Maduro Hands Out Free Homes, Hikes Minimum Wages To Counter Angry Protest Wave

Days after Venezuela was rocked by the worst riots in over a year, with nearly 30 people dying in April from violence related to protests demanding the departure of Maduro who has again been accused of violating democratic norms, Maduro responded by hiking salaries and handing out free homes as he tries to counter a strengthening protest movement calling for his removal.
According to AP, Maduro said on his Sunday TV show that the minimum wage will rise 60% starting May 1. Workers will earn at least 200,000 bolivars per month including food subsidies. Sadly, in light of Venezuela’s hyperinflation, that amount to less than $50 at the black market exchange rate.
It’s the third wage increase this year as triple-digit inflation erodes workers’ savings. AP also notes that Maduro watched as authorities in several states handed over the keys to hundreds of new apartments.
Separately, Bloomberg reported that Venezuelans were gearing for demonstrations to mark International Workers’ Day, even as last month’s clashes prompting Pope Francis to renew his call for a negotiated solution to the crisis embroiling the South American country. The opposition will rally from 26 points across Caracas on a hot, rainy day in a march being promoted on social media with the hashtag ‘the people rebel against the coup.’

This post was published at Zero Hedge on May 1, 2017.

The Big Push To Break-Up The Big Banks & Then Go After The Central Bank – Episode 1268a

The following video was published by X22Report on May 1, 2017
The Canadian mortgage lender is losing depositors and it is getting worse. Toronto housing bubble is getting ready to pop. India will not be accepting debit or credit cards they will be using mobile app to pay for goods. American debt slaves are in trouble once again. The Fed indicator is pointing to a collapse of the system as the Fed makes their move to raise interest rates and bring down the economy. Trump makes a statement that the banks should be broken apart, pushing the agenda to take down the central bank.

MAY 1/CHINA AND EUROPE CLOSED (THE PHYSICAL MARKETS) SO AN IDEAL TIME TO RAID GOLD/SILVER/WAR OF WORDS ESCALATE WITH RESPECT TO NORTH KOREA AND THE USA/CHINESE RELFLATION TRADE JUST HIT A BRICK W…

Gold: $1254.30 down 11.80
Silver: $17.62 DOWN 38 cents
Closing access prices:
Gold $1257.00
silver: $16.86!!!
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: $1275.98 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1264.40
PREMIUM FIRST FIX: $11.58
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
SECOND SHANGHAI GOLD FIX: $1277.11
NY GOLD PRICE AT THE EXACT SAME TIME: 1263.09
Premium of Shanghai 2nd fix/NY:$14.02
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
LONDON FIRST GOLD FIX: 5:30 am est $xxx
NY PRICING AT THE EXACT SAME TIME: $xxx
LONDON SECOND GOLD FIX 10 AM: $xxxx
NY PRICING AT THE EXACT SAME TIME. xxx
For comex gold:
MAY/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 12 NOTICE(S) FOR 1200 OZ.
TOTAL NOTICES SO FAR: 27 FOR 2700 OZ (.0839 TONNES)
For silver:
For silver: MAY
757 NOTICES FILED TODAY FOR 3,785,000 OZ/
Total number of notices filed so far this month: 2178 for 10,890,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
FEDERAL RESERVE EAR MARKED GOLD REPORT for April
In Feb we had $7,841,000 worth of gold housed at the FRBNY valued at 42.21 dollars per oz
Last month: we had the same; $7,841,000 of gold valued at 42.21
thus 0 oz of gold moved out.

This post was published at Harvey Organ Blog on May 1, 2017.

Why There Will NEVER Be A Political Solution To America’s Problems

Why do things never seem to change no matter who we send to Washington? It seems like for decades many of us have been trying to change the direction of this country by engaging in the political process. But no matter how hard we try, the downward spiral of our nation just continues to accelerate. Just look at this latest spending deal. Even though the American people gave the Republicans control of the White House, the Senate and the House of Representatives, this deal very closely resembles ‘an Obama administration-era budget’. It increases spending even though we have already been adding more than a trillion dollars a year to the national debt, it specifically forbids the building of a border wall, it fully funds Planned Parenthood, and there are dozens of other concessions to the Democrats in it. As I previously warned, these ‘negotiations’ were a political rout of epic proportions.
Perhaps many of us were being highly unrealistic when we expected that Donald Trump could change things. Because fixing America is going to take a lot more than getting the right number of ‘red’ or ‘blue’ politicians to Washington. Rather, the truth is that the real problem lies in our hearts, and the corrupt politicians that currently represent us are simply a reflection of who we have become as a nation.
The generations of people that founded this nation and established it as the greatest republic that the world had ever seen had far different values than most Americans do today.
So until there is a dramatic shift in how most of us see the world, it is quite likely that not much in Washington will change.
Throughout the campaign, Donald Trump spoke boldly about ‘draining the swamp’, but this spending deal very much reflects the swamp’s priorities. The Washington Post has published a list of eight ways that ‘Trump got rolled in his first budget negotiation’, and in this case the Post is quite correct…

This post was published at The Economic Collapse Blog on May 1st, 2017.

Contagion: Home Capital Bank Run Spreads To Another Canadian Mortgage Lender

As discussed first thing this morning, the fate of Canada’s largest alternative mortgage lender, Home Capital Group, appears to have been decided over the weekend, when in the span of just one week, over 70% of the company’s deposit base had been withdrawn, effectively mothballing the business, leaving just a sale or liquidation as the two possible outcomes even as a $2 billion emergency line of credit keeps the company afloat, at least until HCG’s $12.8 billion in GICS mature some time over the next 30 to 60 days.

This post was published at Zero Hedge on May 1, 2017.

Three Charts Are Warning a Market Collapse Is Just Around the Corner

The markets are speaking, but no one is listening.
The single driver of the stock market since election night is the hype of a Trump-policy driven economic boom. The economy is booming, but based on expectations NOT actual policy changes.
This is a critical distinction.
Stocks are MOST susceptible to violent drops (or even Crashes) when illusions are shattered. The illusion of major changes to the US economy is about to be shattered.
The markets are already telegraphing this.
The single most important stock market index for assessing ‘risk on’ vs. ‘risk off’ is the Russell 2000. What the Russell 2000 does… the rest of the market soon follows.
On that note, the Russell 2000 has just staged a final blow off push to the upside. And. It. Failed. The momentum here has shifted and we could drop to that red box (a 5% drop) in a matter of days.

This post was published at GoldSeek on 1 May 2017.

With Apple Raking In $3.6 Million In Cash Every Hour, Traders Ask When Will It Start Spending

Both AAPL and the broader Nasdaq index are trading at new all time high ahead of Apple’s earnings on Tuesday, where in addition to the company’s operating results and iPhone sales, investors will pay close attention to Apple’s record cash hoard – expected to rise well above a quarter trillion dollars – and especially to hints Tim Cook may reveal about the company’s cash usage plans. In addition to the traditional speculation about potential AAPL M&A, the WSJ points out that the money, more than 90% of which is stockpiled outside of the U. S., has drawn fresh attention as President Donald Trump has proposed slashing business taxes and granting a one-time tax holiday on corporate cash brought home. Those policies could ratchet up pressure on the tech giant to dole out more money to shareholders or make splashy acquisitions.
Here are some striking facts about Apple’s cash cushion from the WSJ:

This post was published at Zero Hedge on May 1, 2017.