What Happens If Everybody Pulls Their Money Out Of The Bank Today?

Submitted by Tyler Durden on 04/29/2016 - 19:30
For every dollar that you have in the bank there is actually 0.00061 dollars available...in other words, there's 6 cents for every $100 dollars of deposits that you have at the bank. As Mike Maloney explains in this brief clip, we live in an economic system that is made complicated by design. Basically, it’s set up so most people don’t even try to understand it. Got Gold?

Gold “Chart of The Decade” – Maths Suggest $10,000 Per Ounce Says Rickards

from Goldcore, via Market Oracle:
James Rickards, economic and monetary expert, joined Bloomberg’s Francine Lacqua on Tuesday to discuss the gold “chart of the decade”, his new book “The New Case for Gold,” why gold is money and why gold is going to $10,000/oz in the coming years.
Francine generously acknowledged how Rickards was “bullish on gold for quiet some time and actually you have been proven right … it is the chart of the decade”. She said that this “has to do with inflation expectations, it has to do with currency but it is really at the end of the day just a haven so people pile into it – as much as they do yen …”

GOLD IS MONEY
Jim responded that
“Gold is a form of money and not an investment. As money it competes with other kinds of money — the dollar, euro, yen etc.. They’re like horses going around a racetrack – place your bets but you have a subjective preference for money.
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The Oligarchy Is Tottering - Trump Tramples The Neocons' "False Song Of Globalism"

Submitted by Tyler Durden on 04/29/2016 - 22:00 For the past twenty years, movements have arisen to challenge American imperialism. The Trump movement is different: it is massive, and it is capable of winning. That’s what has the Establishment in such a panic. If we step back from the daily news cycle, and consider the larger significance of the Trump phenomenon, the meaning of it all is unmistakable: we haven’t seen anything like this in American politics – not ever. Revolution is in the air. The oligarchy is tottering. The American people are waking up, and rising up – and those who try to ignore it or disdain it as mere “populism” will be left behind.

"We Want Them Dead" - ISIS Releases "Hit List" Of 3,600 New Yorkers

Submitted by Tyler Durden on 04/29/2016 - 15:24 The FBI is notifying unsuspecting targets after the release of an ISIS hit list that includes thousands of New Yorkers. The names on the list were released last week. ISIS has urged urged followers of the militant group to target these 3,600 individuals and to facilitate that the hacker group has posted their personal information with the demand that "we want them #Dead."

The Most Expensive Cities To Live In Across The Globe

Submitted by Tyler Durden on 04/29/2016 - 21:30 'Exceptional' America is no longer the home of the world's most expensive city in which to live and work. As the latest report from the World Economic Forum finds, the honor of the priciest place to reside is the United Kingdom's capital - London. At £80,777 (~$120,000) per person per year, "The Big Smoke" is twice as costly as Los Angeles or Sydney...

The US Endgame? Creating A Climate That "Could Easily Be Transformed Into War"

Submitted by Tyler Durden on 04/29/2016 - 21:00 Akin to ancient Rome, the United States has over-extended herself. She has created a climate that could easily be transformed into a war on a slight pretext. Wars, as it is well known are also a means a nation can extricate itself from debt and financial responsibility. The dying Petrodollar system has been on life support for some time, and it appears other nations such as the BRIC’s are taking the initiative to return to a true monetary standard. This is the same gold and silver standard that the U.S. should never have left in the first place.

In Latest US-China Escalation, Beijing Denies US Aircraft Carrier Access To Hong Kong Port

Submitted by Tyler Durden on 04/29/2016 - 20:35 What until now was mostly effete jawboning over US complaints surrounding China's territorial expansion ambitions in the South China Sea, including the occasional sailing of a US ship deep inside the disputed territorial waters (with zero impact especially now that China may soon start building maritime nuclear power plants in the area), changed dramatically earlier today when China officially denied a U.S. carrier strike group's request for a port visit to Hong Kong next week.

"Erdogan Is The Father Of ISIS" - New Documentary Outlines Turkey's Support Of The Islamic State

Submitted by Tyler Durden on 04/29/2016 - 20:30 Is Turkey the support behind ISIS? A new documentary lays out evidence that would lead to that conclusion... one we first exposed here, here, and here. The documentary takes place just days after the YPG took back the town of Shaddadi (a former ISIS stronghold), and what is revealed will most certainly go under reported, but is important nonetheless.

Caught On Tape: The Last Minutes Of Life Of A Bumbling ISIS Fighter

Submitted by Tyler Durden on 04/29/2016 - 20:20 "I need a rocket for firing at people! .. Careful not to shoot at our brothers! ... I've been shot!"

The Woodstock Of Crony Capitalism

Submitted by Tyler Durden on 04/29/2016 - 20:01 In Davos, they chug bottles of Chateau Lafite Rothschild and plot how to pillage small nations. At Berkshire, we will eat Dilly bars and plot how to pillage the middle class. Capitalism is beautiful and crony capitalism is the end product of politicians who prostitute the laws. I don’t have the power to change the current rules, but I can certainly learn to thrive within them.

Why The Hard-Sell For The "Self-Driving" Car?

Submitted by Tyler Durden on 04/29/2016 - 19:00 The object of this exercise appears to be perpetual debt-servitude as well as placing almost everyone fully and finally under the complete control of the powers that be, who are no longer just the powers in government. The distinction between state power and corporate power is so blurry now as to be almost impossible to parse. The two are effectively the same thing, working hand in hand for their mutual benefit

"There’s Some Crazy Stuff Going On In New York" As Rental Glut Finally Hits The Bottom Line

Submitted by Tyler Durden on 04/29/2016 - 18:28 "New York City just turned very quickly and more deeply than we expected. We had to join the concession party to close deals." Chief Operating Officer David Santee said during the Q1 earnings call, also adding that with the city accounting for 20% of the firm's revenue "if you can't achieve 3 or 4 percent rate growth here, then it's going to impact your bottom line."

Italy's Bank Bailout Fund Already One Third Empty After First Bank Rescue

Submitted by Tyler Durden on 04/29/2016 - 17:58 Italy's bad bank bailouts fund, "Atlas", is about to become the proud new owner of around 90% of Italy's Popolare di Vicenza after investors only bought a fraction of the mid-tier bank's €1.5 billion cash call, Reuters reports.  Popolare di Vicenza, which was due to announce the outcome of the public share offer later on Friday, said earlier in the day that it had raised €4.25 billion, at the lower end of a 4-6 billion euro range it had initially targeted, from 67 mostly domestic financial institutions.

Patrick Buchanan: At Last, America First!

Submitted by Tyler Durden on 04/29/2016 - 17:35 Whether the establishment likes it or not, and it evidently does not, there is a revolution going on in America.

Weekend Reading: Yep... Still Looks Like A Trap

Submitted by Tyler Durden on 04/29/2016 - 16:45 “The market does what it should do, just not always when.” – Jesse Livermore

US Treasury Gives Explicit Warning To China, Germany And Japan Not To Devalue Their Currencies

Submitted by Tyler Durden on 04/29/2016 - 16:24 "Treasury is creating a new “Monitoring List” that includes these economies: China, Japan, Korea, Taiwan, and Germany. China, Japan, Germany, and Korea are identified as a result of a material current account surplus combined with a significant bilateral trade surplus with the United States. Taiwan is identified as a result of its material current account surplus and its persistent, one-sided intervention in foreign exchange markets. Treasury will closely monitor and assess the economic trends and foreign exchange policies of these economies."

Yes, Hillary Clinton Is a Neocon

by Robert Parry, Lew Rockwell:
If there were any doubts that Hillary Clinton favors a neoconservative foreign policy, her performance at Thursday’s debate should have laid them to rest. In every meaningful sense, she is a neocon and – if she becomes President – Americans should expect more global tensions and conflicts in pursuit of the neocons’ signature goal of “regime change” in countries that get in their way.
Beyond sharing this neocon “regime change” obsession, former Secretary of State Clinton also talks like a neocon. One of their trademark skills is to use propaganda or “perception management” to demonize their targets and to romanticize their allies, what is called “gluing white hats” on their side and “gluing black hats” on the other.
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What Brexit Supporters Have Wrong About the Origins of the EU

from The Daily Bell:
The European Union always was an American project. It was Washington that drove European integration in the late 1940s, and funded it covertly under the Truman, Eisenhower, Kennedy, Johnson, and Nixon administrations. – Telegraph
Ambrose Evans-Pritchard is telling the truth again, or at least part of it, in this most recent column of his. But we find ourselves disagreeing with him on some important points.
More on that in a minute.
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Taking the petro out of the dollar

by Alasdair Macleod, Gold Money:
Saudi Arabia has been in the news recently for several interconnected reasons. Underlying it all is a spendthrift country that is rapidly becoming insolvent.
While the House of Saud remains strongly resistant to change, a mixture of reality and power-play is likely to dominate domestic politics in the coming years, following the ascendency of King Salman to the Saudi throne. This has important implications for the dollar, given its historic role in the region.
Last year’s collapse in the oil price has forced financial reality upon the House of Saud. The young deputy crown prince, Mohammed bin Salman, possibly inspired by a McKinsey report, aims to diversify the state rapidly from oil dependency into a mixture of industries, healthcare and tourism.
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Gold, Silver, and the US Dollar: 1792-1971

from GoldSeek:

In today’s musing, I review the history of gold, silver, and fiat currency as money in the United States of America. I document how various wars, panics and depressions, Congressional acts, and executive orders have affected the US dollar prices of precious metals and resulting gold-silver ratios.
This musing covers the period from 1792 when the United States government first established a national currency backed by gold and silver until August 1971 when Nixon floated the US dollar against gold and world currencies.
In a subsequent musing, I will document the record of gold-silver ratios in the floating fiat currency market from late 1971 to the present.
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This Chart Shows the Collapse of “King Coal” by State, and Why Miners Are Going Bankrupt

from Wolf Street:
Technological innovation did it.
For decades, coal was the dominant fuel for power generation in the US. But now coal mining companies are being pushed into bankruptcy. Two weeks ago, it was the world’s largest privately held coal miner, Peabody Energy, that made the trip. They’re hounded by a slew of problems. Two of those problems are based on technological innovation.
Coal’s direct competitor in the power sector, natural gas, suffered a total price collapse starting in 2008, from which it has still not recovered. A surge of production from improved fracking technologies created a natural gas glut that has still not abated. Even today, inventories are at record levels.
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The Precious Metals Are The Market Story Of The Year So Far

by Dave Kranzler, Investment Research Dynamics:

“Short gold on market overreaction” – Jeffrey Currie on CNBC on Feb 16, 2016; CNBC host: “Is there any commodity that you can recommend to help our viewers make money?” Jeffrey Currie: “Short gold” – CNBC on April 5, 2016;
Goldman Sachs’ Jeffrey Currie has become the “Jim Cramer” of the gold market (click on graph to enlarge). When heUntitled issues a table-pounding call, do the opposite. When gold was approaching its bottom around the $1050 level, Currie’s price target was $800. Much the same way Wall Street banks like Goldman, with AAPL at $96 and down 27% since July have been forced to lower their price target from $200 to $150, Currie was forced to raise his price target for gold to $1080. And he’s still pounding table with a “short gold” advisory. I guess when he receives a taxpayer-subsidized seven-figure bonus every year, he doesn’t mind looking like a total idiot with regard to the market.
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