Trickle-Down Crash? Trophy Assets Suddenly Tanking

Submitted by Tyler Durden on 05/30/2016 - 09:12
One of the defining traits of the past few years’ “recovery” has been the torrent of money flowing from big banks to favored clients, and from there into trophy properties like high-end real estate, superyachts, and fine art. This might be the first financial bubble to completely bypass the 99%. And now it’s ending...

Ben Carson: President Hillary Would Bring About "Tremendous Carnage And Death"

Submitted by Tyler Durden on 05/30/2016 - 15:57 Carson was on Fox’s Fox & Friends this morning to share some inspiration perspectives of what the US would look like under president Hillary Clintaon. "America, right now, is like a cruise ship that is about to go off of Niagara Falls with tremendous carnage and death."

Grant Williams Warns Of Looming 'Wealth Tax', Says "Own Physical Gold, Not ETFs"

Submitted by Tyler Durden on 05/30/2016 - 13:00 "I don't buy gold, I own it. I don't buy gold at $1,100 because I think it's going to go to $1,200. I buy it for what it does, not what the price is, the price is the last consideration for me. It's not just an asset anymore it's the answer to a lot of people's questions.. the most important stage of this is next and that is the resolution between the paper price and the physical asset. I think when we get to that point where people want to own gold, ETF's won't suffice anymore."

"It's Unbearable" 50-Year-Old German Woman Rages "I Have Lost All My Trust In The State"

Submitted by Tyler Durden on 05/30/2016 - 15:30 "I am almost 50 years old, I have a University degree, and was – out of love for nature – always a trusted voter for the Green Party. I never felt much interest for politics. In Germany everything seemed to always go its natural regular course. I had trusted our parliamentary democracy, I thought our administration would hardly make mistakes, because it is controlled by the opposition. Never, absolutely never did I think that I would lose all my trust in the State. It’s unbearable that I am afraid of the future. Preferably I’d just like to leave. But I feel too old to leave Europe...I am – like most Europeans – damned to impotence as I see this invasion happen."

"An Unusual Number Of Known Unknowns" - These Are The Key Event Risks In June

Submitted by Tyler Durden on 05/30/2016 - 14:57 In June there will be "an unusual number of known unknowns from several sources. June 2016 is a month in which the number of event risks is particularly high. In our baseline scenarios we do not see market upsets, but the potential is there: Japanese fiscal policy; meetings of the ECB, Fed and BoJ; new ECB policy implementation; a German Constitutional Court ruling; the UK referendum; elections in Spain; and a decision on the FTT are all thrown into the mix."

Almost 100 Beheadings So Far In 2016 And Counting... And No, It's Not ISIS

Submitted by Tyler Durden on 05/30/2016 - 14:30 Amnesty International warned on Friday that a surge in executions carried out by Saudi authorities could see more than 100 people put to death in the first six months of 2016. The London-based watchdog says that the kingdom carried out at least 158 death sentences last year, making it the third most prolific executioner after Iran and Pakistan. This year, at least 94 people have been executed so far, “higher than at the same point last year,” Amnesty International said. Sources in the kingdom told Middle East Eye that prisoners arrested when they were children and others suffering from mental illness were among dozens of inmates executed in Saudi Arabia in January. One security source who witnessed the executions told MEE: “It was a massacre. There was blood and body parts everywhere.”

Brits "Appalled, Disgusted" At Brexit Postal Ballot 'Fraud'

Submitted by Tyler Durden on 05/30/2016 - 14:00

Trump And Hillary Don't Know How To Fix The Economy

Submitted by Tyler Durden on 05/30/2016 - 13:30 Recently, Hillary Clinton was taped ridiculing Donald Trump for lacking a detailed plan for the American economy. The message, so it goes, is that Trump is not suited for the presidency because he doesn’t have a plan on how to turn the American economy around. But is it really more dangerous to elect a president who makes up economic policy on the fly than one who proclaims to have a detailed plan for us? The answer to this is no... The underlying problem is we have two competing people who think they can manage the American economy.

Beyond The Minsky Moment: China's Ponzi Schemes Are Now Investing In Other Ponzi Schemes

Submitted by Tyler Durden on 05/30/2016 - 12:29 The risk of a default chain reaction is looming over the $3.6 trillion market for wealth management products in China. WMPs, which traditionally funneled money from Chinese individuals into assets from corporate bonds to stocks and derivatives, are now increasingly investing in each other.

Why The Next Black Swan Will Turn Into A Flock

Submitted by Tyler Durden on 05/30/2016 - 11:45 People “are just rolling the dice, thinking nothing could be as bad as 2008.” They think (or believe) if it happens again all they’ll have to do is the same as they did last time e.g. Hunker down, wait for the storm to blow over. Rinse, repeat. This is where the real issue lies for not only the Fed per se, but rather, the entire political as it is currently known. For if a “black swan” does indeed hit once again in the very near future? Once people realize just how systematically they’ve been cut off from those “assumed” resources, especially during a crisis?  All hell is going to break loose in ways the academic class, as well as, the political never envisioned. For when the time comes (and there is no more important “time” than that during a crisis of confidence) where words truly matter, and everyone no longer believes? Everything changes. And I do mean: everything.

Wolf Richter – On a Mission to Reveal the Truth

by Kerry Lutz, Financial Survival Network:
Wolf Richter is one of the best traveled guests we’ve ever had on FSN. One day he up and quit his job, thinking he’d travel to France for an extended 7 week vacation. That trip turned into three year, over 100 country odyssey that left him profoundly changed. Upon his return to the States, he started blogging and hasn’t stopped yet. He’s busy confronting the lies and distortions that the media perpetrates upon the public. Hopefully he’ll never stop!
Click HERE to Listen

Global Financial Crisis – G7 Warning Of “Lehman-Scale” From Japan

by Mark O’Byrne, GoldCore:
Japanese Prime Minister Shinzo Abe warned his Group of Seven counterparts today that the world may on the brink of a global financial crisis on the scale of Lehman Brothers.
The Japanese Prime Minister presented data yesterday at the G7 summit he is hosting, showing that commodities prices have fallen 55 percent since 2014, the same margin they fell during the global financial crisis, interpreting this as “warning of the re-emergence of a Lehman-scale crisis”.
The Japanese Prime Minister Shinzo Abe failed in his attempt to have the G7 leaders warn of the risk of a global economic crisis in a communique issued as their summit wrapped up today in Japan.
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Could The Yuan Supplant The Us Dollar? – Valentin Katasonov

by Valentin Katasonov, The News Doctors:
Many believe that the US dollar and the Chinese yuan could soon be engaged in a fierce battle for top honors in the world of international finance.
However, John Williams, the chairman of the Federal Reserve Bank (FRB) of San Francisco, stated on May 10 that the yuan could not edge out the dollar as the primary global reserve currency. And I am inclined to think that this banker is correct.
The transformation of the yuan into an official reserve currency
Last fall the International Monetary Fund made a very welcome decision for Beijing when it added the yuan to what is called the SDR basket (SDR – Special Drawing Rights, a supranational currency issued by the IMF in limited quantities). This means that the yuan now has the status of an official reserve currency, along with the dollar, euro, British pound sterling, and Japanese yen.
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This is what you get... and deserve... when you only let the criminals have guns...

Dozens Shot Over Memorial Day Weekend As The Collapse Of Chicago Accelerates

by Michael Snyder, The Economic Collapse Blog:
Chaos and violence threaten to spiral out of control in America’s third largest city, and nobody seems to have any idea how to solve the problem. After decades of control by the radical left, many parts of the “Windy City” have become rotting, decaying, gang-infested hellholes. Just like Detroit, the city of Chicago is rapidly becoming a joke to the rest of the world, but a horribly corrupt political culture likely stands in the way of any type of major reform any time soon. And just like much of the rest of the nation, a spirit of violence and civil unrest is rising in Chicago. So far this year, the number of shootings in Chicago is up 50 percent compared to the same time period last year, and that was before we even got to Memorial Day weekend. As of Sunday morning, at least 40 people had already been shot, and authorities were bracing for even more violence as the holiday weekend stretched on…
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Sunset Over NATO

from Rogue Money:
There have been a few eyebrow-raising reports published recently at The Saker website that hint that NATO is being sent packing with its tail between its legs. We might have missed the posts entirely if it wasn’t for Joseph Farrell’s speculation that this might have something to do with the downing of EgyptAir #MS804. There appears to be a plan underway for the economic powerhouses of Europe to withdraw from NATO. It doesn’t take a rocket scientist to figure out that there is surely a small but powerful network of people who would rather die than see that happen. Or better said, they’d rather see YOU die rather than lose their power.
This first post was published on May 8, 2016 by “Scott” in a blog entitled “Waiting for Yalta – 2, or What the Kerry-Lavrov pact brings to the table”. Scott opens first by paraphrasing the thinking of Andrey Manoylo:
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Congressman on Lobbyist Who Tried to Buy Him: “It Was One of the Scummiest Meetings I’ve Ever Been In”

by Tim Brown, Freedom OutPost:
Congressman Thomas Massie (R-KY) recently admitted that he was faced with a proposal from a lobbyist that said he could help him raise enough money to be placed on the House Ways and Means Committee and recounted, “It was one of the scummiest meetings I’ve ever been in.”
Congressman Thomas Massie (R-KY) recently admitted that he was faced with a proposal from a lobbyist that said he could help him raise enough money to be placed on the House Ways and Means Committee and recounted, “It was one of the scummiest meetings I’ve ever been in.”
“He pulled me and my chief of staff into a meeting,” Massie told The Cincinnati Enquirer. “He offered to raise the money that would be required to get me on Ways and Means. This is a lobbyist telling me he can get me on Ways and Means.”
What disgusted Massie most was the unstated implications of the lobbyist’s assistance was that once on the committee, which oversees tax policy, Massie would be called upon to return the favor through various bills.
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Donald Trump’s Wild Idea About Dealing With Debt May be Here Sooner Than You’d Think

by Peter Spence, The Telegraph:
One of the wildest ideas to hit the US Presidential campaign trail might become a reality sooner than you would think.
Donald Trump, the Republican party’s nominee, has claimed that the US national debt, standing at more than $19 trillion (£13 trillion), does not need to be repaid.
“This is the United States government, you never have to default, because you print the money,” he declared live on air.
His comments signal his belief that America’s authorities, could, if they wanted, print enough money to pay back their creditors without raising an extra cent in taxes.
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