Blog Archives

Trump and Clinton Are “Positive For Gold” – $1,900/oz by End of Year

Trump or Clinton are “positive for gold” and prices could rise to between $1,700 and $1,900 per ounce by year end according to Canadian gold mining magnate Rob McEwen.

Gold “is a currency that doesn’t have a liability attached to it,” McEwen said Tuesday in an interview with Bloomberg at a gold conference in Colorado Springs.

trump clinton goldRobert McEwen Photographer: Victor J. Blue/Bloomberg

“A store of value that has gone for millennia. And the big argument against gold used to be it costs you money to store it. Right now, it’s costing you money to store your cash.” Read full story…

[KR969] Keiser Report: Privilege of Unfairness for Bankers

We discuss the lessons from Calvin of Calvin & Hobbes fame on the exorbitant privilege of unfairness for bankers. We look at the game theory behind Deutsche Bank’s too big to fail, too broke to punish sweet spot as it attempts to ‘negotiate’ with the U.S. Department of Justice. In the second half, Max interviews precious metals expert, Ned Naylor-Leyland of Old Mutual Global Investors about gold – the original denominator – and about return-free risk in the negative yielding bond markets.

More Troubling Evidence That Hillary Clinton Will Start WW3 – Part 2

Screen Shot 2016-09-20 at 2.16.34 PM

Here’s the most concerning part…

Putin, a former KGB agent, “doesn’t have a soul,” Clinton quipped on the eve of the 2008 New Hampshire presidential primary, riffing off of President George W. Bush’s comment seven years earlier that he had looked into Putin’s eyes and seen his soul.

The Russian leader retorted: “At a minimum, a head of state should have a head.”

Is this the sort of starting point you want from a new U.S. President? There’s a reason so many genuine progressives and liberals can’t stomach Hillary Clinton and refuse to vote for her. Sure, there’s the rampant embrace of cronyism and incessant oligarch coddling, but there’s also her penchant for bloodthirsty militarism.

Read more here.

Tagged with: , , , , ,

Credit Card Companies Are Keeping Consumers Hooked with Irresistible Perks and Bonuses

Credit Card Companies Are Keeping Consumers Hooked

Consumers are becoming more financially savvy, all thanks to the explosion of personal finance blogs that cater to different categories of people. One of the most profound wisdom nuggets in the personal finance industry is the need for people to reduce their dependency on credit cards in order to cut down credit card debts.

(more…)

The ZIRP/NIRP Gods and their PhD Priesthood Have Failed

Let’s start with a simple chart of the Fed Funds Rate, which the Federal Reserve has pinned near zero for years. This Zero Rate Interest Policy (ZIRP) is the god the PhD economists in the Fed and other central banks worship as the supreme force in the Universe, along with its even more severe sibling god, NIRP (negative interest rate policy), which demands that banks and depositors must pay for the privilege of holding cash.

Precisely what have ZIRP and NIRP fixed in the global economy? The short answer is “nothing.” Instead of fixing what’s broken, ZIRP and NIRP have pushed a broken system further along the path of self-destruction.

(more…)

Tagged with: , ,

Gold ‘Bugs’ Rejoice – Central Banks Think You’re On To Something

Central Banks Gold Diversification Ongoing – “Sensible Precaution”

by John Stepek, Editor of Money Week

Central banks have got the economy and markets covered.

They know what they’re doing. Their theories are backed up by decades of academic research and expert advice.

160920-gold-vaults-b-1024x576Queen Elizabeth inspecting gold bars in Bank of England. Source: Money Week

Expert advice, as we all know, is completely apolitical, changes rarely, and never, ever does a complete U-turn, like – I don’t know – telling us all to start eating butter after years of telling us not to, or something crazy like that.

So why worry? I mean, what kind of deluded neurotic doom-monger would keep hanging onto gold (as insurance, of all things!) in their portfolio with people of this calibre in charge?

Well, I hate to break this to you, but…

Guess who’s buying lots of gold?

Central banks are piling into gold. They have been ever since the financial crisis blew up in 2008.

In fact, says a new report from the OMFIF (Official Monetary and Financial Institutions Forum) research group, central banks have been buying gold at a rate of 350 tonnes a year for the last eight years. That takes us back to the sorts of levels we saw in the pre-1970 era.

OMFIF has looked at central bank behaviour and gold buying going back over more than a century (back to 1871, in fact). It’s broken it down into seven “ages of gold’. There’s some interesting stuff in there, but I’ll only go back as far as post-World War II this morning, as that’s the most relevant to today’s topic.

So the fourth age of gold – 1945 to 1973 – covers the Bretton Woods era, during which gold reserves were rising, notes David Marsh of OMFIF, “with European countries and Japan amassing sizeable new post-war holdings as central banks exchanged surplus dollars for gold from the US Treasury”.

Indeed, between 1950 and 1965, central banks and treasuries bought up more than 7,000 tonnes of gold. Read full story…

UPDATE: Synereo raises $2.3 Million to Fix the Internet

Synereo

The Internet is not so Free

Today the internet is the most critical tool that people use to communicate with.  All of us have been doing it with the help of familiar middlemen, or should I say companies like Gmail, Slack, Dropbox, Hipchat and a million other web based programs or apps that are used daily.

Internet companies have been providing these so called “FREE” services in exchange for our privacy. They store our personal data and use it to generate PROFIT. Internet users that have been consuming, creating and sharing content had no other choice than to give up their privacy and go through these intermediaries. Until now.

Enter Synereo

Inspired by Bitcoin’s Blockchain, the Synereo platform is the only platform that allows any application to exist entirely without a centralized server. Synereo’s mission is to build a truly free Internet, one that cannot be censored, taken down or corrupted. Billed as a next-gen blockchain, with speeds and levels of trust far greater than anything that exists today, Synereo hopes to play a huge role in the emerging decentralized economy.

Synereo’s smart contracting language, Rholang, with its formal semantics and strong behavioral types allows developers to write less code with more security. As more Synereo Decentralized Apps (dApps) are built and the ecosystem evolves we will start to see many of our favorite sites recreated on the Synereo platform.

Synereo reaching Critical Mass with OpenLedger

To help us get to a more free and fair internet sooner, Synereo has an accompanying cryptocurrency called AMP, it compensates users for contributing storage, computation, and bandwidth to the network; fueling the underlying decentralized servers.

Synereo_Content-motion

The Synereo platform is incentivizing participation through AMP rewards, and OpenLedger was one of the first platforms to rally their users with an innovative content machine called the Obits 500 Bloggers’ Club. As content gets produced for the OpenLedger startup ecosystem, the material will start to be shared on social media.  This will accelerate Synereo’s growth as it is looking to add as many users as possible.

Integrating AMP rewards for promoting OpenLedger projects will yield huge scales of economy when it comes to cross promotion as a part of community activities.  If users are rewarded AMPs for popular social media posts, the emphasis will be placed on producing quality content.

Investing in Synereo

Synereo’s fundraising campaign is listed on BnkToTheFuture.com, the online investment platform for financial innovation and technology investment opportunities. Qualifying investors can invest in, and receive shares of, Synereo LTD. BnkToTheFuture allows you to invest in Synereo LTD via Credit Card, Bank Transfer, Bitcoin, and a variety of Altcoins.

Synereo Fundraising

Additional Bonus for Synereo Participants

As a special bonus to all readers throughout the crowdfunding campaign, OpenLedger offers 10 OBITS in exchange to all signups using the following link. You can claim them by sending 1 AMP* to the account on OpenLedger named: synereo.

*on OpenLedger all deposited AMPs are showing on the platform as OPEN.AMP

Copy trading apps provide investment guidance without using a broker

copy trading apps

Are you sitting on the sidelines of financial markets because you feel that you lack the confidence and expertise to invest your money? Such sentiment is very common, especially among the younger generation.

In fact, 93 percent of those born between 1980 and 2000 say that both distrust of markets and lack of investing knowledge make them less confident, according to a Capital One ShareBuilder survey.

These feelings of inadequacy are not surprising given that many in this generation experienced the Great Recession during their formative years and continue to be bombarded with constant news coverage of market volatility in relation to the United Kingdom’s Brexit vote, the calamity that is the current U.S. election and other events beyond their control. (more…)

Jim Willie On End of Fascist Business Model and Return to the Gold Standard

The Fascist Business Model incorporates all the worse elements of Keynesian economics, a broken fallacious school of thought. The model also integrates a vast system of economic heresy, put forth as public address dogma. All their messages are wrong. They are instead aligned with support of the power structure where big banks conduct self-dealing and print money for themselves.

Consider many of the Fascist Business Model messages, laced within the endless din of propaganda. Their messages are all false, in support of the existing power structure in place. The Jackass privately calls it Reich Economics, a truly broken appendix to the demonstrably broken Keynesian chapters of heretical economics. The West has followed the methods of John Maynard Keynes, who also held disdain for the Gold Standard. In doing so, the West has destroyed the financial platforms, eroded the capital formation devices, polluted the business arenas, and put the entire USEconomy at risk of systemic failure.

The only success of the model is preservation of power, which soon will come to an end.

Click Here For Jim Willie’s Latest Hat Trick Letter:

 

Consider the many primary tenets of what the Jackass disparagingly calls Reich Economics, the phony standards of destructive economic and financial practices. They are all embedded in heresy. The public and financial professionals are coerced to accept the heresies as dogma, passed on by the high priests at the USFed and Wall Street banks. They are all highly destructive, yet widely accepted as valid and firmly in place.

 

ECONOMIC HERESIES

Quantitative Easing, the USFed initiative of bond purchases, is considered stimulus. It is not. Instead, it undermines the entire sovereign bond market. It encourages legitimate investors to dump USTreasury Bonds to the USFed itself, while other legitimate investors refuse to buy USTBonds. The effect is to force hedging against the hyper monetary inflation, to raise the cost structure, and to eliminate the profit margins. Entire businesses and business segments shut down, retire their capital, and slash jobs. QE saves the big banks by providing liquidity to insolvent financial structures. At the same time, by saving the Too Big To Fail banks, QE destroys the integrity of the entire USEconomy, if not the entire Western Economy.

 

Zero Interest Rate Policy is considered as a kick-start to the USEconomy, another stimulus. It is not. Instead, it distorts the price of money, distorts the financial market, and results in tremendous misallocation of capital. It also encourages a vast casino, whereby investors try to profit from anticipating the USFed itself. The nation has thus lost its way, unable or unwilling to pursue the correct fruitful path of capital formation, business creation, product development, job hiring, and profit generation. Worse, the entire industries of insurance and pensions are systematically destroyed, from the ultra-low interest rate. They cannot sustain their business models without the proper income from their books of business. Lastly, the ultra-low rate does not reward savers. Little known, the volume of consumer loans is much less than the volume of certificates of deposit at banks. Therefore, low rates slow the USEconomy, not stimulate it.  Silver Half Dollars As Low As $1.99/oz Over Spot!

 

The jobless rate is reported to be low. It is not. The actual figure for the Jobless Rate is taken directly from the state unemployment insurance rolls. When the Obama Admin two years ago stopped the 99-week extensions for recipients, the result was an immediate reduction in the jobless rate. Millions of people fell off the rolls, and were no longer considered unemployed. The Labor Participation Rate is the more accurate measure to follow. It is falling tragically, and supports the premise that the Jobless Rate is well over 20%.

 

The USEconomy is always reported to be in a sluggish recovery. It is not. By all accounts, it appears illegal for economists to claim a recession is in progress. They lose their jobs. The same goes for financial reports in the press and television broadcasts. They lose their jobs. Guests who mention recession are cut off. The reality is horribly painful. The USEconomy has been stuck in a vicious recession since 2007, of magnitude minus 4% to minus 6% every year on the Gross Domestic Product. The fiscal policy and monetary policy both contribute to the deterioration.

 

War spending is considered to lift the USEconomy with trickle down benefits. It is not. In fact, war spending is probably an order of magnitude more destructive than simple welfare payouts. The trickle down effect is destructive at every step. In a health environment, capital formation and development of products and services promotes a positive trickle down effect with streams of suppliers and efficiencies integrated. In war spending, explosions and killing are the name of the game. The trickle down is of destruction, ruin, and misery. The argument on reconstruction that follows the wartime activity is laughable. To be sure, some reconstruction takes place, but not sufficient in volume. Besides, the funds set aside for rebuilding are usually stolen by the Elites (see Kissinger, Clinton Foundation) while the Senators enjoy kickbacks.

 

The Too Big To Fail banks are considered essential to preserve. They are not. They are universally financial crime centers and criminal organizations. They are preserved at the expense of the USEconomy. The big US banks are in control of the USGovt, thus kept in positions of power. While the big US banks are kept in operation, the cost is heavy, since the USEconomy is permitted to degrade, deteriorate, and decay. The mantra should be that we save the big banks but killed the economy.

 

Federal deficit spending is considered to sustain long-term economic growth, and to avert recessionary spirals. It does not. Deficit spending is an accumulating disaster. In bad times, the deficits are enormous. In good times, the deficits remain sizeable. Over the long stretch of time, the deficits have made $20 trillion in unpayable debts which will never be repaid. The portion of foreign held USGovt debt went above the 50% level several years ago. Since the Lehman failure, foreign creditors have been secretly calling the shots, making many hidden decisions. The other hidden effect of the staggering federal debt is pressure to maintain the prevailing interest rate near zero. A normal rate of 5% would mean $1 trillion in annual borrowing cost alone. No discipline whatsoever exists in managing the deficits. Systemic breakdown and federal debt default are the result.

 

The sanctions imposed against Russia and Iran are reported as removing bad elements from integrated involvement in the Western Economy. It does not. The sanctions are designed to prevent the removal and abandonment of the USDollar as global currency reserve and global trade payment standard. The sanctions are motivated to sustain the King Dollar Court and to retain its global usage, which permits continued $trillion thefts by the banker cabal. To attempt a cutoff of Russia and Iran, two former historical empires, is both ambitious and impossible. They will both be integrated with the European Economy, as gas suppliers. The upshot will be more blowback against the United States, for its exception power plays and engrained corruption.

 

The central bank franchise system is considered as promoting economic growth, assuring financial stability, and encouraging employment. It does not. The system endorsed fake money, a debt based complex extravaganza of corrupt money. The system enables monetary creation by the bankers, ruin of the system by their invalid structure of money, then confiscation of assets by the creators of fake money. The central bank system sustains the banker power, which since 2001 has grabbed both the White House and the USCongress with its tentacles. The consequence of their century of rule with central bank pillbox controls has been Western Economic destruction and widespread big bank insolvency. Their continued plans are being interrupted.

 

The War on Terrorism is reported to keep America safe. It does not. The architects are the primary perpetrators of terrorism. They employ hidden tools with numerous mercenary groups, or simply hire the Mossad like in Paris, Brussels, and Nice. The fake war is to provide adequate smokescreen for rampant narcotics production, distribution, and integration within banking operations.

 

Expansion of the USDollar money supply is considered to lift the USEconomy and to enable its development. It does not. The bitter fruits of the Fascist Business Model cannot be seen more clearly in the fast falling Money Velocity graph. It is down almost 50% since QE was installed. The USD money supply has risen easily by double, yet the USEconomy is in tatters. In a most perverse manner, the new USDollars generated are a type of anti-matter in a financial sense. The pure unadulterated inflation is acid and destructive of capital and wealth engines.

 

NEW SCHEISS DOLLAR & GOLD TRADE STANDARD

In time, expect an eventual refusal by Eastern producing nations to accept USTreasury Bills in payment for trade.The IMF reversal decision assures this USTBill blockade in time, and might accelerate the timetable. The United States Govt cannot continue on five glaring fronts of gross negligence and major violations. These violations have prompted the BRICS & Alliance nations to hasten their development of diverse non-USD platforms toward the goal of displacing the USDollar while at the same time take steps toward the return of the Gold Standard.

The New Scheiss Dollar will arrive in order to assure continued import supply to the USEconomy. It will be given a 30% devaluation out of the gate, then many more devaluations of similar variety. The New Dollar will fail all foreign and Eastern scrutiny. The USGovt will be forced to react to USTBill rejection at the ports. The US must accommodate with the New Scheiss Dollar in order to assure import supply, and to alleviate the many stalemates to come. The United States finds itself on the slippery slope that leads to the Third World, a Jackass forecast that has been presented since Lehman fell (better described as killed by JPM and GSax). The only apparent alternative is for the United States Govt to lease a large amount of gold bullion (like 10,000 tons) from China in order to properly launch a gold-backed currency. Doing so would open the gates for a generation of commercial colonization, but actual progress in returning capitalism to the United States. The cost would be supply shortages to the USEconomy, a result of enormous export increases to China.

Click Here to Continue Reading Jim Willie’s Latest Hat Trick Letter:

Tagged with: , , , , ,

Central Bank Digital Currencies: A Revolution in Banking?

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).

But Ben Broadbent, Deputy Governor of the Bank of England, puts a more positive spin on it. He says Central Bank Digital Currencies could supplant the money now created by private banks through “fractional reserve” lending – and that means 97% of the circulating money supply. Rather than outlawing bank-created money, as money reformers have long urged, fractional reserve banking could be made obsolete simply by attrition, preempted by a better mousetrap. The need for negative interest rates could also be eliminated, by giving the central bank more direct tools for stimulating the economy. (more…)

Tagged with: , , ,

Fun with Fake Statistics: The 5% “Increase” in Median Household Income Is Pure Illusion

Supporters of the status quo nearly wet their pants with joy when the Census Bureau reported that real (adjusted for inflation) median household income rose 5.2% between 2014 and 2015. Too bad it was completely bogus: the supposed increase in everyone’s income is pure statistical trickery.

First, the marks who fell for it: here’s the Huffington Post wetting itself with glee: Average Americans Just Got a Huge Income Boost.

This headline is risibly wrong on a number of counts. Most importantly, a notch up in median household income doesn’t mean “average Americans Just Got a Huge Income Boost”: It means that half of households in 2015 earned more than $56,516 and half earned less than $56,516.

It does not mean every household saw a boost in income.

Please follow along as I show you how median household income works.

(more…)

Tagged with: , , ,

‘Hard’ Brexit Looms For Ireland

The risks that a ‘hard’ Brexit will have for Ireland has been outlined by economist Dan O’Brien. Having once worked for the European Commission as the EU mission’s economic and political affairs officer for Malta and having worked on a free trade deal, his opinions are worth noting.

BREXIT

O’Brien outlines the risks on the horizon in the Sunday Independent and the article is well worth a read as it highlights the risks posed by Brexit to the Irish economy.

“A hard Brexit is now the most probable of the possible outcomes, with all the negative consequences for this island that such a rupture would entail.”

‘Things go from bad to worse for Ireland as a ‘hard’ Brexit looms over the horizon’ can be read here