JPMorgan: "Nothing Appears To Be Breaking" But "Something Happened"

Submitted by Tyler Durden on 08/30/2015 - 20:14
"Something happened  The August turbulence in global markets has produced significant shifts, including a 6.6% fall in equity prices. The currencies of emerging market countries have depreciated substantially against the G-4, while emerging market borrowing rates for sovereigns and corporates have moved higher. Global oil prices have been whipsawed as have G-4 bond yields. The speed and magnitude of these movements is reminiscent of past episodes in which financial crises emerged or the global economy slipped into recession. However, nothing appears to be breaking."

Black(er) Monday Looms: Dow Futures Down 220 After J-Hole Speeches & China Fold

Submitted by Tyler Durden on 08/30/2015 - 18:45 It appears a combination of Stan Fischer's 'September is still on the table' hawkishness (among others at Jackson Hole) and the "promise" once again that China will not intervene in the stock market anymore has taken all the exuberance out of last week's epic short squeeze in US stocks. Dow futures have given all of Friday's manipulation back and are trading back near Thursday's JPM panic lows - down 220 from Friday's close.

Do You Feel Lucky?

Submitted by Tyler Durden on 08/30/2015 - 19:50 Chinese (Mis)Fortune Cookie...

The One Thing People Must Know About This Horrific Worldwide Panic

from KingWorldNews:
TAfter one of the wildest weeks of trading in the history of global markets, today one of the top economists in the world sent King World News an incredibly powerful piece discussing the horrific worldwide panic and the one thing that people must know about it.
“I don’t throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought.” — Gordon Gekko (Wall Street)
One Thing People Must Know About This Horrific Worldwide Panic
As the Fed nears its proposed first rate hike in nine years the stock market is becoming frantic. The Dow Jones Industrial Average is down around 10 percent on the year, as markets realize that our central bank may be raising interest rates into a worldwide deflationary collapse….
Read More…

Polish Government Confirms Discovery Of Nazi "Gold Train", Warns It May Be Booby-Trapped

Submitted by Tyler Durden on 08/30/2015 - 16:14 While many were skeptical that the mystical Nazi treasure train had been finally discovered after many years of searching, an official update last Friday by the Polish government suggested that that may indeed be the case. As the Mail reported on Friday, a representative of the Polish culture ministry, Poland’s National Heritage and Conservation Officer Piotr Zuchowski, said that the man who helped hide the train had revealed its location shortly before he died, and that proof of the train has been observed on radar. Mr Zuchowski told reporters that the train was about 100 metres long but added: 'It is not possible to disclose the exact location of where the train can be found. 

Illinois Pays Lottery Winners In IOUs After $30K/Month Budget "Guru" Fails To Produce Deal

Submitted by Tyler Durden on 08/30/2015 - 20:24 "You know what's funny? If we owed the state money, they'd come take it and they don't care whether we have a roof over our head. Our budget wouldn't be a factor. You can't say (to the state), 'Can you wait until I get my budget under control?'"

Monsanto Kicked Out of Greece and Latvia: GM Bans Sweep Through Europe

by Christina Sarich, Natural Society:
First Scotland and Germany booted GMOs from their countries, citing fear of GMO crops contaminating their food supplies and concern over putting their food and beverage industries in jeopardy. Now, Greece and Latvia are telling Monsanto exactly what they can do with their genetically modified crops. The tide is turning. A tipping point just became evident through the actions of two additional European countries who have had enough of the Biotech strong arm.
Latvia and Greece have opted out of GMOs, as are Germany and Scotland, as part of the new allowances indicated in legislation that recently passed for EU countries.
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Sanders Surges As 1 Million Fake Hillary Followers Exposed

Submitted by Tyler Durden on 08/30/2015 - 14:50 "This feels like 2008 all over again," as NPR reports the latest Iowa Poll showed Sanders just 7 points behind Hillary Clinton, who leads 37 to 30 percent among likely Democratic caucus-goers. Why 2008? As NPR notes, that's when a heavily favored Clinton stumbled and lost to Barack Obama, then a young senator whose middle name, Hussein, was the same as a dictator the U.S. had just overthrown and whose last name rhymed with America's Public Enemy No. 1. And while the socialist septuagenarian continues to surge, Hillary faces yet another 'issue', as Yahoo Tech reports, 1 million (or one third) of her 'apparent' Twitter followers are fake.

Polish Government Confirms Discovery Of Nazi "Gold Train", Warns It May Be Booby-Trapped

Submitted by Tyler Durden on 08/30/2015 - 16:14 While many were skeptical that the mystical Nazi treasure train had been finally discovered after many years of searching, an official update last Friday by the Polish government suggested that that may indeed be the case. As the Mail reported on Friday, a representative of the Polish culture ministry, Poland’s National Heritage and Conservation Officer Piotr Zuchowski, said that the man who helped hide the train had revealed its location shortly before he died, and that proof of the train has been observed on radar. Mr Zuchowski told reporters that the train was about 100 metres long but added: 'It is not possible to disclose the exact location of where the train can be found. 

Policy Confusion Reigns As China Caps Muni Debt, Uncaps Bank Debt, And Bad Loans Soar

Submitted by Tyler Durden on 08/30/2015 - 19:14 In the latest example of Beijing attempting to deleverage and re-leverage all at once, China has lifted a cap on loan-to-deposit ratios for banks while simultaneously capping local government debt issuance for 2015. Meanwhile, bad loans are still on the rise at China's "big four" banks, underscoring the extent to which China's economy is rapidly deteriorating and drawing a line under the risk the PBoC is running by forcing banks to lend into an extraordinarily uncertain environment.

Manipulation = Fragility

Submitted by Tyler Durden on 08/30/2015 - 18:30 In markets distorted by permanent manipulation the most powerful incentive is to borrow as much money as you can and leverage it as much as you can to maximize your gains in risk-on asset bubbles. However, a core dynamic is laying waste to global financial markets: the greater the level of central bank/government manipulation, the greater the systemic fragility.

Jackson Hole Post-Mortem: "Door Still Fully Open To September Lift Off"

Submitted by Tyler Durden on 08/30/2015 - 18:25 Curious why the S&P futures have opened down some 0.6%, wiping out the entire late-Friday ramp? The reason is that as SocGen summarizes it best, following the Jackson Hole weekend, we now know that despite Bill Dudley' platitudes "the door is still fully open to Fed liftoff in September."

A Very Unexpected Statement From A Central Banker: "We Are Merely Reacting To A Situation We Did Not Create"

Submitted by Tyler Durden on 08/30/2015 - 17:44 "Sometimes the criticism directed at our policies implicitly attributes responsibility for the low interest-rate environment to central bank policies. But the truth is precisely the opposite: central banks are simply reacting to and trying to correct a situation that they did not create."
- ECB vice president Vittor Constancio

Did The Fed Intentionally Spark A Commodity Sell-off?

Submitted by Tyler Durden on 08/30/2015 - 17:00 ...one theory is that some within the Fed realized that QE wasn’t working, and never worked, thus another path was needed. But what alternative did they have, since rates were already ZERO? So maybe they changed course and took a strong dollar policy vs. a weak one to intentionally weaken the commodity sector and thus boost consumer spending. Throughout this down turn, that message has been repeated by Yellen herself many times, as a source of economic stimulus and for sure has been repeated over and over in the media and the talking heads of Wall Street.

Leveraged Financial Speculation In The US At A Familiar Peak, Once Again

Submitted by Tyler Durden on 08/30/2015 - 15:30 Like a dog returns to its vomit, the Fed's speculative bubble policy enables the one percent to once again feast on the carcass of the real economy. 'And no one could have ever seen it coming.' Once is an accident. Twice is no coincidence. Remind yourself what has changed since then. Banks have gotten bigger. Schemes and fraud continue. What will the third time be like? And the fourth?

The End Of "The Permanent Lie" Looms Large

Submitted by Tyler Durden on 08/30/2015 - 15:05 For the moment, to paraphrase Alexander Solzhenitsyn, the “permanent lie [has become] the only safe form of existence”.
But the world cannot postpone, indefinitely, dealing decisively with the economic, resource management, social and political challenges we face.

Austrian Economics Is Now Equivalent To Terrorism Thanks To Latest Islamic State "Gold Standard" Propaganda Clip

Submitted by Tyler Durden on 08/30/2015 - 14:16 What better way to mute demands for a return to sound money and the gold standard, than by making them equivalent to jihadist terrorism? Why, there are none, which may explain the hilarious appearance of the "Islamic State's" latest 55-minutes pro gold standard YouTube clip, which is nothing but a crash course in Austrian economics.

Since 2014 Foreign Central Banks Have Withdrawn 246 Tons Of Gold From The NY Fed

Submitted by Tyler Durden on 08/30/2015 - 14:14 During the last crisis period, starting in March 2007 and lasting through November 2008, foreign central banks withdrew gold for a total of 20 out of 21 consecutive months, repatriating a grand total of 409 tons of gold. The last period of peak redemption culminated with the failure of Lehman in September 2008, the near failure of AIG in October and November 2008, coupled with the Fed's bailout of the western financial system. If past is prologue, one should ask: what current or future event is driving the ongoing redemption of 246 tons of gold (and rising) from the NY Fed this time?

The Week That Laid The Experts Bare

Submitted by Tyler Durden on 08/30/2015 - 13:40 The week that passed has left many of the so-called “smart crowd” flummoxed, disheveled, dismayed, and disrobed from their expensive facades of “expert insightful analysis.” It seems all that “expert” as well as “insight” wasn’t all it was made out to be. In less than a week: historic records weren’t only broken – they were smashed to smithereens. And the one’s that were the most historic? They weren’t set for positive things.

$7.1 Trillion In Global Sovereign Wealth Fund Assets: The Infographic

Submitted by Tyler Durden on 08/30/2015 - 13:04 "The first three months of 2015 only saw a marginal increase in SWF assets in the headwind of falling oil prices. TheCityUK expects that SWFs’ assets will increase by 4% in 2015 to $7.4 trillion, well below the 12% average annual growth seen over the previous five years. Flows into some funds could turn negative. Growth in SWFs’ assets is closely related to the price of oil, as around 60% of SWFs’ assets originate from commodity exports."


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Bill Clinton Tried To Give Paid Speeches To North Korea & Congo While Hillary Was Secretary Of State

“I did not have financial relations with that dictator.”

Armed Man Defends 6 People, Including Baby, During Home Invasion – 1 Bad Guy Dead

by Tim Brown, Freedom Outpost:

Six people are safe, including a one-month old baby, after an armed man protected them from two thugs who broke into an apartment, attempting to rob the residents.
The Star-Telegram reports that the incident occurred about 1pm on Tuesday; and that Brad White, who was in the apartment with his girlfriend and their newborn baby, said that two suspects entered the apartment and began a scuffle with the residents. Keep in mind that the police report lists the incident as a robbery-home invasion.
Read More

Malaysia Bans The Color Yellow As Protests Swell Into The Hundreds Of Thousands

Submitted by Tyler Durden on 08/30/2015 - 11:46

NOTHING Is Safe On The Internet!

from TruthNeverTold:

New Homes Sales For July: Full Of Hype But Lacked Substance

by Dave Kranzler, Investment Research Dynamics:
As usual, the headline monthly and annual changes in new-home sales were not statistically significant…While the headline July 2015 sales level of an annualized 507,000 units (42,250 monthly rate as used in the graphs) was up versus June, it was below the levels of activity in April and May 2015, and it still was down by 63% (-63%) from the pre-recession peak for the series. With the otherwise meaningless monthly swings in these numbers smoothed out, new-home sales activity continued in a broad pattern of low-level stagnation. – John Williams, Shadowstats.com
New home sales for July missed Wall Street’s consensus guesstimate, coming in a 507k vs. 516k expected. This number is not a real number, as it is based on sketchy Census Bureau date collection methods and questionable “seasonal adjustments.” The CB then takes this cesspool and turns it into an annualized rate.
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Hospital fires leading cancer surgeon for telling the truth about medical establishment

from Natural News:
A vicious hate campaign has been waged against an internationally renowned cancer surgeon named Joseph Meirion Thomas. At first, his superiors in the medical system tried to silence him, but now they’ve resorted to firing him.
The courageous 69-year-old surgeon has been fired from the Royal Marsden Hospital in London because he started speaking the truth about the faults of the National Health Service (NHS) in the UK while questioning the quality of care that general practitioners provide.
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Superbugs Are Pretty Much Everywhere Now

from Ready Nutrition:
It seems like every few months the news comes out with another story about superbugs, and the once innocent locations that they can now be found in. After decades of overprescribing antibiotics to people and livestock, they’re starting to win the arms race against our medical system, and every time I hear about them, it seems like science has found these pathogens in a scary new place. So I thought to myself, is anyone keeping track of this? Is anyone documenting all of the places and things that these superbugs have contaminated?
I’m sure there’s a CDC database somewhere that’s keeping track of this, but I can’t seem to find a definitive list online. Fortunately, that ends today. Let’s take a look at a few of the places and things that these critters have been known to occupy.
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ESPN Is Complicit in Supporting Terrorism

by Dave Hodges, The Common Sense Show:
Earlier this week, Schilling posted (featured above) and then deleted a tweet that seemed to suggest “extremist” Muslims are as much of a threat to the world as the Nazis were during World War II. ESPN called the tweet “completely unacceptable,” and suspended Schilling from his Little League World Series on-air duty. In effect, Curt Schilling was fired for telling the truth.
In reality, the United States has reorganized its society in response to the Muslim “extremist” terrorist threat and this is a reality that ESPN has obviously chosen to ignore. In fact the United States government paid $5 million dollars to Markus Wolf to create the Department of Homeland Security which was modeled in the image of the East German Stasi of which Wolf was the leader.
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The Myth Of A Russian ‘Threat’ – Pepe Escobar

from The News Doctors:
Not a week goes by without the Pentagon carping about an ominous Russian “threat”.
Chairman of the Joint Chiefs of Staff Martin Dempsey entered certified Donald “known unknown” Rumsfeld territory when he recently tried to conceptualize the “threat”; “Threats are the combination, or the aggregate, of capabilities and intentions. Let me set aside for the moment, intentions, because I don’t know what Russia intends.”
So Dempsey admits he does not know what he’s talking about. What he seems to know is that Russia is a “threat” anyway — in space, cyber space, ground-based cruise missiles, submarines.
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