ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Dec 19 09:00

When the ‘fake news’ is the real news

The mainstream’s “news” was supposed to help Hillary Clinton ride Barack Obama’s coattails into the presidency. The supposedly “fake news” of skepticism about an economic recovery is what killed her bid instead. -- But that news is real. It wasn’t the “Russians.” Hillary simply couldn’t sell the message of recovery because no one outside the major cities felt anything close to a recovery.

Dec 19 08:40

Chinese Interbank Lending Freezes, Forcing Massive Intervention By China's Central Bank

China is finding itself in an increasingly more untenable situation, trapped on one hand by its sliding currency (and declining reserves), which as noted earlier it has manipulated higher by forcing overnight unsecured rates to spike, in the process punishing "speculators" and other shorts...

... and on the other, by a banking sector that finds itself desperately in need of liquidity, unable to endure the PBOC's monetary interventions, and on the verge of a liquidity crisis comparable to what Chinese banks suffered in the summer of 2013 when overnight rates briefly shot up above 20% as China pushed aggressively with a failed deleveraging campaign.

Webmaster's Commentary: 

This looks to be a major hiccup for the Chinese economy.

Dec 19 08:22

IMF Chief Lagarde Found Guilty In French Tycoon Payout Trial

French judges on Monday found IMF chief Christine Lagarde guilty of negligence for failing to challenge a 400 million euro ($417 million) state arbitration payout to a business tycoon in 2008 when she was French finance minister.

The ruling risks triggering a new leadership crisis at the International Monetary Fund after Lagarde’s predecessor Dominique Strauss Khan resigned in 2011 over a sex assault scandal.

Webmaster's Commentary: 

Demonstrating, yet again, that the folks at the top of the economic food chain are generally more crooked than a dog's hind leg!

Dec 19 08:01

UKRAINE NATIONALIZES ITS LARGEST BANK, WHICH HOLDS 36% OF ALL DOMESTIC DEPOSITS

It was just a few short days ago, on Wednesday of last week, that Ukraine's largest lender, PrivatBank, said that reports it will be nationalized were attempts to create panic and destabilize the political situation in the country.

Fast forward four days, when late on Sunday night, the "attempts to create panic and destabilize the political situation" in Ukraine turned out to be true after all, and whether politically motivated or otherwise, the Ukrainian government announced hours ago that it would nationalize the suddenly very ironically named PrivatBank, unleashing one of the biggest shake-ups of the banking system since the country plunged into political and economic turmoil two years ago.

Webmaster's Commentary: 

Ukrainian citizens are going to be furious, for having the burden of bailing out a failed financial institution added to the financial stresses they are already dealing with, considering the plummeting rate of their currency against currencies around the world.

Dec 19 07:53

Will Obsolete Systems Be Replaced With The $1 Trillion Infrastructure Plan?

To stimulate the economy, create new jobs and generate new GDP requires an injection of new money. Borrowing from the bond markets or off-balance-sheet in public/private partnerships won’t do it. If Congress won’t issue money directly, it should borrow from banks, which create money on their books when they make loans.

Dec 19 07:16

Bail-Ins Coming? World’s Oldest Bank “Survival Rests On Savers”

The world’s oldest bank and Italy’s third biggest bank, Monte dei Paschi di Siena (MPS), is making a last-ditch emergency attempt as the year ends to convince tens of thousands of ordinary Italian savers to help it escape state hands.

Dec 18 17:17

DHS Election Hacking Scandal Spreads to More States

In response to an inquiry from Georgia 4 more states confirm traffic from the DHS network that hacked Georgia’s election system.

Dec 18 16:48

Euro Going To Parity Like It’s 1999

Dec 18 15:51

Could the next financial crisis be just around the corner? Jim Rickards: The signs of a looming meltdown are ‘unmistakable'.

Giving his 2017 outlook to Kitco News, he said the next crisis would be far worse than any previous one markets have experienced.

Dec 18 11:46

FOREIGN AID FARCE: How YOUR money is lining pockets of fat cat charity bosses

BOSSES of charities funded by British foreign aid are raking in massive six-figure salaries, it has emerged.

The fat cats are lining their pockets with cash from the Department for International Development (DFID) meant to help people in need.

They include former Labour Foreign Secretary David Miliband.

He is said to pocket an eye-watering £530,000 as president of the International Rescue Committee (IRC), which helps refugees and disaster vitims.

Dec 18 10:35

Egon von Greyerz - Inflation, Stagflation, Hyperinflation & Deflation-All at the Same Time... There Will Be a Time Without Money

Financial and precious metals expert, Egon von Greyerz (EvG) says, “The whole world is a big bubble, and gold will reflect that as it always has. We have been into gold for wealth preservation purposes not for speculation.

Dec 18 08:38

‘Russia Card’ Vendetta

Hack or Leak ?

When it comes to American politics specifically and European politics in general, there is nothing like playing the Russia card. If there is something wrong or there is something you don’t like, simply blame Vladimir Putin.That is exactly what the CIA is doing.

CrossTalking with Former Intelligence Analyst Ray McGovern, Former CIA Philip Giraldi, and James Jatras

http://mycatbirdseat.com/2016/12/russia-card-vendetta/

Dec 18 08:32

From ‘Fake News’ to ‘Fake Intelligence’ – Wayne Madsen

The real headlines should read: «CIA interfered in presidential election by supporting Clinton over Trump».

Never in the history of the Central Intelligence Agency has it and its surrogates so blatantly and boldly interfered in a U.S. election.

The U.S. media, in a matter of hours, altered course from concentrating on «fake news» about innocent pizzerias being linked to child sexual exploitation to spotlighting «fake intelligence» about Russia’s alleged cyber-espionage operation designed to elect Donald Trump president. The CIA leaked to The Washington Post, the owner of which has a $600 million contract with the CIA to provide cloud computing, findings of a secret report on Russia’s alleged «fixing» of the 2016 U.S. presidential election to favor Trump over Democrat Hillary Clinton.

Dec 18 08:14

The 401k has been a disaster for most Americans: Only 44 percent of private sector workers participate in a defined contribution plan.

Failing to plan is planning to fail. If this is true, most Americans are planning to live in retirement with very little money and are going to rely heavily on Social Security to get by. That is the case today where most retirees get the bulk of their income from Social Security. Back when the 401k plan was introduced, the thought was many people would squirrel away money each month and after 30 or 40 years of working, there would be a large nest egg thanks to a raging stock market. Stock market growth has tempered and most people just didn’t participate. So now as many Americans enter retirement age most are realizing they are going to work until they die. The 401k plan was introduced in 1978 and the end result for most Americans is that it has failed.

Dec 18 04:16

Precious Metals Pull Back As Janet Yellen Talks Tough about Trump & Her Plans

Guy Christopher on Robin Hood, Sound Money, and Rising Anti-Globalism

Dec 17 19:27

DONALD TRUMP JUST HIRED THE 3 BEST PEOPLE IN AMERICA TO SAVE OUR JOBS!

Donald Trump just built up the most impressive, job-saving business advisory board that America has ever seen. These three people are politically different with very different backgrounds with ONE thing in common…THEY MAKE JOBS!!!

Dec 17 17:42

2017: The Second Era of Bitcoin Begins

2016 has been a fascinating year, where cellular mitosis has been bitcoin's guiding model.

The different camps previously in one group or cell have split. There are those who understand bitcoin and remain in its cell, and those that do not, and who are now in their own offshoot cells, “experimenting” on branches that are essentially non-viable...

Dec 17 14:16

Look Who's Leading the Way on Interest Rates (It's NOT the Fed)

The mainstream financial press analyzes every word of the Fed's discussions about interest rates. But it's a myth that the U.S. central bank determines the direction of rates. These two charts are revealing.

Dec 17 12:37

How the Minimum Wage Hurts Young People

The minimum wage is supposed to help entry-level workers, right? So why do many young people lose their jobs when the minimum wage is raised?

Dec 17 10:33

Inflation Pressures Are Rising Deep in the Pipeline, Despite Lackluster Demand

Businesses expect their “prices paid” to surge.

Dec 17 10:17

Bix Weir: If Trump Crashes the System, He Takes Away All Their Power

With president-elect Trump walking into a house of cards teetering on the verge of collapse, what are the trade offs he faces if he triggers a reset of the US Dollar?

Dec 17 09:52

3D Visualization of the Greatest Jobs & Wealth Theft In World History

An interactive 3D model of international trade visualizes the United States experiencing the greatest jobs and wealth theft in history.

Dec 17 09:15

UK 'secretly selling arms to Saudi Arabia and elsewhere under opaque licencing system'

The UK is secretly selling arms to Saudi Arabia and other countries under an opaque type of export licence, it has been reported. The military and defence industry is a major player in the UK economy, worth about £7.7bn a year.

Dec 17 09:03

CVS to close 70 stores in the coming months

Dec 17 08:01

Home Flipping Reality Shows Misrepresent the Risks Involved in Real Estate Investing

We delve into the world of Reality Television meets Home Flipping for a business venture, and how these reality shows often glamorize and gloss over the inherent risks involved in home flipping.

Dec 17 05:54

Housing starts tumble from nine-year high

After posting the strongest reading since 2007 in October, housing starts, or groundbreaking on new construction projects, plunged a surprise 18.7 percent according to the Commerce Department. That translates to an annual rate of 1.09 million units.

Dec 17 05:32

Washington D.C. Housing Market at a crossroads.

Clients change their minds. But historically, with the low home inventory levels we have had in Washington, D.C., buyers don’t often walk away from a house they successfully place under contract. Typically, buyers see a bunch of houses and zero in on “the one.”

Dec 16 16:54

Foreigners are Dumping US Treasurys as Never Before

Bloodletting in one of the most conservative investments.

Dec 16 16:21

Wall Street is Overly Optimistic on Trump Presidency

We discuss some of the challenges Donald Trump has had in his past with just making good solid decisions, let alone being the savior that is currently priced into financial markets for the US Economy.

Dec 16 15:54

From "Unloved & Unwanted" to George Washington on Steriods: The U.S. Dollar

The U.S. dollar remains in an uptrend that's been unfolding for nearly nine years. Can a magazine cover really help point to which way the trend will go from here?

Dec 16 15:32

Today on the TradCatKnight Radio: “Hillary, HackWars & RFID Chip” (Video)

Earlier today, the Voice of Reason from www.thelastgreatstand.com was a guest on TradCatKnight Radio, where Mike and Eric discussed a wide variety of issues, and the overall state of the nation as the country awaits Donald Trump taking his oath on Inauguration Day.

Among some of the topics covered are: Hillary, Obama, Trump, what’s in store for 2017?, RFID/Mark of the beast coming?, MSM is the fake news, the Zuckerberg and Soros crackdown on "fake news", Are Americans unrealistically overly optimistic?, Is an economic crash still coming?, Attacks on conservatives and Christians, Humanity’s uniting during the endgame, what is the biggest threat to America today?, the RUSSIA/USA HackWars, and more!

For your reference, some of the issues discussed during the interview that I've covered in previous posts are listed below for your convenience…

Dec 16 15:22

Jim Rogers on selling… and why we’ll all look like fools in 15 years

Me: Jim, we’ve talked about buying… how do you know when to sell an asset?

Jim Rogers: Well… when people are getting hysterical, you can sense it just by market action… if you read the press you can see when everybody’s talking about whatever it is that’s the best thing, something going to change everybody’s life… and how boy, it’s a whole new era… You hear the same words every time, every time, they are the same. Investors and the press use the same expressions about how great things are now. [For example,] Amazon can never go down, and will never go down and is going to go own the world someday.

When you hear all that kind of talk… I mean, fortunately or unfortunately, I have read about a lot of markets in my day and they always say the same thing. Absolutely, “a new era.” Oh, how many new eras have we had in history? It’s just amazing.

Dec 16 14:32

Currency Armageddon? A Word about the Hated Dollar

The “death of the dollar” will have to be rescheduled.

Dec 16 13:55

U.S. SHALE GAS INDUSTRY: Countdown To Disaster

The countdown has started as the demise of the great U.S. shale gas industry has begun.

Dec 16 12:55

Economics, Immigration and Terrorism: Europeans “Could See Civil War, Unrest And Utter Chaos” - Mac Slavo

It comes after months of warnings from experts – including top military brasses – that massive economic issues, mass immigration, and terrorism will lead to a full-scale crisis.

They have predicted this will affect the entire continent, eventually leading to civil war on the streets.

It seems that Switzerland’s Lieutenant General and Chief of the Armed Forces, André Blattmann, has foreseen what is to come. He warned last year:

[T]he combination of hybrid wars, the economy, and the refugee crisis would have “unforeseen dimensions”.

He then claimed social unrest was something Europe’s leaders and armies had to be prepared for.

The Swiss might be historically neutral, but they aren’t blind to the upheaval that could threaten stability both at home in their independent nation, and surrounding them on the rest of the European continent.

Webmaster's Commentary: 

That no one in the EU could see this negative response coming to the effects of massive immigration from countries which do not accept the European mindset on anything, boggles the mind.

They are truly dealing with a "clash of civilizations" in Europe which could well engender a real civil war in EU member countries.

Dec 16 12:36

Hey millennials, avoid these 10 fading careers

According to Velez, employment of reporters and correspondents is projected to decline 8 percent, while employment of broadcast news analysts is projected to decline 13 percent from 2014 to 2024.

The reason? "Declining advertising revenue in radio, newspapers and television will negatively impact the employment growth for these occupations," Velez says.

Dec 16 10:58

London’s 328-Year-Old Lloyd’s Insurance Market Plans EU Move In The Coming Year

After 328 years in the city, Lloyd’s of London will become one of the first major UK businesses to confirm moving part of its operation to the continent as a result of Brexit.

Earlier this year, the insurance giant’s chairman John Nelson said London’s status as a global insurance leader had been put at risk by the result of the June EU referendum.

Dec 16 10:42

Big banks $70 billion short in Fed push to prevent bailouts

Wall Street banks are about $70 billion short in building up funds the Federal Reserve says they’ll need to tap following a collapse, down by almost half from the central bank’s earlier estimates.

Dec 16 10:24

Lots of Unintended Consequences Not Being Priced Into Markets

Watch the VIX as this instrument is being artificially pinned down before options expiration, hint, hint, money is involved as is always the case in markets.

Dec 16 10:04

5 Reasons Why Buying Stocks Right Now Is Extremely Dangerous

Investing is often a game of timing, and right now seems like a terrible time to buy stocks. The world is undergoing major shifts that will potentially wipeout large percentages of stock valuations. This article will look at 5 reasons why it is one of the most dangerous times in history to be investing in stocks.

Dec 16 09:47

Consumer Confidence is Soaring and That Could Mean Trouble for the Economy

On the last Tuesday of every month The Conference Board publishes the Consumer Confidence Index, which is used to gauge consumers' feelings about the economy.

Dec 16 09:38

Italy could DESTROY eurozone: Rome to inject 15 BILLION euros into banks to SAVE them

ITALY is set to inject billions of pounds worth of cash into its failing banks in a desperate attempt to halt a looming financial meltdown, according to reports.

Dec 16 09:33

Second drug giant ‘ripped off NHS’ by hiking up cost of lifesaving drug by 12,000 PER CENT

Actavis UK hiked the cost of 10mg hydrocortisone tablets from 70p in April 2008 to an eye-watering £88 per pack by March this year, according to the Competition and Markets Authority (CMA).

It equates to an increase of more than 12,000 per cent.

Before April 2008, the NHS spent about £522,000 a year on hydrocortisone tablets.

But by 2015, this had soared to a whopping £70million a year.

Dec 16 08:50

US House crisis, Canada style. Interest free loan for down payment. Household debt has cracked the 2 Trillion dollar ceiling.

Here we go. Looks like Canada wants to repeat history. The BC government is now offering interest free loans to first time home buyers to help them secure a downpayment for their house.

Dec 16 08:11

Greece DEFIES Merkel and EU and PASSES Christmas bonus for pensioners in face of austerity

GREECE defied the EU and its international creditors today and chose to back the Greek people by giving pensioners a one-off Christmas bonus.

Webmaster's Commentary: 

"NO! You give that money to us, the bankers. The Bankers! THE BANKERS!!!!! Screw Christmas! We OWN you, slaves!!!!!!!!!"

Dec 16 08:05

IT’S NOT OVER: FIGHT AGAINST DAKOTA ACCESS PIPELINE ENTERS NEW PHASE

In early December, a blizzard struck North Dakota, blanketing the Oceti Sakowin, Rosebud, and Sacred Stone water protector camps with heavy snow in below freezing temperatures. As the Standing Rock Sioux and allies battled the crippling cold, the U.S. Army Corp of Engineers (USACE) handed the native community a victory by denying the permit for the final construction of the Dakota Access Pipeline. The USACE said they will conduct an environmental impact assessment and consider possible alternative routes.

Although fireworks rang out above the camps following the Army Corps decision, there was also a sense of hesitation. Water protectors remained uncertain over whether the fight had really been won or if the decision was simply a ploy to delay an inevitable conclusion. It quickly became apparent that the fight was not over as word spread that the company behind the pipeline, Energy Transfer Partners, would continue with their plans to complete the project.

Webmaster's Commentary: 

With $20 million a day at stake in revenues, my guess is, that what we are seeing now, is simply a series of delaying tactics, and a hope, on the part of Energy Transfer Partners, that the issue will go away.

Although many of the Standing Rock Souix have returned home, due to extreme winter weather conditions, this issue, of the protection of both their water, land environment, and sacred burial grounds, will not go away.

The boycotting of those financial institutions supporting DAPL, coupled with legal challenges against the project, are good moves, but may not be strong enough to stop the project in the long run.

Dec 16 07:39

Major Economic Warning Sign: The Euro Is Heading For Parity With The U.S. Dollar

The collapse of the euro is accelerating, and it looks like we could be staring a major European financial crisis right in the face early in 2017.

Dec 16 06:48

Andrew Maguire Why Gold Is Nearing A Massive Upside Breakout!

Andrew Maguire explains why 2017 will be a massive breakout year for the price of gold as investors start to demand delivery of physical gold.

Dec 16 05:50

Is The Federal Reserve Committing Tax Fraud? – Forensic Accountant Alan Myers Dissects The Fed

Author and economic analyst John Sneisen interviews forensic accountant Alan Myers who breaks down the many problems of the Federal Reserve, how it creates vast amounts of inflation and how it coerces the individual and leaves the country with a massive treasury debt. As Alan acknowledges, it makes more sense to call it a treasury debt than a national debt.

Dec 16 04:16

Dr. Jim Willie: The Economic Battles Continue to Rage On… (Videos)

As you read and listen throughout this article, recall what President John F. Kennedy once famously said:

For we are opposed around the world by a monolithic and ruthless conspiracy that relies primarily on covert means for expanding its sphere of influence–on infiltration instead of invasion, on subversion instead of elections, on intimidation instead of free choice, on guerrillas by night instead of armies by day. It is a system which has conscripted vast human and material resources into the building of a tightly knit, highly efficient machine that combines military, diplomatic, intelligence, economic, scientific and political operations.

Dec 16 03:28

The Biggest Scam In The History Of Mankind - Who Owns The Federal Reserve? Banks are ROBBING PEOPLE!

This is TRUE!

Banks are doing nothing but ROBBING you BLIND!

Dec 15 23:01

Is Americans’ Unfettered Optimism Starting to Border on Dangerous? (Video)

In a survey conducted by CNBC for the fourth quarter, the survey found that the percentage of Americans who believe the economy is going to get better in the next year jumped an unprecedented 17 points to 42 percent after Donald Trump’s victory, when compared to surveys taken before the election results were in. Right now, it’s hard to deny that much of the country is experiencing what Michael Snyder refers to as “Trumphoria,” but is what they’re experiencing safe?

Dec 15 18:19

PropOrNot All-Star Organizers: Koch, Soros, CIA, MI6, Ukraine, All Together Now

Koch Brothers Secretly Allied w. George Soros for Hillary Clinton … The leading financiers of the Republican Party, the Koch brothers, were exposed ... by the great investigative journalist Lee Fang, as being solid supporters and heavy financiers of congressional candidates who have been leaders in expanding the U.S. military budget and moving America toward a police state (including militarization of the police).

The leading financier of the Democratic Party, George Soros, has long been known to provide major financial backing for the most-neoconservative Democratic candidates, such as Hillary Clinton, who favor every possible military invasion and coup (and see this, for more on that).

Webmaster's Commentary: 

My heaven, what a (slightly strange) collection of connected bedfellows, in this attempt to thrououghly destroy America's Constitutional Republic!!

I have to wonder just what the heck these people are going to do if they are unable to turn the number of electors Clinton needs to steal the election from Trump on Monday?!?

Unfortunately, and because they have extensive experiences in doing this to effect "regime change" in other countries, Soros' organisations and the CIA may well be scheming to generate national riots against the Trump Presidency, and have Obama (during his allegedly "last days in Office") suspend the Constitution and Bill of Rights, invoking martial law; and declaring November's elections null and void, promising to schedule a replacement election at a later point in time.

Unfortunately, should they pull this off successfully, I am very concerned that the excrement will hit the ventilation system, and we may well see a civil war in this country.

I hope (and pray) that our current political circus doesn't move the country in this direction.

But to all of our readers and listeners, please make sure that you have everything you need if there is a major emergency, and can either shelter in place comfortably, or know how - and where - you will bug out, if you need to do so.

Dec 15 17:55

China Dumps Treasuries: Foreign Central Banks Liquidate A Record $403 Billion In US Paper

It wasn't just China: Belgium, which has long been rumored to be the venue where China's keeps its "secret" offshore Treasury holdings courtesy of Euroclear, also dumped its TSY holdings, and in October its stated holdings (which again have to be adjusted for MTM), tumbled from $143Bn to $117Bn, the lowest since the summer of 2015.

Fast forward to today when in the latest monthly update for the month of October, we find that what until a month ago was "merely" a record $375 billion in offshore central bank sales in the LTM period ending September 30 has, one month later, risen to a new all time high $403 billion in Treasuries sold in the past 12 months.

As the chart below shows, there has never been such an aggressive selling of US Treasuries over a 12 month period in history.

Webmaster's Commentary: 

This absolutely doesn't augur well at all for US financial markets.

Dec 15 17:39

U.S. Public Pensions: In a “Downward Spiral”

Even as the Dow reaches an all-time high, the Dallas pension system is asking taxpayers for a bailout. U.S. public pension systems grapple with an accelerating downward spiral. Our Elliott Wave Financial Forecast notes that some are prime candidates for insolvency.

Dec 15 15:23

How Banks Manipulate The World - David Icke

Dec 15 14:01

Futures Traders Have The Largest Net Short On The Russell 2000 Ever

Small-cap stocks are on a historic run; however, futures positioning could become a considerable headwind should the rally start to fade.

Dec 15 14:01

Israel’s West Bank tourism drive makes Palestinians invisible

Jonathan Cook says Israeli moves to plunder Palestine’s tourism economy is intimately connected to the legalisation of the theft of Palestinian private property and the “creeping annexation” of occupied Palestine.

Dec 15 13:58

Eurozone suspends Greek debt relief over Christmas bonus for pensioners

Greece’s European creditors have halted the country’s debt relief deal after Athens proposed a one-off payout to pensioners which contradicts Brussels' austerity demands.

Dec 15 13:24

The Silver Riggers are now Playing with Fire, Here’s Why…

A Deadly Game

Hello brothers, in this Clarion Call, we take aim at recent events in silver, and then hone on brand-spanking new market events that will weigh HEAVILY on precious metal riggers into 2017.

Dec 15 12:06

The Fed Just Signaled The Collapse Of The Economy, Brace For Impact

The British member of parliament has now pushed the idea that the BREXIT was influenced by a Russian hack. Retail sales much lower than expected, during the holiday season which included black Friday and cyber Monday.

Dec 15 11:57

China Halts Trading In Bond Futures After Record Bond Market Crash

Following yesterday's violent selloff in bonds, which has continued today across the globe, one country that was particularly impacted was China, where as we reported overnight, Chinese government bond futures plunged by the most on record, dropping by 2% in the session, and erased in a week the gains of the past 18 months, hitting a 16 month high yield of 3.4%.

Dec 15 11:49

Tucker Carlson Takes On Cocky Socialist College Bro on Basic Economics and Immigration

Just another young man who is regurgitating others words with no facts.

Dec 15 10:29

EURO PLUNGE: Single currency dives amid fears of Italian economic EXPLOSION

THE EURO has hit its lowest level against the dollar since March 2015, as trust in the 'dysfunctional' eurozone tumbles.

Dec 15 09:44

Fed Increased Interest Rates Twice Under Obama. Today they announce they will increase in 9 times under Trump in his first 3 years. Trump was right, the Feds are political, its time we abolish the Fed.

This needs to be the central issue moving forward. It's a direct assault on job growth. I'm not equivocating. It's a direct assault.

Dec 15 09:11

SO MUCH FOR UNITY! EU IN DISARRAY AS MEPS THREATEN TO START THEIR OWN BREXIT TALKS WITH UK

Guy Verhofstadt, the EU Parliament’s chief negotiator, savaged representatives from the European Council and threatened to start up his own talks with the UK if MEPs are not given a leading role in the Brexit process.

His astonishingly blunt ultimatum will alarm European leaders and signals the start of a long and acrimonious war between the Council, which represents the interests of the individual member states, and the Parliament which speaks for the euro elite in Brussels.

Former Ukip leader Nigel Farage said the proposal showed that the EU had become “so unworkable” that Britain should ditch triggering Article 50 and instead just walk away from the troubled bloc.

The row erupted after Mr Verhofstadt accused EU Council chiefs of trying to sideline the EU parliament and hand MEPs only the most minimal role in the Brexit negotiations.

Martin Schulz said MEPs and member states are heading for a period of conflict over Brexit.

Webmaster's Commentary: 

Looks like the EU is starting to implode.

Dec 15 07:45

Inflationary Expectations in 2017 Keep the Polish on Gold

Inflation can be understood as the destruction of a currency’s purchasing power. To combat this, investors, central banks and families have historically stored a portion of their wealth in gold. I call this the Fear Trade.

Dec 15 07:41

EU ON BRINK: Brussels SHAMBLES as EU leaders turn on each other in HUGE Brexit split

EU NATIONS have already started squabbling among each other over what Brexit negotiation strategy should be deployed after smaller members demanded the European Commission starts trade talks with Britain as soon as possible.

Dec 15 07:33

Is India PROOF Elites Want To CONFISCATE GOLD? — Andy Hoffman

Is this the model the globalists want to roll out in Western nations as well? Sure looks like it.

Dec 15 07:15

Is Japan Preparing The Market For The Main Crash?

Japan is now priming the market to bring the entire global economy down.

Dec 15 06:04

After Raising Rates Once During The Obama Years, The Fed Promises Constant Rate Hikes During The Trump Era

Now that Donald Trump has won the election, the Federal Reserve has decided now would be a great time to start raising interest rates and slowing down the economy.

Dec 14 17:45

Trump to Meet Tech Firms Apple, Facebook and Google

Leaders of the Silicon Valley were the loudest opponents of the incoming leader of the United States and they have a bunch of pressing questions for the President-elect. Donald Trump will meet with leading tech firms including Apple, Facebook, and Google on Wednesday night.

Dec 14 16:27

So much for unity! EU in disarray as MEPs threaten to start their OWN Brexit talks with UK

Guy Verhofstadt, the EU Parliament’s chief negotiator, savaged representatives from the European Council and threatened to start up his own talks with the UK if MEPs are not given a leading role in the Brexit process. His astonishingly blunt ultimatum will alarm European leaders and signals the start of a long and acrimonious war between the Council, which represents the interests of the individual member states, and the Parliament which speaks for the euro elite in Brussels.

Dec 14 14:09

JIM WILLIE EXPOSES THE GOLD CONSPIRACY

Dec 14 13:21

Only 50% Of Children Entering Labor Force Today Earn More Than Their Parents

For young individuals entering the labor market today, only about half of them are earning more than their parents, according to a report produced by economists from Stanford, Harvard, and the University of California.

Dec 14 13:20

Dr. Jim Willie: We’re Starting to See a Huge Disconnect Between Physical and Paper Gold (Video)

Each day, when the stock market closes, it’s surprising that Americans on Main Street can’t hear coastal elites in their network studios by the sound of all their “Oooooohs,” and their “Ahhhhhhs,” as equity markets keep closing higher and higher. Sadly, for the American people who are relying on our woefully dishonest mainstream media for the valuable information they need, no one is talking about what’s happening in the bond market. 

If there is one thing liberals hate, it’s history (unless of course we’re talking about revisionist history), but if you look throughout history, virtually every single stock market crash we’ve ever had came immediately after a major bond crash, and bonds are beginning to crash in a major way! Despite the mainstream media ignoring it, there has been plenty of information available about enormous amounts of U.S. Treasuries being dumped at once. On multiple occasions over $100 billion in Treasuries has been dumped, often within just a few days. 

Dec 14 13:06

The FED will raise hikes into the "Quad Witching", last time this happened the market tanked.

London home prices are declining rapidly just like in other countries. Gallup sees a completely different outlook on the economy since Trump was elected. Small businesses have hope but they are not seeing the sales and their businesses are suffering.

Dec 14 12:54

NATO-Russia War Seen As Top "Conflict" Risk For 2017 By CFR

A NATO-Russia confrontation has been deemed a top risk by by the CFR survey, conducted by foreign policy experts. This placed it alongside the risk of a nuclear crisis with North Korea, a highly disruptive cyberattack, and a severe terrorist attack on the US among the events with the highest impact on the US.

The likelihoods for the biggest potential conflicts coming true were split into two groups – those with a moderate likelihood of happening, but causing a high impact; and those with a high likelihood of happening, but causing a moderate impact.

Unlike prior years, in 2017 no scenario was deemed both highly likely and highly impactful to U.S. interests, a change from last year when an intensification of Syria’s civil war was considered the most urgent threat. Respondents still considered a worsening of Syria’s civil war to be highly likely in 2017, but downgraded its impact on U.S. interests from high to moderate.

Webmaster's Commentary: 

I certainly wish that the esteemed members of the CFR could prove one incident of alleged "Russian Aggression"; because all I have seen is the polar opposite fact that NATO has been surrounding Russia with weapons and troops, calling for more expanded moves in that direction for next year!

Russia NEVER "annexed Crimea"; in the Spring of 2014, the US government, in collusion with the IMF, NATO, and various Soros organisations, threw the duly elected Yanukovich under the proverbial bus, then anointed Poroshenko as Ukraine's President, in an election even more crooked than a dog's hind leg!!

Victoria Nuland, in a presentation, even bragged about how much the US had spent to destabilize Ukraine, in a presentation:

Victoria Nuland's Admits Washington Has Spent $5 Billion to "Subvert Ukraine"

At that point, Crimean officials understood that there was no honest representation in Kiev, so they first asked their people, in an observed, and honest, referendum as to whether they wanted to stay with Ukraine, or request to join the Russian Federation. The Crimean people voted overwhelmingly to join the Russian Federation. A petition was put forward to the Russian Federation, asking if Crimea could be accepted as a member, and the Russian Federation accepted.

But this act of peaceful self-determination by the Crimeans made the governments of the Ukraine and US so angry, that they accused Russia of having "annexed" Ukraine, so punished them with sanctions, and insisted that the EU follow along.

NATO, Ukraine, and the US government continue to lie about something which Russia never did, and THAT is their basis for characterizing Russia's behaviour as "aggressive".

In fact, this headline should more clearly read "NATO WANTS WAR WITH RUSSIA"; with all the verbal belligerence on the part of NATO Secretary General, Jens Stoltenberg, against Russia recently, particularly concerning its involvement with getting rid of Jihadists, that headline would be more real.

US-RUSSIAN WAR TENSIONS MOUNT OVER EASTERN EUROPE AND SYRIA

NATO to increase its combat readiness amid Russian activity - Stoltenberg

What is needed here is a pullback from the rhetoric, and the introduction of some common-sense, intelligent negotiations here between Russia, NATO, AND THE US Government.

War does not have to be inevitable here.

Russia is not the enemy here, despite NATO's best efforts to paint it as such.

Dec 14 12:30

Fed Hikes Rates For First Time In 2016, Increases Pace Of Rate 'Normalization' Forecast

With 100% chance of at least a 25bps hike (and 10% chance of 50bps), this was perhaps the most 'priced in' of any Fed meeting ever. Of course, it is not whether the Fed hikes or not at a given meeting that matters, but rather what kind of overall hiking cycle it communicates, and so attention is focused on changes to the 'dot-plot'. No surprise here: FED RAISES RATES BY 25 BPS, REPEATS GRADUAL POLICY PATH PLAN, but the forecast is more hawkish: FED OFFICIALS SEE THREE 2017 RATE HIKES VS TWO IN SEPT. DOTS. Of course now all eyes will be on Donald Trump's Twitter account for any response.

Webmaster's Commentary: 

Anyone out there with a variable rate loan or mortgage is very likely to see a sharp increase in your percentage rate, and the money you owe.

Dec 14 12:29

USA Federal Debt Increased By $13,546,533,671,676.73 Since Pelosi Became Democratic Leader

Representative Nancy Pelosi became the Democratic leader in the House of Representatives on Jan. 3, 2003.

Dec 14 11:33

New EPA Rules Will Cost $3,080 per Person

The EPA’s move to implement new rules on heavy trucks has substantially increased the 10-year regulatory burden past $1 trillion mark and 75% of this amount was imposed by Obama’s administration.

Dec 14 11:15

Shariah Gold Standard Is “Revolutionary” – Mobius

Shariah Gold Standard Is “Revolutionary” Says Mark Mobius
One of the world’s leading investors, Mark Mobius told a gold conference in Dubai that the new ‘Shariah Gold Standard’ is both “innovative and revolutionary” and importantly will bring “transparency” to the physical gold market which suffers from a lack of trust.

Dec 14 11:04

Qatar wealth fund plans $10bn investment in US infrastructure

The head of Qatar's sovereign wealth fund has told US officials it will invest $10 billion in the country’s infrastructure projects, Reuters reported. The move is a boost to the economic plans of incoming American President Donald Trump.

Dec 14 10:10

Scottish Amazon Workers Sleeping in Tents, Facing 'Intolerable' Work Conditions

The company annually hires tens of thousands of temporary workers to run its fulfillment centers around the world during the busy winter holiday season.

Webmaster's Commentary: 

Hey, not to worry; this is precisely the kind of life Jeff Bezos envisions for ALL the world's poor, particularly if they have the misfortune of working for his company!

And this will not be the first time Bezos' vision of "social responsibility" has been scrutinized:

Jeff Bezos defends Amazon working conditions from attack

Dec 14 09:03

Mike Maloney - Trump Honeymoon in Markets Will End in 2017, Fed Endgame Is Inflation

Gold and silver expert Mike Maloney says we have seeing bubbles in stocks, real estate and now in bonds. Maloney contends, “The bond market is in a 35 year bull market, and I don’t know how this can continue on forever. . . .

Dec 14 08:34

Interest Rates and a 20,000 Dow

In an astonishing combination of unrelated events, tomorrow’s Federal Reserve decision could be the final impetus that motivates traders to push the Dow Jones Industrial Average above 20,000 for the first time in history.

As we await the Fed’s decision tomorrow, we are witnessing one of the most historic moves in the US equities. This combination of events, which in terms of timing is unrelated, might occur on the same day.

Dec 14 07:50

Not Just Dallas: Fort Worth Employees’ Pension Plan in Deep Trouble

Dallas isn’t the only city in Texas with a sick retirement fund. Nearby Fort Worth is also in deep trouble.

Dec 14 07:35

Forget about Fake News – Worry about Fake Money

Post-election airwaves and publications today are filled with bad news, good news, and fake news.

The bad news is ‘fake news’ is very real. The good news is fake news is nothing new. The even better news for gold and silver stackers is they have learned to live with decades of fake news about sound money.

Dec 14 07:12

IT'S HAPPENING: Rand Paul meets with Steve Mnuchin to discuss monetary policy

He spoke about possibly funding Trump's massive infrastructure project by lowering the tax on repatriated business funds to 6.25%

Dec 14 06:59

Will Today Be Similar To The Fed Announcement In December 2015 For Gold?

Metals firmer ahead of the Fed announcement as traders took some money off their long dollar positions. If the Fed, which is expected to raise rates, mumbles that it will hold for now until fiscal policy becomes clearer, you can expect a serious rally.

Dec 13 18:26

So Who Gets to Pay for Italy’s Banking Crisis? The Answers Are Beginning To Take Shape.

“There is not and there will not be a banking crisis in Italy, nor will there be a European financial crisis coming from Italy.” Those were the emphatic words of EU Economics Commissioner Pierre Moscovici over the weekend.

Dec 13 18:16

IBM boss promises 25,000 new American workers during Trump's first term on eve of summit with tech bosses at Tower

The head of IBM is getting in good with President-elect Donald Trump with a pledge to hire 25,000 Americans during his administration in advance of a tech summit at Trump Tower on Monday.

'At IBM alone, we have thousands of open positions at any given moment, and we intend to hire about 25,000 professionals in the next four years in the United States, 6,000 of those in 2017,' write CEO Ginni Rometty in USA Today.

'IBM will also invest $1 billion in training and development of our U.S. employees in the next four years.'

Dec 13 16:45

Web Bots Predict Massive Financial Shock In Early 2017: ‘Confusion, Bond Market Degradation, Crumbling Of Everything’ - Mac Slavo

Clif High of HalfPastHuman, however, has taken a different course. Since the mid-1990’s High’s algorithms have been scouring the internet. With the advent of social networks and tens of thousands of citizen-driven blogs, that data has gotten ever more accurate. So accurate in fact, that on October 27 High’s automated “Web Bots” predicted that not only would Trump win by a landslide, but that Hillary Clinton would be “missing” following the election, a prediction that was so accurate it blew away just about every professional analysis firm in the world.

Now the Web Bots are predicting another paradigm-shifting event. According to Clif High, it appears that a massive financial shock is brewing for early 2017:

We’re facing the following situation…

The confusion, the degradation of the bond market, the crumbling of everything else…

Webmaster's Commentary: 

As we have counseled so many times on this blog, please don't panic: plan.

Do not have any more money in your bank account than you need to pay your bills.

Reduce your credit card balances to near zero; buy minor items on them, so the cards do not get pulled for non-use.

Buy some silver, and/or gold, if possible. Find a place where you can store it inconspicuously, so it will can not found by looters.

Find neighbours you feel comfortable with, and see what services you can barter with them, if things get really bad. Should this happen, it will be a time when members of small communities really need to support each other.

Make sure you have long-term storable food; potable water; a way to cook things if electricity goes out; extra medications for yourself, your family, and pets.

Make sure, if you are separated from your family, that you have a plan for getting back together. If you have kids in school, make sure you know what the school's policy is if you feel you need to take them home early, in case of an emergency.

Plan an escape route, identify where you need to go, and know precisely what you will take in your bugout kit.

Make sure you have communications devices with you (two way radios, and lots of batteries are a good idea if phones stop functioning) take a look at the product ratings, and see which one looks like the best; also, make sure you have equipment for self-protection ahead of any emergency situation.

Dec 13 15:06

Can Trump End the Reign of “Bubble Finance”?

When we left you Friday, we were in the middle of describing the crooked hind leg of crony capitalism.

We used billionaire businessman Wilbur Ross – Donald Trump’s pick for the Department of Commerce – for illustration purposes.

Dec 13 14:59

Why OPEC’s latest plan doesn’t really matter

We said we’d believe it when we saw it.

Well, now we’ve seen it.

Dec 13 11:40

Is it Just Trump Tower? Or is the Entire New York City Housing Bubble Unwinding?

Not all is well at this glamorous piece of real estate.

Dec 13 10:44

Italy's banking crisis: Unicredit AXES 14,000 jobs and begs investors for cash to survive

ITALIAN banking giant UniCredit is to slash 14,000 jobs, as part of desperate plans to raise billions of euros and avoid a collapse that could destroy the eurozone.

Dec 13 09:44

Silver Fixing By Banks Proven In Traders Chats

Evidence of traders rigging the silver market
Court documents detail private chats between bank traders
Lawsuit alleges widespread rigging of precious metal market
“Avalanche can be triggered by a pebble if u get the timing right” – UBS trader
“If we are correct and do it together, we screw other people hard” – UBS trader

Dec 13 09:38

WELLS FARGO FAKE ACCOUNTS SCANDAL SPREADS TO LIFE INSURANCE BUSINESS

Today, Prudential Financial announced it would suspend the distribution of a low-cost life insurance policy through Wells Fargo. The low-cost life insurance policy, called MyTerm, had been promoted by Wells Fargo since 2014 throughout its large number of retail banking outlets.

The suspension comes shortly after a wrongful termination lawsuit was filed by three former Prudential employees, which alleged that Wells Fargo employees signed up customers for MyTerm life insurance policies without the customer’s knowledge to hit sales goals. The plaintiffs, who worked at Prudential’s corporate investigations division, claim their reports of the fraud led to their termination because Prudential management did not want to take any action that could damage its business with Wells Fargo.

Dec 13 09:32

Hammond: Delay Brexit For Risks To Financial Stability

British Chancellor Philip Hammond has called for a delay to completing the Brexit process, saying it might otherwise pose “risks to financial stability.”

Hammond said Monday that “an emerging view among businesses, among regulators and among thoughtful politicians” necessitated a transitional deal after Brexit.

Dec 13 09:11

Bond Yields are Indicating Another Recession Soon

The spread between two bond yields (I.e. one bond yield minus another) is one of the most widely used indicators in predicting recessions.

Dec 13 09:02

How Inflation Bites Much More than the Official Hoax

No one escapes, not even the Japanese suffering from “deflation.”

Dec 13 08:58

Goldman Sachs President To Advise Trump On Economy

US President-elect Donald Trump has hired the president of the notorious Goldman Sachs to advise him on economy.

In a news release on Monday, the future president repeated his anti-establishment economic promises, juxtaposing them with the official announcement of Goldman Sachs President Gary Cohn as the director of his National Economic Council (NEC).

Dec 13 08:54

Snouts in the Trough, Hooves in the Till

when double-dipping cops and public servants steal from their own

Dec 13 08:53

2017 GOLD & SILVER FORCAST | David Morgan

David Morgan joins FinanceAndLiberty with a word of warning. Morgan says changing the president is like changing the captain on the Titanic. The ship is sinking. The issues are systemic. Trump can't put us back on track to overcome the debt burden.

Dec 13 08:15

Euro Crisis and Contagion Almost Certain In 2017 Warns McWilliams

“It is almost certain that there will be another euro crisis in 2017. The last time we had a euro crisis, the focus of attention was Greece; today the vortex is Italy.

Dec 13 08:08

WHO TRUMP JUST PICKED MOMENTS AGO TO RUN THE ECONOMY IS GOING TO P*SS LIBERALS OFF!

Donald Trump has just announced his pick to head the National Economic Council Today! It’s the highest Economic Job in the country!

Dec 13 08:06

Oakland Warehouse Fire Shows Affordable Housing Is a Tinderbox Issue

Ghost Ship was one of the “warehomes” cropping up around the nation: former industrial buildings converted, often illegally, into living, working, and underground performance spaces. They typically don’t adhere to local building and fire codes. And they are usually located in and around the nation’s hottest and most creative cities, the places that draw in young people who can’t afford to live there.

Officials fear that the warehome trend itself, as much as faulty wiring or errant fireproofing, could spark future cataclysms.

Webmaster's Commentary: 

The "Warehome" concept is hardly new. They were common in New York City in the late 1800s.

Dec 12 23:12

Exclusive Interview with President-elect Donald Trump Dec 11 2016

The Trump Wave – Chris Wallace with President-elect Donald Trump

When asked why would the CIA put out the story that the Russians wanted you to win, Trump said I don’t think it is the CIA, I think it is the Democrat’s,because they suffered one of the greatest defeats in the history of politics.

I am open-minded… I’m somebody that gets it…other countries are eating our lunch…the great American people have been forgotten…millions of people have given up looking for work… I understand our country – Donald J Trump

Dec 12 20:01

Dr. Jim Willie: What Happens When the U.S. is Forced to Launch a Domestic Only Currency? (Video)

Since the Trump victory, Americans have continued to celebrate one new all-time high in equity markets after another, and the globalist controlled mainstream makes sure that Americans have no idea those new all-time highs will be utterly worthless when the Dollar inevitably collapses. How can Americans be sure the media is lying, and U.S. Dollar will collapse sooner before later?

The simple fact of the matter is that the U.S. continues to print over $1 Trillion Dollars out of thin air every year to cover our almost $20 Trillion Dollar national debt. As Dr. Willie explains, the U.S. Dollar is the World Reserve Currency, which means the U.S. Dollar is the foundation element for the currency of our allies (and trading partners) in South Korea, Germany, Canada, Italy, Nigeria, and so on.

Dec 12 18:01

Greece faces permanent crisis as IMF warns bail-out plan 'simply not credible'

The International Monetary Fund has hit back at claims that it is demanding more austerity in Greece, as the Fund warned that the country's ambitious budget targets were "simply not credible".

Firing a broadside at Brussels and Athens, Maurice Obstfeld, the IMF's chief economist, and Poul Thomsen, director of the IMF's European department, said cuts to investment and discretionary spending had "gone too far" and would prevent the Greek economy from recovering.

Dec 12 16:52

Majority of employers planning to take on more staff, says recruiter

Most employers expect to boost job numbers in the new year as the post-referendum panic fades.

ManpowerGroup, the recruitment agency, said its quarterly survey of employers found they have shrugged off concerns about the impact of Brexit to report an improved outlook for the first three months of 2017.

The survey, which is based on responses from 2,104 UK employers, reported a rise of two points in its employment index to +7%, the highest level of optimism in two years.

Mark Cahill, the managing director of ManpowerGroup UK, said: “Employers are still unsure about what exactly Brexit will mean, but are not letting that uncertainty deter them from hiring.”

Dec 12 16:29

RBC Warns January Is Setting Up As A "Massive Mean-Reversion" Month

January has shown a tendency since the turn of the millennium to be an enormous “mean reversion” month — whether across assets or intra-asset (i.e. stock factor or sector performance). RBC's Charlie McElligott explains why.

Dec 12 16:08

Stock Market Genius Warns Americans About False Hope With US Economy (Video)

In recent weeks since Donald Trump was announced victorious in his bid for the White House, the general sentiment among a growing number ordinary Americans across country has shifted to the idea that Mr. Trump can somehow turn around the derelict vessel otherwise known as the U.S. economy, and prevent it from sinking.

With daily sound bites covering how the “Post-Election Trump Bounce” has yielded a rise in the Dow by more than 1,200 points since Trump’s historic win, the announcement of Softbank investing $50 billion dollars and creating 50,000 new jobs in the United States, or the announcement of how the U.S. Dollar index is now at its highest levels since March of 2003, it’s hard to imagine why people wouldn’t be hopeful, right?

Dec 12 15:36

What will Derail The Trump Rally?

Dec 12 14:19

The Walking-Dead Banks Are Setting Us Up For Complete Loss Of Control Over Our Funds, With Complete Complicity Of The Government.

The largest one day moves EVER in HISTORY for stocks and bond rates just happened with Trump election, followed by record highs for stocks re-inflating the bubbles of 2000 and 2008, and setting us up for a tumultuous ride in 2017, which promises to be anything but predictable or secure for your wealth.

Dec 12 13:16

Stop the CIA Coup – The Deep State versus Donald Trump

The CIA is up to its old tricks: overthrowing a democratically elected government. Only this time it’s our government.

“The CIA presentation to senators about Russia’s intentions fell short of a formal US assessment produced by all 17 intelligence agencies. A senior US official said there were minor disagreements among intelligence officials about the agency’s assessment, in part because some questions remain unanswered.” [emphasis added]

Dec 12 12:46

Three signs the American Dream is fading

It’s not just about wealth and fame, after all. For many people, the American Dream means owning their own home, starting a business, or seeing their children do better.

But the hard numbers show that each of these elements is in decline.

Dec 12 12:29

Italy Faces Banking Crisis as ECB Denies Help

The Italian banking system, which has been overloaded by bad loans and severely undercapitalised, is on the verge of a systemic meltdown; however, the European Central Bank (ECB) refused to ‘extend and pretend’ anymore, paving way to possible nationalisations, rife populism and, ultimately, Itexit.

Dec 12 12:20

Foxconn Fires 25% Of India Workers As Demonetization Destroys Sales

While piecemeal anecdotes and surveys have already exposed the devastation that PM Modi's demonetization plan has had on the Indian economy, tonight we see the first hard evidence as Foxconn has asked 25% of its workforce to leave after the cash ban caused sales to collapse by 50% forcing the company to slash production by half.

Amid social unrest and loss of faith in the nation's currency, India's economy has ground to a halt with its Composite PMI crashing by a record in the last month as demonetization strikes.

And now, as The Economic Times reports, the government’s move to ban Rs 500 and Rs 1,000 notes from November 9 has had a domino effect on the mobile phone industry, where a large majority of mobile phones are bought for less than Rs 5,000 and most of the transactions happen through cash.

Webmaster's Commentary: 

Looking at these numbers, one has to ask: has India's Prime Minister Modi gone absolutely, completely barking mad, with this demonetization scheme?!?

Looking at the results of this program, it is almost a shame that the Indian Constitution does not have its equivalent of the American Constitution's 25th Amendment.

The Indian people deserve far better leadership than this government is providing.

Dec 12 12:13

MADURO STUNNER: VENEZUELA ELIMINATES HALF ITS PAPER MONEY AFTER PULLING LARGEST BILL FROM CIRCULATION

Having observed the economic chaos to emerge as a result of India's shocking Nov. 8 demonetization announcement, and perhaps confident it can do better, today president Nicolas Maduro of Venezuela, Latin America's most distressed economy, mired in an economic crisis and facing hyperinflation, likewise shocked the nation when he announced on state TV that just like India, Venezuela would pull its highest denominated, 100-bolivar bill (which is worth about two U.S. cents on the black market), from circulation over the next 72 hours, ahead of the introduction of new, higher-value notes, as large as 20,000.

"I have decided to take out of circulation bills of 100 bolivars in the next 72 hours," Maduro said. "We must keep beating the mafias."

To this we would add "and cue economic chaos", but since this is Venezuela, that's a given.

Webmaster's Commentary: 

The questions rightly need to be asked; at what point with the Venezuelan people revolt against their government, and when that revolt does happen, what side will the Venezuelan military be on?!?

US sanctions against the country have not helped much.

Obama Signs Venezuela Sanctions Extension

And when oil prices were deliberately crashed last year, in an attempt to hurt Russia economically, it also hurt Venezuela economically as well, which the US government knew was going to happen.

The US government has hoped for "regime change" in this country, and may well get it in the not too distant future.

Nature abhors a vacuum.

I just have to wonder just who will wind up replacing Maduro, when he ultimately falls, and how repressive he or she will be, in the process of attempting to bring back Venezuela's economy from utter collapse.

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