Aug 04

gold-price-dollars

Some clear thinking about the price of gold. (Sovereign Man, August 4, 2015):

On April 2, 2001, the price of gold closed the market trading session at $255.30.

And that was the lowest price that gold has seen ever since.

In US dollar terms, gold closed the 2001 calendar year higher than it did in 2000. Then it did the same thing again in 2002. And again in 2003. Continue reading »

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Aug 04

“Is Barack Obama trying to kill the economy on purpose?”

Elite puppet Obama is not “trying”.

Related info:

Hedge Fund Manager Kyle Bass: Senior Obama Administration Official Said: ‘We’re Just Going To Kill The Dollar’ (Video)


American-Flag-Painting

Obama’s Climate Fascism Is Another Nail In The Coffin For The U.S. Economy (Economic Collapse, Aug 2, 2015):

Is Barack Obama trying to kill the economy on purpose?  On Sunday, we learned that Obama is imposing a nationwide 32 percent carbon dioxide emission reduction from 2005 levels by the year 2030.  When it was first proposed last year, Obama’s plan called for a 30 percent reduction, but the final version is even more dramatic.  The Obama administration admits that this is going to cost the U.S. economy billions of dollars a year and that electricity rates for many Americans are going to rise substantially.  And what Obama is not telling us is that this plan is going to kill what is left of our coal industry and will destroy countless numbers of American jobs.  The Republicans in Congress hate this plan, state governments across the country hate this plan, and thousands of business owners hate this plan.  But since Barack Obama has decided that this is a good idea, he is imposing it on all of us anyway. Continue reading »

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Aug 03

Puerto Rico broke

First Default By U.S. Commonwealth In History: Puerto Rico Fails To Make Required Debt Payment (ZeroHedge, Aug 3, 2015):

Over the weekend Puerto Rico was supposed to make a modest principal and interest payment of some $58 million due on Public Finance Corp. bonds, which however few expected would be satisfied. As a reminder, on Friday, Victor Suarez, the chief of staff for Governor Alejandro Garcia Padilla, said during a press conference in San Juan that the government simply does not have the money.

Moments ago Melba Acosta, president of the Government Development Bank, confirmed as much, when he announced that only $628,000 of the $58 million payment, or just about 1%, had been paid.

Below is the full statement from Acosta on the service of PFC Bonds: Continue reading »

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Aug 03

And what could possibly go wrong?


The World Explained In One Chart (ZeroHedge, Aug 3, 2015):

We could not have put it better – Progress indeed…

Federal-Reserve-progress

 

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Aug 03

The Rent is Too Damn High – San Fran Residents Pay $1,000 a Month to Live in Shipping Containers (Liberty Blitzkrieg, Aug 3, 2015):

There’s nothing quite like a grotesquely lopsided “economic recovery” in which a handful of cities boom, while the rest of the nation stagnates. Even worse, millennials living in such chosen cities face one of two options. Either live in mom and dad’s basement, or face a standard of living far more similar to 19th tenement standards than the late 1990’s tech boom.

With that out of the way, I want to introduce you to what a $1,000 per month rental in the San Francisco Bay area looks like. Shipping containers:

1,000 a Month to Live in Shipping Containers-1

Don’t worry, there’s a lovely garden out back:

1,000 a Month to Live in Shipping Containers-2

We learn more from Bloomberg:

Luke Iseman has figured out how to afford the San Francisco Bay area. He lives in a shipping container. Continue reading »

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Aug 03

Comex On The Edge? There Are Now A Record 124 Ounces Of Paper Gold For Every Ounce Of Physical (ZeroHedge, Aug 3, 2015):

Over the weekend, we got what was merely the latest confirmation that when it comes to sliding gold prices, consumer of physical gold just can’t get enough. As the Times of India reported over the weekend, India’s gold imports shot up by about 61 per cent to 155 tonnes in the first two months of the current fiscal “due to weak prices globally and the easing of restrictions by the Reserve Bank. In April-May of the last fiscal, gold imports had aggregated about 96 tonnes, an official said.”

This follows confirmations previously that with the price of gold sliding, physical demand has been through the roof, case in point: “US Mint Sells Most Physical Gold In Two Years On Same Day Gold Price Hits Five Year Low“, “Gold Bullion Demand Surges – Perth Mint and U.S. Mint Cannot Meet Demand“, “Gold Tumbles Despite UK Mint Seeing Europeans Rush To Buy Bullion” and so on. Indicatively, as of Friday, the US Mint had sold 170,000 ounces of gold bullion in July: the fifth highest on record, and we expect today’s month-end update to push that number even higher.

US Mint gold July 2015

But while the dislocation between demand for physical and the price of paper gold has been extensively discussed here over the years, most recently in “Gold And The Silver Stand-Off: Is The Selling Of Paper Gold And Silver Finally Ending?”, something unexpected happened at the CME on Friday afternoon which may be the most important observation yet. Continue reading »

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Aug 03

FYI.


eu

S&P Dares To Go There: Downgrades European Union To Negative Outlook (ZeroHedge, Aug 3, 2015):

Just a few short years after they dared to downgrade the US, S&P has unleashed their worst on Europe:

  • *EUROPEAN UNION OUTLOOK REVISED TO NEGATIVE FROM STABLE BY S&P
  • *S&P: EU TO AA+/NEGATIVE FROM AA+/STABLE – FOREIGN CURRENCY LT

We are sure this will be met by S&P office raids throughout Europe, litigation over somethhing or other, and denials broadly from any and every unelected member of EU’s elite… because “when it’s serious you have to lie.”

As Bloomberg reports, Continue reading »

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Aug 03

“No Brainer” AAPL Enters Correction, Down 12% From Recent Highs To 6-Month Lows (ZeroHedge, Aug 3, 2015):

Having broken its 200DMA earlier this morning, selling pressure has continued in the “as goes AAPL, so goes the US economy market” stock. Now down almost 12% from earnings exuberance, AAPL is in correction territory and is trading at six-month lows

Apple-AAPL-correction

Paging Carl Icahn…

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Aug 03

30Y Treasury Yield Plunges To 3-Month Lows As S&P Breaks Key Technical Support (ZeroHedge, Aug 3, 2015):

The carnage is contagious. The S&P 500 just broke down below its 50- and 100-day moving averages unable to hold the ubiquitous pre-EU-close ramp highs. Treasury yields have plunged since the weak spending and ISM data with the 5Y breaking below its 200-day moving average and 30Y yields testing 3-month lows

 …

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Aug 03

 twitter_dead 

Social Media Facade Falters – Twitter Crashes 28% From Post-Earnings Exuberance (ZeroHedge, Aug 3, 2015):

The cracks in the facade are starting to show…

Twitter

As we warned yesterday, it is different this time…

There has probably been no greater investing mantra placed upon an industry in recent memory than the now reflexive, as well as defensive response of “It’s different this time” when questioning anything Social. Trying to understand the business model along with its metrics, valuations and more is not only arduous, the response seems more akin to pulling teeth without anesthesia for those selling it, defending it, or both. Continue reading »

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Aug 03

Hayes

LIBOR Scapegoat Found Guilty, Sentenced To 14 Years (ZeroHedge, Aug 3, 2015):

Update: Hayes has been sentenced to 14 years in jail.

*  *  *

Tom Hayes, the former UBS trader standing trial for his role in manipulating LIBOR, was found guilty on eight counts in a London court. The jury, which deliberated for a week, was unanimous in its decision. To wit, from Bloomberg:

Former UBS Group AG and Citigroup Inc. trader Tom Hayes, the first person to stand trial for manipulating Libor, was found guilty of eight counts of conspiracy to rig the benchmark rate. Continue reading »

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Aug 03

Google-Self-Driving-Car
In this 13 May 2015 photo, Google’s self-driving Lexus car drives along street during a demonstration at Google campus in Mountain View, California. Photograph: Tony Avelar/AP

How Google quietly revved up its very own car company (Guardian, Aug 1, 2015):

Documents obtained by the Guardian reveal the tech giant created Google Auto LLC to help develop its self-driving cars even as it courted big car makers

 Google has set up its own car company. The tech giant has flirted with major car firms as it explores driverless cars but has also quietly set up its own auto company, according to documents obtained by the Guardian.

Google Auto LLC is headed by Chris Urmson, project lead for Google’s self-driving cars. Urmson has been on a charm offensive with the world’s biggest automobile manufacturers. At the North American International Auto Show in January, Urmson announced talks with General Motors, Ford, Toyota, Daimler and Volkswagen. In March, he told USA Today: “Making cars is really hard, and the car companies are quite good at it. So, in my mind, the solution is to find a partnership.”

To date, no such partnership has emerged. That might be because Google already has its very own car maker in Google Auto. The company is registered with national and international organisations as a passenger vehicle manufacturer, and was licensed last year as a car maker in California. Google declined to comment on this story. Continue reading »

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Aug 03

Corruption is Legal in the USA (Washington’s Blog, Aug 2, 2015):

A well-done animated guide to the 2014 study (often cited by Washington’s Blog) conducted by teams of researchers out of Princeton and Northwestern, looking at whether the US population can influence public policy.  This is the largest study of the topic to date, looking at nearly 2,000 policy issues.

“The average American has a miniscule, near zero, statistically non-significant impact on public policy.”

Continue reading »

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Aug 02

maersk 2

Something Just Snapped: Container Freight Rates From Asia To Europe Crash 23% In One Week (ZeroHedge, Aug 2, 2015):

One of the few silver linings surrounding the hard-landing Chinese economy in recent weeks has been the surprising resilience and strength of the Baltic Dry Index: even as Chinese commodity demand has cratered in 2015, this “index” has more than doubled in the past few months from all time lows, and at last check was hovering just over 1,100.

bdiy

Many were wondering how it was possible that with accelerating deterioration across all Chinese asset classes, not to mention the bursting of various asset bubbles, could global shippers demand increasingly higher freight rates, an indication of either a tight transportation market or a jump in commodity demand, neither of which seemed credible.

We may have the answer. Continue reading »

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Aug 02


Aug 1, 2015

See also:

Venezuela Increasingly Looks Like A War Zone

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Aug 02

“The punchline: Sheng warned about the risks of local government debt, saying that 2 trillion yuan ($322.08 billion) in bond swaps may not be able to fully cover maturing debt, according to the report.

What he really said, as paraphrased by Bloomberg, is that “local governments tended to not report all their debts when audited in June 2013, thus the 2 trillion yuan debt swap plan arranged this year may not cover all debts due, Sheng cited as saying.”

Oops.”


 

china-property-bubble

As China Admits It Lied About Its Local Debt Levels, Local Billionaires Are Quietly Liquidating Their Assets (ZeroHedge, Aug 2, 2015):

It was almost exactly two years ago, when during China’s long-forgotten attempt to actively deleverage its economy (remember that? good times…) we commented on the country’s s first attempt to estimate what its local government debt is since June 2011.

This is what we said in July 2013: Continue reading »

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Aug 02

china gold

China’s 1929 Moment (GoldMoney, July 30, 2015):

Anyone with a nose for markets will tell you that the Chinese government’s attempt to rescue the country’s stock markets from collapse is far from succeeding.

Bubbles collapse, period; and government interventions don’t stop them. Furthermore, we are beginning to see a crack widen in the foundations of China’s capital markets that could end up undermining the whole economy.

Since the government owns the banking system, some of the knock-on effects will doubtless be concealed. A consequence for China is that domestic financial instability could threaten her current plans for the international development of her currency. Here the timing couldn’t be worse, because in a few months the IMF is due to announce its decision about the inclusion of the renminbi in the SDR. The odds were in favour of China succeeding in this quest, on the basis that China was deemed to have fulfilled the necessary conditions, and the IMF itself has been supportive. Continue reading »

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Aug 02

Here is an alternative way to opt out …

Install Linux. (Maybe you have a friend, relative who knows how to do this and can teach you how to work with Linux. Learning something new is good for the brain!)

Turn off the internet connection for Windows.

Go online only with Linux.

Use all the programs you’ve got used to in Windows (while being offline).

This way you could still safely use Windows XP.

… or try to tame the beast …


windows-10-1

Windows 10 is spying on almost everything you do – here’s how to opt out (BGR, July 31, 2015):

Windows 10 is amazing. Windows 10 is fantastic. Windows 10 is glorious. Windows 10 is faster, smoother and more user-friendly than any Windows operating system that has come before it. Windows 10 is everything Windows 8 should have been, addressing nearly all of the major problems users had with Microsoft’s previous-generation platform in one fell swoop.

But there’s something you should know: As you read this article from your newly upgraded PC, Windows 10 is also spying on nearly everything you do.

DON’T MISS: Windows 10: The first 5 things you need to do immediately after you install it

It’s your own fault if you don’t know that Windows 10 is spying on you. That’s what people always say when users fail to read through a company’s terms of service document, right? Continue reading »

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Aug 02

Illuminati (the Rothschilds and the other 12 elite families) control America and they are calling the shots.

America is just being used, or better abused, to fulfill their agenda.

History is repeating itself.

And again … We Are On Our Own

George Carlin sums it up best:

George Carlin: The American Dream (Video):


Continue reading »

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Aug 01

This Coal Mine Valued At $630 Million In 2011 Just Sold For One Dollar (ZeroHedge, Aug 1, 2015):

To get a sense of the complete devastation in the world of commodities, consider the curious case of Australia’s Isaac Plans coking coal mine, which was valued at $630 million in 2011. It sold on Thursday for $1.  it gets worse: based on data from Citi Research, 90% of all M&A that miners did since 2007 has been written off. The commodity bubble has officially burst – feel free to thank China.

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