Gordon T. Long – Call On Next Credit Crisis Coming True

from Financial Survival Network In our last discussion, Gordon T. Long predicted that another credit… [more]

Gordon T. Long – Call On Next Credit Crisis Coming True Gordon T. Long - Call On Next Credit Crisis Coming True

Jason Hartman – Real Estate Investing In Inflationary, Deflationary and Stagflationary Times

from Financial Survival Network Jason Hartman was with us today discussing the relative performance… [more]

Jason Hartman – Real Estate Investing In Inflationary, Deflationary and Stagflationary Times Jason Hartman - Real Estate Investing In Inflationary, Deflationary and Stagflationary Times

Sandy Botkin – How To Maximize Spousal Social Security

from Financial Survival Network Sandy Botkin, CPA and attorney talks about how to maximize your spouse's… [more]

Sandy Botkin – How To Maximize Spousal Social Security Sandy Botkin - How To Maximize Spousal Social Security

Arch Crawford – Stock Market Peak Approaching

from Financial Survival Network Arch Crawford, an FSN regular, uses a combination of technical and… [more]

Arch Crawford – Stock Market Peak Approaching Arch Crawford - Stock Market Peak Approaching

Peter Grandich – Measurable Signs of Terrific Speculation

from Financial Survival Network We caught up with Peter Grandich today. Peter says there are many… [more]

Peter Grandich – Measurable Signs of Terrific Speculation Peter Grandich - Measurable Signs of Terrific Speculation

Danielle Park – Risk Versus Reward

from Financial Survival Network Danielle Park was on today, really on. With all that's going on in… [more]

Danielle Park – Risk Versus Reward Danielle Park - Risk Versus Reward

Bob Hoye – Credit Busts Take Time To Work Out

from Financial Survival Network We talked with market historian and analyst Bob Hoye today. The… [more]

Bob Hoye – Credit Busts Take Time To Work Out Bob Hoye - Credit Busts Take Time To Work Out

Sandy Botkin – How To Maximize Spousal Social Security

from Financial Survival Network

Sandy Botkin, CPA and attorney talks about how to maximize your spouse’s social security payments. Like everything else the government does, there’s no simple solution. It all depends upon your situation. For some it makes sense to start receiving payments as soon as possible. For others, it makes sense to wait until age 70. Sandy goes through the myriad of possibilities to help decide which is right for you.

We also discuss the grandparent scam. If you’re a grandparent and get an urgent plea for cash from your grandchild in the middle of the night, think twice before wiring the cash.

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Gordon T. Long – Call On Next Credit Crisis Coming True

from Financial Survival Network

In our last discussion, Gordon T. Long predicted that another credit crisis was forming. That was nearly two months and sure enough we’re witnessing the start of a sub-prime auto debt bubble. Great call on Gordon’s part. Lately he’s been writing about the stock-buyback bubble. This work is starting to gain traction as well. David Stockman had a recent article about IBM’s rampant buyback’s. Gordon’s work is always ahead of the curve, which is why he’s a regular on FSN.

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Arch Crawford – Stock Market Peak Approaching

from Financial Survival Network

Arch Crawford, an FSN regular, uses a combination of technical and astrological charts to track the markets and the economy.

He believes the stock market is very close to a peak. From there, it won’t be pretty. But it will be good for gold and silver, so get ready now.

There’s lots of factors involved in this forecast so listen closely.

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Jason Hartman – Real Estate Investing In Inflationary, Deflationary and Stagflationary Times

from Financial Survival Network

Jason Hartman was with us today discussing the relative performance of real estate during a number of different economic scenarios.

When done properly in the right markets at the right valuations, real estate will protect you whether the economy is inflating, deflating or just stagnant.

See the charts Jason prepared.

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The Sum Of Our Future – He Who Makes The Laws Never Goes To Jail For Breaking Them

by Martin Armstrong
Armstrong Economics

Working for the government was always pitched as somehow being better guaranteed than risky corporations. However, he who makes the laws never goes to jail for breaking them – a plain fact of life. The problem with government pensions has been they promised whatever sounded nice, with zero accountability. The presumption that tax revenue was an endless pit is one of those fallacies that nobody ever investigates.

[...] It was the city of Mainz where the Gutenberg printing press was invented. This created an economic boom and everyone wanted to be in Mainz. The politicians saw the boom and presumed the potential tax revenue was linear and would be endless – judging tomorrow by today’s trend. They began to borrow against what they anticipated would be there forever. As they needed interest to pay for borrowing and they became addicted to debt, they raised taxes. The taxes kept rising so they killed the economic boom and people began to leave. Mainz followed the typical path as we are doing today. They were no longer paying off debt, they entered the Ponzi scheme – issued new debt to pay off the old in a revolving bond auction. Taxes kept rising and people migrated. The printing press was no longer unique to Mainz. The rich left town taking their capital and entrepreneurship with them. When Mainz lost confidence of the bond buyers and could no longer sell new debt to pay for the old, the collapse unfolded. Mainz, like Detroit, defaulted. The creditors sacked the city and it was burned to the ground.

Continue Reading at ArmstrongEconomics.com…

Shock: Colombia to Legalize Marijuana

from The Daily Bell

Liberal party looks to legalize medical marijuana in Colombia … Colombia’s Liberal Party will support a new bill to legalize medical marijuana in the country, local media reported … The move was announced by Liberal Party (Partido Liberal) Senator Juan Manuel Galan, who explained that the bill would open the door for the use of currently illicit marijuana for medicinal uses, Colombia’s El Espectador newspaper reported. “I am going to establish a bill to legalize the therapeutic use of marijuana [...] We are going to promote this initiative under the framework that the Liberal Party has to be a party that promotes liberal ideas, progressive ideas,” Galan said according to Bogota’s Blu Radio. – Colombia Reports

Dominant Social Themes: This can’t be happening! Drugs are bad and drugs in Colombia are even worse!

Free-Market Analysis: The news regarding Colombia’s intention to legalize marijuana – as yet little reported in the wider, Western world – is truly shocking, though regular readers of our publications will not be much surprised.

More than almost any other publication we know of, we’ve stayed on top of this important elite meme and covered it closely. Our most significant insights have had to do with the determination of the power elite to legalize not just marijuana but drugs generally around the world.

Continue Reading at TheDailyBell.com…

US Bonds Dumped, New Gold Backed Currency | Jim Willie (Ep. 2)

from FinanceAndLiberty.com

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Ineffective Leadership From Our “American Idol” President

by Monty Pelerin
Monty Pelerin’s World

Ineffective leadership is apparent at all levels of government. Many blame President Obama, perhaps even more should. He is the so-called leader and things (not good) are occurring on his watch. People are frustrated with the state of the nation and their own personal condition. But is it Obama or is it something more systemic?

There are plenty of reasons to be unhappy with Obama – the economy is under-performing, geo-political risks are high, people no longer trust their government, apparent scandals abound, etc. Obama is to blame for many of the current problems. Some he created, others he inherited and made worse.

What if Obama is not a “one-off” event? What if getting rid of him doesn’t solve the problem? Is it possible that the US is condemned to similar ineffective leadership in the future?

Continue Reading at EconomicNoise.com…

Another Doctor Throws In The Towel

by Karl Denninger

And another one….

Milk, cheese, butter, cream – in fact all saturated fats – are bad for you. Or so I believed ever since my days as a medical student nearly 30 years ago.

During that time I assured friends and family that saturated fat would clog their arteries as surely as lard down a drain. So, too, would it make them pile on the pounds.

Recently, however, I have been forced to do a U-turn. It is time to apologise for all that useless advice I’ve been dishing out about fat.

Just apologize eh?

How about all the people you “assured” who took your advice as a claimed professional, complete with the monopoly to prescribe and call yourself “doctor”, charging a fee for said advice and shout down those who disagreed with you, and were objectively harmed as a consequence?

Continue Reading at Market-Ticker.org…

Legal Tender Renders Planning Impossible

by Keith Weiner
Gold Seek

There is much confusion over what the legal tender law does. I have read articles, written by people who are otherwise knowledgeable about economics, claiming that legal tender forces merchants to accept dollars under threat of imprisonment. Recently, I wrote a short article for Forbes clarifying how legal tender law works in the US.

Legal tender law has nothing to do with merchants. If you want to sell steak dinners in your restaurant for silver, you may legally have at it. Unfortunately, the tax code discourages your would-be customers as I wrote in another article.

The legal tender law targets the lender. It grants to debtors a right to repay a debt in dollars.

Continue Reading at GoldSeek.com…

Minute Memo #36 – NSA Kids Share Your Nude Pics

from Bill Still

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Reuters Debunked: Khodakovsky Denies Interview Aspects

by Mike “Mish” Shedlock
MISH’S Global Economic Trend Analysis

As I suspected would happen, the exclusive Reuters interview in which “Commander Alexander Khodakovsky acknowledges rebel fighters had BUK missiles” has been challenged.

In my analysis of the Reuters article (see Ukraine Rebel Commander Admits Having BUK Missiles; Damning Contradictions?), I point out considerable discrepancies in what Reuters author Anton Zverev wrote and actual quotes Reuters presented.

The discrepancies were so big I stated “It appears to me Reuters may have stretched this interview quite a bit.

Thus I am not surprised to discover Khodakovsky challenged huge aspects of that interview, in terms of things he stated, did not state, and even timing of events.

Continue Reading at GlobalEconomicAnalysis.Blogspot.ca…

What If Democracy Is a Fraud?

by Andrew P. Napolitano

What if you were allowed to vote only because it didn’t make a difference? What if no matter how you voted the elites always got their way? What if the concept of one person/one vote was just a fiction created by the government to induce your compliance?

What if democracy as it has come to exist in America today is dangerous to personal freedom? What if our so-called democracy erodes the people’s understanding of natural rights and the reasons for government and instead turns political campaigns into beauty contests? What if American democracy allows the government to do anything it wants, as long as more people bother to show up at the voting booth to support the government than show up to say no?

Continue Reading at LewRockwell.com…

Is This The Real Reason Why Malaysian MH17 Was Shot Down?

from King World News

Today an outspoken hedge fund manager out of Hong Kong stunned King World News when he spoke about what he thinks is the real reason why Malaysian flight MH17 was shot down. William Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, also met with a senior official in Moscow as part of his information gathering to find out why MH17 was shot down.

Kaye: “One of the arguments in favor of precious metals, even though they’ve been constrained, is what’s going on in Ukraine and to an extent in Gaza. I just got back from Russia and had a chance to meet with some important people in Moscow, where I now have a home….

Continue Reading at KingWorldNews.com…

Berlin Woke Up, Now What About Your City?

from WeAreChange

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US Intelligence: No Evidence Russia Did It

by Dr. Paul Craig Roberts

After days of placing hostile blame for the downing of the Malaysian airliner on Russia, the White House permitted US intelligence officials to tell reporters that there is no evidence of the Russian government’s involvement.

Obviously, the US satellite photos do not support the Obama regime’s lies. If the White House had any evidence of Russian complicity, it would have released it to great fanfare days ago.

We are fortunate that the analytical side of the CIA, in contrast with the black ops side, retains analysts with integrity even after the purge of the agency ordered by Dick Cheney. Incensed that the CIA did not immediately fall in line with all of the Bush regime’s war lies, Cheney had the agency purged. The black ops side of the agency is a different story. Many believe that it should be defunded and abolished as this part of the CIA operates in violation of statutory US law.

Continue Reading at PaulCraigRoberts.org…

Russian Boomerang Hits UK, Oligarchs Shift Assets From London

from Zero Hedge

We warned 4 months ago that the UK especially should be fearful of sanctioning Russia and biting the hand that feeds its real estate recovery. However, it appears Cameron’s ire has got the better of him, as The Telegraph reports, allies of Vladimir Putin are understood to be moving assets after British demands to punish the Russian president’s ‘cronies’ in the wake of the Malaysia Airlines disaster in Ukraine. The EU said Tuesday (albeit somewhat confusingly) that it had agreed to draw up a list of Russians who will face sanctions but the UK government refused to say which ‘oligarchs’ were being targeted as it was fearful of the risk of ‘asset flight’. It appears that backfired…

Continue Reading at ZeroHedge.com…

Escaping the Rat-Race and News Update

from ChrisMartensondotcom

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Instability the New Normal?

by Axel G. Merk, Merk Investments
Gold Seek

Once upon a time, there were safe havens in this world, places where investors could hide when the going got rough. If you believe this fairy tale world will persist, pinch yourself. In our assessment, not only are there no safe havens left, but instability may be the new normal. Is your portfolio ready?

In a ‘typical’ crisis, if there is such a thing:

• First, the equity markets tend to have a broad sell-off as risky assets become less popular. Historically, this is where the U.S. dollar or cash in general has been king. In the Eurozone debt crisis, in this phase, the Euro was sold as a proxy for all things bad in the Eurozone.

Continue Reading at GoldSeek.com…

Greenspan Says Bubbles Can’t Be Stopped Without ‘Crunch’

Former Fed chairman worries about false dawns and the looming Fed exit

by Greg Robb
Market Watch

WASHINGTON (MarketWatch) — Former Federal Reserve Chairman Alan Greenspan has always been a student of the economy. Since the financial crisis, he’s become a student of human nature.

Sitting in his office with a view of the Washington Monument in the distance, Greenspan is eager to share the insight distilled in his recent book, “The Map and the Territory,” due out in paperback this fall.

Greenspan, 88, who was chairman of the U.S. central bank for more than 18 years, from 1987 to 2006, managed to steer the economy through multiple crises, mainly by slashing rates and remaining upbeat. He suffered a remarkable fall from grace after leaving office and has apologized for trusting big banks too much. He has since gone back and re-examined his views on the economy.

Continue Reading at MarketWatch.com…

FDA and Consumer Welfare | Robert Higgs

from misesmedia

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Flee Rather Than Stand Your Ground

by Wendy McElroy
The Daily Bell

The Italian Marxist and philosopher Paolo Virno was imprisoned in 1979 for his affiliation with the Red Brigades. The organization attempted to create a revolutionary state through acts of violent destabilization such as bank robbery. While in prison, Virno had a political epiphany which he later expressed as, “Nothing is less passive than the act of fleeing, of exiting.” Although little else about Virno may be politically admirable, his strategic insight is intriguing.

“Fleeing” as a political act sounds paradoxical to North American ears, which are used to hearing of resistance in terms of “stand your ground” and confrontation. By fleeing, however, Virno means an “engaged withdrawal or exit.”

Perhaps the best way to understand what Virno means is to consider the problem to which he believed “fleeing” was the best solution.

Continue Reading at TheDailyBell.com…

The PC Is Not Dead Yet

If you’re a nimble, savvy investor, there’s opportunity for profit in the PC space

by Adam J. Crawford, Analyst
Casey Research

Back in 2010, the personal computer (PC) was having a banner year. Sales reached an all-time high of 350 million units, a 13.8% increase over the prior year. In early 2011, Gartner, a leading IT research firm, projected that PC sales would increase another 15.9% in the coming year, to 406 million units.

But that projection—which reflected the industry’s expectations in general—turned out to be wildly optimistic. Actual sales were 365 million units, 11% under Gartner’s projection and only 4% over the prior year. But the bloodletting had only just begun. In 2012 and 2013, year-over-year PC sales decreased by 4% and 10% respectively.

What caused this near-collapse?

Continue Reading at CaseyResearch.com…

How Government Uses “Efficiency” as an Excuse to Steal

by Gary Galles

Scarcity makes efficiency — getting the most value from given resources —important. The more efficient individuals are, the more they benefit from their actions. That’s why economists are always talking about efficiency.

Unfortunately, some things said to be efficient are not. A major reason is that while efficiency is usually described in terms of mutual benefits, in public policy discussions, economists and governments who employ them actually use an efficiency standard known as “potential compensation.” In a nutshell, this means that the “winners” gain more than the “losers” lose, so that the winner could potentially compensate the loser enough that they would both come out ahead.

Continue Reading at Mises.org…

Useful Idiots and the Something For Nothing Society – Part 1 of 3

by Theodore (Ty) Andros
Gold Seek

This week’s TedBits is as important a commentary as any I have ever written in my 10+ years writing Austrian analysis of the unfolding world macroeconomics and geopolitical situation. It covers the origins, causes and destinations we are headed for, the participants, historical context and the future based upon past episodes: Past, present and future so to speak. I hope you enjoy it. Best wishes Ty.

Adam Smith in his seminal book, Wealth of Nations, outlined how all great empires rest upon an educated, productive and prosperous citizenry. The United States is no exception as its schools over the centuries from grade school to colleges provided the teachings of history, reading and writing, logic, self-reliance, independence and the principles of the constitutional republic brought to us by our founding fathers and God. The United States was founded by people seeking shelter from Despots, authoritarian governments and dictators.

Continue Reading at GoldSeek.com…

EU Bail-Ins – Retrospective Bail-In Ignoring State Guarantee

by Mark O’Byrne

Today’s AM fix was USD 1,300.00, EUR 964.68 and GBP 763.76 per ounce. Yesterday’s AM fix was USD 1,307.50, EUR 971.04 and GBP 767.54 per ounce.

Gold fell $1.60 or 0.12% yesterday to $1,304.90/oz and silver slipped $0.02 or 0.1% to $20.92/oz.

[...] Gold has eked out small gains in London this morning after gold in Singapore fell nearly $10 overnight. Futures trading volume on the move down were very low and 37% below the average for the past 100 days for this time of day, according to Bloomberg data.

Silver for immediate delivery dropped 0.2% to $20.95 an ounce in London. Platinum declined 0.3% to $1,480 an ounce. Palladium rose 0.3% to $876.20 an ounce. It reached a 13-year high of $889.75 on July 17.

Continue Reading at GoldGore.com…

U.S. Gold ETF Delivers First Physical Bullion Coins; Holdings Grow

from Reuters.com

(Reuters) – Merk Gold Trust, a bullion-backed exchange-traded fund which allows its shares to be redeemed for physical gold, said on Wednesday it has made its first delivery in dozens of U.S. gold coins to an investor.

The ETF, launched by Palo Alto, California-based Merk Funds in May to offer a liquid trading product with the benefits of physical gold bullion, has accumulated 40,000 ounces in two months even in a bearish gold market.

The fund, trading on the NYSE Arca platform with the ticker OUNZ, owns less than 1 percent of gold held by SPDR Gold Shares , the world’s biggest gold ETF. However, many participants are warming to the idea that the product could bridge the gap between the physical and paper gold markets.

Continue Reading at Reuters.com…

Keiser Report: Blackmail Insurance Sale (E631)

from RT

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Obama: Pro-Business or Corporatist?

from The Daily Bell

‘Obama hates business’ is an idiotic distraction. Also: It’s wrong … What’s gnawing at me is this throwaway line in an editorial from the Economist about the very real problem of slower macroeconomic growth. In reference to an alleged spate of “anticompetitive regulations,” the magazine labeled President Obama “…the least business-friendly president for decades.” It’s a silly, thoughtless thing to write, with little substantiation in the piece beyond red-meat talking points about “the endless sprawl of job-destroying regulations,” a line that makes sense at a Tea Party party, not a supposed piece of economic analysis. – Washington Post

Dominant Social Theme: Obama doesn’t hate business. He’s all about “tough love.”

Free-Market Analysis: Our perception has changed. Once this article would have made a kind of sense to us (long ago). But it surely doesn’t now.

It’s jam-packed with various sorts of financially illiterate assumptions.

Sorry for picking on it; there are hundreds if not thousands of articles published every day that are built on the same foundation. The author is Jared Bernstein, former chief economist for US Vice President Biden and the author of a book called Crunch: Why Do I Feel So Squeezed?

Continue Reading at TheDailyBell.com…

Documents Emerge in Senate Hearing from William Broeksmit, Deutsche Exec Alleged to Have Hanged Himself in January

by Pam Martens and Russ Martens
Wall Street on Parade

Anshu Jain, Co-CEO of Deutsche Bank, was not having a good day yesterday. First the oath-taking, subpoena-issuing Senate Permanent Subcommittee on Investigations released a detailed email to him from William Broeksmit, the 58-year old former Deutsche risk executive alleged to have hanged himself in his London home on January 26. By the end of the day, someone had leaked to the Wall Street Journal a deeply critical letter of Deutsche Bank from the New York Fed which said that “The size and breadth of errors strongly suggest that the firm’s entire U.S. regulatory reporting structure requires wide-ranging remedial action.”

What the U.S. Senate’s Permanent Subcommittee on Investigations was taking testimony on yesterday, however, was far from an “error” committed by Deutsche Bank. Both Deutsche Bank and Barclays were shown, through emails, marketing materials and witness testimony, to have set up elaborate schemes to effectively loan out their balance sheet to hedge funds to conduct billions of trades each year in trading accounts under the bank’s name, deploying massive leverage that is illegal in a regular Prime Brokerage account for a hedge fund client.

Continue Reading at WallStreetOnParade.com…

Doug Casey on The Peter Schiff Show (7/23/14)

from Peter Schiff

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After Split Vote, S.E.C. Approves Rules on Money Market Funds

by William Alden
New York Times

Regulators on Wednesday imposed new restrictions on a vast market that played a significant role in the 2008 financial crisis.

The Securities and Exchange Commission voted 3 to 2 to adopt a set of new rules for money market funds, a $2.6 trillion industry where ordinary individuals and sophisticated institutions alike park their money. The rules come after years of debate among regulators and lobbying from Wall Street.

The rules “will reduce the risk of runs in money market funds and provide important new tools that will help further protect investors and the financial system,” Mary Jo White, the S.E.C. chairwoman, said in a statement. “Together, this strong reform package will make our markets more resilient and enhance transparency and fairness of these products for America’s investors.”

Continue Reading at Dealbook.NYTimes.com…

Goldman Goes Schizo On Gold: Boosts Price Target To $1200 Even As It Is “Selling It With Conviction”

from Zero Hedge

Back in the beginning of 2014, Goldman loudly predicted that 2014 would be the year of normalization: the economy would grow by 3%, the S&P 500 would barely rise to 1900, and gold would tumble to $1066. By now it goes without saying that it has been dead wrong about the first with the economy set for a contraction in the first half of 2014 and the full year assured to have the worst GDP growth since Lehman, wrong about the second with the market now so clearly disconnected from any economic fundamentals nobody even pretends that it is anything but the Fed manipulating a rigged stock market, and has been painfully wrong about the third.

Continue Reading at ZeroHedge.com…

Doomcast 51

from Charlie Mcgrath

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