• Category Archives Religion
  • Russia’s Alleged Meddling In Catalan Vote: Playing The Blame Game

    Marine Corps veteran Tommy Waller, director of special projects at the Center for Security Policy, has warned President Trump about the EMP threat facing the United States.
    “Winston Churchill once said, ‘History will be kind to me for I intend to write it’…
    The surest way for history to be kind to President Trump is for him to write it, by being the first leader to truly address the existential threat of EMP.
    The first and foremost thing he must write is an Executive Order establishing his own EMP Commission in the White House – a task force that draws from the experience of the previous EMP Commission.”
    The grim warning is directed at North Korea and their ambitions to unleash a devastating atmospheric nuclear explosion above the United States that would collapse the nation’s power grid.

    This post was published at Zero Hedge on Nov 15, 2017.


  • The White House Is Being Warned: North Korea Is Planning A “Devatstaing EMP Attack” On America

    Marine Corps veteran Tommy Waller, director of special projects at the Center for Security Policy, has warned President Trump about the EMP threat facing the United States.
    “Winston Churchill once said, ‘History will be kind to me for I intend to write it’…
    The surest way for history to be kind to President Trump is for him to write it, by being the first leader to truly address the existential threat of EMP.
    The first and foremost thing he must write is an Executive Order establishing his own EMP Commission in the White House – a task force that draws from the experience of the previous EMP Commission.”
    The grim warning is directed at North Korea and their ambitions to unleash a devastating atmospheric nuclear explosion above the United States that would collapse the nation’s power grid.

    This post was published at Zero Hedge on Nov 15, 2017.


  • How Facebook & Google Threaten Public Health… And Democracy

    Authored by Roger McNamee, op-ed via The Guardian,
    The sad truth is that Facebook and Google have behaved irresponsibly in the pursuit of massive profits. And this has come at a cost to our health…
    In an interview this week with Axios, Facebook’s original president, Sean Parker, admitted that the company intentionally sought to addict users and expressed regret at the damage being inflicted on children.
    This admission, by one of the architects of Facebook, comes on the heels of last week’s hearings by Congressional committees about Russian interference in the 2016 election, where the general counsels of Facebook, Alphabet (parent of Google and YouTube), and Twitter attempted to deflect responsibility for manipulation of their platforms.
    The term ‘addiction’ is no exaggeration. The average consumer checks his or her smartphone 150 times a day, making more than 2,000 swipes and touches. The applications they use most frequently are owned by Facebook and Alphabet, and the usage of those products is still increasing.
    In terms of scale, Facebook and YouTube are similar to Christianity and Islam respectively. More than 2 billion people use Facebook every month, 1.3 billion check in every day. More than 1.5 billion people use YouTube. Other services owned by these companies also have user populations of 1 billion or more.
    Facebook and Alphabet are huge because users are willing to trade privacy and openness for ‘convenient and free.’

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


  • Mass Shootings, Mass Psychology And Self-Defense

    There is an unfortunate correlation between crises and catastrophes and mass psychology. For those with a decent long-term memory, you may have noticed that the frequency of attacks and tragedies taking place today around the world is far above and beyond what occurred 10 years ago. So much so that many in the public have moved beyond the point of outrage and have now embraced complacency.
    The mass shooting issue, for example, once inspired fevered debate over gun rights. Not so much anymore. While I am happy that the relentless attempts by leftists to exploit every shooting as a tool for their gun grabbing agenda have taken a backseat, I see a trend in another direction which is equally dangerous. That trend is a move towards acceptance that “these things happen,” instead of a healthy discussion on real solutions (and no, more gun control is not one of them).
    A decade ago the Vegas shooting would have inspired media and social discussion for at least a year. Now, the story disappears in two weeks and is replaced with 10 others. I will be surprised if the latest church shooting in Texas in which 26 people were killed stays on the news feeds for more than a few days.

    This post was published at Alt-Market on Thursday, 09 November 2017.


  • How Will Bitcoin React in a Financial Crisis Like 2008?

    If the ownership of bitcoin is as concentrated as some estimate, then the liquidity issue distills down to the actions of the top tier of owners.
    ***
    Whenever I raise the topic of bitcoin and cryptocurrencies, I feel like an agnostic in the 30 Years War between Catholics and Protestants. There is precious little neutral ground in the crypto-is-a-bubble battle; one side is absolutely confident that bitcoin and the other cryptocurrencies are in a tulip-bulb type bubble, while the other camp is equally confident that we ain’t seen nuthin’ yet in terms of bitcoin’s future valuation. I’ve stated here more than once that in my view the real value of bitcoin will only be revealed in a financial/market crisis/crash like 2008-09. Longtime correspondent Mark G. recently proposed three tests that illuminate some of the dynamics that might come into play in the next financial/market crash/crisis. (CHS NOTE: gold fell from a peak around $1,100 per ounce in March 2008 to $830 in October 2008. It then bounced back to $1,100 in February 2008. The standard explanation for the sharp decline was that gold was sold off to meet margin calls and other obligations arising from the Global Financial Meltdown of late 2008. That gold was perceived as a reliable store of value may have increased its attractiveness as an asset to sell in the mad scramble to raise cash.)

    This post was published at Charles Hugh Smith on MONDAY, NOVEMBER 06, 2017.


  • Technical Scoop – Weekend Update Nov 5

    Weekly Update
    To the moon, Alice!
    Ralph Kramden, The Honeymooners
    And at the current rate it might not be too long before it’s actually there. The moon, that is. No, not Alice – Bitcoin. Yes, Bitcoin crossed $7,000 this week. It was less than a month ago Bitcoin passed $5,000. The riches are dazzling as Bitcoin is up 640% this year alone. Bitcoin now has a market cap of $100 billion. How much longer before it’s bigger than Amazon or Apple or worth more than the entire gold stock market? But the question continues to beg – is Bitcoin an historic bubble? Until it bursts, the question is strictly academic. And don’t forget, not only is there Bitcoin but there are now over 1,000 other cryptocurrencies. And Bitcoin has forks as well called Bitcoin cash and Bitcoin gold.
    Okay, we are not going to get into a huge discussion of Bitcoin and how it is structured and what blockchains are all about. It is mind boggling enough trying to figure all of that out. We will have further comments on our weekly ‘Bitcoin Watch!’ commentary.
    The stock markets made new all-time highs again this past week. That comes against the backdrop of the terrorist attack in New York City, indictments in the Russia investigation including former top aides of President Donald Trump, and possible brewing trouble in the Mid-East. There is also the escalating crisis in Catalonia in the heart of the EU, ongoing trouble between Kurds and Iraq/Iran/Turkey, and continued moves afoot to lessen the use of the US$ in world trade. As well, a new Fed chairman has been proposed. But all the stock market cares about is the potential to pass the tax bill that could put billions into corporations and the 1% even as it could create deficits estimated at up $1.5 trillion over the next decade.
    Maybe the stock markets are also headed for the moon, albeit at a much slower pace. Still, the records just keep on falling and there seems to be little in the way of stopping it. We may wring our hands over the alleged terrorist attack that killed 8 and injured many more but largely ignore an attack in a Walmart in Colorado that left 3 dead that occurred not long after the NYC attack. And I might add as we prepare this for distribution another attack in some small Texas town in a church that has left multiple fatalities.

    This post was published at GoldSeek on 5 November 2017.


  • Doug Noland: End of an Era

    Of the diverse strains of inflation, asset inflation is by far the most dangerous. A bout of consumer price inflation would be generally recognized as problematic and rectified through a tightening of monetary conditions. On the other hand, asset price inflation is both celebrated and venerated. There is simply no constituency calling for a tightening of conditions to ward off the deleterious effects of rising asset prices, Bubbles and attendant economic maladjustment. And as we’ve witnessed, the bigger the Bubble the more powerful the constituencies that rationalize, justify and promote Bubble excess.
    About one year ago, I was expecting a securities markets sell-off in the event of an unexpected Donald Trump win. A Trump presidency would create disruption, upheaval and major uncertainties – political, geopolitical, economic and social. Instead of a fall, the markets experienced a short squeeze and unwind of hedges. Over-liquefied markets and a powerful inflationary bias throughout global securities markets won the day – and the winning runs unabated. We’ve come a long way since 1992 and James Carville’s ‘I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would like to come back as the bond market. You can intimidate everybody.’ New age central banking has pacified bond markets and eradicated the vigilantes. These days it’s the great equities bull market as all-powerful intimidator.

    This post was published at Wall Street Examiner on November 4, 2017.


  • Texas Church Shooting Leaves 26 Dead; Suspect Was Dishonorably Discharged From Air Force

    Update (8:50 pm ET): Trump offered his condolences for victims and their families after today’s “horrific” shooting during a press conference in Japan.
    “Victims and their families were in their sacred place of worship. We cannot put into words the pain and grief we all feel,” Mr. Trump said in televised remarks.
    “In dark times such as these, Americans do we what do best and we pull together. We lock hands and we joins arms. Through the tears and through the sadness we stand strong.”
    Meanwhile, a new photo of the shooter has been released…


    This post was published at Zero Hedge on Nov 5, 2017.


  • Rewriting History Continues

    A historic Episcopal church in Alexandria, Va., has made the decision to move a pair of plaques that paid tribute to Confederate Gen. Robert E. Lee and President George Washington. Both were former parishioners and the plaques were displayed on either side of the altar at Christ Church in Alexandria.

    This post was published at Armstrong Economics on Nov 5, 2017.


  • Is Europe Repeating the 1930s?

    Europe is now replicating the 1930s and the mistakes it made with austerity back then as well outside of Germany. Of course, Merkel has imposed the German view of austerity based on their experience but has ignored the opposite experience of the rest of Europe that led to the 1931 Sovereign Debt Crisis and mass defaults.
    It was the year of 1925 when then chancellor of the Exchequer, Winston Churchill, returned Britain to the gold standard. Britain was trying desperately to reestablish itself as the financial capital of the world as if nothing had taken place. Returning to the gold standard resulted in wages being forced down to compete with America. John Maynard Keynes at the time pleaded that this was madness. The pound was overvalued against the dollar by 10% trying to reestablish confidence in Britain but the net result crippled exports and unemployment began to rise and workers engaged in strikes for having wages reduced even though the pound was worth more officially.

    This post was published at Armstrong Economics on Oct 24, 2017.


  • Smuggled Gold Pouring into India as Consumers Dodge Taxes

    An increase in the import duty hasn’t dampened Indians’ appetite for gold. It’s just pushed the market underground.
    Gold is such an important part of the Indian economy, people will do whatever they have to in order to get their hands on the yellow metal – including skirt the law. According to a recent report by the Hindu, occurrences of gold smuggling have risen rapidly in the wake of higher import taxes.
    Ever since the import duty on gold was raised to 10%, the country has reportedly witnessed a rapid rise in the quantum of gold brought into the country illegally. Currently, government levies total 13%, including IGST of 3%.’
    Government efforts to crack down on smuggling have proven largely ineffective. Officials estimate customs agents and police have intercepted less than 10% of the gold entering the country illegally. Police do a better job of catching smugglers traveling by air from West Asia and south-east Asia, but officials say gold brought in through the international waters of Sri Lanka and the porous borders of Myanmar, Thailand, Nepal, Bangladesh, and Pakistan is seldom tracked.

    This post was published at Schiffgold on OCTOBER 23, 2017.


  • SWOT Analysis: Gold In Focus After Climbing Above Key Threshold Level

    Strengths
    The best performing precious metal for the week was palladium, up 7.28 percent as money managers raised their net-long positions on continued expectations that the shift from diesel to gasoline powered cars will continue. Gold traders and analysts surveyed by Bloomberg are bullish for the first time in five weeks, reports Bloomberg. Following the release of the Fed minutes which showed rising concern about low inflation, the yellow metal climbed to a two-week high. A fresh flare-up in tensions with North Korea pushed gold higher this week, writes Bloomberg, along with a U. S.-Turkey diplomatic spat regarding visitor visas was supportive. The Indian government withdrew an order that brought the gold industry under anti money-laundering legislation, reports Bloomberg. Jewelers were included in the Prevention of Money-Laundering Act in August that increased compliance requirements. In response to the rule reversal, shares of jewelers climbed in the country. This move comes just as gold buying improves before the Hindu festival of Diwali, the peak season for demand, the article continues. Weaknesses
    The worst performing precious metal for the week surprisingly was gold, up more than 2 percent, despite grabbing most of the precious metals headlines. According to the People’s Bank of China website, gold reserves in China came in at 59.24m fine troy ounces in September, unchanged again from the previous month, which unfortunately is beginning to become a trend. Chinese markets had been closed the prior week to mark National Day.

    This post was published at GoldSeek on Monday, 16 October 2017.


  • The World Turned Upside Down

    Thoughts from the Frontline The World Turned Upside Down BY JOHN MAULDIN
    OCTOBER 14, 2017
    Options Email Print Where Has the Volatility Gone?
    A Bull Market in Complacency
    San Francisco, Denver, Lugano, and Hong Kong
    Strange things did happen here
    No stranger would it be
    If we met at midnight
    In the hanging tree.
    – Lyrics from the theme song of The Hunger Games
    If buttercups buzz’d after the bee,
    If boats were on land, churches on sea,
    If ponies rode men and if grass ate the cows,
    And cats should be chased into holes by the mouse,
    If the mamas sold their babies
    To the gypsies for half a crown;
    If summer were spring and the other way round,
    Then all the world would be upside down.

    This post was published at Mauldin Economics BY JOHN MAULDIN OCTOBER 14, 2017.


  • Reversal of Tax Rule Could Boost Gold Demand in India

    The Indian government has reversed a tax rule that was putting a damper on gold demand in the country.
    The government included Indian jewelers under the Prevention of Money-Laundering Act last August. The rules increased compliance requirements for high dollar jewelry purchases. Buyers had to provide their income tax identity for transactions above 50,000 rupees ($766). According to the Economic Times, the requirements were hindering high-value deals.
    The reversal of the rules comes just before a peak season for gold demand in India. Many Indians buy gold leading up to the Hindu festival of Diwali, which falls on Oct. 19 this year. Shares of jewelers increased by as much as 8% with the announcement.
    The government rescinded the rules on jewelry purchases along with a number of other tax provisions, according to the ET.
    India also slashed tax rates on 27 items, and extended the period for small businesses to file returns, in a bid to reverse the blow to growth stemming from a chaotic roll out of the nationwide sales tax.’

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


  • Eric Peters: “If Everyone Carried An S-400 To Work And Church, The World Would Be A Safer Place”

    Unlike every other weekend, today One River’s Eric Peters has truncated his weekend notes following a knee arthroscopy (“it went fine, thanks for asking”) and to demonstrate the impact of opioids on American productivity, Peters “banged out an overall, some nerdy numbers and an old anecdote. Nothing more.”
    Here is his latest “overall.”
    ‘I went to buy me another goddamn bump stock,’ shrieked the mentally retarded, Prozac-popping American on the Federal no-fly list, terrified it might be his last chance. ‘But the price jumped on me faster than you can say NRA.’
    You see, bump stocks were quickly out of stock. That’s what happens when you threaten to regulate something, anything.

    This post was published at Zero Hedge on Oct 8, 2017.


  • Asian Metals Market Update: October-06-2017

    Chinese demand will be key to precious metals and industrial metals once China reopens tomorrow. Industrial metals except nickel have remained firm in the last week. Gold and silver have fallen in the last week. If the US dollar continues to gain and Chinese demand is not in line with expectations then gold and silver will see another wave of sell off. If not then gold and silver may form a medium-term bottom. Gold jewelry demand in India will be on the higher side today and till Sunday due to Hindu festival of ‘Karwa Chauth’ on Sunday wherein wives fast from dawn till dusk for the long life of their husbands. It is a big gifting festival like Valentine’s day. But if jewelry sales in India disappoint (till Sunday) then I do not see a big recovery in gold demand in India unless prices nosedive.
    US September nonfarm payrolls number needs to be seen from a totality prospective and not just the headline numbers.

    This post was published at GoldSeek on 6 October 2017.


  • Here’s Why Allowing Saudi Women To Drive Is Very Dangerous For The Rest Of The World

    The move risks provoking the already distraught Wahhabi clergy who fear that the monarchy is breaking its old alliance with them by sidelining the Kingdom’s most conservative religious gatekeepers in its quest for socio-economic modernization.
    ***
    Hardcore Wahhabis in Saudi Arabia have warned for generations that allowing women to drive would be a very dangerous development for the ultra-fundamentalist Kingdom, arguing that it would somehow degrade society by leading to an epidemic of immorality which would clash with what they believe is the purest way to practice Islam.
    That’s not why Riyadh’s recent decree granting woman this long-overdue right by next summer is so dangerous, however, as the real reason rests with the unpredictable and possibly violent reaction of the Saudi clergy.

    This post was published at Zero Hedge on Oct 2, 2017.


  • Frontrunning: September 29

    Republican Tax Plan Hits First Hurdle (WSJ) A $6.4 Billion Windfall Awaits Big U. S. Banks in Trump’s Tax Cut (BBG) How Does the Trump Tax Plan Affect You? WSJ Answers Your Questions (WSJ) Twitter suspends Russia-linked accounts, but U. S. senator says response inadequate (Reuters) Flight ban on Iraqi Kurds imposed after independence vote (Reuters) Elon Musk’s New Vision: Anywhere on Earth in Under One Hour (BBG) Kurdistan region refuses to hand over border crossings to Iraqi government: Rudaw (Reuters) Independence Vote Tests Catalonia’s Police Force (WSJ) Uber CEO Khosrowshahi to Visit U. K. to Rescue London License (BBG) Chinese Money Is Still Leaking Into the World’s Housing Markets (BBG) Russia accuses CNN International of violating Russian media law (Reuters) Dems on Trump’s Voter Fraud Panel Push Back (BBG) Schumer says senators close to bipartisan deal on health exchanges (Reuters) VW’s dieselgate bill hits $30 billion after another charge (Reuters) VW Takes New $2.9 Billion Hit From Diesel Scandal (WSJ) Iron Ore Becomes Punch Bag as China Concerns Drive 20% Collapse (BBG) U. S. visas to six Muslim nations drop after Supreme Court backs travel ban (Reuters) P&G CEO Blasts Nelson Peltz as Tensions Mount Over Board Vote (BBG) Lyft IPO puts investors in self-driving cars as well as ride services (Reuters) World’s Biggest Oil Company Promised Expats Idyllic Lifestyle – Then Fire Erupted (WSJ) Chaos and hackers stalk bitcoin investors (Reuters)
    Overnight Media Digest
    WSJ
    – A day after announcing their tax plan, Senate Republicans debated scaling back one of their largest and most controversial proposals to pay for lower tax rates – repeal of the individual deduction for state and local taxes. on.wsj.com/2yJB9qV

    This post was published at Zero Hedge on Sep 29, 2017.


  • Does “More Europe” Mean More Government?

    ‘And I will pray to a big god, as I kneel in the big church’
    – Peter Gabriel
    Imagine for a moment that you are a British citizen with doubts about Brexit. You turn on the television and listen to the President of the European Commission, Jean-Claude Juncker, state the following:
    That the 27 countries of the Union should adopt the euro and be in Schengen by 2019. That ‘we are not naive defenders of free trade’. That Europe needs a European superminister of Economy and Finance who is also Vice-President of the Commission and President of the Eurogroup. That a European Monetary Fund should be created Probably, at that moment, many doubts will dissipate. Unfortunately, for those who would like the UK to remain in the European Union, in the opposite direction of their wishes. You would probably think ‘thank God we are out’.
    Juncker’s speech on September the 13th did not seek to find elements for an agreement with the United Kingdom, but to strengthen the current model of the Eurozone at all costs. It was presented as an opportunity to remind us all of his real project for the European Union, clearly based on the French interventionist economic and financial ‘dirigisme’, and very far from the UK, Finnish, Irish or Dutch open model of economic freedom.

    This post was published at Ludwig von Mises Institute on September 28, 2017.


  • Teachers Demand $3,200 From Each Kentucky Household To Fund Pension Ponzi For 2 Years

    We have written frequently over the past couple of weeks about the disastrous public pension funds in Kentucky that are anywhere from $42 – $84 billion underfunded, depending on which discount rate you feel inclined to use. As we’ve argued before, these pensions, like the ones in Illinois and other states, are so hopelessly underfunded that they haven’t a prayer of ever again being made whole.
    That said, logic and math have never before stopped pissed off teachers and/or clueless legislators from throwing good money after bad in an effort to ‘kick the can down the road’ on their pension crises. As such, it should come as no surprise at all that the Lexington Herald Leader reported today that Kentucky’s 365,000 teachers and other public employees are now demanding that taxpayers contribute a staggering $5.4 billion to their insolvent ponzi schemes over the next two years alone. To put that number in perspective, $5.4 billion is roughly $3,200 for each household in the state of Kentucky and 25% of the state’s entire budget over a two-year period.
    Kentucky’s General Assembly will need to find an estimated $5.4 billion to fund the pension systems for state workers and school teachers in the next two-year state budget, officials told the Public Pension Oversight Board on Monday.
    That amount would be a hefty funding increase and a painful squeeze for a state General Fund that – at about $20 billion over two years – also is expected to pay for education, prisons, social services and other state programs.
    ‘We realize this challenge is in front of us. That’s obviously part of the need for us to address pension reform,’ said state Sen. Joe Bowen, R-Owensboro, co-chairman of the oversight board.

    This post was published at Zero Hedge on Sep 28, 2017.