We discuss mind carnage in the markets as price discovery goes astray due to market intervention, and the rise of vigilante groups around the world looking for Rolex watch and Gucci belt wearing politicians. In the second half, Max interviews businessman, radio show host and anarchist, Jeff Berwick, about becoming a taxpayer, living in Mexico as a tourist and the ending of the drug wars.
In this week’s Metals & Markets, The Doc & Eric Dubin break down the ECB’s massive €60 billion a month QE announcement Thursday, and discuss whats next for the global markets and gold & silver in particular:
Gold & silver’s strong January continues with silver $4 off its lows and gold nearly $200 off its December lows
Cartel setting metals up for a Classic Gold & Silver raid on next week’s options expiry and January FOMC statement!
Why Fed will soon begin backpedaling on rate hikes,may announce QE4 by Q4!
Cartel raid likely won’t last-Why gold is likely to rise by 20% at a minimum in 2015- and COULD DOUBLE!
Offshore vs football in the January 2015 Taxcast: how offshore is ruining the ‘Beautiful Game’ – the Taxcast scrutinises football’s own goal. Also: how banks with criminal convictions are being allowed to continue to handle your money, how people may be allowed to apply for anonymity in the UK’s new register of beneficial owners of companies to be introduced in 2016, and the meeting of the world’s most powerful in that bastion of transparency, Davos, Switzerland. Plus more scandal and unique analysis.
“if we’re shifting competition away from the athleticism, the skill, the talent of the players and into the skill and talent of accountants, lawyers, bankers and board room executives, then the sport becomes a pointless thing to go and watch.’
State-owned oil companies that don’t slash expenses to align with revenues and boost critical investment in the infrastructure needed to maintain production will suffer financial extinction.
Domestic and international energy companies are responding to the 50% decline in the price of oil by doing what’s necessary to remain in business: they’re slashing payroll, postponing capital investments, delaying new projects and soliciting price cuts from suppliers and subcontractors.
This is the discipline of profit-driven capitalism: if expenses exceed revenues, profits vanish, losses pile up, capital contracts and eventually the company runs out of cash (and access to credit) and closes down.
Unfortunately for state-owned oil companies, the feedback of expenses, losses and access to credit are superceded by the need to feed hordes of parasites: the state-owned company exists not to generate profits but to fund large payrolls and support state officials and cronies.
And, on the same day, US regulators claim it is RT a mouthpiece for ISIS and Boko Haram. This is jump the shark territory, but the numskull audience in the US hardly knows where Russia is on a map, heck they don’t even know where their own country is on the map, but whatever.
“We are facing a number of challenges from entities like Russia Today which is out there pushing a point of view, the Islamic State in the Middle East and groups like Boko Haram, “ he said. “But I firmly believe that this agency has a role to play in facing those challenges.”
British journalist Douglas Murray provides a brilliant example of how to push back against a perverse narrative, after the Paris murders of journalists (and subsequent to this interview, Jews) by fundamentalist Muslims.
Murray begins by rejecting the premise of the first question posed by the Al Jazeera host, and he continues to appropriately frame the narrative from there.
Al Jazeera Host: “Do you think this attack will underscore the message of the far right in Europe, at least, of the incompatibility of Islam and the West or Western values?”
Douglas Murray: “That’s a pretty atrocious question if I may say so. We’re about 24 hours away from twelve people being gunned down in a newspaper office in the center of Paris in a European city, because they offended, allegedly, Islamic blasphemy laws. Blasphemy laws which France, Britain, and other European countries do not have, and do not believe in, and do not follow.”
“And for you to turn the question immediately, not on the people who have been massacred because of asserting their rights as European French citizens, but on to the alleged terrible discrimination of the French, is really quite despicable.”
The QE programme is even larger than expected at €60 billion every month rather than the €50 billion that had been expected. The euro fell another 0.9 per cent against the dollar to an 11-year low and has shed another 1% versus the Swiss franc. Gold was nearly 1% higher in dollar and sterling terms also. Read more ›
We are so brainwashed by centralized models of state authority that few can even imagine a system where the solution is not one centralized monstrosity ruled by a political/financial Aristocracy but a competing profusion of opt-in, transparent solutions.
Many readers ask me for solutions to the current arrangement’s many ills. Seeking solutions is a healthy and positive direction, for highlighting what’s broken is not only much easier than proposing solutions, it’s a dead-end. Pointing out what’s broken is only the first step in crafting solutions.
But I’ve noticed that what most people want is not a real solution–they simply want what’s easy, which means leaving the Status Quo in place but magically making it cheaper and more convenient for them. If the solution requires inconvenience, getting less, accepting more responsibility and making major trade-offs–then it can’t be a solution because politicos have overpromised for so many decades that people expect everything to get cheaper (for them, not the system) and easier (for them, not the system).
Paul Weston explains why fundamentalist Muslims have been at war with each other and with non-Muslims for centuries. He also explains why widespread rape and so-called “marriage” of prepubescent and underage girls persists along with honor killings. Weston also brings up the systemic rapes of underage girls that continued for years in Rotherham, England. He compares politicians’ denial to George Orwell’s 1984. Weston debunks the narrative that recent violent acts have nothing to do with Islam. Having witnessed first-hand the reality that is fundamentalist Islam, I can attest that everything he says is true.
Peace-loving Muslims do not follow the rules and they are technically apostates and heretics. I do not deny peace-loving Muslims exist. On the contrary, I was married to a secular non-practicing Muslim who was indeed peace-loving, but neither of us had any illusions that fundamentalist Islam is anything but a bellicose, supremacist, female-hostile, non-Muslim-hositle, non-my-paricular-Islamlic-sect-hostile ideology.