The following three minutes of absolute perfection uttered by CNBC’s Rick Santelli is dangerous for anyone living in Kyle Bass’ “intellectually dishonest” alter-world of denial and “unicorns and rainbows” as the Chicagoan goes off on the ignorance of everyone in these so-called markets. When every talking head is bullish and the world is going so great that we should all “buy stocks,” Santelli demands we ask Bernanke – “what are [...]
BOB JANJUAH: Ben Bernanke Is Scared
He will be forced to taper.
Nomura’s bear Bob Janjuah believes the “why” is fear.
From his note last week:
So for me, ‘tapering’ is going to happen. It will be gentle, it will be well telegraphed, and the key will be to avoid a major shock to the real economy. But the Fed is NOT going to taper because the economy is too strong or because we have [...]
Moderate earthquake – Coquimbo, Chile on June 19, 2013
Magnitude : 4.1
Local Time (conversion only below land) : 2013-06-19 09:48:37
GMT/UTC Time : 2013-06-19 13:48:37
Depth (Hypocenter) : 50 km
Minor earthquake – France on June 19, 2013
Magnitude : 3
Local Time (conversion only below land) : 2013-06-19 16:04:34
GMT/UTC Time : 2013-06-19 14:04:34
Depth (Hypocenter) : 15 km
Moderate earthquake – Lumsden on June 19, 2013
Magnitude : 4.6
Local Time (conversion only below land) : 2013-06-20 02:10:24
GMT/UTC Time : 2013-06-19 14:10:24
Depth (Hypocenter) : 200 km
Minor earthquake – Puerto Rico Region [...]
Conservative activists are planning to storm Capitol Hill on Wednesday for what they are predicting will be “the largest Tea Party protest since 2010.”
The protest — drawing tea partiers like TV host Glenn Beck and Kentucky Sen. Rand Paul — is in response to the Internal Revenue Service’s recent admission that it has been specifically targeting conservative groups for extra scrutiny.
The gathering on the West Lawn of the Capitol is [...]
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter
Fed Chairman Ben Bernanke and his ilk refuse to see the connection. They’re too busy ogling inflation in the US that is suspiciously low. But China has its eyes riveted on the revolt in Brazil. Like all revolts, it’s about deep-seated issues and inequalities, but the spark that lit it – after price and asset inflation had made life too expensive for the middle class [...]
Colorado’s Black Forest fire crews focus on clean up; cost to fight fire hits $8.5 million
509 homes lost in Colorado’s Black Forest Fire; 28 partially damaged; fire remains at 85% containment - @CBSDenver
Colorado wildfire destroys more than 500 homes, new blazes menace West http://reut.rs/1bTw5wx
Colorado wildfire snuffs over 500 homes; California fire a threat http://reut.rs/10v39eo
Wildfire task force considering tougher limits for homeowners in burn zones http://huff.to/19N72i8
TRC Affiliate chaser, Eric Duncan, Streaming live [...]
PBoC refused to inject liquidity into the market
Short-term interbank lending rates surged 200 basis points to an all-time high of almost 8% on Wednesday after the PBoC refused to inject liquidity into the market. “The only explanation is that the central bank wants to send a warning signal to commercial banks and other credit issuers that unchecked credit expansion, particularly through the shadow banking system, will not be accommodated,” says CNC Asset [...]
Kyle Bass covers three critical topics in this excellent in-depth interview before turning to a very wide-ranging and interesting Q&A session.
The topics he focuses on are Central bank expansion (with a mind-numbing array of awe-full numbers to explain just where the $10 trillion of freshly created money has gone), Japan’s near-term outlook (“the next 18 months in Japan will redefine the economic orthodoxy of the West”), and most importantly since, [...]
Today’s AM fix was USD 1,366.00, EUR 1,019.86 and GBP 874.91 per ounce.
Yesterday’s AM fix was USD 1,378.50, EUR 1,030.35 and GBP 880.32 per ounce.
Gold fell $16.60 or 1.2% yesterday and closed at $1,367.10/oz. Silver finished down 1.01%.
Gold’s weakness continues and gold is now near the lowest level in four weeks, as a liquidity driven rally in stocks and investor caution over the Federal Reserve’s monetary policy is contributing [...]
by Phoenix Capital Research
The Fed will announce its moves today at 2PM.
There’s really no telling what will happen. The markets have become truly schizophrenic. For instance, stocks continue to rally as though more QE is coming.
However, Gold, which has lead stocks into every major Fed program, continues to fall…
Moreover, Treasuries continue to fall, which indicates that less bond buying is coming…
In simple terms, the markets are all over the place. Some [...]
http://usawatchdog.com/robert-wiedeme… - In his latest book, “The Aftershock Investor,” Bob Wiedemer says to get out of stocks and bonds. He predicts, “Between now and 2014, I think you’re going to fall out of bed. . . . Stock investors could take a very big hit—well over 50%.” Wiedemer calls gold “the once and future king” and goes on to predict “gold will go to $6,000 to $7,000 per ounce.” Join Greg [...]
Federal Reserve Chairman Ben Bernanke is on the way out the door, but the consequences of the bond bubble that he has helped to create will stay with us for a very, very long time. During Bernanke’s tenure, interest rates on U.S. Treasuries have fallen to record lows. This has enabled the U.S. government to pile up an extraordinary amount of debt. During his tenure we have also seen mortgage [...]
When a central bank like the Federal Reserve turns itself into a hedge fund, you know the lunatics have fully taken over the asylum. leverage is leveraged again. madness is the meme.
The Greenspan put has been around at least since 1998 when LTCM was so conveniently bailed out by the Reverend ” free money ” Al. Bernanke has continued the tradition.
The result has been a set of incredible bubbles around [...]
June 18th, 2013
(Passenger Daniel Perry is escorted off of a United Flight originating in Hong Kong.
Is he a national intelligence asset?)
To add further drama and confusion to the story of Edward Snowden, NSA Spying and Central Intelligence Agency involvement, a passenger on a U.S. bound flight out of Hong Kong Monday claimed that intelligence agents had detained him, were going to kidnap him, take him to a safe house, [...]
The luckiest man in America: Factory worker wins the lottery TWICE in 24 hours after winning $200,000 on a scratchcard as he went to collect his $55,000 windfall
Winning $55,000 on the lottery would be enough for most people.
But within 24 hours, Cary Collings bought another scratchcard on the way to cashing in his ticket – and won another $200,000.
The 61-year-old can count himself among the luckiest men in America after [...]
Egypt appoints member of terror group that once massacred tourists to run tourism region
It was only 16 years ago, in 1997, that members of an Egyptian militant group called Gamaa Islamiya stormed the ancient Temple of Hatshepsut in Luxor, a tourism magnet, and massacred 62 tourists before killing themselves, part of their insurgent campaign against the government. This week, Egyptian President Mohamed Morsi swore in Adel Mohamed al-Khayat, a former [...]
Work on Guangzhou Metro Line 6 destroys five ancient tombs
Guangzhou Metro is facing a public outcry after contractors destroyed a group of ancient imperial tombs in the Menggang district during construction of Line 6 of its subway system.
The tombs, ranging from 2,200 to more than 3,000 years old and still being studied by archaeologists, were wrecked by excavators on Friday night.
The protected site, on the eastern slope of Da Gong [...]
All eyes are on the release of the Federal Reserve’s monetary policy statement from its latest FOMC meeting at 2 PM ET and Fed Chairman Ben Bernanke’s subsequent press conference and Q&A, which begins at 2:30.
That Cheap Stuff You Buy At Wal-Mart? It Cost $6,000 More Than You Thought.
According to a Congressional study, $6,000 is the average amount taxpayers are being dinged per employee.
Walmart’s wages and benefits are so low, it forces workers to go on Medicaid and receive housing assistance, childcare subsidies, food stamps, and more.
Yes, it’s totally insane, but it’s true.
Just who owns Wal-Mart?
96% of the stuff you buy at Wal-Mart is Made [...]
After a big sell-off in the bond market following the last time Federal Reserve Chairman Ben Bernanke made a public appearance (at his testimony before the Joint Economic Committee of Congress on May 22), most expect today’s FOMC monetary policy statement to strike a dovish tone and attempt to pare back some of the volatility that has appeared in financial markets.
The big concern, of course, is that the Federal Reserve will begin [...]
Conspiracy Confirmed! TWA Flight 800 Whistleblowers Speak Out – NTSB Told Them To Lie
We learn tonight that the crash of TWA Flight 800 off of the coast of New York back in 1996 was much more than we had been previously told as whistleblowers have come out stating that the NTSB told them to lie by placing gag orders on this entire episode of American history in another US government [...]
“Does the FBI use drones for surveillance on US soil?” Sen. Chuck Grassley (R-Iowa) asked Mr. Mueller during an oversight hearing on Capitol Hill Wednesday before the Senate Judiciary Committee.
“Yes,” Mueller responded bluntly, adding that the FBI’s operation of drones is “very seldom.”
FBI director tells Senate the bureau uses drones inside the US but rarely – @KellyO
FBI Agents Have Fatally Shot 70 ‘Subjects’ In The Past 20 Years And Deemed Every Single Incident Justified
A month after the shooting death of Ibragim Todashev during an FBI interrogation about his connection to the Boston bombing suspects, we still don’t have a clear narrative of what happened.
Todashev was shot multiple times during an interrogation in his Orlando home, and there are many conflicting reports about what brought on the [...]
Activists targeting China dog meat festival
A festival dedicated to dog meat in southern China has been targeted by protesting animal lovers, who have won a minor concession from local officials, an activist said on Wednesday.
The annual festival, scheduled to take place on Friday in Guangxi province, sees dogs packed into cages before being killed, skinned and cooked — but has met with increasing opposition from activists, highlighting China’s growing animal [...]
4.7 earthquake, 31km WNW of Ainaro, East Timor.
2013-06-19 12:40:56 UTC
2013-06-19 21:40:56 UTC+09:00 at epicenter
2013-06-19 08:40:56 UTC-04:00 system time
8.854°S 125.255°E depth=28.2km (17.5mi)
31km (19mi) WNW of Ainaro, East Timor
47km (29mi) SW of Dili, East Timor
48km (30mi) NE of Atambua, Indonesia
107km (66mi) NE of Kefamenanu, Indonesia
154km (96mi) NE of Soe, Indonesia
Kim Dotcom has accused the US government and Leaseweb, one of the hosting providers of former file-sharing site Megaupload, of deleting millions of personal files “without warning.”
#Leaseweb has NOT warned us about deleting #Megaupload servers. They informed us TODAY that servers were deleted on February 1st, 2013.
Our lawyers have repeatedly asked #Leaseweb not to delete #Megaupload servers while court proceedings are pending in the U.S.
#Leaseweb has simply ignored the rights [...]
U.S. Mint Sales of Silver Coins Reach Record in 2013 First Half
CME is catering for the demand by introducing a 1,000 ounce physical silver futures contract “due to demand from customers”.
“The smaller size will provide market participants with greater flexibility to manage their silver price risk, and serve as a more cost-effective tool for individual investors or others looking to hedge against economic uncertainty.”
The CME said it is deliverable against [...]
Intelligence, military and politics have become industries, a way for rich people through their corporations to plunder the population and control the world.
While supporters of the Senate immigration bill tout a new analysis that shows the legislation would boost the economy and trim the deficit, critics are seizing on another, less rosy stat — the average American wage would drop, and not recover for more than a decade.
The analysis from the Congressional Budget Office projected that, if the Senate bill passes, the influx of new immigrants would have the effect of slightly [...]
Several former Bank of America employees filed declarations in a federal court last week claiming the mortgage lender told them to lie to customers seeking loan modifications.
Bank of America BAC -0.34% fired back, essentially calling them the liars. “Each of the declarations is rife with factual inaccuracies,” the bank responded in a statement emailed to media.
Bank of America also attacked the credibility of the lawyers who gathered these declarations as [...]
A Woman Virtually Nobody Has Heard Of Is On The Verge Of Becoming The Most Powerful Woman In The World
t’s looking increasingly likely that Ben Bernanke will no longer be the Chairman of the Federal Reserve at this time next year.
In an interview Monday, President Obama said Bernanke has “already stayed a lot longer than he wanted or he was supposed to.”
When asked about his intentions regarding plans for the [...]
When Regal Entertainment Group (RGC) in April blamed ObamaCare for the fact that it was cutting some of its workers’ hours, backers of the law mounted a furious backlash against the theater chain, among other things filling its Facebook page with boycott threats.
“Greed and selfishness make me sick,” one of them said.
Darden Restaurants (DRI) felt this intense heat last year after suggesting it might shift to more part-time work to minimize the cost of [...]
McalvanyFinancial, Published on Jun 19, 2013
-Emerging markets triggering next global recession
-Trade surplus countries are Inflation Factories
-Gold charts firming, FED dictates short course
65 Week Moving Average Chart:http://www.mcalvanyica.com/market-rep…
The Fuse is Lit Part III:
Don McAlvany, The Great Gold Robbery:http://www.youtube.com/watch?v=Z7MwaN…
House passes late-term abortion ban
The House voted Tuesday to impose a nationwide ban on abortions after 22 weeks of pregnancy over Democratic objections that the bill represents a dramatic attempt by Republicans to restrict abortion rights.
As expected, the vote fell out mostly along party lines in a 228-196 vote — just six Democrats voted for it, and six Republicans opposed it.
Democrats voting for the bill were Reps. Henry Cuellar (Texas), Dan [...]
This morning, the S&P 500 Index e-mini futures (ES-M3) are trading lower by 0.50 points to 1644.50 per contract. Almost every trader and investors is eagerly waiting to hear from Ben Bernanke today. The two day FOMC meeting will conclude at 2pm EST. This is when the central bank will release its interest rate policy statement for the United States. Currently, the fed funds rate (overnight lending rate to the [...]
How you will live under globalism, when there are no alternatives allowed to you. Music by Claire K. Rivero. Video by Michael Rivero.
Nomura’s bear Bob Janjuah believes the “why” is fear.
From his note last week:
So for me, ‘tapering’ is going to happen. It will be gentle, it will be well telegraphed, and the key will be to avoid a major shock to the real economy. But the Fed is NOT going to taper because the economy is too strong or because we have sustained core (wage) inflation, or because we have full employment [...]