Baltimore Has Become A Rotting, Decaying War Zone As A Raging Opioid Epidemic Eats Away At The City Like Cancer

It is hard to believe that Baltimore was once one of the greatest cities in the entire world. Unlike nearby Washington D. C., Baltimore is a blue collar city that is home to some of the hardest working people in America. When I was in high school, my brother and I were huge fans of the Baltimore Orioles, and once in a while our parents would drive us from our home in Virginia all the way up to Baltimore to see them play. As an adult, I spent a number of years living near D. C., and I would take frequent trips up to Baltimore. To say that the city is in a state of decline would be a major understatement. Everywhere you look there are abandoned buildings and homes, and as you drive through some of the worst areas you can actually see drug addicts just lying in the streets. Just like so many other communities all over this country, decades of liberal policies have taken a brutal toll, and now the city is just a rotting, decaying shell of the glorious metropolis that it once was.
There are some sections of Baltimore that you simply do not go into once the sun goes down. And actually it isn’t a very good idea to go into those areas during the day either. The crime in the city has gotten so bad that authorities have actually formally requested help from the federal government…

This post was published at The Economic Collapse Blog on May 9th, 2017.

For The First Time, You Can Track Every Dollar The Government Spends

Despite paying trillions in Federal taxes every year, Americans’ requests for a clear, detailed breakdown of where their money goes every year, have gone unanswered and been ignored by both Republican and Democrat administrations for one simple reason: transparency has an unpleasant way of mutating into accountability, which is the scariest thing imaginable for any career politician.
Not any more.
On Tuesday, the US Treasury launched a new website designed to track virtually every dollar – out of roughly $4 trillion – in federal spending. The new website, Beta., was created to put data into the hands of taxpayers by empowering them to track how their tax dollars are spent. The site is designed to follow federal agency spending and, for the first time, links spending data to awards distributed by the government.

This post was published at Zero Hedge on May 9, 2017.


Gold: $1216.63 DOWN $11.07
Silver: $16.09 DOWN 18 cent(s)
Closing access prices:
Gold $1220.40
silver: $16.16
Premium of Shanghai 2nd fix/NY:$11.64
LONDON FIRST GOLD FIX: 5:30 am est $1225.15
For comex gold:
For silver:
For silver: MAY
Total number of notices filed so far this month: 4192 for 20,960,000 oz

This post was published at Harvey Organ Blog on May 9, 2017.

Gold: Summer Doldrums Tactics

1. Gold has arrived at the $1220 support zone. Please click here now. Double-click to enlarge.
Note the position of the Stochastics oscillator at the bottom of the chart. Significant rallies tend to begin from the current position. Since Indian dealer stocking for the Akha Teej festival peaked a few weeks ago, gold has been declining (as I suggested it likely would). Top analysts at Goldman Sachs had a target of $1220 and that’s roughly where the price has fallen to. Please click here now. Double-click to enlarge. The downtrend from the April highs has been relentless for silver. To deal with this type of market, investors need to regularly stock up on put options. Another strategy is to carry some short positions (like the banks do). When there is no rally in a market, there is no possibility to book any profit on anything other than bets that the market will fall. I hold a lot of dividend paying investments in the precious metal sector as well as some short positions. The bottom line is that I believe in a coming bull era, but if I’m going to wait for it to happen, I want to get paid handsomely for the time I spend in the waiting room!

This post was published at GoldSeek on 9 May 2017.

Devonshire: True Inflation Is Three Times Higher Than Officially Reported

A fascinating, recent report by the Devonshire Research Group, whose recent work on Tesla was featured here one year ago, has moved beyond the micro and tackled on of the most controversial macroeconomic topic possible: what is the true rate of inflation. What it finds is that, like others before it most notably Shadowstats and Chapwood, the accepted definition of inflation, or CPI, is dramatically understated for various reasons, both political and economic.
For those unfamiliar with the “alternative” explanations of inflation measurement, and the implications if CPI is indeed drastically underestimating true inflation, the report is a real eye opener.
Devonshire sets the scene by noting that a wide variety of Price Indices are used to adjust for the effects of Inflation on the economy. These adjustments are widely applied to derive a number of common measures and underlie many critical economic and asset management concepts
Price Indices: the Consumer Price Index (CPI), the Producer Price Index, the GDP Deflator Economic concepts: the Standard of Living, Real Income and Output, Real Economic Growth Asset Management concepts: Real Interest Rates, the Risk-Free Rate of Return, the Cost of Capital

This post was published at Zero Hedge on May 9, 2017.

Big Banks Pushing Smaller Banks To Merge Deposits Before The Bank Runs Begin – Episode 1275a

The following video was published by X22Report on May 9, 2017
Home Capital Group is becoming desperate they are now selling million of mortgages. Half of Canadians do not have $200 for an emergency. Gallup economic confidence declines, more and more people believe the economy is getting worse. Wholesales sales growth declines and lumber implodes. Atlanta Fed is now down to 3.6% from 4.2%. Fed reports a drop in credit card spending and consumer spending in general. We are now back to the period right before 2008 crash. JP Morgan is telling smaller banks to consolidate deposits before the economy comes down.

Stocks and Precious Metals Charts – No Fear, No Consequences, No Accountability

“It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes.”
Andrew Jackson, On the Second Bank of the United States
“Jim, lad, there be consequences an’ then there be consequences. Devil take ’em all, says I, and pass aft the rum.”
Robert Louis Stevenson, Treasure Island
The Nasdaq managed to close at a new all time high today, with techs leading the way.
The broader measures such as the SP 500 and the Russell 2000 were weaker.
Gold and silver finished off slightly along with Treasuries as it was another risk on day, although the bravado seemed to be getting a bit thin at these levels.
VIX closed at a 24 year low yesterday. The spreads between Junk and the Ten Year have also been narrowing.
Traders seem very confident that the Trump administration is going to be very good for the corporatocracy.
Disney beat on earnings, but missed on revenues and other metrics.

This post was published at Jesses Crossroads Cafe on 09 MAY 2017.

Seattle Mayor Wants To Tax Diet Soda To Fight “White Privileged Institutionalized Racism”

Back in February, Seattle’s Mayor Ed Murray called for a 2 cent per ounce tax on sugary soft drinks in order to “improve Seattle’s educational opportunities for students of color.” Per Lynx Media, the tax was expected to raise some $16 million per year.
Of course, when someone on his staff pointed out that a tax on sugary drinks would disproportionately impact the minorities that he was apparently trying to help, Murray knew that something drastic had to happen. So that’s when he decided to launch a new attack against the most recognizable symbol of “white privileged institutionalized racism” on the planet: DIET SODA!
Per the Seattle Times:
The changes were recommendations that emerged when staff from the mayor’s office and the office of Councilmember Tim Burgess studied disparate impacts the tax could have on people with low incomes and on people of color, according to Murray.

This post was published at Zero Hedge on May 9, 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.

Retail Meltdown Demolishes Mall Investors

Even the biggest.
The closure of thousands of retail chain stores last year and this year, with many more to come – from big anchor tenants such as Macy’s to smaller stores such as Payless Shoes – and the bankruptcies and debt restructurings ricocheting through the industry are having an impact on retail malls. And mall investors – that may include your retirement account – are getting crushed.
The commercial real estate industry has been claiming that these shuttered retail spaces are being converted into restaurants or fitness centers or smaller shops or whatever. And zombie malls are leasing out their parking lots to car dealers to store their excess new vehicle inventory, and that everything is going to be fine.
But investors in publicly traded Real Estate Investment Trusts that were for years among the stars in the S&P 500 are voting with their feet.
It’s not that these REITs are doing all that badly on an operational basis. They’re hanging in there. But many of the announced store closings and bankruptcies haven’t worked their way through the pipeline.
Shares of these REITs all peaked together at the very end of July 2016 and have since then plunged in unison.

This post was published at Wolf Street on May 9, 2017.

Jeff Christian: Gold Weakness Temporary, Long-Term Prospects Still Strong

Gold and silver have been getting slammed for weeks but Jeff Christian, one of the world’s leading precious metals analysts, thinks this is more of a short-term reaction to subsiding geopolitical fears and reiterates his long-term bullish outlook based on a number of fundamental drivers.
Recent Weakness Is Short-term
In early April, the price of gold was roughly $1,250 an ounce, he noted, as the US bombed a Syrian airbase and the Trump administration made a statement about sending an aircraft carrier group off of the Korean peninsula.
This saber rattling dovetailed with concerns about populist French presidential candidate Marine Le Pen possibly taking the lead in the French elections. Now, with Emmanuel Macron’s defeat of Le Pen, fears over a further break-up of the European Union have subsided and the demand for gold has weakened.
‘There was a tremendous amount of political uncertainty and risk,’ Christian noted. ‘In that environment, the price of gold went from $1,250 to $1,297 over about a two-week period. Then it came back off. … I think what we’re seeing is not a massive move away from gold but a very short-term (reaction).’

This post was published at FinancialSense on 05/09/2017.

Economic Confidence Slumps To Lowest Since Trump’s Election

Just as US macroeconomic data surprises collapse back to reality (but stocks hit record highs), so it appears the animal spirits of American Consumers are tumbling…
Hope lasted a few months in the ‘real’ data… but has collapse in the last month.
And as Gallup reports, Americans’ views of the economy remain positive on balance, but just barely. Gallup’s U. S. Economic Confidence Index averaged +3 for the week ending May 7. The index is down four points from two weeks ago and now sits at a nominal low for the year after trending downward from its early March peak.

This post was published at Zero Hedge on May 9, 2017.

A Sobering Look At The Future Of Oil

The current discussion about the future of oil is how soon will it be before petroleum becomes a sunset industry. If it isn’t already. Flat or falling demand. Carbon taxes. Electric cars. Renewable energy. Oil has no future. It is only a matter of time, although how much time remains is subject to considerable discussion and debate. Various prognosticators put forth differing view about when world oil demand will peak. Some say as early as 2030, others much later. Nobody says never.
As for actually running out of oil, that issue has run its course. At least for now.
How long the world stays in the oil business is of critical importance. This is illustrated by a Financial Post article April 28 titled, ‘Next battleground; Enbridge’s aging Great Lakes pipeline stirs new protest in Michigan’. Until recently, the battle against pipelines has been opposing new construction. Now it is existing pipelines. This opens yet another can of worms the industry and regulators have never really grappled with.
Enbridge Line 5 crosses from Wisconsin to Michigan under the Mackinac Straits between Lake Michigan and Lake Huron, a distance of about 4.5 miles. Built in 1953 to the most demanding standards of the day, the Enbridge website says Line 5 transports about 540,000 b/d of Canadian light and synthetic crude and natural gas liquids to markets in Michigan and beyond. What has emerged is concern among campaigning Michigan politicians about the potential for a major spill into the Great Lakes, an event being politically branded as inevitable.

This post was published at Zero Hedge on May 9, 2017.

Why Are Chinese Investors Buying Up Gold Bars?

Chinese investors are buying gold bars at a torrid rate. China’s appetite helped drive global demand for physical gold up 9% in the first quarter of 2016. Chinese investors gobbled up 105.9 tons of gold in Q1. That represents a 30% year-on-year increase, and was the fourth strongest quarter on record.
So, why the strong demand for physical gold in China? Mao Mao, a gold dealer in downtown Shanghai, told the Australian Financial Review she sees three major factors pushing the Chinese gold rush – and they all relate to fear.

People are afraid of war, a falling yuan and slumping property prices,’ she said. ‘Buying gold bars as an investment is a good way to guard against risk.’
Perpetually low interest rates have also pushed investors into gold. Mao said many people don’t want to put their money in the bank, so they buy gold bars instead. The current Chinese base rates stands at 4.350%. While low by Chinese standards, it is significantly higher than interest rates in the US and Europe.

This post was published at Schiffgold on MAY 9, 2017.

It Can’t Happen Here: Pride, Power, Exceptionalism, and the Smoking Chimney

“Mass propaganda discovered that its audience was ready at all times to believe the worst, no matter how absurd, and did not particularly object to being deceived because it held every statement to be a lie anyhow.
The totalitarian mass leaders based their propaganda on the correct psychological assumption that, under such conditions, one could make people believe the most fantastic statements one day, and trust that if the next day they were given irrefutable proof of their falsehood, they would take refuge in cynicism; instead of deserting the leaders who had lied to them, they would protest that they had known all along that the statement was a lie and would admire the leaders for their superior tactical cleverness…
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated communist, but people for whom the distinction between fact and fiction, true and false, no longer exists.
The sad truth is that most evil is done by people who never make up their minds to be good or evil.”
Hannah Arendt, The Origins of Totalitarianism
“It seems that under the overwhelming impact of rising power, humans are deprived of their inner independence and, more or less consciously, give up establishing an autonomous position toward the emerging circumstances.
The fact that the foolish person is often stubborn must not blind us to the fact that he is not independent. In conversation with him, one virtually feels that one is dealing not at all with him as a person, but with slogans, catchwords, and the like that have taken possession of him.

This post was published at Jesses Crossroads Cafe on 08 MAY 2017.

Gold and Silver Market Morning: May 09 2017 – Gold consolidating ahead of a strong move!

Gold Today – New York closed at $1,227.20 yesterday after closing at$1,229.30 Friday. London opened at $1,224.75 today.
Overall the dollar was stronger against global currencies, early today. Before London’s opening:
– The $: was stronger at $1.0904 after yesterday’s $1.0973: 1.
– The Dollar index was stronger at 99.34 after Friday’s 98.73.
– The Yen was weaker at 113.74 after Friday’s 112.68:$1.
– The Yuan was weaker at 6.9064 after Friday’s 6.9035: $1.
– The Pound Sterling was weaker at $1.2926 after Friday’s $1.2975: 1.
Yuan Gold Fix
The Shanghai Gold Exchange was trading at 275.40 towards the close today. This translates into $1,235.28. New York closed at a $8.08discount to Shanghai’s close yesterday. London opened at a discount of$10.53 to Shanghai’s close today.
LBMA price setting: The LBMA gold price was set today at$1,225.15 from yesterday’s $1,229.70.

This post was published at GoldSeek on 9 May 2017.

Do you own any ETFs or mutual funds? Read this.

A few days ago I spoke to a finance professor at Columbia University here in New York City who has been doing a deep dive on the financial management industry.
His results were pretty concerning.
One of the things that he said was that fund management fees have been dramatically declining over the past few years.
At face value this sounds like a good thing.
All mutual funds and ETFs charge fees, usually a percentage of the assets that they’re managing.
For example, the Vanguard 500 Index Fund is a mutual fund that essentially owns all the companies in the S&P 500 index.
This fund is not ‘actively managed’, i.e. there are no stock-pickers deciding which companies to buy.
Instead, the fund managers simply acquire shares of the 500 largest companies in America, irrespective of those companies’ prices, valuations, or prospects.
This is known as passive (index) investing.

This post was published at Sovereign Man on May 9, 2017.