My Dear Extended Family,Friday’s action closed horribly in the U.S. with the Dow losing 530 for the day. This broke away from the support level of 17,200-17,300 which will now become overhead resistance. Global equity markets around the world are in crash mode as more than a dozen are already down 30-50% while the U.S. has just eclipsed the 10% correction zone. My guess is we will see a very weak opening with one or several rally attempts. An exhaustion bottom can be expected in the first half of the week with nervous strength later in the week. This scenario I believe is our best case.
No matter how the week plays out, the credit bubble has been identified, recognized and “pricked”, the equity markets are only a symptom. Do not be fooled by any strength this coming week, it should be used to raise cash. As September moves in, the September-October timeframe looks like a disaster. What may start out as circuit breakers being hit now, will ultimately be the plugs yanked out over the next couple of months. I believe a market closure is in our near term future.
Read More
Did The Bank Of England Just Admit Financial Markets Aren't "Real"?
Submitted by Tyler Durden on 08/24/2015 - 14:36
Ron Insana: "I Only Manage A Virtual Portfolio Which I Took To Cash Last Thursday"
Submitted by Tyler Durden on 08/24/2015 - 14:12 Once upon a time, Ron Insana tried running a fund of funds. He failed. Then he tried working at SAC. That didn't work out either. Then, he decided to write scathing opeds in the Huffpo bashing "doomsayers." Four years later, the Fed is terrified to hike rates by 25 bps from zero while in the meantime all other central banks have joined the Fed in a global, liquidity-injecting tsunami, confirming the doomsayers were right all along. So what is ole Ron, who once upon a time used to work at CNBC up to these days? Why "managing a virtual portfolio" it would appear... which he "took to cash last Thursday."filed under (unt
Joe "Ridin' With" Biden Gears Up For White House Run
Submitted by Tyler Durden on 08/24/2015 - 14:11 At a certain point, we suppose Joe Biden took a look at the state of the 2016 race for The White House and thought: "why not me?"
Deutsche Bank's 10 Reasons Why The Market Is Going Lower
Submitted by Tyler Durden on 08/24/2015 - 13:25 Blink and you missed it. With stocks surging back to green and CNBC celebrating, one could be forgiven (were on a goldfish) for believing everything is truly awesome again. However, as Deutsche Bank details, there are ten good reasons why this is far from over...
The "Fear And Greed" Index Is Almost At 0
Submitted by Tyler Durden on 08/24/2015 - 13:04 If the Fed was hoping to get the retail investor back and buying in the market to allow the hedge funds, institutions and private clients who are all selling at unprecedented levels it may have to come up with a different strategy than today's flash crash rerun.
by Dave Hodges, The Common Sense Show:
I cannot recall writing an article which has caused me so much
consternation than this one. Last night as my family was returning from
dining out near the beginning of twilight, I saw a gigantic cloud
stretching endlessly upward and spreading out. It looked just like a
mushroom cloud, the kind you would see following a nuclear explosion.
Was this an ominous sign, or was this simply a case of personal
projection of where my mind is presently at? I may never really know the
answer for certain, however, this moment in time is reflective of where
I believe the world is at in the present moment.
Read More
I cannot recall writing an article which has caused me so much
consternation than this one. Last night as my family was returning from
dining out near the beginning of twilight, I saw a gigantic cloud
stretching endlessly upward and spreading out. It looked just like a
mushroom cloud, the kind you would see following a nuclear explosion.
Was this an ominous sign, or was this simply a case of personal
projection of where my mind is presently at? I may never really know the
answer for certain, however, this moment in time is reflective of where
I believe the world is at in the present moment.Read More
from RT:
from KingWorldNews:
With China’s stock market crash accelerating, now down 8.5% as panic
in global markets escalates, today King World News is pleased to feature
a piece from one of the greats in the business discussing the panic in
global stock markets and what to expect from here.
Global Stock Shock!
Jason Goepfert at SentimenTrader: “Stocks have suffered a shock in the past few days, with the largest loss in several years and more than nine months of gains erased after having recently been sitting near record highs … The activity on Friday was so “shocking” that it triggered a number of rare extremes….
Read More
With China’s stock market crash accelerating, now down 8.5% as panic
in global markets escalates, today King World News is pleased to feature
a piece from one of the greats in the business discussing the panic in
global stock markets and what to expect from here.Global Stock Shock!
Jason Goepfert at SentimenTrader: “Stocks have suffered a shock in the past few days, with the largest loss in several years and more than nine months of gains erased after having recently been sitting near record highs … The activity on Friday was so “shocking” that it triggered a number of rare extremes….
Read More
from Zero Hedge:
During the flash crash of May 6, 2010, the 1000 plunge in the Dow Jones seems historic, unprecedented and surely unrepeatable – after all the regulators had “learned their lesson” and would never allow a move like this ever again, right? Wrong.
During the flash crash of May 6, 2010, the 1000 plunge in the Dow Jones seems historic, unprecedented and surely unrepeatable – after all the regulators had “learned their lesson” and would never allow a move like this ever again, right? Wrong.
by Daisy Luther, The Organic Prepper:
Last week, our stock market began to freefall. By Friday, August 21, the market was down more than 1300 points. Over the course of two days, it dropped further than any single-day crash in American history.
But it wasn’t just the US stock market that had a bad week. According to Zero Hedge, markets across the globe are going to heck on a greased slide:
Last week, our stock market began to freefall. By Friday, August 21, the market was down more than 1300 points. Over the course of two days, it dropped further than any single-day crash in American history.
But it wasn’t just the US stock market that had a bad week. According to Zero Hedge, markets across the globe are going to heck on a greased slide:
- China’s worst week since July – closes at 5 month lows
- Global Stocks’ worst week since May 2012
- US Stocks’ worst week in 4 years
- VIX’s biggest weekly rise ever
- Crude’s longest losing streak in 29 years
- Gold’s best week since January
- 5Y TSY Yield’s biggest absolute drop in 2 years
from TheAlexJonesChannel:
from The Sleuth Journal:
In the 21st century “speaking truth to power is a criminal act”. That is Thomas A. Drake‘s general understanding of what whistleblowers must expect when denouncing government unconstitutional power grab.
Mr. Drake has joined former federal attorney Thomas Tamm, William Binney, Edward Snowden, and several former public and private employees who despite having all odds against them, decided to make public information that directly proved how the United States government, in combination with its allies, violated every single universal and constitutional right at home and abroad.
Read MoreAnd some ask why I named the Blog We The Sheeplez...
from Mark Dice:
by South Front, Global Research:
Financial penalties expected to hit British banks for Forex rigging will do little to tackle financial crime in the City of London as regulators continue to prioritize high finance over ordinary citizens, experts warn.
British banks could be fined billions in coming months as investors pursue them for rigging foreign exchange (Forex) rates, following a landmark US settlement on Friday.
RBS, Barclays, HSBC and Goldman Sachs were among nine global banks that agreed to the £1.3 billion (US$2 billion) settlement with irate investors who had been affected by the market manipulation.
Read More…
Financial penalties expected to hit British banks for Forex rigging will do little to tackle financial crime in the City of London as regulators continue to prioritize high finance over ordinary citizens, experts warn.
British banks could be fined billions in coming months as investors pursue them for rigging foreign exchange (Forex) rates, following a landmark US settlement on Friday.
RBS, Barclays, HSBC and Goldman Sachs were among nine global banks that agreed to the £1.3 billion (US$2 billion) settlement with irate investors who had been affected by the market manipulation.
Read More…
The global deflationary wave we have been tracking since last fall is
picking up steam. This is the natural and unavoidable aftereffect of a
global liquidity bubble brought to you courtesy of the world’s main
central banks. What goes up must come down — and that’s especially true
for the world’s many poorly-constructed financial bubbles, built out of
nothing more than gauzy narratives and inflated with hopium.What this means is that the traditional summer lull in financial markets has turned August into an unusually active and interesting month. August, it appears, is the new October.
Read More
from Western Journalism:
When Republican presidential candidate Donald Trump called accused
deserter Bowe Bergdahl “a dirty, rotten traitor,” a New Hampshire
audience cheered its approval. The cheers redoubled when Trump did a
brief pantomime of firing a rifle, as in a firing squad, while saying,
“You know, in the old days… bing, bong. When we were strong.”
Trump’s actions brought a volley of protests from the White House and Eugene Fidell, Bergdahl’s defense attorney.
A tweet attributed to a White House official read: “Trump comment on Bowe Bergdahl ‘Crossed the Line.’”
Read More
When Republican presidential candidate Donald Trump called accused
deserter Bowe Bergdahl “a dirty, rotten traitor,” a New Hampshire
audience cheered its approval. The cheers redoubled when Trump did a
brief pantomime of firing a rifle, as in a firing squad, while saying,
“You know, in the old days… bing, bong. When we were strong.”Trump’s actions brought a volley of protests from the White House and Eugene Fidell, Bergdahl’s defense attorney.
A tweet attributed to a White House official read: “Trump comment on Bowe Bergdahl ‘Crossed the Line.’”
Read More
from Nation of Change:
Four former Shelby County Corrections Deputies pled guilty on Thursday
to attempting to smuggle and distribute OxyContin inside a correctional
facility. An undercover investigation was initiated after inmates
informed law enforcement officers of the deputies’ illicit activities.
Posing as inmates and drug dealers, undercover agents from the Tarnished Badge Task Force conducted three drug deals with each deputy before arresting the corrupt cops.
After receiving tips from inmates at Shelby County Jail, which contains nearly 3,000 prisoners in Memphis, Tennessee, law enforcement agents with the Tarnished Badge Task Force began investigating allegations of corrections deputies smuggling drugs into the jail. Comprised of the FBI, Shelby County Sheriff’s Department, and Memphis Police Department, the Tarnished Badge Task Force sent undercover agents into the jail posing as inmates. Cooperating prisoners introduced the undercover agents to the corrupt guards who agreed to smuggle OxyContin pills into the jail after accepting bribes from the undercover agents.
Read More
Four former Shelby County Corrections Deputies pled guilty on Thursday
to attempting to smuggle and distribute OxyContin inside a correctional
facility. An undercover investigation was initiated after inmates
informed law enforcement officers of the deputies’ illicit activities.
Posing as inmates and drug dealers, undercover agents from the Tarnished Badge Task Force conducted three drug deals with each deputy before arresting the corrupt cops.After receiving tips from inmates at Shelby County Jail, which contains nearly 3,000 prisoners in Memphis, Tennessee, law enforcement agents with the Tarnished Badge Task Force began investigating allegations of corrections deputies smuggling drugs into the jail. Comprised of the FBI, Shelby County Sheriff’s Department, and Memphis Police Department, the Tarnished Badge Task Force sent undercover agents into the jail posing as inmates. Cooperating prisoners introduced the undercover agents to the corrupt guards who agreed to smuggle OxyContin pills into the jail after accepting bribes from the undercover agents.
Read More
If you think this could Never Happen to you...Your not paying attention...
from Raw Story:
In video captured by a bystander, a woman screamed “He wasn’t f*cking
armed! You killed my husband” as Maryland State Police subdued her
following an officer-involved shooting that left a 30-year-old man dead
in a Walmart parking lot Friday night.
The Cecil Daily reports that Charles S. Hall was shot and killed by Trooper Daryl K. Brackett, a three-year veteran of the force who claimed he recognized Hall and knew there was a warrant out for his arrest.
According to State Police spokesperson Greg Shipley, Brackett attempted to arrest Hall but Hall allegedly resisted and fought with the trooper before getting into his vehicle and attempting to take off.
Read More
In video captured by a bystander, a woman screamed “He wasn’t f*cking
armed! You killed my husband” as Maryland State Police subdued her
following an officer-involved shooting that left a 30-year-old man dead
in a Walmart parking lot Friday night.The Cecil Daily reports that Charles S. Hall was shot and killed by Trooper Daryl K. Brackett, a three-year veteran of the force who claimed he recognized Hall and knew there was a warrant out for his arrest.
According to State Police spokesperson Greg Shipley, Brackett attempted to arrest Hall but Hall allegedly resisted and fought with the trooper before getting into his vehicle and attempting to take off.
Read More
from TruthNeverTold:
from Wolf Street:
The Brazilian economy has been hit hard by the drop in oil and China’s
slowdown. But the next shoe to drop is one I’ve been warning about for a
while. Brazil has $160 billion in US dollar denominated bonds. If bank
loans are included, the total is $300 billion in US denominated debt.
China’s weakness has caused the Brazilian Real to fall against the US dollar, making this debt more expensive to service with a Real-denominated income stream.
This has led to stress in credit markets where the credit default swaps on Brazilian debt have jumped to 330 basis points (the price of to insure against default). Brazil is my primary concern right now, and I will be following it closely.
Read More
The Brazilian economy has been hit hard by the drop in oil and China’s
slowdown. But the next shoe to drop is one I’ve been warning about for a
while. Brazil has $160 billion in US dollar denominated bonds. If bank
loans are included, the total is $300 billion in US denominated debt.China’s weakness has caused the Brazilian Real to fall against the US dollar, making this debt more expensive to service with a Real-denominated income stream.
This has led to stress in credit markets where the credit default swaps on Brazilian debt have jumped to 330 basis points (the price of to insure against default). Brazil is my primary concern right now, and I will be following it closely.
Read More
by The Common Constitutionalist, Freedom Outpost:
Yesterday, I wrote an article regarding Donald Trump’s immigration platform, or, more to the point, how to prevent illegal immigration and what to do with the ones who are already here. You may review it here.
In it, I referenced The Donald’s now infamous retort to Chuck Todd, who claimed that, by deported all illegals, Trump would be breaking up families and attempting to deport people with birthright citizenship. I quoted Trump telling Todd that he would keep the families together, “but they have to go.” I can’t remember a time when one statement has caused so much angst.
Read More
Yesterday, I wrote an article regarding Donald Trump’s immigration platform, or, more to the point, how to prevent illegal immigration and what to do with the ones who are already here. You may review it here.
In it, I referenced The Donald’s now infamous retort to Chuck Todd, who claimed that, by deported all illegals, Trump would be breaking up families and attempting to deport people with birthright citizenship. I quoted Trump telling Todd that he would keep the families together, “but they have to go.” I can’t remember a time when one statement has caused so much angst.
Read More
from USA Watchdog:
Top trends researcher Gerald Celente has recently predicted a market crash between now and the end of the year.
It looks like that prediction is unfolding now, and Celente contends, “It’s very simple. You have a global slowdown, and this is after central banks have pumped in trillions of dollars, yen, yuan, euros and you name it to propping it up. We are in unprecedented territory. This has never happened before in the history of the world. . . . Even the Wall Street Journal came out last week with a front page story and said the Fed used up all its ammunition. They have nothing left to do because they have record low interest rates, but I disagree with them. I believe they will come out with another round of quantitative easing (QE or money printing). They will do anything they can. It looks pretty sure they are not going to raise interest rates in September. . . . What is going to create jobs? The jobs they are creating stink. Here’s a number for you. Medium household income is 6% below where it was in 1990. Look at the new home buyers. In good times, first time buyers are usually around 40%. It is down to 28%. Look at the amount of people who own homes. It’s back to 1960 levels. Look at the labor force participation rate. It is back to late 1970’s levels. There is no recovery. It’s been a cover-up.”
Read More
Top trends researcher Gerald Celente has recently predicted a market crash between now and the end of the year.
It looks like that prediction is unfolding now, and Celente contends, “It’s very simple. You have a global slowdown, and this is after central banks have pumped in trillions of dollars, yen, yuan, euros and you name it to propping it up. We are in unprecedented territory. This has never happened before in the history of the world. . . . Even the Wall Street Journal came out last week with a front page story and said the Fed used up all its ammunition. They have nothing left to do because they have record low interest rates, but I disagree with them. I believe they will come out with another round of quantitative easing (QE or money printing). They will do anything they can. It looks pretty sure they are not going to raise interest rates in September. . . . What is going to create jobs? The jobs they are creating stink. Here’s a number for you. Medium household income is 6% below where it was in 1990. Look at the new home buyers. In good times, first time buyers are usually around 40%. It is down to 28%. Look at the amount of people who own homes. It’s back to 1960 levels. Look at the labor force participation rate. It is back to late 1970’s levels. There is no recovery. It’s been a cover-up.”
Read More
from Bullish Money:
Critical lessons from 1937 that apply to the present Dow Jones Death Cross collapse. While often overlooked as a historical barometer in favor of paradigm shattering events like Black Tuesday of 1929, the year of 1937 most closely aligns with what we are experiencing in the Dow Jones today.
Critical lessons from 1937 that apply to the present Dow Jones Death Cross collapse. While often overlooked as a historical barometer in favor of paradigm shattering events like Black Tuesday of 1929, the year of 1937 most closely aligns with what we are experiencing in the Dow Jones today.
from KingWorldNews:
Gold is the ultimate anti-Federal Reserve item. The Fed cannot create
inflation by producing more gold, nor can the Fed create deflation by
reducing the quantity of gold. The Fed hates gold because it cannot
control it. Gold represents pure wealth.
Warren Buffett hates gold because he is in the business of compounding. And since gold throws off no interest or dividends, it is not possible to build wealth through compounding with gold.
Turning to the markets, I’m wondering whether the Chinese crash will put a top on the price of many collectible assets such as art and real estate. It looks like China is setting the way for the global economy.
Read More
Gold is the ultimate anti-Federal Reserve item. The Fed cannot create
inflation by producing more gold, nor can the Fed create deflation by
reducing the quantity of gold. The Fed hates gold because it cannot
control it. Gold represents pure wealth.Warren Buffett hates gold because he is in the business of compounding. And since gold throws off no interest or dividends, it is not possible to build wealth through compounding with gold.
Turning to the markets, I’m wondering whether the Chinese crash will put a top on the price of many collectible assets such as art and real estate. It looks like China is setting the way for the global economy.
Read More
by Christina Sarich, Natural Society:
University
of Nebraska-Lincoln researchers Karrie Weber and Jason Nolan have
tested 275,000 water samples collected from 62,000 locations across the
US, and what they’ve found will be shocking to some.The samples were taken primarily from two large aquifers, which supply drinking water to millions of people. When you look at the results and compare them to the commentary offered by artists of our time – such as the song ‘Radioactive’ by Imagine Dragons – you can understand why we need a revolution.
Read More
A second, massive explosion has now been recorded in Shandong province,
China, just ten days after the Tianjin explosion that killed over 120
people. The Tianjin explosion took place just one day after China
devalued its currency by 1.9%, sending financial shock waves across the
United States.Natural News carried the exclusive report of Chinese dissidents saying they believed the Tianjin explosion was an act of war committed by the Pentagon, intended as a “warning shot” against China for engaged in “currency wars” against America.
Read More
by SGT, SGT Report.com:
Friends, as you know by now, Bill Holter and many others are predicting significant market turmoil this week. As the global economic dominoes begin to fall in earnest, all eyes are on China where tonight the SSE composite is down more than 8%.
Who knows what’s ahead for the much over-stretched US markets, but as our last guest Wayne Allyn Root noted “It’s all going to implode, I don’t know when, no one does, could be tomorrow, could be five years from now but in the end it’s going to implode and it’s going to be bad.”
We hope all of you have heeded the warnings here at SGT Report as we have been documenting the collapse. It’s shaping up to be a very interesting week. Buckle up and God Bless.
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