Submitted by Tyler Durden on 05/25/2016 - 10:19
In a surprising reversal, what many thought was impossible, namely the State Department cracking down on its former head and Democratic presidential frontrunner, Hillary Clinton, seems all too possible following news that the State Department inspector General audit has faulted Hillary Clinton, other secretaries of state for poorly managing electronic communications.
France Goes Dark? Staff In 19 French Nuclear Power Plants To Go On Strike Tomorrow
Submitted by Tyler Durden on 05/25/2016 - 13:59 Following strikes over the unpopular French labor reform, that started over the weekend and crippled the French refining industry leading to gasoline shortages and rationing, things are about to get far more serious for the country whose economy has already been threatened with a sharp slowdown as a result of a relentless wave of labor unrest. According to Reuters, staff in France's 19 nuclear plants - which by definition we assume is essential - have voted to go on strike on Thursday as part of protests over a labour reform, according to a CGT union official.
by Bill Holter, JS Mineset, SGT Report.com:
Have you ever wondered “who” would be blamed this time around?
To this point, we speak about the “Lehman moment” when we look back at
2008. Of course it was not Lehman’s fault as they were forced,
sacrificed or purposely destroyed, however you’d like to describe it.
The way I saw it, the banking system needed an injection of capital,
cheap capital and lots of it. The only way to get public funds was to
“create” an emergency BEFORE the emergency became all engulfing, this is
exactly what they did.
Now, some eight years and multiple $trillions later we are facing another “liquidity crunch”. It does not make sense that liquidity is scarce after all of the various QE’s but it is. The credit markets are very thin and trading even small pieces of credit has become hard work. The liquidity is just not there to support fully functional and liquid markets. The question now becomes, which financial donkey will have the tail of failure pinned on them?
Read More…
Have you ever wondered “who” would be blamed this time around?
To this point, we speak about the “Lehman moment” when we look back at
2008. Of course it was not Lehman’s fault as they were forced,
sacrificed or purposely destroyed, however you’d like to describe it.
The way I saw it, the banking system needed an injection of capital,
cheap capital and lots of it. The only way to get public funds was to
“create” an emergency BEFORE the emergency became all engulfing, this is
exactly what they did.Now, some eight years and multiple $trillions later we are facing another “liquidity crunch”. It does not make sense that liquidity is scarce after all of the various QE’s but it is. The credit markets are very thin and trading even small pieces of credit has become hard work. The liquidity is just not there to support fully functional and liquid markets. The question now becomes, which financial donkey will have the tail of failure pinned on them?
Read More…
Detroit, Fresh Out Of Bankruptcy, Discovers $195M Pension Shortfall
Submitted by Tyler Durden on 05/25/2016 - 13:35 On December 10, 2014 the city of Detroit exited bankruptcy. It was the largest municipal bankruptcy in US history. The bondholders were totally screwed in favor of the pensioners (not that I generally like bondholders). Regardless, everything was supposed to be fixed. It wasn’t.
Nigeria Currency Devaluation Looms As FX Forwards Crash To Record Lows
Submitted by Tyler Durden on 05/25/2016 - 13:22 Despite US equity investors' exuberance over bouncing crude oil prices, the world's crude producers continue to suffer and while Venezuela is in the headlines every day (having already collapsed into chaos), Nigeria appears the nearest to that abyss next. Having urged investors "don't panic" last year, and seeing dollar reserves drying up rapidly earlier this year, recent "lies" about the nation's statistics have raised fears of a looming devaluation as FX forwards have crashed to 291 Naira to the dollar (current peg is 199).
Another Blistering Auction: Foreign Central Banks Just Can't Get Enough Of 5Y Paper
Submitted by Tyler Durden on 05/25/2016 - 13:12 Following yesterday's surprisingly strong 2 Year auction, the US Treasury pulled off another blistering auction when moments ago it sold $34 billion in 5 year paper (Cusip R77), at a high yield of 1.395%, stopping through the when issued by 0.8 bps, a surprising outcome following two consecutive tailing auctions, with a Bid to Cover of 2.60, the highest since November 2014. Incidentally, the yield of 1.395% was lower than last month's 1.41% when June rate hike odds were in the single digits.
Why Cheap Shale Gas Will End Soon
Submitted by Tyler Durden on 05/25/2016 - 12:51 Enthusiasts believe that shale gas is simultaneously cheap, abundant and profitable thus defying all rules of business and economics. That is magical thinking.
Hillary Responds To Damaging State Department Report
Submitted by Tyler Durden on 05/25/2016 - 12:33 CLINTON SPOKESMAN SAYS INSPECTOR GENERAL'S REPORT SHOWS CLINTON'S EMAIL PRACTICES CONSISTENT WITH THAT OF FORMER SECRETARIES OF STATE
Here's The Full List Of Organizations That Paid Hillary Clinton From 2013-2015
Submitted by Tyler Durden on 05/25/2016 - 04:15 It’s enough to make you sick.
Will The Fed Hike In June? It's All In The Hands Of China Now, Deutsche Bank Explains
Submitted by Tyler Durden on 05/25/2016 - 12:18 '... the prospects for another shock from China as the dollar strengthens on the back of the Fed re-pricing, suggests that financial conditions, and thus the future path for Fed rate hikes, will not be immune to this re-pricing"You can't trust anything forced...
Ryan Folds? - Republican Speaker Ready To Endorse Trump
Submitted by Tyler Durden on 05/25/2016 - 11:59 House Speaker Paul Ryan has begun telling confidants that he wants to end his standoff with Donald Trump according to Bloomberg. Just 3 weeks after "just not being ready" to endorse Trump, and 2 weeks after signalling "unity" having met with The Donald; it seems the speaker's decision, according to two people close to the lawmaker, was driven in part because he’s worried the split has sharpened divisions in the Republican Party.
The Return Of Fracking To UK? First Permit Issued In Five Years
Submitted by Tyler Durden on 05/25/2016 - 11:45 In a 7-4 vote, Councilors of the county of North Yorkshire approved industrial tests on Monday in a move that will allow fracking in Britain for the first time in five years. The Guardian reported that the go-ahead “swept aside” vocal protests from residents and environmentalists who feared “catastrophic seismic activity, health problems, and pollution” if hydraulic fracturing was introduced.
Former Patriot Coal CEO Murdered
Submitted by Tyler Durden on 05/25/2016 - 11:27 While the US coal industry has had its share of bad news in the past year, following extensive plant shutdowns and numerous bankruptcies including that of the largest US coal producer Peabody Energy, there was some even more tragic news last night when as AP reported, West Virginia State Police say longtime coal company executive and recent Patriot Coal CE Bennett K. Hatfield has been murdered.
In Latest Market Rigging Settlement, Citi Fined $425MM For Manipulating Interest Rates
Submitted by Tyler Durden on 05/25/2016 - 11:18 Another day, another too-big-to-fail bank gets slapped on the wrist after being busted for blatant rigging of the market. The CFTC Order finds that from Jan 2007 to Jan 2012, Citibank on multiple occasions attempted to manipulate, and made false reports concerning, the U.S. Dollar International Swaps and Derivatives Association Fix (USD ISDAFIX), a global benchmark for interest rate products. Notably, while a handful of European banks have already settled criminal or civil claims tied to Libor rigging, Citi is the first U.S. bank to do so. Citi will pay a combined $425 million to resolve this manipulation, and as they proudly note in the press release, with today's actions, CFTC has imposed over $5.08 billion in penalties in 17 actions against banks and brokers to address rigging and manipulation in ISDAFIX, FX, and LIBOR benchmarks.
IMF "Not Ready" To Add Funds To Greek Bailout As It Stands, Needs More Debt Relief Details
Submitted by Tyler Durden on 05/25/2016 - 11:06 Just when the Greek debt deal appeared certain even if as we reported last night, virtually all the funds from the approved first tranche would go to repaying creditors, the IMF, which has been pushing for more debt relief since last summer, appears read to pull the plug again, following a report that the IMF isn’t officially endorsing the latest Greek debt deal until the board approves new loan program, and according to AFP, the IMF is not ready to add funds to the Greek bailout as it stands now.
The Choice For Venezuela Is Stark: Print Money & Fail Or Establish Sound Money
Submitted by Tyler Durden on 05/25/2016 - 10:50 If the state/central bank attempts to create capital by printing or borrowing money into existence, private capital will flee because the writing is on the wall: the currency and economy are doomed. You can create currency out of thin air, but you can't create sound money out of thin air or real capital out of thin air. If the state/central bank surrenders the money-printing press, and accepts the limitations of a currency it can't print into hyper-inflation, then private capital will enter the economy because it can trust that the currency can't be devalued by politicos or the central bank.
WTI Crude Nears $50 Then Tumbles After Bigger Than Expected Gasoline Build Offsets Production Cut
Submitted by Tyler Durden on 05/25/2016 - 10:36 The July WTI contract neared $50 for the first time since early November ahead of this morning's DOE data, extending gains from last night's API-reported biggest draw since 2015 (which we warned seemed like catch up from a big build last week). DOE confirmed the big draw with a 4.22mm drop in inventories (less than API's 5.13 but more than 2mm expected) and further an even bigger draw at Cushing. Gasooline saw an unexpected build (+2.04mm vs -1.5mm exp) as Distillate inventories fell for the 6th week in a row. Production fell for the 18th week in a row, holding at Sept 2014 lows. Crude's reaction was chaotic, testing up over $49.60 and down to a $48 handle.
In Today's Layoff News: Microsoft Fires 1,850; Intel Cuts 350; Shell Terminating 2,200
Submitted by Tyler Durden on 05/25/2016 - 10:08 How do you know the Fed is justified in hiking again, the economy is recovering, and the market are zooming higher? One hint is the just announced thousands in layoffs in both the energy and tech sector, among which are Shell, which announced it would layoff 2,200 jobs; Microsoft reporting it would cut 1,850; and Intel terminating up to 350 jobs in Germany.
US Services PMI Tumbles, Misses By Most On Record "Dealing Blow To Q2 Rebound Hopes"
Submitted by Tyler Durden on 05/25/2016 - 09:57 After a brief dead cat bounce, the US services economy has tumbled back to 3-month (near 7 year) lows, missing expectations by the most on record. With the slowest pace of hiring since Dec 2014 (signalling a mere 128k rise in payrolls for May), business optimism plunged to record lows (since the survey began in Oct 2009). As Markit concludes, the May data "deals a blow to hopes that the US economy will rebound in the second quarter after the dismal start to the year."Violent Protesters Storm Trump Rally In New Mexico; Throw Rocks, Bottles At Riot Police
Submitted by Tyler Durden on 05/25/2016 - 09:52
Are Investors Idiots?
Submitted by Tyler Durden on 05/25/2016 - 09:34 Statistically, the likelihood of a crash coming on any given day is small. But that is a little like telling a turkey not to worry because the likelihood of Thanksgiving is only 1 out of 365."Wrong Way Gartman" Strikes Again...
"Run For Cover If You’re Short" Gartman Pleads One Day After Saying "2,025 Is A Given"
Submitted by Tyler Durden on 05/25/2016 - 09:14 "Anybody who's short - and there are a lot of smart people who are in fact heavily short - they have to run for cover, and I think it could get ugly. In our account here, we quite literally were grasping for almost anything we could to reverse our position. Covering… or actually greatly reducing… our short position in the derivatives market was the first course of action.... We’ve learned over the years that when such things occur it is better to “shoot first and ask questions later."
Feds Probing Potential Insider Trading By Senator Bob Corker
Submitted by Tyler Durden on 05/25/2016 - 08:55 A real-estate firm that has been a favored investment of Sen. Bob Corker, R-Tenn. is under investigation by federal law-enforcement officials for alleged accounting fraud. The FBI and the SEC are focusing their examination of CBL & Associates Properties on whether officials at the Chattanooga, Tenn., company falsified information on financial statements to banks when applying for financing arrangements. The FBI and SEC are also inquiring into the trades of Bob Corker who has made millions of dollars in profits trading the company’s stock in recent years
Emerging Markets Turmoil Signal Pain Ahead For US Stocks
Submitted by Tyler Durden on 05/25/2016 - 08:33 Follow EM or not? That is the big question that BofAML asks as once again Emerging Market stocks are decoupling (lower) from an exuberant US equity market.
Just Stop It!
Submitted by Tyler Durden on 05/25/2016 - 08:13 The posse of fools in the Eccles Building is so petrified of a stock market hissy fit that it has more or less created a Wall Street doomsday machine.
Tiffany Shares Slide After Biggest Sales Drop In 6 Quarters, EPS Miss, Guidance Cut
Submitted by Tyler Durden on 05/25/2016 - 07:38 Tiffany reported its steepest sales drop in six quarters, missing analysts' estimates, as a strong dollar discouraged tourists from buying its high-end jewelry and ate into revenue from markets outside the United States. "We faced numerous challenges, including continued pressure from foreign tourist spending in Europe, the U.S. and Asia, particularly in Hong Kong."
Switzerland Prepares To Vote On "Free Lunch" For Everyone
Submitted by Tyler Durden on 05/25/2016 - 07:29 In early June the Swiss will be called upon to make a historic decision. Switzerland is the first country worldwide to put the idea of an Unconditional Basic Income (of $2,500 per month for every man, woman, and child for doing absolutely nothing) to a vote and the outcome of this referendum will set a strong precedent and establish a landmark in the evolution of this debate. The main argument of the supporters of this initiative is that it would support the people that will, or already do, lose their jobs to automation and technological progress; a defensive move against “the rise of the robots” as they put it. The promise of a free lunch is by no means a new thing in politics. Getting “something for nothing” is an age-old shiny trinket that has been dangled before the eyes of the public since time immemorial...but at the end of day, someone will have to pay for it.
Gundlach Feels Like We Are Back In December, Says "Stocks Are Dead Money" After A Short Squeeze
Submitted by Tyler Durden on 05/25/2016 - 07:06 Jeffrey Gundlach, the chief executive officer of DoubleLine Capital, said on Tuesday that the rally in U.S. stocks, which began on Monday, feels like a short squeeze and characterized U.S. stocks as "dead money." He added that "all that matters is Yellen. She is still there. I feel like we are back in December again, where everyone thinks that there is a super secret that some Fed officials have this knowledge that the economy is really good."
Global Stocks, Futures Rally, Ignore Sharp Yuan Devaluation On Hopes Fed Is Right This Time
Submitted by Tyler Durden on 05/25/2016 - 06:43 The single biggest event overnight was the PBOC's devaluation of the Yuan to the lowest since March 2011, setting the fixing at 6.5693, the highest in over 5 years and in direct response to a stronger dollar, which however if one looks at the DXY remains well below the recent highs in the 100 range, suggesting for China this is only just beggining. However, the fact that there was not more volatility in onshore and offshore overnight FX also comforted the market that at the same time as its was devaluing the PBOC was also intervening in the FX market, thus providing some assurance it would not allow runaway "risk off" sentiment prevail, nor would it promote another blitz round of capital outflows, leading to another gradual levitation in overnight risk.
US Spy Plane Disrupts Civilian Flights While Spying On Russia
Submitted by Tyler Durden on 05/25/2016 - 05:00 By now we are accustomed to hearing about US spy planes flying recon missions that are either infringing or extremely close to infringing on the borders of other countries - especially Russian borders. A US defense attache has been summoned by Russia's Defense Ministry to explain why a US spy plane was not only flying close to Russia's border on Sunday, but dangerously close to civilian aircraft as well.
China Is Executing To Plan: Foxconn Replaces 60,000 Workers With Robots
Submitted by Tyler Durden on 05/25/2016 - 03:00 The ultimate goal of China's latest Five-Year-Plan is to overtake Germany, Japan, and the United States in terms of manufacturing sophistication. To make that happen, the government needs Chinese manufacturers to adopt robots by the millions. The manufacturing hub for the electronics industry, Kunshan, in Jiangsu province is proving that that initiative is well underway. The transition from human to robot workers may upend Chinese society. “You can make the argument that robotic technology is the way to save manufacturing in China,” says Yasheng Huang, a professor at MIT’s Sloan School of Management. “But China also has a huge labor force. What are you going to do with them?” For now, that question remains unanswered, but that won't stop from unleashing the biggest robotic revolution seen in recent years.
Every once in a while a study pops up on the National Library of
Medicine’s bibliographic database known as MEDLINE that not only
confirms the therapeutic relevance of natural substances in cancer
treatment, but blows the conventional approach out of the water.
Published in 2007 in the journal Planta Medica,
researchers found that an enzyme extracted from pineapple stems known
as bromelain was superior to the chemo-agent 5-fluorauracil in treating
cancer in the animal model. The researchers stated:“This antitumoral effect [bromelain] was superior to that of 5-FU [5-fluorouracil], whose survival index was approximately 263 %, relative to the untreated control.”
Read More
Back at the beginning of 2009, we
had a real rally in the precious metals sector. The price of gold
increased by roughly 2 ½ times. Silver led the way, rising more than
double that amount. And the precious metals miners soared much higher,
leveraging the gains in metals prices – as they must do, in any
legitimate rally.
The rally occurred immediately after the Crash of ’08, the manufactured crash at the end of the Big Banks’ previous bubble-and-crash cycle. It occurred after
a sharp, ruthless take-down of precious metals prices had established a
clear “bottom” in those markets. That rally was terminated in 2011, by
the Big Banks, in one of the most-obvious price-capping operations in the history of markets.
Read More
by Andy Hoffman, Miles Franklin:
Today, I’m going to demonstrate, in spades, why the Miles Franklin Blog is such a valuable, FREE resource – and consequently, why “all bullion dealers are not commodities.”
I try to do this every day, and this October, will mark my five-year
anniversary at Miles Franklin. However, it’s in “times of need” like
today – when “the powers that be” are doing their best to prevent you
from protecting themselves from the death of the historically
destructive monetary paradigm they themselves created – when truth
tellers like us are of maximum value. Not to mention, that when
purchasing, selling, or storing bullion – as with anything in life – “you get what you pay for.”
Unfortunately, the Cartel “won” the current battle for short-term price control – in finally, with the aid of a lie as egregious as the “we killed bin Laden” card utilized to quell the 2011 silver price spike (i.e., June “rate hike” propaganda) – getting perpetually stupid COMEX “specs” to pitch their positions, causing the Precious Metal bull market to “correct.” This, amidst the most “PM bullish, everything-else-bearish” news flow to date. To that end, someone I have great respect for just wrote an extremely cynical article of the past week’s proceedings, titled the “end of the Precious Metal fake rally” – opining that we have returned to the PM “hostage market” of the past five years.
Read More
Today, I’m going to demonstrate, in spades, why the Miles Franklin Blog is such a valuable, FREE resource – and consequently, why “all bullion dealers are not commodities.”
I try to do this every day, and this October, will mark my five-year
anniversary at Miles Franklin. However, it’s in “times of need” like
today – when “the powers that be” are doing their best to prevent you
from protecting themselves from the death of the historically
destructive monetary paradigm they themselves created – when truth
tellers like us are of maximum value. Not to mention, that when
purchasing, selling, or storing bullion – as with anything in life – “you get what you pay for.”Unfortunately, the Cartel “won” the current battle for short-term price control – in finally, with the aid of a lie as egregious as the “we killed bin Laden” card utilized to quell the 2011 silver price spike (i.e., June “rate hike” propaganda) – getting perpetually stupid COMEX “specs” to pitch their positions, causing the Precious Metal bull market to “correct.” This, amidst the most “PM bullish, everything-else-bearish” news flow to date. To that end, someone I have great respect for just wrote an extremely cynical article of the past week’s proceedings, titled the “end of the Precious Metal fake rally” – opining that we have returned to the PM “hostage market” of the past five years.
Read More
from Prepper Recon:
Michael Snyder of The Economic Collapse Blog is on the show today to discuss what is happening with the collapse of Venezuela’s currency and what it will look like when it happens in America.
Michael Snyder of The Economic Collapse Blog is on the show today to discuss what is happening with the collapse of Venezuela’s currency and what it will look like when it happens in America.
by Paul Craig Roberts, Paul Craig Roberts:
“We have been watching for nearly a month a steady buildup of American
and NATO forces along Russia’s borders – on land, on sea and in the air.
There has been nothing like this on Russia’s borders, such an amassing
of hostile military force, since the German invasion of the Soviet Union
in 1941.”
So concludes America’s leading Russian expert, Professor Stephen Cohen (Princeton and New York University). http://www.globalresearch.ca/russia-has-not-seen-such-amassing-of-hostile-military-forces-on-its-borders-since-1941/5526562
Professor Cohen asks if Washington is sleepwalking and needs to wake up or whether Washington has gone crazy and intends war.
Pepe Escobar advises Washington to “beware what you wish for: Russia is ready for war.” http://www.informationclearinghouse.info/article44725.htm
Escobar reports that recently the Rand Corporation, “essentially a CIA outpost,” concluded that “Russia could overrun NATO in a mere 60 hours, if not less.” On the level of nukes and missile systems, Russia is four generations ahead of the US military/security complex, which is mainly interested in inflating profits with cost overruns. US weapons systems are simply outclassed.
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“We have been watching for nearly a month a steady buildup of American
and NATO forces along Russia’s borders – on land, on sea and in the air.
There has been nothing like this on Russia’s borders, such an amassing
of hostile military force, since the German invasion of the Soviet Union
in 1941.”So concludes America’s leading Russian expert, Professor Stephen Cohen (Princeton and New York University). http://www.globalresearch.ca/russia-has-not-seen-such-amassing-of-hostile-military-forces-on-its-borders-since-1941/5526562
Professor Cohen asks if Washington is sleepwalking and needs to wake up or whether Washington has gone crazy and intends war.
Pepe Escobar advises Washington to “beware what you wish for: Russia is ready for war.” http://www.informationclearinghouse.info/article44725.htm
Escobar reports that recently the Rand Corporation, “essentially a CIA outpost,” concluded that “Russia could overrun NATO in a mere 60 hours, if not less.” On the level of nukes and missile systems, Russia is four generations ahead of the US military/security complex, which is mainly interested in inflating profits with cost overruns. US weapons systems are simply outclassed.
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from Sprott Money:
“It’s the inherent inefficiencies of the capital market system that create these opportunities.”
This quote captures why certain exploration stocks are suddenly moving – and reminds me that more such moves will come.
With no money, exploration companies could do no work. Some assets got dropped because carrying costs could not be met; other assets got dusty sitting on a corporate shelf and getting zero attention. Investor relations people found work in new sectors.
Now that’s all changing. Today folks are busting to get all their ideas going before the rebound takes off. Assets are being dusted off. Investor relations people are getting rehired. Money is available again, which means explorers can explore, developers can advance, and miners can acquire.
Read More
“It’s the inherent inefficiencies of the capital market system that create these opportunities.”This quote captures why certain exploration stocks are suddenly moving – and reminds me that more such moves will come.
With no money, exploration companies could do no work. Some assets got dropped because carrying costs could not be met; other assets got dusty sitting on a corporate shelf and getting zero attention. Investor relations people found work in new sectors.
Now that’s all changing. Today folks are busting to get all their ideas going before the rebound takes off. Assets are being dusted off. Investor relations people are getting rehired. Money is available again, which means explorers can explore, developers can advance, and miners can acquire.
Read More
by Don Quijones, Wolf Street:
“Europe is caught in a trap.”
In Europe, banks are beginning to feel the side effects from the ECB’s negative interest rate policy (NIRP), which (among other things) is meant to weaken the euro, fuel inflation, force banks in riskier lending, and prevent Eurozone economies from buckling under the sheer weight of their sovereign debt.
But it doesn’t work. Inflation remains much lower than the ECB’s target headline rate of 2%, European sovereign debt continues to grow at an alarming rate, and bank lending remains anemic in most countries. And it could actually end up killing the patient, Europe’s biggest banks.
That’s what Francisco González, Executive Chairman of Spain’s number-two financial institution, BBVA, just warned in a speech at the Spring Membership Meeting of the world’s most powerful financial lobby organization, the Institute of International Finance (IIF).
Read More
“Europe is caught in a trap.”In Europe, banks are beginning to feel the side effects from the ECB’s negative interest rate policy (NIRP), which (among other things) is meant to weaken the euro, fuel inflation, force banks in riskier lending, and prevent Eurozone economies from buckling under the sheer weight of their sovereign debt.
But it doesn’t work. Inflation remains much lower than the ECB’s target headline rate of 2%, European sovereign debt continues to grow at an alarming rate, and bank lending remains anemic in most countries. And it could actually end up killing the patient, Europe’s biggest banks.
That’s what Francisco González, Executive Chairman of Spain’s number-two financial institution, BBVA, just warned in a speech at the Spring Membership Meeting of the world’s most powerful financial lobby organization, the Institute of International Finance (IIF).
Read More
The Global Monetary System Has Devalued 47% Over The Last 10 Years
Submitted by Tyler Durden on 05/25/2016 - 02:00 We have argued the inevitability of Fed-administered hyperinflation, prompted by a global slowdown and its negative impact on the ability to service and repay systemic debt. One of the most politically expedient avenues policy makers could take would be to inflate the debt away in real terms through coordinated currency devaluations against gold, the only monetize-able asset on most central bank balance sheets. To do so they would create new base money with which to purchase gold at pre-arranged fixed exchange prices, which would raise the general price levels in their currencies and across the world to levels that diminish the relative burden of debt repayment (while not sacrificing debt covenants). The odds of this occurring seem to have risen, judging by the gold prices.And the Stupid Sheeplez will want it...
by Michael Snyder, The Economic Collapse Blog:
Would you allow microchips to be surgically implanted in your children if that would keep them safer? This is already being done to pets on a widespread basis, and a shocking local NBC News report is promoting the idea that if it is good for our pets, then we should be doing it to our children as well. As you will see below, the report even puts a guilt trip on parents by asking them this question: “How far would you go to keep your children secure?” Of course most parents very much want to keep their children safe, and a microchip would enable authorities to track them down if they were lost or stolen. But is this really a good idea? And where is all of this technology eventually leading? If you have not seen this very disturbing local NBC News report yet, you can view it right here…
Read More…
Would you allow microchips to be surgically implanted in your children if that would keep them safer? This is already being done to pets on a widespread basis, and a shocking local NBC News report is promoting the idea that if it is good for our pets, then we should be doing it to our children as well. As you will see below, the report even puts a guilt trip on parents by asking them this question: “How far would you go to keep your children secure?” Of course most parents very much want to keep their children safe, and a microchip would enable authorities to track them down if they were lost or stolen. But is this really a good idea? And where is all of this technology eventually leading? If you have not seen this very disturbing local NBC News report yet, you can view it right here…
Read More…
by F. William Engdahl, New Eastern Outlook:
I must make a confession. I never thought it would get this far. There
is an absolutely amazing international revolt against the most deadly
and most widely used weed killer in world agriculture–glyphosate. Those
of you who have followed my earlier writings can detect my feeling of
pessimism that mere “democratic” grass-roots protest, combined with a
scientific assessment from an agency of WHO that glyphosate was a
“probable carcinogen” would be enough to stop the pending,
twice-postponed EU Commission renewal of the expiring license for
glyphosate in the EU. It almost doesn’t matter at this point what the
ultimate vote is when the next EU Commission glyphosate meeting is
convened. The genie is out of the bottle. One of the world’s most
important eugenics projects to maim and ultimately reduce human
population is on the brink of being banned much as DDT decades ago.
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/
I must make a confession. I never thought it would get this far. There
is an absolutely amazing international revolt against the most deadly
and most widely used weed killer in world agriculture–glyphosate. Those
of you who have followed my earlier writings can detect my feeling of
pessimism that mere “democratic” grass-roots protest, combined with a
scientific assessment from an agency of WHO that glyphosate was a
“probable carcinogen” would be enough to stop the pending,
twice-postponed EU Commission renewal of the expiring license for
glyphosate in the EU. It almost doesn’t matter at this point what the
ultimate vote is when the next EU Commission glyphosate meeting is
convened. The genie is out of the bottle. One of the world’s most
important eugenics projects to maim and ultimately reduce human
population is on the brink of being banned much as DDT decades ago.Read More
Idaho
silver mine shaft sunk to final depth of 9,587 feet. Project to extend
life of Hecla Mining’s Lucky Friday silver mine beyond 2040.
from Mining.com:
The Lucky Friday silver, lead and zinc mine is located deep in the
Bitterroot Mountains, in one of the world’s most prolific
silver-producing districts: northern Idaho’s Silver Valley.
Lucky Friday has been in commercial production since 1942 and this week the number 4 shaft project to extend the life of the mine for another generation reached a big milestone.
Cementation USA Inc. on Tuesday announced it has completed sinking the deepest shaft in the United States at the mine owned by Hecla Mining outside the town of Mullan in Shoshone county, Idaho.
With a finished diameter of 18 feet, the Lucky Friday #4 Shaft was sunk to a final depth of 9,587 feet (2.92 kilometres) below surface.
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from Mining.com:
The Lucky Friday silver, lead and zinc mine is located deep in the
Bitterroot Mountains, in one of the world’s most prolific
silver-producing districts: northern Idaho’s Silver Valley.Lucky Friday has been in commercial production since 1942 and this week the number 4 shaft project to extend the life of the mine for another generation reached a big milestone.
Cementation USA Inc. on Tuesday announced it has completed sinking the deepest shaft in the United States at the mine owned by Hecla Mining outside the town of Mullan in Shoshone county, Idaho.
With a finished diameter of 18 feet, the Lucky Friday #4 Shaft was sunk to a final depth of 9,587 feet (2.92 kilometres) below surface.
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