Just yesterday we reported that a new Gallup poll showed that 75% of Americans think the US government is corrupt. Gallup has now released another poll that shows that nearly 50% of people in the US think that the federal government poses “an immediate threat to the rights and freedoms of ordinary citizens.”
This is more than a 50% increase since 2003 and the reason should be obvious to anyone who sees what is going on.
The amount of things that are illegal in the US has reached insane levels. Feeding the homeless in many cities in the US is a crime! Collecting rainfall on your own property is also now a crime in many states. And it seems a day doesn’t go by without cops shooting unarmed victims and kids in government “schools” being set-up in undercover drug stings or ending up in handcuffs.
And you wonder why?
Japanese Stocks Tumble After Holiday, China Default Risk Hits 2 Year Highs As Yuan Weakens For 4th DaySubmitted by Tyler Durden on 09/23/2015 - 21:20 AsiaPac stocks are broadly lower at the open, folowing US' lead as after being closed for 3 days, Japanese stocks open and catch down to global weakness with Nikkei 225 at 2-week lows. It appears it is time to "get back to work Mr.Kuroda," as stocks are below Black Monday's lows. Following last night's dismal data, China credit risk rose once again to new 2 year highs. Once again, industrial metals are under pressure with iron ore, copper, and aluminum all lower (following "peak steel" comments). After 3 days of weakening (and Xi's comments that China won't weaken), PBOC weakend the Yuan fix again, pushing the offshore-onshore spread to 2-week wides (over 500 pips apart).
We may have just gotten our answer to the puzzling question of why we can put a man on the moon but the Securities and Exchange Commission can’t create a consolidated tape of our markets for forensic auditing purposes: a consolidated tape would tell us just who it is that is messing around with stock futures in the middle of the night as well as creating flash crashes during the trading day.
We thought it was very peculiar that prior to the opening of the U.S. stock market this morning, futures on the Standard and Poor’s 500 index had staged a miraculous rally on the heels of distressing manufacturing news out of China last night.
Submitted by Tyler Durden on 09/23/2015 - 18:18 As Bloomberg reports, "President Vladimir Putin, determined to strengthen Russia’s only military outpost in the Middle East, is preparing to launch unilateral airstrikes against Islamic State from inside Syria if the U.S. rejects his proposal to join forces, two people familiar with the matter said."
Submitted by Tyler Durden on 09/23/2015 - 21:00 The best position for a tyrant or tyrants to be in, at least while consolidating power, is tyranny by proxy. That is to say, the most dangerous tyrants are those the people do not recognize: the tyrants who hide behind scarecrows and puppets and faceless organizations. The worst position for the common citizen to be in is a false sense of security and understanding, operating on the assumption that tyrants do not exist or that potential tyrants are really just greedy fools acting independently from one another. Being the clever tyrants that they are, the members of the central banking cult hope you are too stupid or too biased to grasp the concept of conspiracy. If you cannot identify the agenda, you can do nothing to interfere with the agenda.
Submitted by Tyler Durden on 09/23/2015 - 20:30 A federal shutdown due to a funding lapse looks no less likely than it did two weeks ago, and Goldman Sachs believes the probability is nearly 50%. The Senate is expected to begin voting later this week on a funding extension, but the House looks unlikely to act until shortly before the September 30 deadline. The following attempts to answer the main questions surrounding the shutdown, debt limit deadlines, and ramifications...
Submitted by Tyler Durden on 09/23/2015 - 19:59 If you have ever felt that in addition to being a quasi cargo cult (which in the case of central planners borders on religious dogma) rather than an actual science, not to mention far more destructive, economics was purposefully obtuse and opaque, meant to sound sophisticated and generally "baffle with bullshit" when in reality it was hollow, often contradictory and sometimes meaningless by design, then the following confession by David Hakes, professor of economics at the University of Northern Iowa is for you. In it the economist explains how he was turned down when he wrote articles that could easily be understood by a broad audience. So he made them more difficult to understand and got published immediately.
Submitted by Tyler Durden on 09/23/2015 - 19:25 "The American people have no reason to believe that they’ve heard the full story and every reason to believe that Washington assumes they are too stupid or preoccupied to care about cyber security."
Submitted by Tyler Durden on 09/23/2015 - 18:50 Japan is a useful analog in so many ways, not just about what the US and global economy can (has already?) become if allowed to follow into this same circle of Hell. It pretty much proves the incapacity of orthodoxists toward anything outside of their so very limited understanding and appreciation.
Submitted by Tyler Durden on 09/23/2015 - 21:50 With the new car bubble peaking, and the world's automakers having ramped up production across the globe after seeing Fed-driven signals that all is well and all is going to get better, the slowdown in China already has many hitting the panic button (with production plunging, capacity utilization tumbling, and workweeks tumbling). With this week's 'exogenous' diesel-defect 'event', the inventory-problem that US automakers are facing is nothing compared to the potentially catacylysmic wave of deflationary pricing (and deflationary lack of demand for raw materials) that VW faces with its record inventory.
In a conversation with Dr. Paul Craig Roberts today, he suggested that unless Russia submits to the United State’s vassalage, the countries are headed for a nuclear war. Ironically, after our discussion, two ominous news reports surfaced, via Zerohedge:
Pentagon Warns Of Russia-Iran “Nexus” In Syria: “We Assume Russia Is Coordinating With The Iranians” – LINK
Whether or not there’s any truth to the allegation, there can be no mistake that the U.S. Government is provoking Russia with a heavy dose of propaganda…and worse:
U.S. Will Station New Nuclear Weapons in Germany Against Russia – LINK
C’mon folks, this isn’t complicated.
Hill used Indian government data on the cost of pharmaceutical ingredients and allowed for a 50-percent profit margin – but no money for investment in research – to work out the costs of producing certain drugs.
On this basis, he found that Novartis’ leukaemia drug Glivec actually cost $159 for a year’s treatment, against the $106,000 charged in the United States.
First, let’s get yesterday’s “market” farce out of the way. On a day when European stocks plunged 3.0%-3.5% – buffeted by an exploding immigration problem, a major scandal at Volkswagen, a new low for National Bank of Greece stock – enroute to zero; and news that the U.S. will be basing nuclear weapons in Germany, to directly confront Russia, commodity prices plunged; currencies tanked; the Richmond Fed Manufacturing Survey was an unmitigated disaster; and interest rates plunged as the “odds” of a December rate hike (LOL) plunged to a new low – enroute to zero; whilst the “odds” of a U.S. government shutdown – as early as next week — spiked to 75%; and “fear gauges” like the VIX and ARMS Index rocketed higher; the PPT spent the entire day supporting the “Dow Jones Propaganda Average” – as the Cartel attacked paper PM prices in the same, blatantly obvious manner as usual (“2:15 AM EST raid for the 515th time in 589 days; a nonsensical waterfall decline at the COMEX open; and the same old “cap of last resort” algorithm when prices attempted to rebound at 12:00 PM EST.
In a recent article, “How many Good Delivery gold bars are in all the London Vaults?….including the Bank of England vaults“, I considered how much gold is actually in the London Gold Market, and highlighted how the amount of gold stored in the London wholesale market has fallen noticeably in recent years.
That article highlighted that the amount of gold stored in custody at the Bank of England (BoE) fell by 350 tonnes during the year to 28 February 2015, after also falling by 755 tonnes during the year to end of February 2014. Therefore, by 28 February 2015, there was, according to the BoE’s own statement, £140 billion or 5134.37 tonnes of gold in custody of the BoE, or in other words ~ 410,720 Good Delivery gold bars.