Submitted by Tyler Durden on 03/03/2016 - 14:13
"She should be terrified of the fact that he’s been granted immunity," adding that "they would not be immunizing him and thereby inducing him to spill his guts unless they wanted to indict someone."
Submitted by Tyler Durden on 03/03/2016 - 15:20 Soidifying its transition into a complete banana republic, on Tuesday Ukraine banned government officials from publicly criticizing the work of state institutions and their colleagues, after what Reuters reported was "damaging disclosures last month that highlighted slow progress in fighting corruption."
Submitted by Tyler Durden on 03/03/2016 - 13:17 Following the unprecedented Romney roundhouse kick to Trump's character, The Donald is about to rebuff "the loser." As John McCain backs Romney's rant, it appears yesterday's Koch Borthers, Icahn, Murdoch mega-donor call for a truce has been broken as Trump prepares to return fire against "failed candidate Romney" and his establishment cronies.
Who Said It: "Donald Trump Has Shown An Extraordinary Ability To Understand Our Economy, To Create Jobs""I am so honored and pleased to have Donald Trump's endorsement. Donald Trump has shown an extraordinary ability to understand how our economy works. To create jobs for the American people. He's done it here in Nevada. He's done it across the country."
- Mitt Romney, February 2012
Submitted by Tyler Durden on 03/03/2016 - 15:05 As UBS exclaims "Now, there is no doubt that the performance in oil is TOTALLY short-squeeze led."
There will be no parades and no media shows which start out as… “we interrupt this broadcast to bring you this breaking news item…”, but the almighty Council of Foreign Relations (CFR) has spoken and they are endorsing a Hillary Clinton, but mostly they have issued a position statement that Donald Trump must be stopped at all costs.
Meanwhile, Hillary Clinton is their choice and has always been their choice to follow Obama into the White House, with her criminal behavior notwithstanding.
As an average American, anytime the CFR, or its first cousin, the Trilateral Commission endorses a candidate, no matter how subtle the endorsement, I assume it is opposite day and move in the other direction.
Submitted by Tyler Durden on 03/03/2016 - 09:04 As of this moment it's official - Canada has fully "broken away with tradition" and has exactly zero gold left: The Government of Canada sold it last 21,851 ounces of gold coins for settlement in February. On February 29, gold holdings stood at 77 ounces. The valuation is based on the February 29, 2016, London p.m. fix of US$1,234.90 per ounce.
Submitted by Tyler Durden on 03/03/2016 - 14:50 “The Brazilian economic downturn took a real turn for the worse in February," according to Markit's Composite PMI, which collapsed to record lows at 39.0. Despite a slightly less bad than expected GDP print this morning (stil down a record 5.89% YoY), hope was quickly extinguished as PMIs showed economic activity continuing to contract at a record pace, job losses accelerating, and manufacturing's collapse accelerating. As Market sums up, "With the global economy also showing signs of slowing, which will impact on external demand, it looks as if the downturn is set to continue to run its course in the coming months."
Submitted by Tyler Durden on 03/03/2016 - 13:58 As of this morning, whether it is due to shorting or not, there has never been a greater shortage of 10Y paper at least as demonstrated by what just happened in the repo market where the 10Y, according to ICAP unit GovPX, hit a whopping -2.90%, or just shy of the fail rate!
Submitted by Tyler Durden on 03/03/2016 - 12:56 “by [any] measure, California’s Big Three public pensions are dangerously underfunded, putting current and future taxpayers at risk.... those relying on public pensions for their retirement are not only going to be requesting funds that simply aren’t there, they are going to be requesting funds from pension systems who have yet to face the third recession in 15 years."
Submitted by Tyler Durden on 03/03/2016 - 12:33 It is now official: OPEC oil ministers are openly lying in their in increasingly more desperate attempts to push the price of oil higher if only by a few cents.
Submitted by Tyler Durden on 03/03/2016 - 12:05 Here are the two most actionable reasons why gold just broke out and soared to $1,260, and is fast approaching levels not seek since January 2015.
Submitted by Tyler Durden on 03/03/2016 - 11:47 Two weeks ago we reported that while for most of 2015, tax withholdings rose at a rate of 5% or more from a year ago, on the back of job growth and gains in wages, commissions and other incentive pay, in recent months there has been a substantial dropoff in this key indicator. Today, TrimTabs put an actual jobs number to this particular decline in tax withholdings: according to the research service, the US added only 55,000 to 85,000 jobs in February, less than half of the official estimate.
Submitted by Tyler Durden on 03/03/2016 - 11:11 Following yesterday's modest drop in US crude production and yuuge build in inventories, headlines about possible Venezuela meetings sent algos into panic-buying mode. This morning the headlines are from Nigeria, whose Petroleum Minister "expects a dramatic price move" claiming a meeting between OPEC and NOPEC will happen on March 20th. Combine that idiocy with significant US Dollar weakness this morning and the surge in Oil ETF share creation and the perfect storm of higher prices in oil (as hedgies pile in).
Submitted by Tyler Durden on 03/03/2016 - 10:46 "We will not allow Greece to be turned into a warehouse of souls! Here from Athens, I want to appeal to all potential illegal economic migrants wherever you are from: Do not come to Europe. Do not believe the smugglers. Do not risk your lives and your money. It is all for nothing."
Submitted by Tyler Durden on 03/03/2016 - 10:26 Extending its gains from yesterday, gold has broken back above $1255 - near 13 month highs - following weak data this morning (ISM/PMI/Factory Orders) and JPMorgan's "Buy Gold" warning.
Submitted by Tyler Durden on 03/03/2016 - 10:21 Moments after speaking with Bloomberg's Michael Schatzker, a speech which generated substantial headlines (and which we will cover shortly), Bridgewater's Ray Dalio took the podium at the University of Texas Board of Directors 20th Anniversary event.
Submitted by Tyler Durden on 03/03/2016 - 10:15 In 60 years, the US economy has not suffered a 15-month continuous YoY drop in Factory orders without being in recession. Today's -1.9% YoY drop may suggest the slide is decelerating, but off the weakness in December (-2.9% MoM), January's bounce +1.6% MoM missed expectations (+2.1%) notably (and Ex-Trans decline MoM).
Submitted by Tyler Durden on 03/03/2016 - 10:02 From the narrative-destroying 49.8 preliminary print for US Services PMI (the lowest since the government shutdown in 2013), today's final February Services PMI printed an even worse 49.7 (below 50.0 expectations) even as stocks have soared in the last 2 weeks. Business confidence tumbles to its lowest since Aug 2010 (record lows). This drops the composite PMI to a dismal 50.0, implying negative GDP growth in Q1. Then ISM Services printed 53.4 (down from January but a small beat) to 2 year lows, confirming the decoupling from manufacturing's demise was a fallacy (merely a lagged response) as the last leg of the economic recovery's stool gets kicked away.
“Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewellery. It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.” – Alan Greenspan, ex-US Federal Reserve Chairman, August 23, 2011
The astonishing strength behind the most recent rally in gold is known to all readers. Also, the reasons behind gold’s change in fortune have been well documented by such writers as Michael Pento, Egon Von Greyerz, Peter Schiff, Marc Faber, James Turk, Rick Rule and on this site by Clive. Hence, there is no need to discuss this here. Suffice it to say that the scale of the developing global financial and economic crisis has no historic precedent.
Donald Trump’s emergence as the Republican frontrunner and possible future U.S. President is causing some gold and investment analysts to suggest diversifying into gold according to the Wall Street Journal.
From the WSJ:
The other winner from Super Tuesday could be gold.
With Donald Trump solidifying his status as the front runner in the Republican field, some investors and analysts watching from overseas say that the ascendancy of the brash New York businessman could rattle global markets as the November presidential election inches closer. Nervous investors, they say, could pile in to gold and other safe-haven assets as an insurance policy.
I got frustrated Monday morning on the Schuylkill Expressway when traffic ground to a halt just before City Line Avenue. I impulsively got off at City Line Avenue and traveled up to Belmont Ave. I took Belmont through Fairmount Park (where dead bodies are found on a regular basis) to Girard Avenue. After making the left on Girard, you enter a land time forgot, along with hammers, brooms, paint brushes, trash cans, marriage licenses, school books or condoms. This stretch of West Philly makes the area around the zoo seem like paradise.
The vacant, trash strewn, weed infested lots along this decaying stretch of squalor are the highlight of the trip. There are a couple bars, nail salons, and daycare centers (can you imagine the “care” the children receive).
Unlike most forms of government revenue, there is really no way to disguise civil asset forfeiture as something it’s not. It’s outright theft, and that’s all there is to it. If you’ve committed a crime, even a minor one, the police can seize your stuff. They can steal it from you even if someone else used your property during a crime without your knowledge. In some cases, they can even steal from you if they so much as suspect that you may have committed a crime or intended to commit a crime. To anyone with half a brain and a conscience, it’s obvious that this is just state sanctioned robbery.
When the police seize assets from ordinary citizens, there is often no recourse.
Have you happened to notice that our society is out of balance?
The consumers outnumber the producers at such a rapid clip that we can’t possibly continue like this. But who has time to produce when they are indebted and working overtime to finance their current lifestyles in the hopes that they will finally be able to buy “enough” to be happy, fulfilled, and loved?
We live in a society made up mostly of rabid consumers. As soon as the advertising pros on Madison Avenue point them in a given direction, people flock to it like the zombies on The Walking Dead lurch toward a fresh human, completely oblivious to everything else.
In my opinion, Hillary Clinton will be President in 2017. Yes, Donald Trump will most likely be the Republican presidential nominee but the Presidential elections are still 9 months away and anything can happen. You see, whoever occupies the White House will have to follow the blueprint supplied by a political machine or the system. What is the “machine”? John F. Kennedy’s address before the American Newspaper Publishers Association on April 27, 1961 when he spoke about how the system operates:
“It is a system which has conscripted vast human and material resources into the building of a tightly knit, highly efficient machine that combines military, diplomatic, intelligence, economic, scientific and political operations.”
Many Sandy Hook truth seekers may have heard about it by now, it’s a website owned by “Lenny Pozner” supposed grieving father of murdered child “Noah Pozner” at Sandy Hook. He calls it the “Honor Network” (spelled Honr); a site dedicated to criminalizing anyone who asks questions about Sandy Hook. Those asking questions are profiled as thugs, insensitive harassers and cruel “hoaxers”. The shocking words used on this site are words everyone should be aware of:
We bring awareness to the cruelty and criminality of Hoaxer activity and, if necessary, criminally and civilly prosecute those who wittingly and publicly defame, harass, and emotionally abuse the victims of high profile tragedies and/or their family members. We intend to hold such abusers personally accountable for their actions, in whatever capacity the law allows.
In the mid-1950s, neurophysiologist Carl Wilhelm Sem-Jacobsen built his own EEG lab at Gaustad psychiatric hospital in Norway with copious funding from the Rockefeller, Ford, and other “charitable” foundations. He soon took on multiple US government contracts from the Air Force, the Navy, and NASA for research using electrodes implanted in the brains of psych patients to carry out what many have said was unethical research on them.
It is widely believed today that Sem-Jacobsen was really doing his brain research, which continued for years, under the auspices of MKUltra.
Peter Ford, who was the UK’s Ambassador in Syria during 2003-2006, was asked by the BBC in their “The Big Questions” interview on February 14th, whether the current Syrian President Bashar al-Assad would have to be a part of the solution in that country after the war is over, and Ambassador Ford said:
“I think sadly, but inevitably, he is. Realistically, Assad is not going to be overthrown. This becomes more clear with every day that passes. Western analysts have been indulging in wishful thinking for 5 years; it’s time to get real, we owe it to the Syrian people to be much more realistic and hard headed about this. The West has to stop propping up the so-called ‘moderate opposition’, which is not moderate at all.”