When we started The Dollar Vigilante in 2010 we stated that the worldwide central banking fiat money system would collapse within the decade.
It was just math. Government debt continues to mount and the only way to pay interest on the debt is to print more money. The US government, alone, has doubled its debt in the last eight years, from under $9 trillion to now well over $19 trillion.
Almost every Western government has done similarly and central banks continue to print money to make the dead system seem like it is still alive.
Early in 2015 we caught on to an occult (hidden) timeline by which major financial events occur called the Shemitah, and the year after called the Jubilee (or Super Shemitah). On the end day of the once-every-seven-year Shemitah, in 2015, we wrote, ‘Eurozone Collapses, Borders Erected Across Europe On Shemitah End Day’.
A few accused us of making a mountain out of a mole hill. They said, to paraphrase, ‘This is just a temporary issue related to the refugees, it’ll be fixed soon and the EU will be back to normal.’ We, on the other hand, stated that we expected the EU to be in tatters by the end of the Jubilee Year (October 2, 2016).
And look at what has happened.
The so-called ‘refugee crisis’ has been the most talked about thing in Europe for the last year. Massive chaos and terror attacks (although many were false flags) carried out, and countless figures in politics have said the EU is over. Philippe Legrain, a former economic adviser to the president of the European Commission, admits what is common knowledge in an article for Project Syndicate.

This post was published at Dollar Vigilante on AUGUST 11, 2016.

Welcome To The Conversation: The BREAKDOWN Is Now Reaching Main Street

The BREAKDOWN of the U. S. Market is now reaching Main Street. While the Fed and Central Banks continue to prop up the markets by purchasing Stocks, Bonds and everything including the kitchen sink, Americans are feeling the pain in many ways.
I discussed this with Financial Industry expert Vic Patane. Vic discussed how the signs of the breakdown were taking place all around his neighborhood. I would imagine readers and listeners of the SRSrocco Report have their own experiences of this breakdown in their neighborhoods as well. Please feel free to share these first-hand experiences or opinions about the material discussed in the Conversation below:

This post was published at SRSrocco Report on August 11, 2016.

The Olympics: An Olympic-Sized Scam

The only thing people are asking me more right now than, ‘Who are you voting for?’ is ‘Are you watching the Olympics?’ The answer to both questions is: I couldn’t care less about it. Now, I know that slamming the Olympics is tantamount to blaspheming the false god called World Feel Good, but it needs to be taken down a peg or two and put back where it belongs. Which is, right there on the ‘one off’ channels with championship bowling, disco roller-skate dance-offs, and the World Series of Darts. Except darts holds more interest for me than the Olympics.
Check out the big squishy world liberals regaling us with tales of world solidarity and sportsmanship right there in one of the world’s most impoverished cities. I read one Olympic athlete has already been rolled for his wallet there. These world liberals are the same folks laying guilt trips on us because not enough is done to help the world’s poor. Ok, well, did any of you geniuses figure out that if, instead of having a gigantic festival of government-sponsored athletic ego-stroking, you lifted the poor of Brazil up with that cash, then you’d have at least solved poverty there? No, of course not. Because governments would never allow that, for one thing. Why?
Look, ever since the Third Reich discovered what a great propaganda machine the Olympics could be, governments have been using them for self-aggrandizement thereafter. Excuse me, but does anyone remember the good old days when the United States got into an Athlete Race with the former Soviet Union? An Arms Race, Space Race, and a Doomsday Race weren’t enough for the government that had everything. No, we needed a Sports Race, too. Remember how if the United States threw enough money at an Olympic Team and they managed to defeat a Soviet team, America acted like we’d just won a war with them and only suffered a hangnail in doing so?

This post was published at Lew Rockwell on August 11, 2016.

Manipulation: The Phony Job Recovery

Last Friday saw the release of a bombshell jobs report, with headlines exclaiming that the US economy added over 250,000 jobs in July, far in excess of any forecasts. The reality was far more grim. Those ‘jobs’ weren’t actually created by businesses – they were created by the statisticians who compiled the numbers, through the process of ‘seasonal adjustment.’ That’s a bit of statistical magic that the government likes to pull out of its hat when the real data isn’t very flattering. It’s done with GDP, it’s done with job numbers, and similar manipulation is done with government inflation figures to keep them lower than actual price increases. In reality there are a million fewer people with jobs this month than last month, but the magic of seasonal adjustment turns that into a gain of 255,000.
Delving further into the jobs report, we see that many of the jobs that were supposedly created were jobs in government and health care. Government jobs, of course, are paid for by siphoning money away from taxpayers. And health care jobs are increasingly created solely because of the ever-growing mandates of Obamacare. Other major sources of job growth were temp jobs and leisure & hospitality (i.e. waiters and bartenders). These aren’t long-lasting jobs that will contribute to economic growth, they are mostly just jobs that cater to the tastes of the well-to-do who continue to benefit from the Federal Reserve’s easy monetary policy.

This post was published at Ludwig von Mises Institute on Aug. 11, 2016.

Demographic ‘Death Cross’ Looms As World “Plague” Of Elderly Population Grows

The number of countries where the elderly outnumber the young is on the rise…

What began in 1995 in a single country, Italy, will spread globally to economies as diverse as New Zealand and Georgia, by 2030. As Joseph Chamie – an independent consulting demographer and a former director of the United Nations Population Division – details, by 2030, 56 countries will have more people aged 65 and over than children under 15.
As Bloomberg reports, the former UN head demographer compared population projections of kids under the age of 15 to that of people aged 65 and over. It’s not just industrialized nations like Japan and Germany succumbing to the age curse. The turning point will take place in 2020 in the Cuba and South Korea, followed five years later in Thailand and the U. S.

This post was published at Zero Hedge on Aug 11, 2016.

Gold Daily and Silver Weekly Charts – Late Day Selloff – Risk On But Stronger Dollar

Apparently the Street is looking for a good Retail Sales number tomorrow because it will include Amazon’s ‘Prime Day’ promotion.
Gold and silver were hit by some selling later in the day on apparent dollar strength and a risk on attitude in the equities.
PPI and retail sales results tomorrow.
The Reserve Bank of NZ cut its key rate by 25 bp to 2%.
Singapore has cut the high end of its 2016 GDP forecast.
The Reserve Bank of Australia may be cutting its key rate to 1% over the next 12 months, and will be considering ‘unconventional stimulus’ to counteract a lagging economy.

This post was published at Jesses Crossroads Cafe on 11 AUGUST 2016.

Profits Plunge, Sales Drop at Macy’s. Slashes Jobs, Closes Stores. Stock Jumps 18%

Brick-and-mortar retail sinks artfully into coma.
It’s been a tough quarter for Macy’s. Again. Sales dropped 4% to $5.87 billion in the second quarter, it reported today. It had already closed 41 ‘underperforming Macy’s stores’ in its fiscal year 2015. So among the remaining company-owned stores, comparable sales fell 2.6%. Operating income plunged 73% to $117 million. Net income plummeted 95% to a nearly invisible $11 million, or 3 cents a share.
The first quarter, on a year-over-year basis, was even worse. So for the first half, sales dropped 5.7%, operating income 53%, and net income 82%.
‘We are encouraged by the distinct improvement in our sales and earnings trend in the second quarter,’ is how CEO Terry Lundgren explained the red-ink phenomenon. He even gave credit to ‘a normalized weather pattern’ – rather than blaming the weather, as is normally the case. And tourist spending dropped again, but less than before.
Then came the music to Wall Street’s ears.

This post was published at Wolf Street by Wolf Richter ‘ August 11, 2016.

Obama’s Administration Collected $20 Trillion In Taxes And Still Increased National Debt $9 Trillion

During the 90 months that President Obama has been in office, the federal government collected a total of $19,966,110,000,000 in tax revenues (in non-inflation-adjusted dollars) and still managed to drag the country into almost 9 trillion dollars of new debt, according to the Monthly Treasury Statements.
There is no better example of how big government ruins prosperity than the numbers above.
Siphoning such enormous sums of wealth out of the economy only leads to the government mishandling and misallocation of what would otherwise be well spent or well-saved wealth for individual American’s who are on average struggling to get by financially.
From CNS:

This post was published at Zero Hedge on Aug 11, 2016.


Gold:1342.80 DOWN $1.80
Silver 19.98 DOWN 15 cents
In the access market 5:15 pm
Gold: 1338.75
Silver: 19.95
Something is bothering our crooked bankers as they continue their raid on both gold/silver in the non physical time zones. Gold rises until 4 am est when Shanghai and London do their precious metals fix. The metals then trade southbound until 10 am est, the second London fix. When London is put to bed, then the crooks raid as we are out of the physical zone. No doubt the high amount of gold standing for August is troubling them, the high amount of gold OI standing for September and the high amount of open interest standing for silver is also troubling to the bankers.
For the August gold contract month, we had a small sized 34 notices served upon for 3400 ounces. The total number of notices filed so far for delivery: 11,679 for 1,167,900 oz or tonnes or 36.326 tonnes. The total amount of gold standing for August is 43.9 tonnes.
In silver we had 0 notices served upon for nil oz. The total number of notices filed so far this month: 274 for 1,370,000 oz.
Let us have a look at the data for today.
In silver, the total open interest ROSE BY A LARGE 1,545 contracts UP to 212,192 YET STILL CLOSE AN ALL TIME NEW ALL TIME RECORD AS THE PRICE OF SILVER ROSE BY 32 CENTS WITH YESTERDAY’S TRADING. In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.060 BILLION TO BE EXACT or 151% of annual global silver production (ex Russia &ex China).
In silver we had 0 notices served upon for nil oz
In gold, the total comex gold FELL 1051 contracts as the price of gold ROSE by $5.30 YESTERDAY. The total gold OI stands at 574,348 contracts.
With respect to our two criminal funds, the GLD and the SLV:
we had no changes in GLD/
Total gold inventory rest tonight at: 972.62 tonnes
we had no changes in the SLV, / THE SLV/Inventory rests at: 351.765 million oz.
First, here is an outline of what will be discussed tonight:

This post was published at Harvey Organ Blog on August 11, 2016.

The US Government Economic Recovery Propaganda Has Been Exposed – Episode 1046a

The following video was published by X22Report on Aug 11, 2016
Greece just sold its largest port to China. Macy’s closes 100 stores, retail continues to contract. Obama says wages are growing, but a recent revision in wages shows they are declining. The Federal Tax receipts are as low as 2008 right before the crash, unemployment at 4.9% I think not. Gold demand reaches record highs in the first half of 2016. Obamacare on the verge of collapse.

What Do They Know That We Don’t? World’s Billionaires Are Stockpiling Cash: ‘Taking Money Off the Table’

When things risk going wrong, cash is king… and kings have cash.
And with enormous fortunes being made – and destroyed – overnight.
The world’s billionaires have shifted into stockpiling an average of 22% of their income in cash because they are terrified the economy could crash.
Many of these people literally helped to build the system we all now rely upon, and now they are holding cash, gold and other assets our of fear that stocks will crash and digital instruments of wealth could be undermined, compromised or have their balance destroyed.
via CNBC:

This post was published at shtfplan on August 11th, 2016.

Brace Yourselves, America: The Next Huge Housing Bailout Could Be Coming

The failures of government intervention in the economy have made headlines yet again. Recent stress tests by theFederal Housing Finance Agency found something sinister brewing under the surface at notorious mortgage giants Fannie Mae and Freddie Mac. The results show that these puppet companies could need up to a $126 billion bailout if the economy continues to deteriorate.
That’s right – the two companies that were taken over by the government and that sucked $187 billion from the treasury could be entitled to more taxpayer money. The toxic home loans bought during the last crisis coupled with a lack of liquidity have suddenly become serious risk factors. The so-called ‘recovery’ that has been trumpeted for years by countless politicians and economists is falling apart in plain view. The media will do just about anything to assure the public that this is all isolated and overblown, but the canary in the coal mine has just dropped dead.
The tests ran a scenario eerily similar to warnings we’ve heard about what the economic future might hold:

This post was published at Zero Hedge on Aug 11, 2016.

An Interesting Development For Gold and All Other Markets

Over the past two weeks, ZeroHedge has chronicled another dramatic rise in the TED Spread. What does this mean and what might this portend for gold? Hmmm…those are excellent questions.
The latest post from ZH on this issue was published this morning and I strongly encourage you to review it before you go any further:And what is the TED Spread? Here’s a very simple and straightforward explanation from Wikipedia:

To simplify it even further…a higher TED Spread has, in the past, often been an indicator of short-term funding stress or credit risk. Again, from Wikipedia, this:

This post was published at TF Metals Report on Thursday, August 11, 2016.

Business in the Front, Party in the Back

Since it’s ungodly slow right now and there’s very little to talk about from a market perspective, I’ll tell you about a very important life lesson… that I learned 25 years later.
I was a pretty good tennis player in high school. I didn’t accomplish much during freshman year, playing exclusively on the JV team, but I felt like I was ready to make the varsity team in my sophomore year.
If you’ve ever played tennis on a high school or college team, you probably had to contend with a ‘ladder’ – basically, the coach would rank everyone on the team from 1 through 25, and the top nine guys would play varsity. For example, if you were ranked 13, you could beat the number 12 guy, the number 11 guy, the number 10 guy, and the number 9 guy, and then you could get on the varsity team.
So during sophomore year, I showed up to the first practice and looked at the ladder. I was ranked 24 out of 25.
Ridiculous. I was clearly a better player than that. Objectively speaking, I was much better than that. I complained to the coach, but he told me if I thought I was that good, I just had to beat all the guys on the ladder ahead of me, and then I could play varsity.
Fine, I said, and accepted the challenge.

This post was published at Mauldin Economics on AUGUST 11, 2016.

One Year Later, This Is What Would Prompt Another “Risk-Parity” Blow Up

One year ago, in the aftermath of last August’s ETFlash Crash, we wrote about the risk of “violent, sharp and unexpected market moves” tied to the delevering of “risk parity funds” (see our post entitled “This Is What The Historic “Risk Parity” Blow Up Looked Like“). For those unfamiliar with the term, we previously described a risk parity fund as “a cross-asset portfolio allocation model that assigns weights inversely proportional to volatility and typically prescribes being overweight fixed income assets and underweight equities” – the best, and biggest, example of a risk parity fund is Bridgewater’s $70 billion “All Weather” fund.
For equity markets, the risk associated with risk parity funds is their programmatic nature and the sheer amount of levered capital allocated to the strategy which can result in substantial selling pressure when risk measures exceed pre-defined parameters. As BofA pointed out about a year ago, volatility swings in August 2015 likely resulted in $28 – $48 billion in equity selling pressure from risk parity funds alone resulting in a massive equity selloff that wiped out the YTD performance of a couple of prominent hedge funds.

This post was published at Zero Hedge on Aug 11, 2016.

The Limits of a Southern European Alliance

Forecast In the wake of the Brexit referendum, EU member states are searching for regional solutions to Continental problems, an approach that will make it more difficult for the bloc to reach a consensus. Although Southern European countries share similar views on Continental integration, domestic interests, and constraints will keep them from forming a coherent group. Because of its status as both a Mediterranean and Northern European country, France will be trapped in the middle of conflicts between Europe’s north and south, putting increasing strain on Paris’ alliance with Berlin. Analysis Only seven weeks after British voters elected to leave the European Union, the bloc has begun to fracture along regional lines. According to Greek media reports, the government in Athens is attempting to organize a summit of Southern European countries in early September, just days before a scheduled EU-wide conference in Bratislava. So far, Greece has sent invitations to the leaders of France, Italy, Spain, Portugal, Cyprus and Malta.

This post was published at FinancialSense on 08/11/2016.

Before And After: How The BLS Crushed The “Rising Wage Recovery” With One Revision

Over the past year, many pundits built theoretical models, using BLS “data” according to which the gradual rise in US wages and salaries was indicative of a slowly, if surely growing economy. And then, two days ago, all these models imploded in a supernova blast thanks to four years of government data revisions, which obliterated the “rising wage recovery” narrative with one spreadsheet.
We covered this yesterday in a post titled “BLS Just “Revised” Away Obama’s “Fastest” Wage Growth Since The Crisis” in which we mocked the “stunning “accuracy” and “consistency” of economic propaganda data being reported by our government agencies” revealing how the Bureau of Labor Statistics yesterday reported a massive downward revision of the 1Q 2016 YoY real wage growth from 4.2% to -0.4% (a 4.6% swing). The bigger problem is that the revision also destroyed, or rather exposed, Obama’s recovery fiction, as presented in a February 2016 press conference, in which he said the following:

This post was published at Zero Hedge on Aug 11, 2016.