Why are governments rushing to eliminate cash? Simply put, the central banks have lost control of the ability to stimulate anything.
from Armstrong Economics:
This Sovereign Debt Crisis is the nature of the beast we face.
Understanding that crisis is half the battle for after the business
cycle turns, there will be a lot of finger-pointing but you can bet it
will never be pointing at government. It does not matter what country we
are from, the people are the same. The audience last night in Warsaw
was articulate, understood, and the audience made it known that they too
distrust government. It really matters not our nationality. People
never start wars, only governments which are not the people.
It is also never private debt that causes the end of a nation, it is the debt of government. When people default, their assets are seized and they were often thrown in debtors prison. When government defaults, you get revolution. Adam Smith called this the highest impertinence of kings to pretend to watch over the debts of the people and not their own. This cycle of political change is about 309.6 years. The last wave began in the 1600s and culminated in the late 1700s, The wave before that is where capitalism began during the 14th century with the reintroduction of wages and taxes following the Black Death of 1346-1353.
Read More @ ArmstrongEconomics.org
This Sovereign Debt Crisis is the nature of the beast we face.
Understanding that crisis is half the battle for after the business
cycle turns, there will be a lot of finger-pointing but you can bet it
will never be pointing at government. It does not matter what country we
are from, the people are the same. The audience last night in Warsaw
was articulate, understood, and the audience made it known that they too
distrust government. It really matters not our nationality. People
never start wars, only governments which are not the people.It is also never private debt that causes the end of a nation, it is the debt of government. When people default, their assets are seized and they were often thrown in debtors prison. When government defaults, you get revolution. Adam Smith called this the highest impertinence of kings to pretend to watch over the debts of the people and not their own. This cycle of political change is about 309.6 years. The last wave began in the 1600s and culminated in the late 1700s, The wave before that is where capitalism began during the 14th century with the reintroduction of wages and taxes following the Black Death of 1346-1353.
Read More @ ArmstrongEconomics.org
from Outsider Club:
People keep saying our relationship with Russia is at its lowest point
since the Cold War, but I think it’s pretty clear now that the Cold War
never actually ended.
It’s just heated back up in the past year.
Now, we can’t go a week without Vladimir Putin or some other Russian official threatening the United States and Europe with nuclear annihilation.
“Russia is one of the most powerful nuclear nations,” Putin said last summer. “It is better not to come against Russia as regards a possible armed conflict.”
Read More @ OutsiderClub.com
People keep saying our relationship with Russia is at its lowest point
since the Cold War, but I think it’s pretty clear now that the Cold War
never actually ended.It’s just heated back up in the past year.
Now, we can’t go a week without Vladimir Putin or some other Russian official threatening the United States and Europe with nuclear annihilation.
“Russia is one of the most powerful nuclear nations,” Putin said last summer. “It is better not to come against Russia as regards a possible armed conflict.”
Read More @ OutsiderClub.com
What Goldman Is Telling Its Clients: Sell In May And Don't Come Back For One Year
In recent months Goldman's chief equity strategist David Kostin has been getting increasingly "toppish" if not outright bearish on stocks. In his latest report he now openly warns that "the market will rise to 2150 by mid-year but fade after the Fed raises interest rates in September for the first time in nine years." As a result Goldman's "year-end forecast is 2100 and its 12-month target equals 2125." Which is where it closed on Friday. In other words, sell in May and come back until next May.
from KingWorldNews:
The first thing that’s needed is diversification. People know that
diversification feels wonderful in a bear market, but if feels painful
in a bull market and brutal in a late-stage bull market. People should
recognize that diversification is most urgently needed when it is least
wanted. In a late-stages bull market, nobody wants diversification.
But that is exactly when it is most required. And diversification means
going into markets that are out of favor.
The Dark Side Of A Bull Market
The dark side of a bull market is that it leaves you with lousy forward-looking returns. Which markets have had a huge bull market around the world? U.S. government stocks, bonds, TIPS and REITs are an example. What markets are priced to offer lousy forward-looking returns? Those same markets. People want to chase what’s done well in the past. Hardly anyone says, ‘Oh, this market has done great — get me out of it. And this market has done terribly, I wonder if that’s now a bargain?’ We’ve all heard the saying, ‘Buy when there’s blood in the streets.’ Well, there’s blood in the streets in these countries and they should be buying there but people don’t think that way.”
Rob Arnott Continues @ KingWorldNews.com
The first thing that’s needed is diversification. People know that
diversification feels wonderful in a bear market, but if feels painful
in a bull market and brutal in a late-stage bull market. People should
recognize that diversification is most urgently needed when it is least
wanted. In a late-stages bull market, nobody wants diversification.
But that is exactly when it is most required. And diversification means
going into markets that are out of favor.The Dark Side Of A Bull Market
The dark side of a bull market is that it leaves you with lousy forward-looking returns. Which markets have had a huge bull market around the world? U.S. government stocks, bonds, TIPS and REITs are an example. What markets are priced to offer lousy forward-looking returns? Those same markets. People want to chase what’s done well in the past. Hardly anyone says, ‘Oh, this market has done great — get me out of it. And this market has done terribly, I wonder if that’s now a bargain?’ We’ve all heard the saying, ‘Buy when there’s blood in the streets.’ Well, there’s blood in the streets in these countries and they should be buying there but people don’t think that way.”
Rob Arnott Continues @ KingWorldNews.com
Stephen King Warns "The Second Great Depression Only Postponed, Not Avoided"
Submitted by Tyler Durden on 05/16/2015 - 15:00 Reading like his name-sake's horror novels, HSBC's Chief Economist Stephen King unleashes a torrent of truthiness about the Titanic-like economic ocean liner that is headed for an iceberg except this fragile ship doesn’t have lifeboats.
The War On Cash Destroys A Small Entrepreneur
"It’s not fair to the American people who work for a living that one day they can knock on the door, walk in their businesses, and say, ‘We just took your money’... I always thought your money was safe in the bank, but I wouldn’t say that now."Neither would we!
Leading German Keynesian Economist Calls For Cash Ban
"Coins and bills are obsolete and only reduce the influence of central banks," German economist and sole Keynesian member of the German Council Of Economic Experts Peter Bofinger tells Spiegel, becoming the latest central planning proponent to suggest that a cashless society would solve the world's economic problems by allowing the government to control who spends what and when in a futile effort to control the business cycle.Caught On Tape: Unequal Opportunity Policing In America
Same laws, same gun, same street. What is the difference between these two Americans walking with an AR-15?
from KingWorldNews:
“So the first go-round was a rip-roaring price inflation because there
had not yet been enough time under the fiat money and balance sheet
expansion by the central banks to create excess capacity in the world
industrial system. So as the boom in demand took off, commodity prices
soared. That fed into domestic costs and labor wages in particular.
There weren’t a million cheap workers coming out of the rice patties in China yet because it was still in the Dark Ages of Mao and not part of the world economy. And so you had a classic inflation blowoff and flight to gold in the 1970s as a result of that initial money printing cycle.
David Stockman Audio Interview @ KingWorldNews.com
“So the first go-round was a rip-roaring price inflation because there
had not yet been enough time under the fiat money and balance sheet
expansion by the central banks to create excess capacity in the world
industrial system. So as the boom in demand took off, commodity prices
soared. That fed into domestic costs and labor wages in particular.There weren’t a million cheap workers coming out of the rice patties in China yet because it was still in the Dark Ages of Mao and not part of the world economy. And so you had a classic inflation blowoff and flight to gold in the 1970s as a result of that initial money printing cycle.
David Stockman Audio Interview @ KingWorldNews.com
The history books tell us about how evil and wicked the Nazis were, so
why aren’t we more alarmed that the United States is becoming more like
Nazi Germany with each passing day? More than three years ago, I wrote
an article entitled “25 Signs That America Is Rapidly Becoming More Like Nazi Germany”
which got a ton of attention. Unfortunately, nothing has gotten better
since I first published that piece. Government control freaks are
still watching us, tracking us, recording our phone calls and monitoring our emails. TSA thugs at our airports are still fondling the private parts of our women and children and laughing while they do it. Our police and our military are still training for civil unrest and martial law in America.
And even though our politicians are socializing our economy and
destroying our constitutional freedoms, the American people keep sending
most of them back to Washington time after time. It is an incredibly
sad thing to watch the country that you love slowly die right in front
of your eyes.Read More…
The Economist "Buries" Gold
The Economist is a quintessential establishment publication. Keynesian shibboleths about “market failure” and the need to prevent it, as well as the alleged need for governments to provide “public goods” and to steer the economy in directions desired by the ruling elite with a variety of taxation and spending schemes as well as monetary interventionism, are dripping from its pages in generous dollops. The magazine has one of the very best records as a contrary indicator whenever it comments on markets. While gold hasn’t yet made it to the front page, but the Economist has sacrificed some ink in order to declare it “dead” (or rather, “buried”).
Greece Will Default On June 5 Without Deal, IMF Leaks
The ECB warns Athens that Greece is rapidly approaching the "end game", as Tsipras sticks to 'red line' rhetoric. Meanwhile, FinMin Varoufakis claims the country will pay wages and pensions this month, but a leaked IMF memo indicates Greece will default on June 5 if it does not strike a deal with creditors by the end of the month.
US Commandos Raid Syria To Kill ISIS "Gas Minister" Identified By Damascus As Saudi Citizen
Days after Obama's official account of the May 2011 bin Laden execution had been severely jeopardized by Seymour Hersh's latest report, and when even official media outlets were forced to admit the White House's story was fabricated before being forced to retract, overnight the administration served its latest distraction to the American people when first thing this morning the press was ablaze with reports that US commandos had raided the eastern Syria town of al-Amr, where they killed a senior Islamic State commander, identified as one Abu Sayyaf, ISIS' "oil minister" in charge of the Islamic State's oil and gas operations.UK PM David Cameron Proclaims: It’s Not Enough To Follow The Law, You Must Love Big Brother
“the creepiest thing David Cameron has ever said.”
Ed. Note: PICTURED: King William IV, David Cameron’s 5th great grandfather. Let’s keep the dynastic rule and the fascism in the family, shall we? ~ SGT
by Jeff Nielson, Bullion Bulls:
A number of previous commentaries have noted the rising tide of Western
fascism, as reflected almost exclusively through the actions of
governing parties. At first; such overt fascism
was centered almost exclusively in the U.S.: “the Patriot Act”,
“Homeland Security”, “the War on Terror”, etc. Translate those phrases
into German, and it would be almost impossible to avoid the compulsion
for a Nazi salute, and a hearty “Seig Heil!”
However, this fascism has begun rapidly spreading. Political labels are now totally meaningless. The so-called “Labour Party” of Tony Blair blithely and enthusiastically endorsed virtually all of the extremist, right-wing policies of the Bush regime, in the U.S. When the (explicitly) right-wing government of Nicolas Sarkozy was defeated by the supposedly “Socialist Party” of France; its new leader, Francois Hollande, immediately embraced hard-core, extremist positions which were even ‘to the right’ of Sarkozy himself.
Read More @ BullionBullsCanada.com
by Jeff Nielson, Bullion Bulls:
A number of previous commentaries have noted the rising tide of Western
fascism, as reflected almost exclusively through the actions of
governing parties. At first; such overt fascism
was centered almost exclusively in the U.S.: “the Patriot Act”,
“Homeland Security”, “the War on Terror”, etc. Translate those phrases
into German, and it would be almost impossible to avoid the compulsion
for a Nazi salute, and a hearty “Seig Heil!”However, this fascism has begun rapidly spreading. Political labels are now totally meaningless. The so-called “Labour Party” of Tony Blair blithely and enthusiastically endorsed virtually all of the extremist, right-wing policies of the Bush regime, in the U.S. When the (explicitly) right-wing government of Nicolas Sarkozy was defeated by the supposedly “Socialist Party” of France; its new leader, Francois Hollande, immediately embraced hard-core, extremist positions which were even ‘to the right’ of Sarkozy himself.
Read More @ BullionBullsCanada.com
Guest Post: How Big Government Kills The American Dream
Last week, Sen. Elizabeth Warren, D-Mass., and New York Mayor Bill de Blasio published their prescription for reviving the American dream. They are right to focus on the dream. They are wrong in their understanding of American history and the role government can play in restoring and fostering the dream.
Only 22 Countries Have Never Been Invaded By Britain (For Now)
While America may have troops in around 150 countries around the world, it still has not 'officially' invaded as many as Britain managed throughout its history... but there's still time.
Birth Tourism: How 1000s Of Pregnant Chinese Women Visit The US To Give Birth (& Get A Passport)
Did you know there exists a highly lucrative business in America that consists of helping pregnant Chinese women get into the U.S. merely to give birth and get their children passports?
Tepco Begins Removing Cover From Destroyed Fukushima Reactor Just As Local Farmers Plant Rice
May is usually the time when farmers in Japan's Fukushima prefecture - best known for being the tragic venue of the 2011 Fukushima Nuclear Power Plant disaster - plant rice. This year, however, they will be planting something else: an unknown, and quite lethal, amount of radioactive dust.
China Creates Perpetual Leverage Machine After Dropping Debt Directive
"China is reversing course on a major effort to tackle its hefty local government debt problem, marking a setback for a priority reform aimed at getting its financial house in order," WSJ reports. The abrupt about-face by Beijing, which will now allow local governments to once again tap shadow banking conduits for high interest loans, comes as the PBoC gets set to ramp up an LTRO-like program designed to essentially monetize trillions in local government debt. The interplay between the debt swap program, Chinese-style LTROs, and the decision to drop the ban on LGFV financing could set the stage for a dramatic increase in the country's already massive debt pile.
[Ed. Note: It takes a REALLY MANLY police officer…. to mace a 10 year old kid. Mike Rivero]
from Raw Story:
A Minneapolis woman accused local police of pepper-spraying her
10-year-old son in the face while accosting a small group of
demonstrators protesting excessive force by police on Wednesday night.
The boy’s mother, Susan Montgomery, told the Minneapolis Star-Tribune that the officer maced her son, Taye, after driving up to her and a group of 10 protesters without warning.
Read More @ RawStory.com
from Raw Story:
A Minneapolis woman accused local police of pepper-spraying her
10-year-old son in the face while accosting a small group of
demonstrators protesting excessive force by police on Wednesday night.The boy’s mother, Susan Montgomery, told the Minneapolis Star-Tribune that the officer maced her son, Taye, after driving up to her and a group of 10 protesters without warning.
Read More @ RawStory.com
from ZenGardner:
Apart from documents that have outlined supposed terrorist threats,
like Al-Qaeda, and their connection to US intelligence agencies, like
the CIA, there are a number of whistleblowers that have come out adding
more fuel to the fire. Because not many are even aware of these
documents, letting people know about a truth that can be hard for people
to accept, let alone ponder the possibility is very important. It’s
just one aspect of the veil that’s been blinding the masses for quite
some time now.
The latest whistleblower is David Steele, a 20-year Marine Corps intelligence officer, and the second-highest-ranking civilian in the U.S. Marine Corps Intelligence. He is a former CIA clandestine services case officer, and this is what he had to say
Read More @ ZenGardner.com
Apart from documents that have outlined supposed terrorist threats,
like Al-Qaeda, and their connection to US intelligence agencies, like
the CIA, there are a number of whistleblowers that have come out adding
more fuel to the fire. Because not many are even aware of these
documents, letting people know about a truth that can be hard for people
to accept, let alone ponder the possibility is very important. It’s
just one aspect of the veil that’s been blinding the masses for quite
some time now.The latest whistleblower is David Steele, a 20-year Marine Corps intelligence officer, and the second-highest-ranking civilian in the U.S. Marine Corps Intelligence. He is a former CIA clandestine services case officer, and this is what he had to say
Read More @ ZenGardner.com
Before You Buy That Rothko - How The CIA Covertly Nurtured Modern Art As A Cold War "Weapon"
For decades in art circles it was either a rumour or a joke, but now it is confirmed as a fact. The Central Intelligence Agency used American modern art – including the works of such artists as Jackson Pollock, Robert Motherwell, Willem de Kooning and Mark Rothko – as a weapon in the Cold War.America's Pitiful "Choice"
We present the likely winner of the next election...
from Wolf Street:
Hard-landing gurus have been predicting an imminent end of the China
bubble for years. A “hard landing” would be the optimistic scenario. The
other scenario would be a crash-and-burn. But to their greatest
frustration, there was no hard landing, or a soft landing, or any
landing for that matter. China just kept on flying.
Fueled by an enormous credit bubble and monetary propellants, it kept adding to entire ghost cities, industrial overcapacity, and the most breath-taking infrastructure build-out the world has ever seen. Global demand for its products faded as labor got more expensive, but the 1.35 billion increasingly moneyed Chinese consumers discovered splurging on smartphones, cars, luxury goods, and a million other things. The China bubble stayed aloft, despite all the cracks appearing here and there.
Read More @ Wolfstreet.com
image/calypsotours.rs
Hard-landing gurus have been predicting an imminent end of the China
bubble for years. A “hard landing” would be the optimistic scenario. The
other scenario would be a crash-and-burn. But to their greatest
frustration, there was no hard landing, or a soft landing, or any
landing for that matter. China just kept on flying.Fueled by an enormous credit bubble and monetary propellants, it kept adding to entire ghost cities, industrial overcapacity, and the most breath-taking infrastructure build-out the world has ever seen. Global demand for its products faded as labor got more expensive, but the 1.35 billion increasingly moneyed Chinese consumers discovered splurging on smartphones, cars, luxury goods, and a million other things. The China bubble stayed aloft, despite all the cracks appearing here and there.
Read More @ Wolfstreet.com
image/calypsotours.rs
from The Money GPS:
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