Submitted by Tyler Durden on 07/24/2015 - 14:29
From 18,075 highs, The Dow Industrials - hit by a smorgasbord of missed earnings and weak guidance - has collapsed 600 points from its highs a week ago... This is the worst week for the Dow since January...
Dear CFTC: Here Is Today's Illegal "Spoofing" In Gold Futures
Submitted by Tyler Durden on 07/24/2015 - 15:23 As Nanex once again shows, having captured the exact "spoofing" moment, the action was all on the ask side, with a "spoofer" first representing a large sell order, and sending gold lower after 2:41pm, which remains on the order book, but which promptly vanishes once the actual price of gold crossed into the spoofer's "ask" following a subsequent ramp at 4:51pm.
The Death of Gold... Or Not!
Submitted by Tyler Durden on 07/24/2015 - 15:00 China will be a net buyer, and a net importer of physical gold for years to come. In and of itself that won’t necessarily cause a sharp rally in gold prices anytime soon, but gold acquisition from the Chinese state and her citizens, as well as emerging market central banks the world over will continue to provide support for the physical gold market. Those that have sold gold in the past few days (and there have been plenty in the ETF and futures markets) as a result of the “disappointing” number out of China may have just caused the capitulation event that typically marks the bottom of any bear market.
Did The Canary In The Credit Coalmine Just Croak: Capital One Credit Loss Provisions Soar By 60%
Submitted by Tyler Durden on 07/24/2015 - 14:40 The biggest shocker in COF's earnings release was something found between COF's top and bottom line: a surge in provisions for credit losses: at $1.1 billion this was a jump of 21% from Q1 and up a whopping 60% from the year prior. It was also the biggest credit loss provision the credit card company has taken since Q2 2012.These Assholes don't do ANYTHING... "ACCIDENTALLY"...
Fed "Accidentally" Released Dovish Confidential Market-Moving Forecasts, Blames "Glitch"
Submitted by Tyler Durden on 07/24/2015 - 11:29 First The 'unaudited' Fed leaks its FOMC minutes. Then they leak 'inside-information' to Nikkei's latest addition, Medley Global advisors (and remain "above the law" with regard consequences. And now, The Fed admits it leaked full blown confidential economic projections (due to a code glitch), whose summary assessment is shown below as per the leaked file.
Jim Grant On Gold's Liquidation Sale: A "Vexing But Wonderful Opportunity"
Submitted by Tyler Durden on 07/24/2015 - 11:20 "The important thing to recall is why those of us who own it, bought it. What is it about gold that ought to make it appealing – when it seems to be absolutely the thing you don’t want to have." As ValueWalk reports, Grant warned that gold thrives in the face of monetary turmoil, disorder and uncertainty, noting, "I think we have all three of these things."
Gold Spikes Back Above $1100, Bitcoin Jumps
Submitted by Tyler Durden on 07/24/2015 - 14:16 Gold is jumping after the overnight double flash-crash...testing back towards $1100... And another alternate currency is ripping. Bitcoin is back up to pre-"Greece is Fixed" levels...filed under (unt
Hillary Speaks In New York About Her Economic Policy - Live Webcast
Submitted by Tyler Durden on 07/24/2015 - 13:54 It is unclear if Clinton will received $250,000 for today's speech in New York which is expected to outline Blackrock's the presidential candidate's new tax agenda (profiled previously), but it is assured that any questions relating to the just broken news that Clinton lied about not sending any confidential emails will be duly muted.
Russia, China Delay "Holy Grail" Gas Pipeline Sequel As China's Economy Swoons
Submitted by Tyler Durden on 07/24/2015 - 13:46 In May, Chinese President Xi Jinping visited Moscow, where Gazprom Chief Executive Alexei Miller and China National Petroleum Corp Vice President Wang Dongjin signed a gas export deal which paves the way for 30 bcm/y to China via a new "Western Route." Now, slumping Chinese demand (a pervasive problem at the heart of the global commodities downturn), threatens to undercut the agreement.
Obama Has Arrived: The Kenya Kaption Kontest
Submitted by Tyler Durden on 07/24/2015 - 13:31 The Hillary scandal just got real. The commodity crash getting worse with every passing day. The BTFDers frozen in carbonite and even the biotechs are "wealth effecting." But at least the president is on top of it.
Can We All Stop Being Surprised By Company Earnings "Surprises"?
Submitted by Tyler Durden on 07/24/2015 - 13:25 According to the FT, S&P 500 earnings are on track to decline by about 2.6% year-over-year which is actually about 2% better than what analysts were expecting at the end of June. So this is turning out to be a better earnings season than must expected? Not really. This is just a continuation of the game where consensus expectations are moved lower and lower until companies can, you guessed it, “surprise” to the upside. And its not just for this quarter that growth expectations are taken lower, this happens for growth expectations multiple years out.filed under (unt
The DOJ and FBI are ONLY getting involved to Help Cover Up Everything Possible...
The FBI And DOJ Get Involved: Hillary Clinton Sent Confidential Emails From Her Personal Email Account
Submitted by Tyler Durden on 07/24/2015 - 13:12 It's not that Donald Trump needed much help in his juggernaut campaign across the GOP presidential primary with his lead at last check in the double digitts, but moments ago the flamboyant billionaire got an unexpected present from the WSJ which may have just crippled the chances of his biggest democrat competitor as well, Hillary Clinton. WSJ reports that according to an internal government review Hillary Clinton, as former Secretary of State, "sent at least four emails from her personal account containing classified information during her time heading the State Department."And now, at long last, it appears that both the FBI and the DOJ are finally getting involved.
Crude Slips After Oil Rig Count Surges By Most In 15 Months
Submitted by Tyler Durden on 07/24/2015 - 13:11 Total US rig count increased a somewhat stunning 19 last week to 876 - the highest since May. This is the biggest rise in rig count since August 2014. The oil rig count surged 21 to 659 - this is the biggest weekly rise since April 2014. Louisiana (up 7) and Texas (up 8) saw the biggest increases.
Peak Trumpnado? Republican 'Insiders' Are Banking On It
Submitted by Tyler Durden on 07/24/2015 - 12:40 About three quarters of Republican early-state insiders say they believe Donald Trump has peaked, but Politico reports, many acknowledge that may also be wishful thinking. Among New Hampshire Republican insiders, 73% say Trump has 'peaked', while, as Politico details, 81% of Hawkeye State Republicans said the same."I hope and pray that he has peaked," added another Granite State Republican,with a Democrat noting "if peaking is poll numbers, maybe, but this guy is far from done"filed under (unt
Is This Why Hillary Clinton Just Went Nuclear On Short-Term Capital Gains Tax?
Submitted by Tyler Durden on 07/24/2015 - 12:25 "Hillary Clinton will propose a revamp of capital-gains taxes that would hit some short-term investors with higher rates, part of a package of measures designed to prod companies to put more emphasis on long-term growth," WSJ reports. Interested to know who might be pulling the strings behind the scenes? Read on...
Crude Collapse Continues - WTI Trades $47 Handle, New 4-Month Lows, Credit Crashing
Submitted by Tyler Durden on 07/24/2015 - 12:24 The crude collapse continues... and HY energy credit risk spikes above 950bps...
The Middle East Nuclear Power Play No One Is Talking About
Submitted by Tyler Durden on 07/24/2015 - 12:10 With all eyes currently transfixed on Iran’s nuclear future, there is seemingly little attention being paid to another landmark Middle Eastern nuclear trend, spearheaded by Russia.
The End Of The Supercycle? Commodity "Capitulation" Arrives
Submitted by Tyler Durden on 07/24/2015 - 11:49 In a note by BofA's Michael Hartnett, the bank looks at the latest EPFR fund flows and concludes that the wave of commodity "capitulation" revulsion selling has finally arrived.
Stocks Are Not Cheap (And 'Growth' Won't Help)
Submitted by Tyler Durden on 07/24/2015 - 11:48 As commodities carnage and credit cracks, talking heads remain intentionally ignorant in there sheep-like mantra to buy and hold stocks no matter what. Ever hopeful that 'growth' and the 'future' will fix any and all over-valuations, even with the current record low number of stocks trading 'cheap', they continues to ignore the facts. As Professor Bruce Greenwald recently told Goldman Sachs, "if a cyclical is trading expensively, it doesn't really matter how fast it is growing because historically growth hasn’t created value for cyclicals. Absent growth, value cyclicals don’t look like good investments."Secretary of State John Kerry defended the recent deal to curb Iran’s nuclear program.
Critics say it’s weak, a bad deal and ramps up the arms race in the Middle East. If Congress does not vote to approve the deal, Kerry says, “We will have squandered the best chance we have to solve this problem through peaceful means.” Then, there is new news of secret side deals with the Iranians. Republicans say the Obama Administration will not release the details. Senator Tom Cotton says if parts of this deal are being kept secret, then “. . . What other elements may also be secret and entirely free from public scrutiny?” The House and Senate has 60 days to debate this bill, but most of the deal has already been approved by the UN. This has angered Republicans and Democrats alike. The big question is going to be whether or not Congress can override a veto that is surely coming when the House and Senate vote this down.
Read More @ USAWatchdog.com
Is this the next step of the information war?Mainstream media lies, deceit, and propaganda are being dramatically exposed in real-time at an alarming rate. Anyone following alternative media knows what I’m talking about. Is it me or does it seem like the MH17 false flag happened years ago? We can see that false flags that are quickly exposed and blown wide open end up dropping to the bottom of mainstream media news. We’re seeing the pattern over and over again, so isn’t it time we sharpen our skills and start predicting the mainstream media lies and propaganda before it happens? For those of us fully awakened, we have to be scratching our heads wondering, what else? What can we do to change and turbo-boost this information war for the better? What creative thing can we do to throw a monkey wrench into the globalist plans? Is it even possible? Let’s examine some ideas.
Read More @ Thesleuthjournal.com
from ZenGardner:
The truth is only toxic to some. Namely those it exposes. It sure can
knock just about anyone for a loop, but it shouldn’t be discouraging.
I’m seeing somewhat desperate reactions more and more lately via comments, correspondence and internet postings and it’s a concern worth addressing. People really do need to get a handle on what’s going on both externally and even more importantly internally. This has been addressed many times and we’ve been warning this challenge was coming and going to continue to grow, so now it’s time to put what we know to be true into action.
It’s not a time to withdraw, whatever we do. We have to face this head on and not pull back into a bunker mentality, although wise personal preparations are certainly in order. I agree it’s lousy “out there” and it gets all of us down at times, but we can’t stay there. The longer we do the more it envelops and disempowers us.
Read More @ ZenGardner.com
The truth is only toxic to some. Namely those it exposes. It sure can
knock just about anyone for a loop, but it shouldn’t be discouraging.I’m seeing somewhat desperate reactions more and more lately via comments, correspondence and internet postings and it’s a concern worth addressing. People really do need to get a handle on what’s going on both externally and even more importantly internally. This has been addressed many times and we’ve been warning this challenge was coming and going to continue to grow, so now it’s time to put what we know to be true into action.
It’s not a time to withdraw, whatever we do. We have to face this head on and not pull back into a bunker mentality, although wise personal preparations are certainly in order. I agree it’s lousy “out there” and it gets all of us down at times, but we can’t stay there. The longer we do the more it envelops and disempowers us.
Read More @ ZenGardner.com
[Ed. Note: Originally published October 30, 2014. Still relevant today.]
by Dan Collins, The China Money Report:
As most informed individuals know, Gold has been dropping like a rock
from its previous highs of over $1900 an ounce. This has only encouraged
more buying from China, in paticular the fictional character called
“Auntie Want” which represents all of those middle-aged Chinese women
with money to burn that love buying real assets like houses and are gold
are now being blamed for buying over 200 tons in only a few months
during the summer when prices hit lows around $1,250.
Last year, in 2013, China took advantage of falling prices to import more than 1,500 tons of Gold. This is in addition to the 400 tons they produce annually which is never leaving the Mainland.
Read More @ TheChinaMoneyReport.com
by Dan Collins, The China Money Report:
As most informed individuals know, Gold has been dropping like a rock
from its previous highs of over $1900 an ounce. This has only encouraged
more buying from China, in paticular the fictional character called
“Auntie Want” which represents all of those middle-aged Chinese women
with money to burn that love buying real assets like houses and are gold
are now being blamed for buying over 200 tons in only a few months
during the summer when prices hit lows around $1,250.Last year, in 2013, China took advantage of falling prices to import more than 1,500 tons of Gold. This is in addition to the 400 tons they produce annually which is never leaving the Mainland.
Read More @ TheChinaMoneyReport.com
from Gold Core:
“Bailing-in” of larger deposits would have a very detrimental effect
on Greece, The Economist has warned. The magazine points out that such
an action would “destroy the working capital” of small and medium size
businesses, which it describes as the “backbone” of Greece’s economy.
The risk that bail-ins pose to companies, trade, commerce, employment and entire economies is something at which we have looked frequently in recent months. Indeed, we think we are largely alone in focussing in detail on the risk that bail-ins pose not just to individual savers but also to millions of small and medium size enterprises throughout the world.
Read More @ GoldCore.com
“Bailing-in” of larger deposits would have a very detrimental effect
on Greece, The Economist has warned. The magazine points out that such
an action would “destroy the working capital” of small and medium size
businesses, which it describes as the “backbone” of Greece’s economy.The risk that bail-ins pose to companies, trade, commerce, employment and entire economies is something at which we have looked frequently in recent months. Indeed, we think we are largely alone in focussing in detail on the risk that bail-ins pose not just to individual savers but also to millions of small and medium size enterprises throughout the world.
Read More @ GoldCore.com
by Chris Powell, GATA:
Dear Friend of GATA and Gold:
Zero Hedge tonight mocks the purported search by mainstream financial news organizations for the instigator of Sunday night’s nuclear assault on the gold market, and concludes that the trail will lead either to some Indian guy trading out of the dingy basement of his parents’ home in a London suburb or to the luxurious offices of the Bank for International Settlements in Basel, Switzerland, the central bank of the central banks. Of course mainstream financial news organizations would sooner interview Kim Kardashian about the gold market than ever have to direct a critical question about gold to the BIS or any other central bank.
But anyone who wants to know about the BIS doesn’t really have to question it much at all, as the documentation of its involvement in the gold market are on the public record already.
Read More @ Gata.com
Dear Friend of GATA and Gold:
Zero Hedge tonight mocks the purported search by mainstream financial news organizations for the instigator of Sunday night’s nuclear assault on the gold market, and concludes that the trail will lead either to some Indian guy trading out of the dingy basement of his parents’ home in a London suburb or to the luxurious offices of the Bank for International Settlements in Basel, Switzerland, the central bank of the central banks. Of course mainstream financial news organizations would sooner interview Kim Kardashian about the gold market than ever have to direct a critical question about gold to the BIS or any other central bank.
But anyone who wants to know about the BIS doesn’t really have to question it much at all, as the documentation of its involvement in the gold market are on the public record already.
Read More @ Gata.com
by Joe Wright, Activist Post:
Do you have any idea how manufactured our reality is? Can you even handle the truth?
The Chattanooga shooting inspired an influential former general to call for internment camps for thought radicals. Pretty outrageous, I know. Imagine how sinister that agenda would be if the Chattanooga shooting is proven to be a scripted hoax?
YouTube researchers MattyD 4 Truth and PROVE ME WRONG have uncovered records that appear to show at least one of the Chattanooga victims died years before the latest “mass shooter” media event.
Read More @ ActivistPost.com
Do you have any idea how manufactured our reality is? Can you even handle the truth?The Chattanooga shooting inspired an influential former general to call for internment camps for thought radicals. Pretty outrageous, I know. Imagine how sinister that agenda would be if the Chattanooga shooting is proven to be a scripted hoax?
YouTube researchers MattyD 4 Truth and PROVE ME WRONG have uncovered records that appear to show at least one of the Chattanooga victims died years before the latest “mass shooter” media event.
Read More @ ActivistPost.com
by Michael Snyder, The Economic Collapse Blog:
If you are looking for a “canary in a coal mine” type of warning for
the entire global economy, you have a whole bunch to pick from right
now. “Dr. Copper” just hit a six year low, Morgan Stanley is warning
that this could be the worst oil price crash in 45 years,
the Chinese economy is suddenly stalling out, and world trade is
falling at the fastest pace that we have seen since the last financial
crisis. In order not to see all of the signs that are pointing toward a
global economic slowdown, you would have to be willingly blind. In
recent months, I have been writing article after article
detailing how the exact same patterns that happened just before the
stock market crash of 2008 are playing out once again. We are watching a
slow-motion train wreck unfold right before our eyes, and things are
only going to get worse from here.
Read More…
If you are looking for a “canary in a coal mine” type of warning for
the entire global economy, you have a whole bunch to pick from right
now. “Dr. Copper” just hit a six year low, Morgan Stanley is warning
that this could be the worst oil price crash in 45 years,
the Chinese economy is suddenly stalling out, and world trade is
falling at the fastest pace that we have seen since the last financial
crisis. In order not to see all of the signs that are pointing toward a
global economic slowdown, you would have to be willingly blind. In
recent months, I have been writing article after article
detailing how the exact same patterns that happened just before the
stock market crash of 2008 are playing out once again. We are watching a
slow-motion train wreck unfold right before our eyes, and things are
only going to get worse from here.Read More…
/
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