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  #2251  
Old 07-17-2017, 02:22 AM
Danny B Danny B is online now
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Basic income for the rich,,,, until the bond market crashes

“The Treasury Department, for the first time in its history, said it would begin selling bonds for the Federal Reserve in an effort to help the central bank deal with its unprecedented borrowing needs.”

This is extraordinary. Why is the Treasury issuing U.S. government bonds (or debt) to fund the Fed, which is itself supposedly “the lender of last resort” created to fund the banks and the federal government? "
“The Treasury is setting up a temporary financing program at the Fed’s request. The program will auction Treasury bills to raise cash for the Fed’s use."
Who Owns The Federal Reserve? | Global Research - Centre for Research on Globalization

"Kocic calls a "permanent state of exception" from normalcy as a result of the Fed decision to defer the financial crisis indefinitely." " its role is aimed more and more at achieving “social” and not necessarily financial goals." "which has forced the Fed to resort to preserving the social order through the only "monetary channel" under its control: pushing asset prices to ever higher nosebleed levels"
" to be comforted each and every day by the central bank exercising its "power" by perpetuating the "indefinite suspension of traditional market exchange"
QE has become nothing more than "universal basic income for the rich."
" There are two ways to cure inequality: you can make the poor richer, or you can make the rich poorer. The Fed will reduce its balance sheet in the hope of making Wall St poorer."
Deutsche: The Fed Has Created "Universal Basic Income For The Rich" And Now It Can't Get Out | Zero Hedge

"Next, this chart from Bank of America – which itself could be titled Nuff’ Said, in depicting roughly half of all global bond market movements are now attributed to Central banks. A number which, is unquestionably, vastly understated – given how obvious it is that the Fed “monetizes” as many bonds covertly, as it does overtly (in artificially maintaining 1% interest rates, and reinvesting the proceeds of maturing Treasury and mortgage-backed bonds). I mean, who do you think bought the hundreds of billions of Treasuries sold in the past 12-18 months by the Chinese, Russians, and Saudis?"
2.5%-Nuff Said, Part lll-Why Rates Will Never Be ?Allowed? To Rise | SilverSeek.com

"US Federal Spending is rising at a staggering $428,253,120 per day
US Federal TAX Revenue is only rising at $129,857,760 per day.
So the US Government at the federal level is spending about $300,000,000 more per day than it is taking in via TAX revenue."
BUT, the FED claims that it has ended QE.

The FED is owned by private banks. The FED prints endless money to always rescue the private banks. So while it may seem that the FED is always taking "wrong" actions, they are only wrong for the economy, NOT the banks. Ron Paul Warns "Central Bankers Are Always Wrong...Especially Before A Bust" | Zero Hedge

The EU is;

7.2% of the World Population.
23.8% of the World’s GDP.
58% of the World’s Welfare Spending.
The EU average tax burden on workers is 44.9%. The average worker in the EU spends half a year working for the tax man.

Taxation accounts for 41% of the euro area GDP. At the same time, despite massive tax burden and constant confiscation of wealth, the EU’s average debt to GDP is 90%.
On Europe's Unsustainable Welfare State | Zero Hedge
Current account balance;
196 Australia -$33,200,000,000 2016 est.
197 Canada -$51,080,000,000 2016 est.
198 United Kingdom -$114,500,000,000 2016 est.
199 United States -$481,200,000,000 2016 est
https://www.cia.gov/library/publicat.../2187rank.html

"The American people are being brought to ruin by three institutions that are mortal threats to liberty and prosperity. To wit, the Federal Reserve, the military/industrial/surveillance complex and a sinecured Congress "

"Indeed, ever since Ronald Reagan's mild assault on the Welfare State was decisively turned back on Capitol Hill in the spring of 1981, the "guns and butter coalition" has ruled the roost. And that insidious coalition has taken the national debt from $1 trillion to $20 trillion along the way -- even has it has locked in an automatic growth to $30 trillion or 140 percent of GDP by 2027."
"There has been zero net gain in industrial production since September 2007; no net gain in breadwinners jobs since January 2001; and zero gains in real median family incomes since 1989. And that's permanent full employment prosperity?"
"That is, the hundreds of billions of bond purchased by carry trade gamblers, who were given free overnight funding to the tune of 97 percent of their investment, in order to by the very same bonds -- down to the exact CUSIP numbers -- that the Fed had announced it would be buying.

Stated differently, what was the point of QE if it was not to falsify and suppress bond yields in order to goose economic activity -- even if that "stimulus", as it happened, never really left the canyons of Wall Street?

By the same token, why in the world would Yellen expect that the front-runners who fueled the bond bubble during QE will not find is profitable to short-sell what the Fed will be selling once its balance sheet shrinking campaign gets started?" SHORT THE FED !
"the combination of Fed selling and speculators piling on would cause the entire global bond bubble to implode, and all the economic rot that is built upon it to shatter."
http://www.zerohedge.com/news/2017-0...danger-potomac
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  #2252  
Old 07-17-2017, 04:22 AM
Danny B Danny B is online now
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Notes from Armstrong

Armstrong has made it clear. It is always the predations of the State that eventually collapse the economy.
"Michael Andrew, the head of this 1984 style Taskforce to spy on citizens, has proposed that the government should keep track of your $100 and $50 notes by implanting hi-tech nano-chips. He could simply scan your house to see where you are hiding money that the government can confiscate."
"This is simply how government responds every time throughout history. It is all about them paying their own pension at the expense of the citizen. They will always pretend the problem is the rich do not pay their fair share, but in reality, the crisis is the government will simply consume everything until it collapses."
https://www.armstrongeconomics.com/w...ck-every-note/

" It is hard to see how these people can practice restraint when unemployment among the youth is so high because of taxes and regulation prevent small businesses from forming."
The jobs are gone because they left to a low-wage competitor.
https://www.armstrongeconomics.com/w...-in-20-cities/

"With the ECB finally throwing in the towel admitting (but certainly not publicly) that nearly 10 years of low to negative interest rates has utterly failed to reverse the deflation."
Wage and earning deflation brought general deflation. How hard is that to understand? Cheap money can never fix the problems of crashing employment.
https://www.armstrongeconomics.com/i...16-or-125-128/
"Of course, the greatest error with currency is the general public view it as a share price. They assume that the higher the Euro the stronger the economy becomes. Yet historically, the exact opposite is always true because currency is the medium of exchange which sits on the opposite side of the scale with tangible assets. Deflation is when assets decline because the currency rises in purchasing power."
"The rise in the euro and the decline in the dollar is part of the set-up before the Monetary Crisis begins in 2018. You must always swing to the opposite direction of the eventual trend."

(One world GOV), "There is no possible way this is happening without the entire world collapsing and a single government emerges by FORCE."
"However, this idea that everyone will be using the same currency is a pipe-dream with no basis in reality for the amount of political change would require a bloodbath in revolution. It could NEVER unfold willingly with the political system we currently have. Even then, counter-revolutionary forces would emerge."
https://www.armstrongeconomics.com/i...orld-currency/
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  #2253  
Old 07-17-2017, 02:46 PM
Danny B Danny B is online now
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Bad theories, bad results and bad numbers,,, explaining the delusions

Chris Martenson has been writing an anti-establishment blog for many years. He writes that he is getting burned out. Here is part 1of 2 where he writes about bad theories lead to bad models that lead to bad outcomes.
"The main flaw in the neoclassical approach to economics is that it completely ignores, or rather assumes away, any and all trends in debt creation. In this bizarrely incomplete system of thinking, the financial system is considered to be, essentially, a self-correcting zero-sum entity (that balances itself out nicely with a little help now and then).

So such things as carefully tracking GDP increase per new unit of debt, overall indebtedness ratios and understanding that crises are bred from complacency are of no practical concern to a neoclassical economist,"
https://www.peakprosperity.com/blog/...rible-outcomes
In part 2, he lays out some numbers.
" inflation running “dangerously” below 2%, when I know for a fact prices over the last year are higher by 9% for gasoline, 8% for natural gas, 8% for heating oil, 20% for copper, 16% for wheat, 5% for corn, 16% for pork, 11% for beef, at least 10% for health insurance, 4% for college tuition, 3% for autos, 4% for apartment rents (to all-time highs), and 14% for home prices"
"Only an utter moron would believe you really have a 4.4% unemployment rate when 102 million out of 255 million working age Americans aren’t working. For the math challenged, that’s 40% not working, hovering near all-time highs. That number was 35% at the beginning of this century. And it’s not due to Boomers retiring, as the percentage of men 25 to 54 years old not working is at record highs and the percentage of Americans over 55 working has soared. The percentage of teenagers not working is also at record highs."

"In addition, 26 million of the 153 million employed Americans are working part time for low wages and minimal benefits. Almost 10 million Americans declare themselves self-employed (aka selling crap on Ebay, blogging, writing the next great novel). Another 8 million Americans hold multiple jobs. Then we get to the fact 21 million non-producing people are working for the government, getting paid from the tax dollars generated by those working for companies producing something. When it is all said and done, there are approximately 94 million full-time workers in private industry paying taxes to support 102 million non-workers and 21 million government workers."
https://www.theburningplatform.com/2...gh-the-storms/

Work til you DROP, "Several lenders including Halifax, the UK’s biggest mortgage provider, and Nationwide have raised their borrowing age limits to 80 and 85 over the past year."
Britons face lifetime of debt as Bank of England warns over 35 year mortgages
7/16 Global stocks soared $1.5 trillion this week – now 102% of world GDP – Zero Hedge What could go wrong?
7/17 Bitcoin and Ethereum both crashed over the weekend – Yahoo! Somebody dropped the "hot potato".
7/17 Bitcoin, Ethereum plunge accelerates as scaling deadline looms – Zero Hedge Mashed potatoes?

7/17 Connecticut just banned civil forfeiture without a criminal conviction – Forbes A small piece of sanity.
7/16 House backs massive increase in defense spending – Reuters Naturally, we couldn't have a massive increase in infrastructure spending.

7/16 Unwinding QE will be “more disruptive than people think” – Wolf Street7/16 The CBs have bought up 1/2 the bond market and they do NOT want to get stuck holding the bag. They want to sell it off but, they are not likely to find a buyer. They plan to just hold the bonds to maturity. The FED reports that it's portfolio balance is about $ 4.1 trillion. ALL lies because they were buying up everything under the pseudonym of BLICS and "other". They want to cash out.

As if we didn't already have enough problems with the economy, we have huge "people" problems also.
"An influential 2015 report in the Atlantic, titled “The Coddling of the American Mind,” cited evidence that colleges today literally promote pathological thinking:

But vindictive protectiveness teaches students to think in a very different way. It prepares them poorly for professional life, which often demands intellectual engagement with people and ideas one might find uncongenial or wrong. The harm may be more immediate, too. A campus culture devoted to policing speech and punishing speakers is likely to engender patterns of thought that are surprisingly similar to those long identified by cognitive behavioral therapists as causes of depression and anxiety. The new protectiveness may be teaching students to think pathologically."
"All this raises a disturbing question: Does the left even care – at all – about evidence, facts, history, proven principles? Or is everything, including reality itself, subservient to their coveted agenda, however delusional and destructive?"

"However clear, compelling, and heartbreaking the evidence, none of this apparently matters. Fewer and fewer people seem to care anymore about actual causes and effects, about the true nature of things. Instead, too many of us care only about what we want to believe, what we wish to be true."

"In other words, the left is so mesmerized by its utopian ideology and its pet “narratives” (euphemism for delusions) that it simply believes and acts – and aggressively strives to indoctrinate others – in accord with its alternate reality. To hardcore leftists, reason, common sense, the laws of economics and the lessons of history are all inexplicably irrelevant."
Read more at The left’s maniacal war on common sense
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  #2254  
Old 07-18-2017, 03:33 AM
Danny B Danny B is online now
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Showdown between the CBs and the State

Both the left and the right will get a crash course in economics in the coming years. The CBs find themselves printing to support bankrupt GOV. They are talking about unwinding all this stimulus. Taxes paid to GOV are falling at the same time that GOV needs more and more money. U.S. unfunded liabilities are figured at $ 212 trillion. The debt is reckoned at $ 20 trillion but, is actually much higher. In the view of the CBs, there is no possible way that they are going to liquidate their balance sheet and get "paid back".
The CBs would probably like to stop the printing presses but, the State has made no plan or accommodation to slow down the spending.
The financial sector is starting to get a nagging fear that a default cascade would mean that whole cities burned to the ground. The dispossessed have no particular interest in protecting the property of the bankers.

Meanwhile, the State is trying to squeeze out every penny that they can find. The police State grows worse every day.
DHS Outlines Mandatory Biometric ID At Airports For Foreign Travel | Zero Hedge
It will all eventually fail. The State needs actual wealth to pay all it's flunkies.

"The destruction of unsound money will not happen overnight. It will come from the central banks’ response to the next global debt crisis. In such a crisis, the banking system, being geared through the fractional reserve system, will cease to exist without central banks bailing it out with unlimited quantities of raw money."
"Since the official price was raised to $35, the quantity of dollars and dollar credit has increased at a monthly compounding annualised rate of about 5%, until the last financial crisis, when that rate sharply accelerated to 12%, measured by the fiat money quantity."
The Logic of a Modern Gold Standard | Silver Doctors

"There are five times as many dollars floating around, when compared to pre-Lehman days."
GOLDEN JACKASS.COM - The Golden Jackass Knows Gold, Currencies & Bonds"
7/17 Over $7 million stolen after coindash initial coin offering hacked – Zero Hedge
"A 2014 Chinese government study concluded that as much as $6.8 trillion in so-called investments had been wasted from 2009 to that point."
The Ghost Recovery | Alhambra Investments

"What this means is that since the financial crisis, there has been only one buyer of stock: the companies themselves, who have engaged in the greatest debt-funded buyback spree in history."
There Has Been Just One Buyer Of Stocks Since The Financial Crisis | Zero Hedge ALL financed by the FED.
Trying to win in a closed system, http://www.zerohedge.com/news/2017-0...closed-systems

"Think of all the people you know, and how they’ll react. The Reset is dangerous and that’s why ‘the can’ has been kicked for ten years. I’d like to personally thank the FED and other public officers for keeping the System stable for so long. It is popular to criticize such public servants, but as you’ll come to understand, such criticism is, at best, misdirected. Of course they’re responsible for building the biggest Ponzi scam in human history which is on the brink of collapse; but as you’ll see, they had no choice. Capitalism is a Usury driven system of growth which demands that future production is always greater than past production. "

Volume 1: The Bull**** Machine
www.amazon.com

Volume 2: Before the Collapse
www.amazon.com

Volume 3: The Reset
www.amazon.com
https://beforethecollapse.com/2017/05/23/the-reset/

"I now feel that it’s highly likely we will face a major financial crisis, if not later this year, then by the end of 2018 at the latest. Just a few months ago, I thought we could avoid a crisis and muddle through"
"Homelessness has been growing so rapidly in Los Angeles that the the L.A. City Council actually asked Governor Jerry Brown to formally declare a state of emergency."
http://theeconomiccollapseblog.com/a...eyland-economy
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  #2255  
Old 07-18-2017, 02:45 PM
Danny B Danny B is online now
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Decashing,,

The government and banks are hard at work to eliminate cash. You will have whatever wealth they say you have.
https://dailyreckoning.com/third-front-war-cash/
The general public is not happy with the idea, 95% Of Europeans Reject EU Efforts To "De-Cash" Their Lives | Zero Hedge
The State is slowly sinking under a sea of red ink. In the collapse, they will grab everything within sight. When the banks collapse, your bank account (an uninsured loan to the bank) will be converted to equity in the bank.
7/18 Corrupt governments tend to declare bitcoin illegal – Coin Telegraph

7/18 The euro is about to rocket higher thanks to Germany – SCMP As Armstrong explained, a currency is not a share price. The higher a currency goes, the worse it is for the State.
7/18 Hive readies ‘subsidy free’ solar farm for summer 2018 build – Solar Power Portal Wait a minute ! What about my uranium investments?
7/18 Prime Minister claims laws of mathematics ‘do not apply’ in Australia – Independent He's been drinking too much grog.
7/18 Rydex trader bullishness surpasses 2000 tech bubble – Financial Sense Nothing but blue skies.

7/18 Empire Fed report: little resemblance to reality – Mish We don't need no stinkin reality.

(Kondratieff) "The problem with his data was that it properly reflected the beginning of his study. But as the Industrial Revolution took place, agriculture, which was 70% of the economy in 1850, fell to 40% by 1900 and eventually to 3% by 1980. His model failed because there was a cycle to the economy as well which he did not take into account. We moved from a commodity based system, to industrial, and then to primarily service industry. As we move further down this road, we can see that economic growth has declined, for government has grown too big and is now consuming 40% of GDP compared to less than 10% at the beginning of his work. Government reduces GDP it produces nothing. "
https://www.armstrongeconomics.com/a...dratieff-wave/

The Central banks are on a collision course with the State GOV. We can't automate everything and still operate on debt-money. Especially with a falling population and falling supplies of cheap energy (America and GB).
The world is NOT going to muddle through. There are just too many powerful people who want to see a drastic population reduction.
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  #2256  
Old 07-19-2017, 03:55 AM
Danny B Danny B is online now
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Fraudulent currency creation means that all markets are fraudulent

According to Murray Rothbard in Making Economic Sense,

Many free – market advocates wonder: why is it that I am champion of free markets, privatization, and deregulation everywhere else, but not in the banking system? The answer should now be clear: Banking is not a legitimate industry, providing legitimate service, so long as it continues to be a system of fractional-reserve banking: that is, the fraudulent making of contracts that it is impossible to honor."
"The introduction of financial de-regulations and the dismantling of the Glass – Steagall Act changed all that."
Why Wage Growth Is So Weak | Zero Hedge

"Citizens Claim Right to Create Scriptural Euros.
Citizens conjure Euros out of thin air, just like banks."
Bank Of Italy Warns Citizens Against "Creating Your Own Currency" | Zero Hedge

Bernanke claimed that he could have avoided the Great Depression One by dumping in more money. What an IDIOT.
http://www.acting-man.com/blog/media...nk-cartoon.jpg
"The Fed increased its balance sheet eightfold. The world – suckered by lower borrowing rates – added another $80 trillion of new debt. Mr. Bernanke, with conceit bordering on insanity, lauded this act of bumbling vandalism in his book, calling it The Courage to Act."
Welcome To The Valium Era | Zero Hedge

"The decade following 1969 was one of multiple global disruptions in the political, social, energy, geopolitical, currency and economic spheres. The difference now is that the buffers that existed in 1969 are now paper-thin, and so the potential downside of disruption and instability is much, much greater."
oftwominds-Charles Hugh Smith: Why 2017 Is Like 1969
Things like "Second Life" can be quite engaging. Evidently more men are drawn to this than women.
http://www.zerohedge.com/news/2017-0...ble-real-world

"As for the ECB's other notable "achievement" according to the latest update, the ECB's balance sheet now stands at €4.23 trillion, making it the largest central bank holding in the World. As Deutsche Bank notes, this is the same as the GDP of Japan (€4.3 trillion) - the 3rd biggest economy in the world" And, it hasn't fixed a thing.
http://www.zerohedge.com/news/2017-0...ize-japans-gdp

"What we’re witnessing is the demise of the American political system, in real time. We just don’t know it. Actually, we’re witnessing the downfall of the entire western system. "
"In 1968 Americans paid 7% of their disposable income for a house. Today that’s 23%. "
https://www.theautomaticearth.com/20...-today-oh-boy/

"Propelled by neoliberal economic thinking and fossil fuels, techno-industrial society consumed more energy and resources during the most recent doubling (the past 35 years or so) than in all previous history. "
"Like a mind-altering drug, the compound myth of perpetual growth and continuous technological progress obscures reality. Economists thicken the fog by insisting that the economy is “decoupling” from nature "
"Our growth-based, winner-takes-all economy has become egregiously unjust as well as ecologically precarious. Perversely, the world community prescribes still greater material growth as the only feasible solution! "
https://thetyee.ca/Opinion/2017/07/1...obal-Collapse/

New Study Finds US Healthcare System Ranks
Dead Last Compared To Other Developed Nations
Yes but, we have lots of weapons of war.
75% Of UK Grads Will Never Repay Student Loans
Israel To Build Proposed Artificial Island Off Gaza
Chinese Have Already Offered To Help Construct It - Vid

Right over big gas and oil deposits.
“Shock Rise in China’s Shadow Banking Enrages Xi Jinping”. (Apparently the size of off-balance sheet lending is about double what the party thought it was – its apparently over 110% of on-balance sheet bank lending (where bank assets are some $39 trillion!)"
http://www.zerohedge.com/news/2017-0...-drunken-uncle
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  #2257  
Old 07-20-2017, 02:11 AM
Danny B Danny B is online now
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Hussman,, Pox Americana,,, headlines

A very notorious Spanish banker who ripped off thousands and skated, has come to a sudden end. It was ruled as not homicide.
Notorious Spanish Banker Found Dead With Shotgun Blast To The Chest | Zero Hedge

John P. Hussman, has tried and tried to wake people up to the true state of the markets.
"valuations at current levels are associated with expected returns of about -2.5% annually on a 10-year horizon, and roughly zero on a 12-year horizon. Nearly every market cycle in history has brought these valuation measures back toward their historical norms, "
"The pendulum of speculation has swung far and has grown increasingly grotesque in order to reach this point. It will be a wrecking ball when it returns to earth."
"Speaking of margin debt, Doug Short recently provided this look at investor credit balances and the equity market. The bars (green when positive, red when negative) show the sum of: cash balances in investor cash accounts, plus cash balances in margin accounts, minus the margin debt of investors. To say that investors are “all in” would be an understatement here. They’re leveraged to the gills."
https://www.hussmanfunds.com/wmc/wmc170717b.png

The graph shows this very clearly. But, what about reports that the only buyers for stocks are the companies themselves doing repurchase?
The SNB, BOJ, FED and PBOC ALL report directly buying assets. No idea where the discrepancies come from.
https://www.hussmanfunds.com/wmc/wmc170717.htm
"In any event, the estimate that best fits recent market dynamics would place the critical point in the first week of August, within less than 2% of current levels. Indeed, the 30-day crash probability that we estimate from this particular model is rising vertically, and will continue to do so with every market advance from this point. "
"For my own readers, I’ve offered a great deal of historical evidence, a record of effectiveness in prior complete market cycles"

Since academia, ET AL are operating with flawed models, the mouthpiece of accepted wisdom, The Economist can be expected to give flawed projections. Once in a while they are right.
“The consequence of a very strong dollar is America’s trade deficit will get much much larger.” "The Economist seems to think a falling dollar will help exports. I happen to have a picture showing the results."

Magazine covers tend to coincide with extreme sentiment. The Economist is particularly good at offering contrarian articles.

In December of 2016, The Economist nailed the peak in the US dollar with its “Mighty Dollar” issue.

Let’s now investigate other contrarian covers.
Economist – March 6, 1999 – Drowning in Oil
drowing-in-oil
The economist predicted $5 oil.
Newsweek – April 10, 2009 – Cheap Oil Forever"
"Growing evidence suggests American consumers, businesspeople, and political leaders should all be bracing for double-digit inflation, probably as early as 2009."
Mish goes on to show other blunders by the economic media.
https://mishtalk.com/2017/07/19/migh...nails-the-top/

The State is going broke.They have their collective eye on your cash. Bitcoin included.
https://www.nestmann.com/civil-forfe...b474ff35a3ee64

This is an excellent article on the prospects of Pox Americana trying to maintain control of the world. It's authored by all the top warmongers.
"On the contrary, the Pentagon study’s recommendations call for an intensification of the very imperial policies that futurist Professor Johan Galtung, who accurately forecasted the demise of the USSR, predicts will accelerate the “collapse of the US empire” by around 2020."
https://renegadeinc.com/pentagon-stu...is-collapsing/

7/19 5 charts that prove that the US economy is weakening fast – Gold Republic
7/19 The U.S. stock market is the world’s most expensive – MarketWatch

7/19 IBM stock drops after 21st consecutive revenue decline – CNBC Even the FED can't do unlimited levitation.
7/19 Wall Street’s ‘dean of valuation’ says digital currencies are replacing gold – CNBC
7/19 Ethereum co-founder says crypto coin market is a time-bomb – Bloomberg

7/19 Census snapshot: One million homes left empty across Australia – SMH One million blokes have to live in the pub.

7/19 Coal and nuclear are uneconomic – Think Progress Hopefully, this news will filter down fast to investors.
7/17 Donald Trump approval rating at 70-year low as Russia scandal swirls – Guardian
Globalist Point Man, Paul Rat Ryan, Is Now Less Popular Than President Trump
Hillary Clinton is Less Popular Than President Trump: Poll | Time.com

Senior Member Of Congress - 'Trump Will Be Taken
Out Suddenly And We Can't Stop It'
What does Las Vegas say?

Iran To America: Stop Worrying About Us
Your Government Is About To Collapse

25% Of US Jobs At Risk Of Being Off-shored Under Trump Naturally, it's Trump's fault.
Saudis Mull Cutting Oil Exports By One Million BPD Their wells AND their budget are in BAD shape.
Chicago Lays Off Prosecutors As Bodies Pile Up They laid off 1,000 sheriffs. They need Duterte to straighten things out.

Two Critical After IED Detonates At Canada 7-Eleven
It is undoubtedly those damn Quebecois separatists who are responsible for this.
Rand Paul - GOP Bill Creates Giant Ins Bailout Superfund Ah yes, ZIRP has killed all the funds.
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  #2258  
Old 07-20-2017, 03:18 PM
Danny B Danny B is online now
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Busy calendar

Trump is calling for a shutdown of GOV in September.
" the critical point in the first week of August"
October 15, 2017, https://www.youtube.com/watch?v=IbXKWrHSSsg
Mike Maloney - Why Crash is due August 17, 2017

RED ALERT: The Dollar Will Collapse 100% on AUGUST 2017! Ron Paul Last Warning To America
https://www.youtube.com/watch?v=0aL9paGzvZY
We also have a crash on labor Day. Valentines day is supposed to be the big crash. California Munis and the eurozone are supposed to crash in the Spring of 2018
“collapse of the US empire” by around 2020."
Armstrong calls for a continuous fall until 2032.

"Catherine Austin Fitts – We Need Our $40 Trillion In Stolen Cash Back "
https://www.youtube.com/watch?v=qgI914jTzBA

The crash started a long time ago.
It started when Benjamin Strong (FED head) started illegally selling U.S. Treasury bonds on the secondary market in 1920.
It started when the FED took it upon itself to rescue anything and everything.
It started when various socialist programs from GOV went into deficit spending.

It started when the R.O.W. rebuilt their manufacturing capacity by about the mid '60s.
It started with the inception of the welfare-warfare State.
It started when politicians needed ever-larger budgets to get elected.
It started when the Bretton-Woods agreement gave us an unlimited credit card,,, to pursue either war or peace.

It started with the departure from the gold standard.
It started when academia was held in thrall to State salaries.
It started with the petro-dollar.

" Banking is not a legitimate industry, providing legitimate service, so long as it continues to be a system of fractional-reserve banking: that is, the fraudulent making of contracts that it is impossible to honor." Rothbard.
An illegitimate business, run by corrupt people, having control of most of our wealth.... using our money to effect regulatory capture and continuance of debt-slavery.
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Old 07-21-2017, 03:11 PM
Danny B Danny B is online now
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Wall st. battles D.C. to keep the money flowing

"This year the federal government will spend more than 4 trillion dollars, and that represents well over one-fifth of our national GDP. "
"they found that five out of the top 10 wealthiest counties in the entire country are suburbs of Washington D.C.…"
"I once wrote an article that listed 97 different ways that various levels of government get money out of us each year, and so getting rid of the federal income tax would still leave 96 ways for the politicians to extract money from us."
Washington D.C. Is Essentially Just A Gigantic Money Machine

OK, it's real simple. The swamp wants to keep the money flowing. David Stockman has an excellent article on how this money flows. Armstrong writes that Treasury debt will crash. His models are "confidence" models. I'll excerpt the Stockman article but, you should read the whole thing. Keep "confidence" in the back of your mind while reading.

"The stand by Senators Lee and Moran was much bigger than putting the latest iteration of McConnell-Care out of its misery. The move rang the bell loud and clear that the Imperial City has become fiscally ungovernable"
"the founders wanted a national government that was hobbled by levels of hurdles and vetoes."
"So when Woodrow Wilson embarked the nation on the route of Empire in April 1917 and FDR launched the domestic interventionism of the New Deal in March 1933, the die was cast. It was only a matter of time before the disconnect between a robust Big Government and the structural infirmities of Madison’s republican contraption resulted in a deadly impasse."
"The Fed has now backed itself into a corner and is out of dry powder. "
"First up is the imminent debt ceiling crisis. Republicans will never reach agreement on a bill to raise the debt ceiling by at least the $2 trillion that would be needed to get through November 2018. That’s because the Freedom Caucus conservatives would never agree to a clean debt ceiling bill. "

"Meadows said that he recently attended a meeting of eight of the most conservative Senate and House lawmakers about how to handle the debt ceiling and that not once did they consider the idea of backing Mnuchin’s proposal for a clean debt-ceiling increase."
"Even if Trump were to agree to a quid pro quo with Democrats to get votes for a debt ceiling increase, it would soon be surpassed by a far bigger consequence. It would be the complete implosion of any functioning Republican majorities on Capitol Hill."
"As far as we can tell, both Secretary Mnuchin and chief economic advisor Gary Cohn (and son-in-law Jared Kushner) are lifelong Democrats. They are individuals who have no fiscal policy principles whatsoever — except doing whatever is necessary to keep the stock market rising."

"They would likely lead the Donald into a fatal debt deal with the Dems based on the doctrine that the “credit” of the U.S. must be preserved at all hazards. "
"The more likely case, however, is that the Treasury’s cash — which now stands at $168 billion — will run-out before they get to a stop-gap debt ceiling increase. That would cause the Treasury to unleash the nuclear tool of spending prioritization and allocation of incoming revenues to the highest uses (debt service, social security payments and military payroll)."

"One former Treasury official, speaking on the condition of anonymity to discuss sensitive agency deliberations, said officials are now “brushing up on options in the ‘crazy drawer."
"Treasury officials have designed plans to prioritize payments to government bondholders so that if the government runs short on cash it could avoid defaulting on U.S. debt.

Such a scenario would be very difficult to manage because some bills would either be delayed or not paid — making it necessary to prevent an actual default. " Remember confidence.
"If there’s any lesson from the 2008 crisis, it’s that entitled elites and robo-machines on Wall Street do not cater to a Congress that’s not doing their bidding. That became clear when the stock market dropped by upwards of 800 Dow points during the fifteen minute interval when the first TARP vote was being tallied (and voted down)."

"The non-compliance with Wall Street demands for protecting the credit of the U.S. at all costs and the sight of political disarray in Washington will come as a shock."
"Last year’s collections during the back 78 days of the fiscal year amounted to $7.6 billion per calendar day."
"Washington has now spent $2.6 trillion through the end of May, or about $11 billion per calendar day. So call the cash burn rate $3 billion per day,"
"The first round of prioritization and allocation will only be the precursor. It will come when Senator Schumer stands with a hapless Donald Trump in the Rose Garden announcing that the debt ceiling will be increased enough to get through the November 2018 election."
"At that point there will be no dip to buy. The political and fiscal crisis will become a permanent disaster in the Imperial City and the dip on Wall Street will become an extended cavern."
https://dailyreckoning.com/imperial-...scal-waterloo/

What this means is; Wall street will fight the GOV to get what they want. There is no money left and they will not get what they want. Their reaction will crash the markets. When / if FED GOV fails to uphold the bond market, confidence will be lost. Wall street will tie Trump and congress in knots,,,, and hasten their downfall.
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Old 07-22-2017, 03:18 AM
Danny B Danny B is online now
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Coming divorce,,,Furious noise, little motion

Stockman talks about Wall street completely tying Trump up in knots.
"spending prioritization and allocation of incoming revenues to the highest uses (debt service, social security payments and military payroll)."
Can you imagine what would happen if Trump stopped all payments to the corporate pork barrel?
The District of Corruption is like a huge hornets nest,,, with a plug in the exit hole. FURIOUS buzzing and running around but, nothing getting done.
The buzzing will get much louder as we get closer to the debt ceiling.

Bill Gross is the "bond king". " Raising interest rates will increase the cost of short-term debt that corporations and individuals hold.

In the U.S. alone, households have $14.9 trillion in debt while businesses owe $13.7 trillion, according to the Federal Reserve.
"While governments and the U.S. Treasury can afford the additional expense, levered corporations and individuals in many cases cannot," Gross said."
He is worried about bonds. Not a single mention of all the damage done to millions of savers and investors by ZIRP and NIRP. Just bonds.
Everyone is looking to protect their own little bit of turf
Bill Gross worried that central banks will lead world into recession

The corporate leaders took all the free money from the FED and used it to buy back stock. This raised their bonuses a huge amount. They could have used that money to fund their in-house pensions but, they preferred to grab the money for themselves.
Here Are America's Most Underfunded Corporate Pensions | Zero Hedge
The U.S. imports more oil from Venezuela than from Saudi. The bankers are afraid that Venezuela will default. They threaten to stop importing Venezuelan oil.
U.S. May Halt Oil Imports From Venezuela | Zero Hedge
I'm sure that a blockade will fix everything. Venezuela is almost out of cash. The bankers just aren't going to win. Venezuela will lose no matter what.

The good news is; America is not headed for civil war. The bad news; we're headed fro divorce.
Liberal-Conservative Divide -- Americans Self-Segregate Culturally | National Review
Fiscal health of the States; Florida to New Jersey, https://www.mercatus.org/statefiscalrankings
Armstrong, "ANSWER: Unfortunately, the problem we have with government is historic and of epic proportions. They always abuse their power of taxation and consequently, governments always fall by their own hand. They will never reform and constantly raise taxes because they are incapable of restraint. It is just the way everything functions throughout history. There is NOTHING we can do. "
https://www.armstrongeconomics.com/w...stay-the-same/

7/21 China’s central bank pumps in most funds since January – Bloomberg
7/21 China’s deleveraging campaign takes on toughest target yet – Bloomberg
Yeah right, deleveraging.
7/21 USPS financially imploding as new political scandal emerges – Fox Businesss It will get worse.
7/21 Bitcoin bubble dwarfs tulip mania from 400 years ago – CNBC
7/21 Money supply growth falls again, dropping to 105-month low – Mises Institute The FED is taking away the punch bowl. The drunks are pissed (off).

7/21 What’s worse than thieves? Thieving police – Bloomberg NO mention of thieving politicians.
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Old 07-23-2017, 07:27 PM
Danny B Danny B is online now
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P/E normalization

The stock market may not matter very much to you but, it matters a lot to confidence. That is why "they" pump it up.
“When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing,”
"Traders today are just dancing – blindly. That’s why the Russell 2000 hit 1442 the other day, capitalizing the earnings of small and mid-cap domestic companies at 87.5 times." (P/E)
" valued added output of the U.S. business sector, the main street economy – where most of these companies live — has expanded at a tepid 2.1% annual rate since 2002. By contrast, the RUT index has increased by 10% per annum since then."

The degree to which the casino’s speculative mania has been concentrated in the FAANGs + M can also be seen by contrasting them with the other 494 stocks in the S&P 500. The market cap of the index as a whole rose from $17.7 trillion in January 2015 to $21.2 trillion at present, meaning that the FAANGs + M account for 40% of the entire gain!
"At the March 2000 peak, Microsoft’s PE multiple was 60 times, Intel’s was 50 times and Cisco’s hit 200 times. Those nosebleed valuations were really not much different than Facebook today at 40, Amazon at 190 and Netflix at 217 times PE."
"The reason is PE normalization. In this case, the company’s hideously inflated 200 times PE multiple imploded with the tech crash. It now stands at 15 times PE."
"Amazon embodies the speculative mania of the current market. It is simply ludicrous to put a multiple of 190 times PE on a company that runs a profitless $130 billion e-Commerce sales juggernaut."
"Only the daredevils and Wall Street dancing machines would dare buy the S&P 500 at 25 times PE, the Russell 2000 at 88 times PE, Amazon at 190 times PE."

The CBs are buying stocks hand-over-fist because they don't care about the P/E. They hope to hold the line on stock valuations even though there are no earnings.

"The chart below shows how the combined balance sheets of the major world central banks (Fed, ECB & BOJ) are 3.5x higher today than their pre-crisis levels less than a decade ago. (And if we included the PBOC in this chart, the cumulative total would be 18.8 Trillion!): "
"(in fact, the S&P price/revenue ratio just hit the highest level in history,"
"To support the current level of asset prices, we have been growing our debts more than twice as fast as our national income (GDP)." Don't stop dancing.
"We discuss this in depth in our recent report Less Than Zero: How The Fed Killed Saving, which explains how the Financial Repression playbook is very intentionally designed to transfer the burden of the government's orgy of debt onto the public."
Hussman, "The problem with bubbles is that they force one to decide whether to look like an idiot before the peak, or an idiot after the peak. "
https://www.peakprosperity.com/blog/...t-do-your-cash

The swamp sucks in a LOT of blood, Pentagon Looses Track of $6.5 Trillion Embezzled ?Unaccounted Funds? at Expense of US Tax Payers | Global Research - Centre for Research on Globalization
So, the global credit markets desperately need a continual infusion of new credit. Recently, most of the new credit has come from China.
"After all, who will be on the other side of the trade when all this unwinds? Who will buy when The Crowd moves to hedge/short bursting Bubbles? This is a huge problem. Everything will go NO-BID.
" President Xi Jinping has made clear that local government authorities and China’s behemoth state-owned enterprises too must restrain borrowing."
"It’s helpful to remind ourselves that the Chinese have limited experience with runaway Credit Bubbles." " They’ve never had small banks borrow Trillions in the inter-bank lending market. "
“Policy makers will likely seize this rare opportunity to reduce leverage in the economy in a deeper, longer and more thorough campaign.”
"China is on course for $3.5 TN of Credit growth this year – with a trajectory that is as precarious as it is unsustainable. "
Credit Bubble Bulletin : Weekly Commentary: New Age Mandate

It seems that malware attacks are becoming a serious threat. They have the potential to bring a crash by themselves.
https://www.mediapost.com/publicatio...s-tech-su.html
https://www.wired.com/story/state-de...CNDID=38901740
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Old 07-24-2017, 03:14 AM
Danny B Danny B is online now
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Depopulation,,, scum imports,,, the end of the nation-state

"I'm describing what has already happened that is continuing to send progressively larger tsunamis swamping the world economy and has the central bankers doing everything and anything to try to sustain the unsustainable."
"the next business cycle recession will be unending and is very likely to run years into decades and perhaps a century or more. A declining population already indebted with record debt and zero interest rates will consume less"
"The depopulation we are now facing is not simply a demographic issue that so many believe; the end of growth is the start of the SHTF scenario in which we now find ourselves. "
"The numbers of immigrants needed to prevent the decline of the total population are considerably larger than those envisioned by the United Nations projections."
"The problem with this cunning plan to immigrant-ize western nations to backfill the domestic demographic decline is that the immigrants - as a whole - are a drag on growth (via politically-correct benefits, extra policing, and border enforcements) "
UN Document From 2000 Exposes Global "Migration Replacement" Solution To Developed World Demographics | Zero Hedge
Bringing in the scum of the earth will NEVER add to economic security.

"The structure was a familiar one. Tried and tested. The state provides security (military) to ensure stability and enforcement of legal contracts. And while this cost a lot of money, in return the vassal states pay taxes to the empire.

As long as the taxes exceeded the costs of keeping the restless natives in check things were golden. As we know this math didn't last forever for any of the empires, including the Brits, who (under increasing costs and decreasing revenues) lost their shiny empire, put away their flags, trudged back to the pub to talk about the weather, and became plumbers."
"Just as each empire has finally succumbed to the gravity of unprofitable ventures, today we have much of the developed world labouring under similar problems.

Europe, the poster child for socialism, has a structure whereby member states in the EU contribute to a centralised bureaucracy and receive a number of benefits in return. The problem is the math doesn't work."
"Today, the costs and losses of the empire (I'm using the term loosely here to include the nation states of the world but in particular the US and EU) are socialised. Like an insurance policy, the costs are distributed across society. The rewards are, however, privatised. They don't accrue to the state... and this is very different from how the Romans or Genghis Khan ran things.

Lobby groups and big business push for policies and privileges that will benefit their chosen industry and/or business.

In turn, the state tilts the playing field in their favour. This comes at a cost, and that cost is a cost to the state, not the industry being favoured."
"This is a problem not just for the US and Europe. It's a problem for the nation state structure, which is more buggered than an alter boy in the Vatican.

This is because the centralised structure of not only running a country but doing business at every level is being destroyed."
"While it's easy enough to see that the empire won't last... what replaces it will, I believe, look distinctly different to yet another centralised nation state."
How Will The Empire End? | Zero Hedge
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Old 07-24-2017, 03:17 PM
Danny B Danny B is online now
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Chinese detonator,,,academia without frontal lobes,,,wrong fork

Everyone is aware that politics affects economics. I have to write about politics because the dysfunction is rapidly increasing. This article is almost entirely BS. BUT, it talks about the staggering debt in the Chinese banking system. IF the U.S. GOV should make the wrong move in the South China Seas OR the Formosa Strait (Taiwan), the Chinese will promptly pull the rug out from under the Chinese shadow banking system. This would/will have the same effect as dropping a M-80 in your goldfish bowl.
Three Black Swans

Academia has skated along for years claiming that economics is a science. It isn't. They have all kinds of wonderful models and wonderful charts. They IGNORE debt/credit levels for their models. That isn't all that they ignore.
“Wait, that’s not even part of your model?” asked the private sector, imagining itself in the presence of the Fed.

“You seriously don’t even consider the crushing weight of the pension avalanche that is bearing down on us?” And the governors shrugged.
“You don’t even take into consideration what’s happening in China?” Silence. “Do you even understand today’s world? You’re all so old, you’re from a different time.” They returned to their spreadsheets, moving dots around, what fun.
“Pensions and China are the only two things that matter!” Silence.
“Let me get this straight,” said the private sector, collecting its composure. “You’ve got this thing called China, and you don’t understand that?” The governors nodded.
“And you’ve got this other thing which is my pension liability, and you’re not modelling that?” Each nodded.
“And I’m supposed to have confidence in Fed policies?” asked the private sector. The governors put down their crayons, lifted their dot plots, displaying them proudly."
One Hedge Fund CIO Is Shocked To Learn The Fed's Model Ignores "The Only Two Things That Matter" | Zero Hedge

It is all too tempting to ignore financial problems around the world. It is oh-so difficult to factor in capital flows around the world. SO, most fund managers just ignore them.

“The same is true of credit default cycles.” Our economic system is highly integrated. One man’s liability is another’s asset. One CFO’s payable is another’s receivable. It’s a global Ponzi scheme that works wonderfully until it doesn’t."

7/24 Billionaire investor says stock market valuation is “terrifying” – Dollar Vigilante
7/24 Venezuela will be first sovereign oil producer to see an “all-out collapse” – Zero Hedge
Nobody wants to use the "D" word.
DEATH
7/24 Congress reaches deal on Russia sanctions, leaves Trump out of loop – NewsWeek Leaving Trump out of the loop is going to be increasingly destructive. Here is Kunstler to tell you all about it. Kunstler is nominally a Democrat. He hated Trump. Now, he mourns him.
Meow - Kunstler
"Too many nasty forces are vectoring in on the scene to overthrow the dream state America has been languishing in. Most of them involve money (or “money”) and the questions of how can we possibly keep paying for the way we live in this country, and who exactly has been fobbing off with the former wealth of every rusted and busted community in the land? It’s going to start in the stock and bond markets and it will be soon. And then the US Treasury will destroy the dollar trying (again) to save the banks. And the bank accounts will be frozen. And the loans will stop being paid. And the SNAP cards are going to stop working, and pretty soon the just-in-time deliveries to the supermarkets, and the resupply to the gas stations, and there won’t be much that Mike Pence can do about it. He’ll be shoved aside and the military will have to try to restore order in the land."

Power corrupts and attracts the already-corrupted. Our great power, post WW II attracted the worst of the parasites,,, the most corrupted and insane. Our unlimited Bretton Woods credit card could have been used to pull the world forward in quality of life. Instead, it was used to build a belligerent empire,,, rather than a trading empire. The war profiteers took control,,, just like Eisenhower predicted.
That sealed the fate of both America and the rest of the world. We would have continuous wars, both hot and cold. Whatever it took to keep the war industries rich and happy.
https://theintercept.com/2017/07/22/...erican-empire/
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Old 07-25-2017, 04:29 AM
Danny B Danny B is online now
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Stop the printing,,, let the shorts run wild

Everybody and their dog are trying to time the markets,,,, and short them just before the crash. The CBs have been printing to crush the shorts. The CBs are talking about taking the punch bowl away. The shorts are getting bolder.
A Mystery Investor Just Made A $262 Million Bet That The Stock Market Will Crash By October | Zero Hedge
If the CB doesn't provide the liquidity to hold back the shorts, nobody will.
7/24 Federal Reserve now faces prospect of global monetary policy tightening – Reuters

"In March, economics professor Alberto Bagnai called for a controlled end to the euro, arguing, "No matter how much political capital is invested in it, the euro will fall."

"The most likely cause will be a collapse of the Italian banking system, which will take the German one with it. It is in the interest of any political power, certainly of the declining European leaders, and probably also of the US, to manage this event rather than passively await it,"
https://sputniknews.com/europe/20170...exit-collapse/
There is no saving the Euro but, Brussels will never admit to failure. Armstrong presented a plan to save the Eurozone at his WEC conference last week. He admitted that Brussels will not follow it.
https://www.armstrongeconomics.com/a...ro-conference/

The Goldbugs are good at pointing out problems.
"There is virtually no fear in the stock market so investors see no reason why this favorable climate would not continue for another 8 years at least.
Yes, of course it could. All that is needed is that governments worldwide print another $20-50 trillion at least and that global debt goes up by another $200-500 trillion…"
"As we experienced in 2006-9, profits are for the bankers and losses for governments and customers."
Greyerz – We Are Now In The Frightening Endgame | King World News

Government is INFESTED with simple-minded academicians who have a whole cupboard full of pet theories... all worthless. China is only using people with practical knowledge to guide their central bank.
https://www.armstrongeconomics.com/i...nk-altogether/

7/24 New solar tech produces 50% more energy than silicon cells – Financial Sense
7/24 China connects 13.5GW of solar PV – in a single month – Renew Economy
What about my oil wells?
7/24 Britain’s economy is almost flatlining – Bloomberg
Bring in more Pakis. That will fix everything.
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Old 07-26-2017, 12:57 AM
Danny B Danny B is online now
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The blockchain will rise up out of a sea of banker blood

The world-improvers wanted a one-world currency and a one-world GOV. Pox Americana was going to be the BIG DOG. The SDR was going to be the reserve currency. All trade barriers would disappear. The corporatocracy would erase all unions and benefits. The inherent flaws to this plan are painfully obvious. Globalization has benefited just 6 countries. Just the Eurozone fiasco by itself has destroyed a dozen countries and benefited just ONE. France and Italy will be belly-up soon enough.
The corporatocracy believed that killing democracy in Europe would fix everything. All the pet theories from Academia were worse than useless.

What to do next? As wage levels fall in high-wage economies, there is less and less economic activity. BUT, a debt currency needs a rising currency /credit supply. The CBs are supplying the difference and screaming their mantra that we MUST have 2% inflation. Wages are falling. Population is falling. Money velocity is falling. The CBs are there only for the benefit of the banks.
The world will get a credit collapse and a big reset. Reportedly, the CBs are working to position themselves to come out on top after the crash.
"The world’s central banks are all stuck in their own – self-created – bubbles and narratives. They all talk about how they solved all the issues, and how they will now return to normal, but the sad truth is they can’t and they know it."
"And that means we have arrived at a point that is new and very dangerous for the entire global economy and all of its people.
That is, the world’s central bankers now have an incentive to create the next crisis. This is because they know this crisis is inevitable, and they know their masters and protégés, the banks, risk suffering immensely or even going under."
"Since the money supply is one of the key components of inflation, along with velocity of money, there will be fantastic outbursts of debt deflation. You’ve never seen -let alone imagined- anything like it."

"We already knew this, a few of us. That the world’s main central bankers have an active incentive to bring about the crisis, if only by sitting on their hands long enough, is new. But they do."
https://www.theautomaticearth.com/20...re-the-crisis/

"Under the guise of increasing transparency and efficiency, they’ve partnered with governments around the world to help convert financial systems into cashless models, but their real incentive is the billions of dollars in extra transaction fees it would generate."
"This ongoing push for a cashless society in Europe, Asia, and the Americas is about much more than just phasing out paper money — it’s about central planners solidifying control over the public’s wealth. This ongoing merger of corporate and government interests is the definition of crony capitalism. "
OK, so the banks want everything cashless to generate more and more fees. The State wants everything cashless to control all wealth. It doesn't look like it is going to work out this way.

"Bitcoin and smart contract platforms have introduced an entirely new marketplace for businesses and individuals outside the dominion of the old financial vanguard. Dozens of large corporations have founded the Enterprise Ethereum Alliance to build support for other developing alternative blockchain technologies aside from Bitcoin. This ongoing evolution towards peer-to-peer payments will eventually doom companies like Visa to the same fate as Blockbuster. Those in power may champion the benefits of going cashless, but going bankless may be the only way out of this extortion matrix."

"The efforts by governments and the financial industry to eliminate cash are only going to intensify. Those who adapt to the new paradigm of peer-to-peer payments will thrive"
Banks Are Scheming To Dominate A Future Cashless Society | Zero Hedge
OK, what direction is this all moving? Cryptocurrencies seem to have endless problems.
Cryptocurrencies Are Crashing Again | Zero Hedge
Initial coin offerings look like they are going to get whacked, SEC Cracks Down On "Initial Coin Offerings": Concludes Tokens Are Subject To Securities Laws | Zero Hedge

So, we see the banks trying to maintain a stranglehold on all money transfers. It just isn't going to happen. The banks are going to fade away,,, for the most part. The world of commerce is sick and tired of being continuously robbed by the finance (extortion) industry.
Their savior will be the blockchain.

"Traditionally, corporations have relied on intermediaries like clearinghouses, custodians, exchanges, fiduciaries, or banks to settle transactions. Each intermediary had to verify transactions with their own ledgers, which adds time and cost to each transaction.

With the blockchain, a ledger is shared among a large group of peers who collectively record all transactions digitally and validate transactions without the need for a third party. Since the blockchain is shared among such a large number of peers, who each maintain a complete ledger with a full history of transactions, and that record is constantly being updated, it would be nearly impossible to manipulate."
"Without the need for a third party, a corporation can also verify transactions anywhere in the world without the need for any fees. "

“LedgerX will be authorized to provide clearing services for fully-collateralized digital currency swaps,” the announcement said, adding that LedgerX “initially plans to clear bitcoin options.”
The banks don't do ANYTHING that is fully collateralized.
https://www.rt.com/usa/397397-blockc...e-bill-passes/

The banks are there purportedly to facilitate business. Since they can create almost unlimited free money, they were able to make business their minor slave. The spread of the blockchain will squeeze out the banks.

This post runs long but, I want to ad one more facet to a very complicated economic picture.
"There is only one global empire: finance. China and the U.S. both exist within the Empire of Finance. Virtually every mercantile nation with access to global markets lives, works and thrives/dies within the Empire of Finance. Every nation that allows capital to flow into its economy is subservient to the Empire of Finance."
"China has thrived within the Empire of Finance by creating more debt and at a faster rate of expansion than any other fiefdom. China has brought 20 years of future growth and income forward, and eventually that vein of "wealth" runs out as time advances into the stripmined future. "

" Any nation-state that meets these four requirements is fully exposed to a global loss of faith in its economy, debt, balance of payments and currency. The Empire of Finance is a harsh master; any nation-state that wants to secure the privileges of hegemony must first be willing to accept the risk of full exposure to skittish global markets and capital flows.

Nothing wipes out "wealth" quite as quickly or effectively as a currency meltdown resulting from a sudden loss of faith / risk-averse capital exodus. Such a loss of faith or fear of loss quickly kills a nation's ability to float more debt on the global marketplace. "
"When the Empire of Finance collapses under the weight of its debt, perverse incentives, exploitation and inequality, the financial system of every nation-state within the Empire of Finance will collapse, too. Being the hegemon within the collapsing system won't protect the hegemon from collapse. Every nation-state that has submitted to the Empire of Finance will collapse. "
http://www.oftwominds.com/blogjuly17...mpire7-17.html

Last note, "One of the crucial things to understand about today’s world is that money is fungible. Whether it’s created in Japan, Europe, China or the US, once it’s tossed by a central bank into one or another part of the global economy, it eventually finds its way to a common pool of liquidity. "
"But converting to dollars yields a monthly average of about $250 billion, or $3 trillion per year."
"Here’s the recent increase in the BoJ’s balance sheet – which is another way of saying the amount of money the bank has created and released. Note that it has more than doubled in three years: "
Draghi and the ECB are still printing like crazy.
https://dollarcollapse.com/monetary-...oney-wherever/
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Old 07-26-2017, 02:12 PM
Danny B Danny B is online now
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P 2 P lending,,, Blockchain... Vids

Blockchain and GOV, https://www.youtube.com/watch?v=Cicwpqr5oR8
Cryptocurrencies and communism, https://www.youtube.com/watch?v=2uabpZAO0xI&t=167s
Bankers sense the competition, https://www.youtube.com/watch?v=W8TyZgJWUkA&t=16s
Bill gates weighs in, https://www.youtube.com/watch?v=k0HmrSfJwhU
An outline of the disruption, https://www.youtube.com/watch?v=G3psxs3gyf8&t=9s
Doug Casey weighs in, https://www.youtube.com/watch?v=CUQiYrc9tWc

7/26 US signals clampdown on red-hot digital coin offerings – Bloomberg
7/26 Some bitcoin backers are defecting to create a rival currency – NY Times
7/26 World’s largest bitcoin tumbling service announces sudden shutdown – Coin Telegraph
7/25 Daily trading volume in Bitcoin surpasses GLD – Zero Hedge

GLD is another Ponzi scheme so, it is very susceptible to volatility and competition.

While cryptocurrencies have their place, it is the blockchain that will bring all the major changes. LEGITIMATE businesses love the universal distributed ledger. They love the idea of escaping the predations of the bankers. Since the State of Delaware has made the big jump, the blockchain will be universally accepted by business.
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  #2267  
Old 07-26-2017, 02:37 PM
Danny B Danny B is online now
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Creating debt to finance consumption

The world-improvers are slowly shifting us to world socialism. Socialism is the firewall between non-producers and Darwinian pressures. BUT, supporting all those non-producers (bankers, bureaucrats and beggars) is getting quite expensive. The French GOV spends 57% of their GDP. Their are wildly out of compliance with Eurozone deficit rules. A State can only spend a small portion of the budget to support consumption. Money is spent either on consumption OR investment. If it is spent on investment, there is a chance for an increased return on investment.

If debt money is spent on consumption, it can never be repaid, other than with the proceeds from the money spent on investment. The investment spending must always be much larger than the consumption spending. In a debt-money system In the case of countries that ARE spending too much on consumption, they can temporarily paper over the difference with bond sales.

"One of the primary problems, not only in the U.S., but globally, is that government spending has shifted away from productive investments that create jobs (infrastructure and development) to primarily social welfare and debt service which has a negative rate of return. According to the Center On Budget & Policy Priorities, nearly 75% of every tax dollar goes to non-productive spending."
"Here is the real kicker, though. In the first quarter of 2017, the Federal Government spent $4.27 Trillion which was equivalent to 22.45% of the nation’s entire GDP."
"it took almost all of the revenue received by the Government just to cover social welfare and service interest on the debt. "
"Therefore, the larger the balance of debt becomes, the more economically destructive it is by diverting an ever growing amount of dollars away from productive investments to service payments."

Debt graph, http://realinvestmentadvice.com/wp-c...wth-072217.png

"That clearing process is going to be very substantial. With the economy currently requiring roughly $3 of debt to create $1 of real, inflation-adjusted, economic growth, a reversion to a structurally manageable level of debt would involve a nearly $35 Trillion reduction of total credit market debt from current levels. "
https://realinvestmentadvice.com/how...talking-about/
You should read the whole article. The debt growth is going into hyperdrive. There doesn't seem to be an escape from our huge deflationary reset. After the reset, we could go to debt-free currency creation. Who knows?
Deutsche bank is doing their part to try to block Brexit, "Worse Than People Can Imagine" - Deutsche Bank To Shift $350 Billion Of Assets From London To Frankfurt | Zero Hedge

7/26 More than a third of CA households have virtually no savings – Pasadena Star-News Governor Moonbeam will take care of them.
7/26 It’s five years since Draghi’s ‘whatever it takes’ – Bloomberg Yep, and it still hasn't worked.
7/26 Some bitcoin backers are defecting to create a rival currency – NY Times At least you could hold a tulip bulb in your hands.
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  #2268  
Old Yesterday, 02:16 PM
Danny B Danny B is online now
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The (maybe) conundrum of gold

Pax Americana used it's unlimited Bretton Woods credit card to build a world wide empire. The FED dictated monetary policy to as much of the world as it possibly could. Our military enforced FED policy. Pox Americana was born. Anybody who didn't like it got bombed. If bombing was too
messy or too obvious, the CIA was sent in to overthrow the government.
The world would like to go back to a gold standard and take away our credit card.
"Sergey Glazyev, a well-placed Russian politician and key Kremlin player, recently declared: “As soon as we (Russia) and China dump the dollar, it will be the end of the U.S. military might.”
"According to Salinas Price, “The present monetary system of the world, based on the dollar, is on its death-bed. A fiat currency — such as the dollar — cannot be replaced by another fiat currency,” he explains. “Therefore, the world will necessarily have to take up (precious metals) as the world’s money.”
OK, that sounds real good but, the SDR and blockchain are waiting in the wings.
"Specifically, he foresees China and Russia creating a gold- and/or silver-backed currency to conduct trade. "
"China, Russia and India are all accumulating massive amounts of gold."
"In summary, Sputnik states that, “if the dollar’s role as a global reserve currency is decreased, the world will see radical political and economic transformation.”
https://dailyreckoning.com/dollar-demise-continues/

OK, most of you know that John Bedini developed a method for producing elemental gold. THAT would be a complication for a gold standard.
Aaron has sent out this announcement, Gold Magnet by Jeff Moe
A gold magnet would definitely cut down on the cost of extracting and refining gold.
There are so many wild cards in the deck, it is impossible to predict what will be a store of value 10 years from now.
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  #2269  
Old Yesterday, 05:46 PM
Danny B Danny B is online now
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Electric vehicles,,, not yet

Here is an image showing how very important it is to switch over to electric cars.
https://mishgea.files.wordpress.com/...ng?w=529&h=348
I haven't seen any mention of the cost of doing a total rebuild and upgrade of the grid.
An interesting take on the new technology ...

I always wondered why we never saw a cost analysis on what it actually costs to operate an electric car. Now we know why....

At a neighborhood BBQ I was talking to a neighbor, a BC Hydro executive. I asked him how that renewable thing was doing. He laughed, then got serious. If you really intend to adopt electric vehicles, he pointed out, you had to face certain realities. For example, a home charging system for a Tesla requires 75 amp service.

The average house is equipped with 100 amp service. On our small street (approximately 25 homes), the electrical infrastructure would be unable to carry more than 3 houses with a single Tesla, each. For even half the homes to have electric vehicles, the system would be wildly over-loaded.

This is the “elephant in the room” with electric vehicles ... Our residential infrastructure cannot bear the load. So as our genius elected officials promote this nonsense, not only are we being urged to buy the damn things and replace our reliable, cheap generating systems with expensive, new windmills and solar cells, but we will also have to renovate our entire delivery system! This latter "investment" will not be revealed until we're so far down this dead-end road that it will be presented with an oops and a shrug.

If you want to argue with a green person over cars that are eco-friendly, just read the following:

Note: If you ARE a green person, read it anyway. Enlightening.

Eric test drove the Chevy Volt at the invitation of General Motors...and he writes: For four days in a row, the fully charged battery lasted only 25 miles before the Volt switched to the reserve gasoline engine. Eric calculated the car got 30 mpg - including the 25 miles it ran on the battery. So, the range including the 9-gallon gas tank and the 16 kwh battery is approximately 270 miles.

It will take you 4 1/2 hours to drive 270 miles at 60 mph. Then add 10 hours to charge the battery and you have a total trip time of 14.5 hours. In a typical road trip your average speed (including charging time) would be 20 mph.

According to General Motors, the Volt battery holds 16 kwh of electricity. It takes a full 10 hours to charge a drained battery. The cost for the electricity to charge the Volt is never mentioned, so I looked up what I pay for electricity. I pay approximately (it varies with amount used and the seasons) $1.16 per kwh. 16 kwh x $1.16 per kwh = $18.56 to charge the battery. $18.56 per charge divided by 25 miles = $0.74 per mile to operate the Volt using the battery. Compare this to a similar size car with a gasoline engine that gets only 32 mpg. $3.19 per gallon divided by 32 mpg = $0 . 10 per mile.

The gasoline powered car costs about $15,000 while the Volt costs $46,000........So the American Government wants loyal Americans not to do the math, but simply pay 3 times as much for a car that costs more than 7 times as much to run, and takes 3 times longer to drive across the country.....gambling that you’d find 75 amp charging stations whenever needed!

This is the "gorilla in the room" with electric vehicles; we would need lots more power plants to supply the required electricity to charge everyone's car. Our residential infrastructure is just part of the costs. Can you imagine how much a KW of electricity would cost then? Not just to run your car, but for lights, laundry, heating & cooling, etc!!!!!
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  #2270  
Old Yesterday, 09:42 PM
Danny B Danny B is online now
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Dormancy, volatility, zombies, Venezuela,Kunstler

When it comes to "buy and hold" the CBs are locked in.
"The volatility on stocks, as gauged by the VIX index, hit its lowest intraday level on record July 25 of this year. As for how much stocks are jostling about on any given day, that’s sunk to the lowest in 50 years."
"Even go-go assets are dormant. The risk premium, or extra compensation you receive to own junk bonds, is negative. Negative!"
Junk bonds pay less than safe bonds.
"In short, a less liquid world would be smaller, for a time. But when the time came to allow nature to take its course, central bankers could not bear the pain, nor muster the discipline, to allow creative destruction to cull the weakest from the herd. "

"On this basis, the average proportion of zombies among publicly listed companies grew from less than six percent in 2007 to 10.5 percent in 2015.
So we have one-in-ten firms effectively sucking the life out of the world economy’s ability to regenerate itself. "
The Greater Moderation - Danielle DiMartino Booth –Â*Money Strong, LLC

" One of the most pernicious consequences of financialization is the shifting of risk from the top of the wealth-power pyramid to the bottom: those who benefit the most from financialization's leveraged, speculative credit bubbles protect themselves from losses while those at the bottom of the pyramid (the bottom 99.5%) face the full fury of financialization's formidable risk."
"As Chad observed, the wealthy own the income streams from debt (bonds, etc.), while everyone else owes the interest and principal due on debt. As this chart shows, the wealthy own business equity and financial securities and have a modest slice of debt. The bottom 90% owe most of the debt, and their primary asset is the family home-- an asset that doesn't generate income while it generates interest income for those who own the mortgage. "
"The asymmetry of risk and exposure to loss resulting from financialization is about to become consequential."
Of Two Minds - The Toxic Fruit of Financialization: Risk Is for Those at the Bottom

Venezuela has zillions of barrels of oil so, https://sputniknews.com/military/201...-latinamerica/
Venezuela is to be trashed in the short term to raise oil prices, What Trump's Venezuela Sanctions Will Do To Oil Prices: Barclays Explains | Zero Hedge
The militants are going to make sure that the place burns, https://www.bloomberg.com/news/artic...o-take-up-arms
The people are screwed no matter what, https://www.bloomberg.com/news/artic...w-constitution

"the IMF is worse than pathetic. Their chief economist just stated that the global economy is on track for the broadest synchronized upswing it has experienced in the past decade."
"Canada is experiencing a historic building boom" hot Chinese money " Ironically, an increasing amount of the residential real estate is beyond the average Canadian’s capacity to purchase at current prices, "
http://kingworldnews.com/john-embry-...erribly-wrong/
The CBs can create lots of money but, they can't control where it goes. Just like Canada, Australians are being priced out of the housing market.
It is very dangerous to price the average working man out of the housing market.

The IMF wants to be where the money is; https://www.rt.com/business/397424-i...ecade-lagarde/
Kunstler, "The next big entertainment for them will be the financial implosion of the elites themselves as the governing forces of physics finally overcome all the ruses and stratagems of the elites who have been playing games with money."
"That’s exactly what is about to commence at the end of the summer when the government runs out of cash-on-hand and congress finds itself utterly paralyzed by party animus to patch the debt ceiling problem that disables new borrowing. "
"The Deep State may win its war against the pathetic President Trump, but it won’t win any war against the imperatives of the universe and the way that expresses itself in the true valuation of things. And when the moment of clarification arrives — the instant of cosmic price discovery — the clueless elites will have to really and truly worry about the value of their heads."
http://kunstler.com/cluster****-nati...of-everything/

22 reasons;
Real GDP has grown 1.97%, .83% and .69% over the last 3, 5, and 10 years respectively.
The Federal Reserve forecast for real GDP is 2.05% and 1.90% for 2018 and 2019
Remember that FED GOV spends 24% of the gdp into existence with DEBT money.
http://www.zerohedge.com/news/2017-0...ublesome-facts
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  #2271  
Old Today, 03:06 PM
Danny B Danny B is online now
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The cost of crony capitalism

Socialism is the firewall between non-producers and Darwinian pressures. But, socialism isn't just for incompetent persons.
"On this basis, the average proportion of zombies among publicly listed companies grew from less than six percent in 2007 to 10.5 percent in 2015.
So we have one-in-ten firms effectively sucking the life out of the world economy’s ability to regenerate itself. "
Socialism for the corporate sector.
"In a true free market, government doesn’t seek to protect jobs, industries, or firms. Rather, it merely fosters contract enforcement and protects individual rights—including property rights—under the rule of law."
Crony capitalism;
"The key here is competition. Corporate welfare assaults the very concept of competition by giving selected enterprises government-sponsored advantages or privileges that fall into three fundamental categories: financial support through spending subsidies, tax incentives, special government financing, or bailouts; regulatory preferences such as monopolies or mandates; and protectionist policies such as tariffs or quotas."

"This brings us to “creative destruction,” a key element of any free market, essential for human progress."
"In this way creative destruction provides greater prosperity and advancement over time. The Austrian-born economist Joseph Schumpeter first described this process as an essential element of capitalism, necessary for progress in an always-evolving economy."
"When it isn’t allowed to work through the intervention of corporate welfare, the result is economic inefficiency. Subsidies, price supports, and price setting all distort the function of market signals"
The State has protected MANY zombies BUT, zombies don't die. The State must support these zombies in perpetuity. Once again, the money is spent directly on consumption. It can never be repaid.
The Ultimate Trifecta of Crony Capitalism | The American Conservative

The tab just keeps growing, "Total Government And Personal Debt In The U.S. Has Hit 41 Trillion Dollars ($329,961.34 Per Household)"
Total Government And Personal Debt In The U.S. Has Hit 41 Trillion Dollars ($329,961.34 Per Household) | Zero Hedge
The eventual debt liquidation is expected to erase $35 trillion. THAT will definitely leave a mark.

Illinois public servants have set a new benchmark for GOV consumption.
Why Illinois Is In Trouble - 63,000 Public Employees With $100,000+ Salaries Cost Taxpayers $10 Billion | Zero Hedge
The City of Bell, Ca must have been their spiritual guidance, Bell Reveals More Six-Figure Salaries - NBC Southern California

7/28 How on earth can profits grow at 10% in a 2% economy? – Fortune It can when the FED is your godfather.
7/27 Seattle home prices go vertical as laundered Chinese money flows in – Zero Hedge
7/26 Australian housing affordability the worst in 130 years – Renegade Inc.
7/25 US existing home sales stumble as prices hit record high – CNBC

Just like Vancouver and other cities favored by the Chinese. They can sustain these bubbles for a long time. 50% of the rich Chinese want to live some place other than China.
"In the 1990s as much as 50% of the debt of State Owned Enterprises went bad. The Chinese government engineered a huge bailout "
https://seekingalpha.com/article/409...ate-china-debt
They are going to have to do this again.
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