A rational person might ask, why is the US government aggressively going after the soldiers themselves, who accepted a bonus to re-enlist and actually served again in a war, putting themselves in harm's way, in good faith?
If there was active collusion to defraud it should be prosecuted, but if not, why make the soldiers pay the price?
If there is a problem why are they not addressing it with the local government officials who may have offered the bonuses in error to achieve the ends demanded by the powers that be in Washington?
It is because the soldiers, who faithfully served their country and kept their end of the deal, are the most vulnerable. They are individually weak, and not equipped to lawyer up and fight back against legalistic injustice.
Does the US government really need the money from those soldiers? The bonuses obviously mean a lot to their lives and those of their families, but is just a drop in the bucket to the technocratic war machine.
Click through for the full article. A very worthy read.
By Turd Ferguson | Friday, October 21, 2016 at 1:13 pm As we've been monitoring all year, the total amount of gold allegedly "delivered" through the Comex has soared in 2016. This is simply another anecdotal datapoint of gold demand but the trend is certainly noteworthy, particularly when you see the numbers thus far in October.
We've already written about this trend several times this year. Our most recent article is linked below and I strongly encourage you to read this post as a refresher before you continue.
http://www.tfmetalsreport.com/blog/7770/curious-pattern-comex-deliveries As noted in the post above, 2016 has seen a very unusual "delivery" pattern for gold on the Comex. Consistent with surging open interest and surging demand for gold in all its forms around the world, "deliveries" of gold through the Comex have increased as well. However, when you compare "deliveries" for 2016 versus 2015, you'll notice that the divergence and increase didn't really begin in earnest until June if this year.
This is a worthy read. Click over for the full post.
Volatility is waiting to explode due to unstable currency exchange rates, bank liquidity crises, geopolitical uncertainty, and a wild U.S. election cycle.
One or more of these potential sources of instability are ready to pop-up on the markets like a tightly jammed jack-in-the-box when someone unlocks the lid. The key to profits is to understand how to use volatility as a trading strategy. If you act now, you could reap huge rewards in a matter of weeks.
Most investors have some familiarity with trading specific instruments such as stocks, bonds, and gold. Investors also understand how options can be used to limit losses, and increase gains on trades involving those underlying instruments.
Mirror, mirror on the wall, which asset is most mispriced of all? According to a Goldman Sachs alum who predicted the financial crisis in 2008, it’s gold.
The precious metal should be a lot more expensive when the likelihood of a global financial collapse and a move toward negative interest rates is accounted for, says Global Macro Investor founder Raoul Pal, who now sees a U.S. recession within 12 months.
Recent losses for gold may have dented investor confidence. Gold GCZ6, +0.82% is up 18% this year, but the first full week of October marked its worst seven-day performance in over three years; it also posted a three-month loss of nearly 6% on a continuous basis.
Uncertainty about Brexit and the timing of a Federal Reserve rate hike triggered a rush into the dollar, which often moves inversely to the metal. (Higher rates can work against gold, but the metal becomes a safe haven if the economy slows.)
“As we get to negative interest rates, gold is a good place to park your cash,” said Pal, who discussed his outlook with MarketWatch in a September interview and a follow-up conversation over email. ...
Building from my latest Don’t Get Caught in the U.S – China Crossfire – Game of Thrones Part I (click here) and Part II (click here) featured on The Daily Reckoning – find a Game of Thrones layout of the central banking game of power.
The Fed, led by Janet Yellen, is acting as if it will retain its power forever simply because it’s currently the most power player in the game of global monetary policy. As stated at the beginning of Part I, the Fed behaves as if it has no idea that there are other countries and central banks operating around the world which would love to claim the top power spot.
The People’s Bank of China (PBoC) doesn’t have to convince these other central bankers that it is the best candidate to take over that top spot, it only has to be the best alternative to the Fed. Under the Fed’s monetary lead, stock markets have reached historic highs on a steady diet of artificial money.
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Macroeconomic analyst Rob Kirby has wealthy global connections. He says forget about the recent takedown in precious metals because his sources don’t think anything paper will survive the upcoming financial meltdown. Kirby explains, “The commentary that I get from people with much higher pay grades than me is that, in the end, the only thing that will stand is physical metal gold and silver. They say all paper will burn.” Kirby goes on to confirm that “stocks, bonds and pensions” will be toast.
When is this going to happen is the trillion dollar question. HSBC just put out a “red alert” to its clients of a “severe fall” coming for stocks.
Be sure to click through for the full video interview.
A collapse can happen at any time due to the scale, density and inherent instability of the financial system. The immediate cause of such a sudden loss of confidence is unknowable.
It could be a war, natural disaster or epidemic. It could also be a less visible dynamic such as a change in the amount of liquidity a small group of investors wants that cascades out of control. Markets will go “no bid” as asset bubbles burst all around.
The cause doesn’t matter. What matters is that it can happen quickly. None of us will know the hour or the day. Your only safe haven is to prepare now and be vigilant for indications and warnings.
Samsung's Galaxy Battery Just the Tip of the Iceberg
Though the Samsung Galaxy Note 7 battery problem is presently receiving a tremendous amount of media and public attention, what few appreciate is that it is only the tip of the iceberg of cracks in the global supply chained as a result of unintended consequences of central bank monetary policies. In this 35 minute video Gordon T Long and Charles Hugh Smith begin 'pealing the onion' on a deteriorating global supply chain and what the root cause is. Economists have been preoccupied since the 2008 Financial Crisis with stimulating economic growth through policies which attempt to create Demand. It is debatable whether these Keynesian stimulus programs have succeeded, but what isn't debatable is that cheap money has exploded global supply!
By John Hathaway, Tocqueville Gold Fund October 11 (King World News) – The precious metals markets have clearly turned the corner … following the extensive and painful correction from August 2011 to year-end 2015. … Despite the impressive year-to-date advance, we believe this cycle is still in its infancy, and that it promises to be extremely powerful…
The only way to govern successfully is to actually solve the underlying systemic problems, but doing that requires overthrowing a corrupt, self-serving elite. Regardless of who wins the presidency, a much larger question looms: will the U.S. be ungovernable 2017-2020? There are multiple sources of the question.
One is of course the remarkable unpopularity of the two candidates for the presidency. For all the reasons that are tiresomely familiar, whomever wins the presidency will remain deeply unpopular with roughly 40% of the adult populace.
I know it's bad form to express sympathy for the people running the world's central banks. But come on, they're human beings in an impossible spot with no idea how to escape. The pain they feel is both intense and legitimate, and we should respond with at least a bit of empathy.
Just kidding. It's schadenfreude all the way down.
The Fed in particular has painted itself into a very tight corner with its never-ending threats to raise interest rates while the rest of the world is still cutting. Millions of words have been written about its reasons for behaving this way and the difficulties of the road it has chosen. But for now it's enough to note that Yellen et al are still at it, dropping hints that come October rates are really, seriously going up because the US is a healthy, well-run country whose borrowers should borrow more and whose voters should reward incumbent politicians with four more years! ...
Renowned investment advisor Catherine Austin Fitts says there is $9.3 trillion missing from the Department of Defense in 2015 alone. Fitts explains, “This is a phenomenal number and a phenomenal amount of money. This is the cut and run. All this money has been disappearing from the federal government. . . . I’ve been demanding to know what banks and contractors are liable for the systems. We are talking about transactions that are in violation of the Constitution and the laws related to financial management. . . . As I have described many times, they’re using financial securities fraud, both mortgage securities and, I believe, government securities to basically shift all the assets out (of the country). I think you’ve got a game going on, and the Fed is accommodating all sorts of securities fraud. Then, the money is being pulled out in a variety of ways.”
Click through for the full video interview. Always worth a listen.
Posted on October 26, 2016 by Gary Christenson Our financial systems create exponential increases in:
Debt Prices for stocks Prices for commodities Currency in circulation Prices for gold and silver Why? Fractional reserve banking, central banks creating more currency, and politicians who spend governments deeper into debt each year… but this article isn’t about why.
Student loan debt in the U.S. is about $1.4 trillion, auto debt is about $1 trillion, official national debt is nearly $20 trillion, corporate debt is huge and the list goes on. Much of it will never be paid in current dollars. Default will occur via repudiation or hyperinflation.
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Investment advisor Catherine Austin Fitts is backing Donald Trump. Fitts explains, “Michael Moore said in an interview that Donald Trump is a Molotov cocktail you can throw on the system. Interestingly enough, if you look at the federal system, it has a negative return on investment to taxpayers. If you believe you can never fix that, then throwing a Molotov cocktail into the middle of that is the most intelligent thing you can do for productivity. It was when I wrote the theme for productivity for the second quarter wrap-up I realized . . . I may have profound disagreements with Trump’s style, but I can throw the Molotov cocktail (voting for Trump). . . . I was going to vote for Gary Johnson, but in the second debate when Trump said I will appoint a special prosecutor, I stood up and cheered. For the first time, we were talking about real accountability in America. Then, when he said if I were the President, you’d be in jail, I said that’s it, I am giving money to Donald Trump because that is the first time I have ever seen someone of national prominence on corporate media hold the leadership accountable for their actions.”
Click through for the video interview. Always worth a listen to Catherine Fits.
The U.S. peasantry has been stripmined exactly like the powerless colonial peasantry in the old colonial model.
In my latest interview with Max Keiser, Max asked a question of fundamental importance: (I paraphrase, as the interview has not yet been posted): now that the current iteration of capitalism has occupied every corner of the globe, where can it expand to for its "growth"? My answer: neocolonialism, my term for the financialized quasi-colonial exploitation of the home domestic population. I described this dynamic in The E.U., Neofeudalism and the Neocolonial-Financialization Model(May 24, 2012).
Brimming with hubris and self-importance, the ruling Elite and mainstream media cannot believe they have lost the consent of the governed. Every ruling Elite needs the consent of the governed: even autocracies, dictatorships and corporatocracies ultimately rule with the consent, however grudging, of the governed. The American ruling Elite has lost the consent of the governed. This reality is being masked by the mainstream media, mouthpiece of the ruling class, which is ceaselessly promoting two false narratives: 1. The "great divide" in American politics is between left and right, Democrat/Republican 2. The ruling Elite has delivered "prosperity" not just to the privileged few but to the unprivileged many they govern.
This post is intended to remind you that this case is not about the present and it's not about the $38MM dollars. Instead, the true significance of this lawsuit will be on display over the coming months and years as innumerable new class action lawsuits are filed against The Bullion Banks for their collective role in rigging and manipulating the precious metals markets.
First, some links. Here's the news item from yesterday released by Reuters and a comprehensive write-up from Zerohedge:
China Quietly Increasing Its Global Dominance Stephen Leeb: “In a fairly lackluster week for the markets, the only news that seemed to arouse any response was China trade data. The headline numbers reported that, contrary to expectations, both Chinese exports and imports had declined in September compared to year-earlier levels, with exports dropping by more than 10 percent in dollar terms. Stock and commodity markets in the West fell in response, believing the numbers signified Chinese weakness that would hurt global growth…
The Federal Reserve today released the minutes from its September FOMC meeting. Within the minutes, one can find a most-curious concern by officials … one that I think is quite revealing.
That concern is that their own hesitance to hike interest rates this year could lead to a recession.
Yes, you read that right.
After nearly a year since the 25-basis-point hike in December (the first in some seven years), the Fed is undergoing an internal debate about the possibility of future rate hikes and their ability to knock the economy back into recession.
The concern was raised by the so-called "hawkish" members of the FOMC, three of whom voted to hike rates by 25 basis points at the September meeting.
That few believe Mr. Market can possibly stumble only increases the odds of a stumble. 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.
Click through for the rest. The rest of this year may have a lot of ugly surprises for us.
Not only will Fed policy not fix what's broken, it will actively make the structural problems worse. Yesterday I described the conditions that render the U.S. ungovernable. Here is a chart of why the U.S. economy will also be ungovernable. Longtime readers are acquainted with the S-curve model of expansion, maturity, stagnation and decline. This is why the economy will be ungovernable: all the financial gambits that have been played to create the illusion of "prosperity" have reached stagnation/decline.
Central bank market intervention doesn't extinguish risk--it simply transfers it to the system itself. The unspoken claim of central bank policy is that risk can be extinguished by intervention/manipulation: once the Fed has your back, i.e. is supporting the market, risk disappears, and the easy profits flow to those who buy the dips with supreme confidence in the Fed's ability to magically turn risk-assets into risk-free assets.
Unfortunately for the credulous investors who believe this, risk cannot be extinguished, it can only be transferred to others or to the system itself.
On Thursday gold continued to drift lower following Tuesday's crash through the $1,300 an ounce level to its lowest since June, before the Brexit vote lit a fire under the metal.
In early trade December futures trading on the Comex market in New York touched a low of $1,265.10 an ounce, the fifth down day in a row.
Diego Parilla, managing director and head of commodities at Old Mutual Global Investors, told Bloomberg's Rishaad Salamat on Trending Business, that the bubble in government debt and equities, the extended period of very low and now negative interest rates in developed markets could only end in pain for investors.
“When the system is rigged, when ordinary citizens are powerless, and when whistle-blowers are pariahs at best, three things happen. First, the worst people rise to the top. They behave appallingly, and they wreak havoc. Second, people who could make productive contributions to society are incented to become destructive, because corruption is far more lucrative than honest work. And third, everyone else pays, both economically and emotionally; people become cynical, selfish, and fatalistic. Often they go along with the system, but they hate themselves for it. They play the game to survive and feed their families, but both they and society suffer.”
Charles H. Ferguson, Inside Job
Gold and silver were hammered lower today, with gold losing 3.2% and silver 5.2%.
The dollar moved much higher as you can see from the chart below.
Click through for the rest and all the chart glory.
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