Market Report: PMs Sold Down

by Alasdair MacLeod
Gold Money

Gold and silver were sharply down this week, with gold off $23 at $1297 from last Friday’s close in early European trade early this morning (Friday), and silver off 56 cents at $17.03 on the same time scale. As can be inferred from our introductory chart, this extends the losses for both precious metals since their peaks on 7th September.

Gold and silver had become overbought, as discussed in previous market reports, so a reaction was only to be expected. However, the falls so far do not appear to have changed the overbought condition much, particularly in the case of gold, illustrated in our next chart of open interest on Comex.

Continue Reading at…

Newt: Frightened About the Future of Freedom

from The Still Report

Video Description…

In the Murk

by James Howard Kunstler

Puerto Rico, You lovely island, Island of tropical breezes…. — West Side Story

Welcome to America’s first experiment in the World Made By Hand lifestyle. Where else is it going? Watch closely.

Ricardo Ramos, the director of the beleaguered, government-owned Puerto Rico Electric Power Authority, told CNN Thursday that the island’s power infrastructure had been basically “destroyed” and will take months to come back

“Basically destroyed.” That’s about as basic as it gets civilization-wise.

Continue Reading at…

The Death of Online Advertising

from Stefan Molyneux

Video Description…

These Homes Are Still Worth Less Than They Were in 2007

The national median home value masks the struggles in many other markets

by Jacob Passy
Market Watch

Median home prices may be reaching new highs in some parts of the country, but those figures are hiding the struggles facing owners of the least-valuable homes.

The share of homes nationwide now worth more than they were prior to the Great Recession rose to 52.6% in August, according to data released Thursday by real-estate website Zillow. And in some markets, including Denver, Dallas and Nashville, more than 97% of all properties have met or surpassed their pre-recession peak values.

However, 47% of homes in this tier have reached or exceeded their previous highs. And the imbalance between these bottom-third homes and more expensive properties can be fairly stark.

Continue Reading at…

The Latest Updates from Martin Armstrong – 2017.09.22

by Martin Armstrong
Armstrong Economics

Spanish Stock Market Reflects The Bearish Outlook for Spain

Spain Showing the World It is Still A Fascist Government – Sell Spanish Debt

Dow High or Low

Climate Change on the Horizon

Central Banks Investing in Equities

Spain Invades Barcelona & EU Shows Its Fascist Character

Continue Reading at…

Catalonia President: “We Will Vote on Independence Whether Spain Likes it or Not”

by Mike ‘Mish’ Shedlock
Mish Talk

Thousands have gathered at the gates of Catalonia’s judiciary body to demand the release of a dozen officials arrested in connection with an upcoming vote on independence.

And a defiant Catalonia president wrote a nice op-ed in the Washington Post today: Sorry, Spain. Catalonia is voting on independence whether you like it or not.

[…] Carles Puigdemont is the 130th president of Catalonia.

What follows is Puigdemont’s message in the Washington Post

After three centuries under Spanish rule, on Oct. 1, citizens of Catalonia will finally have the chance to exercise their right to self-determination. More than 5 million eligible voters will have the right to decide on a simple question: “Do you want Catalonia to become an independent state in the form of a republic?”

Continue Reading at…

“This is Embarrassing”: Two People Show Up For iPhone 8 Launch in China

from Zero Hedge

Confirming reports that reception for Apple’s newly launched iPhone 8 may be “underwhelming” to put it lightly, as the phone provides little if any material improvement over its lower-priced predecessor even as sales for hardcore fans will be cannibalized by the iPhone X, is the following report from Hangzhou, China which shows that all of 2 people were waiting in line for the latest gizmo from Tim Cook.

Continue Reading at…

Gold Should Be At $2,000 or Higher But It’s Not… Here’s Why.

from Kitco NEWS

Video Description…

Pakistan: Muslims Beat and Rape Christian Boy, Police Side with Perpetrators

by Robert Spencer
Jihad Watch

“Victim’s father approached local police and informed them about the incident; however police seems reluctant to take action against the alleged assaulters.”

This is because the police are Muslims themselves, and have scant sympathy for Christians who are victimized and brutalized; they may also want to avoid having an angry Muslim mob show up at the police station.

“Christian boy sexually assaulted, police taking sides with guilty party,” by Madeeha Bakhsh, Christians In Pakistan, September 20, 2017:

A Christian boy allegedly sexually assaulted by a gang of seven men. Sher Dil resident of Attock claims that the alleged assaulters drove him to an isolated place and beat him violently afterwards subjected him to gang rape. Victim’s father approached local police and informed them about the incident; however police seems reluctant to take action against the alleged assaulters.

Continue Reading at…

Fed QT Stocks, Gold Impact

by Adam Hamilton
Zeal LLC

This week’s landmark Federal Open Market Committee decision to launch quantitative tightening is one of the most-important and most-consequential actions in the Federal Reserve’s entire 104-year history. QT changes everything for world financial markets levitated by years of quantitative easing. The advent of the QT era has enormous implications for stock markets and gold that all investors need to understand.

This week’s FOMC decision to birth QT in early October certainly wasn’t a surprise. To the Fed’s credit, this unprecedented paradigm shift had been well-telegraphed. Back at its mid-June meeting, the FOMC warned “The Committee currently expects to begin implementing a balance sheet normalization program this year”. Its usual FOMC statement was accompanied by an addendum explaining how QT would likely unfold.

Continue Reading at…

The Mining Sector is on the Verge of a Major Breakout

from Kitco NEWS

Video Description…

There’s a Bubble in New York City Taxi Medallions

by Doug French

It’s as old as time: taking on debt to fund a sure thing. Be it houses, stocks, cryptocurrencies, tulip bulbs or taxi medallions. Winnie Hu tells the current tale of woe brilliantly for The New York Times. Big city taxi medallions were once considered to be good as gold. Ms. Hu writes,

Sohan Gill once saw his medallion as such a good investment — “better than a house” — that his wife bought two more in 2001. Now they cannot find enough drivers for the cabs because business is so bad. And Mr. Gill, 63, who had retired from driving, had to go back on the road. “How many more years am I going to drive to take care of these medallions?” he asked.

That sounds so much like Las Vegas 2005. Why own one house? Buy two more. Now retirement is put on hold.

A full blown medallion crash is unraveling in New York City as Ms. Hu explains.

Continue Reading at…