from King World News
Today an acclaimed money manager spoke with King World News about China’s plan for $100 silver, $2,000 gold, and the oil market. Stephen Leeb also spoke about the big picture for resource wars, fracking, Russia, the United States, and Saudi Arabia.
Leeb: “There is no doubt that the Saudis were targeting lower oil prices during a time of year which is seasonally very slow. The Saudis definitely wanted to send a message by lowering oil prices. Saudi Arabia has become extremely close in recent years to China. China is one of Saudi Arabia’s leading trading partners….
Continue reading the Stephen Leeb interview below…
Continue Reading at KingWorldNews.com…
by Mark O’Byrne
Demand for gold continues to be robust and has indeed increased significantly in recent weeks despite gold’s most recent paper driven gold weakness.
Demand in China and India surged again and gold reserve diversification by the central bank of Russia hit a new record high in September as geopolitical tensions rose.
[...] The seemingly insatiable appetite of the growing Indian middle class for gold is causing the government in India to again consider imposing sanctions on the importing of gold.
Gold imports into India in September were worth $3.8 billion. This figure is almost double the $2 billion spent by Indians in August as, once again, the Indian middle class, like their Chinese counterparts, used the opportunity of a weakened gold price to increase their holdings. This was particularly the case in recent weeks and in the run up to the Diwali festival which began yesterday with Dhanteras.
Continue Reading at GoldGore.com…
by Bill Holter
The argument of “stock versus flow” has been debated from many angles and across many asset classes. The most heated may be in the gold and silver bullion categories. I’ve written on this topic before and I’m sure I will again but for this exercise I want to talk about U.S. stocks.
Zero Hedge put out a piece on Monday reporting that JP Morgan says liquidity has dropped 40% in the S+P E mini contract. The study looks at “depth” of both bids and offers, this is now drying up, in fact, the ramp upwards was performed on continually lower volume. Not exactly a confidence builder as volumes dried up out of, well, lack of confidence. Without spending a whole lot of time on this, suffice it to say “liquidity is the blood of life” as far as the markets are concerned. Without it or when liquidity decreases, accidents tend to happen. “Accidents” in this case are when the markets move violently which affects a good part of the $1.4 quadrillion in derivatives. Big moves in either direction can affect the standing of these derivatives as for every winner there is a loser. The problem arises when a loser is so crippled they cannot perform (pay) on their losses.
Continue Reading at MilesFranklin.com…
by Gary North
Some of you will scoff. “North has gone round the bend this time.” On the contrary: the United States government has gone round the bend . . . again.
I begin with North’s law of bureaucracy: “Some bureaucrat will inevitably enforce an official rule to the point of utter imbecility.” There are no known exceptions to this law. It is right up there with the second law of thermodynamics.
But you want evidence. I offer this: a recent article in The Scotsman, whose very name exudes both high culture and low, low prices.
Let me also invoke the words of Dave Barry: “I am not making this up.”
Continue Reading at LewRockwell.com…
Over the last several months, our team has accumulated significant evidence that a market crash is imminent.
by Olivier Garret, Chief Executive Officer
600. That’s roughly the number of fiat currencies whose value has gone to zero.
The most common cause of paper-money death? Overissuance, of course.
Frank Trotter, currency expert and executive vice president of EverBank, joins us today to talk failed currencies. Frank takes us on a quick, fun trip through history to examine some of the more interesting and unique cases of currency collapse. It ain’t pretty: humans have been making pretty much the same monetary mistakes since the year 1227.
Continue Reading at CaseyResearch.com…
by Keith Weiner
False Assumptions and Wrong Predictions
An interesting article on MarketWatch today caught my attention. The subhead is the money quote, “Back in April every economist in a survey thought yields would rise. Guess what they did next.”
Every? The article refers to 67 economists polled by Bloomberg, all of whom would seem to believe in the quantity theory of money. This means they believe a rising money supply causes rising prices. That means they think the bond market expects inflation. Which means they expect the interest rate to rise, because investors will somehow demand more.
It didn’t happen because every assumption in that chain is false.
Continue Reading at Acting-Man.com…
by David Stockman
David Stockman’s Contra Corner
Last Wednesday the markets plunged on a vague recognition that the central bank promoted recovery story might not be on the level. But that tremor didn’t last long.
Right on cue the next day, one of the very dimmest Fed heads—James Dullard of St Louis—-mumbled incoherently about a possible QE extension, causing the robo-traders to erupt with buy orders. By the end of the day Friday, with the market off just 5% from its all-time highs, the buy-the-dips crowd was back, proclaiming that the “bottom is in”. This week the market has been energetically retracing what remains of the October correction.
And its no different anywhere else in the central bank besotted financial markets around the world.
Continue Reading at DavidStockmansContraCorner.com…
from Zero Hedge
By now, 6 years after America’s grand experiment in recreating Soviet-style central planning started, it should be clear to all except that subset of Homo Sapiens also known as “economists”, that the Fed’s QE is not helping the economy. In fact, it is merely boosting wealth inequality, leading to asset price (hyper)inflation, middle class devastation, and its inevitable outcome is yet another asset bubble can which will need to be kicked eventually leading to even greater economic misery, greater inequality, more conflict, and increasingly: outright warfare. In fact the two final outcomes of more QE are becoming increasingly clear: broad hyperinflation a la the Bernanke chopper to offset ever steeper episodes of deflation (as one monetizing nations exports its deflation to all the other nations), which implies a failure in the reserve currency, and rising social conflict, which culminates in a French revolution-type social revolt when the poor finally roll out the guillotines.
Continue Reading at ZeroHedge.com…
by Michael Snyder
The Economic Collapse Blog
Do you trust the news media? Do you believe that the information that they are giving you is true and accurate? If you answered yes to either of those questions, that places you in a steadily shrinking minority. Yes, on average Americans watch approximately 153 hours of television a month, but for their news they are increasingly turning to alternative sources of information such as this website. Big news channels such as CNN, MSNBC and Fox News are losing hordes of viewers, and they are desperately searching for answers. Things have gotten so bad at CNN that they have been forced to lay off hundreds of workers. The mainstream media is slowly dying, but they will never admit it. They are still convinced that they can find some way to turn this around and regain the trust of the American people. But it simply is not going to happen. The following are 10 things about the U.S. news media that they do not want you to know…
Continue Reading at TheEconomicCollapseBlog.com…
by Mac Slavo
Since his appointment as America’s Ebola Czar it has been revealed that not only does Ron Klain have no medical experience to speak of, but that his position as the head of coordinating efforts to stop Ebola is just a stepping stone to something bigger and better. The administration says that they need someone with management experience to ensure containment operations are executed effectively. That would be all fine and dandy except for a shocking interview that has made its way onto the internet in which Klain is asked about the top issue facing the world.
It turns out that the new Ebola Czar, whose responsibility is to quash the spread of Ebola and save lives, is seemingly an advocate of population and resource control.
Continue Reading at SHTFPlan.com…
by Mike “Mish” Shedlock
MISH’S Global Economic Trend Analysis
A 30% net income decline for McDonald’s is quite startling to most. I wonder why such a decline took so long.
In response to that pathetic performance, McDonald’s Vows Fresh Thinking.
McDonald’s Corp. outlined plans for what it called fundamental changes to its business as it reported one of its worst quarterly profit declines in years, driven by problems in nearly every major part of its business.
The 30% decline in net income for the period ended Sept. 30 was the latest in a string of disappointing results for the world’s largest restaurant chain. It is struggling with weak sales in Asia, Europe and, most important, its home market in the U.S.
Continue Reading at GlobalEconomicAnalysis.Blogspot.com…
by James Rickards
[Editor's Note from Jim Rickards: The following article describes a fictional dystopia in the spirit of Brave New World or 1984. It is not a firm forecast or prediction in the usual analytic sense. Instead, it's intended to provide warning, and encourage readers to be alert to dangerous trends in society, some of which are already in place. Thank you.]
As I awoke this morning, Sunday, Oct. 13, 2024, from restless dreams, I found the insect-sized sensor implanted in my arm was already awake. We call it a “bug.” U.S. citizens have been required to have them since 2022 to access government health care.
The bug knew from its biometric monitoring of my brain wave frequencies and rapid eye movement that I would awake momentarily. It was already at work launching systems, including the coffee maker. I could smell the coffee brewing in the kitchen. The information screens on the inside of my panopticon goggles were already flashing before my eyes.
Continue Reading at DailyReckoning.com…