With continued volatility in global markets, today one of the top economists in the world sent King World News an incredibly powerful piece about the terrifying future that we all face.
I started Pento Portfolio Strategies three years ago with the knowledge that the unprecedented level of fiat credit creation had rendered the globe debt disabled and would result in mass global sovereign default. As a consequence, there would be wild swings between inflation and deflation dependent upon the government provisions of fiscal stimulus, Quantitative Easing and Zero Interest Rate Policies…
Fed Quietly Revises Total US Debt From 330% To 350% Of GDP, After "Discovering" Another $2.7 Trillion In DebtSubmitted by Tyler Durden on 10/11/2015 - 15:36 The Fed has managed to kill two birds with one stone: it no longer provides a simple, one-stop-shop way to reconcile the total US credit stock, and it quietly boosted total US consolidated credit by $2.7 trillion to $62.1 trillion as of June 30, 2015.
Submitted by Tyler Durden on 10/11/2015 - 16:43 According to the WSJ, the Pentagon is offering "condolence payments" to the civilians injured and the families of those killed by a U.S. airstrike that destroyed a hospital near Kunduz, Afghanistan. Because, the thinking probably goes, human lives are like any other commodity and can be measured in reserve notes. However, what is more disturbing is that since the US prints the world's reserve currency, should Obama proceed to exterminate countless other "collaterally damaged" civilians, all that the US will need to do is print a few more million to wash its - and that of the "free and democratic world" - conscience, and all shall be well in all future cases.
Less than two weeks after the shooting at Umpqua Community College in Oregon, Nevada Assemblywoman Michele Fiore says studying the safety of Big Pharma’s psych drugs is a necessity. Despite deceptive reports in the mainstream media and lying politicians, the Umpqua shooting is actually the first mass school shooting of 2015, based on analysis of data from Everytown for Gun Safety, an anti-Second Amendment group headed by former NYC Nanny Mayor Michael Bloomberg, a billionaire who employs armed bodyguards.(1,2)
“We have to look into what is being prescribed and what is in these meds just like clinical studies,” the Republican Assemblywoman said. “Why don’t we do studies on the medication all of these shooters were taking and take that medication off the market? Obviously, medications can alter your mind just as alcohol can alter the mind.”(1)
Submitted by Tyler Durden on 10/11/2015 - 16:05 The sprawling Trans-Pacific Partnership deal would affect a variety of issues, including tariffs, labor rights, and international investment. But the deal's most controversial provisions are the ones limiting competition in the pharmaceutical industry. According to Doctors Without Borders, "The TPP will still go down in history as the worst trade agreement for access to medicines in developing countries."
Submitted by Tyler Durden on 10/11/2015 - 14:45
Submitted by Tyler Durden on 10/11/2015 - 14:00 The chances of escalation from a proxy war to outright war just went to 11 on the Spinal Tap amplifier of sabre-rattling. A day after British and NATO pilots were reportedly given the green light to take drastic action against Russian fighter jets if they come under threat during missions over Iraq, Interfax reports that the Russian Defense Ministry has demanded clarification. Senior defence sources say it is just a matter of time before our fighters are involved in a deadly confrontation with Russian jets.
Submitted by Tyler Durden on 10/11/2015 - 13:15 The Fed needs to extricate itself from manipulating the financial markets. It needs to end backstopping market liquidity. It must never again print Trillions of new “money” out of thin air. Because so long as the marketplace perceives that the markets are "too big to fail", there will be speculative excess, major securities markets mispricings and Bubble fragilities. No one – average investor or sophisticated financial operator – has a clue as to the degree Fed policies have distorted asset prices.
Submitted by Tyler Durden on 10/11/2015 - 12:29 "...declining velocity of money requires an ever rising level of monetary stimulus, which further depresses velocity of money, and requiring even further QEs. Also as countries compete in a diminishing pool by discounting currencies, global demand compresses, as current account surpluses in these countries rise not because of exports growing faster than imports but because imports decline faster than exports. This implies less demand for the global economy."
With every social program that is enacted, every attempt at a re-distribution of wealth by our political “leaders” we are shamed into reluctant submission by our vague notions of Christian charity. We have been raised to “feed the hungry” and “clothe the naked” and “provide a home for the homeless”. Politicians and religious leaders, who have made social justice their god, quote scriptures to us, validating their own agenda; “He who shuts his ears to the cries of the poor will be ignored in his own time of need” (Proverbs 21:13), “If you give to the poor, your needs will be supplied! But a curse upon those who close their eyes to poverty.” (Proverbs 28:27), “Happy is the generous man, the one who feeds the poor” (Proverbs 22:9). Even the Pope, who is arguably the most important religious leader in the western world, uses God to bolster his own vision of fairness and equality. But these leaders, both political and religious, are at best, ignorant or at worst, true masters of deceit.
You ain't seen nothin yet...
“And the little screaming fact that sounds through all history: repression works only to strengthen and knit the repressed.” – John Steinbeck, The Grapes of Wrath
Everyone has seen the pictures of the unemployed waiting in soup lines during the Great Depression. When you try to tell a propaganda believing, willfully ignorant, mainstream media watching, math challenged consumer we are in the midst of a Greater Depression, they act as if you’ve lost your mind. They will immediately bluster about the 5.1% unemployment rate, record corporate profits, and stock market near all-time highs. The cognitive dissonance of these people is only exceeded by their inability to understand basic mathematical concepts.
It is easy to interpret the signals of our economy from afar when we see people driving cars everywhere and we tend to think that our economy is not that bad.
The fact remains that 40 years ago Americans owned those cars that we see them driving. Today, we are renting them as 40% of us are leasing our vehicles.
As we drive up and down our neighborhoods, we see people living in houses and we lie to ourselves as use this as a false barometer to convince ourselves that everything is OK.
If you haven’t had a chance to listen to Dr. Paul Craig Roberts discuss the impact of the refugees on Europe you really should take time out for the detailed description of how this could end NATO and the European Union (EU). Now that some of the EU member states are beginning to act, it would appear, we are drawing closer to one of two ends; either all out war or the end of the EU and NATO.
The warmongers are probably not going to go quietly into the night and this is probably one of the reasons the U.S. presstitutes have ramped up their propaganda efforts against Russia attacking CIA funded ISIS “moderate rebels” in Syria. While Russia is fully exposing ISIS as an imaginary “enemy”, you can bet the U.S. is making plans for their next move. The withdrawal of funding for ISIS/al-Queada “training” in Syria is a major blow to the CIA funded boogeyman.
Ever since the plans for the Trans-Texas Corridor (AKA NAFTA Superhighway) were canceled by the Federal Government and the Texas State Legislature, the theories surrounding the North American Union have largely fallen out of public’s awareness. However, every now and then a story will emerge that suggests that the governments of North America are still quietly conspiring to unite Canada, Mexico, and the US into a superstate, much like the European Union.
The latest revelation of this plan comes from Canada, where it’s been revealed that Chief of the Defence, Staff Gen. Tom Lawson and the former chairman of the U.S. Joint Chiefs of Staff, Gen. Martin Dempsey, once discussed a plan to fully integrate the militaries of the US and Canada.
It seems one of the riskiest things you can do in Yemen these days is get married. This past Wednesday two Saudi airstrikes on a wedding in Dhamar province, 50 miles south of the capital, Sanaa, killed between 23 and 30 people (depending on the report).
This just one week after Saudi airstrikes targeted a wedding party in Taiz province, killing 131. That strike was the deadliest single incident since the start of Saudi airstrikes against Yemen’s Houthi-led rebels in March.
Get ready they will probably flood the market with paper silver and gold to drive the price down again...
With gold and silver in the early stages of what appears to be a MAJOR trend change, The Doc and Eric Dubin break down all the action:
– Fed Reverse Repos Supernova- 3 Alarm Fire at the Fed & ECB!
– Silver Shortage Eases As Premiums Decline Slightly- Were Metals Dealers Holding Back Silver Inventories?
– Derivatives Crisis Underway? HUGE Behind the Scenes Operations Attempting to Put Out MASSIVE FIRES
– Eric Explains Why Deutsche Bank is a “Time Bomb That is Going Off at Some Point!”
The Central Banks hate physical cash. So much so they there will likely try to ban it in the near future.
You see, almost all of the “wealth” in the financial system is digital in nature.
1) The total currency (actual cash in the form of bills and coins) in the US financial system is a little over $1.36 trillion.
2) When you include digital money sitting in short-term accounts and long-term accounts then you’re talking about roughly $10 trillion in “money” in the financial system.
3) In contrast, the money in the US stock market (equity shares in publicly traded companies) is over $20 trillion in size.