Andy Ofiesh – Bitcoin Is Entering The Big Leagues

from Financial Survival Network Andy Ofiesh is a technologist at Armory Technologies. They produce… [more]

Andy Ofiesh – Bitcoin Is Entering The Big Leagues Andy Ofiesh - Bitcoin Is Entering The Big Leagues

Heather Wagenhals – Fraud Alert: Watch Out For The Verizon28 Scam

from Financial Survival Network Heather Wagenhals was back on with us discussing the new, or not so… [more]

Heather Wagenhals – Fraud Alert: Watch Out For The Verizon28 Scam Heather Wagenhals - Fraud Alert: Watch Out For The Verizon28 Scam

Peter Grandich – Gold Decline Is Technical Not Physical, A Contrarians Delight

from Financial Survival Network Peter Grandich says that everyone is down on gold and this could be… [more]

Peter Grandich – Gold Decline Is Technical Not Physical, A Contrarians Delight Peter Grandich - Gold Decline Is Technical Not Physical, A Contrarians Delight

John Rubino – Do Currency Wars Create Chaos?

from Financial Survival Network We had our regular Monday chat with John Rubino today. There's an… [more]

John Rubino – Do Currency Wars Create Chaos? John Rubino - Do Currency Wars Create Chaos?

Andrew Hoffman – Is Secession The Ultimate Debt Dodge?

from Financial Survival Network It's time for another Manipulation Monday meetup with Andrew Hoffman.… [more]

Andrew Hoffman – Is Secession The Ultimate Debt Dodge? Andrew Hoffman - Is Secession The Ultimate Debt Dodge?

Nick Barisheff – Sticking To Gold $10,000

from Financial Survival Network Nick Barisheff wrote his book $10,000 Gold: Why Gold’s Inevitable… [more]

Nick Barisheff – Sticking To Gold $10,000 Nick Barisheff - Sticking To Gold $10,000

Gary Christenson – What Is Gold Worth?

from Financial Survival Network Gary Christenson has been following Gold for a long time. He's… [more]

Gary Christenson – What Is Gold Worth? Gary Christenson - What Is Gold Worth?

Heather Wagenhals – Fraud Alert: Watch Out For The Verizon28 Scam

from Financial Survival Network

Heather Wagenhals was back on with us discussing the new, or not so new, Verizon 28 scam. That’s where a robo-call informs you that because you’re such a wonderful Verizon customer, you’re entitled to get $30 back, just go to the Verizon28 website. Give them your account information and then you’ll get the credit applied to your next bill, except that the instead of the credit, you’ll get a nice $300 charge. Evidently, it’s been going on for quite some time and Verizon hasn’t been doing much, if anything about it. Be on the look for this and a whole lot more.

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Andy Ofiesh – Bitcoin Is Entering The Big Leagues

from Financial Survival Network

Andy Ofiesh is a technologist at Armory Technologies. They produce a Bitcoin wallet but are working on features that are aimed at bringing the crypto-currency to a whole new level. Their multiple signature feature can require escrow agents to sign off on transactions to allow funds transfers to take place. This is really cutting edge. Based on our discussion, you can see that Bitcoin is rapidly evolving and we’re only at the very beginning.

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America Wastes $22 Trillion In War On Poverty

by Robert Rector

The Census Bureau’s annual report on poverty, released Tuesday, is noteworthy because this year marks the 50th anniversary of President Lyndon Johnson’s launch of the War on Poverty.

Liberals claim that the war has failed because we didn’t spend enough money. Their answer is to spend more. But the facts show otherwise.

Since its beginning, U.S. taxpayers have spent $22 trillion on Johnson’s War on Poverty (in constant 2012 dollars). Adjusting for inflation, that’s three times more than was spent on all military wars since the American Revolution.

The federal government currently runs more than 80 means-tested welfare programs. These programs provide cash, food, housing and medical care to low-income Americans. Federal and state spending on these programs last year was $943 billion.

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Hedge Against the Next Crisis

by Sally Patten
Smart Investor

Cash, gold and “real” assets, such as infrastructure and agricultural resources, are the place to be for investors, argues best-selling author and economist James Rickards.

Rickards, who wrote The Currency Wars and The Death of Money, is adamant that he is not a pessimistic sort of guy. But he has few soothing words to say about the economy.

The global economy, in his view, has been in depression since 2007 and investors may yet face either deflation or much higher inflation – and potentially both.

“Ultimately inflation has to come,” he says.

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One of the Most Innovative Cities in the World [You’ll Never Guess]

by Simon Black
Sovereign Man

[Editor’s Note: This is the first in a multi-part series on some of the top Startup ecosystems in the world]

When Chris D. came up with a great idea for his startup he was already thinking outside the box.

But his innovation didn’t stop there. His thought process extended far beyond the business idea into WHERE to best execute his plan.

He was already established in New York. And had he followed the conventional wisdom, that’s where he would have set up shop.

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Eurozone Inflation Weak as Currency Bloc Stuck in ‘Danger Zone’

While stronger than analysts expected, weak price growth threatens to make the debts of eurozone countries much harder to pay

by Peter Spence

Euro area prices grew at just 0.4pc in the year to August, in the sub-1pc territory described by Mario Draghi, president of the European Central Bank (ECB) as a “danger zone” for inflation.

Well below the ECB’s target for inflation of just below 2pc, the headline inflation reading was stronger than analysts had been expecting.

August’s inflation number was revised up from a preliminary estimate of 0.3pc, and was unchanged from a month earlier.

Eurozone inflation has now been sub-1pc for 11 consecutive months.

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How, Why, and Now For the “What”

by Bill Holter
Miles Franklin

I wrote Monday “how” and on Tuesday “why” precious metals (and all markets for that matter) are manipulated, today I will tell you “what” will remedy and the results. First, the manipulation in U.S. markets has become so blatant and so obvious that foreigners are taking note and altering their future plans. All you have to do is look around to see nation after nation, friend or foe, making plans to live and trade in a world without using dollars. China is at the center of these plans but the list is very long of nations who plan to trade in their own (or Chinese) currency. Off the top of my head, we have seen announcements from Argentina, Brazil, India, South Africa, Britain, France, Germany, Venezuela, and Australia and of course let’s not forget about Iran and Russia. This is not all inclusive but the point is …the thought process and preparation is far and wide.

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Trust in Mass Media Returns to All-Time Low

Six-percentage-point drops in trust among Democrats and Republicans

by Justin McCarthy

WASHINGTON, D.C. — After registering slightly higher trust last year, Americans’ confidence in the media’s ability to report “the news fully, accurately, and fairly” has returned to its previous all-time low of 40%. Americans’ trust in mass media has generally been edging downward from higher levels in the late 1990s and the early 2000s.

[...] Prior to 2004, Americans placed more trust in mass media than they do now, with slim majorities saying they had a “great deal” or “fair amount” of trust. But over the course of former President George W. Bush’s re-election season, the level of trust fell significantly, from 54% in 2003 to 44% in 2004. Although trust levels rebounded to 50% in 2005, they have failed to reach a full majority since.

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Fed Decision Day Guide: Considerable Debate on Forward Guidance

by Christopher Condon and Steve Matthews

Here’s what to look for when the Federal Open Market Committee releases its policy statement and new economic projections at 2 p.m. today in Washington and Federal Reserve Chair Janet Yellen holds a press conference at 2:30 p.m.

– Still “considerable”? It’s shaping up as a close call. Thirty-two of 60 economists in a Bloomberg survey said the FOMC will stick to its pledge to keep its benchmark interest rate near zero for a “considerable time” after it finishes bond purchases.

Cutting that language could spook investors, said Lindsey Piegza, chief economist at Sterne Agee & Leach Inc. in Chicago. “One of the biggest concerns with removing that is that the markets will read it as a hawkish tilt,” she said.

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Wall Street Responds To China’s QE: Beijing Finds Lack Of Faith Disturbing

from Zero Hedge

China warns “the outside world doesn’t get it, we do,” in a statement related to the “stealth QE” they unleashed yesterday, noting investorsd “do not realize that today’s Chinese economy is moving towards “new normal” in the process,” and “need to accept the volatility of economic data,” during this transition. Crucially, PBOC adviser Chen Yulu clarifies what Western central banks simply cannot grasp: “Hoping for stimulus policies in the face of increased economic pressure is short-sighted and does no good to long-term economic development,” warning investors should not expect “strong stimulus.” Wall Street is less than exuberant about the liquidity injection, as the impact on real economy may be limited due to lenders’ risk aversion.

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Homebuilders Jump On Lennar’s Highly Managed Earnings Report

by David Kranzler
Investment Research Dynamics

For starters, let’s not forget that all indications seem to indicate that the housing market hit a wall in August. So LEN’s earnings released today are “looking in the rear view mirror” numbers.

But not only that, Lennar has blown smoke across that mirror, making it difficult to determine what’s real and what’s questionable accounting. In fact, Lennar has not even filed an 8-K SEC disclosure, which companies typically file before they release their earnings report to the public. I went to look for it after I scanned LEN’s press release and found several troubling aspects to the numbers they reported this morning.

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Terrorist Felons For Selling Organic Food! …The Story of Rawesome

from WeAreChange

Video Description…

Debt Rattle Sep 16 2014: Subprime Is Back With A Vengeance

by Raúl Ilargi Meijer
The Automatic Earth

A few days ago, I wrote an essay about how ECB head Mario Draghi seeks to redefine the definitions of certain words and terms, like the one that define financial instruments, because he needs to find hundreds of billions in new spending money in Europe without adding to the behemoth existing debt (Germany won’t let him do that). And yes, that is indeed as impossible and meaningless as you think it is. But these are desperate times.

Thing is, I called that essay Draghi To Save Europe With Semantics , and maybe I shouldn’t have, because it’s obviously not the most sexy and catchy title on the planet, but my problem there was, it captures what I was talking about. And it’s all much broader and bigger than that, but then that’s what the article tries to explain.

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Silver Squelchers Part 2: Assassinate Silver & Gold to Bring in Fiat Money

by Charles Savoie
SRSRocco Report

The path towards fiat is always the same. First, assassinate silver. Second, hit at gold! Recall in the first episode of this series we documented the hostility of the N.Y. Clearing House Association to monetary silver.

Manufacturers Hanover was in on the frenzy to winnow silver coins out of the nation’s largest banking district in 1964 to 1967 for shipment to the Treasury for processing into bullion to feed to the Silver Users association in order to routinely attack silver prices—it was of course the same at J.P. Morgan under H.C. Alexander, at Chase under Pilgrims Society member George Champion, and so through the other New York megabanks and the New York Savings Banks, also run by Pilgrims Society members.

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Another New John Batchelor and Stephen F. Cohen Interview

by Turd Ferguson
TF Metals Report

Another week has gone by but, contrary to western media reports, “The Ukraine Crisis” has not calmed or de-escalated. As has been the norm since February, this week’s discussion between John Batchelor and Stephen F. Cohen is required listening.

Topics discussed this week include:

  • The terms and conditions of the alleged ceasefire
  • Why Poroshenko will soon visit the U.S. and address Congress
  • The likelihood of another “Maidan” revolution
  • The NATO alliance and the growing divisions within it all the while expanding the NATO military presence in Eastern Europe
  • The growing divisions on the Russian side between Putin and “Russian nationalists”

Once again, the information shared in these weekly discussion is nothing like anything else you’ll find in the western media. Please make the time to give this a thorough listen.

Click Here to Listen to the Audio

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Billionaires Quietly Prepare for Plunge

by Nick Hodge
Outsider Club

We know the stock market being at all-time highs is solely the result of unprecedented free-money policy from the Fed and not based on any sort of actual economic recovery.

The question has always been: When will the party come to an end?

It may now be approaching, as several billionaires have come forward in recent months saying they’re quietly preparing for the plunge.

First was Stan Druckenmiller, the hedge fund manager and founder of Duquesne Capital who’s worth around $2.8 billion.

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Miles Franklin Q & A: Precious Metals Are Savings to Be Utilized To Survive Such a Cataclysm

from Miles Franklin

Q: What happens to my bank loan after they reset the value of the dollar with a new currency?

Do I still have to pay back $150,000 with the reset “new” currency or do they adjust the loan also?

David Schectman’s Answer:

Jim Sinclair has written about this. You can be sure the banks will not end up on the wrong side of this. Yes, their loans will be “adjusted” to the new currency. If the new “dollar” is worth ten of the old “dollars,” then your loan will be adjusted by a factor of ten.

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Bitcoin: Buy Now or Forever Hold Your Peace

by Chris Campbell
Laissez Faire Books

“Many people dream of quitting their job, collecting their bags, and jetting off to a tropical paradise forever,” the CoinDesk blog we looked over this morning reads.

“Many people dream, but few people act. Gregory Simon is one of the few who decided to act.”

A couple years ago, Simon left a well-paying, 12-year career in the banking industry to travel full time.

After trekking through all of 2013 with his fiance, “we fell in love with Nicaragua for its natural beauty and kind people,” he said in an interview with CoinTelegraph.

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NYC Now Has Million-Dollar Parking Spaces

from RT America

Video Description…

Hump Daaaaay for the FOMC…

by Chris Gaffney
Daily Pfennig

Good Day! And what day is it? Mike, Mike, Mike, Mike? Hump Daaaaaaay… That commercial is still one of my favorites, but I’m sure Mike is glad it is no longer on TV. And this is not just ‘another’ Wednesday, as this is the day many investors have been anxiously awaiting. This afternoon we will get to see what the members of the Federal Open Market Committee are predicting about the future path of the US economy and how quickly they think interest rates will be heading higher. Will the members of the FOMC change course? I have been reading a lot of different opinions on what the FOMC statement will say, and the ‘no change’ camp is gaining ground now that PIMCO’s boss Bill Gross came out with his opinion that the statement will remain ‘dovish’.

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A Leading Entrepreneur Misleads His Readers

from The Daily Bell

Competition Is for Losers … If you want to create and capture lasting value, look to build a monopoly, writes Peter Thiel … Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. What valuable company is nobody building? This question is harder than it looks, because your company could create a lot of value without becoming very valuable itself. Creating value isn’t enough—you also need to capture some of the value you create. This means that even very big businesses can be bad businesses. – Wall Street Journal

Dominant Social Theme: To build a successful company, you need to be where others aren’t. And you need to work hard. Then rags-to-riches becomes possible.

Free-Market Analysis: Peter Thiel, the famous investor in such startups as PayPal and Facebook, has posted an interesting article over at the Wall Street Journal. It is an excerpt from a larger book (Zero to One) that deals with how to build successful companies.

In the article excerpted above, Mr. Thiel makes many lucid points, at least hypothetically, about how to generate a successful startup. Like John D. Rockefeller, he seems to believe it boils down to “competition is a sin.”

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Gold’s Move From West to East is Said Intended to Rebalance FX Reserves

by Ed Steer
Ed Steer’s Gold & Silver Daily, Casey Research

Yesterday In Gold & Silver

Looking at the Kitco chart below, you can see that the gold price made four attempts to rally during the Tuesday trading session, with the most impressive one coming at 11:40 a.m. EDT when the dollar index fell out of bed. But each time there was a not-for-profit seller in the wings to make sure that those rallies didn’t go anywhere, by throwing whatever Comex paper was necessary at them.

The low and high ticks were recorded as $1,232.20 and $1,243.20 in the December contract.

Gold closed in New York yesterday at $1,234.90 up only $2.20 on the day when all was said and done. Obviously the price would have finished quite a bit higher if JPMorgan hadn’t shown up when the did. Net volume was only 113,000 contracts, so it wasn’t overly difficult for ‘da boyz’ to keep the gold price in line.

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The Blatant Lie That The Deficit Is Declining

by Monty Pelerin
Monty Pelerin’s World

The Federal Government now claims the deficit is declining. That claim is a blatant lie. The magnitude of the lie is so great as to suggest the desperation that government officials must have with respect to the economic future of the country.

We are now into the sixth year of a declared economic recovery. That is a pathetic joke. No recovery takes more than a few quarters and during this “take-off” the economy grows at very high rates. That has not happened, PERIOD! Nor is it about to happen.

The size of government lies may be a reasonable barometer of the degree of danger facing the economy and the country’s citizens.

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This Appalling Practice Is Only Used in Two Nations – And the US Is One of Them

by Nick Giambruno, Senior Editor
International Man

It’s sort of an obscure story, but it’s also incredibly instructive.

That’s the story of how Eritrea—a tiny, mostly unheard-of country in East Africa—taxes its citizens who live abroad.

Eritrea is one of only two countries in the entire world that taxes its nonresident citizens on their global income. Specifically, Eritrea levies a flat 2% tax on the income of its citizens who reside abroad.

Nearly every other country in the world bases its tax system on residency rather than citizenship. For example, if you’re an Italian citizen and leave Italy to become a resident of and earn income in Dubai, you would not have to pay taxes on that income to the Italian government. If you were an Eritrean citizen, on the other hand, you would have to pay taxes to the Eritrean government no matter where you live and work.

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Bond Yields Slide As Core CPI Weakest In Over 4 Years

from Zero Hedge

Following yesterday’s stagnant PPI, today’s CPI is a shocker. Core CPI rose a mere 0.01% MoM – its weakest gain since Jan 2010. The ‘weakness’ was driven by energy (-2.6%), airline fares (-4.7%), clothing (-0.2%), and used car prices (-0.3%) tumbling. The headline CPI dropped 0.2% MoM (against a 0.0% expectation) – its biggest drop since March 2013. The 1.7% YoY gain (missing expectations) is the weakest rise since March 2014.

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Venture Capital Risk Taking and Cash Burn Rates Unprecedented Since 1999; 47% of Nasdaq in Bear Market

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

Venture capital risktaking and burn rates on cash are at levels that exceed the technology bubble in 1999. Companies that haven’t made a dime, and perhaps never will, have valuations of $10 billion more.

Curiously, it’ venture capitalist Bill Gurley who Sounds Alarm on Startup Investing in an interview with the Wall Street Journal.

WSJ: Mr. Gurley, who often voices his opinions on his blog, Above the Crowd, sat down with The Wall Street Journal as part of a Journal event series called “Tech Under the Hood.” The investor in Uber, Zillow, OpenTable and other Web startups spoke on a wide range of topics. What follows is an edited excerpt of a conversation specifically about potential cracks in the tech-startup investing scene.

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Oh Those Medical Trials? They May Be Rigged

by Karl Denninger


In a separate room, they had their own duplicate machine, but not connected to anything. This was their “practice” machine. Before using Amgen’s machine, they’d first take me into the other room and have me try various levels of sharp inhalations that were somewhat less than my maximum. My whispered instructions were to try a little harder, then try a little less, until I was able to consistently give just the poor enough “before” measurement Amgen wanted, followed by an “after” measurement that showed just the right amount of improvement. I’d then go back to the “real” computer and blow just exactly the desired counterfeit data into Amgen’s system.

Oh boy…. and no, that’s not the whole thing.

Basically, this entire “trial” was a scam. The guy wasn’t on the drug that was being compared against, the “testing” was rigged and so was the reporting.

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Eight Keys to Fed’s September Meeting

by Greg Robb
Market Watch

WASHINGTON (MarketWatch) — This week’s Federal Reserve meeting is perhaps the most closely-watched gathering of the year as the U.S. central bank prepares the groundwork for an eventual liftoff in interest rates.

There are several moving parts for investors. Here are eight things to watch for clues on when the central bank might a liftoff of short-term interest rates and what the tightening cycle might look like.

The Fed will release its policy statement and economic projections at 2 p.m. on Wednesday. Fed Chairwoman Janet Yellen will follow up with a press conference at 2:30 p.m.

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What You MUST Teach Your Children About Money – Weekly Wealth Digest Ep. 39

from VictoryIndependence

Video Description…

U.S. National Debt Surges $ 1 Trillion In Just 12 Months … Meanwhile FOMC “Tweaks” Wording

by Mark O’Byrne

Nick Laird of Sharelynx has just reproduced his fascinating and timely chart showing the US debt limit, the actual US debt and the gold price all in one chart. From 2000 until around the first quarter of 2013, there was a very strong and close correlation between the growth of the US national debt and the rise in the US dollar gold price.

After Q1 2013 this correlation broke down according to the chart, wherein the US national debt continued to skyrocket and the US dollar gold price fell significantly. The end of Q1 2013 coincides with the smash down of the gold price in April 2013, which actually created a huge increase in demand for physical gold all across the world.

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‘Sick’ France’s Economy is Stricken by Unemployment ‘Fever’

France’s new finance minister Emmanuel Macron says 10pc jobless rate and sclerotic economy shows reforms are needed

by Agencies

Crisis-hit France is “sick”, the country’s new economy minister said on Wednesday, urging immediate reforms to tackle sky-high unemployment and an economy that has failed to grow in six months.

“France is sick. It’s not well. We have to describe the situation as it is,” Emmanuel Macron told French radio.

“There has been a fever for several years in this country which is called mass unemployment … there is no choice but to … reform the economy,” said Mr Macron, a 36-year-old former Rothschild banker, who was a surprise choice for economy minister.

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The Taylor Rule Is Downright Dumb: Just Another Formula For Monetary Central Planning

by Mateusz Machaj
David Stockman’s Contra Corner

Various criticisms have been raised against the Fed, not only from the side favoring the abolition of central banking, but also from the side of those who argue that the Federal Reserve is indispensable for stability. One of those arguments came from respected economist John Taylor, who is the author of the often mentioned “Taylor Rule” on how to conduct monetary policy, with two House Republicans recently proposing to impose this “rule” on the Fed .

Like Taylor, politicians who advocate for such a rule blame huge credit expansion for the Great Recession. Unfortunately such policymakers are usually not convinced by the Austrian arguments in favor of abolition of the Federal Reserve. Instead they are convinced by John Taylor’s statistical demonstrations.

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