By Paul B. Farrell, MarketWatch
SAN LUIS OBISPO, Calif. (MarketWatch) — Yes, “Doomsday poll: 98% risk of 2014 stock crash” was my midyear headline. And yes, it still fits. Why? Because in the new year, after the irrational exuberance of the “Christmas rally” passes, reality will set in.
Remember the dark warnings from last January through the fall? Fed even saw an “unsustainable bubble” … Bill Gross: “Credit Supernova” … [...]
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter
On Sunday, New York-based discount retailer Loehmann’s with 39 stores did what certain other retailers – and a large number of other junk-rated companies – will do once the Fed allows a sense of reality into the markets: it ran out of money and filed for Chapter 11 bankruptcy protection.
Third time’s the charm. It had filed for bankruptcy twice before: in 1999 and in 2011. Maybe this time, it [...]
Today’s AM fix was USD 1,233.25, EUR 896.97 and GBP 754.05 per ounce.
Yesterday’s AM fix was USD 1,237.25, EUR 898.71 and GBP 759.42 per ounce.
Gold fell $10 or 0.81% yesterday, closing at $1,230.70/oz. Silver slipped $0.06 or 0.3% closing at $19.90/oz. Platinum dropped $13.51, or 1%, to $1,348.75/oz and palladium fell $14.78 or 2.1%, to $701.52/oz.
Gold (Black) and the Federal Reserve Balance Sheet (Red) – October 2008 to [...]
http://usawatchdog.com/2014-going-to-… - David Morgan of Silver-Investor.com says, “The financial system on a global economic scale is in a place that has never ever been established before. So, it is very difficult to forecast how it will unravel.” But, unravel it will. That’s why Morgan says, “This is why I am such an advocate of hard money, gold and physical silver. You want to be early. You don’t want to be late.” [...]
32-year NSA Veteran Who Created Mass Surveillance System Says Government Use of Data Gathered Through Spying “Is a Totalitarian Process”
Bill Binney is the high-level NSA executive who created the agency’s mass surveillance program for digital information. A 32-year NSA veteran widely regarded as a “legend” within the agency, Binney was the senior technical director within the agency and managed thousands of NSA employees.
Binney has been interviewed by virtually all of the mainstream [...]
Snowden Gives the Big Picture
Edward Snowden wrote yesterday about mass surveillance by the NSA:
These programs were never about terrorism: they’re about economic spying, social control, and diplomatic manipulation. They’re about power.
These Programs Were Never About Terrorism
The NSA started mass spying on Americans before 9/11 … and various excuses have been used over the years.
The NSA was already spying on American Senators and prominent Americans who spoke out against the Vietnam War more than 40 years ago.
The NSA has [...]
Just passing along an interesting data point here from Ned Davis (via Barrons):
Barron’s: You’ve warned that a correction is near. Why?
Davis: Right now, about 78% of industry groups are in healthy uptrends. That would have to fall to about 60% for us to say the market had lost upside momentum.
We also focus on the Federal Reserve, and it’s still in a very easy mode, despite all the talk about tapering.
So, those [...]
Reports of erroneous WA health exchange debits
The government will have real-time access to an individual’s bank account and will have the authority to make electronic fund transfers from those accounts.”
the Washington Healthplanfinder website is down, and it’s causing problems for people who are dealing with billing issues. Some of them say the website is mistakenly debiting their accounts.
Feds spend tax dollars collecting human urine…
The Pentagon spent more than $300 million on a battlefield blimp that didn’t work, finally canceling the project earlier this year at a near-total loss of the taxpayer money invested in the project, according to Sen. Tom Coburn’s latest report on government waste.
The 2013 installment of Mr. Coburn’s Wastebook suggests that despite recent belt-tightening, the administration has still found new ways to squander money:
• $15,000 to collect thousands [...]
by Charles Hugh-Smith
Neofeudal financialization and unproductive State/corporate vested interests have bled the middle class dry, yet we accept the officially sanctioned narratives. Why?
Let’s cut to the chase and generalize “what’s fake”: everything that is officially sanctioned: narratives, policies, statistics, you name it–all fake– massaged, packaged, gamed or manipulated to serve the interests of the ruling Elites.
Anything that might introduce a shadow of skepticism or doubt about the sustainability, fairness and transparency of [...]
When the Federal Reserve announces its next move on Wednesday, some expect it to reduce its $85 billion monthly bond-buying program, targeting an eventual end to quantitative easing in late 2014. Others expect the Fed to begin to reduce the program in early 2014, or to finish it off by 2015. But Marc Faber has a different take altogether .
“The Fed will never end QE for good…” blasts Marc Faber, “they [...]
Obama: Worst approval ratings since Nixon
President Barack Obama is ending his fifth year in office with the lowest approval ratings at this point in the presidency since President Richard Nixon, according to a new Washington Post/ABC poll released Tuesday.
Obama’s approval rating in the poll stands at 43%. By comparison, President George W. Bush had a 47% approval rating at the end of the fifth year of his presidency. And all other [...]
More: http://www.hiddensecretsofmoney.com This is a bonus scene from Episode 5 of Mike Maloney’s ‘Hidden Secrets Of Money’. Does Mike have the skills required to apply for a job at the Fed? Watch the video to find out. Check out the full episode here:http://www.hiddensecretsofmoney.com
Today’s AM fix was USD 1,237.25, EUR 898.71 and GBP 759.42 per ounce.
Yesterday’s AM fix was USD 1,229.50, EUR 892.62 and GBP 754.57 per ounce.
Gold rose $3.10 or 0.25% yesterday, closing at $1,240.70/oz. Silver climbed $0.26 or 1.32% closing at $19.96/oz. Platinum fell $3.24, or 0.2%, to $1,358.25/oz and palladium rose $0.25 or 0%, to $715.90/oz.
Gold in U.S. Dollars, 30 Days – (Bloomberg)
Gold is marginally lower today after two days [...]
The GM Bailout: Paid Back in Full
The investment of U.S. and Canadian tax dollars worked.
Today, General Motors is announcing that it has made a payment of $5.8 billion to the U.S. Treasury and Export Development Canada. We’re paying back—in full, with interest, years ahead of schedule—loans made to help fund the new GM.
GM’s CEO rejects repaying Feds for bailout losses
The General Motors bailout may have cost the government $10 billion, [...]
By Michael Snyder
During 2013, America continued to steadily march down a self-destructive path toward oblivion. As a society, our debt levels are completely and totally out of control. Our financial system has been transformed into the largest casino on the entire planet and our big banks are behaving even more recklessly than they did just before the last financial crisis. We continue to see thousands of businesses and millions of [...]
France’s economy is declining, unemployment is rising, Ireland is exiting and they want the unemployed out of the country to reduce social security spending. The Ukraine is looking towards Russia to bail them out with a 15 billion dollar loan. Senator Schumer wants veterans to sacrafice while government officials do not. President Obama is pushing gun control during the Newtown anniversary. The NSA reported that they thwarted a cyber attacks [...]
December 16th, 2013
If you have been investing in gold and silver since the crash of global stock markets in 2008 or before, you’ve seen some pretty wild swings. They’re enough to make any traditional investor lose their nerve and buy or sell at exactly the wrong time.
But if you’re one of those “doomers” out there who understands that the price of gold, like everything else, is being manipulated by [...]
2013 is coming to an end on a world-before totally broken apart; 2014 will be merciless for this world of which only ruins will remain. But “we can also build something good with the stones that block the path” (1) and, in this chaos, the world-after has already taken its first steps as we anticipated in the GEAB N° 70 of December 2012 (2).Whether it be the economic or [...]
By Michael Snyder
What in the world is Barack Obama thinking? At a time when the United States is facing the greatest water crisis that it has ever known, Obama is allowing water from the Great Lakes to be drained, bottled and shipped to China and other countries around the globe. Right now, the Great Lakes hold approximately 21 percentof the total supply of fresh water in the entire world. Considering the [...]
If policymakers were gunfighters, they’d be out of bullets: They have run out of effective policy tools to improve the economy.
So the question is simple: If there is a recession in 2014, and policymakers are out of bullets, how will it play out across the American economy?
Recently, Deutsche Bank’s Jim Reid very astutely pointed out that the current “expansion” of the U.S. economy is on its fifth year—the seventh longest [...]
By Michael Snyder
Back in 2009, Al Gore boldly declared that “the entire north polar ice cap during some of the summer months could be completely ice-free within the next five to seven years.” Well, it turns out that was a lie along with almost everything else that Al Gore has been peddling. The truth is that the polar ice cap is actually growing. It is about 50 percent larger than it was [...]
Friends I am counting on you to share this video. These issues are critical to understand. Thanks and much love, Greg.
December 16th, 2013
If you have ever questioned the official narrative for the September 11th attacks then you have, without a doubt, been dubbed a conspiracy nut by the establishment media and those who hang on their every word.
Like the Warren Commission report on the JFK assassination, the 9/11 Report assembled by a Congressional investigation is unraveling and being revealed for what it really is – nothing more than a cover story.
by Charles Hugh-Smith
Is the unemployment rate real or fake? It is obviously fake, but we want to believe the fake is real for a variety of reasons.
We like to think we know the difference between what’s real and what’s fake. When we’re fooled by a fake Rolex watch purchased for $20 on some humid Asian street corner, we shrug it off: it’s no big deal because the fake isn’t harming anyone.
Growth in jobs, retail sales, services and overall output in the world’s biggest economy – combined with last week’s breakthrough budget deal in Washington – has convinced some economists that the Fed will announce a reduction to its $85-billion a month in purchases on Wednesday.
Bernanke’s Obfuscation Continues: The Fed’s $29 Trillion Bail-Out Of Wall Street
PARIS – Europe next week will launch a trio of hi-tech satellites to explore something that may seem utterly mundane: Earth’s magnetic field.
After all, magnetism has been with us for billions of years.
We harness it in innumerable ways, in navigation and electrical devices. What’s new?
Well, plenty, actually.
If all goes well, the 230-million-euro ($276-million) Swarm mission will explain some of the weird things happening to the planet’s magnetism.
2004 so yea even [...]
Chinese state television released video of the Chang’e-3 space probe landing on the Moon. The 140-kilogramme (300-pound) rover on board the probe separated from the much larger landing vehicle early on Sunday, around seven hours after the Chang’e 3 had touched down on a fairly flat, Earth-facing part of the moon. The event marks the first soft-landing on the moon in three decades, joining the USA and former USSR in [...]
Today’s AM fix was USD 1,229.50, EUR 892.62 and GBP 754.57 per ounce.
Friday’s AM fix was USD 1,222.75, EUR 891.22 and GBP 750.89 per ounce.
Gold rose $11.10 or 0.91% Friday, closing at $1,237.60/oz. Silver climbed $0.18 or 0.92% closing at $19.70/oz. Platinum fell $1.05, or 0.1%, to $1,357.70/oz and palladium fell $0.72 or 0.1%, to $714/oz. Gold and silver were both up for the week at 0.72% and [...]
Russian Market ‏@russian_market 2 min
UBS’s Richards: 65% Chance Fed Will Taper Today – CNBC
The Taper decision and game theory
Whatever It Takes
A few observations on what to look for in the language of the FOMC announcement tomorrow from a game theoretic perspective…
Ever since Mario Draghi ad-libbed the lines “whatever it takes” in his July 2012 speech in London, a speech that together with the equally fabulistic OMT program rescued Europe and [...]
Former National Security Agency contractor Edward Snowden stole vastly more information than previously speculated, and is holding it at ransom for his own protection.
“What’s floating is so dangerous, we’d be behind for twenty years in terms of access (if it were to be leaked),” a ranking Department of Defense official told the Daily Caller.
“He stole everything — literally everything,” the official said.
Last month British and U.S. intelligence officials speculated Snowden [...]
60 Minutes has come under fire for releasing a story on the NSA that managed to portray the agency that has come under fire for excessive spying as benevolent and completely wholesome. Wheeling out agents that looked more like extras from the Disney channel, and completely sidestepping the troubling issues that have been surfacing around the agency, reporter John Williams who had worked in the office of the Director of [...]