Submitted by Tyler Durden on 09/17/2015 - 08:01 The long awaited day is finally here by which we, of course, mean the day when nobody has any idea what the Fed will do, the Fed included. Putting today in perspective, there have been just about 700 rate cuts globally in the 3,367 days since the last Fed rate hike on June 29, 2006, while central banks have bought $15 trillion in assets, and vast portions of the world are now in negative interest rate territory.
Submitted by Tyler Durden on 09/17/2015 - 09:50 Today, much of the world turns its lonely eyes to the Fed and its chieftain. The Fed has as much as promised to make the blind see and the lame walk. It claims that it – and it alone – is capable of improving the U.S. economy and, by extension, the world economy. People will earn more money. They will live better. And they will have less to fear from financial calamities, such as those that happened before the Fed was set up in 1913. In the popular mind – if there is such a thing – it is further believed that the Fed “won’t allow” a major bear market, because “it would be bad for the economy.” The Fed rules the entire universe of commerce, finance, and investment. Janet Yellen rules the Fed. But who rules Janet Yellen?
The British polling organization ORB International, an affiliate of WIN/Gallup International, repeatedly finds in Syria that, throughout the country, Syrians oppose ISIS by about 80%, and (in the latest such poll) also finds that 82% of Syrians blame the U.S. for ISIS.
The Washington Post summarized on September 15th the latest poll. They did not headline it with the poll’s anti-U.S. finding, such as “82% of Syrians Blame U.S. for ISIS.” That would have been newsworthy. Instead, their report’s headline was “One in five Syrians say Islamic State is a good thing, poll says.” However, the accompanying graphic wasn’t focused on the few Syrians who support ISIS (and, at only one in five, that’s obviously not much.) It instead (for anyone who would read beyond that so-what headline) provided a summary of what Syrians actually do support. This is is what their graphic highlighted from the poll’s findings:
Submitted by Tyler Durden on 09/17/2015 - 08:59 How did our financial system weaken to the point where a quarter of a percent increase in rates is more than it can handle?
With the global markets awaiting the Fed decision tomorrow, one of the greats in the business sent King World News a fantastic piece discussing the wild trading in China and what to expect from the Fed, plus a bonus Q&A that includes questions on gold and the Fed.
China was 5% higher last night, aided by a last-minute burst of buying (no doubt by the government). Europe gained a bit of ground, but the market here spent the first half of the day flopping around unchanged as folks prepare themselves for tomorrow’s FOMC announcement, and in all likelihood a “nothing done” from that tragically clueless band of central planners…
Submitted by Tyler Durden on 09/17/2015 - 08:47 While today's economic data is likely too late to influence the Fed's decision which is now due in just over 5 hours, moments ago the latest housing starts and permits data painted another mixed picture, with Starts declining to a three month low of 1,126K, missing expectations of 1160K, and below last month's downward revised 1161K. The miss was a result of housing starts in the Northeast tumbling by 34% to 108K, the lowest prince since March now that the tax-driven surge, which we discussed previously expired in July, is over.
Submitted by Tyler Durden on 09/17/2015 - 08:36 Initial jobless claims fell 11k (on an adjusted basis) to 264k last week - hovering near its lowest level since 1973 as firms hoard labor leaving The Fed stuck between an "everything looks awesome" rock and a "well we have to admit all these indicators are bullshit" hard place...
Submitted by Tyler Durden on 09/17/2015 - 08:14
"I'm Not Sure We Can Register Them All": 5,600 Refugees Pour Into Croatia After Migrant Route ChangeSubmitted by Tyler Durden on 09/17/2015 - 07:47 “Normally when one route gets blocked or more difficult, migrants’ first choice is to return to an old established route. It is likely that some people will look again at the central Mediterranean route from Libya — we can predict a spike there — and people will be working on rival Balkan routes as we speak."
filed under who fucking cares...Who did you think won...was it the douche bag or the turd?
Submitted by Tyler Durden on 09/16/2015 - 23:14 While Lindsay Graham was a clear winner in the undercard (like being the tallest midget?), the main event was a mosh-pit of anatagonistic self-abuse for The GOP as candidates ran rough-shod over each other and the moderators. Fiorina stood up to Trump (though not too aggressively) and Trump replied how beautiful Fiorina's face was, Paul was bowled over (by Trump), and Trump was ironically dismissed as "a great entertainer" as the debate took place in great entertainer Ronald Reagan's library. It was clear that "the rest" of the GOP field was not about to let Trump dominate... and he didn't but the night was, in one word, chaos. Trump spoke the most as expected and in most polls was voted as 'winner' with Fiorina gaining most.
Submitted by Tyler Durden on 09/16/2015 - 21:19 The evening started with disappointing Japanese trade data cross the board - weakest imports, exports, and trade balance in 6 months - which follows the largest selling of Japanese stocks by foreigners ever. China opened with the first rise in margin debt in 6 days, stocks were lower in the pre-open after last night's epic farce ramp. PBOC strengthened the Yuan fix modestly and also injected another CNY 40 billion.
Submitted by Tyler Durden on 09/16/2015 - 20:16 Just like 13F clones end up getting burned more often than not, so too unfortunately for the Chinese copycats, an endorsement from the equity market’s savior has done nothing to ensure outsized returns. In fact, as Bloomberg adds, it was just the opposite - the stock picks have trailed the broader market. The 46 companies that reported the agency as a top 10 shareholder in the past two months lost an average 29 percent since the announcement, versus a 21 percent drop for the Shanghai Composite Index.
Submitted by Tyler Durden on 09/17/2015 - 09:25 "What do we think the Fed shall do? We’ve not the faintest idea and we openly admit that fact. What the Fed will do and what the Fed should do are two wholly separate issues, for we believe strongly that the Fed should have begun to process of “normalizing” rates two years ago and has erred in not having done so, but at this point perhaps it is prudent to wait one or two or even three more months “just to be sure.” The question is, were we voters on the FOMC what would we do? And the answer is, we’d probably vote to hold rates steady."
Crush the Street:
Do you distrust the banking system? Prefer to do business in cash? Complain about the encroachment of Big Brother into every facet of your life?
If you answered “yes” to any of these questions, you’d better watch out. You’re a “person of interest” – and a growing number of businesses must report your “suspicious activities” to the feds. If they don’t, they can be fined and the responsible parties even imprisoned.
These requirements originated in a law called the “Bank Secrecy Act” (BSA). Of course, this Orwellian law has nothing at all to do with protecting bank secrecy. Indeed, the BSA has all but eliminated confidentiality.
I’ve been asked many times about the impending “death of the dollar.” I know some folks who expect the dang thing to die. They’re already envisioning the spectacle. An entire industry has sprung up to prepare and equip people for the moment when the dollar dies. It’s like insurance, the theme goes: hopefully you’ll never need it.
But the dollar is a human creation, a fiat currency. It doesn’t have a life of its own. It’s managed, rigged, and manipulated. It’s an accounting entity, a (lousy) store of value, and a means of handling transactions so you don’t have to barter your first-born for a Lexus.
It’s now been 6 months since the LBMA Gold Price auction, the much touted replacement to the London Gold Fixings, was launched on an ICE Benchmark Administration (IBA) platform on Friday 20 March 2015.
For anyone not au fait with the gold price auction, the LBMA Gold Price is a twice daily auction that produces the world’s most widely used gold price benchmark, which is then used as a daily pricing source in gold markets and gold products across the globe.
The 6 month anniversary of the LBMA Gold Price’s launch thus provides an opportune time to revisit a few unresolved and little-noticed aspects of this recently launched auction a.k.a. global benchmark.
Jewish American Joshua Ryne Goldberg was arrested this week for plotting a bomb attack at a Kansas City 9-11 memorial event.
The Jewish man posed as an ISIS terrorist online.
Joshua Ryne Goldberg, a 20-year old living at his parents’ house in US state of Florida, was arrested and accused of posing online as “Australi Witness,” an IS supporter who publicly called for a series of attacks against individuals and events in western countries.
Goldberg was behind a plot to blow up a Kansas City 9-11 memorial event on Saturday.
Read More @ TheGatewayPundit.com
“A general Dissolution of the Principles and Manners will more surely overthrow the Liberties of America than the whole Force of the Common Enemy.” -Samuel Adams
In a strange twist, Rand Paul has recently allied with Monsanto and has joined the ranks of academic shill Kevin Folta after coming out against GMO labeling, stating that the labeling requirements would push up the price of food for consumers — particularly poor ones.
To make matters worse, this year Rep. Mike Pompeo (from Kansas) proposed a bill that would block states’ citizens from democratically mandating GMO labeling. (Pompeo is also the single largest recipient of campaign funds from the Koch Brothers.) This bill, also known as the DARK (Deny Americans the Right to Know) Act, would effectively block Vermont and other states from being able to vote on or enforce GMO labeling, making it impossible for them to protect their consumers. Pompeo’s bill would instead set up a “voluntary labeling program” that companies could either opt in or opt out of; however, with Big Food’s near monopoly, this approach amounts to little more than wishful thinking.