12 Critical Events That Are Going To Happen Over A 40 Day Period From August 21st To September 30th

We are about to witness an extremely unusual convergence of events that many believe could represent a major turning point for our nation. By now you have probably heard that on August 21st a total solar eclipse will move across the entire continental United States for the first time in decades. In fact, we have not seen a total solar eclipse cross from the west coast to the east coast in 99 years. And it will be the very first total solar eclipse that is only visible in this country since the United States first became a nation. Starting with that event, there is going to be a whole lot going on until we reach the end of September. The following are 12 critical events that are going to happen over a 40 day period from August 21st to September 30th…
August 21 – The ‘Great American Eclipse’ will sweep across portions of Oregon, Idaho, Wyoming, Montana, Nebraska, Iowa, Kansas, Missouri, Illinois, Kentucky, Tennessee, Georgia, North Carolina and South Carolina. Seven years later, another very unusual total solar eclipse will move across our nation, and when you plot the paths of both eclipses on a map, they form a giant ‘X’ right over the center of the United States.
August 23 – A FEMA exercise known as ‘EarthEX2017’ will simulate ‘catastrophes such as mega earthquakes, cyber terrorism or high altitude electromagnetic pulse attacks’…

This post was published at The Economic Collapse Blog on August 9th, 2017.

U.S. Dollar Is Starting To Bounce, But It Still Has Some Work To Do

The U. S. Dollar (DXY Index) hit a low of 92.55 last week and has since moved up just about 1% off of that low. While not a huge gain from a percentage point of view, given the U. S. Dollar’s fairly deep fall since the January highs this is a relatively significant move up off of the lows. Furthermore, the structure up off of this 92.55 low is suggestive that the U. S. Dollar should still move higher in the near term.
There are still several price resistance levels that the DXY needs to break to signal that this move is something other than just a short term corrective bounce. Given where we are in the pattern we may not have an answer to this question for several months to come. The structure of the move up off of the lows and the overhead resistance levels should help give further guidance in this regard.
Last week I discussed the composition of the DXY Index. In particular, how heavily weighted it was towards the European currency pairs. The EUR/USD currency pair has a very overweight position in the DXY Index making up 58% of the index itself. This makes it difficult for the DXY index to move without an inverse move of the EUR/USD currency. So with the EUR/USD making up such a large portion of the DXY index, it is often helpful to keep a close eye on the pattern of that individual pair as well as the DXY itself.
Unfortunately, the pattern on the EUR/USD is not as supportive of the same strength that the DXY itself is displaying. So, while the pattern of the DXY suggests higher levels prior to making a local top, the pattern on the EUR/USD is more supportive that this move up on the DXY may be a bit more short-lived and still has some more work to do to the downside prior to making a more significant bottom.

This post was published at GoldSeek on 9 August 2017.

Former CBO Director: The Fall Will Be “Very Scary”, Expect A Market Crash

Rudy Penner, the former director of the Congressional Budget Office and the person described by MarketNews international as “one of Washington’s most respected fiscal policy experts”, told MNI Wednesday in an exclusive interview that he expects a “very scary” fall 2017 due to fiscal issues, with market-disrupting battles ahead on both the debt ceiling and fiscal year 2018 spending. Penner directed the CBO under president Reagan, worked at high level posts in the White House budget office, and the Council of Economic Advisers. He is currently a fellow at the Urban Institute and sits on the board of the Committee for a Responsible Federal Budget.
“There are so many politically hard issues and so little consensus on budget and tax policy. I assume we’ll somehow get through this, but not without getting frightened on a regular basis,” Penner said.
“Probably the best we can hope for is muddling through the (FY 2018) budget and the debt limit and getting very limited health, tax, and infrastructure legislation. There is not going to be significant stimulus coming out of Washington in the foreseeable future,” he said, echoing what many other pundits have said before. Penner said a “bipartisan negotiation is badly needed” to forge even a limited FY 2018 spending agreement. But he’s not certain this will occ

This post was published at Zero Hedge on Aug 9, 2017.

BROKE CHICAGO PUBLIC SCHOOL SYSTEM LAYS OFF 356 TEACHERS

Officials with the perpetually insolvent Chicago Public School system laid off 356 teachers and nearly 600 school support staffers this week.
The teachers and other employees received their pink slips from the taxpayer-funded school district on Monday, reports the Chicago Sun-Times.
Chicago’s elementary schools will have 240 fewer teachers this fall. Second City high schools will have 116 fewer teachers.
In addition to the 356 teachers, Chicago Public School officials also sacked 362 classroom aides and 221 employees who were security guards and special education aides.
Chicago Teachers Union spokeswoman Stacy Davis Gates blamed an ongoing budget battle between Chicago Mayor Rahm Emanuel and Illinois Gov. Bruce Rauner in particular for the layoffs.

This post was published at The Daily Sheeple on AUGUST 9, 2017.

Mattis Warns North Korea: You’ll Lose, Your People Will Be Destroyed

With anxiety briefly ticking down on The New York Times story about Trump’s “fire and fury” comments being off-the-cuff – as opposed to policy – The Pentagon just turned the dial back on the threats.
Defense Secretary James Mattis warned North Korea in stark terms on Wednesday that it faces devastation if it does not end its pursuit of nuclear weapons: “The DPRK must choose to stop isolating itself and stand down its pursuit of nuclear weapons,” Mattis said in a statement adding “The DPRK should cease any consideration of actions that would lead to the end of its regime and the destruction of its people.”
Mattis’s comments echo Trump’s bellicose outburst on Tuesday in which he warned North Korea of “fire and fury” if it takes aggressive steps toward the United States.
Some have suggested that Mattis’ remarks could be part of a coordinated effort with the White House to send a tough signal to both North Korea and China. As a reminder, North Korea’s initial response was to call Trump’s cluff, warning later on Tuesday it could launch an attack on Guam.

This post was published at Zero Hedge on Aug 9, 2017.

You’ve Heard of Bear’s Funds, Why Not BNP’s?

When Bear Stearns nearly failed, made to merge, in March 2008 it wasn’t really a surprise. Yes, markets were shocked by the demise of the ancient firm, one of the bulge bracket cartel which suggested surprise over the severity of it more than that things were going bad. For more than a year, starting in early 2007, Bear had been steadily in the news for a few of its hedge funds.
These were investment vehicles not owned but sponsored by Bear Stearns, which meant they had no legal obligation to stand behind them. Yet, they did, sensing that to leave them hung out to dry and their investors holding the bag would be more than bad for business. Subprime was contained according to Ben Bernanke, but for these two ‘high grade’ funds people started to realize that wasn’t true.
It wasn’t Bear’s products that ultimately started the crisis, however. Perhaps I am being too semantically rigid, as I classify those hedge funds as a warning of what was coming. Instead, it was a French bank that was to American ears as foreign as possible which truly triggered the end.
Reuters filed a single report at 2:44am ET on August 9, 2007, detailing the relatively non-specific plans of BNP Paribas to halt NAV calculations for three of its funds. The world hasn’t been the same since.

This post was published at Wall Street Examiner on August 9, 2017.

WTF Headline Of The Day: Fed “Reluctant” To Manipulate Stocks, Bullard Says

Speaking on Bloomberg Radio to Kathleen Hays this morning, outspoken St. Louis Fed chair James Bullard dropped two somewhat shocking reality-check tape-bombs… that we are sure will quickly be rescinded and translated for the hard-of-understanding…
First, Bullard was aksed about concerns over a US economic recession. He began with the ‘standard’ response of any establishment type:
“I don’t see any recession on the horizon.”
But then, something got hold of him and he uttered the following omnipotence-threatening phrase…

This post was published at Zero Hedge on Aug 9, 2017.

Stocks and Precious Metals Charts – Still On the Line

“What is hell? I maintain that it is the suffering of being unable to love.’
Fyodor Dostoevsky
‘There are only two kinds of people in the end – those who say to God, ‘Thy will be done,’ and those to whom God says, in the end, ‘Thy will be done.’ All that are in Hell, choose it.’
C. S. Lewis
Or as I have heard elsewhere, the door to hell is locked – from the inside.
Here are the updated charts as of about 10:30 EDT this morning.
Stocks were jumpy and the precious metals caught a bid off the war of words last night between the US and N. Korea.
The queen at home is at home in a visiting hospice program.

This post was published at Jesses Crossroads Cafe on 9 AUGUST 2017.

Zacks: “Market Rises After War Begins; It’s A Patriotic Duty By Investors”

Buy The Fucking Fire And Fury (BTFFF)
That’s how one can summarize the latest report sent out overnight by Zacks EVP and editor of the “Zacks Elite” newsletter, Steve Reitmeister whose only intention was to prevent Goldman clients from selling following the escalating war of words between Trump and Kim, and instead to boost client confidence that even though (nuclear) war may ultimately break out, it’s actually good for stocks, to wit: “The reality is that the stock market likes war and typically rises after fighting commences. Some call it a patriotic response by investors.”
That said, even this attempt to spin potential armageddon into a bullish event had to cross some moral hurdles and as a result, Reitmeister hedged, saying “to be clear, I don’t like rooting for war as a catalyst for the stock market’…. even though that’s precisely what he did, adding “there are plenty of other reasons to be bullish.” He then explains that his only purpose was for “you to have the correct view of this situation. And that is to realize these issues with North Korea should not cause any continued downside to the market.”

This post was published at Zero Hedge on Aug 9, 2017.

T.Rowe Price Issues A Warning For Investors, Cuts Stock Allocation To Lowest Since 2000

One day after DoubleLine chief Jeff Gundlach told Bloomberg TV that it is time for investors to head for the exits as his highest conviction trade is “volatility is about to go up”, and that he is reducing his positions in junk bonds, EM debt and other lower-quality investments on fears investor sentiment may roll over (explaining later to CNBC that he expects to make no less than 400% on his S&P puts) today two other money-managing titans – T. Rowe Price and Pimco – both issued similar warnings to investors, urging investors to start taking profits.
In its latest Midyear asset allocation report “Preparing for Pivot Points”, bond giant Pimco said Investors should pare stocks and high-yield debt while shifting to lower-risk assets, such as Treasuries and mortgage-backed securities. Some selected excerpts:
“After reviewing the landscape, we conclude that the lack of near-term positive catalysts combined with current valuations does not offer sufficient margin of safety to support a risk-on posture.”

This post was published at Zero Hedge on Aug 9, 2017.

Stocks Catch A Bid On Report Trump’s Threat Was Improvised

The S&P has caught a bid, and is now down just 0.1%, with the Nasdaq similarly wiping out most early losses, following a report that contrary to previous speculation that Trump’s bombastic “fire and fury” statement was a coordinated and pre-agreed upon indication of intent from the entire White House, it was in fact improvised. As the NYT writes, “President Trump delivered his ‘fire and fury’ threat to North Korea on Tuesday with arms folded, jaw set and eyes flitting on what appeared to be a single page of talking points set before him on the conference table at his New Jersey golf resort. The piece of paper, as it turned out, was a fact sheet on the opioid crisis he had come to talk about, and his ominous warning to Pyongyang was entirely improvised.”
The NYT also adds that “in discussions with advisers beforehand, he had not run the specific language by them”, which has prompted a modest relief rally as it now appears that Trump’s widely reported statement was just another ad hoc outburst – in line with his daily Twitter rants – and one which will likely be moderated in future appearances after feedback from Trump’s advisors.
To be sure, in the hours since, the president’s advisers have already sought to calm the situation, with Rex Tillerson assuring Americans that they ‘should sleep at night’ without worrying about an imminent war, as we reported earlier.

This post was published at Zero Hedge on Aug 9, 2017.

Central Bank Caught In A Lie, Everything Is Not What It Seems – Episode 1353a

The following video was published by X22Report on Aug 9, 2017
The European banks are dumping government debt, do they know something we don’t. 2016 was revised down to the worst year of productivity. US companies have more debt, more leverage and more richly valued than ever before. Central bank in England covered up the bond problem and how the central bank was buying the bonds that know one wanted, basically they lied. Another indicator shows we are already in a recession. Now two financial pundits report that bonds are going to be a problem and most likely bring down the entire system. Central banks are still buying stocks.

Ugly, Tailing 10Y Auction: Bid To Cover, Indirects Lowest Since 2016

Unlike yesterday’s unexpectedly strong 3Y auction, which stopped through with impressive metrics despite the “hawkish” JOLTS report which showed a record number of job openings, moments ago the Treasury sold $23 billion in 10Y paper in a surprisingly poor refunding auction, which stopped with a large tail and with the smallest bid/cover since last November’s Refunding. The buyside takedown figures were also light, particularly the Indirect takedown.

This post was published at Zero Hedge on Aug 9, 2017.

EU Proposal Would Allow Banks to Suspend Cash Withdraws

An EU proposal underscores just how much control governments have over your money.
According to a document reviewed by Reuters, EU member states are considering a proposal that would allow them to temporarily stop people from withdrawing their own money from their accounts. The policy is intended to help prevent bank runs.

The move is aimed at helping rescue lenders that are deemed failing or likely to fail, but critics say it could hit confidence and might even hasten withdrawals at the first rumors of a bank being in trouble. The proposal, which has been in the works since the beginning of this year, comes less than two months after a run on deposits at Banco Popular contributed to the collapse of the Spanish lender.’
Under the plan, banks would be able to suspend payouts for five business days. They could extend the suspension up to 20 days ‘in exceptional circumstances.’
The EU working paper said giving supervisors the power to temporarily block withdraws was ‘a feasible option.’ Some countries in the EU, including Germany, already allow a moratorium on bank payouts. These countries support the move to make it an EU-wide policy.

This post was published at Schiffgold on AUGUST 9, 2017.

Stock Market News Today: Stocks Fall as Trump Threatens North Korea with ‘Fire and Fury’

The Dow Jones news today features stocks dropping after U. S. President Donald Trump threatened North Korea with ‘fire and fury’ if they continue to threaten the United States. Dow Jones futures are down 32 points as North Korea immediately responded by threatening U. S. military bases in Guam. Experts are concerned about Trump’s impact on U. S. credibility, while markets are growing more concerned about a full-blown nuclear crisis on the Korean Peninsula.
Here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:

This post was published at Wall Street Examiner on August 9, 2017.