Submitted by Tyler Durden on 01/16/2016 - 14:21 The Dallas Fed met with the banks a week ago and effectively suspended mark-to-market on energy debts and as a result no impairments are being written down. Furthermore, as we reported earlier this week when first nothing the rumor, the Fed indicated "under the table" that banks were to work with the energy companies on delivering without a markdown on worry that a backstop, or bail-in, was needed after reviewing loan losses would exceed the current tier 1 capital tranches.
The Great Unraveling Looms - Blame The 'Austrians'?
Submitted by Tyler Durden on 01/16/2016 - 15:00 Decades of accumulated market distortions appear to be on the brink of a great unwind, most of which can be blamed on expansionary monetary policies. If so, the banking crisis of 2008 was a prelude, rather than the crisis itself. The Keynesians will blame the Fed for a complete policy failure. The reality is, that by implementing conventional policies on the recommendation of group-thinking macroeconomists, the central banks have dug a hole too deep to escape. Recognition of the merits of Austrian sound money theory will simply expose this reality sooner than later.
Was That The Capitulation? Not Even Close
Submitted by Tyler Durden on 01/16/2016 - 13:50 Is it different this time?The Deflation Monster Has Arrived
Submitted by Tyler Durden on 01/16/2016 - 12:04
The world’s grand experiment with debt has come to an end. And it’s now unraveling.
The World’s Most Famous Case Of Hyperinflation (Part 1)
Submitted by Tyler Durden on 01/15/2016 - 21:30 The Great War ended on the 11th hour of November 11th, 1918, when the signed armistice came into effect. Though this peace would signal the end of the war, it would also help lead to a series of further destruction: this time the destruction of wealth and savings. The world’s most famous hyperinflation event, which took place in Germany from 1921 and 1924, was a financial calamity that led millions of people to have their savings erased.You were warned...
- I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
by Steve St. Angelo, SRS Rocco Report:
There have been some recent changes on the COMEX in response to the Bankers “War on Cash.” Last year, Chase Bank in the U.S. advised its clients who rent safe deposit boxes there would be some policy changes. Some of these changes had to do with the storage of cash and coins.
According to The International Man article, The End of Safe Deposit Box For Wealth Storage:
There have been some recent changes on the COMEX in response to the Bankers “War on Cash.” Last year, Chase Bank in the U.S. advised its clients who rent safe deposit boxes there would be some policy changes. Some of these changes had to do with the storage of cash and coins.
According to The International Man article, The End of Safe Deposit Box For Wealth Storage:
Of particular interest is the following condition:
Read More
by Steve St. Angelo, SRS Rocco Report:
There have been some recent changes on the COMEX in response to the Bankers “War on Cash.” Last year, Chase Bank in the U.S. advised its clients who rent safe deposit boxes there would be some policy changes. Some of these changes had to do with the storage of cash and coins.
According to The International Man article, The End of Safe Deposit Box For Wealth Storage:
There have been some recent changes on the COMEX in response to the Bankers “War on Cash.” Last year, Chase Bank in the U.S. advised its clients who rent safe deposit boxes there would be some policy changes. Some of these changes had to do with the storage of cash and coins.
According to The International Man article, The End of Safe Deposit Box For Wealth Storage:
Of particular interest is the following condition:
Read More
by Jeff Nielson, Bullion Bulls:
As I already highlighted to readers when Janet Yellen and the Fed
launched their first torpedo at this crippled economy, the U.S.
manufacturing sector had already started to completely collapse BEFORE
the Fed rate-hike. At the bottom is a report on just one of the
manufacturing indices which shows the U.S. manufacturing sector
plummeting lower.
The Fed Rate-Hike: the Torpedo is Launched
The “Empire State” index is a regional New York number. When the propagandists report that this index has shrunk for SIX CONSECUTIVE MONTHS, what they never mention is that these contractions are CUMULATIVE.
Read More
As I already highlighted to readers when Janet Yellen and the Fed
launched their first torpedo at this crippled economy, the U.S.
manufacturing sector had already started to completely collapse BEFORE
the Fed rate-hike. At the bottom is a report on just one of the
manufacturing indices which shows the U.S. manufacturing sector
plummeting lower.The Fed Rate-Hike: the Torpedo is Launched
The “Empire State” index is a regional New York number. When the propagandists report that this index has shrunk for SIX CONSECUTIVE MONTHS, what they never mention is that these contractions are CUMULATIVE.
Read More
by Michael Snyder, The Economic Collapse Blog:
Did you know that 15 trillion dollars of global stock market wealth has been wiped out since last June? The worldwide financial crisis that began in the middle of last year is starting to spin wildly out of control. On Friday, the Dow plunged another 390 points, and it is now down a total of 1,437 points since the beginning of this calendar year. Never before in U.S. history have stocks ever started a year this badly. The same thing can be said in Europe, where stocks have now officially entered bear market territory. As I discussed yesterday, the economic slowdown and financial unraveling that we are witnessing are truly global in scope. Banks are failing all over the continent, and I expect major European banks to start making some huge headlines not too long from now. And of course let us not forget about China. On Friday the Shanghai Composite declined another 3.6 percent, and overall it is now down more than 20 percent from its December high. Much of this chaos has been driven by the continuing crash of the price of oil. As I write this article, it has dipped below 30 dollars a barrel, and many of the big banks are projecting that it still has much farther to fall.
Read More…
Did you know that 15 trillion dollars of global stock market wealth has been wiped out since last June? The worldwide financial crisis that began in the middle of last year is starting to spin wildly out of control. On Friday, the Dow plunged another 390 points, and it is now down a total of 1,437 points since the beginning of this calendar year. Never before in U.S. history have stocks ever started a year this badly. The same thing can be said in Europe, where stocks have now officially entered bear market territory. As I discussed yesterday, the economic slowdown and financial unraveling that we are witnessing are truly global in scope. Banks are failing all over the continent, and I expect major European banks to start making some huge headlines not too long from now. And of course let us not forget about China. On Friday the Shanghai Composite declined another 3.6 percent, and overall it is now down more than 20 percent from its December high. Much of this chaos has been driven by the continuing crash of the price of oil. As I write this article, it has dipped below 30 dollars a barrel, and many of the big banks are projecting that it still has much farther to fall.
Read More…
Earthquake Economics - Waiting For The Inevitable "Big One"
Submitted by Tyler Durden on 01/16/2016 - 13:15 Several more slips like this one and the President’s strongest, most durable economy in the world could backslide into recession. On top of that, ‘the big one’ could rupture at any moment.
Pro-China Party Falls As Taiwan Elects First Female President In "Historic" Landslide Election
Submitted by Tyler Durden on 01/16/2016 - 12:41 "Why has public opinion changed so much? How did our party misread public opinion? We failed. The Nationalist Party lost the elections. We didn't work hard enough."
Would You Hire It: China's "Resume" Revealed
Submitted by Tyler Durden on 01/16/2016 - 11:22 After the worst two-week start to US stock trading in history, bulls need some cheering up. So here, courtesy of Citi's Brent Donnelly, is some levity: this is what China's Curriculum Vitae would look like if it was applying for a job. It is also a great summary for those who need a handy cheat sheet of where China was, where it is, and where it is going.
Recession At The Gate: JPM Cuts Q4 GDP From 1.0% To 0.1%
Submitted by Tyler Durden on 01/16/2016 - 10:35 According to JPM's chief economist Michael Feroli, in the 4th quarter, the same quarter in which Yellen finally felt confident enough to declare the US economy strong enough to withstand a rate hike and a tightening cycle, US growth ground to a halt and as a result JPMorgan just cut its Q4 GDP forecast from 1.0% to 0.1%.
Iran Frees US Hostages, WaPo Journalist On Day Sanctions Lifted
Submitted by Tyler Durden on 01/16/2016 - 09:59 "Based on an approval of the Supreme National Security Council (SNSC) and the general interests of the Islamic Republic, four Iranian prisoners with dual-nationality were freed today within the framework of a prisoner swap deal."23 Dead After Al-Qaeda Storms West African Hotel: "It Was Like A Scene From A Movie"
Submitted by Tyler Durden on 01/16/2016 - 09:31
The economy is collapsing around us, and if you aren’t already prepared, it’s time to get with it ASAP, because Wal-Mart is closing 269 stores. If that doesn’t ring loud, clanging warning bells for you, then nothing will convince you of the need to prepare for economic collapse.
If you listened to the State of the Union address (listen for free) last week, you heard President Obama accuse those who criticized the financial situation in the United States of “peddling fiction.” However, with oil prices plummeting, stock markets around the globe tanking, and businesses shutting their doors left and right, it seems that the only peddler of false tales is our fearless leader himself. When the biggest retailer in America is struggling to stay afloat, I call BS (Baloney Sandwiches) on the notion that “our economy is recovering.”
Read More
by Michael Noonan, Edge Trader Plus:
In the midst of this political and economic maelstrom that appears to be reaching its peak since the pivotal 9/11 “attack” on the US, when the twin towers of the World Trade Center were destroyed, partially by an airplane flying into each tower, then more fully by the detonation of all the explosives planted in the buildings to insure their destruction. Should there be any question as to that assessment, which has gained greater acceptance by those willing to do their due diligence, the unprovoked destruction of building seven [WTC 7] adds proof of how these buildings were planned for certain demolition, in advance.
Read More
In the midst of this political and economic maelstrom that appears to be reaching its peak since the pivotal 9/11 “attack” on the US, when the twin towers of the World Trade Center were destroyed, partially by an airplane flying into each tower, then more fully by the detonation of all the explosives planted in the buildings to insure their destruction. Should there be any question as to that assessment, which has gained greater acceptance by those willing to do their due diligence, the unprovoked destruction of building seven [WTC 7] adds proof of how these buildings were planned for certain demolition, in advance.
Read More
by Geoffrey Grider, Now The End Begins:
Google declined to respond to several requests for comment over the
past 24 hours about the meeting. The planned encounter was first mooted
in a barely noticed tweet two days ago by a man named Iacopo Scaramuzzi,
who has been described on Twitter as a Vaticanista, or Vatican expert.
POPE FRANCIS, WHO MORE THAN A BILLION CATHOLICS BELIEVE IS GOD’S REPRESENTATIVE ON EARTH, WILL MEET WITH POWERFUL SILICON VALLEY GOOGLE EXECUTIVE AND PHILANTHROPIST ERIC SCHMIDT FOR 15 MINUTES AT THE VATICAN IN ROME.
Read More
Google declined to respond to several requests for comment over the
past 24 hours about the meeting. The planned encounter was first mooted
in a barely noticed tweet two days ago by a man named Iacopo Scaramuzzi,
who has been described on Twitter as a Vaticanista, or Vatican expert.POPE FRANCIS, WHO MORE THAN A BILLION CATHOLICS BELIEVE IS GOD’S REPRESENTATIVE ON EARTH, WILL MEET WITH POWERFUL SILICON VALLEY GOOGLE EXECUTIVE AND PHILANTHROPIST ERIC SCHMIDT FOR 15 MINUTES AT THE VATICAN IN ROME.
Read More
by Daniel Barker, SHTFPlan:
Although some still regard prepping to be an activity favored by survivalist “wackos” who fear a cataclysmic Armageddon-style event, more and more American families are beginning to see the value in preparing for a number of possible scenarios in which the stockpiling of food, water and other essentials could prove to be a very wise investment. The Oxford Dictionary defines “prepping” (in this usage of the term) as: The practice of making active preparations for a possible catastrophic disaster or emergency, typically by stockpiling food, ammunition, and other supplies.
Prepping runs the gamut from weather events to armageddon
In practice, prepping can range from simply making sure a household has enough basic supplies to survive a temporary power outage or major weather event – such as a hurricane – to preparing for a long-term crisis, such as a massive power grid failure.
Read More
Although some still regard prepping to be an activity favored by survivalist “wackos” who fear a cataclysmic Armageddon-style event, more and more American families are beginning to see the value in preparing for a number of possible scenarios in which the stockpiling of food, water and other essentials could prove to be a very wise investment. The Oxford Dictionary defines “prepping” (in this usage of the term) as: The practice of making active preparations for a possible catastrophic disaster or emergency, typically by stockpiling food, ammunition, and other supplies.
Prepping runs the gamut from weather events to armageddon
In practice, prepping can range from simply making sure a household has enough basic supplies to survive a temporary power outage or major weather event – such as a hurricane – to preparing for a long-term crisis, such as a massive power grid failure.
Read More
by Michael W. Chapman, CNSnews:
Following President Barack Obama’s State of the Union speech, Kentucky
clerk Kim Davis explained why she opposed homosexual “marriage,” and
noted that although Obama defended Muslims in his address, he said
nothing of Christians who “are being so tried and tested and being
mashed down, literally, with his agenda.”
Davis, an elected clerk in Rowan County, Ky., was briefly jailed last year following the Supreme Court ruling that legalized homosexual “marriage” for refusing to issue marriage licenses to same-sex couples because it went against her Christian beliefs.
In an interview on EWTN’s News Nightly on Jan. 12, host Jason Calvi asked Davis, “Was there anything that you particularly didn’t like about what the president said tonight?”
Read More
Following President Barack Obama’s State of the Union speech, Kentucky
clerk Kim Davis explained why she opposed homosexual “marriage,” and
noted that although Obama defended Muslims in his address, he said
nothing of Christians who “are being so tried and tested and being
mashed down, literally, with his agenda.”Davis, an elected clerk in Rowan County, Ky., was briefly jailed last year following the Supreme Court ruling that legalized homosexual “marriage” for refusing to issue marriage licenses to same-sex couples because it went against her Christian beliefs.
In an interview on EWTN’s News Nightly on Jan. 12, host Jason Calvi asked Davis, “Was there anything that you particularly didn’t like about what the president said tonight?”
Read More
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