Half Of The Population Of The World Is Dirt Poor – And The Global Elite Want To Keep It That Way

Could you survive on just $2.50 a day? According to Compassion International, approximately half of the population of the entire planet currently lives on $2.50 a day or less. Meanwhile, those hoarding wealth at the very top of the global pyramid are rapidly becoming a lot wealthier. Don’t get me wrong – I am a very big believer in working hard and contributing something of value to society, and those that work the hardest and contribute the most should be able to reap the rewards. In this article I am in no way, shape or form criticizing true capitalism, because if true capitalism were actually being practiced all over the planet we would have far, far less poverty today. Instead, our planet is dominated by a heavily socialized debt-based central banking system that systematically transfers wealth from hard working ordinary citizens to the global elite. Those at the very top of the pyramid know that they are impoverishing everyone else, and they very much intend to keep it that way.

This post was published at The Economic Collapse Blog on November 22nd, 2016.

Silver and Gold – We Can’t Understand It for Them

For years I have calmly, patiently, and for the most part rationally, listened to friends, family, patients, and colleagues grapple with the notion of precious metals.
The majority understand the basic reasons why some portion of portfolio allocation is necessary or prudent, but very few have (or will) taken action.
Often, people are shocked that I would be interested in the matter to begin with. I think subconsciously people understand to be a ‘Doctor’ is to be a teacher, but on the surface most people find it odd and uncomfortable to accept my interest and quest in something that rarely occurs to them.
Occasionally, there will be debate. I don’t necessarily look for them. Experience with humans of all ages and from all walks of life has afforded me a healthy dose of humility. But I’m happy and proud to go as far as anyone would like about money, finance and especially silver.
No matter how tempting it is, no matter how strong the need is to be right and to feel vindicated, it is normally fruitless. I don’t know where I first heard it, but one of my favorite expressions has become:
‘I can explain it to you, but I can’t understand it for you.’

This post was published at SilverSeek on November 22, 2016.

Gold’s Upside and Downside Targets

In yesterday’s alert we wrote that staying on the sidelines appeared to be a good idea for the next several days as the short-term outlook became more bullish, even though the medium-term outlook became more bearish (due to the USD’s breakout). Actually, at the moment when our yesterday’s alert was sent, gold and silver’s prices were below the entry prices, so the position was closed at a profit.
In yesterday’s session, not much changed – the USD declined a bit, while the opposite was the case with gold, silver and mining stocks. Nothing extraordinary took place.
However, today’s pre-market trading is more interesting. The USD Index is basically flat, but silver jumped up almost $0.30, showing strength. Gold is up as well. The above relative price moves confirm that the precious metals sector really wants to move higher in the short term, and that until it does, daily declines will be limited. Let’s take a look at the USD Index chart (charts courtesy of

This post was published at GoldSeek on 22 November 2016.

Gold Daily and Silver Weekly Charts – Comex Option Expiration – Tableau Sans Vie

“The Unspeakable –
It is the void that contradicts everything that is spoken even before the words are said; the void that gets into the language of public and official declarations at the very moment when they are pronounced, and makes them ring dead with the hollowness of the abyss.
It is the emptiness of the end. It is the void out of which Eichmann drew the punctilious exactitude of his obedience.
You are in no position to issue commands, but you can speak words of hope.
Shall this be the substance of your message? Be human in this most inhuman of ages; guard the image of man, for it is the image of God.”
Thomas Merton
Gold and silver largely marked time today on the December option expiration for precious metals on the Comex.
There was nothing of importance in the delivery reports, and little to note in warehouse movements.

This post was published at Jesses Crossroads Cafe on 22 NOVEMBER 2016.

Lifetime Income: Retirement Pitfalls and How to Plan for a Recession

Many retirement planners often follow the standard advice in the industry based on historical returns and planned drawdowns rates, but the fact is, when you retire can make all the difference.
This time on the Financial Sense’s Lifetime Income Series, Jim Puplava discussed some of the pitfalls of model assumptions and how investors can protect their nest eggs when downturns inevitably occur.
Timing Is Everything
Historical models and drawdown rate projections are based on assumptions that may not hold out for every person in every retirement situation, Puplava noted.
Imagine if you retired in the year 2000. The stock market lost basically 49 percent, and then in 2002 the stock market went back up, until the fall of 2007, at which time it lost another 57 percent. It wasn’t until April of 2013 that the S&P finally exceeded the old highs that were reached in March of 2000, Puplava stated.
‘If you were invested in stocks between January 2000 and April 2013, your stock portfolio went essentially nowhere,’ Puplava noted.

This post was published at FinancialSense on 11/22/2016.

Helicopter Money Has Arrived… And Nobody Noticed: Here’s Why

Deutsche Bank’s Jim Reid is one of the few strategists on Wall Street to admit he was wrong (although he may still end up being right). Previewing his annual credit outlook titled “Volatility Ahead”, Reid confesses that “we’ve long felt that as we approached 2017 we would likely be at the turning point of the credit cycle. Indeed our forecasts are for wider spreads in our annual outlook for the first time since the Euro Sovereign crisis earlier this decade. However in the course of writing this outlook much has changed.”
The strategist admits that, alongside virtually everyone else on Wall Street, he became bullish, overnight on just one catalyst: the election of Donald Trump, which was universally panned by most experts (if not here) as a major selloff catalyst only for everyone to pull a “Bill Ackman” and realize the next morning that (as we explained) that Trump is actually extremely bullish for risk assets.
“The forecasts are less bearish than they would have been when we started writing this publication in late October partly because spreads have widened notably since and also the probabilities of a US recession in 2017 have lessened given the possibility of aggressive fiscal spending from the new US administration.”
Naturally, this is the bullish assumption which in the past two weeks has been adopted by all, namely that Trump will unleash a trillion dollar (or more ) debt issuance spree, aka “massive” fiscal stimulus, an assumption which we explained yesterday will soon be challenged by Congressional Republicans. However, more than a simple political hurdle, a greater gating factor is what happens to interest rates, a traditional buffer to risk assets any time the economy is on the verge of overheating: should they rise too high, the entire stock market house of cards falls.

This post was published at Zero Hedge on Nov 22, 2016.

Gold Bull Market Remains Intact – Long Term Fundamentals Outweigh Short Term Market Gyrations

A Strong First Half of the Year, Followed by Another Retreat
In early 2016 gold had a big bull run. The precious metal rose close to 25% this year, pushed higher in a summer rally that peaked on July 10th. Gold experienced a bumpy ride over the remainder of the summer though, as investors became increasingly concerned about a potential rate hike by the Federal Reserve. Uncertainty returned to gold market and has intensified further since then.
Initially, gold rallied sharply in 2016, but then retreated again in the second half as concerns over Fed rate hikes and the impact of Mr. Trump’s election victory have pushed bond yields and the US dollar up in the short term.
Trusting the Establishment a Bit Too Much?
Investors cannot be blamed for their skittishness, considering the misleading information released by officials. Fed chair Janet Yellen stated at the Jackson Hole meeting of central bankers that the case for rate hikes had ‘strengthened’, yet she gave markets little guidance on timing, saying that rate hikes would be ‘gradual’ and happen ‘over time’.
This probably discouraged investors from buying gold, because they still trust the establishment and consider the Fed to have credibility. A rate hike offers investors an alternative to owning gold, as gold doesn’t pay interest. Higher interest rates also tend to dampen price inflation – which is held to be negative for the gold price as well.

This post was published at Acting-Man on November 22, 2016.

NOV 22/YESTERDAY REG HOWE/TODAY AVERY GOODMAN: A MUST READ../BILL HOLTER AND THE HUGE AMOUNT OF CONTRACTS STANDING FOR DELIVERY FOR THE DECEMBER CONTRACT MONTH/THE FEUD BETWEEN DONALD TRUMP AND T…

Gold closed at $1211.0 UP $1.40
silver closed at $16.62: UP $0.11
Access market prices:
Gold: 1212.70
Silver: 16.68
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
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 Nov 22 (10:15 pm est last night): $ 1232.32
NY ACCESS PRICE: $1217.50 (AT THE EXACT SAME TIME)/premium $14.82
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1235.43
NY ACCESS PRICE: 1215.10 (AT THE EXACT SAME TIME/2:15 am)
HUGE SPREAD 2ND FIX TODAY!!: $20.33
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
London Fix: Nov 22: 5:30 am est: $1217.55 (NY: same time: $1218.10 5:30AM)
London Second fix Nov 22: 10 am est: $1212.25 (NY same time: $1213.10, 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 November 22, 2016.

Oil Slides After Bigger Than Expected Gasoline Build

After a day of frenetic OPEC headlines being all that matters, oil traders may briefly focus on fundamentals as API reports an unexpectedly large build in gasoline inventories ( 2.68mm vs 900k exp). Overall crude, cushing, and distillates saw inventory draws which left wti slightly lower post-data.
API
Crude -1.28mm ( 1mm exp) Cushing -140k (-100k exp) Gasoline 2.68mm ( 900k exp) Distillates -350k

This post was published at Zero Hedge on Nov 22, 2016.

Why the OPEC Oil Deal Is Now in Doubt

It’s a bit after 3 a.m. as I’m writing this here in Abu Dhabi. At least I think that’s what it is. After 16 hours of flights, across nine time zones, and a down day to recover from arriving in the Persian Gulf sick, it’s difficult to tell.
But there’s something you need to know…
When I left the United States on Tuesday, Nov. 15, crude oil had just posted its strongest one-day rally of 2016. WTI (West Texas Intermediate, the benchmark crude rate traded in New York) shot up $2.49 or 5.8% for the day. The rise kept gaining speed as some traders had to unwind their short positions.
That’s been great news for energy investors, as shares across the oil sector have risen – especially in the case of premium U. S. shale producers.
Of course, this has followed a period of weakening oil prices. Even after Tuesday’s monster gain, WTI was up only 1.2% for the week and was still down 8.9% for the month. Now, prices should consolidate over the rest of the week.
But one factor is currently overriding everything else when it comes to the price of oil…

This post was published at Wall Street Examiner by Dr. Kent Moors ‘ November 22, 2016.

And The Rich Get Poorer? Swiss Watch Exports Collapse At Fastest Pace Since Lehman

For the 16th month in a row (longer than the 14 month stretch during the financial crisis), Swiss Watch exports have collapsed year-over-year. As Bloomberg reports, the 16.4% plunge in October is the biggest monthly drop in seven years, as demand weakened in almost every major market for Rolex and Omega timepieces.
Bloomberg adds that shipments fell to 1.68 billion francs ($1.7 billion), the Federation of the Swiss Watch Industry said in a statement Tuesday, with 13 of the top 15 markets were negative in October.

This post was published at Zero Hedge on Nov 22, 2016.

Too Early for ‘Inflation Bets’?

The Trump Trade
After 35 years of waiting… so many false signals… so often deceived… so often disappointed… bond bears gathered on rooftops as though awaiting the Second Coming. Many times, investors have said to themselves, ‘This is it! This is the end of the Great Bull Market in Bonds!’
And then, at the appointed hour, expecting the rapture… they took the leap of faith only to come crashing down on the rocks below. In 2008, in 2012, in 2014 – Each time, the market made fools of them.
Now, weary, wary and nearly broke, they make their bets as though they were setting an explosive charge at a federal building. ‘Bond rout accelerates as Trump stimulus vow spurs inflation bets’, reports the Financial Times.
More than $1 trillion has been clipped from global bond values in the last week. Meanwhile, the Dow continues to move up, closing in on 19,000 and a new all-time high. This is the ‘Trump trade’ – the bet that the incoming administration will be good for stock prices and bad for bonds.
It will be good for stocks, they believe, because ‘The Donald’ proposes to lower corporate taxes, remove regulation that stifles certain sectors, and reward other sectors – infrastructure and the military – with more money.

This post was published at Acting-Man on November 22, 2016.

As TPP Dies, Asian Nations Salute Their New “Free Trade” Leader: China

Over the weekend we reported that as Obama was speaking at the APEC summit in Peru, hoping to salvage his global trade legacy, the TPP, China’s President Xi Jinping officially called for the launch of the Free Trade Area of Asia-Pacific for “institutional guarantee of open economy”, a move many had expected would take place as China was eager to fill in the void left by the US in any trans-Pacific trade treaty.
As we previously reported, in his speech in LIma, Xi Jinping sought to position himself as a leader in global commerce, vowing to support trade. The attendees signaled ‘deepening economic integration and opposing trade protectionism,’ the Foreign Ministry spokesman said on Tuesday.
Then, overnight, China got a present when Trump announced in a brief video statement that his first executive order upon becoming president would be to remove the US from the TPP. That’s all Beijing needed to hear and this morning China said it hoped to conclude an Asia-wide trade pact as soon as possible, in what the WSJ dubbed was “a sign of Beijing’s intent to broaden its regional influence amid the apparent collapse of the U. S.-backed Trans-Pacific Partnership.”

This post was published at Zero Hedge on Nov 22, 2016.

Very “Special” 5 Year Auction Tails Despite Massive Short Overhang

The most notable thing about today’s Treasury auction of $34 billion in 5 Year paper is not what happened after the 1pm announcement of its pricing, but what has been taking placed in the last few days, where as the following charts from SMRA, there has been a major surge in shorts, who have in turn sent the underlying paper “super special” in repo, to the tune of -2.50% as of this morning.

This post was published at Zero Hedge on Nov 22, 2016.

Beware: The Plot to Socialize Your Retirement Has Already Begun

The federal government and Wall Street are at it again, scratching each other’s backs at your expense…
They did it in 1999, when the government repealed Glass-Steagall – and opened the door leading to the Financial Crisis.
They did it in September 2008, when the Treasury Department loaned Wall Street banks $700 billion of U. S. taxpayer money to bail them out from their own misdeeds, many of which stemmed from repealing Glass-Steagall.

And now these two institutions are pushing to socialize your retirement savings accounts…

This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ November 22, 2016.

World Stock Markets Higher Amid Rallies In Key Commodity Markets And Trump Effect

(Kitco News) – Global stock markets were mostly firmer Tuesday, boosted by generally higher raw commodity market prices, led by crude oil. Nymex crude oil futures prices hit a three-week high overnight and are closing in on $50.00 a barrel. Energy market watchers now reckon the OPEC oil cartel may be able to come to a final agreement to cut production at next week’s meeting. Iran and Iraq are reportedly backing the production-cut plan.
U. S. stock indexes are pointed toward higher openings when the New York day session begins. The S&P 500 stock index futures hit a record high overnight.
World equity markets are continuing to see the bullish ‘Trump effect’ among traders and investors. Ideas of less business regulation and more spending, including infrastructure rebuilding, are buoying share prices worldwide.
Gold prices are moderately higher in early U. S. trading, on short covering and bargain hunting, and amid a weaker U. S. dollar and firmer crude oil prices on this day.

This post was published at Wall Street Examiner on November 22, 2016.

“What If Market Consensus Is Wrong” – A Hedge Fund Ponders The Alternative

A week ago we posed a simple qustion:”is the market wrong” in bidding up risk assets in a time of rapidly tightening financial conditions. With the S&P likely set to rise above 2,200 today, a new all time high, the market at least for now, remains “right.” However, more doubt has emerged.
In a note from our friends at Fasanara Capital, CIO Francesco Filia repeats the question we posed last week, contemplating what may be a “delusion” emerging on the boundary between reflation/growth and a QE bubble unwind. As Filia puts it, “what if consensus is wrong: what if rates are rising due to the end of Quantitative Easing and not because of reflation/escape velocity on growth?” He continues:

Rates then rise without growth, perhaps even without much inflation. Indeed, rates started rising back in August, on momentous shifts in policy by BoJ (forced by capacity constraints and collateral damage). Such scenario is not good for equities, contrary to what currently believed by markets.”
Indeed, such a scenario would be the worst possible one: with potential stagflation on the horizon, the last thing markets can afford is a withdrawal in central bank support just as US deficit funding needs are set to spike, something we have been cautioning for the past two weeks.

This post was published at Zero Hedge on Nov 22, 2016.