Friday, September 11, 2015

Buy Gold, Sell the S&P

by Gary Christenson, Deviant Investor:
Buy low, sell high!  As of today, September 3, 2015, the better choices are buying gold and selling the S&P 500 Index and relevant stocks.
Examine the graph of the ratio of Gold to S&P 500 Index for the past 25 years.  The ratio is low now and likely will correct higher.  I think gold will move higher and the S&P will move lower.
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German FinMin Warns Monetary Policy Is "Moving In A Very Dangerous Direction"

"Monetary policy can’t solve the problems we face," warns German finance minister Wolfgang Schaeuble, daring to admit that monetary policy-makers "are moving in a direction which is very dangerous" with regard to excess global liquidity. Amid fears of fed tightening and demands for BoJ and PBOC easing, it appears Europe's leadership fears the consequences of a "market bubble" as the global economy is awash in more public and private debt relative to GDP than at any time post-WWII.

Bank Account Seizures, Currency Destruction, & No Gold Available | Hoffman & Duane (Part 3)

from financeandliberty:

Remembering 9/11: The Wolf In 'Patriot Act' Sheep's Clothing

The day was September 11, 2001. Our New York office was on the 92nd floor of the World Trade Center Tower 1. None of the employees who had arrived to work that day survived. It is a moment that elicits strong emotions within me to this day and I know I’m not alone. In the days and weeks that followed, while the world came together to mourn those lost and to condemn those responsible, our policymakers in Washington were working feverishly to find opportunity in this tragedy. Forty-five days after 9/11, President Bush signed into law the U.S. Patriot Act.

Richard Gage on 9/11, WTC-7, NIST & The BBC

from Infowars, via ConspiracyScope:

50 Spies Say ISIS Intelligence Was Cooked

It’s being called a ‘revolt’ by intelligence pros who are paid to give their honest assessment of the ISIS war—but are instead seeing their reports turned into happy talk.
from The Daily Beast:
More than 50 intelligence analysts working out of the U.S. military’s Central Command have formally complained that their reports on ISIS and al Qaeda’s branch in Syria were being inappropriately altered by senior officials, The Daily Beast has learned.
The complaints spurred the Pentagon’s inspector general to open an investigation into the alleged manipulation of intelligence. The fact that so many people complained suggests there are deep-rooted, systemic problems in how the U.S. military command charged with the war against the self-proclaimed Islamic State assesses intelligence.
“The cancer was within the senior level of the intelligence command,” one defense official said.
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Progressives and LEFT-Wing “Conspiracy Theorists”

from Verify Events Research:

In this video we present evidence that the left also believes in “conspiracy theories”. We name high profile democrats and progressives and mention those instances in our history where the government killed and experimented on its own people. We also discuss the fact that we are living though WW3 (per the definition of world war). In our previous video titled: “Terrorists, Democrats for “Peace” and Economics”, we discussed the evidence that lefties are warmongers just like the republicans they criticize and how the left-inclined media is lamenting the lack of major wars to boost economic growth.

A Warning For The Bears: Gartman Goes Short S&P Futures, "Very Worried In Catholic Terms"

"NEW RECOMMENDATION: we wish to sell the S&P futures short this morning, fearing that a major top hss developed and that the recent consolidation in the stock market is precisely that: a consolidation before the next leg downward... If the consolidation is indeed reconciled to the downside, the target becomes 1725-1750, or just a bit more than 200 S&P points to the downside."

Fed Rate Hike Odds Rise After Hotter-Than-Expected Producer Price Data

While still well below Fed mandated levels, the 0.9% year-over-year rise in PPI Final Demand ex Food & Energy is the hottest since March and notably above expectations. While the headline PPI Final Demand YoY has not risen for 8 months, surging prices for chicken eggs (+23%) and apparel (+7%) in August made up a considerable part of the inflation index move and bond yields and stocks are leaking lower on the news ahead of next week's FOMC meeting.

Great Unrotation: Biggest Outflow From Equity Funds In 2015 Offset By Longest Treasury Inflow Streak In 4 Years

While the massive, $19.2 billion outflow in the week of the August 24 flash crash was understandable, as the market's record complacency was shaken by days of violent selling, as was the snap rebound inflow of $5.8 billion the following week resulting from oversold conditions, the fact that EPFR reported that in the week ended September 9 equity outflows once again surged, rising to a total of $19.4 billion - greater than two weeks prior, and the largest of 2015 - will cast doubt that the recent market correction is a one and done event, especially if the selling becomes a self-fulfilling prophecy.

$20 Oil? Goldman Says It's Possible

"While we are increasingly convinced that the market needs to see lower oil prices for longer to achieve a production cut, the source of this production decline and its forcing mechanism is growing more uncertain, raising the possibility that we may ultimately clear at a sharply lower price with cash costs around $20/bbl Brent prices."

Frontrunning: September 11

  • One Volatile Week Could Seal Fed Stance After Years of Low Rates (BBG)
  • Fed to dominate week of central bank meetings (Reuters)
  • 30 years on, parallels with Plaza but currency universe very different (Reuters)
  • Wal-Mart's Suppliers Are Finally Fighting Back (BBG)
  • China's Rising CPI, Deepening PPI Deflation Challenges PBOC (BBG)
  • Petrobras spending plan already obsolete, new cuts likely (Reuters)
  • Bank of Montreal to Buy GE Capital’s Transportation-Finance Unit (WSJ)

Futures Drift Lower In Surprisingly Uneventful Overnight Session

Perhaps after intervening every single day in the past week (remember that FT piece saying the PBOC would no longer directly buy stocks... good times) in either the stock or the FX (both on and offshore) market, China needed a day off; perhaps even the algos got tired of constantly spoofing the E-mini and inciting momentum ignition, but for whatever reason the overnight session has been oddly uneventful, with no ES halts so far, few USDJPY surges (then again those come just before the US open), and even less violent CNY or CNH moves, leading to virtually unchanged markets in Japan (small red) and China (small green). And while the initial tone in Europe has been modestly "risk off", it is nothing in comparison to the massive gyrations that have become a stape in the past few weeks.

In Major Humiliation For Obama, Iran Sends Soldiers To Support Russian Troops In Syria

The latest twist in what we have been warning for months has the makings of the biggest proxy shooting war in years, one that will come as a major humiliation to the Obama administration, today we find out that none other than America's most recent diplomatic sweetheart in the Gulf region, Iran, has deployed ground soldiers into Syria in the past few days in cooperation with Russia's President Vladimir Putin.

Dems Block Iran Nuke No Vote, Syria War Intensifies, Fed Rate Hike, Hillary in Deeper Trouble

from USA Watchdog:

Democrats are going to try to block Republicans from killing the Iran nuke deal.
The Republicans do not have the 60 votes needed to stop a Democrat filibuster. So, Obama will not have to veto the Republican bill to stop the deal from going through. The Democrats are not even going to allow a vote on the killing the deal. 10 Democrats are up for re-election and none of them want to be on record voting to allow it to go through. This is far from over as the Republicans are looking for ways to kill the deal and I am sure they will at least want Democrats on record to allowing this to go through. They know this is a bad deal if you want to call it that. It is really total capitulation as John Kerry admitted he did not have access to the deal on inspecting Iran’s military nuclear sites. Iran’s top brass has said it will not issue the permits to inspect its military sites. There really is no deal. This is nothing more than theater from the Obama Administration.
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New DEA Head Says Pot “Is Dangerous,” Lacks Medical Use, Belongs on Schedule I

from Truth In Media:
Newly-appointed acting Drug Enforcement Administration chief Chuck Rosenberg, who took over the position following previous DEA Administrator Michele Leonhart’s resignation over a scandal in which subordinate DEA agents were caught participating in sex parties with prostitutes funded by Colombian drug cartels, recently clarified that he supports marijuana’s controversial classification alongside hardcore drugs like heroin as a Schedule I narcotic with no medical use.
In an interview with Rosenberg, Fox News’ James Rosen asked, “Two of the last three presidents of the United States have acknowledged having used marijuana… Isn’t that itself – the fact that here we have two men who used marijuana, in varying degrees, and who then went on to become president of the United States – a kind of a prima facie argument that it is time to remove marijuana from Schedule I of the Controlled Substances Act?
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Global Economy Nearing a “Structural Recession”

from Wolf Street:
To the never-ending astonishment of our economists, global growth has been much weaker since the Financial Crisis than before it, despite enormous global stimulus from years of extreme central-bank monetary policies and record amounts of government deficit spending.
This should not have happened, according to our economists. Fiscal stimulus and expansionary monetary policies beget economic growth, which beget even more economic growth. That’s the theory. And that’s precisely what hasn’t happened. All it did was inflate asset prices. But the global economy has been a dud.
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Equity markets and credit contraction

by Alasdair Macleod, GoldMoney:
There is one class of money that is constantly being created and destroyed, and that is bank credit.
Bank credit is created when a bank lends money to a customer; it becomes money because the customer draws down this credit to deposit in other bank accounts and to pay creditors. It is not money that is created by a central bank; it is money that is created out of thin air by commercial banks to lend. Its contraction comes about when it is repaid, or if a customer defaults.
The recent sharp fall in equity markets is leading to two levels of contraction of bank credit. Brokers’ loans to speculating investors are being unwound from record levels, notably in China and also in the US where in July they hit an all-time record of $487bn.
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The Second Coming of Consciousness

from TruthNeverTold:

Is the Justice Department Finally Ready to Jail Corporate Criminals?

by Michael Krieger, Liberty Blitzkrieg
The single greatest travesty to afflict American society in the 21st century has been the abandonment of the rule of law and accountability. It’s worse than the attacks of 9/11 and the subsequent loss of privacy and civil liberties. It’s even worse than the economic devastation unleashed by the financial crisis.
The reason it’s worse is because dynamic, complex and diverse cultures such as these United States will always be flawed and some of its leaders, both corporate and political, will always fall to the temptation of corruption and criminality. The key to preventing such bad behavior from multiplying and ultimately destroying the entire civilization, is the rule of law.
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Is Janet Yellen Attempting to Reign in the Stock Market?

by The Silver Bug, Sprott Money Blog
As is public knowledge now, the FED has been actively engaging in a game they like to play called MOPE, or also known as Management of Perspective Economics. MOPE essentially is a head game that the FED likes to play. It makes people believe in what they are saying, even if what they are saying has no basis in truth or reality.
For years now, the FED has been actively engaging in MOPE in regards to interest rates. They are going to raise them! They are going to keep them the same! They are going to lower them! Take your pick, we’ve heard it all.
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Kellogg’s Kashi Cereal Found to be Full of GMOs and Cancer-Causing Glyphosate

by Jonathan Benson, Natural News:
Suffering a massive market blow after its parent company was exposed for funding efforts to block compulsory labeling of genetically-modified organisms (GMOs), the Kashi brand of breakfast cereal is back for round two. GMO Free USA has published the official results of new independent laboratory tests, and Kashi cereal was found to have up to six times higher levels of glyphosate residue than other popular cereal brands such as Froot Loops.
The Kashi name is no longer what it once was, with the company having also been exposed by the Cornucopia Institute (CI) for using genetically-modified soy ingredients in its “GoLean” cereal line. Consumers have increasingly been shying away from this faux-healthy brand ever since, especially as Kashi’s parent company, Kellogg’s, has proven itself to be an enemy of food labeling transparency.
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