Robert Ian – Keeping Ahead Of The Pace Of Change

from Financial Survival Network Robert Ian has made a career of helping others keep up with and adjust… [more]

Robert Ian – Keeping Ahead Of The Pace Of Change Robert Ian - Keeping Ahead Of The Pace Of Change

Don Watkins – Walmart’s Employees Are Not Their Partners

from Financial Survival Network Ayn Rand Institute's Don Watkins is outraged over the notion that… [more]

Don Watkins – Walmart’s Employees Are Not Their Partners Don Watkins - Walmart's Employees Are Not Their Partners

Jason Hartman – Will Robust Robots Take Over The Workforce?

from Financial Survival Network Jason Hartman was on to discuss the Robotification of the workforce.… [more]

Jason Hartman – Will Robust Robots Take Over The Workforce? Jason Hartman - Will Robust Robots Take Over The Workforce?

Dennis Miller – Beware of Annuities and High Commissions

from Financial Survival Network We spoke with Dennis Miller today of With zero percent… [more]

Dennis Miller – Beware of Annuities and High Commissions Dennis Miller - Beware of Annuities and High Commissions

Ivan Eland – ISIS In Iraq: From Bad To Worse

from Financial Survival Network Ivan Eland is a Senior Fellow and Director at the Center on Peace… [more]

Ivan Eland – ISIS In Iraq: From Bad To Worse Ivan Eland - ISIS In Iraq: From Bad To Worse

Ned Schmidt – It’s All In August… Nothing Can Go Wrong With The Stock Market

from Financial Survival Network Ned Schmidt says that the near universal optimism sweeping the stock… [more]

Ned Schmidt – It’s All In August… Nothing Can Go Wrong With The Stock Market Ned Schmidt - It's All In August... Nothing Can Go Wrong With The Stock Market

Alasdair MacLeod – Welcome To The New Silver Fix Kludge

[Ed. Note: The audio file on this podcast has been repaired. This was originally posted with Alasdair's… [more]

Alasdair MacLeod – Welcome To The New Silver Fix Kludge Alasdair MacLeod - Welcome To The New Silver Fix Kludge

Robert Ian – Keeping Ahead Of The Pace Of Change

from Financial Survival Network

Robert Ian has made a career of helping others keep up with and adjust to change. Now we’re seeing the pace of change accelerate all around us.

It’s no longer enough to just keep up, you’ve got to anticipate it and stay ahead of it. Keeping debt low and investing in yourself always works whenever it’s tried. That’s what Conquering Change is all about.

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Don Watkins – Walmart’s Employees Are Not Their Partners

from Financial Survival Network

Ayn Rand Institute’s Don Watkins is outraged over the notion that Walmart employees deserve a piece of the profits just for showing up.

Walmart does have a profit sharing plan in place. The obvious question comes to mind, if the employees want to share profits, are they willing to share losses as well? Obviously not, that’s why they’re employees. There’s a difference between capital and labor and it’s called risk.

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Jason Hartman – Will Robust Robots Take Over The Workforce?

from Financial Survival Network

Jason Hartman was on to discuss the Robotification of the workforce. By some estimates as many as 45% of all jobs are ripe for replacement by robots. Will this really happen? It’s very possible, consider the case of the automated burger flipper that produces 360 burgers per hour, never takes a coffee break or a sick day. Or the driverless Google Car that takes you on your way at high speeds in near complete safety, day or night. It’s coming and coming soon, to an interstate near you.

Jason’s giving away a couple tickets to his Little Rock event in September. Email him at

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Weekly Update: ISIS Thugs, Rick Perry Mugs, Dollar Chugs

by Gainesville Coins’ Content Team
Outsider Club

Overview: The week was marked by a steep decline in precious metal prices as the dollar rose to an 11-month high against foreign currencies. The stock market was boosted by the release of favorable economic data in the U.S., pushing the major stock indices to highs not seen since the popping of the tech bubble some 15 years ago.


Gov. Rick Perry Turns Himself In On Indictment for Abuse of Power

Texas Governor Rick Perry was booked into a Texas courthouse Tuesday, on charges that the four-term governor abused his power in June of last year. The sitting Texas Governor, and possible 2016 Presidential candidate, was fingerprinted and had his mugshot taken as is usual for a criminal proceeding such as this. However, Perry remained defiant both before and after the proceedings which ended with a smiling mugshot being released.

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I’m Addicted to Helplessness

from Stefan Molyneux

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A Bond Paid For and Denominated In Gold: A Rhyme From the Past

from Jesse’s Café Américain

I don’t think that we have seen such a thing since the gold bonds issued in the US, which went the way of the twenty dollar gold piece in the early part of the 20th century.

There is a Bloomberg story on this today that is not generally available so I do not have a link as yet. It will be added as it becomes available. An astute reader sent it my way.

Here is a link to the actual bond announcement on the JSE site.

As you may recall, South Africa puts the ‘S’ in BRICS.

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Janet Yellen: Economy Closer to Fed Objective

from CNBC

CNBC’s Steve Liesman, provides highlights from Janet Yellen’s speech at Jackson Hole. Fed Chair Yellen said the FOMC is now questioning the degree of remaining slack left in the labor market and the timing of rate hikes.

What Is the Bond Market Telling Us?

by Monty Guild with Tony Danaher
Financial Sense

Interest rate levels have been confounding many professional investors around the globe. U.S. government benchmark 10-year interest rates began 2014 near 3.00 percent, but they have been sliding back to about 2.40 percent recently. The rally in bond markets and corresponding declines in yields are even more pronounced in Europe, where benchmark interest rates are actually at multi-century lows — even in the economically troubled southern periphery. In Japan, despite the central banks’ and governments’ massive effort to reflate the economy, bond yields haven’t budged.

The developed market economies are having a hard time sustaining growth, in part due to structural issues like demographics and high regulatory burdens. However, lower expected potential economic growth is just one reason why the prices of the debt issued by deficit-happy, heavily indebted governments keep going up. These countries can continue to borrow money without offering investors a real return as long as:

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Copper’s Warning, Gold’s Scolding

by Michael A. Gayed
Market Watch

“One thorn of experience is worth a whole wilderness of warning.” — James Russell Lowell

It is often said that the price behavior of copper can be an early tell on what the market’s next move will be. The reasoning is relatively simply (perhaps too much so). Because copper is used in nearly all aspects of economic activity, ranging from homes and electronics to factories, it is most sensitive to global-growth expectations and turning points in business cycles. As prices rise, demand for copper increases, which in turn means that activity likely is increasing before it shows up in fundamental data. Think of copper more broadly as an indicator of industrial activity.

Gold, on the other hand, is not used nearly as much as copper, nor is it as reflective of demand that occurs in booming times. It stands to reason then that if copper is outperforming gold, investors are betting on an acceleration of industrial activity, whereas weakness in copper relative to gold means the opposite.

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Russia Invades Ukraine! The Federal Reserve Is Beyond Clueless

from Gregory Mannarino

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Why The Fed’s Outrageous Gift To Foreign Banks – Risk Free Aribitrage On IOER – Is Just The Tip Of The Iceberg

by David Stockman
David Stockman’s Contra Corner

This profit stripping operation is simple. Foreign banks on Wall Street borrow from money market funds at an infinitesimal 3-6 basis points and then shuffle the loot down to 33 Liberty Street where the New York Fed pays them 25 basis points on the same funds. This gift is known as the IEOR payment for excess reserves. It is a short-term trade which is rolled-over day after day and is absolutely risk free. Both ends of the arb represent money prices that are administered by the Fed, not set by price discovery in the market.

Indeed, as part of its “open mouth” communications policy, the Fed promises to give considerable advance warning as to when the yield on IOER and also overnight money market borrowings is going to change. Accordingly, any foreign bank caught napping long enough to run afoul of a well-telegraphed Fed change in the arb would likely be operating on pre-telegraph technology. That is to say, this Fed sponsored arb is tantamount to owning a printing press. All it takes is a banking license from the state of New York or other US jurisdiction.

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But That Magical Blue Costume

by Karl Denninger

Yes, police officers are special. The most-important factor is that they go home every day safely, not whether they do their job in a professional manner. Even if this means that they shoot innocent victims of crime because they’re too ****ing trigger happy, that’s just tough ****. You or I would face a manslaughter charge for that act — they get a nice long paid vacation and then are reinstated without harm or foul (to them.)

Oh, and they don’t actually have to work either. Just say they did. After all, that magical blue costume is all that’s required.

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Janet Yellen’s J-Hole Speech: Slack Remains, QE Is Over, Rates Could Rise Sooner (Or Later)

from Zero Hedge

Simply put, as Citi noted, unless Fed head Janet Yellen goes full-dovish, risk assets face tremendous downside potential. As ConvergEx’s Nick Colas notes, Yellen receives a “B” grade from financial professionals, fewer than half (49%) of those surveyed approve of the job the Federal Reserve is doing. A clear majority (59%) of respondents describe the Fed as being “behind the curve” with respect to interest rates. Despite better-than-expected data whereever one looks in the US (apart from wages and housing), any hint of seni-dovish, or contingent dovish… or heaven forbid hawkish comments and the massive consensus trade that the Yellen Put has an ever-increasing strike price will fall rapidly by the wayside… though Draghi could come in later and save the day. With S&P so close to 2000, we suspect any hint of word ‘slack’ and algos will run stops and USDJPY will break 104.

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Is Portugal Next in Line for Wealth Confiscation?

by Nick Giambruno, Senior Editor
International Man

The pattern should be seared in your memory by now. If you fail to recognize it, you could be struck with a huge financial blow.

It’s a pattern that has played out over and over throughout history: a government gets into financial trouble, then denies there’s a problem, which is followed by a surprise wealth grab.

That’s exactly what happened when bank deposits in Spain and Cyprus were raided. We’ve also seen retirement savings confiscated in some form in Poland, Portugal, and Hungary. Capital controls have been imposed in Cyprus and Iceland.

Of course these aren’t the only examples of blatant government thievery. These examples are just within Europe and just within recent years. They can and will happen anywhere.

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Housing Stocks Move From Oversold To Ripe For Shorting

by David Kranzler
Investment Research Dynamics

July existing home sales were not what was reported in the headlines:

  • July existing home sales were 4.3% lower than July 2013.
  • Lower mortgage rates are not stimulating sales.
  • Rising inventories and rising rates will choke off demand and cause significant price declines.
  • Fannie Mae cuts its home sales forecast for 2014.

Here’s the link to my analysis of existing home sales: LINK

After a sharp sell-off after last month’s new homes sales report, the housing stocks were due for a bounce. Tuesday’s non-sensical Government-issued housing starts report gave the stocks the excuse short-sellers were looking for to cover. There’s no way any institutional money is buying the homebuilders, because to do so based on fundamentals would be a breach of fiduciary duty.

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India’s Anti-Gold Rules to Stay in Place – Finance Secretary

More pain is in the offing for gold retailers as the government maintains its priority is to sacrifice gold to depress the current account deficit.

by Shivom Seth
Mine Web

Mumbai (Mineweb) – In a major blow to the Indian bullion industry, the Finance Ministry has ruled out easing its curbs on gold imports any time soon. India’s retail sector has been seeking the softening of import duty for some time now.

Finance Secretary Arvind Mayaram told a media gathering on Thursday, during an industry and government meeting organised by industry chamber Assocham, that the government would consider easing the norms at some time in the future, when it was more comfortable with the current account deficit (CAD) situation and could start earning more from other exports.

Though CAD had fallen significantly in 2013-14, India’s apex bank RBI has noted that potential risks could emanate from both domestic and global factors.

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Rothschilds: Conspiracy or Conspiracy Fact

from AltInvestorshangout

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Gold Rising-Rate Fallacy

by Adam Hamilton
Zeal LLC

Gold has slid during this past week on mounting fears of interest-rate hikes. Between the latest FOMC meeting’s minutes and the Fed’s annual Jackson Hole Economic Policy Symposium, American futures speculators’ rising-rate phobias have been whipped into a fever pitch. They worry gold will be crushed when the Fed eventually starts normalizing rates. But history shatters this fallacy that rising rates are gold’s nemesis.

Today there is a near-universal belief among futures traders that rising interest rates are very bearish for gold. The underlying logic is simple. When interest rates rise, so do yields on bonds and cash in the form of money-market funds. This makes bonds and cash relatively more attractive to investors than gold, which yields nothing. Therefore they jettison their gold holdings to migrate capital back into bonds and cash.

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Nigel Farage on Dealing with Idiots Joining ISIS

from liarpoliticians

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Sixth Sigma Precious Metals Manipulation Proof

by Andrew Hoffman
Miles Franklin

It’s another Friday morning; and thus, another “day off” from writing. However, given how evident it is becoming that the end game of history’s largest Ponzi scheme is approaching, my mind is afire with thoughts. And thus, I spent last night compiling my thoughts – and nearly two years of data – for this very important article.

Yesterday, we wrote of the “Palpable Fear” evident in TPTB’s desperation to hold precious metals down, no matter how suicidal such actions will be in the long-term, when production collapses and demand explodes. Equity prices, too, must be supported at all costs to maintain the façade of “recovery” and QE “success.” Of course, as David Stockman brilliantly relates, the only reason such manias are even possible is the money management business’ most important unwritten rule – i.e., “thou shalt not be short when the market is rising.”

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Processors Still Chasing Old Crop Beans

by Dan Norcini
Trader Dan Norcini

The show must go on! The show I am speaking of is the continued squeeze of the shorts in first, the July, and then the August and now finally the September bean contract. Processors are trying to pull enough beans out of the hands of those who still own them to keep them supplied while they eagerly wait for the new crop to start flooding in.

The storyline of Feast vs. Famine or better, Famine vs. Feast, has perhaps never been more aptly illustrated in the soybean market than by the price action between the two crop years. As the 2013-2014 marketing year winds to a close, the tight carryover has resulted in a lack of deliveries as tight-fisted holders of the beans try to squeeze every last nickel out what they still own while the rest of the market braces itself for a massive harvest. This has sent the spreads widening out once more and made for a September bean contract which is pulling the entire grain floor higher as short-term oriented technical-based traders come in and buy.

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“Poppa Panda Sexy Pants” Story Just Got Dirtier

from RT America

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How Peace President Obama Panders To The War Party

by Robert Parry
David Stockman’s Contra Corner

President Barack Obama’s foreign policy has been disjointed and even incoherent because he has – since taking office in 2009 – pursued conflicting strategies, mixing his own penchant for less belligerent “realism” with Official Washington’s dominant tough-guy ideologies of neoconservatism and its close cousin, “liberal interventionism.”

What this has meant is that Obama often has acted at cross-purposes, inclined to cooperate with sometimes adversaries like Russia on pragmatic solutions to thorny foreign crises, such as Syria’s chemical weapons and Iran’s nuclear program, but other times stoking these and other crises by following neocon demands that he adopt aggressive tactics against Russia, Syria, Iran and other “enemies.”

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Nobel Gurus Fear Globalisation is Going Horribly Wrong (Technical)

by Ambrose Evans-Pritchard

David Ricardo’s Theory of Comparative Advantage has broken down after 200 years, or so I learned at the Lindau forum of Nobel laureates in Bavaria.

The theory published in 1817 has been a guiding principle of free trade, taken as a given by every student of economics in the modern era. It has served us well, but just as Newton’s theories ran into limits and were overtaken by Einstein’s relativity, comparative advantage no longer explains the world.

Under Ricardo’s model, inequality was supposed to narrow within countries as globalisation accelerated exponentially in the Nineties. Instead it is getting wider.

The Gini coefficient measuring the spread between rich and poor is narrowing between countries, but is widening almost everywhere within countries, leading to a corrosive concentration of wealth.

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High-Frequency Trading Critic Chilton Joins HFT Lobby Effort

by Eamon Javers

Former CFTC Commissioner Bart Chilton, who famously blasted high-frequency traders as “cheetahs” when he was a regulator, has gone to work with a leading high-frequency trading association, the group said Thursday.

The switch is a dramatic example of a regulator becoming a paid consultant for an industry he once criticized—and it says as much about how the high-frequency trading industry is changing its approach as it does about Washington’s often-criticized revolving door.

Chilton, who left the CFTC earlier this year, joined the law and lobbying firm of DLA Piper as a senior policy advisor in April. On Thursday, the Modern Markets Initiative announced that Chilton and DLA Piper will work with the association’s newly appointed CEO Bill Harts on “regulatory and public policy matters.”

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Yellen: We’re Not There Yet

by Myles Udland
Business Insider

Federal Reserve Chair Janet Yellen is speaking at the Kansas City Fed’s economic symposium at Jackson Hole.

Yellen’s remarks are focused on the labor market, which she said still hasn’t recovered from the financial crisis.

Among Yellen’s notable comments include the sluggish pace of wage growth.

First, the sluggish pace of nominal and real wage growth in recent years may reflect the phenomenon of ‘pent-up wage deflation,’” Yellen said. “The evidence suggests that many firms faced significant constraints in lowering compensation during the recession and the earlier part of the recovery because of ‘downward nominal wage rigidity’ — namely, an inability or unwillingness on the part of firms to cut nominal wages.”

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SCO and Mackinder’s Prophecy

by Alasdair Macleod
Gold Money

There will be a defining geopolitical event next month when India, Pakistan, Iran and Mongolia become full members of the Shanghai Cooperation Organisation (SCO). This will increase the population of SCO members to an estimated 3.05 billion. We should care about this because it is the intention of the SCO to do away with the US dollar for trade settlement.

The nations joining in September are currently designated as Observer States and the only one left will be Afghanistan, which will presumably join when it can untie itself from NATO. Dialog Partners, defined as states which share the goals and principals of the SCO and wish to develop mutually beneficial relations, include Belarus Sri Lanka and Turkey. Turkey is of special interest because it has been a long-standing NATO member. It had hoped to join the EU but it became clear that this was never going to happen. Instead under the leadership of Recep Erdog(an Turkey is moving towards the SCO.

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Fact or Fiction: US Treasury Agents Go Undercover Posing as Russian Businessmen

by Simon Black
Sovereign Man

This one is almost too sensational to be real. Almost.

I’ve written to you before about the Financial Crimes Enforcement Network (FinCEN), an agency of the US Treasury Department that chases around people they suspect of committing financial crimes.

Unfortunately, their definition of ‘financial crime’ is not the same as our definition of ‘financial crime’.

FinCEN is completely unconcerned, for example, with the likes of Jon Corzine, who was at the helm of MF Global as it committed some of the worst financial fraud in history.

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So What About ISIS Beheading People?

by Karl Denninger

War sucks.

It especially sucks when one of the combatant sides (or worse, both!) are bloodthirsty bastards.

ISIS is one such group.

Here’s the problem from a policy point of view — irrespective of that fact we’re not the world’s cop.

Now they have beheaded a US journalist — but that man knew where he was going and he knew the risk. He knew that covering these savages, specifically, might lead to him being targeted — especially when The United States inserted itself into the conflict of its own volition by bombing ISIS positions.

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Has Yellen Opened Door to Rise in Interest Rates?

US Fed chief appears to raise prospect of a rise in interest rates, despite warning on difficulty of working out whether jobs market has been permanently transformed

by Katherine Rushton

Janet Yellen, chairman of the US Federal Reserve, appeared to open the door to an early rise in interest rates on Friday, as she warned that it was almost impossible to determine whether the labour market would ever bounce back to its state before the economic crisis.

In a speech at the annual economic conference at Jackson Hole, Wyoming, she said that the Fed has used monetary policy in order to get as many people back work as possible, but it is becoming hard to tell how long it might take to reach the central bank’s targets.

“A key challenge is to assess just how far the economy now stands from the attainment of its maximum employment goal,” she said.

“Judgments concerning the size of that gap are complicated by ongoing shifts in the structure of the labour market and the possibility that the severe recession caused persistent changes in the labour market’s functioning.”

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