from WeAreChange:
Why Government Hates Cash
Submitted by Tyler Durden on 08/24/2015 - 20:10 The reason given by our rulers for suppressing cash is to keep society safe from terrorists, tax evaders, money launderers, drug cartels, and other villains real or imagined. The actual aim of the ?ood of laws restricting or even prohibiting the use of cash is to force the public to make payments through the financial system. This enables governments to expand their ability to spy on and keep track of their citizens’ most private financial dealings, in order to milk their citizens of every last dollar of tax payments that they claim are due.
After the psychopathic bankers spent 6 months pumping-up a bubble in China’s stock markets — with lightning speed — and then taking it down in equally dramatic manner (complete with their Chicken Little, end-of-the-world hype), we now see U.S. markets having taken a sharp dip, bordering on the C-word that the bubble-pumpers hate to use: “correction”.
Not surprisingly, we now see several Alternative Media commentators saying “this is it”, and the Next Crash that we all knew was coming is here, today. The Next Crash in 2016
There are two important points to make, as we see this inevitable event coming (there is no more PROFIT to be made by pumping the bubbles higher):
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Coming To America? China Censors Bad Market Talk Amid Meltdown
Submitted by Tyler Durden on 08/24/2015 - 19:40 Back in July, when it started to become clear that a succession of declarations, directives, policy rate cuts, and even threats weren’t going to be enough to alleviate the pressure on Chinese equities, Beijing looked to take back the narrative by banning the use of certain undesirable phrases. On Black Monday, they were at it again."Black Monday" Brings Global Market Rout, Investors Mourn The Death Of Central Bank Omnipotence
Submitted by Tyler Durden on 08/24/2015 - 16:07
UPDATE 8/24 – DOW loses another 1,000 points at opening, still ongoing. Markets in serious correction right now. Review your 401k and other investments. Consider gold and silver as a possible investment.
http://globalcurrencyreset.net/buy-go…
by Andy Hoffman, MilesFranklin:
Back in April 2000, whilst still working at Salomon Smith Barney as an
oilfield service and drilling analyst, I sold my last internet stock –
Caprock Communications; which, aside from the Precious Metal miners I
held from 2002-2011, turned out to be the last stock I’ve ever owned. At
the time, I was too “green” to fully understand the state of the global
economy and markets; and frankly, it wasn’t until Alan Greenspan turned
on the monetary spigots in January 2001 – taking the Fed Funds rate
from 6.5% to 1.0%, where it was held from June 2003 through July 2004 –
that I realized something was terribly wrong. When I sold Caprock on
that fateful day in early 2000, I turned violently negative on stocks;
but simply because I felt they were wildly overvalued, which of course
they were. By the time 9/11 occurred a year later, the dollar had
already started falling from its all-time high; and less than a year
later, in May 2002, I went “all-in” the Precious Metals sector.
Although, at the time, it was 100% in the form of mining stocks. People
had laughed at, and shunned me for being “bearish” from 2000 through
2002; and didn’t even listen when I told them that gold and silver –
then trading at $300/oz and $6/oz, respectively – were heavily
undervalued.
As the post-tech wreck era passed, and markets recovered care of Greenspan’s psychotic monetary gambit, I became more and more fearful that the simple stock market overvaluation I worried about in prior years was just the tip of the iceberg. More worrisome was the dollar’s perceived “overvaluation” – given the massive debts America was building up, and the significant damage a rising dollar would cause on what was already a dying manufacturing sector.
Read More
Back in April 2000, whilst still working at Salomon Smith Barney as an
oilfield service and drilling analyst, I sold my last internet stock –
Caprock Communications; which, aside from the Precious Metal miners I
held from 2002-2011, turned out to be the last stock I’ve ever owned. At
the time, I was too “green” to fully understand the state of the global
economy and markets; and frankly, it wasn’t until Alan Greenspan turned
on the monetary spigots in January 2001 – taking the Fed Funds rate
from 6.5% to 1.0%, where it was held from June 2003 through July 2004 –
that I realized something was terribly wrong. When I sold Caprock on
that fateful day in early 2000, I turned violently negative on stocks;
but simply because I felt they were wildly overvalued, which of course
they were. By the time 9/11 occurred a year later, the dollar had
already started falling from its all-time high; and less than a year
later, in May 2002, I went “all-in” the Precious Metals sector.
Although, at the time, it was 100% in the form of mining stocks. People
had laughed at, and shunned me for being “bearish” from 2000 through
2002; and didn’t even listen when I told them that gold and silver –
then trading at $300/oz and $6/oz, respectively – were heavily
undervalued.As the post-tech wreck era passed, and markets recovered care of Greenspan’s psychotic monetary gambit, I became more and more fearful that the simple stock market overvaluation I worried about in prior years was just the tip of the iceberg. More worrisome was the dollar’s perceived “overvaluation” – given the massive debts America was building up, and the significant damage a rising dollar would cause on what was already a dying manufacturing sector.
Read More
In Less Than 10 Years, The Federal Reserve Has Driven Millions Of American Women Into Prostitution
Submitted by Tyler Durden on 08/24/2015 - 19:08 It's a case of economic policy run amuck. Real estate development can boost the economy, under the right conditions: lots of jobs and economic activity get generated when homes are built or refurbished. And there is the wealth effect when home prices rise. But when taken to extremes - as it is today and was in the previous economic cycle consumer spending gets squeezed out in order to pay mortgages and rent. It becomes an incredibly unproductive use of capital. Simply put, we have a surge in college-age prostitution and it's the Fed's fault. It gives new meaning to the term "perverse monetary policies"
Guest Post: Is Trump Worse Than Hitler?
Submitted by Tyler Durden on 08/24/2015 - 18:40 The trouble is that it’s not inconceivable Trump could get elected. Farfetched, perhaps, but not out of the question. The USA is heading for a very rough patch of history — as those of you with your eyes on the stock indexes lately may suspect. The country stands an excellent chance of waking up some morning soon to discover it is broke and broken. When that happens, all the anxiety and animus will be focused on looking for scapegoats, and they are likely to be the wrong ones. World leaders considered Hitler a clown in the early going, too, you know.
Forget Rate Hikes: Bridgewater Says QE4 Is Next; Warns World Is Approaching End Of Debt Supercycle
Submitted by Tyler Durden on 08/24/2015 - 15:18 "That's where we find ourselves now—i.e., interest rates around the world are at or near 0%, spreads are relatively narrow (because asset prices have been pushed up) and debt levels are high. As a result, the ability of central banks to ease is limited, at a time when the risks are more on the downside than the upside and most people have a dangerous long bias. Said differently, the risks of the world being at or near the end of its long-term debt cycle are significant.... We Believe That the Next Big Fed Move Will Be to Ease (Via QE) Rather Than to Tighten"
Marc Faber: The Global Economy Is Entering An Epic Slump
Submitted by Tyler Durden on 08/24/2015 - 17:40 "I do not believe that the global economy is healing. I believe that the global economy is heading into a slump once again... It's not a pretty picture. All those people who say they will buy... I wonder if they still have money?"
"They're Getting Away With Murder": Trump Blasts "Paper-Pushing Hedge Fund Guys" On Taxes
Submitted by Tyler Durden on 08/24/2015 - 17:11 "The hedge fund guys didn't build this country. These are guys that shift paper around and they get lucky. They are energetic. They are very smart. But a lot of them - they are paper-pushers. They make a fortune. They pay no tax. It's ridiculous, ok?"
Peter Schiff Warns "The Fed Is Spooking The Markets, Not China"
Submitted by Tyler Durden on 08/24/2015 - 16:35 The correction may soon morph into a full-fledged bear market if the Fed makes good on its supposed intentions to raise interest rates this year. Have no illusions, while most market observers are quick to blame the sell-off on China, this market was given life by the Fed, and the Fed is the only force that will keep it alive. Unfortunately for the Fed, it won't be able to get away with doing nothing for too much longer. Events may soon force it to show its hand. Then perhaps some may notice that the Fed is holding absolutely nothing and has been bluffing the entire time.
Behold: Insanity
Submitted by Tyler Durden on 08/24/2015 - 16:11 This is not normal... Dow futures moved over 4,500 points intraday today!!!
A Message To US Investors From China (& Your Broker)
Submitted by Tyler Durden on 08/24/2015 - 15:55 It's been quite a day for your average high net worth investor in US equities... so here are two messages from the most important people in the world - China and their broker...
The Volatility Of Volatility Has Never (Ever) Been Higher
Submitted by Tyler Durden on 08/24/2015 - 15:35 As the cost of insuring equity market risk (VIX) spiked higher this morning (having been broken for minutes after the open), catching up to the cost of insuring credit market risk (CDX HY) which has been screaming dead canaries for weeks, a funny thing happened to the volatility of volatility. VVIX (the estimate of the uncertainty of the cost of insuring equity risk) exploded to a level never seen before - as various ETF/hedging strategies imploded - a level twice as high as during the Lehman crisis...
Rolling A Wheelbarrow Of Dynamite Into A Crowd Of Fire Jugglers
Submitted by Tyler Durden on 08/24/2015 - 15:15 By starving investors of safe return, activist Fed policy has promoted repeated valuation bubbles, and inevitable collapses, in risky assets. On the basis of valuation measures having the strongest correlation with actual subsequent market returns, we fully expect the S&P 500 to decline by 40-55% over the completion of the current market cycle. The only uncertainty has been the triggers.
One Millennial's Letter To CNBC
Submitted by Tyler Durden on 08/24/2015 - 15:03 My advice to my generation if they would like to buy various assets is to just literally say to yourself, "Don't think about the price or what other people are paying. Just ask: 'What would I pay for 1 share of XYZ, knowing it has an artificial edifice around it?'" Then take a swing while flying blind and pray you hit it.But until that is no longer the case, count me out. Me and my entire generation.
Return To Junk Status "Only A Matter Of Time" For Latin America's Most Important Economy: Barclays
Submitted by Tyler Durden on 08/24/2015 - 19:26 "We conclude that, under current circumstances, it is only a matter of time until Brazil loses its investment grade status."Did The Bank Of England Just Admit Financial Markets Aren't "Real"?
Submitted by Tyler Durden on 08/24/2015 - 14:36
by SGT, SGT Report.com:
It’s Black Monday, August 24, 2015: Andy Hoffman from Miles Franklin joins us to recap the 1,000+ plummet in the DOW at the market open and the “sheer horror” of what is to come.
Andy breaks it down in this way, “There is nothing ‘flash crash’ about this morning, this is called an overwhelming supply of sell orders at the open as people are terrified for their financial lives as they should be. Because this is just the beginning. Unless they hyperinflate it (the stock market) which is very possible, look what’s going on in Venezuela, we are going to revisit the 2008-2009 lows without a question. So this is not “flash crashing”, this is terrified panic as it should be.”
Meanwhile John Williams from Shadowstats is out with the latest CPI inflation adjusted numbers for silver – and the 1980 inflation adjusted all time high for silver is now $601 per ounce. Got PHYSICAL?
It’s Black Monday, August 24, 2015: Andy Hoffman from Miles Franklin joins us to recap the 1,000+ plummet in the DOW at the market open and the “sheer horror” of what is to come.
Andy breaks it down in this way, “There is nothing ‘flash crash’ about this morning, this is called an overwhelming supply of sell orders at the open as people are terrified for their financial lives as they should be. Because this is just the beginning. Unless they hyperinflate it (the stock market) which is very possible, look what’s going on in Venezuela, we are going to revisit the 2008-2009 lows without a question. So this is not “flash crashing”, this is terrified panic as it should be.”
Meanwhile John Williams from Shadowstats is out with the latest CPI inflation adjusted numbers for silver – and the 1980 inflation adjusted all time high for silver is now $601 per ounce. Got PHYSICAL?
Folks, the panic is spreading, and fast. This is the moment you and I
have prepared for, for years. It’s finally here. The controllers are no
longer able to convince folks of the ‘recovery’ story, with massaged,
fluffy jobs numbers, or double-speak about a rosy stock market. Indeed,
all that work of propping up markets with endless buying &
propaganda seems to be fracturing good and hard.Last week kicked off the global equity bloodbath on a colossal scale. Over the weekend, everyone held their breath, wondering just how bad things would be, and whether Beijing would be willing(or even able) to hold the Shenzen stock exchange line, at the 3,500 level. Sadly, it didn’t take long for them to find out. Within mere seconds after the market opened, they got their answer(as this image from “China Xinhau News” vividly demonstrates)…
Read More
For the past 15 – 40 years, debt and most markets have moved upward in
exponential trends. Examine the following log-scale graphs.Debt: The US official national debt is shown on a log scale. Debt goes up and up with no end in sight!
S&P 500 Index: Note the exponential trend line in blue, and the “danger zone” lines in red. Given points 1 and 2, point 3 indicates that now is NOT the time for complacency. Read: 15 Warning Signs of A Market Top.
Crude Oil: Conventional wisdom suggests that crude oil prices will remain low for a very long time – due to weak demand, strong supply, fracking, economic contraction, wind, solar etc. Perhaps, but I’m not convinced.
Read More
by Andrew Hoffman, Miles Franklin:
from Dollar Collapse:
For those who keep hearing about hedge funds but aren’t quite sure
what they are: Think mutual fund with no rules. A hedge fund is an
investment company that can do pretty much anything, from shorting
currencies to betting on biotech takeovers to writing credit default
swaps.
This kind of freedom, as you can imagine, requires a fair degree of creativity, if not genius, on the part of fund managers. And therein lies the problem. As the concept has gotten popular the number of hedge funds and the money they manage have soared. There are now 11,000 of them running about $3 trillion.
Read More
For those who keep hearing about hedge funds but aren’t quite sure
what they are: Think mutual fund with no rules. A hedge fund is an
investment company that can do pretty much anything, from shorting
currencies to betting on biotech takeovers to writing credit default
swaps.This kind of freedom, as you can imagine, requires a fair degree of creativity, if not genius, on the part of fund managers. And therein lies the problem. As the concept has gotten popular the number of hedge funds and the money they manage have soared. There are now 11,000 of them running about $3 trillion.
Read More
from Paul Craig Roberts:
Are we witnessing the corruption of central banks? Are we observing the
money-creating powers of central banks being used to drive up prices in
the stock market for the benefit of the mega-rich?
These questions came to mind when we learned that the central bank of Switzerland, the Swiss National Bank, purchased 3,300,000 shares of Apple stock in the first quarter of this year, adding 500,000 shares in the second quarter. Smart money would have been selling, not buying.
It turns out that the Swiss central bank, in addition to its Apple stock, holds very large equity positions, ranging from $250,000,000 to $637,000,000, in numerous US corporations — Exxon Mobil, Microsoft, Google, Johnson & Johnson, General Electric, Procter & Gamble, Verizon, AT&T, Pfizer, Chevron, Merck, Facebook, Pepsico, Coca Cola, Disney, Valeant, IBM, Gilead, Amazon.
Read More
Are we witnessing the corruption of central banks? Are we observing the
money-creating powers of central banks being used to drive up prices in
the stock market for the benefit of the mega-rich?These questions came to mind when we learned that the central bank of Switzerland, the Swiss National Bank, purchased 3,300,000 shares of Apple stock in the first quarter of this year, adding 500,000 shares in the second quarter. Smart money would have been selling, not buying.
It turns out that the Swiss central bank, in addition to its Apple stock, holds very large equity positions, ranging from $250,000,000 to $637,000,000, in numerous US corporations — Exxon Mobil, Microsoft, Google, Johnson & Johnson, General Electric, Procter & Gamble, Verizon, AT&T, Pfizer, Chevron, Merck, Facebook, Pepsico, Coca Cola, Disney, Valeant, IBM, Gilead, Amazon.
Read More
from TruthNeverTold:
by Taki, Secular Investor:
The four major U.S. stock market indices finally corrected after a
9-month sideways trend. The ‘big’ news this week for stocks was
undoubtedly that the four indices all closed below their 200-day moving
average, which IS an important breakdown.
At Secular Investor, we believe the TED-spread is one of the most reliable indicators of stress in the financial system. It should be considered a ‘seismograph’ signaling that something is brewing, as explained some time ago here.
The TED-spread has ‘broken out’ this week, after a steady rise for a year and a half. It now has the highest reading since ‘QE infinity’ started at the end of 2012.
Read More
The four major U.S. stock market indices finally corrected after a
9-month sideways trend. The ‘big’ news this week for stocks was
undoubtedly that the four indices all closed below their 200-day moving
average, which IS an important breakdown.At Secular Investor, we believe the TED-spread is one of the most reliable indicators of stress in the financial system. It should be considered a ‘seismograph’ signaling that something is brewing, as explained some time ago here.
The TED-spread has ‘broken out’ this week, after a steady rise for a year and a half. It now has the highest reading since ‘QE infinity’ started at the end of 2012.
Read More
by Mike Adams, Natural News:
To anyone who still doesn’t believe the world’s largest nations are already engaged in a global covert war involving kinetic weapons, currencies and cyber warfare, add this event to your list of things to ponder:
Less than one day after another massive explosion destroyed a portion of Shandong, China, another explosion has ripped through a U.S. Army munitions storage facility near Tokyo, Japan, utterly destroying the facility.
This all takes place just ten days after the apocalyptic explosion at Tianjin China, which many people believe was instigated by the Pentagon in response to China’s currency devaluation announced one day earlier.
Read More
To anyone who still doesn’t believe the world’s largest nations are already engaged in a global covert war involving kinetic weapons, currencies and cyber warfare, add this event to your list of things to ponder:Less than one day after another massive explosion destroyed a portion of Shandong, China, another explosion has ripped through a U.S. Army munitions storage facility near Tokyo, Japan, utterly destroying the facility.
This all takes place just ten days after the apocalyptic explosion at Tianjin China, which many people believe was instigated by the Pentagon in response to China’s currency devaluation announced one day earlier.
Read More
from TheMoneyGPS:
from The Burning Platform:
Driving home from work on Friday night I found it terribly amusing
listening to the “business journalists” on the local news station trying
to explain the 531 point plunge in the Dow and the 1,105 point plummet
from the Tuesday high. The job of these faux journalist mouthpieces for
the status quo is not to report the facts, analyze the true factors
underlying the market, or seek the truth. Their job is to calm the
masses, keep them sedated, and paint the rosiest picture possible.
The brainless twit who reported the stock market bloodbath immediately went into the mode of counteracting the impact of what was happening.
Read More
Driving home from work on Friday night I found it terribly amusing
listening to the “business journalists” on the local news station trying
to explain the 531 point plunge in the Dow and the 1,105 point plummet
from the Tuesday high. The job of these faux journalist mouthpieces for
the status quo is not to report the facts, analyze the true factors
underlying the market, or seek the truth. Their job is to calm the
masses, keep them sedated, and paint the rosiest picture possible.The brainless twit who reported the stock market bloodbath immediately went into the mode of counteracting the impact of what was happening.
Read More
The Ghost Of 1997 Beckons, Can Asia Escape? Morgan Stanley, BofA Weigh In
Submitted by Tyler Durden on 08/24/2015 - 18:10 The similarities between the current crisis and that which unfolded in 1997/98 were so readily apparent that many analysts began to draw comparisons and that may have added fuel to fire over the past week. Now, there seems to be a concerted effort to calm the market by explaining that while there are similarities, there are also differences. And while some of the world's imperiled EM economies may be in better shape to defend themselves this time around, when attempting to cope with a meltdown it may be more important to look at where things are similar and on that note, here’s some color from Morgan Stanley and BofAML.
Many have mistakenly dismissed silver as just another commodity like
oil, for example. If one looks at how silver has traded since 2001, in
comparison with oil, one might agree with that mistaken believe. Below
is a comparison of silver and oil since 2001 (charts from
stockcharts.com):During the same periods, both goods traded higher or lower, together. For example, from 2001 to 2008, both silver and oil rose significantly. During those seven years, silver increased more than four times in value while oil rose more than seven times.
Based on the above chart-comparison, some might even argue that it is silver that is more overvalued than oil since it is trading at greater than triple its 2001 value, whereas oil is only trading at double its 2001 value.
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