[KR944] Keiser Report: Escaping America

We talk first to Jeff Berwick of the Dollar Vigilante about Americans renouncing their citizenship as a solution to bank embargoes and double taxation. In the second half, we chat to Susanne Tarkowski Tempelhof, founder of BitNation – the world’s first virtual nation, a blockchain powered jurisdiction – about ending geographical apartheid in the digital and crypto age.


Making The Wrong Choices For The Wrong Reasons

cliff-men-falling-167355740
The human mind can be its own worst enemy. Humans often place belief over reason, even when the evidence clearly shows the belief is faulty and deleterious to our welfare.
The ZIRP/NIRP policies currently being implemented by the world’s central bankers are a glaring example of such a flawed belief system. The bankers’ refusal to revise their reckless beliefs in the face of mounting warning signs is why we’re on a collision course with a massive financial crisis:

Gold to $1500 By October? – Fund Manager Explains Why

1500goldPM Fund Manager Dave Kranzler Joins the Show This Week, Discussing:

  • Manipulators Losing Control? Silver’s Up 23% Since June!
  • Record Amount of Paper is Being Thrown at Gold and Silver to Keep Them From Going Parabolic!
  • Why the Fund Manager Would “Not Be Surprised to See Gold at $1500 By October”
  • Buy Any Sell-Off – Kranzler Explains Why It’s Impossible to Time a Manipulated Market

Click Here For Weekly Metals and Markets With PM Fund Manager Dave Kranzler:

DOC’S GOLD & SILVER MARKET UPDATE:

With gold prices easing over the past week, most of the products that had been in tight supply such as 2016 Gold Maples and 1 oz Gold RCM Bars are now readily available.  Sales of 2016 Gold Eagles remain strong with 1,100,500 coins sold year to date between the 1 oz, 1/2 oz, 1/4 oz, and 1/10 th oz coins. These numbers do not include Gold Buffalo coins, which add another 120,5000 oz to the US Mint’s sales numbers. 

In Silver:

With premiums near half-decade lows on 90% Junk Silver Coins, demand has surged at the retail level.  Big money buyers have been scooping up 90% in a big way, as evidenced by a single SD Bullion customer who took down 30 $1,000 face value bags this week.

What the heck is going on with 2016 Silver Eagle sales?  The US Mint announced the end of Silver Eagle allocations Monday, meaning Silver Eagle coins could be purchased in any quantity desired by the AP’s for the first time in 13 months. 

The Mint is reporting a whopping 1,195,000 Silver Eagle coins sold for the entire month of July to date – with only 500,000 coins sold this week in the first week after silver eagle allocations ended.  This brings year to date Silver Eagle coin sales to 27,445,500. 

Physical demand at the retail level has been extraordinary in both gold and particularly silver coins at SD Bullion over the past week.  SD Bullion is already nearing an all-time record sales month in July, even surpassing the epic demand experienced during Q3 of 2015.  

If this type of demand continues (or even accelerates) as the summer progresses once gold heads towards $1500 and silver clears $22 and begins shooting towards $26/oz, it will be interesting to see how long the wholesalers and Authorized Purchasers can keep precious metals and particularly silver bars and coins in inventory when the momentum crowd joins the fun and the market is no longer only die-hard gold and silver bugs.

The Week’s Top Silver News Stories

The Week’s Top Gold News Stories

Tagged with: ,

Thoughts on Trump’s Speech (Why I Can’t Vote for Him and Why He Could Win)

Screen Shot 2016-07-22 at 9.39.33 AM

I just finished watching Trump’s entire acceptance speech and I have all sorts of thoughts to share. Let’s start with the overall picture. First, the speech confirmed all the reasons I cannot support Trump, but also further solidified why I think it’s very possible that he will win and become President. The speech was disturbing on multiple levels, while at the same time brilliant from a manipulative and salesmanship standpoint. He held my attention for the entire 75 minutes. Can you imagine for a moment Hillary doing the same thing? Yes, it matters.

Read the rest here.

Tagged with: , , , , ,

Is Gold Set To Hit $1,500 Per Ounce?

Rising macroeconomic risks, low real interest rates, and a decline in the dollar versus emerging market currencies are major price catalysts for gold.

Since hitting its high of over $1,900 an ounce in 2011 after a 12 year bull run, gold fell steadily until 2015 when it reached a low near $1,000. However, this year alone we have seen a 25% increase in the yellow metal. It hit a high of $1,370 pre-Brexit and while this new bull run seems to be currently taking a breather, many analysts feel that there is still plenty of steam left in this rally.

An article in Forbes today cites continued stimulus measures by Central Banks and the current under-bought nature of gold as being indicative of a prolonged rally to come for gold.

You can read the full article here 


Could This Rally Be a Head-Fake?

Let’s say you wanted to engineer a stock market rally that triggered every technical “buy” signal and wiped out those who are short the market–what would you do? First, you’d engineer a new all-time high to signal “all clear for further advances.”

Then you’d crush volatility as measured by the VIX, signaling that there is nothing standing in the way of more advances.

Next, you’d engineer new highs every day for a week or more.

To do this, you’d unleash a wave of strong buying at every bit of “good news,” no matter how jury-rigged, to trigger computer-trading buying: bogus earnings “beats,” any M&A activity, rumors of more stimulus in Japan, a pop up in crude oil, etc.–whatever could be construed as even modestly good news.

This entire rally has an engineered feel. All the technical “buy” signals are precisely what you’d expect in a rigged rally.

The rally’s strength is reminiscent of the 1999-2000 Internet-era stock market, but compare the fundamental backdrop of then and now. Back then, earnings, sales, profits and employment were all up strongly globally, and China and the emerging markets were experiencing trade-based organic (i.e. not the result of central bank stimulus) expansion.

Can the same be said of the present? No. Employment is stagnant once low-paying part-time jobs are stripped out of official cheerleading statistics, and corporate profits are sliding–especially if “one-time charges” and other accounting trickery are stripped out.

As for global trade–it’s stagnant or down. Whatever “growth” is officially reported is either suspect or based on unsustainable expansion of private credit or central bank/state stimulus. Consider the following chart: three major economies out of five are already experiencing declining private credit, and China’s rocket-like trajectory is clearly unsustainable:

The list of global financial weaknesses and potential crises is long and varied. 2016 is not 1999.

If there’s nothing supporting this rally but euphoric sentiment arising from orchestrated buying, any eruption of reality will reveal the rally as a head-fake:having exterminated short-sellers, there won’t be many who will benefit should the rally be transformed into a rout by reality.

My new book is #10 on Kindle short reads -> politics and social science: Why Our Status Quo Failed and Is Beyond Reform ($3.95 Kindle ebook, $8.95 print edition) For more, please visit the book’s website.

Tagged with: , ,

Older Financial Institutions Are “Losing Their Shine” To Nimble and Smarter FinTech Startups

Fintech Bitcoin IRA

Introduction

The financial services industry is a highly regulated, highly technical, and highly traditional industry where ancient companies reign supreme and new entrants do not have good odds of survival. The Internet and the rise of the digital age have disrupted the old order in the financial services industry and now, FinTech is threatening the existence of traditional financial institutions.

FinTech broadly refers to the act of exploiting digital technology to provide products and services that traditional banks typically offer. FinTech companies are able to offer the financial services with innovations, a faster processing time (sometimes in real time) and at a cheaper cost than traditional financial institutions.

An overview of the performance of bank stocks

Bank stocks have started to face strong headwinds since UK voted to leave the EU. Now, investors are worried that the decline in bank stocks bears an uncanny resemblance to the collapses of traditional financial institutions in the eve of the 2008 global economic meltdown

Christopher Whalen, senior managing director with Kroll Bond Rating Agency in a report covered by CNN observed that “The disruption to commercial and legal structures caused by the extraordinary legal process that looms ahead will… cause systemic contagion à la Lehman Brothers as some analysts have worried.”  Whalen also observes that one of the pitfalls of Brexit is “a slowdown in economic activity that could materially impact volumes and earnings in the global banking industry.”

Read more ›


KR943] Keiser Report: Revolving Doors

We talk first to former banker, now author, Nomi Prins, about a solution to the revolving door between Wall Street and DC. We discuss whether or not Hillary Clinton’s highly paid speeches to Goldman Sachs matter and whether or not Wall Street expects anything in return for its contributions to her campaign. In the second half, we talk to UK activist Tina Rothery about fracking being forced upon the people of North Yorkshire, who have overwhelmingly expressed their resistance to the ‘controversial’ natural gas and oil extraction method. We ask what the solution is going forward when elected officials choose corporations over populations.


Why Italy’s bank crisis could be a ‘ticking time bomb’

Just as the dust begins to settle on Brexit, Italy’s banking system looms as the next threat to global financial markets.

Previous attempts to resolve Italy’s banking sector woes have proven to be less than effective. Non Performing Loans on the balance sheets of Italian banks represent over 8% of the total loan portfolios. However some analyst fear that this is set to grow to a whopping 15% in the near future.

Results of a stress tests by the European Banking Authority due on July 29 are expected to shed more light on the capital needs of the Italian banking sector, potentially serving as a spark to renewed financial turmoil.

While foreign exposure to Italian banks is relatively low, the bigger worry is that a backlash over a bailout leads voters to revolt, empowering the euroskeptic 5 Star Movement, a political party that is growing in poularity, which has called for a referendum on eurozone membership.

Could we be moving from Brexit to Italeave?

You can read the full article here 


Podcast: the #PanamaPapers scoop journalists, and #Brexit: what does it mean for tax justice?

In the July 2016 Tax Justice Network podcast:

Hello. This is John Doe. Interested in data? I’m happy to share.‘ We talk to the two journalists who got the Panama Papers scoop, Bastian Obermayer and Frederik Obermaier who’ve written a book about their experience.

Plus: what does Brexit mean for tax justice? We discuss the F4 (unholy) alliance between Switzerland, Hong Kong, Singapore and the UK, and the accelerated corporate tax race to the bottom.

‘Unfortunately there is the world people like you and me are living in and there is a second world, a parallel world, the offshore world where people with enough money will always find possibilities to hide their money…there are people out there choosing which law they want to stick to and that is a problem for democracy.’

Frederik Obermaier

‘I am very clear about what would happen if you take away the secrecy, if you take away the anonymity. I am completely sure that the whole system would crash because why would they go to the British Virgin Islands for a company when you can see who owns it? You know, it’s not rocket science.’

Bastian Obermayer

Post-Brexit: ‘I think that Britain’s likely development strategy will be to actually deepen its tax haven role sitting offshore Europe.’

John Christensen

Featuring: The Tax Justice Network’s John Christensen, Bastian Obermayer and Frederik Obermaier of the Sudduetsche Zeitung newspaper and authors of the new book: The Panama Papers: Breaking the Story of How the Rich and Powerful Hide Their Money. Produced and presented by Naomi Fowler for the Tax Justice Network. Also available on iTunes.

You can subscribe to our youtube channel or email Naomi [at] taxjustice.net to be added to the subscriber email list, or subscribe to the Taxcast on our rss feed. You can also follow The Taxcast and the Tax Justice Network on twitter.

Join us on facebook https://www.facebook.com/TaxJusticeNetwork

Home websites: www.tackletaxhavens.com/taxcast www.taxjustice.net/taxcast

Tagged with: , , ,

The Real Reason Pharma Companies Hate Medical Marijuana (It Works)

Screen Shot 2016-07-20 at 1.13.31 PM

Whenever an irrational and inhumane law remains on the books far longer than any thinking person would consider appropriate, there’s usually one reason behind it: money.

Unsurprisingly, the continued federal prohibition on marijuana and its absurd classification as a Schedule 1 drug is no exception. Thankfully, a recent study published in the journal Health Affairs shows us exactly why pharmaceutical companies are one of the leading voices against medical marijuana. It has nothing to do with healthcare and everything to do with corporate greed.

Read more here.

Tagged with: , , , , ,

What is a Bitcoin IRA?

What is a Bitcoin IRA

A Bitcoin IRA or Digital Currency IRA is an Individual Retirement Account in which Bitcoin or other approved digital currencies are held in custody for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds the popular digital currency, bitcoin, in custodian managed wallets. Bitcoin IRAs are usually self-directedIRAs, a type of IRA where the custodian allows more diverse investments to be held in the account.

The Bitcoin IRA model is similar to Gold, which is one of the more popular self-directed IRAs and can include other types of retirement accounts such as, Roth IRAs, SEP IRA, SIMPLE IRA, HSA, Thrift Savings Plan (TSP), and 401(k)s.

Investors often use bitcoin as a long-term hedge against inflation, to diversify their portfolio. Internal Revenue Code requirements state that the bitcoin must be stored in a specific manner.

Bitcoin IRA, bills themselves as America’s #1 Bitcoin IRA Provider and they manged to meet the IRS requirements by partnering with BitGo and Kingdom Trust. BitGo is the industry leader in multi-sig security, full custody and multi-user access controls and Kingdom Trust offers Self-Directed IRA solutions for individual investors, investment sponsors, family offices, advisory firms and broker-dealers.

Bitcoin IRA provides a Free Bitcoin Investor Kit for United States residents.

Read more ›