“Please Just Stop”: Republicans Slam Trump’s Attack On Mika

Please just stop. This isn't normal and it's beneath the dignity of your office.
— Ben Sasse (@BenSasse) June 29, 2017

With his latest two tweets, in which he attacked “Morning” Joe Scarborough and Mika Brzezinski, Trump may have finally crossed the line. At least that’s the view of a group of Republicans who slammed Trump’s over his tweets attacking MSNBC host Mika Brzezinski, saying the personal jabs about a woman’s looks were unworthy of the presidency.
‘Please just stop. This isn’t normal and it’s beneath the dignity of your office,’ Republican Senator Ben Sasse of Nebraska said on Twitter Thursday.
Republican Senator Lindsey Graham also slammed Trump tweeting. ‘Mr. President, your tweet was beneath the office and represents what is wrong with American politics, not the greatness of America,’

This post was published at Zero Hedge on Jun 29, 2017.

Thomas Frank: The Demise of the Democratic Party Establishment: Hubris, Nemesis, and the Credibility Trap

“What kind of nation are we when we give tax breaks to billionaires, but we can’t take care of the elderly and the children.”
Bernie Sanders
It started by selling their souls to Big Money and class elitism. In this they joined forces with the Republican party which declared its allegiance to Mammon many years ago, and has served it faithfully ever since.

This post was published at Jesses Crossroads Cafe on 29 JUNE 2017.

The World Is Now $217,000,000,000,000 In Debt And The Global Elite Like It That Way

The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers. Politicians love to borrow money, but over time government debt slowly but surely impoverishes a nation. As the elite get governments around the globe in increasing amounts of debt, those governments must raise taxes in order to keep servicing those debts. In the end, it is all about taking money from us and transferring it into government pockets, and then taking money from government pockets and transferring it into the hands of the elite. It is a game that has been going on for generations, and it is time for humanity to say that enough is enough.
According to the Institute of International Finance, global debt has now reached a new all-time record high of 217 trillion dollars…

This post was published at The Economic Collapse Blog on June 29th, 2017.


GOLD: $1244.20 DOWN $3.30
Silver: $16.59 DOWN 16 cent(s)
Closing access prices:
Gold $1245.50
silver: $16.65
Premium of Shanghai 2nd fix/NY:$8.30
LONDON FIRST GOLD FIX: 5:30 am est $1246.60
For comex gold:
TOTAL NOTICES SO FAR: 2950 FOR 295,000 OZ (9,1757 TONNES)
For silver:
5000 OZ/
Total number of notices filed so far this month: 994 for 4,920,000 oz

This post was published at Harvey Organ Blog on June 29, 2017.

Comey Friend Unveils “Smoking Gun” Story

For about a week now, Benjamin Wittes, the Brookings Institution senior fellow and noted ally of former FBI Director James Comey, has been taunting the Trump administration with tweets suggesting that another ‘bombshell’ story, presumably related to the Russia investigation, was in the works and set to drop any minute (we covered it all here: “Tick, Tick, Tick” Comey Ally Scrambles To Explain Why “Next Trump Bombshell” Didn’t Arrive Today).
Of course, people took notice of the warnings because Wittes posted similar tweets just before the New York Times published their now infamous story on Comey’s memos.

This post was published at Zero Hedge on Jun 29, 2017.

Are Central Banks Going to Intentionally Crash the System?

Since 2007, the world has packed on a truly staggering amount of Debt. That year (2007) is now commonly referred to as a debt bubble. At that time, global debt was $149 trillion.
Today, 10 years later, it stands at $217 trillion.
Put another way, the world has packed on another $68 trillion in debt since the last debt bubble. In terms of Debt to GDP, the world has risen from 276% in 2007 (an already insane amount) to 327%.

This post was published at GoldSeek on 29 June 2017.

“The Paint May Be Drying, But The Wall Is About To Crumble”: BofA Explains What The Market Is Missing

One of the recurring laments about the Fed’s hiking cycle, most recently from Goldman, is that despite 2 rate hikes so far this year, financial conditions remain the loosest they have been in over two years. Whether that is due to the market being so drunk on the Fed’s “punch bowl” it is unable to grasp the liquidity is being dragged away, or for some other unknown reason despite repeated warnings by FOMC members that stocks here are overvalued, markets simply refuse to concede that financial conditions should be tighter, in fact, as Goldman observed yesterday “so far, the Fed’s efforts to tighten financial conditions have achieved too little, not too much.”

This post was published at Zero Hedge on Jun 29, 2017.

The Crash of 1929 – But somewhere, deep down, they knew the party was over.

“…people believed that everything was going to be great always, always. There was a feeling of optimism in the air that you cannot even describe today.”
“There was great hope. America came out of World War I with the economy intact. We were the only strong country in the world. The dollar was king. We had a very popular president in the middle of the decade, Calvin Coolidge, and an even more popular one elected in 1928, Herbert Hoover. So things looked pretty good.”
“The economy was changing in this new America. It was the dawn of the consumer revolution. New inventions, mass marketing, factories turning out amazing products like radios, rayon, air conditioners, underarm deodorant…One of the most wondrous inventions of the age was consumer credit. Before 1920, the average worker couldn’t borrow money. By 1929, “buy now, pay later” had become a way of life.”
“Wall Street got the credit for this prosperity and Wall Street was dominated by just a small group of wealthy men. Rarely in the history of this nation had so much raw power been concentrated in the hands of a few businessmen…”
“One of the most common tactics was to manipulate the price of a particular stock, a stock like Radio Corporation of America…Wealthy investors would pool their money in a secret agreement to buy a stock, inflate its price and then sell it to an unsuspecting public. Most stocks in the 1920s were regularly manipulated by insiders ”

This post was published at Jesses Crossroads Cafe on 29 JUNE 2017.

Gold’s future confiscation is a growing reality, as currency confidence slides! – Part 2

The subject of gold’s confiscation has come onto our screens again, but this time, being described as a ‘Myth’ in the future. This thought comes from Canada, a favorite place for U. S. citizens to store their gold in the hopes that it will be outside the reach of the U. S. Federal Reserve.
We respond to the article that described it as a myth, because we are firmly of the opinion that as we move from dollar hegemony to a multi currency, world currencies will find themselves competing against each other [race to the bottom] and increase the prospects for the confiscation of gold held in storage companies and by dealers as well as making such dealing illegal again.
This makes the confiscation of gold and eventually silver, a future reality. It is impossible to give a date when this will happen making now a prudent time to act.
a)Covered in the first part: In this article we will look at the real reasons why the U. S. confiscation took place and its broad objectives as well as the underlying principles behind the confiscation and how they can apply in the future. b)Covered in the first part: We will show how the confiscation of gold in 1933 was not a money supply issue, nor will it be in the future. c)We will highlight why such underlying principles are beginning to appear now, as this new global monetary system arrives on stage. d)We will explain why gold is becoming an increasingly important reserve asset and will become needed by governments in the future.

This post was published at GoldSeek on 29 June 2017.

Some Really Stupid Things Uttered By Some Really Smart People

“Remain calm, all is well.”
–Kevin Bacon, “Animal House”
History is littered with very smart people saying very stupid things.
Here are some examples of quotes that their authors would like to take back:
* Irving Fisher (economics professor at Yale University in 1929): ” Stocks have reached what looks like a permanently high plateau.”
* Albert Einstein: “There is not the slightest indication that nuclear energy will ever be obtainable. It would mean that the atom would have to be shattered at will.”
* The president of Michigan Savings Bank urging Henry Ford not to invest in The Ford Motor Company: “The horse is here to stay but the automobile is a novelty, a fad.”
* Ken Olsen (president of Digital Equipment and MIT graduate): “There is no reason for any individual to have a computer in their home.”
* Tom Watson, IBM chairman (1943): “I think there is a world market for maybe five computers.”
* Bill Gates (2004): “Two years from now spam will be solved.”
* You Tube Founder Steve Chen: “(I am worried that) there’s just not that many videos people want to watch.”
* Robert Metcalfe (inventor of ethernet): “I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse.”

This post was published at Zero Hedge on Jun 29, 2017.

Central Banks Are Now Colluding With Each Other To Trigger The Collapse – Episode 1319a

The following video was published by X22Report on Jun 29, 2017
Moody’s warns that the private label credit cards are going to be in trouble as more and more retail stores close. Q1 GDP was revised to an incredible 1.4. What made GDP surge, the spending on recreational vehicles. Banks begin to buy back there own stocks, this is not going to help the economy. The Treasury will run out of money by mid-October. Fed Ballard says the Fed has lost control of the market. Traders are worried about what Yellen says. The central banks are working with each to crash the system.

The two critical requirements of a Perfect Plan B

Yesterday we talked about how most of Western civilization, including the United States and much of Europe, have long ago departed from the original ideals that made them great.
The values of liberty, economic freedom, self-reliance and independence have been replaced by debt, consumption and over-regulation.
Decades of bungling leadership have completely broken the financial system, and governments and central banks have dug themselves into a hole that is impossible to solve.
As we noted, though, it’s impossible to predict precisely when, one day, the worst consequences of this economic narcissism will strike.
It might be weeks, months, or years before anything happens. But rational people don’t ignore the obvious risks to their livelihoods and their families.
Rational people have a Plan B to ensure that they will always be in a position of strength, no matter what happens (or doesn’t happen) next.
A Plan B is a personalized insurance policy that increases your freedom, protects your hard-won assets, helps you make more money and ensures that you are legally saving tens of thousands of dollars in taxes every year.

This post was published at Sovereign Man on June 29, 2017.

This Region Is China’s Next Target For Resource Deals

South Africa’s chamber of mines officially filed suit this week to block the country’s challenging new mining charter. But elsewhere in the world, some of the biggest investors in natural resources are ramping up their financial commitments – to a new target region for mining and energy deals.
Latin America.
Specifically, Brazil. Where government officials announced that a major new infrastructure fund backed by China will begin accepting investment proposals this week.
The $20 billion fund was unveiled late last year. With Chinese backers committing $15 billion of the total funds, and the balance provided by Brazilian and international banks.

This post was published at Zero Hedge on Jun 29, 2017.

Banks Are Saving Stocks As FANG Flops Again, DAX Hits 2-Month Lows

Yesterday’s ‘dead cat bounce’ in FANG stocks has been erased as broad-based weakness stemming from increasing recognition of hawkish central bank chatter is hitting stocks and bonds. Bank stocks bounce after stress test ‘success’ are saving some indices from bigger losses.
FANG stock erased yesterday’s gains…
Bank stocks bounced overnight and remain green but are fading as the day progresses…

This post was published at Zero Hedge on Jun 29, 2017.

Gold and Silver Market Morning: June 29 2017 – Gold continues to consolidate!

Gold Today – New York closed at $1,249.10 yesterday after closing at $1,249.10 Tuesday. London opened at $1,247.20 today.
Overall the dollar was much weaker against global currencies, early today. Before London’s opening:
– The $: was much weaker at $1.1426 after yesterday’s $1.1358: 1.
– The Dollar index was weaker at 95.76 after yesterday’s 96.36.
– The Yen was weaker at 112.55 after yesterday’s 112.36:$1.
– The Yuan was much stronger at 6.7800 after yesterday’s 6.8036: $1.
– The Pound Sterling was much stronger at $1.2979 after yesterday’s $1.2810: 1.
Yuan Gold Fix
New York and London failed to rise in the face of a rising Shanghai gold price. As you can see Shanghai’s gold price has been rising steadily for the last three days in the Yuan, while the Yuan, itself, has strengthened remarkably, as the P. B. of C. ensures it rises and stabilizes.
Against yesterday’s Shanghai prices New York is now at a $8 discount to Shanghai and London opened at a $17.60 discount. Once again we will see where pricing power resides. We expect Shanghai will show itself as the price leader by lifting London and New York higher. But this sort of day clearly shows where the dominance lies.

This post was published at GoldSeek on 29 June 2017.

Get Ready for Risk Off

Tuesday’s steep -100.53 index point decline in the NASDAQ, a loss of -1.61% on the Composite and 20 decline on the S&P (down -0.81%) is yet another sign of weakening internal strength within an aging uptrend. By mid-day on Wednesday, nearly all of the S&P 500 decline has been retraced and a portion of the NASDAQ decline as well. Yet, Tuesday’s announcement regarding the postponement of the Healthcare Bill vote, and a lot of the discussion around that proposal seem to suggest that it may take quite some time to finally pass. Senators like Rand Paul appear fairly strongly opposed to the bill in its current form and there is wide disparity among the Senators who are against it, in terms of how to reconcile the bill. The suggestion now is that the Senate may need to work through the August recess until a plan is complete.
Yet, from the market’s point of view, it is imperative that the healthcare bill is moved along at a rapid clip, as any extended delay from here into August would mean that tax reform will likely not happen in 2017 and instead will be pushed into 2018. For stocks, that is a serious problem. It is also a serious issue for the Fed, which is anticipating a recovery and pickup in growth with tax reform being the key driver. Any delay would mean that expected growth may not increase as expected and that the Fed may have to step back from its planned sequence of rate hikes. For a stock market that ran up rapidly on the idea that a Republican controlled White House, House, and Senate would be able to quickly push through major changes in public policy (i.e. the end of gridlock), the gap between what current prices have now discounted in versus the potential disappointment regarding both how long legislation will take to enact, along with how significant the legislative changes end up being (should they be watered down)…well, that gap could now be a surprisingly wide chasm.

This post was published at FinancialSense on 06/28/2017.

Autopsy of Banco Popular Shows Fragility of EU Banking System

What would a disorderly bank collapse in Spain and Italy have done?
By Don Quijones, Spain & Mexico, editor at WOLF STREET.
New information has revealed just how serious a threat a disorderly collapse of Spain’s sixth largest bank, Banco Popular, might have posed to Spain’s banking system. In its final days, Popular was bleeding deposits at a rate of 2 billion a day on average.
Much of the money was being withdrawn by institutional clients, including global mega-fund BlackRock, Spain’s Social Security fund, Spanish government agencies, and city and regional councils, prompting accusations that Spain’s government was using insider knowledge to withdraw large amounts of public funds, which of course hastened Popular’s demise.
All the while, Spain’s Economy Minister was telling the bank’s less privileged investors, including retail shareholders and junior bondholders, that there was absolutely nothing to worry about. Those that believed him lost everything.
Between the end of March and its last day of trading, Popular shed 18 billion of deposits, roughly a quarter of the total. On the night of June 6, Europe’s Single Supervisory Mechanism decided that the bank could no longer cover its collateral. Popular, warts and all (take note, Italy), was sold for the meager sum of 1 to Banco Santander, though Santander will have to raise 7 billion of fresh capital to fully digest the bad stuff on Popular’s books.

This post was published at Wolf Street on Jun 29, 2017.