Gold Holds Long-Term Bearish Technical Pattern

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Spot Gold fell to around 1270 on Monday and extended the decline that began in early July. Before looking at the medium-term picture, let’s review the weekly chart for a long-term perspective. The first chart shows gold peaking around 1900 in September 2011 and quickly falling to the 1550 area. The metal then embarked on a long consolidation and broke support with a sharp decline in April 2013. Gold then moved into another consolidation that looks like a descending triangle, which is a bearish continuation pattern.

This post was published at GoldSilverWorlds on September 2, 2014.

Did US Macro Just Jump The Shark?

For the past five years there has been a very clear and significant cycle to US macro data – a slight rise to start the year, notable weakness into the middle of the year, a rapid recovery into the fall, then generally flat to year-end. A year ago, we explained this cycle appears to be created by government agencies need to spend, spend, spend their budgets out ahead of fiscal year-end (Sept).

This post was published at Zero Hedge on 09/02/2014.

The 60 Day Countdown Begins, Will This Lead To The False Flag Event? – Episode 457

The following video was published by X22Report on Sep 2, 2014
The manufacturing around the world starts to decline, meanwhile the US manufacturing is improving. Gold has been pushed down once again to give the illusion that the dollar and economy are strong. US Senator wants to take passports away from US fighters who fight in Syria. Ebola is hurting the economies of West Africa and pushing food prices higher. NATO soldiers reported fighting in Ukraine. Libya tribes have now taken over government buildings. Obama notifies congress of strikes in Armeli Iraq, this gives Obama 60 days to use military assets in the region. Afterwards he will need approval from congress, this time frame brings us to Oct-Nov. Islamic State has reportedly beheaded Sotloff in a new video. This is just another event to push the main event.

Precious Metals And Internationalization Are The Antidote To The Keynesian Endgame

When looking at today’s economic situation, it is amazing how the debt situation remains underexposed. It is truly the ‘elephant in the room’. In this article we will review the most recent economic data and what that data could mean for the coming years.
When asked about his view on the economic situation, Claudio Grass, managing director of Global Gold, answered with this quote from German economist Wilhelm Rpke:
‘The theories men construct, and the words in which they are framed, often influence their mind more strongly than the facts presented by reality’.
This sentence nicely describes today’s mindset amongst most people in the Western word since we are raised in amounts to a government-controlled educational system! We are not taught to question [authority]. The problem is that the actual system we live in focuses only on the effects but never discloses the underlying causes, let alone tries to connect the dots. This research needs to be taken upon by the individual. However, research requires a healthy portion of curiosity and bravery, as well as independence and self-confidence to stand up for one’s own opinion, which will be in contrast to the story we are told by governments and the mainstream media.
Linking this view to today’s economy, it goes without saying that anyone with a basic level of curiosity can find the following data:
The U. S. currently has total debts outstanding (incl. unfunded liabilites) which are close to 900% of its GDP. America hasn’t passed a budget since April of 2009. As a country, the U. S. has had a budget deficit in 42 out of the last 47 years. The U. S. has paid 14.8% of its yearly revenue to servicing its debt (interest payments).

This post was published at GoldSilverWorlds on September 2, 2014.

sept 2/raid on gold and silver/GLD loses another 1.8 tonnes of inventory gold/no change in silver/ Conditions inside Pakistan heating up/Escalation in the Ukraine vs Russia/Ebola spread/

Gold closed down $22.10 at $1263.70 (comex to comex closing time ). Silver was down 33 cents at $19.07
In the access market tonight at 5:15 pm
gold: $1265.00
silver: $19.19
GLD : a loss of .1.8 tonnes of gold (inventory now at 793.20 tonnes)
SLV : no change in silver inventory at the SLV/now 331.528 million oz
Every time we have a long weekend, the banksters whack gold and silver. They did not disappoint us again with their antics.
The game will end once China/Russia can no longer receive any physical gold and silver from the West.
Today we have commentaries concerning the Ukraine, Russia, Pakistan, China, Japan and the terror of ISIS and Ebola.
We will discuss these and other stories
So without further ado………………
Let’s head immediately to see the data has in store for us today.
First: GOFO rates/
All months basically moved slightly towards the negative needle. Again, they must have found some gold to lease..
London good delivery bars are still quite scarce.
Sept 2 2014
1 Month Rate: 2 Month Rate 3 Month Rate 6 month rate 1 yr rate
.082000% .1000000% .11800% .14600% .220000%
August 29.2014:
1 Month Rate 2 Month Rate 3 Month Rate 6 month Rate 1 yr rate
08800% .102000% .12000% .1500% .228000%
Let us now head over to the comex and assess trading over there today,

This post was published at Harvey Organ on September 2, 2014.

Consumer Spending in August Drops below a Year Ago – Gallup

Consumer spending, the key to the American economy, and by extension the global economy, is one of the most watched activities in the world, but results may vary, as they say, depending on who is doing the counting and what they’re counting.
The Gallup Daily tracking survey is one of those measures. The poll, based on telephone interviews of over 15,000 adults aged 18 and older each month, asks consumers the total amount they spent ‘yesterday,’ not counting normal monthly bills and the purchase of a home or a vehicle. It’s Gallup’s measure of discretionary spending. And the results for August weren’t exactly what everyone had hoped for.
American consumers reported spending on average $94 per day in August. That was flat from July, though in the prior two years, there had been a marked increase from July to August. And it was down from $95 a day in August 2013.
During the Great Recession, Gallup’s measure of consumer spending hit lows between $60 and $70 a day, but since then, spending picked up with fairly consistent year-over-year gains. In May this year, spending hit $98 per day, a new post-crisis record (before the crisis, consumers averaged above $100 per day!).

This post was published at Wolf Street on September 2, 2014.

The One Thing The Bank Of Japan Apparently Can’t Print More Of

First it was socialist utopia Venezuela and now Keynesian-economics favorite playground Japan is concerned about a troubling problem – fear of a toilet-paper shortage. As WSJ reports, the Ministry of Economy, Trade and Industry is encouraging families to stockpile at least one month’s worth of toilet paper in the event of a major disaster, as they “fear there would be a serious shortage of toilet paper nationally.” Ironic really, given Shinzo Abe’s past ‘problems’.
As WSJ reports, the government is using the day to advise families to stock up on toilet paper.

This post was published at Zero Hedge on 09/02/2014.

The Seven Year Cycle Of Economic Crashes That Everyone Is Talking About

Large numbers of people believe that an economic crash is coming next year based on a seven year cycle of economic crashes that goes all the way back to the Great Depression. What I am about to share with you is very controversial. Some of you will love it, and some of you will think that it is utter rubbish. I will just present this information and let you decide for yourself what you want to think about it. In my previous article entitled “If Economic Cycle Theorists Are Correct, 2015 To 2020 Will Be Pure Hell For The United States“, I discussed many of the economic cycle theories that all seem to agree that we are on the verge of a major economic downturn in this country. But there is an economic cycle that I did not mention in that article that a lot of people are talking about right now. And if this cycle holds up once again in 2015, it will be really bad news for the U. S. economy.
Looking back, the most recent financial crisis that we experienced was back in 2008. Lehman Brothers collapsed, the stock market crashed and we were plunged into the worst recession that we have experienced as a nation since the Great Depression. You can see what happened to the Dow Jones Industrial Average on the chart that I have posted below…

This post was published at The Economic Collapse Blog on September 2nd, 2014.

The Strong ‘Buy’ Signal In The Metals/Miners Got Stronger Today

One of the rules by which the elite aristocrats abide is they consider it rude to not issue a warning before they do something bad to us. They’re like criminals with manners. In other words, it’s gauche to flush the toilet while the serfs are in the shower without giving us a ‘heads up.’ – John Titus, engineer and attorney
What worries me the most in the midst of all of this geopolitical chaos going on right now is the message in this article written by Henry Kissinger and published by the Wall Street Journal: Henry Kissinger On The Assembly Of The New World Order.
The title alone in conjunction with the man writing it should be enough to frighten everyone into moving as much as they can OUT of the system and into precious metals. Kissinger must be seriously insane with the quest for complete global power to be consolidated into the hands of a few U. S. corporate and military complex elitists.
The foundation of his argument is based on the two assertions of ‘fact’ he makes which are probably the biggest lies ever told in the history of organized civilization:

This post was published at Investment Research Dynamics on September 2, 2014.

30 Million Americans On Antidepressants And 21 Other Facts About America’s Endless Pharmaceutical Nightmare

Has there ever been a nation more hooked on drugs than the United States? And I am not just talking about illegal drugs – the truth is that the number of Americans addicted to legal drugs is far greater than the number of Americans addicted to illegal drugs. As you will read about below, more than 30 million Americans are currently on antidepressants and doctors in the U. S. wrote more than 250 million prescriptions for painkillers last year. Sadly, most people got hooked on these drugs very innocently. They trusted that their doctors would never prescribe something for them that would be harmful, and they trusted that the federal government would never approve any drugs that were not safe. And once the drug companies get you hooked, they often have you for life. You see, the reality of the matter is that some of these ‘legal drugs’ are actually some of the most addictive substances on the entire planet. And when they start raising the prices on those drugs, there isn’t much that the addicts can do about it. It is a brutally efficient business model, and the pharmaceutical industry guards their territory fiercely. Very powerful people will often do some really crazy things when there are hundreds of billions of dollars at stake. The following are 22 facts about America’s endless pharmaceutical nightmare that everyone should know…

This post was published at End Of The American Dream on September 2nd, 2014.

Gold Seeker Closing Report: Gold and Silver Fall Nearly 2%

The Metals:
Gold dropped $24.54 to as low as $1262.76 by midmorning in New York before it bounced back higher at times, but it still ended with a loss of 1.72%. Silver slipped to as low as $19.093 and ended with a loss of 1.64%.
Euro gold fell to about 964, platinum lost $13 to $1406, and copper remained at about $3.15.
Gold and silver equities fell about 3% by late morning and remained near that level into the close.

This post was published at GoldSeek on 2 September 2014.

Gold Daily and Silver Weekly Charts – Cap, Cap, Pounce

Welcome to September. Ouch. The spotlight is now on silver, and less so on gold. Both metals took a hit that was fairly obvious starting late last night. I was surprised it did not go deeper. It is tough to make a real short term bullish case until we break this pattern of lower highs and lower lows. Big amount of silver get shoved around the plate at the Comex, so we will have to shift gears a bit and adjust to reports with much bigger numbers of ounces involved. Today was the first day. Let’s see how the rest of the month goes.

This post was published at Jesses Crossroads Cafe on 02 SEPTEMBER 2014.

China Will Revise Its GDP Definition Until Its Hits Government “Growth Targets”, Goldman Explains

Previously we have commented that when all it takes for a country to “hit” its GDP target, is to adjust said definition by adding the benefit of estimated ancillary items as prostitution and drugs, GDP loses all relevancy and meaning in its transformation to an arbitrary, goalseeked policy measurement and validation tool straight out of China’s Department of Truth. After all how else would the Spanish political kleptocracy boast the “favorable” impact of its disastrous policies if it wasn’t for a slew of recent definitional revisions. And yet, all throughout our commentary we were doing so tongue-in-cheek: after all, it is taboo for the very serious economists to discuss the hilarious systemic failures that allow their most prized indicator of “growth” to become a mockery of fringe tinfoil blogs.
At least, it was taboo until now, because moments ago, in an example of “very serious phrasing”, none other than the bank that does god’s work on earth (especially when it means providing off balance sheet financing for the bank of the Holy Spirit), just reported that the reason why China will hit its growth target is because of, drumroll, its fudged GDP. Only Goldman is far more serious when it says all of this, with the result being just too hilarious for words: to wit: “In the coming months, China’s National Bureau of Statistics is to make adjustments to the methodology used to calculate GDP. These adjustments are likely to boost real GDP growth by 0.1-0.2pp, thereby making it easier for the government to reach its goal of ‘around 7.5%’ GDP growth in 2014.“
But wait there’s more, because the biggest adjusted “contributor” to China’s economy will be the retroactive benefit from R&D that previously was treated as a cost rather than an “investment.” Yup:research and development, which in China has a different name: Piracy and Reverse Engineering, only R&D is sexier than P&RE.
Which brings us to the question of the day: have we finally gone full econotard? Or is changing the rules to hit your target, while fabricating the dumbest possible adjustments, now considered very serious economic policy?
Full note from Goldman Sachs, whose humor value is far higher than the author intended:

This post was published at Zero Hedge on 09/02/2014.

I Didn’t Believe the IRS Anyway

Lois Lerner’s emails are back from the dead – sort of. The former IRS official’s BlackBerry, however, is still long gone. The IRS intentionally destroyed it in June 2012 (after congressional staffers interviewed Lerner about the IRS targeting conservative groups) as the Deputy Assistant Chief Counsel acknowledged in a recent sworn declaration.
We’ve all met someone we just don’t trust but don’t know why. There’s often a pretty good reason to feel that way.
Has someone ever made an insincere attempt to flatter you? Their words might be complimentary, but their body language, tone, and/or context let you know the compliment is phony. Does this guy really think I’m that stupid?
So, up goes your trust wall. If he’ll lie about this, he’ll lie about anything.
The IRS debacle is a prime example of why we build trust walls. The emails Congress requested had (supposedly) been deleted when several hard drives crashed. I asked my colleague Alex Daley (our in-house technology guru) what the probability was of that happening. Here’s what he had to say:
Everyone who ever owned a computer knows that hard drives are finicky beasts. In fact, Google uses a LOT of hard drives and so they have published all kinds of research on their failure rates. The gist: there’s about a 1 in 36 chance a hard drive fails in any given month. The math says then that if the IRS was practicing good data center management practices – we have to assume, however silly it might seem, that the agency responsible for holding the most personal information on American citizens outside the NSA is following best practices – then the chance of seven hard drives failing at the same time and wiping out the data on them is about 1 in 78 billion.

This post was published at GoldSeek on 2 September 2014.

The Great U.S. Retirement Asset Bubble vs Physical Gold Investment

Americans are more deluded than ever as the total value of the U. S. Retirement Market hits a new record. According to the data released by the ICI – Investment Company Institute, total U. S. Retirement Assets in first quarter of 2014 are valued at a stunning $23 trillion, up from $22.7 trillion in Q4 2013.
Not only are U. S. Retirement Assets reaching new record highs, so is the sentiment by its member participants. This report put out by the ICI, ‘Our Strong Retirement System – An American Success Story’ stated:
Americans Report High Levels of Confidence in the 401(k) System
Americans have a very favorable view of the employer-sponsored 401(k) and other DC plans. Such confidence is a powerful indicator of the value American workers and retirees place on the 401(k) system.
In a survey of 4,000 households conducted for ICI in the winter of 2012/2013, 63% of respondents said that they have a ‘very’ or ‘somewhat’ favorable impression of 401(k) and similar retirement accounts (see figure below).38 That support rose to 76% among households that held a DC plan account or an IRA.39 Americans have expressed similarly positive views in surveys conducted since late 2008, despite the stock market decline from late 2007 to early 2009.
It’s nice to know that Americans have a HIGH LEVEL of confidence in their 401K plans. Thus, it makes perfect sense that they continue to invest their hard-earned fiat money into a system that promises them GOLDEN RETURNS. Unfortunately, Americans have no idea whatsoever that they are throwing good fiat money (if there is such a thing) into one of the GREATEST PONZI SCHEMES in history.
I assumed that it was mostly the middle-aged and older Americans that continued to invest in the retirement system. Why wouldn’t they? They see retirement not too far around the corner so it only makes sense to continue contributing.
However, Main Stream Media has also bamboozled the younger folks, as they too have taken the Paper Retirement Asset System….. HOOK, LINE and SINKER. Here is another wonderful piece of propaganda from the same report linked above:

This post was published at SRSrocco Report on Sept 2, 2014.

Did Someone Pay Google News to Run This Group of News Stories?

Am I supposed to believe that Google News’ ‘Editors’ Picks’ section is picked for any other reason than money? Consider today’s ‘hot’ stories about India’s world of computers.
I don’t know who in the United States would regard these stories as news. But I can well imagine that some PR guy hired by a group of programming firms in India could earn his salary this week by persuading his employers that this in some way will generate income for the Society of Indian Programmers, or some such trade association.
This group of stories appeared about 4:30 a.m., EDT. It was gone by 5 a.m. So, hardly anyone saw these ‘picks.’ If some schnook in India paid money for this, he should be fired.
I look at this section of Google News every day with this question in mind: ‘Who have the folks at Google persuaded to pay good money to run stories in ‘Editors’ Picks’ today?’ This is because I cannot imagine blocks of stories like this being picked by editors for any reason other than cold, hard, digital cash.
Maybe MSNBC is overlooking a source of much-needed revenue

This post was published at Tea Party Economist on September 2, 2014.

The Eurozone Could Be A Problem For Stocks

A few weeks ago I asked a simple question: “Can The U. S. Economy Stand Alone?”
“The following chart is food for thought. There are extremely high expectations that the U. S. economy will achieve ‘lift off’ in terms of economic growth eventually achieving 3-4% annualized growth rates. The chart below shows the nominal GDP of the Eurozone and U. S.”

Is it possible, that in globally interconnected economy, the U. S. can stand alone?

This post was published at StreetTalkLive on 02 September 2014.

SP 500 and NDX Futures Daily Charts – Bubble On Through M&A’s and IPO’s

Stocks had a bit of a roller coaster ride today, with techs trying to take the lead on the upside. The markets are sloughing off quite a bit of exogenous risk. But that ought not to surprise us, because that is almost the very definition of a bubble in assets. The fundamentals and realities are ignored, as pieces of paper become increasingly traded on their own without regard to risks. September is going to be marked by the biggest IPO ever. The much awaited Alibaba will be rolling out between now and about September 20. The wiseguys are also going to taking a lot of M&A activity out of the trunks and planting them in the killing fields of a toppy market. Why not? Whether you are paying with cash or stock, your currency is debased. So barring any untoward events I would expect the markets to muddle through to the latter part of September, and then get set up for some sort of correction into October. It will probably not be severe, again unless it is driven by some geopolitical events, because of the midyear elections coming up. Unless of course the financiers decide to engage in some mild form of coup d’tat…

This post was published at Jesses Crossroads Cafe on 02 SEPTEMBER 2014.

Summarizing Morgan Stanley’s Entire “S&P At 3000 In 2020″ Report In One Sentence

Do you believe in miracles? Morgan Stanley’s Adam Parker does, having given up on his sane bearish case long ago, he now predicts S&P to 3,000 because “if we get EPS growth of 6% per year from 2015-2020, that would drive S&P 500 earnings to near $170; a 17x multiple would translate into a peak level for the S&P500 near 3000 under this scenario.” So, just some simple math, eh? But he does add, “of course, no one can predict unforeseen shocks to the economy,” but they will never happen, right?

This post was published at Zero Hedge on 09/02/2014.

Presenting the most pitifully capitalized central bank in the West [Hint: It’s NOT the Fed]

En route to South America
As the world’s top central bankers gathered at their annual jamboree recently, the governor of Bank of Canada, Stephen Poloz, undoubtedly received envious comments from his fellow money magicians for Canada’s perceived status as a global financial safe haven.
This newly found perception was perhaps best exemplified during a Bloomberg interview, when the CEO of RBC Wealth Management – the biggest financial institution in Canada said that ‘Canada is what Switzerland was 20 years ago, and the banks in Canada are what Swiss banks were 20 years ago.’
This is the new flavor of Kool-Aid. Canada is seen as the new banking safe haven and an ‘island of safety and stability’ because of its perceived sound fiscal position, commodity wealth and solid economic performance.
Now, anytime I see central bankers slapping each other on the back, I’m going to be skeptical. But here at Sovereign Man, our conclusions are all data driven… so we dove into the numbers.
First, the Big Daddy himself – Canada’s central bank.
Any strong, healthy banking system requires a central bank with a pristine balance sheet… specifically, substantial net equity as a percentage of assets.
So how strong is the balance sheet for Banque du Canada?

This post was published at Sovereign Man on September 2, 2014.