Great question JB! …except this is not in the US and not a topic to disrupt or distract so the question will not be asked.
Get the ropes ready. Half of my relatives already have their helmets. What awful thing should the president call Jews for this that will satisfy nobody?
What fascinates me is that despite all these facts, the markets just keep going on as if there is no gravity. It is so surreal that what keeps markets up and makes them fall is so intangible.
Greyerz – The Greatest Crisis In World History Is About To Be Unleashed
August 15, 2017
Today the man who has become legendary for his predictions on QE, historic moves in currencies, told King World News that the greatest crisis in world history is about to be unleashed.
The Greatest Crisis In World History
Egon von Greyerz: “Totally irresponsible policies by governments and central banks have created the most dangerous crisis that the world has ever experienced. Risk doesn’t arise quickly as the result of a single action or event. No, risk of the magnitude that the world is experiencing today is the result of many years or decades of economic mismanagement. Cycles are normal in nature and in the world economy. And cycles that are the result of the laws of nature normally play out in an orderly fashion without extreme tops or bottoms…
Egon von Greyerz continues: “Just take the seasons. They go from summer to autumn, winter and spring, with soft transitions that seldom involve drama or catastrophe. Economic cycles would be the same if they were allowed to happen naturally without the interference of governments. But power corrupts and throughout history leaders have always hung on to power by interfering with the normal business cycle. This involves anything from reducing the precious metals content of money from 100% to nothing, printing money, leveraging credit, manipulating interest rates, taking total taxes from at least 50% + today from nothing 100 years ago etc, etc.
Governments will always fail when they believe that they are gods. But not only governments believe they perform godly tasks but also hubristic investment bankers like the ex-CEO of Goldman Sachs who proclaimed that the bank was doing God’s work. It must be remembered that Goldman, like most other banks, would have gone under if they and JP Morgan hadn’t instructed the Fed to save them by printing and guaranteeing $25 trillion. Or maybe that was God’s hand too?
Equities normally show the way. Keep a close eye on $23.25 for the GDX — I think the divisions in the US will negatively influence the US dollar.
Is Gundlach Right? Are The Gold Miners Breaking Out?
August 10, 2017
During the final hour of today’s trading session notable hedge fund manager Jeffrey Gundlach tweeted that the GDX was breaking out from a “textbook six month pennant formation” – adding that an up day tomorrow would confirm it:
This is a pure luxury market and reading it’s price development can tell you something about the underlying sentiment.
What the Heck’s Going On with Vintage Automobiles?
August 15, 2017
The fate of asset bubbles under the new regime.
Everyone is hoping that next Friday and Saturday, at Sotheby’s auction in Monterey, California, the global asset class of collector cars will finally pull out of their ugly funk that nearly matches that during the Financial Crisis. “Hope” is the right word. Because reality has already curdled. Sotheby’s brims with hope and flair:
Every August, the collector car world gathers to the Monterey Peninsula to see the magnificent roster of best-of-category and stunning rare automobiles that RM Sotheby’s has to offer. For over 30 years, it has been the pinnacle of collector car auctions and is known for setting new auction benchmarks with outstanding sales results.
This asset class of beautiful machines – ranging in price from a 1962 Ferrari 250 GTO Berlinetta that sold for $38.1 million in 2014 to classic American muscle cars that can be bought for a few thousand dollars – is in trouble.
The index for collector car prices in the August report by Hagerty, which specializes in insuring vintage automobiles, fell 1.0 point to 157.42. The index is now down 8% year-over-year, and down 15%, or 28.4 points, from its all-time high in August 2015 (186).
Of course inflation is rampant.
I can’t remember ever seeing steak at $12 – $18 a pound (and that’s at COSTCO!)
Or fish, like halibut at $25 – $28 a pound.
Cigarettes in NYC being raised 25% from $10.50 to $13.00 a pack.
But the hidden message in the article is this:
Inflation is not necessarily about prices all along the supply chain, but about PERCEPTION!
If people perceive inflation, it will feed upon itself and become a self fulfilling prophesy.
More importantly, perception of a weakening dollar could have serious detrimental effects on the entire system! Think Weimar.
CIGA Wolfgang Rech
EXPOSED: Regulators suppress truth about inflation & Fed policy to destroy the US Dollar
August 15, 2017
For savvy investors the fact that the US Dollar loses value every year is no surprise. CEO of JP Morgan (JPM) Jamie Dimon characterized this eloquently with an analogy of ‘musical chairs’ – basically that at some point some asset class has to blow up. There’s actually a reason for this, because in a debt based fiat monetary system, fresh credit needs to be created on a growing basis even to payback the interest on previous credit, or the system will implode (systemically speaking). The Fed knows this, bankers know this, CEOs – about 50% know this, Zero Hedge readers know this, most economists know this…
But this still remains a ‘secret’ of the FX business that regulators don’t want the average retail investing public to know. Now we’ve proven there is a conspiracy to keep these self-evident facts secret:
Inflation is much worse than the Fed is saying
There is a solution to inflation which is called hedging
WHY they don’t want folks to know this – well there can only be one reason. As we’ve exposed in previous articles, banks are making a fortune by people not understanding how FX works. If someone tries to explain it, in a way based on facts and substantiated – that simply can’t be allowed. If the Fed says inflation is 2%, then it’s official – inflation is 2%. Who is anyone to question the Fed?
President Nixon closed the gold window taking the USA off whatever was left of the Gold Standard. He placed the USA on the Petro Dollar system. Now that the Petro Dollar system is dissolving, not to recover, are we headed to the Total Nothing System akin to Bitcoin?
Today in 1971: President Nixon Closes the Gold Window
August 15, 2016
5 years ago today, on August 15, 1971, President Richard Nixon officially closed the gold window. While US citizens had been forbidden from owning gold or from redeeming their gold certificates for gold coins since the early 1930s, foreign governments still had the privilege of redeeming their dollars for gold. Due to the Federal Reserve’s inflationary monetary policy during the 1960s, foreign governments began to redeem more and more dollars for gold. Attempts to encourage other governments (especially France) not to redeem their dollar holdings were unsuccessful, and there was a very real threat that US gold holdings might eventually be exhausted. So President Nixon decided to close the gold window, thus severing the final link between the US dollar and gold. The removal of the restraint of gold redemption freed the Federal Reserve to engage in more inflationary monetary policy than ever. The effects of that on money supply and official price inflation figures are readily apparent.
5000 for the Resistance so far from lies to pure BS. Maybe, just maybe, one for Trump.
Special counsel’s Russia probe loses top FBI investigator
August 16, 2017
One of the FBI‘s top investigators, tapped by special counsel Robert Mueller just weeks ago to help lead the probe of Russian meddling in last year’s presidential election, has left Mueller’s team, sources tell ABC News.
The recent departure of FBI veteran Peter Strzok is the first known hitch in a secretive probe that by all public accounts is charging full-steam ahead. Just last week, news surfaced that Mueller’s team had executed a search warrant at the Virginia home of Donald Trump’s former campaign manager, Paul Manafort. And the week before that ABC News confirmed Mueller is now using a federal grand jury in Washington, D.C., to collect documents and other evidence.