Amazon Soars Above $1,000 After Smashing Expectations

Amazon has done it again, and following a lukewarm second quarter and with Goldman warning not to get too excited going into earnings, Amazon is back to its short-crushing ways, reporting both revenues and EPS which blew away expectations. In Q3, Amazon reported EPS of 52 cents, unchanged from a year ago (due to fudging the company’s tax rate) and beating consensus estimates of 4 cents, on net sales of $43.7 billion, also well above the $42.19 billion consensus estimate, entirely due to the contribution of AWS. It was also above the high end of the company’s own range, which topped out at $41.75 but did not include Whole Foods, which deal closed on August 28. That said, AMZN EPS expectations as recently as July were $1.09.

This post was published at Zero Hedge on Oct 26, 2017.

Majority Of White Americans Say They Face Discrimination

A new NPR poll finds that a majority of white Americans believe they face discrimination in America today… “If you apply for a job, they seem to give the blacks the first crack at it,” said 68-year-old Tim Hershman of Akron, Ohio, “and, basically, you know, if you want any help from the government, if you’re white, you don’t get it. If you’re black, you get it.” As NPR reports, more than half of whites – 55 percent – surveyed say that, generally speaking, they believe there is discrimination against white people in America today.
Hershman’s view is similar to what was heard on the campaign trail at Trump rally after Trump rally. Donald Trump catered to white grievance during the 2016 presidential campaign and has done so as president as well.

This post was published at Zero Hedge on Oct 26, 2017.

Shares Of World’s Biggest Toymaker Crater After It Suspends Dividend

hares of Mattel, the world’s biggest toymaker, cratered as much as 24% after hours after the company announced it would suspend its quarterly dividend starting in Q4, and instead use the cash to shore up its faltering business after a big hit following the bankruptcy of its largest retailer Toys’R’Us. A quarter of Mattel’s market cap was wiped out after earnings, which were disappointing even without the dividend news. The suspension of its quarterly dividend of 15 cents a share is expected to save Mattel a modest $50 million per quarter.

This post was published at Zero Hedge on Oct 26, 2017.

Bitcoin Gold Prices Plummet 72% in Just Three Days

The hard fork that created Bitcoin Gold hasn’t worked out for speculative investors thus far. On Oct. 23, Bitcoin Gold opened at $479.82, but has fallen today (Thursday) to $130.34.
Bitcoin, in comparison, climbed 7% today and is pushing near its all-time high of $6,000.
The price of Bitcoin increased by about $550 in the last 24 hours as markets shake off concerns about the Bitcoin Gold hard fork.
There have also been a few rumors that Amazon.com Inc. (Nasdaq: AMZN) could announce plans to accept Bitcoin on its platform during its Thursday earnings call. However, those rumors are based on pure investor speculation.
Also in cryptocurrency news, markets were largely unfazed by statements made by the governor of the United Arab Emirates (UAE) central bank.
Mubarak Rashed Al Mansouri has raised concerns about the lack of supervision around the cryptocurrency industry and suggested that Bitcoin is being used for illicit activity.
‘Some nations have announced that they are not using Bitcoin, and consequently, its value sharply plummeted. In addition, it can be easily used in money laundering and in funding terror activities,’ the central banker said.
Below is a recap of the top cryptocurrency prices at 11:00 a.m. EDT

This post was published at Wall Street Examiner on October 26, 2017.

Paul Ryan Says FBI Will Turn Over Long-Sought ‘Trump Dossier’ Documents

Shortly after House Speaker Paul Ryan finished extolling his triumph over a group of 20 intransigent blue-state Republicans who opposed a budget bill passed by the House on Thursday, the Republican leader dropped a surprising revelation about the House Intelligence Committee’s push to subpoena the FBI for records pertaining to the infamous ‘Trump dossier.’
As the public’s perception of the dossier’s credibility has deteriorated further following this week’s revelation that it was financed by the Clinton campaign and Democratic National Committee, the FBI is finally acquiescing to the House Intel committee’s monthslong campaign to obtain the records. The agency said it will provide the documents to Nunes & Co. by next week, Ryan said.
After Ryan accused the agency of ‘stonewalling’ and ‘foot-dragging’ during an interview published on Wednesday, the FBI contacted his office and promised the requested materials would be readily provided, Politico noted.

This post was published at Zero Hedge on Oct 26, 2017.

NAFTA Effect: Global Manufacturers Bet on Dirt-Cheap Mexico

That wages have remained so low for so long is not by accident; it’s by design.
President Trump’s repeated bashing of the North American Free Trade Agreement between the US, Canada, and Mexico has failed to dull the allure of Mexico’s maquiladoras for global manufacturers looking to cash in on the country’s much cheaper labor costs. Tecma Group, a firm that helps US and Canadian firms relocate to Mexico, has more business than ever. In the past few weeks alone, it has helped a cleaning equipment company and packaging company move.
Mexico Consulting Associates, headquartered in Chicago, has three new clients interested in Mexico. Keith Patridge, who heads McAllen Economic Development, estimates that at least 12 companies will be installed this year in the north-western city of Reynosa. Another firm, Tacna Services, has helped two companies get set up in the Baja California area.
The southward migration of U. S. companies continues unchecked even as Trump threatens to abandon NAFTA, provoking fear and consternation among manufacturers that have production and supply chains spread across the three countries. If Trump followed through on his threat, traded goods would be subject to tariffs of around 3.5% in the case of Mexican companies and 7% in the case of US ones, according to Benito Barber, an economist for Latin America for Nomura Holdings.
On Tuesday a new coalition of major automakers, suppliers, and car dealers urged Trump not to withdraw from NAFTA. The members of the ‘Driving American Jobs’ coalition include trade associations that represent major global car manufacturers such as General Motors, Toyota Motor, Volkswagen, Hyundai Motor, and Ford Motor.

This post was published at Wolf Street on Oct 26, 2017.

OCT 26/GOLD AND SILVER DOWN ON COMEX OPTIONS EXPIRY/ECB EXTENDS QE BY PURCHASING 30 BILLION EUROS WORTH OF BONDS PER MONTH UNTIL SEPT 2018 AND THIS DOVISH RESPONSE IS BAD FOR GOLD?/SEE-SAW EVENTS…

GOLD: $1269.00 down $8.80
Silver: $16.80 DOWN 15 cents
Closing access prices:
Gold $1267.90
silver: $16.80
SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: $1291.03 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1280.50
PREMIUM FIRST FIX: $10.53(premiums getting larger)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
SECOND SHANGHAI GOLD FIX: $1291.03
NY GOLD PRICE AT THE EXACT SAME TIME: $1281.00
Premium of Shanghai 2nd fix/NY:$10.03 PREMIUMS GETTING LARGER)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
LONDON FIRST GOLD FIX: 5:30 am est $1278.20
NY PRICING AT THE EXACT SAME TIME: $1277.75
LONDON SECOND GOLD FIX 10 AM: $1273.75
NY PRICING AT THE EXACT SAME TIME. 1274.70 ??
For comex gold:
OCTOBER/
NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 85 NOTICE(S) FOR 8500 OZ.
TOTAL NOTICES SO FAR: 3173 FOR 317,300 OZ (9.869TONNES)
For silver:
OCTOBER
28 NOTICES FILED TODAY FOR
140,000 OZ/
Total number of notices filed so far this month: 1057 for 5,285,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: $5834 bid /$58544 offer UP $155.00 (MORNING)
BITCOIN CLOSING;$5833 BID:5853. OFFER up $155.00

This post was published at Harvey Organ Blog on October 26, 2017.

How The Elite Dominate The World – Part 4: They Buy Politicians, And Incumbents Almost Always Win

Once we wake up to how the game is being played, then we will have a real shot at changing things. For decades, the elite have been pulling the strings behind the scenes in both major political parties. That is why nothing has ever seemed to change very much no matter which party has been in power. The agenda of the elite has always seemed to march forward, and ordinary people like us have always been frustrated that we can’t seem to make a difference. But now a shift seems to be taking place. Donald Trump took on the establishment in both major parties, and he miraculously won the presidency. Down in Alabama, the elite spent more than 30 million dollars to defeat Roy Moore, and he still defeated Luther Strange. A political awakening is taking place, and I can’t wait to see what happens during the mid-term elections in 2018.
In Part I and Part II of this series, I talked about how the elite use debt as a tool of enslavement. In Part III, I went over how the elite use the colossal media corporations they own to control what we think. Today, I want to talk about their influence in the realm of politics.
In Washington D. C., it is well understood that the game of politics is all about the money. If I win my election, and online polling suggests that there is a ton of enthusiasm for my campaign, I will be expected to spend most of my time on the phone raising money. As a freshman member of Congress, at orientation it will be explained to me that I am supposed to spend approximately four hours a day doing fundraising, and that is why the House and Senate floors are so empty most of the time.
By law, members of Congress cannot make fundraising calls from their offices, and so both parties have huge call centers just across from the Capitol. Especially around lunch and dinner times (because those are some of the best times to reach people), those call centers are packed as members of the House and Senate run through lists of potential donors.

This post was published at The Economic Collapse Blog on October 26th, 2017.

CVS In Talks To Buy Aetna In What Would Be Year’s Largest Deal

In a stunning scoop published minutes before the close, WSJ reports CVS Health is in talks to buy Aetna, a defensive acquisition that may help the company fend off Amazon should the e-commerce giant follow through on flirtations with the pharmacy business. Shortly before WSJ published its report, CVS and other pharmacy stocks tumbled to their lows of the day on reports Amazon has been quietly obtaining wholesale pharmacy licenses.
Earlier this week, Aetna said it would sell its group life and disability business to The Hartford Group for $1.45 billion in cash. Aetna recently moved its headquarters from Hartford, Conn., where the company was founded more than 150 years ago, to New York City. CVS reportedly offered to pay more than $200 a share vs. Aetna’s market price of $178.60. Aetna has a $60 billion market capitalization. Aetna shares soared more than 10% on the news, while CVS shares pared their earlier drop, but moved lower again into the close. Managed-care stocks also jumped on the news.

This post was published at Zero Hedge on Oct 26, 2017.

The Bond Market Calls Draghi’s Bluff. What’s Next?

ECB President Mario Draghi is now walking back QE.
This is not a surprise to our readers. I’ve been forecasting this exact development, (as well as the Euro’s spike to 120) since August 2016 (by the way, the Euro was at 109 back then and everyone thought it would soon reach parity with the $USD as it collapsed). Still, why is Draghi doing this?
Because the bond market was in revolt, with yields beginning to rise. Rising yields= falling bond prices. Falling bond prices over time= bear market in bonds. Bear market in bonds = SYSTEMIC reset.
We explain all of this in our bestselling book The Everything Bubble: The End Game For Central Bank Policy. If you’ve yet to pick up a copy, grab one now. You’ll immediately know more about how the financial system works (as well as what’s to come) than anyone else in your social circle.
The bottomline is as follows…

This post was published at GoldSeek on 26 October 2017.

Is This China’s Minsky Moment?

Sometimes you have to love the naivety of the markets. At this week’s Communist Party Congress meeting in Beijing, the governor of the PBoC (People’s Bank of China) said the following;
‘If we are too optimistic when things go smoothly, tensions build up, which could lead to a sharp correction, what we call a ‘Minsky moment’. That’s what we should particularly defend against.’ Yet instead of focusing on this dire warning, markets are busy trying to discount the chance of a Powell Fed or a Republican tax cut.

This post was published at Zero Hedge on Oct 26, 2017.

Stocks and Precious Metals Charts – After the Bell – A Cross of Iron

“Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children. The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities. It is two electric power plants, each serving a town of 60,000 population. It is two fine, fully equipped hospitals. It is some fifty miles of concrete pavement. We pay for a single fighter with a half-million bushels of wheat. We pay for a single destroyer with new homes that could have housed more than 8,000 people…
This is not a way of life at all, in any true sense. Under the cloud of threatening war, it is humanity hanging from a cross of iron.”
Dwight D. Eisenhower, 16 April 1953
The big tickle today was the strength in the Dollar index based on Euro weakness, thanks to Monsieur Draghi.
There was a minor option expiration for gold on the Comex today. I do not think that drove the action in the metals, compared to the big spike in the Dollar.
After the bell we will be seeing some big earnings announcements including Amazon, Alphabet, Microsoft and Intel.
CVS Health is in talks to buy Aetna. More consolidation in the health/insurance sector, under the title of ‘vertical integration’ which is a finer sounding title for ‘monopolization.’

This post was published at Jesses Crossroads Cafe on 26 OCTOBER 2017.

CME Group CEO On Low Volatility: “Traders Are Too Afraid To Buy…And Too Afraid To Sell”

With realized volatility having fallen to near-record lows this month, CME Group Chairman and CEO Terry Duffy tapped into the trepidation that many traders feel about today’s unsettlingly placid markets during an interview with CNBC Thursday, saying that he’s ‘surprised’ at the present lack of volatility, adding that many market participants are essentially too afraid to trade.
Ultimately, the torrid pace of this year’s advance in global stocks, which has sent US shares sailing through record high after record high, has made traders too fearful to sell for fear of missing out on further gains – but they’re also too afraid to buy because of the precarious situation with North Korea, and uncertainty surrounding the path of domestic fiscal and economic policy.
To be sure, subdued volatility isn’t happening in isolation. Low rates and low commodity prices (among a host of other factors) have helped propell shares higher. But right now, markets are essentially in a ‘wait and see mode.’

This post was published at Zero Hedge on Oct 26, 2017.

Ray Dalio Warns Of “Significant” Bond Market Risk

Casting his vote in the ongoing debate of which is a bigger bubble, bonds or stocks, Bridgewater’s billionaire founder Ray Dalio, who has continued his whirlwind of media appearances in recent years, said that he sees a “significant amount of risk in the bond market” envisioning a growing risk to stability as the U. S. moves toward a bigger deficit and the Federal Reserve unwinds its balance sheet. He is, of course, referring to this projection by the CBO of the US debt over the next 30 years which, sadly, remains quite unsustainable especially in a rising rate environment and in which central banks no longer monetize deficits (which is precisely why the Fed will promptly resume QE after a brief cool off period).

This post was published at Zero Hedge on Oct 26, 2017.

Stocks and Precious Metals Charts – After the Bell

The big tickle today was the strength in the Dollar index based on Euro weakness, thanks to Monsieur Draghi.
There was a minor option expiration for gold on the Comex today. I do not think that drove the action in the metals, compared to the big spike in the Dollar.
After the bell we will be seeing some big earnings announcements including Amazon, Alphabet, Microsoft and Intel.

This post was published at Jesses Crossroads Cafe on 26 OCTOBER 2017.

Lies And Distractions Surrounding The Diminishing Petrodollar

There are a few important rules you have to follow if you want to join the consortium of mainstream economic con-men/analysts. Take special note if you plan on becoming one of these very “special” people:
1) Never discuss the reality that government fiscal statistics are not the true picture of the health of the economy. Just present the stats at face value to the public and quickly move on.
2) Almost always focus on false positives. Give the masses a delusional sense of recovery by pointing desperately at the few indicators that paint a rosier picture. Always mention a higher stock market as a symbol of an improving economy even though the stock market is irrelevant to the fundamentals of the economy. In fact, pretend the stock market is the ONLY thing that matters. Period.
3) Never talk about falling demand. Avoid mention of this at all costs. Instead, bring up “rising supply” and pretend as if demand is not a factor even worth considering.

This post was published at Alt-Market on Thursday, 26 October 2017.

Asian Metals Market Update: October-26-2017

Traders will start taking positions for next week’s FOMC meet. Everything is factored in traders before the FOMC on interest rate trend and US economic growth. US housing numbers failed to add gains to the US dollar. This makes me believe that short sellers need to be careful in gold and silver. Gold and silver investment demand is seen from Europe. Asian gold investment demand is more or less zilch at the moment. Asians are looking for a price reversal for investment. Technically short term gold and silver are in a neutral zone. I will prefer to call it as a cyclical trend.
Interest rates are not expected to rise in next week’s FOMC meet. Only there will be a reconfirmation of a December interest rate hike. All is well with the US economy as well as the global economy. There are signs of a small crash in global stock markets anytime. This is not happening. The longer it takes for global stock markets to see a short term correction, the longer will be the next big correction. I know all central banks and politicians do not like a correction in stock markets. All the central banks policies are stock market friendly instead of being employment friendly. But central needs to let the stock market correct on its own so that a bubble does not form. The current global circumstances envisages a continued bull run in global stock markets for the next six months to next nine months. The whole worlds stock markets cannot continue to rise endlessly for a long period of time. A few stock markets will burst. Once that starts, gold and bitcoin will zoom. For the first time I have added bitcoin as a safe haven. Bitcoins and crypto currencies will get safe haven status as time progresses.

This post was published at GoldSeek on 26 October 2017.

Are Petrocurrencies Heading For Extinction?

Petrocurrencies are breaking away from their traditional tight link to oil prices, but all it would take for this link to return is for prices to fall bellow their current range. This seems to be the general consensus among bankers interviewed by Bloomberg’s Natasha Doff and Anna Andrianova.
***
The change is especially obvious with the Russian ruble, the Norwegian crown, and the Canadian dollar. The ruble’s response to the recent string of gains in oil prices was muted; the Norwegian crown barely batted an eyelash at latest price changes; and the Canadian dollar has weakened despite the oil price movements.

This post was published at Zero Hedge on Oct 26, 2017.