Goldman Changes Fed Forecast: Sees Rate Hikes In March, June And September; Earlier Balance Sheet Reduction
Ever since governments began banning and licensing different parts of the economy, the black market has made sure people still have access to the things they need. Unstable governments always turn on their own citizens by using price controls, heavy taxes, and even the threat of imprisonment to prop up their failing systems. As conditions inevitably deteriorate, as they have in Venezuela and Greece, the underground economy becomes invaluable to those living through the crisis.
The shadow economy refers to more than just the trade of illegal goods. A grey market, for example, provides legal products that have become difficult to find. Since basic things like toilet paper, medicine, and even food have disappeared from store shelves in Venezuela, the peer-to-peer network has become the only reliable way to secure life’s necessities. In desperate situations like this, the existence of independent merchants can mean the difference between life and death.
For the most part, common people in places like Ancient Rome used silver to buy daily staples like grain or wine. As a result, silver has a strong reputation through monetary history as the “people’s money”.
Even today, silver is still much more widely accessible. With one ounce of gold being 70x more expensive than an ounce of silver, it’s difficult for someone who is just starting to accumulate wealth to own gold.
There’s an air of furtive desperation about the proceedings.
As debates rage in Europe over whether or not to take a two-speed or multi-speed approach to post-Brexit integration, Germany rekindled interest in the creation of a European Monetary Fund.
Chancellor Angela Merkel and Finance Minister Wolfgang Schäuble both want to upgrade the grossly unaccountable Luxembourg-based European Stability Mechanism (ESM) into an IMF-style rescue fund that will “be granted the authority to monitor the finances of all eurozone countries,” reports Der Tagesspiegel.
Wilmington, NC — A powerful video, taken by an attorney while being harassed by police, illustrates the power of filming — and why cops will lie through their teeth, apply intimidation tactics, and threaten you to get you to stop it.
Attorney Jesse Bright, who works as an Uber driver in his spare time, was on a round trip drive, bringing a man who works as a pet groomer to pick up his paycheck on Feb. 26. During the first Uber stop, police suddenly surrounded the vehicle and forced the passenger to submit to a search because they were near a known “drug house.”
Question: Why do Central Banks and Governments hate gold?
Answer: Because they can’t print it
“An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense – perhaps more clearly and subtly than many consistent defenders of laissez-faire – that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other.” – Alan Greenspan, “Gold and Economic Freedom”
Just like everything else in the western financial system, the paper trading markets are leveraged beyond redemption. The amount of paper “claims” on actual physical gold was estimated to be 100:1 in 2010. We can assure you that ratio is much higher now. On the Comex alone, for instance, if more than 9% of the April open interest in gold futures were to stand for delivery – based on the currently declared 1.4 million ounces of gold reported as being “available for delivery” (registered) – the Comex would default. The entire open interest in gold futures is 60x greater than the amount of gold available for delivery.
The United States has been growing progressively insane for a long time. For my generation, the realization descended upon us in the 1960s when the military/security complex convinced Americans that if we permitted Vietnamese nationalist leader Ho Chi Minh to unify Vietnam, the dominoes would fall until the Communist World Revolution had us in its grip. This despite the fact that Stalin had killed off the Trotskyist world revolutionaries and declared “Socialism in one country.”
Nationalists in the West’s colonies, such as Vietnam and Cuba, misinterpreted the talk about making the world safe for self-determination as applying to them. Ho Chi Minh helped the US against Japan during World War 2. His requests for US help for Vietnamese independence from France were cold-shouldered by the Truman administration. He did not turn against the US until Washington turned against him. http://www.historynet.com/ho-chi-minh-and-the-oss.htm
from Harvey Organ:
DRAGHI SEES NO URGENT NEED TO CONTINUE QE ONCE PROGRAM ENDS/USA SENDS TROOPS TO SYRIA AND IN ALL LIKELIHOOD A NEW OFFENSIVE ON RAQQA/CRUDE OIL COLLAPSES TO 48 DOLLARS PER BARREL, ALONG WITH OTHER COMMODITIES/EMERGING MARKETS COLLAPSE/FOX NEWS CONFIRM TWO WIRETAPS ON TRUMP’S SERVER: ONE BEING A FISA ORDER
In silver, the total open interest FELL by ONLY 976 contracts DOWN to 191,422 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 0.957 BILLION TO BE EXACT or 137% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH: THEY FILED: 708 NOTICE(S) FOR 3,540,000 OZ OF SILVER
In gold, the total comex gold FELL BY A CONSIDERABLE 6.774 contracts WITH ANOTHER FALL IN THE PRICE GOLD ($9.00 with YESTERDAY’S trading ).The total gold OI stands at 427,627 contracts.
Read More @ Harveyorganblog.com
Obama has joined the birther movement.
Malik Obama, Barack Obama’s half-brother, tweeted image of what appears to be Barack’s birth certificate. Except it’s not from Hawaii, but rather Kenya.
“What’s this?” he tweeted.
The document is from the “Coast Province General Hospital” in Mombasa, British Protectorate of Kenya, and is for Barack Hussein Obama II, who was born on the “4th day of August, 1961.”
There is an inherent dilemma for most of the people living in cities.
Even those who are aware of the extremely fragile fabric of society are often stuck living urban lives. Perhaps they plan to retire to a country abode, or construct a hideaway to escape to if the need ever arises, but for now, they are stuck in the city making a living.
This is true even for the rich, but now, they have a back-up plan.
The biggest of American cities, and one of the most gridlocked, is New York City, with Manhattan and Long Island both isolated islands – trapped during emergencies from the rest of the world.