So This Is Why The "Smart Money" Was Selling The Most Stocks In History

Submitted by Tyler Durden on 08/25/2015 - 18:20 Following the biggest (and only) market correction in years, the biggest weekly surge in the VIX ever, the second wholesale market flash crash in history coupled with the first ever limit down trade in the Nasdaq and the E-Mini, not to mention the biggest intraday bearish reversal since Lehman, it would appear that the "smart money" actually was aptly named.

Is China Quietly Targeting A 20% Devaluation?

Submitted by Tyler Durden on 08/25/2015 - 19:08 "Some Chinese agencies involved in economic affairs have begun to assume in their research that the yuan will weaken to 7 to the dollar by the end of the year, said people familiar with the matter. [Their] projections suggest a depreciation of more than 8 percent by Dec. 31 and about 20 percent by the end of 2016."

China Cuts Interest Rate & Lowers Reserve Requirements

from Armstrong Economics:
I keep telling people that the central bank of China is far more professional than any other central bank. When I was invited there during the Asian Crisis, I was stunned to be invited over some academic. When I got there, I found that everyone had experience. They had worked on dealing desks around the world and then returned to run the central bank. The people I met at EVERY other central bank had a ton of PhD’s, but no experience.
China’s People’s Bank of China (central bank) has cut the benchmark interest rates by a quarter of one percent. Granted, that may not seem to be a lot, but it is nonetheless a very significant one given events of recent days, demonstrating that they are in tune with the market movements.
Read More

1929 And Its Aftermath - A Contra-Keynesian View Of What Really Happened

Submitted by Tyler Durden on 08/25/2015 - 18:45 A half-century ago, America - and then the world - was rocked by a mighty stock-market crash that soon turned into the steepest and longest-lasting depression of all time. Those who ignore the lessons of history are doomed to repeat it - except that now, with gold abandoned and each nation able to print currency ad lib, we are likely to wind up, not with a repeat of 1929, but with something far worse...

"Biggest Rally Of 2015" Crashes Into Biggest Reversal Since Lehman

Submitted by Tyler Durden on 08/25/2015 - 16:06

Dollar Depeg Du Jour: 32-Year Old Hong Kong FX Regime In The Crosshairs

Submitted by Tyler Durden on 08/25/2015 - 17:43 Because no discussion of global dollar pegs and entrenched FX regimes would be complete without mentioning the Hong Kong dollar...

Cutting Through The HFT Lies: What Really Happened During The Flash Crash Of August 24, 2015

Submitted by Tyler Durden on 08/25/2015 - 17:32 One of the fallacies being propagated about yesterday's flash crash, is that somehow HFTs came riding in as noble white knights and rescued the market from a collapse instead of actually causing it. This particular lie is worth a few quick observations and explanations of what really happened.

The August 2015 Flash Crash Through The Eyes Of Retail Investors

Submitted by Tyler Durden on 08/25/2015 - 17:15 With professionals proclaiming yesterday's meltdown "historic," and generously telling investors "don't try to overthink what you're seeing," it is clear that the real impact of the carnage wrought by a combination of Fed-indiced crowded trades and HFT illiquidity-providers is yet to be fully appreciated. While Financial advisers, almost unanimously, have cautioned clients not to panic... As one retail investor exclaimed, yesterday's open "was a life-changing 20 minutes."

Jim Rickards: There Are No Markets Left In The World

from selfownership1:

Garlic – DIY, recipes, and other information you should know about this amazing herb

from Natural News:
Most know about garlic’s antimicrobial properties. A healthy diet rich in raw garlic is the best defense against fungal, bacterial, viral, and parasitical infections. Garlic may also be used topically to treat vaginal yeast infections and athlete’s foot.
WWI soldiers used crushed garlic on infected wounds suffered in battle. Hippocrates, considered by many to be the “Father of Medicine,” also used garlic to heal cancerous tumors. Garlic’s history is as rich and plentiful as its benefits. It is a truly amazing herb and one that many naturally minded healthcare practitioners will tell you is one of nature’s most incredible plants.
Read More

Gold or Silver Shortages?

from SilverSeek:
A big pet peeve of mine is when an article is published talking about a shortage in silver or gold. Recently, we have seen an increase in articles claiming precious metals shortages simply because both the U.S. mint and Royal Canadian Mint ran out of blanks. Both of these government mints predetermine a rough amount they will mint at the start of the year and when demand surges a “bottleneck” can occur and this has happened in the past.
Why is this such a pet peeve? Because a shortage in a specific silver product does NOT mean a shortage in the raw material, it would be like saying there is a rice shortage if rice krispies were stopped being produced momentarily.
Read More

Disastrous Day that Confidence Broke!

by Bill Holter, JS Mineset:
As a follow up from yesterday’s A Weekend’s Heads Up , my thoughts were truly an understatement for today’s action! The open was far weaker than I had anticipated, down 1,089 points. This was the biggest point drop in Dow history. The volatility was out of control with the VIX trading to 53, the highest since Feb. 2009! An illustration of how much and how fast the volatility was, total point movement in the first 90 minutes was 3,000 Dow points, 4,900 total for the day! Truly incredible!
So where do we go from here? Unless we get some sort of central bank news out of China, we open down again tomorrow and see if they can get a reversal going. We are well over sold and due a bounce …but ALL crashes have occurred from oversold readings. While talking to Jim after the close, he initially said “the PPT got their ass kicked today, it would not have happened if I was running their desk”. Let me explain this because it is SO IMPORTANT.
Read More

/