• Category Archives War
  • Belgian Troops Shoot ‘Terrorist’ Suicide Bomber Screaming “Allahu Akbar” In Brussels Station

    Update 2: according to a Belgium prosecutor, the incident has been deemed to be a terrorist attack.
    #BrusselsCentralStation incident deemed to be act of terrorism, according to prosecutor.
    — Steve Herman (@W7VOA) June 20, 2017

    * * *
    Update: The suspect in Brussels train station blast shouted “Allahu Akbar,” according to a witness quoted by AFP.

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

  • Situation “Under Control” After Armed Gunmen Storm Luxury Resort Outside Mali Capital, Hostages Freed

    BREAKING: UN mission official: Terror attack underway at resort area in Mali's capital; casualties, hostages reported.
    — The Associated Press (@AP) June 18, 2017

    Update: AFP reports that about 20 hostages seized in Bamako resort attack are freed, according to security minister
    A luxury resort popular with Western expats outside Mali’s capital Bamako has been stormed by armed gunmen on Sunday, a spokesman at the Security Ministry said according to Reuters.
    The attack took place at the Le Campement resort in Dougourakoro, to the east of the capital Bamako, and is said to still be going on. The rural resort offers luxury accommodation, a spa and three swimming pools, as well as running excursions and sports for guests.

    This post was published at Zero Hedge on Jun 18, 2017.


    GOLD: $1276.30 down $13.80
    Silver: $17.39 down 19 cent(s)
    Closing access prices:
    Gold $1294.30
    silver: $17.68
    Premium of Shanghai 2nd fix/NY:$7.00
    LONDON FIRST GOLD FIX: 5:30 am est $1284.80
    LONDON SECOND GOLD FIX 10 AM: $1273.10
    For comex gold:
    TOTAL NOTICES SO FAR: 2105 FOR 210,500 OZ (6.5474 TONNES)
    For silver:
    For silver: JUNE
    Total number of notices filed so far this month: 499 for 3,495,000 oz

    This post was published at Harvey Organ Blog on June 8, 2017.

  • CNN Host Calls Trump “Piece Of Shit… Embarrassment To Humankind”

    Shortly after Saturday’s latest Islamic terrorist attack in London, when Trump was once again bashed for assuming that it was, well, a terrorist attack – which in retrospect turned out to be accurate – a CNN host slammed Trump for his kneejerk reaction to the attack and his renewed call for a travel ban. As noted last night, Trump took to Twitter Saturday evening, saying, ‘We need to be smart, vigilant and tough. We need the courts to give us back our rights. We need the Travel Ban as an extra level of safety!’
    We need to be smart, vigilant and tough. We need the courts to give us back our rights. We need the Travel Ban as an extra level of safety!
    — Donald J. Trump (@realDonaldTrump) June 3, 2017

    This post was published at Zero Hedge on Jun 4, 2017.

  • Trump Blasts London Terrorist Attacks: “We Must Stop Being Politically Correct” Or “It Will Only Get Worse”

    After a torrid night, in which at least seven people were killed in a terrorist rampage by three knife-wielding assailants in London, President Trump took to Twitter to warn terrorism will ‘only get worse’ if officials don’t ‘get down to the business of security for our own people’ and end political correctness.
    ‘We must stop being politically correct and get down to the business of security for our people. If we don’t get smart it will only get worse,’ he tweeted just after 7am ET on Sunday as the world reeled from the third deadly terrorist attack in the UK in less than three months.
    We must stop being politically correct and get down to the business of security for our people. If we don't get smart it will only get worse
    — Donald J. Trump (@realDonaldTrump) June 4, 2017

    This post was published at Zero Hedge on Jun 4, 2017.

  • “The Western Status Quo Political System Is Collapsing Into ‘Something Else'”

    Authored by Ben Hunt via EpsilonTheory.com,
    Michael Corleone: I saw a strange thing today. Some rebels were being arrested. One of them pulled the pin on a grenade. He took himself and the captain of the command with him. Now, soldiers are paid to fight; the rebels aren’t.
    Hyman Roth: What does that tell you?
    Michael Corleone: They could win.
    Hyman Roth: This county’s had rebels for the last fifty years – it’s in their blood, believe me, I know. I’ve been coming here since the ’20s. We were running molasses out of Havana when you were a baby – the trucks, owned by your father.
    Hyman Roth: Michael, I’d rather we talked about this when we were alone. The two million never got to the island. I wouldn’t want it to get around that you held back the money because you had second thoughts about the rebels.
    ? ‘The Godfather: Part II’ (1974)

    This post was published at Zero Hedge on Jun 1, 2017.

  • Manchester Attack Sees Asian Stocks Fall, Gold Firm

    The appalling attack in Manchester overnight in which over 22 people have been killed has led to a slight uptick in risk aversion in markets.
    Investors are cautious after police said they were treating a bombing at a concert in the Manchester Arena as a ‘terrorist incident’.
    Asian stocks gave up gains after the attacks and European indices had a subdued start.
    Gold rose in the aftermath of the attacks to three week highs prior to giving up some of the gains by mid morning trading.

    This post was published at Gold Core on May 23, 2017.

  • Junior Gold Stock ETF Poised to Create ‘Fire Sale’ Opportunity in Gold Stocks

    The creator of the wildly popular junior gold stock ETF has a 4 billion dollar problem.
    Although the mainstream media is reporting on this big problem, it’s missing the story’s most important detail… one that could help you make large capital gains over the next 12 months.
    I believe that very soon, a major issue with the junior gold stock ETF will create an opportunity to buy some of the world’s most valuable junior gold companies for pennies on the dollar… all thanks to a coming tsunami of selling that has nothing to do with the companies themselves.
    And it’s all thanks to a developing story in the popular VanEck Junior Gold Miner ETF (symbol GDXJ).
    I expect the opportunity around the corner will be so big that I’m getting millions of dollars of my own money ready to deploy. You could say I’m ‘amassing troops at the border.’
    This situation is urgent. It’s going to arrive quickly and play out quickly. And as I’ll explain, what’s coming in just a few short months may be the last great gold stock buying opportunity you get for a decade.

    This post was published at GoldSeek on 9 May 2017.

  • Who Are The Biggest Losers From The Puerto Rico Bankruptcy

    Back in 2013, markets tumbled (if briefly) on the news that Detroit would file for bankruptcy, at the time the biggest municipal bankruptcy in US history with over $18 billion in liabilities. Yesterday, algos barely even bothered to look up when Puerto Rico’s governor announced that the US Commonwealth would submit Title III (aka bankruptcy) protection, despite a debt load of more than $70 billion, or nearly four times greater than Detroit’s.
    So does that mean that there are no losers or casualties (metaphorically speaking for now) from the bankruptcy filing? The answer is that in addition to the citizens of Puerto Rico of course, more than half of whom live in poverty and who are about to be crushed by even more austere financial conditions (that said, nobody ever complained when Puerto Rico was raking in the billions in debt), the biggest losers are a handful of hedge and mutual funds, all of whom were attracted by the island’s high yields forgetting that yields were high in the first place for a reason.
    Here’s a list, courtesy of the WSJ:
    At the top of the pile are plain vanilla mutual funds, which held about $14 billion of Puerto Rico’s outstanding bonds as of March, according to Morningstar Inc. Two fund families, OppenheimerFunds and Franklin Templeton Investments, held most of the debt. About 7% of Franklin’s debt was insured as of mid-March, the WSJ calculates, which also means that 93% was not and will suffer impairments.

    This post was published at Zero Hedge on May 4, 2017.

  • Central Banks Are Talking More Than Ever

    This note takes a brief look into “narrative economics” and the link to central banks.
    In the wake of the financial crisis, central banks have stepped up their communications, whether in the form of speeches, press conferences, or the like.
    While not a quantitative style of understanding economics, it may prove a useful tool to understanding broad shifts in the economy.
    Robert Shiller, in a discussion paper earlier this year, laid out the argument for economists paying closer attention to the “narratives” surrounding economics. To Shiller, popular narratives drive more of the fundamental economic outcomes than economists are typically willing to admit.
    For example (one provided by Shiller), the 1921 recession following the end of World War I was, in part, driven by narrative. In contrast to the typical explanation of why it occurred (a central banker went on a long vacation), there are more fundamental reasons for the downturn, including a 50% increase in the price of oil (with wide-spread fear that oil production would peak in a few years) and-probably the most important-deflation expectations. Because consumers believed that prices would fall, they held back from making purchases.

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

  • Russian Senator Warns UK “Risks Being Wiped Off The Face Of The Earth”

    It would appear that British defense minister Michael Fallon’s comments that The UK could launch a preemptive nuclear strike “in the most extreme circumstances,” was not an implicit threat that the deputy head of the Russian Federation Council’s Committee for Defense and Security took lightly.
    In a terse Facebook posted response, Frants Klintsevich raged:
    “I think that the statement by the minister of defence of Britain’s Michael Fallon deserves a harsh response, and I’m not afraid to push him over the edge.
    At best this statement should be seen as a certain element of psychological warfare, which looks especially revolting in this context.

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

  • Populism and the Long-Term Debt Cycle

    With the strongly anti-EU candidate in France, Marine Le Pen, losing the first round of elections over the past weekend, global markets have been in rally mode for the past two days as fears over a breakup of the European Union have subsided.
    The general belief now is that the political uncertainties associated with the “populist wave” sweeping Europe have moderated and investors can now focus on generally improving economic fundamentals for the European region.
    FS Insider recently spoke with Tyler Kling at Macro Ops on why fears over populism were slightly overhyped at first but why, over the longer-term, the populism trend will prevail based on the long-term debt cycle, which is now running in reverse.
    The Three Socio-Economic Truths
    To understand the longer-term shift towards populism, Kling relies on three ‘socio-economic truths.’
    The first truth is that any large tribe of people is relatively open and peaceful when they perceive their standard of living to be improving. For example, since World War II, there hasn’t been too much conflict in the Western world, and living standards have been going up. We’ve seen a rush towards globalism as a result.

    This post was published at FinancialSense on 04/25/2017.

  • Ready, Set, Splat.

    As I write, the French stock market (the CAC 40), is doing a grand jet (up 4.5 percent!) in celebration of Emmanuel Macron’s assumed slaying of the dragon Le Pen. But that was just the first round under the interesting French election system. Consider that two other candidates who were eliminated, Monsieurs Fillon and Mlenchon, got nearly 40 percent of the vote. Are we so sure about where their voters go in the second and final round two weeks from now?
    I suspect that most Americans – even the ones who follow Rachel Maddow – are about as interested in French politics as differential calculus. Macron, 36, is a blank slate. He was finance minister under current president Franois Hollande, of the Socialist Party, but declared during the election campaign that he’s not a socialist, he only wanted to be of service to his country, and this time he ran under his own party, En Marche! He appears to represent the continuation of business-as-usual with the European Union, which seems to put him on the wrong side of history at this crucial moment – if you suppose, as I do, that the EU is so riddled with hopeless financial contradictions and centrifugal political tensions that it is unlikely to persist.
    Yet, understandably, people are reluctant to change the system they’re living under. Le Pen wants to blow the EU up, especially the bureaucracy lodged in Brussels that has become a self-serving and self perpetuating monster. Blowing up the EU would necessarily, it seems, mean the end of the European Central Bank, and with it the scams and Ponzi schemes that have provided an appearance of normality, despite an official 10.5 percent unemployment rate in France and a constant chain of public massacres by resident Jihadistas of one sort or another, some of them perpetrated by radical refugees allowed in under EU policy.

    This post was published at Wall Street Examiner on April 24, 2017.

  • Stocks Surge On The Week As Investors Shrug Off France Fears, Crude Carnage, & Macro Massacre

    Stocks soared on the week… (2nd biggest short-squeze in 4 months)
    Trannies (orange) best week in 4 months Small Caps (red) best week in 4 months Nasdaq (black) best week in 2 months S&P (green) best week in 2 months Dow (blue) best week in 7 weeks

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

  • America’s financial war strategy

    America’s renewed desire to escalate military tensions is a front for America’s continual financial war, this time directed at North Korea, Syria and possibly Iran. This is likely to be the opinion of China’s strategic advisors. We analyse the geopolitics and economics behind America’s war strategy from China’s perspective, concluding that it is entering its final phase. China’s exit plan appears to be to tie the pricing of energy and then other major commodities to gold, returning to the pre-1971 status quo, when the dollar was just a settlement link between commodity prices and gold. Except this time, the dollar itself will be side-lined, so far as China is concerned, which will use the yuan instead for its empire, which will be far larger than that of the US in time, measured by GDP.
    The day President Trump assumed office, it appeared that at last there would be dtente with Russia, leading to America’s withdrawal from unwinnable conflicts and towards a new peaceful agreement between these long-term enemies. However, within the traditional presidential bedding-down period of one hundred days, Trump has gone from his electoral platform of disengagement from foreign ventures to overt aggression in multiple locations.
    Something major has changed his thinking. Trump has committed no less than five acts of foreign aggression in that short time, with a sixth pending. The first was a joint operation with Emirati commandos in Yemen, which backfired, leading to the death of a Navy SEAL. The second was the recent attack on a Syrian airfield, in response to an alleged poison gas attack. The third is the escalation of military threats against North Korea. The fourth is the bombing of a cave network in Eastern Afghanistan. And the fifth is the deployment of more troops to Northern Iraq and Eastern Syria to step up the fight against ISIS. The rhetoric is also being ramped up against America’s long-term bogeyman, Iran.
    The three theatres of war that offer the best prospects for further escalation are Syria, Korea, and Iran. They are in two regions where significant quantities of dollars are owned and invested, offering the potential for capital flight, which should be kept in mind, when reading this article.
    Trump is also seeking congressional approval for an increase in defence spending totalling $54bn, a massive increase which, to put it in perspective, compares with Russia’s total defence budget of $66bn.
    The default assumption is that American military power and weapons technology guarantees battlefield objectives will be achieved. This hasn’t usually been the case since the first Iraq invasion in 1990. Since then, any initial success has been more than outweighed by subsequent failures and unintended consequences. It is because of American-led operations in Iraq, Afghanistan, Libya and Syria that Europe is flooded with refugees, bringing undercover terrorists with them. There can be little doubt that a dispassionate analyst would recommend America abandons military action, so there must be other reasons behind America’s war-mongering.
    China, itself a long-time strategic target for American aggression, is sure to be worried about the escalation of threats to North Korea, and with good reason. In terms of trade, South Korea is now an important trading partner, and for that reason, China will not want to see the situation on the Korean peninsula deteriorate. She will also not want America securing territory which abuts her border. Russia has a small border with North Korea as well and is likely to share that view. However, Russia’s trade is not so much with South Korea, but she is a major arms supplier to the North.

    This post was published at GoldMoney on APRIL 20, 2017.

  • Central Banking Warfare Model Readies The Next Step

    The global capacity for debt has reached it’s zenith. So-called developed markets and emerging markets have all reached maximum debt load. Of the all the major countries that impact the global GDP name one that’s not fully levered with debt. I’ll wait here while you look for that needle in a haystack.
    We came into the bail outs. The G7 had levered up. Then we had the emerging markets lever up and they’re finished levering up and now everybody’s levered up.
    There is no place to go. We can go to an equity model and we can optimize bottom-up but that requires a legitimate pricing function. And when you’re trying to run the whole thing with fake intel, fake science, fake news… The harvesting machine needs a new way to dig and digital currency and digital cash is that way. But you need all those countries in the tent and you need the ability to force everybody into a digital system. Source
    The world (tent) must get inline with the idea of global governance and global currency, otherwise, it will not work.
    Cryptocurrencies and all the people who believe this digital illusion is going to somehow save us from the evil banksters are overlooking what I have been saying since bitcoin first came onto the scene – it plays into the hands of the banksters and their desire to move us all to a digital currency. If someone believes for a second that Amazon or any other large multinational corporation that conducts retail business is going to accept bitcoin when they have been instructed not to, they are simply living in a fantasy.
    That’s why the guys from bitcoin drive me nuts. Because they think ‘Oh this is how we’re going to be free’. No, you’re prototyping Mr. Globals digital currency. Source
    If a person thinks the central banks and their digital currency will COMPETE with bitcoin you are not seeing the entire picture. That is not going to happen – EVER. The reason gold was outlawed in the U. S. in the 1930’s was to keep gold from competing with the Federal Reserve Note. Why would anyone believe the Federal Reserve is going to allow a digital form of currency to compete with their wealth transferring mechanism on a large scale?

    This post was published at GoldSeek on 20 April 2017.

  • North Korea Threatens US With “Super-Mighty Preemptive Strike”

    Whether China is right about North Korea conducting a nuclear test on April 25 remains to be seen, but for now Kim Jong-Un is content with merely escalating the verbal warfare and overnight North Korean state media warned the United States of a “super-mighty preemptive strike” following the latest round of comments by Rex Tillerson who said the United States was looking at ways to bring pressure to bear on North Korea over its nuclear programme.
    The Rodong Sinmun, the official newspaper of the North’s ruling Workers’ Party, did not mince its words: “In the case of our super-mighty preemptive strike being launched, it will completely and immediately wipe out not only U. S. imperialists’ invasion forces in South Korea and its surrounding areas but the U. S. mainland and reduce them to ashes” it said according to Reuters.

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

  • Angst in America, Part 4: Disappearing Pensions

    ‘Companies are doing everything they can to get rid of pension plans, and they will succeed.’
    – Ben Stein
    ‘Lady Madonna, children at your feet
    Wonder how you manage to make ends meet
    Who finds the money when you pay the rent?
    Did you think that money was heaven sent?’
    – ‘Lady Madonna,’ The Beatles
    There was once a time when many American workers had a simple formula for retirement: You stayed with a large business for many years, possibly your whole career. Then at a predetermined age you gratefully accepted a gold watch and a monthly check for the rest of your life. Off you went into the sunset.
    That happy outcome was probably never as available as we think. Maybe it was relatively common for the first few decades after World War II. Many of my Baby Boomer peers think a secure retirement should be normal because it’s what we saw in our formative years. In the early 1980s, about 60% of companies had defined-benefit plans. Today it’s about 4% (source: money. CNN). But today defined-benefit plans have ceased to be normal in the larger scheme of things. We witnessed an aberration, a historical anomaly that grew out of particularly favorable circumstances.

    This post was published at Mauldin Economics on APRIL 16, 2017.

  • The Boston Marathon Bombing After Four Years

    Since their peak ‘shortedness’ in mid-January, US Treasury bond bears have covered 500,000 10-year-equivalent contracts, reducing the net speculative short to its lowest since before Thanksgiving 2016.
    At the same time, however, Eurodollar shorts (bets on Fed rate hikes) have soared to a new record high (over $3.2 trillion notional).
    However, both the absolute level of Treasury yields and the short-term eurodollar curve (bets on The Fed’s path in the next 18 months) are losing their faith in Trumpflation and Janet Yellen.

    This post was published at Zero Hedge on Apr 16, 2017.