Don’t Look at These Charts Showing Registered ‘Deliverable’ Gold Bullion In New York At Record Lows

‘The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.”
John Kenneth Galbraith, The Great Crash of 1929
Here are a few charts that show the rather striking decline in ‘registered’ gold, that is gold available for those standing for delivery, in the Comex warehouses.
‘Standing’ by the way means standing around and waiting for someone to choose to fulfill your request for your contract to be fulfilled with actual bullion before the cut off date.
You can see from the first chart that the likelihood of someone actually standing for delivery and receiving bullion has never been less at The Bucket Shop. Real metal is unfashionable amongst our financial sophisticates.
As for delivery and withdrawal of bullion, it is getting stronger and stronger in the East. Second chart. What can one say at such embarrassing behaviour? What a bunch of rubes!
The shills and shrills for the bullion banks will tell you, in hair-splitting and often misleading detail that none of this means anything. And you better listen to them because they are the ascended masters of the universe.

This post was published at Jesses Crossroads Cafe on 04 OCTOBER 2015.

The Media-Opoly: Cancelled, From Saturday Night, It’s Conspiracy Theory Rock!

A day after we ran “Meet Your “Independent” Media, America“, in which we showed how prime time entertainment like 60 Minutes is strategically and voluntarily “planted” with propaganda trolls and “concerns” thus crushing any “unbiased” credibility mainstream US media may have, we dug into the archives to bring you “Conspiracy Theory Rock.”

This post was published at Zero Hedge on 10/03/2015.

Doug Noland’s Credit Bubble Bulletin: Party Crashing

This is a syndicated repost courtesy of Credit Bubble Bulletin. To view original, click here.
October 2 – Reuters (Ann Saphir): ‘Letting the U. S. economy run at ‘high-pressure’ for a while by keeping interest rates relatively low will help push inflation back up to the Federal Reserve’s 2% goal faster, a top Fed official said… But the Fed probably needs to raise rates this year to begin to slow the economy before it develops risky financial imbalances, San Francisco Fed President John Williams told reporters… ‘It’s okay to have the party. It’s okay to get the party going – but we just don’t want it to go too far,’ he said. If it were not for the global slowdown, the U. S. economy would be growing much faster, he added.’
This week provided further evidence that the bursting global Bubble has progressed to a critical juncture, afflicting Core markets and economies. Ominously, few seem aware of the profound ramifications – or even the unfolding hostile market backdrop. Even many of the most sophisticated market operators have been caught off guard. There is, as well, scant indication that Federal Reserve officials appreciate what’s unfolding.

This post was published at Wall Street Examiner by Doug Noland ‘ October 3, 2015.

The 5th Convergence: Why This is Not a Buy-and-Hold Market!

This morning we had to face some hard truths. The economy’s beginning to show its true colors.
Last month the economy added just 142,000 jobs. August was revised substantially lower to just 136,000 jobs. Analysts were expecting 200,000-plus jobs growth like it would go on forever.
Of course, I’m not the least bit surprised. You know I’ve seen this coming.
I’ve spent the last 30 years developing something no economist thought possible.
In fact, I’m not really an economist. I’m an entrepreneur in economics.
Entrepreneurs are almost like criminals. They attack society’s norms. Both are creative, and even many criminals become famous for what they do – like Jesse James, Butch Cassidy, the Sundance Kid, or even mob bosses like Al Capone.
The difference, of course, is that entrepreneurs attack society and business in a constructive manner.

This post was published at Wall Street Examiner by Harry Dent ‘ October 2, 2015.

Do Not Look at These Charts Showing Registered ‘Deliverable’ Gold Bullion In New York

‘The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.”
John Kenneth Galbraith, The Great Crash of 1929
Here are a few charts that show the rather striking decline in ‘registered’ gold, that is gold available for those standing for delivery, in the Comex warehouses.
‘Standing’ by the way means standing around and waiting for someone to choose to fulfill your request for your contract to be fulfilled with actual bullion before the cut off date.
You can see from the first chart that the likelihood of someone actually standing for delivery and receiving bullion has never been less at The Bucket Shop. Real metal is unfashionable amongst our financial sophisticates.
As for delivery and withdrawal of bullion, it is getting stronger and stronger in the East. Second chart. What can one say at such embarrassing behaviour? What a bunch of rubes!
The shills and shrills for the bullion banks will tell you, in hair-splitting and often misleading detail that none of this means anything. And you better listen to them because they are the ascended masters of the universe.
All of these categories and procedures at The Bucket Shop are meaningless. And the holders of these millions of dollars in bullion often change the designations of their metal in new but meaningless ways in their quest to baffle the world. And provide makework for their brokers and clerical staff.

This post was published at Jesses Crossroads Cafe on 04 OCTOBER 2015.

Who Owns Your Presidential Candidate?

By Jake Anderson of Antimedia
It’s a new era of American politics. With regard to campaign finance, the Citizens United Supreme Court ruling – and the arguably worse McCutcheon v. FEC ruling – opened the doors to unrestricted corporate funding of our national elections.
The primary mechanism in place facilitating this flood of private money is the super PAC. You’ve probably heard of super PACs and how they’ve essentially taken over the role traditionally filled by individual campaign donors in Political Action Committees (PACs). But super PACs aren’t the end of it. There are puppet political non-profits, business associations, and now, single-candidate ‘dark money’ outfits that, as of September 21, have already raised $25.1 million – five times the amount spent by this time in the 2012 election cycle.
Small, private donors still exist, of course. Their campaign contributions are still capped at about $5,000per individual, making them the tip of the iceberg in political campaign spending. Enter super PACs and single-candidate committees, who, because of the aforementioned SCOTUS rulings, have the ability to slither in between campaign finance laws and flood our elections with unlimited corporate money. The ‘dark money’ 501(c) groups, sometimes known as ‘social welfare’ organizations, are particularly insidious because, unlike super PACs, they are not required to disclose their donors to the public. Since they are legally viewed as a type of business, they don’t have to disclose disbursements until the IRS requires it. This means there is essentially a network of politically advantageous winks and nods, whereby candidates receive unlimited parallel spending from an interconnected syndicate of super PACs, non-profits, and business associations.

This post was published at Zero Hedge on 10/03/2015.

Corporation vs. Nation: The Ultimate Showdown

No Trial, No Judge, No Jury
A secluded private courthouse in Washington DC is currently the scene of a gargantuan legal battle that could have serious ramifications for all of us. Yet virtually nobody knows about it. On one side of the battle is the tiny, poverty-crippled Central American nation of El Salvador; on the other is Pacific Rim, a Canadian mining company that was acquired by the Australian corporation Oceana Gold in 2013. At stake is the basic issue of who owns what in tomorrow’s world.
Putting Gold Before Water
In 2009, Pacific Rim filed a private lawsuit – what is referred to in the impenetrable jargon of modern globalism as an Investor-State Dispute Settlement (ISDS) – against the government of El Salvador for $301 million, equivalent to just over 2% of the country’s $24 billion GDP. As BBC World reports (in Spanish), the amount is equivalent to three years’ combined public spending on health, education and security.
The company argues that El Salvador unfairly denied its mining permit after it began an exploration process for gold mining, costing it hundreds of millions of dollars of ‘potential future profits.’

This post was published at Wolf Street by Don Quijones ‘ October 3, 2015.

Global Dollar Funding Shortage Intesifies To Worst Level Since 2012

The last time we observed one of our long-standing favorite topics (first discussed in early 2009), namely the global USD-shortage which manifests itself in times of stress when the USD surges against all foreign currencies and forces even the BIS and IMF to notice, was in March of this year, when we explained that “unlike the last time, when the global USD funding shortage was entirely the doing of commercial banks, this time it is the central banks’ own actions that have led to this global currency funding mismatch – a mismatch that unlike 2008, and 2011, can not be simply resolved by further central bank intervention which happen to be precisely the reason for the mismatch in the first place.”
Furthermore JPM conveniently noted that “given the absence of a banking crisis currently, what is causing negative basis? The answer is monetary policy divergence. The ECB’s and BoJ’s QE coupled with a chorus of rate cuts across DM and EM central banks has created an imbalance between supply and demand across funding markets. Funding conditions have become a lot easier outside the US with QE-driven liquidity injections and rate cuts raising the supply of euro and other currency funding vs. dollar funding. This divergence manifested itself as one-sided order flow in cross currency swap markets causing a decline in the basis.”
To which we rhetorically added: “who would have ever thought that a stingy Fed could be sowing the seeds of the next financial crisis (don’t answer that rhetorical question).”
All this was happening when the market was relentlessly soaring to all time highs, completely oblivious of this dramatic dollar shortage, which just a few months later would manifest itself quite violently first in the Chinese devaluation and sale of Treasurys, and then in the unprecedented capital outflow from emerging markets as the great petrodollar trade – just as we warned in November of 2014 – went into reverse. In fact, there are very few now who do not admit the Fed is responsible for both the current cycle of soaring volatility, or what may be a market crash (as DB just warned) should the Fed not take measures to stimulate “inflation expectations” (read: more easing).

This post was published at Zero Hedge on 10/03/2015 –.

Will The Failure Of Central Banking Lead To Global Bloodshed: The French Revolution Case Study

Submitted by Michael Lebowitz of 720 Global
Shorting the Federal Reserve – Part Deux
The sequence of events leading up the French Revolution are likely unfamiliar to most. Yet money printing and a debauched French currency played no small part in those events. As a sequel to ‘Shorting the Federal Reserve’, 720 Global aims to provide an historical example of excessive money printing which lead to financial crisis, and ultimately the revolution of a major sovereign nation. More than a history lesson, this article effectively illustrates the road on which the U. S. and many other nations currently travel. The story relayed in this article is not a forecast for what may happen but a simple reminder of what has repeatedly happened in the past.
As you read, notice the story lines the French politicians used to persuade the opposition and justify money printing. Note the similarities to the rationales used by central bankers and neo?Keynesians today. Then, as now, it is promoted as a cure for economic ills with manageable consequences and where failure to generate a sustainable recovery are thought to be a failure of not having acted boldly enough.
Our gratitude to the late Andrew D. White, on whose work we relied heavily. The exquisite account of France circa the 1780?1790’s was well documented in his paper entitled ‘Fiat Money Inflation in France’ published in?1896. Any unattributed quotes were taken from his paper.

This post was published at Zero Hedge on 10/03/2015.

Are The Markets Being Manipulated To Convert Stocks To Cash In Yet Another Stealth Strategy To Aid The Banksters (And Will It Backfire On The FED?)

After CNN MONEY published a report entitled ‘Cash Is King. It’s Better Than Stocks Or Bonds In 2015,’ this observer believes there is an unreported rush to withdraw funds from the markets. [CNN Money] Mebane Faber of Cambria Investments advises investors to get out of the markets completely. He says the last time market indicators pointed in this direction was during the financial collapse of 2008. [Marketwatch] If investors are pulling their money out of the markets, banks would report record increases in deposits. But 3rd Quarter data on bank reserves will not be reported for some time, so we have no confirmation of this at the present time. An article at Forbes.com says the deposit base of all US commercial banks is currently at a record high of $10.9 trillion. (2ndQuarter 2015 data), but that is only 2nd Quarter 2015 data. [Forbes.com] The Wall Street Journal blog says investors moved their money out of the stock market and into cash in the month of August. [Wall Street Journal] Wait for long-term gains. But what if you are 70 years old?
When events like this occur Wall Street predictably advises investors to stay in the markets for long-term gains. However, many private investors haven’t time to wait for long-term returns, they are Baby Boomers who use dividends and stock profits for their retirement. They can’t afford to start all over again should a collapse in the markets occur.

This post was published at Lew Rockwell on October 3, 2015.

“How Will The Public Receive News Of More QE, NIRP, Cash Bans And Capital Controls?”

Submitted by Eugen Bohm-Bawerk
The Fed unsurprisingly chickened out from the much touted September hike. International conditions and a disapproval from Mr. Market was enough to unnerve an increasingly bewildered FOMC board.
Less well known is the fact that the FOMC gave a strong, and unexpected, signal to the Pavlovian world of central bank front runners. Dovish hold as the enlightend call it. It is all about managing expectations – see Goebbelnomics where we said:
As the Keynesian revolution was merged with the models of Robert Lucas, it eventually morphed into something called neoclassical economic thought. The general gist was that economic agents can be tricked into changing their behaviour through surprises in monetary policy, which yes, has somewhat miraculously become the mainstay of central bank economists… … the academic transition led to the ‘economics of money shifting to economics of psychology’. With this in mind it seem untenable that the radical change in the dot-plots is due to a rogue, independent minded FOMC member. On the contrary, everything coming out of the Federal Reserve is well coordinated and is there to signal to the rest of the world where the Fed would like speculators to place their bets, or in this case, should not put their money.

This post was published at Zero Hedge on 10/03/2015 –.

Weekly Gold Market Review For October 2nd

In his weekly market review, Frank Holmes of the USFunds.com summarizes this week’s strengths, weaknesses, opportunities and threats in the gold market for gold investors. Gold closed the week at $1,138.82 down $7.58 per ounce (0.66%). Gold stocks, as measured by the NYSE Arca Gold Miners Index, gained 2.65%. The U. S. Trade-Weighted Dollar Index slipped 0.40 percent for the week. The senior miners got a reprieve with the late week surge in gold prices and outpaced the junior miners while the S&P/TSX Venture Index lost 2.94 percent.
Gold Market Strengths
Palladium was the best performing precious metal, gaining 5.26 percent for the week, with continued follow-through from the Volkswagen scandal. The gains are largely speculative as it is not likely that Europe or Volkswagen will abandon diesel vehicles as their main staple.
In response to their country’s stock market selloff, Chinese investors may be returning to precious metals as a safe haven. Retail sales of gold and silver in China during August rose 17.4 percent year-over-year, representing about $3.9 billion in sales.
September’s nonfarm payrolls disappointed, rising 142,000, which was nowhere near the consensus estimate of 201,000. There was also a decline in workweek data from 34.6 hours in August to 34.5 in September, which equates to an added 348,000 in job losses. Additionally, ratios from the Household report showed that the job participation rate fell to its lowest level since October 1977 (from 62.4 percent to 62.7 percent). Consequently, gold prices jumped $25 in the first 15 minutes after the jobs report was released on Friday.

This post was published at GoldSilverWorlds on October 3, 2015.

Tinder Box

We have been using the Tinder Box theme in NFTRH lately. As in, stock market sentiment is so bleak, so depressed as to be a Tinder Box with the elements to ignite a flame that bounces the market, to clear the over bearishness at least.
We have successfully followed a plan every step of the way… 1. down from the August breakdown, 2. up on the bounce to SPX 1975 or 2040 (hit 2020) and now 3. down to a test of the October 2014 / August 2015 lows, which is a decision point between a bounce or an entry into a bear market (by making a lower low to October 2014).
We arrive here amid an over bearish sentiment backdrop that is all out of whack with what has actually just been a twitch by the market in the big picture (with bull parameters still intact). So whether this is the bounce, as it seems to be – and we are getting some follow through despite the volatility – or it comes from a lower level, it is going to happen.

This post was published at GoldSeek on Friday, 2 October 2015.

The Jobs Number & Reality Check

The prevailing thinking to emerge from the job numbers alone are to confusing to say the least. They lead to the assumption that the U. S. economy has downshifted for the last three consecutive months. However, the Fed will not move into QE mode for that has robbed them of their power to even try to manipulate the economy in tune with Keynesian Economics. There is a lot more depth to the numbers than meets the eye.

This post was published at Armstrong Economics on October 3, 2015.

Gold And Silver – A Reality Check.

There are two things about which everyone need be clear: 1. The lack of clarity of the identity of the global elites, AKA Rothschilds and their ilk, who control the world’s money supply along with every government, and 2. The demise of the fiat ‘dollar’ and failed fiat Euro are not accidental. Everything, everything is planned decades, or more, in advance by the global elitSes. They control and use upper echelon characters, like Soros, Kissinger, et al, and their primary membership organizations like Council On Foreign Relations and United Nations, among others.
This does not mean all the details are determined on a micro level, but the general direction in which the globalists want to move the world is not happenstance. Never forget their modus operandi: Problem, Reaction, Solution. They create their desired Problem, watch the public’s Reaction, and then swoop in with their intended Solution to solve the Problem few guess was started purposefully. The Solution almost always moves the elites closer to their New World Order agenda and always entails a loss of freedom for people.
The Middle East has been under relentless attack for a few decades, growing into a disintegrating crescendo. Lebanon, Palestine, Afghanistan, Iraq, Egypt, Libya, and now Syria, still under attack by the US-created ISIS, Iran isolated and monetarily sanctioned, ostensibly threatened over their non-existent nuclear threat, another US false flag.

This post was published at Edge Trader Plus on October 3, 2015.

The Unwind Of QE Means The “S&P Should Be Trading At Half Of Its Value”, Deutsche Bank Warns

In his latest weekly note, DB’s derivatives analyst Alekandar Kocic focuses on the interplay between US inflation expectations and US equities, and points out something curious, and very much spot on:
Policy response to the crisis post-2008 consisted of unprecedented injection of liquidity, transfer of risk from private to public balance sheet, and reduction of volatility from its toxic levels. The net result was near-zero rate levels and collapse of volatility across the board, while different market sectors developed high degrees of coordination. The last effect has been an indirect result of the central banks’ flows and the distortions they introduced in the bond market. In this environment other markets acted as a complement to rates (through which monetary policy was transmitted) and crowding out there pushed investors to articulate their views elsewhere. Their participation was a function of amount of liquidity injection. As a consequence everything was trading off of US inflation expectations as the main expression of the QE effects. That was the case for the first 5 years of “unconventional policy” until some time in 2013. Then something snapped. Kocic continues:
With deflation as the main risk tackled by monetary policy, its success or failure was gauged by the ability to reflate the economy. Inflation expectations and breakevens were therefore signals for risk-on or risk-off trade. In fact, most market sectors, from FX to EM equities, were trading in high coordination with breakevens. Taper tantrum was the end of these correlations and a beginning of dispersion across different assets. In effect, it was the unwind of the ‘QE’ trade, its first phase. While most other assets, like credit spreads, EM equities or different currencies, do not have a logical connection with US breakevens, US equities do. The dispersion between these assets and breakevens was an expected consequence of policy unwind. However, for US equities this unwind distorted their ‘natural’ correlation with inflation. Persistence of these dislocations is just a manifestation of to what extent QE has been an important driver of post-2008 markets.

This post was published at Zero Hedge on 10/03/2015.

Why Year 3 of the Presidential Cycle Hasn’t Gone the Way Everyone Expected

Summary: Year 3 of the “Presidential Cycle” was expected to post a gain of over 20%. Instead, SPX is down 3% from a year ago. Why? The set up was all wrong, which brings up a basic principle in analyzing markets: patterns work for a reason, and if that context is missing, the pattern will probably fail. In the event, this is what has happened.
A year ago, we wrote a post on why “Year 3 of The Presidential Cycle Is Unlikely To Go The Way Everyone Expects” (here). At the time, SPX had risen 10% in the prior two weeks. The consensus was firmly in the camp that this performance would continue. After all, since 1950, SPX has risen an average of 22% during this phase of the cycle. In the past 60 years, Year 3 has never provided a negative return.


This post was published at FinancialSense on 10/01/2015.

Furious Auto Workers Demand More Than “Hot Dogs And Hamburgers” As US Car Sales Soar

If you’re a mega corporation, one of the most annoying things about employees is that they expect to be paid for their work and as if that’s not enough, they also tend to draw a parallel between the performance of the company and what their labor is worth.
Fortunately, the combination of ZIRP-assisted, EPS-inflating buybacks and the relative powerlessness of the American worker has served to preserve the divide between corporate management and everyday employees, but every once in awhile, beleaguered laborers start to get the idea that they’re entitled to a greater share of what they effectively create and that translates directly into calls for higher wages.
This situation is exacerbated when the peasantry gets together in the form of organized labor which unfairly seeks to deprive management of its capitalistic right to keep almost all of the profits from the widgets their employees produce.
Given the above, it comes as no surprise that the subprime loan-assisted boom in auto sales has auto workers asking for a larger piece of the pie. Here’s WSJ:
Automobiles flew off dealer lots last month at the fastest pace in 10 years, but the good times are stirring tension between U. S. auto makers and their unionized workers that threatens to undercut the industry’s rebound.

This post was published at Zero Hedge on 10/03/2015 –.