We discuss the soaring small business optimism which looks all euphoria, no action. In the second half Max interviews Reggie Middleton of BoomBustBlog.com about the T’rash to follow Trumphoria. They also discuss Trump’s tweeting industrial policy.
Sharia Standard May See Gold Surge In Value
“The introduction of a Sharia standard for gold will not only be good for investors but also for gold producing countries and even individual mining operations”, according to The National in an article published this morning.
“The new Sharia gold standard is very important as it allows Islamic investors to access and gain exposure to physical gold in a safer and more efficient manner,” says Mark O’Byrne, the executive director at the bullion trader GoldCore in London.
“It will increase the diversity of available Sharia gold-compliant investment products and spark greater emphasis on the role of physical gold coins and bars.”
GoldCore research shows that if just 1 per cent of Islamic finance goes into gold, demand could increase by up to an enormous 1,000 tonnes a year. Even if demand comes in at half that it means the gold market will undergo a considerable shake-up.
Last month the Sharia Standard was approved as a collaboration between the Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), the Islamic standard-setting body, and The World Gold Council (WGC) in London.
“We launched the standard to enable greater access to gold for the Islamic investment community,” says Natalie Dempster, the managing director, central banks and public policy at the WGC. Currently, the WGC is talking to Islamic financiers and product developers as well as scholars over how to put the standard into practice.
Much as it is in the rest of the world, gold has long played a role in Muslim society as a store of wealth and as a means to facilitate trade.
Above are excerpts from ‘Gold set to surge on Sharia standard’ which was published in The National today. The National is a government-owned English-language daily newspaper published in Abu Dhabi, United Arab Emirates (UAE). It can be read in full here
The best way to control the opposition is to lead it.
I am of the strong belief that any administration which comes into power in the current environment of nearly unrestrained executive authority, a lawless and sprawling intelligence agency complex, and a debt-driven, rent-seeking rewarding fraud economy should be assumed to represent a serious threat to the civil liberties and remaining freedoms of the American public. This would’ve been true under Hillary, and it’s also true under Trump.
Personally, I think Trump will be reacting to events outside of his control more than he will be controlling his own destiny given the extremely precarious point we are in during this geopolitical, cultural and economic cycle. This is a very dangerous period, and it will likely only get more dangerous as the years unfold. Not because of Trump, but because of the circumstances we have allowed ourselves to be boxed into as a people. As such, I fully understand and appreciate the role of non-violent protest and civil disobedience in the Trump era, just like I understood it and advocated for it during Obama’s transgressions.
Trump’s administration got off to a serious bang with the Women’s March over the weekend, which were unquestionably large events. While I think protest is important, and I don’t want to minimize the achievement of getting that many people out in the streets, there were many aspects of it that left a very foul taste in my mouth. Let’s start off with some of the people actively involved.
Read the rest here.
The source of the angry angst rippling through the Democratic Party’s progressive camp is not President Trump–it’s the complete collapse of the Left globally. To understand this collapse, we turn (once again) to Marx’s profound understanding of the state and capitalism.
We turn not to the cultural Marxism that is passingly familiar to Americans, but to Marx’s core economic analysis, which as Sartre noted, is only taught to discredit it.
Cultural Marxism draws as much from Engels as Marx. In today’s use, cultural Marxism describes the overt erosion of traditional values–the family, community, religious faith, property rights and limited central government–in favor of rootless Cosmopolitanism and an expansive, all-powerful central state that replaces community, faith and property rights with statist control mechanisms that enforce dependence on the state and a mindset that the individual is guilty of anti-state thinking until proven innocent by the state’s own rules.
Marx’s critique of capitalism is economic: capital and labor are in eternal conflict. In Marx’s analysis, capital has the upper hand until the internal contradictions of capitalism consume capital’s control from the inside.
Capital not only dominates labor, it also dominates the state. Thus the state-cartel version of capitalism that is dominant globally is not a coincidence or an outlier–it is the the only possible outcome of a system in which capital is the dominant force.
Gold price to 2 month high as fiery Trump declares New American Order
- ‘Trumponomics': Politics and economic policy in 140 characters
- The ‘intelligence’ according to Trump
- Trump, Putin and Russia – the great bromance
- Trump – Bull in a China shop
- Trade and currency wars with China and other nations
- Trump – Fan of gold and golden tweets
- Conclusion – Trump may be the ‘Golden Ticket’
by Jan Skoyles, Editor Mark O’Byrne
On Friday Donald J Trump became the 45th President of the United States of America.
Gold prices were surprisingly muted on Friday but did begin to rise towards the end of trading and rose from below $1,200 to over $1,212 per ounce before closing slightly lower at $,207.60 per ounce.
Gold is looking very healthy technically and has risen for four weeks in a row and reached a two month high this morning at $1,219.43 per ounce – its highest since November 22nd. According to Bloomberg holdings in gold-backed ETFs climbed for the fifth day in a row by 0.9 tons.
Gold is gaining on increasing investor concern about the Trump Presidency and uncertainty regarding what is set to be his radically different term in office. The dollar has continued to weaken as markets prepare for major changes to US trade, economic and foreign policies.
The British pound has hit a five week high, along with the yen and 10 year US Futures. Shares fell across most markets, the dollar fell 0.5%, which RBS Capital markets blame on “the lack of economic policy detail in President Trump’s inauguration speech coupled with concerns over his potential protectionist stance.”
The mainstream media appears to be in a meltdown, on a witch hunt for the purveyors of “fake news” who have undermined the alleged authority of the gatekeepers. Double Down talks to independent journalist, Tim Pool, about content, competition and the price point called “zero” driving the elite media into such a frenzy. Will throwing more money at the established press help them compete? Or will the guy or girl with a cell phone and a blog continue to dog them into the bankrupt conspiracy madhouse?
In conclusion, we need popular movements, we don’t need stupidity. If you don’t like Trump’s vision, you better have competing vision and be willing and able to articulate it. The status quo is dead. We are in a populist age, with tremendous opportunity to make the world a better place if we can take the moment and run with it. As it stands, the Democratic Party remains business as usual, and if it stays that way, will continue to lose election after election and become a increasingly irrelevant factor in American political life.
If you don’t want to be an irrelevant victim of history, the time is now to become involved in powerful political movements. This doesn’t include covering your ears, smashing windows and complaining about the Russians.
Read more here.
One unexamined narrative I keep hearing is: “OK, so neocon-neoliberalism was less than ideal, but Trump could be much worse.” Let’s start by asking: would Syrian civilians agree with this assessment? The basic idea in the “OK, so neocon-neoliberalism was less than ideal, but Trump could be much worse” narrative is that the modest problems created by neocon-neoliberalism will pale next to what Trump will do, implying jackbooted Waffen SS troops will soon be marching through America on Trump’s orders.
This narrative is yet another example of American parochialism: since neocon-neoliberalism didn’t cause American cities to be bombed and its institutions demolished, it’s really not that bad.
Try telling that to the Iraqis, Libyans and Syrians who have been on the receiving end of neocon-neoliberalism policies. The reality is very unpleasant: for those targeted by America’s neocon-neoliberalism, nothing worse is imaginable, because the worst has already happened.
The cold reality is America’s 25 years of neocon-neoliberalism has been great for the top 5% and an unmitigated disaster for everyone else in the U.S. and the nations it has targeted for intervention.
- Gold’s average gains in inauguration years of 15% since 1974
- First year of new President frequently a time of increased uncertainties and risks
- Gold rose 30% in the 12 months after Obama inauguration
– Massive political uncertainty – President’s conflict with the CIA
- ‘Strong dollar policy’ to end as U.S. has $120 trillion plus debt
- Trump inherits Bush and Obama’s humongous debt
Gold performs well in inauguration years (see table) and has seen average gains of 15% in inaugural years since the 1970s.
Given the degree of uncertainty, divisiveness and conflict that Trump’s election has already created – both in America and internationally, it seems almost certain that the many risks as President Trump takes power will lead to higher gold prices.
Besides the myriad of risks today and arguable the most uncertain geo-political situation since World War II or the height of the Cold War, gold investors and buyers can look to Presidential history, as gold has recorded has average gains of 15% in inaugural years since 1974.
This may be due to the fact that the first year of many administrations is frequently a time of significant change and increased uncertainties and risks. Markets are concerned that the US presidential handover and advent of President Trump will lead to volatility and turmoil in 2017 which will likely impact risk assets such as stocks.
At this point, I’ve seen enough. It’s becoming quite clear that Facebook’s Mark Zuckerberg wants to be President of these United States.
The topic first piqued my interest about a week ago when I read an article published at Vanity Fair titled, Will Mark Zuckerberg be Our Next President?…
Read the rest here.