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In the last 24 hours
Philippe Herlin - GoldBroker
IMF Confirms European Banking Sector Still Getting Worse
Let’s go back to the IMF’s Global Financial Stability Report that we mentioned last week, but this time let’s take a look at the first chapter, in the section regarding european banks (starting at page 39). And the international institution’s assessment is rather worrisome because, it says, the number of non-performing loans on the european banks’ balance sheets has doubled since 2009, going from 400 to 800 billion euros. Of course, as can be expected, most of those banks are from the most indeb
Thursday, April 17, 2014
Daniel Amerman - SafeHaven
Bail-Ins and Real Assets vs Liability-Based As...

Thursday, April 17, 2014
More than 24 hours ago
John Browne - Euro Pacific Capital
Investors Ignore Frightful Geopolitics 
When the former Soviet Union collapsed almost 25 years ago, most global strategic forecasters assumed that the U.S. would adapt pragmatically to her new status of sole world superpower. Instead she has pursued a variety of misguided nation-building adventures and has largely shrunk from her primary responsibility of neutralizing the ambitions of petty dictators around the world. From this perspective, America's multi-generational expenditures on military personnel and equipment has become more o
Thursday, April 17, 2014
David Chapman - SafeHaven
The Disappearing Jobs!

Thursday, April 17, 2014
John Rubino - Dollar Collapse
Amazing Story From Japan 
Here's something you don't see very often: For a day and a half this week, the Japanese government's benchmark 10-year bonds attracted not a single successful private sector bid. At today's artificially-depressed yields, no one wants this paper -- except of course the Bank of Japan, which is buying up the bonds with newly-created yen. As the Gulf Times noted: Japan bond market liquidity dries up as BoJ holding crosses ¥200tn The Bank of Japan's massive purchases of governmen
Thursday, April 17, 2014
Wolf Richter
  What the Heck is Going on With US Treasuries In Belgium? 
The tiny country of Belgium – my beloved hunting grounds for three years a while back – with a GDP of $484 billion, a country which you can cross by bicycle in a single day if you're really fit, a country that became famous to the chagrin of some people because it did just fine for a couple of years without a national government – well, that tiny speck of land is starting to grow an enormous mountain of US Treasury Securities. In February, according to data just released by the US Treasury Depar
Thursday, April 17, 2014
Jay Taylor - Kitco
A Slow-Coming Train Wreck!

Thursday, April 17, 2014
Gordon Long - Market Analytics
Dohmen: What the Technicals Tell Us! Part II
Bert called the recent market weakness and sell off on CNBC Asia on March 23rd. He said it was going to be a race between Wall Street getting the backlog of IPO's out and the market caving in. He was very specific in identifying the extreme warning signals in the NASDAQ and Small Cap stocks and the identification of a key reversal on March 21st in the S&P. A key reversal day which he feels is always seen at major tops. Though
Thursday, April 17, 2014
John Rubino - Dollar Collapse
When Earnings Disappoint In A Market Priced For Perfection
After today's market close there was a flurry of earnings announcements, some of which were way low. Not bad, mind you. In fact they were pretty good. But because Wall Street analysts were expecting more in order to justify current stock prices, the disappointments led to big price declines in the aftermarket: Google shares fall on earnings miss; IBM's on revenue miss SAN FRANCISCO (MarketWatch) -- Google Inc. shares fell in the extended session Wednesday after the company's q
Thursday, April 17, 2014
Steve Saville - Speculative Investor
US Monetary Inflation Slowdown
On the US monetary inflation front, the news is that there isn't much in the way of news. As depicted below, the year-over-year rate of TMS (True Money Supply) growth hit a 5-year low of around 7% at the end of last year and has since edged a little higher.There are only two ways that money can be added to the US money supply. The first is via Fed asset monetisation, which is how most new US dollars have come into existence since September of 2008 and how almost all new US dollars came into exis
Wednesday, April 16, 2014
Michael Pento - Delta Global Advisors
Fed Rigs Markets, Not the Flash Boys 
There's been a lot of attention being paid to high frequency trading (HFT) as of late. The question has been raised as to whether or not HFT rigs markets. It is true that HFT adds nothing to GDP and is simply a legalized form of high-tech front running. However, the real problem with the stock market -- and the economy as a whole -- isn't the fact that HFT skims pennies off transactions from institutional traders; but rather that the Fed has rigged interest rates and asset prices to
Tuesday, April 15, 2014
Mike Whitney - Counterpunch
Is Putin Being Lured Into a Trap?

Tuesday, April 15, 2014
Louis James - Casey Research
How I Intend to Survive the Meltdown of America 
It is with a troubled heart that I sit down to write today, there being reports of casualties in new fighting in eastern Ukraine. I worry, of course, about my friends and students in the country who may well be in physical danger soon, if the conflict escalates. But that’s personal; as an investment analyst, it’s the financial war the Russians seem quite willing to wage that really has my attention. It should have yours as well. As one of the experts in our just-released Meltd
Tuesday, April 15, 2014
Pepe Escobar - Asia Times
Breaking bad in southern NATOstan

Tuesday, April 15, 2014
Captain Hook - Treasure Chest
A Check In Every Mailbox Revisited
With further liberalization associated with everything from the earned income tax credit to tax-payer funded sex change operations for prison inmates, no matter how ridiculous, in one way or another the checks just keep coming, ?a check in every mailbox? if you will. Of course if you plan to run an increasingly socialistic and intrusive political system, masking the neo-fascism envisioned by the powers-that-be, then you need ever-increasing giveaways to keep the mob happy and distracted, because
Monday, April 14, 2014
Ron Paul
Another Phony Budget Debate 
Anyone watching last week's debate over the Republican budget resolution would have experienced déjà vu, as the debate bore a depressing similarity to those of previous years. Once again, the Republicans claimed their budget would cut spending in a responsible manner, while Democratic opponents claimed the plan's spending cuts would shred the safety net and leave vital programs unfunded. Of course, neither claim is true. The budget does not cut spending at all, and in fact actually inc
Monday, April 14, 2014
Michael S. Rozeff - Lew Rockwell
What If the Crimeans Changed Their Minds? 
It’s easier to raise questions than it is to answer them. My brief answers are merely indicative of a direction an answer might take, but I’d expect many possible more elaborate answers. If tomorrow the Crimeans changed their minds and decided to join Ukraine, would Russia’s owners and operators let them? Probably not, no more than any state’s owners and operators are willing to see its territory diminished. Why did the Crimeans decide to join Russia? What benefits or avoidance of costs did they
Monday, April 14, 2014
Nathan Lewis - New World Economics
Arterial Streets and Grand Boulevards
I thought that I would say a few things about what I call "arterial streets," and also the larger "grand boulevards." Arterial Streets are designed for wheeled vehicles, with a segregated central roadway of two to four lanes, plus sidewalks on either side. The Grand Boulevard would have four lanes or more. (I overlap the two categories a bit, because once you start adding things like central turn lanes, median strips, shoulders/onstreet parking, bike lanes, Green Spac
Sunday, April 13, 2014
Jesse - Le Cafe Américain
The Hare Psychopathy Checklist 
This is from sources on the web, and is based on Robert Hare's psychopathy checklist. 1. Look for glib and superficial charm. A psychopath will also put on what professionals refer to as a 'mask of sanity' that is likable and pleasant. 2. Look for a grandiose self perception. Psychopaths will often believe they are smarter or more powerful than they actually are. 3. Watch for a constant need for stimulation. Stillness, quiet and reflection are not things embraced by psychopaths. They need
Saturday, April 12, 2014
Jesse - Le Cafe Américain
Nomi Prins - All the President's Bankers: The Hidden Alliances That Drive American Power
This is from the book summary at "Culled from original presidential archival documents, All the Presidents’ Bankers delivers an explosive account of the hundred-year interdependence between the White House and Wall Street that transcends a simple analysis of money driving politics—or greed driving bankers. Prins ushers us into the intimate world of exclusive clubs, vacation spots, and Ivy League universities that binds presidents and financiers. She unravels the multi-generational
Saturday, April 12, 2014
Bob Hoye - Institutional Advisors
Bull Markets Die Epicurean
The following is part of Pivotal Events that was published for our subscribers April 3, 2014. Signs Of The Times "Runs on rural Chinese banks as rules ease" "Regulators more tolerant of defaults" - Financial Post, March 26 "In one corner of the U.S. equity market, investor enthusiasm is exceeding the frenzy of the Internet Bubble. Small-cap shares [Russell 2000] have rallied for seven straight quarters, the longest stretch ever." - Bloomberg, March 24 "Too much
Saturday, April 12, 2014
James West - Midas Letter
China’s ‘Lehman’ Moment 
A raft of stories across newswire in the last 23 hours suggest there might be a rug-pulling-out of sorts coming for investors in the Far East. And as we know, the Butterfly Effect in globalized markets these days is instant and amplified. It could be suggested at this point that the tech sell-off currently underway in U.S. technology stocks is a result of a growing crisis in confidence toward China, and its economic reporting. One might even go so far as to suggest that, in some of the events,
Friday, April 11, 2014
Jay Taylor - Kitco
QE & the Fed - Failing the Pinocchio Truth Test

Friday, April 11, 2014
John Browne - Euro Pacific Capital
Chinese Checkers with Gold Prices 
For decades many of us in the hard money world have speculated that cloak and dagger activity by large financial interests has played a large role in determining performance in the gold market. The focus of this alleged manipulation is believed to be in the London market, and has been widely referred to as "The London Fix." However those who have blown the whistle have been dismissed as alarmists, gold bugs, conspiracy theorists or worse. But recent revelations should bring us closer to the trut
Thursday, April 10, 2014
Philippe Herlin - GoldBroker
  How « Too Big to Fail » Thinking Trumps Competition and Increases Risk of Banking Crisis
We are aware of the problems of « Too Big to Fail » banks : They are so big that, if they were to fail, it would cause such economic havoc that they can rest assured to be bailed out by the State. And they’re taking advantage of this situation by taking on even more risk! This perverse effect, this « moral hazard », makes for a much less stable financial system, more exposed to a crisis. In the third chapter of its last « Report on Financial Stability » of April 2014, the IMF writes about this
Thursday, April 10, 2014
Frank Shostak
Economic Sanctions Not Key Cause of Russia’s Possible Recession
According to commentators, sanctions imposed by the US and the European Union are pushing Russia toward a recession. However, we hold that some key Russian economic data have been displaying a weakening prior to the annexation of the Crimea to Russia. This raises the likelihood that sanctions might not be the key factor for an emerging recession. The yearly rate of growth of monthly real gross domestic product (GDP) eased to 0.3 percent in February from 0.7 percent in January and 1.8 percent i
Thursday, April 10, 2014
David Chapman - SafeHaven
All That Money But Where's the Beef!

Thursday, April 10, 2014
John Rubino - Dollar Collapse
Welcome to the Currency War, Part 15: Europeans Ordered to Start Con
For the past couple of years the European Central Bank has been the only sane inmate in the asylum. Unfortunately, in a crazy world being sane just gets you into trouble. Sound monetary policy leads to a strong currency, which in a currency war is tantamount to unilateral disarmament. Unable to export sufficiently to a world of weak currencies, the eurozone is tipping into deflationary depression (with several members already there and unable to get out). So... Draghi Hunts
Thursday, April 10, 2014
Dan Popescu - GoldBroker
Gold Backwardation: What Does It Mean? 
I am going to try to explain a very technical aspect of the gold and silver market, albeit a very important one, if one wants to understand their price evolution. Vulgarization and over-simplification are always dangerous, and there is a risk that some things may be misunderstood. Anyhow, I hope I can bring some light into this topic. Backwardation and contango are terms used in the futures markets. Backwardation happens when the price of a future contract on a commodity (like gold) is lower th
Thursday, April 10, 2014
  Think like a Giant 3 
"The things I tell you will not be wrong. Better to listen, than to talk. Don't search for all the answers at once. A path is formed by laying one stone at a time." -The Giant from Twin Peaks "If you are searching for facts you will find them, but the items you find will not be true! Did you think that the high powered world of the LBMA would operate in a fishbowl for all to see? We cannot take what is on the outside as evidence for what is on the inside. To find the answer, work with ins
Wednesday, April 09, 2014