And Now The Work Begins

Today, in the light of the morning, what do we have in America today?
We have watched a tidal wave come ashore in Washington DC. We saw the impossible, according to the pundits.
But let’s have a bit of sobriety to go along with the wry smile, ok?
We still have policy acts that need to be addressed. In specific order of priority:
Health care monopolies must be broken up and those in the industry who resist must be jailed under existing anti-trust law. This has to happen right up front, especially if we are going to do “tax reform” (and we should) or the result will be deficits that explode so fast, and so ruinously that they will force interest rates up to near or even beyond those of the early 1980s, bankrupting everyone at once that has any debt at all. Simply put you have to take close to a trillion dollars out of the Federal Budget and $2 trillion out of the economy as a whole in terms of spending in this sector or our nation does not fiscally survive. This was true yesterday and it still is. The problem is illustrated here and one potential set of solutions is here, along with my 2012 article here.. “Repeal and replace” will not do it; you need to attack the problem, not remove the band-aids that were put over a sucking chest wound. President Trump can do the largest part of this without Congress since it requires only enforcing existing anti-trust law, and the responsibility to enforce the law rests solely with the Executive.

This post was published at Market-Ticker on 2016-11-09.

Trump Is Not Seeking Yellen’s Resignation, But Won’t Nominate Her For A Second Term

As we reported first thing this morning, one of the burning questions troubling Wall Street at this moment, is whether president elect Donald Trump plans on reshuffling the Fed, eliminating its so-called “independent” and perhaps going so far as firing or “requesting” Janet Yellen’s resignation.
To be sure, there has been sufficient animosity between Trump and the Fed chair: recall that in early September, Trump accused the Fed of “keeping the rates artificially low so the economy doesn’t go down so that Obama can say that he did a good job. They’re keeping the rates artificially low so that Obama can go out and play golf in January and say that he did a good job. It’s a very false economy. We have a bad economy, everybody understands that but it’s a false economy. The only reason the rates are low is so that he can leave office and he can say, ‘See I told you.’”

This post was published at Zero Hedge on Nov 9, 2016.

China Is Suddenly Dumping Treasuries

While we admit that “suddenly” is not exactly the right word to describe China’s selling of US Treasurys, which has been steadily liquidating its UST reserves over the past two years, something changed today, when in a violent move starting around the time of the Trump election was guaranteed after midnight, the offshore Yuan, the CNH, has been a one way street of non-stop selling, indicative however, of much more than just the relative strength of the dollar.

This post was published at Zero Hedge on Nov 9, 2016.

TRUMP WINS, GLOBALISM SET BACK 50 YEARS | Rob Kirby

The following video was published by FinanceAndLiberty.com on Nov 9, 2016
Rob Kirby of Kirby Analytics joins Silver Doctors to congratulate America for ‘a great victory for humanity and for the great people of the United States.’
Globalism has been likely set back by at least fifty years with the election of Trump, Kirby says. Despite the entire media and political establishment against him, Trump emerged as the victor. Kirby says there is clear evidence that even the voting was rigged. While the official numbers show the race was somewhat close. But taking into consideration the rigging, Trump won in a landslide, Kirby says.
Where does this election leave Hillary Clinton? Kirby believes justice will be rendered for Hillary Clinton and the people around her.

American Uprising

This wasn’t an election. It was a revolution.
It’s midnight in America. The day before fifty million Americans got up and stood in front of the great iron wheel that had been grinding them down. They stood there even though the media told them it was useless. They took their stand even while all the chattering classes laughed and taunted them.
They were fathers who couldn’t feed their families anymore. They were mothers who couldn’t afford health care. They were workers whose jobs had been sold off to foreign countries. They were sons who didn’t see a future for themselves. They were daughters afraid of being murdered by the ‘unaccompanied minors’ flooding into their towns. They took a deep breath and they stood.
They held up their hands and the great iron wheel stopped.
The Great Blue Wall crumbled. The impossible states fell one by one. Ohio. Wisconsin. Pennsylvania. Iowa. The white working class that had been overlooked and trampled on for so long got to its feet. It rose up against its oppressors and the rest of the nation, from coast to coast, rose up with it.

This post was published at Zero Hedge on Nov 9, 2016.

Trump Is About To Learn That The Recovery Is Fake & The Economy Is About To Collapse – Episode 1123a

The following video was published by X22Report on Nov 9, 2016
GM will be laying off 2000 employees. The corporate media is beginning to tell us how bad the economy is going to get. The housing market is declining rapidly. Wholesale misses expectations. Will trump get rid of Yellen or will he take the next step and get rid of the central bank. The election was manipulated and the established backed themselves into a corner with talk of Russian cyber hacking and no manipulation, never expecting the electoral college would vote for Trump. The central bank still exists, the shadow government still exists, Trump will need to overcome these obstacles or he will be brought into the fold and we will get the same as before, a government run behind the scenes

Gold Price Skyrockets in India after Currency Ban

India’s Government Makes Banknotes Worthless by Decree Overnight
As I write this in the morning of 9th November 2016, there are huge lines forming outside gold shops in India – and gold traded heavily until late into the night yesterday. Depending on who you ask, the retail price of gold has gone up between 15% and 20% within the last 10 hours.
At some places, it was sold for as much as US$ 2,294 per ounce. That is, if you can actually find physical gold – gold inventories at stores are rapidly depleting. All of this happened well before the international price started to move up because of the election results coming out of the US.
Last night (8th November 2016), India’s government banned the use of Rs 500 (~$7.50) and Rs 1,000 ($15) banknotes. This pretty much made most currency-in-use illegal. Banks and ATMs are closed today. The government believes that doing this will help eradicate corruption and push counterfeit money out of circulation. According to the Indian government, the counterfeit money tends to come from Pakistan and helps finance terrorism.
My first instinct when I heard the news was that people would be on the streets this morning. There would be riots and the Indian Prime Minister, Narendra Modi, would be unceremoniously thrown out. Despite being a huge critic of him, I thought he at least had the spine to take bold action, however erroneous it might have been.
I am sometimes too optimistic about India and expect too much goodness from Indians. And I was wrong.

This post was published at Acting-Man on November 9, 2016.

Do You Believe In Miracles?

We have never seen anything like this in the history of American politics. Donald Trump’s shocking victory on election night is nothing short of a modern day miracle. Several weeks ago I told my readers that it would take the biggest political miracle ever in order for Trump to win, and I had been strongly urging them to vote, but even early on election night I was skeptical that Trump could actually pull it off. Initially the results coming out of Florida, North Carolina and Ohio looked rather ominous, and a lot of Trump supporters were freaking out. But those initial numbers strongly reflected early voting results, and those results typically favor Democrats. Once the Election Day numbers started rolling in, it was clear that there was a massive unanticipated wave of momentum for Trump.
Once I saw that Virginia was going to be much more tightly contested than anticipated and that Trump had jumped out to a lead in Michigan, I realized that Trump had a really good shot at winning the whole thing. Over Skype I told a stunned audience that the numbers were looking really good for Trump, but it was still so early in the evening that I don’t know if a lot of people believed me. And I certainly didn’t blame them, because I could hardly believe it myself.
Once Trump took the lead for good in Pennsylvania, I knew that it was all over. My wife and I looked at each other in disbelief, and we are still trying to come to grips with a future that we didn’t think was possible.
Watching Donald Trump speak to the American people after he had been declared the winner was a surreal experience. At this moment, it still doesn’t seem real to me that he could become the next president of the United States a little more than two months from now. But at this point it looks like that is precisely what is going to happen.

This post was published at The Economic Collapse Blog on November 9th, 2016.

Why Trump and not Paul?

Donald Trump led a gut-level attack on the Establishment. Listening to a Trump speech you didn’t learn economics or the philosophy of liberty; you only heard what you already knew: you were getting the shaft from the elites.
Ron Paul understands liberty and how it relates to economics, especially monetary theory, and attempted to educate Americans on some important points. Although his approach had strong appeal to young people it didn’t wake up enough older Americans to create a major movement.
And that was our loss. Is it too late? Maybe not.
Ron Paul rightly made the Fed a campaign issue. As I understand him, he sees the Federal Reserve as the institution most responsible for the decline of our civilization. Aside from government itself, I agree.
Main Street people don’t understand the Federal Reserve. They sometimes confuse it with the Treasury if they think about it at all. They have no idea what the Fed really does, other than adjust interest rates somehow. To them the Fed is a big black box, but evidently an important one. The FOMC gets together every so often and issues statements that are meaningful to a handful of people. It is Greek to the rest.
This is one way the Fed protects itself. If it were widely seen as a monopoly counterfeiter the legitimacy of government would collapse.

This post was published at GoldSeek on 9 November 2016.

Carl Icahn Bought $1 Billion In Stocks During “Trump Crash”

As we explained first thing this morning, the market’s correct reaction upon learning of the Trump presidency, was not to dump equities “limit down”, but rather to buy every risk asset in sight, now that Trump is preparing to unleash the inflation monster, something the market realized later in the trading day, leading to the biggest one-day percentage move on record in bond yields, and stock market surge that has led to a 1,000 rebound in the Dow Jones to all time highs.
However, not everyone was dumping. While the Dennis Gartmans of the world were liquidating their portfolios at lowest print of the year, warning of “fully engaged bear markets”, Trump’s close confidante and person speculated to be Trump’s Treasury Secretary, Carl Icahn was waving it in.
As Bloomberg reports, while Donald Trump celebrated his surprise election win over Hillary Clinton and equity futures swooned in response, billionaire investor and Trump supporter Carl Icahn headed home to start trading. Icahn, left President-elect Trump’s victory party in the early hours of the morning to buy about $1 billion in U. S. equities, he said Wednesday in an interview with Erik Schatzker.

This post was published at Zero Hedge on Nov 9, 2016.

The Market is in Shambles, What’s Next Could be Worse

If a #Trump victory didn't wreck the stock market, the Fed will. Rate hike still coming in December. pic.twitter.com/uFFGLzfr8M
— Jim Rickards (@JamesGRickards) November 9, 2016

While the financial market might be all consumed by the chaos from the election, there is something even more perilous on the horizon and coming fast. It’s not Trump. It is, as G. Edward Griffin labeled it, The Creature From Jekyll Island.
The US Federal Reserve has set the groundwork to raise interest rates in December, and potentially multiple times in the next year ahead.
The market continues to have a persistent fear of interest rate hikes. The real issue that markets should be focusing on appears to be lost in the noise.
What happens when the next crisis hits and a real recession recession is triggered in which global markets begin to crack again? Under such circumstances how far can the Fed actually cut rates if they are only at a laughable one or two percent?
The U. S central bank has positioned itself into a very narrow corner.
This could mean detrimental impacts on the longevity of cheap money afforded by the US central bank. It could impact the global fiat money culture that has permeated just under the surface in order for investors to have enough confidence to carry on. It could show that the house of cards of the economy is taking on water.

This post was published at Wall Street Examiner by Craig Wilson ‘ November 9, 2016.

Hillary Spent Nearly Twice As Much Per Vote As Trump… For Nothing

Donald Trump pulled off one of the biggest upsets in American political history last night and he was able to do it after spending nearly half of what the Clinton campaign spent. According to Reuters, Hillary Clinton raised over $520 million for her campaign compared to only $270 million for Trump, much of which came out of his own pocket. Given the current popular vote count those spending figures equate to roughly $8.80 per Hillary vote versus $4.57 for Trump. Moreover, those spending figures don’t even factor in the money spent by the various Super PACs where Hillary likely outspent Trump by a hefty margin as well.
Relying heavily on an unorthodox mix of social media, unfiltered rhetoric, and a knack for winning free TV time, the New York real estate magnate likely paid less than $5 per vote during his insurgent White House bid, about half what Clinton paid, according to a Reuters analysis of campaign finance records and voting data. Those figures assume the candidates spent all the funds they raised.
Trump’s cost-effective win has upended prevailing concepts about the influence of money in American politics and raised the question of whether a lean, media-savvy campaign can become the new model for winning office in the United States

This post was published at Zero Hedge on Nov 9, 2016.

Trump Victory, The Economy, And Gold

The Trump victory was expected by the jackass, but to be honest, it took my breath away with a certain dash of surprise. At an hour past 2am, I could not break away from the TV set, wanting to see the final result. I actually covered my eyes and had empty tears with joy. The US nation can now move past the NeoCon era, the warmonger era, the bank fraud era, the economic gutting era whereby the NeoCon nazis almost completely destroyed their host. Many key figures among the elite will find themselves being hunted, not just by the law enforcement, but by hidden entities with intentions to clean the planet of this deeply corrupted human vermin. Trump as president will have an enormous daunting task to rebuild the national economy, which has been systematically wrecked by the BushJr Admin and the Obama Admin. For those still too dim mentally to perceive, the NeoCons cut across political parties, joining the Bush Team, the Clinton Team, and the Obama Team with narcotics and globalization their common cord. That cord will be cut.
The next big shock to hit the United States will be a positive thrust from the end of military threatened conflict with respect to Russia, and even to China. With Russia the detente will involve a measured end to sanctions and a possible dismantle of NATO, whereby the Gazprom pipeline might be agreed upon with some special provisions that benefit the poorer European states. With relaxed tensions on the Chinese front, look instead to new escalation to trade war between the US and China. Trump has promised to reverse tax breaks for US-based multinational corporations that outsourced labor to the Asian front, only to have their output imported into the US. Expect some thorny negotiations, and some compromise, along with a truly massive reconstruction of the USEconomy with thousands of new little companies being formed, even with free trade zones.

This post was published at GoldSeek on 9 November 2016.

President Trump’s Political Black Swan

What the hell just happened?
America just happened.
Yes, it’s the most astonishing political surprise of your lifetime if your last name was Clinton or Bush.
In short, America just raised a giant middle finger to the bipartisan ruling class.
Here’s what it all means…
What We Learned…
Early on, here are things we learned on Election Day…
Trump campaigned on the theme of draining the Deep State swamp in Washington. Mainstream Americans just gave him the green light to do just that.

This post was published at Wall Street Examiner by Michael Covel ‘ November 9, 2016.

Will Trump Fire Janet Yellen? Here Is Wall Street’s Response

One of the burning questions troubling Wall Street this morning, now that stocks have managed to successfully absorb last night’s limit down selling and most recently were trading at highs of the day, is whether president elect Donald Trump plans on reshuffling the Fed, eliminating its so-called “independent” and perhaps going so far as firing or “requesting” Janet Yellen’s resignation.
According to T. Rowe Price’s chief economist, Alan Levenson, Trump’s proposals “threaten to undermine global faith in the independence of the Federal Reserve and the geopolitical standing of the United States.” Others, such as FBR’s Edward Mills went further: “The future of Janet Yellen’s chairmanship and the accommodative nature of Fed monetary policy are in doubt.” Deutsche Bank strategist George Saravelos had a similar view: “the market will be looking for confirmation that Chair Yellen will not resign. Trump has been particularly critical of her term so policy continuity will be particularly important.”
So to answer the question whether or not Yellen’s role is in jeopardy, we went to the two most authoritative sources available: the two biggest and most influential US banks: JPMorgan and Goldman Sachs. In a note written on November 7, before Trump’s election, JPM’s chief economist Michael Feroli asked “If Trump wins would Yellen leave?” and answered: “In a word: no.”

This post was published at Zero Hedge on Nov 9, 2016.