Caught On Tape: Chaos Erupts As Trump-Haters Crash UMich Conservatives’ Debate

A debate-watching party at the University of Michigan, hosted by the conservative Young Americans for Freedom, turned violent on Monday as five anti-Trump protesters invaded the campus auditorium shouting ‘Donald Trump is racist!’
Another female protester held a sign stating ‘Hitler: Make Germany great again, Trump’s America’ while another, dressed as Jesus, walked around the room banging on a drum to disrupt the event.
Below is the full video courtesy of The College Fix:

This post was published at Zero Hedge on Sep 28, 2016.

US Equities: Weak Fundamental Support

Despite a sketchy fundamental backdrop, an accommodative Fed is likely to support share prices for a while longer.
The US equity market capitalization is larger than total GDP, yet profits are steadily losing share relative to GDP. This is not a sustainable combination and a re-coupling is inevitable at some point. We doubt profits will close the gap. Profit margins are mean reverting and have already been well above average for a prolonged period of time.

This post was published at FinancialSense on 09/28/2016.

China’s Richest Man Says Mainland Real Estate Is The “Biggest Bubble In History”

The richest man in China, Wang Jianlin, made his ~$30 billion fortune by developed huge malls and office complexes across China but he now says Chinese real estate is the “biggest bubble in history.”
Certainly, one has to look no further than our post from yesterday entitled “Viral Surveillance Video Reveals A Shocking Scene From China’s Housing Bubble” to get a sense of just how “bubblicious” the China property market has become. Below is footage from a surveillance camera that caught the moment a new real estate development in east Hangzhou opened for sale on September 24th.

This post was published at Zero Hedge on Sep 28, 2016.

“It’s A Lot More Negative Than People Think” – China Beige Book Issues Stark Warning About The Economy

While China’s excess debt problems have been extensively documented, the overall economy appears to also be slowing substantially as a result of the decline in the most recent credit impulse, noted as recently as one week ago when we reported that “Chinese Loan Demand Dropped To All Time Low.” Overnight, the latest warning about China’s economy came from the authors of the China Beige Book, a quarterly survey that tracks the world’s second-largest economy, who said that recent stability in the Chinese economy masks deep-seated problems that threaten to rattle global markets in advance of a leadership change next year, and added that ignoring these risks is shortsighted.
As reported by the WSJ, data from the group’s Q3 survey of 3,100 Chinese firms and 160 bankers point to some potential problems. New growth engines intended to shift the economy away from investment toward consumption-led growth are increasingly wobbly as corporate cash flow is squeezed and Beijing doubles down on traditional engines to stabilize output, the China Beige Book says.
‘I’d find it earth-shatteringly surprising if we don’t have a significant problem between now and China’s leadership change’ in the fall of 2017 when the 19th Party Congress convenes, said Leland Miller, China Beige Book’s president. ‘This is not a stable economy. It’s one that twists and turns and happens to end up at the same spot. There are real problems below the surface.’

This post was published at Zero Hedge on Sep 28, 2016.


Since the United States was founded, citizenship has represented a safe haven from oppressive regimes around the world. By preserving the principles of small government and free markets, those who were willing to work hard found success, and America became a magnet for innovation. But as the U. S. continues to erode personal and economic freedom, more people than ever before are handing over their U. S. passports to seek better opportunities abroad.
The staggering amount of debt held by the American empire ensures the public will be working it off for generations to come. The government has already begun its campaign to make it more difficult to leave the country, and it has also begun to crack down on the finances of the eight million Americans living abroad. Regardless of whether you’re a millionaire with multiple foreign bank accounts or a recent college graduate with a boatload of debt, the status of being a United States citizen brings with it a burden that will only grow heavier over time.
Since 2008, the number of individuals giving up their citizenship has increased by almost 560%, setting new records each of the past three years. Some of these expats are motivated by the extra tax load paid when working abroad while others are trying to avoid student loan debt. Others have just had enough of the encroaching police state.

This post was published at The Daily Sheeple on SEPTEMBER 28, 2016.

We’re on the Cusp of Repeating the 2008 Financial Crisis

Market panic over Deutsche Bank AG(NYSE: DB) reached a fever pitch this week as the stock slumped 10% from $13.17 on Monday morning to $12.13 today (Wednesday). It’s currently sitting at its lowest level in more than 20 years. In fact, today’s DB stock price is 51% less than its lowest price during the 2008 financial crisis (which was $24.58).
Of course, investors are worried the bank may not be able to afford the massive $14 billion fine the U. S. government imposed on it Sept. 16 for trading in toxic mortgages a decade ago.
But earlier today, Christine Lagarde, the managing director of the International Monetary Fund (IMF), assured global media that she doesn’t believe DB will need a bailout.

This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ September 28, 2016.

“More Politics Than Anything Else” – Wall Street Reacts To The OPEC Oil Production Cut Deal

While OPEC reached an “understanding on a production cut“, if not exactly a production cut deal just yet – since every OPEC member’s production has yet to be determined, the sellside has responded. The following is a collection of analysts’ reactions following the OPEC announcement.
Societe Generale Global Head of Oil Research Mike Wittner
‘The cut is clearly bullish,’ Wittner says by phone ‘The number of actual barrels that will be taken off the market is unclear. What’s much more important is that the Saudis appear to be returning a period of market management’ Price Futures Group Senior Market Analyst Phil Flynn
‘When you have the first OPEC agreement of 8 years and non-OPEC cooperation, it’s going to be bullish’ ‘This will push us back into the $50 handle, maybe give us the potential to get into $60 or maybe even $70′ next year.

This post was published at Zero Hedge on Sep 28, 2016.


Gold $1319.40 down $6.50
Silver 19.04 down 5 cents
In the access market 5:15 pm
Gold: 1322.50
Silver: 19.19
The Shanghai fix is at 10:15 pm est and 2:15 am est
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.
And now the fix recordings:
Shanghai morning fix Sept 28 (10:15 pm est last night): $ 1327.50
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1328.12
London Fix: Sept 28: 5:30 am est: $1324.80 (NY: same time: $1324.80: 5:30AM)
London Second fix Sept 16: 10 am est: $1322.50 (NY same time: $1324.80 , 10 AM)
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.

This post was published at Harvey Organ Blog on September 28, 2016.

OilPECalypse Sparks Stock-Buying Panic

Something is up… everyone and their pet rabbit was speaking today (and there’s more tomorrow)

More crappy macro data today… but all that mattered was Yellen never screwed up totally, Deutsche Bank didn’t actually declare bankruptcy, and ‘sources’ said some short-squeeze-creating statements in Algiers…

This post was published at Zero Hedge on Sep 28, 2016.

A Major Warning Was Just Issued, We Are Approaching A Market Crash – Episode 1087a

The following video was published by X22Report on Sep 28, 2016
The Rich are becoming very cautious, sales in Greenwich decline, housing declines at the same time. Durable goods declines for the 20th straight month, which signals we are in a recession. HSBC’s Chief of Technical Analysis sees signs of a 1987 crash. Bridgewater calculates that the central banks around the world only have between 8 months and 24 months before the entire system comes down.

UBS: Housing Bubble Is About to Burst in These 6 Cities Across the Globe

About one year ago – in October 2015 – UBS Group AG (NYSE: UBS) took stock of the world’s most expensive real estate markets for the first time.
The firm found that London and Hong Kong were the only two cities exposed to housing bubble risk.
In 2016, however, that’s drastically changed…
There are now six ‘bubble-risk’ cities worldwide.
6 Cities in a Dangerous Housing Bubble
At the top of UBS’ list is Vancouver, Canada. Housing prices there have more than doubled in the past decade – and have risen 25% since 2014 alone.
In Vancouver, the typical detached single-family house in August was $1.21 million on average, according to the Real Estate Board of Greater Vancouver. That same month – on Aug. 2 – the British Columbia provincial government imposed a 15% tax on foreign buyers in an attempt to cool prices down.
The governments of other inflated cities worldwide are considering doing the same.
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This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ September 28, 2016.

2017: Gold and Silver’s Year of “Public Recognition”

In all probability, December 2015 marked the bottom of the cyclical gold and silver bear market – a bear cycle that had been in play since silver topped in May 2011 and gold in September of the same year.
During the fourth quarter 2015, share price declines of the precious metals mining companies tapered off once the last of the weak hands gave up and sold their positions to stronger, forward-looking investors.

This post was published at SilverSeek on September 28, 2016.

As Deutsche Bank Implodes, The ECB Is Making A “Strategic” Hire…

Job alert: Banking Supervision Analyst — ECB (@ecb) September 28, 2016

With Deutsche Bank crashing and burning for the second time in 2016, with its stock taking out all time lows and CDS spiking to record levels not seen even during the financial crisis, the ECB – which earlier denied its policies are at fault for the German lender’s woes – has realized that in addition to bond buyers (if not so much sellers), it needs to beef up its staffing in one critical area: banking supervision.
In a very ironic job posting announced on the ECB’s twitter feed, the ECB announced a job alert according to which it is now (or, perhaps at long last) hiring a banking supervision analyst.

This post was published at Zero Hedge on Sep 28, 2016.

General Collateral Rate Surges To Highest Level In 7 Years

In what may be an indication of a major collateral shortage, but most likely is simply a case of quarter-end “window dressing”, the overnight general collateral rate soared to 0.82% this morning, its highest print in nearly seven years, and roughly where it would trade if the Fed had hiked in September. GC soared to 0.85% yesterday afternoon yesterday after opening at around 0.68%.

This post was published at Zero Hedge on Sep 28, 2016.

THE TOP FOUR PRECIOUS METALS: Which Will Be The Best Investments During The Next Financial Crash

When the next financial crash occurs, investors need to understand which of the top four precious metals are the best to invest in. Unfortunately, there has been a great deal of faulty analysis that has mislead many investors about the fundamentals of gold, platinum, palladium and silver.
I will provide information in this article on the top four precious metals that has not been covered correctly by the majority of analysts. While some may have touched on individual aspects, very few have put together an in-depth analysis on these metals to properly educate investors.
However, before I get into the details of these top four precious metals, I would like to share some very important information.
When I wrote my article (few weeks ago) titled, THE COMING BREAKDOWN OF U. S. & GLOBAL MARKETS EXPLAINED: What Most Analysts Missed, it generated the most interest and commentary of any of my previous articles. It seemed to have hit a nerve in my followers and new readers.
In that article, I posted some of the charts by Louis Arnoux and the Hills Group. These charts explained the coming ‘Thermodynamic Collapse’ of the oil price and global oil industry… in a relatively short period of time. Since then, I have had several long conversations with Louis on the science and math of their work.
Let me tell you all, any doubts I have had about the accuracy and legitimacy of their work… IS COMPLETELY GONE.

This post was published at SRSrocco Report on September 28, 2016.

The Banquet Of Consequences Is Being Served

Sooner or later everyone sits down to a banquet of consequences.
~ Robert Louis Stevenson
Last week, the Federal Reserve decided to keep US interest rates unchanged, marking its 96th month of life at the zero bound. Apparently, for all of its “data dependence”, the Fed feels the economy could still benefit from *just* a little more of its ZIRP happy juice.
But as anyone with a little common sense will tell you, More is not always better. It’s quite possible to have too much of a good thing.
And in its pursuit to kick the can for a little longer, the Fed has crossed a dangerous line. Dangerous not just to the health of our market economy (that line was crossed a long time ago); but to its own existence. A central bank’s authority is based on faith in its power to effect its mandate. Last week’s decision was so toothlessly passive that even the Fed’s cheerleaders are beginning to question if it has any clue for how to escape from the corner it has painted itself into.
The Fed and its central banking brethren (most notably the European Central Bank, Bank of Japan, Bank of England and Bank of China), have decided to sacrifice investing for tomorrow (namely savings, and capital expenditure in productive enterprise) in favor of higher prices today for financial assets. By keeping interest rates historically low — and increasingly negative — around the world, they have pushed capital much farther out the risk curve than it deserves to be. All while adding trillions of more debt into an already dangerously over-leveraged economy, and lavishly rewarding the rich elite at the expense of everyone else.
As Stevenson wrote, sooner or later, the banquet of consequences must be supped on. And for the Fed, the dinner bell is ringing.

This post was published at GoldSeek on 28 September 2016.

Julian Robertson: “Janet Yellen Has Created A Serious Bubble And Pain Is Coming”

Discussing the present and future of the embattled hedge fund industry, Tiger Management’s Julian Robertson – one of the most prominent names in the field – said that hedge funds are facing “the most difficult time I’ve ever seen in the business” his investing career (observing that “there are a lot of people squeezing shorts”), and warned that the days of charging hefty fees may be over.
“’That type of business hasn’t worked lately, and it’s a tough business,’ Robertson, 84, said Tuesday on Bloomberg Surveillance in New York. ‘It’s tougher to be a hedge fund investor than ever before.’
Incidentally, the current debacle facing the hedge fund space, is something we have been warning about since 2012, when we predicted that as a result of central banks’ having taken over the role of the market’s Chief Risk Officer, there is implicitly no more downside risk, and thus no need to hedge; alternatively once central banks do lose control, no extent of hedges will compensate for the rout that would occur, which coupled with counterparty failure, would mean failure to satisfy obligations made under short trades.

This post was published at Zero Hedge on Sep 28, 2016.

Credit Crisis in Waiting

Clowns in the Coliseum
DUBLIN – The presidential debate began long after our bedtime, here in Ireland. So we got up this morning, rubbed our eyes, and watched the highlights. ‘Lowlights’ is perhaps a better way to describe it: two rascals making public spectacles of themselves, arguing about things that mostly don’t matter… posing, posturing, pretending.
If we had our druthers, both candidates would lose. That is unlikely. So, the show goes on. The press reports that Hillary ‘won.’ We’re not so sure. She seemed calm. Sensible. Composed.
She’s a master of the ‘facts.’ She’s smart. She also knows how the game is played; she’s lived at public expense almost all her life and intends to continue to do so. Trouble is, a substantial segment of the adult population is fed up with the game she’s playing.
They’re the ‘invisible Americans’ who have been swindled by the system… sent to fight fake wars they were never meant to win… the people whose jobs were shipped abroad… whose savings were robbed of their interest income by the Fed’s phony rates… and whose children’s futures have been impoverished by the fake economy.
They’d rather vote for an orangutan than for Hillary. The simians had too much self-respect to enter politics, so the Republicans ended up with Donald Trump. Poor Donald. He has some good ideas, some bad ideas, and some ugly ideas. If he only had half President Reagan’s dignity, he’d surely be our next president. And while the public watches the clowns in the coliseum, the empire wobbles.

This post was published at Acting-Man on September 28, 2016.