• Tag Archives Money
  • PEDIATRICIANS IN FLORIDA REFUSE TO SEE UN-VACCINATED KIDS

    Some Florida parents got a bit of a surprise when they were kicked out of pediatric firms for having unvaccinated children.
    Even though the decision to not vaccinate is growing among those who read the vaccine inserts and familiarize themselves with the potential side effects, doctors want all children forcibly injected because they make more money if their patients vaccinate. It’s not a secret that the vaccine manufacturers dumped big money into California lawmakers pockets just before mandating all children get all the recommended vaccines. But safety and health come second to a pocket full of money.
    ‘We want everyone vaccinated and caught up with the CDC schedule by age of 2,’ said Dr. Thomas Connolly, a pediatrician with the Carithers Pediatric Group. Connolly said he strongly encourages all of his patients to get vaccinated. ‘It’s nothing personal against you as a person, I respect your decision that is your decision, but my medical decision and my background and my belief is I want the child vaccinated to maximize their defense,’ Connolly said. In other words, he wants to make sure you pump your child with known toxins so he can continue to make money.

    This post was published at The Daily Sheeple on AUGUST 15, 2017.


  • The Billionaire Bears Club

    I don’t regularly watch CNBC, but last week while on vacation, I turned on the Sirius XM radio and was instantly assaulted with Jim Cramer’s shrieking. I was about to turn the channel when he shouted how the ‘billionaire bears’ might finally be catching a break with the stock market downdraft.
    I have to give Cramer credit, that’s a good line to describe the growing cohort of negative investment legends. Wondering if Jim came up with it on his own, I googled it.
    Aware of the burgeoning $1.99 Kindle romance section where some serious authors have created pseudo names to write under because the money is too good to pass up, I have never actually been exposed to these books. Until now…
    Did Cramer come up with his description after reading Ursala Maya’s The Billionaire Bears Club? I had planned to quote the summary in this post, but even the summary’s innuendo might be pushing it.

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


  • Diversify Into Gold Urges Dalio on Linkedin – ‘Militaristic Leaders Playing Chicken Risks Hellacious War’

    – Don’t let ‘traditional biases’ stop you from diversifying into gold – Dalio on Linkedin
    – ‘Risks are now rising and do not appear appropriately priced in’ warns founder of world’s largest hedge fund
    – Geo-political risk from North Korea & ‘risk of hellacious war’
    – Risk that U. S. debt ceiling not raised; technical US default
    – Safe haven gold likely to benefit by more than dollar, treasuries
    – Investors should allocate at least 5% to 10% of assets to gold
    – ‘If you don’t have 5-10% of your assets in gold as a hedge, we’d suggest that you relook at this’
    – ‘If you do have an excellent analysis of why you shouldn’t have such an allocation to gold, we’d appreciate you sharing it with us …’
    by Ray Dalio via Linkedin
    There are returns, and there are risks. We think of them individually, and then we combine them into a portfolio.
    We think of returns and opportunities as coming from those things we’d bet on, and we think of risks as the adverse market consequences of us being wrong due to our being out of balance. We start with our balanced beta portfolio – i.e., that portfolio that would most certainly fund our intended uses of the money.

    This post was published at Gold Core on August 15, 2017.


  • The Return of Sound Money

    On Sunday evening, August 15, 1971, President Nixon told the American people the U. S. would ‘suspend temporarily the convertibility of the dollar into gold or other reserve assets’ as a means of defending the dollar against ‘the speculators.’ This was one part of his New Economic Policy, a phrase borrowed from communist Vladimir Lenin, which included a 90-day freeze on prices and wages, and a 10 percent tax on imports. Gary North points out that Barron’s editor Robert Bleiberg, in a 1974 speech at Hillsdale College, thought the price-wage freeze was perhaps a ploy to distract attention from the ‘unthinkable’ act of severing the dollar’s last connection to gold.
    As North notes, the voters knew nothing about gold and most economists, with their Keynesian pedigree, approved of Nixon’s action. It wasn’t a high-risk move on Nixon’s part.
    Of course, the promised dollar stability resulted instead in a decade of unemployment and inflation. According to the BLS, the price level today is six times higher than it was when Nixon slit our monetary throats on a long-ago midsummer night. Inflation and unemployment began to abate only after President Carter appointed Paul Volcker as Fed chairman in July, 1979. At a press conference on July 25,
    Volcker spoke of price stability. To his way of thinking, the only way to get price stability was to drive up interest rates to the point where the economy stalled, to where people no longer wanted to buy. [Paul Volcker, The Making of a Financial Legend, p.64]

    This post was published at GoldSeek on Tuesday, 15 August 2017.


  • Household Debt At Record Level – Bigger Than China’s GDP

    The economy continues to grow weaker despite all of the Fed, Wall St. and media propaganda to the contrary. The economy is growing weaker due to the deteriorating financial condition of the consumer, which is by far the biggest driver of GDP in the United States. The only way the policy-makers can avoid a systemic collapse is ‘helicopter’ money printing, in which printed cash or digital currency credits is, in some manner, distributed to the populace.
    The Fed reported that non-revolving consumer debt (not including mortgage debt) hit $2.6 trillion at the end of the first quarter. Student loans outstanding hit a record $1.44 trillion. Recall that at least 40% of this debt is in some form of delinquency, default or ‘approved’ non-pay status. Auto loans hit a record $1.2 trillion. Of this, at the very least 30% is subprime. A meaningful portion of the auto debt is of such poor credit quality when it’s issued that it is not even rated. Credit card debt is now over $1 trillion dollars and at a record level. The average outstanding balance per capita is $9600 per card for those who don’t pay in full at the end of the month. Just counting the households with credit card debt balances, the average balance per household is $16,000. The average household auto loan balance for all households with a car loan is over $29,000.
    The data shows a consumer that is buried in debt and will likely begin to default at an accelerating rate this year. In fact, I’d call these statistics an impending economic and financial disaster. Credit card companies are already warning about credit charge-offs. Synchrony (which issues credit cards for Amazon and Walmart) reported that its credit card charge-offs would rise at least 5% in 2017. Capital One (Question: ‘What’s in your wallet?’ – Answer: ‘Not money’) reported that credit card charge-offs soared 28% year over year for Q1. Synchrony, Capital One and Discover combined increased their Q1 provision for bad loans by 36% over last year’s provisions taken.

    This post was published at Investment Research Dynamics on August 14, 2017.


  • Why Cryptocurrencies Will Never Be Safe Havens

    Every further new high in the price of Bitcoin brings ever more claims that it is destined to become the preeminent safe haven investment of the modern age – the new gold.
    But there’s no getting around the fact that Bitcoin is essentially a speculative investment in a new technology, specifically the blockchain. Think of the blockchain, very basically, as layers of independent electronic security that encapsulate a cryptocurrency and keep it frozen in time and space – like layers of amber around a fly. This is what makes a cryptocurrency ‘crypto.’
    That’s not to say that the price of Bitcoin cannot make further (and further…) new highs. After all, that is what speculative bubbles do (until they don’t).
    Bitcoin and each new initial coin offering (ICO) should be thought of as software infrastructure innovation tools, not competing currencies. It’s the amber that determines their value, not the flies. Cryptocurrencies are a very significant value-added technological innovation that calls directly into question the government monopoly over money. This insurrection against government-manipulated fiat money will only grow more pronounced as cryptocurrencies catch on as transactional fiduciary media; at that point, who will need government money? The blockchain, though still in its infancy, is a really big deal.

    This post was published at Ludwig von Mises Institute on August 15, 2017.


  • Margin Debt Sets Four New Peaks This Year – a Red Flag with a New Twist

    According to the latest data from the New York Stock Exchange, margin debt has hit new peaks four times this year, starting with a new record of $513 billion in January; $528 billion in February; $536.9 billion in March; and reaching a whopping $549 billion in April. The most recent reading for June shows a decline to $539 billion – but that is still an increase of 64 percent from the margin level of January 2008, the year of the epic financial crash on Wall Street.
    Spiraling margin debt, where investors pledge securities at their brokerage firm to obtain a loan, typically to buy more securities, is frequently associated with stock market crashes. The dot.com bust followed a margin buying binge in 1999 and early 2000. Margin debt exploded from $153 billion in January 1999 to $278.5 billion by March of 2000, according to data from the New York Stock Exchange archives.
    Loans using securities as collateral may be even more dangerous this time around. According to an enforcement action filed by the Massachusetts Securities Division on October 3, 2016, brokerage firms may be pushing securities based loans on their clients for purposes of mortgage funding, tax liabilities, weddings, and graduations. The enforcement action was brought against Morgan Stanley, the behemoth brokerage firm that gobbled up Smith Barney brokers, but the charges include an interesting statement from a former Morgan Stanley broker that suggests that another giant brokerage firm, Merrill Lynch, is offering similar loans. The statement from the broker reads:
    ‘Morgan Stanley told our office during the end of February [2015] and beginning of March to pitch this product to all its customers. Management said they were doing this to keep up with its major competitor, Merrill Lynch, who was already offering express credit lines. They told us that there was big money to be made by having our customers take out credit since the variable interest rate was profitable to the company and they could just sell out of the customers positions if the customer failed to make the payment. They told us to call our customers to tell them that they could use the credit line to buy a house, pay for a home improvement project, buy a car and/or pay for school, etc. They asked us regularly how many people we had put in these products and used measurement tools to compare us amongst our peers. I did not feel comfortable recommending every customer establish a credit line because I felt that my role as a Financial Advisor and Fiduciary was to help customers save and make money and not go into bad debt.’

    This post was published at Wall Street On Parade on August 14, 2017.


  • Gold Has Yet Another Purpose – Help Fight Cancer

    – Gold has yet another purpose and may help fight cancer
    – Gold increases effectiveness of drugs used to treat cancer cells by acting as catalyst – research shows
    – Use of gold in technology and health growing each year
    – Tech use to increase- number of patent applications in 2017 grew
    – Industrial applications such as solar and bio-metrics reduce availability of above ground supply and gold for investment
    – Another string to the bow of gold and potential impact on sentiment towards gold and on the gold price
    – ‘Could gold finally have a purpose?’ bizarre headline ignores gold’s 2,500 plus year history as a means of exchange, money and a store of value
    ***
    Editor: Mark O’Byrne
    Real, scientific evidence has been popping up for a while now which suggests the precious metal can make some major contributions to the world of science and medicine.
    As a fan of Goldschlger I have long been convinced of the health benefits of gold and just last week a research team at Edinburgh University announced results that showed gold nanoparticles could increase the effectiveness of drugs used to treat lung cancer cells.

    This post was published at Gold Core on August 14, 2017.


  • AHEAD: “BREAKDOWN IN FIAT CURRENCY SYSTEM” | Kenneth Ameduri

    The following video was published by FinanceAndLiberty.com on Aug 13, 2017
    CrushTheStreet chief editor Kenneth Ameduri joins FinanceAndLiberty to discuss the global economy. He explains the US has experienced the worst productivity in 35 years, and money printing has gone into overdrive.
    Where are paper currencies headed? “The world is looking for a free market alternative to be able to put their money in,” he says. This shift is why we’re seeing money flow into cryptocurrencies, gold, and silver. Bitcoin and other cryptocurrencies are “big competition for the Dollar, for the Euro.”


  • FX Week Ahead: Myopic Markets Hit USD On Inflation Miss

    FX Week Ahead – Myopic markets hit USD on inflation ‘miss’ – rest of the major economies in focus ahead.
    Once again, sluggish inflation takes a hammer to currency and we saw the USD turn back from a tentative recovery, which many still see as corrective against some of its major counterparts. In comparative terms, we still feel the numbers out on Friday were not as bad as the pundits and markets perceived, but liquidity in the summer is not at its best at short term (reactive) flow gets the ‘benefit’ to some degree, with the usual suspects winning out – for now. The core rate held 1.7% – so that is 3 months in a row now, but the headline was up from 1.6% to 1.7% instead of 1.8% – small potatoes at the moment, but when looking at this as a global phenomenon, the impact was a little too one dimensional/sided, but next week will naturally tell us more.
    No surprise then to have seen the EUR shooting back into the mid 1.1800’s again as the revival in Europe continues to draw in investors. As we have seen in the sharp upturn in EUR/CHF, dormant cash on the sidelines is now being deployed, but at a pace which may unnerve the ECB who are ever wary of seeing another taper tantrum get out of hand. Not that they have to worry about the rates market at the present time, with tensions between the US and North Korea driving money back into fixed income and safe haven in general, with the benchmark German 10yr now under 40bps again alongside the T-Notes pulling back further into the low 2.00%’s. The spread has been widening again, but the near term correlation with EUR/USD has diminished (to put it politely) and after the very brief dip under 1.1700, 1.2000 is back on the radar.

    This post was published at Zero Hedge on Aug 13, 2017.


  • If You Stand With Trump, Please Support #TeamTrump Candidates For Congress

    Do you stand with President Trump? If so, I would like to ask you to support #TeamTrump candidates for Congress all over the nation. I am running on a pro-Trump platform in Idaho’s first congressional district, and so far I have created an enormous amount of buzz all over the state. But in order to win, I have to get my message out to hundreds of thousands of potential voters that are not familiar with my work, and that is going to take a lot of time, effort, energy and resources. It is humbling to be in a position where I am forced to rely on others, and I am learning how to reach out and ask for help. If you would like to contribute to the campaign, you can do so right here. Every single dollar makes a tremendous difference, and no donation is too small.
    Fortunately, other #TeamTrump candidates are also starting to gain momentum across the country. Omar Navaro and Paul Nehlen are just two examples. If every Trump voter in the country donated at least one dollar to the campaign of a pro-Trump candidate for Congress today, all of us could have our campaigns completely funded by tomorrow. I recently learned that Americans spend 80 billion dollars a year on lottery tickets. It is so sad that people are literally flushing tens of billions of dollars down the toilet when they could be doing something constructive with it. Would you be willing to donate at least one dollar to my campaign? I personally see every single donation that comes into my campaign, and every single one encourages me so greatly.
    Right now, many Democrats are having absolutely no problems raising money. If the Democrats win control of the Senate and the House in 2018, they are going to impeach President Trump, and their donors smell blood in the water.
    And an effort may be made to impeach President Trump anyway if the composition of Congress stays about the same that it is right now. Many establishment Republicans would jump at the chance to stab Trump in the back, and that is why it is absolutely imperative that we get Trump a lot of friends in Congress in 2018.

    This post was published at The Economic Collapse Blog on August 12th, 2017.


  • Is The Yellen Fed Planning To Sabotage Trump’s Presidency?

    Authored by Stefan Gleason via Money Metals Exchange,
    The Federal Reserve can make or break a president.
    Monetary policy influences all financial markets as well as the cycles in the economy. No president wants to have to run for re-election when the stock market and economy are turning down.
    Recall that President George H. W. Bush was sitting on sky-high job approval numbers in 1991 and was expected to coast to victory in his 1992 re-election bid. But then the economy swooned toward recession, giving Bill Clinton the opening he needed.
    Bush later blamed Federal Reserve chairman Alan Greenspan for his defeat. Greenspan had held interest rates too high for too long, Bush complained.
    On the campaign trail in 2016, Donald Trump complained that Fed chair Janet Yellen was trying to help Hillary Clinton by keeping rates near zero and pumping up the stock market with liquidity.
    ‘They’re keeping the rates artificially low so that Obama can go out and play golf in January and say that he did a good job… It’s a very false economy,’ Trump told reporters in September 2016. Later that month in the second presidential debate, he declared, ‘We are in a big, fat, ugly bubble. . . The only thing that looks good is the stock market. But if you raise interest rates even a little bit, that’s going to come crashing down.’

    This post was published at Zero Hedge on Aug 12, 2017.


  • Chinese Bank Suffers ‘Rare’ Bank Run, Police Arrest “Rumor-Spreaders”

    Chinese police questioned 27 people, detained 12 and “severely” reprimanded 15, over the spreading of gossip about Linshang Bank – a lender with 61 billion yuan ($9.1 billion) in deposits – which caused a rare bank run in Eastern China.
    The South China Morning Post reports that a few disgruntled employees at Shandong Sanwei Oil Group, an agricultural processing company, were unhappy after they were placed on leave when production lines were closed at the firm.
    The employees spread a rumour that the firm was collapsing with billions of yuan in unpaid loans and that it might also bring down Linshang Bank, the report added. The rumour spread quickly among residents, triggering a run on the local branch of the bank, according to the article. At one point more than 500 depositors gathered outside the branch demanding to withdraw their money.
    The bank said in a brief statement on its website that the spate of withdrawals at one of its branches in Linyi in Shandong province on Monday was caused by ‘a few individuals spreading rumours’ that the bank was in trouble.
    The lender urged the public ‘not to believe in or spread rumours to jointly maintain good financial order’.
    “In the face of rumors, we hope the public reacts rationally, does not believe in rumors, does not rumor-monger, to avoid harming their own interests.”

    This post was published at Zero Hedge on Aug 12, 2017.


  • Refugee Boats for Sale only $800 to Reach the Land of Plenty

    Alibaba is showing how entrepreneur the Chinese have become responding to a crisis in demand. You can now buy specially made refugee boat if you want to make it to tax-free living in Europe. Better hurry up while supplies last. No passport needed. Just say you are Muslim and from Syria but because of the war you have no papers. For just $800, you, your family or home-boys, can reach the land of handouts and you better hurry up before they go broke and run out of money.

    This post was published at Armstrong Economics on Aug 12, 2017.


  • Two of Mexico’s Biggest Bugbears Surge Again

    Footloose hot money that has flooded Mexico can quickly dry up.
    By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. After several consecutive months of predominantly positive developments, including the governing Institutional Revolutionary Party’s recent electoral victory in its key state, Estado de Mexico, the outlook for Mexico’s economy is no longer negative; it’s stable. That’s according to rating agencies, Fitch and Standard’s & Poor.
    It’s a remarkable turnaround for a country that began the year in the most ominous fashion, with a crumbling currency, surging inflation and a popular revolt against gasoline price hikes.
    But the peso, after plumbing to new depths of 22 pesos to the dollar on January 19, has clawed its way back to 17.8 pesos to the dollar – a 22% surge in just seven months.
    Despite its fortifying currency, Mexico’s historic bugbear of inflation continues to grow. Consumer prices, as measured by the national consumer price index, soared 6.44% in July compared to a year ago. It was the sharpest annual inflation rate increase since December 2008. It has now accelerated for the thirteenth month in a row.

    This post was published at Wolf Street by Don Quijones ‘ Aug 11, 2017.


  • Michael Kors Stock Won’t Be Revived by Desperate Acquisitions

    This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.
    Shareholders of Michael Kors Holdings Ltd. (NYSE: KORS) scored a windfall gain on Aug. 8 after the firm released its fiscal Q1 earnings numbers. They blew away estimates, and Michael Kors stock jumped 21%.
    If you are one of the loyal shareholders who rode this stock down from $59 in March 2016 to the recent low near $32, we suggest you take this gift. Sell these shares and move your money into something that is not going to be squashed in what Money Morning Capital Wave Strategist Shah Gilani calls the ‘Retail Ice Age.’
    The company must see the writing on the ‘ice wall’ too, as the high-end footwear and apparel maker recently acquired luxury shoe retailer Jimmy Choo for $1.17 billion.
    Some Wall Street analysts are pumping this up as a good move for the company. However, Gilani vehemently disagrees and expects the stock to resume its fall.

    This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ August 11, 2017.


  • UBS Explains Why The Next Credit Unwind Will Be Unlike Anything We’ve Seen Before

    Several weeks ago, Janet Yellen boldly declared “I don’t believe we will see another crisis in our lifetime.” For the rest of us who live in reality there is little doubt that the latest Fed-fueled credit bubble will eventually burst in epic fashion and once again lay waste to the personal balance sheets of millions of Americans. And while the timing of market collapses can never be predicted, UBS strategist Matthew Mish says there is one thing that is certain about the next credit unwind, it will be unlike anything we’ve seen before.
    To summarize, Mish notes that unlike previous credit expansion cycles, this current one has been dominated not by traditional banks but rather by non-bank lending entities and government backed loans, especially in riskier subprime residential, auto and student loans. Moreover, unlike traditional lenders, Government debt tends to be much slower to react to things like rising delinquency rates…you know, because it’s just taxpayer money so who cares.
    First, non-bank lending (as a share of net loan growth) has accounted for about two thirds of the total expansion, akin to prior cycles. However, the non-bank share has been elevated in residential real estate (at 101%), but depressed in commercial real estate (30%) versus history. Second, the role of federal credit support has been very material, with a significant 45% of net loan growth this cycle coming from government (or government guaranteed) loans. In particular, government backed loans (as a share of the debt stock) now comprise a record 63% of residential and 29% of consumer loans, respectively, up 9% and 18% from 2010. In nominal terms, non-government related net debt growth has been negative for retail loans in aggregate. Third, while the share of non-bank lending has held steady, their share of higher risk debt has increased substantially across many loan categories. Non-banks account for 58% of outstanding adversely rated (leveraged loan) commitments, roughly 75% of recently originated FHA mortgage loans, and over 85% of subprime student and auto loans. With some exceptions (think auto and student loans), Mish notes that overall non-financial debt growth has roughly mirrored past credit cycles.

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


  • Social Security requires a bailout that’s 60x greater than the 2008 emergency bank bailout

    / August 11, 2017
    A few weeks ago the Board of Trustees of Social Security sent a formal letter to the United States Senate and House of Representatives to issue a dire warning: Social Security is running out of money.
    Given that tens of millions of Americans depend on this public pension program as their sole source of retirement income, you’d think this would have been front page news…
    … and that every newspaper in the country would have reprinted this ominous projection out of a basic journalistic duty to keep the public informed about an issue that will affect nearly everyone.
    But that didn’t happen.
    The story was hardly picked up.
    It’s astonishing how little attention this issue receives considering it will end up being one of the biggest financial crises in US history.
    That’s not hyperbole either – the numbers are very clear.
    The US government itself calculates that the long-term Social Security shortfall exceeds $46 TRILLION.
    In other words, in order to be able to pay the benefits they’ve promised, Social Security needs a $46 trillion bailout.
    Fat chance.

    This post was published at Sovereign Man on Simon Black.