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


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


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.


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


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


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


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.

Dec 12 11:19

Welcome back debt! Total household debt rose by $63 billion last quarter pushing total household debt to $12.35 trillion. More than half of the debt increase came through auto loans.

The appetite for debt is now back in a furious way. Total household debt was up $63 billion last quarter driven largely by auto loans. Auto loans increased by $32 billion and the amount of auto debt outstanding is stunning. There is now a total of $1.14 trillion in auto loans floating in our economy. We’ve discussed that a large part of the growth has come in the form of subprime auto debt and that trend seems to be continuing. While Americans in many cases are too broke to afford a home, they are now able to purchase depreciating assets that lose value the minute they roll off the lot. This is unfortunately a bad omen since many families are trying to keep up the pretense of being middle class by buying cars that they cannot afford on credit. Debt is back and it must feel like a comfortable old shirt.

Dec 12 10:26

Capitalism Breeds Reckless Consumption And Starves The Public Sphere

Do we all bear some responsibility for the dominance of capitalism over democracy due to our unrestrained consumerism? The galloping consumption of progressives and conservatives alike extends to cars, bottled water, iPhones, large flat-screen televisions, fashion and more. Wolfgang Streeck explored this and other issues in the following interview with Truthout.

Dec 12 09:14

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.

Dec 12 09:05

How your buddy (not you of course) invests:

Dec 12 09:03

Trump says F-35 program cost ‘out of control’, wants to save ‘billions of dollars’

"The F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20th," he wrote.


Trump’s tweet followed similar criticism he voiced in an interview on Fox News Sunday.

"It's out of control. And the people that are making these deals for the government, they should never be allowed to go to work for these companies. You know, they make a deal like that and two or three years later, you see them working for these companies that made the deal," the president-elect said.

After the Monday tweet, shares of Lockheed Martin Corp. dropped 2.7% in premarket trade.

Dec 12 08:34

Banking crisis whistleblower Jonathan Sugarman claims Irish financial situation has ’gotten much worse’ since collapse

Jonathan Sugarman, a former executive with Unicredit Bank Ireland, resigned from his role in 2007 after informing former Financial Regulator Patrick Neary that he (Sugarman) was breaking the law by signing off on billions of euro that didn’t exist.

The ex-risk manager recently addressed the EU Parliament where he said his concerns were ignored by the Financial Regulator in 2007 and that there is nothing being done to sanction the people responsible for the collapse of Irish banks that led to the recession here.

Dec 12 08:13

2007 All Over Again, Stock Valuations Enter “Crash” Territory

The Trump Christmas stock market rally has taken valuations beyond a point that in the past has signaled trouble...

Dec 12 08:04

Why the Trump Bubble Must Pop

Wall Street is under the profound delusion that the “stimulus” baton will be smoothly and complaisantly handed off to the new Trump/GOP fiscal team early next year, thereby giving the U.S. economy and stock market a shot of adrenaline just in the nick of time. The Wall Street punters are even palpitating about a literal “100 days” of frenetic stimulus action in the vein of FDR in the spring of 1933.

Dec 12 07:37

Yik Yak fires 30 of 50 employees, still has no business model

In a move that seemed all-too predictable, Yik Yak has fired more than half of its staff. According to the Atlanta Journal-Constitution, the local startup laid off 30 of its 50 employees on Thursday.

Since it began in 2013, the company behind the purportedly anonymous messaging app has never had, and still doesn’t have, any obvious source of meaningful revenue. Yet somehow, Yik Yak was valued by venture capitalists at $400 million in December 2014 after Sequoia Capital invested $62 million.

Dec 12 07:09

Boeing agrees $16.6bn deal to sell 80 jets to Iran as sanction ease

Boeing has agreed to sell a fleet of jets to Iran in a $16.6bn (£13.2m) deal that marks a new departure in attempts by the Islamic Republic to rejoin the global economy.

The US plane-maker will sell 50 of its workhorse 737 single-aisle airliners, along with 30 of its “mini-jumbo” 777 aircraft to carrier Iran Air.

Deliveries should start in 2018. The deal follows an agreement last year that the Tehran government stops developing nuclear technology in return for an end to international sanctions.

Dec 12 04:59

Gregory Mannarino-They Can't Have Real Money Competing with Fake Money

On the continued price crush and manipulation of gold and silver prices, Analyst Gregory Mannarino says, “For the longest time, we know the price is not real. It’s been faked. It’s been manipulated.

Dec 11 14:43

There’s Not a Snowball’s Chance in Hell of 4% Growth!

We need more demand, and we’re not going to get it. Not while the greatest generation in history (both in size and influence) are saving more and retiring in droves.

How has Japan’s endless and much more extreme stimulus and QE done in creating higher demand in Japan since its demographic trends peaked in 1996?


It hasn’t done a damn thing.

Dec 11 12:34

Oakland Fire Survivor: Create Affordable, Safe Living Spaces And Stop Mistreating Artists

Mourning continues in Oakland after the death of at least 36 people in a fire at the Ghost Ship warehouse, where the victims were overwhelmingly young artists, activists and community organizers.

Dec 11 08:49

Wells Fargo Scandal Hits Prudential as Whistle-Blowers Sue

Prudential Financial Inc. was accused of covering up fraudulent sales of life insurance policies through Wells Fargo & Co. to low-income customers, marking the latest flareup of the fake-accounts scandal plaguing the third-largest U.S. lender by assets.

Many of the customers, who often had Hispanic last names, didn’t know what they had purchased and there were “a large number of similarities” between the way Wells Fargo employees opened bogus bank accounts without customers’ knowledge and the way Prudential’s “MyTerm” policies were sold by the bank, three of the insurer’s former employees said in a lawsuit filed in New Jersey state court.

Dec 11 04:44

Trumphoria: Americans Are More Optimistic About The Economy Than They Have Been Since Obama’s Win In 2008

Optimism about the future of the U.S. economy has not been this strong since Barack Obama’s first presidential election victory in 2008.

Dec 11 04:35

Government Bond & Mortgage “Carnage” Enters Sixth Week

The bond market is doing the math.

Dec 10 20:18

Turkish citizens rush to exchange US dollars for Lira

The Turkish economy is having a hard time, with the Lira stumbling against the US dollar.

Dec 10 17:13

Demonitization And Gold Price Surge In India

An excellent discussion of the cash situation in india, this helps clarify what is happening and why.

Dec 10 15:25

Save our planet: Worldwide air pollution is making us ill

Graham Peebles highlights the magnitude of the problem of air pollution that is poisoning many people, especially the poor, and underlines the fact that the responsibility for resolving it lies with each one of us.

Dec 10 15:09

Central Bankers Tested,Bail-Outs,Bail-Ins,Banning Cash,Next Gold Confiscation

Consumer confidence surges to new heights, we have seen this prior to the crash of 2008.

Dec 10 12:11

3 Troubling Signs That We’re Still on the Brink of Economic Disaster

There are several reasons why I’m still very concerned about our economy. A lot of people are breathing a sigh of relief with Donald Trump as the President-Elect, but through no fault of his own, he is on the precipice of a massive disaster.

If you’ve been prepping but then stopped because you thought everything will be just fine now that Trump will be taking the reigns, please read this with an open mind. It may be one of the most significant round-ups of information that I’ve written.

Dec 10 11:01

If Everything is so Bullish, Why Are Bank Insiders Dumping Their Shares at Record Pace?

What are they seeing from their perch that we don’t?

Dec 10 09:59

Boom! Dow Chemical CEO Announces New Plant in Michigan at Trump’s Grand Rapids Rally

Dow Chemical CEO Andrew Liveris spoke at Donald Trump’s Thank You rally in Grand Rapids, Michigan on Friday night.

Liveris will head up Donald Trump’s Manufacturing Council.

Dec 10 09:26

Scott Adams: The Time That Reality Forked Right in Front of You

We’re living in one of the most interesting times in human history. We just witnessed reality forking into two separate paths right in front of us.

As regular readers of this blog know, my background in hypnosis and persuasion has erased my belief that some people can see reality for what it is and some cannot. My worldview is that the human brain did not evolve to understand reality on any deep level because we don’t need that ability to survive and reproduce. If your illusion keeps you alive, it’s good enough. And that brings me to today.

Dec 10 04:28

Trump's TAX PLAN: 12%, 25%, 33% - How it affects YOU

“Reduce taxes across-the-board, especially for working and middle-income Americans”: that was Trump’s campaign pledge.

Dec 09 23:31

Scott Adams: Watching Trump Create Money from Nothing -- Also some Climate Change Stuff

Trump, the Master Persuader, is rewiring our brains in real time – while we are watching him do it. He wants us to be optimistic about the economy, so he finds the right buttons (Ford, Carrier, Boeing) and he pushes them. He looks for situations that have simplicity and a visual element. It is easy for people to imagine a Ford automobile, a Carrier air conditioner, a factory, a worker, an airplane, and Mexico. Every element of these stories is visual. That’s not an accident. That is technique.

On Climate Change

Trump is also well on the way to changing the public’s thinking on climate change. Trump met with Al Gore, and he’s meeting with climate activist and actor Leonardo DiCaprio on the topic. Trump is looking for common ground and education on the topic, I assume, but he is almost certainly also looking for the persuasion buttons. And this is a hard one.

Oh, I can't wait until he tackles reopening the 9/11 investigation . . . .

Dec 09 17:17

QE in the EU: Dario Marghi & the Taper that Never Was. Or not.

Anyway, there’s Mario Draghi, Europe’s most unaccountable banker, the Prince of Darkness and President of the European Central Bank, sitting in front of lots of cameras, hacks and scribbling hands. It is, as David Coleman used to say, The Big One.

Dec 09 16:53

Monte Dei Paschi shares and bonds COLLAPSE as ECB REFUSES lender more time for rescue plan

PANICKED creditors have dumped holdings in embattled Monte Dei Paschi di Siena (MPS) amid fears their cash is about to go up in flames ahead of a looming bail-in for the Italian bank.

Dec 09 14:25

Market Insanity Reaches Record Highs As Investors Flock Into The Biggest Bubble In History

Investors have forsaken all reason, logic and wisdom by rushing into the biggest stock and financial bubble in history.

Dec 09 14:18

Post-Brexit Plunge In Immigration Won’t Push Up Wages – Report

Despite claims made by Leave campaigners, a new report says Brexit will have a minimal impact on wages in Britain, with plummeting migration numbers leading to a mere 1 percent rise in pay.

According to a forecast by the National Institute of Economic and Social Research (NISR), migration from the European Union into Britain is expected to fall by as much as 91,000 a year as freedom of movement agreements are predicted to be scrapped. The drop could, however, trigger economic depression and cause Gross Domestic Product (GDP) to slump to 3.4 percent per person by 2030 according to estimates.

Dec 09 13:32

Bill Bonner: Trump’s $64 trillion tower of debt

We continue our humble look at things very old and very new, annoying many dear readers. Many seem to think that “The Donald” really is the savior they’ve been waiting for. So we listened intently last Sunday hoping for an insight.

Dec 09 13:29

The Economic Indicators Turn To The Dark Side

JP Morgan quant warns we are moving towards the dark side. The next domino to fall is the Italian banks and it will spread.

Dec 09 13:14

Homeless People To Be Fined Up To $1,300 For Sleeping On Sidewalk

Homeless people could be fined up to £1,000 for sleeping in doorways near popular tourist spots, under new rules launched by a London council.

It’s not clear how destitute rough sleepers are expected to pay.

Dec 09 12:52

The grim truth of Chinese factories producing the west’s Christmas toys

Xiao Fang thinks she’s one of the luckier workers making Barbie dolls for the Christmas market at the Mattel toy factory in Chang’an.

True, she says, she works 11-hour days, six days a week, and shares a dormitory with nine other women and gets to see her husband only once a week. She had to leave her three-year-old daughter back home in Sichuan. And there is only a communal bathroom, and if they want hot water they must fetch it from another floor. But at least she has a job, she says. And others have it worse.

Xiao is one of thousands of workers in Chinese factories making some of this year’s must-have Christmas toys.

An investigation with the US-based NGO China Labor Watch reveals that toys including Barbie, Thomas the Tank Engine and Hot Wheels were made by staff earning as little as 86p an hour.

Webmaster's Commentary: 

This is where the American consumer has to be using a lot of what my late grandfather called "horse sense", and not allow themselves and their kids to be propagandized as to what is the "must have" toys are for this Christmas, when the toys are made through the practice of nearly slave labor conditions.

The issue of propaganda is very clear to see in commercials; buy the toy, use the product, and you will be happy, as though acquisition, and conspicuous consumption, is the "drug" that will get you there.

But the problem with this drug is, it always wares off,leaving you and your kid hungry for another "fix".

Talk to your kids, if they are of appropriate age to understand, about the fact that the toys they may have their heart set on, are made in slave labor conditions, and you cannot support buying that toy for this reason, but will find a wonderful treat for them somewhere else.

There are many local artists, in many areas, of this country, who make dolls and crafts; why not focus on something like that instead?!? It will probably last longer than any mass-produced toy, be a small way of getting money back into the American system, and be a unique, and treasured part of your kid's life for a long time.

IF you google "American hand made dolls", you will be very surprised at what you find.

If the child is old enough, share with them about alternative giving, and why it is a good thing. Make it a habit to share the gift of caring with them, by donating to a local food bank, or another local charity with which you have a strong resonance, this Christmas season.

Kids who learn to care about others early, and how important it is, grow up to be adults who care for others in this world, and act accordingly.

Dec 09 12:00

Who the Heck are these Households that are Worth $90 Trillion?

Stalled Economy Performs Wealth Miracle, reports the Fed

One thing is working in this economy that has been stuck for years in a slow-growth mire: the inflation of asset prices. And the Federal Reserve, which has been engineering this miracle so adroitly, just released its latest progress report.

Dec 09 11:58

The Worst Thing to Happen to the U.S. Dollar Since 1913

Financial freedom could soon be a thing of the past…

At Casey Research, it’s our job to tell you about situations that threaten your financial well-being. Usually, these are direct threats to your wealth. Think a stock market crash or bond market collapse.

But occasionally, we'll tell you about other kinds of threats. Today is one of those days…

In this issue, we’re going to talk about the “War on Cash.” As you may know, this is an ongoing effort by governments to eliminate paper money. This war is being waged across the world…and it's picking up steam.

Dec 09 11:37

Dallas Pension Fund - From Bad to Worse

2017 will be the year of failing pension funds both private and public around the nation

Dec 09 09:55

Is the U.S. Workforce Nearing Full Recovery? Don’t Trust the Unemployment Rate for the Answer!

Today’s economy doesn’t offer much of an encouragement.

Dec 09 09:55

Bombshell Dropped in Federal Court: Proof of a Silver Market “Mafia” Among Big Banks

Lawyers representing traders who allege they were ripped off by a group of colluding global banks filed eye-popping evidence in a Manhattan Federal Court yesterday showing that even as global banks were being criminally probed for rigging currency markets, they continued to engage in rigging the silver market, with a UBS trader referring to the group as the “mafia.”

Dec 09 08:54

Ron Paul: Here’s How You Can REALLY Bring Jobs Back to America

Dr. Ron Paul tells Ameera why he thinks President-Elect Donald Trump shouldn’t be dealing with individual companies like Carrier and should instead be focused on broader economic reforms, including tax cuts.

Dec 09 08:44

Post-Truth: Facts Pale by Comparison

By Susan Boskey

Chuckling to myself, I could not pass up the opportunity to highlight the Oxford Dictionaries’ international word of the year for 2016, post-truth, an adjective defined as:

"relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and personal belief" ...

Dec 09 08:34

CONFIRMED: Banks Rigging Silver Market

According to the plaintiffs, records surrendered by Deutsche Bank show traders and submitters coordinating trades in advance of a daily phone call, manipulating the spot market for silver, conspiring to fix the spread on silver offered to customers and using illegal strategies to rig prices.

“Plaintiffs are now able to plead with direct, ‘smoking gun’ evidence,’ including secret electronic chats involving silver traders and submitters across a number of financial institutions, a multi-year, well-coordinated and wide-ranging conspiracy to rig the prices,” the plaintiffs said in their filing. The new scheme “far surpasses the conspiracy alleged earlier.” –, December 7, 2016

Dec 09 08:17

Record UK exports drive huge narrowing in trade deficit

Record exports drove a significant reduction in Britain's monthly trade deficit in October, setting a "solid base" for growth in the final quarter of the year.

Exports of goods rose by £2.1bn to £26.8bn in October, according to the Office for National Statistics (ONS).

This is the highest level since records began in 1997, and was boosted by strong goods exports to non-EU countries, which jumped to a record £14.4bn.

The increase also pushed up total exports of goods and services to a record level of £46.4bn, though this was driven solely by goods.

Recent surveys suggest the fall in the value of the pound since the Brexit vote has helped exporters to become more competitive.

Dec 09 07:06

Are We Being Set Up For A Crash? Stocks Hit A Level Only Seen During The Bubbles Of 1929, 2000 And 2007

Will the financial bubble that has been rapidly growing ever since Donald Trump won the election suddenly be popped once he takes office? Could it be possible that we are being set up for a horrible financial crash that he will ultimately be blamed for?

Dec 09 03:12

Time Is The Enemy of The Central Bankers As The Economic Illusion Disappears

The job market is now rolling over, the rate of hiring is in full decline mode.

Dec 08 20:21

India cash crisis: 100,000 villages promised electronic payment machines

Tens of thousands of Indian villages will soon be equipped with card-swiping machines to boost cashless payments, the finance minister promised on Thursday, a month after the government banned high-value banknotes.

Prime Minister Narendra Modi sparked chaos with his shock announcement last month that all 500- and 1,000-rupee notes – which make up 85% of bills in circulation – would cease to be legal tender.

The move triggered a chronic shortage of cash with people queuing for hours outside banks across the country to get rid of their old notes.

Cash accounts for 90% of transactions in India where millions rely heavily on notes for their daily purchases. People living in rural areas and individuals without bank accounts have been particularly hard hit.

Dec 08 20:05

In Unprecedented Move, Dallas Pension System Suspends Withdrawals

"Merry Christmas, mayor. Hopefully you have a good Christmas because you have successfully screwed over the retirees, the firefighters and the police officers."

Dec 08 16:17

Euro Devaluation Accelerates – Millions Of Europeans Wishing They’d Bought Gold

The fact is that the eurozone is coming apart at the seams and the only tool left to delay the inevitable is easier money. As the following chart illustrates, the euro has been declining since 2008, with the descent accelerating lately.

Dec 08 12:44

Texans Close their Wallets, Houston’s Economy Gets Crushed... It’s Not Just The Oil Bust.

Sales tax collections in Texas in November fell 2.7% compared to November 2015 and are down 5.9% year-to-date, according to the Texas Comptroller of Public Accounts.