The Coming Economic Collapse, Currency Induced Cost Push Inflation/Hyperinflation, Weimar Germany, Euro Collapse,
Zimbabwe Hyperinflation, Survival in Economic Collapse, World Economic Collapse, Dollar Collapse,
What Would Happen If the Economy Collapsed,The Coming Economic Depression.
Gold and Silver Will Protect Your Wealth.
"If the FBI really wanted them they can go into that database
and get them right now,” William Binney said of Clinton’s emails as well
as DNC emails. Asked point blank if he believed the NSA has copies of
“all” of Clinton’s emails, including the deleted correspondence, Binney
confirmed. “Yes. That would be my point. They have them all and the FBI can get them right there.”
The indispensable nation’s military hegemony over the whole South China Sea must always be undisputed. Always. But already it is not. China is positioning itself as a cunning, asymmetrical aspirant to “peer competitor”. For the moment Beijing ranks second in the Pentagon’s list of “existential threats”
to the US. Were not for Russia’s formidable nuclear power, China would
already be number one. At the same time China does not need to launch
any military offensive against an ASEAN member; it’s bad for business. But
make no mistake; at some point in the future, there will be a serious
confrontation between the US and China over “access" to the South China
Sea.
In a miracle of modern goal-seeking, China's Manufacturing PMI
clung to within an inch of 'stable' 50 level for the 20th month
(actually missing expectations of 50.0, printing 49.9) But while manufacturing is its lowest since Feb, the non-manufacturing PMI jumped to 53.9 - its highest since Dec 15.
Following the notable USD weakness on Friday (thanks to BoJ
disappointment), and the apparent recovery of the Chinese economy (just
need another trillion or two of credit to keep the dream alive), PBOC strengthened the Yuan fix by 0.35% - the most since mid-June... extending the 9-day gain to the most since Sept 2010.
Shocked by the inexplicable realization that Americans are
stubbornly unwilling to bow down and blindly accept the political and
economic views of the educated elites in this country, Harvard Professor
Gregory Mankiw recently took to the New York Times to pen an oped where
he concluded that the only possible reason for the lack of conformity to his point of view is the stupidity and racism of the electorate.
In 2010, Social Security (OASDI) unofficially went bankrupt. For the first time since the enactment of the SS amendments of 1983, annual outlays for the program exceeded receipts
(excluding interest credited to the trust funds). The deficit has
grown every year since 2010 and is now up to 8% annually and is
projected to be 31% in 2026 and 44% by '46. The impact of the collapse
of the growth among the working age population and swelling elderly
population is plain to see. And it will get far worse before it eventually gets better.
"Clinton Cash" author, Peter Schweizer, recently took to the
airwaves to explain why the IRS investigation of the Clinton Foundation
should be a "Big Deal" and why the State of Kuwait, Dubai Foundation,
Friends of Saudi Arabia, United Arab Emirates, The Government of Brunei
Darussalam and The Sultanate of Oman are all contributors...must be the
programs advocating for full and equal "participation of girls and women
in the 21st century"...but that's just our guess.
For those who believe that Goldman is just another incarnation
of Dennis Gartman and are still bearish, you may want to close out any
remaining short positions because moments ago, Goldman just released a
new report in which the firm has gone outright bearish, with a "tactical downgrade to equities for the next 3 months."
The Democratic Party that once was concerned with workers’
rights, the elderly, civil rights, and the constitutional protections
of America liberty no longer exists. As the just
completed Democratic presidential primaries and the Democratic
presidential convention have clearly demonstrated, the United States now has two Republican parties in service to the One-Percent.
As if things were not bad enough in Rio, The Herald Sun reports that an explosion has rocked the Olympic stadium in Rio after Brazilian police discovered a suspicious device today.
From the "over-expansion of credit" leading to banking failures
in 1255-62 in Italy to 2015's "'end' of The Fed's zero interest rate
policy," stock markets have risen and fallen and risen some more on the
back of wars, manias, crises, and panics since The Middle Ages....
"...abandoning the low interest rate policy would
likely trigger a severe recession... but, continuing this policy would
distort and corrode the economic structure even more, which
would jeopardize the business model of pension funds, insurers and
banks, and further inflate the real estate and stock market bubbles. The
low interest rate policy has rendered the system profoundly fragile, with central banks virtually in a lose-lose situation."
The Saudi circular ref (low oil prices -> budget deficits -> more oil pumping -> even lower oil prices) continues to iterate toward it's ultimate conclusion which (spoiler alert) will not be pleasant... and the banking system bailouts have only just begun.
Over the next year, the BoJ is scheduled to purchase ¥6t ($58b)
in ETFs, and $116b over the next two years. By June of 2018, BoJ is
likely to hold ¥20.5t ($200b) in ETFs. Putting this in context, this
new stimulus can be viewed as equivalent of the Fed purchasing $580
billion in ETFs over the next two years, and the Fed holding $1 trillion
in ETFs.
Over the past month the offensive for Syria's second largest
city, has shaped up as one of the most important conflicts in the three
year-old Syrian civil war. The aim of the offensive, which was preceded
by a surge in Russian air strike, is to cut the last rebel supply line
into Aleppo city. However, with Assad's armies advancing on the besieged
city, surprising reinforcements for rebel forces emerged when earlier
today Al-Nusra's Jihadist forces, attacked regime forces southwest of
Aleppo in a new battle the remove the siege.
It seems like you can’t watch the news anymore without stumbling onto a story that contains terrifying global implications. Not since the Cold War have tensions been so high among the nations of the world. You can strike sparks just about anywhere. The threat of another global war is downright palpable.
"Hillary Clinton should be held accountable for her central role in destabilizing the Middle East.
She voted to send the United States to war against Iraq, helped lead
the disastrous withdrawal of American troops years later that created
the vacuum allowing the rise of ISIS, and has never met a regime change
she didn’t like (which have all been disasters) – not to mention her
invasion of Libya and her abandonment of American personnel in
Benghazi."
The bigger picture narrative, according to BofAML's Michael
Hartnett, is that the policy baton is passing from Monetary to Fiscal
stimulus in 2016/17. Simply put, central bank rate cuts are ending; and
new policies to address the populist desire for a "War on Inequality" are emerging. This 'fiscal flip' - as Hartnett describes it - means rotation from 'deflation' to 'inflation' assets... from 'financial' to 'real' assets.
"Donald Trump’s overwhelming virtue is that he is not Hillary Clinton
and does not carry a bulging 30-year old bag of bad ideas. Hillary’s
ideas—–and those of the establishment for which she shills——about how to
fix the coming economic and foreign policy crises, in fact, are so unequivocally and irremediably bad that it is not possible that there is anything worse."
And so history goes back to square 1: a terrorist act, directly
inspired by the politicians' own actions, promptly followed by a
crackdown on civil liberties enjoyed by all. Almost as if it was
planned that way...
Fridays in the summer are a great day to dump news you don’t want scrutinized, as reporters will tell you. Chicago Mayor Rahm Emanuel just dropped some propaganda, bragging about balancing the Chicago budget and fixing the city’s pension plans. While Reuters' Dave McKinney took the lies hook, line, and sinker; the facts behind the lies can be summarized thus: "the kicked can is not included."
HILLARY CLINTON MEMES, CARTOONS AND FUNNY VIDEOS by James Perloff, Jamesperloff.com: It has been my personal belief for some time that the oligarchy that runs America
has opted for Hillary Clinton as the next U.S. President. One clue to
this was, after her stint as Secretary of State (which gave her an
important “foreign policy expertise” credential), CBS began running the
series Madam Secretary, which was clearly designed to portray
her in a flattering light on a weekly basis. Another hint was Hillary’s
previous term as U.S. Senator representing New York (giving her an
important “can work with Congress” credential). Prior to that, Hillary
had never been a New York resident, but that state has long been used as
a launching pad for Presidential candidates.
Though they have some “acceptable” qualities, Sanders is too
anti-banker to suit the Rothschilds, and Trump is too pro-2nd Amendment
and anti-immigration. Shillary—er, I mean Hillary—is the only viable
candidate who fits the Establishment agenda 100 percent: pro-gun
control, pro-Israel, pro-“War on Terror,” pro-Federal Reserve, pro-GMO,
pro-mass immigration, pro-population control, pro-Internet censorship,
and according to some analyses she’s receiving more contributions from Wall Street than any other candidate. Read More
by Shawn Helton, 21st Century Wire:
t was a tough week for the Clinton ‘change makers’ as Bernie Sanders delegates staged a mass walkout after a series of email leaks disclosed that a Clinton lawyer gave the DNC strategy adviceon how to sideline the Sanders campaign.
There were also claims of white noise machines used to quell any anti-Clinton dissent inside the Wells Fargo Center in Philadelphia. ‘Help Wanted: Actors Needed’ – Putting aside the fact that today’s US presidential conventions have turned into celebrity show business promotional events (pop star Katie Perry, Ted Danson, and even British actor Orlando Bloom et all), there’s another more disturbing controversy emerging – this time over a Craigslist adstating that, “actors were needed for a national convention” – prompting critics to suggest empty seats had to be filled prior to the end of the convention and that the July 27th ad was at the behest of the DNC. Read More
"We know that Russian intelligence services hacked into
the DNC and we know that they arranged for a lot of those emails to be
released and we know that Donald Trump has shown a very troubling willingness to back up Putin, to support Putin."
Records
indicate Foster didn’t really die from one .38 caliber gunshot… but two
gunshots! The other shot was on the right side of his neck, made by a
“Small caliber” bullet hole. from The Political Insider:
Twenty-three years ago during the Clinton administration, Deputy White
House Council Vincent Foster was found dead in his car. This scandal
shocked the country, and raised massive questions about just how
dangerous the Clintons are.
Foster’s apparent suicide was quite suspicious. Two investigators –
Robert Fiske and Kenneth Starr – separately concluded that Foster shot
himself and died, due to suicide.
But over time, major questions have been raised about what may have really killed him. Now, recently discovered evidence blows the case wide open! Read More
from CrushTheStreet:
Harry is back to reiterate his call for massive deflation and stock
market crash. This is what he’s been saying for years despite the slow
progression and often opposite appearing reality (stock market &
gold rallying). The long-term trends make sense that we’re overdue for
another great depression but it’s really up to the world financial
system whether it holds together or crashes and when is up in the air.
from Rogue Money:
For every action by a weakening hegemon trying to hang on to the
illusion of ‘full spectrum dominance’, there is an equal and opposite
set of reactions. Jeff J. Brown, a Francophone American expat living in
Shenzhen from Oklahoma, has taken note of the upgrading in Chinese state
media from describing Beijing’s relationship with Moscow as a “close
partnership” to “semi-alliance”.
Up till now, both Russian and China have eschewed the concept of an
“alliance”. Why? Because of all the historical Western empire baggage
that goes with it, including sometimes secret, frequently broken
treaties, treachery, double dealing, back stabbing and all the other
perfidy that goes with it. Not to mention, potentially unenforceable or
unwise commitments to militarily attack an enemy of an ally, regardless
of how stupid or absurd it is. Just recall the insanity of World War I,
to put things in perspective. Read More
Officials have said that at least four people in Florida have contracted the Zika virus
and warn that the virus now appears to be spreading domestically either
through contact with mosquitoes or direct human-to-human transmission.
In an alarming development, according to CNN, federal,
state and local officials have been deployed to canvas neighborhoods in
Florida. The stated purpose is to ask questions, request urine samples and determine the spread of the virus...What if a resident does not comply?
"The rise of populism in America is a byproduct of
inflationary policies that have helped trigger a dramatic increase in
consumer debt, declining real wages and rising prices for food and
housing since 1999."
In a first of its kind jump, a daredevil skydiver on Saturday
became the first to jump from a height of 25,000 feet (7,620 meters)
without a parachute, landing in a net in southern California. Luke
Aikens, 42, who has 18,000 jumps under his belt, completed the jump in
Simi Valley, landing in a net measuring 100 feet by 100 feet.
All roads in and out of NATO's critical Incirlik Air Base
located in Adana have been closed as Turkish Minister of European
Affairs cautions that it is just a "safety inspection" while local
newspapers speculate that a second coup attempt may be underway.
According to Hurriyet, 7000 armed forces with heavy vehicles have
surrounded and blocked off the airbase.
"Rising powers including for example, China, Russia, India, Iran, or Brazil have increasingly expressed dissatisfaction with their roles, access, and authorities within the current international system... The future world order will see a number of states with the political will, economic capacity, and military capabilities to compel change at the expense of others..."
by Doug Casey, International Man:
On June 23, the UK had a referendum in which 52% of voters opted to
leave the European Union. I applaud Britain for leaving the corrupt,
costly, and dysfunctional EU. It may be the best thing that’s happened
to Europe since the end of World War 2. And, I think, it signals the
start of some major new trends.
In principle, the idea of the European Union sounded good. All the
signatory countries joined a customs union so goods and people could
flow freely.
The idea was to both increase general prosperity and decrease the
chances of another war. It sounds very libertarian—in principle. But in
practice it turned out very differently. And may wind up doing the
opposite of its intended purpose. Read More
by Michael Snyder, End Of The American Dream:
To quote Hillary Clinton, what a remarkable week it has been at the
Democratic National Convention. Supporters of Bernie Sanders almost
rioted several times, most protesters were kept in a “free speech cage” well away from the convention, a handful of delegates decided that it would be a good idea to hoist a Palestinian flag on the floor of the convention on Monday, and there were rumors that there was so little enthusiasm that seat fillers were being hired
for Hillary Clinton’s big speech on Thursday night. But there was some
extra excitement on Thursday afternoon when vicious lightning storms
forced those working in media tents just outside the Wells Fargo Center
to evacuate. The following comes from CBS News… Read More
Title should say...17,359 productive citizens (the opposite of the free shit army)get tired of getting screwed out of their life savings...finally give up...
by Simon Black, Sovereign Man:
Another 508 people renounced their US citizenship last quarter
according to documents published this morning by the Internal Revenue
Service.
This brings the total number of US ‘renunciants’ under the Obama administration to 17,359.
It’s a pretty sad state of affairs when a government’s tax policy is
so oppressive that it drives people to permanently divorce themselves
from their country.
Now, it’s easy to dismiss these people as traitors and cowards, and to say “good riddance, we didn’t want you anyhow.”
But consider that many of these renunciants are what I call ‘accidental Americans’. Read More
by Dave Kranzler, Investment Research Dynamics:
The mainstream financial media headlines reporting Amazon’s Q2 earnings
release were shamelessly pathetic: “Amazon crushes Street forecast,”
“Amazon beats again in Q2 thanks to cloud services.” It was beyond
nauseating. The entire spectacle reminds me of the tech bubble, when
companies like Cisco, Sun Microsystems and Intel would intentionally
“guide” Street analysts into publishing a low consensus forecast the
CFOs knew could easily be topped with accounting gimmicks.
Bezos applies all the traditional accounting gimmicks plus he’s
created his own, specifically with regard to his definition of “free
cash flow.”
I don’t want to spend a lot of time on this. I’ve wasted most of my
evening untangling AMZN’s numbers as reported in its 8-K filing. Let’s
just say that if you dissect AMZN into its “product” and “AWS”
components, the results are underwhelming.
Nothwithstanding the fact that AMZN intentionally guides the Street
to low-ball estimates ahead of its quarterly earnings report, as you can
see from the graphic below, which I created by dissecting and
rearranging the sales and operating income numbers from AMZN’s 8-K filed
today, AMZN’s growth numbers are underwhelming Read More
by Andy Hoffman, Miles Franklin:
As if Hillary didn’t have enough “going for her” – assuming her goal is
the biggest landslide defeat in U.S. history – the Democratic Party
just admitted its server was hacked, setting the stage for additional
“smoking gun” revelations. Worse yet, a list of (likely, just a small
part of) her planned tax hikes
is now public, of roughly $1 trillion over 10 years. Including a huge
increase in income taxes; a “fairness tax” on the rich; and a big
increase in the death tax. And that doesn’t even include her Bernie
Sanders-like desire for free college tuition (FYI, Sanders quit the
Democratic Party on Wednesday); which, if legislated, could cost as much
as Obamacare.
And did I mention that the Social Security Administration just
admitted it is bankrupt – “coincidentally,” simultaneous with the
introduction of a Congressional bill titled, I kid you not, “SAVE UP,”
to “bail-in” Social Security with higher taxes? In other words, as
I’ve been screaming from the rooftops for years, particularly as we are
in the early stages of what will be the worst economic downturn since
the Great Depression (with much more debt, and an imploding currency to
boot), it won’t be long before we become the Socialist States of America
– with European-style tax rates that will destroy the vast majority of
your savings. Which is why the urgency to cash out IRAs; and get out of
the system – or “GOTS, as Jim Sinclair calls it; has never been more
powerful. Read More
from Only Prices Matter: The last time we discussed gold on the site was a few weeks back in this post;
therein we suggested a break-down in USDZAR was at hand and that should
history hold, it would help propel and/or coincide with additional
upside in the metal.
However, the above was merely a tactical, nearer-term call.
Strategically, it’s been even longer since we updated our longer-term
framework for gold. In fact, it’s been three months since we did that
in this post.
In that May piece we suggested the metal continued to track favorably
vs. our bullish expectations, but in the near-term it faced a major test
having rallied nearly +25% off its Dec-15 low, a historical demarcation
point whereby cyclical retracement rallies were either snuffed out with
a resumption of a secular bear beginning afresh, or, the same moves continued higher, indicative of a new secular bull being underway. Read More
by Mike Ox, SHTFPlan:
Ox here with 4 myths about firearms accuracy that bad guys believe and you shouldn’t MYTH 1. You can’t shoot accurately with a (fill in the blank) pistol.
Normally, I hear this argument about subcompacts, pistols/revolvers
with long heavy triggers, or pistols that have a long double action for
the first round and a single action thereafter.
The fact is that all of these make firing fast and accurate groups
more difficult, but it shouldn’t be an excuse for poor performance.
If you have a sub-compact pistol or revolver that shoots large
groups, I challenge you to put it in a gun vice, shoot a few rounds with
it at 10-15 feet, and see just how precise and accurate it really is. Read More…
"My doctors were very clear on this: Unplug before life pulls the plug on you. And I’m listening. ... But perhaps this is the larger message: It’s time to focus on real life not cyber life.
And after all, how many years of one’s life can/should one spend day in
and day out on cyberspace? Adios Twitter, it’s been real. I’m
unplugging..."
"Rising powers including for example, China, Russia, India, Iran, or Brazil have increasingly expressed dissatisfaction with their roles, access, and authorities within the current international system... The future world order will see a number of states with the political will, economic capacity, and military capabilities to compel change at the expense of others..."
All roads in and out of NATO's critical Incirlik Air Base
located in Adana have been closed as Turkish Minister of European
Affairs cautions that it is just a "safety inspection" while local
newspapers speculate that a second coup attempt may be underway.
According to Hurriyet, 7000 armed forces with heavy vehicles have
surrounded and blocked off the airbase.
While overall police deaths have gone down (but through all
means, including common causes such as simple working accidents or
vehicle crashes), we see that for the specific case of
cold-blooded shooting of police to death, so far in 2016 this has gone
up by about 60%, versus the YTD levels in previous years. And while in recent years about 55% of these murders were done by Blacks (who represent 13% of the U.S. population), in 2016 this surged to a goliath three-quarters of police murdered by Blacks throughout 2016.
One month on from the referendum, there is no sign of the Treasury’s $4300-loss VAR model predictions coming to fruition.
London is teeming with people, many of them foreign visitors, spending
money in cafes, restaurants, theatres and other visitor attractions.
The country roads are still jammed with caravans, tractors, tourists
and white vans trying in all their productive mayhem to go about their
business. Wimpish businessmen dithering over trade and investment plans are being forced to get on with life... and our long-abandoned trade friends in the Commonwealth are keen to talk to us, as is China. And who can forget President Obama’s threat when it came to negotiating T-TIP with the EU? Well, we are no longer at the back of the queue, but at the front of the line.
In a shocking example of the fallout from low oil prices coupled with years of easy-money-enabled malinvestment, the collapse of Canada's non-conventional oil production has forced a northern Alberta oil-boom-town to be put up for auction, including 1200 person accomodation work-camp, hospital, gym, running track, and waste-water treatment plant.
In continued defiance of the Democrat narrative calling for stricter gun laws, Chicago's homicide problem just keeps getting worse despite gun laws that are already among the most restrictive in the country.
The 6th Fundamental Principle of Olympism (non-discrimination of any kind, including nationality and political opinion)
seems to be forgotten long ago. In ancient Greece the competition of
best athletes was able to halt a war and serve as a bridge of
understanding between two recent foes. But in the twentieth century the Olympics have become a political weapon.
"Our analysis...seems to support the thesis that while lending is extending to riskier consumers, the finances of those consumers are not materially improving. The recipe is likely to result in consumer delinquencies that will not fall in coming quarters, consistent with our broader thesis that the credit cycle is in the later innings."
Because the main street economy is failing, the nation’s entitlement rolls have exploded. About 110 million citizens now receive some form of means tested benefits. When social security is included, more than 160 million citizens get checks from Washington. The total cost is now $3 trillion per year and rising rapidly. America’s entitlements sector, in fact, is the sixth biggest economy in the world.
It has been my personal belief for some time that 
Twenty-three years ago during the Clinton administration, Deputy White
House Council Vincent Foster was found dead in his car. This scandal
shocked the country, and raised massive questions about just how
dangerous the Clintons are.
For every action by a weakening hegemon trying to hang on to the
illusion of ‘full spectrum dominance’, there is an equal and opposite
set of reactions. Jeff J. Brown, a Francophone American expat living in
Shenzhen from Oklahoma, has taken note of the upgrading in Chinese state
media from describing Beijing’s relationship with Moscow as a “close
partnership” to “semi-alliance”.
On June 23, the UK had a referendum in which 52% of voters opted to
leave the European Union. I applaud Britain for leaving the corrupt,
costly, and dysfunctional EU. It may be the best thing that’s happened
to Europe since the end of World War 2. And, I think, it signals the
start of some major new trends.
To quote Hillary Clinton, what a remarkable week it has been at the
Democratic National Convention. Supporters of Bernie Sanders almost
rioted several times, most protesters were kept in a “
Another 508 people renounced their US citizenship last quarter
according to documents published this morning by the Internal Revenue
Service.
The mainstream financial media headlines reporting Amazon’s Q2 earnings
release were shamelessly pathetic: “Amazon crushes Street forecast,”
“Amazon beats again in Q2 thanks to cloud services.” It was beyond
nauseating. The entire spectacle reminds me of the tech bubble, when
companies like Cisco, Sun Microsystems and Intel would intentionally
“guide” Street analysts into publishing a low consensus forecast the
CFOs knew could easily be topped with accounting gimmicks.
As if Hillary didn’t have enough “going for her” – assuming her goal is
the biggest landslide defeat in U.S. history – the Democratic Party
just admitted its server was hacked, setting the stage for additional
“smoking gun” revelations. Worse yet, a list of (likely, just a small
part of) her 
The last time we discussed gold on the site was a few weeks back in 
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
