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from Financial Survival Network
  John Rubino and I discussed that based recent history and mainstream economic theory, the past few years should not have been possible. When you cut interest rates to near-zero, run deficits of 10% of GDP and buy up every government bond in sight with newly created currency, you get a boom, end of story. That’s just the way capitalism works. But this time was different. After four years of QE and ZIRP and all the other easy-money acronyms, we entered the month of May with Europe in a deepening recession and the US recovery petering out. We discuss what’s coming next and what you can do about it.
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from Financial Survival Network
 Andy spent a sleepless Sunday night. He was watching another precious metals smackdown in the making. But then something funny happened. Gold and silver prices reversed their losses and started going up. The silver supply is still tight. Premiums on gold have stabilized but silver premiums are still high. In addition, there’s talk of another credit downgrade by Moody’s. The value of the US’s debt is quite dubious in any event, so what the ultimate affect of a downgrade will be is in doubt.
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from Financial Survival Network
 If you’ve been listening to and reading the Financial Survival Network for any length of time you know two things: 1) I’m not a financial advisor so I can’t offer you any personal advice and; 2) If you listen to my advice you are certain to lose money in the short term. Anyone who’s an experienced investor has seen the markets frequently make a fool out of you. How many times have you bought a stock only to see it rapidly slammed down leaving you with a substantial loss? While stock price trends are tough to determine, gold and silver price trends are far trickier to get a handle on. Which is why I leave it to others, such as Charles Nenner, Martin Armstrong and Nick Santiago.
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from Financial Survival Network
 Cody Horton has been helping people solve their problems through hypnotherapy for over 30 years. Her success stories are nothing short of amazing. The same things that keep you smoking and overeating are also keeping you from the success you desire. Getting to the bottom of that false belief is the key. However, that belief resides in your unconscious mind. Believing that you aren’t good enough is a leading cause of failure. People like Steve Jobs and Bill Gates didn’t have this problem. There are many other false beliefs that could also be holding you back. The time to change is now.
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by David Schectman
Miles Franklin
 Every one dollar in three is spent on the economy comes from the U.S. Government. The Government borrows 43% of every dollar it spends. This is clearly not sustainable.
The dollar is rising against everything! Yen, Euro, Yuan and all other currencies. Talk about the “best of a bad lot!” We are in real trouble – could the rest of the world be in even more trouble? If you go by the strength of the dollar, the answer is yes, because they are not coming over here to buy virtually zero percent bonds.
Continue Reading at MilesFranklin.com…
by Martin Armstrong
Armstrong Economics
 Hi Martin,
Re: Is Japan Real Estate a Taboo subject?
Thanks for all your writings – FANTASTIC. Spot on with the DOW & gold. What inspiration and enlightenment. As they say down under – you are a living legend mate! Out of pure interest only, I was wondering if you could do a blog on Japanese real estate 1989 to present day? I would be interested to know what has happened to their real estate prices since their 23 year depression (possibly heading into 26 years). Seems to be a Taboo subject that no one wants to talk about for whatever reason hence the more reason it would make a ‘good read’.
Continue Reading at ArmstrongEconomics.com…
from Zero Hedge
 It will come as no surprise to ZH readers that the topic of youth unemployment is critical in Europe but as Der Speigel reports, while the German government’s efforts remain largely symbolic, Southern European leaders pander to older voters by defending the status quo and are failing in their fight against the potential for social unrest. One graduate noted, “None of my friends believes that we have a future or will be able to live a normal life,” as a lost generation is taking shape in Europe. And European governments seem clueless; instead of launching effective education and training programs to prepare Southern European youth for a professional life after the crisis, the Continent’s political elites preferred to wage old ideological battles. In this way, Europe wasted valuable time, at least until governments were shaken early this month by news of a very worrisome record: Unemployment among 15- to 24-year-olds has climbed above 60 percent in Greece. Suddenly Europe is scrambling to address the problem making it an ‘obseesion’. There are strong words coming out of Europe’s capitals today, but they have not been followed by any action to date.
Continue Reading at ZeroHedge.com…
by Jeffrey Tucker
Laissez Faire Books
The opening talk at the Bitcoin 2013 conference in San Jose was given by the Wilklevoss twins, purported owners of 1% of the world’s existing Bitcoins. They addressed the burning question of whether and how much Bitcoin ought to be regulated by government.
Their primary message: “I don’t think anyone wants a fight — I think everyone here wants to build Bitcoin, to work with regulators… Cooperation is really the way forward.”
That was the opening salvo.The Bitcoin Foundation’s executive director also weighed in. “It’s time to engage with regulators and have a good, productive conversation,” Peter Vessenes told Cnet. This comment, and the Foundation’s intention to hire a lobbyist, prompted widespread calls from the rank and file for the Foundation to be dissolved.
Continue Reading at LBF.org…
by Mike Shedlock
MISH’S Global Economic Trend Analysis
 Here’s the question of the day: If you have a choice (and you many not for long because companies are abandoning grandfathered plans) Should you skip Obamacare and keep your old plan?
Any policy in place on March 23, 2010, the day health reform was enacted, falls under the grandfather exemption. As the Obama administration put it, if you like your plan, your doctor or both, you can keep them. Last year some 60 percent of employers, large and small, offered at least one grandfathered plan during open enrollment, according to the Kaiser survey. New employees can also join a grandfathered plan so long as the company has maintained consecutive enrollment in it.
Continue Reading at GlobalEconomicAnalysis.Blogspot.ca…
from King World News
 Today King World News is reporting on incredibly important developments taking place in the gold and silver markets. Acclaimed commodity trader Dan Norcini spoke with KWN about the amazing action in both of these key markets and provided four tremendous charts. Below is what Norcini had to say in his interview.
Norcini has been stunningly accurate in his predictions of the movement in the gold and silver markets. Now the acclaimed trader discusses these incredibly important developments in both of these markets: “Gold appears to have successfully retested its former spike low down in that important support level between $1320 – $1340 and held. What is important from a technical analysis perspective is that the volume completely dried up as price worked its way back into that critical support zone noted on the 4 hour price chart.
Continue Reading at KingWorldNews.com…
An under-the-radar metals play is offering investors strong near-term potential.
from Casey Research
 Dear Reader,
Gold is giving gold bugs another scare, with the last couple of trading days taking the price of our favorite investment back below $1,400 per ounce. Are we worried? No; the fundamentals remain in place, and we’ve no doubts about how this will end up.
That said, we’re clearly not out of the woods yet for the near term, which we warned was likely. We alerted Casey subscribers to this threat and issued a second “gold insurance” recommendation (puts on GLD) that netted almost 200% gains as of Friday’s close.
We will continue doing what we can to help our readers mitigate near-term risk, while helping them to build positions in companies with the best chances of delivering spectacular returns when gold and silver resume their upward march.
Continue Reading at CaseyResearch.com…
Italy’s president Giorgio Napolitano has called for immediate measures to combat a “dramatic crisis” after the country’s industrial output fell back to levels reached in 1979.
by Ambrose Evans-Pritchard
Telegraph.co.uk
 Mr Napolitano said the hardships faced by the people have become excruciating, and demanded a spate of measures to boost growth and halt the relentless rise in unemployment.
The plea came after fresh data showed industrial production in March fell 7.6pc from a year earlier, dropping for the 15th consecutive month. New orders fell 10pc.
The Istat data agency reported earlier that exports continued to fall in the first three months of the year and are down 6pc since last year, dashing hopes for a trade boost to offset the collapse in internal demand. This is in stark contrast to Spain, where exports have held up well.
Continue Reading at Telegraph.co.uk…
by Martin Armstrong
Armstrong Economics
 Bull markets I have stated many times are 7, 11, 13 or 21.
Gold has three very interesting bottoms. The 1999 is the intraday low. 2000 is the lowest yearly closing. Then 2001 produces the lowest quarter closing. This is an interesting set up that is rare to say the least. So effectively, both the 11 and 13 cycles come into play since the low was not a single event. So we got the 13 year since 2012 was the highest closing but we got the intraday in 2011 as 11 up from the lowest closing. Had both the intraday and the close been unified in 1999, then the ideal would have been 2010 with a max of 2012.
Continue Reading at ArmstrongEconomics.com…
by Bill Holter
Miles Franklin
 “How much Gold do they really have?” This is a question which is asked all the time regarding the ETFs and of inventories such as the COMEX and in London. Of course the real hardcore whack jobs ask even more “conspiratorial” question like how much gold is in Ft. Knox? A logical question mind you since there has been no audit since 1956, but what’s not to trust? You see, no matter where you look when it pertains to gold, the “motive” to lie is off the charts. So, how much gold do they really have? …the Chinese, that is. And why are the numbers and reports so vague and not often reported?
Continue Reading at MilesFranklin.com…
from Zero Hedge
UPDATE 1: Chatter of a potential US downgrade from Moody’s is being blamed (but that news out hours ago)
UPDATE 2: Silver futures trading volume 82% higher than 100-day average
While the mainstream media will likely be loathed to mention it, gold and silver are surging higher. Gold has retested $1400 and Silver $23 on no news… so it seems the demand for ‘cheaper’ precious metals was enough to warrant a 4.6% rally off overnight lows in gold and 12.5% in silver amid heavy volume in futures markets…
Continue Reading at ZeroHedge.com…
by Douglas E. French
Laissez Faire Books
 I was a small child when America’s coinage began to be debased in 1965. My dad was a coin collector who fastidiously filled blue coin books with old coins. I remember being especially intrigued by the 1943 steel penny. During World War II, my dad explained, the country was short on copper, and the Mint used steel to make pennies instead. Actually, it turns out it was zinc-coated steel.
Wikipedia tells us that the steel cent is the only coinage that can be picked up with a magnet. Not exactly a requirement for a good money. It is also the only coin in circulation that didn’t contain any copper. Even gold coins had a little copper back in the day.
Now the country is engaged in wars around the world and here at home: the war on terror, the war in Afghanistan, the war on drugs, the war on obesity. The government is constantly at war. As you might expect, valuable resources are needed, and the integrity of the coinage must be sacrificed just as it was for WWII.
Continue Reading at LBF.org…
from The Daily Bell
 Creative destruction: our economic crisis was wholly predictable: Keynes, Hobson, Marx – and the crisis of capitalism. Is it to the wrong ideas of economists or to the interests of the power-holders that we should turn to explain the “Great Contraction” of 2008-2009? John Maynard Keynes believed that the Great Depression of 1929-32 was caused by the wrong theory of how the economy worked in the minds of policymakers – the remedy for which was to equip them with the right theory. But this ignored one thing: that the reigning ideas are, more often than not, the product of the dominant power structures. – New Statesman
Dominant Social Theme: Keynes got it right for the right reasons.
Free-Market Analysis: This article gives us a concise insight into the theories of three great minds regarding the much discussed and maligned business cycle. Of course, these minds are “great” in a historical context. We don’t consider any of them great within the context of free-market thinking.
Continue Reading at TheDailyBell.com…
from TF Metals Report
 Can you imagine if the ES or treasuries fell 10% on the Sunday evening Globex open? Good heavens! Ole Thunderlips might have a heart attack!
But I suppose that if you can bomb silver for 15% on a Sunday evening two years ago and not be punished, why couldn’t you bomb it for 10% last night? Again, if the ES had suddenly dropped 10%, there would already be another worthless congressional hearing scheduled. Silver drops 10% and all you get is a video of some fool chewing on his hat.
Continue Reading at TFMetalsReport.com…
from Jesse’s Café Américain
 There is not much doubt in my mind that the antics we saw in the silver, and to a lesser extent gold, markets last night were a classic hit and run, Dr. Evil market play.
It is not particularly sophisticated, more like a brazen street con. But it does require a complacent regulatory environment, and a certain regard for fellow insiders who are in a position to see what has happened and raise objections with regulators and the exchanges.
One hits a quiet market with a very large ‘sell at market order’ and runs the stop loss orders on long positions. Or simply triggers margin selling by longs.
Continue Reading at JessesCrossroadsCafe.Blogspot.ca…
[Ed. Note: Welcome to American politics. 51% elect him, 2% change their mind, and then 51% want him impeached.]
by Mac Slavo
SHTF Plan
Conservative think tank and media outlet WND conducted an independent poll overseen by research firm Wenzel Strategies asking Americans if they think President Obama should be impeached for the various scandals currently in the news – the specific targeting by the IRS of conservative groups and Obama enemies, the illegal wiretapping for personal gain of AP news journalists, and the cover-up of the events leading up to the death of four Americans in Benghazi ahead of the election last year.
A stunning 50% of Americans surveyed said yes. What’s more, a full 25% of democrats polled by the firm agreed. The poll has a margin of error of 4.36%.
Continue Reading at SHTFPlan.com…
by Dr. Paul Craig Roberts
PaulCraigRoberts.org
You know that gold bear market that the financial press keeps touting? The one George Soros keeps proclaiming? Well, it is not there. The gold bear market is disinformation that is helping elites acquire the gold.
Certainly, Soros himself doesn’t believe it, as the 13-F release issued by the Securities and Exchange Commission on May 15 proves. George Soros has significantly increased his gold holding by purchasing $25.2 million of call options on the GDXJ Junior Gold Miners Index. http://bullmarketthinking.com/soros-reports-over-239mm-in-gold-positions-buys-25mm-in-call-options-on-juniors/
In addition the Soros Fund maintains a $32 million stake in individual mines; added 1.1 million shares of GDX (a gold miners ETF) to its holdings which now stand at 2,666,000 shares valued at $70,400,000; has 1,100,000 shares in GDXJ valued at $11,506,000; and 530,000 shares in the GLD gold fund valued at $69,467,000. [values as of May 17]
Continue Reading at PaulCraigRoberts.org…
by Dan Norcini
Trader Dan Norcini
 I will get more info posted on this as it becomes available from the CME Group. As mentioned in the brief piece I posted last evening, volume on the collapse in price was extremely light. There was an air pocket underneath the market but once price fell towards that major support zone near the $20 level, it rebounded quite ferociously. Further aiding the buying off the lows is the fact that Copper is proving to be quite resilient.
Continue Reading at TraderDanNorcini.Blogspot.ca…
by Simon Black
Sovereign Man
 In what may go down as one of the most obtusely out-of-touch policy memos ever written, the United Nations Food and Agriculture Organization recently released a paper entitled “Edible Insects: Future Prospects for Food and Feed Security.”
http://www.fao.org/docrep/018/i3253e/i3253e.pdf
For 171 pages, the paper argues for insect-based diets, explaining why governments should “[d]evelop a clear and comprehensive legal framework” to ensure that we all start eating insects.
So what’s the UN’s reasoning behind this? How could the organization possibly justify such an idea?
Continue Reading at SovereignMan.com…
by Michael Krieger
Liberty Blitzkrieg
Plane tickets to Orlando? Check. Sunscreen? Check. Dad’s cholesterol medicine? Check. A disabled person to help the family cut the lines at all the rides at Disney World? Checkmate.
After all, how pathetically pedestrian would it be to have to wait on long lines with the unwashed 99% just to ride in the tea cups for a couple of minutes. No thanks. For those that wonder how the 1%, (actually more like the 0.01%) in Manhattan do Disney World, look no further. For a mere $130 an hour you can purchase a disabled person to help you jump ahead of your monetary challenged neighbors on rides throughout the park. From the New York Post:
Some wealthy Manhattan moms have figured out a way to cut the long lines at Disney World — by hiring disabled people to pose as family members so they and their kids can jump to the front, The Post has learned.
Continue Reading at LibertyBlitzkrieg.com…
by Greg Guenthner
Daily Reckoning
 For a few short minutes Sunday evening, a bit of chaos roiled the futures markets.
Silver tanked at the open, dropping as much as 8% to a low of $20.25 before recovering later in the evening. Price continues to fight higher this morning. As I type, silver is off by almost 3%, while gold is only slightly in the red…
Here’s a real-time look:
Continue Reading at DailyReckoning.com…
by Graham Summers
Gains Pains Capital
 Japan has fueled much of this latest rally in stocks, driving the marketing first with promises of money printing by the Prime Minister in November 2012, and then a massive $1.2 trillion QE program announced by the Bank of Japan last month.
The result of this has been a collapse in the Yen and a 70%+ rally in the Nikkei in the last six months.
This has been the fundamental driver of this latest risk on rally. Remember that the US Federal Reserve has begun changing its language regarding QE and has even hinted at tapering QE before the year-end. So it’s the Bank of Japan who’s in the driver’s seat for asset prices today.
Continue Reading at GainsPainsCapital.com…
by Bill Holter
Miles Franklin
“We will go to bed with Gold at $1,500 and wake up with it $4,000 bid… and nothing offered.” — Reg Howe (many of you know him, some of you don’t but we all owe him a debt of gratitude)
This quote by Mr. Howe sounds crazy. It sounds impossible and sounds like the rantings of a raving lunatic right? Well, no it doesn’t. Actually, I believe that something resembling this will not only happen but has to happen. Logically, mathematically and just pure structurally an event very similar is locked, loaded ready for the trigger to be pulled. But how can I say this?
Continue Reading at MilesFranklin.com…
by John Rubino
Dollar Collapse
 Bloomberg is reporting on the rising number of hedge funds shorting gold:
Gold Bear Bets Reach Record as Soros Cuts Holdings
Hedge-fund managers are making the biggest ever bet against gold as billionaire George Soros sold holdings last quarter and Goldman Sachs Group Inc. predicted more declines after the longest slump in four years.
The funds and other large speculators held 74,432 so-called short contracts on May 14, U.S. Commodity Futures Trading Commission data show. That’s the highest since the data begins in June 2006 and compares with 67,374 a week earlier. The net-long position dropped 20 percent to 39,216 futures and options, the lowest since July 2007.
Continue Reading at DollarCollapse.com…
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