And we are off to a blazing start on “Shemitah” Monday!
The Dow was down more than 1,000 points (1,089.42 to be exact – or nearly 7% – again with the 7’s!) within minutes of the opening of trading. This came after Black Monday had already occurred in the rest of the world with the Chinese Shanghai Composite Index down 8% on Monday and stocks in Japan, Taiwan, Hong Kong, South Korea, and Australia all posting big losses. Stocks are also down significantly in major European markets. Read more ›
Are we seeing market capitulation? Wall Street joined the China crash party last friday. Not only China, also US stock market had become detached from the reality of our economy. People who sold their houses to invest in stocks, they’re finished! This crash is not a capitulation, it is the beginning of the end of many banksters. We see evidence that the economy is slowing relatively fast. People have chosen to get out of the market. But why this happened? Here is a list of the factors that led to the stock market crash of 24 August 2015: The factors that led to the stock market crash of 24 August 2015
“As for gold and silver, these markets are both REALLY tight if you want the physical metal. If you are trading paper metal …oh well, can’t help you.
This is the Great Credit Unwind and as such, currencies of all sorts, including the dollar, will take turns crashing. Watch the various sovereign treasury prices and yields (also CDS credit default swaps) as a clue to which country is experiencing an “attack du jour”.
Gold and silver will be your only lifeboats as they are no one’s liability in a world where everything including the money in your pocket is someone else’s liability.”
Jim Sinclair is one of the most respected experts on the gold market in the world and he released this important warning to his community over the weekend.
DAILY PRICES Today’s Gold Prices: USD 1,153.50, EUR 1,005.93 and GBP 734.40 per ounce. Friday’s Gold Prices: USD 1,149.35, EUR 1,021.33 and GBP 732.75 per ounce. (LBMA AM)
Gold in USD – 1 Week On Friday, gold rose as high as $1161.67 in New York and ended with a gain of 0.64%. Silver slipped to as low as $15.14 and ended with a loss of 1.29%. Gold was 4% higher for the week and made strong gains in all major currencies. Silver was also higher, but by just 0.41% for the week. Gold stayed close to its highest level in almost seven weeks today as worries over a slowing Chinese economy pushed investors away from risky assets such as equities and into safe haven assets.
Asian equities tumbled to three-year lows, the U.S. dollar retreated and industrial commodities from copper to oil slid to their weakest since 2009. The Chinese stock market collapsed another 8.5% and the Nikkei was 4.6% lower.
The credit bubble has been identified, recognized and “pricked”, the equity markets are only a symptom. Do not be fooled by any strength this coming week,it should be used to raise cash.
As September moves in,the September-October time-frame looks like a disaster.
What may start out as circuit breakers being hit now, will ultimately be the plugs yanked out over the next couple of months. I believea market closure is in our near term future. Gold and silver will be yourONLY lifeboats…
The global deflationary wave we have been tracking since last fall is picking up steam. This is the natural and unavoidable aftereffect of a global liquidity bubble brought to you courtesy of the world’s main central banks. What goes up must come down — and that’s especially true for the world’s many poorly-constructed financial bubbles, built out of nothing more than gauzy narratives and inflated with hopium.
As we’ve been warning for a long time, you cannot print your way to prosperity, you can only delay the inevitable by trading time for elevation. Now, instead of finding ourselves saddled with $155 trillion of global debt as we did in 2008, we’re entering this next crisis with $200 trillion on the books and interest rates already stuck at zero. We are 30 feet up the ladder instead of 10 and it’s a long way down.
We discuss Miami’s fear of that good old capitalist thing – competition – coming from Cuba. The city is struggling to find sand in order to compete with the finer beaches of their new friend and competitor. In the second half, Max interviews Steve Dibert of MFI-Miami.com about mojitos, fraud arbitrage and whatever happened to Mers.
The credit BUST is here! Markets all over the world are crashing and the U.S. is now losing control.
After breaking down yesterday, today looks to be another bad day. If the PPT cannot get any traction today,Monday could be a disaster. The failure will be spectacular. In as few words as possible,we are witnessing a credit collapse.
We discuss the $32 trillion in pointless trading each and every year, which results in bankers and brokers getting rich at the expense of churned chumps. In the second half, Max interviews Janet Tavakoli of Tavakoli Structured Finance about the latest use of derivatives to transfer wealth from the general fool public.
Central bankers are watching Marx’s dictum all that is solid melts into air play out in global stock markets with a terror informed by the scalding memories of 2008’s global financial meltdown.
Once the trap-door opens, there is no bottom without prompt action by the world’s Plunge Protection Teams–the plausible-deniability action heroes of the hyper-speculative status quo who leap into action when global stock markets threaten to melt down.
After half a decade of ceaseless saves, we all know the mechanics of Plunge Protection.