ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 03 12:18

One third of children in Silicon Valley are homeless while tech profits soar

24-Hour Bus Sheltering Silicon Valley's Homeless

Jan 03 12:13

What 12 Financial Experts Predict for the Economy in 2017…It’s Ugly

What lies ahead for the economy this year? Will the economy finally collapse as predicted by many or will the early positive signs in stock markets around the world continue and the global economy will flourish?

I've taken a lot of heat for being "gloomy" and for "fear-mongering" lately when I've said that President-Elect Trump is inheriting a mess of epic proportions and that we may still be in for a rough financial ride. While I do think that Trump is a far better choice than Hillary Clinton ever could have been, when a situation has been declining as long as ours has, it would take an absolute miracle to turn it around without some pain.

And it turns out, I'm not alone in my concern about the worst for our economic situation during the upcoming year.

Here's what 12 prominent financial experts are predicting.

Jan 03 11:56

Indonesia Terminates All Business Relationships With JPMorgan After Downgrade

In what may be one of the most dramatic retaliations to a downgrade report, Indonesia’s government said it has terminated all business partnerships with JPMorgan Chase after the U.S. bank downgraded its outlook on stocks in Southeast Asia’s largest economy. The finance ministry announced it would stop using JPMorgan as a primary dealer and as an underwriter of its sovereign bonds, Robert Pakpahan, the ministry’s director-general for budget financing and risk management told reporters in Jakarta on Tuesday. The reason: Pakpahan said a November research report issued by the bank was not "accurate or credible."

JPMorgan downgraded Indonesia’s equity market by two notches to underweight from overweight in a Nov. 13 report as a “tactical response” to the Trump election win. The bank also downgraded Brazil, while noting that both countries may provide a "better buying opportunity” later, Bloomberg reported.

Jan 03 11:55

Beware the $52 TRILLION $USD Debt Bomb

Janet Yellen is playing a very dangerous game here. There is simply no logical explanation for what she’s doing here It’s madness.

A strong $USD hurts:

1) Corporate profits (47% of corporate sales from abroad).

2) GDP growth.

3) Bonds (debt deflation).

4) Mortgages and home refinancing.

5) US manufacturing.

And more.

Jan 03 11:55

New Law: Showers For Homeless Community College Students

A new state law intends to help homeless students in California graduate from community college by giving them access to showers.

Das Williams knows firsthand how tough it can be to stay in school when you don’t have a place to live.

"I was homeless when I went to Santa Barbara City College," says Williams, "and I can tell you that access to shower facilities can make a world of difference for keeping homeless students in school."

Jan 03 10:14

Ford cancels Mexico factory and invests in Michigan - and announces plan after Trump tells Chevy to build in America or 'pay big border tax'

Ford announced a $700 million investment and 700 new jobs in Michigan on Tuesday.

It cancelled its plans to build a $1.6 billion plant in Mexico for production of the Ford Focus and said it would build the next generation of the vehicle at an existing factory in the foreign country.

Ford CEO Mark Fields said at a news conference that the 'pro-growth' polices of President-elect Donald Trump and Republicans in Congress are encouraging.

Jan 03 10:13

Bill Holter: Expect Standard Of Living in U.S. to Drop by 30-50% (Video)

In the video below, Bill joins the X22 Report, and the first topic covered is the current banking crisis unfolding in Italy. Right now, Italian banks have an $8 billion shortfall to meet their capital requirements. More and more, investors are realizing that Italian banks are having solvency issues, as a result of their lack of liquidity.

Bill further explains that alarm bells should be sounding everywhere, because the problems the Italian banks are experiencing are emblematic of Western banking as a whole, but because our media and our politicians are so dishonest, many Americans are of the utterly false belief that a President Trump will be able to "right the economic ship," so to speak. They will be blindsided by the coming collapse.

Jan 03 09:50

U.S. Quietly Drops Bombshell: Wall Street Banks Have $2 Trillion European Exposure

Just 17 days from today, Donald Trump will be sworn in as the nation’s 45th President and deliver his inaugural address. Trump is expected to announce priorities in the areas of education, infrastructure, border security, the economy and curtailing the outsourcing of jobs. But Trump’s agenda will be derailed on all fronts if the big Wall Street banks blow up again as they did in 2008, dragging the U.S. economy into the ditch and requiring another massive taxpayer bailout from a nation already deeply in debt from the last banking crisis. According to a report quietly released by the U.S. Treasury’s Office of Financial Research less than two weeks before Christmas, another financial implosion on Wall Street can’t be ruled out.

Jan 03 09:45

Pound SURGES as Britain's manufacturing jumps to 30-month high

Sterling today strengthened by 0.6 per cent against the single currency to a 10 day high of €1.18.

It comes as manufacturing beat expectations to hit 56.1 in December, as measured by Markit/CIPS UK purchasing managers' index (PMI).

A reading above 50 indicates growth, economists had been expecting the index to come in at 53.3.

The sector was boosted by the weaker pound, helping to fuel demand for British exports.

Jan 03 08:47

George Soros Plotting ‘Financial Armageddon’ To Stop Trump

Frustrated by his failed attempts to control future US and world policy, George Soros has returned to what he knows best – market manipulation – in an attempt to stop Trump from dismantling meticulous plans for a New World Order.

Jan 03 08:19

War on all non-US cash expands to Greece with "soft cash ban" - Please note that while many nations are having a "war" on their cash, the use of US cash already rampant in the "Black (AKA: free) Market" will only increase.

What's the matter Bunky? Your old 5,000 Rupee Note was 'demonetized'? Your new 5,000 Rupee note is crumbling a day after coming out of the ATM? NO PROBLEM! Just trade them for a US Federal Reserve System $20 or $100 Note, and hide them under your bed for the next 20 years!
In this way, Hillary can print the Dog-Snot out of the US Dollar to pay for her war with Russia, and we in the USA wont feel any 'inflation! (What could go wrong?)

Jan 03 07:43

Washington Secretly Behind Cash Ban In India

The Obama administration were behind the recent ban on cash in India, which saw millions of citizens take to the streets in protest.

Jan 03 06:38

Kicking Money Out of Politics: Trump Boots Koch Brother from Golf Course

President-elect Donald Trump told a critical biographer and guest of billionaire David Koch to leave his West Palm Beach golf course on New Year’s Eve, forcing Koch to leave with him.

Trump’s gesture was another slight against the pro-amnesty, pro-“free trade” billionaire brothers Charles and David Koch, who opposed Trump during the Republican primary season and refused to help him during the general election. It also signals Trump will not necessarily play nice with the GOP political establishment and Beltway right.

Jan 02 17:28

2016: The Year of Russia’s Triumph – The Saker

2016 has been a fantastic year for Russia. Putin’s policy of slow, low-key and deliberate move and counter-move has proven to be extremely effective.

Just like European maps place Europe in the center of the planet, so do most western commentators look at the past year from a US/Europe-centered perspective. Which is fair enough. Furthermore, the AngloZionist Empire has just suffered two major disasters, the Brexit and the election of Trump.

The credit for the election of Donald Trump goes first and foremost to the American people to whom I sincerely believe the entire planet owe a heartfelt and loud “THANK YOU!!!!!”.

Not only did the British people defy the Empire and vote for a Brexit, but now the Imperial Homeland has “backstabbed” them by electing a patriot who is not interested in maintaining the global empire (or so he says, at least for the time being).

Jan 02 16:47

Obama Defends His Legacy on Twitter, But What Is He Really Going to Leave Behind?

You can easily compare politics to storytelling and fairytales. Storytellers use their talent, amazing vocabulary and writing skills, to depict a certain event and take you to the world of imagination.

Jan 02 15:06

Dave Collum: Worse Inflation Coming In 2017?

Jan 02 13:53

If the Road Ahead Is Dim, Prepare for Survival in a Broken America: “Hope For the Best Outcome”

A crash has been scripted and potentially scheduled for a pivotal time during the next administration; however, they could also kick the can down the road.

Here's what to prepare for...

Read more at SHTF

Jan 02 11:29

SICK TRUTH! NUMBER OF FOOD STAMP RECIPIENTS INCREASED BY 10.7 MILLION UNDER OBAMA

The number of food stamp recipients in the United States increased by a staggering 32 percent under President Obama, according to the latest statistics from the Department of Agriculture.

Jan 02 09:07

Gold: Getting There A Little At A Time

One of life’s hardest-to-learn but most necessary lessons is that things usually take a lot longer to work out than you’d like them to.

That’s where the sayings “Being too early is the same thing as being wrong” and “The market can stay irrational longer than you can stay solvent” come from.

Jan 02 09:04

Putin’s Bear to Obama’s Turkey

Putin's stoic statesmanship speaks for itself.

Not for the first time, the contrast in character between Putin and Obama was illustrated in the latest diplomatic spat over alleged Russian hacking.

For one thing, Putin’s gracious magnanimity always in the face of American provocations shows the Russian leader to be a fine statesman and human being; whereas Obama looks like a pathetic, cheap nonentity.

President Putin made a surprise attack:

He said that his government would not take retaliatory measures. Indeed, he went further by offering seasonal goodwill greetings to President Obama, his family and the people of America, as well as repeating invitations to the children of accredited US diplomats in Russia to festivities being held at the Kremlin.

Jan 02 09:01

Who Exactly Benefits from Italy’s Ballooning Bank Bailout?

All these events conform to a well established script.

Jan 02 08:58

Russia Delays Retaliation – Trump: “Great Move” By “Very Smart” Putin – Special Report

The bad losers Democrats are STILL shell shocked about the fact that they lost and are throwing a temper tantrum, trying to cloud President-elect Trump’s incoming policies.

The Truth is that the US as a nation need to now move past the NeoCon era, the warmonger era...

Jan 01 19:28

King Dollar could be topping out, says Joe Friday

Could the US Dollar be peaking at year end? It’s way too early to tell!

Jan 01 17:30

Why Is Germany Hoarding So Much Gold? - 410 Tonnes Repatriated In 2 Years!

Josh Sigurdson talks with author and economic analyst John Sneisen about Germany's hoarding of gold. In the past 2 years alone, Germany has repatriated 410 tonnes of gold.

Jan 01 17:15

Where the heck is Dow 20,000?

Over the last ten days, markets have been jinxed, and nearly everything changed direction.

Jan 01 16:52

Minimum Wage Rises In 19 States & DC, But Only Some Win Fight For $15/Hour

Nearly 12 million American workers ? mostly in California and New York ? will get pay raises on New Year’s Day, thanks to rising minimum wages in 19 states and in cities and counties. The $15 an hour will only apply to some workers in Seattle, Washington.

The highest statewide minimum wage in the country will be $11, in Massachusetts and Washington. The pay floor in the District of Columbia will top that, though, rising by a dollar to $12.50.

Jan 01 14:03

“A Warning for Property Investors in Australia”

Australian housing bubble meets rampant oversupply.

Jan 01 11:08

What is Henry Kissinger Up To? — Paul Craig Roberts

Until Trump relegates 'the neocons' to the ideological backwaters, Russia and China had best hold on to their strategic alliance.

Kissinger, an old cold warrior, is working to use Trump’s commitment to better relations with Russia in order to separate Russia from its strategic alliance with China.

China’s military buildup is a response to US provocations against China and US claims to the South China Sea as an area of US national interests. China does not intend to attack the US and certainly not Russia.

Jan 01 10:51

Back to the Future: From the USSR to the Eurasian Century

Get ready, because the thick of the action starts now.

The 2008 casino capitalism-provoked financial crisis, plus the American “resolve” to remake the so-called Greater Middle East through wars of choice, regime change and covert ops miserably failed.

As we wait for the dawn of the Trump era – an almost intergalactic geopolitical question mark – what’s certain is that the War Party US deep state won’t admit defeat. And the key geopolitical riddle to be answered is how strident internal American tensions will deal with the hub of progressive Eurasia integration: Russia, China and Iran.

Jan 01 10:20

Trump Moves To ABOLISH The Federal Reserve And Institute Gold Standard

Donald Trump won the election in a landslide because of bold ideas. His ideas would erase and remove decades of failed policies and corrupt agendas that have plagued this country for too long.

Jan 01 09:02

Accounting Gimmicks Won’t Stop The U.S.A. Titanic From Sinking

The U.S. Government has gone to great lengths in using accounting gimmicks to prop up the financial system and domestic economy. One area where this is readily apparent is the disconnect between the rising U.S. debt versus the annual budget deficits.

Jan 01 05:36

Dr. Jim Willie: The Death Of The U.S. Petrodollar, and What Comes After (Video)

In the following interview, Turd Ferguson of TF Metals Report interviews the one and only Dr. Jim Willie, in what is undoubtedly one of the best Dr. Willie interviews I’ve ever heard. The article that follows the interview is also from TF Metals Report, and it’s written by Grant Williams, who is a Singapore-based hedge fund manager.

First, the interview covers three main areas of discussion. First, Ferguson and Dr. Willie review the generally accepted narrative that has been coming from the mainstream media more or less since Donald Trump won the election. We keep hearing how bonds are selling off, which is sending interest rates higher, and making the stronger Dollar. There’s nothing to worry about, and the Dow will be at 25,000 in no time, right?

Dec 31 13:18

Virginia Bill Would Take A Step Towards Supporting Sound Money

By Michael Boldin

A Virginia bill prefiled for the 2017 session would remove sales taxes from some purchases of gold and silver, a first step towards encouraging its regular use as currency and breaking the Federal Reserve’s monopoly on money...

Dec 31 11:28

EPA To Alaskans In Sub-Zero Temps: Stop Burning Wood To Keep Warm

WTF!
In Alaska’s interior, where it can reach -50 degrees Fahrenheit in winter, the EPA wants people to stop burning wood. But it's just about their only feasible way to stay warm.
By John Daniel Davidson

In Jack London’s famous short story, “To Build A Fire,” a man freezes to death because he underestimates the cold in America’s far north and cannot build a proper fire. The unnamed man—a chechaquo, what Alaska natives call newcomers—is accompanied by a wolf-dog that knows the danger of the cold and is wholly indifferent to the fate of the man. “This man did not know cold. Possibly, all the generations of his ancestry had been ignorant of cold, of real cold, of cold 107 degrees below freezing point. But the dog knew; all its ancestry knew, and it had inherited the knowledge.”

Dec 31 11:24

Wow: Watch Trump's Budget Director Endorse Rand Paul Where He Tells What He REALLY Thinks Of Washington D.C & The GOP 'Establishment-Wing Crony Corporatists!"

"All of the donors that Boehner's talked to are completely happy. That's what's wrong with my party. We've become cronyist, we've become corporatist, we've lost touch with the people who put us there in the first place.. a couple 'outsiders' running, but honestly, I think you have to be in Washington just a little bit to know how bad it is. Y'all get a sense of how bad it is, you get trickles, bits and pieces here and there coming down in the media about what's broken in washington. I can tell you from having been there for four years, it's worse than you realize. And I don't think you could really fully appreciate how bad it is, why it's as bad as it is, and how you can fix it, until you've been there for a while." - Rep. Mick Mulvaney

Dec 31 10:47

Ohio’s new laws: 2017

Want to boycott Israel. Ohio will no longer contract with individuals or companies participating in boycotts against Israel or other countries with which Ohio trades freely. (HB476)

Want to boot a local official from office. Recall petitions now become invalid 90 days after the first signature is collected. (HB463)

Own Nationwide Arena. You get a property-tax exemption, worth about $4 million per year. (SB3)

Dec 31 10:22

Britain will have given Brussels £623 BILLION by 2020 as cost of EU membership is revealed

BRITAIN’S EU membership has cost an eye-watering £527billion since 1973 - with the UK expected to hand over a further £96billion by the end of the decade, claim Change Britain.

Dec 31 10:01

Not Just Bitcoin: The Top 7 Cryptocurrencies All Gained in 2016

2016 has been an exciting year for cryptocurrencies.

With most of the major open-source currencies showing growth this year and with some expected to see significant expansion in 2017....,

Dec 31 09:17

Trump's Budget Director Hates The Fed, Opposes World Govt & CFR, Loves Gold, Bitcoin, Endorsed Rand Paul For Pres.

President-elect Trump has made some excellent choices for his cabinet picks, including Scott Pruitt for EPA and General John Kelly for DHS. Never in a million years would an establishment Republican hack have picked any of these type people. But Trump's pick of Rep. Mick Mulvaney for the Director of the Office of Management and Budget takes the cake. I love it. Let's 'MAKE AMERICA GREAT AGAIN,' indeed!

Dec 31 07:06

Where Are All The World's Billionaires?

...

The first and most obvious conclusion to draw from the map is the large number of billionaires found in the United States. The world’s largest economy has close to 30 percent of the world’s billionaires and far more than any other single country. The distribution of billionaires in the United States is mostly equal, with the exception of the Political Connections and Resource Related type. Only 3.8 percent of American billionaires attained their wealth through political or resource related ventures, a likely consequence of the US government’s historical hands-off approach to business.

Dec 31 04:40

Dr. Jim Willie: America’s Economy Before Versus After Obama (Video)

He who controls information, controls absolutely, and "The Powers That Be" have made sure that we the people do not have access to real information. Instead, what the mainstream media calls “real news,” is little more than sound bites and propaganda intended to keep the masses distracted and pacified. Those of us like myself who make an honest effort to spread the truth, have been labeled as “fake news,” and we are often censored or blocked for weeks at a time from getting our messages out. I know this, because I just spent the last two weeks banned from most of social media because I chose to reveal the truth about Facebook's new "Fact Checkers" (aka Snopes), a couple I've had frequent altercations with, but never lost to lose once.

Dec 30 17:11

Bank run happening in Italy!

Dec 30 16:36

Precious Metal Deliveries For 2017 Begin Quietly - Big Drawdown in Registered For Delivery Silver

Although the silver did not ‘go anywhere,’ the registered (for delivery) category of silver dropped by almost 8 million ounces in one day.

Dec 30 14:37

The Central Banks Have Positioned The Economy To Collapse

Trump announces that Sprint will bring back 5,000 jobs. Gold surges on a huge purchase of paper contracts. Mini bubbles are now ready to burst. NYC real estate is now declining rapidly, this is the beginning of the real estate market breaking apart.

Dec 30 14:16

Is the 2nd Half of 2017 when Sears Finally Kicks the Bucket?

Sears doom-and-gloomers approach the end of their long wait.

Dec 30 12:48

War on cash gains fresh impetus

Last weeks showed there is no doubt what priorities financial elite has. One country recently made a move which resulted in terrible consequences. Indian government decided to revoke high-value notes as a legal tender.

Dec 30 12:24

Obama's Recovery In Just 9 Charts


Click for larger image

Webmaster's Commentary: 

Here is the real story of America 's decline right from their own Fed web sites.

These charts came from the Federal Reserve Bank in St. Louis.

Dec 30 12:10

Gold Technically Oversold, Ready for a Price Reversal

In more ways than one, 2016 was a roller coaster year. One need only look at gold’s performance to confirm this.

Dec 30 10:52

Copper Leads The Way Lower for Bond Yields

Dec 30 10:31

91 Year Old Woman Court Sides With Bank – Her Cash Saving Illegal

A 91 year old woman in Kristianstad tried to simply deposit her 108,000 SEK (approx. 12000 USD), which was her life savings.

Dec 30 09:54

Dan Amerman on Imminent Surge in Entitlement Costs

America is facing an “imminent multi-trillion dollar surge in Social Security and Medicare costs,” writes Dan Amerman. Today, he discusses why this will happen and what it means for US national debt, retirement savings...

Dec 30 08:50

Italy's Insolvent Monte Paschi To Issue €15 Billion In Debt

Italy's Banca Monte dei Paschi di Siena (BMPS.MI), which is being bailed out by the state, plans to issue 15 billion euros ($15.8 billion) of debt next year to restore liquidity and boost investor confidence, several newspapers said on Friday.

Dec 30 07:59

2017: The Year of the Truth Bomb!

The end of one year and the beginning of another is always the time to reflect and look forward. 2016 was a tale of two separate years.

Dec 30 07:40

US retail chain Gap shuttering stores in Israel

American retail apparel franchise The Gap is expected to shut down operations in Israel in the coming year, Israeli media reported Thursday.

According to Channel 2, the Israeli company Gottex - the controlling shareholder of Gap along with Spanish brands Zara and Pull & Bear in Israel - announced that it will make efforts to absorb employees of the shuttering store chain.

Dec 30 06:41

This is killing America (No one can disprove any of it)

Dec 30 03:18

What The Media Missed: Strong Dollar Doesn’t ‘Threaten’ U.S. Economy

“This concept that the strong dollar is a bad thing for the U.S. economy is only something that you could read in Old Wall media. It’s certainly not consistent with history and it’s certainly not consistent with a consumption-based economy.”

Dec 29 20:18

“Guilty, But Not Punished”: Another Banking Criminal Let Off The Hook

It is a verdict which we see over and over when it comes to the crimes of the Big Banks, the central banks, and their minions. These felons are caught committing serious offenses, again and again, yet receive either no punishment, or at worst some token slap on the wrist. The banking felon to escape punishment this time is IMF criminal, Christine LaGarde . LaGarde’s criminal conviction came while she was still France’s Finance Minister. It involved a $400 million government pay-out authorized by LaGarde, against the advice of several other Finance Ministry officials, to “French tycoon” Bernard Tapie. LaGarde announced she wouldn’t appeal being let off the hook for her crime. How magnanimous.

Dec 29 18:55

‘The War on Cash is coming to America’

As the clock winds down on 2016, this week we turn to the top minds in finance to learn how to navigate 2017’s choppy investment waters.

Today, The Palm Beach Letter’s own Teeka Tiwari shares his insights on how to handle markets at the start of the Trump years… the biggest question on every gold investor’s mind… and what to do as the War on Cash comes to America in 2017…

Dec 29 15:54

Central Bankers Are Losing Faith In Their Own Alchemy

King identifies a basic problem in the banking system that has again and again led to financial crisis. “The idea that paper money could replace intrinsically valuable gold and precious metals, and that banks could take secure short-term deposits and transform them into long-term risky investments came into its own with the Industrial Revolution in the eighteenth century. It was both revolutionary and immensely seductive. It was in fact financial alchemy — the creation of extraordinary financial powers that defy reality and common sense. Pursuit of this monetary elixir has brought a series of economic disasters — from hyperinflation to banking collapses.”

They're still looking for that damn 11th marble!
http://www.whatreallyhappened.com/WRHARTICLES/11thmarble.php

Dec 29 15:36

Government and news are part of the same myth

We recently hit only one of our two big milestones. The winter solstice passed, as expected. For the next six months, the days will get longer, not shorter.

Dec 29 14:35

Indian Banks Worry They Will Run Out Of Cash

Dec 29 14:33

Deflating Manhattan Housing Bubble Hits Amy Schumer... “You Can’t Lose Money In Real Estate” – Until You Do.

The demise of the Manhattan house price bubble has a new and beloved for-instance.

Dec 29 12:11

The Central Bankers Warn That Under Trump's Policies The Market Might Turn In 2017

The central bankers are getting ready to push the DOW over 20,000 points, from all indications they might do this on Friday.

Dec 29 10:56

'They're coming back!': Trump announces 8,000 new jobs for Americans, including 5,000 from telecom giant Sprint that had outsourced roles overseas

Trump also announced the creation of 3,000 jobs in the tech industry, from OneWeb, which plans to set up a factory in Florida to manufacture satellites to provide cheap broadband Internet access, according to NPR.

Dec 29 10:53

Obama’s legacy of debt and disease: National debt doubles in just eight years while 10.7 million more Americans now on food stamps to buy cancer-causing junk foods

President Obama has doubled America’s national debt and thrust 10.7 million more people onto food stamps… all in just eight years… all while subverting the culture, education, law enforcement and religion.

Dec 29 10:44

Trump to Collapse the Dollar in 2017? Analyst Sees “Economic Crisis Coming”

The system is looking for a scapegoat, for someone to blame, as a massive debt bubble – across several industries – threatens to burst, and a host of other systemic financial problems threaten to collapse down upon us.

Dec 29 10:35

Biggest market crash in HISTORY is coming as HUGE debt bubble bursts, top investor warns

A DESTABILISING Irish unification vote is inevitable if Britain leaves the single European market, Paddy Ashdown has claimed.

Dec 29 10:29

Utah AG says he’ll sue Obama over national monument

attorney general says he is preparing a lawsuit against President Obama for his decision to designate a new national monument

Dec 29 10:04

World’s Richest Increased their Wealth by $237 Billion in 2016

The world’s wealthiest 200 billionaires increased their net worth by $237 billion in 2016, taking their total wealth to $4.4 trillion as of the close of trading on Tuesday, an overall increase for the year of 5.7 percent, according to calculations by Bloomberg.

Dec 29 09:55

The BIGGEST BATTLE in Washington; Trump vs. Yellen

Yellen and the Fed will closely watch as Donald Trump attempts to fulfill his campaign promises to the American people.

Dec 29 09:23

First Cash Ban, Now Europe Proposes Confiscating Gold To Crackdown On Terrorists

The UMich and the Conference Board consumer confidence models surged reporting that the illusion is complete and people believe the economy is improving.

Dec 29 09:07

INDIA FEARS RUN ON BANKS: CAPITAL CONTROLS AND WITHDRAWAL LIMITS TO CONTINUE

Indian banks are fearful of running out of cash as lines queue up to withdraw money.

Bankers say they cannot cope with any sudden increase in demand, and warn against lifting cash withdrawal limits.

A decision by New Delhi on November 8 to scrap all large-denomination banknotes overnight removed 86 per cent of India’s currency from circulation. In an effort to prevent banks running out of cash, the finance ministry then imposed strict limits on the amount of new notes that could be withdrawn. Customers can currently withdraw just Rs2,500 from an ATM per day — equivalent to $37 — or Rs24,000 over the counter per week.

Webmaster's Commentary: 

The notion that such curbs will "...eliminate illicitly earned or unaccounted for income...." is so completely, hysterically false, I don't know where to begin.

The "bad guys", anticipating this, have already found safe havens for their cash, and learned how to either brilliantly encrypt its whereabouts, or laundered it to the point where it is untraceable.

But this "war on cash" IS coming to a bank near you here in the US, which means you are going to have to figure out where and how you want to store your financial assets under your own control, before the excrement hits the ventilator system.

Dec 29 08:59

European Commission Threatens Widespread Asset Confiscation

The US and the North Atlantic Terrorist Organization (NATO) attacked Libya and Syria and began transporting Muslims to Europe as a means of destabilization. They have also conducted numerous other false flag attacks, such as Charlie Hebdo, by which to further confuse and imprison the local population.

The most recent was the so called “terror attack” which occurred several days before Christmas in Berlin, Germany. A truck was deliberately driven into a crowded market killing 12 people and leaving 48 injured.

Now it reaches a logical conclusion with cash and gold being confiscated in the name of making people “safe”.

Webmaster's Commentary: 

Dec 29 08:49

A Tale of Two Housing Markets: Hot and Not So Hot

If we had to guess which areas will likely experience the smallest declines in prices and recover the soonest, which markets would you bet on?

Dec 29 08:33

India Fears Run On Banks: Capital Controls And Withdrawal Limits To Continue

Indian banks are fearful of running out of cash as lines queue up to withdraw money.

Bankers say they cannot cope with any sudden increase in demand, and warn against lifting cash withdrawal limits.

Webmaster's Commentary: 

Oh yes, that "cashless" idea is working out real great!!!

Dec 29 08:18

White House Has Beef with EU Trade Rules

The European Union has some strict standards when it comes to food, skincare, cosmetics, and so on. For instance, some ingredients that are widely used in beauty products in the US are banned in EU. Also, beef from the United States is banned in Europe as well, due to hormones.

Dec 29 08:12

THREE MINI-BUBBLES ARE BURSTING

Dec 29 07:39

PayPal serves illegal Israeli settlers but won’t let Palestinians open accounts

‘Without access to PayPal, Palestinian entrepreneurs, nonprofits, and others face routine difficulties in receiving payments for business and charitable purposes,’

Dec 29 07:18

Russia sanctions? Trump says US needs to ‘get on with our lives’ instead

Responding to reports that the Obama administration wants to slap Russia with new sanctions for allegedly interfering in the 2016 election, President-elect Donald Trump said the US needs to “get on with our lives,” as “nobody knows exactly what’s going on.”

Webmaster's Commentary: 

I know what's going on.

Dec 29 02:57

Report: 8 years of Obama vacations cost $85 million

In total, the cost of the the first family’s personal or largely personal travel during the last eight years comes to $85 million – though that is likely to climb to $90 million after additional records are released, according to the conservative group Judicial Watch based on federal government records.

Dec 28 18:03

Why Bitcoin Will Make Gold And Silver Go Up

Dec 28 16:12

SEIU UNION SLASHES BUDGET 30% AFTER TRUMP WIN

Dec 28 14:52

Trump Might Be the End of the Bush-Obama Consensus

Say what you want about the Obama economy, but one aspect of it must be stated up front: It was the “Happy Time” of crony capitalism. I know this statement departs from the glowing narrative being promoted by mainstream sources, but facts are facts. Maybe Obama’s was left-cronyism, whereas Bush pushed a right one, but no matter. Crony capitalism has done well since 2009.

Dec 28 12:02

Economy Shrinks Under Modi-fied India

Raja M. Nah discusses how demonetisation has adversely impacted manufacturing and agricultural growth in India, and how cash stringency will compel firms to reduce labour cost and thus reduce income of the working class

Dec 28 10:18

Minimum Wages Jump on Jan. 1 in Cities & States. Here’s what I Think about it.

While Congress sits on its hands.

Dec 28 09:33

Scandinavia's Disappearing Cash Act

By the end of this month, Scandinavia's last mint will have closed.

Following in the footsteps of Sweden and Norway, Denmark has decided to outsource the production of its coins to Finland. The Danish central bank has already stopped printing banknotes.

Dec 28 09:19

The shantytowns of America: Inside the shacks, cars, tents and boxes that America's homeless call home

From Florida to Louisiana, one photographer has captured these captivating images of homeless people across the United States.

Dec 28 08:34

Pension Panic: The Coming Financial Bubble Nobody Is Talking About

For millions of public sector workers in the U.S., state-run pension funds are the only chance left for a comfortable retirement. In the hopes of providing a stable future for their families, an entire generation was duped into putting decades of their earnings into these supposedly ‘risk-free’ investments. Unfortunately, those who have entrusted the government to manage their life savings may end up destitute as a result.

Dec 28 08:28

Toshiba shares plummet after warning of 'billions' in losses

The Japanese firm's shares plunged 20% on Wednesday, after the company warned it is expecting billions of dollars in losses from its takeover of a U.S. nuclear construction business last year.

"We're still figuring out the exact numbers, but it could reach up to several hundred billion yen," CEO Satoshi Tsunakawa told reporters Tuesday.

Dec 28 08:27

Wednesday – Still Waiting for Dow 20K

Yawn!

Come on Dow, we already bought the hats.

Dec 28 08:17

Europe Proposes Confiscating Gold In Crackdown On "Terrorist Financing"

Hot on the heels of China gold import restrictions, and India's demonetization and gold confiscations, The European Commission proposed tightening controls on cash and precious metals transfers from outside the EU under the guise of shutting down one route for funding of militant attacks on the continent, following the Berlin Christmas attack.

Webmaster's Commentary: 

This has nothing to do with terror. The cashless society, forcing you to leave your money trapped inside the banks, only works if there is no portable store of value available to the public. That is why every nation starting to work towards a cashless society is banning private ownership of gold, and soon silver as well.

Dec 28 07:43

Trump Inherits Political and Economic Titanic-Warren Pollock

Will the Trump Administration be going on the offensive against the Clintons? Wall Street analyst and financial expert Warren Pollock contends, “When you have a school of piranhas circling you, it’s hard to attack them because they are all over the place nipping at you.

Dec 28 07:31

Growing number of Americans are retiring outside the US

Newly widowed, Kay McCowen quit her job, sold her house, applied for Social Security and retired to Mexico. It was a move she and her husband, Mel, had discussed before he passed away in 2012.

"I wanted to find a place where I could afford to live off my Social Security," she said. "The weather here is so perfect, and it's a beautiful place."
She is among a growing number of Americans who are retiring outside the United States. The number grew 17 percent between 2010 and 2015 and is expected to increase over the next 10 years as more baby boomers retire.
Just under 400,000 American retirees are now living abroad, according to the Social Security Administration. The countries they have chosen most often: Canada, Japan, Mexico, Germany and the United Kingdom.

Retirees most often cite the cost of living as the reason for moving elsewhere, said Olivia S. Mitchell, director of the Pension Research Council at the University of Pennsylvania's Wharton School.

Webmaster's Commentary: 

Being away from the "rat race", in terms of the hectic pace of life in this country, may also be a large factor with such decisions as well.

Dec 28 03:45

No good deed goes unpunished; A stronger US Dollar set to undermine American Business in 2017

The US dollar is the reticent winner of the forex market after a tumultuous year in 2016, which has set up an unknown and perhaps dangerous path for the American manufacturing sector in 2017.

Dec 27 16:55

AND TRUMP ISN’T EVEN PRESIDENT YET! LOOK WHAT JUST HAPPENED IN OHIO

Politicians on both sides of the aisle have been saying that it is impossible to bring back jobs from China. Even before Trump gets into office, he is bringing jobs back to America.

Dec 27 16:14

Chinese Interbank Funding Freezes Again As Overnight Repo Hits 33%

While we have previously shown the amazing gimmicks the Chinese central bank does with the short end of the offshore Yuan interbank offered rate, which as previously explained, and as shown in the animation below, has become the PBOC's favorite means of punishing currency speculators by making Yuan borrowing costs against shorts crushingly high, forcing short unwinds...... when it comes to more traditional unsecured short-term funding markets, like the simple overnight repo, these reflect overall levels of liquidity in the interbank market, or as the case may be, complete absence thereof.

Dec 27 16:10

ECB Lowers Deutsche Bank's Capital Requirements, Allowing It To Pay Bonuses

Fast forward to this morning when the ECB once again rode to the rescue, if not so much of Deutsche Bank the company, then certainly the employees of the German bank, and as Reuters reported overnight, Mario Draghi agreed to lower the minimum capital requirements for Deutsche Bank on Tuesday, "giving the lender more leeway to structure bonus payments and dividends."

Deutsche Bank said the ECB requires it to maintain a phase-in common equity tier 1 (CET 1) ratio of at least 9.51% on a consolidated basis, starting January 2017. This is below Deutsche Bank's current requirement of 10.76 percent, a threshold the bank cannot fall below this year without having to limit dividends, variable remuneration and coupon payments to holders of Additional Tier 1 instruments, the bank said.

The drop in requirements for 2017 comes after a change in the rules. The ECB now expresses parts of its capital demands as voluntary guidance.

Webmaster's Commentary: 

Have the ECB and Mario Draghi collectively lost their minds on this?!?

What if there is some terrible economic catastrophe which comes Deutsche Bank's way (like a global move that triggers a huge move in the derivatives market), which causes the bank to go under, necessitating a bailout from the German government?!?

Dec 27 15:04

The world of gold is about to change

When you look at the price of gold in 2016 you see that the level we have today 1130 USD/oz is only a little bit higher than January’s 1050 USD/oz. Jumping to conclusions we may say that this year was very calm but the reality is far from it.

Dec 27 15:03

Will the OPEC Deal Last

The markets were cautiously optimistic earlier this month as OPEC shocked the world by finally coming together to curb oil output.

Dec 27 14:55

David Collum: We've Got A Recession Coming

Whether or not you've had time yet to plow your way through David Collum's excellent 2016 Year in Review, our annual podcast with Dave always brings additional color to light -- and this year's is no exception.

Dec 27 14:18

Turmoil in 2017: Market Signals That There Will Be A Massive Correction Before Trump Inauguration

The Election of Donald Trump spurred an extended buying frenzy in stocks and commodities, sending the Dow Jones Industrial Average (DJIA) sky high. The Dow broke multiple new records nearing 20,000 points and rose 8% since the election causing an exuberant optimism and bullish sentiment that felt outright unnatural.

Dec 27 11:00

Consumer Confidence Jumps To Highest Since 2001 As "Trump Hope" Soars

Moments ago, that "other" confidence index reported by the Conference Board, also printed at multi-year highs, surging from its November print of 109.4, and well above the 109 expected, to 113.7. This was the highest print since August 2001. What drove the surge? What else: hope that Trump will make things better...

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA