liquidity is suddenly drying up. Early warning indicators from US ‘flow of funds' data point to an incipent squeeze, the long-feared capitulation after five successive quarters of declining corporate profits. Yet the Fed is methodically draining money through ‘reverse repos' regardless. It has set the course for a rise in interest rates in December and seems to be on automatic pilot. “We are seeing a serious deterioration on a monthly basis,” said Michael Howell from CrossBorder Capital, specialists in global liquidity. The signals lead the economic cycle by six to nine months.
  • A Spirit Of Violence Rises In America Following The Unveiling Of The ‘Harbinger Of Baal’ In New York
    Is it just a coincidence that we have seen violence erupt all over America since the unveiling of the arch that served as a gateway to the Temple of Baal in New York City on September 19th? First there were the terror attacks in New York, New Jersey and Minnesota, then there were the unprecedented riots in Charlotte, and over the weekend there was a horrific mass shooting near Seattle. All of these events took place within a week after the Arch of Triumph was put up in New York. Baal was an ancient deity that was often associated with violence and bloodshed, and those that erected this arch have no idea what they are messing with.
  • Has World War 3 Already Started?
    It took 3 million soldiers, 3,000 tanks, 7,000 artillery pieces, and 2,500 aircraft… “Operation Barbarossa” was the code name for Nazi Germany’s invasion of the Soviet Union in 1941. It was the largest military operation in human history. The Nazis had already conquered most of Europe. Hitler had grown overconfident from his recent military victories. Now he was hunting for big game… Stalin’s USSR.
  • An Inside Look At Two “Unrelated” Banker Suicides Reveals A Fascinating Rabbit Hole
    It has been nearly four years since one of the most infamous, and still largely unexplained, banker “suicides” took place, the first in a series of many: we are talking about the death of the director of communications at Monte dei Paschi di Siena, David Rossi, who allegedly jumped to his death on March 6, 2013. Since this event has largely faded away from the public consciousness here is a quick recap: David Rossi, who was the head of communications for Monte dei Paschi di Siena bank, which was founded in 1472 and which is currently seeking to finalize its third bailout since the financial crisis, died after falling – or being pushed – from a third floor window of the bank's headquarters in a 14th century palazzo in the Tuscan city of Siena.
  • Debate Post-Mortem: “Bad Hombres”, “Putin Puppets”, Chris Wallace Wins “Bigly”
    The debate started with ‘no handshakes' once again and while there was no ‘dancing' around the ring, a quiet, polite start rapidly turned ugly once the two candidates warmed up. Second Amendment supporting Trump slammed babyslaying Clinton; questions over who was the biggest “puppet”; Trump declined to support election result and threw a “such a nasty woman” comment across the stage.  While it was a close-call between Trump and Hillary, for once we suggest Chris Wallace wins tonight.
  • The First Cities To Be Nuked
    After all of the military command and control centers have been nuked, have you ever wondered which cities would be nuked first? You probably have not, because it is an unpleasant thought, and is something that most people believe would never happen. At one time between Russia and the United States alone, there were more than 20,000 nuclear warheads. Not that long ago during the years of the Cuban missile crisis, every American feared the worst while the U.S. and the USSR were seemingly ready to end the world as we know it… Since then, stockpiles have been reduced somewhat, but in the big picture it is mostly irrelevant. If anything, the world is more dangerous today as apparently radical nations add their own nuclear weapons to the world’s nuclear arsenal. Here is a mapped illustration of the top 30 most populated cities (and metro areas) in the United States which could potentially ‘go’ first in a nuclear war…
  • They think you’re crazy if you expect default. It’s crazy if you DON’T.
    On May 12, 1780, John Adams wrote to his wife Abigail, “I must study politics and war that my sons have the liberty to study mathematics and philosophy. . . in order to give their children a right to study painting, poetry, music, architecture, statuary, tapestry and porcelain.” (… to which I would add, “so that their children can hide from the world in their safe spaces.”) There may be no other quote that so succinctly surmises the rise and fall of empire.
  • Wikileaks: Journalists Dined at Top Clinton Staffers’ Homes Days Before Hillary’s Campaign Launch
    Several top journalists and TV news anchors RSVPed “yes” to attend a private, off-the-record gathering at the New York home of Joel Benenson, the chief campaign strategist for Hillary Clinton, two days before she announced her candidacy in 2015, according to emails Wikileaks has published from John Podesta’s purported accounts. The guest list for an earlier event at the home of John Podesta was limited to reporters who were expected to cover Clinton on the campaign trail.
  • Time to Buy Gold as Inflation Rises?
    Commodities analyst John Ross Crooks explores the ramifications of rising inflation on gold prices, and concludes that a buying opportunity is likely developing. Alert the media — three key measures of U.S. inflation have exceeded the Federal Reserve’s threshold of 2%.
  • Trump’s Invisible Shield
    It already seems like a lifetime ago that MachadoGate and Lewd-Comments-on-the-Bus-Gate appeared on the political scene and, according to all news sources, derailed the Trump candidacy.  Little did we know that a few days later, the Trump campaign would be dealt yet another setback — only this time by a cadre of women parading around the alphabet stations with sudden flashbacks of memory that conveniently materialized just a few weeks before the election.  According to the punditry and press, the Trump campaign has received a death blow from which it cannot recover.  Clinton is president!
  • More Good News For Gold Bugs: The Bottom Is Getting Closer
    In the latest gold and silver commitment of traders (COT) report (click here for an explanation of what this report involves), paper players made big strides in bringing the market back into balance — and setting the stage for an eventual rebound. Speculators – who tend to be emotional and therefore wrong at the extremes – scaled their long positions way back, while the commercials – who time-and-again sucker the speculators into those emotional extremes and then fleece them – are now considerably less short.
  • Doug Casey on the Self-Identified Elite
    Mark Twain said, “If you don’t read the papers you’re uninformed. If you do read them, you’re misinformed.” That’s why I want to draw your attention to a recent article called “The Isolationist Temptation,” in The Wall Street Journal, written by Richard Haass, the president of the Council on Foreign Relations. The piece wasn’t worth reading—except that it offers some real insight into what the “elite” are thinking. The CFR is one of about a dozen groups, like Bilderberg, Bohemian Grove, and Davos, where the self-identified elite gather.
  • Who Brought the World to the Brink of World War III?
    Who has the major responsibility for creating the confrontation between the U.S. and Russia in Syria? How have these two major nuclear powers moved closer and closer to the brink of World War III? At the moment, one clear way to resolve this clash is for Syria’s armed forces to win an unambiguous victory over the forces seeking to overturn the existing government. Bloody as it may be, the defeat of the rebel forces will defuse the military portion of the conflict between the U.S. and Russia, at least within Syria. Russia, invited by Assad to aid him militarily, has been following that path. Obama has haltingly and unevenly been following a different but also effective path, which is that the U.S. pull back from the brink, that it stop calling for Assad’s resignation, and that it not directly become involved in attacking Syrian forces.
  • ‘With Her’ – Lobbyists Raise $20 Million for Clinton vs. Zero For Trump
    With so much mud being slung from all directions in this circus of an election, it’s often hard to separate fact from fiction. However, on one particular topic there is little doubt. When it comes to the big money crowd, they are definitely “with her.” The Wall Street Journal reports: “Not a single registered lobbyist has raised a substantial amount of money for Republican nominee Donald Trump‘s campaign, according to campaign-finance disclosures filed over the weekend. Democrat Hillary Clinton, meanwhile, has drawn more than $20 million over the course of her race for her campaign and joint Democratic Party accounts through funds raised by registered lobbyists, according to her disclosures.”
  • Ganging Up on Gold
    In last week’s update on the gold sector, we mentioned that there was a lot of negative sentiment detectable on an anecdotal basis. From a positioning perspective only the commitments of traders still appeared a bit stretched though, while from a technical perspective we felt that a pullback to the 200-day moving average in both gold and gold stocks shouldn’t be regarded as anything but a normal – and in this case actually long overdue – event. Between May and August, gold stocks became quite “overbought”. They had clearly risen too far too fast and a correction shouldn’t have been a surprise. The pullback was quite sharp, adequately mirroring the relentlessness of the preceding rally. This is nothing unusual in this sector.
  • James Turk – The Coming Financial Storm Will Devastate The World
    As we kick off the third week of trading in October, today James Turk warned King World News that the coming financial storm will devastate the world. James Turk:   “There was some remarkable news about the future of the euro reported here in London over the weekend, Eric. The Daily Telegraph picked it up from an obscure central banking publication, and I am pleased that they did… Otherwise this shocker might have been buried without the attention it rightly deserves. And the Daily Telegraph did not hold back, as the following quote leading into their article makes clear. “The European Central Bank is becoming dangerously over-extended and the whole euro project is unworkable in its current form, the founding architect of the monetary union has warned. ‘One day, the house of cards will collapse,’ said Professor Otmar Issing, the ECB’s first chief economist and a towering figure in the construction of the single currency.”
  • Negative Shocks, Deeper Recessions And The Great Threat To Financial Stability
    As the world awaits the next round of monetary madness, here is a dire warning about negative shocks, deeper recession and the great threat to financial stability. Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness:  In a speech titled “Why are interest rates so low? Causes and implications”, Stanley Fischer is premising the speech on “why we should be concerned about such low interest rates.” He raises the possible explanations for why and risks that it entails. Firstly, “the economy’s long run growth prospects are dim.” Secondly, “low interest rates make the economy more vulnerable to adverse shocks that can put it in a recession” which “could therefore lead to longer and deeper recessions when the economy is hit by negative shocks.” Thirdly, “low interest rates may also threaten financial stability as some investors reach for yield and compressed net interest margins make it harder for some financial institutions to build up capital buffers.”…
  • Saudis, China Dump Treasuries; Foreign Central Banks Liquidate A Record $346 Billion In US Paper
    One month ago, when we last looked at the Fed's update of Treasuries held in custody, we noted something troubling: the number dropped sharply, declining by over $27.5 billion in one week, the biggest weekly drop since January 2015, pushing the total amount of custodial paper to $2.83 trillion, the lowest since 2012. One month later, we refresh this chart and find that in the latest weekly update, foreign central banks continued their relentless liquidation of US paper held in the Fed's custody account, which tumbled by another $22.3 billion in the past week, pushing the total amount of custodial paper to $2.805 trillion, another fresh post-2012 low.
  • The Danger Zone: Why Israel Greatly Fears Barack Obama’s Last Few Months In Office
    Between right now and January 20th, 2017 is a real “pressure point” for U.S. relations with Israel. Barack Obama has always desired to “leave a legacy” in the Middle East, and at this point the only option for accomplishing anything tangible is through the United Nations. The Israeli government is extremely concerned that Obama may attempt to take such action before he leaves office, and so they recently asked Secretary of State John Kerry if the U.S. would promise to veto any anti-Israel resolutions that come before the UN Security Council for the rest of Obama’s time in the White House. Unfortunately for Israel, the New York Post is reporting that Kerry flatly refused to make such a promise…
  • RT: NatWest to close Russian channel's UK bank accounts
    NatWest bank is to close the accounts of Russia's state-run broadcaster, RT. Editor-in-chief Margarita Simonyan tweeted: “They've closed our accounts in Britain. All our accounts. ‘The decision is not subject to review.' Praise be to freedom of speech!” The bank said the decision was “not taken lightly” and that the accounts were “still operative” at present. An MP from Russia's ruling party has said its parliament will demand an explanation from the UK. RT says the entire Royal Bank of Scotland (RBS) Group, of which NatWest is part, is refusing to provide its services.
  • Why Is Obama Threatening Russia With World War 3 Right Before The Election?
    It sure seems like an odd time to be provoking a war with Russia.  As I write this, we stand just a little bit more than three weeks away from one of the most pivotal elections in U.S. history, and Barack Obama has chosen this moment to strongly threaten the Russians.  As I wrote about on Friday, Reuters is reporting that Obama is contemplating “direct U.S. military action” against Syrian military targets, and the Russians have already indicated that any assault on Syrian forces would be considered an attack on themselves.  The rapidly deteriorating crisis in Syria has already caused tensions with Russia to rise to the highest level since the end of the Cold War, but now Obama is adding fuel to the fire by publicly considering “an unprecedented cyber covert action against Russia”.  Apparently Obama believes that Russian hackers are interfering in the election and so he wants payback.
  • Huge Red Flags Could Be Telling Us Global Currency Reset Is Upon Us!
    If you’ve listened to many of Dr. Willie's interviews, or you follow his work regularly, you probably already know that there aren’t too many people who have mixed feelings about the man. He’s either loved by people, or hated, and very little in-between. As a huge fan of his myself, I’ve often found it’s hard to get people who are unacquainted with Dr. Willie to listen to him, or give him a chance. Why? Without a doubt, Dr. Willie can be arrogant, overly sarcastic, insensitive, or even downright rude at times, and that can be a huge turnoff for some. He doesn’t have the same charm during interviews that someone like Peter Schiff does, and he often exhibits very little patience for those who can’t keep up with him on a subject matter level.
  • U.N. Says They Will Soon Occupy America: “Going Door-to-Door Taking Guns…”
    My fellow patriots, do you realize that from the time of this writing, there are only 25 days left until the day we cast our ballots (however meaningless they may be) for the next President of the United States? The case can very easily be made, that in 26 days, we’ll know whether the United States as we’ve known it will live on to fight, or begin the slow march (or maybe not so slow, who knows), toward the ash bins of history. That is how important this election is, and it’s a safe bet that everything you’re about to learn in this post, is unfolding in preparation for all out chaos…
  • All Paper Will Burn-Rob Kirby
    Macroeconomic analyst Rob Kirby has wealthy global connections. He says forget about the recent takedown in precious metals because his sources don’t think anything paper will survive the upcoming financial meltdown.  Kirby explains, “The commentary that I get from people with much higher pay grades than me is that, in the end, the only thing that will stand is physical metal gold and silver. They say all paper will burn.” Kirby goes on to confirm that “stocks, bonds and pensions” will be toast.
  • Hussman Predicts 55% Decline in Stocks in “Hard-Negative” Outlook
    From John Hussman: Several weeks ago, we shifted from a rather neutral near-term stock market view, to a hard-negative outlook, based on fresh deterioration in various trend-sensitive components within our broad measures of market action. From a cyclical perspective, the stock market has effectively gone nowhere since mid-2014 (with zero total return on the broad NYSE Composite since then). The past two years can be characterized less as an ongoing bull market than as the extended top-formation of the third speculative episode since 2000, the third most extreme equity market bubble in history (next to 1929 and 2000), and the most extreme point of overvaluation in history across the broad cross-section of individual stocks and asset classes.
  • They Will Not Allow Trump to Win Regardless of the Vote
    The preparation to declare the election a fraud is in high gear. The newspapers are full of the planted stories that Russia will hack the election to ensure Trump wins – not Hillary. The Democrats are now putting out the argument that Wikileaks’ source on all these emails is also Russia saying they use to be about the truth and are now a pawn of Trump and Putin. The Democrats are even trying to claim that the emails are fake. Moving the disinformation plot to cartoons demonstrates this is a full fledged campaign for the coronation of Hillary regardless of what the people vote. Russia will be blamed regardless of what Putin does. It is impossible to absolutely identify the hacker who is truly professional. You can trace it to an IP address, but that will be typically several layers deep rerouting it around the world. Someone in the USA can create a fake hack from Russia with the first IP being placed there. So there would be no possible way to prove it was the Russian government. This is all hype.
  • Local GOP office in North Carolina firebombed
    A GOP office in Hillsborough, North Carolina, was firebombed over the weekend, with a swastika and the words “Nazi Republicans leave town or else” spray painted on an adjacent building, according to local officials. No arrests have been made. Gov. Pat McCrory on Monday called the fire an “assault on our democracy.”
  • HP To Cut Up To 4,000 Jobs As PC Market Declines
    In a filing with the SEC, HP said the cuts are part of a restructuring designed to reduce costs. The news came the same week that Gartner reported an 8th consecutive quarter of declining PC shipments. HP Inc., the PC and printing company that resulted from the split of Hewlett-Packard last year, plans to cut between 3,000 to 4,000 jobs in the next three years, the company said in a filing with the US Securities and Exchange Commission last week. The layoffs will come in fiscal 2019 and are expected to generate a gross annual run rate savings of $200 million to $300 million beginning in fiscal 2020, according to the filing.
  • Analyst: S&P 500 Will Plunge 22% By The End Of 2016
    Analyst Theo Vallee is out today with a bold prediction for a massive decline in the S&P 500 through the end of this year — and he has plenty of charts to back up his case. We see the SPX losing 22% over the next 2-3 months. The call is primarily based on technical factors; however, given the market’s current valuation, the fundamentals also support this view. We contend that the texture of today’s price action is very similar to the early 2000’s.
  • Euro ‘house of cards' to collapse, warns ECB prophet
    The European Central Bank is becoming dangerously over-extended and the whole euro project is unworkable in its current form, the founding architect of the monetary union has warned. “One day, the house of cards will collapse,” said Professor Otmar Issing, the ECB's first chief economist and a towering figure in the construction of the single currency. Prof Issing said the euro has been betrayed by politics, lamenting that the experiment went wrong from the beginning and has since has degenerated into a fiscal free-for-all that once again masks the festering pathologies.
  • Germany HELL: Doom for Deutsche Bank as largest lender Qatar ‘pulls plug on future equity'
    SINKING Deutsche Bank has been dealt a hammer blow today after its biggest backer pulled the plug on future equity, it has been claimed. According to sources the bank is now facing a crisis of gargantuan proportions after the Qatari royal family, who were reported to be involved in bond deals just last week, expressed concern over their long-term strategy. Analysts say this could be the final nail in the coffin for the bank which this week was accused of using stealth methods to woo investors.
  • ALERT: Massive Commercial Short Covering Has Taken Place In The Gold And Silver Markets!
    There has been massive commercial short covering in the gold and silver markets on the recent takedown. The following charts are from Jason Goepfert at SentimenTrader. King World News note:  Below you can see the commercial hedgers position in the silver market market.  Note that commercial hedgers been dramatically reducing their short positions recently in the silver market.
  • China’s Stunning Move To Dominate The World And The Real Reason Why China Is Buying So Much Gold
    With many investors worried about the economic turmoil that has engulfed the globe, here is a look at China’s stunning move to dominate the world and the real reason why China is buying so much gold. China Quietly Increasing Its Global Dominance. Stephen Leeb:  “In a fairly lackluster week for the markets, the only news that seemed to arouse any response was China trade data. The headline numbers reported that, contrary to expectations, both Chinese exports and imports had declined in September compared to year-earlier levels, with exports dropping by more than 10 percent in dollar terms. Stock and commodity markets in the West fell in response, believing the numbers signified Chinese weakness that would hurt global growth…
  • MSM Committing Massive Fraud, Economic Red Alert, WWIII Update
    The Wiki Leaks slimy revelations about the DNC and the Clintons’ emails prove the mainstream media (MSM) is committing massive fraud on shareholders and the public. Organizations such as the New York Times, Washington Post, NBC, CNBC, Politico, The Boston Globe and many others hold themselves out as news organizations and fair arbiters of the truth, when they are really just one sided political hacks.  I predict the public will reject the MSM in droves, and share prices will plunge.  Look out for shareholder lawsuits in 2017.
  • The Republican Party Has Spent $0 On TV Ads For Trump After Spending $42 Million For Romney In 2012
    With so much stacked against him, can Donald Trump pull off a miracle and actually win this election? Right at this moment, things are looking quite grim for the Trump campaign. Following the release of the lewd audio tape, six women have come forward and have accused him of doing the exact sorts of things that he admitted to on that tape, and the mainstream media is going after him with all they’ve got. Of course the Clintons have done far worse things than Trump has, and that is the case that Trump must make to the American people in the last 25 days of this election. But it certainly isn’t helping that Trump is receiving very little help from his own party. In fact, earlier today Politico published an article entitled “RNC TV ad spending for Trump: $0” which documented the fact that the Republican National Committee has not spent a single penny on television advertising for Trump so far in 2016.
  • Drowning In Debt: 35 Percent Of All Americans Have Debt That Is At Least 180 Days Past Due
    More than a third of all Americans can’t pay their debts.  I don’t know about you, but to me that is a shocking figure.  As you will see below, 35 percent of the people living in this country have debt in collections.  When a debt is in  collections, it is at least 180 days past due.  And this is happening during the “economic recovery” that the mainstream media keeps touting, although the truth is that Barack Obama is going to be the only president in United States history to never have a single year when the economy grew by at least 3 percent.  But at least things are fairly stable for the moment, and if this many Americans are having trouble paying their bills right now, what are things going to look like when the economy becomes extremely unstable once again.
  • World War 3? Barack Obama Could Take A Major Step Toward War With Russia On Friday
    Because the mainstream media is devoting almost all of their time and energy to covering the Trump and Clinton campaigns, most Americans don’t realize that the Obama administration is bringing us perilously close to war with Russia.  On Friday, Barack Obama is going to sit down with his foreign policy team and discuss “military options” in Syria.  As you will see below, the options under consideration include direct strikes “on Syrian military bases”.  Russia has already pledged to respond militarily to any direct strikes on Syrian forces, and so the decisions that Barack Obama makes regarding Syria on Friday could literally be the spark that sets off World War 3. The daily drama surrounding Trump and Clinton is far less important than a potential war with Russia.  This should be front page news all over the country, but unfortunately most of the big news organizations are giving it very little coverage.
  • The US just bombed Yemen, and no one's talking about it
    What if the United States went to war and nobody here even noticed? The question is absurd, isn’t it? And yet, this almost perfectly describes what actually happened this past week. While many Americans, myself included, were all hypnotized by the bizarre spectacle of the Republican nominee for president, a US navy destroyer fired a barrage of cruise missiles at three radar sites controlled by the rebel Houthi movement in Yemen. This attack marked the first time the US has fought the rebels directly in Yemen’s devastating civil war.
  • World War III On The Brink: War Will Continue Until It Triggers Economic Collapse
    One of the main Shemitah Trends of late 2016 is the emerging war in the Middle East. It has every indication of turning into a conflict resembling World War III and day-by-day is becoming more dangerous and extreme. This could be the war that finally triggers the great economic collapse being planned. Certainly, the storm clouds of war are gathering, as we’ve been covering. In fact, on Friday, Barack O’bomber is scheduled to decide whether or not to initiate direct US military action against Syria – in part because of Russia’s bombing of Aleppo. Obama has been forced into making this decision because the Russians along with the Syrians are now winning the war. The wars in Libya, Iraq and now Syria are bankers wars intended to redraw the map in the Middle East while adding to the military burdens of the West – specifically the US.
  • European Commission denies fraud problem after EU auditors FAIL to sign off accounts AGAIN
    THE European Commission has denied that Brussels has a problem with fraud after the EU’s auditors refused to sign off its accounts for the 21st year running. The 141.5 billion euro budget for 2015 – including £20 billion from Britain – has been blasted by the Court of Auditors for being “materially affected by error”. The court has issued an “adverse opinion” – reserved for serious accountancy failures – on the legality and regularity of the payments underlying the accounts. The report highlights dubious areas of spending, including a bid for a monorail for olive farmers in Italy.
  • The Day Has Arrived: As Of Today Prime Money Markets Can Suspend Withdrawals – Here Are The Implications
    The big day has finally arrived: starting today, as previewed repeatedly over the summer, the SEC's 2a-7 money fund reform adopted in 2014 officially requires many prime money market mutual funds (those that invest in non-government issued assets such as short-term corporate and municipal debt) to float their net asset value. More importantly, these prime MMFs are allowed to delay client withdrawals under adverse market conditions. The rule aim to prevent the sort of chaos that hit the money market after Lehman Brothers Holdings Inc.’s 2008 bankruptcy, which helped spark the financial crisis. The goal is to give investors a way to monitor a fund’s health by tracking its fluctuating net asset value, and to contain the fallout that could be caused by many investors cashing out at once, the SEC wrote in the final rules.
  • Deutsche Bank To Fire Another 10,000 Bankers, Bringing Total Layoffs To 20% Of Workforce
    The hits for Deutsche Bank just keep on coming. One day after a report that the German lender has imposed a hiring freeze in the latest bid to reassure investors that it has expenses under control and is stemming the outflow of cash, moments ago Reuters reported that Deutsche Bank's finance chief told his staff that job cuts at the bank could be double that planned, a step that could remove 10,000 further employees. Such cuts would likely take many years but setting such a goal could reassure investors that the bank is determined to tackle costs that sources said the European Central Bank sees as bloated. Unless, of course, they are forced to cut much faster. If 10,000 job losses were ultimately to follow the 9,000 announced by management in October 2015, roughly one in five of the bank's workforce around the globe would be affected.
  • A “Cat 5” Financial System Hurricane Swirls Offshore
    Things are worse than are even being reported by alternative media. Heard from a friend east of the Atlantic ‎whose employer is a financial institution in Europe – you can probably guess which country. Words used were “chaos” and “possible shutdown.” Advised to buy silver as much as possible…
  • Billionaire Gives NY Fed A Fire-Hose of Reality, Warns Of “Big Squeeze”
    Ray Dalio, founder of the $160 billion investment firm Bridgewater Associates, was invited to speak at the Federal Reserve Bank of New York’s 40th Annual Central Banking Seminar yesterday. Rather than gush about how wonderful the Fed’s zero interest rate policies have been since the financial crisis, Dalio gave them a fire hose of reality.
  • Thai Stocks, Currency Plunge On Concerns Over King's Health, Fed Hike
    Ever since the 1997 Asian Financial Crisis, investors have kept a close eye on financial developments in Thailand as canary in the Asian financial conditions coalmine, and overnight there was little to look forward to after Thai stocks crashed the most in over a year, plunging as much as 6.9% before settling 4.1%, lower while the baht currency tumbled 1.1%, its steepest plunge in three years. The Thai stock market was the worst performing in Asia, with the sharp selloff attributed to concerns about the health of the king and “sudden” fears about the prospect of a December rate hike. Thai stocks approached a correction, after sliding 8.8% in the week, the most among about 100 benchmark share indexes tracked by Bloomberg. Default risk also spiked with Thai CDS rising 8%, and more than 12 per cent since the start of the week. The Thai currency traded at 35.768 per dollar, headed for an eighth day of losses in the longest stretch since July 2015. It sank as much as 1.5 percent to 35.902, the lowest since Jan. 26, and is headed for its steepest weekly drop since 2013. The 10-year sovereign bond yield rose five basis points to 2.35 percent, the highest since January.
  • “We Didn’t Know Things Were This Bad” – Ericsson Shares Plunge 17% After Shocking Profit Warning
    Our condolences to anyone long Swedish telecom giant Ericsson, who will observe the following chart first thing upon waking up today. The reason for Ericsson's 17% crash, is that the Swedish network maker reported a surprising slump in third-quarter sales and profitability, warning investors that its business was deteriorating faster than expected, with no turnaround in sight. Unexpectedly, the company said sales in the third quarter had dropped by 14% while its operating profit was all but wiped out, falling from SKr5.1bn a year ago to SKr300m. The sales drop was the biggest in 13 years, going back all the way to 2013.
  • Please Assume Crash Positions
    Very few punters expect a real downturn here in stocks. The reasons for confidence are many: the Fed has our back, buy the dip has worked great and will continue to work great, the Fed won't raise rates until December (if ever), the Powers That Be will keep the market aloft lest a plunging market upset the election of the status quo candidate, and so on.
  • Extinction Level Event
    Since they can’t sell people on electric cars, the next best thing is to outlaw internal combustion-engined cars. In order to force people into electric cars. Since they can’t sell people on electric cars, the next best thing is to outlaw internal combustion-engined cars. In order to force people into electric cars. The German Bundesrat (their version of our Congress) just passed a bipartisan agreement toward that end. The legislative details have yet to be worked out, but the idea is to impose a comprehensive ban on the use of cars powered by internal combustion on not just German roads but all European Union roads as well.
  • Wal-Mart Expects Profit Pressures, Fewer New Stores
    Wal-Mart Stores Inc. wants to make a big pivot: Instead of building supercenters to drive growth, the retailer hopes to become an e-commerce powerhouse that draws more shoppers to its existing stores. At an investor meeting Thursday, executives said Wal-Mart would open only about half as many supercenters next year as it did last fiscal year. Instead, Wal-Mart will direct more of its $11 billion in annual capital spending toward boosting e-commerce sales, technology used in stores and customer service. The decision is a fundamental shift for the world’s largest retailer that will require significant investment and also weigh on profit.
  • Google starts deploying its self-driving Chrysler Pacifica minivans: first prototypes spotted
    While Tesla’s fleet recently reached 222 million miles driven on Autopilot in about a year, Google’s fleet of self-driving cars just passed the 2-million miles mark last month after 7 years on the road. As we previously discussed, Tesla’s Autopilot miles are not really equivalent to Google’s self-driving miles, but it still gives us a good indication of the speed at which each company is deploying their semi-autonomous and autonomous programs. Now Google is about to speed up its effort by deploying a lot more vehicles through its partnership with Fiat-Chrysler to build a fleet of self-driving Pacifica, Chrysler’s new plug-in hybrid minivan. The first few prototypes were spotted in Mountain View over the weekend.
  • Deutsche Bank Implements Hiring Freeze, Stock Slides
    While much attention in recent weeks has fallen on Deutsche Bank's balance sheet, with concerns over both the bank's capitalization as well as its liquidity forcing its stock price to all time lows as recently as two weeks ago, today we got a timely reminder that the bank also has substantial income statement problems when Bloomberg reported that the biggest German lender is implementing a companywide hiring freeze as CEO John Cryan “seeks to lower costs and shore up investor confidence.” However, the confirmation that the bank continues to hemorrhage cash and is in expense-slashing mode, and which hits just a day after Deutsche Bank completed a tack-on bond offering in which it sold a total of $4.5 billion in 5 year bonds in two tranches, paying junk bond spreads for the privilege of obtaining funds, will hardly “shore up investor confidence.” If anything it will short it, or perhaps short DBK stock, which was down 2.5% to €12.04 in German trading as of this writing.
  • Germany To Cut Off Welfare Benefits For EU Citizens
    In what may be the latest indication that Merkel's immigration policy blowback is being heard by the government, Germany's Handelsblatt reports that Merkel's government plans to prohibit foreign E.U. citizens from receiving welfare benefits for five years if they haven’t worked in Germany before. Labor Minister Andrea Nahles, a center-left Social Democrat, introduced a corresponding draft measure during a cabinet meeting of Chancellor Angela Merkel’s coalition government on Wednesday, according to the news agency Reuters. Under the draft law, E.U. citizens can claim one-time assistance for the period of a month to pay for food and shelter. They can also receive a loan to cover the cost of the trip back to their home country if they fail to find work.
  • US Retailers Blame “Election Preoccupation” For Slumping Sales
    While record food-stamps, sinking real wages, and soaring healthcare and shelter costs are all in the realm of peddled fiction; US Retailers are never shy of alternative excuses for their underperformance. It's too-hot, it's too-cold; it's too-low gas prices; it's too-high gas prices; but now, as Bloomberg reports, US retailers and restaurants are floating another excuse to explain their lackluster performance – it's the election, stupid!
  • List of Hillary Tax Hikes
    Trillion dollar tax hike – Hillary’s tax hike proposals will raise taxes on the American people by over $1,000,000,000,000 over the next ten years, based on her campaign’s own numbers. Payroll Tax Hike; Soda Tax Hike; 25% National Gun Tax; Doubling of federal excise tax on guns; 65% Death Tax; Capital Gains Tax Hike; No Corporate Income Tax Rate Relief for Anyone; No Personal Income Tax Rate Relief for Anyone; AND CARBON TAX.
  • Did Stumpf Lie To Congress? Wells Manager Admits Fake Account Creation As Far Back As 2006
    Just when you thought the public floggings were over and another US bank proved that crime pays, it appears Wells Fargo – and its CEO – may not be as ‘Teflon' as they hoped. Having told Congress under oath that his bank committed criminal activities since 2011, VICE News reports that in fact John Stumpf's banking head Carrie Tolsetedt was actually aware of the creation of fake accounts since 2006.
  • 2 Simple Charts Show Which State Pensions Are Most Likely To Enforce Benefit Cuts
    A new research note from Moody's found that State pension funds were underfunded by $1.3 trillion at the end of FY15 but was expected to grow to $1.8 trillion at the end of FY17 as pensions continue to struggle with low returns.  We've discussed the unintended consequences of the Central Bank's low-rate polices on pension funds multiples times (see “Pension Duration Dilemma – Why Pension Funds Are Driving The Biggest Bond Bubble In History”)…with the two most likely outcomes being benefits cuts for pensioners and/or crippling tax hikes for citizens.
  • Pastor Lindsey Williams introduces Pastor David Bowen – October 13, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his third 10 minute weekly video for readers of Pastor Williams’ weekly newsletter.

THE FINAL BUBBLE! Pastor Williams says the information shared by this economist is outstanding and correct. What he says will happen. >>> CLICK HERE TO WATCH THE VIDEO (This video is being shared because the information within it is truly good and correct. Half way through the video it turns into a sales pitch to sell a book and related products. Pastor Williams has asked me to state that Pastor Williams and LindseyWilliams.net do not endorse this book).

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Latest News Articles – October 13, 2016

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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Lindsey Williams - Latest News Articles

Latest News From October 7, 2016 to October 13, 2016:

  • One World Currency, The Rise Of The SDR: Jeff Berwick on A Minute To Midnight
    Jeff is interviewed by Tony Koretz for A Minute To Midnight, topics include: the evils of central banking, the US petrodollar, US wars of imperial aggression, possible war with Russia, the destruction of the global economy, one world government, the SDR currency, China and the shift to the east, the collapse of the western standard of living, Adam Weishaupt and the destruction of the family, propaganda and indoctrination in the US, politics and gold, collapse is a mathematical certainty, hyperinflation, massive government debt, Deutsche Bank the first domino? the intrinsic value of precious metals, some investment advice!
  • Dr Papadopoulos Sets BBC Straight on Syria and Russiaphobia in Britain
    Now here’s a rare sight: the BBC allowed a genuine dissenting voice on to its airwaves. Dr Marcus Papadopoulos, editor of Politics First, recently talked to the BBC News about the west’s massive disinformation campaign targeting Syria, and misinformation and Britain’s irrational fear-mongering over Russia. This week, British Foreign Secretary Boris Johnson called for “demonstrations outside the Russian embassy”, because of of what Johnson alleges as “war crimes” Syria. It seems that Johnson’s dangerous rhetoric merely typifies a general level of ignorance and political malaise taking hold over the British Parliamentarians recently.
  • 10 Signs That An All-Out Attempt Is Being Made To Sabotage The Trump Campaign
    Can the craziest election in modern American history get even crazier? At this point we are just 28 days away from the election, and it appears that an all-out attempt is being made to sabotage Donald Trump’s campaign. But the big surprise is where the worst of this sabotage is coming from. We always knew that politics in America is a dirty game, and that the Clintons are the dirtiest players in the game. And we always knew that the mainstream media was going to be in Clinton’s corner, although it has been a shock to what degree they have completely abandoned any pretense of objectivity during this election cycle. So it was always going to be an uphill battle for Donald Trump, but what he didn’t anticipate was blatant and widespread sabotage of his campaign from within his own party. In recent days it has become clear that the worst sabotage to the Trump campaign is being done by people that are supposed to be on his side.
  • 29 celebrities who love and endorse Donald Trump
    Since announcing his bid for the presidency in June 2015, Donald Trump has steadily accrued (and lost) a number of endorsements from celebrities — some of whom are more notable than others. At this year's boisterous Republican National Convention in July, Trump trotted out three of his lesser-known supporters — actor Scott Baio and reality TV stars Antonio Sabato Jr. and Willie Robertson — as speakers for the event.
  • Part-Time Jobs Soar By 430,000 As Multiple Jobholders Surge To August 2008 Levels
    While today's headline jobs print was somewhat disappointing, with the Establishment Survey missing the expected print of 175K, and growing by 156K, it was offset by a far higher 354K jump in the household survey which offset last month's weakness. But while the quantitative headline aspect is open to interpretation, the qualitative component of the September jobs print was clear beyond a doubt: it was ugly. First, looking at the reported composition of jobs, while full-time jobs actually declined by 5,000 to 142,296K part-time jobs soared by 430,000…
  • Interest Rates: The Real Cost of Borrowing
    The basic definition of an interest rate is simply the cost of borrowing money. It’s the cost associated with acquiring credit, whether buying a car, getting a mortgage, or taking a vacation. We encounter interest rates every time we make a monthly credit card or student loan payment. Interest and interest rates are a major part of daily life, yet many people don’t have a good understanding of the most critical types of interest or how their rates are set. Broadening our understanding even a little can help empower us to make more informed decisions, whether at the bank or at the ballot box.
  • Titans of Finance Gather and Sulk Over Low Rates, Deutsche Bank
    Mary Callahan Erdoes, one of JPMorgan Chase & Co.’s most senior executives, summed up her industry’s mood like this: “There is no excitement,” she told throngs of bankers gathered in Washington. “There is a lot of handwringing.” Again and again, speakers at the Institute of International Finance’s three-day meeting in Washington, which wrapped up Saturday, bemoaned the inability of central banks to rev up economic growth, as well as the drag of tougher regulations and the looming impact of Brexit. Concerns over Deutsche Bank AG’s mounting legal costs deepened the gloom.
  • Singapore orders bank closure and fines over 1MDB links
    The Monetary Authority of Singapore has ordered a Swiss merchant bank to close and fined two other banks for breaching anti-money laundering controls. The action follows an investigation into money flows linked to the Malaysian state investment fund 1MDB. Falcon Bank will lose its merchant bank status in Singapore. Its branch manager was arrested last week. South East Asia's biggest bank DBS has been fined S$1m (US$726,000; £589,000) while UBS will have to pay S$1.3m.
  • Australian property bubble on a scale like no other
    Yesterday Citi produced a new index which pinned the Australian property bubble at 16 year highs: Bubble trouble. Whether we label them bubbles, the Australian economy has experienced a series of developments that potentially could have the economy lurching from boom to bust and back. In recent years these have included: the record run up in commodity prices and subsequent correction; the associated boom in mining investment and current reversal; record low bond yields; the boom in housing construction, specifically apartments, that was spurred by the low interest rates. Housing indicators in the bubble meter are at record highs but interest rates remain at record lows. Typically monetary policy is well into tightening mode at this stage in the housing cycle. A destabilizing housing burst (both in activity and prices) is a clear risk, particularly the longer the upswing runs.
  • Deutsche Bank cuts another 1,000 jobs
    Deutsche Bank has announced that 1,000 jobs will be cut in Germany. The move adds to the 3,000 job losses announced in June. Almost half of the latest job cuts will hit the company's chief operating office, with the rest spread over several departments. Deutsche Bank has been under intense pressure since mid-September, when US authorities said they wanted the firm to pay $14bn to settle an investigation into mortgage-backed securities. Since then, the company has been trying to reassure investors and staff that its finances are strong enough to handle such a large fine. To boost its finances, it has been selling assets and has promised cost cuts.
  • Lloyds is slashing 1,340 jobs
    State-owned lender Lloyds Bank cut 1,340 jobs as part of a restructuring plan that will see as many as 12,000 staff leave the bank in total. The jobs will go from the operations, retail, customer products and marketing, finance and risk divisions, according to a report by BBC News. The bank, which is 9% state-owned, announced a plan in October 2014 to cut 9,000 jobs to reduce costs and boost profit while economic growth and interest rates stagnate. Another 3,000 cuts were announced in July, along with the closure of 220 branches, in the wake of Britain's vote to leave the European Union. Antonio Horta-Osorio, Lloyds CEO, warned that a “deceleration” of UK economic growth “seems likely” in the bank's second quarter results statement.
  • The Diamond Engagement Ring: Greatest Marketing Scam In History
    De Beers was founded in 1888 by Cecil Rhodes, and financed with help from the London-based NM Rothschild & Sons Bank. This involved mining operations in Canada, South Africa, Namibia, and Botswana. In 1927, after his company Anglo American plc (founded with J.P. Morgan in 1917) became a majority stakeholder, Ernest Oppenheimer took over De Beers and it went on to flourish as one of the most successful international diamond cartels in the world. They have been able to restrict the supply of diamonds on the market to raise the price of diamonds far above what would have been market levels. They were able to do this because De Beers was successful in persuading the worlds diamond miners to market almost all diamonds through the De Beers Central Selling Organization (CSO). Today the Anglo American Group owns 85% of De Beers, while the Government of the Republic of Botswana owns the other 15%, they are the only two shareholders.
  • Why the World’s Biggest Market Is Acting Erratic
    The world’s biggest financial market is acting erratic. We’re not talking about the global stock market, or even the bond market. We’re talking about the global currency market. The currency market is where paper money trades hands. It’s much bigger and more important than the global stock market. Yet the average investor almost never hears about it. That’s because major currencies rarely move more than a fraction of a percent in a day. When they do make big moves, they ripple across stock, bond, and even real estate markets. Paper currencies are the backbone of the global financial system, after all. Today, we’re going to look at some recent big moves by major currencies. As you’ll see, we could see a lot more moves like this in the months ahead.
  • UK will pay BILLIONS into EU coffers for single market access if May makes soft Brexit
    BRITISH taxpayers will STILL be forced to pay BILLIONS of pounds into Brussels coffers even though the public voted to unshackle itself from the bureaucratic European Union (EU), it has sensationally been claimed. The Brussels club will still receive an eyewatering £5billion from Britain so the nation can secure access to the single market even when Article 50 is triggered, a cabinet minister has revealed. The shock revelation comes after official statistics revealed the EU billed the UK for £19.6billion in 2015 or almost £376million each week.
  • ALERT: This Astounding Signal Says Gold Will Soar Over The Next 12 – 36 Months!
    With continued pressure in both the gold and silver markets, this astounding signal says gold will soar over the next 12 – 36 months! From Jason Goepfert at SentimenTrader:  “Everything has rallied this year. As noted in a Monday article in the Wall Street Journal, the major markets (stocks, bonds, oil, and gold) have all rallied so far in 2016. If we go back to 1983 and look for other years when all four markets showed a positive return through September, then the fourth quarter showed consistent gains in stocks and (especially) gold, with weakness in bonds and oil.
  • The Donald Lives!
    Donald Trump turned in perhaps the most effective performance in the history of presidential debates on Sunday night. As the day began, he had been denounced by his wife, Mike Pence, and his own staff for a tape of crude and lewd remarks in a decade-old “locker room” conversation on a bus with Billy Bush of “Access Hollywood.” Tasting blood, the media were in a feeding frenzy. Trump is dropping out! Pence is bolting the ticket! Republican elites are about to disown and abandon the Republican nominee!
  • Imagine, A World Without Taxes (Here’s What It Would Look Like)
    Imagine living in a world without taxes. Granted, that’s a bit unlikely to happen, considering mankind’s long history with taxes. It seems that taxes and government go hand-in-hand. It doesn’t matter if you’re talking about the old European feudal system — where Barons and Earls taxed the serfs and merchant caravans crossing their lands — or you’re talking about modern socialistic and democratic governments. All governments tax. Not only does it give them a source of revenue, but it gives them a way of controlling the people. Nevertheless, let’s indulge our imaginations for a moment and think about the difference that would make to live in a tax-free society. While I don’t expect ever to find such a utopia, seeing what it would be like will show us what taxes are doing to our society.
  • Federal Judge Overturns Ban on Openly Carrying Guns in Public
    In a quintuple victory for Second Amendment rights, a federal judge last week overturned a ban on carrying handguns in public, a ban on so-called assault weapons, caliber restrictions for long guns, a $1,000 tax on handguns, and a requirement that all guns be registered with the government. “The individual right to armed self-defense in case of confrontation…cannot be regulated into oblivion,” declared Ramona Manglona, chief judge of the U.S. District Court for the Northern Mariana Islands.
  • “Trump Will Be ALLOWED To Win,” Only to Be Blamed For The Coming Financial Crash
    Unfortunately, the financial crash is coming. Things have been stretched too thin, and the real economy is toast. The elite know this; they know that QE3 has gone as far as it possibly can in holding back the carnage. With things poised for collapse, who will they blame? Conventional wisdom continues to say that Trump will lose, as people cast a vote for the only “grown up” and “responsible” candidate in the race (i.e. establishment). Perhaps conventional wisdom would be correct in a conventional election. But as things stand, the powers that be need to allow the considerable anger of the people to vent – and more importantly, they need someone to blame things on. Just as Obama inherited Bush’s 2008 economic crisis, Trump is likely about to inherent the crumbling system that Obama is handing over. If that scenario proves true, once the nationalist, populist, anti-establishment Trump takes office, they will simply step aside and let the crisis take hold on his watch. That’s the argument that Brandon Smith makes, and one which no one should allow to take them by surprise.
  • Tomgram: Dilip Hiro, Unipolar No More
    Last week in Afghanistan, the Taliban, once almost lacking a presence in the northern part of the country, attacked Kunduz, a northern provincial capital and held parts of it for days (as they had in 2015). At the moment, that movement also has two southern capitals under siege, Tarin Kot in Helmand Province and Lashkar Gah in Uruzgan Province, and now seems to control more territory and population than at any time since the U.S. invasion of 2001-2002.  Mind you, from an American perspective, we’re talking about the war that time forgot. Amid the hurricane of words in Election 2016, neither presidential candidate nor their vice presidential surrogates has thought it worth the bother to pay any real attention to the Afghan War, though it is the longest in our history. It’s as if, 15 years later, it isn’t even happening, as if American troops hadn’t once again been ordered into combat situations and the U.S. Air Force wasn’t once again flying increased missions there.
  • The pound has already fallen off one cliff, but it is about to fall off another
    Deutsche Bank is backing the pound to slump even more in the coming weeks, pushing the UK's currency even further into record lows. In the bank's weekly equity strategy note, titled this week “Don't exit the Brexit trades” — Deutsche's strategists Wolf von Rotberg, Sebastian Raedler, Tom Pearce, and Andreas Bruckner argue that despite crashing almost every day for the last two weeks, sterling actually still remains substantially overvalued, pointing to even more drops in the pound's value.
  • Reek of Desperation Surrounds EU Banks, Regulators Prepare for “Derivatives Clearing Crisis”
    The past week’s events in Europe were dominated by the pound sterling’s spectacular flash crash to its lowest point in 31 years. As is often the case with flash crashes, we will probably never know what exactly triggered the currency to free-fall by 6% during Asian trading hours, though the most cited cause, apart from a “fat finger,” is the gathering realization that a so-called “hard” Brexit is a very real possibility. But it’s an eventuality that can be expected to play out in roughly two and a half years’ time, at the earliest, and in light of the powerful forces arrayed against it, it may never occur at all. In the meantime, something far more dangerous is happening on the other side of the English Channel: the slow-motion meltdown of the Eurozone’s banking system.
  • As ObamaCare Death Spiral Continues, Flailing Institutions Attempt to Cope
    As ObamaCare’s death spiral intensifies, with more and more edge cases demanding special treatment, the whole process reminds me of one of those black-and-white silent film comedies on airplane #FAILs, with bits of machinery flying through the air after the crash or explosion. The only thing missing is the piano soundtrack, but of course we have the 2016 election. So there’s that. For anybody who came in late, I’ll review the concept of a death spiral. Then I’ll briefly look at (and dismiss) the headline story, which is price rises. Then I’ll look the edge cases where a county has zero insurance carriers, or one, as well as the differing approaches to avoid getting sucked into the black hole of the death spiral taken by Minnesota, and the Federal government. Spoiler alert: I’m going to be using the word “insane” a lot. I think for good reason, and not Bill Clinton’s reasons, either. Oh, and “open enrollment” begins on November 1, just a week before Election Day! (It ends on January 31, 2017).
  • “Credit Squeeze” Planned in China to Deflate Housing Bubble?
    All kinds of officials are fretting about the dangers of the housing bubble in China that has been fueled by easy credit that officials have made available last year to stop the implosion of the prior housing bubble. City by city, they’re grappling with this problem, trying to put a lid on it. Caixin Online reports: ‘About 20 Chinese cities tightened home purchasing requirements in late September to cool an overheated market, with some prohibiting property developers from selling homes to residents who don’t have a local hukou, or residency registration, and to those who already own more than one home. Other cities have raised the minimum down payment required.' But easy credit still rules: Total new loans in August reached 948 billion yuan ($142 billion). Over 71% of this debt was taken out by households, mostly mortgages.
  • The Billion Barrel Oil Swindle: 80% Of U.S. Oil Reserves Are Unaccounted-For
    U.S. crude oil storage is filling up with unaccounted-for oil. There is a lot more oil in storage than the amount that can be accounted for by domestic production and imports. That’s a big problem since oil prices move up or down based on the U.S. crude oil storage report. Oil stocks in inventory represent surplus supply. Increasing or decreasing inventory levels generally push prices lower or higher because they indicate trends toward longer term over-supply or under-supply.
  • George H.W. Bush's granddaughter is voting for Hillary Clinton
    George H.W. Bush’s granddaughter is with her. Lauren Bush Lauren, who’s also George W. Bush’s niece, posted a black and white photo of Hillary Clinton on Instagram Sunday, captioning the fashionable photograph “#ImWithHer.” The 32-year-old former model is the founder of FEED Projects, a fashion company that donates a large portion of its revenue to charity organizations that strive to end world hunger. She has also served as an honorary spokesperson at the World Food Program. Her sobering Clinton endorsement drew both ire and praise on social media.
  • These Debt & Rent Slaves Get Blamed for the Lousy Economy
    Over the past few days, the Diamond Producers Association launched its first new ad campaign in five years after watching retail sales of diamond jewelry slow down, as Millennials built on the habit pioneered by prior generations of delaying or not even thinking about marriage, and thus not being sufficiently enthusiastic about buying diamond engagement rings. The campaign, according to Adweek, is designed to motivate Millennials “to commemorate their ‘real,’ honest relationships with diamonds, even if marriage isn’t part of the equation.” Mother New York, the agency behind the campaign, spent months interviewing millennials, according to Quartz, and learned that they associated diamonds with a “fairytale love story that wasn’t relevant to them.” So the premium jewelry industry, seeing future profits at risk, needs to do something about that.
  • Goldman Tells Clients To Go To Cash As “Growth Shocks” Are Coming
    After last week's warning by Ray Dalio that a 100 bps rise in yields could lead to trillions in cross-asset losses, it was Goldman's turn to pick up the bearish torch with a note in which it warned that stock markets are set for volatility in the remainder of the year as a result of potential “growth shocks” which continue to loom until year-end as political risks remain elevated, given the upcoming US presidential elections and Italian referendum, and the UK government’s plan to trigger Article 50 by March 2017.
  • HSBC Says Stocks are on “Red Alert” for a Major Crash
    The head of technical analysis at HSBC, Murray Gunn, sent out very bearish note to clients today, warning of an imminent major sell-off in stocks following yesterday’s big decline. Gunn has been monitoring the price action over the past few weeks, using what’s known as the Elliott Wave Principle. That technique measures alternating patterns in stock prices to help predict investor behavior. Just a few weeks ago, Gunn issued an “orange alert” on stocks, noting that the price action had begun to eerily resemble patterns seen just prior to the historic 1987 stock market crash. Citigroup analyst Tom Fitzpatrick pointed the same patterns out earlier this week as well.
  • RED ALERT — Get ready for a ‘severe fall' in the stock market, HSBC says
    HSBC's technical-analysis team has thrown up the ultimate warning signal. In a note to clients released Wednesday, Murray Gunn, the head of technical analysis for HSBC, said he had become on “RED ALERT” for an imminent sell-off in stocks given the price action over the past few weeks. Gunn uses a type of technical analysis called the Elliott Wave Principle, which tracks alternating patterns in the stock market to discern investors' behavior and possible next moves.
  • What the Heck’s Going on with the New Global Reserve Currency, the Chinese Yuan?
    The Chinese yuan fell to 6.722 to the US dollar currently, the weakest since September 2010. It’s down 3.3% so far this year. OK, a squiggle compared to the wholesale drubbing the UK pound has been taking since the Brexit vote, but there’s a difference: the yuan gets managed with an iron fist. Some folks interpret this to mean that the People’s Bank of China has been weakening the yuan to gain some trade advantages and revive the export boom and kick economic growth back into gear. But evidence is piling up that the PBOC instead has been trying to slow down the yuan’s descent. And this happened just days after the yuan joined the IMF’s special drawing rights (SDR) basket of reserve currencies, a huge milestone for the Chinese government that has been laboring on the internationalization of the yuan for years, mostly in tiny baby steps.
  • Deutsche Bank Sells Another $1.5 Billion In Debt At Junk Bond Terms
    We were surprised when, just after the close on Friday, Deutsche Bank announced it would issue $3 billion in five year paper carrying a nosebleeding coupon of 4.25%, and a spread of 300 bps over Treasuries. By issuing debt at such a high yield – indicatively 300 basis points is close to the average for highly-rated junk debt in dollars and more than twice the 143 basis points Deutsche Bank paid for similar notes in August 2015 – DB management confirmed it had liquidity concerns (the issue did nothing to help the bank's ailing capitalization). As we said on Friday, “some have wondered why the need to sell new paper at such a wide concession: after all as we reported before, DB has no current liquidity constraints courtesy of substantial ECB generosity, which backstop DB's existing liquidity reserves of just over €200 billion” leading to the question: “does DB know something investors don't?.”
  • A World On The Edge Of The Abyss
    With so many people worried about the chaos engulfing the globe, here is a look at a world on the edge of the abyss. From Art Cashin:  Originally, on this day in 1922, the German Central Bank and the German Treasury took an inevitable step in a process which had begun with their previous effort to “jump start” a stagnant economy. Many months earlier they had decided that what was needed was easier money. Their initial efforts brought little response. So, using the governmental “more is better” theory they simply created more and more money. But economic stagnation continued and so did the money growth. They kept making money more available. No reaction. Then, suddenly prices began to explode unbelievably (but, perversely, not business activity).
  • Chinese Banks Will Need $1.7 Trillion To Cover Bad Debt Deluge, S&P Calculates 
    Just last week we noted that in the latest shocker to emerge out of corporate China, at least a quarter of Chinese companies were unable to generate enough cash to cover their interest expense: as we noted previously this is the Ponzi Finance stage of China's debt curve, the one that comes just before the inevitable “Minsky Moment” at which point all bets are off. The implications of this, for the nation with nearly $20 trillion in corporate debt as well as a grand total of 300% in debt to GDP are staggering: it means that sooner or later, up to a quarter of bank loan exposure will have to be discharged, restructured, equitized or otherwise eliminated due to its non-performing nature, dramatically impacting not just the asset side of the bank ledger, but the liabilities as well, namely deposits, which could see a drop in the trillion.
  • Deutsche Bank Walking Dead-Bill Holter
    Financial writer Bill Holter says if you want to know how bad the global financial problems are in the world, start with Germany’s Deutsche Bank (DB). The problems keep mounting, and it’s been all downhill since June when the International Monetary Fund (IMF) deemed DB as the most systemically dangerous bank in the world.  Holter warns, “Deutsche Bank is dead.  It’s a walking dead institution. . . .Just the fact that there is a debate, whether or not there’s a problem, means they’re dead.  Once you start talking about a financial institution and whether or not they are solvent or not, it doesn’t matter.  The sharks are going to come into the water.”
  • The Ugly Stench of Hypocrisy
    The most insightful thing I’ve yet read about the Donald Trump sex talk scandal is this: How ironic, then, that a culture which rejects moral standards has suddenly become so pure and pristine, sitting in judgment of someone they deem too immoral to become president because of something he said in private. As a logical person, I have to ask these paragons of newly found virtue where this standard by which they’ve judged Trump is found. If morality is relative to each individual—a purely subjective experience—by what standard are they judging Trump? Obviously, in such a secular climate, there can’t even be a “standard.” Why should anyone listen to people who out of one side of their mouths declare the death of objective moral standards yet out of the other condemn someone for violating objective moral standards? Morality is not subjective. Human beings possess the capacity for rationality and objectivity. We’re able to distinguish what’s good and what’s bad.
  • Jim Rogers: Deutsche Bank Collapse Will Crash Entire World Financial System
    In the interview below, Jim Rogers discusses with RT how much danger the global economy is in right now, specifically because Deutsche Bank is teetering on collapse, but that is just one of many potential reasons the global economy is in danger. Jim is very blunt in his response about what a Deutsche Bank collapse would mean for the world. Jim says, “If Deutsche Bank goes bankrupt, it is going bring down the entire world financial system.” Who is Jim Rogers? Why should you care what he says? First of all, listen to him because he’s right. Start learning facts, and stop listening to mainstream media propaganda. They are lying. Your life may depend on being prepared. Second, Jim is hardly alone in his line of thinking. Many of the world’s best economists are saying a global reset is coming that will have an effect on the world like nothing mankind has ever seen before. One famous investor even goes as far as to say the collapse of the U.S. Dollar, and the global reset that follows it, will be the single biggest event in all of human history. Let that sink in…
  • “Wonky, Lunging” Unwinds Hit Stocks, Bonds, VIX As Systematic Deleveraging Strikes
    Where's Vladimir Putin when we need him? Having saved the world yesterday by spiking crude oil with his comments, the return of bond traders today sees a resumption of risk-parity fund deleveraging (as bond-stock correlations neared record highs).
  • Controlled Demolition Coming-Not a Crash-Catherine Austin Fitts
    Renowned investment advisor Catherine Austin Fitts says there is $9.3 trillion missing from the Department of Defense in 2015 alone. Fitts explains, “This is a phenomenal number and a phenomenal amount of money.  This is the cut and run.  All this money has been disappearing from the federal government. . . . I’ve been demanding to know what banks and contractors are liable for the systems.  We are talking about transactions that are in violation of the Constitution and the laws related to financial management. . . . As I have described many times, they’re using financial securities fraud, both mortgage securities and, I believe, government securities to basically shift all the assets out (of the country). I think you’ve got a game going on, and the Fed is accommodating all sorts of securities fraud.  Then, the money is being pulled out in a variety of ways.”
  • Sterling stages a ‘dead cat bounce' but analysts expecting further dips
    The pound staged a relief rally on hopes of a “full and transparent” debate on Brexit proposals in Parliament, but experts warned over further falls for battered sterling. Sterling made a cautious bounce back against most major currencies as Prime Minister Theresa May allowed Conservatives to back a Labour call for “proper scrutiny” of the plan, although she refused to commit to a Commons vote on the strategy. The pound rose nearly 1% or a cent to 1.22 US dollars and was more than 1% higher at 1.11 euro. It has been hammered since Mrs May announced earlier this month the formal Brexit negotiation process would start by the end of March 2017, suffering a further dramatic hit in last Friday's flash crash.
  • US/Russia Very Close to War, Global Debt Out of Control says IMF and MSM Political Hacks
    The U.S. and Russia are a lot closer to war in Syria than the mainstream media (MSM) would like you to think. One top U.S general said that war would be “extremely lethal and fast” and he said it was “almost guaranteed.”  Russia threatened to “shoot down U.S. aircraft over Syria.  Meanwhile, Secretary of State John Kerry has broken off all diplomatic relations with Russia in Syria. The International Monetary fund (IMF) is warning of much slower global growth. That means there is an even better chance that the ocean of debt accumulated around the world will not be repaid.  Puerto Rico just defaulted on its $70 in debt, and that is just the tip of a much deeper debt iceberg.  The IMF also warns that debt to GDP globally is an astounding $225%, and it says there is $152 trillion in debt around the planet.
  • Great News For Gold Bugs: The COT Report Is Playing Out As Usual, Which Means Lower – Then Much Higher – Prices Coming
    This year’s recovery in precious metals prices – and the sudden spike in gold/silver mining stocks – convinced a lot of people that a new bull market had begun. Last week’s brutal smack-down scared the hell out of many of the same folks. The latest commitment of traders (COT) report implies that we should all relax. Things are playing out pretty much according to a script that’s been in place for decades — and which points to happy times by early next year. The quick and dirty COT story is that it’s a snapshot of what the big players in gold/silver futures contracts are up to. There are two main groups in this market: the commercials (mostly big banks and companies that buy metal to turn it into coins, jewelry and industrial products) and speculators who bet on price moves. The former consistently fool the latter into guessing wrong at turning points. That is, the speculators are usually way long at the top and very short at the bottom. So you can tell where prices are headed over next the six or so months by looking at what the speculators are betting on and assuming that if they’re excited, they’re wrong. The following chart illustrates the point. Ignore everything here except the red line, which represents the speculators. When it’s way up, they’re very long and prices are about to fall, and vice versa.
  • During The Coming Economic Crisis Two-Thirds Of The Country Will Be Out Of Cash Almost Immediately
    Did you know that almost 70 percent of the U.S. population is essentially living paycheck to paycheck?  As you will see below, a brand new survey has found that 69 percent of all Americans have less than $1,000 in savings.  Of course one of the primary reasons for this is that most of us are absolutely drowning in debt.  In fact, the total amount of household debt in the United States now exceeds 12 trillion dollars.  So many Americans are so busy just trying to pay off their existing debts that they can’t even think about saving anything for the future.  If economic conditions remain relatively stable, the fact that so many of us are living on the edge probably won’t kill us.  But the moment the economy plunges into another 2008-style crisis (or worse), we could be facing a situation where two-thirds of the country is in imminent danger of running out of cash.
  • After This October Surprise, Donald Trump Only Has One Option Left: Expose The Clinton Crimes
    It is going to take a miracle of Biblical proportions for Donald Trump to win the election now.  If nothing changes between now and election day, Hillary Clinton is going to win in a landslide.  Out of all the candidates that were running for president this election cycle (including third party candidates), a Hillary Clinton presidency would be the worst possible outcome, but it appears that is precisely what we are going to get.  The 2005 recording in which Donald Trump admits that he used his celebrity status to grope women would instantly kill the career of a normal politician, but Donald Trump is no normal politician.  In essence, he admitted to being a sexual predator, and there is no way that you can spin that to make it acceptable.  Of course these comments were made 11 years ago, and Trump is a different man now, but that isn’t going to matter much to the mainstream media or to a large portion of the American public.  No matter what you or I may think about this, the cold, hard reality of the matter is that he is going to lose a lot of votes over this, and those were votes that he desperately needed if he hoped to defeat Hillary Clinton in November.
  • The Total Amount Of Debt In The World Just Hit A Record $152,000,000,000,000 (152 Trillion)
    If anyone ever asks you how much debt there is in the world, now you will know the answer.  According to the IMF, the total amount of debt around the globe has now hit a staggering 152 trillion dollars.  That is an amount of money that is almost unimaginable, and the IMF says that it is equivalent to 225 percent of global GDP.  It is the biggest debt bubble in the history of the planet, and it is rising at an extremely alarming pace.  Experts all over the world agree that when this debt bubble finally bursts, it is going to create an economic crisis on a scale that humanity has never seen before. When I first saw this number I was absolutely astounded at how reckless we all have become, and I was also amazed that there was hardly anything about this announcement in the mainstream media in the United States.
  • The New York Times Calls For Obama To Support A UN Resolution That Would Divide The Land Of Israel
    While most Americans are focused on the endless circus surrounding Donald Trump and Hillary Clinton, a drama of earth-shattering importance is playing out behind the scenes. Most people seem to assume that we don’t have to be concerned about Barack Obama anymore because his second term is scheduled to end in a few months, but the truth is that an absolutely critical decision is in his hands right now. Both Donald Trump and Hillary Clinton have said that they will not support a proposed UN Security Council resolution that would formally establish a Palestinian state, that would set the parameters for the new state, and that would grant them East Jerusalem as their capital. So at this moment there is a tremendous amount of international pressure on Barack Obama to support such a resolution, because the U.S. veto power on the UN Security Council is the only thing standing in the way of formally dividing the land of Israel. I wrote about this in August, in September, and now I am writing about it again in October. If Obama is going to do this, it needs to happen by January 20th, 2017, and so for the next few months we are officially in “the danger zone”.
  • West Rattled Over Russian Missiles on NATO Border
    Russia’s deployment of nuclear-capable missiles its enclave of Kaliningrad on the Baltic Sea is a “wake-up call” for the West of the current dangers, according to analysts. Germany warns the tensions between Moscow and the West are more dangerous than during the Cold War. Russia’s Iskander missiles have a range of around 500 kilometers, and their deployment in the Russian enclave of Kaliningrad, sandwiched between Poland and Lithuania, has rattled the West. “The dramatic reaction of the West about Iskander [missiles] now is that it is just a wake-up call, it is just a very clear message. It is that ice-cold bucket of water that says, ‘Wake up, you are not living in a safe world,” said Igor Sutyagin, a Russian military analyst at London’s Royal United Services Institute. Moscow says the deployment is part of a regular military exercise.
  • Major Election Fraud Alert – Is This How They Are Going To Steal The Election From Donald Trump?
    Every ounce of effort that ordinary Americans have put into getting Donald Trump elected could be completely wasted if we allow them to steal the election.  If you have confidence in the integrity of our elections, that confidence will be shaken by the time you are done reading this article, because I am about to share some information with you that is absolutely astounding.  Yesterday, I showed you that dead people are being registered to vote right now and that they have been voting in elections across the country for years.  I also showed you that illegal immigrants have been voting in important swing states such as Virginia and Pennsylvania.  But all of that pales in comparison to the evidence of systematic election fraud that we witnessed on election day in 2012. Because Mitt Romney threw in the towel very early on election night in 2012, very little scrutiny was given to the actual voting results.  But if Romney had been willing to fight, there was actually quite a bit of evidence that the election was potentially stolen from him.
  • Russia Is Preparing For A Nuclear War With The United States
    In Russia there is talk that war with the United States is inevitable, and they are feverishly preparing to win such a war when it happens. Thanks to tensions over Ukraine, Syria and the price of oil, U.S. relations with Russia are the worst that they have been since at least the end of the Cold War. In fact, one false move could result in U.S. and Russian forces shooting at each other in Syria as you will see below. The Russians have worked incredibly hard to upgrade and modernize their military in recent years, but meanwhile the U.S. military is being transformed into a radically politically-correct social experiment by the Obama administration. Most Americans simply assume that we will never fight a war with Russia, and that if for some reason we did that we would win easily. Unfortunately, things have changed dramatically over the past decade, and the truth is that the Russians now have the upper hand.
  • Is This How World War III Begins, In Almost Complete Silence?
    I used to wonder how these massive World Wars happened. World War I, for instance.  The “official” story for why it happened makes absolutely no sense.  The mainstream reason for the war was because some Archduke from Austria got killed. Then, like some bizarre drunken bar fight, tens of millions of people from dozens of different countries all were wounded or injured in the ensuing four years. Did ANY of these tens of millions of people really care if some rich guy got killed?  Probably not. So, what happened?  Well, like most wars backed by the financial elites, it appears they just wanted a big war.  And through the use of propaganda, fear and coercion, they somehow got tens of millions of people to butcher each other.
  • Barclays Warns The Party Is Almost Over As Payouts Exceed Cash Flow By $115 Billion
    Over the past several years, there have been two primary sources of upside for the stock market: trillions in corporate buybacks, as companies themselves engaged in record repurchases of their own stock, often at price indiscriminate levels in a bid to not only raise the stock price but also the stock-linked compensation of management , and a similar amount of dividend payments which in a time of negligible yields, became one of the main drivers for buyers to scramble into the “safety” of dividend paying stocks. Collectively these account for an unprecedented amount of payouts to shareholders. Today, Barclays' head of equity strategy Jonathan Glionna quantifies just how much corporate cash flow has and will be used to fund these payouts. Glionna finds that in aggregate the companies within the S&P 500 are returning a record amount of cash to shareholders through dividends and buybacks. Since 2009 dividends have increased by more than 100%, reaching $98 billion in the most recent quarter. Meanwhile, gross buybacks have tripled and Barclays forecasts that they will reach $600 billion in 2016. In fact, buybacks plus dividends could surpass $1 trillion in 2016, for the first time ever.
  • Vladimir Putin pushes up oil prices as Russia signals it will cap production
    Oil prices climbed to a one-year high after Russian president Vladimir Putin said the country was ready to join OPEC efforts to limit oil production with either a freeze or a cut. Prices climbed almost 2.5pc to $53.14 a barrel on Monday after Mr Putin told an energy congress in Istanbul that Russia was “ready to join the joint measures to cap production” and would “call for other oil exporters to join”. Khalid Al-Falih, the Saudi energy minister, said other producers outside OPEC had expressed their readiness to work with the cartel.
  • FTSE 100 hits record high as pound weakens
    A further weakening of sterling has helped push the FTSE 100 to a record high during trading on Tuesday. The country's premier share index climbed above 7,123 points just after midday – beating its previous highest level recorded in April last year – going as high as 7129 before slipping back. Shares in its constituents have soared this month, in pound terms, as the currency has weakened. The FTSE 100 consists largely of export-dominated multi-nationals which make the bulk of their sales in dollars – making the stocks of such firms more attractive when those sales are converted back to pounds. However, on dollar terms, the FTSE's market value remains well below its referendum result level – down more than 6%.
  • Here's Where The Next Bank Deposit “Bail-In” Will Strike…
    One shot from a pistol pierced the night right before Antonio Bedin collapsed, dead. Antonio, a 67 year-old retired Italian, had just committed suicide. He was plagued by health problems and by the loss of his savings. Last year, four small Italian banks became insolvent and immediately needed capital. They turned to a bail-in. Antonio was one of thousands of small savers who were wiped out. Antonio lost everything. Then he shot himself.
  • Deutsche Bank CEO Returns Home Empty-Handed After Failing To Reach ‘Deal' With DOJ: Bild
    Following the seemingly endless procession of short-squeeze-fueling trial balloons last week – from settlement rumors to German blue-chip bailouts to Qatari investors – Germany's Bild newspaper confirms the rumors that sparked weakness on Friday: Deutsche bank CEO John Cryan has failed to reach an agreement with the US Justice Department.
  • Worst Crash of All Coming-Mike Maloney
    Gold and silver expert Mike Maloney has been producing an internet series called “The Hidden Secrets of Money.” His latest is episode seven in this ongoing series, and it gives a stark warning about “The USA’s Day of Reckoning.” Maloney explains, “Watch episode seven if you want to see the future.  I was very accurate in predicting the crash of 2008 and the consequences of it.  I believe the rest of my predictions that did not come true have not come true—yet.  They are about to.  Episode seven is the USA’s day of reckoning. . . . It’s going to be devastating for most people. . . . I believe there is going to be an enormous wealth transfer. It is up to every individual whether that wealth is transferred away from them or towards them.  Sometimes the wealth transfer goes from 100 people to one or 1,000 people to one.  This time, it’s going to be hundreds of thousands to one.  There are going to be very few big winners and a whole lot of losers.”
  • Ray Dalio Warns A 1% Rise In Yields Would Lead To Trillions In Losses
    Last week, we shared with readers a fascinating presentation that Bridgewater's Ray Dalio made to NY Fed staffers at the 40th Annual Central Banking Seminar held on Wednesday, October 5, 2016. In it, Dalio pointed out that thoughts which dared to question the economic orthodoxy, and which were once relegated to the fringe blogs, have become the norm, pointing out that it is no longer controversial to say that: …this isn’t a normal business cycle and we are likely in an environment of abnormally slow growth …the current tools of monetary policy will be a lot less effective going forward …the risks are asymmetric to the downside …investment returns will be very low going forward, and …the impatience with economic stagnation, especially among middle and lower income earners, is leading to dangerous populism and nationalism. He further notes that the debt bubble which was not eliminated during the financial crisis of 2008, has since grown to staggering proportions, and notes that “the biggest issue is that there is only so much one can squeeze out of a debt cycle and most countries are approaching those limits.”
  • Globalization Is Done
    I read a lot, been doing it for years, about finance and affiliated topics (a wide horizon of them), which means I’ve inevitably seen a wholesale lot of nonsense fly by. But for some reason, and I think I know why, Q3 2016 has been gunning for a top -or bottom- seat in that regard, and Q4 is looking to do it one better/worse. Apart from the fast increasingly brainless political ‘discussions’ that don’t deserve the name, in the US and UK and beyond, there are the transnational organizations, NATO, IMF, EU and all those things, all suffocating in their own hubris, things I’ve dealt with before in for instance Globalization Is Dead, But The Idea Is Not and Why There is Trump. But none of it still seems to have trickled through anywhere that I can see. The end of growth exposes the stupidity and ignorance of all but (and even that’s a maybe) a precious few (of our) ‘leaders’. There is no other way this could have run, because an era of growth simply selects for different people to float to the top of the pond than a period of contraction does. Can we agree on that? ‘Growth leaders’ only have to seduce voters into believing that they can keep growth going, and create more of it (though in reality they have no control over it at all). Anyone can do that. So ‘anyone’ who’s sufficiently hooked on power games will apply.
  • The Coming Recession: Blame the Federal Reserve, Not the President
    No matter who is elected this November, there will be a recession before the next President is elected. This is why we should not lose sight of cause and effect: central banking. This is true in every major nation and the Eurozone. Central banks operate domestic banking cartels. These cartels operate for the advantage of large multinational banks. The central banks establish the rules of money creation domestically. This places limits on the banking system as a whole. When there is a recession, blame the central bank. It establishes the rules governing the creation of the central economic institution: money.
  • WARNING: The Coming Collapse Will WIPE OUT Millions Of Americans
    As the Financial Circus continues today, pushing down the precious metals prices, millions of Americans are going to get WIPED OUT when the collapse of U.S. net worth begins in earnest. Anyone with a tad bit of common sense realizes these financial markets today are totally disconnected from reality. With new stories of 40 million Russians to take part in “Nuclear Disaster” drill, the Philippine President telling President Obama “To Go To Hell”, he’s buying weapons from Russia, U.S. Suspends Diplomatic Relations With Russia on Syria, U.S. Ends Fiscal 2014 With $1.4 Trillion Debt Increase: Third Largest In History, Deutsche Bank Troubles Raise Fear of Global Shock, it’s completely hilarious that the gold and silver prices are selling off big time today.
  • Chinese yuan weakens to six-year low against USD
    The central parity rate of the Chinese currency renminbi, or the yuan, weakened 230 basis points to 6.7008 against the US dollar on Monday, the China Foreign Exchange Trade System (CFETS) said. It was the weakest level since September 2010 as increased market expectations for an interest rate hike in the US led to a stronger dollar, Xinhua news agency reported. In September, the yuan exchange rate composite index, which measures the yuan's strength relative to a basket of currencies including the US dollar, euro and Japanese yen, weakened by 0.28 per cent month on month to 94.07, CFETS data showed.
  • A Look Inside The Pound Flash Crash: What Really Happened In Those 30 Seconds
    At just after 7 minutes after hour, whether 7pm on the east coast, midnight GMT or early Friday morning in Asian trading, pound sterling plunged by more than 6%, in the span of 2 minutes although the bulk of the plunge took place in just 30 seconds: from 7:16 to 7:46, when the market became “disorderly” in technical parlance, or in simple terms, broke. And since earlier today the Bank of England mandated none other than the BIS (specifically the bank's “Head of Foreign Exchange & Gold”, Benoit Gilson) to explain what happened, here is a place to start trying to reverse engineer the latest flash crash. For the best forensic analysis piecing together what happened last night, we go to Citi's Daniel Randall who tells the overnight story of the GBP, who also shows that the key pair involved in the selling was indeed cable…
  • Deutsche Bank Tells Investors Not To Worry About Its €46 Trillion In Derivatives
    Having first flagged Deutsche Bank enormous derivative book for the first time back in 2013, it wasn't until last week that JPMorgan admitted just what the biggest risk facing Deutsche Bank was. In a note by JPMorgan's Nikolaos Panigirtzoglou, the strategist warned that, “in our opinion it is not so much funding issues but rather derivatives exposures that more likely to trouble markets going forward if Deutsche Bank concerns continue. This is especially true if these concerns propagate into a confidence crisis inducing more rapid unwinding of derivative contracts.”
  • USA's Day Of Reckoning Looms – “We've Had 2 Warnings, The 3rd Strike Is Game Over”
    History shows that once or twice in a generation a global crisis comes along that radically devastates people’s way of life. A fundamental shift so big and drastic and overwhelming that it destroys their standard of living and impacts every area of their lives. We are about to experience one of those events… As Mike Maloney outlines in his brand new episode of the Hidden Secrets of Money, that next major event is deflation. And the culprit will be a relatively obscure monetary term that will impact virtually every area of your life: money velocity. You may not know exactly what money velocity means, but we will all soon experience it firsthand. In fact, money velocity will be the culprit of not just deflation, but the resulting inflation—and maybe hyperinflation—that will immediately follow. [Mike refers to it as “currency” velocity, a more accurate term, since true “money” is gold and silver.]
  • The pound is falling again
    There is no let up for sterling. After a disastrous week that saw the pound repeatedly mark new 31-year lows against the dollar, sterling is falling against the greenback again on Monday morning.
  • Global debt hits all-time high of $152 trillion; billionaire warns of “big squeeze” 
    “This is a global problem,” said billionaire hedge fund manager Ray Dalio yesterday to a packed audience of central bankers. “Japan is closest to its limits, Europe is a step behind it, the US is a step or two behind Europe, and China is a few steps behind the United States.” I can only imagine the mood in the room was a bit tense after that comment. Mr. Dalio, founder of the $160 billion investment firm Bridgewater Associates, was invited to speak at the Federal Reserve Bank of New York’s 40th Annual Central Banking Seminar yesterday. Rather than gush about how wonderful the Fed’s zero interest rate policies have been since the financial crisis, Dalio gave them a fire hose of reality. His primary thesis was that the debt supercycle that has lasted for decades is coming to an end, and that there’s going to be a “big squeeze”. “The biggest issue,” he said, “is that there is only so much one can squeeze out of a debt cycle, and most countries are approaching those limits.”
  • China heading for ‘financial crisis' that could have ‘very serious repercussions' for global economy, IMF warns
    China could be heading for a financial crisis due to the level of financial and corporate debt, the International Monetary Fund (IMF) has warned. Markus Rodlauer, deputy director of the IMF's Asia-Pacific department, said the level of debt in the Chinese economy was on an “unsustainable path”, adding that a financial problem in China would have “very serious repercussions” for the global economy. Mr Rodlauer told The Telegraph: “The level of financial and corporate debt and the complexity of the financial system and rapid growth in shadow banking is on an unsustainable path. “While still manageable in its size given the size of the public assets under public control, the trend is dangerous”. “The longer it lasts … the more serious the disturbance and the disruption might be. [The reaction could range] from a mild growth slowdown, to a sharp slowdown in growth to potentially a financial crisis.”
  • More Confessions of an Economic Hit Man: This Time, They’re Coming for Your Democracy
    Twelve years ago, John Perkins published his book, Confessions of an Economic Hit Man, and it rapidly rose up The New York Times’ best-seller list. In it, Perkins describes his career convincing heads of state to adopt economic policies that impoverished their countries and undermined democratic institutions. These policies helped to enrich tiny, local elite groups while padding the pockets of U.S.-based transnational corporations.
  • Pastor Lindsey Williams introduces Pastor David Bowen – October 6, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his second 10 minute weekly video for readers of Pastor Williams’ weekly newsletter.

Precious Metals Are The Only Lifeboat! I have persistently WARNED you what was happening in the gold market and why you needed to convert your paper assets to physical gold and silver by the middle of September 2015. You need to hedge against the financial instability with physical gold and silver. Call the experts to help you convert your IRA or 401k into Gold, Silver and Other Precious Metals. Call GoldCo NOW before it's too late! Call Toll-Free 1-877-414-1385.

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Latest News Articles – October 6, 2016

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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Lindsey Williams - Latest News Articles

Latest News From September 30, 2016 to October 6, 2016:

  • BofA Says It Has Found Evidence Of An “Imminent Recession”
    As Bank of America's Savita Subramanian writes in an overnight note titled “Is it about time for a recession?”, while the bank's economists do not officially predict a recession in the coming year, instead forecasting slow and steady growth in the US, the strategist admits that over seven years and more than 270% into this bull market, “one wonders how much longer this cycle can last.” While BofA writes that it has not yet found a model that accurately forecast recessions, “and even if we did, not all recessions result in bear markets” in examining some of some of the bank's favorite indicators’ recent trends, it has “found evidence for an imminent recession.” It adds that while the range of signals is wide, in aggregate they do suggest that, if data were to continue to weaken in line with the recent pace, history would point to a recession in the second half of 2017.
  • Here’s some compelling data about the next recession
    In the modern history of the US economy over the past seven decades, the longest period of time the country has gone without a recession was 10 years. Since the end of World War II there have been 11 recessions in the United States of America, so the average time in between recessions is 6 years and 5 months. The average length of recession was 336 days; the longest recession in modern history was 18 months in 2008-2009, and the shortest was 6 months in 1980.
  • China Shocker: A Quarter Of All Companies Can't Pay The Interest On Their Debt
    Almost exactly one year ago, we reported that as a result of the commodity crash of 2015, more than half of Chinese companies in the commodity sector did not generate enough cash flow to pay the interest on their debt. Months later this has manifested in a countrywide push for debt-for-equity exchanges, and outright bankruptcies including the first ever liquidation of a Chinese state-owned enterprise. While dramatic, the question remained: what about other Chinese companies not directly involved in the commodity space? We now know the answer: according to Reuters, profits at roughly a quarter of all Chinese companies were too low in the first half of this year to cover their debt servicing obligations, i.e., merely the mandatory interest payment let along debt maturities, as earnings languish and loan burdens increase.
  • Governments must heed IMF warning of $152tn global debt timebomb
    First it was the august Bank for International Settlements. Now it is the International Monetary Fund sending out a warning about global debt. For the first time, the IMF has had a comprehensive look at indebtedness and the numbers are huge. Global debt is estimated at $152tn, or about 225% of annual global output. Two-thirds of the debt – approximately $100tn is held by the private sector. The IMF hopes the debt data published in its half-yearly fiscal report will chivvy governments into action before it is too late.
  • The big chop: European banks slash over 20,000 jobs
    European banks are set to slash more than 20,000 jobs as tougher capital requirements and negative interest rates bite into the sector’s profitability, putting fresh pressure on many lenders to cut costs further. Dutch lender as it focuses on internet and mobile banking and automates systems. ING expects to save about $1bn (£780m) a year through its job-cutting programme.
  • Pew: Most Americans Don’t Believe in ‘Scientific Consensus’ on Climate Change
    Nearly three-quarters of Americans don’t trust that there is a large “scientific consensus” amongst climate scientists on human behavior being the cause of climate change, according to an in-depth survey on “the politics of climate” released Tuesday by Pew Research Center. According to the survey, only 27 percent of Americans agree that “almost all” climate scientists say that human behavior is mostly responsible for climate change, while 35 percent say that “more than half” of climate scientists agree on this. An additional 35 percent of those surveyed say that fewer than half (20%) or almost no (15%) climate scientists believe that human behavior is the main contributing factor in climate change.
  • It’s official: US government ends fiscal year with $1.4 trillion debt increase
    It’s official. The United States government closed out the 2016 fiscal year that ended a few days ago on Friday September 30th with a debt level of $19,573,444,713,936.79. That’s an increase of $1,422,827,047,452.46 over last year’s fiscal year close. Incredible. By the way, that debt growth amounts to roughly 7.5% of the entire US economy. By comparison, the Marshall Plan, which completely rebuilt Western Europe after World World II, cost $12 billion back in 1948, or roughly 4.3% of US GDP at the time. The initial appropriation for the WPA, perhaps the largest of Roosevelt’s New Deal “make work” programs that employed millions of people, cost 6.7% of US GDP. And, more recently, the US $700 billion bank bailout at the beginning of the 2008 financial crisis was the equivalent of 4.8% of GDP. So basically these people managed to increase the national debt by a bigger percentage than the cost of the New Deal, Marshall Plan, and 2008 bank bailout.
  • Banks With $12 Trillion In Assets Threatened By Persistent “Shocks”, IMF Finds
    In its latest report on financial stability released today, the IMF, which is also currently meeting to find a solution to globalization that benefits all people not just the very top, warned that risks to financial stability are growing. It warned about what it calls “medium-term” dangers in both emerging and developed economies, and expressed particular concerns about Europe, Japan and China. As cited by the BBC the report says investors were taken by surprise by the result of the British referendum on the European Union, but the political shock was absorbed by markets. They passed what it calls “this severe stress test”. But looking further ahead, the IMF sees growing risks. A key factor for future bank health is profits or lack thereof. As Deutsche Bank has found out the hard way in recent weeks, weak profitability makes it harder for banks to build up their capital – which they can do by holding on to some profit rather than giving it all to shareholders as dividends. It also makes it harder for them to expand lending to business and consumers, as is needed to support economic recovery.
  • Investors Piling Into Junk Bonds Could Be Overlooking Warning Signs
    More warning signs are flashing in the junk-bond market. Investors that have been loading up on the securities as an alternative to ultra-low interest rates are now barely getting paid more than higher-ranking bank lenders, who would typically get their money back first in the event of a default. The difference in yields between junk bonds and the more senior leveraged loans is the narrowest in two years, data compiled by Bloomberg show. “The risk-reward is getting skewed,” said Peter Tchir, head of macro strategy at Brean Capital LLC. “It’s a sign markets are not assigning enough risk to those high-yield bonds.”
  • For Crispin Odey This Is The Engame: Hedge Fund Billionaire Goes All In Betting On “Violent Unwind” Of QE Bubble
    In mid-August, when the market was enjoying its low-volatility grind higher, we observed that one of the biggest bears in the hedge fund industry, Crispin Odey, was having a bad year, with his hedge fund sinking some 30% through the end of July. Since then, conditions have only gotten more precarious for the billionaire hedge fund manager, and as the FT writes, for Odey, who is betting it all “on a violent unwind of a QE bubble”, the endgame may have arrived. As Miles Johnson writes, “many financial commentators have warned that current monetary policy has inflated a bubble that will one day violently pop. Few of them have risked money betting on the precise manner in which a chaotic unwinding of quantitative easing will play out through financial markets. This makes the portfolio of Crispin Odey, a London-based hedge fund manager, an interesting outlier. Mr Odey is one of only a handful of investors who has backed up his dire prognosis for the global economy with a series of large, leveraged trades designed to pay off in the event of a crash.” To be sure, as we noted two months ago, Odey's bets are predicated on a collapse of Japanese bond prices, a surge in the price of gold and immolation of equities. Or as the FT puts, it, “If it works he may make hundreds of millions of dollars for his clients. If wrong his fund may not survive.”
  • TARGET2 Shows Europe's Banking Crisis Is Escalating Again (Fast)
    Problems of Deutsche Bank, Commerzbank, Monte dei Paschi and other German, Italian and Spanish banks are not the only concern of the European Banking System. Trouble is much deeper than it is thought because there is a systemic imbalance that has been increasing for almost ten years. Politicians do not want to tell us the truth, but soon we will experience the same crisis in the Monetary Union as we did in 2012. The extent of the problems in the European Banking System is TARGET2 and its balances of the National Central Banks of the Eurosystem. These balances, or rather imbalances, reflect the direction of the capital flight. And there is only one way: from Southern Europe into Germany. After Mario Draghi’s famous words “I do whatever it takes to save the euro”, things seemed to improve; however, since January 2015 problems have been escalating again.
  • Another Banking Crisis Begins?
    When financial systems begin to fail, the banks are always at the center. When your assets are mostly tied up in long-term, relatively illiquid transactions while your funding is mostly of the overnight variety, from depositors, money market funds and other banks, trouble is never far away. Banks are the perfect stress indicator within the system. Deutsche Bank (DB) became the story last week as its $14 billion market cap would be wiped out by a proposed $14 billion fine from the U. S. Justice Department for various transgressions going back to the financial crisis. Most expect the eventual settlement will be much less. For a better perspective, DB's $14 billion market cap should be compared to its debt, which totals around $160 billion. The markets may not be able to pull apart a typically labyrinthine bank balance sheet, but extreme imbalances like this can be understood. To put this ratio in context, Citicorp, hardly a paragon of virtue, has a market cap of around $130 billion backing its debt of $163 billion.
  • Deutsche Bank Brings Too-Big-to-Fail Quandary Home to Merkel
    When it comes to speculation about German government support for Deutsche Bank AG, Chancellor Angela Merkel has no good answer. After years spent leading the push for new European Union rules to contain banking crises without putting taxpayers on the hook, you might expect Merkel to rule out state aid for Deutsche Bank. She hasn’t, even though that would be politically expedient with an election looming next year. Confronted with ailing banks, Merkel and other EU leaders face a quandary. Markets assume they won’t deploy their biggest weapon — bail-in, or imposing losses on private investors — when it comes to a giant like Deutsche Bank because of the risk of contagion. Yet policy makers are also increasingly ambivalent about the bloc’s solution for too-big-to-fail banks, largely for the same reason.
  • Minnesota Commissioner Slams Obamacare As “Unfair & Unsustainable” As Rates Soar
    Soaring Obamacare premiums and declining insurer participation rates in exchanges across the country have been a frequent topic of conversation for us (see “Obamacare On “Verge Of Collapse” As Premiums Set To Soar Again In 2017″ and “Stunning Maps Depict Collapse Of Obamacare “Coverage” In 2017″).  So it should come as no surprise to our readers that Minnesota has just announced that 2017 Obamacare rates have been set and are expected to soar nearly 60% on average. Minnesota Commerce Commissioner Mike Rothman posted a letter to the state's website saying that the state succeeded in preserving the exchanges for one more year by agreeing to massive rate hikes but warned they are on the “verge of collapse.”  The letter goes on to describe Minnesota's healthcare rate environment as “unsustainable and unfair” and notes that “middle-class Minnesotans” are being “crushed by the heavy burden of these costs.”
  • 5 Stories The Mainstream Media Ignored While Reporting On Kim Kardashian's Robbery
    One of the saving graces of the ailing corporate media – for the folks setting the agenda, anyhow – is its relentless ability to hyper-focus the public’s attention on altogether meaningless events. Take, for instance, an armed robbery that sees property stolen but no one harmed. Such an event is unfortunate, yes, but such is life. People get robbed. It certainly isn’t something that should consume the news cycle — particularly when developments of actual importance are unfolding around the world. Yet that’s exactly what happened this week after reality TV star Kim Kardashian was robbed at gunpoint in Paris on Monday morning. Kardashian, who was in town for Fashion Week, was forced into the bathroom of her hotel room, tied up, and robbed at gunpoint. The perpetrators, men dressed as police officers, stole about $10 million. Again, it was an unfortunate incident, but the starlet is fine, and Paris officials have assured the Kardashian clan the perpetrators will be brought to justice. At this point, had the celebrity been an average citizen, the media would have likely concluded there was nothing more to the story and moved on. But then, if she were an average citizen, the media wouldn’t have covered the story in the first place.
  • WARNING: Protect Yourself As China Seizes Control Of The Internet
    With many investors worried about the economic turmoil that has engulfed the globe, protect yourself as China seizes control of the internet.  Also, this will be the greatest bull market in history. Gold’s Greatest Bull Move And China’s Seizure Of The Internet. Stephen Leeb:  “If today seems like just another ordinary Saturday, think again. Someday Oct. 1, 2016 will be recognized as a momentous day in world history, for it marks the official transfer of economic power from the West to the East and in particular to China, the East’s clear hegemon…
  • In Major Victory For Gold And Silver Traders, Manipulation Lawsuit Against Gold-Fixing Banks Ordered To Proceed
    Back in April, precious metal traders felt vindicated when Deutsche Bank agreed to settle a July 2014 lawsuit alleging precious metal manipulation by a consortium of banks. As a reminder, In July 2014 we reported that a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar market. The lawsuit, which was originally filed in a New York district court by veteran litigator J. Scott Nicholson, a resident of Washington DC, alleged that the banks, which oversee the century-old silver fix manipulated the physical and COMEX futures market since January 2007. The lawsuit subsequently received class-action status. It was the first case to target the silver fix. The alleged conspiracy started by 1999, suppressed prices on roughly $30 billion of silver and silver financial instruments traded each year, and enabled the banks to pocket returns that could top 100 percent annualized, the plaintiffs said.
  • The Biggest Scandal
    Certainly, any attempt to identify the most serious current financial scandal involves stiff competition and the need for objective measurement. Scandals have become almost commonplace and come in all varieties and sizes and vary in the degree of publicity they attract. But there’s a big difference between the scandals that create the most headlines compared to the scandals that financially damage the greatest number of victims. I would contend that the biggest scandal must be defined by the greatest financial damage to the most people and not the amount of publicity a scandal might generate. A case in point is the current scandal involving the bank Wells Fargo. For sure, the bank was fined an attention-getting amount ($185 million) and admitted to firing 5300 employees involved in the fraudulent opening of millions of accounts without the knowledge or permission of customers. No doubt there will be more shoes to drop in the Wells Fargo affair, including compensation claw backs from upper level managers, a variety of lawsuits and possible labor violations, but in terms of financial damage to aggrieved customers, the scandal hasn’t amounted to much – a few million dollars at best.
  • Bill Gross on Today’s Markets: “This Cannot End Well”
    Bill Gross of Janus Capital published his monthly investment outlook yesterday, and once again the famous “Bond King” put out a scathing review of central banking policy.
  • Pentagon Paid British PR Firm $500mm To Create Fake Al Qaeda Propaganda Videos
    Per new discoveries revealed by the The Bureau of Investigative Journalism, the United States government paid over $500mm to a British public relations firm, Bell Pottinger, between May 2007 and December 2011 to create fake Al Qaeda propaganda films aimed at tracking terrorist viewing locations.  According to a Bell Pottinger insider, propaganda films were categorized into three categories with “White” being accurately attributed, “Grey” being unattributed, and “Black” being falsely attributed material.  The media firm created various types of content ranging from TV commercials to news items and “fake Al Qaeda propaganda films.”
  • Iraq Will Use Sept 11 Bill To Sue US Government For 2003 Invasion, Demand Compensation
    As reported on Saturday, a September 11 widow was the first American to take advantage of the recently passed Justice Against Sponsors of Terrorism (JASTA), aka the “Sept.11” bill courtesy of Congress which for the first time in Obama's tenure overrode his veto, by suing the Kingdom of Saudi Arabia. Stephanie Ross DeSimone alleged the kingdom provided material support to al-Qaeda and its leader, Osama bin Laden leading to the death of her husband, Navy Commander Patrick Dunn, who was killed at the Pentagon on Sept. 11, 2009, when Stephanie was two months pregnant at the time with the couple's daughter. Her suit is also filed on behalf of the couple’s daughter. She sued for wrongful death and intentional infliction of emotional distress, and is seeking unspecified compensatory and punitive damages.
  • Saudi Arabia Responds To US 9/11 Bill Veto
    With the first 9/11 lawsuit already winging its way to The Kingdom following Congress' decision to un-vet, Saudi officials have broken their silence “stressing their concern” and warning of “consequences.”
  • FBI Allowed 2 Hillary Aides To “Destroy” Their Laptops In Newly Exposed “Side Agreements”
    Just when you think the Hillary email scandal can't get any more bizarre and corrupt, it does. According to a just released letter from the Chairman of the House Judiciary Committee, Bob Goodlatte (R – Virginia), to Attorney General Lynch, the FBI apparently struck “side agreements” with both Cheryl Mills an Heather Samuelson to “destroy” their “laptops after concluding its search.”
  • Morgan Stanley charged with running unethical sales contests: regulator
    Morgan Stanley was charged with “dishonest and unethical conduct” by Massachusetts' top securities regulator on Monday for having pushed its brokers to sell loans to their clients. Secretary of the Commonwealth William Galvin alleges that the bank ran high-pressured sales contests in Massachusetts and Rhode Island where brokers could earn thousands of dollars for selling so-called “securities based loans.” (SBLs) The contests, designed to boost business, were officially prohibited by Morgan Stanley but turned out to be lucrative for the bank with the pace of loan origination tripling and adding $24 million in new loan balances, Galvin said.
  • Podcast: European Banks In The Eye Of The Storm
    Deutsche Bank, Commerzbank, the Italian banks…it’s getting ugly across the pond, and the worst is yet to come. Here’s a brief look at the reasons why, including derivatives, ridiculous capital rules, dumb lending practices and, of course, negative interest rates. If you’re looking for short sale candidates, Europe’s banks should be on the list.
  • Bring Back The Cold War — Paul Craig Roberts
    Pundits have declared a “New Cold War.” If only! The Cold War was a time when leaders focused on reducing tensions between nuclear powers. What we have today is much more dangerous: Washington’s reckless and irresponsible aggression toward the other major nuclear powers, Russia and China. During my lifetime American presidents worked to defuse tensions with Russia. President John F. Kennedy worked with Khrushchev to defuse the Cuban Missile Crisis. President Richard Nixon negotiated SALT I and the anti-ballistic missile treaty, and Nixon opened to Communist China. President Carter negotiated SALT II. Reagan worked with Soviet leader Gorbachev and ended the Cold War. The Berlin Wall came down. Gorbachev was promised that in exchange for the Soviet Union’s agreement to the reunification of Germany, NATO would not move one inch to the East.
  • China’s elderly population 240 mln by 2020
    The National Health and Family Planning Commission predicts the number of China’s elderly (above 60) to reach 240 million – or 17 per cent of the population – by 2020. The Commission’s deputy head Liu Qian said the government would improve the medical insurance system and basic public health services. But he also said that there were about 260 million Chinese afflicted with chronic disease. The growing number of elderly and the falling number of working age people is a concern for Chinese leaders. China faces the risk of ending up with an outsized elderly population before it becomes a developed economy.
  • Obama Wages “Economic War” Against Deutsche Bank, ATM’s Go Dark
    As you’ll learn below, on Friday things seemed to be turning around, if only slightly, for the much beleaguered German Deutsche Bank. The bank’s stock rose around 14% on rumors that Deutsche Bank had reached a settlement with Obama’s Department of Injustice regarding a $14 billion demand. It was believed that a settlement was reached with the DOJ for $5.6 billion, which would still utterly cripple Deutsche Bank, but since the $14 billion originally demanded is the entire market capitalization of the bank, $5.6 billion felt like a little hope anyway. As it turns out, the rumors were false, and there was no validity to the existence of a settlement.
  • October Surprise Coming-Gerald Celente 
    Trends researcher Gerald Celente sees an “October surprise” coming for the economy, terror or war.  Celente contends, “Even that sellout, Mario Draghi (Head of the European Central Bank-ECB) the former head of the Goldman Sachs European division, now playing the ECB President, came out and said the central banks can’t do anymore, and they are looking now for government stimulus.  That’s going to be the new game.  What I am saying is it’s collapsing.  Look what happened in Japan a week and a half ago.  Everybody was waiting for the bank of Japan to play another card, and they had none to play.  So, look for October for things to go bad.  Traditionally, when things go bad in markets, it’s October, and they are going bad now.  By the way, we are now going into the sixth consecutive quarter in the United States with the S&P 500 negative.  Negative earnings in the S&P 500.  The only reason the markets are going up is like Trump said, the cheap dough going in there, stock buybacks and mergers and acquisitions.  Number two:  This is number two A and B.  That is either a terror strike, false flag or real.  You almost saw it in New York a couple of weeks ago when some guy went nuts.  Now, multiply that times 70.  Also, war because they are heating it up, and they are putting out more war talk.  The anti-Russian propaganda is like nothing we have ever seen before, and it continues.  Even at the debate, Hillary put it out there blaming Russia for hacking into the DNC.  There is absolutely no positive proof.  Do you think they have bigger things to do?  Oh, and this is an important one . . . Julian Assange says he’s holding on to information that is going to be very detrimental to Clinton.”
  • US and Russia Close to War, Global Economy on Brink of Collapse, NBC Biased for Clinton
    The United States is reportedly suspending diplomacy with Russia, and it also says it’s preparing military options in Syria. The U.S. has asked Russia to stop its bombing campaign in Syria, and Russia will not agree to do so.  State Department spokesman John Kirby says, “More Russian lives will be lost, and more Russian aircraft will be shot down.”  This is a serious escalation between Washington and the Kremlin, and the only outcome to this is a wider war in Syria that could mean an eventual global war between America and Russia that would, no doubt, involve all allies as well.
  • Repeat of 2008 Financial Crisis Coming-Only Worse-Peter Schiff
    In Monday night’s first Presidential debate, Donald Trump criticized the Federal Reserve’s handling of the economy and warned, “. . . if you raise interest rates even a little bit, that’s going to come crashing down. We are in a big, fat, ugly bubble.” Money manager Peter Schiff explains, “Trump says if we raise rates, a lot of bad things are going to happen.  Then, he criticizes the Fed for keeping rates low.  So, which is it? He’s trying to have his cake and eat it too.  What Trump has to explain is low interest rates don’t help the economy.  Low interest rates are one of the biggest headwinds to the economy because all they do is inflate asset bubbles and prevent legitimate economic growth.  Donald Trump has to explain that rates have to go up, and when they do, it’s going to burst the bubble, and it’s not going to be fun.  If we are ever going to have a real recovery that’s going to produce a higher standard of living and good paying jobs . . . we are going to have to let this bubble deflate.  That means raising interest rates, and we are going to have to live with the consequences.  That means a collapsing stock market, a collapsing bond market, a collapsing real estate market and failing banks.  It’s a repeat of the 2008 financial crisis–only worse.”
  • Deutsche Bank Collapse: The Most Important Bank In Europe Is Facing A Major ‘Liquidity Event’
    The largest and most important bank in the largest and most important economy in Europe is imploding right in front of our eyes.  Deutsche Bank is the 11th biggest bank on the entire planet, and due to the enormous exposure to derivatives that it has, it has been called “the world’s most dangerous bank“.  Over the past year, I have repeatedly warned that Deutsche Bank is heading for disaster and is a likely candidate to be “the next Lehman Brothers”.  If you would like to review, you can do so here, here and here.  On September 16th, the Wall Street Journal reported that the U.S. Department of Justice wanted 14 billion dollars from Deutsche Bank to settle a case related to the mis-handling of mortgage-backed securities during the last financial crisis.  As a result of that announcement, confidence in the bank has been greatly shaken, the stock price has fallen to record lows, and analysts are warning that Deutsche Bank may be facing a “liquidity event” unlike anything that we have seen since the collapse of Lehman Brothers back in 2008.
  • State Dept: Washington Halts Bilateral Contact With Moscow Over Syria
    According to the US State Department, the US has officially stopped all bilateral contact with Russia on Syria. “The United States is suspending its participation in bilateral channels with Russia that were established to sustain the Cessation of Hostilities,” US State Department spokesperson John Kirby said on Monday. The US will withdraw personnel who were preparing to establish the Joint Implementation Center (JIC). Kirby added that channels will remain open to address air operations over Syria. Kirby also blamed the Russian and Syrian governments for the collapse of the ceasefire, though it was a US strike on Syrian government positions that started renewed fighting.
  • Some Deutsche Bank Clients Unable To Access Cash Due To “IT Outage”
    While it now seems that Friday's rumor of a substantially reduced Deutsche Bank settlement with the DOJ, which sent the stock price soaring from all time lows, was false following a FAZ report that CEO John Cryan has not yet begun the renegotiation process, and in the “next few days” is set to fly to the US to discuss the proposed RMBS misselling settlement with the US Attorney General, Germany's largest lender continues to be impacted by the public's declining confidence, exacerbated over the weekend by a disturbing “IT glitch.” For one, it remains unclear if Friday's report halted, or reversed, the outflow of cash from DB's prime brokerage clients, which as Bloomberg first reported last week was a major catalyst for the swoon in the stock price. However, as UniCredit's chief economist Erik Nielsen notes in a Sunday notes, one thing is certain: “so long as a fine of this order of magnitude ($14 billion) is an even remote possibility, markets worry.”
  • U.K.’s May Unveils Brexit-Day Plan for ‘Great Repeal’ of EU Law
    U.K. Prime Minister Theresa May on Sunday will unveil her most detailed plan yet for the U.K.’s withdrawal from the European Union, saying she’ll repeal a 1972 law that gives direct effect to all EU legislation. The planned “Great Repeal Bill” will abolish the 1972 European Communities Act, while converting all EU laws governed by it into domestic laws on the day Britain eventually completes its EU pullout, May’s Conservative Party said in an statement e-mailed on the eve of the party’s annual conference. The government will then be able to amend and repeal individual laws if deemed necessary.
  • The Complete A To Z Of Nations Destroyed By Hillary Clinton's “Hubris”
    In an email sent to his business partner and Democratic fundraiser Jeffrey Leeds, former Secretary of State Colin Powell wrote of Hillary Clinton, “Everything HRC touches she kind of screws up with hubris.” Clinton’s tenure as Secretary of State during Barack Obama’s first term was an unmitigated disaster for many nations around the world. Neither the Donald Trump campaign nor the corporate media have adequately described how a number of countries around the world suffered horribly from Mrs. Clinton’s foreign policy decisions. Millions of people were adversely harmed by Clinton’s misguided policies and her “pay-to-play” operations involving favors in return for donations to the Clinton Foundation and Clinton Global Initiative.
  • As The Monetary Madness Continues, Here Is A Dire Warning
    “Inflation makes it possible for some people to get rich by speculation and windfall instead of by hard work. It rewards gambling and penalizes thrift. It conceals and encourages waste and inefficiency in production. It finally tends to demoralize the whole community. It promotes speculation, gambling, squandering, luxury, envy, resentment, discontent, corruption, crime, and increasing drift toward more intervention which may end in dictatorship.” — Henry Hazlitt
  • Should You Be Concerned About Bank Runs? Maybe
    Fears of a banking crisis and memories of the 2008 financial crisis are being whispered about on Wall Street today. Hedge funds are reportedly pulling billions out of the German bank Deutsche Bank amid concerns about the lender's stability this week. Can Bank Runs Still Happen? While a true bank run in the United States hasn't occurred since the 1930's, some point to troubled Wachovia Bank in 2008 that faced what bank executives called “a silent run” on deposits. On a Friday in 2008 large depositors began fleeing from Wachovia.
  • ECB Watch – Will the ECB buy equities?
    The ECB stepped up its unconventional policy around the middle of 2014, by taking its deposit rate into negative territory. Early in 2015, it launched a large-scale QE programme focused on public sector bonds. Since then it has added regional bonds and investment-grade credit bonds to the mix. Despite the positive effects on financial conditions, the outlook for growth and inflation remains disappointing. At the same time, there are market concerns that there are not enough bonds available to be bought and that current monetary policy is losing its effectiveness. This has led to questions about what else the ECB can add to its policy mix. In this research note, we consider whether the ECB will turn to equity purchases. We first look at whether equity purchases are possible from a legal and practical perspective and what such a programme could look like. We then go on to assess how effective buying equities would be in boosting equity prices, and hence growth and inflation, drawing on the experience of Japan. Finally, we look at the risks that the ECB would be exposing itself to. We do this in a Q&A format.
  • It’s Not Just Deutsche Bank. The Entire Financial Sector Is Sick
    These are great times for financial assets — and by implication for finance companies that make and sell them, right? Alas, no. Just the opposite. Each part of the FIRE (finance, insurance, real estate) economy is imploding as “modern” finance hits the wall. Interest rates, for instance, have fallen for three decades…
  • What to do to Prepare for Financial Collapse: “Get Out Of Debt. Store. Prep. Cash. Gold.”
    Prepare by balancing debt. Before you max out your credit cards on top notch gear, make sure you can survive the economic conditions that are coming. Mass unemployment. Loss of income. Heavy dependence on assistance. And the biggest strain on the system we can imagine. The United States is once again brought to the brink of collapse. Regardless of how dismissive mainstream voices are on the issue, it is clear that Americas is only a few shades and another crisis away from an all out return to the Great Depression era.
  • Federal Reserve Note Dying and Gold and Silver Recognized
    Some say the U.S. dollar may die 5 days hence. The Chinese renminbi will kill it. Much is being made of plans by the International Monetary Fund (IMF) to add the renminbi to its basket of strategic reserve currencies called Special Drawing Rights (SDR). The IMF will make the change on October 1. While the implications for the Federal Reserve Note, currently the U.S. dollar, as the world’s primary reserve currency may be profound over time and the importance of this even should not be overlooked, the impact is unlikely to happen overnight.
  • Bonds Are a Potential Powder Keg in the “New Normal”
    “Despite low yields on safe assets, investors are reaching for duration rather than risk,” says Jim Puplava. Duration is the overall maturity value of a bond portfolio. Investors are buying bonds with longer maturities because those are the bonds that appreciate the most when interest rates go down. Investors have been accumulating large position holdings in these safe securities because of the rate of return they offer, Puplava added. However, the danger here is that longer maturities mean a greater potential for capital gains AND a greater potential for loss.
  • About That Deutsche “Settlement” Rumor: Cryan Hasn't Even Started Negotiations With The DOJ
    Friday's market session was about one thing: will Deutsche Bank stock close the week ahead of a three day holiday at a record low. It did not because, as we reported, the AFP announced that based on “sources” (most likely from Twitter), the DOJ was willing to reduce the $14 billion settlement that sent DB stock on a rollercoaster ride over the past two weeks, to just under $6 billion. The news unleashed a massive short squeeze relief rally, which sent DB stock soaring on Friday, pushing the entire market up 1%. And while repeated attempts by the likes of Reuters to get additional information from either the DOJ, the German government or Deutsche Bank itself, have proven fruitless, overnight Frankfurter Allegemeine Zeitung reported that Deutsche Bank executives are heading to the United States in the coming days to negotiate the $14 billion settlement over a fine the infamous $14 billion for misselling RMBS.
  • Market Report: Option expiry and Deutsche Bank
    Gold and silver drifted lower over the week, in falls which are commonly accepted to reflect prices being massaged ahead of option expiry on Comex. Gold lost $16 to $1325, and silver, 58 cents to $19.11 in early European trade this morning (Friday). If this sort of thing happened on a regulated market in London, the regulators would be crawling all over the suspected riggers. But hey, it’s America. Putting this behind us, we should focus on the rapidly developing banking crisis in Germany and on its impact on the US dollar. These are separate issues, but they are much intertwined. This week, a collapse of Deutsche Bank was openly discussed in the general media, and there are signs that institutional depositors in wholesale money markets have begun to minimise their exposure. The result is that DB’s shares on Wall Street last night dropped 7% into new low ground and continued this weakness overnight (Thursday/Friday) into the Frankfurt opening in heavy volume.
  • Republicans Slam Clinton for Deutsche Speeches as Firm Slumps
    The Republican National Committee reignited calls for Hillary Clinton to release details surrounding her paid private speeches to Deutsche Bank on Thursday just as the firm's New York-listed shares fell to a record low. Officials from the German-bank, which U.S. regulators slapped with a massive $14 billion fine earlier this month, paid the Clintons $955,000 between 2012 and 2014 for a total of four speeches, according to financial disclosure records. Hillary Clinton was paid $225,000 for an April 24, 2013 speech and $260,000 for an Oct. 7, 2014 speech. Her husband was paid $200,000 for an Oct. 10, 2012 speech and $270,000 for a speech he gave on Aug. 27, 2014.
  • Three reasons why the banking system is rigged against you
    If there were ever any doubt about how completely RIGGED the banking system is against depositors, allow me to introduce the following: Exhibit A: Governments are working to make banks LESS safe. Yesterday an unelected bureaucrat that no one has ever heard of made a stunning announcement that has sweeping implications for anyone with a bank account. Dombrovskis is Europe’s top financial services official, so he controls bank regulations in the European Union. He issued a stern warning to global bank regulators yesterday that he is prepared to reject any further plans they might have to tighten bank capital requirements.
  • Deutsche Bank’s Woes Put $2 Trillion of Bonds Beyond ECB’s Reach
    The troubles of Deutsche Bank AG are making European Central Bank President Mario Draghi’s job more complicated. The surge this week in relatively safe sovereign securities left about a third of the Bloomberg Eurozone Sovereign Bond Index ineligible for purchase under the ECB’s quantitative-easing program. The gains mean $2.2 trillion of debt in the index now yields less than the institution’s deposit rate — currently minus 0.4 percent — and is therefore off-limits.
  • IMF Says Brazil Needs Major Reforms Now, or Recession Will Continue
    The International Monetary Fund sent out a warning to Brazilian lawmakers yesterday, urging the new regime to make the difficult policy decisions needed to rescue the country from its deep recession.
  • Deutsche Bank Paranoia Crosses Atlantic
    It's no secret Deutsche Bank has struggled with U.S. demands to pay $14 billion to settle mortgage claims from the financial crisis. So why did the bank suddenly become the center of attention in U.S. financial markets on Thursday? Mainly because about 10 hedge funds that are Deutsche Bank clients have decided to withdraw some cash and listed derivatives positions from the bank, according to a Bloomberg News report. Listed derivatives positions refer to things like equity options and futures contracts, not the more esoteric over-the-counter contracts that caused so much trouble in the financial crisis.
  • BlackRock: Get Ready for More Fiscal Easing
    Policymakers are changing their tone on fiscal policy. More governments are now looking at fiscal support, and the focus on austerity has faded as monetary easing reaches its limits. The shift away from austerity and the acknowledgement of the need for fiscal and monetary coordination matter for financial markets. In our inaugural Global Macro Outlook, we assess the potential for more fiscal easing in key economies, and gauge the impact on global growth and asset prices.
  • Trucker shortage prompts calls for driverless big rigs 
    America is facing a trucker crisis. As it readies for the busy holiday delivery season, the industry is expecting to be short about 73,000 long-distance drivers, more than three times the shortage of 2005, and that could lead to delivery delays and higher shipping costs. “It's at a point today where it is an operational hardship. It could soon be that at your store, not everything is there that you are accustomed to being there,” said Bob Costello, chief economist and senior vice president of the American Trucking Associations. “This is an industry that has problems finding drivers,” he told the Washington Examiner.
  • U.S. Signed Secret Document to Lift U.N. Sanctions on Iranian Banks
    The Obama administration agreed to back the lifting of United Nations sanctions on two Iranian state banks blacklisted for financing Iran’s ballistic-missile program on the same day in January that Tehran released four American citizens from prison, according to U.S. officials and congressional staff briefed on the deliberations. The U.N. sanctions on the two banks weren’t initially to be lifted until 2023, under a landmark nuclear agreement between Iran and world powers that went into effect on Jan. 16.
  • REPORT: Billionaires Donate More to Hillary Than Trump. WAY More…
    It’s safe to say the majority of leftists despise big business, right? Or at least that’s what they claim. It seems like the left consistently blames capitalism for all of its big business woes. But as it turns out, most of those huge corporations? Yeah, they’re in bed with the government. Democrats in particular. You might say that the two appear to enable one another. In fact, you might even say that there’s not much of a distinction between the two (see Dear Millennial Socialists: Actually, You Hate Big Government, Not Big Business…). Especially thanks to sneaky troglodytes like Hillary Clinton. Due to “pay to play” schemes and government bailouts, business and government stay close friends.
  • Secret Alpine Gold Vaults Are the New Swiss Bank Accounts
    Deep in the Swiss Alps, next to an old airstrip suitable for landing Gulfstream and Falcon jets, is a vast bunker that holds what may be one of the world’s largest stashes of gold. The entrance, protected by a guard in a bulletproof vest, is a small metal door set into a granite mountain face at the end of a narrow country lane. Behind two farther doors sits a 3.5-ton metal portal that opens only after a code is entered and an iris scan and a facial-recognition screen are performed. A maze of tunnels once used by Swiss armed forces lies within. The owner of this gold vault wants to remain anonymous for fear of compromising security, and he worries that even disclosing the name of his company might lead thieves his way. He’s quick to dismiss questions about how carefully he vets clients but says many who come to him looking for a safe haven for their assets don’t pass his sniff test. “For every client we take, we turn one or two away,” he says. “We don’t want problems.”
  • Largest Dutch Bank To Fire Thousands
    One day after Germany's second largest lender confirmed reports of a massive restructuring when it announced it would lay off nearly 10,000 employees, or about 20% of its entire workforce while slashing the bank's dividend for the rest of the year, the Dutch newspaper Het Financieele Dagblad reported that ING Groep, the largest Netherlands lender, will announce thousands of job cuts at its investor day on Monday. The reorganization will result in more central management and may generate billions of euros in savings, the paper said cited by Bloomberg. Raymond Vermeulen, a spokesman for the Amsterdam-based bank, declined to comment on the report. The bank employs about 52,000 people, according to its website.
  • BlackStone Group Says The Market Is The Most Treacherous They Have Seen
    There has rarely ever been another time like this. Not since 1999 and not since 1929 before that, have so many billionaires, central banksters, financial elites and fund managers, warned that we are on the verge of a catastrophic bust. And now, Joe Baratta, Blackstone Group LP’s top private equity deal maker, admits at a WSJ conference this week, “You have historically high multiples of cash flows, low yields. I’ve never seen it in my career. It’s the most treacherous moment.” The most treacherous moment!
  • Commerzbank plans to cut 9,600 jobs
    Germany's second-biggest lender, Commerzbank, is planning to cut 9,600 jobs over the next four years and end dividend payments for the first time. In a statement, the bank said by the end of 2020 it would have “sustainably increased its profitability”. However, the bank also said it aimed to create 2,300 new posts in areas where its business was growing. Commerzbank's strategy for achieving this will be debated by the bank's board on Friday. Last year, it had about 51,300 employees.
  • WARNING: We Are Going To Be Living In An Incredibly Chaotic World
    As the monetary madness continues, some of what you will read below is difficult to comprehend because it seems totally unimaginable. “If you have the power to print money, you’ll do it. Regardless of any ideologies or statements, that you should limit your counterfeit operations to three percent a year as the Friedmanites want to do. Basically you print it. You find reasons for it, you save banks, you save people, whatever, there are lot of reasons to print.” — Murray N. Rothbard
  • Legend Who Oversees $180 Billion Warns World Financial System ‘Is Headed For A Train Wreck’
    On the heels of continued problems at Deutsche Bank, a legend who oversees more than $180 billion warned King World News that the world financial system “is headed for a train wreck.” ric King:  “Rob, the central banks have been insane for some time now but that insanity is escalating. Can you talk about that?” Rob Arnott:  “Of course the Fed did not hike in September.  They have set the stage for what is characterized as a likely hike in December, but who knows? It’s not at all unlikely that they will flinch again.  At the end of last year they were signaling four rate hikes for 2016 and it looks like we might very well finish with zero.  So they talk a little hawkish but do not have the spine to do anything.
  • ECB “Refused To Answer Questions” – “Systemic Threat” Of Deutsche Is “Not ECB Fault”
    The potential collapse of Deutsche Bank and the systemic risk it poses to banks and the European financial and monetary system moved into the German political sphere yesterday. The German government denied it was preparing a rescue of the embattled bank and the Bundestag attempted to ask questions of ECB President Mario Draghi about the causes of the “systemic risks” posed by the bank.
  • Deutsche Bank Charged By Italy For Market Manipulation, Creating False Accounts
    For Deutsche Bank, when it rains, it pours, even when everyone tries to come to its rescue. One day after its stock soared from all time lows, following what so far appears to have been a fabricated report sourced by AFP which relied on Twitter as a source that the DOJ would reduce its RMBS settlement amount with Deutsche Bank from $14 billion to below $6 billion (and which neither the DOJ nor Deutsche Bank have confirmed for obvious reasons), moments ago Bloomberg reported that six current and former managers of Deutsche Bank, including Michele Faissola, Michele Foresti and Ivor Dunbar, were charged in Milan for colluding to falsify the accounts of Italy’s third-biggest bank, Monte Paschi (which itself is so insolvent it is currently scrambling to finalize a private sector bailout) and manipulate the market. Two former executives at Nomura Holdings Inc. and five at Banca Monte dei Paschi di Siena were also charged.
  • Yellen Dodges Questions on Interest Rates and Political Motives
    On Wednesday, Federal Reserve Chairwoman Janet Yellen testified before the House Financial Services Committee on financial regulation. The Fed Chair took criticism from both sides, with Democrats and Republicans criticizing the regulatory body for doing too much and for doing too little. Among the topics was the over-reach of Dodd-Frank, breaking up “too big to fail” firms, and the recent Wells Fargo phony account scandal. However, one important topic side stepped was the impact of low interest rates on any of the problems brought up at the hearing.
  • Mickey Fulp: Gold is Money, That's why I own Precious Metals! – Maurice Jackson
    Mickey Fulp, the Mercenary Geologist, sits down with Maurice Jackson of ‘Proven & Probable‘ to discuss: Current State of the Natural Resource Space, Are we out of the Bear Cycle, What are the catalyst’s, Gold, Silver, Platinum, Palladium, Stewardship of Precious Metals, How much allocation should investors have in bullion, Identifies the difference between bullion and mining companies, Investing Vs. Speculation.
  • Gerald Celente – What Is Happening In The Real World Is Extremely Distressing
    With the world focused on the usual propaganda from the mainstream media, today top trends forecaster Gerald Celente said what is happening in the real world is extremely disturbing. Trend Alert®: Presidential Election will not affect economy. What will?? Gerald Celente —From Asia, to Europe to America, equity markets around the world on Monday swayed in anticipation of who would win the Presidential Reality Show® “debate” between Hillary Clinton and Donald Trump…
  • Look At The Remarkable Flight From The U.S. Dollar
    With continued uncertainty in key global markets, look at the remarkable flight from the U.S. dollar. From Jason Goepfert at SentimenTrader:  Traders are giving up on the dollar. Currency-hedged ETFs have seen some of the biggest outflows among all funds in recent days, and funds that bet on a rising U.S. dollar have seen their assets dwindle to the lowest in years. That usually means limited downside for the buck going forward…
  • There’s currently a $2 quadrillion derivatives bubble, which is about to take down the entire global economy. ($2 quadrillion is 22 times all global GDP combined.)
    All the world’s largest banks are overleveraged on these toxic derivatives contracts: Deutschebank, Goldman Sachs, Wells Fargo, Bank of America, etc. Basically a derivatives contract is like insurance. I always use the example of oil. If an energy company knows it’s going to need oil to run their electricity plant, but the price of oil fluctuates daily, they might want to negotiate a “set-price” [to make it easier for them to build the cost into the accounting models]. Such an energy company might go to Goldman Sachs and say, “Can you negotiate with Saudi Arabia to give us a stable price?” Whereupon Goldman Sachs creates an insurance contract, locking in a spot-price of, say, $100 a barrel. No matter where the international price goes, Goldman Sachs is now contractually obliged to deliver the oil at that price. But what if oil plunges from $100 to $20 a barrel? Goldman Sachs has to eat $80 for every barrel sold. (And that’s just what happened.) So Goldman Sachs, that has $900 billion in assets, now owes $54 trillion on these derivatives contracts.
  • FBI Docs: Hillary Deleted Nearly 1,000 Emails With David Petraeus
    A potentially explosive nugget from the FBI's Friday document dump of investigatory notes from the Clinton email probe has been all but ignored by the media. And that is the revelation that Hillary Clinton deleted 1,000 work-related emails between herself and General David Petaeus from his time as the director of the United States Central Command.
  • How October Could Signal a Stock Market Collapse
    You’re probably unaware that the apocalypse is fast approaching. Indeed, it’s almost here. And how does the apocalypse manifest itself? As a Chinese financial takeover of the world: The Chinese renminbi soars; the U.S. dollar sinks, thus relinquishing its reserve-currency status; the U.S. stock market, with its assets denominated in dollars, collapses. Kick-off is this Saturday. I’ve actually been privy to this short-and-tidy rendition of doom and gloom for some time now. A stock-trading acquaintance of mine, who I’ll call Matt (because that’s his name), is always sure to remind me of impending doom and gloom every time we meet, approximately twice weekly. How does he know doom and gloom is impending? The surfeit of gold-hoarding, run-for-the-hills financial publications that feed his biases.
  • The countries where cash is on the verge of extinction
    My dad, a former Wall Street trader always advised me “cash is king” and to “hold on to it” when the economy gets tough. But in the Netherlands, cash is definitely not getting the royal treatment. In so many places, it has simply ceased to be recognised as legal tender. More and more Dutch stores, from upscale health-food store Marqt to my local baker and bagel shop, take pin — or debit — cards exclusively. Some retailers even describe going cash-free as “cleaner” or “safer”. Tucking my debit card firmly away, I decide to see how far a bundle of cash will get me. Not far. The big-ticket items are strictly cashless affairs: my rent and my telephone bill among them.
  • Stocks Soar After French Press “Confirm” Deutsche Bank Near Settlement With DOJ
    Seemingly confirming the rumor, Agence France Press reports that Deutsche Bank is nearing a $5.4 billion settlement with the US Justice Department. This has catalyzed another leg higher in Deutsche Bank stock and lifted the whole market as it would appear that unconfirmed sources have ‘fixed' the world's most systemically dangerous bank (despite the fact that short-dated counterparty risk is soaring).
  • Deutsche Bank Hangs By A Thread On Eve Of Jubilee
    Nearly a year ago to the day, on September 28th, we wrote “Will Deutsche Bank Be This Cycle’s Lehman Brothers?” In it we asked, “In 2008, the financial crisis was set-off by the collapse of Lehman Brothers.  Could this year’s crisis be caused by a collapse of Deutsche Bank?” The day after the end day of the Shemitah in 2015, on September 14th, Deutsche Bank announced that it was laying off 23,000 employees, about 25% of its workforce. At the time, it was trading around $26 per share. Now, on the eve of the end of the Jubilee Year, Deutsche Bank was down another 7% on Thursday and is now at an all-time low near $11.50.
  • World Trade Collapsing On Schedule
    The World Trade Organization (WTO) has warned that there is a “dramatic slowing of trade growth” unfolding. The WTO has revised downward its projections, saying trade is now on track this year to grow at the slowest pace since 2009. The hunt for taxes is destroying the world economy and on January 1, 2017, all governments will begin sharing info on foreigners. The assumption is that anyone doing anything outside the USA is hiding money from taxes. With this attitude, world trade will continue to collapse into 2020.
  • Bix Weir – Final Collapse is Happening Now
    Bix Weir joined the show today. Deutsche Bank is imploding before our very eyes. Their bonds will soon be worthless and no one is coming to their rescue. Bix thinks it’s the end of the world economic system as we know it, and it can’t come soon enough for Bix. There’s nothing that can save it now. According to Bix the end is imminent, so buckle your seat-belts and be prepared.
  • Pastor Lindsey Williams introduces Pastor David Bowen – September 29, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his new 10 minute weekly video for readers of Pastor Williams’ weekly newsletter.
  • Deutsche Bank's seesaw shares bounce back amid rumours stricken bank is close to a cut price fine over sale of toxic mortgages
    A report that Germany's largest bank is close to a cut-price fine deal with American authorities over the sale of toxic mortgage bonds has helped boost its share price. Deutsche Bank, which employs about 100,000 people, has been engulfed by crisis after being handed a demand for up to $14 billion earlier this month by the Department of Justice for mis-selling mortgage-backed securities. The bank is fighting the fine but would have to turn to investors for more money if it is imposed in full. The German government this week denied a newspaper report that it was working on a rescue plan for the bank.
  • Here’s How the Government Is Turning the Entire United States into a Debt Prison
    Since the United States was founded, citizenship has represented a safe haven from oppressive regimes around the world. By preserving the principles of small government and free markets, those who were willing to work hard found success, and America became a magnet for innovation. But as the U.S. continues to erode personal and economic freedom, more people than ever before are handing over their U.S. passports to seek better opportunities abroad.
  • ‘Partnership on AI' formed by Google, Facebook, Amazon, IBM and Microsoft
    Google, Facebook, Amazon, IBM and Microsoft are joining forces to create a new AI partnership dedicated to advancing public understanding of the sector, as well as coming up with standards for future researchers to abide by. Going by the unwieldy name of the Partnership on Artificial Intelligence to Benefit People and Society, the alliance isn’t a lobbying organisation (at least, it says it “does not intend” to lobby government bodies). Instead, it says it will “conduct research, recommend best practices, and publish research under an open license in areas such as ethics, fairness and inclusivity; transparency, privacy, and interoperability; collaboration between people and AI systems; and the trustworthiness, reliability and robustness of the technology”.
  • The era of robots: thousands of builders to lose jobs as machines take over, says construction boss
    Skyscrapers in the City of London could soon be built by robots rather than by people, according to the boss of one of the UK’s biggest construction firms. The result would be huge productivity gains as more work could be done by fewer people – but also mass layoffs as traditionally labour-intensive construction projects hire fewer and fewer staff. “We’re moving into the era of the robots,” said Alison Carnwath, the chairman of Land Securities, the £8.2bn FTSE 100 construction company.
  • US Central Bank Chair: Blockchain Could Have ‘Significant' Impact
    During an appearance before a House of Representatives committee hearing today, Federal Reserve chairwoman Janet Yellen remarked that the US central bank is “trying to understand” financial technologies like cryptocurrencies and blockchain. Yellen was speaking before the Committee on Financial Services, during which she was asked by Rep. Mick Mulvaney about the Fed’s position on cryptocurrencies and whether it investigating internal applications of blockchain. While Yellen said that the Fed wasn’t doing so, she did indicate that the US central bank was pursuing lines of inquiry within the broader context of fintech. However, she did remark that blockchain tech could have a major impact on payments and banking in the future.
  • Treasuries Gain as Deutsche Bank Contagion Fear Fuels Haven Bid
    Treasuries rallied, reversing earlier losses, as traders sought haven assets on reports that some Deutsche Bank AG clients are pairing back their exposure to the beleaguered German lender. Treasury 10-year yields fell one basis point, or 0.01 percentage point, to 1.56 percent as of 2:43 p.m in New York, according to Bloomberg Bond Trader data. The price of the 1.5 percent security due in August 2026 climbed to 99 13/32. Traders bid up traditional quality assets including Treasuries, gold and the yen after a Bloomberg News report said some funds that clear derivatives trades with Deutsche Bank had withdrawn some excess cash and positions held at the bank. Investors fled financial securities amid concern the Frankfurt-based bank’s woes could spread to counterparties, damping Europe’s fragile economic recovery.
  • This Is How Much Liquidity Deutsche Bank Has At This Moment, And What Happens Next
    It is not solvency, or the lack of capital – a vague, synthetic, and usually quite arbitrary concept, determined by regulators – that kills a bank; it is – as Dick Fuld will tell anyone who bothers to listen – the loss of (access to) liquidity: cold, hard, fungible (something Jon Corzine knew all too well when he commingled and was caught) cash, that pushes a bank into its grave, usually quite rapidly: recall that it took Lehman just a few days for its stock to plunge from the high double digits to zero. It is also liquidity, or rather concerns about it, that sent Deutsche Bank stock crashing to new all time lows earlier today: after all, the investing world already knew for nearly two weeks that its capitalization is insufficient.
  • “It’s A Lot More Negative Than People Think” – China Beige Book Issues Stark Warning About The Economy
    While China's excess debt problems have been extensively documented, the overall economy appears to also be slowing substantially as a result of the decline in the most recent credit impulse, noted as recently as one week ago when we reported that “Chinese Loan Demand Dropped To All Time Low.” Overnight, the latest warning about China's economy came from the authors of the China Beige Book, a quarterly survey that tracks the world’s second-largest economy, who said that recent stability in the Chinese economy masks deep-seated problems that threaten to rattle global markets in advance of a leadership change next year, and added that ignoring these risks is shortsighted.
  • General Collateral Rate Surges To Highest Level In 7 Years
    In what may be an indication of a major collateral shortage, but most likely is simply a case of quarter-end “window dressing”, the overnight general collateral rate soared to 0.82% this morning, its highest print in nearly seven years, and roughly where it would trade if the Fed had hiked in September. GC soared to 0.85% yesterday afternoon yesterday after opening at around 0.68%. As SMRA points out, the GC rate often spikes as quarter end approaches. The early morning fed funds rate is at 0.40% this morning, unchanged from 0.40% yesterday. Both the effective fed funds rate and overnight bank funding rate were in line with the fed funds rate at 0.40% on Monday, unchanged from the prior couple weeks.
  • PANIC As Margin Calls Begin: Deutsche Bank Has Financial System On The Cusp Of Collapse
    DB stock is now in a full panic sell-off as I write this.  It just hit another new all-time NYSE low on by the heaviest volume ever in the stock since its 2001 NYSE listing.  It’s currently down almost 10%.  No doubt the Central Banks will try to bounce it. Deutsche Bank may well be the scapegoat this time around just like Lehman was the scapegoat in 2008. Central Banks in collusion can prevent just one bank from collapsing. It was the co-collapsing of AIG and Goldman Sachs that prompted then-Secretary of Treasury, ex-Goldman CEO Henry Paulson, to put in motion the bailout of the U.S. and European banking system.
  • Draghi Lays Blame for European Banks’ Woes on Industry Behavior
    Mario Draghi said the financial industry must stop blaming the actions of central banks for their problems and focus on fixing internal management and risk failings. “Many banks have problems that don’t have primarily to do with the low level of interest rates but possibly with other reasons,” the European Central Bank president said after a meeting with German lawmakers in Berlin on Wednesday. He cited business models and risk management and said this was “generally acknowledged” by those at the talks.
  • Yuan in October 1st will be officially “into the basket” SDR what is the impact?
    The international monetary fund strategy policy and evaluation department said in a conference call, adding SDR RMB currency basket has milepost sense, persistent China responded to the reform measures have been confirmed and strengthened. During the conference call, a spokesman for the International Monetary Fund said it was working with the Chinese side to carry out the final cooperation with the Chinese side, in order to ensure the final preparations for the international circulation of RMB after the entry into the basket. China's central bank and the major financial institutions have been well prepared in the past year, the International Monetary Fund has also set up a good circulation platform for RMB and new management architecture in the world.
  • Obama Humiliated: For The First Time, Congress Votes To Override President's “Sept 11” Bill Veto
    US Congress, first the Senate and then the House, humiliated the president when it voted on Wednesday to override Obama for the first time in his eight-year tenure, as the House rejected a veto of legislation allowing families of terrorist victims to sue Saudi Arabia. The House easily cleared the two-thirds threshold with a 348-77 vote to push back against the veto. The Senate voted 97-1 in favor of the override earlier in the day, with only Democratic Leader Harry Reid voting to sustain the president’s veto.
  • The Run Begins: Deutsche Bank Hedge Fund Clients Withdraw Excess Cash
    Deutsche Bank concerns just went to '11' as Bloomberg reports a number of funds that clear derivatives trades with Deutsche Bank AG have withdrawn some excess cash and positions held at the lender, a sign of counterparties’ mounting concerns about doing business with Europe’s largest investment bank. While the vast majority of Deutsche Bank’s more than 200 derivatives-clearing clients have made no changes, some funds that use the bank’s prime brokerage service have moved part of their listed derivatives holdings to other firms this week, according to an internal bank document seen by Bloomberg News.

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Latest News Articles – September 29, 2016

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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Lindsey Williams - Latest News Articles

Latest News From September 23, 2016 to September 29, 2016:

  • The Biggest Monetary Transformation Since WWII
    Every 30 to 40 years the world has a new monetary system. And the global dollar standard is the worst design of all these systems — yet it’s 45 years old. It’s way overdue for its own demise. And when this one crumbles, everyone is going to feel it.
  • Major Dollar Shortage Exposed In Europe As Deutsche Bank Contagion Spreads
    “Storm in a teacup” this is not. While global markets remain calm(ish), distracted by OPEC headlines, US election ‘entertainment', and Middle East proxy wars, the reality is, something very ugly is accelerating in Europe. With the collapse of the “most systemically dangerous bank in the world” we should hardly be surprised, but Deutsche Bank's crash is being shrugged off by average joes on mainstream media… and besides, the central banks will save us, right? Well, Deutsche contagion is spreading… rapidly. Since Deutsche's recent highs, the short-end of the EUR-USD basis swap curve has collapsed…
  • As Jubilee Nears, Martial Law Rolls Out Across The US
    This is not going away with the end of the Jubilee Year in October or even with the end of 2016.
    It’s just getting started… As we enter into the last week before the end of the Jubilee Year, the National Guard has been deployed in Charlotte, North Carolina and massive military convoys have been deployed in the streets of New York City. This is a continuation of last summer’s Jade Helm seven-state military exercise that many in the area saw as a prelude to military occupation. After Jade Helm came the US Army Special Operations Command’s Unconventional Warfare Exercise 16 (UWEX 16) that ran in Texas through June.
  • Jim Willie: If Deutsche Bank Goes Under It Will be Lehman TIMES FIVE!
    A bank failure contagion, that’s whats going to push the price of gold WAY over $2,000/oz again. The Price of Silver is going to be moving over $100 and the price of gold is going over $5,000… A failure of Deutsche Bank would trigger a systemic banking contagion the likes of which the Western world has never seen…
  • Famous Last Words – Deutsche Bank: “We Don’t Need A Bailout”
    “[The] share price is low but that is not what is worrying us and that is not what we are looking at. What is really important to us is our credit story which is very strong, it is fundamentally strong.” – Jorg Eigendorf, head of communications at DB on CNBC (sourced from Zerohedge). “The credit story is strong?”  To begin with, I’m not sure what the head of communications is doing on bubblevision talking about “credit.”  If he understood the meaning of the words he was regurgitating from script, he would not have made that statement if he were under oath.
  • Insider Warren Buffet Knows A Massive Crash Is Coming: “Has $70 Billion On The Sidelines… Clearly Anticipating The Biggest Buying Opportunity Of His Life”
    With the U.S. stock market near all-time highs and financial pundits touting the miracles of economic recovery, investors would have to be totally insane to not be snapping up as many stocks as they can get their hands on. But if America’s economy is doing so well, why are billionaires and major investment firms warning of rough waters ahead? Even Warren Buffet, the Oracle of Omaha, known for his investing acumen and foresight, appears to see the writing on the wall. Having made billions in the fallout of the 2008 crash by taking advantage of lucrative government machinations, Buffet now looks to be positioning himself for a very massive buying opportunity. According to analyst Jeff Nielsen, the head of one of the largest investment companies in the world isn’t invested as heavily into stock markets as you may think. In fact, Nielsen says in his latest interview with SGT Report that Buffet has over $70 billion sitting in cash on the sidelines. And that can mean only one thing: Buffet knows a crash is coming and he is waiting for perhaps the biggest buying opportunity of his lifetime.
  • Germany ‘prepares Deutsche Bank rescue'
    The German government and financial authorities are working on a rescue plan for Deutsche Bank in case it cannot pay fines in the US, according to Die Zeit newspaper. Germany's biggest lender is facing a $14bn (£10.8bn; €12.5bn) bill for mis-selling mortgage-backed bonds before the financial crisis of 2008. In the worst-case scenario, the government would even take a 25% stake in the bank, according to the article. Deutsche Bank has denied the report.
  • Deutsche Bank Is Going Under: Is The Real Reason Germans Were Told To Prepare For A National Crisis?
    There is a very real possibility that Deutsche Bank is going down. If the most prominent bank in Germany fails, the effect on Europe will be profound, and I don’t think the United States will escape the effects. The ripples will turn into a tsunami as they travel across the Atlantic. Already, the bank’s troubles have stressed the American stock market. Angela Merkel has stated that Deutsche Bank will not be getting a bailout from the European Central Bank – the lender of last resort for European banks. The Department of Justice recently issued a $14 billion fine to the bank to settle a mortgage-backed securities probe…and the bank has no intention of paying.
  • Euro “Might Start To Unravel” If Deutsche Bank Collapse
    The euro “might start to unravel” if Deutsche Bank collapses according to respected financial journalist Matthew Lynn. “It all has a very 2008 feel to it …” he warns in the Telegraph where he outlines his growing concerns about Deutsche Bank, concerns we have written about in recent months. He writes: Our image of German banks, and the German economy, as completely rock solid is so strong that it takes a lot to persuade us they might be in trouble.
  • ‘Something Very Serious Transpired' Between Russia and US Over Syria
    The current “level of violence in verbal attacks” on Russia at the UN is unprecedented,” Gilbert Doctorow, European Coordinator for the American Committee for East West Accord told Radio Sputnik, adding that this seems to indicate that something grave must have happened between the two countries with regard to Syria behind the scenes. The United States and Russia have lashed at each other over the Syrian conflict, with Washington and Moscow trading blows at the urgent UN Security Council meeting on Sunday.
  • As they left the White House, the Clintons Defaced Walls, Stole Furniture and Much Much Worse
    In 2001, the Clintons were moving out of the White House to make way for the Bush Administration. Not only did the Clintons steal furniture on their way out of the White House, but they did something far worse. It’s yet another reason why they should not be allowed to step foot in the White House AGAIN! Besides the stolen furniture, Hillary Clinton and her lackeys defaced walls, stole a presidential seal dating back to the Eisenhower years, damaged furniture they deemed not expensive enough to take, and left a huge mess in the offices, making it look like a rave party had taken place there.
  • Dangerous Bubbles In Plain Sight
    Jesse Felder published an incisive bubble finance chart over the weekend. It is yet another reminder that Janet Yellen and her merry band of money printers are oblivious to the dangerous speculation and valuation excesses that their policies have implanted throughout the financial system. Relative to disposable income, the value of household financial assets now far exceeds the last two bubble peaks. And that has happened in an economic environment which suggests just the opposite. To wit, valuation multiples and cap rates should be falling owing the fact that the productivity and growth capacity of the US economy has been heading south ever since the turn of the century.
  • The Global Housing Bubble Is Biggest In These Six Cities
    One year ago, when UBS last looked at the world's most expensive housing markets, it found that London and Hong Kong were the only two areas exposed to bubble risk. What a difference a year makes, because in the latest report by UBS wealth Management, which compiles the bank's Global Real Estate Bubble Index, it found a new champion for the title of “world's biggest housing bubble”, namely a familiar name, Vancouver, but also that as many as six cities had made the “bubble” category, up from last year's two. Of last year's two “winners”, London has been knocked into second place this year, and Hong Kong sixth, but both are still in bubble-risk territory.
  • The Donald Nailed It: “We Are In A Big Fat Ugly Bubble”
    Most of the 90 minutes last night was a waste—with both candidates lobbing well-worn clichés, slogans and sound bites at the audience and each other. But there was one brief moment that made it all worthwhile. That was when Donald Trump peeled the bark off the Fed’s phony recovery narrative and warned that the stupendous stock market bubble it has created will come crashing down the minute it stops pegging rates to the zero bound.
  • Deutsche Curve Inverts As Bundesbank Dismisses State Support Of “Zombie” Banks
    Deutsche Bank Sub CDS closed above 500bps for only the second day in its history (and the longer-term CDS curve inverted once again) as a bad day ended worse with Bundesbank member Andreas Dombret exclaimed “state support of banking sector must end,” warning that it only “props up zombie banks.” His pronouncements also pushed politicians to make the hard decisions and “tell banks they need structural reform.” As Bloomberg details, “Political support for the banking sector has to end at last,” Bundesbank board member Andreas Dombret says in text of speech in Vienna. “Unfortunately I’m only seeing this to a limited extent.”
  • The Stunning Roadmap To $26,000 Gold
    With many investors worried about the economic turmoil that has engulfed the globe, is gold headed to $26,000? The Stunning Roadmap To $26,000 Gold. Stephen Leeb:  “The Fed’s decision this past week to hold rates steady was no surprise. After all, going into the confab, the odds of a hike had been put at around 20 percent. And only two of the 23 market makers in government securities had any expectation rates would rise, and even those two said they weren’t really sure. Still, the markets exhaled, and a two-day rally in stocks, gold, and commodities followed, though it petered out by Friday…
  • John Embry Warns Global Implosion Edges Closer
    As we get ready to head into what may well be a very interesting October for global markets, today John Embry warned King World News that we are edging closer to the ultimate global implosion. John Embry:  “Eric, as I watch the unfolding economic and financial saga unfolding globally, I’m reminded of the famous quote from Hemingway’s The Sun Also Rises.  When asked, how did you go bankrupt?  One of the protagonists responded: “Gradually, then suddenly.”…
  • Standing on House of Cards-Jonathan Cahn
    Rabbi Jonathan Cahn, a Messianic Jew, is out with a third best-seller in a row called “The Book of Mysteries.” In the “Harbinger,” he has said things like the attack on America on 9/11 was a warning.  Now, Cahn is out with some new warnings.  On the economy, Cahn says, “We are still on a house of cards, standing on a house of cards. There’s debt, and all the propping up, and actually, since the Shemitah of 2008, the world economy has never recovered.  It’s been paralyzed.  The growth has been paralyzed since 2008, and that’s with all the lowering of rates, which means we have no room for anything . . . . We are in the most dangerous months of the stock markets. . . .  We are right now . . . in the period following the seventh Shemitah, which is the Jubilee period.  It doesn’t have to happen, but it means the same dynamics (market crash) can happen as well into this period.  There is a principle in the Bible that is linked to this . . . it says that if a nation follows God, it’s going to be lending to many nations and not borrowing.  That is a sign of God’s favor.  America has been the greatest creditor nation in history, but that changed as America has been falling away from God.  This goes with the harbingers, and that has not stopped either. . . . As America continues to rapidly accelerate away from God, at the same time, America turned from the greatest creditor nation to the greatest debtor nation.”
  • China debt could wreck the global economy: Leading economist warns country could suffer a calamitous slowdown
    China poses the biggest threat to the global economy as its debts soar, according to a leading economist. Ken Rogoff, the former chief economist at the International Monetary Fund, said the country could suffer a calamitous slowdown – dragging the rest of the world down with it. A so-called ‘hard landing' in the world's second biggest economy, where growth drops to dangerously low levels, would be a disaster for other countries including Britain. China is the UK's sixth biggest export market with sales of goods made in British factories to the People's Republic jumping from £877million in 1998 to £15.5billion in 2014.
  • Deutsche Bank Stock Crashes Near Single-Digits As CDS Spike To Record Highs
    The “most systemically dangerous bank in the world” is in grave trouble. Despite exclamations that there is “no need for additional capital” and that “Deutsche Bank is no Lehman” investors are fleeing the bank's assets en masse as professionals pile in to buy counterparty risk protection. With the only thing standing between bank runs and stability being the confidence of depositors, and knowing full well that everybody lies when it gets serious, one witty trader noted, “if it walks like Lehman, and talks like Lehman… it is Lehman.”
  • IMF and WTO issue alerts on global trade
    It is the kind of headline that sends a shiver through economists' spines: “Global trade growth hits new low.” After all, over the past few decades, economic growth has been closely correlated with trade flows. And on the occasions throughout history when trade growth has plunged – in the 1930s, for instance, or the 2008 financial crisis – it has prefigured deeper problems with the world economy.
  • Harvard Professor Demands Ban On $20, $50, $100 Bills
    Six months since Larry Summers first suggested “it's time to kill the $100 bill,” and three months after The ECB actually killed the €500 Note, another Harvard scholar is reinvigorating the war on cash. Amid claims that paper money fuels corruption, terrorism, tax evasion, and illegal immigration, Ken Rogoff (ironically of “It's Different This Time” infamy) says the US should get rid of the $100 bill (and $50s and $20s) proposing, in his words, “a ‘less-cash' society, not a cashless one, at least for the foreseeable future.” According to the esteemed ivory tower academic, paper currency lies at the heart of some of today’s most intractable public-finance and monetary problems. As Rogoff explains in The Wall Street Journal, getting rid of most of it – that is, moving to a society where cash is used less frequently and mainly for small transactions – could be a big help.
  • Washington Tries to Break BRICS – Rape of Brazil Begins
    Washington’s regime change machinery has for the time being succeeded in removing an important link in the alliance of large emerging nations by railroading through a Senate impeachment of the duly elected President, Dilma Rousseff. On August 31 her Vice President Michel Temer was sworn in as President. In his first speech as president, the cynical Temer called for a government of “national salvation,” asking for the trust of the Brazilian people. He indicated plans to reform, and has also signaled his intention to overhaul the pension system and labor laws, and cut public spending, all themes beloved of Wall Street banks, of the International Monetary Fund and their Washington Consensus. Now after less than three weeks at the job, Temer has unveiled plans for wholesale privatization of Brazil’s crown jewels, starting with oil. The planned Wall Street rape of Brazil is about to begin.
  • Party Loyalty Can’t Make Me Vote for Clinton
    I have been steeped in the Democratic Party all my life. My father, Jerry, was a New York City Democratic chairman and power broker, and I grew up in and around the Democratic Party. When I was a young man, former senators and Democratic presidential and vice-presidential nominees Hubert Humphrey and Estes Kefauver stayed at my apartment and we would proudly discuss the great traditions of the Democratic Party. My father was a pallbearer at St. Patrick’s for Bobby Kennedy’s funeral. When I was young, Robert F. Kennedy and John F. Kennedy were (and remain) my political heroes. Four years ago, former New York Gov. and liberal lion Mario Cuomo spoke at my father’s funeral. I think his son, current Gov. Andrew Cuomo, is a very effective leader.
  • Switzerland votes in favour of more government surveillance amid fear of terror attacks
    Swiss voters have approved a bill which give their security services more power to eavesdrop on its citizens. A proposed law was approved by 65.5 per cent of those who voted in the referendum, results on Sunday showed. The law grants the Swiss police and intelligence services the right to tap phones and communications of a suspect with the permission of the federal court, the defence ministry and the cabinet – something that has been banned in the country unlike many of its European neighbours.
  • Saudi Arabia Bails Out Banking System After Interbank Rates Hit 2009 Highs
    Amid what some might call self-inflicted economic collapse, Saudi Arablia has announced a $5.3 billion bailout of its banking system as interbank borrowing rates near the highest since Lehman. In what the supposedly central bank calls “supportive monetary policy…on behalf of government entities,” is easing liquidity constraints with 28-day repo agreements and is the second liquidty injection this year. While Saudi default risk has fallen – as the entire world has been liquified in recent months – it remains worse than Mexico, Russia, and South Africa.
  • Germany Goes There: “You Can't Compare Deutsche Bank To Lehman”
    “When it's important, you have to lie,” is the now well-known mantra from European leaders when the crisis hit. So when a German politician proclaims “you can’t compare Deutsche Bank with Lehman. The bank is in a position to get out of this situation on its own,” it's time to panic. Just a week after the 8th anniversary of Lehman's collapse, the multi-trillion dollar derivative book of Deutsche Bank dwarfs that of Lehman… and the credit markets are starting to wake up again.
  • Global debt climbs towards fresh high as companies and countries keep on borrowing
    Global debt issuance is on course to hit a record high in 2016 as figures showed sales this year topped $5 trillion (£3.9 trillion) at the end of September. Debt issuance rose to $5.02 trillion in the nine months to September 22, according to Dealogic, putting 2016 on course to beat the all-time high of $6.6 trillion recorded in 2006. Record low interest rates have encouraged countries and companies to issue debt as central banks around the world try to stimulate growth.
  • Chinese Contagion Risks Surge: Banks' Reliance On Each Other For Funding Hits All Time High
    It's getting increasingly more difficult for China to deny its massively overindebted reality. The latest striking confirmation that things in the world's former growth dynamo are deteriorating rapidly, come yesterday from none other than PBOC advisor Huang Yiping, who during a speech in Beijing said that China's “deleveraging isn't making progress” and that the “high leverage ratio is becoming a big financial problem for the country” noting that the household leverage ratio has “surged sharply in China.” Adding something ZH readers have known for the past year, Yiping said that “mining and property sectors have the highest leverage ratio” in the country and while the M2/GDP ratio is “not the best gauge to measure leverage for China” he notes that the “leverage ratios in state-owned companies have kept growing since 2008.” None of this is a secret: one look at the chart below from the IIF according to which China's gross leverage is now roughly 300% of GDP, confirms just that.
  • Why Deutsche Bank’s Shares Are at a Record Low: QuickTake Q&A
    Deutsche Bank AG, Germany’s largest bank, has been in the spotlight for months as Chief Executive Officer John Cryan struggles to reorganize the business in the face of tougher capital standards, negative interest rates and soaring legal bills. Shares fell to an all-time low on Monday amid escalating concerns over the future of the bank, one of the world’s most systemically important financial institutions.
  • Germany Will Rescue Deutsche Bank If Necessary, Allianz Says
    The German government will have to bail out Deutsche Bank AG if its financial situation gets bad enough, Allianz Global Investors AG Chief Investment Officer Andreas Utermann said. “I don’t buy at all what’s coming out of Germany in terms of Germany not wanting to step in ultimately if Deutsche Bank was really in trouble ,” Utermann said Monday in a Bloomberg Television interview with Francine Lacqua and Tom Keene. “It’s too important for the German economy.”
  • “It All Has A Very 2008 Feel To It” – For Deutsche Bank, The News Just Keeps Getting Worse
    It has already been an abysmal day for Germany's biggest lender: overnight Deutsche Bank plunged to fresh all time lows on speculation whether the German government would or wouldn't provide state aid to the bank (if needed), forcing the bank to state it does not need the funds at the same time as the government urged markets that “you can't compare” Deutsche Bank and that “other” bank, Lehman Brothers, although looking at the chart, one may beg to differ.
  • A Crashing Deutsche Bank Scrambles To Assure Markets That It Is “Fine”
    With Deutsche Bank stock plunging to fresh all time lows in early trading after Merkel reportedly ruled out state aid the embattled German lender, the bank found itself in the unenviable position of once again having to defend its balance sheet to avoid further stock price declines, especially as doubts mounted if the German government response was due to a pre-emptive request for aid.  DB quickly tried to squash such speculation when a bank spokesman said that  “CEO John Cryan at no point asked the German Chancellor for the government to intervene in the U.S. Justice Department's mortgages case.” He added that Deutsche Bank will solve its problems without relying on help from Berlin, Germany's flagship lender said on Monday. The market remains unconvinced: shares in Germany's biggest bank hit a record low of 10.62 euros on Monday…
  • Merkel Rules Out Bailout For Deutsche Bank: Depositor Bail-In Coming Up?
    The €42 trillion (notional) derivatives mess known as Deutsche Bank remains under severe pressure. Its market cap is $17 billion. It has no earnings and pays no dividend. On April 23, Deutsche Bank was Fined $2.5 Billion over LIBOR rate rigging. Twenty-one people face criminal charges following a seven-year investigation. On September 16, the US Department of Justice Fined Deutsche Bank $14B for mortgage securities fraud leading up to the 2007-2009 global meltdown. Today, German Chancellor Angela Merkel Ruled Out Assistance for Deutsche Bank.
  • As China prepares to announce their gold reserve amount by end of the month, debate over gold backed Yuan increases sharply
    As part of their requirements to enter into the SDR basket of currencies in October, China will soon be revealing the quantity of their gold reserves sometime between now and Sept. 30.  And with them also recently being appointed the managers of the M SDR internationalization program, debate over China implementing a gold backed currency is once again increasing at an accelerating rate. At the heart of the discussion is how China is using their growing geo-political power to integrate 3rd world nations, especially those in Africa, in moving forward despite not having the economic finances to expand their infrastructure base.  And to date this has been shown to be moderately successful in a myriad of different ways, and could be the catalyst for catapulting a gold backed Yuan using their growing alliances and Silk Road strategies to envelop a large portion of the world under a financial umbrella that would be impervious to U.S. and Western subjugation.
  • New World Order Mouthpiece Warns We Are on Verge of Greatest Debt Jubilee in History
    “Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion … Damaging deflationary spirals cannot be ruled out”. This grim assessment comes from an article posted at Telegraph.co.uk, that quotes a  recent annual UN “Conference on Trade and Development” report. The article is entitled, “UN fears third leg of the global financial crisis – with prospect of epic debt defaults,” The writer’s name is Ambrose Evans-Pritchard and he’s one of Britain’s most prominent journalists, known for his hard-hitting reporting. He’s also the editor of the International Business section of the Daily Telegraph.
  • German Politicians Are Getting Nervous About Deutsche Bank
    Just a few short days after Germany's premier financial publication Handelsblatt dared to utter the “n”-word, when it said that in the aftermath of last week's striking $14 billion DOJ settlement proposal, “some have even raised the possibility of a government bailout of Germany’s largest bank, which would be a defining event and a symbolic blow to the image of Europe’s largest economy”, German lawmakers are finally starting to get nervous. According to Bloomberg, Deutsche Bank’s suddenly troubling finances, impacted by the bank's low profitability courtesy of the ECB's NIRP policy as well as mounting legal costs courtesy of years of legal violations, “are raising concern among German politicians.” At a closed session of Social Democratic finance lawmakers on Tuesday, Deutsche Bank’s woes came up alongside a debate over Basel financial rules. Participants discussed the U.S. fine and the financial reserves at Deutsche Bank’s disposal if it had to cover the full amount.
  • Living In A Van Down By The River – Time To Face The True State Of The Middle Class In America
    Do you remember the old Saturday Night Live sketches in which comedian Chris Farley portrayed a motivational speaker that lived in a van down by the river?  Unfortunately, this is becoming a reality for way too many Americans.  As the middle class has shrunk and the cost of living has increased, a lot of people have decided to quite literally “live on the road”.  Whether it is a car, a truck, a van, a bus or an RV, an increasing number of Americans are using their vehicles as their homes.  Just recently, someone that I know took a trip down the west coast of the United States and stayed at a number of campgrounds along the way.  What she discovered was that a lot of people were actually living at these campgrounds.  Of course there are some that actually prefer that lifestyle, but many others are doing it out of necessity. Earlier this week, Circa.com posted a story about “the van life”.  One of the individuals that they featured was a recent graduate of the University of Southern California named Stephen Hutchins.  Without much of an income at the moment, he decided that the best way to cut expenses was to live in his van…
  • Monte Paschi Rescue On The Rocks: Regulators Now “Expect Bank To Ask Italy For Bailout”
    Ever since two months ago, when Italy's third largest bank – and the world's oldest – Sienna's Monte dei Paschi, failed Europe's latest stress test, it had scrambled, and assured markets, that it would obtain a private sector cash injection, aka bailout, amounting to roughly €5 billion in fresh capital, there was significant speculation in the Italian press that the capital raise was not going well as third party investors were uncomfortable to allocate funds to a bank whose history of failure and unprecedented bad NPL book remained a daunting obstacle. The reason why Monte Paschi was forced to seek a private sector bailout is that Germany had repeatedly shut down Italian PM Matteo Renzi's attempts to pursue a public sector bailout. Instead, the Germans demanded that instead of a public sector bailout the bank should implement a bail-in, and impair various liabilities, which however could result in another bout of public anger, due to the substantial retail investment in the bank's unsecured bonds, perhaps culminating with a run on the bank.
  • UN fears third leg of the global financial crisis, with epic debt defaults
    The third leg of the world's intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history. It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal free-market orthodoxies promoted for almost forty years by the Bretton Woods institutions, the OECD, and the Davos fraternity. “Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion. Damaging deflationary spirals cannot be ruled out,” said the annual report of the UN Conference on Trade and Development (UNCTAD).
  • China’s Holdings of U.S. Treasuries Fall to Lowest Since ’13
    China’s holdings of U.S. Treasuries fell in July to the lowest level in more than three years, as the world’s second-largest economy pares its foreign-exchange reserves to support the yuan. The biggest foreign holder of U.S. government debt had $1.22 trillion in bonds, notes and bills in July, down $22 billion from the prior month, in the biggest drop since 2013, according to U.S. Treasury Department data released Friday in Washington and previous figures compiled by Bloomberg. The portfolio of Japan, the largest holder after China, rose $6.9 billion to $1.15 trillion. Saudi Arabia’s holdings of Treasuries declined for a sixth straight month, to $96.5 billion.
  • First Factories, Now Services Signal Cracks in U.S. Economy
    Some cracks could be starting to appear in the picture of an otherwise resilient U.S. economy. An abrupt drop in the Institute for Supply Management’s services gauge on Tuesday to a six-year low is the latest in a string of unexpectedly weak data for August. Other less-than-stellar figures include an ISM factory survey showing a contraction in manufacturing; a cooling of hiring; automobile sales falling short of forecasts; and an index of consumer sentiment at a four-month low. While there is hardly any evidence that growth is falling off a cliff, the run of disappointing figures make it tougher to argue that the underlying momentum of the world’s largest economy is holding up. It also potentially complicates the task of Federal Reserve policy makers, who are debating whether to raise interest rates as soon as this month; traders’ bets on a September move faded further after the report on service industries, which make up almost 90 percent of the economy.
  • Goldman Sachs Bans Employees from Donating to Trump
    Timing of rule, which OKs Clinton contributions, will be questioned. Goldman Sachs has enacted a set of rules that bans the firm’s top employees from contributing to certain campaigns, including the Trump-Pence ticket. The rules kicked in Sept. 1 and will apply only to partners of the firm. The memo detailing the rule change was first reported by Politico. The firm says the rules were meant to remove any implication of so-called “pay to play.” Four years ago, the bank paid $12 million to settle charges that a former Boston-based banker had picked up bond underwriting business in the state while working for and contributing funds to the campaign of a then Massachusetts state treasurer and governor-hopeful, Tim Cahill.
  • See The 5 Facts That Prove Trump Is ACTUALLY Beating Hillary Badly
    Donald Trump has been taking names and not taking prisoners. He is killing Hillary Clinton and has even had to do it by going up against the media’s rigged polls. Truth Division recently posted the following five statistics that prove that Trump is really winning. FACT #1: Trump has twice the amount of followers on Facebook. Fact #2: Trump has 10.6 million twitter followers. Fact #3: Trump averages 30k viewers per live stream. Fact #4: Instagram – Trump has 2.2 million followers. Fact #4: Reddit – Trump: 197,696 subscribers.
  • Take Your Money Out of the Bank, While You Still Can
    It is now clear, the government of Cyprus was given two options by the IMF and the EU in which they were told that they could steal  money from private bank accounts or they could leave the Eurozone all together and face total economic annihilation. This theft involves seizing the funds of all accounts over 100,000 euros, then stealing up to 40% of those funds sometime over the next few weeks, or whatever EU finance ministers decide exactly how much to steal. I However, no accounts containing less than 100,000 euros will be impacted. This amount was not arbitrarily chosen. The 100,000 mark was chosen because all EU bank accounts are insured up to 100,000 euros. Therefore, the criminal banksters believe that they can steal anything over 100,000 euros because it is not insured.
  • Deutsche Bank Investors Fret Its Legal Reserves Won’t Be Enough
    Deutsche Bank AG is moving closer to settling one of its biggest legal cases. How it manages to pay will depend on whether it can persuade the U.S. to lower its initial request of $14 billion, and by how much. The shares of Germany’s biggest bank plunged on news the Department of Justice is seeking an amount that’s more than twice the 5.5 billion euros ($6.1 billion) Deutsche Bank has set aside for litigation. Aside from the U.S. probe into residential mortgage-backed securities, the lender also faces inquiries into matters including currency manipulation, precious metals trading and billions of dollars in transfers out of Russia.
  • Italy Is the Mother Of All Systemic Threats
    Italy has been in a crisis for at least eight months, though mainstream media did not recognize it until July. This crisis has nothing to do with Brexit, although opponents of Brexit will claim it does. Even if Britain had voted to stay in the EU, the Italian crisis would still have been gathering speed. The high level of non-performing loans (NPLs) has been a problem since before Brexit. It is clear that there is nothing in the Italian economy that can reduce them. Only a dramatic improvement in the economy would make it possible to repay these loans. And Europe’s economy cannot improve drastically enough to help. We have been in crisis for quite a while. Banks were simply carrying loans as non-performing that were actually in default and discounting the NPLs rather than writing them off. But that only hid the obvious. As much as 17 percent of Italy’s loans will not be repaid. This will crush Italian banks’ balance sheets. And this will not only be in Italy. Italian loans are packaged and resold, and Italian banks take loans from other European banks. These banks in turn have borrowed against Italian debt. Since Italy is the fourth largest economy in Europe, this is the mother of all systemic threats.
  • Money Is Pouring Into Property Deals Banks Won't Touch
    Heightened scrutiny of U.S. commercial real estate lending is paving the way for lightly regulated investors to gain a bigger toehold in lucrative deals. Private funds are seeking a record $32 billion for commercial-property debt as buyout firms, real estate investment trusts and hedge funds expand lending. These companies, which typically charge higher interest rates, can move quickly on large loans that may be seen as too speculative for banks.
  • Recession Watch: US Freight Drops to Worst Level since 2010, “Excess of Capacity” Crushes Rates
    When FedEx announced its quarterly earnings today, it included some telling tidbits. In its largest segment, FedEx Express, domestic shipping volume edged up merely 1%. In its smaller FedEx Ground Segment, shipping volume jumped 10%, “driven by e-commerce and commercial package growth.” Sales by e-commerce retailers jumped 15.8% year-over-year in the second quarter, according to the Census Bureau, and companies involved in getting the packages to consumers and businesses have seen growth in those segments. For the rest, not so much – as the goods-based economy is getting bogged down.
  • We Are Headed For War-Paul Craig Roberts
    Former Assistant Treasury Secretary (in the Reagan Administration) Dr. Paul Craig Roberts has a stark warning for the world. Dr. Roberts says, “We changed our nuclear doctrine.  It used to be we used nuclear weapons only in retaliation.  There was no first use, but the George W. Bush regime, the Neocons, changed our nuclear doctrine.  It’s now a preemptive first strike.  So, this tells both the Russians and Chinese they could get a preemptive first strike.  Then, we tell the Russians we are putting missiles right on your border.  You won’t have two minutes’ notice.  They can’t accept that.  It’s too much risk from a crazy country (U.S.) that won’t negotiate with them. . . . So, we’re headed for war. I think the only thing that would block it is if one or two of the European governments realize that they have nothing whatsoever to gain with a conflict with Russia. . . . The only thing they could do to prevent a nuclear war is to pull out of NATO.”
  • BRICS commit to global growth, stability
    Chinese Foreign Minister Wang Yi has praised fellow BRICS member nations for their combined efforts to push for a political solution to the Syrian Civil War but urged the bloc to work diligently to preserve world peace and help promote global growth. Speaking following a meeting with BRICS foreign ministers on the sidelines of the United Nations General Assembly in New York, Wang said: “We need to continue to be an advocate for using peaceful means, including dialogue and negotiation, to solve global hot spots.” Russian Foreign Minister Sergei Lavrov seized on Wang’s statement and said that the BRICS members are fully capable of working toward establishing a fairer and more just international order, with better coordination on key political and economic issues.
  • Michael Pento On The Coming Bond Bubble Collapse
    All asset classes will collapse in tandem when this bursts – an event that will send SHOCKWAVES throughout the global economy: In this week’s podcast, Michael Pento, fund manager and author of The Coming Bond Bubble Collapse, explains how the United States is fast approaching the end stage of the biggest asset bubble in history. He describes how the bursting of this bubble will cause a massive interest rate shock that will send the US consumer economy and the US government—pumped up by massive Treasury debt—into bankruptcy, an event that will send shockwaves throughout the global economy.
  • Jim Willie Warns US Dollar Faces 30% Devaluation As BRICS Prepare Return of Gold Standard!
    The Fascist Business Model incorporates all the worse elements of Keynesian economics, a broken fallacious school of thought. The model also integrates a vast system of economic heresy, put forth as public address dogma. All their messages are wrong. They are instead aligned with support of the power structure where big banks conduct self-dealing and print money for themselves. Consider many of the Fascist Business Model messages, laced within the endless din of propaganda. Their messages are all false, in support of the existing power structure in place. The Jackass privately calls it Reich Economics, a truly broken appendix to the demonstrably broken Keynesian chapters of heretical economics. The West has followed the methods of John Maynard Keynes, who also held disdain for the Gold Standard. In doing so, the West has destroyed the financial platforms, eroded the capital formation devices, polluted the business arenas, and put the entire USEconomy at risk of systemic failure. The only success of the model is preservation of power, which soon will come to an end.
  • Four Flash Points That Could Trigger World War III: “We Have Not Been This Close To Nuclear War In A Long Time”
    As can readily be seen by the current events, the world has not been this close to a nuclear war and World War 3 in a long time.  There are four major flashpoints right now that could easily escalate and ignite a powder keg, transforming from a regional conflict or conflicts into a world war: Syria, the South China Sea, Ukraine, and North and South Korea.  The “reconstruction” of a Cold War-type faceoff, initiated by the U.S. and NATO building up forces in Eastern Europe and facing off against Russia. A nuclear war will be initiated by an EMP (Electromagnetic Pulse) detonation over the continental U.S., followed by a nuclear exchange and a war with conventional forces. As of this writing, the U.S. has “mistakenly” bombed Syrian governmental military forces, causing at least 60 deaths with more than 100 others wounded.  The Russian government is sizzling, especially with the response by (of all people) Samantha Power, U.S. Ambassador to the UN had this to say to the media, as reported by CNN: “We are investigating the incident.  If we determine that we did indeed strike Syrian military personnel, that was not our intention. And we of course regret the loss of life.”
  • Trump and Clinton Are “Positive For Gold” – $1,900/oz by End of Year
    Trump or Clinton are “positive for gold” and prices could rise to between $1,700 and $1,900 per ounce by year end according to Canadian gold mining magnate Rob McEwen. Gold “is a currency that doesn’t have a liability attached to it,” McEwen said Tuesday in an interview with Bloomberg at a gold conference in Colorado Springs.
  • John Embry – The Key To Surviving The Destruction Of The Current Monetary System
    As the world awaits tomorrow’s Fed decision, today John Embry spoke with King World News about the key to surviving the destruction of the current monetary system. John Embry:  “Eric, I think this should be an interesting week with the Fed meeting taking place tomorrow, and a Japanese monetary meeting taking place simultaneously.  I really think the Fed is so out of touch with reality that nothing would shock me…
  • Australian property market to collapse in 6 weeks – US think tank
    Over the past couple of months, we have written frequently about the impact of Chinese money laundering operations on home prices in a couple of large cities around the globe. So far, the Vancouver market has seemingly been the hardest hit with homes prices collapsing over 20% in one month after the city passed a 15% property tax on foreign buyers on July 25, 2016 (see “As The Vancouver Housing Market Implodes, The “Smart Money” Is Rushing To Get Out Now“). Now, a U.S. based think tank, International Strategic Studies Association (ISSA), is warning that similar efforts to restrict Chinese investment in Australian real estate could send prices tumbling there as well.
  • Is U.S. Shale Nearing Collapse?
    Crude oil production in the United States has decreased by more than 10 percent since the record high of 2015, from 9.6 million barrels per day (mmbpd) to less than 8.6 mmbpd. However, the drop in shale oil production has reached almost 20 percent. Moreover, if the increasing Permian Basin production were left out of the equation, the decrease in U.S. shale oil output would be about 33 percent! And this fall will deepen as the number of new wells is still not sufficient. The collapse of the shale oil production is related to the decline curve of tight oil, but shale oil well production starts to decline much faster than that from regular wells.
  • Central Banks are Buying 385 Tons of Gold Every Year
    Central banks have got the economy and markets covered. They know what they’re doing. Their theories are backed up by decades of academic research and expert advice. Expert advice, as we all know, is completely apolitical, changes rarely, and never, ever does a complete U-turn, like – I don’t know – telling us all to start eating butter after years of telling us not to, or something crazy like that. So why worry? I mean, what kind of deluded neurotic doom-monger would keep hanging onto gold (as insurance, of all things!) in their portfolio with people of this calibre in charge? Well, I hate to break this to you, but… Guess who’s buying lots of gold? Central banks are piling into gold. They have been ever since the financial crisis blew up in 2008.
  • Why the Fed Destroyed the Market Economy
    Swing voters are a fickle bunch.  One election they vote Democrat.  The next they vote Republican. For they have no particular ideology or political philosophy to base their judgment upon. They don’t give a rip about questions of small government or big government.  Nor do they have any druthers about the welfare or warfare state. In effect, they really don’t care.  What’s important to the swing voter is much simpler.  In fact, it can be boiled down to the following essential question.  What have you done for me lately? The answer to this question, of course, comes back to money.  As far as the swing voter’s concerned, if their brokerage account’s growing they vote the incumbent party.  If it’s shrinking, they vote the challenger party.
  • Great Causes, a Sea of Debt and the 2017 Recession
    We continue our work with the bomb squad. Myth disposal is dangerous work: People love their myths more than they love life itself. They may kill for money. But they die for their religions, their governments, their clans… and their ideas. Some people think that even an idea as abstract as “freedom of speech” is worth dying for. It was Voltaire who said: “I disapprove of what you say, but I will defend to the death your right to say it.” Most people jump onboard the train of a Great Cause with enthusiasm and conviction. But many have the good sense to hop off quietly before their lives are in real danger. We suspect that Mr. Voltaire would have done the same. That’s why the deadliest myths are those that you can ride along with at no personal risk. Foreign wars, for example, are always a favorite. When Pericles proclaimed that the honor of Athens was at stake, and that it must take up the imperial burden and continue its war with Sparta, he was not offering to invade Sicily himself. Nor was George W. Bush, in announcing his War on Terror, suggesting that he would personally march into Mosul.
  • Surprise! Wall Street Goes “All In” for Hillary Clinton
    Hordes of industry executives will descend on the city to celebrate Hillary Clinton’s nomination for president and renew close associations that vexed the Democratic standard-bearer throughout her primary battle with Bernie Sanders. Blackstone, one of the nation’s largest private equity firms, will hold an official reception in Philadelphia on Thursday featuring its president, Tony James, sometimes mentioned as a possible Treasury Secretary in a Clinton administration. The financial contingent will be in an especially good mood following Clinton’s selection of Virginia Sen. Tim Kaine as her running mate.Kaine has shown a willingness to fight for regional bank relief from the Dodd-Frank financial reform law. But more than that, he’s not Elizabeth Warren, the potential VP pick that long had Wall Street terrified.
  • Abenomics Crushes It——Japanese Exports, That Is!
    Japan’s poor exports performance continued in August, with shipments falling for an 11th straight month as a strong yen and tepid global economy undercut demand. Key Points: Exports dropped 9.6 percent in August from a year earlier, the Ministry of Finance said on Wednesday. The median estimate of economists surveyed by Bloomberg pointed to a 4.7 percent decline. Imports fell 17.3 percent, resulting in a trade deficit of 18.7 billion yen ($184 million).
  • Daily Data Dive: What Housing Recovery—–SF Starts Still 15% Below 1991 Recession Level
    The Commerce Department reported that the headline number for August housing starts was 1.142 million units. This was below the overly optimistic consensus estimate of economists of 1.186 million, and below the July figure of 1.212 million. The numbers are reported on a seasonally adjusted annualized basis, which means that any month to month error in the seasonal factor finagling is multiplied times 12. We prefer to look at the actual data on a rate of change basis, comparing years for a measure of whether the current report was weak or strong.
  • Small Business Survey Trips Economic Alarms
    Earlier this week, the National Federation of Independent Businesses released their monthly Small Business Survey. While this data is much overlooked by the mainstream media, it really shouldn’t be. Out of the 26 million businesses registered in the United States, only 6 million have active employment and generate revenue. Of that total, almost 80% have fewer than 5-employees. Simply, it is small businesses that drive the economy, employment, and wages. Therefore, what the NFIB says is extremely relevant to what is happening in the actual economy versus the headline economic data from Government sources. In August, the survey declined 2-tenths of a point to 94.4. While that may not sound like much, it is where the deterioration occurred that is most important. Furthermore, despite an improvement from the financial crisis lows, the current levels are still well below the levels normally witnessed at the late stage of an economic recovery.
  • U.S. wants Deutsche Bank to pay $14 billion over toxic mortgages
    The U.S. Justice Department wants the bank to pay $14 billion over allegations it packaged up toxic mortgages between 2005 and 2007. But Germany's biggest lender says the huge sum demanded by the U.S. government is just the opening move in what's likely to be a lengthy back-and-forth. Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited,” it said in a statement. “The negotiations are only just beginning.” Deutsche Bank (DB) said it expects the wrangling to result in “an outcome similar to those of peer banks which have settled at materially lower amounts.”
  • Americans See Current Economic Conditions Worst In 11 Months As Inflation Expectations Plunge
    University of Michigan survey results show Current Economic Conditions plunged to 103.5 – the lowest since Oct 2015. The biggest driver of this weakness is tumbling inflation expectations (with 1Y outlook dropping to 2.3% – the lowest since Sept 2010). Confidence was unchanged in early September from the August final and barely different from the July reading. Small and offsetting changes have taken place in the third quarter 2016 surveys: modest gains in the outlook for the national economy have been offset by small declines in income prospects as well as buying plans.
  • That $100,000 Painting Bought to Flip Is Now Worth About $20,000
    Art dealer and collector Niels Kantor paid $100,000 two years ago for an abstract canvas by Hugh Scott-Douglas with the idea of quickly reselling it for a tidy profit. Instead, he is returning the 28-year-old artist’s work to the market this week at an 80 percent discount. Such is the new art season. At auction houses in London and New York, sellers are preparing to bail on their investments after the emerging-art bubble burst and the resale market for once sought-after artists dried up.
  • Trump shatters GOP records with small donors
    Donald Trump has unleashed an unprecedented deluge of small-dollar donations for the GOP, one that Republican Party elders have dreamed about finding for much of the past decade as they’ve watched a succession of Democrats — Barack Obama, Bernie Sanders and, to a lesser extent, Hillary Clinton — develop formidable fundraising operations $5, $10 and $20 at a time. Trump has been actively soliciting cash for only a few months, but when he reveals his campaign’s financials later this week they will show he has crushed the total haul from small-dollar donors to the past two Republican nominees, John McCain and Mitt Romney — during the entirety of their campaigns.
  • Tiger Cub Citrone Sees Market in Biggest Correction Since 2008
    Robert Citrone, the Tiger cub who now runs one of the best-known macro hedge funds, is warning investors that the market moment they’ve been anticipating is at hand. “We believe we are in the midst of the market correction we have been expecting,” Citrone, founder of Discovery Capital Management, told investors in an e-mail obtained by Bloomberg. “It will likely persist over the next 3-4 months and be the largest correction since the 2008 crisis,” he said. The firm managed about $12.4 billion at the start of 2016.
  • Gerald Celente Issues Major Trend Forecast For The Rest Of 2016
    With the world focused on the Fed decision, today top trends forecaster Gerald Celente issued an important trend forecast for the rest of 2016. Trend Alert: BIS Issues Warning As Gold Bides Time. (King World News) Gerald Celente — Central Bank policies rule the financial world. Their never-in-the-history-of-the-world negative and historically low interest rate policies, plus massive government and corporate bond buying schemes have enriched equity markets but not the general economy…
  • Fitch reveals the $2trillion black hole in China's economy that heralds a lost decade
    Bad debts in the Chinese banking system are ten times higher than officially admitted, and rescue costs could reach a third of GDP within two years if the authorities let the crisis fester, Fitch Ratings has warned. The agency said the rate of non-performing loans (NPLs) has reached between 15pc and 21pc and is rising fast as the country delays serious reform, relying instead on a fresh burst of credit to put off the day of reckoning. It would cost up to $2.1 trillion to clean up this toxic legacy even if the state acted today, and much of this would inevitably land in the lap of the government.
  • Martin Armstrong On “The Coming Dark Age”
    Over the years you have made several comments about directional changes and have alluded to the idea that a crossroads is coming in that we will either enter another Dark Age or we will see the light towards greater liberty and freedom. More recently, you mentioned the year 2032 as a critical year in this regard. In addition, you have mentioned that Trump winning the election would postpone the inevitable chaos, but that HRC winning would speed it along. In terms of the distal effects of the November election on 2032, does either Trump or Clinton winning increase the likelihood of entering a Dark Age over something more hopeful? Should we be attempting to kick the can down the road or should we get it over with?
  • The Three Stages Of Empire
    I consider it self-evident that we are in the third and final stage of self-serving Imperial decay. Though Edward Luttwak's The Grand Strategy of the Roman Empire: From the First Century CE to the Third is not specifically on the rise and fall of empires, it does sketch out the three stages of Empire.
  • Gold & Silver Surge, Break Technical Levels
    Gold and silver are surging this morinng after BoJ's disappointment as a stronger yen weighs on the USD index. Heavy volume has lifted Gold off key technical support and silver through a major technical resistance… Gold bounces off its 100-day moving-average…

Precious Metals Are The Only Lifeboat! I have persistently WARNED you what was happening in the gold market and why you needed to convert your paper assets to physical gold and silver by the middle of September 2015. You need to hedge against the financial instability with physical gold and silver. Call the experts to help you convert your IRA or 401k into Gold, Silver and Other Precious Metals. Call GoldCo NOW before it's too late! Call Toll-Free 1-877-414-1385.

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Latest News Articles – September 22, 2016

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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Lindsey Williams - Latest News Articles

Latest News From September 16, 2016 to September 22, 2016:

  • The Federal Reserve confronts a possibility it never expected: No exit.
    Two years ago, top officials at the Federal Reserve mapped out a strategy for withdrawing the central bank’s unprecedented support for the American economy. The official communiqué was titled “Policy Normalization Principles and Plans,” and it was supposed to serve as a rough outline for the tenure of newly installed Fed Chair Janet L. Yellen. Essentially, it consisted of two basic parts: Raise interest rates and shrink the central bank’s massive balance sheet.
  • $195 Billion Asset Manager: “The Time Has Come To Leave The Dance Floor”
    We find it surprising how, having covered the unprecedented growth in US corporate debt over the past few years, which has more than doubled from $2 trillion at around the time of the financial crisis to approximately $6 trillion currently resulting in a debt/ETBIDA ratio that has never been higher some are still amazed by what is taking place on corporate America's balance sheets. Overnight, one person warning how all this will end is TCW Group's Tad Rivelle, who is the latest to observe that “corporate leverage, which has exceeded levels reached before the 2008 financial crisis, is a sign that investors should start preparing for the end of the credit cycle.”
  • Dallas Police Pension On Verge Of Collapse As Record Number Of Cops Seek Full Withdrawals
    The rampant fraud at the DPFP left the fund over $3BN underfunded and its board of directors with no other option but to seek a $600mm infusion from taxpayers to keep the fund afloat.  Even worse, a review of the pension's financials revealed $2.11 of annual benefit payments to members for every $1.00 contributed to the plan by members and taxpayers (mostly taxpayers)…the typical pension ponzi whereby plan administrators borrow from assets reserved to cover future liabilities (which are likely impaired) to cover current claims in full.
  • “We Haven't Seen This Since The Great Depression” – Gallup CEO Destroys The “Recovery” Lie
    I've been reading a lot about a “recovering” economy. It was even trumpeted on Page 1 of The New York Times and Financial Times last week. I don't think it's true. The percentage of Americans who say they are in the middle or upper-middle class has fallen 10 percentage points, from a 61% average between 2000 and 2008 to 51% today.
  • Bill Blain: What The BOJ Just Did Is “Recipe For Disaster”
    Some interesting, and accurate, thoughts in this morning's edition of Bill Blain's “Morning Porridge”, who – despite calling this website a “tabloid” in the past – now agrees with what we have claimed all along for the past 7 years.
  • US federal debt expanding at fastest rate since the crisis
    A few days ago, the federal debt of the United States rather quietly and unceremoniously passed the $19.5 trillion mark. And while that figure may seem absolutely confounding, what’s even more alarming is how rapidly the US government is racking up this debt. In fact, for the 2016 fiscal year that ends in just ten more days, the US government’s debt growth of $1.36 trillion is on track to be the third biggest annual increase ever. The only two years in all of US history that posted higher US debt growth were 2010 and 2011– the peak of the financial crisis. Even more acutely, last month the US federal debt grew by $151.5 billion.
  • The Biggest Washington Whopper Yet
    You can’t find lazier people than in the mainstream financial press, but their exuberant cheerleading about the purported 5.2% gain in the real median household income in 2015 surely was a new high in mendacity. And we are not talking about the junior varsity here: The Washington Post was typical with a headline of superlatives followed by even more exuberance in the text: ‘U.S. household incomes soared in 2015, recording biggest gain in decades………The data represents the clearest evidence to date that the nation’s long, slow and topsy-turvy economic recovery has finally begun to deliver prosperity for wide swaths of workers.' The self-evident fact is that the median household couldn’t have had an after-inflation income gain of 5.2% in 2015. There is not a single data point in the mountains of “incoming” economic data that is consistent with that proposition. Yet nothing in the Post story, or any other mainstream coverage, even hints that the Census Bureau’s whopper isn’t on the level. In the context of what was by all accounts a sputtering economy during 2015, in fact, the Census Bureau unleashed the largest year-over-year gain in recorded history. But not a single reporter smelled a fish.
  • 10 Must Have Skills For a Collapsed Economy: “Increase Your Ability To Survive”
    Sometimes it is astounding to think how vulnerable and prone to collapse society has become. In many ways, there is every chance that civilization could have become vibrant and largely self-sustaining. But that isn’t the direction that the larger system took at all. Instead, it chose a disposable economy, with planned obsolescence and extreme dependence. Individuals, however, can still make that choice. It is possible to enjoy the fruits of modern life, while preparing your family for survival conditions that could strip society down to the bare basics. If you invest in your own pipeline to food, water, fuel, knowledge of nature, DIY skills and the like, you can become highly immune to unstable market conditions and the collapse of civilization.
  • “Deutsche Bank May Ultimately Need A State Bailout” – Handelsblatt
    While the most recent set of troubles plaguing Deutsche Bank have been duly documented here, most recently yesterday when the stock price tumbled once again just shy of all time lows over fears the bank's multi-billion DOJ settlement could severely impact its liquidity and/or solvency, this may be the first time we have heard the “n”-word tossed around in an official German publication: as Germany's top financial newspaper, Handelsblatt said, “German financial officials reacted with shock and dismay to the leaking of a U.S. government demand for a $14 billion fine against Deutsche Bank, which may ultimately need a state bailout to pay the bill.”
  • Understanding the Root Cause of the Coming Global Reset…
    Everywhere you turn today, you hear people talking about a coming “global reset,” or a coming “global economic collapse,” but what does that mean anyway? Is it just people or companies fear mongering for personal profit, or is there something to it? Furthermore, if there is something legitimate to all of it, what should you do? If you don’t know, because you you’re not big on following economics, this post should help explain those issues to you in a simple to understand way.
  • Trust in mainstream media reaches lowest point in history
    Americans’ trust and confidence in the mass media “to report the news fully, accurately and fairly” has dropped to its lowest level in Gallup polling history, with 32% saying they have a great deal or fair amount of trust in the media. This is down eight percentage points from last year.
  • US ‘War on Terror’ has cost $5 trillion and increased terrorism by 6,500%
    On September 11, 2001, one of the most tragic events in recent American history took place. Close to 3,000 civilians lost their lives in horrific terror attacks that took place on American soil. Fifteen years later, it is time to ask the question: have our counterterror efforts helped to reduce the amount of terrorism in the world? Or at the very least, have they tried to make the world safer? According to a report released by Dr. Neta Crawford, professor of political science at Brown University, spending by the United States Departments of Defense, State, Homeland Security, and Veteran Affairs since 9/11 is now close to $5 trillion USD. Before we have the chance to ask how a country that has racked up over $19.3 trillion USD in debt can spend $5 trillion USD on war, the focus of this article is to ask: What has all of this spending achieved?
  • After 40 Years of Boom, Bust Hits America’s Cowboy Coal Basin 
    The last bastion of the American coal industry has been breached. The bust that’s devastated Appalachia for five years has finally reached cowboy country’s Powder River Basin. For four decades, the 300-mile corridor stretching from Wyoming north into Montana thrived on the strength of the cleaner low-sulfur coal carved from its vast plains. No more. After producing more than 400 million tons every year since 2004, the region’s output this year will drop by about 100 million tons, analysts say, undercut by cheap natural gas, growing utility use of renewables and new environmental rules. Since last fall, 1,100 workers, or 17 percent of the mining workforce, have lost their jobs, leaving the industry and the economy reeling.
  • Goldman Sachs Crushes Hopes Of Oil Price Recovery
    Goldman Sachs has been extremely pessimistic about the oil market over the last year and a half, and the latest from their head of commodity research, Jeff Currie, is no exception. According to Currie, crude will continue to trade within the US$45-50 band over the next 12 months. Any improvement above US$50 is highly unlikely. The analyst noted that the primary reason for the gloomy forecast is the simple lack of any upside potential for oil at present. He also suggested that the market may have already balanced itself at the current price levels, comparing the overall environment to that in the early 1990s when a barrel of crude sold for US$20.
  • When Is The Price of Gold Going Up?
    Several analysts in favour of gold are predicting a spike to come in the precious metal’s price. They base this prediction on several arguments: – Negative rates: For a long time gold has been put down as “yielding no interest”. It may have been the case before but now that the yield on traditional investment vehicles (savings accounts, life insurance) is plunging toward zero, this argument is no more valid. The amount of sovereign borrowing at negative rates is increasing, thus the situation, likely, isn’t going to improve. – Stock markets at their highest: The levels reached just prior to the 2008 crisis have been surpassed, but there is still no recovery on the horizon. Obama is set to become the first president in the history of the United States under whom there has not been a single year of growth above 3%. Unemployment statistics are being artificially deflated by the number of discouraged people who have stopped looking for work (nearly 100 million Americans of working age are not working). And let’s not talk about Europe and Japan, with their even weaker growth rates. And the “Chinese locomotive” has run out of steam. – Sales of physical gold are robust, to the point where refiners have difficulty catching up.
  • Gold Is The Ultimate Wealth Preservation Against Reckless Governments
    The autumn of 2016 has for some time looked like a period when dark clouds will move in over the world economy. Therefore, it was not surprising to see the first sign of things to come in the next few months. In one day the Dow erased all the gains since early July with an almost 400 point fall. Since the beginning of the year the Dow is now up a pitiful 4%. Almost 8 years of ZERO interest rates have not managed to revive the US economy, nor the world economy. On a longer timeframe the Dow, together with many other markets, looks extremely vulnerable.
  • Long Term Consequences Of The Oil Price Crash
    The World Energy Investment study released by the IEA on September 14 confirmed what analysts have been prophesying for months: the current decline in oil-and-gas investment is the biggest one in half a century. The current bout of low prices has gotten so deep and remained there for so long that capital investment in new projects, and hence new production, has taken a major hit. But in an era of shifting energy policies, surging interest in renewables and uncertainty over the consistency of demand, what does this drop in investment really signify? And what could it mean, over the long term? There are a lot of factors to keep in mind when taking a look at this new report from the global energy watch-dog.
  • This is How You’ll Bail out Municipal Pension Funds. Check the bills in your mailbox. Happening now in Chicago.
    It has gotten so bad that the phrase “Pension Crisis” made it into Wikipedia. It’s the perplexing reality that municipal, state, federal, and corporate pensions in the US and similar schemes around the world are so badly underfunded that it will be impossible to fulfill the promises by a wide margin. By many trillions of dollars. With state and municipal pension funds in the US, the situation is particularly tricky because the beneficiaries are voters and employees of the government, and politicians of all stripes bought their votes with promises of low contributions and rising benefits. They got away with it for decades because no one cares about “underfunded pensions.” Even the term makes people’s eyes glaze over. But someone is going to pay. And it’s not going to be the politicians.
  • George H.W. Bush to vote for Hillary Clinton
    Former President George H.W. Bush is bucking his party's presidential nominee and plans to vote for Hillary Clinton in November, according to a member of another famous political family, the Kennedys. Bush, 92, had intended to stay silent on the White House race between Clinton and Donald Trump, a sign in and of itself of his distaste for the GOP nominee. But his preference for the wife of his own successor, President Bill Clinton, nonetheless became known to a wider audience thanks to Kathleen Hartington Kennedy Townsend, the former Maryland lieutenant governor and daughter of the late Robert F. Kennedy.
  • Obama Used His Final UN Address To Promote A ‘Liberal World Order’ And A Palestinian State
    During Barack Obama’s eighth and final address to the United Nations he let his true colors show. He staunchly defended globalism, he took several not very subtle shots at Donald Trump, and he boldly declared that Israel “cannot permanently occupy and settle Palestinian land”. That statement about “Palestinian land” was extremely alarming to many, because there are indications that Obama may decide to support a UN Security Council resolution that establishes the parameters for a Palestinian state during his final months in the White House. Barack Obama has promised to squeeze every ounce of “change” out of the remainder of his term that he possibly can, and his last UN speech showed what is on his heart at this moment. According to the Washington Post, Obama’s final UN address represented “an impassioned plea on behalf of a liberal world order”…
  • “We had a lot of Drama in the Markets this Week,” Thanks to the Bank of Japan
    Japan has invented QE and zero-interest-rate policies. It conducted umpteen iterations of them over the past two decades. Throughout, it has demonstrated and documented with ample evidence that QE and ZIRP do not stimulate demand in the economy, though they can have all sorts of other effects. Now once again, Japan is out on front. This week, something interesting happened, even by the standards of the NIRP-absurdity currently in vogue. The 10-year yield of Japanese Government Bonds (JGBs) rose sharply. It had been negative ever since the BOJ announced its negative interest rate policy in February and had dropped as low as -0.30% by late July. But on July 28, the BOJ, to show it’s easing further, expanded its QE program by announcing yet 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).
  • Business Cycle Tinder For A Global Banking Fire
    This week, Raoul Pal, founder of Real Vision TV and Global Macro Investor, joined the MacroVoices podcast for a full-length feature interview wherein he sweeps through a plethora of convergent global financial issues. In addition to his thoughts on his long U.S. dollar thesis, the recent sell-off in bonds, gold, central bank policy, and soft commodities, Pal explains why the crumbling European banking system, within a slumping global business cycle, is the biggest systemic risk yet.  This is an interview you don’t want to miss. The episode starts with a weekly market summary and the interview begins at 13:30, which is summarized below.
  • Dark Warning from World’s Largest Hedge Fund
    With a great crisis comes a significant opportunity, however, and we always want to urge readers to be prudent first in this environment. Hold a significant amount of cash and physical precious metals. Eliminate debt. Long-term investments should focus on cash flow (growing your income).
    For speculative positions, use only money you don’t need for up to 3 years and would not harm your family’s finances if you lost it all. Habitually over-deliver in your work, business, or job. Your core source of income must be treated the same as your favorite investment. Keep in mind that most Americans are literally living paycheck to paycheck, so don’t ever submit to peer pressure when it comes to spending.
  • Obama’s Tax Collections Surpass $20,000,000,000,000; Still Runs Up Debt by $8,878,290,996,028
    With the additional $231,327,000,000 in taxes that the U.S. Treasury collected in August, according to the Monthly Treasury Statement released today, President Barack Obama has now presided over more than $20,000,000,000,000 in federal tax collections during the 91 full months he has served in the Oval Office. From February 2009 through August 2016, the Treasury collected approximately $20,197,437,000,000 in tax revenues (in non-inflation-adjusted dollars), according to the Monthly Treasury Statements. During those same 91 months, the federal debt rose from $10,632,005,246,736.97 to $19,510,296,242,765.66—an increase of $8,878,290,996,028.69.
  • Why The EU Is Doomed
    We are accustomed to looking at Europe’s woes in a purely financial context. This is a mistake, because it misses the real reasons why the EU will fail and not survive the next financial crisis. We normally survive financial crises, thanks to the successful actions of central banks as lenders of last resort. However, the origins and construction of both the the euro and the EU itself could ensure the next financial crisis commences in the coming months, and will exceed the capabilities of the ECB to save the system. It should be remembered that the European Union was originally a creation of US post-war foreign policy. The priority was to ensure there was a buffer against the march of Soviet communism, and to that end three elements of the policy towards Europe were established. First, there was the Marshall Plan, which from 1948 provided funds to help rebuild Europe’s infrastructure. This was followed by the establishment of NATO in 1949, which ensured American and British troops had permanent bases in Germany. And lastly, a CIA sponsored organisation, the American Committee on United Europe was established to covertly promote European political union.
  • Foreign Central Banks Sell A Record $343 Billion In US Treasuries In The Last Year
    One month ago, when we last looked at the Fed's update of Treasuries held in custody, we noted something troubling: the number dropped sharply, declining by over $17 billion, bringing the total to $2.871 trillion, the lowest amount of Treasuries held by foreigners at the Fed since 2012. One month later, we refresh this chart and find that in the latest weekly update, foreign central banks accelerated their liquidation of US paper held in the Fed's custody account, which tumbled by $27.5 billion in the past week, the biggest weekly drop since January 2015, pushing the total amount of custodial paper to $2.83 trillion, the lowest since 2012.
  • The Obamacare Death Spiral—-Health Exchanges Languish As Insurers Flee
    Obamacare appears to be in a death spiral, with a shrinking pool of insurers offering coverage, far fewer individuals purchasing insurance than advocates had anticipated, and double-digit price increases making policies unaffordable — not only to many individuals and families, but to taxpayers, who are required to underwrite the hefty subsidies Washington promised. The law is not working and its condition is getting worse. The centerpiece of the program, the health insurance exchanges (misleadingly labeled “Marketplaces” by the administration), will pretty much cease to exist within a few more years.
  • Infrastructure Spending Does not “Grow the Economy”
    In a new twist, the presidential nominees from both major political parties have fallen for (or hope that the voters have fallen for) a time-worn fallacy, and have proposed government spending on infrastructure “to grow the economy and create jobs.” As David Stockman has shown, infrastructure in the United States is not “crumbling,” nor is spending on infrastructure disappearing. What is equally important to our analysis, though, is the fallacy that government spending, on infrastructure or anything else, creates jobs or economic growth in the aggregate. This fallacy and related myths need to be dispensed with before anyone begins to take them seriously. Murray Rothbard addressed the issue in great detail in his article “The Fallacy of the ‘Public Sector.’” Below I seek to summarize, in simple terms that even Donald Trump and Paul Krugman can understand: there is no such thing as the Infrastructure Fairy that takes government spending and magically turns it into economic growth.
  • Italy's PM Unloads On Deutsche Bank's Unfixable Problem: “Hundreds And Hundreds Of Billions Of Derivatives”
    After a tumultuous week for Deutsche Bank which saw the DOJ demand a $14 billion settlement for the bank's past RMBS transgressions, it was another bad day for the giant German lender, whose stock and contingent converts tumbled after the investing community realized that even a modest $5.5 billion final settlement would leave it perilously undercapitalized and likely scrambling to raise more cash.
  • Warnings Coming Fast And Thick—–The Red Ponzi Relies On Property Bubbles To Prop Up GDP
    Lots of China again today. Most of it based on warnings, coming from the BIS, about the country’s financial shenanigans. I’m getting the feeling we have gotten so used to huge and often unprecedented numbers, viewed against the backdrop of an economy that still seems to remain standing, that many don’t know what to make of this anymore. Ambrose Evans-Pritchard ties the BIS report to Hyman Minsky’s work, which is kind of funny, because our good friend and Minsky adept Steve Keen is the economist who most emphasizes the need to differentiate between public and private debt, in particular because public debt is not a big risk whereas private debt certainly is. And that happens to be the main topic where people seem to get confused about China. To quote Ambrose: “..Outstanding loans have reached $28 trillion, as much as the commercial banking systems of the US and Japan combined. The scale is enough to threaten a worldwide shock if China ever loses control. Corporate debt alone has reached 171pc of GDP..”
  • Peter Schiff: “We’re Already in a Recession”
    Peter Schiff appeared on the Next News Network to give some insights into the possible US war in South China, Hillary Clinton’s recent health problems, international trade, ObamaCare, and quantitative easing.
  • David Stockman Warns: The Elections Will Bring Pandemonium To Washington and Chaos To The Markets
    Donald Trump has made repeated calls to remove Fed chair Janet Yellen from office, saying that she should be ‘ashamed’ of what she’s doing to the country. So what exactly would a Trump presidency mean for the Fed and for the markets? We speak with David Stockman, former Office of Management and Budget Director under Reagan and author of “Trumped! A Nation on The Brink of Ruin and How to Bring it back.”
  • James Turk – The World Is Headed For A Crisis Far Worse Than 2008
    As the world awaits this week’s Fed decision, today James Turk warned King World News that the world is headed for a crisis far worse than 2008. James Turk:  “The Federal Reserve’s 2-day monetary policy meeting this week should be an interesting one, Eric, but not because they are going to raise interest rates. Rather, it will be interesting to hear their explanation regarding why they aren’t raising rates…
  • Greyerz – The Roadmap To A Staggering $10,000 Gold And $1,000 Silver
    As we get ready to enter the final quarter of 2016, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, just spoke with King World News about the roadmap to $10,000 gold and $1,000 silver. Egon von Greyerz:  “If you look at the euro, it’s not going to survive.  At some point European investors will realize that and they will flee the euro into gold.  It’s the same with the yen.  The Japanese economy has no chance of surviving and so at some point point the Japanese will start buying gold.  People in the U.S. will also turn to gold as the dollar starts falling.  And there will not be enough gold or silver to satisfy the massive increase in demand.  The only way to satisfy demand will be through a higher price.  That’s why we will easily see $10,000 gold and $1,000 silver.
  • Ron Paul: The Fed is Prepping for the Next Crisis
    From Ron Paul: The Federal Reserve’s insistence on ever-growing influence in the financial markets is a signal that they’re preparing for the next crisis — and citizens’ rights are bound to be violated.
  • Deutsche Bank Shares Fall Again; Bank “Significantly Undercapitalized”
    Things are going from worse to worst once again for Deutsche Bank AG (NYSE:DB) as equity and credit markets deteriorate further as analysts warn Germany’s biggest (and the world’s most systemically dangerous) bank would be “significantly undercapitalized” even if an eventual settlement with the DoJ can be covered by the bank’s reserves.
  • China’s Stunning Plan For Gold And A New Monetary System
    With many investors worried about the economic turmoil that has engulfed the globe, here is China’s stunning plan for gold and a new monetary system. China’s Plan For Gold & A New Monetary System. Stephen Leeb:  “The world is headed to a new monetary system. But most in the West are still valiantly trying to deny that reality. Whether you’re reading The New York Times or Bloomberg News, or delving into recent white papers released by various institutions, you’re sure to find anti-gold propaganda, stories about how oil is plentiful, all the while stalwartly maintaining that the dollar won’t be superseded by the renminbi…
  • China Now Dumping Unprecedented Amounts Of U.S. Treasuries
    Ahead of this week’s Fed decision, China is now dumping unprecedented amounts of U.S. Treasuries. China Dumping U.S. Treasuries. Here is how Peter Boockvar summed up the situation:  In case you didn’t see, on Friday at 4pm the Treasury International Capital flow data for July was released and it continues to be a big focus of mine. For a 4th straight month foreigners were net sellers of US notes and bonds. They sold a net $13.1b in July which brings the year to date level of selling to $156b which compares to net selling of $20b in 2015, net buying of $165b in 2014, $41b in 2013 and $400b in both 2011 and 2012. This level of selling is unprecedented going back to when data collection started on this in 1977…
  • Stock & Bond Bubbles Much Worse Than 1929-David Stockman
    Economic expert and best-selling author David Stockman offers a dire view of the deep financial trouble America faces in his new book titled “Trumped!”   Stockman warns, “I think we are on the very edge, but what is different this time and makes it scarier . . . is I believe the central banks that ruled the roost have gone from one extreme to the next and done unfathomable things like negative interest rates on $13 trillion of bonds around the world, monetization of the debt, and bond purchases that are staggering such as $90 billion a month in Europe. . . . So, this time, as the phrase goes, they went all in.  They have violated every principle of sound money and sustainable finance that mankind has ever learned about over many centuries.  They have taken us to the edge, but they are out of dry powder.  I think it’s pretty obvious that they can’t go any deeper with subzero interest rates, or negative interest rates. . . . If they tried this in the United States, I think there would be a huge political uprising. . . . They are out of dry powder and out of tools, and therefore, the financial markets of the world are more vulnerable, maybe even more so than in 1929.  You are talking about a bond bubble like never before imagined or conceived, and the stock market is the same way as well as derivatives.”
  • The Bank For International Settlements Warns That A Major Debt Meltdown In China Is Imminent
    The pinnacle of the global financial system is warning that conditions are right for a “full-blown banking crisis” in China.  Since the last financial crisis, there has been a credit boom in China that is really unprecedented in world history.  At this point the total value of all outstanding loans in China has hit a grand total of more than 28 trillion dollars.  That is essentially equivalent to the commercial banking systems of the United States and Japan combined.  While it is true that government debt is under control in China, corporate debt is now 171 percent of GDP, and it is only a matter of time before that debt bubble horribly bursts.  The situation in China has already grown so dire that the Bank for International Settlements is sounding the alarm…
  • Analyst: Stocks Will Crash by 75% in Coming Years
    Société Générale analyst Albert Edwards is famous for his bearish prognostications, but his latest forecast — where he calls for a 75% crash — might be his the gloomiest yet.
  • 3 Terror Attacks In America In 24 Hours
    New York City, New Jersey and Minnesota were all hit by terror attacks within a 24 hour time period, and authorities are concerned that this may be the start of a fresh wave of terrorism in this country. Those that conduct acts of terror do so because they want to create fear and because they want attention. All three of these attacks accomplished those goals, but in particular the bombing in New York City’s thriving Chelsea neighborhood instantly captured the attention of the entire nation.
  • 10 Things That Every American Should Know About Donald Trump’s Plan To Save The U.S. Economy
    Can Donald Trump turn the U.S. economy around?  This week Trump unveiled details of his new economic plan, and the mainstream media is having a field day criticizing it.  But the truth is that we simply cannot afford to stay on the same path that Barack Obama, Hillary Clinton and the Democrats have us on right now.  Millions of jobs are being shipped out of the country, the middle class is dying, poverty is exploding, millions of children in America don’t have enough food, and our reckless spending has created the biggest debt bubble in the history of the planet.  Something must be done or else we will continue to steamroll toward economic oblivion.  So is Donald Trump the man for the hour? If you would like to read his full economic plan, you can find it on his official campaign website.  His plan starts off by pointing out that this has been the weakest “economic recovery” since the Great Depression…

Precious Metals Are The Only Lifeboat! I have persistently WARNED you what was happening in the gold market and why you needed to convert your paper assets to physical gold and silver by the middle of September 2015. You need to hedge against the financial instability with physical gold and silver. Call the experts to help you convert your IRA or 401k into Gold, Silver and Other Precious Metals. Call GoldCo NOW before it's too late! Call Toll-Free 1-877-414-1385.

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