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Most read articles
Andy Sutton
  The Death of the American Middle Class with Graham Mehl 
In what will be our final installment together, at least for the foreseeable future, Andy and I will look at the sole largest reason for the current circumstances in which nearly the entire Western world finds itself. We end not our friendship nor our collegial working relationship, but have mutually reached the decision that these collaborations are no longer generating benefits anywhere near the expenditures required to produce them. The title of this piece explains i
Wednesday, September 10, 2014
Adam Hamilton - Zealllc
  QE3’s Ominous End Looms 
The Federal Reserve?s third quantitative-easing campaign is on track to wind down in late October.At that point the Fed will likely stop printing new money to buy bonds, a sea-change shift with ominous implications for the stock markets.Their entire surreal levitation during QE3 mirrored the huge growth in the Fed?s balance sheet from QE3?s bond monetizations.When they cease, another major selloff is likely.QE3?s impact on the global financial markets has been vast beyond belief.The Fed launched
Saturday, September 06, 2014
Hugo Salinas Price -
Thoughts About the Islamic Jihad 
Prefatory notes: Reports have been circulating on the Internet that the Islamic State “ISIS” is a creation of Mossad, the Israeli intelligence agency, and that the Caliph or religious head of ISIS, Baghdadi, is actually a Jew. So questions arise: Is ISIS for real, or will its creators reduce it to insignificance once it has fulfilled the function for which it was created? Can a fanatic religious movement be dissolved or controlled?  Can a fanatic religious movement, initially created by outside
Wednesday, September 10, 2014
David Petch - Treasure Chest
US Dollar Set to go Much Higher
The following article was released earlier in the week to subscribers. The US Dollar has gone gang busters after breaking above 81.7 and clearly has broken out. This has implications for everything else. As the US Dollar is a Reserve Currency, everything that has an inverse relationship to it will fall, such as gold. As I mentioned, I got out of all of my core precious metal positions a few weeks ago after the drop and bounce, as there is no indication that they will participate to the
Monday, September 15, 2014
Mac Slavo - ShtfPlan
  Report: It’s YOUR Fault: Fed Says Americans Who “Hoard Money” Are To Blame For Poor Econ 
Despite arguments to the contrary from the Obama administration, mounting evidence suggests that the U.S. economy is rapidly falling back into negative growth territory. More Americans are out of the workforce than ever before, median household incomes are at levels not seen since 1967, and consumer spending is coming to a veritable standstill. The crisis is apparently so significant that a Federal Reserve governor recently said U.S. policymakers are crafting regulations that will force bank dep
Saturday, September 13, 2014
John Rubino - Dollar Collapse
  Real Interest Rates and Future Chaos 
The folks at Gresham's Law just published a nifty interactive chart of real (i.e., inflation-adjusted) interest rates since the 1960s that explains a lot about today's world. To make sense of this, let's start with a a little background: Interest rates are the rental cost of money, but to figure out the true cost you have to adjust the nominal (or numerical) interest rate for inflation, which is the rate at which the currency being borrowed is falling in value. If the nominal inte
Monday, September 08, 2014
Peter Schiff - Euro Pacific Capital
Doubling Down on Inflation 
Friday's release of disappointing August payroll numbers should have been a jarring wake-up call warning Wall Street that the economy has been treading on thin ice. Instead the alarm clock was stuffed under the pillow and Wall Street kept sleeping. The miss was so epic in fact (the 142,000 jobs created was almost 40% below the consensus estimate) that the top analysts on Wall Street did their best to tell us that it was all just a bad dream. Mark Zandi of Moody's reacted on Squawk Box by saying
Wednesday, September 10, 2014
James Howard Kunstler
  Down the Memory Hole 
T he memory hole is working overtime in the USA zeitgeist these days. Shit happens and a week or so later, it unhappens — at least it seems that way as manifested by the front page of The New York Times or the flapping of Anderson Cooper’s gums on CNN. Anyone remember that Malaysian airlines plane that went down in July in Ukraine killing 283 persons? US government officials were jumping up and down trying strenuously to blame Russian Donbass separatists. The trouble was, they had no evidence wh
Wednesday, September 10, 2014
Wolf Richter
The Wrath of Abenomics Crushes Japanese Consumers, Eviscerates Economy
In April, after the broad-based consumption-tax hike from 5% to 8% had taken effect, retail sales collapsed 20% from March. Total vehicle sales collapsed 56% to the worst level since December 2012, and December is usually the worst month of the year in Japan. April was terrible. It was much worse than feared by the Abenomics soothsayers and apologists. But the shock didn’t last long, and soon the soothsayers and apologists were at it again. In May, car sales were worse than a year earlier, but n
Tuesday, September 09, 2014
Jeffrey Lewis
Preparing for the Full Force of Reality
The real economy is suffering and getting worse by the day. The imbalances created by giant finance will not go away, regardless of intervention.  There is an odd phenomenon at work. Society is now fully accustomed to the disbelieving the gap. Yesterday, things were going well. The market went up in spite of itself. Tomorrow ought to be the same.  Everything must be fine. The invisible hand is something that cannot be understood.  It's like quantum physics; if you think you understand you obviou
Tuesday, September 16, 2014
Nathan Lewis - New World Economics
HTMAPODWTTC 14: Mobile Homes and Manufactured Housing
We've been working on a series of ways that our Traditional City ideas can be implemented immediately, within the context of Suburban Hell as it exists today in the United States. We have also been working on various arrangements that are a lot less expensive than the typical hyperexpensive Suburban Hell SFDR house on a quarter-acre, while providing environments that are dignified and beautiful -- maybe, even more dignified and beautiful than the typical upscale McMan
Monday, September 08, 2014
Jesse - Le Cafe Américain
Moral Hazard: The Abysmal Failure of the Doctrine Of Selective Justice For Finance 
Moral Hazard - In economic theory, a moral hazard is a situation in which a party is more likely to take risks because the costs that could result will not be borne by the party taking the risk. In other words, it is a tendency to be more willing to take a risk, knowing that the potential costs or burdens of taking such risk will be borne, in whole or in part, by others. A moral hazard may occur where the actions of one party may change to the detriment of another after a financial transaction h
Saturday, September 13, 2014
Bob Hoye - Institutional Advisors
Tyrannical Duncery (continued) 
Global Warming Nonsense With a degree in Geophysics this writer has found the story about man-caused global warming fascinating. Fascinating in its blatant abuse of the discipline and skepticism that has driven the advance of science for thousands of years. Even more fascinating is that since catastrophic warming displaced global cooling concerns of the 1970s it has become another great experiment in authoritarian science. The last such example involved a bitter struggle between the es
Saturday, September 13, 2014
Jim Willie CB - Hat Trick Letter
NATO Dead, King Dollar Wrecked 
The Paradigm Shift has reached a higher gear. The danger and risk levels have gone to critical levels. The risk of economic destruction has gone into recognizable critical levels. The source of the problem has become more easily identified. The typical tactics not only do not work, but expose the bully, the warmonger, the hegemony advocate, the wizard of violence, the imposer of self-serving rules, the crime syndicate bosses, the masters of espionage, the man with killer drone toys. The USDollar
Friday, September 05, 2014
Nathan Lewis - New World Economics
  Japan's Graying Population Needs New Solutions, Not Old Failures
In 1989, 11.6% of the population of Japan was over 65. In 2006, it hit 20%. In 2055, it is expected to reach 38%. I assert that it is possible to have economic abundance with a shrinking and graying population. But, not if you do things the same old way. How should a government deal with this? Care of the elderly has been a part of human society from prehistoric times. But, there have never been so many elderly. This is not a uniquely Japanese pro
Monday, September 15, 2014
Gordon Long - Market Analytics
Why is Crony Capitalism Happening?
Why has classical capitalism devolved to crony-capitalism/crony-kleptocracies? In this 24 minute video Gordon T Long and Charles Hugh Smith discuss through the aid of 17 slides the rapid advancement of Crony Capitalism in America. The facts are undeniable, but why is it becoming so obvious and undeniable? Why is it accelerating without any apparent 'checks and balances'? Where have the safeguards against this happening gone
Wednesday, September 10, 2014
John Rubino - Dollar Collapse
Full Frontal Inflation
By now it's an article of faith within the sound money community that most major countries have borrowed so much that they're left with only two options: default on their debt through mass-bankruptcy and a new Great Depression, or inflate it away through stepped-up currency creation. This is an investment thesis, since a given country's choice will determine which asset classes rise and fall. But it's also a criticism of the people and policies that put us in this box. The presidents,
Thursday, September 11, 2014
Captain Hook - Treasure Chest
It’s no secret the rich are getting richer, and the poor poorer. Accounts of this worsening condition are stroon across mainstream media and alternative news sources alike, albeit with somewhat different storylines. Although increasingly recognizing the importance of this issue, mainstreamers, who both cater to and are controlled by the status quo, portray the condition as a result of race and education differences (which is true), and that these shortfalls should be addressed via public policy
Monday, September 15, 2014
Peter Schiff - Euro Pacific Capital
A New Fed Playbook for the New Normal 
While many economists and market watchers have failed to notice, we have entered a new chapter in the short and checkered history of central banking. This paradigm shift, as yet unaddressed in the textbooks, changes the basic policy tools that have traditionally defined the sphere of macroeconomic decision-making.The job of a central banker is supposed to be the calibration of interest rates to achieve the optimal rate of growth for any particular economic environment. It is hoped that successfu
Wednesday, September 17, 2014
Hugo Salinas Price -
  How the Dollar Will Die
All the currencies of the world today are derivatives of the dollar, including the Russian Ruble and the Chinese Yuan, and even the miserable currencies of Venezuela and Argentina. As long as they can be used to purchase dollars, either officially or through the black market, they will continue in circulation.The Mexican Peso circulates and has value, because Mexicans have alway
Friday, September 05, 2014
John Browne - Euro Pacific Capital
A Wee Problem for the UK 
Last weekend several polls emerged that shockingly forecast Scottish independence from Great Britain is within the realm of political possibilities. Although the September 18th vote had worried a number of people, the evenly split polling results burst upon the world like a thunderbolt, perhaps shattering the image of a steady, genial and conservative Britain. But the ramifications of Scottish independence go far beyond national pride and historical score settling. Watchers of the global economy
Thursday, September 11, 2014
Philippe Herlin - GoldBroker
Danger warning : Mario Draghi to restart ECB’s money printing press!
Mario Draghi spoke, last Thursday, and everyone must have thought his announcements were important... because right after his speech, stock markets went up and the euro fell against the dollar! What caused this abrupt temperature rise in the markets? Let’s recall the announcement: The base rate goes down from 0.15% to 0.05% (who can believe this will change anything?) and the deposit rate for banks depositing with the ECB goes down from -0.1% to -0.2% (the intent of which is to discourage banks
Friday, September 12, 2014
Chris Wood - Casey Research
Can You Really Live Forever?
“We are on the cusp of curing aging.” Those are the words of molecular biologist Dr. William Andrews, founder and CEO of Sierra Sciences, a company with the stated goal to “cure aging or die trying.” In the quote above, which comes from a September 2010 Sierra Sciences press release, Andrews is referring to a nutraceutical (i.e., a natural food-derived product meant to provide health or medical benefits, like vitamin C or folic acid) that his company discovered, known as TA-65. It supposedly s
Friday, September 12, 2014
Wolf Richter
‘Excessive Amounts of Capital’ Doom Startup Bubble
Not everything is hunky-dory in the world of stocks. The S&P 500, which has been hovering near its all-time high and hasn’t experienced a decline of 10% in three years, has been the focal point of breathless media coverage. But beneath the surface, the stocks of smaller companies are being put through the meat grinder. Bloomberg found that 47% of all stocks in the Nasdaq have skidded at least 20% from their 12-month high; 40% of the stocks in the Russell 2000 and, chillingly, 40% of those in the
Wednesday, September 17, 2014
Axel Merk - Merk Fund
Central Bank Bullying: Investor Implications
“Bullying” by the Fed, ECB, Bank of England and Bank of Japan has been in place for up to six years, forcing not-so-mighty central banks, savers and investors to deal with the consequences. Understanding the dynamics may help investors to navigate what’s ahead.First, let’s get one thing straight: it matters little what you; we; or anyone in the blogosphere thinks policy makers should do. We are bystanders that have to deal with the consequences of their actions. The cheapest action undertaken by
Tuesday, September 16, 2014
John Rubino - Dollar Collapse
They Really Mean
Nearly a century after the fact, the Great Depression remains THE object lesson for virtually every branch of economics. To monetarists the fact that the US money supply fell by nearly a third in the 1930s illustrates the need for a central bank to maintain steady money growth. To Keynesians the Depression's depth and duration proved that capitalist systems are inherently unstable and need a big, powerful government to manage them. World War II, in this framework, saved the US econom
Wednesday, September 17, 2014
Axel Merk - Merk Fund
Scottish Independence Vote: Investor Implications
Is your portfolio’s fate dependent on Scotland’s? Why is it that when a place known for haggis, kilts and bagpipes indicates it might want to be independent, the markets pay attention?The usually rather boring pound sterling jumped to life in recent days, becoming one of the world’s most volatile currencies. The trigger was a poll that suggested that the pro-independence camp in Scotland might hold the upper hand in the September 18, 2014 vote. Until recently, that event risk had not been priced
Wednesday, September 10, 2014 -
Islamic State's Ultimate Goal: Saudi Arabia's Oil Wells 
For the terrorist group known as the Islamic State, Syria and Iraq were a good place to start their campaign, but in order to survive and prosper it knew from the outset that it had no choice but to set its sights on the ultimate prize: the oil fields of Saudi Arabia. It is in that direction that the battle for control of the world's largest oil fields is currently heading. Islamic State -- which has its origins in al-Qaeda - knows fully well that in order to sustain itself as a viable
Thursday, September 11, 2014
Hugo Salinas Price -
How the Dollar Will Die 
All the currencies of the world today are derivatives of the dollar, including the Russian Ruble and the Chinese Yuan, and even the miserable currencies of Venezuela and Argentina. As long as they can be used to purchase dollars, either officially or through the black market, they will continue in circulation. The Mexican Peso circulates and has value, because Mexicans have always been able to purchase dollars with pesos (except for a few days during the “Mexdollar” crisis of the early ‘80s). Th
Wednesday, September 03, 2014
Dan Popescu - GoldBroker
  Above-ground Gold Stock - How Much Is There and Why Does it Matter? 
To understand the price of gold, the relevant supply is the total supply, not the new supply coming to market during the last year, week or month. The supply of gold consists of all of the supply that exists, and the relevant demand is the total demand, not the new demand coming to market during any year. For gold, there is always a large stockpile, and it never gets smaller. The vast majority of all the gold mined throughout human history still exists and is held either in bars, coins, or jewel
Monday, September 01, 2014