Sep 19

gold-bars-737

- The Dow And S&P 500 Soar To Irrational Heights While The Ultra-Wealthy Rush To Buy Gold Bars (Economic Collapse, Sep 18, 2014):

Did you know that the number of gold bars being purchased by ultra-wealthy individuals has increased by 243 percent so far this year?  If stocks are just going to keep soaring, why are they doing this?  On Thursday, the Dow Jones industrial average and the S&P 500 both closed at record highs once again.  It is a party that never seems to end, and there are a lot of really happy people on Wall Street these days.  But those that are discerning realize that we witnessed the exact same kind of bubble behavior during the dotcom boom and during the run up to the last financial crash in 2007.  The irrational exuberance that we are witnessing right now cannot go on forever.  And the bigger that this bubble gets, the more painful that it is going to be when it finally bursts.  Those that get out at the peaks of the market are the ones that usually end up making lots of money.  Those that ride stocks all the way up and all the way down are the ones that usually end up getting totally wiped out. Continue reading »

Tags: , , , ,

Sep 19

- Nowhere To Hide As Minority Report-Style Facial Recognition Technology Spreads Across America (Economic Collapse, Sep 17, 2014):

What is our society going to look like when our faces are being tracked literally everywhere that we go?  As part of the FBI’s new Next Generation Identification System, a facial recognition database known as the Interstate Photo System will have collected 52 million of our faces by the end of 2015.  But that is only a small part of the story.  According to Edward Snowden, the NSA has been using advanced facial recognition technology for years.  In addition, as you will see below, advertising companies are starting to use Minority Report-style face scanners in their billboards and many large corporations see facial recognition technology as a tool that they can use to serve their customers better.  Someday soon it may become virtually impossible to go out in public in a major U.S. city without having your face recorded.  Is that the kind of society that we want? Continue reading »

Tags: , , , , , , , , , , , , ,

Sep 19

- “It’s Terrifying”: Rapid rise in babies with missing brains and spinal cords sticking out in area surrounding most contaminated nuclear site in US — Mother: Actual number is WAY higher than officials are reporting (VIDEO) (ENENews, Sep 16, 2014):

Tweet by JoNel Aleccia, former NBC News reporter, Sept 2, 2014: Five pregnancies with anencephaly in Central WA state with due dates this year. State, CDC plan interviews w/ moms

After writing reports on the extremely high rate of babies missing part of their brain (anencephaly) in the 3 counties surrounding the Hanford nuclear site, Aleccia left NBC News. She is now a staff writer at Seattle’s Fred Hutchinson1 Cancer Research Center and authored this Sept. 2, 2014 article: Outreach workers from the Fred Hutchinson Cancer Research Center are drawing on years of community connections in [the counties of Yakima, Benton, and Franklin] to raise awareness about a devastating cluster of severe birth defects that no one can explain… babies are born without parts of the skull and brain… 32 babies since 2010… there were five women in the region who reported they were pregnant with babies with anencephaly, all due later this year… “A lot of what we do is around cancer prevention, but when we hear of other things that also affect health disparities, we take it on.” State and federal officials are urging groups like the Fred Hutch team to help… Continue reading »

Tags: , , , , ,

Sep 19

US State Department spokesperson Jen Psaki

- State Dept.’s #AskJen Twitter campaign goes awry (RT, Sep 18, 2014)

Tags: , , , , , ,

Sep 19

The Archbishop of Canterbury, Justin Welby

- ​Doubting Thomas: UK Archbishop unsure of God’s existence (RT, Sep 18, 2014):

Britain’s’ most senior clergyman has said that thinking about global injustices has made him question the existence of God.

Archbishop of Canterbury Justin Welby admitted in front of a small public audience in Bristol that he ‘frequently asked’ whether God truly existed, and if “he should be doing something” about difficult situations.

Asked whether he ever doubted his belief by a BBC reporter, the Archbishop said that he did question Christianity at times. Continue reading »

Tags: , ,

Sep 19

Full article and photos here:

- Agafia’s story: Old hermit lives alone deep in Siberian forest, seeks help(RT, Sep 18, 2014):

Russian babushka Agafia, whose family fled civilization nearly a century ago, was born in the wilderness of the deep Siberian taiga. RT visited Agafia, who is the only living person of a family of the ‘Old Believers’ denomination of the Orthodox church.

In the mid-17th century, the leader of Russia’s Orthodox church, Patriarch Nikon, introduced radical reforms in Russia. Many couldn’t accept the changes and became known as ‘Old Believers.’

To avoid religious persecution first from the Orthodox Church and then from the Soviets, many families fled to some of the most remote corners of the country. Continue reading »

Tags: , , ,

Sep 19

- Household Net Worth Hits Record $81.5 Trillion In Q2 Driven By Stock Market Surge (ZeroHedge, Sep 18, 2014):

When earlier today, the Fed released its latest Z.1 (Flow of Funds report) for the second quarter, there were few surprises: thanks to the relentless liquidity injections by global central banks (charter here) resulting in record stock market levels, total household net worth rose once more, increasing by $1.4 billion in the quarter (up from a downward revised $1.2 billion in the previous quarter) to a record $81.5 billion. This was the result of a $95.4 trillion in total assets, offset by $13.9 trillion in liabilities, mostly mortgage debt of $9.4 trillion, as well as some $3.2 trillion in consumer credit.

Which means that yet another quarter has passed in which the bulk of “wealth creation” has benefited only the richest component of US society, something that even French economists have finally noticed. As for the non-rich… well, recall: “America’s Poor Have Never Been Deeper In Debt.”

How much longer can the stealthy wealth transfer of the Fed and its central bank peers, in which only the super rich benefit, continue? The answer is unknown, but if nobody has noticed yet, after some $26 trillion in net worth increases benefiting only the wealthiest Americans, then we doubt anyone will ever notice.

Tags: , , ,

Sep 19


11.09.2014

Description:
Continue reading »

Tags: , , , , , ,

Sep 19

- South African Rand Tumbles To 7-Month Lows As Central Bank Governor Steps Down (ZeroHedge, Sep 18, 2014):

In a surprise for the market, South Africa’s Reserve Bank chief Gill Marcus has announced she will not be available for another term when her contract is up in November. On the heels of an expected decision to leave rates unchanged, this has sent the Rand tumbling to its lowest since February. While Marcus exporessed every confidence in her successor, it appears the market is less confident (for now). Forget the economy, sell ZAR because the true leader of the nation’s wealth is to step down…

Tags: , ,

Sep 19

- This Seems To Be Going Well… (Sovereign man, Sep 16, 2014):

Gallup released a new poll late last week showing how many (or few, as it were) Americans are ‘satisfied’ with the direction of the country. 23%. That’s it. 76% are NOT satisfied. Only 1% aren’t sure.

The chart below shows the astounding, long-term decline since 2000.

gallup-us

Note, this is a trend that has outlasted three Presidents and six Congresses. It’s not about a single politician, or even ALL the politicians. It’s about the system itself.

Bottom line, people are fed up. The system has failed. And people are starting to realize it. Where do you think this goes?

Tags: , , , ,

Sep 19

SST_14_vs_CKJORC_15

- Gov’t Scientists: “Something very unusual occurring” off west coast of US, Canada — “Unprecedented in historical record” — “Will dramatically reduce productivity” in 6,500 sq. miles of ocean — Anomaly extends “across Pacific to Japan” — “Who knows what will happen?” (MAP) (ENENews, Sep 17, 2014):

Fishletter Issue 335, July 24, 2014 (emphasis added): There is a massive pool of warm water in the Gulf of Alaska, NOAA scientist Nate Mantua said in an email. It is unprecedented in the historical record, he added… the past year is way out of the historical range — “so who knows what will happen?

NOAA Fisheries, Sept. 2014: Scientists across NOAA Fisheries are watching a persistent expanse of exceptionally warm water spanning the Gulf of Alaska that could send reverberations through the marine food web. The warm expanse appeared about a year ago and the longer it lingers, the greater potential it has to affect ocean life… “Right now it’s super warm all the way across the Pacific to Japan,” said Bill Peterson, an oceanographer with NOAA… “it’s a very interesting time because when you see something like this that’s totally new you have opportunities to learn things you were never expecting.” Not since records began has the region of the North Pacific Ocean been so warm for so long… The situation does not match recognized patterns in ocean conditions such as El Niño Southern Oscillation or Pacific Decadal Oscillation… “It’s a strange and mixed bag out there,” Mantua said… warm temperatures are higher and cover more of the northern Pacific than the PDO typically affects… cold near-shore conditions in the Pacific Northwest also don’t match the typical PDO pattern. Continue reading »

Tags: , , , , , , , , ,

Sep 18

- Scotland Votes As Andy Murray Provides Last Minute Boost For “Yes” Camp; Wall Street Roundup (ZeroHedge, Sep 18, 2014):

The long awaited moment finally arrived after Scots began voting at 7am BST on whether to break away from the U.K. and end the 307-year union, even as latest opinion polls show the campaign against independence maintaining a narrow lead over those favoring independence.  And while the No’s are said to have a slim lead into the vote, even if it is really the Undecideds whose vote will determine the final outcome, somewhat surprisingly, the Yes camp got an unexpected boost just hours before the polls opened when 27 year old tennis star, and Scot, Andy Murray declared his support for Scottish independence in an 11th hour intervention on Thursday morning, after years of keeping silent on the issue.


What Happens When Scottish Voters Give It Their 110%, According To CNN
Scotland CNN

What is most disturbing is that this photo is just as likely to be real as fake.

(Source)

Tags: , , , ,

Sep 18

- The REAL Reason Britain is Freaking Out About Scottish Independence (Washington’s Blog, Sep 17, 2014):

David Cameron and the British media have been freaking out about the potential Scottish independence.

They’ve blathered on about “history”, “common defense” and other red herrings.

But it’s really all about oil …

Specifically, if Scotland becomes independent, it gets to keep 90% of the revenues from its huge oil reserves.

The New York Times reports: Continue reading »

Tags: , , , , , ,

Sep 18

- The Trolling Continues: Fed Chairwoman Expresses Her Condolences To America’s Poor (ZeroHedge, Sep 18, 2014):

As we discussed earlier in the week, Janet Yellen has released a speech this morning explaining how sorry she is about ‘the poor’ and why they need to get rich. In the speech below, she stresses, “how important it is to promote asset-building, including saving for a rainy day, as protection from the ups and downs of the economy,” despite falling incomes, rising costs, and extending credit, we assume she means. The Fed Chairman has some words of encouragement for the tens of millions of Americans who live at or below the poverty level, including that threatened with extinction class, affectionately known as “the middle.” Her message? It is important to build assets, or said otherwise…  get rich and she promises to “continue to promote asset-building.”

  • *YELLEN SAYS FIGURES ON POOR AMERICANS’ ASSETS IS `SOBERING’ (indeed! but not the rich eh?)
  • *YELLEN SAYS HOUSING CRISIS LEGACY STILL HURTING POOR AMERICANS (need another bubble)
  • *YELLEN: HOUSING IMPROVING, WILL STAY KEY FOR FAMILY ASSETS (as homeownership tumbles)
  • *YELLEN SAYS AMERICANS NEED MORE DIVERSIFICATION OF ASSETS (buy stocks too)
  • *YELLEN SAYS FED WILL `CONTINUE TO PROMOTE ASSET-BUILDING’ (count on the Fed to lift prices)
  • *YELLEN: CRISIS SHOWED VULNERABILITY OF LOW-ASSET HOUSEHOLDS (poor people should save more!)

Remember, one of our favorite charts, showing that while the rich hold assets, the poor are merely drowning in ever more debt: Continue reading »

Tags: , , , , , ,

Sep 18

- Gold Tumbles To 2014 Lows As China Unveils Anti-Rigging Benchmark (ZeroHedge, Sep 18, 2014):

With a Fed hinting at exit strategies, gold has tumbled to 2014 lows (and almost in the red year-to-date) as traders apparently forget Japan, China, and European central banks continue to (or are set to) print more money into the global reflation trade. It appears that as the West continues to sell ‘paper’ gold, the East remains enamnored as the PBOC announced this morning:

  • *CHINA TO FORM SHANGHAI GOLD BENCHMARK, PBOC GOVERNOR SAYS
  • *PBOC CHIEF ZHOU: GOLD MARKET IMPORTANT PART OF FINANCIAL MARKET
  • *SHANGHAI GOLD MARKET HAS TO AVOID SYSTEMIC RISK: PBOC’S ZHOU

Furthermore, traders have noted physical buying interest continues in the Asian region as premiums rise in China and India.

As Bloomberg reports, PBOC’s Zhou says Chinese gold market is crucial: Continue reading »

Tags: , , , , , ,

Sep 18

- It’s Not Just The Police – The Feds Are Also Militarizing Public Schools With Grenade Launchers, M16s & Tanks (Liberty Blitzkrieg, Sep 17, 2014):

Events last month in Ferguson, Missouri (read my detailed thoughts here) forced Americans to confront the frightening reality that many of of the nation’s police departments have been quietly, but consistently, militarizing over the past couple of decades. It’s one thing to intellectually understand that this has happened, it’s quite another to see cops deploy tanks and point sniper rifles at peacefully protesting U.S. citizens.

Just as disturbing as the scenes themselves, is the fact that this has been happening for so long under the 1033 transfer program with only muted criticism. The program was originated in the late 1990′s under the National Defense Authorization Act of 1997 (recall that the NDAA is also being used to allow for the indefinite detention of American citizens without trial), and it allows for the transfer of excess Department of Defense equipment to domestic police. In other words, it has been public policy for almost two decades to militarize the police.

With the issue squarely still in the public consciousness, it would behoove us to understand that this program is not only arming police with weapons of war. In fact, public schools are also receiving such items, including grenade launchers, M16s and MRAPs.

The Wall Street Journal reports that: Continue reading »

Tags: , , , , , , , , , , ,

Sep 18

- Scottish Independence: Politicians Love Democracy So Much They’re Trying To Subvert It (Sovereign Man, Sep 16, 2014):

The polls in Scotland will close this week on one of the more important elections in recent history… perhaps one of the only elections that actually matters.

Rather than a typical vote to see who the captain of the Titanic will be, Scots are deciding whether they want to be free and independent from the UK. Continue reading »

Tags: , , , ,

Sep 18

Eritrea-US-IRS

- An Appalling Practice Used In Only Two Nations, Of Which The US Is One (Doug Casey’s International Man):

It’s sort of an obscure story, but it’s also incredibly instructive.

That’s the story of how Eritrea—a tiny, mostly unheard-of country in East Africa—taxes its citizens who live abroad.

Eritrea is one of only two countries in the entire world that taxes its nonresident citizens on their global income. Specifically, Eritrea levies a flat 2% tax on the income of its citizens who reside abroad.

Nearly every other country in the world bases its tax system on residency rather than citizenship. Continue reading »

Tags: , , , , , , , , ,

Sep 18

- Russia To Deploy “Full-Scale Military Unit” In Crimea (ZeroHedge, Sep 17, 2014):

Just a day after NATO began military exercises (with troops from the US) near the city of Lviv in Western Ukraine, WSJ reports Russia’s Defense Minister Sergei Shoigu is responding to the “rising foreign military presence,” near Russia. In a not-so-de-escalatory move, Shoigu explained that NATO’s comments were “light-minded” and his ministry’s key task now is to “deploy a full-scale and self-sufficient force grouping” in the Crimea region.

First this…

Russian Defense Ministry official calls light-minded NATO general’s statements about Russian military presence in Ukraine

Then, as The Wall Street Journal reports, Continue reading »

Tags: , , , , , , , ,

Sep 18

muppets-kermit-dead

- Goldman’s Former Head Of Housing Research Predicts Housing Crash, Recession Within Three Years (ZeroHedge, Sep 17, 2014):

When a former Goldman executive and the prior head of its housing research team comes out with a shocking analysis so contrary to what the same individual would do in his “former life” when he would be extolling the “inevitable” rise of home prices from here to eternity and beyond, and also throw in an open letter to none other than president Obama, predicting at least a 15% crash in home prices in the next three years, a move which would without debt catalyze the next US recession, it is time to pay attention. Meet Joshua Pollard, who in February 2009 took over coverage of US Housing at Goldman Sachs.  His point, in short: “House prices are 12% overvalued today. They have already started to decline. Today’s misvaluation matches the excess of 2006-07, just before the Great Recession… 5 of the last 7 US recessions were led by a weakening housing market… I am lamentably confident that home prices will fall by 15% within three years.” Or, as some may call it, crash.

Tags: , , , ,

Sep 18

A firefighter battling the King Fire watches a backfire burn along Highway 50 in Fresh Pond

More photos here:

- California Is Burning: Postcards From The Inferno (ZeroHedge, Sep 17, 2014):

As if the drought was not disastrous enough for California, a consequence of the state’s dryness is that nearly 6,000 firefighters are battling 12 separate wildfires raging across the Golden State.

As the Cal Fire chief notes, “We’ve seen a lot more fires, and with those fires, more and more people are at threat. Every day we continue to see new fires ignite, forcing hundreds to evacuate,” and the following images from the infernos suggest there is no end in sight as “we start to see winds pick up and conditions are at their driest.”

Tags: , , , ,

Sep 18

Related info:

- ‘Moderate’ Syrian Rebels Sign Non-Aggression Pact With ISIS; Iraq Defies US


House Votes To Fund Arms To Moderate (For Now) Syrian Rebels (And Ex-Im Bank) – Live Feed (ZeroHedge, Sep 17, 2014):

*HOUSE HAS VOTES FOR U.S. AID TO SYRIAN REBELS; VOTE CONTINUING

Those sneaky politicians… The House has just begun voting on whether to amend the US Spending Bill to enable funding for Obama’s grand strategy of training “moderate Syrian rebels.

  • *SYRIAN REBEL AID IS PROPOSED AS AMENDMENT TO U.S. SPENDING BILL
  • *HOUSE BEGINS VOTE ON U.S. AID TO SYRIAN REBELS SOUGHT BY OBAMA

However, what few have also noticed is that the bill also includes an extension for funding the Export-Import bank.

Tags: , , , , , , , , , , ,

Sep 18

- Got (Record-High-Priced) Milk? (ZeroHedge, Sep 17, 2014):

Hot on the heels of yesterday’s low PPI and this morning’s falling CPI, we thought it worth noting (given The Fed’s pre-occupation that inflation is running too low) that the price of milk – that staple of the American diet – just hit an all-time high. Nope, no inflation here… Continue reading »

Tags: , , ,

Sep 18

The Fed’s Laughable GDP “Forecast” Just Got Even Funnier (ZeroHedge, Sep 17, 2014):

What in January 2012 was a 2014 GDP forecast range of 3.7%-4.0% collapsed to 2.1%-2.3% in June (because clearly the Fed couldn’t possibly forecast snow in the winter), and three months later is now 2.0%-2.2%. In short, a 43% forecasting error. Continue reading »

Tags: , , , , ,

Sep 18

- Abenomics Crushes Sony: Electronics Giant Forced To Cancel Dividend For First Time Ever (ZeroHedge, Sep 17, 2014):

It was over a year ago, when contrary to the propganda spewed on a daily basis by the Japanese government hell bent on destroying the domestic economy, now suffering its Keynesian death rattle, just to push stocks to highs which nobody except for a few thousand people will be able to monetize on, that the CEO of Sony explicitly warned that “the preconception is that a weaker Yen is good overall. Unfortunately for us, versus the USD, it goes the other way… we are actually at a disadvantage.” He wasn’t kidding and just under a year later, back in May, Sony shocked everyone when the electonics giant not only posted a massive net loss of $1.3 billion, far worse than previously expected, but also slashed its profit outlook by 70%.

Fast forward to today, when minutes ago the Yen hit another multi-year low against the dollar, which sure enough, is great for the nominal value of Japanese stocks, if horrible for the actual Japanese companies, the Japanese middle class, and pretty much everyone except for a few superrich people. Such as Sony. Because the (now former) electronic giant, which once upon a time was the target of an activist campaign by none other than Dan Loeb who mysteriouly saw value in the company, once again stunned everyone when it reported overnight that it expects its annual loss to swell to $2 billion, but, far worse, canceled the payment of its dividend for the first time ever after writing down the value of its troubled smartphone business.

 Needless to say, Sony’s stock which doubled in 2013 for the completely wrong reasons, is now crashing. Continue reading »

Tags: , , , , , ,

Sep 18

- ISIS Releases New Video, Warns “Fighting Has Just Begun” (ZeroHedge, Sep 17, 2014):

The Islamic State/ISIS/ISIL has released its initial ‘rebuff’ propaganda response to President Obama’s declaration of war against the ‘non-islamic’ terrorist organization. The brief video entitled “Flames of War” is shot like a blockbuster-movie-style trailer and threatens US troops and the White House. As Politico reports, the militant terror group vows that the “fighting has just begun” in the minute-long video, which features clips of American military forces under fire and a wounded U.S. soldier being taken from the battlefield. The video concludes as the words “Flames of War” flash on the screen, followed by “Fighting has just begun” and ends ominously: “Coming Soon.” Even more concerning perhaps is al-Qaeda branches calling for all jihadists to unite against the common threat from a US-led coalition.

Brief Michael-Bay-esque video below (warning: disturbing and graphic images)

Continue reading »

Tags: , , , , , , , , , ,

Sep 18

- Which Global Hegemon Is on Shifting Sands? (Of Two Minds, Sep 17, 2014):

Given that all the leading candidates for Global Hegemon are hastening down paths of self-destruction, perhaps there will be no global hegemon dominating the 21st century.

Which nation with aspirations of global dominance (i.e. hegemony) has these attributes?

1. The nation’s recent prosperity is based on a vast expansion of credit.

2. The nation has 100+ million obese/diabetic citizens. Continue reading »

Tags: , , , , , ,

Sep 18

FYI.


- Seth Klarman: “We Are Recreating The Markets Of 2007″ (ZeroHedge, Sep 17, 2014):

Exceprted from Seth Klarman’s Baupost letter to investors,

We don’t know now (nor do we ever know) what the overall market will do. As we’ve discussed in recent letters, there are reasons for investors to be frightened but also numerous individual opportunities worth seizing. Today’s limited opportunity set means that we are still holding sizable cash balances, about 35% of the portfolio at June 30. This dry powder will become more valuable if the markets become more turbulent.

Equity markets continue to hit successive record highs, volatility remains strikingly low in equity and most other markets, and inflation is ticking higher. Investors have clearly grown weary of worrying about risky scenarios that never seem to materialize or, when they do, don’t seem to matter to anyone else. U.S. GDP, for example, was recently restated to minus 2.9% for the first quarter of 2014. Normally, this magnitude drop signals recession. Equities, nevertheless, marched relentlessly higher. Continue reading »

Tags: , , , , , , , , ,

Sep 18

From the article:

“It’s the final excesses and steps of a broke society. It’s madness to the power of infinity. The only thing that’s certain is that in the end, your money will all be gone. That’s how Mario Draghi ‘saves’ the EU for a few more weeks, and that’s how the big boys of finance squeeze more from what little you have left (which is already much less than you think).

A world headed for nowhere.”

- Debt Rattle Sep 16 2014: Subprime Is Back With A Vengeance (The Automatic Earth, Sep 16, 2014):


CarOnSlope1920
Christopher Helin Franklin car on slope, San Francisco. 1920

A few days ago, I wrote an essay about how ECB head Mario Draghi seeks to redefine the definitions of certain words and terms, like the one that define financial instruments, because he needs to find hundreds of billions in new spending money in Europe without adding to the behemoth existing debt (Germany won’t let him do that). And yes, that is indeed as impossible and meaningless as you think it is. But these are desperate times.

Thing is, I called that essay Draghi To Save Europe With Semantics , and maybe I shouldn’t have, because it’s obviously not the most sexy and catchy title on the planet, but my problem there was, it captures what I was talking about. And it’s all much broader and bigger than that, but then that’s what the article tries to explain.

Moreover, the financial press also catches up. To the fact that semantics and re-defining are the flavor du jour, once again, just like they were in 2005-6-7. When ratings agencies used the confusion about what things actually mean to stamp AAA ratings on everything including your kids’ snot nose tissues and toilet paper. And that is an important development, if you care about preserving some of your remaining wealth. Which I think you’d like to do, so please bear with me. Continue reading »

Tags: ,

Sep 18

H/t reader squodgy.


Terrorism

- TUT Broadcast Sept 17, 2014 (The Ugly Truth):

Pt. I–Back door war with Syria using ISIS/ISIL as the pretext, the real goal being the dismemberment of the building anti-Zionist coalition building between countries such as Syria, Iran, Russia and Latin America

Pt. II–reading of the recent essay Zionist Terrorism, from the book of Genesis to modern day Gaza and beyond–None dare call it Judaism.

Listen Here

Tags: , , , , , , , , ,