by M. David, Counter Current News:
Much to the surprise of the general public, the U.S. Supreme Court has
ruled in favor of expanded the ability of law enforcement to search
without warrants.
Justice Samuel Alito wrote for the majority of the court which ruled 6 to 3 that “when occupants of a residents disagree on whether they will admit police without a warrant, the objecting occupant must be physically present,” the Washington Post reported. “That doesn’t change if police have removed the objector,” the court added.
“An occupant who is absent due to a lawful detention or arrest stands in the same shoes as an occupant who is absent for any other reason,” Justice Samuel A. Alito Jr. wrote.
Read More @ CounterCurrentNews.com
h/t WhatReallyHappened.com
Much to the surprise of the general public, the U.S. Supreme Court has
ruled in favor of expanded the ability of law enforcement to search
without warrants.Justice Samuel Alito wrote for the majority of the court which ruled 6 to 3 that “when occupants of a residents disagree on whether they will admit police without a warrant, the objecting occupant must be physically present,” the Washington Post reported. “That doesn’t change if police have removed the objector,” the court added.
“An occupant who is absent due to a lawful detention or arrest stands in the same shoes as an occupant who is absent for any other reason,” Justice Samuel A. Alito Jr. wrote.
Read More @ CounterCurrentNews.com
h/t WhatReallyHappened.com
Greece Admits It Will Not Make IMF Payment On Friday, No Deal Expected Wednesday
Submitted by Tyler Durden on 06/03/2015 - 07:48 "Greece will not make a June 5 repayment to the International Monetary Fund if there is no prospect of an aid-for-reforms deal with its international creditors soon," Reuters reports. PM Alexis Tsipras will meet with European Commission President Jean-Claude Juncker Wednesday evening, but no deal is expected today.
by SGT, SGT Report.com:
Steve St. Angelo of SRSroccoreport.com joins me to cover the very latest in the gold and silver markets. As we note, Bloomberg’s mockingbird journalist Nicholas Larkin recently wrote that if China could obtain 10,000 TONS of gold, it would justify a re-pricing of gold to $64,000 ounce. However, Larkin argues that China has well under 2,000 tons by referencing the nation’s last official report from 2009. Steve and I discuss how it’s far more likely that China already has 10,000 Tons of gold NOW! So… what happens to the gold price once China officially updates its six year old “official” number… huh Bloomberg?!
We also talk about the curious case of record physical silver imports by the US government and the big move just ahead for silver. Will it finally be UP? Or is it going down further at the hands of the commercial banks and their burgeoning new short positions?
As for the macro-economic outlook, Steve offers a reality check, about the current state of the global paper Ponzi scheme, “The inflation we should really be seeing is astronomical, but people think get a statement and it says you’ve got a half a million in your retirement. Well that’s where the inflation went. It’s all in these paper assets, and they’re going to implode. And then we’re really going to see what inflation is,” Steve says. He concludes, “So I think it’s going to destroy the net present value of most paper assets, and we are going to see a huge recalculation of what it actually costs to buy something.”
Steve St. Angelo of SRSroccoreport.com joins me to cover the very latest in the gold and silver markets. As we note, Bloomberg’s mockingbird journalist Nicholas Larkin recently wrote that if China could obtain 10,000 TONS of gold, it would justify a re-pricing of gold to $64,000 ounce. However, Larkin argues that China has well under 2,000 tons by referencing the nation’s last official report from 2009. Steve and I discuss how it’s far more likely that China already has 10,000 Tons of gold NOW! So… what happens to the gold price once China officially updates its six year old “official” number… huh Bloomberg?!
We also talk about the curious case of record physical silver imports by the US government and the big move just ahead for silver. Will it finally be UP? Or is it going down further at the hands of the commercial banks and their burgeoning new short positions?
As for the macro-economic outlook, Steve offers a reality check, about the current state of the global paper Ponzi scheme, “The inflation we should really be seeing is astronomical, but people think get a statement and it says you’ve got a half a million in your retirement. Well that’s where the inflation went. It’s all in these paper assets, and they’re going to implode. And then we’re really going to see what inflation is,” Steve says. He concludes, “So I think it’s going to destroy the net present value of most paper assets, and we are going to see a huge recalculation of what it actually costs to buy something.”
Diminishing, Available Gold SupplyAs another week just passed by, with mainstream “economists” and “media” chuckling at gold, laughing harder at silver, and just plain “keeling over” at the thought of stackers actually still buying those metals, a few noteworthy items went under the radar. These stories are very pertinent both to stackers, as well as to the ongoing fight between the Eastern Bloc and the Western banksters. Mainstream media did not make much noise on these items, hoping that you’ll simply take their advice, put your life savings into CD’s(handsomely rewarding you with a hefty 0ish %!), and stay on their “treadmill to nowhere”, in the rat race that is all but destroying what’s left of the heart and soul in our generation.
Read More…
This Is How The IMF Just Lost Its Last Shred Of Credibility
Submitted by Tyler Durden on 06/03/2015 - 11:15 A new research paper from none other than the IMF has a unique observation for heavily-indebted countries: "It is better to live with the debt than to pay it down."
As Hope Lifts Athens Stocks, German Vice Chancelleor Warns Of "Gigantic Consequences" If Greek Talks Fail
Submitted by Tyler Durden on 06/03/2015 - 09:03 Despite all the reassurances by various leaders that any Grexit or Greek bankruptcy would be 'contained', Sigmar Gabriel - vice-chancellor and economic minister of Germany's SPD party - unleashed some uncomfortable truthiness yesterday. With Greek stocks up almost 5% today as hope springs eternal, Gabriel warned of nothing less than “gigantic consequences” for Europe in case of a Greek bankruptcy.
Last Thursday, 29-year old Thomas J. Hughes, later described by his brother as “one of the happiest people I know,” allegedly took his life by jumping from a luxury apartment building at 1 West Street in Manhattan. Before any serious investigation had taken place, the New York tabloids had dismissed the matter as a suicide. Hughes was an investment banker on Wall Street.
In any serious investigation, law enforcement is required to look at any potential motive for foul play. But when it comes to serial deaths among Wall Street bankers and technology personnel, occurring repeatedly over the last 18 months in highly unusual circumstances, the deaths are almost instantaneously labeled non-suspicious by the police. But there are two glaring motives for foul-play in almost all of these deaths involving Wall Street or global banks.
First, major Wall Street banks hold hundreds of BILLIONS of dollars of life insurance on their workers, and even prior workers, effectively betting that an early death will pay off big for the corporation.
Read More @ WallStreetonParade.com
How Jamie Dimon Became A Billionaire
Submitted by Tyler Durden on 06/03/2015 - 10:19 Two years ago, bank analyst Mike Mayo asked JPM chief Jamie Dimon a simple question: why should affluent customers not pick UBS over JPM due to a mismatch in capital ratios, to which Dimon's response was even simpler: "that's why I'm richer than you." To which we then added: "No logic, no rationale: all about the bottom line, which to Jamie at least is all that matters. The bottom line was indeed all, because as Bloomberg calculated overnight, over the past several years, Jamie Dimon quietly became not just "richer than you", but "much" richer: his net worth is now well over $1 billion!
Bunds Crater Most This Century
Submitted by Tyler Durden on 06/03/2015 - 09:44 It appears Draghi's comments are not what the market wanted to hear.Bunds have crashed over 30bps in the last 2 days... the biggest 2-day spike since Oct 1998...
Being Healthy Is Unprofitable
Submitted by Tyler Durden on 06/03/2015 - 10:51 U.S. healthcare is unsustainable. That it will break in the next decade is predictable. We are collectively wandering the beach, picking up seashells, while a mighty tsunami wave is approaching that will wash everyone on the beach away. We can either deal with the lifestyle and cultural causes of our mounting ill health or be swept away when the system crashes.
WTI Crude Pumps-And-Dumps As Increased Production Trumps Surprise Inventory Draw
Submitted by Tyler Durden on 06/03/2015 - 10:37 Following last night's inventory build report from API, expectations adjusted to a 818k build for the DOE data this morning. However, for the 5th week in a row, DOE reported a draw (this time of 1.95 million barrels). WTI Crude had rallied into the data but was still in the red from yesterday's close and spiked on the inventory news. However, once the machines had a chance to see that production rose once again - to a new cycle record - prices began to slide....Mario Draghi's "Moar Is Still Needed Despite Progress" ECB Press Conference - Live Feed
Submitted by Tyler Durden on 06/03/2015 - 08:25 After leaving policy unchanged, Mario Draghi takes questions on PSPP effects, bond market volatility, Greece, inflation, and QE flexibility.- ECB CUTS ECONOMIC GROWTH FORECAST FOR 2017 TO 2% VS 2.1%
- DRAGHI: ECB KEEPS INFLATION FORECASTS UNCHANGED FOR 2016, 2017
Draghi's "Expect More Volatility" Comments Spark Turmoil Across Markets
Submitted by Tyler Durden on 06/03/2015 - 09:30 Bond yields are surging higher (in UST and Bunds) and stocks fading as Draghi offered a mere glimpse at more pre-commitments but warned:*DRAGHI: MARKETS MUST GET USED TO PERIODS OF HIGHER VOLATILITY
10Y Bunds just hit 80bps, up another 9 bps today for a 2-day spike of a stunning 35bps!
Russian Ruble Tumbles To 2-Month Lows, Stocks Drop Following "Large-Scale" Rebel Offensive In Ukraine
Submitted by Tyler Durden on 06/03/2015 - 09:21 The Ruble just hit 54/USD - its weakest since early April - as IFX reports a "large-scale" rebel offensive in eastern Ukraine involving 10 tanks and around 1000 troops. Ukraine's military has redeployed troops to halt this rebel offensive and has informed its international partners on the re-deployment which leaves The Minsk Accord hanging by a thread.
Are Stocks Due For A Big Move?
Submitted by Tyler Durden on 06/03/2015 - 08:43 With last month’s failed (so far) breakout in the U.S. equity market, stocks are relegated once again to range-bound status. Essentially the market has gone nowhere since the beginning of the year and, by some measures, 2015 has been the quietest start to a year in over a century. One characteristic of the stagnant action has been a lack of out-sized daily moves in the market, up or down. This is the index’s longest streak without a 2% day since the one that ended on June 1, 2012 at…111 days.
Trade Deficit Shrinks 19% In April Driven By Drop In Imports
Submitted by Tyler Durden on 06/03/2015 - 08:37 After March's six-year high disastrous kitchen-sink trade deficit revised down to -$51.4 billion, April saw a bounce back to just $40.9 billion deficit (considerably lower deficit than the $44 billion expectation). The imporvment was driven by a big shift in imports - dropping 3.3% (after a 6.5% jump in March) as exports rose just 1% (which is still the most in 2015).
by Michael Snyder, The Economic Collapse Blog:
If we are not heading into a recession, why does our economy continue
to act as if that is precisely what is happening? As you will see
below, we learned this week that factory orders have declined year over
year for six months in a row. That is something that has never happened
outside of a time of recession. We have also seen new orders for
consumer goods fall dramatically. In fact, the only time we have seen a
more dramatic decline in that number was during the last recession.
And when you add these two items to what I have written about
previously, the overall economic picture becomes even more disturbing.
Corporate profits have fallen for two quarters in a row, our exports fell by 7.6 percent during the first quarter of 2015, and U.S. GDP contracted by 0.7 percent
during Q1. Even though Barack Obama and the mainstream media are
willingly ignoring them, the truth is that these numbers are absolutely
screaming that we are going into a new recession.
Read More…
If we are not heading into a recession, why does our economy continue
to act as if that is precisely what is happening? As you will see
below, we learned this week that factory orders have declined year over
year for six months in a row. That is something that has never happened
outside of a time of recession. We have also seen new orders for
consumer goods fall dramatically. In fact, the only time we have seen a
more dramatic decline in that number was during the last recession.
And when you add these two items to what I have written about
previously, the overall economic picture becomes even more disturbing.
Corporate profits have fallen for two quarters in a row, our exports fell by 7.6 percent during the first quarter of 2015, and U.S. GDP contracted by 0.7 percent
during Q1. Even though Barack Obama and the mainstream media are
willingly ignoring them, the truth is that these numbers are absolutely
screaming that we are going into a new recession.Read More…
from USA Watchdog:
Finance and economic writer David Morgan thinks the global economy very likely could take a sudden turn for the worst.
Morgan says, “There is going to be a panic buy into the metals, and there is only so much to go around. . . . The way things have gone from the 2008 financial crisis until now have only gotten worse. . . . I don’t think we are going to have a hyperinflation, but what I do believe is there will be a panic exit out of currencies. That event will cause people to run for the most trusted money that exists, and that is gold and silver. The other thing is you cannot have currency anymore. That is a double edged sword because if you can’t have currency anymore . . . people will think if I can’t have currency anymore, guess what I can have? Gold and silver, and they can’t get around that. . . .People that can think will go to the money of all time, and that is gold and silver.”
Read More @ USAWatchdog.com
Finance and economic writer David Morgan thinks the global economy very likely could take a sudden turn for the worst.
Morgan says, “There is going to be a panic buy into the metals, and there is only so much to go around. . . . The way things have gone from the 2008 financial crisis until now have only gotten worse. . . . I don’t think we are going to have a hyperinflation, but what I do believe is there will be a panic exit out of currencies. That event will cause people to run for the most trusted money that exists, and that is gold and silver. The other thing is you cannot have currency anymore. That is a double edged sword because if you can’t have currency anymore . . . people will think if I can’t have currency anymore, guess what I can have? Gold and silver, and they can’t get around that. . . .People that can think will go to the money of all time, and that is gold and silver.”
Read More @ USAWatchdog.com
from TruthNeverTold:
[Ed. Note: Sound familiar? When committing crimes against the people, just”lose” the evidence, right Lois Lerner? How convenient.]
from Bullion Star:
There Is NO PROOF That All Gold Is In Fort Knox
This post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits.
Every year the gold in Fort Knox is ‘audited’ by checking the official joint seals that were placed on all vault compartments during the continuing audits of U.S.-owned gold from 1974 until 1986, when allegedly 97 % of the gold was inspected. However, a Freedom Of Information Act request I’ve submitted in order to obtain all audit reports could not be honored. Seven reports are missing.
From at least 1944 the world reserve currency is the US dollar, which was backed by gold until 1971 and supported by gold ever since. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. The US official gold reserves are the world’s greatest by far at 8,134 metric tonnes. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic.
Read More @ BullionStar.com
from Bullion Star:
There Is NO PROOF That All Gold Is In Fort KnoxThis post is a sequel to A First Glance At US Official Gold Reserves Audits and Second Thoughts On US Official Gold Reserves Audits.
Every year the gold in Fort Knox is ‘audited’ by checking the official joint seals that were placed on all vault compartments during the continuing audits of U.S.-owned gold from 1974 until 1986, when allegedly 97 % of the gold was inspected. However, a Freedom Of Information Act request I’ve submitted in order to obtain all audit reports could not be honored. Seven reports are missing.
From at least 1944 the world reserve currency is the US dollar, which was backed by gold until 1971 and supported by gold ever since. There can be no world reserve currency without appropriate gold reserves supporting it, providing essential confidence and credibility. The US official gold reserves are the world’s greatest by far at 8,134 metric tonnes. The fact that 7 audit reports that should grant the existence of these reserves appear to be missing is problematic.
Read More @ BullionStar.com
from NextNewsNetwork:
BLACK SEA | The United States military has released shocking video taken from the deck of the USS Ross in the Black Sea. The video shows a Russian Su-24 attack aircraft buzzing the US Naval vessel who the Russians say was acting “aggressively.” A claim US officials deny citing normal operations in international waters.
BLACK SEA | The United States military has released shocking video taken from the deck of the USS Ross in the Black Sea. The video shows a Russian Su-24 attack aircraft buzzing the US Naval vessel who the Russians say was acting “aggressively.” A claim US officials deny citing normal operations in international waters.
from Kingworldnews:
I’m focused on the battle in the gold and silver markets. It
continues, as any attempts at upward moves in gold and silver are met
with unrelenting selling in the paper markets. As you know, this has
been going on for years, but has really intensified dramatically
recently. This isn’t surprising to me because gold and silver represent
real money and have for centuries. Thus they cannot be allowed to be
seen as viable alternatives to our current fiat currency system.
The Current System Is Doomed
No one knows this fact better than our incompetent Western central banks, which are desperate to keep this whole charade going as long as humanly possible. Unfortunately for them, the current system, which was born at Bretton Woods in 1944 and significantly altered in 1971 when President Nixon removed the gold backing from the reserve currency of the U.S. dollar, is doomed. The Chinese know it, the Russians know it, and many more countries and prominent individuals are arriving at the same conclusion with each passing day.
John Embry Continues @ King World News
I’m focused on the battle in the gold and silver markets. It
continues, as any attempts at upward moves in gold and silver are met
with unrelenting selling in the paper markets. As you know, this has
been going on for years, but has really intensified dramatically
recently. This isn’t surprising to me because gold and silver represent
real money and have for centuries. Thus they cannot be allowed to be
seen as viable alternatives to our current fiat currency system.The Current System Is Doomed
No one knows this fact better than our incompetent Western central banks, which are desperate to keep this whole charade going as long as humanly possible. Unfortunately for them, the current system, which was born at Bretton Woods in 1944 and significantly altered in 1971 when President Nixon removed the gold backing from the reserve currency of the U.S. dollar, is doomed. The Chinese know it, the Russians know it, and many more countries and prominent individuals are arriving at the same conclusion with each passing day.
John Embry Continues @ King World News
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![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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