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

Cris Sheridan – Yes The Stock Market Can Go Higher

from Financial Survival Network Financial Sense's Cris Sheridan was on the show today. While this… [more]

Cris Sheridan – Yes The Stock Market Can Go Higher Cris Sheridan - Yes The Stock Market Can Go Higher

Phil Davis – The Most Influential Man On Twitter

from Financial Survival Network Phil Davis of PhilStockWorld.com says he's the most influential person… [more]

Phil Davis – The Most Influential Man On Twitter Phil Davis - The Most Influential Man On Twitter

David Morgan – Palladium Prices Still White Hot

from Financial Survival Network David Morgan of the The Morgan Report joined us today for a recap… [more]

David Morgan – Palladium Prices Still White Hot David Morgan - Palladium Prices Still White Hot

Mickey Fulp – Why Are Gasoline Prices Falling In August?

from Financial Survival Network Mickey Fulp, the Mercenary Geologist and I discussed current petroleum… [more]

Mickey Fulp – Why Are Gasoline Prices Falling In August? Mickey Fulp - Why Are Gasoline Prices Falling In August?

Choice and Change: How to Close the Gender Gap | Learn Liberty

from Learn Liberty

Video Description…

Your Chance to Profit from Amazon’s “Crazy” Prediction

by Matthew Milner
Daily Reckoning

Late last year, Amazon.com announced the use of “drones” to deliver packages.

Drones are remote-controlled aircraft. They’re mainly used for military purposes.

At the time, it smelled like a publicity stunt…

Flying saucers delivering little brown boxes of books and shampoo?

Really, Mr. Bezos?

But as it turns out, it’s legitimate.

Continue Reading at DailyReckoning.com…

Gerald Celente’s Trends in the News – “Obama: Congress “Are People of Good Will”‘

from Trends Journal

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US Is In A Depression: Rickards

Former LTCM General Counsel Jim Rickards Expects the Worst, and Not in the Distant Future

by Michael Ide
ValueWalk

Well we know what the most pessimistic bear case is: former Long Term Capital Management general counsel Jim Rickards warns that a 70% – 80% stock market crash followed by rioting and the rise of neo-fascism is one of the possible outcomes from growing systemic instability, and the other two are terribly rosy either. In an interview with Christoph Gisiger at leading Swiss business newspaper Finanz und Wirtschaft, Rickards explains that why he believes the US is actually in a recession and that monetary policy is merely papering over deep structural problems.

Continue Reading at ValueWalk.com…

Russia Boosts Gold Reserves by $400M to Highest Since ’93

by Nicholas Larkin
Bloomberg.com

Russia added about 9.4 metric tons of gold valued at $400 million to reserves in July as it expanded holdings for a fourth consecutive month to the highest in at least two decades.

The country’s stockpile, the fifth-biggest, increased to 35.5 million ounces (1,104 tons) last month from 35.2 million ounces at the end of June, data posted on the central bank’s website showed. The amount of gold now held is the most since at least 1993, according to International Monetary Fund data.

Russia’s reserves, which overtook those of Switzerland and China this year, almost tripled since the end of 2005, IMF data show. The ruble declined about 6.3 percent against the dollar since June as the worst standoff with the U.S. since the Cold War intensified. The conflict, stemming from President Vladimir Putin’s annexation of Ukraine’s Crimea peninsula in March, has led to sanctions that have hurt trade and threatened to send Russia’s $2 trillion economy into a recession.

Continue Reading at Bloomberg.com…

Financial Times: Wall Street Plays Dangerous Derivatives Games — Again

by John Morgan
Money News

The same kinds of complex, confusing derivatives that almost brought down the global financial system in 2008 are back in spades, according to the Financial Times. As one trader put it: “We’ve reformed nothing.”

The U.K. newspaper suggested investors may be fooled by a false sense of security, and are therefore “chasing levered returns via certain types of US credit derivatives that Wall Street is willingly providing in the current climate of low interest rates and moribund volatility.”

The developments suggest that the financial industry learned little from the 2008 meltdown and that reforms put in place since then are ineffective.

Continue Reading at MoneyNews.com…

What Will Be the Global Currency of the Future?

by Linda Goldberg and Signe Krogstrup
World Economic Forum

Could the dollar lose its status as the key international currency for international trade and international financial transactions, and if so, what would be the principal contributing factors?

Speculation about this issue has long been abundant, and views diverse. After the introduction of the euro, there was much public debate about the euro displacing the dollar (Frankel 2008). The monitoring and analysis included in the ECB’s reports on “The International Role of the Euro” (e.g. ECB 2013) show that the international use of the euro mainly progressed in the years prior to 2004, and that it has largely stalled since then. More recently, the euro has been displaced by the renminbi as the debate’s main contender for reducing the international role of the dollar (Frankel 2011).

Continue Reading at ForumBlog.org…

Obamacare Is A Disaster For Businesses, Philly Fed Finds

from Zero Hedge

Remember all those allegations that Obamacare would be an unmitigated disaster for businesses, especially smaller companies? Well, now we have proof.

As the Philly Fed, which mysteriously soared at the headline level even as the vast majority of its components tumbled, reported moments ago, “in special questions this month, firms were asked qualitative questions about the effects of the Affordable Care Act (ACA) and how, if at all, they are making changes to their employment and compensation, including benefits.”

What the survey found was very disturbing: not only did businesses report that as a result of Obamacare the number of workers they employ is lower than higher (18.2% vs 3.0%), that there has been an increase in part time jobs (18.2% higher vs 1.5% lower), leading to a big increase in outsourcing and most importantly, Obamacare costs are being largely passed on to customers (28.8% reporting higher vs 0.0% lower), the punchline was that while there is basically no change in the number of employees covered (17.6% higher vs 14.7% lower and 67.6% unchanged), there has been a big jump in Premiums, Deductibles, Out-of-pocket maximums, and Copays, which has been “matched” by a far greater reduction in the range of medical coverage and the size of the network.

Continue Reading at ZeroHedge.com…

Precious Metals Expert Gabe Elton – The Fed is Irrelevant

from Charlie Mcgrath

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Another ObamaCare Setback: IRS Says There’s a $300 Million Shortfall

by Jason Simpkins
Outsider Club

One of the taxes implemented by the Affordable Care Act in January is a 2.3% charge on medical device sales.

But thanks to flawed collection methods, there’s roughly a $300 million shortfall.

That is, the IRS had originally estimated that the tax would bring in about $1.2 billion in the second and third quarters of 2013 – but it only received $913.4 million.

That’s troubling considering the medical device tax was supposed to be a major pillar in paying for the healthcare law, slated to rake in $20 billion through 2019.

Continue Reading at OutsiderClub.com…

Again: Where Are The FELONY ASSAULT Charges?

by Karl Denninger
Market-Ticker.org

Officer “Go **** Yourself” apparently has been “suspended.”

A police officer who pointed an assault rifle at people in Ferguson on Tuesday night and threatened to kill them has been relieved of duty and suspended indefinitely, authorities said.

Suspended eh?

For committing a felony you get suspended? Not even fired for cause with a permanent black mark on your employment record — suspended?

“The unified command strongly feel these actions are inappropriate, and not indicative of the officers who have worked daily to keep the peace,” Schellman said in an e-mail.

Pointing a weapon at someone who is not a threat to your safety and openly threatening to kill them is a serious felony. It is a felony irrespective of who you are and where you do it.

Continue Reading at Market-Ticker.org…

Bank of America Reaches $16.65 Billion Settlement

Penalty is the largest ever reached with a single U.S. company

by WSJ Staff
Market Watch

Bank of America Corp. agreed to pay a settlement of $16.65 billion over its mortgage lending, capping a legal odyssey that has dogged it since the depths of the financial crisis.

The deal resolves a government investigation that stems largely from the bank’s purchases of Merrill Lynch & Co. and Countrywide Financial Corp. as they teetered in the housing crisis.

The settlement amount is the largest ever reached between the U.S. and a single company, and is approximately equal to the Charlotte, N.C., bank’s BAC, +1.51% total profit for the past three years. Bank of America has spent more than $60 billion on legal woes stemming from the financial crisis, and the latest settlement would push the tab to close to $80 billion.

Continue Reading at MarketWatch.com…

Dropping Oil Prices Threaten Moscow’s Budget

by Andy Tully
Oil Price

Oil and gas are at the heart of the Russian economy and are largely responsible for keeping Moscow’s government budget in balance. But the recent decline in the price of oil from the North Sea and Texas has now spread to Urals crude, giving President Vladimir Putin one more economic headache.

The price of Urals crude fell just below $100 per barrel on Aug. 18, an 18-month low. On Aug. 19, it dropped to less than $97 per barrel. These declines coincided with similar drops in the price of Brent crude from the North Sea and U.S. oil.

The reasons are fairly easy to recognize. First, the United States has been on a drilling tear, extracting oil at record levels to increase its supply at a time when demand is waning. Second, though more tentative, is that conflicts in North Africa and the Middle East are so far not interfering with oil production in these regions.

Continue Reading at OilPrice.com…

Ferguson: No Justice in the American Police State

by Dr. Paul Craig Roberts
PaulCraigRoberts.org

There are reports that American police kill 500 or more Americans every year. Few of these murdered Americans posed a threat to police. https://www.dojmedia.com/u-s-police-have-killed-over-5000-civilians-since-911/ Police murder Americans for totally implausible reasons. For example, a few days before Michael Brown was gunned down in Ferguson, John Crawford picked up a toy gun from a WalMart shelf in the toy department and was shot and killed on the spot by police goons. http://www.msnbc.com/msnbc/family-man-killed-cops-walmart-demands-surveillance-video Less than four miles from Ferguson, goon thugs murdered another black man on August 19. The police claims of “threat” are disproved by the video of the murder released by the police. http://www.huffingtonpost.com/2014/08/20/kajieme-powell-shooting_n_5696546.html

Continue Reading at PaulCraigRoberts.org…

How to Grow A City in Honduras, Part I: Governance as Technology

[Ed. Note: Here is Part 2, Part 3, and Part 4.]

from ReasonTV

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Fed’s Meeting Minutes Are Looked At Differently

by Chuck Butler
Daily Pfennig

Good Day! … And a Tub Thumpin’ Thursday to you! Get the brooms out! The Cardinals finally swept a team instead of just winning the series! Now that looks more like the team I expected to see this year! But before I go out and buy playoff tickets (not that I do that anyway) I have to temper this enthusiasm because this team has found a way to fall right back into a funk all year… Maybe, this time they won’t, eh? Just wishin’ and hopin’ and thinkin’ and prayin’!

Well… Let’s see… The Fed’s FOMC Meeting Minutes or FFMM, as my friend the Mogambo Guru would put it, printed yesterday afternoon… Recall that I said yesterday morning, that the markets were looking forward to hearing what Janet Yellen had to say about what she called a “slack in the labor markets”… I kidded that she would not deliver the goods, Hehehe…

Continue Reading at DailyPfennig.com…

The Crazy-Making Fed

by Charles Hugh Smith
Of Two Minds

The Federal Reserve’s communications and policies are a form of crazy-making double bind.

Systems theorist/anthropologist Gregory Bateson developed (with others) the concept of double bind, a psychological and social conflict in which contradictory demands generate a form of schizophrenia:

Unlike the usual no-win situation, the subject has difficulty in defining the exact nature of the paradoxical situation in which he or she is caught. The contradiction may be unexpressed in its immediate context and therefore invisible to external observers, only becoming evident when a prior communication is considered. Typically, a demand is imposed upon the subject by someone who they respect (such as a parent, teacher or doctor) but the demand itself is inherently impossible to fulfill because some broader context forbids it. For example, this situation arises when a person in a position of authority imposes two contradictory conditions but there exists an unspoken rule that one must never question authority.

Continue Reading at OfTwoMinds.com…

The Latest Updates from Martin Armstrong – 2014.08.21

by Martin Armstrong
Armstrong Economics


SP500 Still on Track to Test 3000 Level

ECB To Flood Southern Europe with Trillion Euros

Death of the Dollar

Black Box faked in Presidential Candidate Crash in Brazil

Charlie Chaplin – The Great Dictator

Continue Reading at ArmstrongEconomics.com…

Europe: Is the Deepening Crisis Coming to a Head?

from The Daily Bell

Nobel economists say policy blunders pushing Europe into depression … German Chancellor Angela Merkel defends eurozone and says it is hard to manage a currency for 18 states … Professor Joseph Stiglitz said austerity policies had been a ‘disastrous failure’ and are directly responsible for the failed recovery. – UK Telegraph

Dominant Social Theme: The central bankers have done a miserable job of managing the EU and the euro.

Free-Market Analysis: If only the latest crop of central bankers had been smarter, wiser, more dynamic, then this crisis – or that one – could have been avoided. This is always the lament.

The price-fixing mechanism – central banking – is never at fault. Only the bankers that run it. They are never worthy of its awesome power. They are the “little men” who have not translated their opportunity into a satisfactory reality.

Continue Reading at TheDailyBell.com…

Stefan Molyneux Hosts the Peter Schiff Show – The Death of Michael Brown #Ferguson

from Stefan Molyneux

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The Italian Job: How Borrowing And Printing Lead To An Economic Dead End

by David Stockman
David Stockman’s Contra Corner

Earlier this week Bloomberg published a devastating chart showing real hourly wage growth for the first 60 months of every cycle going back to 1949. The 11 cycle average gain was 9% and the largest was 19% a half century back.

Fast forward to the 60 months of ZIRP and QE since the Great Recession officially ended in June 2009, however, and you get a drastically different picture: Real hourly wages have risen by just 0.5%, and in the great scheme of things that’s a rounding error.

Continue Reading at DavidStockmansContraCorner.com…

‘The Bull Move Has Lasted So Long Nobody Can See Its End’

by Wolf Richter
Wolf Street

“Here’s when US equity and bond markets will change direction,” Cali Money Man grumbled a few days ago. He is a wealth manager and has been on the job at brokerage firms and large banks through three phenomenal crashes. Unlike others, he hasn’t forgotten the craziness that led up to them.

“When investors come to fear the next Fed-talk, that’s when markets will change direction,” he said. “Now they bid up risk in advance on confidence – and afterwards on reassurance – that ZIRP will continue. But eventually they’ll focus on the start and pace of tightening. Fed-speak will assume an aura of bad news.”

Continue Reading at WolfStreet.com…

Russia Adds Another 300,000 Troy Ounces of Gold to Their Reserves in July

by Ed Steer
Ed Steer’s Gold & Silver Daily

Yesterday In Gold & Silver

The gold price flopped and chopped in a tight five dollar price range through all of Far East and London trading on Wednesday. But thirty minutes after the Comex close—and at precisely 2 p.m. EDT, the price got smacked for five bucks as the HFT boyz spun their algorithms. However, the gold price gained half that back by the 5:15 p.m. EDT electronic close.

The high and low ticks, such as they were, were reported by the CME Group as $1,299.30 and $1,288.70 in the December contract.

Gold closed in New York on Wednesday at $1,291.40 spot, down another $3.80 from Tuesday. Net volume was very light once again at around 76,000 contracts.

Continue Reading at CaseyResearch.com…

Goldman Warns Additional Chinese Stimulus Risks Global Financial Stability

from Zero Hedge

The soft July data have once again generated expectations of monetary easing from China. Goldman however thinks further monetary easing would have incrementally less of an impact and would come at the cost of financial stability. This diminishing impact, they argue, would result as overcapacity/oversupply restricts long-term borrowing demand and due to interest rate deregulation, which tends to move the long-term risk-free interest rate to a higher equilibrium, as seen in recent data. As the tradable sector continues to recover on the back of an improved global outlook, Goldman believes that a combination of sectoral policies aimed at easing financial stress and structural adjustment would be a better policy option. They do not expect broad macro easing or an interest rate cut in what remains of this year.

Continue Reading at ZeroHedge.com…

Japan PMI “Strongest Since March”: Does That Mean “Strong”?

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

The spin in media reporting, in both directions (but typically bullish), is pervasive.

Here is a case in point. Markit reports Japan PMI Points to Strongest Manufacturing Expansion Since March.

Does “strongest since March” mean “strong”?

Here are the Key Points:

Continue Reading at GlobalEconomicAnalysis.Blogspot.com…

How to Protect Your Retirement from the Next Big Crash

by Ken Moraif
Market Watch

The market has been setting all-time highs — it’s up almost 200% since the lows of March 2009. Over three-quarters, 77%, of companies reporting earnings beat estimates. We can look forward to the market rise that historically occurs after midterm elections.

I think we’re on track to see 18,000 on the Dow Jones Industrial Average.

While the market seems to be on a positive track, retirees should be concerned by how similar current circumstances are to what happened during the Great Depression. These similarities could be a harbinger of danger to their retirement plans.

Continue Reading at MarketWatch.com…

Keiser Report: Economy Crapification (E643)

from RT

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Doug Kass – The Final Page In An Age Of Innocence

from King World News

Today King World News is pleased to share with its global readers a fascinating piece from legendary hedge fund manager Doug Kass. In his piece, which was originally published on TheStreet, Kass shares his thoughts on the final page in an age of innocence and a long journey from Woodstock to Wall Street.

By Legendary Hedge Fund Manager Doug Kass

August 21 (King World News) – The Final Page In An Age Of Innocence

From Woodstock to Wall Street: What a long, strange trip it has been.

Continue Reading at KingWorldNews.com…

Six Myths About Money and Inflation

by Patrick Barron
Mises.org

The following are six of the most prevalent economic myths that appear time and again in the mainstream media. I will give a brief description of each and a brief description of the economic reality, as seen from an Austrian perspective.

Myth 1: Increased money leads to economic prosperity.

This Keynesian myth postulates that increasing aggregate demand through increasing the money supply will lead to more spending, higher employment, increased production, and a higher overall standard of living.

Continue Reading at Mises.org…

Charles Goyette & Chris Waltzek on GoldSeek Radio – August 21, 2014

by Chris Waltzek
GoldSeek Radio

Best-selling author and radio personality, Charles Goyette outlines how the end of the cold war was a crowning achievement of modern geopolitics / military strategy / economics. Nevertheless, tensions are once again flaring between the West with Russia, over the Ukraine border standoff threatening to culminate with perhaps a global military conflict. Currency troubles are brewing around the globe, in particular, Argentina is facing another default, a devastating blow to the economy for all but those who had the foresight to exchange their currency for gold and silver, both of which have subsequently skyrocketed in value.

Click Here to Listen to the Audio

Continue Reading at Radio.GoldSeek.com…