Thursday, December 8, 2016



Deutsche Bank Provides "Smoking Gun" Proof Of Massive Rigging And Fraud In The Silver Market

As part of the Deutsche Bank silver rigging settlement, the bank has provided "smoking gun" evidence and transcripts which show traders coordinating trades in advance of a daily phone call, manipulating the spot market for silver, conspiring to fix the spread on silver offered to customers and using illegal strategies to rig prices.

The Secret Meeting That Accelerated the War on Cash

by Nick Giambruno, Casey Research:
If you read yesterday’s Dispatch, you know the War on Cash is basically an effort to eliminate paper money. Politicians tell us this will make society safer.
Of course, we know this is pure propaganda. The War on Cash is really about control. You see, if the government gets rid of paper cash, all that money will be trapped inside the digital banking system. This will allow the government to track and tax our money at will.
Clearly, this is a serious threat to our wealth and personal privacy. Yet, almost no one takes the War on Cash seriously. Many people even see it as progress, since cash feels antiquated.
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Black American Confidence Collapses Post-Trump, Whites At 11-Month Highs

Despite an initial pop, it appears the Trump presidency has not been greeted by all Americans equally exuberantly as the stock market.

JPM's Quant Wizard Returns To The Dark Side, Warns Of Coming "Market Turmoil"

"Withdrawal of monetary accommodation would also accentuate the problem of a strong USD, uncover geopolitical complacency, and remove the lid from market volatility. In fact, our view is that further withdrawal of monetary accommodation would likely lead to turmoil in financial markets."

75 Years After Pearl Harbor, We Now Know the Govt Knew the Attack Was Coming

from The Free Thought Project:
On the morning of December 7, 1941, Japanese planes, launched from aircraft carriers, attacked the American fleet at Pearl Harbor in Hawaii, sinking or heavily damaging 18 ships (including eight battleships), destroying 188 planes, and leaving over 2,000 servicemen killed.
The next day, President Franklin D. Roosevelt denounced this “day of infamy” before Congress, from whom he secured an avid declaration of war.
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Populism In America: "Follow The Money"

If you want to understand today's populism, don't look to the mainstream media's comically buffoonish propaganda blaming the Russians: look at the four issues listed below...

Trump To Name CEO Of Fast Food Restaurants As Labor Secretary

Donald Trump is set to name fast-food executive Andy Puzder as labor secretary. Puzder is the chief executive of CKE Restaurants Holdings, the parent company of the Carl’s Jr. and Hardee’s burger chains.

The Elite Are Desperate, ‘Operation Censorship’ Is In Full Swing

from X22Report:

German Companies Pull Ads From Breitbart

German carmaker BMW, the restaurant chain Vapiano, supermarket chain Rewe, and Deutsche Telekom have all pulled their ads from Breitbart site due to concerns about the website's content: "The positions held by contrast with Vapiano's values, such as openness and tolerance," said the restaurant chain.

Portland "Orecrats" Target Income Inequality: Pass Massive 25% Tax On Corps With "Excessive CEO Pay"

Liberals in the city of Portland Oregon have put their foot down against income inequality. The “Orecrats” are not going after CEOs, but rather corporations that have CEO salaries the “Orecrats” deem excessive. The tax penalty on corporations is as much as 25%.

Washington Post Appends "Russian Propaganda Fake News" Story, Admits It May Be Fake

"The Post does not itself vouch for the validity of PropOrNot’s findings regarding any individual media outlet, nor did the article purport to do so. Since publication of The Post’s story, PropOrNot has removed some sites from its list."

Leonardo DiCaprio Meets With Trump To Discuss Creation Of "Millions Of Green Jobs"

It was unclear if DiCaprio flew in and out of his meeting with Trump to discuss making the environment great again, on his private jet.

Trump Blasts Steelworkers Union Boss: "Spend More Time Working-Less Time Talking. Reduce Dues"

Powerful 6.8 Magnitude Quake Strikes Off The Coast Of Northern California

A strong 6.8 magnitude quake has struck of the coast of California, some 165km west of Ferndale, CA. The quake was not near the San Andreas fault however according to USGS data, it took place on top of the Gorda Estrapment divide.

Something's Wrong

Yesterday, as we noted, saw VIX and stocks rise together (an unusual event). Today that trend is even more pronounced and the market action is very 'odd' post-ECB. Lot of chatter on huge option gamma forcing market-makers to chase moves...

ECB Introduces Cash Collateral To Resolve Shortage Of Eligible Eurosystem Collateral

Moments after Draghi's presser, the ECB addressed the issue of the Eurosystem's persistent collateral shortage issue when it introduced the use of cash as acceptable collateral, a step which will alleviate the incipient collateral shortage of eligible collateral in the Eurozone.

Art Cashin Explains Yesterday's Furious Rally

"Just before the buy programs kicked in, the rally in the Dow Transports was shifting up a gear as the index was on the verge of punching through to a new record high. If the Transports made a new record high, it would confirm the record high in the Industrials, thus giving a Dow Theory buy signal. As that realization spread, the algorithms kicked in with buy program after buy program and the race was on."

The Globalization Genie's Long Left The Bottle

Empty labels, fake news and oceans of debt keep the systems - somewhat - going for now. But the genie’s long left the bottle. The ‘incumbents’ have failed their people for far too long, most of all economically. And they keep on claiming that everything will be alright, everyone will be better off if only we execute more globalization, and give them all a few pennies more.

European Yield Curve Surges To Steepest In 29 Months After ECB Eases QE Rules

After stating that The ECB will relax the previous QE parameters, allowing it to buy bonds with yields below the deposit floor, 5Y German yields have dropped below -40bps. The entire European bond yield curve has steepened dramatically (German 2s10s +12bps to steepest since July 2014).

Wall Street Responds To Mario Draghi's "Big Shock"

The European Central Bank’s decision to taper bond purchases is a shot in the arm for the euro, analysts say, and as Bloomberg reports, while policy makers say they may still expand the size or duration of quantitative easing, investors may be inclined to be skeptical.

Mario Draghi Explains His Dovish Taper (Hawkish Easing) - ECB Press Conference Live Feed

In a surprise for markets, Mario Draghi gave (extended QE) and took away (tapered purchases) the punchbowl in what we are sure will be described as 'significant additional easing' even though bond traders are clearly disappointed. Having had 45 minutes to judge the market's reaction (steeper curves, lower EUR, higher bank stocks), we wonder what tape-bomb he will drop during the Q&A to spoil the party.

Stocks And Volatility Indices Both Jump - Who's Right?

Yesterday saw the VIX solidly higher despite the fact that stocks rallied hard; what do similar precedents tell us?

European Bond Yields Spike, Bank Stocks Soar, EUR Tumbles After Draghi Surprise

Having rallied into today's ECB meeting on hopes of geting more "whatever it takes" from Mario Draghi, his surprising tilt to the hawkish taper has sparked selling across European bond markets (pushing Bund yields to 11-month highs). EURUSD kneejerked higher on the statement but faded back quickly. Yield curves across Europe are also steepening dramatically and bank stocks are loving it.

ECB Stuns Markets, Announces Tapering Of Bond Purchases To €60 Billion

"From April 2017, the net asset purchases are intended to continue at a monthly pace of €60 billion until the end of December 2017, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim."

Draghi’s Risk Is He Speaks And No One Listens

There are going to be two outcomes today stemming from the ECB meeting. We’ll learn what President Draghi has to say. And then what the market wants to hear. Not in terms of expectations, a la analyst previews, versus actual comments. But how portfolio managers choose to interpret his answers, no matter what he says. And it makes his task all the more tricky.

Dismal Jobs Report — Paul Craig Roberts

by Paul Craig Roberts, Paul Craig Roberts:
The presstitute media delivered the false news, not from Russian propaganda websites such as the Washington Post accuses this one of being, but from Obama’s US Bureau of Labor Statistics. The false news is that the collapsing economy continues to boom with 178,000 new jobs in November and a further fall in the rate of unemployment to 4.6%.
What are the facts? Nothing you will ever hear from the presstitutes or the corrupt Obama regime.
The facts are that November produced only 9,000 full time jobs, an improvement over the previous month when full time employment declined by 103,000 jobs—another fact that you did not hear about from the presstitutes.
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WOW! CNN Brings On Carrier Employee to Bash Trump for Saving Jobs (VIDEO)

by Jim Hoft, The Gateway Pundit:
CNN scoured the Carrier manufacturing plant in Indiana to find the one disgruntled employee to come on and bitch about Trump.
They brought on the local union spokesman to complain about Trump saving their jobs.
TJ Bray, the Media Communications Representative for the local union, United Steel Workers Local 1999/Carrier Unit, went on CNN to bitch about the deal.
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Drink Golden Milk Before Bed To Cleanse Your Liver While You Sleep

by Twain Yobra, Natural News:
f you want to sleep better and flush toxins out of your body, then this is the most important article you’ve ever read. I will show you how ‘golden milk,’ a mixture of coconut milk, turmeric, ginger and black pepper can improve your health.
This delicious mixture will help you sleep like a baby since it’ll calm you down and reduce stress. It’ll also detoxify all your organs, leaving you healthier, slimmer and energetic.
Benefits of drinking golden milk
The main ingredient in this drink (turmeric) has many proven benefits. Thousands of studies show that turmeric fights inflammation, arthritis, cancer, diabetes, obesity, chronic diseases, stroke, and so on.
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How ISIS is Repaying its Masters

by Martin Berger, New Eastern Outlook:
At this point there’s no denying the fact that Saudi Arabia and Qatar has been sponsoring and supporting ISIS. As early as 2014, WikiLeaks released an e-mail from Hillary Clinton to John Podesta, who then occupied the position of her campaign chairman, stating that the governments of Saudi Arabia and Qatar have been “providing clandestine financial and logistic support to ISIS and other radical Sunni groups in the region.” What is truly remarkable is that the email says is not mentioning some sheiks, instead it refers to the governments of Saudi Arabia and Qatar.
These funds are received by the terrorist organizations that commit all sorts of despicable crimes against the people of Syria and Iraqi. At the same time they are profiting from robbing these people by destroying historical monuments, looting historical artifacts and smuggling the ancient antiques they’ve stolen to the Persian Gulf or Turkey so they can later be sold at black markets in Europe. Thereby, those are buying these relics are effectively providing support to ISIS as well. As it has recently been noted by The Guardian, Swiss authorities have recently seized cultural relics looted from Syria’s ancient city of Palmyra, as well as from Libya and Yemen, which were being stored in Geneva’s free ports.
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Cracks in the Bond Market – JIM WILLIE

by Jim Willie, Gold Seek:

Foreign USTreasury Bond dumping continues, and even accelerates. China and the Saudis are selling USTreasurys in a near panic. Foreign central banks liquidated a record $375 billion in USGovt debt in the last 12 months. An American disaster lies in the making from debt saturation, debt overload, and debt dumping. It is all denied by the Washington mouthpieces and the Wall Street handlers, as they lie. The USGovt debt default is within view, dead ahead.
One month ago in October tally, the USFed update of Treasurys held in custody revealed a frightening picture of foreign sales, big sales, even accelerated sales. The total amount of custodial paper had fallen to $2.805 trillion, the lowest since 2012. One month later, foreign central banks continued their relentless liquidation of US debt paper, as measured by the same custody account. Foreign central banks, sovereign wealth funds, reserve managers, and virtually every other official institution in possession of US debt paper, are liquidating their holdings at a frantic pace. They respond to domestic pressures with deficits to finance. They respond to the US fundamental situation, which resembles a Third World nation on a debt basis more so with each passing month. The next fiscal year for the USGovt is actually incredibly astonishingly on pace to surpass the $2.0 trillion mark in the deficit. Obama goes out with a bang, with accolades and applause from his fawning fascist fold. His dimwitted dowdy devoted followers even cheer the rising ObamaCare premiums, which they fail to comprehend as rising costs.
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India Confiscates Gold, Even Jewelry, In Raids On Hidden Money

by Mish Shedlock, via ZeroHedge:
Global financial repression picks up steam, led by India. After declaring large denomination notes illegal, India now targets gold.
It’s not just gold bars or bullion. The government has raided houses, no questions asked, confiscating jewelry.
For background to this article, please see my November 27 article Cash Chaos in India, 86% of Money in Circulation Withdrawn; Cash Still King in Japan.
Large denomination means 500-rupee ($7.30) and 1,000-rupee notes ($14.60), which account for more than 85 percent of the money supply. They are no longer legal tender, effective immediately.
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Party Like It’s 1999: The Stock Market Is A Propaganda Tool

by Dave Kranzler, Investment Research Dynamics:
The degree and level of propaganda now flowing from the Establishment and the Establishment-controlled mainstream media is on par with that of the old Soviet Politburo or German Third Reich. In fact, I’d confidently propose that this point is incontestable.
With modern technology and regulations which have made Fed operations and accountability tragically opaque, I have zero doubt that the Fed and the Government have managed to turn the stock market into another propaganda tool. Studies have shown that, over the short term, the direction of the stock market and consumer sentiment measures are highly correlated.
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