Friday, 20 October 2017

The Bank Runs in Catalan Spain Have Begun, Situation Deteriorates


Civil society organizations in Catalonia call for a mass withdrawal of money from bank ATMs on Friday at 8am in order to pressure the Spanish government. Organizers don't especify how much money should be taken out nor what to do with it.

The action targets the five main banks in Catalonia: Caixa Bank, Sabadell, Bankia, BBVA and Santander. Organizers call on clients of Caixa Bank and Sabadell to show their disagreement with the banks' recent decision to move their headquarters out of Catalonia due to the escalating political crisis between governments in Barcelona and Madrid.

This is the first "direct and peaceful" action organized by Crida per la Democràcia (Call for Democracy). This is an umbrella group which includes among others the two main pro-independence organizations in Catalonia: the Catalan National Assembly (ANC) and Òmnium Cultural.

The mass withdrawal is also aimed at condemning the imprisonment of ANC and Òmnium presidents, Jordi Sánchez and Jordi Cuixart, held in custody on sedition charges since Monday.

- Source, Catalan News

Wednesday, 18 October 2017

Keiser Report: Artificial Intelligence


In this episode of the Keiser Report from Standing Rock reservation in North Dakota, Max and Stacy discuss artificial intelligence - aka AI - as the Iron Horse Apocalypse of the modern social media man. The two recall their recent experience interacting with a real self-driving car and the car's human operating system. They also discuss corruption, shakedowns and more financial news.

- Source, Max Keiser

Tuesday, 17 October 2017

FBI Uncovered Russian Bribery Plot Before Obama Approved Uranium One Deal, Netting Clintons Millions

As the mainstream media continues to obsess over $100,000 worth Facebook ads allegedly purchased by Russian spies in 2016 seeking to throw the presidential election, we're almost certain they'll ignore the much larger Russian bombshell dropped today in the form of newly released FBI documents that reveal for the very first time that the Obama administration was well aware of illegal bribery, extortion and money laundering schemes being conducted by the Russians to get a foothold in the atomic energy business in the U.S. before approving a deal that handed them 20% of America's uranium reserves...and resulted in a windfall of donations to the Clinton Foundation.

As we pointed out last summer when Peter Schweizer first released his feature documentary Clinton Cash, the Uranium One deal, as approved by the Obama Administration, netted the Clintons and their Clinton Foundation millions of dollars in donations and 'speaking fees' from Uranium One shareholders and other Russian entities.

Russian Purchase of US Uranium Assets in Return for $145mm in Contributions to the Clinton Foundation - Bill and Hillary Clinton assisted a Canadian financier, Frank Giustra, and his company, Uranium One, in the acquisition of uranium mining concessions in Kazakhstan and the United States. Subsequently, the Russian government sought to purchase Uranium One but required approval from the Obama administration given the strategic importance of the uranium assets. In the run-up to the approval of the deal by the State Department, nine shareholders of Uranium One just happened to make $145mm in donations to the Clinton Foundation. Moreover, the New Yorker confirmed that Bill Clinton received $500,000 in speaking fees from a Russian investment bank, with ties to the Kremlin, around the same time. Needless to say, the State Department approved the deal giving Russia ownership of 20% of U.S. uranium assets

Now, thanks to newly released affidavits from a case that landed one of the Russian co-conspirators, Vadim Mikerin, in jail, we learn that not only was the Obama administration aware the Russians' illegal acts in the U.S. but it may have also been fully aware that "Russian nuclear officials had routed millions of dollars to the U.S. designed to benefit former President Bill Clinton’s charitable foundation during the time Secretary of State Hillary Clinton served on a government body that provided a favorable decision to Moscow." Per The Hill:

Before the Obama administration approved a controversial deal in 2010 giving Moscow control of a large swath of American uranium, the FBI had gathered substantial evidence that Russian nuclear industry officials were engaged in bribery, kickbacks, extortion and money laundering designed to grow Vladimir Putin’s atomic energy business inside the United States, according to government documents and interviews.

Federal agents used a confidential U.S. witness working inside the Russian nuclear industry to gather extensive financial records, make secret recordings and intercept emails as early as 2009 that showed Moscow had compromised an American uranium trucking firm with bribes and kickbacks in violation of the Foreign Corrupt Practices Act, FBI and court documents show.

They also obtained an eyewitness account — backed by documents — indicating Russian nuclear officials had routed millions of dollars to the U.S. designed to benefit former President Bill Clinton’s charitable foundation during the time Secretary of State Hillary Clinton served on a government body that provided a favorable decision to Moscow, sources told The Hill.


Of course, when Schweizer's book first made Uranium One a political hot topic in 2015, both the Obama administration and the Clintons defended their actions and insisted there was no evidence that any Russians or donors engaged in wrongdoing and there was no national security reason for anyone to oppose the deal. That said, we now know that the FBI was aware of wrongdoing going back to at least April 2009 even though the deal wasn't approved until October 2010.

But FBI, Energy Department and court documents reviewed by The Hill show the FBI in fact had gathered substantial evidence well before the committee’s decision that Vadim Mikerin — the main Russian overseeing Putin’s nuclear expansion inside the United States — was engaged in wrongdoing starting in 2009.

The first decision occurred in October 2010, when the State Department and government agencies on the Committee on Foreign Investment in the United States unanimously approved the partial sale of Canadian mining company Uranium One to the Russian nuclear giant Rosatom, giving Moscow control of more than 20 percent of America’s uranium supply.

In 2011, the administration gave approval for Rosatom’s Tenex subsidiary to sell commercial uranium to U.S. nuclear power plants in a partnership with the United States Enrichment Corp. Before then, Tenex had been limited to selling U.S. nuclear power plants reprocessed uranium recovered from dismantled Soviet nuclear weapons under the 1990s Megatons to Megawatts peace program.

And guess who ran the FBI's investigation into this particular Russian plot? As The Hill notes, the Mikerin probe began in 2009 under Robert Mueller, now the special counsel in charge of the Trump case, and ended in late 2015 under the controversial, former FBI Director James Comey who was relieved of his duties by President Trump...

- Source, ZeroHedge, Read the Full Article Here

Monday, 16 October 2017

Michael Pento: Massive Global Defaults Coming in 2018


Economist Michael Pento says even though the stock market has made huge gains in 2017, don’t expect this to continue. Pento contends, “Year-over-year growth for the third quarter (Q3) is just 2.9%. . . . So, you have no more earnings growth. It’s very miniscule. GDP (Gross Domestic Product) according to the New York Fed for Q3, it’s 1.8%. If you look at the Atlanta Fed, it’s just a little bit above 2%. So, you are still stuck in that 2% range. 

There’s no real growth in GDP and no real growth in earnings. The only thing you have left (holding up the markets) is central banks, and that game is ending. You have central banks selling when there is a high risk of nuclear war, WWIII, stocks are trading at all-time record highs and 138% total market cap to GDP when the average is 50%. This is crazy. There is no way you can justify the level of stock prices without massive and unrelenting money printing, which is coming to an end.” 

On gold, Pento says, “You’ve got to have 10% physical gold in your liquid net worth. It has to be physical gold that you possess directly. I cannot stress that enough. . . . I like all precious metals. They are going to be in a massive and unprecedented bull market sometime in 2018.”

- Source, USA Watchdog

Saturday, 14 October 2017

Jim Grant: Trump Wants Low Interest Rates and Cheap Credit


CNBC's Rick Santelli discusses monetary policy with Jim Grant, the founder and editors of Grant's Interest Rate Observer.

- Source, CNBC


Friday, 13 October 2017

Craig Hemke: Comex Silver Deliveries Surge In September

Though Comex metal "delivery" remains a sham and circle jerk where The Banks simply shuffle paper warehouse receipts and warrants, we thought the latest totals for September were noteworthy enough to bring them to your attention.

Again, we've written about this on countless occasions and this post is not meant to imply that "the Comex is about to break" or that "there is a run on The Banks". Instead, September saw the continuation of two trends of which you need to be aware. Comex "deliveries" are up dramatically in 2017 and JPM continues to stand down.

First, take a look at the historical pattern of "deliveries" during the so-called "delivery months" of March, May, July, September and December. Below is a summary of the "delivery" activity for 2015:


The one way we've always quantified "deliveries" here at TFMR is to consider the total amount of stated "deliveries" at the end of each month versus the total number of contracts that had been left open and allegedly "standing for delivery" at the beginning of the process. For 2015, it looked like this:


As you can see, the only outlier in 2015 was the month of July where nearly 1,000 additional contracts materialized requesting immediate "delivery". Other than that, it was a rather orderly process.

Now, let's look at the summaries for 2016.




Again, a rather mundane year of silver "deliveries" with one exception. This time, the month of December saw an "oversubscription". Where Jul15 had seen "deliveries" exceed standing by 938 contracts, Dec16 saw the same exception to the tune of 924 contracts. Other than that, it was another somewhat orderly year.

So let's move on to consider the "delivery" action in 2017 to see if anything unusual is taking place:



Well now. This is beginning to look a bit different, isn't it? Go back up and review the data for 2015 and 2016. Note that only one month in five ever shows a "delivery" total in excess of the amount of contracts still open before First Notice Day. And now, if we include last December, we've seen this occur in four of the past five months with the most recent "delivery month" of September seeing the largest percentage "oversubscription" yet at 160.2%

And when we look at it in absolute terms, the "deliveries" for last month get even more interesting. Note that there were 4,103 contracts still open when the contract went off the board on August 30. At 5,000 ounces per contract, that's a total potential "delivery" obligation of 20,515,000 ounces of silver or about 638 metric tonnes. By the end of the month, the Comex had actually "delivered" 6,575 contracts for 32,875,000 ounces of silver or about 1023 metric tonnes.

So, what's the deal here? Why the sudden rush in 2017 to jump the queue and take immediate "delivery" instead of simply waiting until the next "delivery month"? Could it indicate wholesale physical tightness? Could it indicate a lack of trust amongst The Banks? Could it indicate absolutely nothing?

- Source Sprott Money, Read More Here



Thursday, 12 October 2017

Gold & Silver Overnight Strength: The September Smashing Looks Over

Gold and silver have shown strength in the overnight session. Here’s what went down…

First, here’s how it looks since last Friday’s BLS Report:



Overnight, gold performed well:


And silver performed well:


Although the GSR has clung to the 50-day average:


Here’s what we said about the two metals yesterday:

Gold & silver have been under constant price smashing since September 8th. Can the smashings continue, such as the way we saw the precious metals fall until the end of the year in 2016? They could, but the pressure on price has come much earlier this year than last. The silver price was still at $19 just a year ago. Are they really going to be able to push silver down $2 from here to end the year? Not likely. Yes there is silver (and gold) on the markets at the retail level, but there’s no way there would be much if any left after the rush into the metals if they push the price down that far.

Anybody looking to buy silver under $17 may have just lost that opportunity.

And gold is poised to retest $1300, so anybody looking to buy gold with a 12-handle can do so in paper, but the premium will likely push it over.

And, the banks are back today, so we have full market action.

Grab your popcorn. This is turning out to be a good one to watch…


- Source, Silver Doctors


Wednesday, 11 October 2017

Clive Maund: Gold and Dollar Market Update

Clive Maund sees that the dollar may rally here along with gold which it has done in the past on rare occasion. He also sees technicals such as moving averages in bullish alignment, conditions generally favor a reversal and rally.

Please read the rest here; Gold Market Update



- Source, Clive Maund



Tuesday, 10 October 2017

Keiser Report: Muted Inflation


In this episode of the Keiser Report from Aspen, Colorado, Max and Stacy take a look at the trillion-dollar mystery of muted inflation. While central banks are stumped, the Keiser Report suggests that the insanely concentrated wealth and flushing euros down the toilet could have something to do with it. Max interviews cryptographer Charles Hoskinson, of IOHK.io, about dissing ICOs, banning bitcoin and the future of proof of stake over proof of work.

- Source, RT


Wednesday, 4 October 2017

Bitcoin Surges Above $4400 As World Realizes Jamie Dimon & China Don't Matter

Bitcoin just topped $4400 for the first time since in over 3 weeks and has now erased all of the plunge losses from Jamie Dimon's "it's a fraud" and China's shuttering of all local exchanges.

It didn't take long for the world of crypto-currencies to shrug off Jamie Dimon's self-tighteous denigration of the decentralized currency that could directly 'disrupt' his cash cow businesses; and furthermore, as The South China Morning Post reports, China's bitcoin market alive and well as traders defy crackdown.



As SCMP reports, weeks after Beijing banned fundraising through token launches and ordered some bitcoin exchanges to shut, casting a chill over the cryptocurrency industry, traders say that the market is far from dead.

While several exchanges have announced that they will close by the end of this month, traders have now moved to buy and sell bitcoin directly with each other on peer-to-peer marketplaces and messenger apps.

Although the crackdown has dissuaded large swathes of less-experienced investors from participating in the trade, market participants point to the limits Chinese regulators ultimately face in controlling the industry, where many users are anonymous and difficult to track.

In the short-run, the crackdown has also created an arbitrage opportunity for investors, with the price of bitcoin in China now trading at a discount to overseas exchanges.

“They can’t set rules to stop me from investing in what I want to invest in. They say you are protecting me, but as long as I think this is good, they have no way to intervene,” said a Chinese bitcoin investor named Victor, who declined to give his full name citing current sensitivities.


“I can do over-the-counter trades or I’ll go offshore ... My wallet is my wallet. I’ve never registered my identification card.”

Over 15 exchanges, including the three largest players OkCoin, Huobi and BTCChina, have since announced that they will close their mainland businesses by the end of September.

Trading has spiked generally on peer-to-peer marketplaces, according to data website Coindance. On OTC platform LocalBitcoins, China trading volumes more than doubled in the week starting September 16 from the previous week to 74 million yuan.

It hit an all-time-high in the week starting September 23, reaching 115 million yuan in trades.

“The fact that bitcoin is still being traded is an indication that China isn’t looking to eliminate them, but reposition things in a way to have better control over them,” said Marshall Swatt, the founder of New York-based Coinsetter, a bitcoin exchange acquired by larger peer San Francisco-based Kraken in 2016.

- Source, Zero Hedge


Tuesday, 3 October 2017

Steve Keen on Currency, Savings, Debt and House Prices


Can We Avoid Another Financial Crisis? The short answer is NO, we cannot and will not. Professor Steve Keen goes on to provide the proof needed, to prove beyond a doubt that we are heading for another massive financial crisis and that there is no avoiding it. Prepare before it is too late, don't say you weren't warned.



Monday, 2 October 2017

Puerto Rico: Dr. Ron Paul on How Government's Make Things Worse Not Better


"I'm from the government, and I'm here to help", should send shivers down anyone's spine. 

Natural disasters are, and will always be, difficult to prepare for and bounce back from. Unfortunately, a mistaken belief and faith in government makes both preparing and bouncing back much worse than it has to be. Ron Paul helps to dispel the fantasy of government "help."

 - Source, Ron Paul


Friday, 29 September 2017

Gordon Long: The Markets Are in A Delusional Phase


Investor Gordon Long says the stock market hitting one all-time high after another, despite all the economic headwinds, shows the public is in a “delusional phase.” 

The latest nuclear war threat from North Korea shows the extreme delusion going on, and Long contends, “This is about as clear of an example as you are going to get. This is more serious than the Cuban Missile Crisis, and the fact the market has not even blinked during this tells you we no longer know how to price risk. It’s not being priced correctly... 

It’s almost pure speculation at this point, and maybe straight out gambling.” When is it all going to come crashing down? Long predicts, “I think there is a scare coming this fall. That scare will allow central banks to start more quantitative easing and other programs. 

They will be guaranteeing the markets and guaranteeing assets because they can’t have this pension system collapse, and it’s all in the stock market. I think we are talking about the spring of next year.” (When it all totally implodes.)

- Source, USA Watchdog


Thursday, 28 September 2017

China's ICO Crackdown Boosts Hong Kong's Hopes Of Becoming Blockchain Hub


China’s decision to shutter digital-currency exchanges based on the mainland, a strategy meant to extinguish the rampant fraud and abuse associated with initial coin offerings, or ICOs, is brightening Hong Kong's hopes of asserting itself as a hub for blockchain technology.

As Bloomberg reports, while China has at least nominally embraced blockchain technology - even building a prototype digital yuan – Hong Kong’s city government has gone a step further by encouraging blockchain startups to set up shop in the city. One firm run by Johnson Leung, who has found success in finance and shipping, and now runs a blockchain startup, is focusing on applications for container ship operators.


The city’s embrace of blockchain is its latest attempt to nurture a domestic technology industry that could compliment the city’s dominance in banking and shipping. But as Bloomberg notes, betting on blockchain, a technology that has generated a ludicrous amount of hype, much of it undeserved, could be a risky proposition. Despite Hong Kong’s status as a financial hub, the city, one of the most expensive in the world for average working families, has zero “unicorns” – a term for startups valued at over $1 billion.

Skeptics say it’s a risky bet on an unproven technology - one with more than its fair share of hype and, in some cases, fraud. But a growing number of Hong Kong entrepreneurs and policy makers are convinced the online ledger system that underlies cryptocurrencies like bitcoin will eventually reshape everything from financial services to supply chains. They say the city’s laissez faire approach toward regulation, along with its expertise in finance and logistics, make it a natural hub for blockchain startups.

“I don’t see why Hong Kong can’t be a leader of blockchain technology,” said Leung, who co-founded 300cubits.tech after more than a decade in the financial industry that included stints as a research analyst at JPMorgan Chase & Co. and Jefferies Group LLC. “It’s so new that it’s not like any country has a huge advantage compared to us.”

As Bloomberg explains, the city’s government has been throwing resources at the technology, developing its own digital currency and testing different blockchain use-cases.

The city’s monetary authority is developing its own digital currency and is testing blockchains for trade finance, mortgage applications and e-check tracking. Hong Kong’s securities regulator has joined R3, a global consortium that develops blockchain technology for financial transactions, while a government-backed research institute has worked on a blockchain-based system for tracking property valuations, among other initiatives. Hong Kong Exchanges & Clearing Ltd., the city’s publicly-traded exchange monopoly, plans to start a blockchain platform for early-stage companies and their investors next year.

“Blockchain is a very high priority for us,” said Charles d’Haussy, head of fintech at InvestHK, a government economic development agency...


- Source, Zero Hedge, read more here.



Wednesday, 27 September 2017

The Evil Plan By The Elites To Control Humanity


With continued uncertainty around the globe, today the man who has become legendary for his predictions on QE, historic moves in currencies, spoke with King World News about the evil plan by the elites to control humanity and $15,500 gold.

The Evil Plan By The Elite


Egon von Greyerz: “For news to be read and understood by a great number of people, it must be simple, sensational and forgettable. Most individuals are not interested in “heavy” news or complicated issues. Just compare television and newspapers today to say 50 years ago. At that time, newspapers had very few pictures. Instead, newspapers covered serious matters with in depth analysis. The same was true with television…

In Volatile Markets, Is Wealth Preservation King?

In a King World News interview I spoke with the man who predicted the Swiss National Bank would experience staggering losses and that the Fed would also experience massive losses that will destabilize the global financial system! His company is the only one in the world offering a precious metals investment service outside the banking system, with direct ownership and full control by the investor. He has also become legendary for his predictions on QE, historic moves in currencies, and major global events.

Egon von Greyerz continues: 

“In the 1960s there was serious news and many programs which raised important issues in society or politics, which many people listened to and grasped. But today everything must be dumbed down to the lowest common denominator of readers or viewers. For a paper to sell or a television station to receive advertising revenue, any news must be superficial and short. Most content must have an entertainment or gossip value. Same with television. All serious matters are either left out or covered very briefly. We are now in the age of instant gratification. People’s attention can only be kept by short, superficial language, lots of big images and constant change of focus. On television, no camera position must remain on one subject for more than a few seconds because people’s attention span only lasts for a brief moment.

Purposeful Dumbing Down Of The Masses…

This has led to most people either becoming ignorant or misinformed. The political correctness contributes to the misinformation since, to a great extent, a small group of individuals determine what is politically correct...


- Source, King World News, Read More Here


Monday, 25 September 2017

China and Russia Have a Long Term Plan and Its Gold


China and Russia’s geopolitical strategy has been evolving long enough for observers to understand it and the implications for the West. We can assume the strategic thinkers and intelligence agencies of all the major players have a reasonable grasp of the implications, including America, which is determined not to lose in this Great Game. That was the point behind Steve Bannon’s candid interview with Politico.

Bannon was deluded about the extent of America’s economic and financial power. He is now out. We are back to geopolitics being decided by the military. Meanwhile, China’s interests have almost certainly moved firmly towards dumping the dollar. This can only be done successfully by linking the yuan to the characteristics of physical gold, the market which China has effectively cornered.

If gold crosses the $1300 Rubicon, it may be taken as an early sign that China’s long-term plan of monetising her gold is progressing towards the next stage. The oil-for-yuan futures contract is due to be launched very shortly, allowing countries like Iran to buy gold freely, paid for by oil sales.

Alternatively, if China defers securing the yuan to gold, the dollar still looks like weakening against other currencies, reflecting a US economy isolated from the positive Asian story. The pace of the rise in the gold price might be slower, but the direction seems equally certain.

Eventually, gold will need to rise to a level where the Chinese are prepared to set a conversion rate. Expect China to use its control over physical gold markets to achieve it at a time of its own choosing. Leaving the $1300 price behind could well be the start of the move towards this objective.



Saturday, 23 September 2017

Bitcoin, Sour Grapes and Jamie Dimon

If I had a bitcoin for every time some pundit declared bitcoin is a bubble, I’d be a billionaire. There are three problems with opining that bitcoin and cryptocurrencies are bubblicious:

Everything is in a bubble now: stocks, bonds, housing, heck, even bat guano is bubblicious. Exactly what insight is being added by yet another guru repeating the BTC is a bubble meme?
What’s the value proposition in declaring BTC is in a bubble? Spotting bubbles is like shooting fish in a barrel; the value proposition is in identifying the price/time tipping point at which bubbles pop.

Declaring bitcoin is a bubble is starting to sound like sour grapes. Sour grapes defined: those who missed the 10-bagger (never mind the 100-bagger) feel better by dismissing the whole thing as a fad and a bubble, but as BTC continues marching higher, it looks like they missed the boat but are too proud to admit they didn’t grasp the significance of cryptocurrencies and BTC in particular.

Take J.P. Morgan CEO and President, Jamie Dimon.

He came out recently and called Bitcoin a fraud.

Well, here’s a quick question for you, Mr. Dimon: which words/phrases are associated with you and your employer, J.P. Morgan?

Looting, pillage, rapacious, exploitive, only saved from collapse by massive intervention by the Federal Reserve, the source of rising wealth inequality, crony capitalism, privatized profits-socialized losses, low interest rates = gift from savers to banks, bloviating overpaid C.E.O., propaganda favoring the financial elite, tool of the top .01%, destroyer of democracy, financial fraud goes unpunished, free money for financiers, debt-serfdom, produces nothing of value to society or the bottom 99.5%.

Jamie, if you answered “all of them,” you’re correct.

The only reason you have a soapbox from which you can bloviate is the Federal Reserve saved you and your looting machine (bank) from well-deserved oblivion in 2008-09. That, and the unprecedented, coordinated campaign by global central banks to buy trillions of dollars of bonds and stocks.

J.P Morgan would have done very well in the past eight years if they’d replaced you with a crash-test dummy. In fact, the shareholders would have done much, much better if the crash-test dummy had a Post-It note on its chest reading “buy bitcoin.”

Compare the return for an investor who “bought the dip” in J.P. Morgan stock (JPM) at $57 in early February 2016 and the investor who bought bitcoin (BTC) at $376 at the same time.

The buyer of JPM has certainly done well, earning a return of around 77% over the 19 months (JPM has risen from $57 to $91, a gain of $44, not counting dividends). But the buyer of bitcoin has earned about a 10-fold increase, gaining $3,200 per bitcoin at the current price around $3,560. (A few weeks ago, an owner of BTC could have skimmed an additional $1,000 per coin.)

The buyer of 1,000 shares of JPM for $57,000 gained $44,000 plus dividends, yielding a total of around $93,000, while the buyer of $57,000 worth of bitcoin at $376 (roughly 150 BTC) gained $478,000 and has a total of $534,000.

The buyer of JPM could sell his shares, pay the capital gains tax and buy a modest mid-sized car with the gains. The buyer of bitcoin could sell his bitcoins, pay the capital gains tax and buy a very nice house or flat in all but the most overvalued markets with his gain, and buy a brand-new vehicle with whatever cash is left.

Some initial coin offerings have made gains that make this mere 10-bagger look like small change.

And a lot of institutional fund managers are angry that they’ve missed out.

This might look like a speculative side-game, but for institutional money managers, it’s getting serious. As we all know, it’s becoming increasingly difficult to manage money such that the returns on the managed money exceed the return of an S&P 500 index fund.

If a passive index fund does better over five years than an actively managed fund, then what the heck are we paying the fund managers big bucks for?

- Source, The Daily Reckoning, Read More Here


Thursday, 21 September 2017

The Mexican Congress Debates the Monetization of the Libertad Silver Ounce


On September 13th I participated in the Forum for "The Promotion of Savings by Mexicans" organized by the group "Legislators in Favor of Savings by the People" who are members of the Chamber of Deputies (i.e. "Congressmen") in the Mexican Federal Congress; the group is led by Congressman Francisco Javier Pinto. The fact that this meeting took place at the seat of one the Legislative Houses of the Mexican Republic is extraordinary news, because there are few things so important for the development of the national economy and the economy of Mexican families, as savings.

According to the poll taken by the "National Poll Regarding Financial Participation in 2015", 32% of the population saves informally, that is to say, by "stuffing money under the mattress" and other invented measures, and only 15% saves in a formal manner, for example, by depositing money in a bank account, or by purchasing Government Treasury Certificates ("CETES") or by voluntary contributions to their official retirement account ("AFORES").

These options are preferable than just saving pesos, though they are not winners, nor do they allow Mexicans to retain the purchasing power of their savings: they are only alternatives that provide less loss of purchasing power.

It is just for this reason that it is imperative to go further. At the Forum we insisted on the proposal to give a stable value to the Mexican silver coin. I'll explain in few words.

The central feature of the proposal is that the Central Bank of Mexico (Banxico) shall determine a value in pesos for the "Libertad" silver ounce; and that this value shall be slightly higher (by a percentage that would be defined in the corresponding Law) than the price of silver in the international market, in order to provide Banxico with an assured profit in minting and placing these coins in monetary circulation.

Today, for example, at the present rate of exchange and the present price of silver, the Mexican silver ounce is worth $320 pesos. Now suppose the Proposal requires an overprice of 10%. In that case, Banxico's monetary quote for the "Libertad" silver ounce would be for $352 pesos.

If the price of silver should plunge tomorrow to $250 pesos to the ounce, for example, the Mexican central bank would keep the monetary value of the "Libertad" ounce stable. In that way, the saver would not loose and the silver coin would remain "in circulation". (Actually, the public will scarcely use the silver "Libertad" ounce as money, due to Gresham's Law; practically all ounces will be held as savings for the long term or for emergencies, and the public will choose to keep on spending fiat money for daily needs, because it is money of no quality at all).

As a matter of fact, all the coins we carry around in our pockets are also worth less as plain metal, than their stamped nominal monetary value, and when their metal is worth more than the stamped value on the coins, they go out of circulation and are replaced by cheaper coins. (Why do you think we no longer see coins for 5, 10 or 20 centavos (cents) any more, and you hardly ever see the yellow 50 centavo coins?).

On the other hand, if the price of silver should shoot upward, Banxico would have to issue new, higher quotes for the "Libertad" silver ounce (according to the formula to be established by Law). In this way, again, the coin will remain "in circulation", and since it has no nominal price stamped on it, it will avoid ending up - like all the old silver coins that had stamped values - at the refineries.

Most of those old silver coins, once their content was worth more than the peso stamped value on their faces, ended up in the refineries. The holders of the coins sold their coins at a profit, for their silver content.

This won't happen with the "Libertad" silver ounce, whose value will be adjusted upward, and benefit the saver, who will thus retain his purchasing power no matter what may happen with inflation. Thanks to owning silver "Libertad" ounces, the public's savings will float on the ocean of currency through the years.

The great peace of mind for the investor, great or small, will encourage savings and financial responsibility better than any other policy of public stimulus.This is not the first time that this proposal comes before the Mexican Congress, but we pray that this time it becomes a reality. We hope so. It's for Mexico, the world's Número Uno producer of silver!

- Source, Plata


Monday, 18 September 2017

Chris Martenson: Central Banks Are Terrified


Resource analyst and futurist Chris Martenson points out, “The Dow is hitting all-time highs. So, it can’t be that bad, right? The Dow is used as a signaling device, and it says have faith in your leadership and everything is fine. Under the covers, obviously, things are not fine. 

The people I talk to are nervous and worried. One reason is because it’s fall, and that is sometimes when we see these corrections, but the other reason is everything we track is getting more and more fragile. These markets are held together by confidence...

I can’t tell you the number of people that used to be investors that say they just don’t trust these markets. They are rigged and they understand that. They don’t want any part of that.” 

In closing, Martenson contends, “By many metrics, this market has never been more expensive,What goes up has to come down. I am convinced the central banks are so petrified to let a 1% or a 2% correction happen...

What does it mean when the central banks are so petrified that they can even allow a correction to get started? That’s what people should be focused on.”



Sunday, 17 September 2017

Blowing the Roof Off the Debt, Fiat Money Out of Control


Peter Schiff discusses the recent debate surrounding the debt ceiling and how it will be raised once again. The can has been kicked down the road, over and over again and at this point is barely movable because of how large it is getting.

How long can the US continue, before it loses control and its debt spirals out of control? Peter Schiff explains this recent news.


- Video Source


Friday, 15 September 2017

Keiser Report: Modi's Demonetization


Max and Stacy discuss India’s disastrous ‘demonetization’ programme which has resulted in the opposite of what Modi’s government claimed was their intention. In the second half, Max continues his interview with Michael Pento of PentoPort.com on gold returning to a bull market amidst the emerging market meltdowns.



Gold Would Be Higher But Buyers Are Jumping Ship to Bitcoin


As gold loses steam after rallying to 12-month highs, one market expert says he is seeing bitcoin take a chunk out of the yellow metal. "I think it's a big part of the problem in terms of stalling gold's rally. 

In my eyes gold is always a currency play not a safe-haven play, now that you have other currencies getting real traction they are taking part of the buyers away from gold," said Todd 'Bubba' Horwitz, founder of bubbaatrading.com In mid-July, Bitcoin was trading around $1,985 per coin before continuing its rise higher. 

As hostilities increased between North Korea and the U.S., it broke the $3,000 mark before slicing through the $4,000 level with ease. But fret not gold trackers, Horwitz added that another yellow metal rally is coming.

- Source, The Street

Wednesday, 13 September 2017

John Rubino Federal Reserve to Blame for Boom and Bust Cycles


John Rubino believes that the Federal Reserve and interest rate manipulation is to blame for the boom and bust cycles and says how important the balance sheet is.

- Source, Jay Taylor Media

Monday, 11 September 2017

With Debt Ceiling Looming, Gold Is The Hedge You Want


The gold market is looking ‘buoyant,’ this according to Tocqueville portfolio manager Doug Groh, who called the recent rally in gold back in March of this year. ‘We got through the summer downturn, and it has now become a constructive gold market,’ Groh said.

Groh, who manages Tocqueville’s $1.25-billion gold fund, said it was important for gold to break through the $1,300 - $1,303 level, which it managed to do earlier this week. Groh said that the conversation now becomes focused around the debt ceiling, “[I]nvestors will look at their equity portfolio and want to make sure they are finishing off the year in good form – [they are saying], I'm going to take some money off the table and hedge my position, gold is a perfect diversifier for that.” 

He also commented on the rise of cryptocurrencies, which he called ‘faddish.’ ‘The thing about cryptocurrencies is that there is risk to the system you participate in, whereas gold around the world is recognized as a monetary instrument.’

- Source, Kitco News

Monday, 4 September 2017

The Bear Market For Gold is Officially Over, Next Stop $1,370


Gold prices ended Thursday with good gains and were poised to finish with a bullish 10-month high close. One technical analyst is so convinced by the metal's chart action that he is calling for the official end of the bear market. "I thought the move up to $1,331 was healthy, and the pullback was actually healthier. 

I'm not concerned about the dollar anymore, gold is becoming a new currency for a lot of people," said Todd 'Bubba' Horwitz, the founder of BubbaTrading.com. "I am calling the bear market for gold officially over - $1,370 will be our next major stop," he said. Many traders saw early price weakness as a value-buying opportunity and jumped on board the long side. A weaker U.S. dollar index also worked in favor of the precious metals market bulls. December Comex gold was last up 0.77% at $1,324.20 an ounce.

- Source, Kitco News

Saturday, 2 September 2017

Martin Armstrong: The Next Great Depression Is Going To Be A Collapse Of Bonds And Governments


The infamous Martin Armstrong discusses the unavoidable collapse that the world faces and how it is going to begin. How will governments around the world handle the next collapse?

- Video Source

Thursday, 31 August 2017

Never Ending Trump Surge in The Markets


Max and Stacy discuss Democrats not looking forward to Hillary’s ‘blame everyone but herself’ book tour. In the second half Max interviews Wolf Richter of WolfStreet.com about the never ending Trump surge in the markets.
- Source, Max Keiser

Tuesday, 29 August 2017

Hugo Salinas Price: 'There Is No Cure for this Disease...'

In 1934, through the Gold Reserve Act, President Roosevelt devalued the dollar from $20.67 dollars per ounce, to $35 dollars per ounce.

The devaluation was excessive, meaning that at $35 dollars per ounce, the world considered that it would rather own American dollars - as undervalued - rather than gold; for this reason, and because of fears regarding another World War, the world shipped enormous quantities of gold to the US, in exchange for US dollars.

The consequence was that the stash of American gold, at the end of WW II, was about 22,000 tons of gold.

The huge error which the American administration committed at the Bretton Woods, N.H., international monetary conference in 1944, where the monetary order of the post-war world was determined, was to force upon the world a defective monetary system: gold was to be the foundation of the post-war world economy, supported by the US dollar, which was to be considered - like it or not - as good as gold.

This huge mistake has brought the US and the world to an enormous economic distortion: all production in all countries of the world, today, and all economic relations, both internally within nations and with regard to their international relations, are disconnected from reality.

After the war, the US continued the policy to which it was and is addicted: credit expansion. Consequently, the undervaluation of the dollar in 1934, turned into an overvaluation of the dollar, and US gold began to be purchased by the rest of the world at what was regarded as an increasingly attractive price of $35 dollars per ounce. Accordingly, the US stock of gold began to contract as gold left the country.

In 1955, when I was 23 years old, and returning from a trip to Europe with my bride on the Italian passenger liner, the "Andrea Doria", I recall after-dinner conversations with elderly gentlemen in the lounge, and the subject of the conversations was the persistent loss of gold on the part of the US.

In the post-war period, as a result of the Bretton Woods Agreements of 1944, the rest of the world accumulated dollar reserves - "as good as gold" - and this helped mask the consequences of the constant US credit expansion. However, there was a fly in the ointment: the perceptive Jacques Rueff, Economics Minister of General Charles de Gaulle, President of France, alerted de Gaulle to the fact that the US was both expanding internal US credit, and external credit by sending US dollars to France in payment for French imports to the US: French acceptance of dollars as payment, was actually credit extended to the US, and according to Rueff, this was unwise.

General de Gaulle thereupon insisted on returning the dollars held by the Bank of France to the US, and demanding in return, the gold to which it had a right. In May of 1968, Paris was shaken by very severe Leftist rioting and President de Gaulle was very nearly deposed. Obviously, the US had not been pleased with General de Gaulle's attitude.

Nevertheless, the outflow of gold from Fort Knox to the rest of the world continued unabated. The cheap dollar purchased a lot of gold, at $35 dollars an ounce.

As we all know, Fort Knox continued to bleed gold until August 15, 1971 when the gold stock having reached some 8,000 tons, President Nixon "temporarily" closed the gold window. The "as good as gold" part of the Bretton Woods Agreements of 1944 had ended. The irredeemable US dollar - a figment of the imagination - was now the basis of the world's economy.

World trade did not stop in its tracks. The world continued to revolve around its own axis in 24 hours a day, and the nations of the world went on using the irredeemable dollar as the foundation of their national economies and their banking systems.

Gold reserves ceased to have any importance for finance ministers around the world. Gold became the "barbarous relic" of J. M. Keynes. Having dollars now became the paramount objective of finance ministers and Central Bank chiefs.

The question for the rest of the world was no longer "We cannot allow excessive credit expansion, because we have to protect our gold reserves." After August 15, 1971, the new question was: "We must export more than we import, in order to have growing reserves of US dollars; because if we have more dollars, we can also expand credit - like the US - and grow our economies." If the rest of the world wanted more dollars in order to "grow their economies", there was, in the last resort, only one country that provided the necessary dollars: the US.

Consequently, the rest of the world went to work to sell whatever it could, to the US, and receive dollars in payment. National prosperity for the rest of the world required a flourishing export market in the US. Those who had nothing to sell to the US were out of luck. Those selling lots of stuff to the US, enjoyed prosperity.

What was the key to selling to the US, for the all-important dollars received in return?

The key, for all countries, was to undersell the local US producers of whatever the rest of the world had for sale. There was no other way to obtain dollars.

It is fitting to remember, how pleased Americans were, back in the 70's, to see their smoky, polluting industries close down, to be replaced with green malls and pleasant cafés, with areas for exercising, sunning and shopping. The time was hailed as the "The greening of America".

What happened to America was a Greek tragedy writ large. By its own hand, the US has destroyed itself. Its huge advantage - the right to issue the world's fundamental money, the dollar - turned into the sword which disemboweled its own guts.

There will be no "make America great again". President Trump will fail utterly, in re-industrializing the US: that cannot possibly happen unless the dollar ceases being the world's reserve currency. Huge fissures in the social make-up of the US are surfacing. The rest of the world looks on in shock, as it contemplates what is going on in the US.

The US is afflicted with a "terminal disease". To introduce a bit of levity into this dismal essay, herewith:

HENRY KING, who chewed bits of string, and was early cut off, in dreadful agonies, by Hilaire Belloc:

THE Chief Defect of Henry King
Was chewing little bits of String.
At last he swallowed some which tied
Itself in ugly Knots inside.
Physicians of the Utmost Fame
Were called at once; but when they came
They answered, as they took their Fees,
'There is no Cure for this Disease.
Henry will very soon be dead.'
His parents stood about his Bed
Lamenting his Untimely Death,
When Henry, with his Latest Breath,
Cried 'Oh, my Friends, be warned by me,
That Breakfast, Dinner, Lunch, and Tea
Are all the Human Frame requires...'
With that, the Wretched Child expires.

A return to gold on the part of the US is unthinkable. It is much too late. Such a move would produce unimaginable social chaos in the US and put an end to the all-powerful "Military-Industrial-Congressional Complex". Total chaos lies ahead, unavoidably, and will present itself as disease intensifies; no politician can be willing to advance its arrival with a monetary reform.


Monday, 28 August 2017

Paul Craig Roberts Destroys “Presstitute Lavish Devotion to Their Masters”

In the United States “conspiracy theory” is the name given to explanations that differ from those that serve the ruling oligarchy, the establishment or whatever we want to call those who set and control the agendas and the explanations that support the agendas.
The explanations imposed on us by the ruling class are themselves conspiracy theories. Moreover, they are conspiracy theories designed to hide the real conspiracy that our rulers are operating.
For example, the official explanation of 9/11 is a conspiracy theory. Some Muslims, mainly Saudi Arabians, delivered the greatest humiliation to a superpower since David slew Goliath. They outsmarted all 17 US intelligence agencies and those of NATO and Israel, the National Security Council, the Transportation Safety Administration, Air Traffic Control, and Dick Cheney, hijacked four US airliners on one morning, brought down three World Trade Center skyscrapers, destroyed that part of the Pentagon where research was underway into the missing $2.3 trillion, and caused the morons in Washington to blame Afghanistan instead of Saudi Arabia.
Clearly, the Saudia Arabians who humiliated Ameria were involved in a conspiracy to do so.
Is it a believable conspiracy?
The ability of a few young Muslim men to pull off such a feat is unbelievable. Such total failure of the US National Security State means that America was blindly vulnerable throughout the decades of Cold War with the Soviet Union. If such total failure of the National Security State had really occurred, the White House and Congress would have been screaming for an investigation. People would have been held accountable for the long chain of security failures that allowed the plot to succeed. Instead, no one was even reprimanded, and the White House resisted all efforts for an investigation for a year. Finally, to shut up the 9/11 families, a 9/11 Commission was convened. The commission duly wrote down the government’s story and that was the “investigation.”
Moreover, there is no evidence to support the official conspiracy theory of 9/11. Indeed, all known evidence contradicts the official conspiracy theory.
For example, it is a proven fact that Building 7 came down at freefall acceleration, which means it was wired for demolition. Why was it wired for demolition? There is no official answer to this question.
It is the known evidence provided by scientists, architects, engineers, pilots, and the first responders who were in the twin towers and personally experienced the numerous explosions that brought down the towers that is described as a conspiracy theory.
The CIA introduced the term “conspiracy theory” into public discourse as part of its action plan to discredit skeptics of the Warren Commission report on the assassination of President John F. Kennedy. Any explanation other than the one handed down, which is contradicted by all known evidence, was debunked as a conspiracy theory.
Conspiracy theories are the backbone of US foreign policy. For example, the George W. Bush regime was active in a conspiracy against Iraq and Saddam Hussein. The Bush regime created fake evidence of Iraqi “weapons of mass destruction,” sold the false story to a gullible world and used it to destroy Iraq and murder its leader. Similarly, Gaddafi was a victim of an Obama/Hillary conspiracy to destroy Libya and murder Gaddafi. Assad of Syria and Iran were slated for the same treatment until the Russians intervened.
Currently, Washington is engaged in conspiracies against Russia, China, and Venezuela. Proclaiming a non-existent “Iranian threat,” Washington put US missiles on Russia’s border and used the “North Korean threat” to put missiles on China’s border. The democratically elected leader of Venezuela is said by Washington to be a dictator, and sanctions have been put on Venezuela to help the small Spanish elite through whom Washington has traditionally ruled South American countries pull off a coup and reestablish US control over Venezuela.
Everyone is a threat: Venezuela, Yemen, Syria, Iran, Iraq, Afghanistan, tribes in Pakistan, Libya, Russia, China, North Korea, but never Washington.
The greatest conspiracy theory of our time is that Americans are surrounded by foreign threats. We are not even safe from Venezuela.
The New York Times, the Washington Post, CNN, NPR, and the rest of the presstitutes are quick to debunk as conspiracy theories all explanations that differ from the explanations of the ruling interests that the presstitutes serve.
Yet, as I write and for some nine months to date, the presstitute media has itself been promoting the conspiracy theory that Donald Trump was involved in a conspiracy with the president of Russia and Russian intelligence services to hack the US presidential election and place Trump, a Russian agent, in the White House.
This conspiracy theory has no evidence whatsoever. It doesn’t need evidence, because it serves the interests of the military/security complex, the Democratic Party, the neoconservatives, and permits the presstitutes to show lavish devotion to their masters. By endless repetition a lie becomes truth.
There is a conspiracy, and it is against the American people. Their jobs have been offshored in order to enrich the already rich. They have been forced into debt in a futile effort to maintain their living standards. Their effort to stem their decline by electing a president who spoke for them is being subverted before their eyes by an utterly corrupt media and ruling class.
Conspiracy theories are the backbone of US foreign policy. For example, the George W. Bush regime was active in a conspiracy against Iraq and Saddam Hussein. The Bush regime created fake evidence of Iraqi “weapons of mass destruction,” sold the false story to a gullible world and used it to destroy Iraq and murder its leader. Similarly, Gaddafi was a victim of an Obama/Hillary conspiracy to destroy Libya and murder Gaddafi. Assad of Syria and Iran were slated for the same treatment until the Russians intervened.
Currently, Washington is engaged in conspiracies against Russia, China, and Venezuela. Proclaiming a non-existent “Iranian threat,” Washington put US missiles on Russia’s border and used the “North Korean threat” to put missiles on China’s border. The democratically elected leader of Venezuela is said by Washington to be a dictator, and sanctions have been put on Venezuela to help the small Spanish elite through whom Washington has traditionally ruled South American countries pull off a coup and reestablish US control over Venezuela.
Everyone is a threat: Venezuela, Yemen, Syria, Iran, Iraq, Afghanistan, tribes in Pakistan, Libya, Russia, China, North Korea, but never Washington.
The greatest conspiracy theory of our time is that Americans are surrounded by foreign threats. We are not even safe from Venezuela.
The New York Times, the Washington Post, CNN, NPR, and the rest of the presstitutes are quick to debunk as conspiracy theories all explanations that differ from the explanations of the ruling interests that the presstitutes serve.
Yet, as I write and for some nine months to date, the presstitute media has itself been promoting the conspiracy theory that Donald Trump was involved in a conspiracy with the president of Russia and Russian intelligence services to hack the US presidential election and place Trump, a Russian agent, in the White House.
This conspiracy theory has no evidence whatsoever. It doesn’t need evidence, because it serves the interests of the military/security complex, the Democratic Party, the neoconservatives, and permits the presstitutes to show lavish devotion to their masters. By endless repetition a lie becomes truth.
There is a conspiracy, and it is against the American people. Their jobs have been offshored in order to enrich the already rich. They have been forced into debt in a futile effort to maintain their living standards. Their effort to stem their decline by electing a president who spoke for them is being subverted before their eyes by an utterly corrupt media and ruling class.

Thursday, 24 August 2017

This Bubble Ain’t In Stocks, It’s In Mass Hysteria Explains Scott Adams

History is full of examples of Mass Hysteria. They happen fairly often. The cool thing about mass hysteria is that you don’t know when you are in one. But sometimes the people who are not experiencing the mass hysteria can recognize when others are experiencing one, if they know what to look for.

I’ll teach you what to look for.


A mass hysteria happens when the public gets a wrong idea about something that has strong emotional content and it triggers cognitive dissonance that is often supported by confirmation bias. In other words, people spontaneously hallucinate a whole new (and usually crazy-sounding) reality and believe they see plenty of evidence for it. The Salem Witch Trials are the best-known example of mass hysteria. The McMartin Pre-School case and the Tulip Bulb hysteria are others. The dotcom bubble probably qualifies. We might soon learn that the Russian Collusion story was mass hysteria in hindsight. The curious lack of solid evidence for Russian collusion is a red flag. But we’ll see how that plays out.

The most visible Mass Hysteria of the moment involves the idea that the United States intentionally elected a racist President. If that statement just triggered you, it might mean you are in the Mass Hysteria bubble. The cool part is that you can’t fact-check my claim you are hallucinating if you are actually hallucinating. But you can read my description of the signs of mass hysteria and see if you check off the boxes.

If you’re in the mass hysteria, recognizing you have all the symptoms of hysteria won’t help you be aware you are in it. That’s not how hallucinations work. Instead, your hallucination will automatically rewrite itself to expel any new data that conflicts with its illusions.

But if you are not experiencing mass hysteria, you might be totally confused by the actions of the people who are. They appear to be irrational, but in ways that are hard to define. You can’t tell if they are stupid, unscrupulous, ignorant, mentally ill, emotionally unstable or what. It just looks frickin’ crazy.

The reason you can’t easily identify what-the-hell is going on in the country right now is that a powerful mass hysteria is in play.
If you see the signs after I point them out, you’re probably not in the hysteria bubble.

If you read this and do NOT see the signs, it probably means you’re trapped inside the mass hysteria bubble.

Here are some signs of mass hysteria. This is my own take on it, but I welcome you to fact-check it with experts on mass hysteria.
1. The trigger event for cognitive dissonance

On November 8th of 2016, half the country learned that everything they believed to be both true and obvious turned out to be wrong. The people who thought Trump had no chance of winning were under the impression they were smart people who understood their country, and politics, and how things work in general. When Trump won, they learned they were wrong. They were so very wrong that they reflexively (because this is how all brains work) rewrote the scripts they were seeing in their minds until it all made sense again. The wrong-about-everything crowd decided that the only way their world made sense, with their egos intact, is that either the Russians helped Trump win or there are far more racists in the country than they imagined, and he is their king. Those were the seeds of the two mass hysterias we witness today.

Trump supporters experienced no trigger event for cognitive dissonance when Trump won. Their worldview was confirmed by observed events.
2. The Ridiculousness of it

One sign of a good mass hysteria is that it sounds bonkers to anyone who is not experiencing it. Imagine your neighbor telling you he thinks the other neighbor is a witch. Or imagine someone saying the local daycare provider is a satanic temple in disguise. Or imagine someone telling you tulip bulbs are more valuable than gold. Crazy stuff.

Compare that to the idea that our president is a Russian puppet. Or that the country accidentally elected a racist who thinks the KKK and Nazis are “fine people.” Crazy stuff.

If you think those examples don’t sound crazy – regardless of the reality – you are probably inside the mass hysteria bubble.
3. The Confirmation Bias

If you are inside the mass hysteria bubble, you probably interpreted President Trump’s initial statement on Charlottesville – which was politically imperfect to say the least – as proof-positive he is a damned racist.

If you are outside the mass hysteria bubble you might have noticed that President Trump never campaigned to be our moral leader. He presented himself as – in his own words “no angel” – with a set of skills he offered to use in the public’s interest. He was big on law and order, and equal justice under the law. But he never offered moral leadership. Voters elected him with that knowledge. Evidently, Republicans don’t depend on politicians for moral leadership. That’s probably a good call.

When the horror in Charlottesville shocked the country, citizens instinctively looked to their president for moral leadership. The president instead provided a generic law and order statement. Under pressure, he later named specific groups and disavowed the racists. He was clearly uncomfortable being our moral lighthouse. That’s probably why he never described his moral leadership as an asset when running for office. We observe that he has never been shy about any other skill he brings to the job, so it probably isn’t an accident when he avoids mentioning any ambitions for moral leadership. If he wanted us to know he would provide that service, I think he would have mentioned it by now.

If you already believed President Trump is a racist, his weak statement about Charlottesville seems like confirmation. But if you believe he never offered moral leadership, only equal treatment under the law, that’s what you saw instead. And you made up your own mind about the morality.

The tricky part here is that any interpretation of what happened could be confirmation bias. But ask yourself which one of these versions sounds less crazy:
1. A sitting president, who is a branding expert, thought it would be a good idea to go easy on murderous Nazis as a way to improve his popularity.

or…

2. The country elected a racist leader who is winking to the KKK and White Supremacists that they have a free pass to start a race war now.

or…

3. A mentally unstable racist clown with conman skills (mostly just lying) eviscerated the Republican primary field and won the presidency. He keeps doing crazy, impulsive racist stuff. But for some reason, the economy is going well, jobs are looking good, North Korea blinked, ISIS is on the ropes, and the Supreme Court got a qualified judge. It was mostly luck.

or…

4. The guy who didn’t offer to be your moral leader didn’t offer any moral leadership, just law and order, applied equally. His critics cleverly and predictably framed it as being soft on Nazis.

One of those narratives is less crazy-sounding than the others. That doesn’t mean the less-crazy one has to be true. But normal stuff happens far more often than crazy stuff. And critics will frame normal stuff as crazy whenever they get a chance.
4. The Oversized Reaction

It would be hard to overreact to a Nazi murder, or to racists marching in the streets with torches. That stuff demands a strong reaction. But if a Republican agrees with you that Nazis are the worst, and you threaten to punch that Republican for not agreeing with you exactly the right way, that might be an oversized reaction.
5. The Insult without supporting argument

When people have actual reasons for disagreeing with you, they offer those reasons without hesitation. Strangers on social media will cheerfully check your facts, your logic, and your assumptions. But when you start seeing ad hominem attacks that offer no reasons at all, that might be a sign that people in the mass hysteria bubble don’t understand what is wrong with your point of view except that it sounds more sensible than their own.

For the past two days I have been disavowing Nazis on Twitter. The most common response from the people who agree with me is that my comic strip sucks and I am ugly.

The mass hysteria signals I described here are not settled science, or anything like it. This is only my take on the topic, based on personal observation and years of experience with hypnosis and other forms of persuasion.

I present this filter on the situation as the first step in dissolving the mass hysteria. It isn’t enough, but more persuasion is coming.
If you are outside the mass hysteria bubble, you might see what I am doing in this blog as a valuable public service.

If you are inside the mass hysteria bubble, I look like a Nazi collaborator.

How do I look to you?

- Source, Scott Adams via Zero Hedge

Tuesday, 22 August 2017

John Williams Says Impeaching the President WILL TANK THE DOLLAR


John Williams is one of the finest American economists today. Williams calculates alternative statistics on the economy to give a more accurate and reliable analysis than that which is provided by the US government.

Williams recommends gold and silver as hedges against uncertainty and a weakening US dollar. John Williams is always fighting for “Main Street” America, and while his calculations are complex and in-depth, his forecasts for the coming US dollar fiat currency crisis and hyperinflation are not to be taken lightly.

- Source, USA Watchdog