by SGT, SGT Report.com:
Prepare. Presented without further comment.
Bad Debt Soars 35% In China As Government Set To Fabricate Dismal Loan Data
Submitted by Tyler Durden on 08/06/2015 - 07:56 According to a transcript of an internal meeting of the China Banking Regulatory Commission, bad loans jumped CNY322.2 billion in H1 to CNY1.8 trillion, a 36% increase. Meanwhile, The PBoC will include loans made to CSF, China’s plunge protection vehicle, in its monthly loan data, meaning Beijing will pretend that the state-directed effort to artificially shore up the country’s stock market represents real, organic demand for credit.
Job Cuts Soar To Highest Since September 2011 After Mass Army Terminations, Highest YTD Layoffs Since 2009
Submitted by Tyler Durden on 08/06/2015 - 08:08 While we await for the BLS to report another seasonally adjusted Initial Claims report which will be near multi-decade lows, a far more disturbing report was released moments ago by outplacement consultancy Challenger Gray, which has done a far better job of compiling true layoff data, and which reported that in July there was a whopping 105,696, up 136% from the 44,842 job cuts in June, and the highest in nearly four years, or since September 2011, which the last time there were more than more than 100,000 layoffs.
Futures Flat, China Slides Again, Oil Tumbles Near 2015 Lows
Submitted by Tyler Durden on 08/06/2015 - 06:55 It has been more of the same in the latest quiet overnight session where many await tomorrow's NFP data for much needed guidance, and where Chinese markets opened weaker, rose during the day, then went through a mini rollercoaster, then sold off in the afternoon. The Shanghai Composite and HS China Enterprises indices finished down .9% and .3%, respectively. Trading volume continued to be very subdued, running at half the thirty day average as some 20 million "investors" have pulled out of the market to be replaced with HFTs such as Virtu. But while stock action has been muted, the story of the night so far is oil and the energy complex broke out of a tight overnight range early in the European session to continue yesterday's downward trend, seeing WTI Sep'15 futures fall below the USD 45.00 handle after yesterday's DoE crude oil inventories saw US crude output rise by 0.552%. As of this moment oil was trading at $44.72, just pennies above the low print of 2015.
Is This Country Latin America's Next "Argentina"
Submitted by Tyler Durden on 08/06/2015 - 09:25 Today, following another spike in negative news, it appears that the credit markets have finally woken up, and a quick look at Brazil's CDS shows that following today's spike to 314bps, the country's implied default risk is back to levels last seen in April of 2009! We expect more credit market participants to notice the depressionary developments in brazil, and as the country's CDS continue to blow out, many will start asking themselves: is Brazil the next Argentina?
by Michael Snyder, The Economic Collapse Blog:
The list of nations around the globe that have collapsing economies
just continues to grow. In recent weeks I have written about the
ongoing saga in Greece, the stock market crash in China, the debt crisis
in Puerto Rico and the economic meltdown in South America.
But there are more economic flashpoints that I have not even addressed
yet. For example, did you know that a full-blown economic collapse is
happening in Iraq right now? And did you know that the economy of
Ukraine is contracting rapidly and that it cannot pay its debts? Back
in 2008, the financial crisis was primarily centered on the United
States, but this time around it is turning out to be a truly global
phenomenon.
Read More…
The list of nations around the globe that have collapsing economies
just continues to grow. In recent weeks I have written about the
ongoing saga in Greece, the stock market crash in China, the debt crisis
in Puerto Rico and the economic meltdown in South America.
But there are more economic flashpoints that I have not even addressed
yet. For example, did you know that a full-blown economic collapse is
happening in Iraq right now? And did you know that the economy of
Ukraine is contracting rapidly and that it cannot pay its debts? Back
in 2008, the financial crisis was primarily centered on the United
States, but this time around it is turning out to be a truly global
phenomenon.Read More…
Crude Carnage Continues As Goldman Warns "Storage Is Running Out"
Submitted by Tyler Durden on 08/06/2015 - 09:44 WTI Crude is back below $45 again this morning - pressing towards 2015 and cycle lows -after Goldman Sachs' Jeffrey Currie warns 'lower for longer' is here to stay, with price risk "substantially skewed to the downside." His reasoning are manifold, as detailed below, but overarching is oversupply (Saudi Arabia has a challenge in Asia as it battles to maintain mkt share, the Russians are coming, andother OPEC members want a bigger slice) and, even more crucially, storage is running out. As Currie concludes, this time it is different. Financial metrics for the oil industry are far worse.
from The Wealth Watchman:
Perhaps you remember the days you would sit around the table with family members and play this old classic detective game? Well I had the privilege of doing so on a surprise visit this past May with my siblings to surprise our Mom on her 80th birthday! She was thrilled to have us, and a good time was had by all.
The idea was that you and several participants have met at Tudor Mansion. Your host, Mr Boddy, has met an untimely end (no banker jokes please) and is the victim of foul play.
Read More…
A Familiar Game
Once again it is a great privilege and honor that The Wealth Watchman
would consider what this nobody has to say and allow me to share it
with the shield brothers! Thank you WW! It is always my desire to
produce a column with a passion to uphold truth, justice and honest
money!Perhaps you remember the days you would sit around the table with family members and play this old classic detective game? Well I had the privilege of doing so on a surprise visit this past May with my siblings to surprise our Mom on her 80th birthday! She was thrilled to have us, and a good time was had by all.
The idea was that you and several participants have met at Tudor Mansion. Your host, Mr Boddy, has met an untimely end (no banker jokes please) and is the victim of foul play.
Read More…
Google Trends recently examined its own data to determine which Republican candidate was the most searched – by county – as the party’s first primary debate approaches.Judging from Donald Trump’s strong showing in virtually all recent polls, it might be little surprise that he is likewise dominating Google searches. Seeing the color-coded evidence of this trend, however, has in itself sparked even more conversation about the brash billionaire.
Certain pockets of the nation – specifically Scott Walker’s home turf in Wisconsin – buck the national trend while entire states, like Arizona, are dominated by Trump inquirers.
Read More
"The Economy Probably Sucks If..."
Submitted by Tyler Durden on 08/06/2015 - 09:00 What the data does suggest is while the BEA can change the methodology for calculating economic growth, a change in the "math" does not change the "reality."
Explain This...
Submitted by Tyler Durden on 08/06/2015 - 08:42 Initial jobless claims rose modestly this week but remain near 40 year lows as hoarding continues, and job cuts are at 4-year highs. So, we ask, just what is going on in this chart?Job Cuts Soar To Highest Since September 2011 After Mass Army Terminations, Highest YTD Layoffs Since 2009
Submitted by Tyler Durden on 08/06/2015 - 08:08 While we await for the BLS to report another seasonally adjusted Initial Claims report which will be near multi-decade lows, a far more disturbing report was released moments ago by outplacement consultancy Challenger Gray, which has done a far better job of compiling true layoff data, and which reported that in July there was a whopping 105,696, up 136% from the 44,842 job cuts in June, and the highest in nearly four years, or since September 2011, which the last time there were more than more than 100,000 layoffs.Bank Of England Post Mortem: Rate Hike On Hold Due To Crashing Commodities, Strong GBP
Submitted by Tyler Durden on 08/06/2015 - 07:42 Reading through the August inflation report two things seem to stand out:- The MPC is more optimistic on (domestic demand-driven) GDP growth – supported by growing wages, cheaper bank funding and growing house prices. Indeed, they revised their growth projections slightly to the upside compared to May.
- The MPC has turned more cautious on inflation because of persistent commodity price weakness and, indeed, FX appreciation. This is reflected in their lower inflation projections.
3 Charts To Watch During Today's More Dovish Than Expected BoE "Super Thursday"
Submitted by Tyler Durden on 08/06/2015 - 07:01 Today the Bank of England releases its rate decision, minutes and quarterly inflation report (QIR) all at 1200BST with the QIR press conference to be held by Governor Carney at 1245BST. Given the volume of information on offer, the release is likely to be met with volatility.Hillary in JAIL in 2016...
Hillary Clinton's FBI Investigation Is A "Criminal Probe": Post
Submitted by Tyler Durden on 08/05/2015 - 23:38 Moments ago a far less liberal outlet than either the WaPo or the NYT, came out with its own interpretation of the ongoing FBI escalation involving Hillary, and according to the NY Post, "the FBI investigation into former Secretary of State Hillary Rodham Clinton’s unsecured e-mail account is not just a fact-finding venture — it’s a criminal probe, sources told The Post on Wednesday."
In a video that is sure to spark outrage across the country, a Rohnert
Park police officer was caught on film stalking a man for filming.As if the harassment and intimidation for simply recording a police officer from his own property weren’t enough, this cop went so far as to exit his vehicle and pull his gun on a man who was simply practicing his freedom of speech.
The incident began as Don McComas was loading up his boat for a day on the water when he noticed a Rohnert Park police cruiser stopped in front of his house.
Read More
It was not too long ago that Gazprom, the state-controlled energy conglomerate, was one of the Kremlin’s most potent geopolitical weapons. But those days now seem like a distant memory: Gazprom is a financial shadow of its former self.
The speed of Gazprom’s decline is breathtaking. At its peak in May 2008, the company’s market capitalization reached $367.27 billion, making it one of world’s most valuable companies, according to a survey compiled by the Financial Times. Gazprom’s deputy chair, Alexander Medvedev, repeatedly predicted at the time that within a decade the Russian energy giant could be worth $1 trillion.
Read More
from TruthNeverTold:
by Dr. Jeffrey Lewis, Silver-coin-investor:
It’s enough that the mainstream financial media seems hell-bent of
bashing gold. (Of course, silver gets hardly a mention). But GATA’s
Chris Powell has been on a tirade of late, picking apart the lower
hanging fruit of these theories and misplaced assumptions, if not
outright desperate attempts to rationalize technically driven market
prices.
The following is answer to a gold insider is a must read.
Powell tells it best, though I think it’s fair to add a few questions to the ones he poses for Mr. Moriarty – which I’ve included below – if anyone were inclined to apply the same misunderstanding about silver price discovery.
Read More
It’s enough that the mainstream financial media seems hell-bent of
bashing gold. (Of course, silver gets hardly a mention). But GATA’s
Chris Powell has been on a tirade of late, picking apart the lower
hanging fruit of these theories and misplaced assumptions, if not
outright desperate attempts to rationalize technically driven market
prices. The following is answer to a gold insider is a must read.
Powell tells it best, though I think it’s fair to add a few questions to the ones he poses for Mr. Moriarty – which I’ve included below – if anyone were inclined to apply the same misunderstanding about silver price discovery.
Read More
from TheMoneyGPS:
by Harvey Organ, HarveyOrganblog:
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1085.70 down $5.00 (comex closing time)
Silver $14.55 unchanged.
In the access market 5:15 pm
Gold $1085.80
Silver: $14.60
First, here is an outline of what will be discussed tonight:
Read More
Good evening Ladies and Gentlemen:Here are the following closes for gold and silver today:
Gold: $1085.70 down $5.00 (comex closing time)
Silver $14.55 unchanged.
In the access market 5:15 pm
Gold $1085.80
Silver: $14.60
First, here is an outline of what will be discussed tonight:
Read More
from Natural News:
As you likely saw from our earlier coverage,
the fight over California’s SB277 forced vaccination law isn’t over, as
libertarian Tim Donnelly recently filed a referendum that, if it
receives over 366,000 signatures, would immediately halt and potentially
even reverse the controversial legislation.
If the SB277 Referendum, which you can find information about where to sign here, receives more than 365,880 verifiable signatures by September 28, 2015, the measure will be placed on the November 2016 ballot in which Californians will be able to cast their vote, allowing residents to decide through what’s called the people’s veto.
While SB277 supporters (Big Pharma, bought-off politicians and a brainwashed public) see the referendum as having no chance of being successful, surprisingly, one of the bill’s biggest backers, Senator Richard Pan, went out his way to encourage citizens not to sign it.
Read More
As you likely saw from our earlier coverage,
the fight over California’s SB277 forced vaccination law isn’t over, as
libertarian Tim Donnelly recently filed a referendum that, if it
receives over 366,000 signatures, would immediately halt and potentially
even reverse the controversial legislation.If the SB277 Referendum, which you can find information about where to sign here, receives more than 365,880 verifiable signatures by September 28, 2015, the measure will be placed on the November 2016 ballot in which Californians will be able to cast their vote, allowing residents to decide through what’s called the people’s veto.
While SB277 supporters (Big Pharma, bought-off politicians and a brainwashed public) see the referendum as having no chance of being successful, surprisingly, one of the bill’s biggest backers, Senator Richard Pan, went out his way to encourage citizens not to sign it.
Read More
from trendsjournal:
by Ambrose Evans-Pritchard, The Telegraph:
If the oil futures market is correct, Saudi Arabia will start running
into trouble within two years. It will be in existential crisis by the
end of the decade. The contract price of US crude oil for delivery in
December 2020 is currently $62.05, implying a drastic change in the
economic landscape for the Middle East and the petro-rentier states.
The Saudis took a huge gamble last November when they stopped supporting prices and opted instead to flood the market and drive out rivals, boosting their own output to 10.6m barrels a day (b/d) into the teeth of the downturn.
Bank of America says OPEC is now “effectively dissolved”. The cartel might as well shut down its offices in Vienna to save money.
Read More @ Telegraph.co.uk
If the oil futures market is correct, Saudi Arabia will start running
into trouble within two years. It will be in existential crisis by the
end of the decade. The contract price of US crude oil for delivery in
December 2020 is currently $62.05, implying a drastic change in the
economic landscape for the Middle East and the petro-rentier states.The Saudis took a huge gamble last November when they stopped supporting prices and opted instead to flood the market and drive out rivals, boosting their own output to 10.6m barrels a day (b/d) into the teeth of the downturn.
Bank of America says OPEC is now “effectively dissolved”. The cartel might as well shut down its offices in Vienna to save money.
Read More @ Telegraph.co.uk
from AMTV:
by Paul Joseph Watson, Infowars:
Clinical dietician Daniel Jarvis has slammed the Michelle Obama-backed
federal lunch program, labeling it a money-making scam that will cause
higher rates of cancer in children who are being forced to eat
carcinogenic processed meat. Jarvis was shown a study obtained by CBS-13 which shows that the food being served in schools is incredibly unhealthy despite being labeled nutritious.
The government buys food in bulk from large corporations, which according to the study are, “profiteering by hundreds of million of dollars, dominating school trade magazines ads and pushing nuggets, corn dogs and pizza as supposedly nutritious meals.”
Jarvis, who works at Cabell Huntington Hospital in West Virginia, was shocked when he saw the study.
Read More @ Infowars.com
Clinical dietician Daniel Jarvis has slammed the Michelle Obama-backed
federal lunch program, labeling it a money-making scam that will cause
higher rates of cancer in children who are being forced to eat
carcinogenic processed meat. Jarvis was shown a study obtained by CBS-13 which shows that the food being served in schools is incredibly unhealthy despite being labeled nutritious.The government buys food in bulk from large corporations, which according to the study are, “profiteering by hundreds of million of dollars, dominating school trade magazines ads and pushing nuggets, corn dogs and pizza as supposedly nutritious meals.”
Jarvis, who works at Cabell Huntington Hospital in West Virginia, was shocked when he saw the study.
Read More @ Infowars.com
from X22 Report:
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![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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