• Category Archives War
  • “Whole Towns Have Been Wiped Out” Hurricane Maria Devastates Dominica; Death Toll Climbs To 15

    Here are the 11 AM AST Key Messages for Hurricane #Maria pic.twitter.com/Cg1GorG7eU
    — NHC Atlantic Ops (@NHC_Atlantic) September 21, 2017

    Update (1:00 pm ET): The prime minister of Dominica says the death toll from Hurricane Maria has risen to 15, with 20 people still missing, according to the Associated Press. He expects the death toll in the island’s villages to rise.
    In a testament to the sheer power of Hurricane Maria, the most destructive storm to hit the Caribbean in nearly a century, civilization on the tiny island of Dominica was essentially wiped out after Maria – then a category 5 storm – battered the island with 160 mph gusts, leveling whole towns and wiping out the island’s electricity and communications infrastructure.
    The death toll on the island has climbed to 7 – but a complete count of casualties likely won’t be possible for at least a few more days, as the island’s shaken residents sift through the debris and contemplate what to do now that everything they and their neighbors owned has been destroyed.

    This post was published at Zero Hedge on Sep 21, 2017.


  • Metals Massacre – Iron Ore Enters Bear Market, Copper Collapses To 1-Month Lows

    The hype surrounding the credit-fueled resurgence in base metals in the first half of 2017 has crashed and burned on the altar of reality in China’s slowdown with industrial metals from copper to iron ore and zinc all plunging in the last two weeks. Odd that we don’t hear much from mainstream business media discussing the implications for a global coordinated economic growth narrative…
    Since the start of September, industrial metals have been hammered (as stocks soared)…
    ***
    Iron Ore prices have crashed into a bear market…

    This post was published at Zero Hedge on Sep 21, 2017.


  • 32 Children Dead, 30 More Missing In Rubble Of Collapsed Mexico City School

    More than 30 students have been confirmed dead, and 30 more are missing, as rescuers sift through the rubble of the Enrique Rebsamen primary and secondary school, a private school that was one of 44 buildings in Mexico City that collapsed during Tuesday’s historic earthquake. According to the Associated Press, a wing of the three-story school pancaked into a pile of concrete slabs during the quake, killing dozens and leaving dozens more trapped in the wreckage.
    Soldiers and volunteers toiled through the night to try and free the trapped schoolchildren and staff. At least and five teachers, and 32 students, have been confirmed dead. The 7.1 magnitude quake shook Central Mexico, leaving at least 250 people dead in the deadliest earthquake since a 1985 quake that left 5,000 dead. Bizarrely, Tuesday’s quake occurred on the 32nd anniversary of the 1985 quake. Two children were rescued from the rubble, but 30 more people are still missing, local media reported.

    This post was published at Zero Hedge on Sep 20, 2017.


  • Biggest Hedge Fund Manager In The World Warns “Bitcoin Is A Bubble”, Says Gold Is Money

    Bridgewater Associates founder Ray Dalio, the 68-year-old founder of the world’s largest hedge fund, said bitcoin is “in a bubble” during an interview on CNBC Tuesday morning, arguing that the so-called currency is too difficult to spend, and too volatile to be a useful store of value.
    During the interview, Dalio argued that most investors who buy the digital currency do so with the hope of making a quick speculative profit, undermining bitcoin’s functionality as a currency.
    ‘There are two things that are required for a currency. The first thing is that you can transact in it, it’s a medium of exchange. The second thing is it’s a store of value. Bitcoin today…you can’t spend it very easily.
    In terms of a storehold of wealth, it’s not an effective storehold of wealth because it has volatility to it. Unlike gold, let’s say, which reflects the value of money, its more stable than the value of money, bitcoin is a highly speculative market.’

    This post was published at Zero Hedge on Sep 19, 2017.


  • Not Just Florida: Georgia And South Carolina Face “Catastrophic Storm Surge”

    As Hurricane Irma looks to be hurdling straight for a direct hit on Southern Florida, meteorologists from Weather Underground are warning that the most devastating impacts of the storm could be felt much further north in towns along the coast of Georgia and South Carolina where the storm surge could be a catastrophic 20-28 feet high in certain areas. To put that in perspective, Hurricane Katrina in 2005 set a record for the largest storm surge ever recorded along the U. S. coast at 27.8 feet.
    If Irma makes a trek up the East Coast from Miami to southern South Carolina as a Category 3 or 4 hurricane, as the models currently suggest, the portions of the coast that the eyewall touches will potentially see a massive and catastrophic storm surge, breaking all-time storm surge records and causing many billions of dollars in damage. Even areas up to a hundred miles to the north of where the center makes landfall could potentially see record storm surges. The area of most concern is the northern coast of Florida, the coast of Georgia, and the southern coast of South Carolina, due to the concave shape of the coast, which will act to funnel and concentrate the storm surge to ridiculous heights. If we look at wunderground’s storm surge maps for the U. S. East Coast, we see that in a worst-case Category 3 hurricane hitting at high tide, the storm tide (the combined effect of the storm surge and the tide) ranges from 17 – 20′ above ground along the northern coast of Florida, and 18 – 23 feet above ground along the Georgia coast. If Irma is a Cat 4, these numbers increase to 22 – 28 feet for the coast of Georgia. This is a Katrina-level storm surge, the kind that causes incredible destruction and mass casualties among those foolish enough to refuse to evacuate.
    So, which coastal towns are most at risk? As Weather Underground notes, Savannah in Southern Georgia could see a surge of up to 23 feet if Irma strikes as a Category 3 storm. Obviously, the surge would be even larger if Irma manages to maintain Cat-4 winds.
    Maximum of the “Maximum Envelope of Waters” (MOM) storm tide image for a composite maximum surge for a large suite of possible mid-strength Category 3 hurricanes (sustained winds of 120 mph) hitting at high tide (a tide level of 3.5′) along the coast of Georgia. What’s plotted here is the storm tide–the height above ground of the storm surge, plus an additional rise in case the storm hits at high tide. Empty brownish grid cells with no coloration show where no inundation is computed to occur. Inundation of 19 – 23′ will occur in a worst-case scenario along most of the coast.

    This post was published at Zero Hedge on Sep 7, 2017.


  • CNN’s Wolf Blitzer Speculates That Barcelona Attack May Be “Copycat” Of Charlottesville

    This is a new low, even for CNN.
    Following a terrorist attack that has left at least 13 people dead and 50 injured in Barcelona after a van, allegedly driven by a man carrying a Moroccan passport, plowed through crowded streets (see our coverage here), CNN’s Wolf Blitzer actually suggested on air that the attacker may be a “copycat” looking to recreate the Charlottesville tragedy.
    ‘There will be questions about copycats. Questions, if what happened in Barcelona, was at all, at all, a copycat version of what happened in Charlottesville, Virginia,’ Blitzer said. ‘Even though they may be different characters and different political ambitions, they use the same killing device. A vehicle going at high speed a group, a large group, of pedestrians.’

    This post was published at Zero Hedge on Aug 17, 2017.


  • FUNCTIONAL ILLITERATES TRYING TO ERASE HISTORY

    ‘True patriotism sometimes requires of men to act exactly contrary, at one period, to that which it does at another, and the motive which impels them the desire to do right is precisely the same.’ ‘ Robert E. Lee
    I consider myself a student of history. I’ve always been fascinated by the personalities who drove events throughout history. I probably would have been a history major in college if I didn’t feel the need to make enough money to support myself and my family. I chose a business major and decided studying history would be my hobby. Over the years I’ve taken a particular interest in the Civil War. You could even call me a Civil War buff.
    I’ve probably read 60 books on the Civil War, from Bruce Catton, Shelby Foote and numerous other historians. I’ve visited the Gettysburg battlefield a half dozen times, as it is only 150 miles from my home. My basement office is decorated with six prints depicting various scenes from the Civil War. One depicts Robert E. Lee and Stonewall Jackson at Fredericksburg, another depicts Jackson leading his troops through Richmond, another depicts Grant taking command of Union forces, another shows Chamberlain leading the charge down Little Round Top, another portrays Lee and Longstreet making the fateful decision to send Pickett’s men on their futile charge into history, and the last showing the slaughter during Pickett’s charge.

    This post was published at The Burning Platform on August 15, 2017.


  • This Is How America Would Wage A Nuclear War Against North Korea

    Authored by Dave Majumdar via The National Interest,
    “It is time to think about the unthinkable…”
    The standoff between the United States and North Korea continues to escalate with neither side willing to back down.
    With each passing day, the possibility of open warfare breaking out seems to increase as each side ups the ante. Indeed, President Donald Trump has ratcheted up his rhetoric in recent days – seemingly threatening to launch a nuclear first strike against North Korea.
    ‘North Korea best not make any more threats to the United States,’ Trump told reporters at his golf club in Bedminster, New Jersey. ‘They will be met with fire and fury like the world has never seen. He has been very threatening beyond a normal state and as I said they will be met with fire and fury and frankly power the likes of which this world has never seen before.’

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


  • Pat Buchanan Asks “Is The American Empire Worth The Price?”

    ‘When a man knows he is to be hanged in a fortnight,’ Samuel Johnson observed, ‘it concentrates his mind wonderfully.’
    And the prospect of a future where Kim Jong Un can put a nuclear weapon on a U. S. city is going to cause this nation to reassess the risks and rewards of the American Imperium.
    First, some history.
    ‘Why should Americans be first to die in any second Korean war?’ this writer asked in 1999 in ‘A Republic, Not an Empire.’
    ‘With twice the population of the North and twenty times its economic power, South Korea … is capable of manning its own defense. American troops on the DMZ should be replaced by South Koreans.’
    This was denounced as neo-isolationism.

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


  • Seasonality: Will Patterns that Worked in the Past Also Work in the Future?

    Historians of the Future
    Every investor makes trading decisions based on what happened in the past – there is no other way. What really interests us is the future though. After all, what happens in the future ultimately determines investment success.
    When in doubt, you can always try to reach the pasture… In Human Action, Ludwig von Mises described stock market speculators as akin to ‘historians of the future’. This is without a doubt the most trenchant definition of speculators anyone has ever come up with. What Mises wanted to convey is that the skills of speculators are of a thymological nature, i.e., similar to historians, they have to be aware of the data and have to be able to apply ‘understanding’ in order to be successful in their task. The meaning of understanding in this context is probably best explained by an example: a historian may look at the historical data known about an important historical figure, such as e.g. Quintus Fabius Maximus Verrucosus, best known by his nickname Cunctator (‘the delayer’ – this was originally meant to be an insult). One could simply list all the battles the Cunctator avoided, the guerrilla-type tactics he employed to harass Hannibal’s troops, the battles he decided to join, and so on. But a mere listing of these facts would do little to help us grasp his motives, his personality, the pressures he was subject to, his political goals, his influence on posterity, etc. This is where the historian’s real task begins. If he has the ability to impart a proper understanding of the man and his times, he has succeeded as a historian. The job of speculators is very similar: they have to know the data (which necessarily describe the past) and use understanding in order to so to speak paint an image of the market’s future history before their mind’s eye. And while this future-oriented faculty of understanding is a sine qua non for successful speculation (note that ‘speculation’ actually encompasses all types of entrepreneurial activity, no negative connotation is implied by the term), it could not possibly be applied without knowledge of the data and patterns of the past. [PT]

    This post was published at Acting-Man on August 3, 2017.


  • AUGUST 3/GOLD RECOVERS FROM LAST NIGHT’S 7 PM FLASH CRASH BUT STILL DOWN $3.65/SILVER DOWN 10 CENTS/DESPITE THE DROP IN PRICE OF GOLD YESTERDAY, OPEN INTEREST RISES BY OVER 7,000 CONTRACTS/WAR OF…

    GOLD: $1268.70 DOWN $3.65
    Silver: $16.64 DOWN 10 cent(s)
    Closing access prices:
    Gold $1268.60
    silver: $16.68
    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: $1268.88 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1263.50
    PREMIUM FIRST FIX: $5.38
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1266,17
    NY GOLD PRICE AT THE EXACT SAME TIME: $1262.30
    Premium of Shanghai 2nd fix/NY:$3.47
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1261.80
    NY PRICING AT THE EXACT SAME TIME: $1262.25
    LONDON SECOND GOLD FIX 10 AM: $1268.10
    NY PRICING AT THE EXACT SAME TIME. $1267.35
    For comex gold:
    AUGUST/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 73 NOTICE(S) FOR 7,300 OZ.
    TOTAL NOTICES SO FAR: 3212 FOR 321,200 OZ (9.990 TONNES)
    For silver:
    AUGUST
    2 NOTICES FILED TODAY FOR
    10,000 OZ/
    Total number of notices filed so far this month: 413 for 2,065,000 oz

    This post was published at Harvey Organ Blog on August 3, 2017.


  • Europe’s Biggest Oil Refinery Shut Down After Fire

    Shell’s Pernis refinery in Rotterdam, the biggest in Europe, has been partially shut down after a short circuit caused a major fire on Sunday. Deutsche Welle quoted a Shell spokesman as saying there were no casualties. The company is currently assessing the damage to establish when the refinery will be brought back online.
    Reuters quoted a company statement to traders from Sunday as saying all loadings of fuels from the 404,000-bpd Pernis facility have been suspended immediately and they were likely to remain suspended today as well. The shutdown of the refinery should push up the prices of gasoline, diesel, and jet fuel in northwestern Europe.

    This post was published at FinancialSense on 07/31/2017.


  • JULY 25/COMEX OPTIONS EXPIRY AND AS ALWAYS GOLD AND SILVER ARE HIT: GOLD FALLS $2.10 BUT SILVER RESPONDS AND RISES 10 CENTS/GLD HAS A LOSS OF 9.17 TONNES/SLV HAS A LOSS OF 3.309 MILLION OZ/TURKEY…

    GOLD: $1252.40 DOWN $2.10
    Silver: $16.55 UP 10 cent(s)
    Closing access prices:
    Gold $1250.00
    silver: $16.52
    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: $1259.96 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1254.25
    PREMIUM FIRST FIX: $5.71
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1262.69
    NY GOLD PRICE AT THE EXACT SAME TIME: $1257.25
    Premium of Shanghai 2nd fix/NY:$5.44
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1252.00
    NY PRICING AT THE EXACT SAME TIME: $1252.50
    LONDON SECOND GOLD FIX 10 AM: $1254.40
    NY PRICING AT THE EXACT SAME TIME. $1254.50
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 6 NOTICE(S) FOR 600 OZ.
    TOTAL NOTICES SO FAR: 157 FOR 15700 OZ (.4883 TONNES)
    For silver:
    JULY
    122 NOTICES FILED TODAY FOR
    610,000 OZ/
    Total number of notices filed so far this month: 3149 for 15,745,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    WE HAVE NOW ENTERED OPTIONS EXPIRY WEEK:
    COMEX OPTIONS EXPIRY: TOMORROW JULY 26.2017
    LONDON BASED OPTIONS EXPIRY: JULY 31.2017 AT 11AM OR SO.
    (OTC/LBMA CONTRACTS)

    This post was published at Harvey Organ Blog on July 25, 2017.


  • JULY 17/GOLD RISES $4.20/SILVER UP ANOTHER 17 CENTS/GLD LOSES ANOTHER 1.77 TONNES DESPITE GOLD’S GAIN!!/CHINESE SMALL CAPS CRASH LAST NIGHT/ITALY CANNOT HANDLE ANY MORE MIGRANTS: GIVES THE EU AN …

    GOLD: $1234.50 UP $4.20
    Silver: $16.13 UP 17 cent(s)
    Closing access prices:
    Gold $1234.50
    silver: $16.13
    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: $1241.75 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1231.60
    PREMIUM FIRST FIX: $10.15
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1241.37
    NY GOLD PRICE AT THE EXACT SAME TIME: $1231.00
    Premium of Shanghai 2nd fix/NY:$10.37
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1229.85
    NY PRICING AT THE EXACT SAME TIME: $1230.45
    LONDON SECOND GOLD FIX 10 AM: $1234.10
    NY PRICING AT THE EXACT SAME TIME. $1234.45
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 3 NOTICE(S) FOR 300 OZ.
    TOTAL NOTICES SO FAR: 120 FOR 12000 OZ (.3732 TONNES)
    For silver:
    JULY
    51 NOTICES FILED TODAY FOR
    255,000 OZ/
    Total number of notices filed so far this month: 2866 for 14,330,000 oz

    This post was published at Harvey Organ Blog on July 17, 2017.


  • Stocks and Precious Metals Charts – The Calm Before the Storm

    ‘In truth, however, nothing is inevitable and very little is new. And tech is no more the root of the problem than are trade or globalization. Many of our most vaunted innovations are simply methods — electronic or otherwise — of pulling off some age-old profit-maximizing maneuver by new and unregulated means.’
    Thomas Frank
    ‘It is my purpose, as one who lived and acted in these days, first to show how easily the tragedy of the Second World War could have been prevented; how the malice of the wicked was reinforced by the weakness of the virtuous.’
    Winston S. Churchill, The Gathering Storm
    Here is some knowledge.

    This post was published at Jesses Crossroads Cafe on 13 JULY 2017.


  • The Tripwire on the Next ‘Black Monday’

    ‘Black Monday’ – Oct. 19, 1987 – the bloodiest one-day carnage in market history…
    The Dow plunged 508 points that hell-mouth day – an unthinkable 22%.
    A similar stock market event today would spell a 4,724-point cataclysm.
    We liken that October day in 1987 to the ancient Battle of Cannae… when invincible Rome lost as many as 70,000 legionnaires to Hannibal’s armies – in a single day.
    Or July 1, 1916, the first day of the Battle of the Somme, when nearly 20,000 British soldiers fell before the German guns… and never got up.
    What could lead today’s market to its own Cannae, its own Somme… another Black Monday?
    Today we set aside our renowned optimism… enter into the spirit of doom… and consider one possibility.
    Harley Bassman is a world-class expert in derivatives – what Warren Buffett has termed ‘weapons of mass destruction.’
    Bassman’s taken the current market and put it under his microscope.
    He specifically wanted to answer:

    This post was published at Wall Street Examiner on July 12, 2017.


  • Metals Massacre

    The short week was quite volatile as traders sat on the beach and the weakness in metals was the standout in my books.
    Let’s move right into the charts and check into the carnage.
    ***
    Gold lost 2.62% and broke a major uptrend line.
    The action was very, very poor and on heavy volume which tells me more downside is in golds near future.
    Looks to me like the major $1,180 pivot area is soon to be back in play and below that, support sits down at $1,130.
    Let’s see how next week plays out but $1,180 should be a good level to at least get a short-term bounce play.
    Time will tell.

    This post was published at GoldSeek on Sunday, 9 July 2017.


  • What Real Independence Looks Like — Nick Giambruno

    Every July 4, Americans have less independence to celebrate.
    The country’s original principles preserved a certain degree of independence for the individual. But today, the US only pays lip service to those ideals. In light of Independence Day, I think we should consider an important question:
    What does real independence look like, and how can you achieve it?
    Anyone paying the slightest attention to the welfare/warfare state knows what it does not look like:

    This post was published at International Man


  • China Sends Warships, Fighter Jets To Intercept US Destroyer In South China Sea

    Just days before Trump’s meeting with the Chinese president in Hamburg later this week for the G-20 summit, the Trump administration sent a guided-missile destroyer near Triton Island in the South China Sea, Bloomberg reported, a move “which may cause concern ahead of President Donald Trump’s meeting with his Chinese counterpart.”
    According to an anonymous official cited by Bloomberg, the U. S. Navy sent the destroyer USS Stethem within 12 nautical miles (22 kilometers) of Triton Island on Sunday, passing through the contested waters on the basis of “innocent passage.”

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


  • What Problems Are We Solving by Increasing Complexity?

    The incremental increase in systemic complexity is rarely if ever recognized as a problem that additional complexity can’t solve. The Collapse of Complex Societies fame has observed that societies increase complexity to solve pressing problems that cannot be resolved with existing solutions. What is complexity in this context? More organization, more layers of management, higher levels of specialization, an expansion of roles and differentiated areas of expertise, more channels of communication, more feedback loops, and an increase in the quantity and types of communication. All of which consumes more energy and more treasure, not just to build the infrastructure of this increased complexity but to train the staff and maintain the higher costs going forward. Which raises the obvious question: how does increasing cost solve anything? Doesn’t increasing the cost of a system create the problems resulting from taking money from some other source to pay the higher costs? There are several different answers to this question. 1. The problem that must be solved is an existential threat to the society, and therefore cost is no longer an issue. World War II offers a historical example of an existential threat requiring a vast expansion of complexity and cost. The upside of this dynamic is the problem is resolved relatively decisively by either victory or defeat. The downside is the vast sums borrowed to fund the war effort must be paid, or at least the interest must be paid–or the enormous debts must be renounced, crippling trust and the credit system.

    This post was published at Charles Hugh Smith on WEDNESDAY, JUNE 28, 2017.