It seems Carl Icahn will not be going activist on the S&P500 after all. During the Reuters Investment Outlook Summit in New York on Monday, the 78 year old billionaire said that "I am still concerned that one day you'll see a break like you had a few weeks ago but it won't come back."
Submitted by Tyler Durden on 11/17/2014 - 15:50 Something is dreadfully wrong in America.
Submitted by Tyler Durden on 11/17/2014 - 18:18 No, this is not a joke.
Submitted by Tyler Durden on 11/17/2014 - 18:02 “In a Ponzi game you exhaust the lenders eventually, and of course Japanese taxpayers may revolt. But otherwise there are always new taxpayers, so this is a feasible Ponzi game, though I'm not saying it's good.”
Submitted by Tyler Durden on 11/17/2014 - 20:55 Since Ben Bernanke reminded the world of the existence of government printing-presses, echoed Milton Friedman's "helicopter drop" solution to fighting deflation, and decried Japan for not being as insane as it could be... it has only been a matter of time before some global central bank decided that the dropping of cash onto the populace was the key to economic recovery. Having blown their wad on QQE (and been left with a triple-dip recession), it appears Japan has reached that limit. As Japan's News47 reports, Prime Minister Shinzo Abe has instructed his cabinet to develop economic measures such as handing out 'gift certificates' to the poor to "support personal consumption directly."
Submitted by Tyler Durden on 11/17/2014 - 20:23 If only George Orwell could see us today. When he wrote “1984” back in 1948, he probably never imagined that the “totalitarian, bureaucratic world” that he imagined would ever actually become a reality. But that is precisely what is happening. The control freaks that run our society are absolutely obsessed with watching, tracking, recording and monitoring virtually everything that we do. We truly are becoming a “1984” society, and if we continue on the path that we are currently on eventually our world will be transformed into something more hellish than anything that George Orwell ever imagined.
Submitted by Tyler Durden on 11/17/2014 - 19:32 Pension debt in the Land of Lincoln is a big problem. So big, in fact, that it would take three years of a complete government shutdown, during which the entire general fund went toward pensions, just to break even. Illinois politicians have looted and mismanaged public-employee pension funds for decades. The system is no longer sustainable or affordable.
from The Wealth Watchman:
Sometimes, it behooves us to revisit some basics, when valuations are strained beyond all limits of credibility and belief. When you really need that splash of icy-cold water on your face, ya know?
Case in point, this past Friday, in episode 2 of the Clarion Call, I took some time fleshing out an astonishing dollar figure about silver. If you’re a subscriber on the Watchman’s YouTube channel, then you’d already know what it is, and if you’re not, what are you waiting for? *nudge nudge*
Honestly though, the figure was so surreal to this Watchman, that I decided to flesh it out a great deal more in this article, to demonstrate just how precarious our enemy’s position has become in their silver suppression. I can’t stress enough how many times I’ve told our brothers, that this unforgiving downtrend in silver, which is now going on 4 years, has reached the point where valuations are so low, that just a handful of committed people, can really do some serious damage to the riggers.
I just put out a report titled ‘Winter Is Coming.’ This report focuses on the opportunity for investors as well the global problems that remain unresolved. For investors, the high quality mining shares have 10-times upside potential from current levels. The sentiment in the mining shares is extremely negative, and the long-term relative strength in this group is almost at zero. This is an incredibly rare set up.
In the midst of all this negative sentiment, China continues to buy gold. The Russians also continue to be big buyers of gold. The Russians are now the 5th largest holder of gold in the world, ahead of even China — who’s last reported figures date back to 2009. So central banks are still buying gold and it’s just a matter of time before we get a substantial move higher in the price.
John Ing continues @ KingWorldNews.com
As usual the bank analysts are great at making forward price predictions based almost entirely on the current performance of whatever commodity they are analysing. It means they almost all inevitably miss any major turning points in price performance. This is particularly true of those forecasting precious metals prices and recently, given the sharp price falls which took gold down to around $1140, silver to $15 and platinum to below $1180, many of the banks have been rapidly adjusting their forward price predictions ever lower.
But there are others out there who see a different picture, often based on historic technical performance which tends to repeat over and over throughout long periods of history. Perhaps foremost among these are those who follow Elliott Waves…
Read More @ MineWeb.com
Mario Draghi once again surfaced this morning to promise to do “whatever it takes” to help the Eurozone. Draghi has done this anytime the EU markets drop ever since the bottom in the summer of 2012. It’s amazing to watch, particularly when you consider that it is now public information that Draghi actually didn’t have a plan when he first claimed this and is effectively making up policy on the fly. Here are Draghi’s comments from this morning:
*DRAGHI SAYS ECB WILL DO WHATEVER IT TAKES, WITHIN ITS MANDATE
*DRAGHI SAYS EXPANDED PURCHASE PROGRAM COULD INCLUDE GOVT BONDS
Note, that the first statement contains the qualifier “within its mandate.” Of course traders and investors won’t bother to consider that the ECB’s mandate DOESN’T ALLOW IT TO BUY SOVEREIGN BONDS.
Read More @ GoldSeek.com
Nick Laird at Sharelynx has recently complied historical data from multiple sources on the amount of earmarked (custodial) gold held by the US Federal Reserve Bank for other central banks. The chart below shows these stocks, in green, as well as the US’ gold reserves (in blue) and in red is an estimate by the Fed (pre confiscation) of gold held in the US by citizens and others. It provides a broad historical view of monetary gold in the US.
First feature to note is the privately held/circulating gold stocks figure in red. Up to 1915 we see that the gold held by government was stable and it was privately held gold that was growing. After this, the amount of gold in circulation as a proportion of total monetary gold reduced with the introduction of the Federal Reserve System. It ceased completely at the point holding gold was made illegal.
Read More @ GoldSilverWorlds.com
Did you know that some Americans are being hit with health insurance rate increases of more than 500 percent? Taking advantage of “the stupidity of the American voter”, the Democrats succeeded in ramming through one of the worst pieces of legislation that has ever come before Congress. The full implementation of Obamacare has been repeatedly delayed, but now we are finally starting to see the true horror of this terrible law. Thanks to Obamacare, millions of American families are losing health plans that they were very happy with, health insurance rates are skyrocketing, millions of workers are having their full-time hours cut back to part-time hours, rural hospitals all over the country are dying, and thousands of doctors are being driven out of the industry thus intensifying the greatest doctor shortage in U.S. history. Obamacare is a slow-motion train wreck of epic proportions, and the full effect of this law is only beginning to be felt. In the end, the economic impact of this law will likely be measured in the trillions of dollars.