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All Signs Point to Full-Speed-Ahead Fed Tightening: Core CPI Soars To 7-Year HighAug 10, 2018 - 06:19:27 PDT
Between Fed language changes indicating an "extremely strong" economy and now rip-roaring inflation from the Fed's favorite indicator, those wishing for further economy-stoking rate cuts, or least a pause in rate hikes, are likely out of luck.
Harvey Organ: For The 2nd Straight Big Delivery Month NO GOLD Is Entering COMEX For DeliveryAugust 10, 2018
Harvey Organ is rather surprised today, and it all has to do with COMEX gold and the "delivery" process. Here are the details...
Increasingly Desperate Erdogan Tells Turkish Citizens to Sell Their Gold and Buy LiraAug 10, 2018 - 05:37:58 PDT
After admonishing the Turkish people to sell the USD and buy gold several months ago ("Turks Follow Erdogan's Call to Get Rid of Dollars & Buy Gold"), the dictator-in-all-but-title now commands them to sell that gold and buy more-worthless-by-the-day lira in his bid to maintain political control.
China Digs in for Protracted Trade War: "An Elephant Can't Hide Behind a Sapling"Aug 10, 2018 - 05:16:10 PDT
Asserting its status as an equal, elephantine power on the same level as the US, China offers a sarcastic rebuke to those who have it tone down its response to Trump's tariffs, dismissing the idea it should stand down so "the United States will raise its hand high in mercy."
The Swiss National Bank Prints Fiat, Buys US Stocks, Rakes in Over $1B in DividendsAug 10, 2018 - 05:08:20 PDT
Closer and closer to the abyss of fiat no return. The SNB has been buying stock in dividend-yielders like AT&T (in addition to tech high flyers like AMZN and AAPL) on the open US market. With what? Currency they print out of thin air, of course. Then they sit back and rake in fat USD dividend checks.
Turkish Lira Collapses to All-Time Low Against USD; Erdogan's Response? "We Have God"Aug 10, 2018 - 04:29:53 PDT
As Erdogan adheres to the Maduro corruption and hyperinflation playbook, he continues to get similar results. And in true despot fashion, as he runs the country into chaos and poverty, he tells citizens that starvation and violence won't be problems, because, "God."
A Totally Awesome 2000 Year-Old Gold Earring Was Just Discovered In Ancient Ruins In JerusalemAugust 9, 2018
For an earring that's 2000 years old, it sure is refined with a ton of detail. Here's a look at the earring and the historical significance of the find...
"The increase came as there increasingly appeared to be a correlation between the gold price and the valuation of the Chinese yuan, both of which..."
Consumer Debt Hits Record $3.87 Trillion; Could the Debt-Based House of Cards Be Close to Collapse?August 9, 2018
Consumer debt hit another record in the first half of 2018, but the rate of borrowing seems to be slowing down. Could this be a sign that the debt-based house of cards economy is close to the point of collapse?Total consumer debt rose by $176 billion in Q2, a 4.8% year-on-year increase. That pushed total debt to a record $3.87 trillion, according to numbers released by the Federal Reserve.
The federal government is borrowing money at levels one would expect to see during a major economic crisis. According to the Congressional Budget Office, the federal deficit for the fiscal year 2018 will come in at around $804 billion. That is expected to balloon to around $985 billion in fiscal 2019.Does that seem pretty bad to you? Well, it's even worse than you think.If you look at the increase in the federal debt, you'll find that it is bigger than the deficit. How can this be? The government simply excludes some of the money it borrows in the deficit.
The Bottom Is Likely In And A Reversal To The Upside In Gold & Silver Is Likely IMMINENTAugust 9, 2018
Here's an Elliott Wave look at gold and silver, which have become very oversold with bearish sentiment and technical indicators that are extreme...
Aug 9, 2018 - 11:28:37 PDT
The stock market is priced for absolute perfection going forward, And even if it's delivered (can't be, won't be), little upside remains to be won. If anything at all goes wrong? Historical averages suggest Dow, S&P, and Nasdaq declines in the 60%-70% range.
"What is strange is that the U.S. already has a space-based military footprint: The sky is teeming with spy satellites and other platforms that support government surveillance, communications, weather forecasting and other activities. The Air Force also has a top-secret aircraft, the X-37B, built by Boeing Co., which orbits the earth for extended periods. But why spend less, when one can spend more?"
"Consumer debt rose 4.8% in the second quarter from a year earlier, or by $176 billion, to $3.87 trillion (not seasonally adjusted), the highest ever, according to the Federal Reserve. This includes credit-card debt, auto loans, and student loans, but not mortgage-related debt."
Trump Appointed EBRD Director Has A Golden Idea For A New International Monetary SystemAugust 9, 2018
Many are suggesting now may be the time for a new monetary system, including this Trump appointed gold standard advocate. Here's more...
Alasdair says the crisis could begin within months, but to those thinking the dollar will benefit from the crisis, Alasdair has an argument to the contrary...
The Worst Bank Behavior Is Never Revealed: "We’ll Never Know How Bad the Federal Reserve Is"Aug 9, 2018 - 07:34:45 PDT
The central bank first hides its reports on just how vulnerable and overextended big banks are for 30 years, refusing to release them to the public. Then it destroys them.
Aug 9, 2018 - 06:22:44 PDT
As swampy as swampy gets, as fine-print manipulation sends more billions in fresh debt spending straight to banks. "How many members of Congress, let alone members of the public, understood that ‘financial services' didn’t mean banking, and therefore that bankers would get a massive tax cut?"
Aug 9, 2018 - 06:13:24 PDT
How much is the nicest mansion in America worth post-apocalypse when 1,000 zombies are marching up the driveway? If you can't move an asset out of the way of clear-and-present, immediate danger, it ain't worth much. Physical gold? Highly portable.
The US is trying to bring China to its knees, but China is fighting back, and what happens next has consequences for gold...