"The deterrent of nuclear weapons has started to lose its value, and some have even got the illusion that a real victory of one of the sides can be achieved in a global conflict, without irreversible consequences for the winner itself – if there is a winner at all."
Submitted by Tyler Durden on 10/22/2015 - 21:39 Chinese stocks are not as exuberant as European, Japanese (which are rolling over), and US markets at the open as they cling to unchanged for the day and week (despite margin debt rising to a six-week high). The main event in AsiaPac trading appears to be a huge re-entry into the EUR-ANY-EM-FX carry trade as The USDollar gets pummeled against Asian FX (despite EUR weakness). PBOC weakened the Yuan fix by the most in 8 days to its lowest in 2 weeks.
from Prepper Recon:
Author of the 299 Days book series, Glen Tate is back on the show today to talk about the threat of communism to the remnants of freedom in America. We cover gun control, wealth redistribution, and the impending economic collapse.
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Kuroda says “robust”, Yellen proclaims “strong”, and both only confirm they live not of this world’s economy.
Suppose you plan to buy gold, hold it 10 years, and sell it at the end. Is it more cost-effective to buy physical metal, store it, and sell it at the end? Or are you better off buying futures?
It’s easy to calculate the cost of physical metal. If you buy at $4 over spot, that’s about 35 basis points (bps). You will also pay for storage an insurance, say 30 bps per year. In 10 years, you sell it at the spot price. Your total cost is about 3.3%. If you started with enough to dollars to buy 400oz of gold, then at the end you would have dollars equal to about 386.8oz at the then-current price of gold.
Futures contracts are more complicated. When you buy, there is almost no premium (10 or 20 cents). However, there is a commission of around $0.25 an ounce. So initially, you get more gold.
Not so long ago, a bank was by definition a business that took deposits from customers, paid them for the use of their money, and lent the cash to other customers at a profit. But that’s not how it works anymore:
Big banks to big American companies: We don’t want your cash
State Street Corp., the Boston bank that manages assets for institutional investors, for the first time has begun charging some customers for large dollar deposits, people familiar with the matter said. J.P. Morgan Chase & Co., the nation’s largest bank by assets, has cut unwanted deposits by more than $150 billion this year, in part by charging fees.
In a Wednesday Sputnik News interview, I said Putin and Assad can discuss anything any time by phone or other ways of communicating – daily if necessary.
Assad’s invitation to Moscow, making Western media headlines, shows solidarity between both leaders – committed to eliminate terrorism, defeat US regional imperial policy, as well as Putin’s respect for Syrian sovereignty and the right of its people alone to decide who’ll lead them, not America or any other foreign power.
Assad and Putin partnered against the scourge of US sponsored and imported terrorism in Syria. It’s virulent in Iraq. Washington wants it spread to Russia, Central Asia, China and elsewhere, part of its dirty scheme to advance its imperium.
The Dodd-Frank regulations are so lethal to community banks that some say the intent was to force them to sell out to the megabanks. Community banks are rapidly disappearing — except in North Dakota, where they are thriving.
At over 2,300 pages, the Dodd Frank Act is the longest and most complicated bill ever passed by the US legislature. It was supposed to end “too big to fail” and “bailouts,” and to “promote financial stability.” But Dodd-Frank’s “orderly liquidation authority” has replaced bailouts with bail-ins, meaning that in the event of insolvency, big banks are to recapitalize themselves with the savings of their creditors and depositors. The banks deemed too big are more than 30% bigger than before the Act was passed in 2010, and 80% bigger than before the banking crisis of 2008. The six largest US financial institutions now have assets of some $10 trillion, amounting to almost 60% of GDP; and they control nearly 50% of all bank deposits.
Spend and they will borrow or print money to fund it. The debt ceiling limit currently is $18.1 trillion. This number is 101% of the Government over-estimated GDP. If you add in the $7 trillion of taxpayer guaranteed Fannie Mae and Freddie Mac mortgage debt, the true directly funded level of Government debt is about $25 trillion, or 138% of the overestimated GDP.
The Treasury hit the debt ceiling limit earlier this spring. Since then Jack Lew has been borrowing cash from various “pools” of dedicated Government spending accounts, like Social Security and the Federal Employee Pension Plan (but not the Congressional Pension Plan, of course). Lew was on CNBC a couple days explaining that his “smoke and mirror” tactics are now exhausted and if the debt ceiling is not raised, the Government will default on obligations.
What Isn’t Imploding Now Wednesdays with Andrew Hoffman:
The battle for gold and silver’s 200 DMA’s at 1176 an 15.97 – wrote of it the past three days, culminating in today’s “PM manipulation primer”
– Collapsing economic data
– China, Japan, U.S.
– Debt ceiling 11/03 “terrible accident”
– Collapsing commodities anew
– “Unspeakable horrors”
– Worst earnings season since 2009
– Earnings down year over year
– WMT, IBM, NFLX, TSLA, etc.
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TThe American Empire is deteriorating. It’s been going downhill for decades. The descent is likely to continue, alleviated irregularly by policies that retard the decline or even reverse it for a time.
The general pattern set by declines of previous empires is occurring in this country. There have been at least 215 empires in the last 5,000 years. They have all declined and fallen, as will the American Empire.
The IDEA that there is an American Empire is not widely recognized by the general public. It’s not taught in the public school’s history books. Scholars still debate it. American leaders spread other myths like exceptionalism that obscure the concept and prevent the public from realizing it.
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Hillary Clinton, the self-proclaimed “progressive moderate,” (?) has been going out of her way to stump for gun control on the campaign trail lately.
On top of announcing her own gun control plan which includes the executive orders she’d sign if she becomes president, Hill’s latest comments regard implementing Australia-style compulsory gun control here in the U.S.
Via The Hill:
“I don’t know enough details to tell you how we would do it or how it would work, but certainly the Australia example is worth looking at,” Clinton told a New Hampshire town hall on Friday…Read More