Dave Kranzler’s Investment Research Dynamics

http://investmentresearchdynamics.com/

Was The July 19 Paper Raid On Gold Implemented To Remove Gold From GLD?

Craig Hemke of the TF Metals Report wrote an article which has sniffed out the probable motive behind the shamelessly blatant paper smash of gold on Sunday evening July 19 at one of the quietest trading periods of the week:

As a readily-accessible source of instantly-available gold, The Authorized Participant Bullion Banks are once again redeeming their 100,000 share lots for physical gold from the GLD “inventory”. That this gold is then utilized to settle physical demand from around the globe is hardly arguable, given recent history.  – Craig Hemke, TFMetalsReport.com

I believe Craig has hit the nail on head here.  Ever since first reading James Turk’s original dissection of the GLD Trust legal structure from the Prospectus, it’s been pretty obvious that GLD was created to act as a “holding reservoir” of physical gold that would be used by the Central Banks/bullion banks as a source of gold to required to settle LBMA forward commitments to buyers (i.e. China, India and Russia) who would refuse to settle in cash.  99% of all Comex trades are settled in cash.

The one unresolved question, for me anyway, is the issue of how much gold really still exists in unencumbered (e.g. leases or hypothecation agreements) physical bar form in HSBC’s vault or the vaults of designated subcustodians.  It’s an question that won’t be answered until the system implodes because GLD, by design, has made it impossible for anyone to conduct a bona fide, independent audit.

This is an excerpt from a post I wrote on the The Golden Truth, the predecessor blog to Investment Research Dynamics – it looks like my analysis was correct back then which reaffirms Craig’s analysis of what happened two weeks ago:

We have witnessed a stunning drain of gold from the GLD ETF trust.  Through last Friday, an incredible 479 tonnes – more than 35% – of GLD’s gold has been removed and has disappeared, most likely to Asia – in the space of about 10 months.  The biggest chunk of that 479 tonnes was removed shortly after Germany’s Bundesbank issued it’s feeble and hopeless request to the U.S. that the Federal Reserve start shipping back some portion of the 1500 tonnes of gold that is supposedly being “safe-kept” on behalf of Germany by the Fed in its vault in New York City.   Gold luck, Angela…

I have looked at GLD suspiciously ever since James Turk issued the first analysis of GLD’s prospectus back in 2004.  Those of us who are familiar with securities laws and investor “safe guards” supposedly enforced by the SEC were absolutely shocked that the SEC approved the GLD prospectus as it was filed because of the egregious lack of GLD sponsor and custodian legal accountability standards typically required by the SEC for publicly traded securities.

Given this fact, I believed at the time that GLD was a scheme devised to suck  in retail and institutional cash that might otherwise flow in massive quantities into actual physical gold that would be safe-kept in private vaults in this country.  Although GLD has a mechanism to enable investors with a minimum of 100,000 shares to convert those shares into gold that would be delivered to the investor, the procedure is exceedingly cumbersome and expensive and there’s a mechanism embedded in the language of the prospectus that enables the trustee of GLD to deny such requests.

But I also knew – through GATA’s invaluable research – that there would eventually be a shortage of physical gold that would be available to allow the western Central Banks and bullion banks to maintain their oppressive and incessant manipulation of the paper gold market for the purposes of maintaining a cap on the price of gold, for the purposes of defending the credibility of the U.S. dollar.  I figured that at some point the gold in GLD would used for this purpose once the Central Bank stocks of gold were largely if not fully depleted.  In this context, please recall that about three years, the ECB system, which had been selling 400 tonnes per year on average, pretty much stopped selling any gold.  That’s sign-post #1 that I was right.

Then along comes the Bundesbank in early 2013, with a request that the Fed start shipping Germany’s gold held in in New York back to Germany.  That’s when all hell broke loose:

(The graph above is from the TFMetalsReport.com)

There’s something really wrong with that picture because the intuitive response from the market by Germany’s request of the Fed should have been a quickly rising price of gold.  But as you we all know, the Fed defaulted on the request – for all intents and purposes – and that’s when the massive drain of gold from GLD commenced.

The truth is that my original hunch was correct.  100% correct.  The gold in the GLD trust is being used to satisfy the enormous physical delivery demands from China and the other big gold buying countries because the western Central Banks have run out of gold to deliver.  That is an unmistakable fact. Reports and data ad nauseum have been published in the last six months describing and verifying the voluminous, unprecedented amount of gold bars that have been moved – literally physical transferred – from the Comex in NY and  the LBMA and Bank of England vaults in London to Switzerland and then on to Hong Kong, where it flows to its ultimate destinations in China.  Anyone who would deny that this is the case has a blatant and catastrophic disregard for the truth as supported by provable facts.

So the question is, how much longer can the depletion of gold from GLD continue before this scheme falls apart?  Let me first say that it is likely that the U.S Government’s “Waterloo” in this situation will be the gross miscalculation – when GLD was originally devised – of the growth and size of China’s appetite for physical gold for which actual physical delivery is demanded.

Along with all the other manipulated schemes of the western Central Banks/Governments, I believe that the GLD fraud is starting to unravel.  I would argue that the ability to execute successfully the intervention  in interest rates, currencies and equities requires the unfettered ability to manipulate the price of gold.  In my view, the western Central Banks are losing their grips on gold and this will likely bring the entire western financial system down.

Shadow of Truth Market Update: Another Nail Is Pounded Into The Dollar’s Coffin

While most people and the media associate the “BRICS” most commonly with Russia and China – perhaps because the neo-cons who control the U.S. Government and media have forced this illusion on the unsuspecting American public – let’s not forget that the “S” in “BRICS” stands for “South Africa.”

Huh? South Africa?  Isn’t that some British outpost in Africa?  Let’s not forget that South Africa is the fifth largest gold producing country in the world.  It also is the world’s largest exporter of platinum and chromium and produces and sells a hulluva a lot of iron ore.

My colleague Rory Hall of The Daily Coin happened to find an article in The BRICS Postonline which reported that South Africa was now conducting over 30% of its trade with China directly in yuan.  China is by far South Africa’s largest trading partner.  The trend in China’s bilateral trade settlement in rand/yuan with S. Africa underscores the movement in world trade away from using the U.S. dollar.

In the Shadow of Truth’s latest Market Update segment, Rory and I discuss this development, as well as what appears to be one massive bottom forming in the ability of the paper gold criminals to push gold much lower.  Make no mistake, as this earlier post today illustrates,there is an enormous bid for physical gold in the market.  And that bid is coming from both China and India now.

https://www.youtube.com/watch?v=rIvLwpUk-yQ

As Jim Willie stated, the dollar will not collapse per se, it will vanish. One of the best ways a smaller investor can take advantage of this insight besides accumulating physical gold and silver is to implement bearish bets on teh stock market. One of the biggest individual stock bubbles of all time has formed in Amazon.com’s stock. I have written a uniquely in-depth research report which I’m in the process of updating and revising. I have new insights which come from a reader who is a tech company accounting specialist. In fact, one of the manipulation tricks being used was alerted to him from an insider.

AMZN implements misleading and arguably fraudulent accounting in order to present the illusion that produces “free cash flow.” In fact, AMZN burns cash like a Weimar-era furnace fueled by printed marks. My existing report is available here:  AMAZON dot CON.  Anyone who has already purchased it prior to the release of updated report will receive the updated version. Once the updated report is released, I will be raising the price.

This report also includes capital management strategies which are necessary when shorting any stock and options strategies for anyone not comfortable shorting stocks. There has never been a comprehensive analysis of AMZN’s accounting like I present in my work. When this market rolls over, small fortunes will made by anyone with the patience to set up an AMZN short position ahead of the crash.

Shanghai Gold Exchange Has Third Largest Withdrawal Week In Its History

I was exchanging emails with Eric King of King World News earlier this week and, in the context of the unprecedented degree of paper gold manipulation and anti-gold propaganda regurgitating from the financial media, I asked him if he thought what was happening signaled a bottom:

Yes I do think it’s the bottom, Dave.  The anti-gold propaganda is off the charts.  I have never seen it this bad.  Every bullion bank and mainstream media station is bashing gold.  – Eric King, King World News

I thought the “pet rock” article in the wall street journal was the height of the madness.  But an article featured by Marketwatch which suggested that gold might hit $350 and that its fair value is $875 is perhaps the culmination of absurdity.

The irony in this is that, while the U.S. propagandists who are pulling the proverbial rug out from under the American public and extracting as much wealth from the public as they can before the country collapses, the Chinese are accumulating physical gold – aka real money – at a record rate.

Meanwhile gold and silver eagle sales from the US Mint have begun to accelerate this summers.  My good friend and colleague of several years, “Jesse” of Jesse’s Cafe Americain posted commentary which succinctly encapsulates contrast between fact and fiction:

And as you may have seen in the posting from earlier today showing the sea change in leverage over even the past ten years there, it is seemingly getting a lot less physical all the time, even compared to just five or six years ago.Winning…Even the US Mint seems to be getting in on the act.  The mint sold 202,000 ounces of gold in the form of coins for the month of July, one of its largest monthly sales totals in several years.  

That’s a lot of pet rocks.  Do the math. I wonder where the poor, deluded ignoramuses who obviously do not understand finance are getting all that money to spend on such worthless trifles.  Does the US Mint take food stamps?

You can read the rest of his piece here:  Jesse’s Cafe Americain

In contrast to Jesse, the Wall Street Journal’s Jason “Gold is a pet rock” Zweig is perhaps the most pathetic journalist of our era…

Monday Morning 8/3

Goldcore: Protection From Cold and Hot Wars, Cyber and Currency Wars

We are living in an extremely uncertain world – perhaps the most uncertain in most of our lifetimes. In this rapidly changing and uncertain world – there are many new and emerging risks and we believe it is vital to stay informed. These include cyber and currency wars, terrorism, cold and indeed very hot wars […]  CONTINUE READING

Chinese Stocks Slide Again, Copper Tumbles To 6 Year Low; Greek Market Crashes After One Month Trading Halt

If China had hoped it would root out intervention by eliminating Citadel’s rigging algos, and unleash a buying spree it was wrong: the Shanghai Composite opened negative, and never managed to cross into the green, despite the usual last hour push higher, ending down -1.1% and down for 6 of the past 7 days. The real action, however, was not in Asia but in Europe, and specifically Greece, where the stock market finally reopened after a 1+ month “capital control” hiatus. Despite the attempt to micro manage the reopening, the result was not pretty, with stocks crashing 23% at the open and staging barely a rebound trading -17% as of this moment, even as banks promptly traded down to the -30% limit as the realization that an equity-eviscerating recapitalization (or bail-in) is now inevitable.

Greek Stocks, Economy Collapse, Suffer Worst Declines In History

The Athens Stock Exchange reopened on Monday after a five-week hiatus. Stocks fell nearly 23% out of the gate with the country’s insolvent banks trading limit-down. Meanwhile, Markit confirmed that the Greek economy has for all intents and purposes collapsed, with Greece’s manufacturing PMI printing at 30.2. New orders plunged to just 17.9, betraying a contraction of unprecedented depth.

THE SURVEILLANCE STATE GOES MAINSTREAM: WINDOWS 10 IS WATCHING (& LOGGING) EVERYTHING

If Edward Snowden’s patriotic exposure of all things ‘super secret surveillance state’ in America were not enough, Newsweek reports that, as 10s of millions of hungry PC users download the free upgrade, Windows 10 is watching – and logging and sharing – everything users do… and we mean everything.

Why Your Brokerage Account Isn’t as Safe as You Think It Is

from Casey Research:   Imagine logging into your brokerage account tomorrow and finding out that it’s frozen.  Not just your account… every customer account at your brokerage is frozen.  You can’t buy stocks. You can’t sell stocks. You can’t move money out of the account.  Your account rep insists the money is still there. It’s just not available now. He doesn’t know when it will be.  When you demand to transfer $25,000 cash out of the account, he says, “I’m sorry… the system won’t let me.”  Read More

Five Consequences of America’s Moral Collapse
Americans have become so “non-judgmental” that many people can no longer tell the difference between good and evil. We congratulate ourselves for being “nicer,” more sensitive and less prejudiced than past generations of Americans, but we don’t stop to consider how much more there is to morality than that.

Right Wing MK: Jerusalem Pride Parade Is an Abomination’
“So here I say it again fearlessly: I object vehemently to violence, and promise to object no less vehemently to the recognition of same-sex couples in the Jewish State,” Betzalel Smotrich wrote Sunday in a Facebook post. “I promise to fight violence, and no less than that, I will fight any attempt to besmirch traditional Jewish family values.”

Scientists sound alarm over supercharged GM organisms which could spread in the wild and cause environmental disasters
A powerful new technique for generating “supercharged” genetically modified organisms that can spread rapidly in the wild has caused alarm among scientists …Researchers have likened gene-drive technology to a nuclear chain reaction because it allows GM genes to be amplified within a breeding population of insects or other animals without any further intervention once the trait has been initially introduced.

73% OF INMATES WHO DIE IN JAIL HAVEN’T BEEN CONVICTED OF A CRIME

Being arrested for a crime isn’t supposed to be the same thing as being convicted, yet many people awaiting trial suffer the ultimate penalty—death—while they’re in custody. A report (pdf) by the Bureau of Justice Statistics (BJS) shows that 73% of those who die in jail haven’t been convicted of a crime. In addition, 29% of those who die are African-American, more than double their percentage of the U.S. population at large.

SYRIAN REBELS BACKED BY THE U.S. WILL HAVE AIR COVER, SOURCE SAYS

Syrian rebels backed by the United States will now have air cover if they come under attack after President Barack Obama signed off on the decision, a senior administration official confirms to CNN on Sunday. The official said “this has been months in the making.”

Obama’s Climate Fascism Is Another Nail In The Coffin For The U.S. Economy

Is Barack Obama trying to kill the economy on purpose?  On Sunday, we learned that Obama is imposing a nationwide 32 percent carbon dioxide emission reduction from 2005 levels by the year 2030.  When it was first proposed last year, Obama’s plan called for a 30 percent reduction, but the final version is even more dramatic.  The Obama administration admits that this is going to cost the U.S. economy billions of dollars a year and that electricity rates for many Americans are going to rise substantially.  And what Obama is not telling us is that this plan is going to kill what is left of our coal industry and will destroy countless numbers of American jobs.  The Republicans in Congress hate this plan, state governments across the country hate this plan, and thousands of business owners hate this plan.  But since Barack Obama has decided that this is a good idea, he is imposing it on all of us anyway. (Read More….)

It Gets Ugly in Canada

from Wolf Street:  “It’s an election about who will protect our economy in a period of ongoing global instability,” Stephen Harper, Prime Minister of Canada, announced on Sunday as he officially kicked off the campaign for the federal elections on October 19. He’d just asked Governor General David Johnston to dissolve Parliament. “Now is not the time for the kind of risky economic schemes that are doing so much damage elsewhere in the world,” he said. “It is time to stay the course and stick to our plan.” Read More

Chinese Factory Loses 90% of Its Workforce to Robots

by Joshua Krause, Daily Sheeple:  Ever since China joined the World Trade Organization in 2001, the US has had millions of manufacturing jobs outsourced to the growing nation. But what most American’s don’t realize is that many of these Chinese workers also feel cheated by this arrangement. They’re just as frustrated with us, because they can’t afford the products that they build for the American consumer. Over the years, this resentment has fueled a surge of labor strikes and demands for better pay for these workers.  So it should come as no surprise that factory owners are more than willing to automate these jobs. While American workers have good reason to be pissed about having their jobs shipped overseas, in the very near future they’re going to find themselves in the same boat as every other blue-collar worker in the world. Their jobs won’t be outsourced to other countries, they’ll disappear entirely. Hundreds of employees with the Changying Precision Technology Companyjust experienced this trend firsthand.   Read More @ thedailysheeple.com

Food Storage Supplies Running Out Nationwide as Citizens Prepare for September Events

by J. D. Heyes, Natural News:  A recent investigation by an alternative news website turned up a shocking truth: Due to huge demand, a growing number of storable food companies are experiencing dramatic shortages of virtually all goods, meaning that, should a regional or national emergency strike, millions of Americans will be left with nothing to eat and completely dependent on an understaffed, underfunded government.  As reported by AllNewsPipeline.com (ANP), correspondents for the news site began visiting a number of survival food websites in July, with the goal of ordering some essential bulk food items that included potatoes, carrots, mangoes, peaches, powdered eggs and powdered milk, among other items. But the more they shopped, the more they found notices on the survival food sites stating that supplies were either low or temporarily out of stock.  Only, the warnings did not say that stocks would be immediately replenished; rather, the site reported, some food items would take weeks to restock.  Read More @ NaturalNews.com

Chris Martenson-$40 Trillion Lost in Next Crash

Published on Aug 2, 2015:  Economic researcher Chris Martenson, who also holds an earned PhD in Toxicology, says watch China because the recent signs are not good. Martenson contends, “You get your early signals from the place that is closest to the true economic action, and China is the center of that. So, to me, watching commodities tank first, gyrations in the Chinese stock market second, says third, you better be prepared for a big deflationary event or a big crash. . . . This is the mother of all crashes because the crash of 2008 was actually a side show. . . . We are going to discover that, like all bubbles, you return from where you started. . . . That means $40 trillion will have to get wiped out in the U.S. market alone.”  Join Greg Hunter as he goes One-on One with Dr. Chris Martenson of PeakProsperity.com.   https://www.youtube.com/watch?v=MN4drI2CLEQ

Goldman Sachs Nukes The Earth

by Richard Wilcox, Ph.D., Activist Post:   “The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who’s Who of Goldman Sachs graduates.” (1) – Matt Taibbi, Rolling Stone  “For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.” – King James Bible, 1 Timothy 6:10   The sky’s the limit and big banks are investing in energy sectors such as nuclear power instead of renewable energy at the expense of humankind, the biome and biota, and future generations of the Earth. Banks like Goldman Sachs have been investing in the uranium market which is one of the reasons the transition away from a dangerous, nuclear power system to a more viable and safer renewable energy system is taking so long to occur.  Read More @ ActivistPost.com

 

 

Sunday Evening 8/2

Big Chunk Of JP Morgan’s Gold Holdings Withdrawn In One Day

from SRS Rocco:  In just one day, a big chunk of JP Morgan’s gold was withdrawn from the COMEX.  It’s been a while since we have seen such a large single withdrawal.  According to the CME Group’s Friday Warehouse Depository gold stocks, a whopping 200,752 ounces of gold were removed from JP Morgan’s Eligible category.  If we look at the table below, we can see JP Morgan’s total gold inventories fell from 1,398,214 oz on Thursday (7/30/2015) to 1,197,462 oz:  Read More…

Jeb Bush grabs cash from Iran and Cuba émigrés while opposing Obama policies

Émigrés from Iran and Cuba are at the top of Jeb Bush’s record-breaking presidential fundraising haul, according to campaign finance disclosures that paint the former Florida governor’s opposition to Barack Obama’s twin foreign policy priorities in stark new light.

Planned Parenthood President Made 39 Visits To Obama’s White House Since 2009
Planned Parenthood President Cecile Richards, head of the taxpayer-subsidized abortion giant currently facing a firestorm for allegedly selling body parts harvested from aborted babies, has made personal visits to the White House 39 times since President Barack Obama took office in 2009, White House records show.

This One Fruit Kills Malignant Cells of 12 Different Types of Cancer

by Christina Sarich, Natural Society:    What would you do if you found out that the extract from a single fruit could keep the rogue cells of 12 different types of cancer in check?Mainstream media reports that the fruit known as graviola, also known as soursop fruit, guanabana, or guyabano, but there are studies showing it effectively fights ovarian, colon, breast, prostate, lung, liver, cervical, lymphoma, and pancreatic cancers. For pancreatic cancer, graviola was shown to be effective at “inhibiting tumorigenicity,” as well as “altering pancreatic tumor cell metabolism,” found one pathologist at the University of Nebraska.  Laboratory research also showed it to be 10,000 times stronger in killing colon cancer cells than Adriamycin, a commonly used chemotherapy drug. And Graviola, unlike chemotherapy, can kill cancer cells without harming healthy cells.  Read More @ NaturalSociety.com

Goldman Sachs Nukes The Earth

by Richard Wilcox, Ph.D., Activist Post:  “The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who’s Who of Goldman Sachs graduates.” (1) – Matt Taibbi, Rolling Stone   “For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.” – King James Bible, 1 Timothy 6:10  The sky’s the limit and big banks are investing in energy sectors such as nuclear power instead of renewable energy at the expense of humankind, the biome and biota, and future generations of the Earth. Banks like Goldman Sachs have been investing in the uranium market which is one of the reasons the transition away from a dangerous, nuclear power system to a more viable and safer renewable energy system is taking so long to occur.

Monsters Of Ukraine: Made In The USA

Once again, in our endless search for foreign monsters to destroy, we’re creating yet more foreign monsters who will provide the next excuse for future crusades. It’s a perpetual motion machine of foreign policy madness – and the War Party likes it that way.Yes, your tax dollars are going to arm, train, and feed neo-Nazis in Ukraine. That’s what we bought into when Washington decided to launch a regime change operationin that bedraggled corner of southeastern Europe. Your money is also going to prop up the country’s war-stricken economy – albeit not before corrupt government officials rake their cut off the top.

Something Just Snapped: Container Freight Rates From Asia To Europe Crash 23% In One Week

It appears that the recent spike in shipping rates was analogous to the dead cat bounce in crude oil prices: a speculator-driven anticipation for a sustainable rebound that never took place. And now, just like with crude prices, it is all crashing down…. again.  According to Reuters, shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 22.8 per cent to $400 per 20-foot container (TEU) in the week ended last Friday, data from the Shanghai Containerized Freight Index showed.

The Surveillance State Goes Mainstream: Windows 10 Is Watching (& Logging) Everything

If Edward Snowden’s patriotic exposure of all things ‘super secret surveillance state’ in America were not enough,Newsweek reports that, as 10s of millions of hungry PC users download the free upgrade, Windows 10 is watching – and logging and sharing – everything users do… and we mean everything.

RECENTLY UNVEILED ROBOT CAN BUILD A BRICK HOUSE IN TWO DAYS!

Robots aren’t only taking over employees’ jobs at McDonald’s, they’re also mastering the construction industry! As PerthNow reports, Australian engineer Marc Pivac has developed a fully automated bricklaying robot this is capable of building a home in just two days. Named Hadrian, after the Roman emperor who build defense walls in England, the robot can work day and night, lay 1,000 bricks per hour, and can build 150 homes in a single year. After ten years of research and development, the Perth-based inventor claims to have built the first fully automated bricklaying robot.

RHODE ISLAND MANDATES HPV VACCINE FOR SEVENTH-GRADERS

Seventh-graders in all public and private schools in Rhode Island are now required to get the HPV vaccine. Starting this fall, seventh-graders who do not get the vaccine will not be allowed to attend school unless their parents seek an exemption for medical or religious reasons, the Providence Journal reported Tuesday.

CISA: THE DIRTY DEAL BETWEEN GOOGLE AND THE NSA THAT NO ONE IS TALKING ABOUT

One of the things that civil liberties activists like to lament about is that the general public seems to care more about Google and Facebook using their personal data to target advertising than the government using it to target drone strikes. The reality is that both types of abuse are dangerous, and they work hand in hand. It’s hard to find a more perfect example of this collusion than in a bill that’s headed for a vote soon in the U.S. Senate: the Cybersecurity Information Sharing Act, or CISA. CISA is an out and out surveillance bill masquerading as a cybersecurity bill. It won’t stop hackers. Instead, it essentially legalizes all forms of government and corporate spying.

NAVAL OFFICER THAT STOPPED ACTIVE SHOOTER TO FACE CHARGES FOR DISCHARGING WEAPON

When a deranged killer crashed a vehicle into a military reserve center and began shooting, a Naval officer drew a personal handgun and helped stop the attack. Now it is being reported that the officer, regarded as a hero to many, will be facing federal charges because he discharged a weapon on federal property.

 

Paul Craig Roberts-Economic House of Cards, Demand for Gold and Silver Very Very High

By Greg Hunter’s USAWatchdog.com 

Former Assistant Treasury Secretary Dr. Paul Craig Roberts contends all talk of the Fed raising interest rates this fall is totally wrong. Roberts explains, “They most certainly are not going to raise them because they’ve spent seven years keeping them at zero. In fact, inflation aside, there are already negative interest rates. . . . So, they are most certainly not going to raise interest rates because if they raise the rates, they will destroy all their efforts to keep the big banks afloat. They also would destroy the stock market. What we have seen all these years is every time the market needs to correct, the Plunge Protection Team steps in and buys the Standard and Poor’s futures and drives the market back up. So, what would cause the Plunge Protection Team and the Federal Reserve to all of a sudden jettison the policies they have been following all these years to save the big banks, to save the stock market and to keep the aura of success alive in America?”

Dr. Roberts says all the market manipulations have another big benefit. Dr. Roberts contends, “This supports the dollar as well. Now, if they were to raise interest rates, then you would see bond prices collapse, stock prices collapse and, most likely, a movement out of the dollar. The dollar is the main source of Washington’s power. So, if the dollar . . . starts going down, this is a disaster for Washington. They may lose the reserve currency status. They would lose the ability to put sanctions on other countries. They would lose the ability to pay their bills by printing dollars. So, the last thing the government wants, and certainly the Fed is part of it, is to see all of this rigged super structure come crashing down because everything would go with it.”

Dr. Roberts goes on to say, “So, why does the Fed keep talking about raising interest rates, and they have been doing this for years? Why do they keep saying that, at some point in the future we are going to raise interest rates? That’s to reassure the currency market that there is not just going to be an endless outflow of dollars and Federal Reserve purchases of bonds to keep interest rates negative, this is just to reassure the currency market that they are going to put a halt to this next September or next June. It is part of keeping the show on the road. It’s part of keeping this rigged system believable. . . . It’s all part of the propaganda campaign.”

On the recent sell off of the market in China, Dr. Roberts says, “Clearly, if the Chinese market is going down, it does suggest the situation in the United States is not that good because so much of the output of China is the off-shore production of American firms for the global market. So, if China’s economy is falling, it implies that the American economy is not doing well either because they can’t buy all the stuff that the American firms are making in China.”

Dr. Roberts has repeatedly called the global economy a “house of cards.” Currently, demand for physical gold and silver is spiking even though prices are falling. What does this mean? Dr. Roberts says, “Some people clearly understand it, and that’s why the demand of gold and silver is so high that it often cannot be met. Right now, for example, the U.S. Mint has suspended all sales of Silver Eagles simply because they cannot get enough silver to manufacture the coins to meet the demand. We see that the gold trusts are being depleted. We see extraordinary amounts of withdrawals from the Shanghai Gold Exchange. So, we know the demand for gold and silver is very, very high.Some people know that, but the financial press operates to disguise what’s going on. The financial press says the reason the demand for coins is so high is the price is falling. What made the price fall? Only two things can cause the price of gold to fall. One has to be a great increase in supplies . . . but that’s not what’s happening, it’s the opposite. . . . The only other thing that could cause the price to fall is a massive decrease in demand. We are seeing a massive increase in demand. The paper market is driving down the price and it’s fraudulent. All these stories are coming out in the press that gold is not money. It’s a pet rock. . . .”

Join Greg Hunter as he goes One-on-One with former top Treasury Department insider Dr. Paul Craig Roberts.

(There is much, much more in the hour long in-depth interview.)

After the Interview:

Dr. Roberts is a prolific writer, and you can find his work and donate to his not-for-profit website atPaulCraigRoberts.org.

Jim Sinclair’s Mineset 8/2

http://www.jsmineset.com/

Posted at 2:29 PM (CST) by & filed under Bill Holter.

Dear CIGAs,

The world is awash with “promises”.  Nearly everything we think of as having “value” is because of a promise behind it.  A few examples;  your bank accounts, retirement funds, bonds and even the dollar bills in your pocket.  Your bank account for example, once you deposit the money it is no longer yours.  You can argue this if you wish but we now know this is true for sure after recent “bail in” legislations passed throughout the west.  When you deposit funds into a bank, it then becomes “their money” held for you …they “owe” it to you.  Do not take this lightly, lawmakers around the world have made this the new reality.  A little known fact, in 1845 Britain passed banking law that made depositors (unsecured creditors), this is still precedent to this day.  When you deposit money you “accept a liability” from your bank and are classified as an unsecured creditor.  In other words, “get in line with everyone else”!

Same thing with many retirement accounts.  Think about Social Security.  When you get your annual statement form, it comes with an asterisk.  This is to inform you they “might need to reduce benefits”.  With any retirement account you are relying on the custodian to make payments to you upon retirement.  Think about state and municipal retirement accounts promising the good life, they are nearly ALL underfunded.  Meaning there is not enough money in there to make (promised) future payments unless some sort of magically higher returns are realized.  These are underfunded by the TRILLIONS of dollars!

Bonds are an obvious asset class where a “promise” is relied on.  Dollars on the other hand seem the most misunderstood by the public while being the biggest leap of faith in all asset classes.  Dollars rely on the “full faith and credit” of the U.S. government (a bankrupt entity) yet the populace sleeps through the night secure knowing they own dollars.  ALL non backed, fiat currencies in the past have failed.  The dollar is the widest spread and widely owned fiat the world has ever known, its failure will be spectacular upon arrival!

I wanted to point out the above “promises” as a basis to speak about trust or confidence.  The financial world turns on the axis of “trust”.  This trust was nearly broken in 2008 and is the reason the Federal Reserve needed to secretly lend $16 trillion all over the world.  If the Fed had not come up with these funds, failures would have spread and trust would have been broken amongst the banks/other financial institutions and even between the central banks themselves!  The Fed’s largesse worked and trust was maintained.

Now, I believe we are set for another “test” of trust.  We have gone five+ years with QE this and QE that, the reality being outright monetization.  In fact, central banks today are buying more sovereign bonds than are even being issued.  The public and even the professional funds have backed away from the debt markets, you can’t blame them because the interest received does not even cover inflation not to mention a risk premium.  Globally the pace of trade and business activity is slowing or even declining which will bring to a head the difficulties in meeting debt service and other “promises”.

I ask, what will happen when inevitably “trust” begins to wane?  Or even fully break?  It is at this point the system goes into “The Great Call”.  Margin call?  Of course, because nearly everything financial has leverage behind it but there is more to it than this.  The “call” I am speaking of is for contracts of all sorts to “perform”.  In particular I am thinking “derivatives” contracts will be called on to perform their contractual duties.

All in all, there are over $1 quadrillion worth of derivatives outstanding.  The problem with this is the “tail” is bigger than the dog. In other words, the amount of derivatives outstanding dwarfs the total amount of money outstanding and thus the ability to “pay” and make good on the contracts.  The other side of this coin are contracts promising to deliver something.  Here I am thinking both gold and silver.  There are far more (100-1 or more) obligations outstanding than there are ounces or kilos available to deliver.  This is a default just waiting to happen.

If you listen to the Harry Dents of the world, the dollar will be the safe haven and where all fear capital will go.  In a world based on nothing but trust and promises, will fear capital really pile INTO a currency based ONLY on trust and promises …when “trust” is exactly what is come into question.  Actually, it can be said the dollar was originally set up in 1971 on a “never pay” model.  The dollar (and bonds) only promise to pay “more dollars” and nothing else.  This game worked for many years, now it looks like the Saudis after doing many deals with both Russia and China may be set to transact in currency other than dollars.  Are they displaying confidence?

The Chinese are now net sellers of U.S. Treasuries.  Ask yourself this question, if China could sell all of their Treasuries and turn it all into gold, silver, oil, copper and other real tangible assets (without destroying the Treasury market or making gold and silver go no offer), would they?  I say yes, they absolutely would love to be out from under their Treasury position.  Apologetic others might say China is comfortable, we will soon see.

Because confidence is the only thing at this point holding the game together …and its fickle nature, it is important for you to think this through.  What will be standing when confidence breaks?  Can banks globally survive “runs” when depositors come calling?  Can commodity exchanges deliver all they promise?  Can borrowers “borrow more” if they cannot redeem past issues with new debt?  This is where we are headed both systemically and globally!

Before finishing I want to tie two connected thoughts together.  First, the great Paul Craig Roberts said last week he feared precious metals could be suppressed forever.  I received MANY fearful e-mails regarding this thought process.  Mr. Roberts would be entirely correct if it were not for one small detail, REAL gold and REAL silver must be available to deliver.  Otherwise the game comes to an end and the fraud is exposed.  He is entirely correct, “price” can be jammed or rammed with enough “margin” posted.  Dan Norcini once upon a time had it correct when he said, nothing will unnerve the shorts more than the longs standing for delivery …and making a call for the product.  I would like to remind you, COMEX currently has only 11.7 tons of gold for delivery.  This is roughly $400 million.  If I were short, this paltry sum would not add to my confidence.

Another thought going hand in hand with this is where we are now versus 2008.  Back then we were within overnight hours of the entire system coming down, this is fact.  What has changed since then?  “Nothing”, but in reality quite a bit.  Nothing has changed from the standpoint of “tools used”.  We have not altered or changed anything that “got us to the brink”… only done more of it!  We have far more debt and more derivatives outstanding now.  In fact, central banks and sovereign nations have even sacrificed their balance sheets to prolong the game.  It has worked …so far.  The only problem is the entire arsenal of the central banks have already been tried and failed to provide the real economy with any stimulus.  The result has been capital pushed into financial markets and blowing the bubble(s) far larger than they were.  Now, we have far larger markets with far more leverage than 2008.  These will need to be met with central banks and sovereign treasuries with weaker balance sheets and almost no ability to borrow in an effort to reflate.  It is a recipe for disaster.

We already know the sovereign debt markets are very thin on the bid side as liquidity has dried up.  We also know equity markets are displaying horrible internal breadth.  China is actually nearing a 1929 scenario and will be there shortly if they cannot steady.  Confidence is a fickle girl, if it breaks, then we go back to the 2008 scenario and we’ll find out just how powerful the central banks really are.  I believe the coming “Great Call” cannot nor will be met and only then will we see what is left standing.  It is imperative here and now to position yourself in assets that do stand on their own, everything else will be a broken promise!

Standing watch,

Bill Holter
Holter-Sinclair collaboration
Comments welcome! bholter@hotmail.com

Posted at 1:38 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Yet the price declines. This is 1978 all over.

Gold imports up 61% at 155 tonnes in April-May
PTI Aug 2, 2015, 11.14AM IST

NEW DELHI: India’s gold imports shot up by about 61 per cent to 155 tonnes in the first two months of the current fiscal mainly due to weak prices globally and the easing of restrictions by the Reserve Bank.

In April-May of the last fiscal, gold imports had aggregated about 96 tonnes, an official said.

In the international market, gold has been trading weak over the past few months. On Friday, it closed at USD 1,095.10 in New York market.

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry.

Large imports of gold impact the country’s current account deficit, which occurs when value of import of goods and services is more than its exports.

The CAD in 2014-15 shrank to 1.3 per cent of GDP ($27.5 billion) from 1.7 per cent ($32.4 billion) in 2013-14.

More…

Posted at 1:31 PM (CST) by & filed under USAWatchdog.com.

Dear CIGAs,

By Greg Hunter’s USAWatchdog.com

Economic researcher and co-founder of Peak Prosperity, Dr. Chris Martenson, says, “Here’s where we are in the larger story. World economies can’t grow anymore, at least not like they used to. We are not going to see 3, 4 or 5 percent real growth. The pie is no longer expanding like it used to, and here’s the problem. The banking overlords got used to a certain take or lifestyle. . . . They became addicted to a certain amount of skim, and when everything is expanding, the banks can skim, and there is enough left over for things like middle class and 401ks to go up and pensions to be funded. When the economy is not growing fast enough, and the skimming continues, then there is not enough left over for other people. That’s where we are in the story. That’s step one. Step two is will the banks convert all of their loans into physical hard assets, and the answer is yes.”

The economy and banks are more debt filled than ever, and Dr. Martenson goes on to point out, “There is one thing we have a lot less of, and that’s trust. I don’t know anybody who loves these markets. Everybody is highly distrustful of them. All of the big money people that I talk with, all them have one foot right next to the exit. Everybody is convinced they will be able to get out just a little faster than the next guy. I think they are mistaken in that regard.   Without that trust, and without that ability that the authorities are going to be able to contain it, I think we could see a very vicious downturn, something that gets out of control of the central planners. . . . Markets have a way of winning out in the end.”

According to Dr. Martenson, watching the Fed to see when or if it will raise interest rates is not what people should be focusing on. Dr. Martenson explains, “Here’s what they should be focusing on. After 6 years of pumping trillions of dollars into the market, do we have the organic growth we need to pay off the loans that are already in circulation? The answer is no, we are not getting the growth. If we are not getting the growth and we have all these structural problems, that’s what people need to be focused on. That’s called reality. . . . You can smell the fear, and they are afraid of this market going down. This is a Franken market of the Fed’s own creation.”

Chris Martenson, who also holds an earned PhD in Toxicology, says watch China because the recent signs are not good. Martenson contends, “You get your early signals from the place that is closest to the true economic action, and China is the center of that. So, to me, watching commodities tank first, gyrations in the Chinese stock market second, says third, you better be prepared for a big deflationary event or a big crash. . . . This is the mother of all crashes because the crash of 2008 was actually a side show. . . . We are going to discover that, like all bubbles, you return from where you started. . . . That means $40 trillion will have to get wiped out in the U.S. market alone.”

More…

Posted at 9:08 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

When all else fails just declare that the records were lost. No problem, and I am sure the investigative media will seek to find the answers. Right? Wrong!

Deutsche Bank “Loses” LIBOR Chat Records; Will Try Hard To Find Them
Submitted by Tyler Durden on 07/31/2015 08:01 -040

Back in April, Deutsche Bank agreed to pay $2.5 billion (or around $25,475 per employee) to the DoJ, the CFTC, the NY Department for Financial Services, and the UK’s FCA in connection with the bank’s role in the global conspiracy to rig LIBOR (and EURIBOR, and TIBOR, but who’s counting). The fine marked the largest LIBOR-related settlement thus far but as usual, regulators stopped short of insisting that the actual human beings responsible for the manipulation of a benchmark upon which trillions in financial assets are based be put behind bars. In other words, no people were held accountable.

That said, we got a faint glimmer of hope on the accountability front when, late last month, FT reported that the German financial watchdog BaFin was looking into whether (former) co-CEO Anshu Jain lied to the Bundesbank about when he first learned that his traders and submitters might have been involved in fixing the LIBOR fixes.

A few weeks later, the full BaFin letter sent to Deutsche Bank was released by WSJ and sure enough, the regulator says very plainly that Jain has “been proven to have learned about discussion in the market concerning the susceptibility of the LIBOR to manipulation in 2008,” despite having told the Bundesbank that he had no such knowledge until at least three years later.

The report also details Jain’s cozy relationship with rate rigger extraordinaire Christian Bittar as well as outlining how it was indeed Anshu Jain who personally oversaw a seating assignment change in 2005 that deliberately placed traders next to submitters in order to facilitate communication between the two. Unsurprisingly, BaFin promptly decided that it was just kidding and that the very thing it was absolutely sure of in May was actually “unsubstantiated” – Jain was subsequently cleared of any malfeasance.

On Thursday, WSJ reported the latest absurd twist in the Deutsche Bank LIBOR manipulation saga. Apparently, just one month after the April settlement with regulators, the bank said it had “lost” records of chats between employees dating back to 2005. Deutsche Bank couldn’t say how many chats might have disappeared, and although the bank promised to try very hard to recover them, it did concede that unfortunately, they may be lost forever which could mean that its disclosures in connection with the settlement are incomplete. Here’s more:

A month after reaching a $2.5 billion settlement over interest rate rigging, Deutsche Bank AG told regulators its disclosures may have been incomplete because it accidentally failed to archive electronic chats involving its employees, people familiar with the matter said.

More…

 

Jim Sinclair’s Commentary

When you put it on the internet, it is there for all time.

Executive arrested over disappearance of $390 million in Bitcoins
Mark Karpeles, head of collapsed MTGox Bitcoin exchange held by Japanese police
4:46AM BST 01 Aug 2015

Japanese police on Saturday arrested Mark Karpeles, head of the collapsed MtGox Bitcoin exchange, over the disappearance of about $390 (£250 million) worth of the virtual currency, local media said.

France-born Karpeles, 30, is suspected of having accessed the exchange’s computer system and falsifying data on its outstanding balance, Kyodo News and public broadcaster NHK said.

The global virtual currency community was shaken by the shuttering of MtGox, which froze withdrawals in February 2014 because of what the firm said was a bug in the software underpinning Bitcoin that allowed hackers to pilfer them.

Police did not immediately confirm Karpeles’ arrest but local television footage showed authorities taking him into custody.

The exchange – which once boasted of handling around 80 percent of global Bitcoin transactions -filed for bankruptcy protection soon after the cyber-money went missing, admitting it had lost 850,000 coins worth 48 billion yen ($387 million at today’s exchange rate).

More…

Posted at 6:11 PM (CST) by & filed under Jim’s Mailbox.

Jim,

For the past 5 years I have searched and wondered about the price of homes in Canada that were at levels above those seen in the US back in 2006 and 2007. In order for the homes shown on various Canadian real estate programs to get the $600,000 to $800,000 mortgages necessary, the average Canadian would have to be earning $50,000 to $100,000 more than the average American to qualify for the mortgage and what do you know, up pops the genie, “Liar Loans.” We certainly train our fellow Western countries well on the fine art of lying, concealing and covering up the truth. Australia is in the same shape as Canada.

CIGA Larry M

Liar Loans Pop up in Canada’s Magnificent Housing Bubble
Submitted by testosteronepit on 07/30/2015 23:58 -0400

Wolf Richter www.wolfstreet.com www.amazon.com/author/wolfrichter

For a long time, the conservative mortgage lending standards in Canada, including a slew of new ones since 2008, have been touted as one of the reasons why Canada’s magnificent housing bubble, when it implodes, will not take down the financial system, unlike the US housing bubble, which terminated in the Financial Crisis.

Canada is different. Regulators are on top of it. There are strict down payment requirements. Mortgages are full-recourse, so strung-out borrowers couldn’t just mail in their keys and walk away, as they did in the US. And yada-yada-yada.

But Wednesday afterhours, Home Capital Group, Canada’s largest non-bank mortgage lender, threw a monkey wrench into this theory.

Through its subsidiary, Home Trust, the company focuses on “alternative” mortgages: high-profit mortgages to risky borrowers with dented credit or unreliable incomes who don’t qualify for mortgage insurance and were turned down by the banks. They include subprime borrowers.

More…

Posted at 4:24 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Mr. Williams shares the following with us.

- U.S. Economic Activity Was Just Downgraded; Historical GDP Numbers Were Revised Meaningfully Lower; Second-Half 2012 Now Is Shown at Near-Recession
– Post-2007 Economic History Slowly Is Taking on a Revised Pattern of a Multiple-Dip Economic Collapse
– Unfolding “New” Recession Remains Very Much in Play
– Despite Below-Consensus 2.3% Second-Quarter Growth, Benchmarked GDP Level Was Below Prior Reporting for First-Quarter GDP
– First-Quarter GDP Revised to Small Gain from Minor Decline, but Broader First-Quarter GNP Remained in Headline Contraction

“No. 739: Second-Quarter GDP and Benchmark Revision, Velocity of Money”
Web-page: http://www.shadowstats.com

Earnings Shocker: Quarterly Increase In Wages Is Smallest On Record
Submitted by Tyler Durden on 07/31/2015 08:40 -0400

The quarterly increase in US wages was just 0.2% – a third of the 0.6% rise expected – and a meager 2% increase Y/Y in line with all the other depressed BLS data, which dashes the “wage growth is looming” meme and crushed the 0.7% rise in Q1 that had so many hopeful of escape velocity any day now.

Because the ECI tracks the same job over time, it removes shifts in the mix of workers across industries, which is a shortcoming of the hourly earnings figures, which makes this number even more of a disaster. This is the weakest US wage growth since records begain in 1982 and half as slow as the weakest of 57 economist estimates.

As Bloomberg notes,

Fed officials are “still looking at a lot of slack remaining in the job market,” Scott Brown, chief economist at Raymond James Financial Inc. in St. Petersburg, Florida, said before the report. “If the numbers sort of fall back a bit, that might push the Fed toward a later rate increase than September.”

The median forecast of 57 economists surveyed projected a 0.6 percent increase for the total ECI index. Last quarter’s reading was lower than all estimates, which ranged from increases of 0.4 percent to 0.8 percent. The gauge measures employer-paid taxes such as Social Security and Medicare in addition to the costs of wages and benefits.

This was lower than the lowest economist estimates:

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But… but… they promised…

More…

Posted at 4:21 PM (CST) by & filed under Jim’s Mailbox.

Jim,

The proof should not lie in physical records. It should lie in visible actions.

This premise would be well suited in all determinations of justice:  Civil proceedings amongst the general population, as well as financial firms and political personalities.

The judicial system has made it almost impossible to convict anyone without physical proof, and that proof is made almost impossible to obtain without going through a maze of legal entanglements (court orders, warrants, tainted evidence, etc).

Even if the perpetrator had admitted to the crime, or the crime is 100% obvious, no case is a slam dunk anymore.

We see this as being pervasive throughout the world.

Deutsche bank loses records, HFT records supposedly untrackable, Hillary Clinton’s missing emails and documents, manipulation of all markets, etc.

The burden of proof has become too great to enforce justice properly!

Sorry to say this, but lawyers make the laws, and make them so complex and convoluted that it is impossible now to go through life without their services (similar to the IRS… tens of thousands of pages of rules that make it impossible to file taxes without tax attorneys at your side every moment).

It is no longer a system where people are judged by their peers, but by the skill and effectiveness of their legal representation.  And we all know, more money buys more skill.  Therefore the poor are stuck with inexperienced court appointed representation vs the best esquires the rich can afford.

CIGA Wolfgang Rech

Deutsche Bank “Loses” LIBOR Chat Records; Will Try Hard To Find Them
Submitted by Tyler Durden on 07/31/2015 – 08:01

Deutsche Bank says a “software glitch” caused an “unknown” number of electronic chats dating back to 2005 to be deleted (possibly forever), a “mistake” that could endanger the bank’s record $2.5 billion LIBOR settlement with regulators.

More…

Dear Mr. Sinclair,

Could you please address Dr. Roberts’ statement on USA Watchdog that the gold and silver manipulation will never end as the unlimited funding will keep it this way until the abandonment of the dollar, which could be a long time away?

CIGA George

George,

As in the 1970s, the time will come when the manipulators have, in their minds, exhausted the downside and will profit the most in the shortest period of time from the long side just like in 1978 to 1980.

Respectfully yours,
Jim

Sunday Morning 8/2

Ron Paul: “All Wars Are Paid For Through Debasing The Currency”

“…seen from the proper angle, the dollar is revealed to be a paper thin instrument of warfare, a ripple effect on the people, a twisted illusion, a weaponized money now engaged in a covert economic warfare that threatens their very livelihood.”

11 Red Flags As We Enter The Pivotal Month Of August 2015

Things are unfolding in textbook fashion for another major global financial crisis in the months ahead, and yet most people refuse to see what is happening.  In their blind optimism, they want to believe that things will somehow be different this time.  Well, the coming months will definitely reveal who was right and who was wrong.  The following are 11 red flag events that just happened as we enter the pivotal month of August 2015…

Chinese Company Replaces Humans With Robots, Production Skyrockets, Mistakes Disappear

“The robots have produced almost three times as many pieces as were produced before. According to the People’s Daily, production per person has increased from 8,000 pieces to 21,000 pieces. That’s a 162.5% increase.”

Venezuela Increasingly Looks Like A War Zone

While mocking socialist paradises everywhere is a recurring theme especially once they have completely run out of other people’s money to burn through, what always follows next is far less amusing – complete social collapse, with riots, civil war and deaths not far behind. That is precisely what the video shown below has captured. In the clip, a demonstration against Venezuela’s poor transportation services quickly turned violent. End result: one person dead from a gunshot wound, more than 80 arrested and four shops looted on the Manuel Piar Avenue in San Felix.

Are We Being Forced Into A “Second American Civil War”… If So, Who Will Win?

A report from the U.S. Army War College discusses the use of American troops to quell civil unrest brought about by a worsening economic crisis. The report from the War College’s Strategic Studies Institute warns that the U.S. military must prepare for a “violent, strategic dislocation inside the United States” that could be provoked by “unforeseen economic collapse” or “loss of functioning political and legal order.” [The report also warns of a possible “rapid dissolution of public order in all or significant parts of the US.”]

JUDGE WHO BLOCKED PLANNED PARENTHOOD VIDEOS IS OBAMA APPOINTEE AND RAISED $230,000 FOR OBAMA

A federal judge late Friday granted a temporary restraining order against the release of recordings made at an annual meeting of abortion providers. The injunction is against the Center for Medical Progress, the group that has unveiled Planned Parenthood’s participation in the sale of organs harvested from aborted children. Judge William H. Orrick, III, granted the injunction just hours after the order was requested by the National Abortion Federation.

Russia Shoots Down US Stealth Coup

from Land Destroyer.blogspot:   Times are tough for America’s “color revolution” industry. Perfected in Eastern Europe after the fall of the Soviet Union, and honed during the so-called “Arab Spring,” the process of backing subversion in a targeted country and overthrowing a sitting government under the cover of staged mass protests appears to be finally at the end of running its course.  That is because the United States can no longer hide the fact that it is behind these protests and often, even hide their role in the armed elements that are brought in covertly to give targeted governments their final push out the door. Nations have learned to identify, expose, and resist this tactic, and like Adolf Hitler and the Nazi regime’s tactic of Blitzkrieg or “lighting war,” once appropriate countermeasures are found, the effectiveness of lighting fast, overwhelming force be it military or political, is rendered impotent.  Read More

This is What We’ve Been Waiting for, the True Recovery of the American Economy

from Wolf Street:   Equifax, which profits from the process when more people apply for credit and load up on debt, sees the miracles of the current economy this way: “American consumers continue to show signs they are recovering from the Great Recession by steadily increasing their credit card debt….”  In its report on credit card debt, Equifax raved about these newly empowered American consumers that are once again buying things they can’t afford and charging these purchases to their credit cards because they didn’t have enough money to pay for them otherwise, given their stagnating salaries. It shows up in the numbers:  Read More

Puerto Rico To Default After Missing Payment

from Reuters:   Puerto Rico will miss a payment on debt due Aug. 1, the governor’s chief of staff said on Friday, an event that will be considered a default by investors as the commonwealth lurches towards what could be one of the largest U.S. municipal debt restructurings in history.  The island faces a number of debt payments that day but had signaled in recent weeks that it may miss the $58 million payment on Public Finance Corporation (PFC) bonds. “Tomorrow is Aug. 1 and we don’t have the money,” Puerto Rico’s governor’s chief of staff Victor Suarez told journalists in San Juan. “The PFC payment will not be made this weekend. It was not consigned.”

The Most Evil Government In American History

by Michael Snyder, End of the American Dream:   America is not a great nation, and it hasn’t been for a very long time.  Any government that gives hundreds of millions of dollars each year to an organization that systematically murders babies, harvests their internal organs and ships them off to laboratories where they are used in experiments can hardly be called “great”.  Back in the 1980s, Ronald Reagan referred to the Soviet Union as “the evil empire”, but today it is the Russians that are calling us “evil” and “godless”.  And you know what?  When Vladimir Putin called us “godless” he was 100 percent correct.  Someday when history judges us, we will fully deserve to be mentioned in the same breath as Stalin’s Russia, Mao’s China and Hitler’s Germany.  Our consciences have been so seared that we have absolutely no sense of perspective anymore.  We get all bent out of shape over the killing of Cecil the Lion in Zimbabwe, but the trafficking of the body parts and internal organs of millions of our own babieshardly elicits any reaction at all.  Yes, the killing of that lion in Zimbabwe was a horrible crime, and I hope that dentist is held accountable for it.  Read More…

Man Who Predicted In Televised Debate That Swiss National Bank Would See Staggering Losses Now Warns Fed To Experience Massive Losses As Well

from Kingworldnews:  Humpty Dumpty, in the guise of Greece, just had another big fall. And I can guarantee you that all the King’s horses and all the King’s men couldn’t put Greece back together again. The IMF, an important part of the troika, made clear that they are not backing the attempt to give Greece a few more months of life support.  And if the IMF doesn’t back support for Greece, neither will Germany. So the whole rescue will fail.  But it’s not just Greece that cannot be put together, it’s the whole world. The whole world is broken and it cannot be mended. How can anyone expect the politicians, who created a total disaster in the world economy, to ever put it back together again? Politicians don’t have a clue how to run a country, much less how to solve the world’s problems. Egon von Greyerz Continues @ King World News

North Carolina pushing bill to eliminate free speech, prohibit sharing of nutritional information for sick children

by Anna McPhee, Natural News:  The same folks in North Carolina that tried to sue blogger Steve Cooksey simply for sharing information online about how to treat diabetes naturally are now going after all speech related to health and nutrition.  The North Carolina Board of Dietetics/Nutrition (NCBDN) has launched an all-out assault against free speech with its antithetically named “Modernize Dietetics/Nutrition Practice Act,” or House Bill 796, which would make it a crime to share health advice or food strategies with non-family members who are suffering from health conditions.  Continue reading North Carolina pushing bill to eliminate free speech, prohibit sharing of nutritional information for sick children

Obama Fumes As Iran Publishes ‘Palestine’, An Anti-Israel Book That Could Sink Nuclear Treaty Deal

by Geoffrey Grider

While Secretary of State John Kerry and President Obama do their best to paper over the brutality of the Iranian regime and force through a nuclear agreement, Iran’s religious leader has another issue on his mind: The destruction of Israel.

Department Of Homeland Security Preparing To Unleash Surveillance Robots Across America

by Geoffrey Grider

The Department of Homeland Security has sent an intelligence assessment to police agencies across the country about drones being used as weapons in an attack.

 

 

 

Where Does Your Food Come From?

*Smithfield Ham and other bad food*

Smithfield Farms, the largest pork producing farm in the USA was sold in
September to China with the unanimous support of its stockholders!! The
hogs will still be raised here, but slaughtered and packaged for sale
there
before being sent back here. This includes labels of:

Morrell
Eckrich
Krakus
Cudahy
Premium Hams
Cook’s
Gwaltney

The same with many chickens. They can now be shipped there, but when they
come back all that needs to be labeled is that they WERE RAISED IN THE
USA.  Not that they were processed in China!

Our great FDA at work again. The chickens will be all processed and most
sold to fast food restaurants for sandwiches, along with schools and
supermarkets.  The China slaughter and processing are not nearly equal to
the requirements here.

**BAD FOOD.**

We recently learned that Starkist Tuna is now owned by Korea, and is in
big
conflict with the U.S. concerning quality, safety, and records, which
Korea
refuses to produce.

Read several articles on Google about this, and even one that was
defending
the eating of tilapia said to avoid the fish that came from China?

Also, I had just returned home from buying Albertson’s 4-day special of 4
bags of frozen tilapia for the price of one?  Sure enough, on the top of
the bags, it read “farm raised”, and on the bottom in small print it said,
“China”.  Read all the way to the end.

Recently a Food inspector on TV… said he had lived overseas and he had
seen the filthy conditions their foods are raised and processed in.  It is
enough to make you throw up.  Some foreign workers have to wear masks as
they work in these places, because the food is so rotten and filthy, it
makes them want to throw up.  Many of their fish on Fish Farms are fed raw
sewage daily.  He said he has seen so much filth throughout their food
growing and processing that he would “never” eat any of it.  They raise
this filth, put some food coloring and some flavorings on it, and then
they
ship it to the USA & Canada for YOU to consume and feed to YOUR families.
They have no Food & Safety Inspectors.  They ship it to you to buy and
poison your families and friends.

Imported food we eat and the junk we buy: Green Giant frozen vegetables
are
from China, and so are most of Europe’s Best.  Arctic Gardens are OK so is
Birdseye.

*Never buy the grocery store garlic* unless it is clearly marked from USA
or Canada*, the other stuff is grown in people poop (even worse than
chicken poop).  China is the largest producer of garlic in the world; U.S.
is next.

*Buy only local honey*, much honey is shipped in huge containers from
China
and re-packed here. Cold-FX is grown and packed in China and is full of
fecal bacteria. Doesn’t work anyway, big scam. If the country of origin is
not clearly marked, beware. If produce, ask an employee.

Watch out for packages which state “prepared for”, “packed by” or
“imported
by”.  We don’t understand the lack of mandatory labeling, especially the
produce. The country of origin should be clearly shown on the item in the
store. Go to the local farmers’ markets in season and keep a wary eye open
the rest of the year.

Please read this very carefully, and read to the very bottom.  It’s
important for all of us. How is it possible to ship food from China
cheaper
than having it produced in the U. S. or Canada?

FOR EXAMPLE THE “OUR FAMILY” BRAND OF MANDARIN ORANGES SAYS RIGHT ON THE
CAN ‘FROM CHINA’. – SO, for a FEW MORE CENTS, BUY THE *LIBERTY* BRAND.

*GOLD BRAND or DOLE is from CALIFORNIA*.

Beware, Costco sells canned peaches and pears in a plastic jar that come
from China.

ALL “HIGH LINER” AND MOST OTHER FROZEN FISH PRODUCTS COME FROM CHINA OR
INDONESIA.  THE PACKAGE MAY SAY “PACIFIC SALMON” ON THE FRONT, BUT LOOK
FOR
THE SMALL PRINT.  MOST OF THESE PRODUCTS COME FROM FISH FARMS IN THE
ORIENT
WHERE THERE ARE NO REGULATIONS ON WHAT IS FED TO THESE FISH.

*Recently the Montreal Gazette had an article* by the Canadian Government
on how Chinese feed the fish: They suspend chicken wire crates over the
fish ponds, and the fish feed on chicken poop.

If you search the internet about what the Chinese feed their fish, you’ll
be alarmed; e.g.: growth hormones, expired anti-biotic from humans? Never
buy any type of fish or shellfish that comes from these countries:

Vietnam
China
Philippines

Check this out personally.

Steinfeld’s Pickles are made in India – just as bad! Another example is in
canned mushrooms.  No-Name brand came from Indonesia. Also check those
little fruit cups.  They used to be made in Canada in the Niagara region
until about 2 years ago.  They are now packaged in China.  Most sold in
Aldi stores.

While the Chinese export inferior and even toxic products, dangerous toys,
and goods to be sold in North American markets, the media wrings its
hands!  Yet, 70% of North Americans believe that the trading privileges
afforded to the Chinese should be suspended. Well, duh!  Why do you need
the government to suspend trading privileges?

SIMPLY DO IT YOURSELF, CANADA and the U.S.
Simply look on the bottom of every product you buy, and if it says ‘Made
in
China’ or ‘PRC’ (and that now includes Hong Kong), simply choose another
product, or none at all.  You will be amazed at how dependent you are on
Chinese products, and you will be equally amazed at what you can do
without.

THINK ABOUT THIS
If 200 million North Americans refuse to buy just $20 each of Chinese
goods, that’s a billion dollar trade imbalance resolved in our favor fast!
The downside?  Some Canadian/American businesses will feel a temporary
pinch from having foreign stockpiles of inventory.
Just one month of trading losses will hit the Chinese for 8% of their
North
American exports.  Then they will at least have to ask themselves if the
benefits of their arrogance and lawlessness are worth it.

* START NOW and don’t stop, and tell your friends *
Send this to everybody you know.  Let’s show them that we are intelligent,
and NOBODY can take us for granted.  *Start reading labels more closely
and
buy something else even if it cost a few cents more*. Now, if the
commercial food buyers for restaurants would do the same thing, we could
change the way other countries process the food & produce they sell us!

Video Proof: Feds Post Letters Identifying Preppers As Potential Terrorists: “Individuals or groups making bulk purchases…”

http://www.shtfplan.com/headline-news/video-proof-feds-post-letters-identifying-preppers-as-potential-terrorists-individuals-or-groups-making-bulk-purchases_07312015

In 2011 Rand Paul stood on the floor of Congress and delivered a stark warning to Americans. To criticisms of sensationalism and embellishment, Paul noted that Federal laws on the books characterize those who have guns, seven days worth of food or ammunition in their homes as potential terrorists.

Know good and well that some day there could be a government in power that is shipping its citizens off for disagreements… Someone who has guns, someone who has ammunition that is weatherproofed, someone who has more than seven days of food in their house can be considered a potential terrorist.

If you are suspected by these activities do you want the government to have the ability to send you to Guantanamo Bay for indefinite detention?

It was a shocking statement and one that was dismissed as the rantings of another right-wing extremist who just so happened to be a Senator.

But footage posted by Washington Weekly News shows that not only was Rand Paul’s assessment accurate, it only brushed the surface of what domestic intelligence agencies consider suspicious or terroristic activity.  According to the report, a WWN journalist with camera in hand visited local businesses to acquire video evidence of various government signage. What he found was shocking:

New York’s Division of Homeland Security is posting signs on businesses to encourage people to snitch on fellow citizens who buy such things as MRE’s (Meals Ready to Eat), ammunition, flash lights, match containers, gas masks and other items deemed to be ‘prepper’ in nature.

Surplus store in Auburn, NY tell us how a state trooper put up a flyer in their window which encourages customers to call the New York State Terrorism Tips Line to report this ‘suspicious activity’ under the as part of the “See Something, Say Something” campaign.

The sign in question, as well as the accompanying letter to the local business, can be seen in the video below.

New York State law enforcement has been communicating with communicating with a widerange of corporations, businesses and industries throughout the state… With this program the Office of Counterterrorism seeks to establish a procedure that may be helpful in reporting information and circumstances that appear unusual or suspicious to you, your employees or members of your respective professional association…

Individuals or groups making bulk purchases of items including weathproof ammunition, match containers, MRE’s, night vision equipment, night flashlights, gas masks…

As noted by Washington Weekly News, all of these items are legal to purchase, yet citizens who see you doing so are urged to report your activities to law enforcement officials or the Department of Homeland Security.

What’s curious is that the very government telling people to spy on their fellow countrymen has itself been engaging in these same activities through the acquisition of massive amounts of Meals-Ready-To-Eat, guns, billions of rounds of ammunition, gas masks, riot gear, and a host of other supplies being regionalized at DHS centersacross the country.

Moreover, they have been actively preparing for widespread economic collapse and civil unrest scenarios, including the Jade Helm 15 exercises that are reportedly designed to “Master the Human Domain,” an operation that involves training military personnel for the rounding up of subversives and dissidents.

In fact, according to one Texas Ranger, the Federal government already has trains on standby, complete with shackles, ready to detain and transport prisoners.

The connection is clear – the government is asking citizens to rat each other out so that they can be marked on terror watchlists, and should a national emergency ever be declared, individuals and their families could be rounded up under Doomsday Executive Orders.

And if people like General Wesley Clark have their way, they’ll be held indefinitely in internment camps or worse.

They, as in operational managers at the highest level of government, know what is coming. They have spent trillions of dollars on everything from deep underground bunkers to the stockpiles that are being hidden away in them.

These facts cannot be disputed.

This implies that a catastrophic event of some sort is believed by the government’s emergency planning apparatus to be imminent.

Thus, despite the continued marginalization of those who are sounding the alarm bells, we maintain that Americans need to be preparing for a worst case scenario that could potentially disrupt our power grids, our systems of commerce, and essentially bring life in America the way we have come to know it to a destructive end.

Prepare now – and prepare for a variety of potential disasters – because whatever it is that they are planning for could be extremely serious and long-term.

Also Read:

All Aboard the Auschwitz Express: “People Don’t Want to Believe It”

Texas Ranger Drops Jade Helm Bombshell: “There Are Trains With Shackles On Them”

Government Is “Simulating the Collapse of Our Financial System, the Collapse of Our Society and the Potential for Widespread Violence”

Obama Approves Substantial Expansion of Terrorist Watch Lists: “Concrete Facts Are Not Necessary”

The Prepper’s Blueprint: A Step-By-Step Guide To Prepare For Any Disaster

Jim Sinclair’s Mineset 7/31

Posted at 4:24 PM (CST) by & filed under In The News.

Jim Sinclair’s Commentary

Mr. Williams shares the following with us.

- U.S. Economic Activity Was Just Downgraded; Historical GDP Numbers Were Revised Meaningfully Lower; Second-Half 2012 Now Is Shown at Near-Recession
– Post-2007 Economic History Slowly Is Taking on a Revised Pattern of a Multiple-Dip Economic Collapse
– Unfolding “New” Recession Remains Very Much in Play
– Despite Below-Consensus 2.3% Second-Quarter Growth, Benchmarked GDP Level Was Below Prior Reporting for First-Quarter GDP
– First-Quarter GDP Revised to Small Gain from Minor Decline, but Broader First-Quarter GNP Remained in Headline Contraction

“No. 739: Second-Quarter GDP and Benchmark Revision, Velocity of Money”
Web-page: http://www.shadowstats.com

Earnings Shocker: Quarterly Increase In Wages Is Smallest On Record
Submitted by Tyler Durden on 07/31/2015 08:40 -0400

The quarterly increase in US wages was just 0.2% – a third of the 0.6% rise expected – and a meager 2% increase Y/Y in line with all the other depressed BLS data, which dashes the “wage growth is looming” meme and crushed the 0.7% rise in Q1 that had so many hopeful of escape velocity any day now.

Because the ECI tracks the same job over time, it removes shifts in the mix of workers across industries, which is a shortcoming of the hourly earnings figures, which makes this number even more of a disaster. This is the weakest US wage growth since records begain in 1982 and half as slow as the weakest of 57 economist estimates.

As Bloomberg notes,

Fed officials are “still looking at a lot of slack remaining in the job market,” Scott Brown, chief economist at Raymond James Financial Inc. in St. Petersburg, Florida, said before the report. “If the numbers sort of fall back a bit, that might push the Fed toward a later rate increase than September.”

The median forecast of 57 economists surveyed projected a 0.6 percent increase for the total ECI index. Last quarter’s reading was lower than all estimates, which ranged from increases of 0.4 percent to 0.8 percent. The gauge measures employer-paid taxes such as Social Security and Medicare in addition to the costs of wages and benefits.

This was lower than the lowest economist estimates:

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But… but… they promised…

More…

Posted at 4:21 PM (CST) by & filed under Jim’s Mailbox.

Jim,

The proof should not lie in physical records. It should lie in visible actions.

This premise would be well suited in all determinations of justice:  Civil proceedings amongst the general population, as well as financial firms and political personalities.

The judicial system has made it almost impossible to convict anyone without physical proof, and that proof is made almost impossible to obtain without going through a maze of legal entanglements (court orders, warrants, tainted evidence, etc).

Even if the perpetrator had admitted to the crime, or the crime is 100% obvious, no case is a slam dunk anymore.

We see this as being pervasive throughout the world.

Deutsche bank loses records, HFT records supposedly untrackable, Hillary Clinton’s missing emails and documents, manipulation of all markets, etc.

The burden of proof has become too great to enforce justice properly!

Sorry to say this, but lawyers make the laws, and make them so complex and convoluted that it is impossible now to go through life without their services (similar to the IRS… tens of thousands of pages of rules that make it impossible to file taxes without tax attorneys at your side every moment).

It is no longer a system where people are judged by their peers, but by the skill and effectiveness of their legal representation.  And we all know, more money buys more skill.  Therefore the poor are stuck with inexperienced court appointed representation vs the best esquires the rich can afford.

CIGA Wolfgang Rech

Deutsche Bank “Loses” LIBOR Chat Records; Will Try Hard To Find Them
Submitted by Tyler Durden on 07/31/2015 – 08:01

Deutsche Bank says a “software glitch” caused an “unknown” number of electronic chats dating back to 2005 to be deleted (possibly forever), a “mistake” that could endanger the bank’s record $2.5 billion LIBOR settlement with regulators.

More…

Dear Mr. Sinclair,

Could you please address Dr. Roberts’ statement on USA Watchdog that the gold and silver manipulation will never end as the unlimited funding will keep it this way until the abandonment of the dollar, which could be a long time away?

CIGA George

George,

As in the 1970s, the time will come when the manipulators have, in their minds, exhausted the downside and will profit the most in the shortest period of time from the long side just like in 1978 to 1980.

Respectfully yours,
Jim

8 Dead Doctors, 5 Missing. You Wont Believe What They Knew, Who They Encountered And Why They Were Targeted! (VIDEO)

http://www.thesleuthjournal.com/8-dead-doctors-5-missing-you-wont-believe-what-they-knew-who-they-encountered-and-why-they-were-targeted-video/

Over the past few years there have been countless reports of dead bankers and scientists, however just this past month eight doctors have been found dead and five have gone missing after run-ins with the Feds. Including a doctors who linked vaccinations as a cause of autism and holistic doctors.

Is this all just a “coincidence” considering California’s passage of the forced vaccination law? Is it all just a “coincidence” that these doctors just so happen to be murdered the same time that Florida Senator, Frederica S. Wilson, introduces her draconian legislation to force children in public schools to be fully vaccinated? If not then why were five of the murdered doctors linked to the state of Florida, the very state of Frederica Wilson? I believe we have a conspiracy on our hands…

Eight Doctors Who Are Dead (Five Linked to Florida):

1- June 19th, 2015- Dr. Jeff Bradstreet a former resident of East Coast Florida who practiced in Georgia, was found dead with a gunshot wound to the chest in a river. His death was ruled suicide. He was a staunch opponent to vaccinations and avid autism researcher. He believed vaccinations were linked to autism and he proved it. Some believe he even found the cure to autism.

Dr. Jeff Bradstreet

2- June 21st, 2015 (Fathers Day) – Dr. Baron Holt a chiropractor who was found dead on Florida’s East Cost, but no cause of death has been listed. He practiced in North Carolina and attended college in Port Orange, Florida.

Dr. Baron Holt

3- June 21st, 2015- Dr. Bruce Hedendal DC PhD another chiropractor who was found dead on Florida’s East Cost but no cause of death has been listed. He lived in Boca Raton, Florida and overcame a tax-envision conviction.

Dr. Bruce Hedendal

4- June 29th, 2015 – Holistic doctor Teresa Sievers MD was found murdered in her home in Florida. 

doctor Teresa Sievers

5- July 19th, 2015 – OBGYN Dr. Ronald Schwartz, MD, was found murdered in his home in Florida. 

Dr. Ronald Schwartz

6- July 10th, 2015 – Osteopathic Doctor Lisa Riley was found in her home in Lee County Georgia, just a few hours from Florida, with a gunshot wound to her head. She was reportedly killed by her husband.

Doctor Lisa Riley

7- July 19th, 2015 – Doctor Amanda Crews from Modesto, California was murdered along with four others in her home.

Doctor Amanda Crews

8- July 21st, 2015- Dr. Nicholas Gonzalez, a prominent New York alternative Cancer Doctor dies of Heart Attack.

Gonzalez

Five Doctors Gone Missing:

1- June 19th, 2015 – Three doctors were traveling to the State Capital in Mexico and went missing that day. Authorities claim they found the bodies but family members say they look nothing like them.

2- July 3rd, 2015 – Dr. Patrick Fitzpatrick MD went missing. He was traveling from North Dakota, to neighboring Montana. His truck and trailer were found on the side of the road.

3- June 29th, 2015 – Dr. Jeffrey Whiteside MD a pulmonologist went missing, he was known for his successful treatment of lung cancer. He disappeared in Wisconsin while on vacation.

 

For More Information See:

http://yournewswire.com/body-of-doctor-who-linked-vaccines-to-autism-found-floating-in-river/

http://www.healthnutnews.com/fifth-holistic-alternative-doctor-33-found-dead-in-florida-making-5-dead-and-5-more-missing-doctors/

http://www.naturalblaze.com/2015/07/5th-doctor-age-33-died-in-florida.html

7th Doctor: http://www.people.com/article/quintuple-murder-victim-amanda-crews-had-a-heart-of-gold

Proposed Legislation: https://www.congress.gov/bill/114th-congress/house-bill/2232

California SB277: http://www.sb277.org/