Submitted by Tyler Durden on 09/21/2015 - 13:32
Forget about a housing recovery: for the vast majority of Americans, the housing crisis is about to get worse. Much worse.
On Monday, September 14, 2015, based on our analysis, we bought Gold on the rumor of a rate increase. On Friday, September 18, 2015, based on our analysis, we sold the news into profits and furthermore we put on ‘paper’ short positions, expecting one final drop in the price on gold and silver into a specific date before the end of this month, September 2015.
This next and final September date and cycle low is expected to be the final entry point for years to come!
This September entry point is expected to be the time point refer to by many as the point to ‘Backup the truck, unload all paper and buy every last ounce of Physical Gold and Silver one can afford’!
The price of gold and silver is set to explode according to one of the most well known CEO’s in the precious metals mining space.
Keith Neumeyer, the CEO of one of the world’s lowest-cost primary silver producers, says that the negative headlines surrounding history’s most trusted monetary instruments will soon give way and the smart money, including the likes of George Soros and Carl Icahn, is taking massive positions ahead of the breakout.
Neumeyer, who has created two billion-dollar companies and recently founded the mineral bank investment firm First Mining Finance, argues that the fundamentals are simply too great to ignore.
The world’s leading central banks are facing the risk that their massive efforts to revive economic growth could be dragged down again, with some officials arguing for bold new ideas to counter the threat of slow growth for years to come.
A day after the U.S. Federal Reserve kept interest rates at zero, citing risks in the global economy, the Bank of England’s chief economist said central banks had to accept that interest rates might get stuck at rock bottom.
In Japan, where interest rates have been at zero for more than 20 years, policymakers are already tossing around ideas for overhauling the Bank of Japan’s huge monetary stimulus program as they worry that it will be unsustainable in the future, according to sources familiar with its thinking.
Submitted by Tyler Durden on 09/21/2015 - 16:08
Submitted by Tyler Durden on 09/21/2015 - 17:00 "We’re not Bolivia for God’s sake"...
Submitted by Tyler Durden on 09/21/2015 - 16:31 While Mr. Dimon's view - "Amerca has the best hand ever dealt right now." is certainly uplifting, it is a bit delusional. But of course, give any person a billion dollars and they will likely become just as detached from economic realities. Does America have "greatest hand ever dealt." The data certainly doesn't suggest such. However, that can change. We just have to stop hoping that we can magically cure a debt problem by adding more debt and then shuffling it between Central Banks.
The "Economissed" Track Record Revisited: Last Month, 82% Of "Experts" Expected A September Fed HikeSubmitted by Tyler Durden on 09/21/2015 - 15:55 Because the only people worse at their jobs than weathermen are economists...
Submitted by Tyler Durden on 09/21/2015 - 15:33
Submitted by Tyler Durden on 09/21/2015 - 15:22 The National Highway Traffic Safety Administration (NHTSA) and the Alliance of Automobile Manufacturers is currently working on a plan to put alcohol detection systems in every vehicle. The plan, called Driver Alcohol Detection System for Safety (DADSS), is still in its early stages, and while they are calling this technology “non-invasive” but it tests the content of your blood every time you get into your vehicle, which by its very nature is extremely invasive.
Submitted by Tyler Durden on 09/21/2015 - 15:20 As Benjamin Netanyahu visits Moscow to discuss the possibility that Russian arms delivered to Syria could end up being funneled to Hezbollah, the action on the ground heats up with the Russian embassy in Damscus coming under mortar fire. The Kremlin has condemned the attack as "criminal" and is now calling for "action."
Submitted by Tyler Durden on 09/21/2015 - 14:44 Two weeks ago, when no one was talking about the possibility of a government shutdown, we warned it was coming. Today, as Politico reports, with very little time left to reach a deal, budget experts project a 75% chance of a shutdown. No matter how immaterial in terms of their economic impacts, government shutdowns create uncertainty and thus influence Fed decisions and as SocGen notes, with the odds of an October liftoff low, a government shutdown could lower them further. Although funding issues should be resolved by the December FOMC meeting, there is a small chance that the fiscal standoff extends into the end of the year (i.e. due to a temporary continuing resolution), creating another deterrent for the Fed.
Submitted by Tyler Durden on 09/21/2015 - 14:21 It's no secret that Brazil was long expected to be the epicenter of any future EM crisis just as it was, in many ways, the picture of EM success during better times. That said, even we’ve been surprised with the pace at which the situation has deteriorated and in the wake of the S&P downgrade the market is now left to ponder just how much worse things can get. According to Goldman the list of obstacles is laughably long.
Submitted by Tyler Durden on 09/21/2015 - 13:56 The Federal Reserve system was created in December 1913 with the stroke of the pen by then President Woodrow Wilson. Since that time, consumer purchasing power has fallen from $1,000 in December 1913 to … $40 today.
Submitted by Tyler Durden on 09/21/2015 - 13:47
Submitted by Tyler Durden on 09/21/2015 - 13:08 The technical pattern for S&P 500 and many other US and global equity market indices is sell rallies, according to BofAML's Stephen Suttmeier, who notes that the market is as overbought now as it was in July. Current price action suggests “dislocation” rather than “capitulation” and we continue to see the risk of retest / undercut of the August 2015/October 2014 lows of 1867-1820.
It’s Monday – and though I’m long past the point where unprecedented, 24/7 money printing, market manipulation, and propaganda “surprises” me, it’s still difficult for my Spock-like brain to process the idiocy our “leaders” exhibit. Much less, how anyone still take seriously the financial “markets” that, for many years now, have as much semblance of freely-traded, price discovering mechanisms as apples do to oranges.
As you know, last week ended on an extremely sour note – with stocks and commodities plunging following the Fed’s decision to maintain zero interest rates.
There is no stopping the rise in the price of gold. As long as world Central Bankers continue to increase the quantity of fiat currencies, because Gold’s production is limited, a simple supply and demand equation predicts gold must go higher. – Robert McHugh, McHugh’s Market Forecasting & Trading Report
The Fed may have opened Pandora’s Box with regard to its ability to continue holding down the price gold. From Yellen’s press conference:
Census data is always released in September for the previous year. As far as comprehensive data goes the Census is one of the best measures that we have. The latest Census figures merely reflect an economy that is crushing the American Dream. It also helps to highlight why so many people have profound doubts regarding this so-called recovery. The latest Census figures show that a record number of Americans now live in poverty. The total number of Americans living in poverty is 46.7 million. We also have a large number of Americans working in low-wage jobs and being perilously close to being in poverty. This is not what people have in mind when we talk about a recovery. The problem, of course, is the financialization of the system where a massive bull run in stocks simply went to consolidated wealth into fewer hands. Big banks got bigger while household income reverted back to where it was in 1989.
Believe in owning gold and silver now?
Don’t own just any investment in physical bullion, say Eric Sprott and Rick Rule, who prefer the Sprott Physical Bullion Trusts. Shares in these trusts are backed by physical precious metals.
As Rick Rule puts it, “the Sprott products were designed by consumers — in particular Eric Sprott himself — and they came with some fairly user-friendly features like the efficient US tax treatment, physical redemption which limits the discount to NAV associated with them, and of course the liquidity that the Sprott products enjoy.”