Submitted by Tyler Durden on 05/16/2016 - 18:30
"America’s on an irreversible decline and no one in Washington seems to care... God help us..." - Congressman X
"Markets Have No Purpose Any More" Mark Spitznagel Warns "Biggest Collapse In History" Is Inevitable
Submitted by Tyler Durden on 05/16/2016 - 15:47 "This is the greatest monetary experiment in history. Why wouldn’t it lead to the biggest collapse? Logic dictates to me that it’s inevitable..."
"They Are Scared To Death" - CEO Explains The Single Biggest Reason Why People Are Buying Precious Metals
Submitted by Tyler Durden on 05/16/2016 - 21:25 We can talk about technical charts, supply and demand fundamentals, and price manipulation, all of which point to significant increases in the value of gold and silver for the foreseeable future. But according to Golden Arrow Resources CEO Joseph Grosso, who is credited with the discovery of the largest silver deposit in history, the single biggest reason that retail investors, institutional players and governments around the world are gobbling up physical precious metals, resource stocks and ETF’s at unprecedented levels is that they are scared to death of the state of the global economy and where it will go next...
For many years we have warned of the dangers of derivatives. We were
laughed at leading up to the 2008 financial debacle when Lehman broke
and nearly took the entire system down. That turned out to be no
laughing matter and here we are again at exactly the same situation
where derivatives threaten to melt the financial system again. The
difference now of course is the “saving ammunition” has already been
spent where sovereign treasuries and central banks have destroyed their
own balance sheets.Two weeks ago, the Fed announced a “48 hour stay in place” provision for for collateral of any derivative contracts where the big banks are involved. The idea here is to prevent collateral being pulled by the survivor for 48 hours should the bank counterparty become insolvent. This will give the Fed a window of time to get the fire hose of liquidity out and reliquefy a large bank’s balance sheet before they can break the derivatives chain. But what does this really do? Does it make derivatives any more sound or does it really just add more risk to central bank balance sheets and thus the currencies themselves?
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by Lars Schall, Gold Switzerland:
Transcript
Lars Schall: Howdy, ladies and gentlemen! On behalf of Matterhorn Asset Management I am now connected with Peter Boockvar, who is the Chief Market Analyst with The Lindsey Group, a macro economic and market research firm in Washington DC. – Mr. Boockvar, recently President Obama and Vice President Biden met with Federal Reserve Chairwoman Janet Yellen. It was said that in the history of the United States, it has never before taken place that both the President and Vice President met “unexpectedly” with the Federal Reserve Chair. Now, what do you believe what this was all about?
Peter Boockvar: Well, I wish I was a fly on the wall listening to the conversations between them, but I have to say that I don’t think anything was too political in that. I couldn’t imagine, however I could be wrong, that Obama would say to Yellen, “Don’t mess this up for Hilary and don’t raise rates”, and I can’t imagine that Janet would say, “Okay, Barack, you got it”.
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TranscriptLars Schall: Howdy, ladies and gentlemen! On behalf of Matterhorn Asset Management I am now connected with Peter Boockvar, who is the Chief Market Analyst with The Lindsey Group, a macro economic and market research firm in Washington DC. – Mr. Boockvar, recently President Obama and Vice President Biden met with Federal Reserve Chairwoman Janet Yellen. It was said that in the history of the United States, it has never before taken place that both the President and Vice President met “unexpectedly” with the Federal Reserve Chair. Now, what do you believe what this was all about?
Peter Boockvar: Well, I wish I was a fly on the wall listening to the conversations between them, but I have to say that I don’t think anything was too political in that. I couldn’t imagine, however I could be wrong, that Obama would say to Yellen, “Don’t mess this up for Hilary and don’t raise rates”, and I can’t imagine that Janet would say, “Okay, Barack, you got it”.
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from Casey Research, via Silver Doctors:
“Negative interest rates” have become a phenomenon with economists and
the media. But I’m writing to tell you something about negative interest
rates you haven’t heard. You certainly won’t hear about it in the
mainstream press.
What’s coming at you is a historic event. It’s something our grandchildren will hear stories about, much like the Great Depression or the Cold War. It could send the price of gold much higher in the coming years.
If you know what’s coming, it could mean the difference between having lots of free cash in retirement and barely getting by. And please remember this warning: Social Security will help even less than you think.
To understand the gravity of this moment, let’s cover one of the most bizarre ideas in the world…
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“Negative interest rates” have become a phenomenon with economists and
the media. But I’m writing to tell you something about negative interest
rates you haven’t heard. You certainly won’t hear about it in the
mainstream press.What’s coming at you is a historic event. It’s something our grandchildren will hear stories about, much like the Great Depression or the Cold War. It could send the price of gold much higher in the coming years.
If you know what’s coming, it could mean the difference between having lots of free cash in retirement and barely getting by. And please remember this warning: Social Security will help even less than you think.
To understand the gravity of this moment, let’s cover one of the most bizarre ideas in the world…
Read More
by Michael Snyder, The Economic Collapse Blog:
The full-blown economic collapse that is happening in Venezuela right
now is a preview of what Americans will be experiencing in the not too
distant future. Just a few years ago, most Venezuelans could never have
imagined that food shortages would become so severe that people would
literally hunt dogs and cats for food. But as you will see below, this
is now taking place. Sadly, this is what the endgame of socialism looks
like. When an all-powerful government is elevated far above all other
institutions in society and radical leftists are given the keys to the
kingdom, this is the result. Food shortages, looting and rampant violent
crime have all become part of daily life in Venezuela, and we all need
to watch as this unfolds very carefully, because similar scenarios will
soon be playing out all over the planet.
Read More
The full-blown economic collapse that is happening in Venezuela right
now is a preview of what Americans will be experiencing in the not too
distant future. Just a few years ago, most Venezuelans could never have
imagined that food shortages would become so severe that people would
literally hunt dogs and cats for food. But as you will see below, this
is now taking place. Sadly, this is what the endgame of socialism looks
like. When an all-powerful government is elevated far above all other
institutions in society and radical leftists are given the keys to the
kingdom, this is the result. Food shortages, looting and rampant violent
crime have all become part of daily life in Venezuela, and we all need
to watch as this unfolds very carefully, because similar scenarios will
soon be playing out all over the planet.Read More
by Dolly Kyle, WND:
“When are they going to get those f—ing ree-tards out of here?!”
Those are said to be the infamous words of Hillary Clinton – also known as Arkansas’ “Mother of the Year” in 1984 – when Hillary reportedly grew frustrated that handicapped children weren’t collecting their Easter eggs quickly enough on the lawn of the Arkansas governor’s mansion.
“[T]he children were having a wonderful time. But they were having a v-e-r-y, v-e-r-y, v-e-r-y s-l-o-w time of finding and picking up the Easter eggs,” wrote Dolly Kyle – a childhood sweetheart of Bill Clinton who had a 33-year relationship with him – in her new book, “Hillary the Other Woman: A Political Memoir.”
Kyle recounted the story as told to her by Arkansas State Police troopers and Louise, a mutual friend of both Kyle and the Clintons and a longtime advocate of what was then the Arkansas Association for Retarded Citizens.
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“When are they going to get those f—ing ree-tards out of here?!”Those are said to be the infamous words of Hillary Clinton – also known as Arkansas’ “Mother of the Year” in 1984 – when Hillary reportedly grew frustrated that handicapped children weren’t collecting their Easter eggs quickly enough on the lawn of the Arkansas governor’s mansion.
“[T]he children were having a wonderful time. But they were having a v-e-r-y, v-e-r-y, v-e-r-y s-l-o-w time of finding and picking up the Easter eggs,” wrote Dolly Kyle – a childhood sweetheart of Bill Clinton who had a 33-year relationship with him – in her new book, “Hillary the Other Woman: A Political Memoir.”
Kyle recounted the story as told to her by Arkansas State Police troopers and Louise, a mutual friend of both Kyle and the Clintons and a longtime advocate of what was then the Arkansas Association for Retarded Citizens.
Read More
"If The Whole Country Looked Like Alabama, Donald Trump Would Be Fine"
Submitted by Tyler Durden on 05/16/2016 - 21:00 After the 2012 election, in which Barack Obama won 71 percent of the Hispanic vote, the Republican National Committee found it necessary to conduct an in depth study of the loss, dubbing it the "most comprehensive post-election review" ever undertaken." The result of the study concluded that... wait for it...the GOP needed to do much more to reach Hispanics if it hoped to win the White House someday. As fate would have it, "someday" is now here, and as The Hill reports, Donald Trump will have to overcome the most diverse electorate in history, lead by a drop in white voters, and increases in Hispanic, black, and Asian voters.
Analyst Warns Deutsche Bank's Problems May Now Be "Insurmountable"
Submitted by Tyler Durden on 05/16/2016 - 20:31 "The biggest problem is that DBK has too much leverage. On our measures, we believe DBK is still over 40x levered. DBK can either reduce assets or increase capital to rectify this. On the first path, the markets do not exist in the size nor pricing to enable it to follow this route. Going down the second path also seems impossible at the moment, as the profitability of the core business is under pressure. Seeking outside capital is also likely to be difficult as management would likely find it hard to offer any type of return on new capital invested."
"What Is Worrisome Is The Increasing Scale Of Violence" - Anti-Immigrant Rhetoric Turns To Arson In Germany
Submitted by Tyler Durden on 05/16/2016 - 20:10 By now everyone is well aware that the sentiment in Germany is beginning to take on a very anti-immigrant (specifically Muslim immigrant) tone. Not only is sentiment shifting, but now violent actions are being put behind the ever growing contempt for immigrants within Germany as well.
Viral Video Shows Nightmare TSA Line Stretching "For Miles"
Submitted by Tyler Durden on 05/16/2016 - 19:56 After questioning whether a self-imposed process to make airline check-ins more rigorous, knowingly increasing wait times, was a Federally-funded scheme to force travelers to enroll in pre-check programs, thus manipulating people into cooperating with authoritarian strategies; it seemed rather appropriate that the following video, which went viral, shows what is simply a stunningly long TSA line wait at Midway Airport.
Burlington College Closing Due To "Crushing Debt" Incurred Under Presidency Of Bernie Sanders' Wife
Submitted by Tyler Durden on 05/16/2016 - 19:40 In what may or may not be a harbinger of things to come should Bernie Sanders become president, earlier today Burlington College, a small Vermont private school once led by the wife of Democratic presidential candidate Bernie Sanders, said Monday it will close later this month, citing "the crushing weight" of debt incurred during the presidency of Jane Sanders who was in charge of the college until 2011.
Nassim Taleb's "Shillary vs The Donald" Cheat Sheet
Submitted by Tyler Durden on 05/16/2016 - 19:20 The press, it appears, is a bit lost in their own lurid presentations of reality in the projected battle of good vs evil that the 2016 election has become. By way of public service, Nassim Taleb has created a simple "cheat sheet" to clarify in his words "with more rigor" what reality is, instead of "through the eyes of idiots."
Defense Bill Coming This Week: A Boost For War And Tyranny
Submitted by Tyler Durden on 05/16/2016 - 18:55 The Defense Authorization bill should remain notorious. It represents most of what is wrong with Washington. It is welfare for the well-connected defense contractors and warfare on our economy and on the rest of the world. This reckless spending does nothing to defend the United States. It is hastening our total economic collapse.
LendingClubbed: Stock Plummets On News Of A DOJ Grand Jury Subpoena As Accusations Fly
Submitted by Tyler Durden on 05/16/2016 - 18:40 "On May 9, 2016, following the announcement of the board review described elsewhere in this filing, the Company received a grand jury subpoena from the U.S. Department of Justice (DOJ)... In the five business days since we announced our review and resignation of our CEO, we have experienced a slowdown in a significant amount of investment capital... The identified material weakness is the result of the aggregation of control deficiencies related to the Company’s “tone at the top,” which manifested in three primary areas described further below."
US Treasuries Account For A Stunning 60% Of All Global Positive Yielding Debt
Submitted by Tyler Durden on 05/16/2016 - 18:17 Here is why US yields are, if anything, set to decline more: on the other hand, the US accounts for almost 60% of all positive yielding debt and 89% of the positive yielding debt which has a tenor less than 1YR (Figure 4). Also, US debt accounts for 74% of the positive yielding G10 debt in the 1 – 5YR sector.
Peter Schiff On Trump's "Realism" & Krugman's "Scruples"
Submitted by Tyler Durden on 05/16/2016 - 18:05 The difference between Trump and his critics is that he must believe there is a cost in printing too much money. Modern economists do not appear to grasp this basic concept.
What Capital Controls? Chinese Buyers Flood US Real Estate Market With $110 Billion
Submitted by Tyler Durden on 05/16/2016 - 17:40 We've chronicled extensively the capital flight taking place out of China and into anything that is perceived to hold value as fears that the yuan will devalue persist (here, here, and here). Now we're able to learn just how much individual wealth has been poured into the United States real estate market over the past few years. According to the study (which excludes most purchases by companies and trusts), Chinese buyers have invested a massive $110 billion into the US real estate market between 2010-2015... and it's expected to double by 2020.
US To Send Troops, Weapons To Libya To "Fight ISIS"
Submitted by Tyler Durden on 05/16/2016 - 17:21 Just two years after the US provided generous amounts of modern weapons to both the "moderate" Syrian rebels as well as the Iraq military, which then conveniently and almost immediately "fell into the wrong hands" and served to arm what was then a little known group of Muslim fundamentalists that went by the name of the Islamic State, the US is about to do it again.
In Unexpected Twist, Saudi Arabia Was Buying US Treasuries Over Past Year
Submitted by Tyler Durden on 05/16/2016 - 17:00 Instead of selling US Treasurys, as many has expected, Saudi Arabia appears to have been buying US paper over the past year according to government data.
by Bix Weir, Road to Roota, SGT Report:
So much going on behind the scenes it’s truly incredible.
The latest news is that China’s largest bank ICBC Standard Bank is buying another massive gold and silver storage vault in London from the huge gold/silver derivative player Barclays Bank… China’s Largest Bank is Quietly Cornering the Market
This follows other Chinese vault purchases by China from Deutsche Bank and the JP Morgan Chase vault at One Chase Plaza (which reportedly has a secret underground vault with a tunnel connecting it directly to the Fed New York vault.)
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So much going on behind the scenes it’s truly incredible.The latest news is that China’s largest bank ICBC Standard Bank is buying another massive gold and silver storage vault in London from the huge gold/silver derivative player Barclays Bank… China’s Largest Bank is Quietly Cornering the Market
This follows other Chinese vault purchases by China from Deutsche Bank and the JP Morgan Chase vault at One Chase Plaza (which reportedly has a secret underground vault with a tunnel connecting it directly to the Fed New York vault.)
Read More
by Karl Denninger, Market Ticker:
The New York Times’ article published Saturday with the headline
“Crossing the Line: How Donald Trump Behaved With Women in Private”
begins with an anecdote from a woman named Rowanne Brewer Lane, who as a
26-year-old model was asked by the businessman to put on a swimsuit
during their first meeting at a Mar-a-Lago pool party.
….
“They spun it to where it appeared negative. I did not have a negative experience with Donald Trump, and I don’t appreciate them making it look like that I was saying that it was a negative experience because it was not,” Brewer Lane said.
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The New York Times’ article published Saturday with the headline
“Crossing the Line: How Donald Trump Behaved With Women in Private”
begins with an anecdote from a woman named Rowanne Brewer Lane, who as a
26-year-old model was asked by the businessman to put on a swimsuit
during their first meeting at a Mar-a-Lago pool party.….
“They spun it to where it appeared negative. I did not have a negative experience with Donald Trump, and I don’t appreciate them making it look like that I was saying that it was a negative experience because it was not,” Brewer Lane said.
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by Gary Christenson, Deviant Investor:
Most people like their truth palatable, easy to digest, and believable. Unfortunately for our emotional needs, some truths are uncomfortable, unsettling, and difficult. Regarding the United States, the U.K., Europe, and Japan IT IS COMFORTING TO BELIEVE:
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Most people like their truth palatable, easy to digest, and believable. Unfortunately for our emotional needs, some truths are uncomfortable, unsettling, and difficult. Regarding the United States, the U.K., Europe, and Japan IT IS COMFORTING TO BELIEVE:
- Debt has increased exponentially for decades, and in the case of the US, for over 100 years. It has worked so far, so we want to believe it will continue for the foreseeable future.
- Our governments act as if they believe we can borrow ourselves out of debt, spend our way into prosperity, and pretend and extend indefinitely.
- Every major country has a central bank, so it is comforting to believe they are needed.
- It is comforting to believe that gold is unnecessary. As per Warren Buffett, we dig it from the ground, and then store it in a vault, where it sits.
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by Alex Swoyer, Breitbart:
“Wait until you see the film version of the Clintons’ War on Women,”
Stone told Boyle. “Wait until you see the women themselves tell the
story about how they were physically abused by Bill and then
psychologically abused by Hillary.”
“The only difference between Bill Cosby and Bill Clinton is Cosby drugged his victims, Bill preferred to physically overpower them. That was his M.O.,” Stone charged.
“This isn’t about indiscretions or marital infidelity or adultery or girlfriends. It’s about sexual assault or rape,” Stone added. “These women are not going to be silent and, if I may paraphrase Hillary, they deserve to be believed.”
Stone said CNN and other mainstream media outlets have been censoring this news about the Clintons and their treatment of women, alleging, “They literally pull the cord on your microphone.” He continued:
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“Wait until you see the film version of the Clintons’ War on Women,”
Stone told Boyle. “Wait until you see the women themselves tell the
story about how they were physically abused by Bill and then
psychologically abused by Hillary.”“The only difference between Bill Cosby and Bill Clinton is Cosby drugged his victims, Bill preferred to physically overpower them. That was his M.O.,” Stone charged.
“This isn’t about indiscretions or marital infidelity or adultery or girlfriends. It’s about sexual assault or rape,” Stone added. “These women are not going to be silent and, if I may paraphrase Hillary, they deserve to be believed.”
Stone said CNN and other mainstream media outlets have been censoring this news about the Clintons and their treatment of women, alleging, “They literally pull the cord on your microphone.” He continued:
Read More
by Adam Taggart, Peak Prosperity:
Anyone involved with managing projects, people or systems knows that
the only thing that can be planned with absolute certainty is that
things will never go 100% according to plan.
This is true even in exceedingly simple situations, which we’ve written about at length here at Peak Prosperity (the uncontrollable nature of the straightforward Beer Game detailed in this post on the Bullwhip Effect outlines this well). And it’s one of the truisms that gives us the most confidence that the world’s central planners will eventually lose control of the global systems they are trying to manage via increasingly heavy-handed intervention.
History is full of examples where governments’ best-laid plans failed in spectacular fashion, exacerbating the very problems they were intending to solve. Here are a few of our favorites:
Read More
Anyone involved with managing projects, people or systems knows that
the only thing that can be planned with absolute certainty is that
things will never go 100% according to plan.This is true even in exceedingly simple situations, which we’ve written about at length here at Peak Prosperity (the uncontrollable nature of the straightforward Beer Game detailed in this post on the Bullwhip Effect outlines this well). And it’s one of the truisms that gives us the most confidence that the world’s central planners will eventually lose control of the global systems they are trying to manage via increasingly heavy-handed intervention.
History is full of examples where governments’ best-laid plans failed in spectacular fashion, exacerbating the very problems they were intending to solve. Here are a few of our favorites:
Read More
by Joshua Krause, The Daily Sheeple:
Tylenol, the over the counter pain relieving drug that is a staple in
America’s medicine cabinets, has had a pretty rough month. In April a
study found that acetaminophen, the active ingredient in Tylenol, can actually impair brain function. Taking the recommended dose of the drug can make you more likely to miss errors and make mistakes.
Now a new study published on May 5th revealed that acetaminophen can also hinder your ability to feel empathy for others. One experiment involved giving 40 healthy college students the maximum recommended dose of the drug, and a placebo to another 40 students. Then they were read fictional scenarios of people being hurt or in mourning, and were asked to rate how much pain these characters were in. Another experiment was conducted with 114 students, which involved blasting them with loud sounds, and asking them to rate how painful it was for themselves, or would be for other people.
Read More
Tylenol, the over the counter pain relieving drug that is a staple in
America’s medicine cabinets, has had a pretty rough month. In April a
study found that acetaminophen, the active ingredient in Tylenol, can actually impair brain function. Taking the recommended dose of the drug can make you more likely to miss errors and make mistakes.Now a new study published on May 5th revealed that acetaminophen can also hinder your ability to feel empathy for others. One experiment involved giving 40 healthy college students the maximum recommended dose of the drug, and a placebo to another 40 students. Then they were read fictional scenarios of people being hurt or in mourning, and were asked to rate how much pain these characters were in. Another experiment was conducted with 114 students, which involved blasting them with loud sounds, and asking them to rate how painful it was for themselves, or would be for other people.
Read More
by Patrick J. Buchanan, Lew Rockwell:
“No modern precedent exists for the revival of a party so badly
defeated, so intensely discredited, and so essentially split as the
Republican Party is today.”
Taken from “The Party That Lost Its Head” by Bruce Chapman and George Gilder, this excerpt, about Barry Goldwater’s defeat in 1964, led Thursday’s column by E.J. Dionne of The Washington Post.
Dionne is warning what could happen if the GOP perpetrates the political atrocity of nominating Donald Trump.
For weeks now, the Post’s editorial page has sermonized about the “moral” obligation of all righteous Republicans to repudiate Trump.
The Post’s solicitude for the well-being of the Republican Party is the stuff of legend. Yet it is a bit jarring to see these champions of abortion on demand, same-sex marriage, and visitation rights for cross-dressers in the girls’ room, standing in a pulpit lecturing on morality.
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“No modern precedent exists for the revival of a party so badly
defeated, so intensely discredited, and so essentially split as the
Republican Party is today.”Taken from “The Party That Lost Its Head” by Bruce Chapman and George Gilder, this excerpt, about Barry Goldwater’s defeat in 1964, led Thursday’s column by E.J. Dionne of The Washington Post.
Dionne is warning what could happen if the GOP perpetrates the political atrocity of nominating Donald Trump.
For weeks now, the Post’s editorial page has sermonized about the “moral” obligation of all righteous Republicans to repudiate Trump.
The Post’s solicitude for the well-being of the Republican Party is the stuff of legend. Yet it is a bit jarring to see these champions of abortion on demand, same-sex marriage, and visitation rights for cross-dressers in the girls’ room, standing in a pulpit lecturing on morality.
Read More
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