Chinese Economy Enters Contraction With First Sub-50 PMI Print Since October
For the first time since October 2012, HSBC’s China PMI (Flash) printed at a sub-50 level (49.6) missing expectations (50.4) quite notably. This is the worst two-month drop in 17 months. This is problematic for the PBoC who are being arbitraged left, right, and center and know that any stimulus will merely serve to exacerbate the problems they face (as we noted here [...]
Is the coming financial collapse going to be inflationary or deflationary? Are we headed for rampant inflation or crippling deflation? This is a subject that is hotly debated by economists all over the country. Some insist that the wild money printing that the Federal Reserve is doing combined with out of control government spending will eventually result in hyperinflation. Others point to all of the deflationary factors in our economy [...]
Markets Are On The Verge of Euphoria
This is what it looks like.
On its risk appetite index, Credit Suisse views the index value of 5 as “euphoria”. And we are headed there, as markets embrace risk.
Global Risk Appetite At 2006 Levels – Nears ‘Euphoria’
Global risk appetite surged to 4.53 (5 being ‘euphoria’), its highest level since the euphoria event of 2006, and up from 1.76 one month ago according to Credit Suisse. Other risk [...]
1) Michael Moore
2) Brian Williams
3) Fox. Must be first time in history they have admitted that SUN activity causes EARTH activity.
Boston News, Weather, Sports | FOX 25 | MyFoxBoston
Fed Pours Huge Sums Into Foreign Bank Coffers
We noted even before the TARP bailout law was signed into law that bailout moneys could flow to foreign banks.
We were right. A large percentage of the bailouts went to foreign banks (and see this). And so did ahuge portion of the money from quantitative easing. More here and here.
Ron Paul noted in 2011 that essentially 100% of New York Federal Reserve Bank loans went to foreign banks.
A former high-level Federal Reserve official said that the [...]
by Phoenix Capital Research
Just what is the Fed so scared of?
Today, the Fed’s favorite reporter, Jon Hilsenrath at the Wall Street Journal published an article completely refuting his own work from just two weeks ago.
If you’ll recall, two weeks ago, Hilsenrath wrote that the Fed was planning to taper its QE purchases before the end of the year.
Today, Hilsenrath wrote that when the Fed does taper its buying it won’t be “predictable.” [...]
Jim Rickards, Senior Managing Director at Tangent Capital, says the Bank of Japan’s monetary easing policy is so aggressive they are forcing other central banks to cut rates.
Jim Rogers: Yen’s ‘Collapse Very Dangerous’
The dollar hit a four-year high of 103.31 yen Friday, and legendary investor Jim Rogers, chairman of Rogers Holdings, doesn’t think that’s a good thing.
“The [yen], which is one of the major currencies of the world, has collapsed [...]
By Paul B. Farrell, MarketWatch
The “Dr. Boom” scenario: America is about to “unleash a spending spree. Years of self-denial give way to pent-up demand,” predicts UBS economist Maury Harris in USA Today’s bold lead story.
His clue? Consumer sentiment: “Harris estimates that in the next five years, catch-up consumption will boost annual consumer spending growth by a half point to above 3% from about 2%.”
Reassuring? No, wishful thinking. Be [...]
Just got this very reliable financial intel.
Get ready to short Japanese equities and expect another real-estate bubble burst.
Christine Hughes, President and Chief Investment Strategist, discusses details of Japan’s radical monetary policy.
the key part of the video, for ease of viewing:
The USDJPY has is trying to break the 103 barrier again after the BoJ meeting and Cabinet Secretary Suga commented the “BoJ should continue to steadily strive to reach inflation targets [...]
RIDE THE STOCK MARKET GRAVY TRAIN ALL THE WAY TO THE BANK.
New York Fed President William Dudley said Tuesday that it will take three to four months to know if the Federal Reserve will be in the position to decide on tapering its asset purchases adding that it is “too soon” to make that determination and depends on how the economic outlook evolves.
S&P 500 Projections – Goldman Sachs goes uber [...]
Well worth listening to.
Top 5 Places NOT To Be In A Dollar Collapse
All currencies﻿ have arbitrary fiat value.
Gold is just a commodity it’s no better than paper currency when it’s being used.
That’s one of many reasons we should abandon the proxy barter system and start switching over to a resource based economic scientifically designed to meet human needs and maximize creative freedoms. All money does is create a system of [...]
What is going to happen when the greatest economic bubble in the history of the world pops? Themainstream media never talks about that. They are much too busy covering the latest dogfights in Washington and what Justin Bieber has been up to. And most Americans seem to think that if the Dow keeps setting new all-time highs that everything must be okay. Sadly, that is not the case at all. [...]
Weather patterns are becoming increasingly erratic and the ground under our feet is becoming extremely unstable. So precisely what in the world is going on here? Is this the beginning of a trend? Could it be possible that we are entering the worst period for natural disasters in U.S. history? The tornado that just hit the town of Moore, Oklahoma is already being called one of the most destructive tornadoes [...]
WASHINGTON – A top IRS official in the division that reviews nonprofit groups will invoke the Fifth Amendment and refuse to answer questions before a House committee investigating the agency’s improper screening of conservative nonprofit groups.
Lois Lerner, the head of the exempt organizations division of the IRS, won’t answer questions about what she knew about the improper screening – or why she didn’t reveal it to Congress, according to a letter from her [...]
The Internal Revenue Service (IRS) demanded information about conservative groups’ college-aged interns, prompting outrage from one of the country’s top conservative activist organizations and leading one former intern to wonder whether his family’s pizza parlor would be endangered.
The IRS requested, in an audit, the names of the conservative Leadership Institute’s 2008 interns, as well as specific information about their internship work and where the interns were employed in 2012, according [...]
May 21st, 2013
It’s not a stretch to suggest that Americans are over medicated. In 2011 doctors across the nation wrote an astounding four billion medical prescriptions, amounting to an average of 13 prescriptions for every man, woman and child in the United States.
In the next few weeks the American Psychiatric Associations is releasing their updated fifth version their Diagnostic and Statistical Manual of Mental Disorders (DSM-5); the so-called ‘bible’ of [...]
Porter Stansberry: There is now a 100% chance of a market collapse
…Historically, looking at the two commodities, the average multiple of gas to oil was about 10x. That is, a barrel of oil was, on average, 10 times more expensive than one thousand cubic feet of gas. By last April, that premium had reached an all-time high of 55 times.
There was no way that kind of price relationship could have [...]
by Phoenix Capital Research
Two big events have occurred/ are occurring.
Charles Evans who is one of the biggest pushers for QE, stated that the Fed has “the appropriate monetary policy in place” and that the economy is “improving quite a lot.”
The Bank of Japan is beginning a two-day policy meeting today.
Regarding #1, Evans has been one of the biggest pushers for more QE. Throughout 2011 and 2012, every time he appeared on [...]
Video from a shelter as the tornado passes directly overhead
The EU reportedly has agreed with “overwhelming majority” that from 2016, savers must bleed event of bank failure. Deposits over 100000 euros are then gone. EU Law Committee: Cyprus was a model.
The Legal Affairs of the European Parliament has reportedly expressed yesterday evening with “overwhelming majority” for expropriating savings of about 100000 euros, if a bank goes bankrupt. An appropriate legislative proposal agreed to the Legal Affairs of the European Parliament. Balances below 100000 [...]
DAY 1 CONVECTIVE OUTLOOK
NWS STORM PREDICTION CENTER NORMAN OK
1259 AM CDT TUE MAY 21 2013
VALID 211200Z – 221200Z
…THERE IS A MDT RISK OF SVR TSTMS ACROSS PARTS OF SW AR…SE
OK…NW LA…CNTRL TX AND NE TX…
…THERE IS A SLGT RISK OF SVR TSTMS ACROSS PARTS OF THE SRN
PLAINS…OZARKS…MID MS VALLEY…OH VALLEY AND GREAT LAKES…
…SRN PLAINS/ARKLATEX/MID-MS VALLEY…
AN UPPER-LEVEL TROUGH WILL MOVE EWD FROM THE SRN ROCKIES INTO THE
SRN PLAINS TODAY. AT THE [...]
Today’s AM fix was USD 1,378.75, EUR 1,070.21 and GBP 908.39 per ounce.
Yesterday’s AM fix was USD 1,353.75, EUR 1,051.95 and GBP 890.86 per ounce.
Gold climbed $19.40 or 1.43% yesterday to $1,384.30/oz and silver finished 2% higher.
Silver’s recovery yesterday from being 10% lower at one stage to recouping these losses and then rising over 2% was very positive technically. The key reversal is leading some to postulate that we [...]
Bill Black: Weakness of financial regulators shows you can not “tame the scorpion”.
5 commercial mega-banks continue to trade roughly $300 trillion in unregulated derivatives. In other words unregulated derivatives are 32 times total U.S. deposits and 11,900 times the FDIC’s paltry $25 billion insurance fund.
Senate investigators: APPLE avoided $44 billion in taxes
Senate investigators accuse Apple of wiring together a complicated system to shield billions of dollars in international profits from both U.S. and foreign tax collectors.
A report released ahead of Apple CEO Tim Cook’s inaugural Capitol Hill appearance Tuesday alleges the tech giant took advantage of numerous U.S. tax loopholes and avoided U.S. taxes on $44 billion in offshore, taxable income between 2009 and [...]
http://usawatchdog.com/bank-run-happe… Jim Willie of GoldenJackass.com says, “Before, they were talking about stress tests. Now, they realize that all of them in the past were a fraud. So, they are talking about ‘bail-ins’ because they are expecting failures.” Dr. Willie contends, “It’s all coming to a climax where gold is going to be central with a gold-trade central bank and gold priced at $7,000 per ounce.” Join Greg Hunter as he goes [...]
Goldman Is Selling The Last Of Its Stake In A Chinese Bank, And Communist Officials Are Probably Pretty Annoyed
Goldman Sachs bought a stake in the Industrial and Commercial Bank of China before it was cool — before it had the 2nd largest IPO in the history of the world in 2006, and before it was the largest bank in the world by market cap.
Initially, Goldman owned 4.9% of the bank, whose stock is [...]
The chief judge of the District’s federal court issued an unusual order Wednesday, apologizing to the public and the media for not making certain court documents widely available online.
The gesture of transparency by U.S. District Judge Royce C. Lamberth comes at a time when the Obama administration is under scrutiny for an unprecedented number of leak investigations, including one showing that the Justice Department had secretly probed the news-gathering activities of Fox [...]
The audience erupted today after Rep. Trey Gowdy (R-SC) went off on IRS official Lois Lerner today. Lerner, the director of the IRS division that singled out hundreds of conservative groups, delivered an opening statement today on how proud she was of her work and then pleaded the Fifth Amendment and clammed up. Gowdy didn’t like this much.
With Greece suffering the biggest economic depression in decades, all so a few rich men can preserve their wealth and not have their EUR-denominated savings wiped out (even if the alternative means finally being able to rebalance externally using the Drachma instead of forcing internal rebalancing via unemployment and plunging wages), it was only a matter of time before we found out just how humiliating the conversion of the entire [...]
from The Daily Bell:
Derivatives Reform on the Ropes … New rules to regulate derivatives, adopted last week by the Commodity Futures Trading Commission, are a victory for Wall Street and a setback for financial reform. They may also signal worse things to come … The regulations, required under the Dodd-Frank reform law, are intended to impose transparency and competition on the notoriously opaque multitrillion-dollar market for derivatives, which is dominated by [...]
Print money. Create wealth effect in stocks & housing. Happy days. #Bernanke waited 4 yrs for this. Now he owns the crash. But he’s leaving.
Two men repeatedly stab and try to behead off-duty soldier in SE London
During attack they shouted ‘Allah Akbar’ and told witnesses to film them
Charged at police officers with rusty revolver, knives and meat cleavers
Killing took place 200 yards from barracks and close to primary school
Both men placed under arrest after being treated for gunshot wounds
PM: Killing is ‘sickening’ and Britain will ‘never buckle’ in face of terror
Clutching a bloodied meat [...]
Russian Market‏@russian_market1 min
SPANISH BANKS NEED MORE CAPITAL – RAJOY ( Welcome back to crisis!)
RAJOY DOES NOT RULE OUT PROSPECT THAT SPANISH BANKS WILL REQUIRE MORE MONEY
RAJOY SAYS IF SPANISH BANKS NEED CAPITAL, WON’T COME FROM EU
Spain economy, imports tell the full story:
Spain banks may need to raise money to meet provisions: Rajoy
Rajoy Needs to Stand Up to Spain’s Banks
There are two schools of thought about the government [...]
A soldier was apparently beheaded and hacked at with a meat cleaver by two attackers, who were then shot by armed police near the Woolwich Barracks. The young victim, wearing a Help for Heroes T-shirt, was attacked “like a piece of meat” and dumped in the street, according to witness reports.
Whitehall sources say it is “a fair supposition” that the incident was a terrorist incident, according to reports from the [...]
Against all probability, a device that purports to use cold fusion to generate vast amounts of power has been verified by a panel of independent scientists. The research paper, which hasn’t yet undergone peer review, seems to confirm both the existence of cold fusion, and its potency: The cold fusion device being tested has roughly 10,000 times the energy density and 1,000 times the power density of gasoline. Even allowing for [...]
House Oversight and Government Reform Committee Chairman Darrell Issa said embattled IRS official Lois Lerner waived her Fifth Amendment rights and will be hauled back to appear before his panel again.
The California Republican said Lerner’s Fifth Amendment right to avoid self-incrimination was voided when she gave an opening statement this morning denying any wrongdoing and professing pride in her government service.
“When I asked her her questions from the very beginning, [...]
WASHINGTON — One day before President Obama is due to deliver a major speech on national security, his administration on Wednesday formally acknowledged that the United States had killed four American citizens in drone strikes in Yemen and Pakistan.
In a letter to Congressional leadersobtained by The New York Times, Attorney General Eric H. Holder Jr. disclosed that the administration had deliberately killed Anwar al-Awlaki, a radical Muslim cleric who was [...]
IRS Hasn’t Reprimanded a Single Staffer For Targeting Pro-Life Groups
Washington, DC — Americans believe the targeting of pro-life groups and conservatives by the International Revenue service was a deliberate act. However, the agency hasn’t officially reprimanded a single staffer over it.
Syrianews managed to confirm the news we received a couple of days ago that a Syrian Navy boat destroyed an Israeli submarine off the Syrian coast at 150 meters depth on 02 May 2013 around 2 – 2:30 am. We were not told the type or size of the submarine but we were confirmed it was destroyed.
In the details we managed to get: the enemy object was detected and orders [...]
A devastating tornado struck Moore, Oklahoma just after 20:00 UTC or 3:00 PM local time on 20 May 2013, causing extensive (EF4 to EF5) damage and at least 24 fatalities.
McIDAS images of GOES-15 (GOES-West) and GOES-13 (GOES-East) 0.63 µm visible channel data showed the line of rapidly-developing thunderstorms over southern and central Oklahoma during the early afternoon hours — Moore is located about halfway between Oklahoma City (OKC) and Norman [...]
Nigel Farage, the leader of the UK Independence Party, has said he would not expel members for voicing “old-fashioned” views about homosexuality, including those who describe it as “disgusting”. He was responding to reports of a Ukip online forum in which one of the party’s candidates allegedly used the word to describe gay sex and said that homosexuals were not “normal”.
Mr Farage told BBC Radio 2′s Jeremy Vine Show: “That [...]
Obama and his closest aides have been exposed. Not just as a cabal of lying, preening, and corrupt politicos, but an administration so wedded to authoritarian progressive doctrine they will hammer at the load-bearing walls of liberty in pursuit of their statist agenda.
This is because the Obama administration’s vision of America is inherently in conflict with the Bill of Rights. Recent scandals are merely the latest skirmish in this ongoing [...]
WASHINGTON (MarketWatch) – While there was no consensus among Federal Reserve officials on when the central bank could begin to slow down asset purchases, a “number” of central bank officials were willing to taper as soon as their next meeting in June, according to the minutes of their April 30-May 1 meeting released Wednesday. On the other hand, a “couple” of Fed officials said the Fed might have to ease [...]
One of the mainstream media journalists whose pursuit of the truth has been truly tenacious and nonpartisan is CBS News’ Sharyl Attkisson. Her tough reporting has made life difficult for everyone from Hillary Clinton to the Bush administration and Congressional Republicans. She’s also been relentless on the Obama administration’s Fast & Furious gun-running scandal — and, of course, Benghazi. As we mentioned this week, Attkisson’s tough investigative journalism is starting to bother unnamed CBS News [...]
Major Earthquake watch! Solar Flare Watch! Geomagnetic storm Warning! Meteor Watch! WW3 Watch! False Flag Watch For US! Martial Law Watch For US! Stay Safe and May God Bless!!
17-May-2013 Clif High Wujo, Global Coastal Event, Quavers, Earthquakes,
4 Meteors in less then 24 hours not including the meteorite that has hit Mexico last night!!
Loud Boom Was A Fireball?? Solar Instability? GCE Imminent?
Asteroid 2013 KB NEW!!!!
SoHO Shot’s current
Airport Webcams Denver!
Air Force Commander Major General Amir Eshel said that S-300 advanced missile defense system will soon make it to the hands of the Syrian army. “Assad, with his low budget has invested billions into purchasing antiaircraft missiles.”
Lebanese media reported that Israeli warplanes are practicing simulated attack operations in southern Lebanon
Syrian opposition urges rebels to join key battle
Kerry: Thousands of Hezbollah fighters in Syria
German intelligence agency says Assad’s forces more organized [...]
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter
The issue of inflation is complex everywhere. Official rates are disputed. People can’t reconcile them with what they see at the store. There are different formulas and data sets, resulting in different rates, and everyone picks and chooses what suits their needs. But nowhere is the issue as “complex,” infested with lies, and shrouded in obscurity as in Argentina.
The debacle took on hilarious overtones when a Greek reporter, in [...]
(CNSNews.com) – What did the White House know about the IRS targeting conservative groups and when did it know it?
Crucial evidence needed to develop an accurate answer to that question would include the records of any communications that went back and forth between the IRS and the White House on the topic.
In a May 14 letter signed by Chairman Dave Camp and Ranking Member Sander Levin, the House Ways and Means Committee [...]
Dana El Baltaji
May 22, 2013
Communities inhabited by Shiite Muslims and President Bashar al-Assad’s Alawite minority will be “wiped off the map” if the strategic city of Al-Qusair in central Syria falls to government troops, rebel forces said.
“We don’t want this to happen, but it will be a reality imposed on everyone,” Colonel Abdel-Hamid Zakaria, a spokesman for the Free Syrian Army in Turkey, told Al-Arabiya television yesterday. “It’s going to [...]