from Kingworldnews:
The gold war is heating up, and there is only one clear message coming
from the big takedown in the gold price early today: The US government
did not like hearing China’s announcement on Friday about its 604-tonne
increase in the official gold reserves of the Chinese central bank. The
deliberate intervention in the gold market, which happened early today
with the selling massive amounts of paper gold when physical gold began
trading in Shanghai, was meant to embarrass China because it dared to
announce an increase in its gold reserves.
The Intervention Also Had Two Other Objectives
The intervention also had two other objectives. It was meant to scare any remaining weak hands into thinking that the United States still holds all the monetary cards and can bend the price of gold to its will. It also provided an opportunity for the bullion banks to cover short positions with massive profits by creating a selling climax with huge volumes being traded as the gold price fell.
James Turk continues @ King World News
The gold war is heating up, and there is only one clear message coming
from the big takedown in the gold price early today: The US government
did not like hearing China’s announcement on Friday about its 604-tonne
increase in the official gold reserves of the Chinese central bank. The
deliberate intervention in the gold market, which happened early today
with the selling massive amounts of paper gold when physical gold began
trading in Shanghai, was meant to embarrass China because it dared to
announce an increase in its gold reserves.The Intervention Also Had Two Other Objectives
The intervention also had two other objectives. It was meant to scare any remaining weak hands into thinking that the United States still holds all the monetary cards and can bend the price of gold to its will. It also provided an opportunity for the bullion banks to cover short positions with massive profits by creating a selling climax with huge volumes being traded as the gold price fell.
James Turk continues @ King World News
Greeks Laugh As Bankers Implore Depositors Return Money - "Banks Are Trustworthy"
Submitted by Tyler Durden on 07/21/2015 - 11:25 President of Greek Banks Association Louka Katseli appealed at the citizens to return their money to the banks. “Banks are absolutely trustworthy,” Katseli told Mega TV, “Let’s all help our economy... If you take your money out of your chests and houses – which are not safe in any case – and deposit at banks, this will enhance liquidity.” Katseli’s appeal triggered laughter among Greeks with one exclaiming “Ah sure! Banks will never see my money again, I prefer to buy tonnes of peanuts with it.”
Big Brother with a big plan to impose big changes in America — changes
based on race and “reparations” — that’s what the occupant of the White
House is now shown to be as he heads toward the conclusion of his
presidency.In what could prove to be one of the largest and most far-reaching social engineering and “social justice” programs of his time in office, Barack Obama is quietly overseeing the unprecedented collection of massive amounts of personal data on individual Americans, including where and how people live and work.
An article in the New York Post entitled “Obama collecting personal data for a secret race database” reveals that the Obama administration is “prying into our most personal information…for the purpose of ‘racial and economic justice.’”
Read More @ WesternJournalism.com
Noting
that the recent tyrannical, entirely anti-American comments made by
General Wesley Clark during a MSNBC interview are statist and disturbing
would be the understatement of the century.
from Zero Hedge:
“If these people are … disloyal to the United States, as a matter of principal that’s fine, that’s their right… It’s our right and our obligation to segregate them from the normal community for the duration of the conflict.”
… Sure, he couches it in the war against ISIS (an entity created by U.S. government foreign policy), but once you make it policy to disappear people based on one particular type of thought, it will quickly spread to other undesirable political views.
SEE VIDEO @ ZeroHedge.com
from Zero Hedge:
“If these people are … disloyal to the United States, as a matter of principal that’s fine, that’s their right… It’s our right and our obligation to segregate them from the normal community for the duration of the conflict.”… Sure, he couches it in the war against ISIS (an entity created by U.S. government foreign policy), but once you make it policy to disappear people based on one particular type of thought, it will quickly spread to other undesirable political views.
SEE VIDEO @ ZeroHedge.com
Former High Ranking US Senator Wants To "Hang Edward Snowden On The Courthouse Square"
Submitted by Tyler Durden on 07/21/2015 - 10:35 "We need to hang him on the courthouse square as soon as we get a hold of him."– Former vice chairman of the Senate Select Committee on Intelligence, Saxby Chambliss, on Edward Snowden
The "Smartest Money" Used Last Week's Surge To Dump Even More Stock
Submitted by Tyler Durden on 07/21/2015 - 11:01 Moments ago we got the latest BofA client flow update in which we were expecting to find that the "smart money", flush with cash, and taking advantage of the Greek "deal" would jump in on last week's biggest weekly market surge since October 2014 when Bullard hinted at QE4 and unleashed a buying surge. To our surprise we find that not only did "smart" money continue selling, but they were joined by the "smartest" money of all, hedge funds. And who did they sell to? Why retail investors of course... and corporate buybacks but that should go without saying.
Small Caps Slammed, Nasdaq Turns Negative On Week As USDJPY Rolls Over
Submitted by Tyler Durden on 07/21/2015 - 10:48 USDJPY rolls over after the Fed revised IP lower and BoJ comments on inflation outlook, Johnny 5 decided "time's up," and stocks tumble...
Is This Why The Dollar Is Sliding?
Submitted by Tyler Durden on 07/21/2015 - 10:15 Stocks, bond yields, and the Dollar suddenly started dropping right as The Fed unveiled its revisions for industrial production and capacity utlization. Already at weak levels, both were revised notably lower, slowing the market's rate-hike expectations and stalling any hope that the recovery is gathering pace. Judging by the chart below, the June payrolls report was right: snowfall in the summar was indeed much worse than most remember.
The "Energy" Cash Flow Alarm Is Back: Chesapeake Suspends Dividends, Stock Plunges To 12 Year Low
Submitted by Tyler Durden on 07/21/2015 - 09:53 Earlier today one of Icahn's favorite energy names (you won't find him tweeting about this one much thought) Chesapeake Energy, the second-largest US natural gas producer, announced it too is now scrambling to conserve cash (in this case $240 million per year) by suspending its dividend payment.
What Happened The Last Time The Mainstream Media Unleashed The Anti-Gold Artillery
Submitted by Tyler Durden on 07/21/2015 - 09:45 With the mainstream media onslaught against precious metals climaxing this weekend as WSJ's Jason Zweig proclaimed gold "like a pet rock," describing owning gold as "an act of faith," we thought it worthwhile looking back at the last time 'everyone' was slamming gold and entirely enthused by the omnipotence of central bankers... May 4th, 1999 - "Who Needs Gold When We Have Greenspan?"
Are Tech Giants' New Buildings Signs Of The Top?
Submitted by Tyler Durden on 07/21/2015 - 09:16 If pouring billions of dollars into outrageous "look at me" buildings isn't tempting the gods, what is it?
Stunning Footage Captures Ukraine Artillery Shell Mid-Flight Moments Before Impact
Submitted by Tyler Durden on 07/21/2015 - 08:51 Unfortunately for millions of people living in east Ukraine nothing has been resolved and every new day continues to be one filled with dread and fear just where may death come from next. Nowhere is this seen better than in the following dramatic video clip released moments ago which captured a Ukraine artillery shell flying mid-air through a Donetsk residential region, just an instant before it strikes its target. The dramatic moment can be seen 1 minute 37 seconds into the clip below.
If Beauty's On The Inside, This Market Wins The Ugly Contest
Submitted by Tyler Durden on 07/21/2015 - 08:19 ... of the 6,657 days since 1965 when the S&P 500 closed up, Friday had the 6,627th worst breadth... the last 12 times this situation occurred, the S&P 500 was lower 3 weeks later each time by an average of 4%. Also of note, for what it is worth, this is the closest to a 52-week high the S&P 500 has ever been on any of the occurrences.
Japan Inc Rocked By Massive Accounting Fraud: Toshiba CEO Quits After Admitting 7 Years Of Cooked Books
Submitted by Tyler Durden on 07/21/2015 - 07:58 While Abenomics has been an unmitigated disaster for Japan's ordinary population, where the soaring stock market has benefited the top decile of the population while everyone has been slammed by a record 25 consecutive months of declining real wages and soaring input costs, there had been one bright spot: corporate earnings. Then on Friday, a report out of Reuters caught our attention when news hit that 140 year old electronics conglomerate, and "pillar of Japan Inc", Toshiba had inflated profits by a stunning $1.2 billion for a whopping 7 years, with fabricated figures amounting to 30% of the company's "profits" since 2008!
"Something Revolutionary Is In The Air": Grexit By "Insurrection" Is The "Most Probable" Outcome
Submitted by Tyler Durden on 07/21/2015 - 07:32 My own most likely Grexit scenario is a different one yet again. Donald Tusk, the president of the European Council, hinted at this in his interview with the Financial Times last week when he said that he felt "something revolutionary" in the air. He is on to something. The most probable scenario for me is Grexit through insurrection.
Is The US Shale Industry About To Run Out Of Lifelines?
Submitted by Tyler Durden on 07/21/2015 - 11:51 "Lenders in general are increasing pressure on oil companies either to raise more equity or do some sort of transaction to pay down their credit lines and free up extra cash.""There’s another redetermination cycle in the fall, And I’m not going to say likely but it’s possible we’ll be selectively downgrading some clients."
“The unacknowledged, but obvious, truth is that unnecessary work, imposed by either edict or contrived financial legerdemain, is slavery and servitude—totally irrational and immoral. Every engineer worthy of the name is trying to eliminate the need for human effort as a factor of production while every witless or hypocritical politician, pressured by the financial powers above and an insecure and uncomprehending population below, is professing, at least, to promote policies designed to ‘put people back to work.’”
Because of its deleterious impact on personal freedom and initiative, centralization of both economic and political power is the critical issue facing society. The primary obstacle to reversing this growing concentration of power is an almost universal ignorance of the manner in which the existing financial system renders the price-system increasingly non-self-liquidating, making impossible the recovery of industrial production costs through sales.
Read More @ WashingtonsBlog.com
from Peter Schiff:
by Michael Snyder, The Economic Collapse Blog:
When financial markets crash, they do not do so in a vacuum. There
are always patterns, signs and indicators that tell us that something is
about to happen. In this article, I am going to share with you four
patterns that are happening right now that also happened just prior to
the great financial crisis of 2008. These four signs are very strong
evidence that a deflationary financial collapse is right around the corner.
Instead of the hyperinflationary crisis that so many have warned about,
what we are about to experience is a collapse in asset prices, a
massive credit crunch and a brief period of absolutely crippling
deflation. The response by national governments and global central
banks to this horrific financial crisis will cause tremendous inflation
down the road, but that comes later. What comes first is a crisis that
will initially look a lot like 2008, but will ultimately prove to be
much worse. The following are 4 things that are happening right now
that indicate that a deflationary financial collapse is imminent…
Read More…
When financial markets crash, they do not do so in a vacuum. There
are always patterns, signs and indicators that tell us that something is
about to happen. In this article, I am going to share with you four
patterns that are happening right now that also happened just prior to
the great financial crisis of 2008. These four signs are very strong
evidence that a deflationary financial collapse is right around the corner.
Instead of the hyperinflationary crisis that so many have warned about,
what we are about to experience is a collapse in asset prices, a
massive credit crunch and a brief period of absolutely crippling
deflation. The response by national governments and global central
banks to this horrific financial crisis will cause tremendous inflation
down the road, but that comes later. What comes first is a crisis that
will initially look a lot like 2008, but will ultimately prove to be
much worse. The following are 4 things that are happening right now
that indicate that a deflationary financial collapse is imminent…Read More…
from Wolf Street:
For PE firms, the fracking boom was nirvana. An eternal-growth
industry. A big part of the money they poured into the scrappy oil &
gas companies is now going up in smoke. Other industries are mired in a
no-growth or shrinking environment. Chaos keeps breaking out in the
international markets, most recently over Greece and China.
So, healthcare, which accounts for nearly one-fifth of US GDP, “is really the growth opportunity,” Tom Banning, CEO of the Texas Academy of Family Physicians, told The Texas Tribune:
Read More @ Wolfstreet.com
For PE firms, the fracking boom was nirvana. An eternal-growth
industry. A big part of the money they poured into the scrappy oil &
gas companies is now going up in smoke. Other industries are mired in a
no-growth or shrinking environment. Chaos keeps breaking out in the
international markets, most recently over Greece and China.So, healthcare, which accounts for nearly one-fifth of US GDP, “is really the growth opportunity,” Tom Banning, CEO of the Texas Academy of Family Physicians, told The Texas Tribune:
Read More @ Wolfstreet.com
by Andrew Hoffman, Miles Franklin:
There’s no rest for the weary. And by weary, I don’t just mean last night’s lack of sleep – notwithstanding the prudent investment choices that have kept me from real insomnia
– but 13-plus years of fighting a war with reality I neither chose nor
relish. Yes, I love what I do – perhaps, more than ever before – and
it’s for people like you that I wake up earlier than ever, bright eyed
and bushy-tailed. But no, there is nothing “fun” about manipulated
markets, which in many ways have rendered moot 26-years of academic and
practical experience analyzing fundamentals – and subsequently, choosing
appropriate investments, for myself and others.
Here at Miles Franklin, we do not “recommend” anything, but simply tell the truth as we see it – which, manipulation or not, must eventually be reflected in financial (and physical gold and silver) markets. That said, the “short-term,” in a world amidst the most hideous, blatant episode of money printing, market manipulation, and propaganda, has turned out to be far less “short” than imagined – care of the unprecedented advancement of “weapons of mass financial destruction,” far beyond anything imagined during previous bubbles. Of course, no such “previous bubble” involved the end of the economic and monetary world as we have known it, which is precisely what we are dealing with today.
Read More @ MilesFranklin.com
There’s no rest for the weary. And by weary, I don’t just mean last night’s lack of sleep – notwithstanding the prudent investment choices that have kept me from real insomnia
– but 13-plus years of fighting a war with reality I neither chose nor
relish. Yes, I love what I do – perhaps, more than ever before – and
it’s for people like you that I wake up earlier than ever, bright eyed
and bushy-tailed. But no, there is nothing “fun” about manipulated
markets, which in many ways have rendered moot 26-years of academic and
practical experience analyzing fundamentals – and subsequently, choosing
appropriate investments, for myself and others.Here at Miles Franklin, we do not “recommend” anything, but simply tell the truth as we see it – which, manipulation or not, must eventually be reflected in financial (and physical gold and silver) markets. That said, the “short-term,” in a world amidst the most hideous, blatant episode of money printing, market manipulation, and propaganda, has turned out to be far less “short” than imagined – care of the unprecedented advancement of “weapons of mass financial destruction,” far beyond anything imagined during previous bubbles. Of course, no such “previous bubble” involved the end of the economic and monetary world as we have known it, which is precisely what we are dealing with today.
Read More @ MilesFranklin.com
from Jesse’s Café Américain:
The hit on the metals last night was obvious and heavy handed.
There were some additional antics during the day.
Silver was more robust against this, most likely because it is in an active month at The Bucket Shop.
I think the stock market has reached at least a short term apogee, and risk is grossly mispriced.
This is how it goes sometimes.
The commentary about the precious metals this afternoon on Bloomberg TV was laughable for the most part.
Read More @ Jessescrossroadscafe.blogspot.ca
The hit on the metals last night was obvious and heavy handed.
There were some additional antics during the day.
Silver was more robust against this, most likely because it is in an active month at The Bucket Shop.
I think the stock market has reached at least a short term apogee, and risk is grossly mispriced.
This is how it goes sometimes.
The commentary about the precious metals this afternoon on Bloomberg TV was laughable for the most part.
Read More @ Jessescrossroadscafe.blogspot.ca
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