Caught On Tape: Man Steals $1.6 Million Bucket Full Of Gold In Midtown Manhattan In Broad Daylight

Police released footage on Tuesday of what may be the luckiest theft in recent history. In the clip, a man brazenly swipes an 86-pound bucket full of gold worth $1.6 million from the back of an unattended armored truck on West 48th Street in the Diamond District on Sept. 29, in broad daylight, as tourists and locals were walking in and out of the jewelry stores that line the block.
The footage, first obtained by NBC 4 New York showed the man capitalizing on a 20-second window left open by the guards, one of whom was making a pickup while the other was walking to the front seat. The suspect allegedly cased the open Loomis International truck as it parked outside 48 W. 48th St., near Sixth Avenue. Realizing no one was looking, he then grabbed a black 5-gallon bucket carrying 86 pounds of gold flakes bound for Ontario and ran away with it in his arms, police said.

This post was published at Zero Hedge on Nov 30, 2016.

Steven Mnuchin Roils Bond Markets With Suggestion Of 100 Year Treasury Bond

Barely having confirmed he will be Donald Trump’s nominee for Treasury Secretary, Steven Mnuchin proceeded to roil the bond market when the former Goldman banker told CNBC he would look at extending the maturity of future Treasury issuance, hinting at 50 and 100 Year bonds, which promptly sent long-term US bond yields surging by the most since the turmoil following Trump’s election victory.
30-year Treasury yields spiked as much as 12 basis points to 3.06%, after Mnuchin said ultra-long bond sales would be considered. His comments also pushed 5s30s curve from a session low 115bps to above 122bp in just over an hour, rapidly steepening the curve, as the 30Y yield rose as much as 14bp to within 1bp of its YTD high.
While losses were later pared in the 3pm index rebalancing, the selloff capped the worst month for US Treasuries in more than five years, driven by gains for stocks and expectations Trump presidency will bring wider deficits, higher inflation and Fed rate increases

This post was published at Zero Hedge on Nov 30, 2016.

Exposing The Hoax That If The Stock Market Rises The Economy Is Doing Well – Episode 1140a

The following video was published by X22Report on Nov 30, 2016
Australian housing market completely implodes on itself. ADP reports more individuals getting jobs after a revision. The jobs are not manufacturing but service sector jobs. House hold debt hits 12.4 trillion as delinquencies rise. Pending homes sales fall as rates rise. Mortgage apps and refinances decline. Negative interest rates does not benefit the people. Young Senator shows the government wastes money on ridiculous projects. Exposing the hoax of a strong stock market does not translate into a strong vibrant economy. OPEC makes deal to cut oil production, which means oil prices will be rising.


Gold at (1:30 am est) $1170.80 DOWN $17.10
silver at $16.41: down 25 cents
Access market prices:
Gold: 1188.50
Silver: 16.62
The Shanghai fix is at 10:15 pm est last night and 2:15 am est early this morning
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.
And now the fix recordings:
WEDNESDAY gold fix Shanghai
Shanghai morning fix Nov 30 (10:15 pm est last night): $ 1213.66
NY ACCESS PRICE: $1190.80 (AT THE EXACT SAME TIME)/premium $22.86
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1210.24
China rejects NY pricing of gold as a fraud
London Fix: Nov 30: 5:30 am est: $1187.40 (NY: same time: $1188.90 5:30AM)
London Second fix Nov 30: 10 am est: $1178.10 (NY same time: $1178.10 10 AM)
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.

This post was published at Harvey Organ Blog on November 30, 2016.

Crunch Time for ‘Zombie Bank… on Brink of Collapse’

Short-sellers have a field day with Spain’s ‘Most Italian Bank’
By Don Quijones, Spain & Mexico, editor at WOLF STREET.
Things have gotten so serious at Spain’s sixth biggest bank, Banco Popular, that The Wall Street Journal just christened it ‘Spain’s most Italian bank.’ It wasn’t meant as a compliment.
These days the bank’s second biggest block of shareholders are short-sellers. They include some of the biggest hedge funds on the planet, from UK-based Oxford Asset Management, which holds a short position of 0.53% of the banks’ total shares, and Marshall Wace (2.23%) to Connecticut-based behemoth AQR Capital Management (2.92%).
As of Nov 25, short-sellers held 8.6% of the bank’s capital. It was enough to attract the unwelcome attention of Spain’s market regulator, CNMV, which has so far refused to ban shorting of the stock but has launched an investigation into whether a group of insiders led by Mexican billionaire Antonio Del Valle is using underhand tactics to cheapen the stock in preparation for a takeover bid.
It’s certainly the largest short position the bank has ever faced and over four times the accumulated short positions at rival institutions like Banc Sabadell. It’s also just one percentage-point short of eclipsing the total holdings of the bank’s biggest shareholder, Sindicatura de Accionistas, which represents some 5,000 investors, including the powerful religious order, Opus Dei.

This post was published at Wolf Street on November 30, 2016.

When The First Small Piece Of Shit Finally Sticks…

the looming reality crisis facing Mario Draghi over his actions (or inactions) about potentially devastating losses at Italy’s largest bank, and now we have another update as more questions are being asked.
Via GolemXIV,
So could it really be that after years of stonewalling, Draghi, the ECB and the cabal of central bankers and regulators, are finally being dragged blinking in to the light?
Funny how so often the biggest most powerful criminals, the untouchables, are brought down by the smallest of their crimes. The one they thought so beneath them they never bothered to think about it.
Like Al Capone indicted for tax evasion.

This post was published at Zero Hedge on Nov 30, 2016.

Zimbabwe’s New ‘Zombie Money’ Bank Notes May Resurrect Hyperinflation

The southern African Republic of Zimbabwe knows all about currency crisis. In 2009, the country was forced to stop printing its own currency because inflation levels had grown to astronomical proportions. At its highest levels during 2008 and 2009, Zimbabwe’s inflation rate was estimated to have reached 79.6 billion percent. Eventually, the struggling republic was forced to abandon its own currency and cease the runaway hyperinflation. In turn, it adopted others like the South African rand, the euro, and the pound just to keep the economy functioning, according to Bloomberg.
Last week the Reserve Bank of Zimbabwe released a statement announcing the distribution of new dollar-backed bond notes to help with a currency shortage, which is creating a lag in payments to civil servants, military personnel, and employees of private businesses.

This post was published at Schiffgold on NOVEMBER 30, 2016.

Gold Suffers Sharp Decline as Oil Jumps

Gold bullion again gave back a $10 overnight pop on Wednesday in London, falling back to last week’s finishing level at $1183 per ounce for the third session running as world stock markets rose and oil prices jumped on rumors of an Opec output cut.
Western government bond prices slipped, driving 10-year US Treasury yields back above 2.34% to extend their third fastest month-on-month rise of the last decade following Donald Trump’s victory in the US presidential election.
Trump announced on Twitter today that he will hand all control of his business empire to his children and advisors in mid-December, apparently responding to growing criticism over the conflicts of interest due to start with his presidency on 20 January.
Crude oil prices meantime jumped as much as 8% – briefly trading above $50 per barrel of Brent for the first time in a week – on news-wire reports that the Opec cartel of major producer nations is close to agreeing a cut to output in a bid to stem the half-decade slide in energy values.

This post was published at FinancialSense on 11/30/2016.

Here Is OPEC Production Cut Table, And It Has An “Error”

Shortly after the conclusion of today’s Vienna meeting, OPEC released the following table which lays out the breakdown of what the current reference production level is by nation, as well as the proposed adjustment to get to a 1.2 million barrel per day reduction, as well as the “pro forma” production number that will be effective on January 2017.
Two quick observations.
As noted previously, Indonesia is no longer in OPEC after it “suspended” its membership, effectively giving it full right to pump as much as it wants relative to its most recent October baseline production level of 722K per the OPEC monthly book. The reason for Indonesia’s departure, according to the Nigeria oil minister, is that it was “unable to contribute a large enough cut.”

This post was published at Zero Hedge on Nov 30, 2016.

Fannie, Freddie Soar After Mnuchin Comments (Duke Nuchin?)

Trump’s choice for Treasury Secretary, former Goldman Sachs partner and film producer (American Sniper and Mad Max: Fury Road), said that mortgage giants Fannie Mae and Freddie Mac should be released from the grip of the Federal government.
If Mnuchin does make inroads into releasing Fannie Mae and Freddie Mac into the wild (or shut down), he will probably be nick-named ‘Duke Nuchin.’ Or ‘The Munchkin,’ I haven’t decided which, depending on what he is intending.
(Bloomberg) -By Kasia Klimasinska and Felice Maranz- Fannie up as much as 33% to highest intraday since Aug. 2014; Freddie up as much as 32%, also highest since Aug. 2014, after Steven Mnuchin, Donald Trump’s choice for Treasury secretary, says FNMA, FMCC should exit government’s grip, didn’t appear to mimic Republicans who’ve said they should
be wound down or eliminated.

This post was published at Wall Street Examiner on November 30, 2016.

Russia Refuses To Disclose From What Level It Will Cut Production; Will Cut “Only Gradually Due To Technical Issues”

Today’s “OPEC deal” snowjob continued with the statement by Russian energy minister Novak, who moments ago have a press conference in which he praised the production cut conclusion, however, two key aspects of Russia’s contribution to the non-OPEC stood out.
First, the energy minister said that Russia would cut production “only gradually because of technical issues”, and he also refused to note from what level Russia production will be cut. The last is important, because in the past week Russia hinted that instead of actually cutting from a historical reference level, it would “cut” from a level proposed in its 2017 budget, all of which are higher than the October, or November, levels.

This post was published at Zero Hedge on Nov 30, 2016.

Charts at the Market Close on ‘Hump Day’ – Don’t Worry Baby

“Sanders laid out the dilemma facing the Democratic Party. The Democrats must find their way back to a connection with ordinary people, and this will require a complete change in the way they do business. He’s convinced that the huge expenditure of time and mental effort the Democrats put in to raise more than $1 billion for the Clinton campaign in the past year ended up having enormous invisible costs…
‘I’ve seen it for years. I’ve seen a media, which has basically ignored the declining middle class, that doesn’t talk about poverty at all, and has no sense of what is going on in the minds of millions of ordinary Americans. They live in a bubble, talk about their world, worry about who’s going to be running 18 years from now for office. Meanwhile, people can’t feed their kids. That’s something I knew.
Talking about those issues, seeing that they resonated, that did not surprise me. How quickly they resonated did surprise me. How weak the Democratic establishment was, and how removed they were from the needs of ordinary people, that also surprised me.’”
Matt Taibbi, Bernie Sanders On Where We Go From Here
“There are two kinds of truth: the truth that lights the way and the truth that warms the heart. The first of these is science, and the second is art. Neither is independent of the other or more important than the other. Without art science would be as useless as a pair of high forceps in the hands of a plumber. Without science art would become a crude mess of folklore and emotional quackery. The truth of art keeps science from becoming inhuman, and the truth of science keeps art from becoming ridiculous.”
Raymond Chandler
The economic news came in ‘better than expected’ this morning with Chicago PMI and the ADP Employment change beating estimates in particular.

This post was published at Jesses Crossroads Cafe on 30 NOVEMBER 2016.

Goldman’s President Gary Cohn Said To Be Considering Departing Firm

Just a day after Goldman COO Gary Cohn unexpectedly met with Donald Trump, he is now said to be “weighing a future outside the firm” the WSJ reports. According to Dow Jones, the bank’s “Number 2”, who met with Trump on Tursday, has had conversations in recent months about leaving the bank.
As reported yesterday, Cohn, who has been CEO Blankfein’s top deputy for a decade, met with Donald Trump Tuesday. It isn’t clear whether the president-elect is considering Mr. Cohn for a position; Politico reported Wednesday that Mr. Cohn could be a contender to head the Office of Management and Budget. A possible position in the Trump administration comes at a time when Mr. Cohn’s role at Goldman has already been in question. The 56-year-old president and chief operating officer has had conversations in recent months about leaving the bank, according to people familiar with the matter.
As second-in-command, Mr. Cohn oversees Goldman’s daily operations. He joined Goldman in 1990 and became a partner in 1994 – a class that also included Mr. Trump’s nominee for Treasury Secretary, Steven Mnuchin.
Mr. Cohn’s background reflects the sort of Midwestern voters who helped power Mr. Trump to a surprise victory. Born in Ohio the son of an electrician, Mr. Cohn’s first job was selling window frames and aluminum siding in Cleveland, and he later sold silver on Wall Street.

This post was published at Zero Hedge on Nov 30, 2016.

And the December Gold and Silver Contract ‘Deliveries’ Begin

For the first day of December, 493,800 ounces of gold have been taken for delivery at 1187.50. This represents a nominal first day delivery value of $586,387,500.
The ‘big customer’ at Goldman and the house account at Macquarie continue to disgorge their gold positions, in size, through the delivery process.
The buyers of these positions are the house accounts at HSBC, Nova Scotia, and JP Morgan, in addition to the big ‘customer’ at Morgan.
As for silver, the big deliverers of the December contract positions were customers at Goldman and Intl FCStone, and a smaller amount from the house account at Nova Scotia.

This post was published at Jesses Crossroads Cafe on 29 NOVEMBER 2016.

Nancy Pelosi Retains House Minority Leadership Position

After what many described as a long-shot effort by Democratic representative Tim Ryan of Ohio to unseat Nancy Pelosi as House minority leader, the results of the Democrat secret ballots are in and reveal that, indeed, he fell well short. Alas, it seems as though only 63 House Democrats learned anything from the 2016 Presidential election cycle.
Of course, Ryan launched his bid to unseat Pelosi based largely on the premise that Rust Belt voters in the Midwest abandoned the democratic party in 2016 precisely because of the elitism exhibited by the San Francisco liberal. While Pelosi is well known for her ability to raise substantial amounts of cash for the democratic party, $141 million in the past cycle alone according to The Hill, Ryan has argued that electing a House leader with a broader appeal is far more important.
While Ryan likely drew support from a host of young House democrats who have been prevented from rising up the leadership ranks by a stagnant group of Pelosi loyalists, clearly it wasn’t enough to tip the scales in his favor.
Well, House democrats passed her now we’ll wait and see if they like her.

This post was published at Zero Hedge on Nov 30, 2016.

These Were Supposed To Be Hillary’s Numbers!

Good headlines just keep coming. The Chicago PMI index of Midwest economic activity jumps to its highest level in two years. The ADP employment report shows 216,000 new jobs added in November. US Q2 GDP growth is upgraded to a completely acceptable rate of 3.2%.
Very nice numbers all. And – had the election gone a different way – a big help in easing the transition from one Democrat administration to another. Success breeding success.
But a different number explains this apparently-accelerating expansion: US federal debt, which after growing by only $330 billion in 2015 soared by $1.38 trillion this year. For more on why this happened, see Another Election Year, Another Bunch Of Fake Growth Numbers. But for now it’s enough to say that $1.3 trillion is a lot for the entire US economy to borrow in a single year. For the federal government alone to do so is huge.

This post was published at DollarCollapse on NOVEMBER 30, 2016.