Submitted by Tyler Durden on 07/27/2015 - 21:18 “China’s market is so distorted, you can’t sell short very confidently and you can’t buy up very confidently either," warns one Hong Kong-based asset manager as despite massive "measures" and manipulation, Chinese stocks extend yesterday's stunning losses (CSI-300 -5% at the open, Shanghai -4.1%). As Bloomberg reports, investors “are concerned and lost," although government officials tried to claim the situation by explaining they will "continue efforts to stabilize market and investor sentiment, and prevent systemic risk." As stocks continued to fall, the market is summed up by the opposing views of one broker noting "China won't tolerate a worsening stock market, so those state-backed financial institutions may start buying," and another who warned "it's hard to start a new up move after a bubble bursts... I don't think they are able to prevent it falling."
Things in the real world remain chaotic, with today’s feature being the
renewed crash in Chinese stocks. This is in spite of the draconian
measures put in place by the Chinese authorities to counteract the
initial crash. Things like jailing short sellers, not allowing major
financial entities to sell stocks, etc, are preposterous. But the
Chinese have run a command economy and now they think they can command
markets. I think they are going to find out, to their sorrow, that
markets are a different beast.This Will Have Global Consequences
This is very significant from a global perspective. The Chinese have been the world’s major economic engine, as their economy recovered more dynamically those of the Western world in the wake of the global financial crisis. However, it was some what of an illusion, as somewhere in the neighborhood of $20 trillion in new debt was created in order to generate this recovery in China.
John Embry continues @ King World News
Global Plunge Protection Team Rescues Chinese Stocks Back To Unchanged At Break
Submitted by Tyler Durden on 07/27/2015 - 23:31 In what appears like a coordinated USDJPY-driven intervention, the Panic Plunge Protection Team has swung into action not once but twice tonight so far. After China opened down between 5% and 7%, and initial momentum bounce from USDJPY failed onlyt to be followed by a bigger more energentic push to get Shaghai Composite back to unchanged... but Chinese stocks are once again losing momentum...
Introducing "Trickle-Out Oligarch Economics" - How Over $21 Trillion In Wealth Fled Offshore
Submitted by Tyler Durden on 07/27/2015 - 22:45 The world’s super-rich have taken advantage of lax tax rules to siphon off at least $21 trillion, and possibly as much as $32tn, from their home countries and hide it abroad – a sum larger than the entire American economy. What we need is fundamental systemic change. This means truly restructuring the entire financial system, from Central Bank power, to Wall Street funding both political parties, to lengthy jail sentences for financial criminals. If we do that, oligarchs won’t be able to parasitically amass billions so easily in the first place.
UK Government Admits 250,000 Porn Websites Visited On Parliament PCs
Submitted by Tyler Durden on 07/27/2015 - 22:15 ...attempts to access more than 42,000 sites classed as pornographic from the UK Parliament’s computer network were made during April alone, totaling more than 1,300 each day.
The Irony Of Market Manipulation
Submitted by Tyler Durden on 07/27/2015 - 21:45 Having gazed ominously at the extreme monetary policy smoke-and-mirrors intervention in bond markets, and previously explained that "the stock market is to important to leave to the vagaries of an actual market." While the rest of the world's central banks' direct (BoJ) and indirect (Fed, ECB) manipulation of equity markets, nobody bats an eyelid; but when PBOC steps on market volatility's throat (like a bull in a China bear store), people start complaining... finally. There is no difference - none! And no lesser Asian expert than Stephen Roach warns that we should be afraid, very afraid as he states, the great irony of manipulation, he explains, is that "the more we depend on markets, the less we trust them."
Elon Musk Is Preparing For The Killer Robot Wars Of Tomorrow
Submitted by Tyler Durden on 07/27/2015 - 21:15 "A global arms race is virtually inevitable, and the endpoint of this technological trajectory is obvious: autonomous weapons will become the Kalashnikovs of tomorrow. Unlike nuclear weapons, they require no costly or hard-to-obtain raw materials, so they will become ubiquitous and cheap for all significant military powers to mass-produce. It will only be a matter of time until they appear on the black market and in the hands of terrorists, dictators and warlords."
Chess Vs Checkers - John Kerry Edition
Submitted by Tyler Durden on 07/27/2015 - 20:45 Presented with no comment...
Beware, The Disappearing Retirement Fund
Submitted by Tyler Durden on 07/27/2015 - 20:15 Recently, the US Supreme Court ruled that employers have a duty to protect workers invested in their 401(k) plans from mutual funds that perform poorly or are too expensive. By passing this ruling, the US government has the power to seize private pension funds “to protect pensioners”. It also has the authority to dictate how funds may be invested. The way is now paved for the requirement that 401(k)s be invested heavily in US Treasuries.Commodity Carnage Will Hurt These 10 States The Most
Submitted by Tyler Durden on 07/27/2015 - 19:50
Why China Will End Up Like Japan
Submitted by Tyler Durden on 07/27/2015 - 19:25 Just as Japan thought they could go back to pre-Plaza Accord growth rates by holding on to the old ways in the 1990s, the Chinese will expect the growth miracle to return in 2016 with the “right” policies. It will not. It is all a mirage though. Just as in Japan, the Chinese will not allow the market process to do its magic to get the economy back on a stable footing. Draconian measures to stop the recent stock market rout are a clear testimony of that. In other words, the Chinese economy will resemble that of Japan, and it will do so very soon, if it is not already there. China is heading straight into a zero growth environment, and will be mired there for years to come.
Majority Of Americans Now See Guns As The Solution To Mass Shootings
Submitted by Tyler Durden on 07/27/2015 - 19:05 Obama failed: in the aftermath of the 2012 Newtown, CT school massacre which left 26 unarmed, defenseless people dead, the president pushed as hard as he could to pass legislation that would enact strict gun control and further limit the applicability of the Second Amendment. Not only did he not succeed, but according to a 2014 Pew Research Poll there has been a 9% rise in the number of Americans who think gun ownership could "protect people from becoming victims of crime."
A Philadelphia Story - 30 Blocks Of Squalor & Government Incompetence
Submitted by Tyler Durden on 07/27/2015 - 18:54 The 30 blocks of squalor from 69th Street in Upper Darby to 39th Street in West Philly is a tribute to government incompetence, failed government policies, shoddy union labor practices and fiscal mismanagement.
When Scary Headlines Don't Scare - Climbing The Wall Of Complacency
Submitted by Tyler Durden on 07/27/2015 - 18:35 The U.S. economy is growing at a painfully slow pace. Greece still threatens the euro. Chinese stocks have just pulled out of a frightening free-fall. Big companies in the U.S. are struggling to boost profits. You might think it's been a rough year for investors, but it's mostly been a smooth ride - and a profitable one. "Things have worked out," scoffs one analyst "and that has emboldened investors." Maybe too much...
Donald Trump and Bernie Sanders are rising in the polls and seemingly
pose a threat to the political establishment. Come the 2016 primaries,
however, Jeb Bush and Hillary Clinton will likely be at the top of the
pack. The oligarchy that has controlled American politics for
generations is still firmly in control despite the illusion of change.
In no way do Trump or Sanders threaten this control despite the
corporate media’s fascination with them and polls that appear to show
them gaining favor among potential voters. A CNN-ORC International poll conducted between July 22-25 demonstrates the dominance of the establishment’s candidates. While Donald Trump matches Jeb Bush, his unfavorability rating is high. Clinton’s is higher, but despite this she remains solidly at the top of the pack. Trump’s brash commentary has pushed him up in the polls, but many believe he has reached his peak. Diehard Republican insiders hate the real estate mogul.
Read More @ Infowars.com
by Amy Goodrich, Natural News:
Finally our efforts to avoid processed foods and Frankenfoods are
paying off. For the first time in decades McDonald’s is struggling and
has to close more restaurants than it opens after worldwide drops in
sales. According to an Associated Press review of McDonald’s regulatory filings, this hasn’t happened since 1970.
Earlier this year the fast food giant announced the closing of 350 underperforming locations, but recently admitted it had to close an additional 350 restaurants in the U.S., Japan, and China. The closings include both franchises and company-owned locations.
While this number may seem small compared to their total of about 14,300 locations, the iconic “Golden Arches” are under fire. McDonald’s has reported an 11 percent decrease in revenue and a 30 percent drop in profit for the first three months of 2015. This is a continuation of their struggle as the competition in the US and Europe is getting tougher and food safety issues in Asia had to be addressed.
Read More @ NaturalNews.com
Finally our efforts to avoid processed foods and Frankenfoods are
paying off. For the first time in decades McDonald’s is struggling and
has to close more restaurants than it opens after worldwide drops in
sales. According to an Associated Press review of McDonald’s regulatory filings, this hasn’t happened since 1970.Earlier this year the fast food giant announced the closing of 350 underperforming locations, but recently admitted it had to close an additional 350 restaurants in the U.S., Japan, and China. The closings include both franchises and company-owned locations.
While this number may seem small compared to their total of about 14,300 locations, the iconic “Golden Arches” are under fire. McDonald’s has reported an 11 percent decrease in revenue and a 30 percent drop in profit for the first three months of 2015. This is a continuation of their struggle as the competition in the US and Europe is getting tougher and food safety issues in Asia had to be addressed.
Read More @ NaturalNews.com
from The Wealth Watchman:
For months, silver has been experiencing record sales while retail gold sales at Western mints have been truly asleep. This price dive has now awakened some very pent up demand, producing some of the largest demand numbers seen in years. This chart of US Mint demand for the month of July speaks for itself…
Read More…
Records Keep Shattering
Last week’s price action, as we know, saw gold being dragged in a monstrous shorting undertow
that left gold & silver spot prices at weekly closes under $1,100
and $15, respectively. The reason why this is happening is something
I’ve covered at great length, but the affect which these new price lows
are having on retail and wholesale demand are colossal!For months, silver has been experiencing record sales while retail gold sales at Western mints have been truly asleep. This price dive has now awakened some very pent up demand, producing some of the largest demand numbers seen in years. This chart of US Mint demand for the month of July speaks for itself…
Read More…
by Pater Tenebrarum, Acting-Man.com:
Another “Oops!” Moment in Shanghai
Is there anything the Chinese authorities haven’t tried yet in their attempt to manipulate the Shanghai stock market back up again? Off the cuff there’s nothing we can think of, except maybe shutting the market down entirely.
As we have previously pointed out, Chinese investors have fallen prey to the “potent directors fallacy” (a fortuitous term once coined by Robert Prechter) – in fact, China is currently a prime example of this fallacy in action. The term essentially describes the misguided belief that political authorities can somehow suspend economic laws or will always be successful in manipulating financial market trends. The truth is that they can never stop a primary trend from unfolding. This is not to say that they cannot succeed in manipulating market prices at all – in fact, they will usually succeed in doing so over quite lengthy time periods. Given that the authorities have control over money supply growth and administered interest rates, they can certainly provide the necessary tinder to make asset prices rise or stop them from rising. But preventing a decline of an overvalued bubble market in which thousands of inexperienced traders are long on margin is a very tall order indeed, and the actions taken by the authorities appear to be backfiring in this case.
Read More @ Acting-Man.com
Another “Oops!” Moment in ShanghaiIs there anything the Chinese authorities haven’t tried yet in their attempt to manipulate the Shanghai stock market back up again? Off the cuff there’s nothing we can think of, except maybe shutting the market down entirely.
As we have previously pointed out, Chinese investors have fallen prey to the “potent directors fallacy” (a fortuitous term once coined by Robert Prechter) – in fact, China is currently a prime example of this fallacy in action. The term essentially describes the misguided belief that political authorities can somehow suspend economic laws or will always be successful in manipulating financial market trends. The truth is that they can never stop a primary trend from unfolding. This is not to say that they cannot succeed in manipulating market prices at all – in fact, they will usually succeed in doing so over quite lengthy time periods. Given that the authorities have control over money supply growth and administered interest rates, they can certainly provide the necessary tinder to make asset prices rise or stop them from rising. But preventing a decline of an overvalued bubble market in which thousands of inexperienced traders are long on margin is a very tall order indeed, and the actions taken by the authorities appear to be backfiring in this case.
Read More @ Acting-Man.com
from TheAlexJonesChannel:
by Jeff Nielson, Bullion Bulls:
While surfing at SGT Report; I spotted an article warning of a new U.S.
law now working its way through the Corrupt Congress, H.R. 2899, the
“Countering Violent Extremism” Act. It was sponsored (surprise!
surprise!) by a Texas Republican, arguably the “reddest” of U.S.
red-necks.
The gist of the bill is to establish a new “office” as part of the totally Orwellian, Department of Homeland Security. The new office is to be called, naturally, the “Office for Countering Violent Extremism”. It’s primary responsibility will be to manufacture enormous mounds of “counter-terrorist” propaganda. To quote:
Establishing a counter-messaging program to craft strategic counter-messages to the [“terrorist”] propaganda and messaging…
In other words; supposedly Americans are being bombarded by so much “terrorist propaganda” that the (totally innocent) U.S. government now needs to BEGIN to (openly) manufacture its own propaganda. Supposedly, up to now, the U.S. government has not been engaging in any propaganda campaigns.
Read More BullionBullsCanada.com
While surfing at SGT Report; I spotted an article warning of a new U.S.
law now working its way through the Corrupt Congress, H.R. 2899, the
“Countering Violent Extremism” Act. It was sponsored (surprise!
surprise!) by a Texas Republican, arguably the “reddest” of U.S.
red-necks.The gist of the bill is to establish a new “office” as part of the totally Orwellian, Department of Homeland Security. The new office is to be called, naturally, the “Office for Countering Violent Extremism”. It’s primary responsibility will be to manufacture enormous mounds of “counter-terrorist” propaganda. To quote:
Establishing a counter-messaging program to craft strategic counter-messages to the [“terrorist”] propaganda and messaging…
In other words; supposedly Americans are being bombarded by so much “terrorist propaganda” that the (totally innocent) U.S. government now needs to BEGIN to (openly) manufacture its own propaganda. Supposedly, up to now, the U.S. government has not been engaging in any propaganda campaigns.
Read More BullionBullsCanada.com
by Philippe Gastonne, The Daily Bell:
Last week we featured a refreshingly candid retired U.S. general. Today
we have another one, who is far too candid in the opposite direction.
General Wesley Clark thinks the government should send “radicalized”
Americans to internment camps. We need not explain to Daily Bell readers
the many reasons this is wrong. The story is significant for other
reasons.
First, General Clark doesn’t otherwise fit in the right wing, law-and-order camp. He made a brief presidential bid in 2004 on the Democratic side and was very critical of the Bush administration’s anti-terror tactics and Middle East interventions. Yet now he wants to round up and imprison radical Muslims. This demonstrates that politicians across the spectrum threaten civil liberties. They differ only on the details.
Second, he floated his argument on the supposedly “progressive” MSNBC network. The interviewer didn’t question the idea, either. Truly professional journalists are usually quick to notice threats to freedom of speech – or at least in the past. Not this time.
Read More @ TheDailyBell.com
Last week we featured a refreshingly candid retired U.S. general. Today
we have another one, who is far too candid in the opposite direction.
General Wesley Clark thinks the government should send “radicalized”
Americans to internment camps. We need not explain to Daily Bell readers
the many reasons this is wrong. The story is significant for other
reasons.First, General Clark doesn’t otherwise fit in the right wing, law-and-order camp. He made a brief presidential bid in 2004 on the Democratic side and was very critical of the Bush administration’s anti-terror tactics and Middle East interventions. Yet now he wants to round up and imprison radical Muslims. This demonstrates that politicians across the spectrum threaten civil liberties. They differ only on the details.
Second, he floated his argument on the supposedly “progressive” MSNBC network. The interviewer didn’t question the idea, either. Truly professional journalists are usually quick to notice threats to freedom of speech – or at least in the past. Not this time.
Read More @ TheDailyBell.com
from TheMoneyGPS:
by Brittany M. Hughes, CNSnews:
The inspectors general for the U.S. State Department and the U.S.
Intelligence Community issued a joint written statement late Friday
afternoon asserting that emails that Hillary Clinton had on her personal
email account while she was Secretary of State, and that she kept on a
personal server after she left the government, “contained classified
information when they were generated,” “remain classified today” and
“should never have been transmitted via an unclassified personal
system.”
This joint statement the two inspectors general issued late Friday contradicts what former Secretary Clinton said about the emails on Saturday.
So far, the inspector general for the Intelligence Community has only been allowed to review a sample of 40 out of the total of 30,000 emails from Clinton’s private email server that Clinton has turned over to the State Department. Of that limited sample of 40, 4 contained classified information.
Read More @ CNSnews.com
The inspectors general for the U.S. State Department and the U.S.
Intelligence Community issued a joint written statement late Friday
afternoon asserting that emails that Hillary Clinton had on her personal
email account while she was Secretary of State, and that she kept on a
personal server after she left the government, “contained classified
information when they were generated,” “remain classified today” and
“should never have been transmitted via an unclassified personal
system.”This joint statement the two inspectors general issued late Friday contradicts what former Secretary Clinton said about the emails on Saturday.
So far, the inspector general for the Intelligence Community has only been allowed to review a sample of 40 out of the total of 30,000 emails from Clinton’s private email server that Clinton has turned over to the State Department. Of that limited sample of 40, 4 contained classified information.
Read More @ CNSnews.com
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