Posts Categorized: In The News

Posted by & filed under In The News.

Bill Holter’s Commentary

“the link you tried to visit goes against our community standards”…because it tells the TRUTH!

I predicted these social media sites would ultimately implode via their own false narratives, it looks like they are now well on their way!

Facebook Bans Zero Hedge
March 12, 2019

Over the weekend, we were surprised to learn that some readers were prevented by Facebook when attempting to share Zero Hedge articles. Subsequently it emerged that virtually every attempt to share or merely mention an article, including in private messages, would be actively blocked by the world’s largest social network, with the explanation that “the link you tried to visit goes against our community standards.”

More…

Jim Sinclair’s Commentary

Mr. Williams of shadowstats.com offers the following.

– Latest Retail Sales, Employment and Monetary Base Show Increasingly Negative Economic Trends
– January 2019 Retail Sales Signaled a Downside Revision to Fourth-Quarter 2018 GDP, Along With an Early Indication for a First-Quarter 2019 GDP Contraction
– Annual Growth in February 2019 Payrolls Slowed in a Manner Consistent With a Faltering First-Quarter Economy
– February 2019 Saint Louis Fed Adjusted Monetary Base Declined Year-to-Year by 13.0% (-13.0%), Worst Showing Since 1937 Onset of Great Depression Second Down Leg
– Reporting of Broad U.S. Economic Activity Signals a New Recession, While Major Sectors Such as Manufacturing and Construction Never Recovered from the Last One
– The FOMC Should Be Feeling Increased Pressure to Ease, But Action Still Is Not Likely Next Week

Bullet Edition No. 2

www.shadowstats.com

Today – Silver is leading the charge!
March 12, 2019

Good Tuesday Morning Folks,   

      It looks like those that remembered are still in the game as Gold turned higher immediately after the reopening of trade last night with the price now at $1,296.80 up $5.70 and close to the high of $1,297.90 then that low at $1,292. Today, Silver is leading the charge with its trade at $15.425 up 15.1 cents and it too right beside the high at $15.45 with a low at $15.31. Today’s activity is definitely NOT about the Dollar because it has been stagnant for oh too long with the trade now at 96.13 down 4.4 points but inside an active trading range between 97.245 and 96.885, of course all this is done way before 5 am pst and the Comex Open. The failings in Venezuela are many with more failings being introduced with fake players getting exposed, with Gold now trading at 12,951.79 Bolivar, gaining a whopping 21.97 (one day this will be in US$) overnight with Silver gaining 1.198 Bolivar with the price now at 154.057.     

      March Silver’s Delivery demands are now at 414 contracts waiting for receipts for physical with a Volume of 3 up on the board so far this morning losing 121 receipts somewhere between here and London. It is important to understand that Harvey Organ’s numbers show the totals bought and sold but only in receipts transferred, after these trades in the “spot” month are made. Some of these trades are “allowed” because the traders are playing the game with the required 100% margins but never take delivery. This is why spot month trading is so misunderstood by most that do not play the game but write about it, and is why we help define the process. Silvers Overall Open Interest is continuing to fall ever so slightly with the total count now at 190,953 Overnighters proving a drop in OI from yesterday’s early morning count by 1,040 obligations.    

More…

Posted by & filed under In The News.

Bill Holter’s Commentary

Did the Tylers listen to this week’s call for subscribers? Denny point blank asked this very same question on Saturday…without a doubt, THE most important financial question facing our nation.

The $64 Trillion Question: With Foreigners Stepping Aside, Who Will Buy U.S Treasuries?
March 10, 2019

During its latest, quarterly meeting, the Treasury Borrowing Advisory Committee (aka the TBAC, which many years ago we dubbed the Supercommittee That Really Runs America, an assessment which 8 years later Bloomberg now generally agrees with), released minutes of its Jan. 29 meeting held at the Hay-Adams Hotel in conjunction with the U.S. government’s quarterly refunding announcement.

While there were many topics of discussion (discussed previously here), the TBAC highlighted two key areas of concern: i) the soaring US budget deficit, and specifically the possibility of significant financing gap over next 10 years amounting to over $12 trillion and the potential need for more domestic investor participation if foreign reserve growth slows; and tied to that ii) the worry that since “foreign investors already hold significant dollar debt”, and have been paring back substantially on their Treasury purchases in recent years, the US will have to increasingly rely on domestic savings to fund its future budget deficits.

Of particular note, the TBAC said, tongue in cheek, that while the “USD is still the dominant reserve currency”, reserve managers have been very gradually increasing allocation to other currencies, and that the USD share of FX reserves has steadily come down from 72% in 2000 to 62% now. It also pointed out that other countries with significant debt issuance needs (as a share of GDP) depend far more on domestic savings. As a result, “the Treasury should plan to meet financing needs more domestically than in the recent past.”

More…

Silvers US$ Value Should Already Be At The Bolivars Price
March 11, 2019

Good and Wonderful Monday Morning Folks,   

      Remember that Gold had a good day on Friday where it rallied just over 1%. Also remember that good days like these are almost never allowed to have a second or third day of rally with today being no different with Gold now at $1,294.60 down $4.70 and right at the London Low of $1,294.20 with the high at $1,299.20. Silver, the Tag-A-Long-Kid, is now trading at $15.305, down 4.4 cents and at the low of $15.285 with the high to beat at $15.365 after its 30 cent price rise on Friday. The US Dollar is up but barely with the value now pegged at 97.30, up 3.1 points and closer to the low of 97.23 then the high at 97.41. All this of course is done way before 5 am pst and the Comex Open. The Venezuelan nightmare continues with Gold now pegged at 12,929.82 Bolivar gaining 5 more Bolivar over the weekend with Silver at 152.859 it too gaining 1.698 Bolivar as we read that the people of the country have now been without power for four full days.

           March Silver’s Open Interest is the same as last Friday’s numbers which means we still don’t have good up to date data with the count at 535 requests for physical with 0 Volume up on the board so far this morning. We do a have a buy order for 33 more obligations at $15.215 (March) with no takers as of yet proving someone still needs product. Silver’s Overall Open Interest lost 143 contracts with the total count now at 191,993 Overnighters still in trade as we wait for better data later in the day.  

       Theresa May is expected to call a second meaningful vote on her Brexit plan (Today), the prime minister is facing another massive defeat .. But according to MPs and cabinet ministers who have shared their grievances with the Telegraph, BBC and other British media outlets, it’s possible that May could be forced to resign before she gets there. It seems everything is tied to Britain so we wait to see if anyone else out there sees the precious metals as a safe haven as things continue to get wonky in all currencies and as the British Pound may be the next to take a hit.  

More…

Posted by & filed under In The News.

California State Workers Hoarding Vacation Days, Creating $3.5-Billion Debt For Taxpayers
March 7, 2019

After 36 years as a California government transportation engineer, Bijan Sartipi retired with much more than a goodbye party: He was paid $405,000 for time off he never used — one of more than 450 state workers who took home six-figure checks when they left their jobs last year.

And Sartipi didn’t top the list — a prison surgeon in Riverside pocketed $456,002.

In a trend that stems from lax enforcement of the state’s cap on vacation accrual, more and more state workers are able to retire with massive payouts for unused vacation and other leave. That could become a budget breaker for California as an aging workforce heads into retirement. During the next recession, California will be obligated to continue the payouts, forcing lawmakers to cut programs to balance the state budget.

More…

Bill Holter’s Commentary

This is a true story, I termed this “debt saturation”. There is no mathematical escape…

The Dollar – King Rat Of Failing Currencies
March 7, 2019

The explanation for the sudden halt in global economic growth is found in the coincidence of peak credit combining with trade protectionism. The history of economic downturns points to a rerun of the 1929-32 period, but with fiat currencies substituted for a gold standard. Government finances are in far worse shape today, and markets have yet to appreciate the consequences of just a moderate contraction in global trade. Between new issues and liquidation by foreigners, domestic buyers will need to absorb $2 trillion of US Treasuries in the coming year, so QE is bound to return with a vengeance, the last hurrah for fiat currencies. However, China and Russia have the means to escape this fate, assuming they have the gumption to do so.

Introduction

It may be too early to say the world is entering a significant economic downturn, but even ardent bulls must admit to it as an increasing possibility. Financial analysts, both bovine and ursine, face a complex matrix of factors when judging the future effect of any downturn on currencies, and of the prospects for the dollar in particular.

Some will take the view that a global downturn will continue to drive foreign currencies to be sold for dollars, because dollars are perceived to be less risky and required to repay debt. Some will point to the tension in the euro from the extra twist an economic downturn gives to the debt crisis forced on Italy and the other three PIGS, compared with the relative stability of the Hanseatic nations. Some analysts will expect China to get her come-uppance when her debt-fuelled economy implodes into crisis.

More…

Philadelphia Is First U.S. City to Ban Cashless Stores

March 7, 2019

Philadelphia is the first major U.S. city to ban cashless stores, placing it at the forefront of a debate that pits retail innovation against lawmakers trying to protect all citizens’ access to the marketplace.

More…

Posted by & filed under In The News.

Jim Sinclair’s Commentary

From our friend Mr. Williams, who is seeing clearly.

INTRODUCING THE BULLET EDITION. Supplemental to regular ShadowStats Commentaries, Watches and the Daily Update postings, the new ShadowStats Bullet Edition conveys brief communications and analyses on limited topics of particular near-term significance (the initial issue covers the trade deficit).
Your comments and suggestions always are invited. Best wishes, John Williams
This Edition:
– Some Observations on a Sharply Deteriorating Trade Deficit
– Real Merchandise Trade Deficit Just Hit Its Worst Level Ever; Annual and Fourth-Quarter 2018 Deficits Were Deepest in History
– Unfolding Trends Have Horrendous Implications for GDP 

“Bullet Edition No. 1”
www.shadowstats.com

Posted by & filed under In The News.

Bill Holter’s Commentary

While perusing headlines I came across these China related article.  Isn’t China supposed to be the global engine of growth?

https://www.zerohedge.com/news/2019-03-04/deflationary-red-alert-chinese-car-dealers-are-slashing-prices-and-its-not-helping

https://www.zerohedge.com/news/2019-03-04/thousands-fired-chinese-tech-companies-amid-sudden-breakout-austerity

https://www.zerohedge.com/news/2019-03-04/china-cuts-taxes-gdp-target-6-65-key-highlights-peoples-congress

…and then there was this one, I guess the best one can say is BOOM!

https://www.zerohedge.com/news/2019-03-04/it-begins-chinas-largest-properties-developer-will-sell-all-homes-10-discount

Bill Holter’s Commentary

This one is filed under the category, pure unadulterated bullshit…!

Aide: US Hasn’t Used Phone Data Collection Program In Months
March 5, 2019

WASHINGTON (AP) — A secret U.S. global surveillance program that was revealed to the public by former National Security Agency contractor Edward Snowden has been at least temporarily halted, according to a senior congressional aide.

The NSA program, which involved the mass collection of information about phone calls, has not been used over the past six months, the aide, Luke Murry, said in a podcast interview.

Murry, a specialist in national security who works for California GOP Rep. Kevin McCarthy, did not go into detail about why the program was halted but mentioned “problems” with the way information was collected.

McCarthy’s office would not comment Tuesday beyond a written statement that noted Murry was not speaking on behalf of the Trump administration when he gave the interview to the Lawfare podcast.

More…

Posted by & filed under In The News.

Weekly Update: Another Clinton Cover-Up
February 22, 2019

Judicial Watch Sues for Coup Documents

Andrew McCabe, the former deputy director of the FBI, fired after being accused of lying by the DOJ Inspector General, is having his day, boasting of what is effectively a coup attempt against President Trump.

We’d like to know more about that, and we have filed a Freedom of Information Act (FOIA) lawsuit against the U.S. Department of Justice for all records of communications of McCabe, the Office of the Attorney General Jeff Sessions, or the Office of Deputy Attorney General Rod Rosenstein discussing the 25th Amendment or presidential fitness.

Additionally, we are seeking all recordings made by any official in the Office of the Attorney General or Deputy Attorney General of meetings in the Executive Office of the President or Vice President.

We sued after the Justice Department failed to respond to three separate FOIA requests dated September 21, 2018 (Judicial Watch v. U.S. Department of Justice (No. 1:19-cv-00388)). Our lawsuit seeks all written and audio/visual records of any FBI/DOJ discussions regarding the 25th Amendment and plans to secretly record President Trump in the Oval Office.

More…

Bill Holter’s Commentary

Of interest from Clive Maund.

Gold Market Update
February 19, 2019

Gold has been turned back so many times in recent years from the strong resistance approaching the $1400 level, that most investors have now been well trained, like Pavlov’s dog, to expect it like clockwork, and as we know, it is just when this mindset prevails that gold is likely to surprise the majority by actually breaking out above this level.

Looking at our latest 10-year chart for gold it’s not hard to see why most investors are defeatist about gold’s chances of breaking out. After all it has made 5 more serious attempts to break above this level since mid-2013 and all have failed. Even if they see what we see on this chart, which is gold approaching completion of a giant complex Head-and-Shoulders bottom, they are still skeptical. They will mutter something about “The Cartel” and their power to clobber gold at will by manufacturing an infinite supply of paper shorts, which they then dump on the market when most of us are asleep – isn’t it supposed to be 300 to 1 leverage now, or is it 3000 to 1? – I’ve lost track. Their dastardly objective, we are told, is to maintain confidence in the fiat money system for as long as possible, because they can point to gold’s feeble performance and say “Look, if it’s so bad, why isn’t gold going through the roof?” This negative outlook towards gold is of course promoted by the MSM (mainstream media), one of whose Prime Directives is to keep the average investor on the wrong side of the trade.

More…

Posted by & filed under In The News.

Jim Sinclair’s Commentary

Mr. Williams share with us the REAL numbers.

– U.S. Economy and Markets Are Transitioning, and It Is Not Good News
– Excessive FOMC Rate Hikes and Tightening of the Last Year Have Pushed the Economy to the Brink of a New Recession, Exacerbated by the Shutdown
– Headline Back-to-Back First- and Second-Quarter 2019 GDP Contractions Likely Follow Still-Pending Reporting of Sharply Slowing Fourth-Quarter 2018 GDP; Consider Plunging Retail Sales, Production, Manufacturing and Freight Activity
– Unprecedented in 100 Years of Reported U.S. Manufacturing Activity, December 2018 Marked a Record Eleven Full Years of Economic Non-Expansion
– January 2019 Monetary Base Suffered Its Steepest Annual Decline Since Triggering the Second Down-Leg of the Great Depression
– Income Dispersion Worst Since Before the 1929 Stock Crash and Great Depression
– With a Tanking Economy, the Stock-Market Sell-Off Is Far from Finished; Political Discord in Washington Should Exacerbate and Intensify Market Instabilities
– Does This Concern the FOMC and Government Policy Makers? It Should!
– Driven by Energy Prices, 2018 Annual Inflation Measures Hit Multi-Year Highs, Not Driven by the FOMC Rate-Hike Canard of an Overheating Economy
– Time for Congress to Revisit the Concept of the Federal Reserve?
– U.S. Treasury Fiscal Operations Are Not Sustainable, Threatening Ultimate Financial-Market and U.S. Dollar Turmoil 

No. 983a: Updated ALERT, Advance Economic and Financial-Market 2018-2019 Review and Preview

www.shadowstats.com

Bill Holter’s Commentary

This unfortunately is correct…

Posted by & filed under In The News.

Tom Fitton: Bill Barr Needs to Step Up and Defend Trump
February 19, 2019

More…

Bill Holter’s Commentary

Webster’s dictionary might want to use this chart for its definition of monetization?