If silver hits $75-100, or scoots well into triple digits then more than just hard core silver stackers will take notice. We will finally see a real stampede as the general public begins entering the market.
As silver moves through $75 an ounce and the general public finally takes notice, MOPE will be flowing like crap down a sewer to dissuade people from buying.
I don’t believe Joe 6-Pack will understand what is happening if silver takes out $49 any more than they did when it hit $49 in May 2011.
The only ones who noticed or seemed to understand were people like us and the Cartel and for very different reasons.
If silver hits $75-100, or scoots well into triple digits then more than just hard core silver stackers will take notice. We we finally see a real stampede as the general public begins entering the market.
Read More @ Silver Doctors
by Zen Gardner, ZenGardner.com
Weekly Chartopia
A summary of this week's charts of note, that were 'neither here nor there', yet which all have a story of their own.
The Japanese Writing On The Walls
With "unlimited" bond purchases confirmed by Super Mario and the ECB and the Fed essentially doing the same thing without calling it so, it is nothing short of integral to juxtapose the current western world central banking revolution with that of the Bank of Japan in the 80s. Japan faced an asset bubble that forced the nationalization decapitation of many Japanese banks whose lending practices and balance sheets depended upon the appreciation of said frothy assets (mainly real-estate, sound familiar?), which threw the country into recession in 1990...four years after the crisis was considered to have begun.
The Biggest Shock From This Friday's Payroll Report (Sorry Men)
By now much has been written about the joke that was the collapse in the labor force participation rate. Perhaps too much, especially for a topic which as we predicted back in early 2011, would be the primary fudge factor allowing mainstream media headlines to blast America's economic renaissance. Remember: it is all about "confidence." Little, however, has been said about the constituents of this dramatic plunge to a 31 year low, namely the simplest distinction: that between genders. As the chart below shows, when one spreads the labor force by sex, the Friday data is particularly sad for one class of workers: Men. Because as the seasonally adjusted data shows, the labor force participation rate for men just printed at 69.8%. It has never been lower.
Thought Experiment Of The Absurd: Zero American Unemployment Before The Next Presidential Election
Back in May, we decided to conduct a thought experiment of the absurd as these are usually the best demonstration of modern-day economic insanity, when we extrapolated, based on trailing 12 month average data in the key labor market indicators, namely the number of total employees, the number of unemployed, the size of the labor force, and most importantly, the number of people not in the labor force, just when the US unemployment rate would hit not only zero, but go negative. As a reminder, we found then "that at the current surge of those leaving the labor force, the US unemployment rate will hit 0.0% in December of 2021 and finally go negative, or -0.1% in January 2022." Today, in the aftermath of Friday's farcical jobs data, we decided to update his absurdist thought experiment, because sadly what we thought was absurdity four months ago has proven to be reality. Should the number of people not in the labor force continue to surge at the August rate of 581,000/month, America will be "unemployment free" in October 2016, before the end of the next president's term, which judging by the most recent opinion polls looks to be Obama. The fine print: the labor force participation rate in November 2016 will be a record low 48.1%, and which, if extrapolated further into the future, would see less than a third of eligible US workers have a job by May 2022, as two thirds of the US population live on perpetual government handouts.
by Richard (Rick) Mills, Gold Seek:
As a general rule, the most successful man in life is the man who has the best informationLet’s ask ourselves two simple questions;
1. How do economists, and Federal Reserve chief Ben Bernanke is an economist, discern whether an economy is growing, is vibrant and healthy? Well, for most economists it’s a simple number, they use a country’s Gross Domestic Product (GDP) to measure the state of the economy.
2. What’s the most important thing for a politician? The answer is getting reelected.
Wikipedia defines GDP as “the market value of all officially recognized final goods and services produced within a country in a given period.”
There are three – product/output, income approach and the expenditure approach – different ways to calculate GDP, all of which should give the same result. The expenditure approach to measuring GDP basically measures the total amount of spending, at market prices, by individuals (end users) for one year, on newly-produced goods and services – GDP measures how much money we spend.
Read More @ GoldSeek.com
by Zen Gardner, ZenGardner.com
I don’t know how else to see this insanity. We complain about our
“enemies” and keep arming them to the teeth. And not just for war on the
enemy or invader du jour, but now for the global war on the freedom and
autonomy of all citizens anywhere.
How long can they keep this charade up?
And you can bet your booties these drones will be rigged to report to a central intelligence installation. The Big Eye goes global.
Nobel Peace at last – even Orwell would be shocked.
In Plane Sight – Here’s the Latest Announcement:
Pentagon lists 66 countries as eligible to buy US drones
The 66 countries were listed in a Defense Department policy worked out last year to clear the way for wider overseas sales of unmanned aerial systems, as the Pentagon calls such drones, said Richard Genaille, deputy director of the Pentagon’s Defense Security Cooperation Agency. He did not name them.
“We don’t really have a comprehensive U.S. government policy” on such exports, he told an industry conference called ComDef 2012. “It hasn’t moved quite as fast as we would like, but we’re not giving up.”
Read More @ ZenGardner.com
I don’t know how else to see this insanity. We complain about our
“enemies” and keep arming them to the teeth. And not just for war on the
enemy or invader du jour, but now for the global war on the freedom and
autonomy of all citizens anywhere.How long can they keep this charade up?
And you can bet your booties these drones will be rigged to report to a central intelligence installation. The Big Eye goes global.
Nobel Peace at last – even Orwell would be shocked.
In Plane Sight – Here’s the Latest Announcement:
Pentagon lists 66 countries as eligible to buy US drones
The 66 countries were listed in a Defense Department policy worked out last year to clear the way for wider overseas sales of unmanned aerial systems, as the Pentagon calls such drones, said Richard Genaille, deputy director of the Pentagon’s Defense Security Cooperation Agency. He did not name them.
“We don’t really have a comprehensive U.S. government policy” on such exports, he told an industry conference called ComDef 2012. “It hasn’t moved quite as fast as we would like, but we’re not giving up.”
Read More @ ZenGardner.com
by Jeff Berwick, Dollar Vigilante:
It was Friday morning and Gary Gibson and I had decided to go to San Diego and see a number of friends and colleagues at Casey Research’s, “The Politicized Economy” conference. Trying to do everything we could to avoid the TSA and harassment by the US Government we flew direct from Acapulco to Tijuana on Volaris. But, upon arrival we immediately had our documents checked by numerous Mexican police officials and they pulled us to the side to rout through our luggage and ask us what we were doing and where we are going. Then, once past them, as I protested, we again had to put our bags through another scanning machine manned by armed soldiers.
I threw my hands in the air as though to say, “how many people need to look through our stuff?”… the answer is zero, by the way. As I collected my bags one of the soldiers said in spanish, “too many checkpoints eh?”. I responded in the affirmative and he said, “I know.” Even he saw the ridiculousness of it all… but being an airport on the border of Mordor they appear to have taken their marching orders from the all-seeing eye to the north.
Read More @ DollarVigilante.com
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It was Friday morning and Gary Gibson and I had decided to go to San Diego and see a number of friends and colleagues at Casey Research’s, “The Politicized Economy” conference. Trying to do everything we could to avoid the TSA and harassment by the US Government we flew direct from Acapulco to Tijuana on Volaris. But, upon arrival we immediately had our documents checked by numerous Mexican police officials and they pulled us to the side to rout through our luggage and ask us what we were doing and where we are going. Then, once past them, as I protested, we again had to put our bags through another scanning machine manned by armed soldiers.
I threw my hands in the air as though to say, “how many people need to look through our stuff?”… the answer is zero, by the way. As I collected my bags one of the soldiers said in spanish, “too many checkpoints eh?”. I responded in the affirmative and he said, “I know.” Even he saw the ridiculousness of it all… but being an airport on the border of Mordor they appear to have taken their marching orders from the all-seeing eye to the north.
Read More @ DollarVigilante.com
By Kaveh L Afrasiabi , Asia Times.com:
Egypt and Iran this week took a giant step toward overcoming their
diplomatic estrangement, brought together by the exigencies of a global
movement and, even more so, a complex regional calculus that has a long
history of being shaped by foreign powers.
In a sign of changing times, the Egyptian President Mohammed Morsi used the opportunity of his participation in the Non-Aligned Movement (NAM) summit in Tehran to put on full display of the delicate yet significant nuances of a “new Egypt” that has unshackled itself from foreign domination and moves according to its own incandescent atmosphere.
At the landmark summit’s opening day, the speeches by Morsi and his Iranian hosts such as by Supreme Leader Ayatollah Khamenei and Iran’s President Mahmoud Ahmadinejad, reflected a symbiosis that explains why the NAM torch was passed from Morsi’s hands to Ahmadinejad, in light of the common themes of decrying unjust global structures, support for Palestinians, a Middle East nuclear weapons-free zone, etc.
Read More @ ATimes.com
Egypt and Iran this week took a giant step toward overcoming their
diplomatic estrangement, brought together by the exigencies of a global
movement and, even more so, a complex regional calculus that has a long
history of being shaped by foreign powers.In a sign of changing times, the Egyptian President Mohammed Morsi used the opportunity of his participation in the Non-Aligned Movement (NAM) summit in Tehran to put on full display of the delicate yet significant nuances of a “new Egypt” that has unshackled itself from foreign domination and moves according to its own incandescent atmosphere.
At the landmark summit’s opening day, the speeches by Morsi and his Iranian hosts such as by Supreme Leader Ayatollah Khamenei and Iran’s President Mahmoud Ahmadinejad, reflected a symbiosis that explains why the NAM torch was passed from Morsi’s hands to Ahmadinejad, in light of the common themes of decrying unjust global structures, support for Palestinians, a Middle East nuclear weapons-free zone, etc.
Read More @ ATimes.com
from, Bloomberg:
The biggest-ever imports of corn by China, the world’s largest
livestock producer, may help sustain a record rally in Chicago that’s
been driven by drought across the U.S. Midwest, according to Rabobank
International.
Shipments may climb to 7 million metric tons in the year starting Oct. 1 from about 5 million tons this year, Daron Hoffman, Shanghai-based director of research, said in an interview. That compares with a U.S. Department of Agriculture forecast for a 60 percent drop to 2 million tons in 2012-2013.
Record imports by China may spur higher prices, lifting global food costs and forcing rival importers to cut purchases. China’s demand needs to be met by imports no matter what the price, according to Nathan Broders, director of feed ingredients at INTL FCStone Inc. Corn has rallied 24 percent to a record this year as the worst U.S. drought since 1936 slashed output.
Prices may be much higher in the second half of 2012 as China increases purchases, Hoffman said yesterday, without giving a forecast. His estimate for imports in 2012-2013 is higher than the USDA’s outlook because he sees a smaller increase in China’s output this year, he said in Shanghai.
Read More @ Bloomberg
The biggest-ever imports of corn by China, the world’s largest
livestock producer, may help sustain a record rally in Chicago that’s
been driven by drought across the U.S. Midwest, according to Rabobank
International.Shipments may climb to 7 million metric tons in the year starting Oct. 1 from about 5 million tons this year, Daron Hoffman, Shanghai-based director of research, said in an interview. That compares with a U.S. Department of Agriculture forecast for a 60 percent drop to 2 million tons in 2012-2013.
Record imports by China may spur higher prices, lifting global food costs and forcing rival importers to cut purchases. China’s demand needs to be met by imports no matter what the price, according to Nathan Broders, director of feed ingredients at INTL FCStone Inc. Corn has rallied 24 percent to a record this year as the worst U.S. drought since 1936 slashed output.
Prices may be much higher in the second half of 2012 as China increases purchases, Hoffman said yesterday, without giving a forecast. His estimate for imports in 2012-2013 is higher than the USDA’s outlook because he sees a smaller increase in China’s output this year, he said in Shanghai.
Read More @ Bloomberg
by Douglas French, Daily Reckoning.com.au:
Oceans of [US] taxpayer money and patience have been devoted to propping up the US banking system. Why? So that when we go to retrieve our money from an ATM our money will actually come out.
At least that’s what then-Treasury Secretary Hank Paulson told us when the big US banks were on the verge of hitting the fan in 2008 and 2009.
The implication was that if the US banks failed – “poof” – our money would go with them. Nobody wanted to lose their cash, not at the same time many people’s 401(k)s were being turned into 201(k)s.
The government wasn’t going to let that happen. In the heat of the crisis the federal government committed $23.7 trillion – yes, with a “t” – to make sure bank depositors could sleep at night and bank executives had a place to work during the day.
That big, scary, impossible-to-comprehend number was calculated by Kevin Puvalowski, who worked directly for Neil Barofsky, the special inspector general for TARP (SIGTARP) and author of an illuminating new book about his experience, Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street.
Read More @ DailyReckoning.com.au
Oceans of [US] taxpayer money and patience have been devoted to propping up the US banking system. Why? So that when we go to retrieve our money from an ATM our money will actually come out.
At least that’s what then-Treasury Secretary Hank Paulson told us when the big US banks were on the verge of hitting the fan in 2008 and 2009.
The implication was that if the US banks failed – “poof” – our money would go with them. Nobody wanted to lose their cash, not at the same time many people’s 401(k)s were being turned into 201(k)s.
The government wasn’t going to let that happen. In the heat of the crisis the federal government committed $23.7 trillion – yes, with a “t” – to make sure bank depositors could sleep at night and bank executives had a place to work during the day.
That big, scary, impossible-to-comprehend number was calculated by Kevin Puvalowski, who worked directly for Neil Barofsky, the special inspector general for TARP (SIGTARP) and author of an illuminating new book about his experience, Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street.
Read More @ DailyReckoning.com.au
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