Submitted by Tyler Durden on 05/16/2016 - 11:57
"This is the greatest monetary experiment in history. Why wouldn’t it lead to the biggest collapse? Logic dictates to me that it’s inevitable..."
Mutiny Among The "Magic People" - India Central Banker Admits "The Ammo Is Almost Gone"
Submitted by Tyler Durden on 05/16/2016 - 11:15 The self-described "magic people" who "give to the markets" are facing a mutiny this morning as Raghuram Rajan, the head of the Indian central bank, admits central banks and governments of rich countries are running out of ammunition for stimulating their economies... but they can never admit as much. Crushing the dreams of "extreme monetary policy"-setters, Rajan goes on to discuss the sanity of 'helicopter money' warning that people will not be 'stimulated' to spend but will question: "What kind of world are we in when the central bank prints money and throws it out of the window?"
by Michael Snyder, The Economic Collapse Blog:
The full-blown economic collapse that is happening in Venezuela right
now is a preview of what Americans will be experiencing in the not too
distant future. Just a few years ago, most Venezuelans could never have
imagined that food shortages would become so severe that people would
literally hunt dogs and cats for food. But as you will see below, this
is now taking place. Sadly, this is what the endgame of socialism looks
like. When an all-powerful government is elevated far above all other
institutions in society and radical leftists are given the keys to the
kingdom, this is the result. Food shortages, looting and rampant
violent crime have all become part of daily life in Venezuela, and we
all need to watch as this unfolds very carefully, because similar
scenarios will soon be playing out all over the planet.
Read More
The full-blown economic collapse that is happening in Venezuela right
now is a preview of what Americans will be experiencing in the not too
distant future. Just a few years ago, most Venezuelans could never have
imagined that food shortages would become so severe that people would
literally hunt dogs and cats for food. But as you will see below, this
is now taking place. Sadly, this is what the endgame of socialism looks
like. When an all-powerful government is elevated far above all other
institutions in society and radical leftists are given the keys to the
kingdom, this is the result. Food shortages, looting and rampant
violent crime have all become part of daily life in Venezuela, and we
all need to watch as this unfolds very carefully, because similar
scenarios will soon be playing out all over the planet.Read More
from ZeroHedge:
As Venezuela gives the world a first hand look at how socialism ends,
the U.S. is growing more and more concerned about how everything is
going to play out once the meltdown is complete.
The concern of course is valid, as at this point, the immediate future looks quite grim. Looters have taken to the streets, clearing supermarket shelves of all available food as the country begins to starve, and in order to try and preserve the what little time he has left, president Maduro recently declared a 60-day state of emergency.
According to Reuters, senior U.S. officials doubt that President Maduro will be able to complete his term, which ends after elections in late 2018. As the U.S. kicks around possible scenarios for how this will all end, from a referendum vote to military coup, one thing is becoming more and more certain: “You know there’s a crisis coming.”
Read More
As Venezuela gives the world a first hand look at how socialism ends,
the U.S. is growing more and more concerned about how everything is
going to play out once the meltdown is complete.The concern of course is valid, as at this point, the immediate future looks quite grim. Looters have taken to the streets, clearing supermarket shelves of all available food as the country begins to starve, and in order to try and preserve the what little time he has left, president Maduro recently declared a 60-day state of emergency.
According to Reuters, senior U.S. officials doubt that President Maduro will be able to complete his term, which ends after elections in late 2018. As the U.S. kicks around possible scenarios for how this will all end, from a referendum vote to military coup, one thing is becoming more and more certain: “You know there’s a crisis coming.”
Read More
Oil Driller Hedges Soar To Five Year Highs
Submitted by Tyler Durden on 05/16/2016 - 15:25 Oil producers and merchants increased their short position in WTI by 3.8% for the week ended May 10 to the highest since September 2011. As BLoomberg writes, "oil producers are taking advantage of the rebound in crude markets to lock in protection against another slump." Energy companies from EOG Resources Corp. to Chesapeake Energy Corp. used financial instruments such as futures, swaps and collars to guard against another fall in prices. West Texas Intermediate oil, the benchmark U.S. crude, has gained more than 75 percent since hitting a 12-year low in mid-February.Is VIX Too Low Based On Fundamentals?
Submitted by Tyler Durden on 05/16/2016 - 15:15 In a word... "yes," VIX is too low based on the fundamentals underlying the economy, according to Goldman Sachs.
by Francesca Washtell, City A.M.:
Barclays has signed an agreement to sell its precious metals storage business in the UK to ICBC Standard Bank.
ICBC Standard Bank, which is a union of Chinese ICBC and the Standard Bank Group, will acquire the precious metals vaulting business for an undisclosed sum to expand its commodities capabilities in metals clearing and storage services.
The vault is one of the largest in Europe and is used to store gold, silver, platinum and palladium in support of the London Market.
Read More @ Cityam.com
Barclays has signed an agreement to sell its precious metals storage business in the UK to ICBC Standard Bank. ICBC Standard Bank, which is a union of Chinese ICBC and the Standard Bank Group, will acquire the precious metals vaulting business for an undisclosed sum to expand its commodities capabilities in metals clearing and storage services.
The vault is one of the largest in Europe and is used to store gold, silver, platinum and palladium in support of the London Market.
Read More @ Cityam.com
Viral Video Shows Nightmare TSA Line Stretching "For Miles"
Submitted by Tyler Durden on 05/16/2016 - 13:16 After questioning whether a self-imposed process to make airline check-ins more rigorous, knowingly increasing wait times, was a Federally-funded scheme to force travelers to enroll in pre-check programs, thus manipulating people into cooperating with authoritarian strategies; it seemed rather appropriate that the following video, which went viral, shows what is simply a stunningly long TSA line wait at Midway Airport.Stupid Sheep...
Students at Harrison Street Elementary school in Geneva, Illinois, will
no longer have to keep track of their lunch money. Geneva School
District 304 is putting in a new biometric scanner system that will read
students’ thumb prints at the lunch checkout line. Privacy experts warn
that this kind of system could turn unsuspecting students into
suspicious subjects, monitored by school administrators and tracked down
by local law enforcement.The biometric scanner, installed by a local company called PushCoin Inc., has the potential to speed up the lunch line, by forcing students to press their thumbprint into the system. One fifth grader from the district says, “It’s good, because you don’t have to carry your own money or anything like that. It’s just there. Your thumb is easy, because you just have to put your thumb on (the device),” Signs Of The Times reports.
Read More
from TRU News:
China condemned the U.S. Defense Department’s annual report on the
Chinese military on Sunday, calling it deliberate distortion that has
“severely damaged” mutual trust.
In its annual report to Congress on Chinese military activities, the U.S. Defense Department said on Friday that China is expected to add substantial military infrastructure, including communications and surveillance systems, to artificial islands in the South China Sea this year.
China’s Defense Ministry spokesman Yang Yujun expressed “strong dissatisfaction” and “firm opposition” to the Pentagon report and said it has “severely damaged mutual trust”, state news agency Xinhua reported.
The report “hyped up” China’s military threat and lack of transparency, “deliberately distorted” Chinese defense policies and “unfairly” depicted Chinese activities in the East and South China seas, Yang was quoted as saying.
“China follows a national defense policy that is defensive in nature,” Yang said, adding that the country’s military build-up and reforms are aimed at maintaining sovereignty, security and territorial integrity and guaranteeing China’s peaceful development.
Read More
China condemned the U.S. Defense Department’s annual report on the
Chinese military on Sunday, calling it deliberate distortion that has
“severely damaged” mutual trust.In its annual report to Congress on Chinese military activities, the U.S. Defense Department said on Friday that China is expected to add substantial military infrastructure, including communications and surveillance systems, to artificial islands in the South China Sea this year.
China’s Defense Ministry spokesman Yang Yujun expressed “strong dissatisfaction” and “firm opposition” to the Pentagon report and said it has “severely damaged mutual trust”, state news agency Xinhua reported.
The report “hyped up” China’s military threat and lack of transparency, “deliberately distorted” Chinese defense policies and “unfairly” depicted Chinese activities in the East and South China seas, Yang was quoted as saying.
“China follows a national defense policy that is defensive in nature,” Yang said, adding that the country’s military build-up and reforms are aimed at maintaining sovereignty, security and territorial integrity and guaranteeing China’s peaceful development.
Read More
by Dave Hodges, The Common Sense Show:
The UN plans to invade the US. This story is how they will attempt to use Chinese troops to accomplish this goal.
Synchronicity has struck The Common Sense Show. In 1993, I listened to the Art Bell Show for the very first time as I listened to Vance Davis, formerly of the NSA. His revelations regarding the current trends at the time in world affairs led me to believe he may have known about my father and his work with captured German Scientists. I could not speak openly at the time because my late father’s Navy’s pension, was the sole source of support for my mother, would have been forfeited if I have publicly revealed what my father told me before his death. But I did not have to, because, initially, Vance Davis did not contact me back. However, a man named Bill Pawelec did.
Read More
The UN plans to invade the US. This story is how they will attempt to use Chinese troops to accomplish this goal.Synchronicity has struck The Common Sense Show. In 1993, I listened to the Art Bell Show for the very first time as I listened to Vance Davis, formerly of the NSA. His revelations regarding the current trends at the time in world affairs led me to believe he may have known about my father and his work with captured German Scientists. I could not speak openly at the time because my late father’s Navy’s pension, was the sole source of support for my mother, would have been forfeited if I have publicly revealed what my father told me before his death. But I did not have to, because, initially, Vance Davis did not contact me back. However, a man named Bill Pawelec did.
Read More
Islamists Infiltrate The Swedish Government
Submitted by Tyler Durden on 05/16/2016 - 15:00 April was the month when the Islamist scandals in the Green Party (Miljöpartiet) came one after the other. The Green Party sits in Sweden's government, along with its coalition partner, the Social Democrats (Socialdemokraterna). They have made themselves known as a party favoring open borders, and with a passionate love for multiculturalism. These infatuations are precisely why the party has been a perfect candidate for Islamist infiltration. Within the Green Party, even to ask the question whether Muslims view Islam as a political force has been considered rude and "Islamophobic."
"We Should Be Concerned" - Stock Buybacks Plunge Most Since 2009
Submitted by Tyler Durden on 05/16/2016 - 14:43 After snapping up trillions of dollars of their own stock in a five-year shopping binge that dwarfed every other buyer, U.S. companies from Apple Inc. to IBM Corp. just put on the brakes. Announced repurchases dropped 38 percent to $244 billion in the last four months, the biggest decline since 2009, data compiled by Birinyi Associates and Bloomberg show. “If the only meaningful source of demand in the market is companies buying their own shares back, then what happens if that goes away?” asked Brad McMillan, CIO of Commonwealth “We should be concerned.”
Taiwanese Animators Ask "Who Wants To Die Attending The Rio Olympics?"
Submitted by Tyler Durden on 05/16/2016 - 14:16 Hot on the heels of Brazilian soccer star Rivaldo's warning to "stay home, your life is at risk," the Taiwanese Animators have created a 'Public Service Announcement' that Brazil should just cancel the 2016 Summer Olympics in Rio de Janeiro because no one really wants to die attending them.Bank Of America Reveals Nine "Reasons To Worry" About A Big Market Drop
Submitted by Tyler Durden on 05/16/2016 - 14:08
Dow Soars 200 Points Off Pre-Open Lows On No Volume
Submitted by Tyler Durden on 05/16/2016 - 14:07 Just because...
Curt Schilling Explains Why After Being Sacked From ESPN He Is Voting Trump
Submitted by Tyler Durden on 05/16/2016 - 13:41 Less than a month after being unceremoniously fired from ESPN for daring to share a meme about transgender issues on his personal Facebook page, Boston Red Sox legend Curt Schilling has put pen to pixelated paper slamming the "frauds in the liberal media," pointing out the folly of "college folks in love with Sanders," why Hillary is "lying her ass off," and why he will be voting for Donald Trump: Trust!
The Mystery Of Saudi Treasury Holdings Solved: US Reveals Saudi Holdings For The First Time
Submitted by Tyler Durden on 05/16/2016 - 13:05 One month ago, when the NYT reported that Saudi Arabia would liquidate as much as $750 billion in Trasurys should the US pursue legislation that could hold it liable for the September 11 bombings, many asked: does Saudi Arabia own that many Treasurys? We now have the answer courtesy of a Bloomberg FOIA submission to the US treasury, and our estimate of "far less" Saudi holdings was indeed accurate. As Bloomberg reports, "the stockpile of the world’s biggest oil exporter stood at $116.8 billion as of March."China's Largest Bank Is Quietly Cornering The Market For London Physical Gold
Submitted by Tyler Durden on 05/16/2016 - 12:58
Gold Plunges After "Someone" Suddenly Decides To Dump Over $2.3 Billion Notional In 10 Minutes
Submitted by Tyler Durden on 05/16/2016 - 12:35
by Harvey Organ, Harvey Organ Blog:
On Thursday I reported the following to you: “Expect another raid tomorrow!” And sure enough they blasted gold and silver twice:
i. During the access market, gold and silver were bombed but during the Asian /European time zone where physical dealings are prevalent, both of precious metals rose to levels at comex closing time.
ii) Then when comex opened for trading they bombed again knocking gold down to 1261.00 USA and silver to $16.88;
Again, gold and silver clawed back up to finish in positive territory. The bankers know they have a battle on their hands. Let us have a look at the data for Friday, May 13.
Read More
On Thursday I reported the following to you: “Expect another raid tomorrow!” And sure enough they blasted gold and silver twice:
i. During the access market, gold and silver were bombed but during the Asian /European time zone where physical dealings are prevalent, both of precious metals rose to levels at comex closing time.
ii) Then when comex opened for trading they bombed again knocking gold down to 1261.00 USA and silver to $16.88;
Again, gold and silver clawed back up to finish in positive territory. The bankers know they have a battle on their hands. Let us have a look at the data for Friday, May 13.
Read More
America's Borderline Personality Is "Dangerous To Itself & Others"
Submitted by Tyler Durden on 05/16/2016 - 12:15 It should be clear after some years of social justice hysteria in this country that coercion is now the method of choice on the Left side of the culture war battlefield: you must believe what we believe, or face punishment. You may have noticed that more and more we live in a society where anything goes and nothing matters. America has a boundary problem and boundary problems are disturbing both to individuals and societies.
Margaret Thatcher's 1988 "Bruges Speech" Explains Why Brits Should Brexit
Submitted by Tyler Durden on 05/16/2016 - 11:38 As establishment blowback strikes following over 300 European business leaders call for the British to vote to leave the EU, it is worth remembering Margaret Thatcher’s historic speech, known as the “The Bruges Speech” delivered September 20th, 1988, in which she famously rejected the centralised, unaccountable, federal Europe of Delors. Margaret Thatcher proposed instead a wider, decentralised, outward-looking democratic Europe of independent, freely- trading and cooperating nation states..
What Recovery? Poultry Workers Denied Bathroom Breaks, Wear Diapers On The Job
Submitted by Tyler Durden on 05/16/2016 - 11:22 “Workers struggle to cope with this denial of a basic human need. They urinate and defecate while standing on the line; they wear diapers to work; they restrict intake of liquids and fluids to dangerous degrees,”
by Eric Zuesse, Washington’s Blog:
When U.S. President Barack Obama perpetrated his coup d’etat in Ukraine in February 2014, and even had his agent Victoria Nuland select the person who was to rule Ukraine after the coup,
it was with the expectation that the new government would renegotiate,
and soon end, the Russian lease of the naval base at Sebastopol in
Crimea, which wasn’t due to expire until 2042. (Up until 1954, that base
had been in Russian territory because Crimea was part of Russia; but,
after the Soviet dictator Khrushchev in 1954 arbitrarily transferred
Crimea to Ukraine, and then the Soviet Union itself broke up in 1991,
Russia was keeping its navy there by paying a lease on it from Ukraine.)
Read More
When U.S. President Barack Obama perpetrated his coup d’etat in Ukraine in February 2014, and even had his agent Victoria Nuland select the person who was to rule Ukraine after the coup,
it was with the expectation that the new government would renegotiate,
and soon end, the Russian lease of the naval base at Sebastopol in
Crimea, which wasn’t due to expire until 2042. (Up until 1954, that base
had been in Russian territory because Crimea was part of Russia; but,
after the Soviet dictator Khrushchev in 1954 arbitrarily transferred
Crimea to Ukraine, and then the Soviet Union itself broke up in 1991,
Russia was keeping its navy there by paying a lease on it from Ukraine.)
Read More
by Steve St. Angelo, SRSRocco Report:
If the cumulative global silver deficit since 2004 of one billion
ounces wasn’t large enough, a data revision published by the Silver
Institute shows the actual figure was much higher. How much higher? A
great deal when the additional revised amount would totally wipe out all
the silver at the Comex and Shanghai Futures Exchange warehouses.
The Silver Institute receives its figures from the GFMS Team at Thomson Reuters. The GFMS Team also puts out the World Silver Surveys. Some of the data from the World Silver Surveys are published on the Silver Institute website.
Before I get into the details of this deficit revision, I want to discuss the notion put forth by many precious metals investors that “NONE” of the information from the Silver Institute should be trusted. These folks claim that “ALL” the data is manipulated.
Read More
If the cumulative global silver deficit since 2004 of one billion
ounces wasn’t large enough, a data revision published by the Silver
Institute shows the actual figure was much higher. How much higher? A
great deal when the additional revised amount would totally wipe out all
the silver at the Comex and Shanghai Futures Exchange warehouses.The Silver Institute receives its figures from the GFMS Team at Thomson Reuters. The GFMS Team also puts out the World Silver Surveys. Some of the data from the World Silver Surveys are published on the Silver Institute website.
Before I get into the details of this deficit revision, I want to discuss the notion put forth by many precious metals investors that “NONE” of the information from the Silver Institute should be trusted. These folks claim that “ALL” the data is manipulated.
Read More
by Wolf Richter, Wolf Street:
Inventory glut, lousy consumer demand, the global economy…
Freight shipments by truck and rail in the US fell 4.9% in April from the beaten-down levels of April 2015, according to the Cass Transportation Index, released on Friday. It was the worst April since 2010, which followed the worst March since 2010. In fact, shipment volume over the four months this year was the worst since 2010.
This is no longer statistical “noise” that can easily be brushed off.
The Cass Freight Index is based on “more than $26 billion” in annual freight transactions by “hundreds of large shippers,” regardless of mode of transportation, including by truck and rail. It does not cover bulk commodities, such as oil and coal and thus is not impacted by the collapsing oil and coal shipments. The index is focused on consumer packaged goods, food, automotive, chemical, OEM, heavy equipment, and retail.
Read More
Inventory glut, lousy consumer demand, the global economy…Freight shipments by truck and rail in the US fell 4.9% in April from the beaten-down levels of April 2015, according to the Cass Transportation Index, released on Friday. It was the worst April since 2010, which followed the worst March since 2010. In fact, shipment volume over the four months this year was the worst since 2010.
This is no longer statistical “noise” that can easily be brushed off.
The Cass Freight Index is based on “more than $26 billion” in annual freight transactions by “hundreds of large shippers,” regardless of mode of transportation, including by truck and rail. It does not cover bulk commodities, such as oil and coal and thus is not impacted by the collapsing oil and coal shipments. The index is focused on consumer packaged goods, food, automotive, chemical, OEM, heavy equipment, and retail.
Read More
by Dave Kranzler, Investment Research Dynamics:
“We are not counting on the consumer to spend more,” Chief Executive
Terry Lundgren said Wednesday. With saving rates high, wages growing and
employment data steady, Macy’s executives were at a loss to explain why
consumers weren’t spending in its stores. “We’re, frankly, scratching
our heads,” said Chief Financial Officer Karen Hoguet.
The facts to do not fit the assertions above. The savings rate in this country is not “high” and wages are not growing. The Government may be reporting a high savings rate and growing wages, but that’s merely a product of statistical fiction. Note in the graph to the Untitledright (click to enlarge) that rate growth in outstanding credit card/revolving credit is accelerating. This stands in direct refutation of the “high savings rate” narrative served up by the propagandists.
Read More
“We are not counting on the consumer to spend more,” Chief Executive
Terry Lundgren said Wednesday. With saving rates high, wages growing and
employment data steady, Macy’s executives were at a loss to explain why
consumers weren’t spending in its stores. “We’re, frankly, scratching
our heads,” said Chief Financial Officer Karen Hoguet.The facts to do not fit the assertions above. The savings rate in this country is not “high” and wages are not growing. The Government may be reporting a high savings rate and growing wages, but that’s merely a product of statistical fiction. Note in the graph to the Untitledright (click to enlarge) that rate growth in outstanding credit card/revolving credit is accelerating. This stands in direct refutation of the “high savings rate” narrative served up by the propagandists.
Read More
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