Blog Archives

CRACKS IN THE BOND MARKET – Jim Willie Warns US Debt Default DEAD AHEAD

collapseForeign USTreasury Bond dumping continues, and even accelerates.  China and the Saudis are selling USTreasurys in a near panic.  Foreign central banks liquidated a record $375 billion in USGovt debt in the last 12 months. An American disaster lies in the making from debt saturation, debt overload, and debt dumping. It is all denied by the Washington mouthpieces and the Wall Street handlers, as they lie.
The USGovt debt default is within view, dead ahead.

Click Here For Jim Willie’s Full Hat Trick Letter On US Debt Default DEAD AHEAD:

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Buy Silver – May Replace Gold Money In India

Buy Silver – May Replace Gold as Preferred Money of India
Silver replacing gold as India’s preferred investment option again after 100 years?

by Fergal O’Connor, Senior Lecturer in Finance, University of York

The Indian government has been trying to reduce its citizens’ demand for imported gold through a number of means over the last few years. This is part of a wider crackdown on currency used in the black market, that included the withdrawal and replacement of its two largest-denomination bank notes in early November. The strategy will likely have some unintended consequences if we take our cues from the events of 1910.

India-gold-silverGrowth in Indian gold and silver jewellery demand. Thomson Reuters GFMS Gold 2016 and Silver Survey 2016

Indians’ famous love for gold has created serious and ongoing economic issues for the nation. In 2011, Australian investment bank Macquarie estimated that 78% of India’s household savings were held in gold.

In effect, this means that India has a dual currency system where people choose to save mostly in gold rather than rupees. This is unlike any other major economy and begs the question: how do you wean a population off a precious metal?

Read full story here…

[KR1002] Keiser Report: Restoring Faith in Capitalism

We discuss restoring faith in capitalism with executive pay curbs as the ‘let them eat cake’ of the neoliberal era. In the second half Max continues his interview with Lyle Estill, president and co-founder of Piedmont Biofuels and author of Small is Possible, to talk about a world in which small is big business.

Additional Thoughts on “Fake News,” The Washington Post, and the Absence of Real Journalism

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On November 25, 2016, for the first time in my life, I became a part of the news as opposed to reporting on it. Of course, what I am referring to is the slanderous and amateurishly researched article published in The Washington Post claiming Russia used “fake news” websites to promote government propaganda during the U.S. Presidential election. The article was appropriately savaged by several of America’s leading political thinkers and writers…

Read the rest here.

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‘Big 4’ step up the Bitcoin game, EY accepts Bitcoin in Switzerland

On Wednesday, September 7th this year, ‘Big Four’ accounting firm Deloitte has opened its first operational bitcoin ATM. The opening was quiet and took place in the downtown Toronto offices of Deloitte’s Rubix blockchain division.

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Our “Gaslight” Financial System

The terms gaslight and gaslighting are entering the political media lexicon, with partisans of both parties accusing the other side’s candidate of gaslighting in the presidential election. The terms refers to the 1944 film Gaslight in which Charles Boyer subtly manipulates the environment to cause Ingrid Bergman to question her memory and sanity.

Generally speaking, gaslighting has been used in the context of personal relationships to describe a manipulative person’s attempts to undermine and control their romantic partner.

As I understand it, gaslighting refers to a specific set of manipulative techniques:

1. Questioning, belittling, discounting and undermining our experience of places and events.

2. Overwriting our memory of events with false memories, again by undermining, questioning and belittling our memories.

3. Discrediting and marginalizing our definitions of self and identity, in favor of the manipulator’s definition of our identity and place in the world.

4. Using authority and “experts” to disqualify and discredit dissenting views.

5. Denigrate and deny our lived experience and memory by repeating the institutionalized authority-approved narrative of “what actually happened.”

6. Disorient, discredit and destroy dissent with a torrent of false statistics, false narratives, false accusations and false claims of our errors.

Correspondent C.D. suggests gaslighting can be applied to the entire financial system. Here are his comments in reference to last week’s post Beyond Income Inequality:

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Shariah Gold Standard Approved for $2 Trillion Islamic Finance Market

Shariah Gold Standard Approved for $2 Trillion Islamic Finance Market

by Jan Skoyles, Editor Mark O’Byrne

The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and the World Gold Council have made an important decision which was announced yesterday at the World Islamic Banking Conference in Bahrain.

This decision is about one of the most important markets in the world: the gold market, an invest-able market worth an estimated $2.4 trillion and is also of significance for the world of Islamic finance.

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The AAOIFI, in collaboration with the World Gold Council (WGC) and Amanie Advisors, has approved what will become known as the Shariah Gold Standard. This is a set of guidelines that will expand the variety and use of gold-based products in Islamic Finance.

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Meet Chinese Education Companies — How U.S. Colleges Sell Enrollment to the Highest Bidders

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This past Friday, Reuters published one of the most important articles I’ve read in a while relative to the attention being paid to the issue. It details a streamlined practice through which Chinese “education” companies essentially bribe college admissions officers at top U.S. universities to accept tuition paying Chinese students. It’d be bad enough if these students were actually qualified, but in many cases these companies complete the entirety of the applications for the students, including writing their essays. It’s not uncommon for these student-clients to never see their own applications.

Read the rest here.

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A Disintegrative Winter: The Debt and Anti-Status Quo Super-Cycle Has Turned

How would you describe the social mood of the nation and world? Would anti-Establishment, anti-status quo, and anti-globalization be a good start? How about choking on fast-rising debt? Would stagnant growth, stagnant wages be a fair description? Or how about rising wealth/income inequality? Wouldn’t rising disunity and political polarization be accurate?

These are all characteristics of the long-wave social-economic cycle that is entering the disintegrative (winter) phase. Souring social mood, loss of purchasing power, stagnating wages, rising inequality, devaluing currencies, rising debt, political polarization and elite disunity are all manifestations of this phase.

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Potential “Systemic Crisis In Eurozone” After Italy Votes No, Renzi Resigns

Italy Votes No, Renzi Resigns – Potential “Systemic Crisis In Eurozone”

Italy’s Prime Minister Matteo Renzi has said he will officially resign Monday, after voters apparently rejected his proposals for constitutional reform. What should investors keep an eye out for after his defeat?

Although the referendum on Sunday was officially on Renzi’s plan for legislative overhaul, it was widely seen in Italy as a vote of confidence in the prime minister and his government. In voting “no” — projections suggest 59% of those in the ballot made that choice — the Italians have set the stage for an early election and perhaps given local populist parties the chance to deliver a Brexit- or Trump-style shake-up.

But if the political uncertainty lasts, the fallout from the vote could have an effect not only within Italy — on its already embattled banks, for instance — but also beyond the borders of the boot-shaped country.

Read full story here…

The Weighted Average Cost Of Capital

Rising-Rates

The ‘bond vigilantes’ may have just returned…

Recent increases in Treasury yields are mathematically going to create a cascade of falling prices among bonds, stock, real estate and any asset with an income stream.

Read the full article here

[KR1001] Keiser Report: Neoliberalism Strikes Back

We discuss neoliberalism “striking back” as China gets to have a plan: one that involves buying up German high tech companies. In the second half, Max visits Piedmont Biofuels, a community-scale biodiesel project in Pittsboro, North Carolina, to talk to its president and co-founder, Lyle Estill.