As Retail Investors Flood Into Stocks, Professionals Are Dumping Speculative Longs

“Fear of missing out” is quickly becoming the go to phrase for what’s left of America’s stock market investors. As The Wall Street Journal reports, investors have poured money into stocks through mutual funds and exchange-traded funds in 2017, with global equity funds posting record net inflows in the week ended March 1 based on data going back to 2000, according to fund tracker EPFR Global. Inflows continued the following week, even as the rally slowed.

This post was published at Zero Hedge on Mar 11, 2017.

Vitol Warns U.S. Crude Exports Will Grow “A Lot More”

Authored by Tsvetana Paraskova via,
Rising production in the Permian, coupled with cheap pipeline and railway transport fees to the Gulf of Mexico, will enable the U. S. to significantly raise its already record-high crude oil exports, Mike Loya, head of the Americas business at oil trading giant Vitol Group, told Bloomberg in an interview published on Friday.
‘We will see a lot more growth in U. S. crude exports,’ said the manager of Vitol, the company that handled the first U. S. cargo after restrictions on oil exports were lifted at the end of 2015.
Since the restrictions were lifted, U. S. crude oil has reached customers in various regions around the world, including buyers in Venezuela, China, Italy, and Israel.
Vitol’s Loya believes that Asia will be increasingly one of the top destinations for U. S. crude oil, after the initial expansion to the Caribbean markets, Latin America, and Europe.
According to Loya, the Permian crude production would increase by between 600,000 bpd and 700,000 bpd by the end of this year, and ‘a lot of that is going to be exported’. The EIA currently expects U. S. crude oil production to average 9.2 million bpd this year and 9.7 million bpd next year, compared to an estimated 8.9 million bpd pumped in 2016. The Administration’s latest Drilling Productivity Report shows that the Permian is expected to add 70,000 bpd to its production this month to reach 2.250 million bpd.

This post was published at Zero Hedge on Mar 11, 2017.

Markets Have Finally Woken Up

This is a syndicated repost courtesy of The Daily Reckoning. To view original, click here. Reposted with permission.
[Daily Reckoning Ed. Note: Jim Rickards’ latest New York Times bestseller, The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis, is out now. Learn how to score your free copy here. This vital book transcends geopolitics and rhetoric from the Fed to prepare you for what areas in gold, markets and more you should be watching now.]
I’ve been warning my readers since last December that the Fed was on track to raise interest rates on March 15.
I was almost alone in that view. Market indicators were giving only a 25% chance of a rate hike. Wall Street analysts were paying lip service to the idea that the Fed might raise rates twice before the end of the year but said the process might begin in June, not March.
Wall Street expectations and market indicators did not catch up with Fed reality until last week, when expectations moved from 30% to 90% in four trading days before converging on 100%.

This post was published at Wall Street Examiner by James Rickards ‘ March 11, 2017.

Insanity Still Rules: Bullish For Gold And Silver

The emergence of an unexpected BREXIT victory, followed by an even more unlikely event, a Trump presidential victory are the outgrowth of the global elites having far exceeded their [almost] unspoken, unchallenged rule of the world, accomplished mostly by controlling the world’s money.
Money. One of the most common words in every language, yet the least understood, and by preference and design re the moneychangers. We will address ‘money’ solely from a US perspective, not out of arrogance, but because money has a lawful definition that has been turned upside down by the likes of Rothschilds and other banking elites.
We have been down this road before, but people either do not get it, do not care, or are so woefully ignorant beyond salvation. There is only one form of money [also true throughout much of the world but lost in globalization over so many decades], and that form is in gold and silver. The Coinage Act of 1792 established silver as the monetary money of account in the United States, and while the government and federal courts still refuse to acknowledge it, that law has never been overturned and still applies, [at least it is supposed to apply.]

This post was published at Edge Trader Plus on March 11, 2017.

California Is Exporting Its Poor To Texas

California exports more than commodities such as movies, new technologies and produce. As The Sacramento Bee reports, it also exports truck drivers, cooks and cashiers.
Every year from 2000 through 2015, more people left California than moved in from other states. This migration was not spread evenly across all income groups, a Sacramento Bee review of U. S. Census Bureau data found. The people leaving tend to be relatively poor, and many lack college degrees. Move higher up the income spectrum, and slightly more people are coming than going. About 2.5 million people living close to the official poverty line left California for other states from 2005 through 2015, while 1.7 million people at that income level moved in from other states – for a net loss of 800,000. During the same period, the state experienced a net gain of about 20,000 residents earning at least five times the poverty rate – or $100,000 for a family of three. ‘There was really nothing left for me in California,’ said Kundurazieff, who also writes a blog about his cats. ‘The cost of living was high. The rent was high. The job market was debatable.’
Not surprisingly, the state’s exodus of poor people is notable in Los Angeles and San Francisco counties, which combined experienced a net loss of 250,000 such residents from 2005 through 2015.
The leading destination for those leaving California is Texas, with about 293,000 economically disadvantaged residents leaving and about 137,000 coming for a net loss of 156,000 from 2005 through 2015. Next up are states surrounding California; in order, Arizona, Nevada and Oregon.

This post was published at Zero Hedge on Mar 11, 2017.

EU Summit Reveals the Discontent – Are its Days Numbered?

The EU summit on Thursday ended illustrating the deep divisions and how the EU is collapsing. Poland has rejected the re-election of President Donald Tusk, who is Polish, for his autocratic leadership that refuses to look at the economic decline. Poland tried to block his election and this has led to a deep disagreement between Poland and the rest of the EU member states. Poland denounced the EU as an instrument of German power interests and vetoed all resolutions of the summit. Poland responded to its efforts to prevent the confirmation of Tusk at the head of the council.
Tusk, in response, warned Poland: ‘Be careful what bridges you break behind you,’ he said. Because after ‘you can never cross them’.
The Polish government has made it clear that Germany refuses to listen to the views of other members and imposes its economic views of austerity upon the whole of Europe because of Merkel’s misapprehension of the German Hyperinflation. Poland delivered very serious accusations to EU summit partners. ‘We now know what that is, an EU under the dictate from Berlin,’ said Foreign Minister Witold Waszczykowski. They have made it clear that the fact that a large country such as Poland is ignored is a ‘very poisonous union’.

This post was published at Armstrong Economics on Mar 11, 2017.

Threat Level Midnight! Treasury Cash Balance Plummets As Debt Ceiling Looms On March 15th

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.
Threat level midnight! The Bipartisan Budget Act of2015 suspended the statutory debt limit through Wednesday, March 15, 2017. Beginning on Thursday, March 16, 2017, the outstanding debt of the United States will be at the statutory limit.
Bear in mind that the US Public Debt has doubled since August 2008. And the debt ceiling has been raised (and then suspended) 12 times since 2005.
But here we sit with Treasury burning cash at a staggering rate of speed. The Treasury’s cash balance is rapidly approaching zero. In other words, Uncle Sam will likely run out of money very shortly. Take a look how the Federal government spends your money.

This post was published at Wall Street Examiner on March 11, 2017.

Restaurant Recession Meets February Debacle

What does inflation have to do with it? Restaurants should have done well in February. The economy created 235,000 jobs, according to the Bureau of Labor Statistics. The big gain was ascribed to the weather – the warmest February in 100 years. Weather-sensitive industries, such as construction, went on a hiring binge. The exuberance should have led to activity at restaurants. Compared to Februaries when people stayed home because polar vortices marauded much of the nation, this time, the weather invited them to head out.
But no. Folks stuck in the real economy and not benefiting from the surge in stocks, or those who’re paying with their last dime for the surge in housing costs, they’re cutting back on restaurant meals.
Same-store restaurant sales in February dropped 3.7% and foot traffic dropped 5.0% from a year ago, according to TDn2K’s Restaurant Industry Snapshot.
This comes after a January report, from which emanated for the first time in a while some sort of gloomy optimism, titled with delicious irony: ‘Flat Sales, Welcome Change for Restaurant Industry in January.’ It went like this: ‘While same-store sales growth was flat (zero percent) in January, it represented a welcome break from the ten consecutive months of negative sales growth experienced by the industry.’

This post was published at Wolf Street on Mar 11, 2017.

Intruder Arrested After Entering White House Grounds With Trump Inside

Shortly before midnight last night, with President Trump in residence, Secret Service arrested a backpack-carrying man who breached security by scaling a fence near the south entrance to The White House.
The Washington Post reports, the person scaled a White House fence Friday night and was arrested on the grounds of the presidential residence, according to the U. S. Secret Service.
The incident occurred about 11:38 p.m. on the south grounds of the executive mansion. Uniformed officers with the Secret Service arrested the person without incident, according to a statement.
Authorities said the person was carrying a backpack that was searched. It did not contain any hazardous materials, the Secret Service statement said.
Officials did not identify the person who was arrested. Officers searched the north and south grounds of the White House complex and found nothing.

This post was published at Zero Hedge on Mar 11, 2017.


Gold: $1200.70 down $1.70
Silver: $16.88 down 11 cents
Closing access prices:
Gold $1205.00
silver: $17.03
For silver: For silver: MARCH 135 NOTICES FILED TODAY FOR 675,000 OZ/
Total number of notices filed so far this month: 2748 for 13,740,000
Let us have a look at the data for today
In silver, the total open interest FELL by ONLY 1874 contracts DOWN to 189,548 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 0.948 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia & ex China).
In gold, the total comex gold FELL BY A TINY 1790 contracts WITH ANOTHER FALL IN THE PRICE GOLD ($6.10 with YESTERDAY’S TRADING) The total gold OI stands at 432,298 contracts.
we had 2 notice(s) filed upon for 200 oz of gold.

This post was published at Harvey Organ Blog on March 10, 2017.

NYC Isn’t The Only Place The “Rent Is Too Damn High”; Euros And Canadians Also Struggle To Make Rent

Jimmy McMillan III, the now infamous founder of the “Rent Is Too Damn High Party”, as well as a self-described karate expert, Vietnam War vet, former postal worker and male stripper, has made it his mission for the past two decades to fight rising rents in New York City that have persistently pushed lower-income families out of Manhattan to make more room for America’s Ivy-League educated, entitled snowflakes.
But according to recent data published by Harvard’s Joint Center for Housing Studies (JCHS) and the Organization for Economic Cooperation and Development (OECD), the Big Apple isn’t the only place where a significant portion of the population is struggling to meet monthly rent payments. In fact, per the JCHS, the U. K., Spain and Canada join the U. S. to round out the list of the top four countries in the developed world where 20-30% of renters spend more than 50% of their gross income on rent alone.

This post was published at Zero Hedge on Mar 10, 2017.

Ted Butler Quote of the Day 03-11-17

“As far as Friday’s COT report, without putting actual numbers on it, I will be surprised if we don’t see the biggest reductions in managed money long and commercial short positions in months. Additionally, Friday’s Bank Participation Report should help clarify JPM’s silver short position. While I’m sorry I didn’t sidestep this blatantly engineered sell-off, the truth is I would have also reentered just as quickly given the signs emanating from the March silver delivery month and my still open premise about a partial managed money liquidation. At least there should be no question about why we’ve moved lower.”

A small excerpt from Ted Butler’s subscription letter on 08 March 2017.

  More precious metals news & information available at
Ed Steer’s Gold & Silver Digest.

“The Retail Bubble Has Burst” – Summarizing The Dark 4Q Earnings Commentary Of Retail CEOs

Amazon’s willingness to sell almost any product imaginable at a loss, combined with a massive bubble in retail real estate square footage courtesy of decades of low interest rates seems to finally be catching up with the traditional bricks-and-mortar retailers of America.
As evidence, Scott Krisiloff of Avondale Asset Management compiled the following sample of relatively downtrodden commentary from America’s largest retail CEOs, all of who seem to be throwing in the towel on hopes of any near term upside for their industry:
Everything is not awesome, in fact, it’s kind of awful
‘Our industry is the midst of a seismic shift, and, of course, you read the headlines. In fact, many of you write the reports, we’re operating in an incredibly challenging environment. All across the retail industry, many of our competitors are aggressively rationalizing their assets. They are closing stores, exiting markets. They’re cutting costs just to keep their heads above water. We’ve not seen this number of distressed retailers since 2009 in the Great Recession.’ – Target CEO Brian Cornell
Cheap debt created a massive retail real estate bubble that is now bursting right before our eyes

This post was published at Zero Hedge on Mar 10, 2017.


The following video was published by on Mar 10, 2017
Former advisor at the Dallas Fed, Danielle DiMartino Booth is “Fed Up” with the Federal Reserve. She reveals how by keeping interest rates too low for too long, The Fed has transformed the U. S. economy into a drug addict dependent on debt expansion.
But Booth sees a brighter path forward. People are waking up to how the Fed is destroying the economy. And Booth thinks Trump, as an outsider, may be able to bring much needed reform to the Fed.