Aug 26

Published on Aug 25, 2016

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Aug 25

giant bubble

“Central Banks Now Own $25 Trillion Of Financial Assets”:

With 85% of Wall Street telling Citi they expect a “dovish hike signal” from Yellen tomorrow, which means a polite request for another BTFD opportunity, even if as BofA says “expectations for a dovish Fed are coinciding with macro strength in the US (most obviously in housing & consumer spending) as well as highest level of wage inflation since Jan’10“…

wage expectations

… here is a quick reminder of where we currently stand from BofA’s Michael Hartnett, from a brief note titled The Liquidity Supernova & the “Keynesian Put.”

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Risk assets are now supported by the new ”Keynesian Put”, the expectation that fiscal measures will be deployed to combat any renewed weakness in the economy/markets (independently of any larger political projects). But asset prices remain primarily supported by excess monetary abundance across the world: Continue reading »

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Aug 23

Mario-Draghi-laughing

Madness In Mario-World: European Companies Issue Debt Simply Because The ECB Will Buy That Debt:

Things are so absurd in the Eurozone that the ECB is buying private placement debt with little regard for safety. In turn, private equity companies issue debt simply because they know in advance the ECB will buy it. It’s a startling example of how the market is adapting to extremes of monetary policy, and it’s a safe conclusion the experiment will not end well.

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Aug 23

The ECB is still purchasing €80 BILLION of ‘bonds’ every month!


Mario-Draghi-Just-Evil

Revealed: ECB Secretly Hands Cash to Select Corporations:

In June, the ECB began buying the bonds of some of the most powerful companies in Europe as well as the European subsidiaries of foreign multinationals. This pushed the average yield on euro investment-grade corporate debt to 0.65%. Large quantities of highly rated corporate debt with shorter maturities are trading at negative yields, where brainwashed investors engage in the absurdity of paying for the privilege of lending money to corporations. By August 12, the ECB had handed out over €16 billion in freshly printed money in exchange for corporate bonds.

Throughout, the public was given to understand that the ECB was buying already-issued bonds trading in secondary markets. But the public has been fooled.

Now it has been revealed by The Wall Street Journal that the ECB has also secretly been buying bonds directly from companies, thus handing them directly its freshly printed money. Continue reading »

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Aug 19

Paul Singer Says “Everyone Is In The Dark”; Warns Of “Sudden, Intense Market Breakdown”:

“This is the biggest bond bubble in world history… Everyone is in the dark… the ultimate breakdown from this environment is likely to be surprising, sudden, intense, and large.”

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Aug 06

BofA: “45% Of The Global Bond Market Is Now Compromised By Central Bank Buying”

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Aug 05

Only In China: Companies Become Banks To ‘Solve’ Financial Difficulties:

China is desperate to solve several problems it has due to its debt to GDP ratio being north of 300 percent. It may have found a pretty unconventional one by letting companies become banks…

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Aug 03

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Aug 02

Fitch Sees $3.8 Trillion Of Losses For “Investment-Grade” Sovereign Bond Investors:

Fitch finds that a reversion of rates to 2011 levels for $37.7 trillion worth of investment-grade sovereign bonds could drive market losses of as much as $3.8 trillion..

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Jul 29

Obama_debt_star

“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.”
– Barack Obama


US-National-Debt

Under Barack Obama, National Debt Increases $100 Million Every Hour of Every Day:

hat took other presidents more than 200 years to do, Barack Obama has done in one year, and he continues doing it year in, year out.

During the Barack Obama administration, $1.1 trillion dollars has been added every year to the national debt.

This is not exactly the legacy one would expect from a man who, as a senator in 2006 said that “increasing America’s debt weakens us domestically and internationally. Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren.” Continue reading »

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Jul 29

sinking-dollar

Get ready for America’s new $29 trillion debt:

According to Jacques Necker, everything was just fine.

The year was 1781, and Necker, France’s finance minister, had just published a report called Compte Rendu au Roi, an accounting of French public finances.

Necker’s report showed that, despite extraordinary public services and military spending, France had a net credit position of +10 million livres.

In other words, the country was in perfect fiscal health.

It turns out that Necker had cooked the books.

Rather than being 10 million on the positive side, France had racked up 520 million livres worth of debt and could no longer afford to pay interest. Continue reading »

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Jul 27

Jul 26, 2016

In this special 2016 Summer Solutions episode, Max and Stacy talk to Das, author of ‘A Banquet of Consequences: The Reality of Our Unusually Uncertain Economic Future’, about the structural changes needed to halt the decline in real wages. They also discuss financialization, economic apartheid and debt jubilees.

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Jul 22

Crushing Debt Has Taken the Economy Hostage: “Going to Implode. It’s a Certainty”:

This article was written by Joshua Krause and originally published at The Daily Sheeple.

Editor’s Comment: Few things are more reassuring than certainty. And one certainty you can bet on is that this house of cards won’t last. How much farther can things be stretched thin? How much more can the world take? The looming implosion of the global economy is a question of when, not if.

There is a great deal of anxiety about when and how things will go down, and how the world will react. But no one can really doubt whether or not the system is sound… in fact, it is entirely certain that it isn’t. Too many have taken on way more than they can handle, and the future looks simply disastrous. Beware and be forewarned.

It Looks Like the Global Debt Bomb Is Ready to Blow

by Joshua Krause

In recent years we’ve seen global debts soar to heights never before seen in human history. Before the financial crisis of 2007 and 2008, public and private debts were already out of control, but when the governments of the world tried to keep the global economy together with all their might, they did so by going into debt, to the tune of over $200 trillion. And that’s just what the numbers looked like the last time anyone checked back in 2014. Who knows how much debt the world is in now. Continue reading »

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Jul 21

Jul 17, 2016

Description:

On the economy crashing this year, investment banker and former Assistant Secretary of Housing, Catherine Austin Fitts says, “Could we turn into a bear market? I think given the commitment to equity markets and given the willingness to debase the currency, I think the chances of that are relatively small this year. Next year, depending on what happens in the election, the gloves are going to come off globally about what’s been going on in the U.S. Anything could happen. That’s the danger if you are an investment advisor or an investor. The swings here is we could be up 30%, or we could be down 50%. A black swan could happen, so if you are an investor, you need to be prepared for very, very wide swings both up and down in prices in the equity markets. Here’s the important thing to remember. . . . We now have $12 trillion sitting in negative interest rates. Where’s all that money going to go? It can’t sit there getting nothing. It will have to go into real estate. It’s going to have to go into equity. It’s going to have to go to precious metals because it can’t sit there getting no or negative yields forever. . . . The debt game is over.”

On gold and silver, Fitts says, “Interest rates coming down makes gold and silver more attractive. I think the number one thing driving precious metals is you’ve still got growth going on in Asia, and they are buyers. People are afraid, and they are looking at what is going on with the leadership, and they are getting scared. They want to hedge their bets, and gold and silver is where you go when you don’t trust the system.”

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Jul 20

S&P Downgrades Turkey To BB, Outlook Negative; Lira Tumbles To New All Time Low:

“Following the attempted coup on July 15, Turkey’s political landscape has fragmented further. We believe this will undermine Turkey’s investment environment, growth, and capital inflows into its externally leveraged economy. In the aftermath of the failed coup, we believe that the risks to Turkey’s ability to roll over its external debt have increased.”

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Jul 20

rome

Decline of Empire: Parallels Between the U.S. and Rome, Part I:

By Doug Casey of Casey Research.

As some of you know, I’m an aficionado of ancient history. I thought it might be worthwhile to discuss what happened to Rome and based on that, what’s likely to happen to the U.S. Spoiler alert: There are some similarities between the U.S. and Rome.

But before continuing, please seat yourself comfortably. This article will necessarily cover exactly those things you’re never supposed to talk about—religion and politics—and do what you’re never supposed to do, namely, bad-mouth the military.

Continue reading »

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Jul 19

Flashback:

Hungary: PM Victor Orban’s Historic Speech: The Migrant Crisis Is A Preplanned And Orchestrated Operation (Video):


Hungary asks IMF to leave the country after early payback:

Hungary has announced plans to repay its bailout loan from the International Monetary Fund early and asked the organization to leave the country.

The head of Hungary’s Central Bank Gyorgy Matolcsy wrote a letter to IMF Managing Director Christine Lagarde on Monday asking for it to close its representative office in Budapest as it was “not necessary to maintain” it any longer.

The IMF says it is ready to agree since the current IMF representative in Hungary is due to leave soon anyway. Continue reading »

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Jul 17

H/t reader squodgy:

Glass–Steagall Act reinstatement is the only answer for US”


Jul 14, 2016

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Jul 16

14.07.2016

Description:

Bix Weir is back to re-examine ‘The World in 2016’ according to the Rothschild’s Economist magazine. What did the esoteric, occult symbology riddled cover predict, what has come to pass thus far, and what is still to come? We take a deep dive into this and more. Thanks for joining us.

Continue reading »

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Jul 16

18.06.2016

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Jul 07

“Crazy” – The Complete Story Of Debt, In A 40 Minute Video:

Real Vision TV’s Grant Williams offers a true look into what is known as an absurd debt level and unimaginable central bank manipulation.  Less than a week ago we highlighted Grant’s comments on commodities.  Although the information contained in the video below is nothing new to Zero Hedge, we do enjoy the way the information is presented.  Set aside some time to listen as Grant tells a story about debt and the current investment landscape.

Grant sees people “with more power than you can possibly imagine” as the ones responsible for experimental economics that led the world down a path of self destruction. 

I don’t think there is any argument about whether or not the central bankers of the world should have done something in 2008.  The question is ‘should they still be doing it 8 years later‘?”

We recommend viewing the entire clip

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“When a country embarks on deficit financing (Obamanomics) and inflationism (Quantitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul

“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”
– Ron Paul

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
– John Maynard Keynes

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
– Alan Greenspan

“Capital must protect itself in every way… Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.”
– J. P. Morgan

“We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the FED. They are not government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers.”
– Louis McFadden

“It was not accidental [the 1929 stock-market “crash”]. It was a carefully contrived occurrence. … The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all.”
– Louis McFadden

“What good fortune for governments that the people do not think.”
– Adolf Hitler

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federal-reserve-quantitative-easing-printing-money

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Jul 07

Here We Go Again——August 2007 Redux:

Nearly everywhere on the planet the giant financial bubbles created by the central banks during the last two decades are fracturing. The latest examples are the crashing bank stocks in Italy and elsewhere in Europe and the sudden trading suspensions by four UK commercial property funds.

If this is beginning to sound like August 2007 that’s because it is. And the denials from the casino operators are coming in just as thick and fast.

Back then, the perma-bulls were out in full force peddling what can be called the “one-off” bromide. That is, evidence of a brewing storm was spun as just a few isolated mistakes that had no bearing on the broad market trends because the “goldilocks” economy was purportedly rock solid. Continue reading »

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Jul 06

“It Feels Like 2008” Government Bond Yields Signal “Something Very Nasty Is Coming”:

With global developed market bond yields crashing to record lows and almost $10 trillion of negative-yielding debt worldwide, it is no surprise that money managers are concerned that “it’s starting to feel like 2008.”

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Jul 04

H/t reader squodgy:

“Liberty Blitzkrieg…really scared about the prospects that we are all being led to War & it will be hot.”


03.07.2016

Description:

What is coming is much worse than a financial crash. Former Wall Street analyst turned journalist, Michael Krieger, contends, “In my writings, when I first came out of Wall Street, I focused on debt, I focused on economics and I focused on financial markets. I did all of that stuff, but I stopped doing that for one simple reason. It was obvious to me . . . that this thing had only one way to go, which is a complete collapse of everything. We’re going to need to start over. There’s too much debt. There’s too much corruption. There’s too much BS. There’s too much war. There’s too much everything that is bad in this world, and debt is one aspect of it. Are we going to have to wipe out the debts one way or the other? Of course, we will. I guess the reason I have stopped talking about that and writing about that is because it is so obvious. So, what I have been doing over the last three years is getting people aware and engaged on everything, not just the economics, but the political corruption. Every single industry in this world is basically hitting peak corruption, peak shadiness, peak violence and peak everything. So, it’s not just the debt or the economies that are going to collapse, it’s everything, the political establishment and the social fabric. All of these things we have been living under our entire lives will be replaced by something else. . . . The only question is, are we going to get something better or are we going to get something worse?”

Join Greg Hunter as he goes One-on-One with Michael Krieger, founder of LibertyBlitzkrieg.com.

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Jul 03

LEAKED: Japan’s Mega-Pension Fund Plows into Stocks, Eats $50Bn Loss, Tries to Hide it till after Election:

Benefiting hedge funds and banks that had front-run the fund.

Abenomics is facing elections on July 10 for the less powerful Upper House.

But Abenomics hasn’t fared very well. It engaged in the biggest (relative to the economy) money-printing and bond buying extravaganza the world has ever seen. The securities the Bank of Japan has bought, now at ¥426 trillion ($4.15 trillion), amount to 85% of GDP. About $8 trillion in Japanese Government Bonds sport negative yields. Even the 30-year yield is just about zero. The JGB market, once the second largest government bond market in the world, has frozen. The BOJ’s primary dealers are in revolt. Some have already pulled out. Continue reading »

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Jul 03

Time to check and improve your SHFT plan and continue to prepare for the coming collapse.


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Jul 01

PR flag

Puerto Rico Defaults On $2 Billion In Debt Payments:

As expected, Puerto Rico will default on about $2 billion in debt payments Friday, including $780 million in constitutionally-backed general obligation bonds, as governor Alejandro Garcia Padilla has issued an executive order authorizing the suspension of payments. In addition, Garcia Padilla also declared states of emergency at the island’s biggest public pension – the Commonwealth’s Employee Retirement System – which is more than 99% underfunded, as well as the University of Puerto Rico and other agencies Reuters reports. The default will mark the first time a US territory has failed to pay on its general obligation bonds.

Under these circumstances, these executive orders protect the limited resources available to the agencies listed in these orders and prevents that these can be seized by creditors, leaving Puerto Ricans without basic services,” Garcia Padilla’s administration said in a statement. Continue reading »

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Jun 29

Puerto Rico To Default On July 1 After Senate Passes Bailout Bill:

Moments ago, following the overwhelming passage of a Puerto Rico bailout bill by the US House of Representatives, Congress found itself on the edge of sending the PR debt relief Bill for the president signature, when the Senate, in a 68-32 vote, likewise passed the measure. This makes final passage of the legislation a virtual certainty as sixty votes were needed to clear the procedural hurdle, but only a majority vote is necessary on final passage.

The legislation allows Puerto Rico to restructure $70 billion in debt and establish an outside control board to steer the island’s troubled finances. President Obama supports the package, and is expected to quickly sign it. Continue reading »

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Jun 29

There Is Now A Staggering $11.7 Trillion In Negative Yielding Debt:

It was not even a month ago when we last looked at the total amount of negative yielding debt around the globe, and were shocked to find that according to Fitch, for the first time in history (obviously), there was over $10 trillion in negative yielding debt. Fast forward 4 weeks later, and the grand total is now $1.3 trillion higher, or $11.7 trillion.

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Jun 27

FYI.


Jim Rogers: Brexit Blowback “Worse Than Any Bear Market You’ve Ever Seen”

When it comes to being direct and offering up some truth, one can rest assured that Jim Rogers is a prime candidate to do both.

In an interview with Yahoo! Finance, the legendary investor had some candid and quite unnerving things to say about the global market in the aftermath of Brexit.

This is going to be worse than any bear market that you’ve seen in your lifetime. 2008 was pretty bad because of debt, well the debt all over the world is much, much higher now. Stocks in the US for instance have been going sideways for 18 months, 24 months. That’s called distribution by many people, so when you have distribution for a year and a half, it usually leads to bad things.”

If that was too upbeat, Rogers unveils his bear scenario: Continue reading »

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