Sep 14 22:21

Ron Paul: Debt is the Real Pandemic

Sep 14 12:29

The rise and rise of negative interest-rates

Sep 14 06:55

China Dumping USD For Real Stuff NOW. Gold & Silver UNSTOPPABLE | Alasdair Macleod

Sep 14 06:22

"I've Never Seen Anything Like This": Shippers Using West Coast Ports Can't Book Rail On BNSF And Union Pacific

A Northern California logistics consultant was unable to book containers on the Burlington Northern Santa Fe (BNSF) or Union Pacific (UP) railroads for the first week of September going to and from U.S. West Coast ports and Midwest destinations.

The consultant said, “I have been working in the industry for thirty years and I have never seen anything like this. It’s weird.”

The result is that importers of low value products being shipped by containers such as tee shirts would be at an economic disadvantage transporting containers by truck as opposed to by rail between U.S. West Coast ports and Midwest destinations, because of the higher cost.

The consultant explained that there is a huge shortage of rail capacity: “There are no rail cars and there are no chassis.”

Sep 13 07:53

The Fed Has Loaned $1.2 Billion from its TALF Bailout Program to a Tiny Company with Four Employees

According to the Fed’s Term Sheet for the Term Asset-Backed Securities Loan Facility (TALF), it’s going to “help meet the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities.” Not to put too fine a point on it, but asset-backed securities and related derivatives are what blew up Wall Street in 2008, creating the worst economic downturn, at that point, since the Great Depression.

According to the Fed’s TALF transaction data, it has made $2.6 billion in total loans. Forty-six percent of that money, $1.2 billion, went to a company that has 4 employees (outside of clerical workers) according to its filing with the SEC. Much of the Fed’s $1.2 billion was loaned at an interest rate ranging from 0.75 percent to 1.26 percent. The loans are set to expire in three years.

Under the CARES Act passed by Congress, the TALF has received $10 billion in taxpayer support from the U.S. Treasury to eat any losses in this program.

Sep 13 07:52

T-Mobile Merger Approval Violated Every Last One Of the DOJ's Updated 'Antitrust Principles'

Earlier this month, the Department of Justice issued a new, "modernized" merger remedies manual that's supposed to dictate agency behavior as it ponders approving, denying, or applying conditions to major U.S mergers. Superficially, many of the changes outlined in the document make perfect sense. For example, the new breakdown dictates that any merger remedies (including blocking deals outright) should do most of the things you'd expect, such as preserving competition:

Remedies must preserve competition.
Remedies should not create ongoing government regulation of the market.
Temporary relief should not be used to remedy persistent competitive harm.
The remedy should preserve competition, not protect competitors.
The risk of a failed remedy should fall on the merging parties, not on consumers.
The remedy must be enforceable.

Sep 13 06:29

Public Debt higher than WWII

Sep 13 05:47

Directionless Market Awaits the FOMC

Sep 12 11:59

From 9/11 to the Great Reset

As it stands, there’s only one thing we do know: the establishment at the core of the Hegemon and the drooling orcs of Empire will only adopt a Great Reset if that helps to postpone a decline accelerated on a fateful morning 19 years ago.

Sep 12 08:21

Gold Reaches $2,000 Amid Dollar Depreciation

Sep 12 08:02

Who has been buying this stock market?

Sep 12 03:23

40 million evictions coming?

Sep 12 02:33

Circling Back to a Recent Non-Divergence

Sep 11 14:48


Sep 11 12:42

If You Feel Like Something Really, Really Bad Is About To Happen, You Are Definitely Not Alone

No matter who wins the election, the direction of the Fed is not going to change.  They are going to continue to engage in exceedingly reckless manipulation of the markets, and that is going to have very serious long-term implications.

Sep 11 11:49

Temporary To Permanent Job Losses

Sep 11 09:15

The Fed Promises More Dollar Destruction

Sep 11 07:49

Saudi Aramco Is Now Suffering The Consequences Of A Failed Oil Price War

It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis, just as the previous 2014-2016 effort did and for the very same reasons.

For Crown Prince Mohammed bin Salman (MbS), one of the masterminds behind the oil war – the economic and political problems that his country now face appear to come a very distant second to preserving whatever he thinks is left of his own reputation, with the most obvious public manifestation of this being the aftermath of the internationally-shunned omni-shambolic initial public offering (IPO) for hydrocarbons giant, Saudi Aramco (Aramco). Consequently, in order to stand by one of the inducements required to inveigle anyone to buy the shares – in the triple-locked guaranteed dividend payout – swingeing cuts to key projects for Saudi Arabia are now being announced.

Sep 11 07:46

Why One Bank Thinks The World Is "On The Cusp Of A New Era Characterized By Disorder"

Back in July, one of the most respected credit strategists on Wall Street caused stunned gasps across the financial world, when he admitted that he is "a gold bug." Deutsche Bank's Jim Reid may have been forever cast out of the ranks of polite, non tinfoil hat/conspiracy theory society when he said that in his opinion, "fiat money will be a passing fad in the long-term history of money", a shocking admission (if one that many of his peers secretly harbor) for most financial professionals who are expected to tow the Keynesian line and always believe in the primacy of fiat and its reserve currency, the US Dollar.

Sep 11 07:44

"It's Happening Again" - Traders Store Oil At Sea As Recovery Falters 

Crude prices slid Thursday as the stalled global economic recovery from the virus pandemic triggers a "second wave" of demand fears and sparks renewed interest in floating storage as the oil market flips bearish.

Reuters said a "fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again."

Floating storage, onboard crude tankers, comes as traditional onshore storage nears capacity as supply outpaces demand.

Sep 11 07:44

The Race For The US Senate

The contest for control of the Senate may have even larger implications for markets and the investment community. Tax policy, judicial and executive branch confirmations, and the future of the Senate rules on Cloture (the only procedure by which the Senate can vote to place a time limit on consideration of a bill or other matter, and thereby overcome a filibuster) are all up for grabs.

Based on our conversations with campaigns and pollsters, we wanted to share our current views on the state of the various Senate races.

Sep 11 07:43

Container Rate Records Are Shattered As US Imports Surge

Just how high can Asia-U.S. West Coast spot rates go? They blew past $3,000 per forty-foot equivalent unit (FEU) in early August and have been climbing ever since. They’ve just topped $3,700. Can they reach $4,000?

Sep 11 07:04

Narrowest breadth since the Dotcom bubble

Sep 11 05:29

.UK Strikes Historic Free Trade Deal With Japan As Brussels Threatens To Abandon Talks

After a solid nine-month stretch that was blissfully devoid of major Brexit-related news as the global COVID-19 pandemic raged on, we declared last night that Brexit talks "suddenly matter again" as the drop in the pound was blamed - incorrectly, as Bloomberg later determined - for triggering yesterday's intraday declines in US markets.

But on Friday morning, American traders awoke to some surprisingly positive trade news out of Great Britain. A trade deal with Japan had been agreed to in principle, which would - if finally ratified by both countries - allow 99% of the UK's exports to Japan to cross the border tariff-free.

What's more, the deal even gave Johnson the opportunity to gloat, as Reuters reported the digital and data provisions in the agreement went "far beyond" those in the EU's trade deal with Japan.

The deal also allowed BoJo to show voters that Brexit is already giving them new options to strike favorable free trade deals.

Webmaster's Commentary: 

It will be interesting to see how the EU's financial arrangements with the UK either evolve, of devolve, after this treaty.

Sep 10 12:07

Background- 1933 The Bankruptcy of the UNITED STATES

1933 was a year of MAJOR events in America. During this year constitutional money (gold) became outlawed and effectively all property in America become mortgaged and held (in Trust) for the Federal Reserve bank as collateral for the nation debt. All of this was done without the full knowledge or consent of the American people. This was the year that the Government instituted the creation of the ALL CAPITAL letter strawman names (via the newly required Birth certificates) for American citizens thus creating a whole new class of "Persons" as debtor slaves.

Sep 10 10:47


Sep 10 09:04

Ahead of the September FOMC

Sep 10 07:28

Nikola Shares Drop After Hindenburg Research Calls It A "Intricate Fraud", Compares It To Theranos

Nikola shares are selling off pre-market in response to a new report from Hindenburg Research, which calls it an "intricate fraud" based on conversations with former employees.

"Today, we reveal why we believe Nikola is an intricate fraud built on dozens of lies over the course of its Founder and Executive Chairman Trevor Milton’s career," the report claims.

"We have gathered extensive evidence—including recorded phone calls, text messages, private emails and behind-the-scenes photographs—detailing dozens of false statements by Nikola Founder Trevor Milton. We have never seen this level of deception at a public company, especially of this size."

Sep 10 07:11

NSA Chief Who Oversaw Sweeping Domestic Phone Surveillance Joins Amazon Board As Director

Just days after Amazon published a scathing letter slamming President Trump for not allowing the American multinational tech company to get the $10 billion Joint Enterprise Defense Infrastructure (JEDI) contract, which instead was awarded to Microsoft, Amazon's board has just appointed former NSA head and retired general of the US Army Keith B. Alexander as a director.

Alexander will also serve on the board's audit committee, according to Bloomberg on Wednesday. The company which has long faced criticism and scrutiny over its deep CIA ties and collaboration, especially given its prior $600 million contract with the CIA for cloud computing services, will now have a well-known national security state hawk who was commander of US Cyber Command from May 2010 to March 2014.

Sep 10 06:30

ECB Buying Bank Stocks

Sep 10 06:12

48% Of Jobs From Recession Recovered

Sep 10 05:40

Sell-Off as Nazdaq gets sick….

Sep 10 05:38


Sep 10 05:34

Jim Bianco discusses the stock sell-off