Archive for 2016

Precious Metal Pandemonium – Silver Spikes Limit-Up, Gold Surges As China FX Basket Hits Record Low

Courtesy of ZeroHedge. View original post here.

Update: Silver just exploded above $21 – up almost 8% – its biggest single day surge since September 2013. Silver is limit up on SHFE as Gold is also surging back towards Brexit highs near $1360… China’s CFETS Renminbi basket just hit a record low..

All of this is happening as China’s currency collapses to a record low since it began being published against a broad basket of majors…

As we detailed earlier, e xtending Friday’s gains, Silver futures just broke above $20 for the first time since August 2014…

And Gold topped $1350 once again…

Following silver’s best week since August 2013, dramatically catching up to gold’s recent performance, it appears, despite the volumeless meltup in stocks, that Brexit has sparked huge demand for the safety of precious metals.

For a second straight week, funds boosted their net-long futures and options positions in the two metals to the highest since the data begins in 2006.

Money managers have been piling in on demand for havens and speculation that interest rates will stay low as central bankers around the world struggle to contain the economic fallout from the U.K.’s vote to quit the European Union.

But what happens next?

As a reminder, on April 21st PIMCO’s Harley Bassman suggested “The Fed should monetize gold”…

In “Rumpelstiltskin at the Fed“, Bassman goes down the well-trodden path of proposing Fed asset purchases as the last ditch panacea for the US economy, however instead of buying bonds, or stocks, or crude oil, Bassman has a truly original idea: “the Fed should unleash a massive Fed gold purchase program that could echo a Depression-era effort that effectively boosted the U.S. economy.

He is of course, referring to FDR’s 1933 Executive Order 6102, which made it illegal for a citizen to own gold bullion or coins. Americans promptly sold their gold to the government at the official price of $20.67, with the resulting hoard of gold was then placed in Fort Knox.

The Gold Reserve Act of 1934 raised the official price of gold to $35.00, a near 70% increase. It also resulted in an implicit devaluation of the US dollar. As Bassman points out, over the three years from January 1934 to December 1936, GDP increased by 48%, the Dow


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U.N. Official ‘Accidentally’ Crushes Own Throat Right Before Testifying Against Hillary Clinton

Courtesy of ZeroHedge. View original post here.

Submitted by Mac Slavo via SHTFPlan.com,

Call it conspiracy theory, coincidence or just bad luck, but any time someone is in a position to bring down Hillary Clinton by testifying they wind up dead. In fact, there’s a long history of Clinton-related body counts, with scores of people dying under mysterious circumstances.

Perhaps the most notable is Vince Foster. Foster was a partner at Clinton’s law firm and knew the inner workings of the Clinton Machine.  Police ruled that death a suicide, though it is often noted that Foster may have been suicided.

Now, another official has found himself on the wrong end of the Clintons. That John Ashe was a former President of the United Nations General Assembly highlights the fact that no one is safe once in their sights.

And as you might have guessed, there are major inconsistencies with Ashe’s death. It was not only conveniently timed because Ashe died just a few days before being set to testify against Clinton in a corruption case, but official reports indicated he died of a heart attack.

The problem, however, is that police on the scene reported Ashe died when his throat was crushed during a work-out accident.

The New York Post’s Page Six reported that after Ashe was found dead Wednesday, the U.N. claimed that he had died from a heart attack. Local police officers in Dobbs Ferry, New York, later disputed that claim, saying instead that he died from a workout accident that crushed his throat.

Adding to the mysterious nature of Ashe’s death was the fact that he had been slated to be in court Monday with his Chinese businessman co-defendant Ng Lap Seng, from whom he reportedly received over $1 billion in donations during his term as president of the U.N. General Assembly.

And then there was this: During the presidency of Bill Clinton, Seng illegally funneled several hundred thousand dollars to the Democrat National Committee.

Source: The Conservative Tribune via The Daily Sheeple

It must be coincidence, right?

If former Secret Service agent Gary Byrne is to be believed, this is business as usual for the Clintons. Excerpt via Zero Hedge:

BYRNE: I feel so strongly that people need to know the real Hillary Clinton


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Suicide Bomber Blows Himself Up In Front Of US Consulate In Saudi Arabia

Courtesy of ZeroHedge. View original post here.

After last night’s massive suicide bombing in Baghdad which killed over 100, and which ISIS took responsibility for, we doubt the Islamic State will be just as quick to take credit for tonight’s latest terrorist attempt, this time in the Saudi Arabian city of Jeddah, where a suspected suicide bomber was killed in front of the US consulate.

As the Saudi Gazette reports, security authorities have raised the alert in Jeddah to the maximum after a suicide bombing attempt in which an individual blew himself up inside a car in front of the US Consulate in Jeddah.

#BreakingNews Suicider blown up his explosive belt in front of #USA consulate in Jeddah.. #Saudi pic.twitter.com/ZjFqUdmHfc

— Rami (@RamiAILoIah) July 4, 2016

A photo circulated today of suicide bomber near US consulate in Jeddah shows man was shot before blowing himself up. pic.twitter.com/gMcUFcxpNT

— Wael Mahdi (@WaelMahdi) July 4, 2016

According to Sabq sources two diplomatic security personnel were injured in the blast. They were rushed to the hospital. Security forces in Jeddah surrounded the area and enforced a lockdown where the consulate is located. Security forces are following up on the situation.

BBC adds that two policeman were reportedly injured in the incident and the attacker is said to be dead. The attack came in the early hours of US Independence Day. The Jeddah consulate was the scene of a militant attack in 2004, which left nine people dead.

The attack coming on July 4 is hardly a coincidence.

For now, the market is not reading too much into it, with WTI up just 2 cents; if anything it is silver which is surging which as of moments ago just hit limit up in Shanghaim, surging by 6%.





Old Men Start Wars, Young Men Die In Them

Courtesy of ZeroHedge. View original post here.

Submitted by Laurence Vance via LewRockwell.com,

“Older men start wars, but younger men fight them.” ~ Albert Einstein

“Older men declare war. But it is the youth that must fight and die.” ~ Herbert Hoover

“I’m fed up to the ears with old men dreaming up wars for young men to die in.” ~ George S. McGovern

One hundred years ago – on July 1, 1916 – thousands of young men died after older men decided, again, to send them to war. On the first day of the Battle of the Somme, the British army suffered 57,470 casualties, of which 19,240 were deaths, the French had 1,590 casualties, and the Germans had over 10,000. It was the single greatest day for casualties in British military history. By the time the Battle of the Somme ended in November, the British had around 420,000 casualties, the French about 200,000, and the Germans about 500,000.

One would think that when almost 20,000 of your young men in the prime of their life die in one battle on one day that the British would simply say “enough is enough” and just tell the army to quit fighting and go home. But no, the British army continued to execute men for desertion like the hundred or more that suffered that fate in the two years before the Battle of the Somme.

It is senseless slaughter like the Battle of the Somme that led Ernest Hemingway, who was an ambulance driver in Italy toward the end of World War I, to say:

They wrote in the old days that it is sweet and fitting to die for one’s country. But in modern war there is nothing sweet nor fitting in your dying. You will die like a dog for no good reason.

Never think that war, no matter how necessary, nor how justified, is not a crime.

Over 115,000 American soldiers would go on to die like dogs for no good reason after the United States foolishly and senselessly entered World War I in April of 1917. The thousands of U.S. troops who in more recent times died in Iraq and Afghanistan likewise senselessly died in vain and for a lie.

How do you prevent


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Upon Completing The World’s Largest Radio Telescope, China Will Now Be Listening For Aliens

Courtesy of ZeroHedge. View original post here.

When GDP is falling and the global economy is weak, there are normally many let’s say, “out of the box” ideas on how to stimulate growth again – aside from central planners tripping over each other to see who can print money the fastest that is.

For China, one would assume that more ghost cities are being built, or new projects are being constructed in order to stop Beijing from sinking, but one project that has taken place that many may not have known about is the construction of the world’s largest radio telescope.

As RT reports, China has now completed construction on the world’s largest radio telescope. The Single-Aperture Spherical Radio Telescope (FAST) as it is known, is an enormous dish made up of 4,450 reflector panels with a diameter of a half a kilometer, which is larger than the previous record holder, Puerto Rico’s Arcibo Observatory.

It was completed in southwestern China’s Guizhou Province on Sunday, when the last reflector was fitted into a natural bunker, which is situated among the mountains of Pingtang County.

The task of the telescope? According to RT, it is to be used to look for intelligent life in deep outer space. Once operational, FAST will be able to detect radio signals from as far away as one thousand light years – evidently that’s where the aliens are.

Work began on the project in March of 2011, and was completed Sunday, ahead of the originally planned September date. The project displaced some local residents, who were given $1,800 in compensation and moved to a newly built accommodation.

In total, RT reports that the project cost just over $105 million – while it isn’t quite the Death Star we were looking for, this is an excellent start.

Enjoy…

via GIPHY





The Curse Of Socialist Highways – How Government Ruins July 4th Travel

Courtesy of ZeroHedge. View original post here.

Submitted by Tho Bishop via The Mises Institute,

At its best, Independence Day is a celebration of American secession and a testament to individual liberty. At its worst, Independence Day is still a day where government offices are closed, American grills are lit and the evening sky is full of fireworks, which is still pretty good (at least in my subjective value.)

Unfortunately the travel before and after the 4th of July is a different story, with it widely considered one of the worst travel days of the year. While the desire to take advantage of the holiday to enjoy friends and family is a natural product of humans being inherently social creatures, the degree to which this congestion leads to headache and misery rests solely with the institution responsible for them during the rest of the year – the government.

The Curse of Socialist Highways

The question “who will build the roads?” has become such a statist cliché that it’s perhaps the only libertarian internet meme bigger than “taxation is theft” and Ron Paul informing us that “it’s happening.” It has earned that designation because the entire idea of roads and highways has become so synonymous with government that even Joe McCarthy voted for this form of socialism.

Of course, the purpose for the current American interstate system had nothing to do with consumer demand and everything to do with military transportation throughout the country. While some may defend such a project on that basis, it shouldn’t be a surprise that interstates designed to transport tanks and weapons aren’t always the best at facilitating family travel.

As Walter Block has long argued, much of the congestion on these highways is a direct result of their being in the control of government and therefore being unable to have proper pricing. In his article Congestion and Road Pricing, Dr. Block rebuts various arguments defending public management of highways, as well as government-based solutions (such as automobile bans that were in vogue at the time). Block identifies how free market solutions would solve the problem of congestion, such as enabling “travel entrepreneurs” to design and fund higher-cost toll roads for travelers who don’t mind paying extra for a quicker drive. Not only would such a system obviously


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Silver Spikes Over $20, Gold Tops $1350 As Post-Brexit Panic Sends Precious Metals’ Positioning To Record Highs

Courtesy of ZeroHedge. View original post here.

Extending Friday’s gains, Silver futures just broke above $20 for the first time since August 2014…

And Gold topped $1350 once again…

Following silver’s best week since August 2013, dramatically catching up to gold’s recent performance, it appears, despite the volumeless meltup in stocks, that Brexit has sparked huge demand for the safety of precious metals.

For a second straight week, funds boosted their net-long futures and options positions in the two metals to the highest since the data begins in 2006.

Money managers have been piling in on demand for havens and speculation that interest rates will stay low as central bankers around the world struggle to contain the economic fallout from the U.K.’s vote to quit the European Union.

But what happens next?

As a reminder, on April 21st PIMCO’s Harley Bassman suggested “The Fed should monetize gold”…

In “Rumpelstiltskin at the Fed“, Bassman goes down the well-trodden path of proposing Fed asset purchases as the last ditch panacea for the US economy, however instead of buying bonds, or stocks, or crude oil, Bassman has a truly original idea: “the Fed should unleash a massive Fed gold purchase program that could echo a Depression-era effort that effectively boosted the U.S. economy.

He is of course, referring to FDR’s 1933 Executive Order 6102, which made it illegal for a citizen to own gold bullion or coins. Americans promptly sold their gold to the government at the official price of $20.67, with the resulting hoard of gold was then placed in Fort Knox.

The Gold Reserve Act of 1934 raised the official price of gold to $35.00, a near 70% increase. It also resulted in an implicit devaluation of the US dollar. As Bassman points out, over the three years from January 1934 to December 1936, GDP increased by 48%, the Dow Jones stock index rose by nearly 80%, and most salient to our topic, inflation averaged a positive 2% annually, despite a national unemployment rate hovering around 18%.

In short, a brief economic nirvana which was unleashed by the devaluation of the dollar confiscation of gold. In fact, we have frequently hinted in the past that another Executive Order 6102 is inevitable for precisely these reasons. However this is the first time when we


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Silver Spikes Over $20 As Post-Brexit Panic Sends Precious Metals’ Positioning To Record Highs

Courtesy of ZeroHedge. View original post here.

Extending Friday’s gains, Silver futures just broke above $20 for the first time since August 2014…

Following silver’s best week since August 2013, dramatically catching up to gold’s recent performance, it appears, despite the volumeless meltup in stocks, that Brexit has sparked huge demand for the safety of precious metals.

For a second straight week, funds boosted their net-long futures and options positions in the two metals to the highest since the data begins in 2006.

Money managers have been piling in on demand for havens and speculation that interest rates will stay low as central bankers around the world struggle to contain the economic fallout from the U.K.’s vote to quit the European Union.

But what happens next?

Source: Bloomberg





Merkel To Get Rid Of Jean-Claude Juncker “Within The Next Year”

Courtesy of ZeroHedge. View original post here.

In the aftermath of the Brexit fiasco, the biggest fissure that emerged was not between the economies of the UK and Europe, nor between the stock markets of the UK and Europe, both of which have spiked on the back of another round of central bank liquidity promises, but between Angela Merkel, and the alcohol-afficionado who erroneously believes is the head of Europe, Jean-Claude Juncker. Unfortunately for the latter, he is now on his way out because as the Telegraph reports, citing a Sunday Times interview with a German government minister, Merkel has finally decided to oust Europe’s federalist chief Jean-Claude Juncker “within the next year.”

The catalyst for those who have been following the Brexit fallout should not come as a surprise: as we first reported a week ago in ‘More Confusion: EU Tells Cameron To Hurry Up With Article 50 As Merkel Says No Need To Rush“, the German chancellor’s frustration with the European Commission chief came as Europe split over whether to use the Brexit negotiations as a trigger to deepen European integration or take a more pragmatic approach to Britain as it heads for the exit door.

“The pressure on him [Juncker] to resign will only become greater and Chancellor Merkel will eventually have to deal with this next year,” an unnamed German minister told The Sunday Times, adding that Berlin had been furious with Mr Juncker “gloating” over the UK referendum result. Look no further than “Juncker Lashes Out At British Lawmakers: “Why Are You Here?”” for an example of just that.

Furthermore, Juncker’s constant and unabashed calls for “more Europe” – many of which have come in an intoxicated or outright drugged state – has led to several of Europe other dissenting members – including Poland, Hungary and the Czech Republic – to lay some of the blame for Brexit at his door.

Even before he was appointed President of the European Commission – against the wishes of David Cameron – concerns were raised about Mr Juncker’s alchohol consumption which were dismissed as a “smear campaign” by his officials. It was, however, all true: at the time The Telegraph and several other newspapers reported officials worrying about Mr Juncker having “cognac for breakfast” and rolling through long negotiations fortified with large quantities of claret


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Top Ten Videos – July 4

Courtesy of John Rubino.

Brexit from every possible angle. The new gold/silver bull market and why it’s just beginning.

Visit John’s Dollar Collapse blog here





 
 
 

Phil's Favorites

Congress is considering privacy legislation - be afraid

 

Congress is considering privacy legislation – be afraid

Courtesy of Jeff Sovern, St. John's University

Supreme Court Justice Louis Brandeis called privacy the “right to be let alone.” Perhaps Congress should give states trying to protect consumer data the same right.

For years, a gridlocked Congress ignored privacy, apart from occasionally scolding companies such as Equifax and Marriott after their major data breaches. In its absence, ...



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Zero Hedge

Key Events This Week: Trade War, EU Elections, Durables, PMIs And Fed Minutes

Courtesy of ZeroHedge

Looking at this week's key events, Deutsche Bank's Craig Nicol writes that while the unpredictable nature of US-China trade developments will likely continue to be the main focus for markets again next week, we also have the European Parliament elections circus to look forward to as well as various survey reports including the flash May PMIs which may offer some insight into the impact of trade escalation on economic data. The FOMC and ECB meeting minutes are also due, along with a heavy calendar of Fed officials speaking.

The European Parliament elections will kick off next Thursday with voting continuing into the weekend across the continent, with results expected on Sunday. With the elections surrounded by internal and external challenges for the EU, members di...



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Kimble Charting Solutions

Will S&P 500 Double Top Derail The Rally?

Courtesy of Chris Kimble.

The rally off the December stock market lows has been strong, to say the least. The S&P 500 rallied 25 percent before hitting and testing the 2018 high.

The old highs proved to be formidable resistance and ushered in some volatility in May… and a 5 percent pullback.

In today’s 2-pack, we look at that resistance level – could that be a double top? We can see similar patterns develop on the S&P 500 Index and its Equal Weight counterpart.

Both indexes are testing short-term Fibonacci retracement levels of the recent decline at point (2).

What takes place here after potential double top highs will be important. Stay tuned...



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Insider Scoop

60 Biggest Movers From Friday

Courtesy of Benzinga.

Gainers
  • Fastly, Inc. (NYSE: FSLY) shares jumped 50 percent to close at $23.99 on Friday. Fastly priced its 11.25 million share IPO at $16 per share.
  • Outlook Therapeutics, Inc. (NASDAQ: OTLK) shares climbed 37.3 percent to close at $2.10 on Friday after the stock rose over 68 percent Thursday following an Oppenheimer initiation at Outperform with a price target of $12.
  • Cray Inc. (NASDAQ: CRAY) shares rose 22.5 percent to close at $36.52 after Hewlett Packard Enterpri...


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Chart School

Weekly Market Recap May 18, 2019

Courtesy of Blain.

China – U.S. trade talk continued to dominate the week.   A heavy selloff Monday was followed by 3 up days, with Friday moderately down.

On Monday, Chinese officials announced retaliatory tariffs against the U.S., hitting $60 billion in annual exports to China with new or expanded duties that could reach 25%.

Then on Wednesday:

The Trump administration plans to delay a decision on instituting new tariffs on car and auto part imports for up to six months, according to media reports.

...

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Digital Currencies

Cryptocurrencies are finally going mainstream - the battle is on to bring them under global control

 

Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control

The high seas are getting lower. dianemeise

Courtesy of Iwa Salami, University of East London

The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what ...



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Biotech

DNA as you've never seen it before, thanks to a new nanotechnology imaging method

Reminder: We are available to chat with Members, comments are found below each post.

 

DNA as you've never seen it before, thanks to a new nanotechnology imaging method

A map of DNA with the double helix colored blue, the landmarks in green, and the start points for copying the molecule in red. David Gilbert/Kyle Klein, CC BY-ND

Courtesy of David M. Gilbert, Florida State University

...



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ValueWalk

More Examples Of "Typical Tesla "wise-guy scamminess"

By Jacob Wolinsky. Originally published at ValueWalk.

Stanphyl Capital’s letter to investors for the month of March 2019.

rawpixel / Pixabay

Friends and Fellow Investors:

For March 2019 the fund was up approximately 5.5% net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 1.9% while the Russell 2000 was down approximately 2.1%. Year-to-date 2019 the fund is up approximately 12.8% while the S&P 500 is up approximately 13.6% and the ...



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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Mapping The Market

It's Not Capitalism, it's Crony Capitalism

A good start from :

It's Not Capitalism, it's Crony Capitalism

Excerpt:

The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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