Submitted by Tyler Durden on 07/24/2015 - 08:49 In a note by BofA's Michael Hartnett, the bank looks at the latest EPFR fund flows and concludes that the wave of commodity "capitulation" revulsion selling has finally arrived.
by Michael Snyder, The Economic Collapse Blog:
If you are looking for a “canary in a coal mine” type of warning for
the entire global economy, you have a whole bunch to pick from right
now. “Dr. Copper” just hit a six year low, Morgan Stanley is warning
that this could be the worst oil price crash in 45 years,
the Chinese economy is suddenly stalling out, and world trade is
falling at the fastest pace that we have seen since the last financial
crisis. In order not to see all of the signs that are pointing toward a
global economic slowdown, you would have to be willingly blind. In
recent months, I have been writing article after article
detailing how the exact same patterns that happened just before the
stock market crash of 2008 are playing out once again. We are watching a
slow-motion train wreck unfold right before our eyes, and things are
only going to get worse from here.
Read More…
If you are looking for a “canary in a coal mine” type of warning for
the entire global economy, you have a whole bunch to pick from right
now. “Dr. Copper” just hit a six year low, Morgan Stanley is warning
that this could be the worst oil price crash in 45 years,
the Chinese economy is suddenly stalling out, and world trade is
falling at the fastest pace that we have seen since the last financial
crisis. In order not to see all of the signs that are pointing toward a
global economic slowdown, you would have to be willingly blind. In
recent months, I have been writing article after article
detailing how the exact same patterns that happened just before the
stock market crash of 2008 are playing out once again. We are watching a
slow-motion train wreck unfold right before our eyes, and things are
only going to get worse from here.Read More…
A Tale Of Two Nasdaq Extremes: Amazon Up 17%, Biogen Down 17%
Submitted by Tyler Durden on 07/24/2015 - 09:47 While Amazon is up 17%, the Nasdaq party is being spoiled by the 17% collapse in Biogen following its aggressive guidance cut. As we noted previously, Biogen is the 4th most profitable biotech company and this 'scare' is weighing heavy on Janet Yellen's favorite short industry as the entire Biotech index is sliding.Troika Returns To A Conquered Greece Amid Anger, Security Threats
Submitted by Tyler Durden on 07/24/2015 - 09:26 "The letter has been sent." Greece formally invites the troika back to Athens sparking anger, resentment among a conquered people.
30Y Yield Tumbles To 2-Month Lows, Gold Bounces After Double-Flash-Crash
Submitted by Tyler Durden on 07/24/2015 - 09:07 Despite the glad-handing over Amazon's results, the rest of the world appears less than impressed with the state of the status quo. Bond yields continue to plummet with 30Y yields at 2.95% - its lowest since the start of June. Gold saw a double-flash-crash overnight but is bouncing back for now - back above the key $1080 level. The Dow and S&P have given up gains and are back in the red and even Nasdaq is fading fast as Biogen and Amazon battle it out to affect the index...
by John Rubino, Dollar Collapse:
The Great Recession and its aftermath was actually the best of times
for countries with natural resources to sell. The US, Europe and Japan
ran record deficits and cut interest rates to zero or thereabouts,
sending hot money pouring into mining and energy projects around the
world, while China borrowed (as it turned out) $15 trillion for an epic
infrastructure build-out.
The result was robust demand and high prices for raw materials like copper, oil and iron ore, and a tsunami of cash pouring into Brazil, Canada, Australia and the other resource producers. Conventional wisdom deemed these countries to be well-run and destined for ever-greater things, which led locals to borrow US dollars at cheap rates and invest in mines, factories and/or domestic government bonds with much higher yields. Good times and fat margins all around.
Read More @ DollarCollapse.com
The Great Recession and its aftermath was actually the best of times
for countries with natural resources to sell. The US, Europe and Japan
ran record deficits and cut interest rates to zero or thereabouts,
sending hot money pouring into mining and energy projects around the
world, while China borrowed (as it turned out) $15 trillion for an epic
infrastructure build-out.The result was robust demand and high prices for raw materials like copper, oil and iron ore, and a tsunami of cash pouring into Brazil, Canada, Australia and the other resource producers. Conventional wisdom deemed these countries to be well-run and destined for ever-greater things, which led locals to borrow US dollars at cheap rates and invest in mines, factories and/or domestic government bonds with much higher yields. Good times and fat margins all around.
Read More @ DollarCollapse.com
The DARK Act, making mandatory GMO labeling ‘illegal,’ has passed the
House. It must now be voted on by the Senate, which is the last hope for
defeating the bill.Statewide GMO labeling has been ruled ‘illegal’ as Congress decides to pass the notorious ‘DARK Act,’ which puts a halt to all mandatory GMO labeling initiatives around the United States.
I’ve been warning you about this secretive bill (officially titled the ‘Safe and Accurate Food Labeling Act’) since its inception, which I believe could go down in history as one of the largest attacks on the food supply in recent history. After all, the only reason that Monsanto-backed lobbying groups are so excited about this bill is because it’s their last hope. They know that they’re losing the ideological battle when it comes to the public’s opposition to GMOs and Monsanto’s cancer-linked herbicides.
Read More @ NaturalSociety.com
Craig Hemke of the TFMetalsReport wrote an interesting article this week titled, “EPIC Silver Shortage Imminent? 3.5 M Oz of Silver “Jump the Queue” to Take JULY Delivery!”We won’t get into the fine details of what he reported here as it gets very technical… but if you are interested you can see his article.
But, to summarize, an unknown party is unexpectedly taking delivery of an unprecedented amount of physical silver this month at the Comex.
According to Hemke, “… the Comex is on pace to deliver an additional 700+ over the course of the month? At 5,000 ounces/contract, that means someone or something has ponied up about $50,000,000 in order to “jump the queue” and take immediate delivery of 3,500,000 ounces of silver this month.”
Read More @ Dollarvigilante.com
As a result of global low interest rate policies, traditional savings
vehicles, especially savings accounts, have become less and less
attractive. Since they earn practically no interest anymore, there is a
growing incentive to withdraw money from bank accounts and hoard it. In
recent months especially, another facet of financial repression is
increasingly gaining momentum: numerous (supposed) star economists,
including the likes of Paul Krugman and Larry Summers, are currently
overtly propagating the opinion that too much is being saved and not
enough is being invested. In order to compensate for this imbalance,
interest rates should be pushed into negative territory. According to
Keynesian logic, this will supposedly boost consumption and provide
urgently needed stimulus to the economy.Ronald-Peter Stoferle Continues @ KingWorldNews.com
by Tony Elliott, Freedom Outpost:
It looks like John McCain’s remarks about Donald Trump supporters being crazies has backfired on him big time. Now McCain’s life is being dissected piece by piece, beginning with his war record, outbursts of angry insanity, to his overall anti-American tenure as Senator of Arizona.
Seemingly, McCain has always been a traitor to his country, beginning with his stint in Viet Nam, where he was accused by many fellow soldiers of collaborating with the enemy while being held a POW in N. Viet Nam.
Colonel Ted Guy, McCain’s commander during his time as a POW was preparing a case of treason against McCain shortly before President Richard M. Nixon signed a blanket pardon for all returning prisoners of war. Thus, McCain escaped all prospects of prosecution.
Read More @ FreedomOutpost.com
President Obama Visits Family In Kenya, Despite Leaked Schedule Security Concerns
Submitted by Tyler Durden on 07/24/2015 - 08:31 As President Obama completes the re-fueling ahead of the second leg aboard Air Force One on his way to Kenya to visit extended family (and we are sure to do some America-related business), concerns over security have been dismissed after the President's schedule was leaked this week by a Kenyan airline. However, as China Daily reports, Susan Rice, the National Security Adviser said that Obama will not visit his family's ancestral village of Kogelo due to "time and logistical reasons."
Add Junk Bonds To The Growing Pile Of Concerns
Submitted by Tyler Durden on 07/24/2015 - 08:11 Because of their credit issues, these bonds often trade more closely with equities than they do with base interest rates. Occasionally, however, junk bonds and stocks will diverge with one another. Such a divergence is occurring at the moment. It is often suggested that when the bond and stock markets diverge, the bonds typically prove to be correct, i.e., the stock market usually ends up going the way of the bonds. Is there evidence to back that up? According to our research there is, and with junk bond yields at s-x month highs while the S&P is within 1% of record highs, for stock bulls, that isn’t necessarily good news.
In Latest Market Rigging Scandal, Wall Street Now Sued For Treasury Market Manipulation
Submitted by Tyler Durden on 07/24/2015 - 07:48 "Defendants used electronic chatrooms, instant messaging, and other electronic and telephonic methods to exchange confidential customer information, coordinate trading strategies. Traders at some of these primary dealers talked with counterparts at other banks via online chatrooms and swapped gossip."
Commodity Clobbering Continues As Amazon Lifts Futures
Submitted by Tyler Durden on 07/24/2015 - 06:59 After yesterday's latest drop in stocks driven by "old economy" companies such as CAT, which sent the Dow Jones back to red for the year and the S&P fractionally unchanged, today has been a glaring example of the "new" vs "old" economy contrast, with futures propped up thanks to strong tech company earnings after the close, chief among which Amazon, which gained $40 billion in after hours trading and has now surpassed Walmart as the largest US retailer. As a result Brent crude is little changed near 2-wk low after disappointing Chinese manufacturing data fueled demand concerns, adding to bearish sentiment in an oversupplied mkt. WTI up ~26c, trimming losses after yday falling to lowest since March 31 to close in bear mkt. Both Brent and WTI are set for 4th consecutive week of declines; this is the longest losing streak for Brent since Jan., for WTI since March.
World Trade Slumps By Most Since Financial Crisis
Submitted by Tyler Durden on 07/23/2015 - 22:45 As goes the world, so goes America (according to 30 years of historical data), and so when world trade volumes drop over 2% (the biggest drop since 2009) in the last six months to the weakest since June 2014, the "US recession imminent" canary in the coalmine is drawing her last breath...
Liberty Movement Needs More Innovations To Counter Technological Tyranny
Submitted by Tyler Durden on 07/23/2015 - 22:25 The great lesson from history that each consecutive generations seems to forget is that the tools of tyranny used outward will inevitably be turned inward. That is to say, the laws and weapons governments devise for supposed enemies abroad will ALWAYS and eventually be used against the people they are mandated to protect. There is no centralized system so trustworthy, no political establishment so free of corruption that the blind faith of the citizenry is warranted. If free people do not remain vigilant they will be made slaves by their own leadership. This is the rule, not the exception, and it applies to America as much as any other society.Right...remember they just bought another 25 TONS of Gold...
by Ambrose Evans-Pritchard, The Telegraph:
Russia has fallen into full-blown depression and faces a mounting
fiscal crisis as oil and gas revenues plummet. Output from country’s
state-owned gas giant Gazprom has
collapsed by 19pc over the past year as demand shrivels in Europe,
falling to levels not seen since the creation of the company at the end
of the Cold War.
A report by Sberbank warned that Gazprom’s revenues are likely to drop by almost a third to $106bn this year from $146bn in 2014, seriously eroding Russia’s economic base.
Gazprom alone generates a tenth of Russian GDP and a fifth of all budget revenues. It will be several years at best before the country benefits from a new pipeline deal with China.
Read More @ Telegraph.co.uk
Russia has fallen into full-blown depression and faces a mounting
fiscal crisis as oil and gas revenues plummet. Output from country’s
state-owned gas giant Gazprom has
collapsed by 19pc over the past year as demand shrivels in Europe,
falling to levels not seen since the creation of the company at the end
of the Cold War.A report by Sberbank warned that Gazprom’s revenues are likely to drop by almost a third to $106bn this year from $146bn in 2014, seriously eroding Russia’s economic base.
Gazprom alone generates a tenth of Russian GDP and a fifth of all budget revenues. It will be several years at best before the country benefits from a new pipeline deal with China.
Read More @ Telegraph.co.uk
from WhyGoldandSilver:
by Pam Martens and Russ Martens, Wall Street on Parade:
From the looks of JPMorgan’s share price, one would think the financial
world is bathing in a sea of tranquility rather than experiencing
crashing commodity prices, tremors in the Eurozone, Canada acknowledging
two quarters of contraction, ruptures in China’s stock markets, and
energy and mining junk bonds losing 20 to 30 percent in a month.
JPMorgan’s share price hit an all-time closing high of $70.08 yesterday. The scary thing is, JPMorgan’s stock had a run from $32 to $42 just one month before Lehman Brothers blew up in 2008, marking the beginning of the biggest financial crash since the Great Depression; and there had been a year of financial warnings prior to that. (So much for global bank share prices being a bellwether on global financial stability.) Once the 2008 crash was clearly underway, JPMorgan shareholders saw 70 percent of their share price evaporate in a six-month stretch ending in March 2009.
JPMorgan is not some folksy community bank in New England with no counterparty exposure to other global banks or debt-ridden corporations. JPMorgan Chase is a global bank with over $2 trillion in assets “serving corporations and individuals in over 100 countries,” according to its web site.
Read More @ WallStreetonParade.com
From the looks of JPMorgan’s share price, one would think the financial
world is bathing in a sea of tranquility rather than experiencing
crashing commodity prices, tremors in the Eurozone, Canada acknowledging
two quarters of contraction, ruptures in China’s stock markets, and
energy and mining junk bonds losing 20 to 30 percent in a month.JPMorgan’s share price hit an all-time closing high of $70.08 yesterday. The scary thing is, JPMorgan’s stock had a run from $32 to $42 just one month before Lehman Brothers blew up in 2008, marking the beginning of the biggest financial crash since the Great Depression; and there had been a year of financial warnings prior to that. (So much for global bank share prices being a bellwether on global financial stability.) Once the 2008 crash was clearly underway, JPMorgan shareholders saw 70 percent of their share price evaporate in a six-month stretch ending in March 2009.
JPMorgan is not some folksy community bank in New England with no counterparty exposure to other global banks or debt-ridden corporations. JPMorgan Chase is a global bank with over $2 trillion in assets “serving corporations and individuals in over 100 countries,” according to its web site.
Read More @ WallStreetonParade.com
from X22 Report:
by Patrick Goodenough, CNSnews:
President Obama on Thursday pledged to use his last 18 months in office
to work on gun control, calling it “the one area where I feel that I’ve
been most frustrated and most stymied.”
“If you ask me where has been the one area where I feel that I’ve been most frustrated and most stymied, it is the fact that the United States of America is the one advanced nation on earth in which we do not have sufficient, common-sense gun safety laws – even in the face of repeated mass killings,” he told the BBC in an interview.
“And if you look at the number of Americans killed since 9/11 by terrorism, it’s less than 100. If you look at the number that have been killed by gun violence, it’s in the tens of thousands,” Obama continued. “For us not to be able to resolve that issue has been something that is distressing, but it is not something that I intend to stop working on in the remaining 18 months.”
Read More @ CNSnews.com
President Obama on Thursday pledged to use his last 18 months in office
to work on gun control, calling it “the one area where I feel that I’ve
been most frustrated and most stymied.”“If you ask me where has been the one area where I feel that I’ve been most frustrated and most stymied, it is the fact that the United States of America is the one advanced nation on earth in which we do not have sufficient, common-sense gun safety laws – even in the face of repeated mass killings,” he told the BBC in an interview.
“And if you look at the number of Americans killed since 9/11 by terrorism, it’s less than 100. If you look at the number that have been killed by gun violence, it’s in the tens of thousands,” Obama continued. “For us not to be able to resolve that issue has been something that is distressing, but it is not something that I intend to stop working on in the remaining 18 months.”
Read More @ CNSnews.com
filed under (unt
by Kurt Nimmo, Infowars:
Following the charade during the Netroots Nation 2015 Presidential Town
Hall held at the Phoenix Convention Center where candidates Martin
O’Malley and Bernie Sanders were shouted down by Black Lives Matter
activists, top Democrat Hillary Clinton has vowed to take up the mantle of race and social justice.
“We all have a responsibility to face these hard truths about race and justice honestly and directly,” Clinton told a crowd of 400 supports at Brookland Baptist Church in West Columbia, South Carolina on Thursday.
“We have worked hard to come back from the Great Recession,” Clinton said. “With President Obama’s leadership and the determination of the American people, we are standing. But we need to start running together.” Clinton apparently learned a lesson from the experience of former Maryland Gov. Martin O’Malley who said during the Netroots shoutfest that “all lives matter.”
Read More @ Infowars.com
Following the charade during the Netroots Nation 2015 Presidential Town
Hall held at the Phoenix Convention Center where candidates Martin
O’Malley and Bernie Sanders were shouted down by Black Lives Matter
activists, top Democrat Hillary Clinton has vowed to take up the mantle of race and social justice.
“We all have a responsibility to face these hard truths about race and justice honestly and directly,” Clinton told a crowd of 400 supports at Brookland Baptist Church in West Columbia, South Carolina on Thursday.
“We have worked hard to come back from the Great Recession,” Clinton said. “With President Obama’s leadership and the determination of the American people, we are standing. But we need to start running together.” Clinton apparently learned a lesson from the experience of former Maryland Gov. Martin O’Malley who said during the Netroots shoutfest that “all lives matter.”
Read More @ Infowars.com
by Graham Summers, GoldSeek:
More and more institutions are trying to make it harder for you to move your money into cash.
Globally, over $5 trillion in debt currently have negative yields in nominal terms, meaning the bond literally has a negative yield when it trades. In the simplest of terms this means that investors are PAYING to own these bonds.
Bonds are not unique in this regard. Switzerland, Denmark and other countries are now charging deposits at their banks. In France and Italy, you are not allowed to make cash transactions above €1,000.
Read More @ GoldSeek.com
More and more institutions are trying to make it harder for you to move your money into cash.Globally, over $5 trillion in debt currently have negative yields in nominal terms, meaning the bond literally has a negative yield when it trades. In the simplest of terms this means that investors are PAYING to own these bonds.
Bonds are not unique in this regard. Switzerland, Denmark and other countries are now charging deposits at their banks. In France and Italy, you are not allowed to make cash transactions above €1,000.
Read More @ GoldSeek.com
by Dave Kranzler, Investment Research Dynamics:
There’s a new bubble in town. It’s anti-gold propaganda. I prefer to reference it as “anti-gold terrorism.” It’s to the point at which it’s become silly – outright preposterous. This Orwellian-derived antagonism toward gold reached its apex – at least I so thought – with the “gold is a pet rock” article in the Wall Street Journal: Let’s Be Honest About Gold: It’s A Pet Rock.
The article and analysis – or poor excuse for “analysis” contained therein reads like the work of a drunk five-year old. Shame on Jason Zweig for attaching his name to it. He can no longer be taken seriously in any regard as a journalist. Shame on the Wall Street Journal for publishing that fermented piece of scatology. If Jackson Pollack had produced a painting using fecal matter which lampooned the anti-gold terrorism coming from the media, that’s what it would have looked like.
Read More @ InvestmentResearchDynamics.com
image: biography.com
There’s a new bubble in town. It’s anti-gold propaganda. I prefer to reference it as “anti-gold terrorism.” It’s to the point at which it’s become silly – outright preposterous. This Orwellian-derived antagonism toward gold reached its apex – at least I so thought – with the “gold is a pet rock” article in the Wall Street Journal: Let’s Be Honest About Gold: It’s A Pet Rock.
The article and analysis – or poor excuse for “analysis” contained therein reads like the work of a drunk five-year old. Shame on Jason Zweig for attaching his name to it. He can no longer be taken seriously in any regard as a journalist. Shame on the Wall Street Journal for publishing that fermented piece of scatology. If Jackson Pollack had produced a painting using fecal matter which lampooned the anti-gold terrorism coming from the media, that’s what it would have looked like.
Read More @ InvestmentResearchDynamics.com
image: biography.com
by J. D. Heyes, Natural News:
When Bill Gates, along with Paul Allen, began a little tech venture
called “Microsoft” in a garage in 1975, he couldn’t possibly have
imagined that the company would grow into the largest personal computer
company and most widely used PC operating system on the planet.
Or make him the richest man in the known galaxy.
But all of that happened, of course, and for the last two decades Gates, through his Bill and Melinda Gates Foundation, have been involved in socially engineering the world to be a place they want to mold in an image they have devised.
In recent months Gates has taken his vision a step further, with the development of computer chip technology that will essentially serve as one element of his quest for population control and reduction.
Read More @ NaturalNews.com
When Bill Gates, along with Paul Allen, began a little tech venture
called “Microsoft” in a garage in 1975, he couldn’t possibly have
imagined that the company would grow into the largest personal computer
company and most widely used PC operating system on the planet.Or make him the richest man in the known galaxy.
But all of that happened, of course, and for the last two decades Gates, through his Bill and Melinda Gates Foundation, have been involved in socially engineering the world to be a place they want to mold in an image they have devised.
In recent months Gates has taken his vision a step further, with the development of computer chip technology that will essentially serve as one element of his quest for population control and reduction.
Read More @ NaturalNews.com
from Off Grid Survival:
The order will ban anyone whose monthly disability payments are
handled by a third party, similar to what the Obama administration has
done to Veterans who can’t handle their own financial affairs.
In 2013, the Obama administration began targeting returning vets who the U.S. Department of Veterans Affairs (VA) deemed unable to manage their own benefits. As part of this program, vets who were appointed a fiduciary to manage their VA benefits – because of being diagnosed with things like post-traumatic stress disorder, brain injuries that affect memory, and other cognitive disorders – could have their firearms seized and their right to own a gun taken away.
Read More @ OffGridSurvival.com
The order will ban anyone whose monthly disability payments are
handled by a third party, similar to what the Obama administration has
done to Veterans who can’t handle their own financial affairs.In 2013, the Obama administration began targeting returning vets who the U.S. Department of Veterans Affairs (VA) deemed unable to manage their own benefits. As part of this program, vets who were appointed a fiduciary to manage their VA benefits – because of being diagnosed with things like post-traumatic stress disorder, brain injuries that affect memory, and other cognitive disorders – could have their firearms seized and their right to own a gun taken away.
Read More @ OffGridSurvival.com
from TheMoneyGPS:
from Silver Doctors:
The Coinage Act of 1965 debased the coinage of silver from the dimes
and quarter dollars and diminished the silver content of the half dollar
from 90% to 40% before it, too, lost all of its silver content about 5
years later. The US government claimed the reason for the act was coin
shortages caused by the increase in the price of silver. The Act also
forbade the mintage silver dollars for five years.
The demonetization of the silver came just over two year after US President John F. Kennedy delegated authority to the Secretary of the Treasury to issue silver certificates. In his book Crossfire, Jim Marrs posits that Kennedy created silver certificates to undermine the power of the Federal Reserve, though others say that Kennedy’s decision was merely a matter of convenience during a time of transition away from silver certificates. Here are parts of the speech by Lyndon B Johnson announcing the change:
Read More @ SilverDoctors.com
The Coinage Act of 1965 debased the coinage of silver from the dimes
and quarter dollars and diminished the silver content of the half dollar
from 90% to 40% before it, too, lost all of its silver content about 5
years later. The US government claimed the reason for the act was coin
shortages caused by the increase in the price of silver. The Act also
forbade the mintage silver dollars for five years.The demonetization of the silver came just over two year after US President John F. Kennedy delegated authority to the Secretary of the Treasury to issue silver certificates. In his book Crossfire, Jim Marrs posits that Kennedy created silver certificates to undermine the power of the Federal Reserve, though others say that Kennedy’s decision was merely a matter of convenience during a time of transition away from silver certificates. Here are parts of the speech by Lyndon B Johnson announcing the change:
Read More @ SilverDoctors.com
from Bill Still:
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