Bill Holter’s Commentary
Mr. Druckenmiller is brilliant, but Bloomberg runs this article? Sacrilege!
Druckenmiller Loads Up on Gold, Saying Bull Market Exhausted
Stan Druckenmiller, the billionaire investor with one of the best long-term track records in money management, said the bull market in stocks has “exhausted itself” and that gold is his largest currency allocation.
Druckenmiller, speaking at the Sohn Investment Conference in New York on Wednesday, said while he’s been critical of Federal Reserve policy for the last three years he expected at that time it would lead to higher asset prices.
“I now feel the weight of the evidence has shifted the other way; higher valuations, three more years of unproductive corporate behavior, limits to further easing and excessive borrowing from the future suggest that the bull market is exhausting itself,” said Druckenmiller, who averaged annual returns of 30 percent from 1986 through 2010 at his Duquesne Capital Management.
As bankers experiment with “the absurd notion of negative interest rates,” Druckenmiller said, he’s wagering on gold. “Some regard it as a metal, we regard it as a currency and it remains our largest currency allocation,” he said, without naming the metal.
Gold futures climbed 20 percent this year in the best start since 2006, helped by speculation that the U.S. Federal Reserve will be slow to tighten monetary policy amid global risks to growth and as lending rates in the euro area and Japan fell below zero.
On the Fed, Druckenmiller said the central bank has borrowed more “from future consumption than ever before.”
Bill Holter’s Commentary
…and they had better hope the financial markets STAY rigged!
Over Half of Americans Now Believe the Voting System Is Rigged
Submitted by Tyler Durden on 05/04/2016 12:02 -0400
Submitted by AnonHQ via TheAntiMedia.org,
This American primary season has been unlike any other election in recent memory, if not United States history. Between the Donald Trump phenomenon, Sanders supporters claiming voter fraud after what seems like every single state election and candidates in rivaling parties both publicly stating that the system is rigged, one thing is clear, there is something very strange happening.
We all understand that on some level, of course the system is rigged to a degree. I mean we have all known that Hillary Clinton was going to be ‘the next President’ for over six years now. It is no surprise she is running for election in 2016, we have known this all along. This is the illusion of having a choice in American politics. The reality is that you are presented with a choice to make, the illusion though, is that your choices are narrowed down by a rigged system.
People forget that in 2012 Donald Trump was in the mix to become the next President, however he was told he could not participate in the Republican debates. The same exact thing happened to Rand Paul this year. He did not want to stop campaigning for President, the GOP literally told him they would no longer allow him on the debate stage. Like it or not, on some level the entire system is rigged to a degree and apparently the majority of American citizens now agree. According a new study conducted by Reuters News, “more than half of American voters believe the U.S. system is rigged.”
The study was conducted via an online poll between the dates of April 21 – 26 and consisted of approximately 2,215 people – 1,582 of which were Americans. According to the results, when presented with the question “Agree or disagree: The current system of presidential primaries and caucuses are ‘rigged’ against some candidates?” 47.5% of people agreed. 23.6% disagreed with the statement and 28.9% were undecided or did not have an opinion for or against. Overall 51% of perspective American voters in the upcoming election believe that the system as a whole is rigged in general.
The study also went on to reveal that 71% or respondents said they would favor a direct vote for individual candidates on a single day rather than the current prolonged state delegate based system we see today. People point to the fact that when the primary season first began the Republicans had a field of 17 candidates. Today we are still in the process, some states haven’t even had a vote and yet the field of candidates available to vote for has shrunk down 3 – hardly fair or equal for every state.