from Market Watch:
China’s central bank is considering lending to policy banks through a
new tool so they can buy bonds issued by local governments, a person
close to the regulator says.
The loans would have a maturity of at least 10 years, the source said. Other details of how this would work remain unclear, but the tool will be unlike anything the bank has used before, he said.
“It will be a new monetary tool the world has never seen,” the person said. “The format does not matter, and all possible means could be taken.”
Read More @ MarketWatch.com
China’s central bank is considering lending to policy banks through a
new tool so they can buy bonds issued by local governments, a person
close to the regulator says.The loans would have a maturity of at least 10 years, the source said. Other details of how this would work remain unclear, but the tool will be unlike anything the bank has used before, he said.
“It will be a new monetary tool the world has never seen,” the person said. “The format does not matter, and all possible means could be taken.”
Read More @ MarketWatch.com
Did The World's Central Banks Hit The Panic Button This Morning?
If there is one thing more worrisome for the world's central planners than a stock sell-off, it is a bond rout 'proving' that they have lost control. The overnight carnage across global bond markets appears to have triggered someone (or someones) to step in - in dramatic size - to rescue bonds and save the world once again.
The Nazi Economic Mirage
Submitted by Tyler Durden on 05/07/2015 - 17:50 Hitler’s policies are still viewed to this day as a great example of how unprecedented government intervention fixed a dire economic problem. In short, Hitler laid a golden egg and produced an economic miracle. As early as 1933, even before any miracle could be seen, the New York Times had nothing but praise for his ambitions, according to the following front page headline: “There is at least one official voice in Europe that expresses understanding of the methods and motives of President Roosevelt—the voice of Germany, as represented by Chancellor Adolf Hitler.” Unfortunately for the people living under the Third Reich, this was never allowed to happen. All of these efforts became increasingly subordinated to the logic of war.
The “aura” of Warren Buffet is nothing more than the epitome of
Orwellian propaganda. Nothing is but what is not. What Buffet “is not”
is a good-ole rags to riches boy who has fulfilled the American dream.
Warren Buffet is the quintessential mascot of American hypocrisy,
criminality and political corruption.I remember in the mid-90’s when I was working on Wall Street and was “pro” anything that could generate a profitable trade, including Greenspan’s money printing. But I always cast a weary, suspicious eye on Warren Buffet. I had read an article back then which detailed the myth vs. reality about Warren Buffet.
How about when Buffet made the assertion that the wealthy should pay more in taxes and then it turns out the Buffet himself was paying a lower rate of taxes than his secretary?
Read More @ InevstmentResearchDynamics.com
image/dailyfinance.com
Turkey, Saudis Form Alliance To Topple Syria's Assad As US Starts Training Syrian Rebels
Submitted by Tyler Durden on 05/07/2015 - 14:48 Ever since the mysterious, unexpected bursting of ISIS on the global stage one year ago with much fanfare and even more carefully produced with just the right amount of lighting beheading video clip, we said from the very beginning that entire rehashed sequence of events in the middle east is about one thing: removing Syria's Assad from power just so the nat gas infrastructure from Qatar can traverse the territory and enter Europe, eliminating Russia's energy dominance over the continent. Today we got the latest confirmation of this in an AP report according to which "Turkey and Saudi Arabia have converged on an aggressive new strategy to bring down Syrian President Bashar Assad."
Most preparedness-minded people put great value in life, liberty, and
the pursuit of happiness. Most want to be ‘left alone’ in their pursuit.
To be independent, perhaps self-sufficient.Thomas Jefferson wrote (while drafting the US Constitution), We hold these truths to be sacred & undeniable; that all men are created equal & independent, that from that equal creation they derive rights inherent & inalienable, among which are the preservation of life, & liberty, & the pursuit of happiness;
Unlike socialism, tyranny, fascism, or communism which uses force to deny some or all of that pursuit, the following philosophy of liberty is perhaps closely associated with that of the Libertarian mindset and is an interesting read…
Read More @ ModernSurvivalBlog.com
Federal Appeals Court Rules Mass NSA Spying On US Citizens Not Authorized By Patriot Act
It would appear America's transformation into a "Big Brother" police state is not endorsed by every branch of the government after all.
Dan Loeb Slams Buffett For Being Habitual Hypocrite
"I love how he criticizes hedge funds, yet he had the first hedge fund. He criticizes activists, he was the first activist. He criticizes financial services companies, yet he loves to invest in them. He thinks that we should all pay taxes, yet he avoids them himself.”
Bank Reserves & Loans: The Fed is Pushing On A String
"Those who might want to borrow are no longer creditworthy due to excessive debt and/or stagnant income, or those who qualify to borrow more are not interested in borrowing more at any interest rate: they are done with debt." The Fed can push interest rates down and make it easy for banks to loan more money, but it can't (yet) force us to borrow money we don't want or need.
Guess Who Owns $1.1 Billion In Apple Stock
Last week we revealed that the Swiss National Bank is the proud owner of an equity portofilio that sums to $100 billion, or around 15% of Switzerland's GDP. Courtesy of the bank's latest SEC filing, we now know just what the Swiss were buying in Q1...The Texas Job Recession Is Now Literally "Off The Chart"
The Last Time Treasuries Were This Oversold...
Based on the most mainstream of mainstream overbought/oversold indicators (a 14-day RSI), the 30Y Treasury bond has not been this oversold since June 2007 - 9 years ago and a very memorable peak in yields. Over the next month, the yield had fallen 16 basis points. Over the next 3 months, the yield had fallen 61 basis points, 6 months, 74 basis points. Finally, this big movement culminated in about a year and a half, as the yield had fallen 280 basis points to the financial crisis low of 2.55% on 12/18/2008.
Yellen Capital Now Significantly Underwater (Again)
It's a little early to judge her stock-timing skills but, just as we saw with Biotechs last year, the market appears quite happy to ignore Janet Yellen's stock valuation calls (while still believing her every word - as if set in stone from on high - that the economy is recovering, that weakness is transitory, and that everything will be awesome)...
Chinese Company Moves To Replace 90% Of Its Workforce With Robots
Since robots entering the workforce is probably one of the most significant economic trends in the decades ahead, we should all start thinking about how to deal with what will be a major adjustment for hundreds of millions, if not billions, of people.
by John Rubino, Dollar Collapse:
David Stockman just published a chart so compelling that he didn’t feel the need to add any commentary.
But there are a few things to be said about the tendency of public companies to repurchase their shares at the very top:
“Peak buyback” is a sign that executives are seeing fewer opportunities to generate positive returns by building new factories or hiring new people, and so choose to give their free cash back to investors. This is NOT a good thing for the future of the business.
Read More @ DollarCollapse.com
David Stockman just published a chart so compelling that he didn’t feel the need to add any commentary.But there are a few things to be said about the tendency of public companies to repurchase their shares at the very top:
“Peak buyback” is a sign that executives are seeing fewer opportunities to generate positive returns by building new factories or hiring new people, and so choose to give their free cash back to investors. This is NOT a good thing for the future of the business.
Read More @ DollarCollapse.com
from Paul Craig Roberts:
Radio “Liberty” has always been a propaganda ministry. Formerly its
propaganda was directed against the Soviet Union. Today it is directed
against distinguished Americans who are known and respected for their
allegiance to the truth.
Radio Liberty’s latest target is an American scholar who is far more widely respected than Radio Liberty. Like everything else in Washington the two-bit propaganda ministry is carried away by hubris and a mistaken opinion of its own importance.
A Radio Liberty non-entity named Carl Schreck, of whom no one has ever heard, has declared America’s most distinguished Russian scholar, Stephen Cohen, to be “a Putin apologist.”
Read More @ PaulCraigRoberts.org
from WeAreChange:
by Michael Snyder, End of The American Dream:
Are you prepared to go without turkey this Thanksgiving? Yes, it might
actually get that bad. So far, the worst outbreak of bird flu in U.S.
history has claimed the lives of more than 20 million
turkeys and chickens, and the pandemic continues to rage wildly out of
control. Once one bird becomes infected, this particular strain of the
virus is so virulent that it can virtually wipe out an entire flock in just a matter of days.
At this point, scientists think that this virus is being spread by wild
birds, but they have no idea how it is getting inside barns and other
enclosed facilities so easily. Considering how important turkey,
chicken and eggs are to our food supply, it is quite alarming that
scientists don’t really understand what is going on. If this bird flu
outbreak is not brought under control, how many birds will eventually
die? Right now, it is already in the tens of millions. Could the total
eventually reach into the hundreds of millions?
Read More…
/
Radio “Liberty” has always been a propaganda ministry. Formerly its
propaganda was directed against the Soviet Union. Today it is directed
against distinguished Americans who are known and respected for their
allegiance to the truth.Radio Liberty’s latest target is an American scholar who is far more widely respected than Radio Liberty. Like everything else in Washington the two-bit propaganda ministry is carried away by hubris and a mistaken opinion of its own importance.
A Radio Liberty non-entity named Carl Schreck, of whom no one has ever heard, has declared America’s most distinguished Russian scholar, Stephen Cohen, to be “a Putin apologist.”
Read More @ PaulCraigRoberts.org
from WeAreChange:
by Mac Slavo, SHTFPlan:
Comedian Evan Sayet is getting a bit of blowback because of a Tweet
following the death of two terrorists in Garland, TX. The attack on a
cartoon event failed after a security guard killed the heavily armed
individuals who were reportedly seeking revenge for insults against the
Muslim prophet Muhammed.
The event had offered a $10,000 prize to the winning cartoon.
Sayet, a conservative, decided to make light of the situation and tweeted what is being hailed by one user as the “best tweet in the history of twitter.”
Read More @ SHTFPlan.com
Comedian Evan Sayet is getting a bit of blowback because of a Tweet
following the death of two terrorists in Garland, TX. The attack on a
cartoon event failed after a security guard killed the heavily armed
individuals who were reportedly seeking revenge for insults against the
Muslim prophet Muhammed.The event had offered a $10,000 prize to the winning cartoon.
Sayet, a conservative, decided to make light of the situation and tweeted what is being hailed by one user as the “best tweet in the history of twitter.”
Read More @ SHTFPlan.com
from Gold Core:
People across Britain are going to the polls today to elect a new
government. Opinion polls suggest that, as in 2010, a hung parliament is
likely as neither the Tories nor Labour are likely to gain an overall
majority.
The uncertainty caused by a hung parliament has historically had a negative impact on markets and on the pound as investors wait for clarity in government policy before making investment decisions. There is also the possibility of more serious market dislocations and concerns that election ‘chaos’ could trigger a ‘Lehman moment’ for the pound.
We think it is important to look at short term dynamics and long term ones.
Read More @ GoldCore.com
People across Britain are going to the polls today to elect a new
government. Opinion polls suggest that, as in 2010, a hung parliament is
likely as neither the Tories nor Labour are likely to gain an overall
majority.The uncertainty caused by a hung parliament has historically had a negative impact on markets and on the pound as investors wait for clarity in government policy before making investment decisions. There is also the possibility of more serious market dislocations and concerns that election ‘chaos’ could trigger a ‘Lehman moment’ for the pound.
We think it is important to look at short term dynamics and long term ones.
Read More @ GoldCore.com
from The Burning Platform:
If you plan to visit a college campus this month, don’t be surprised
if you see signs and placards encouraging you to “Restore the Fourth.”
Restore the Fourth is not about an athletic event or a holiday; it is
about human freedom. The reference to “the Fourth” is to the Fourth
Amendment, and it is badly in need of restoration.
In the dark days following 9/11, Congress enacted the Patriot Act. The Patriot Act has many flaws, including its prohibition of certain truthful public speech, but its most pernicious assault is on the constitutional right to privacy.
One of its sections permits federal agents to write their own search warrants and serve them on persons and entities who by law are the custodians of records about others, such as physicians, lawyers, bankers, telecoms, public utilities and computers servers. The same section of the act has been used perversely by the NSA and the secret FISA court to authorize the bulk collection of data.
Read More @ TheBurningPlatform.com
If you plan to visit a college campus this month, don’t be surprised
if you see signs and placards encouraging you to “Restore the Fourth.”
Restore the Fourth is not about an athletic event or a holiday; it is
about human freedom. The reference to “the Fourth” is to the Fourth
Amendment, and it is badly in need of restoration.In the dark days following 9/11, Congress enacted the Patriot Act. The Patriot Act has many flaws, including its prohibition of certain truthful public speech, but its most pernicious assault is on the constitutional right to privacy.
One of its sections permits federal agents to write their own search warrants and serve them on persons and entities who by law are the custodians of records about others, such as physicians, lawyers, bankers, telecoms, public utilities and computers servers. The same section of the act has been used perversely by the NSA and the secret FISA court to authorize the bulk collection of data.
Read More @ TheBurningPlatform.com
Are you prepared to go without turkey this Thanksgiving? Yes, it might
actually get that bad. So far, the worst outbreak of bird flu in U.S.
history has claimed the lives of more than 20 million
turkeys and chickens, and the pandemic continues to rage wildly out of
control. Once one bird becomes infected, this particular strain of the
virus is so virulent that it can virtually wipe out an entire flock in just a matter of days.
At this point, scientists think that this virus is being spread by wild
birds, but they have no idea how it is getting inside barns and other
enclosed facilities so easily. Considering how important turkey,
chicken and eggs are to our food supply, it is quite alarming that
scientists don’t really understand what is going on. If this bird flu
outbreak is not brought under control, how many birds will eventually
die? Right now, it is already in the tens of millions. Could the total
eventually reach into the hundreds of millions?Read More…
from Western Journalism:
International gaming and casino magnate Steve Wynn said this week in a PBS interview that the great economic recovery is pure fiction. The founder and CEO of Wynn Resorts told John Ralston of KNPB that labor statistics are inaccurate.
“Well, The idea that America is in the grips of a great recovery is pure fiction. It’s a lie. It’s not true. It’s a jobless recovery because recoveries are marked by the amount of real employment. And if you count the people who have left the work force, real unemployment is 15 to 20 percent.”
International gaming and casino magnate Steve Wynn said this week in a PBS interview that the great economic recovery is pure fiction. The founder and CEO of Wynn Resorts told John Ralston of KNPB that labor statistics are inaccurate.
“Well, The idea that America is in the grips of a great recovery is pure fiction. It’s a lie. It’s not true. It’s a jobless recovery because recoveries are marked by the amount of real employment. And if you count the people who have left the work force, real unemployment is 15 to 20 percent.”
from Zero Hedge:
“… part of the problem today is that over the last 15-20 years,
capitalism has been propped up every time it’s about to go through one
of the cyclical creative destruction phases. Compounded up that’s left
us with a big mess to clear up across the globe and a lot of sub
optimal resource allocation. So across a lot of the Western
World we’re left with too much debt, too much inequality, low real wage
growth, limited conventional tools to help the economy to de-lever, QE
and ZIRP and a political backlash against the mainstream.”
Read More @ ZeroHedge.com
“… part of the problem today is that over the last 15-20 years,
capitalism has been propped up every time it’s about to go through one
of the cyclical creative destruction phases. Compounded up that’s left
us with a big mess to clear up across the globe and a lot of sub
optimal resource allocation. So across a lot of the Western
World we’re left with too much debt, too much inequality, low real wage
growth, limited conventional tools to help the economy to de-lever, QE
and ZIRP and a political backlash against the mainstream.”Read More @ ZeroHedge.com
from The Daily Sheeple:
TDS Editor’s Note: Our nation is run by megacorporations who benefit immensely off a captive population of modern-day slaves. Must be why we put more people in prison per capita than any other country even though we are not the largest.
The US is breeding a Chinese-style prison labor scheme on its own soil. States and some of the biggest private companies are now enjoying the fruits of a cheap and readily available work force, with tens of millions of lobbying dollars spent by private prisons to keep their jails full.
from Western Journalism:
A bill proposed by Sen. Bernie Sanders, I-Vt., would require the
biggest banks in the nation to dissolve. Sanders is challenging former
secretary of state and first lady Hillary Clinton for the 2016
Democratic presidential nomination.
The “Too Big to Fail, Too Big to Exist Act” would mandate the dissolution of J.P. Morgan Chase, Citigroup, Goldman Sachs, Bank of America, and Morgan Stanley within one year of the bill’s enactment, according to a summary.
It would also require the creation of a “Too Big to Fail List” of banks who “pose a threat to the financial system.”
TDS Editor’s Note: Our nation is run by megacorporations who benefit immensely off a captive population of modern-day slaves. Must be why we put more people in prison per capita than any other country even though we are not the largest.
The US is breeding a Chinese-style prison labor scheme on its own soil. States and some of the biggest private companies are now enjoying the fruits of a cheap and readily available work force, with tens of millions of lobbying dollars spent by private prisons to keep their jails full.
from Western Journalism:
A bill proposed by Sen. Bernie Sanders, I-Vt., would require the
biggest banks in the nation to dissolve. Sanders is challenging former
secretary of state and first lady Hillary Clinton for the 2016
Democratic presidential nomination.The “Too Big to Fail, Too Big to Exist Act” would mandate the dissolution of J.P. Morgan Chase, Citigroup, Goldman Sachs, Bank of America, and Morgan Stanley within one year of the bill’s enactment, according to a summary.
It would also require the creation of a “Too Big to Fail List” of banks who “pose a threat to the financial system.”
[Ed. Note: Roundup Ready Opium?!? – Mike Rivero]
from Yahoo:
It’s the cash crop of the Taliban and the scourge of Afghanistan — the
country’s intractable opium cultivation. This year, many Afghan poppy
farmers are expecting a windfall as they get ready to harvest opium from
a new variety of poppy seeds said to boost yield of the resin that
produces heroin.
The plants grow bigger, faster, use less water than seeds they’ve used before, and give up to double the amount of opium, they say.
No one seems to know where the seeds originate from. The farmers of Kandahar and Helmand provinces, where most of Afghanistan’s poppies are grown, say they were hand-delivered for planting early this year by the same men who collect the opium after each harvest, and who also provide them with tools, fertilizer, farming advice — and the much needed cash advance.
Read More @ news.Yahoo.com
from Yahoo:
It’s the cash crop of the Taliban and the scourge of Afghanistan — the
country’s intractable opium cultivation. This year, many Afghan poppy
farmers are expecting a windfall as they get ready to harvest opium from
a new variety of poppy seeds said to boost yield of the resin that
produces heroin.The plants grow bigger, faster, use less water than seeds they’ve used before, and give up to double the amount of opium, they say.
No one seems to know where the seeds originate from. The farmers of Kandahar and Helmand provinces, where most of Afghanistan’s poppies are grown, say they were hand-delivered for planting early this year by the same men who collect the opium after each harvest, and who also provide them with tools, fertilizer, farming advice — and the much needed cash advance.
Read More @ news.Yahoo.com
from Wolf Street:
“I wonder whether we’re not living in a new world in which governments
no longer control as much as they think they control,” Mohamed El-Erian,
Allianz chief economic advisor, told the crowd of hedge fund gurus at the annual SALT conference on Wednesday.
Maybe he’s on to something.
Acting under pressure from many Eurozone governments that believe it will save their hides, and acting out of its central-bank logic, the ECB is trying bash down the euro. For years, it threatened to print money. Now it is actually printing money and buying debt, and it’s inflicting its negative deposit rates on the markets. This drove much of European sovereign debt into the absurdity of “negative” yields – in quotation marks because logically, there should never be such a thing. But in this upside down era of central-bank deities, everything is possible.
Read More @ Wolfstreet.com
“I wonder whether we’re not living in a new world in which governments
no longer control as much as they think they control,” Mohamed El-Erian,
Allianz chief economic advisor, told the crowd of hedge fund gurus at the annual SALT conference on Wednesday.Maybe he’s on to something.
Acting under pressure from many Eurozone governments that believe it will save their hides, and acting out of its central-bank logic, the ECB is trying bash down the euro. For years, it threatened to print money. Now it is actually printing money and buying debt, and it’s inflicting its negative deposit rates on the markets. This drove much of European sovereign debt into the absurdity of “negative” yields – in quotation marks because logically, there should never be such a thing. But in this upside down era of central-bank deities, everything is possible.
Read More @ Wolfstreet.com
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