Bankers Trying to Manipulate Elections in Scotland for Profit

Several of the bankers are threatening to leave Scotland if they vote for separation. These sly bankers said the same shit when the UK did not join the Euro. What these crafty untrustworthy people are really saying is they have UK debt and they fear it will collapse if Scotland leaves. In truth, they are part of the government scare-team and any bank that threatens that should be thrown out of Scotland anyhow. This is not what is good for Britain or Scotland, this is all about the banks not losing money on their bond holdings. Typical abuse of position and any bank taking that position does not deserve a license.
If Scotland stays out of the EU and UK, and it moves away from Marx and toward Adam Smith, it will become the new Switzerland for the 21st century and then watch all the bankers trying to get into to Scotland. I would void any banking license of a bank that puts out this outright propaganda for they are once again trying to manipulate society to line their pockets.

This post was published at Armstrong Economics on September 11, 2014.

Dollar-Yen Pumps Then Dumps As Kuroda Punks Algos

Sometimes we wonder what world Japanese leaders live in. This morning’s mind-blowing lies and propaganda from BoJ chief Kuroda show one thing and one thing only – Japan has reached Europe’s Juncker moment – “it’s serious enough that one has to lie.” But it’s the market’s reaction to his every word that is whipsawing JPY around and running algos wild as first he said more QE is to come then rejected it saying there is no need for more QE now..

This post was published at Zero Hedge on 09/11/2014.

For 90% Of Americans: There Has Been No Recovery

Every three years the Federal Reserve releases a survey of consumer finances that is a stockpile of data on everything from household net worth to incomes. The 2013 survey confirms statements I have made previously regarding the Fed’s monetary interventions leaving the majority of Americans behind:
“While the ongoing interventions by the Federal Reserve have certainly boosted asset prices higher, the only real accomplishment has been a widening of the wealth gap between the top 10% of individuals that have dollars invested in the financial markets and everyone else. What monetary interventions have failed to accomplish is an increase in production to foster higher levels of economic activity.
With the average American still living well beyond their means, the reality is that economic growth will remain mired at lower levels as savings continue to be diverted from productive investment into debt service. The issue, of course, is not just a central theme to the U. S. but to the global economy as well. After five years of excessive monetary interventions, global debt levels have yet to be resolved.”
The full report can be found here. I have selected a few of the more important charts for the purpose of this post.
While the mainstream media continues to tout that the economy is on the mend, real (inflation-adjusted) median net worth suggests that this is not the case overall.

This post was published at StreetTalkLive on 10 September 2014.

My Call On The Precious Metals Sector

I think the best indicator that we are at a bottom is the attacks I have been getting via email, comments that I can’t post because they are so insanely idiotic and even on twitter. Frankly, given the degree of manipulation by the Fed-sanctioned banks and the anti-gold bias of the financial media, I am stunned that anyone would expect that my ‘bottom’ call would be perfect to the day. Here’s an example of completely fraudulent propaganda coming directly from Wall Street. This was an email received by Dennis Gartman yesterday that he published in his daily newsletter today:
‘Interestingly we got an e-mail yesterday from an individual noting that he had been told by his brokerage firm that it was illegal to own gold in non-US dollar terms. This is nonsense; of course one can own gold in non-US dollar terms… otherwise the NYSE would be trading our ETFs… GYEN; GEUR, GGLD and GLDE illegally, or the CME would be illegally allowing us to be long of gold/short of the EUR, or the Yen or Sterling or any combination therefore. We are stunned by the nonsense that is sometimes so prevalent in the markets.’

This post was published at Investment Research Dynamics on September 9, 2014.

Central Banks: Divergence of Rhetoric and Reality

U. S. Economy Still Missing: 3.9 Million Prime-Age Jobs … Today’s U. S. jobs report, which showed nonfarm payrolls increasing by a meager 142,000 jobs and the unemployment rate falling 0.1 percentage point to 6.1 percent in August, will undoubtedly rekindle a familiar debate: How much more should the Federal Reserve do to put people back to work? – Bloomberg
Dominant Social Theme: The Federal Reserve needs to step up and build as many jobs as necessary.
Free-Market Analysis: Imagine taking bits of colored paper, making more of them and then waiting for jobs to appear. One has little to do with the other, but according to a steady stream of articles in Bloomberg and the rest of the mainstream media, such an act leads to an inevitable result: additional employment.
This is a kind of mass delusion, isn’t it? The printing of fiat currency does not of itself stimulate the entrepreneur, create opportunities that can be leveraged or generate companies that have the wherewithal to do so. One is a mechanical function of the printing presses. The other is the result of considerable human action and the application of ingenuity, courage and concentration.
The printed money is not provided to entrepreneurs in any case. It is funneled to a distribution channel of commercial banks. It is these banks, often with distressed balance sheets, that are to provide the mechanisms for economic growth.

This post was published at The Daily Bell on September 09, 2014.

Events Impacting The Gold And Silver Price In The Week Of September 8th

The primary focus of our website is to report on the different aspects of the gold market: fundamentals, economic and monetary analysis, basic technical analysis. Our view on the real price setting in the gold and silver market differs from the mainstream view. Price changes happen to coincide with events or announcements; mainstream media are used to report a relationship between both. However, we believe that the real price setting for the time being is taking place in the COMEX futures market. Market expert Ted Butler does an outstanding job analyzing the weekly evolution in the COMEX market and how it affects price setting.
In this article, we summarize the key events of the running week that could have an impact on the price of gold and silver price because of trading in COMEX futures.
During the previous week, between September 1st and 5th, a number of economic data and central bank announcements resulted in selling pressure in dollar denominated gold and silver:

This post was published at GoldSilverWorlds on September 8, 2014.

The Silent Death Of The U.S. Dollar

To begin, I would like put forth the observation that the U. S. Government has become particularly belligerent militarily toward the rest of the world. Anyone who thinks the U. S. is not provoking Russia and China all over the globe has their head in the sand or is incapable of looking at the facts outside of the tragically skewed propaganda coming from Washington, DC that is being funneled through the U. S. media pipeline.
The reason the U. S. is trying to stir up global military chaos is simple, the U. S. dollar is being systematically removed from its reserve status. The latest evidence of this is the news report yesterday that China and Argentina are going to begin trading in their respective currencies, with trade settlement in yuan – NOT dollars: News Link. Please note this news is not being reported by the U. S. mainstream financial media.

This post was published at Investment Research Dynamics on September 8, 2014.

Paul Craig Roberts: Everything Is Totally Manipulated

The following video was published by FinanceAndLiberty.com on Sep 6, 2014
Jason Burack of Wall St for Main St interviewed former assistant US Treasury Secretary under President Reagan, former Associate Editor of the Wall Street Journal and distinguished academic and author, Dr. Paul Craig Roberts Paul also served on many boards of directors in the private sector.
During this 40 minute interview, Jason starts off by asking Paul about the US’ foreign policy and if it got more aggressive after the Soviet Union collapsed.
Dr. Roberts talks about the Wolfowitz Doctrine from the Neo-Cons and how US foreign policy has become even more aggressive towards war and expansion after the Soviet Union collapsed.
Jason and Dr. Roberts discuss the military industrial complex and Dr. Roberts talks about how and why the Soviet Union fell.
Dr. Roberts says production managers in the Soviet Union focused on beating quotas but they did not produce anything consumers wanted, there was enormous misallocation of capital and resources there and there were not any reliable pricing mechanisms for businesses and entrepreneurs to produce goods and services consumers wanted.
Next, Jason asks Paul about what’s going on in the real economy in the US and if there’s inflation.
Dr. Roberts talks about all the inflation in food, energy, etc and how the CPI was changed by politicians so cost of living adjustments (COLA) would not have to be paid out to more social security recipients.
Jason and Dr. Roberts talk about the ways the BLS continues to change the CPI and under report inflation using hedonics.
Dr. Roberts also talks about how the US economy is not creating really any full time high paying jobs. Dr. Roberts talks about offshoring/outsourcing and why he thinks the US is quickly becoming a 2rd world economy while asset bubbles are created with fiat money.
Jason and Dr. Roberts discuss restaurants and retails stores closing and why that means the economy is not recovering. Paul says the US consumer lacks any savings or discretionary income to spend money.
Finally, to wrap up the interview, Jason asks Dr. Roberts how long he thinks this asset price inflation, QE, backdoor bailouts, currency wars and the real economy in the US contracting can last while politicians, Wall St and large corporations are pure rent seekers and maintain the narrative in the mainstream media that the economy continues to improve.

Personal Responsibility and Free-Market Entrepreneurship

A recent, little discussed article about Russia’s signing of US FATCA legislation contained a surprising confessionary note – and an important one.
The main news was simple enough, of course. Vladimir Putin has signed Russian legislation mandating potential cooperation with US taxing authorities.
It was reported he did not do so willingly – and indeed, the RT (formerly Russia Today) broadcast network presented the news in that context.
Here’s part of the RT report:
Russia sees serious threat in FATCA … Russia’s financial system is “threatened” by America’s new tax law that demands foreign banks report on all American citizens’ banking activities, the Russian Federal Financial Monitoring Service said Thursday.
The head of the financial monitoring authority Yury Chikhanchin likened the one-sided data exchange to turning Russian banks into spies for the Americans. “Essentially, our financial institutions are becoming tax informants for the American economy. As similar systems start spreading to other countries, they can bring serious risks to our financial system,” Chikhanchin said at a banking forum in Sochi.
FATCA requires foreign banks to provide information on American clients, who have over $10,000 in deposits, to the US Internal Revenue Service (IRS). If a bank does not comply; it can be subject to a 30 percent fine. Before client information is sent to America, it will pass through the Central Bank of Russia and other local financial or government agencies, which still have the right to keep the information private.
On June 30, just before the deadline, Russia signed a law that allows Russian banks to share the tax data of American clients with US tax authorities, but does not mandate participation. The law simply gives Russian banks the ability to work with FATCA while not making it obligatory.
So far, this is unsurprising. The report and Russia’s dissatisfaction with FATCA didn’t get a great deal of play in Western media, any more than the signing itself.

This post was published at The Daily Bell on September 06, 2014.

THERE GOES THE JOBS RECOVERY STORYLINE

The Wall Street jackoffs all expected an increase in jobs of 200,000 to 250,000 for August. I guess being off by 30% to 40% is considered accurate for an Ivy League educated economist making over $1 million per year. The manipulated, massaged, seasonally adjusted, excel spreadsheet employment data has been released for public consumption by our keepers. They will now tell you what you are supposed to believe regarding the fake numbers. Maybe the weather was too warm for hiring. Maybe it rained or didn’t rain. Maybe ISIS and the looming threat of terrorist attack is deterring employers from hiring. It couldn’t have anything to do with Obamacare, Federal Reserve policies, government regulations and taxes, or the fact that families have 40% less net worth today than they had in 2007.
It’s actually far worse than the reported headline. One survey says 142,000 jobs were added. Of course the BLS excel spreadsheet birth/death adjustment added 102,000 jobs to the calculation, the highest adjustment for August in history. We all know small businesses are hiring like mad before full implementation of Obamacare after the elections. The broader population survey shows that only 16,000 more people were employed in August than in July. The MSM is silent about that number. The sheep must be kept sedated. And now for the best part. While reporting horrifically bad employment numbers, our beloved BLS drones also reported the unemployment rate dropping to 6.1%, the lowest rate in six years. Glory be!!! The economy must be booming and workers must be so ecstatic they are spending like there’s no tomorrow. What? Retail sales have been declining? How can this be? It sure smells like someone took a shit under the bed and won’t admit it. But let’s ignore the cognitive dissonance you are feeling and dig into the bullshit BLS numbers to get a few kernels of truth:

This post was published at The Burning Platform on Sept 5, 2014.

WHY BURGER KING’S EXPATRIATION IS THE MORAL THING TO DO

It was announced last week that Burger King had bought a famous Canadian restaurant franchise known as Tim Horton’s to reduce the amount of taxes they “owe” to the US government. An upcry arose!
As usual the mainstream media and the people who watch it have the story totally wrong. Burger King is not giving US taxpayers a “raw deal” by looking to move abroad so as to save on profits which are not repatriated. Instead, the iconic fast food burger chain is doing the moral thing by moving its tax-base outside the war-mongering, highly socialist US federal government’s reach.
The mainstream media will never give you this side of the story. This obvious trend towards expatriation terrifies the talking heads. You have to come to alternative media sources like The Dollar Vigilante (TDV) Blog and others to get the truth. As Howard Kurtz writes at Fox News,
I feel confident in saying that most Americans are disgusted by the perfectly legal practice of US companies avoiding taxes by incorporating in another country.
If this is the case, it is because Americans love bombing other countries. They lust for blood. I can think of no other logical explanation Americans would want the machine in Washington to continue being fed. Burger King is not the first company to make the moral decision to leave the US tax farm. Many American companies are going abroad – as many as 70. These so-called “inversions”. Even the most American of investors stand behind the inversion. Iconic American billionaire, Warren Buffet, coughed up $3 billion so the hamburger chain could buy the Canadian donut outfit Tim Hortons. Buffett did this just one month after Obama denounced ‘inversion’ tactics as an ‘unpatriotic tax loophole’, ordering regulatory changes to undermine them.

This post was published at Dollar Vigilante on September 2, 2014.

Precious Metals And Internationalization Are The Antidote To The Keynesian Endgame

When looking at today’s economic situation, it is amazing how the debt situation remains underexposed. It is truly the ‘elephant in the room’. In this article we will review the most recent economic data and what that data could mean for the coming years.
When asked about his view on the economic situation, Claudio Grass, managing director of Global Gold, answered with this quote from German economist Wilhelm Rpke:
‘The theories men construct, and the words in which they are framed, often influence their mind more strongly than the facts presented by reality’.
This sentence nicely describes today’s mindset amongst most people in the Western word since we are raised in amounts to a government-controlled educational system! We are not taught to question [authority]. The problem is that the actual system we live in focuses only on the effects but never discloses the underlying causes, let alone tries to connect the dots. This research needs to be taken upon by the individual. However, research requires a healthy portion of curiosity and bravery, as well as independence and self-confidence to stand up for one’s own opinion, which will be in contrast to the story we are told by governments and the mainstream media.
Linking this view to today’s economy, it goes without saying that anyone with a basic level of curiosity can find the following data:
The U. S. currently has total debts outstanding (incl. unfunded liabilites) which are close to 900% of its GDP. America hasn’t passed a budget since April of 2009. As a country, the U. S. has had a budget deficit in 42 out of the last 47 years. The U. S. has paid 14.8% of its yearly revenue to servicing its debt (interest payments).

This post was published at GoldSilverWorlds on September 2, 2014.

The Great U.S. Retirement Asset Bubble vs Physical Gold Investment

Americans are more deluded than ever as the total value of the U. S. Retirement Market hits a new record. According to the data released by the ICI – Investment Company Institute, total U. S. Retirement Assets in first quarter of 2014 are valued at a stunning $23 trillion, up from $22.7 trillion in Q4 2013.
Not only are U. S. Retirement Assets reaching new record highs, so is the sentiment by its member participants. This report put out by the ICI, ‘Our Strong Retirement System – An American Success Story’ stated:
Americans Report High Levels of Confidence in the 401(k) System
Americans have a very favorable view of the employer-sponsored 401(k) and other DC plans. Such confidence is a powerful indicator of the value American workers and retirees place on the 401(k) system.
In a survey of 4,000 households conducted for ICI in the winter of 2012/2013, 63% of respondents said that they have a ‘very’ or ‘somewhat’ favorable impression of 401(k) and similar retirement accounts (see figure below).38 That support rose to 76% among households that held a DC plan account or an IRA.39 Americans have expressed similarly positive views in surveys conducted since late 2008, despite the stock market decline from late 2007 to early 2009.
It’s nice to know that Americans have a HIGH LEVEL of confidence in their 401K plans. Thus, it makes perfect sense that they continue to invest their hard-earned fiat money into a system that promises them GOLDEN RETURNS. Unfortunately, Americans have no idea whatsoever that they are throwing good fiat money (if there is such a thing) into one of the GREATEST PONZI SCHEMES in history.
I assumed that it was mostly the middle-aged and older Americans that continued to invest in the retirement system. Why wouldn’t they? They see retirement not too far around the corner so it only makes sense to continue contributing.
However, Main Stream Media has also bamboozled the younger folks, as they too have taken the Paper Retirement Asset System….. HOOK, LINE and SINKER. Here is another wonderful piece of propaganda from the same report linked above:

This post was published at SRSrocco Report on Sept 2, 2014.

Events Impacting The Gold And Silver Price In The Week Of September 1st

The primary focus of our website is to report on the different aspects of the gold market: fundamentals, economic and monetary analysis, basic technical analysis. Our view on the real price setting in the gold and silver market differs from the mainstream view. Price changes happen to coincide with events or announcements; mainstream media are used to report a relationship between both. However, we believe that the real price setting for the time being is taking place in the COMEX futures market. Market expert Ted Butler does an outstanding job analyzing the weekly evolution in the COMEX market and how it affects price setting.
In this article, we summarize the key events of the running week that could have an impact on the price of gold and silver price because of trading in COMEX futures.

This post was published at GoldSilverWorlds on September 1, 2014.

Is There Capitalism After Cronyism?

The more the Status Quo pursues the same old Keynesian Cargo Cult script of central planning and free money for financiers, the more self-liquidating the system becomes.
Judging by the mainstream media, the most pressing problems facing capitalism are:
2) the failure of laissez-faire markets to regulate their excesses, a common critique encapsulated by Paul Craig Roberts’ recent book The Failure of Laissez Faire Capitalism.
These critiques (and many similar diagnoses) reach a widely shared conclusion: capitalism must be reformed to save it from itself.
The proposed reforms align with each analyst’s basic ideological bent. Piketty’s solution to rising wealth inequality is the ultimate in statist centralization: a global wealth tax.
Roberts and others recommend reforming capitalism to embody social purpose and recognize environmental limits. Exactly how this economic reformation should be implemented is a question that sparks debates across the ideological spectrum, but the idea that capitalism can be reformed is generally accepted by left, right and libertarian alike.
Socio-economist Immanuel Wallerstein asks a larger question: can the current iteration of global capitalism be reformed, or is it poised to be replaced by some other arrangement?

This post was published at Charles Hugh Smith on SATURDAY, AUGUST 30, 2014.

Comex Gold Warehouses Filling Up…With Paper

Willing or unwilling; we all now dwell in the fantasy-realm previously dubbed ‘the Wonderland Matrix’. For the small minority who still retain mental awareness; this all-encompassing illusion of propaganda is like a thick fog which blankets reality. However, for the legions of brainwashed drones in our societies, the Wonderland Matrix is reality.
Nowhere is this blanket of fog thicker than in the precious metals sector. Here perversity is a way of life, as the genesis of the Wonderland Matrix began with the fantasy-world constructed here by the propaganda of the Corporate media.
As must inevitably occur with such serial perversion (i.e. consistently reporting the precise opposite of reality), these perverse lies soon begin to contradict each other. We see a glaring example of this by simply viewing the Corporate media’s ‘perversion (2014 version)’ versus its ‘perversion (2013 version)’.
The insanity of last year began shortly after the Cyprus Steal, when a corrupt Western government rubber-stamped the first ‘bail in’. This, in turn, opened the floodgates to the unlimited confiscation (i.e. theft) of paper assets by our corrupt governments, as these puppet-leaders mumbled in unison about how this (act of theft) was now a ‘precedent’.

This post was published at BullionBullsCanada on 29 August 2014.

“Economic Pilot in Reverse”: US Consumer Spending Unexpectedly Dips; Zero for 79

Mainstream media headlines in the last two days offer an amusing look at GDP forecasts.
GDP Stronger Than Expected
Yesterday, the Financial Times reported US Rebound Stronger than First Thought.
The US economy’s second quarter bounce was stronger than previously thought, with the official annualised growth estimate increased from 4 per cent to 4.2 per cent.
The revision is more evidence of robust underlying growth in the world’s biggest economy as it swung back from a weather affected 2.1 per cent fall in the first quarter.

This post was published at Global Economic Analysis on August 29, 2014.

“Valuation Is The Market’s Biggest Headwind”

Yesterday, as the S&P closed above 2,000 for the first time, mainstream media pundits were trotted out to proclaim that either “stocks are ‘fairly’ valued” or “stocks are cheap” and the “money on the sidelines” must come in now. Aside from the ‘idiocy’ of the last comment, we thought BMO’s Jack Ablin’s comments were of note. “Valuation is the market’s biggest headwind,’ he wrote, adding that sales ‘have to catch up’ for stocks to sustain the rally. One glimpse at the following chart and it is clear that not only are stocks “not cheap” or “not fair” they are extremely rich with the only fall-back now being that “they’re not as expensive as they were at the top of the biggest bubble in stocks ever.”

This post was published at Zero Hedge on 08/27/2014.

Is This A Gold And Silver Bear Market Or A Correction In A Secular Uptrend?

Does the following contrast sound familiar to you? Mainstream media headlines, mostly based on either mainstream economists or large financial institutions, report continuously how weak the precious metals market is; they hasten to remember readers how the bull market had burst in 2011 and that much lower prices are just around the corner. In their view, after peaking in 2011, gold and silver are in a clear bear market. On the other hand, writers and analysts that are non-mainstream (most of them non-Keynesian) consider today’s gold and silver market as a long correction in a gigantic secular uptrend; they expect (much) higher prices in the years to come. The interesting thing is that everyone is looking at the same data and charts.
The key question is whether the gold market is correcting in a secular trend or the bear market is here to stay(till the next cycle starts).
In order to answer that question, the team at ShortSideOfLong did an excellent job comparing the ongoing correction in gold and silver with previous corrections. Based on purely chart observations it seems feasible (with a high probability) to come to a reliable answer. One should note that the data in the following two charts come from the period after 1971, as that was the year when gold started to trade in a ‘free market’ (after US President Nixon closed the gold window on August 16th 1971).
The first chart shows different gold bear markets since 1971. The conclusions from the chart come from the analysts at ShortSideOfLong:

This post was published at GoldSilverWorlds on August 23, 2014

Events Impacting The Gold And Silver Price In The Week Of August 25th

Although the primary focus of this website is to report on the different aspects of the gold market (gold fundamentals as well as economic or monetary analysis), we also tend to release basic technical analysis in gold and silver. As of this week, we will also summarize the key events at the start of each week that are likely to impact the price of gold and silver price.
We hasten to add that our view on the real price setting in the gold and silver market differs from the mainstream view. Price changes happen to coincide with events or announcements; mainstream media are used to report a relationship between both. However, we believe, and owe this insight to our readers, that the real price setting for the time being is taking place in the COMEX futures market. Market expert Ted Butler does an outstanding job analyzing the weekly evolution in the COMEX market and how it affects price setting…

This post was published at GoldSilverWorlds on August 25, 2014