Must Read of the Day – ‘The Most Important WikiLeaks Revelation’

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As many people have accurately noted, what’s far more important than the President him or herself, is the people who end up surrounding the executive. These are the people who will formulate and implement various policies of national importance, particularly when it comes to enforcing, or not enforcing, the rule of law (Justice Department) and whether or not to start yet another war (Congress has abdicated its Constitutional role).

Indeed, appointing Eric Holder to head up the Department of Justice guaranteed that Wall Street criminals would never be prosecuted and led to America’s justice system rapidly devolving into Banana Republic territory.

So how did Obama end up choosing the various banker-coddling professional cronies to make up his administration? The Wikileaks Podesta email leak shines a very disturbing light upon the process, which was led by then Citigroup executive, Michael Froman. Moreover, as current U.S. trade representative, this ex-TBTF bank executive is currently the nation’s top proponent of the sovereignty-killing Trans Pacific Partnership (TPP) agreement.

Read more here.

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Ending a Taking Economy and Creating a Giving Economy (Part 1)

Ending a Taking Economy and Creating a Giving Economy: Confronting the Zero Interest Rate Policy (ZIRP) and Taking Effective Action by Zeus Yiamouyiannis (guest essay)


The world can no longer afford a taking economy, where “make a killing” is the motto. Together we need to create a giving and sharing economy that helps us all “make a living.” This essay will unveil the present unjust and unworkable economic system that punishes responsibility and rewards fraud. It then outlines the implications for the average person, and ends with new, powerful, and practical principles and visions driven by the emergence of connected communities. This 2-part essay brings together many of the ideas I will be discussing in a new series on Transforming Economy on Gaia TV.

First, we need to become factually aware of “where we are now.” This allows us to take active responsibility as aware citizens without simply blaming ourselves for our personal and collective situation. In doing this we have to be courageous enough to learn about the unfair realities that surround us without capitulating to helplessness.

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“Gold Is A Great Hedge Against Politicians” – Goldman

“Gold Is A Great Hedge Against Politicians” – Goldman Sachs

Gold has risen another 1.7% in British pound terms this week and is 1.8% higher in euro terms and is again acting as a hedge against currency devaluations, Brexit, eurozone and heightened political and geo-political risk in the UK, EU, U.S. and most of the world.

Gold is marginally higher in dollar terms this week after surging on the open in Asia on Sunday night. Gold quickly rose 1% from $1,251/oz to $1,264/oz as China and the Shanghai Gold Exchange (SGE) began trading again after being closed for the Chinese Golden Week.

Since then gold prices moved lower despite the return of the world’s largest gold buyer – India – as seen in the return of gold premiums in the Indian gold market. Gold in dollar terms is now marginally higher for the week.

Goldman Sachs has long been the most vocal, prominent and widely quoted bear in the gold market. However, in recent weeks there is a marked change in their tune and they are now bullish on gold in the medium and long term. They are concerned about further price weakness in the short term as we run into year end but believe this will be a buying opportunity.

Goldman is now saying that the precious metal will be good to own in an environment of “political uncertainty” ahead of the November elections. Read full story…

The Next Phase of Bitcoin Will Be The Consumer One


What started as an anonymous experiment went on to become disruptive and transformative. With greater smartphone penetration it is evident that…

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[KR979] Keiser Report: Hillary Speeches

We discuss the Wikileaks #PodestaEmails documents which shed some light on why a self-described not very charismatic speaker is paid so much for her speeches… to bankers and brokers. Max talks to entrepreneur Sinclair Skinner (@SkinnerLiber8ed) of BitMari about the startup and crypto landscape in Africa and about the Clinton Foundation’s role in Haiti.

Where Will All the Money Go When All Three Market Bubbles Pop?

Everyone who’s not paid to be in denial knows stocks, bonds and real estate are in bubbles of one sort or another. Real estate is either an echo bubble or a bubble that exceeds the previous bubble, depending on how attractive the market is to hot-money investors.

Here’s a look at the inflation-adjusted S&P 500 (SPX) and margin debt: yep, a bubble.

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Irish Retailers Face 10%-19% Unilever Price Hikes

Musgraves, owner of indigenous (Republic of Ireland) retail chains such as SuperValu and Centra and wholesaler of branded groceries and household products to sole traders have issued a statement to the Irish media stating that Unilever is ‘seeking significant price increases ranging from 10% to 19%.’
 ‘Musgrave has baulked at the price increases and Unilever is refusing to honour orders from Musgrave.’

Musgraves said the this afternoon that the fall in Stg should actually translate into price reductions rather than increases for Irish customers who use the Euro currency.

Reading between the lines it seems Unilever, in part, might just be ‘chancing their arm’, as we say here in Ireland.

The other explanation is that we receive goods from Unilever’s UK hub and are thus subject to UK price increases. states

‘In a statement this afternoon, Super Valu noted that the fall in the value of sterling could benefit Irish customers but that the company is being asked to accept “an unjustified price increase” by Unilever.

“In light of the recent fall in sterling, we have been actively working with relevant suppliers to ensure that savings are passed onto consumers. It is important to note that these discussions are ongoing,” the company said, adding that the dispute could lead to supply issues.
Due to our refusal to accept what we consider to be an unjustified price increase, we may experience some supply issues on certain Unilever products. Negotiations with Unilever, however, are continuing and we are examining all options open to us.

The company goes on to state that it believes a price decrease is warranted rather than a price increase.

Irish retailers join Tesco in Unilever price row

Irish slang – chance the arm

Sell Gold Now – Time To Liquidate Gold ETF, Pooled and Digital Gold

Sell Gold Now – A Note from GoldCore CEO Stephen Flood

It has never been more important to own gold as part of a diversified portfolio. The form your gold investment takes is just as important as owning it in the first place. ETFs and pooled gold may not be functional in extreme markets and may themselves be subject to systemic risk events.

Fifty gram gold bars sit across a one kilo gold bar at bullion dealers Goldcore, in London, U.K., on Thursday, March 11, 2010. Gold priced in euros reached a record on March 5 as investors, concerned that a Greek debt default may devalue the currency, purchased the metal as an alternative asset. Photographer: Chris Ratcliffe/Bloomberg

Fifty gram gold bars sit across a one kilo gold bar at bullion dealers Goldcore, in London, U.K., on Thursday, March 11, 2010. Photographer: Chris Ratcliffe/Bloomberg

We are living in extraordinary times and key to any investment plan that can weather the coming global financial storm is access to all important – liquidity.

Traditional market liquidity is drying up. Increasingly dark pools are hoovering up equity and FX volumes. Markets are becoming disjointed and prone to large wild swings. Central banks are entering the market on political mandates as opposed to a search for yield, algorithmic investors are untested in bear markets and likely unprepared. The table is set for significant disruption and systemic damage. Your gold investment may not be accessible nor liquid in times extremis. Read full story…

Brazil Needs Bitcoin. Badly

Recession stricken Brazil is the world’s seventh largest economy with a population of 207.8 million and GDP of US$1.775 trillion. Brazil’s worst recession in recent history continued as rising

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Please Assume Crash Positions

You know how to get into crash positions, correct? Here’s your guide:

Very few punters expect a real downturn here in stocks. The reasons for confidence are many: the Fed has our back, buy the dip has worked great and will continue to work great, the Fed won’t raise rates until December (if ever), the Powers That Be will keep the market aloft lest a plunging market upset the election of the status quo candidate, and so on.

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Gold In GBP Up 43% YTD – “Massive Twin Deficits” To Impact UK Assets

Gold in GBP has risen another 3.5% in the last 3 trading days as the British pound continues to be “pounded” on international markets. Gold in GBP terms is now 43% higher year to date and has risen from £716/oz on January 1st to £1024/oz today.

Sterling is now the worst performing major currency in 2016 and gold the best.

sterling_gold_brexitGold in GBP (10 Years)

The pound has completed its worst four day performance since Brexit and the pound remains considerably weaker versus the dollar, euro and gold since the Conservative Party conference, when Theresa May promised to trigger article 50 within six months.

Heavy losses sent sterling down by another 2 per cent yesterday to below $1.21 against the dollar, while against the euro, the pound fell below €1.10.

The pound has bounced back a little today but market participants are increasingly alarmed at the political prospect of a severe rupture between the UK and EU. All the focus has been on the real risks posed by a “Hard Brexit” but another major risk is being greatly underestimated. There is also the significant risk posed by the very poor financial situation that the UK finds itself in – with its massive twin deficits.

HSBC’s respected currency analyst David Bloom warned in a note:

“the question we have asked hundreds of investors throughout the world is do you want to buy a currency that has massive twin deficits with an unknown political direction and for that risk you can get zero rates?”

UK gilts have come under selling pressure in recent days and the yield on the 10 year is now at 1.03%.

The UK current account and budget deficits combined are around 10% of UK GDP. The UK budget shortfall was 33.8 billion pounds ($44 billion) in the first five months of the 2016-17 fiscal year. The UK budget deficit for August alone was £10.5 billion, higher than economists forecast.

Kit Juckes at Societe Generale in London warns that the demise of the UK currency could soon start…..

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Thanks Obama – My Healthcare Plan Was Just Canceled

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Interestingly enough, as much as I didn’t like my healthcare plan, I was planning on keeping it. Until I received a letter telling me I couldn’t from United Healthcare. Indeed, they weren’t too subtle about the entire thing, making it perfectly clear what was about to happen.

Not exactly the best way to start your week. As I proceeded to flip though the 10 page letter, I was directed to what United Healthcare deemed to be a comparable plan for me in 2017. Here’s how that plan compares to my current plan.

Premium payments: +30%
Per person deductible: +160%
Per person out of pocket maximum: +4.5%
Primary physician copay: +85%
Specialist copay: +115%

Read more here.

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