Submitted by Tyler Durden on 03/08/2016 - 21:15
Frontrunners Donald Trump and Hillary Clinton will both face fresh tests on Tuesday, in their respective quests for their party’s presidential nomination. The main prize: Michigan. Here is your full preview.
Submitted by Tyler Durden on 03/08/2016 - 16:30 In nearly every single major recession and panic of the last century, there was a sharp rise in the gold/silver ratio. The crash of 1987. The Dot-Com bust in the late 1990s. The 2008 financial crisis. At 82x, this isn’t normal. In modern history, the gold/silver ratio has only been this high three other times, all periods of extreme turmoil—the 2008 crisis, Gulf War, and World War II. This suggests that something is seriously wrong. Or at least that people perceive something is seriously wrong.
Submitted by Tyler Durden on 03/08/2016 - 22:10 What this picture shows is that government, economists, and presstitutes are allied against citizens achieving any financial independence from personal saving. Policymakers have a crackpot economic policy and those with control over your life value their scheme more than they value your welfare. This is the fate of people in the so-called democracies. But the greed, fraud, and self-serving behavior of Western financial systems, aided and abeted by governments, could be leading to such a breakdown of economic life that the idea of a private financial system will become as abhorent in the future as Nazism is today.
Submitted by Tyler Durden on 03/08/2016 - 19:00 As the crisis develops, our deeply indebted government will act like a giant wounded beast, lashing out in all directions. It will grow more desperate for control. It will grow desperate for money. And just like FDR did in the 1930s, it will confiscate the wealth of private citizens. But Hillary Clinton (or Donald Trump, or whoever wins the election) won’t go after your gold. Nowadays, the gold market is very small compared to the overall economy. Going after gold would be too much work for the government. The government is going to go after YOUR CASH.
The Sheep will do as they are told...
Submitted by Tyler Durden on 03/08/2016 - 12:11
Submitted by Tyler Durden on 03/08/2016 - 21:10 "In retrospect the idea that an increasingly internationalized political elite would automatically remain faithful agents of their own populations should have rang alarm bells." Who are the internationalized political elite faithful too?
Submitted by Tyler Durden on 03/08/2016 - 20:40 Yesterday marked the 40th day in a row that total known holdings of Gold in ETFs rose. Not since January 6th has the precious metal seen a reduction in holdings. This is the longest streak of increased holdings since ETFs were born as it seems, despite exuberant equity bounces, reassurance about the awesomeness of the "jobs" recovery, and Fed confidence-inspiring jawboning that more than a handful of 'goldbugs' are hoarding the pet rock.
Submitted by Tyler Durden on 03/08/2016 - 20:05 The comparison of Bernie to Ron goes like this: both launched insurgent, anti-establishment presidential campaigns while in their 70s, shook up their respective party establishments, and attracted large youth followings. But Bernie is no Ron. More importantly, Ron urged his followers to read and learn. Bernie’s platform merely regurgitates the fallacies and prejudices his young followers already imbibed in school. What more is there to read?
Submitted by Tyler Durden on 03/08/2016 - 19:30 From Bahamian crawfish to Mexican shoes, and from Argentine soybeans to Ethiopian coffee, the world makes (and trades) in far more than just crude oil and petroleum products. However, given the current deflationary world, it is very notable how many countries in the world are dependent on commodities as the primary source of foreign income.
Submitted by Tyler Durden on 03/08/2016 - 18:36
Submitted by Tyler Durden on 03/08/2016 - 18:10 While India’s gross gold bullion import in 2015 reached the third highest amount ever at 947 tonnes and gross silver bullion import reached the highest amount ever at 8,504 tonnes, the Indian government is perpetually trying to obstruct the populace from protecting their wealth.
Submitted by Tyler Durden on 03/08/2016 - 17:27 "JP Morgan is raising equity in a company with questionable prospects and using the funds to repay debt the company owes JP Morgan. The arrangement allows JP Morgan to get its money out prior to lenders subordinated to it get their $401 million payment."
Submitted by Tyler Durden on 03/08/2016 - 17:20 While the world’s central banks struggle with deflation, millennials (those born between 1980 – 2000) are busy creating a world where persistently lower prices will be an economic cornerstone. "The expectation of deflation is already incorporated in millennial psyche, so it doesn’t necessarily delay spending as seen in Japan. We adopt technologies that force deflation. Therefore, in our world, deflation is the mark of a healthy economy."
Submitted by Tyler Durden on 03/08/2016 - 16:55 So Un-Presidential...
Submitted by Tyler Durden on 03/08/2016 - 16:38 Following Genscape's projection that Cushing inventories rose less than expected, various sources on Twitter report that API sees a 4.4mm build (in line with expectations of a 3.9mm build) after EIA's massive build of over 10.3mm barrels last week. Cushing saw a 692k build - the 6th week in a row but gasoline and distillates saw a draw. Crude sold off all day as the short-covering squeeze ended but as the data hit, WTI dipped, ripped, and dipped again... only to rally once more...
Submitted by Tyler Durden on 03/08/2016 - 15:40 In late January, when Haruhiko Kuroda took Japan into NIRP, he made it official. He was full-everything. Full-Krugman. Full-Keynes. Full-post-crisis-central-banker-retard. Now, he's managed to ease and expand his way into a contractionary tightening.
EIA's Dire Oil Forecast: $34 Crude Due To Far More Resilient Production, Oversupply And Lower DemandSubmitted by Tyler Durden on 03/08/2016 - 15:24 Brent crude oil prices are forecast to average $34/b in 2016 and $40/b in 2017, $3/b and $10/b lower than forecast in last month’s STEO, respectively. The lower forecast prices reflect oil production that has been more resilient than expected in a low-price environment and lower expectations for forecast oil demand growth.
This Friday, it will officially have been 5 years since the Tōhoku earthquake and tsunami disabled Tepco’s nuclear power plant in Fukushima. But despite the passing of 5 years, we still don’t really know much damage this disaster really caused. We don’t know what the long-term effects will be on the environment, or on the people of Japan, and both Tepco and the Japanese government have lied to the world about the gravity of the situation.
And the situation is still much more serious than they’ve been letting on. We know that plant is still leaking radiation, we know the ocean and the area surrounding Fukushima is still radioactive, and we know that the nuclear power plant is a flimsy house of cards that could crumble at any moment.
The black swans are circling like vultures now. Dark economic events seem to be flying in out of nowhere for those who have vision to see them. Even dovish New York Fed President William Dudley, who cannot tell the difference between money and hot air, sees a lot of black in the skies now and says that he is less confident about the economy than he was when he and his Feddish partners voted to raise interest rates last December:
Dudley, a close ally of Fed Chair Janet Yellen and a permanent voter on U.S. monetary policy, suggested that the sharp global economic slowdown, stock-market sell-off and oil price slide since the beginning of the year may force the Fed to tighten monetary policy even more slowly…. With turbulence in global financial markets reflecting mixed economic signals, the risks appear to have increased. (NewsMax)
Mapping the emerging global economic, political and military configurations requires that we examine regions and countries along several dynamic policy axis:
Capitalist versus anti-capitalist, Neoliberal versus anti-neoliberal, Austerity versus anti-austerity, War command centers and war zones, Political change and socio-economic continuity, New Order and political decay
Though many of these dimensions overlap, they also highlight the complexity and influence of local and national versus global power relations.
From the time I was able to vote, I voted Republican. Mom and Dad were Republicans and I was raised that way.
To the surprise of most, mining stocks continued their stunning upward move that began around January 20. Toward the end of last week, financial media goons, chart readers and analysts who rely on the CFTC’s Commitment of Traders report for “insight” into market direction were all calling for a sharp pullback in the precious metals sector. Most market “oracles” were calling for a sharp retreat in the price of gold below $1100 and silver below $14.
Perhaps most amusing about the plethora of “correction time” and “overbought” commentary on the metals sector is: 1) because of the overt and continuous official intervention in the precious metals sector since 2011, it could be argued that the entire sector has been “artificially” oversold for the better part of five years; we don’t know where the true “oversold/overbought” statistical levels should be because natural price discovery in the sector has been completely suffocated; 2) the current stock market, adjusted for bona fide GAAP numbers, is the most overvalued in history; the stock market, by the same intervention/manipulative forces holding down the metals, has been artificially “overbought for at least 3-4 years now; yet, no one writes commentary on the need for a big price correction in the stock market.