from KingWorldNews:
With continued turmoil in global markets, the Godfather of newsletter
writers, Richard Russell, issued some ominous warnings and gave some
strong advice to investors in his latest commentary:
With continued turmoil in global markets, the Godfather of newsletter
writers, Richard Russell, issued some ominous warnings and gave some
strong advice to investors in his latest commentary:
“Save some cash, load up with gold and silver, and be
patient. Get ready for a crime wave — a large segment of the population
will do ‘whatever it has to’ in order to obtain food. Hungry men and
women can be desperate and lawless.”
Richard Russell continues @ KingWorldNews.com
from TheAlexJonesChannel :
“If things are not fixed and quick : “The cities are going to look like Dodge City. They’re going to be uncontrollable. You’re going to have gangs in control, motorcycle marauders. You’re not going to have enough police or federalis, just like Mexico, to control the situation.New York City looks like Mexico City. If you have money or they think you’re going to have money, you’re going to be a target for a kidnapping. We’re going to see major cities look like Calcutta. There is going to be the homeless, panhandlers, hookers.we are going to see petty thieves and we’re going to see pick-pockets. And the other thing, even these — even these gated communities won’t be safe, because you’re going to see criminality — you’re going to see gangs like you’ve never seen before. Listen, when people have nothing left to lose, and they’ve lost everything, they lose it. And now, you have a society — we’re a dissenting society. I mean, you look at high school graduation rates — you have under 50 percent in major cities.”
“If things are not fixed and quick : “The cities are going to look like Dodge City. They’re going to be uncontrollable. You’re going to have gangs in control, motorcycle marauders. You’re not going to have enough police or federalis, just like Mexico, to control the situation.New York City looks like Mexico City. If you have money or they think you’re going to have money, you’re going to be a target for a kidnapping. We’re going to see major cities look like Calcutta. There is going to be the homeless, panhandlers, hookers.we are going to see petty thieves and we’re going to see pick-pockets. And the other thing, even these — even these gated communities won’t be safe, because you’re going to see criminality — you’re going to see gangs like you’ve never seen before. Listen, when people have nothing left to lose, and they’ve lost everything, they lose it. And now, you have a society — we’re a dissenting society. I mean, you look at high school graduation rates — you have under 50 percent in major cities.”
from Dollar Vigilante:
If there has been a more dangerous time for your wealth in human history we are unaware of it.
There have been individual or even entire nations of people who have been wiped out in the past but never before has there been such risk to assets across the entire globe.
In the past, a few savvy Zimbabweans have converted their Zimbabwe dollars into US dollars to sidestep the complete annihilation of their currency and savings. Or residents of the Weimar Republic were able to salvage their wealth and savings by stepping across the border and converting their marks into francs.
But what happens when the US dollar, the world’s reserve currency, and with it all fiat currencies collapse? It’s not an if, it’s a when.
Read More @ DollarVigilante.com
If there has been a more dangerous time for your wealth in human history we are unaware of it. There have been individual or even entire nations of people who have been wiped out in the past but never before has there been such risk to assets across the entire globe.
In the past, a few savvy Zimbabweans have converted their Zimbabwe dollars into US dollars to sidestep the complete annihilation of their currency and savings. Or residents of the Weimar Republic were able to salvage their wealth and savings by stepping across the border and converting their marks into francs.
But what happens when the US dollar, the world’s reserve currency, and with it all fiat currencies collapse? It’s not an if, it’s a when.
Read More @ DollarVigilante.com
Gold Resumes Surge As NEW QE Rumor Is Back
We
guessed it wouldn't be too long before the next rumor was dropped and
Gold is surging - now over $1670 - on this latest chatter... Don't tell
Gartman, but gold is now of 5% higher in math terms from the minute the
"world renowned" gold swing trader sold everything. JPMorgan Technicals: "The “One Way” Market Rally Since Dec-Jan Is Over"
For those who believe in this sort of thing, here is JPM's Chief Technician Michael Krauss, who says that "The “one way” market rally since Dec-Jan is over. Expect weeks, if not months of lateral movement." Well, there's that. Then there is the only thing that matters in "markets" these days - which way Ben Bernanke sneezes. Everything else is meaningless: McClellan oscillators, Ichimoku clouds, RSIs, oh and of course, fundamentals.
The "Dudley" Rally
Trader Dan at Trader Dan's Market Views - 44 minutes ago
New York Fed President William Dudley apparently supplied both the gasoline
and the match to the "risk asset" fire this morning as his comments sparked
a strong rally in both equities and in commodities. Interestingly enough,
the markets were relatively flat after the gain in unemployment claims as
traders began fearing that the pop in the payrolls numbers of late was
about to become a thing of the past.
Dudley reversed all of that when he stated that it was too soon to say the
US economy was out of the woods. That was all that traders needed as their
brains are already preprogramme... more »
We May Easily Have A Correction Of 10 To 20 percent
Admin at Marc Faber Blog - 1 hour ago
I think we may easily have a correction of 10 to 20 percent here. Most
stocks are already down 10 percent from their highs. - *in Fox Business*
*Related, iShares Russell 2000 Index ETF (IWM), SPDR S&P 500 ETF (SPY),
ProShares UltraShort S&P500 ETF (SDS)*
*Marc Faber is an international investor known for his uncanny predictions
of the stock market and futures markets around the world.*
Alabama county could hike rates to pay sewer debt: receiver
Eric De Groot at Eric De Groot - 1 hour ago
States lacking the power of the printing press either raise taxes or
default. Municipalities trying to stave off poor decision-making during
expansion often try to pass tax increases into the teeth of a contraction.
That is, until an angry crowd marches to the steps of the capital with
pitchforks, drums, and signs suggesting something along the lines of ‘Up
Yours!’ Headline: Alabama county...
[[ This is a content summary only. Visit my website for full links, other
content, and more! ]]
Jobless claims cast cloud on labor market
Eric De Groot at Eric De Groot - 2 hours ago
The labor market will become increasingly cloudy as the economic cycles
kick-in. The Fed despite the pomp and circumstance surrounding it is just
another market follower. Market forces are pushing QE to infinity
regardless of public acceptance or recognition. Chart: Average Weekly
Initial Claims State Unemployment (AWIC) And YOY Change Headline: Jobless
claims cast cloud on...
[[ This is a content summary only. Visit my website for full links, other
content, and more! ]]
The Boom & Bust Cycle
Admin at Jim Rogers Blog - 2 hours ago
A view on the business cycle, Wall Street and Agriculture.
*Jim Rogers is an author, financial commentator and successful
international investor. He has been frequently featured in Time, The New
York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The
Financial Times and is a regular guest on Bloomberg and CNBC.*
Video Interview, RT.com
Admin at Marc Faber Blog - 2 hours ago
Latest video interview, RT.com *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.*
'All-Clear' As Europe Recovers Post-NFP Losses
All
it took was a Frenchman losing his nerve, some chatter on QE, and a
few more weak US and EU data points, and hope for better Chinese GDP,
and sure enough - free-money-flow is back on the table and risk assets
are responding. European equity and credit markets have all but totally recovered to their Thursday closing (pre-NFP-plunge) levels. European sovereigns are mixed
with Portugal 27bps wider than pre-NFP, Spain unch, and Italy -11bps
but EURUSD is higher on the day and now back above last Thursday's highs
as we note Europe's VIX dropped in sync with US VIX today - still maintaining relatively elevated levels historically relative to the US.Uncrossing The Rubicon Toward A Euro Federal State: Germans Challenge ESM, Fiscal Pact In Constitutional Court
And the plan was going so well. The plan, of course, being to dispose of German budget sovereignty and transfer decision-making authority to a fully immune organization seated in Luxembourg, which just happens to be a tax haven, in the process stripping not only all of Europe, but also Germany of sovereignty, with the ESM being run by a few bankers, held accountable to no one(explained here). German FAZ has just announced that jurists and 2 political parties in Germany are going to appeal to the Constitutional Court, and demand an end of the Merkel Fiscal pact and the ESM, both of which have been implemented without so much as an inquiry as to what the people think, those millions of ever angrier Germans we wrote about back in July. That may be finally changing.Cashin On Gartman On Diocletian's Lessons In Central Planning
We all have had our fair share recently of Gartman the "market timer" (here and here).
However, little have we experienced of Gartman "the historian". Here
he is, by way of Art Cashin, being off by 300 years notwithstanding,
describing something that he has intoned on recently in his
ever-so-frequent appearances on CNBC: the "they" who are in control, or in this case the central planners whose decisions ultimately lead to nothing but ruin.Goldman On The Greek Elections
Yesterday,
Greek Prime Minister Papademos visited President Papoulias to announce
the dissolution of the current parliament. General elections have been
called for the May 6. Elections in Greece are held in a one-round
national ballot. In a brief note on the actions and implications of the Greek election, Goldman notes that the Greek political scene is undergoing a significant transformation. The traditional split between center-left (PASOK) and center-right (New Democracy, or ND)) is no longer
the key dilemma for Greek voters. According to a number of recent
polls, there is a significant margin of undecided voters. In addition, a
number of small and new parties are projected to enter the new
parliament. This has created market concerns that the Greek elections could lead to an anti-Euro government, which could interrupt the adjustment efforts underway and create risks to local financialShould Corrupt Bankers Face the Death Penalty?
Let’s
be clear: financial misdeeds ruin lives. If a Madoff takes your money
and uses it to pay off other investors in a ponzi scheme, you won’t be
able to get it back. If a Blankfein underling issues you with
misleading advice, and then bets against you (creaming himself a nice
profit), you won’t be able to get it back. If a Corzine steals your
money and uses it to bet on the European sovereign debt market, you
might not be able to get it back. You might end up in poverty or worse.
You might lose your children’s college money, your retirement money, or
capital you needed for your business. You might lose your home. So
shouldn’t we take a tough line against financial misdeeds? Shouldn’t
tricking and stealing from investors, tricking and stealing from the
public, tricking and stealing from clients carry a heavy disincentive,
like death? Would a corrupt banker not think twice about their
misdeeds if they knew that apprehension would mean a noose around their
neck and a kicked bucket? A lot of commentators — like for example, Max Keiser
— seem to think so. And in China financial crimes are treated with a
gravity far beyond a cushy minimum security cell, and home visits on
the weekends. Financial criminals in China are often executed.
from Testosterone Pit.com:
The first quarter of 2012 was brutal for businesses in France: 16,206 filed
for bankruptcy. A trajectory that may demolish the prior annual record
set in 2009 during the worst of the financial crisis when 61,595 firms
went bust.
Since then, bankruptcy filings eased off: 58,673 in 2010 and 58,195 in
2011. But now the direction has changed—and worse, it is threatening a
lot more jobs.
Bankruptcy filings aren’t clean, like GDP which is adjusted and groomed and beautified in a million ways; they’re raw and ugly, but useful, like a grimy dipstick into the gritty reality at the bottom of the economic crankcase. And in France, they fall into three categories: liquidation, restructuring, and “safeguarding,” an option since 2005 that allows debtors that are not yet insolvent, but can demonstrate financial distress, to benefit from the safeguarding proceedings—with the goal of keeping teetering companies from toppling.
Read More @ TestosteronePit.com
The first quarter of 2012 was brutal for businesses in France: 16,206 filed
for bankruptcy. A trajectory that may demolish the prior annual record
set in 2009 during the worst of the financial crisis when 61,595 firms
went bust.
Since then, bankruptcy filings eased off: 58,673 in 2010 and 58,195 in
2011. But now the direction has changed—and worse, it is threatening a
lot more jobs.Bankruptcy filings aren’t clean, like GDP which is adjusted and groomed and beautified in a million ways; they’re raw and ugly, but useful, like a grimy dipstick into the gritty reality at the bottom of the economic crankcase. And in France, they fall into three categories: liquidation, restructuring, and “safeguarding,” an option since 2005 that allows debtors that are not yet insolvent, but can demonstrate financial distress, to benefit from the safeguarding proceedings—with the goal of keeping teetering companies from toppling.
Read More @ TestosteronePit.com
by Bill Witherell, Financial Sense:
The French economy, the second largest in the Eurozone and considered
to be a critical part of the “core,” is increasingly seen as
“struggling.” Fundamental structural deficiencies that are continuing
to gnaw at France’s ability to compete internationally are now being
emphasized in a presidential election campaign in which both leading
candidates are making election promises that, if fulfilled, would surely
make it even more difficult to tackle France’s economic problems. And
this is occurring at a time when the Eurozone’s sovereign debt crisis is
far from being resolved and much of Europe is in recession. Industrial
production declined in February, the third month of declines.
Read More @ Financial Sense.com
The French economy, the second largest in the Eurozone and considered
to be a critical part of the “core,” is increasingly seen as
“struggling.” Fundamental structural deficiencies that are continuing
to gnaw at France’s ability to compete internationally are now being
emphasized in a presidential election campaign in which both leading
candidates are making election promises that, if fulfilled, would surely
make it even more difficult to tackle France’s economic problems. And
this is occurring at a time when the Eurozone’s sovereign debt crisis is
far from being resolved and much of Europe is in recession. Industrial
production declined in February, the third month of declines.Read More @ Financial Sense.com
from Azizonomics:
Tyler Durden pointed out yesterday that just three weeks after Goldman made the case for equities relative to bonds, the muppets who had listened to their advice were getting skewered.
I wrote a while back that (unlike some others) I didn’t believe it was likely that this was going to be a cataclysmic rate spike. Readers who want to detect one need to watch whether sovereign creditors especially Russia and China are selling, and at what pace — the faster the liquidation, the more rates may spike.
Of course, I am still convinced that the real fragility to America’s economy isn’t actually a rate spike or inflation.The Fed has a very good handle on both of these things (but not, of course — as is always the case with central planning — on unwanted side effects. They can effectively do QE (and monetise debt) without really inflating the currency much; simply shoot the money to primary dealers for treasuries, and pay the primary dealers interest on excess reserves so that very little of the money gets lent out, thus inflating the currency.
Read More @ Azizonomics.com
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Tyler Durden pointed out yesterday that just three weeks after Goldman made the case for equities relative to bonds, the muppets who had listened to their advice were getting skewered.
I wrote a while back that (unlike some others) I didn’t believe it was likely that this was going to be a cataclysmic rate spike. Readers who want to detect one need to watch whether sovereign creditors especially Russia and China are selling, and at what pace — the faster the liquidation, the more rates may spike.
Of course, I am still convinced that the real fragility to America’s economy isn’t actually a rate spike or inflation.The Fed has a very good handle on both of these things (but not, of course — as is always the case with central planning — on unwanted side effects. They can effectively do QE (and monetise debt) without really inflating the currency much; simply shoot the money to primary dealers for treasuries, and pay the primary dealers interest on excess reserves so that very little of the money gets lent out, thus inflating the currency.
Read More @ Azizonomics.com
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