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Mish - Global Economic Analysis
Ukraine Caught in Third Major Lie? Magic Number 312
I have strong evidence from Ukrainian citizen Anatoly Shary that Kiev is caught in a third major lie regarding Buk deployment. It takes a while to go over the evidence, condensed below, all having to do with the number 312 painted on a missile launcher. Follow the Number On March 8, Censor.Net, a Ukrainian Nationalist cite, says "Ukraine Defends Donetsk From Russian Incursion: 'Buk' Air Defense Rocket Systems Are Taking Up Positions. PHOTO + VIDEO" The sub-headline reads: "A resident of Gor
Wednesday, July 23, 2014
Mish - Global Economic Analysis
Argentina "Determined to Default" Second Time
Background: Argentina defaulted on bonds following a debt crisis in 2001-2002. 92% of the investors agreed to haircuts, but a vulture fund picked up an 8% share at rock bottom prices and refused to negotiate. In June, the US Supreme Court ruled that Argentina Cannot Selectively Default on the small group of hold-outs. The problem with the ruling is that if Argentina pays the vulture fund full value, it will have to pay all the bondholders full value, and that would wreck the country again.
Monday, July 21, 2014
Mish - Global Economic Analysis
  Who's Winning the War in Ukraine? Answer May Shock You!
Here's the question, not of the day, but of the month: Who's Winning the War in Ukraine? That may sound like a simple question, but it isn't. That question leads to a second question "In whose eyes?" It also depends on the definition of "war". And it also depends on the definition of "win". And finally it depends on which media source you believe. Military Aspect From a military aspect, I have seen reports from both sides. The Western media portrays Ukraine on the march with the rebels surr
Saturday, July 26, 2014
Mish - Global Economic Analysis
  SBU Cleans Website of Bogus "Proof"; Mystery of 312 Grows
An image from the Security Service of Ukraine ("SBU") that purportedly showed a Buk heading back to Russia at nighttime, has now been removed from the cite. I made a screenshot of the image and posted it in Ukraine Caught in Third Major Lie? Magic Number 312. The image once was at the bottom of this SBU page: Russia is trying to hide the evidence of his involvement in a terrorist attack in the skies over Ukraine. Here is the image I posted, now removed. CNN Complicit as Well? Shortly aft
Saturday, July 26, 2014
Andy Hoffman - Miles Franklin
Archduke Ferdinand Moment?
For years, we have highlighted the catastrophic global ramifications of Central bank generated inflation, particularly following the unprecedented post-2008 money printing spree that continues unfettered today.  First to experience its horrific consequences were “Arab Spring” nations whose citizens spend the highest proportion of their incomes on food.  Since those 2010-11 uprisings, the fiat cancer has spread worldwide, catalyzed by dramatically escalated money printing following 2011’s Financi
Wednesday, July 23, 2014
Mish - Global Economic Analysis
No BBC Video Removal Scandal After All; Evidence of Military Planes Shadowing MH17 Mounts
On July 23 the BBC deleted a video report from correspondent Olga Ivishina regarding the crash of MH17. This has caused quite a stir in the blogosphere because the deleted video contained eyewitness reports of military aircraft flying on the same day, shadowing Mh17. Here is the deleted video from cache: Катастрофа рейса MH17 Би би си в поисках Бука 23 07 2014, LQ  Global Research Canada has some interesting translation clips in Deleted BBC Report. “Ukrainian Fighter Jet Shot Down MHI7″, Do
Monday, July 28, 2014
Jesse - Le Cafe Américain
SP 500 and NDX Futures Daily Charts
"If you follow issues like Too-Big-To-Fail or Wall Street corruption long enough, you realize that the reason things don't get done about them by our government has very little to do with ideology or even politics, in the way most of us understand politics. Instead, it's a bizarre, almost tribal mentality that rules our capital city – a kind of groupthink that makes extreme myopia and a willingness to ignore the tribe's ostensible connection to the people who elected them a condition for social
Wednesday, July 23, 2014
Mish - Global Economic Analysis
Japan Exports and Trade Balance vs. the Yen; Abenomics in Review
Despite the widely touted success of Abenomics, a few charts will prove success is all hype and no reality. Let's start with a chart of the Yen. $XJY Yen Monthly click on any chart for sharper image The Yen went on a tear from mid-2007 to mid-2011, rising from 80.55 to 132.18. Since then, the Yen declined to and 94.83 and is currently at 98.26. The Yen was in this general area, at times, in 2004, 2005, 2008, 2009, and 2014. One intent of Abenomics was to devalue the Yen to aid exports. Ho
Sunday, July 27, 2014
Mish - Global Economic Analysis
Ukraine's Army Advances; Unguided Rockets Kill Civilians; Demise of Rebels?
There are lots of conflicting, even contradictory news reports regarding Ukraine in the past couple of days. Let's take a look at a few of them starting with the Bloomberg report Ukraine Army Advances as EU Plans Tougher Putin Sanctions. Ukraine’s army advanced on a last main separatist stronghold as the U.S. said Russian President Vladimir Putin is poised to give the rebels heavy weapons and European Union leaders considered their toughest sanctions yet on Russia. Ukrainian troops are battl
Monday, July 28, 2014
Andy Hoffman - Miles Franklin
Peak Madness
Since TPTB realized their fiat Ponzi scheme had passed the “point of no return” in mid-2011, market manipulation has reached heights never before imagined – culminating in last week’s “absolute peak of lunacy,” when Goldman Sachs invoked the long discredited “Fed Model” to predict the S&P 500 would double by year-end if both Treasury yields and corporate earnings utterly implode.  Which, by the way, may well occur if the nearly all-time low in the Baltic Dry Index (including the weakest July in
Thursday, July 24, 2014
Mish - Global Economic Analysis
EU "Red Tape Hell"; Dust Settles on Appointment of Juncker; Time for an Up-Down Vote
Jean Claude Juncker (Mr. "Lie When It's Serious") is already accused of sending the UK down the drain. Please consider British firms fear red tape hell as EU orders equality and green energy reports. British companies will be forced to publish details of their environmental impact and efforts to improve “gender equality” under a diktat from Brussels. Bureaucrats want all large firms in the European Union to include details of their policies on “environment, diversity and human rights” in the
Thursday, July 24, 2014
Mish - Global Economic Analysis
Email from Ukraine Portfolio Manager; Obama Idiocies and Ironies
President Obama came out swinging today and issued a Stern Warning to Russia on Isolation in response to the crash of MH17. Barack Obama has warned Russia it risks further international isolation if it does not intervene directly with the pro-Russian separatist rebels to "compel them to co-operate" with the investigation into the crash of MH17. He questioned why the rebels would want to prevent international observers and investigators access to the crash site. "What exactly are they trying
Tuesday, July 22, 2014
Mish - Global Economic Analysis
Bad Day for Bad Teachers, Good Day for Kids
This is a guest post courtesy of Richard Berman at the Capital Research Center, under the title A Bad Day for Bad Teachers. Summary: In 1954, the U.S. Supreme Court issued the landmark decision Brown v. Board of Education, which struck down racially segregated schools because, the court said, they were inherently unequal and they unjustly harmed poor and minority children. Last month, a California court cited Brown v. Board as it struck down multiple state laws, passed at the behest of tea
Sunday, July 27, 2014
Mish - Global Economic Analysis
Calling All Munitions and Fighter Plane Experts: Is German Pilot Claim "Air-to-Air Attack" Brought D
Peter Haisenko, a German aviation expert made a claim yesterday that air-to-air fire brought down MH17. The above link is to a translated page. As a lay person, it's easy to be persuaded by such arguments. Moreover, even if Haisenko is an aviation expert, one has to wonder about his munitions expertise. I have some questions later, but first let's take a look at some images and a translation of Haisenko's thesis. Haisenko provides this High-Res Image of MH17 Cockpit. Click on chart for s
Tuesday, July 29, 2014
Mish - Global Economic Analysis
Sorting Through All the Possibilities; Ukraine Accuses Russia of Deliberately Downing MH17; Brawl in
Only the person or persons who fired the missile know the truth for sure. Yet Ukraine now says "Russian Officer Downed MH17". A brawl then ensued in Ukrainian Parliament following a vote to increase troops battling rebels. Vitaly Nayda, Ukraine's director of informational security, made the accusation in an interview with CNN. The person was "absolutely" a Russian, he said. "A Russian-trained, well-equipped, well-educated officer ... pushed that button deliberately." Moscow has denied claims
Wednesday, July 23, 2014
Mish - Global Economic Analysis
Obama Shenanigans on 'Factoryless' Exports, Taxes, Employment, Jobs
Corporate Deserters President Obama was beating the drums on Thursday in Los Angeles regarding corporate tax deserters, companies that move headquarters or tax shields to another country in order to escape high US tax rates. The LA Times provides the details in President Obama Hits 'Corporate Deserters' in Populist L.A. Speech. Tearing into companies he dubbed “corporate deserters,” President Obama on Thursday launched an election-year push to make it harder for U.S. companies to avoid payi
Friday, July 25, 2014
Andy Hoffman - Miles Franklin
Historical Norms
“HISTORICAL NORMS” Following last week’s soon-to-be-infamous Yellen quote that “price equity ratios and other measures (of stock, bond, and real estate valuation) are not outside historic norms,” I thought I’d do a bit of thought-streaming – starting with what an “historical norm” refers to. Since this blog focuses principally on financial topics – and specifically, money – “historical” can refer to trends going back to the dawn of man. As a leading Precious Metals purveyor, Miles Franklin has b
Monday, July 21, 2014
Mish - Global Economic Analysis
France Unemployment New High, Output Down 15th Month; Prices Drop 27th Month; Activity Up in Periphe
The grim economic news from France keeps piling up. Today, Europe Online reports Number of Unemployed in France Hits New High. The number of unemployed people in France has hit a new high as the country grapples with the fallout of the financial crisis and a sluggish eurozone recovery, the Labour Department reported Friday. At the end of June, there were 3.398 million people who were registered as being without a job in the eurozone‘s second-largest economy - 0.3 per cent more than in the pre
Saturday, July 26, 2014
Mish - Global Economic Analysis
Reuters Debunked: Khodakovsky Denies Interview Aspects
As I suspected would happen, the exclusive Reuters interview in which "Commander Alexander Khodakovsky acknowledges rebel fighters had BUK missiles" has been challenged. In my analysis of the Reuters article (see Ukraine Rebel Commander Admits Having BUK Missiles; Damning Contradictions?),  I point out considerable discrepancies in what Reuters author Anton Zverev wrote and actual quotes Reuters presented. The discrepancies were so big I stated "It appears to me Reuters may have stretched thi
Thursday, July 24, 2014
Mish - Global Economic Analysis
Ukraine Government Breaks Up: Prime Minister Resigns Over "Vital Laws on Energy and Army Financing";
Some interesting happenings in Ukraine today, in Kiev rather than the war zone. Issues concern unpaid soldiers, pro-Russian MPs, and various oil schemes to finance the war. Let's take a look starting with Kiev Government Breaks Up as EU Mulls Fresh Russia Sanctions Ukraine’s premier Arseniy Yatseniuk tendered his resignation on Thursday, clearing the way for early elections aimed at producing a more reform-minded parliament in Kiev but also risking a short-term political vacuum. Two parties q
Thursday, July 24, 2014
Mish - Global Economic Analysis
"To Stop Being Trapped, Stop Lying"; Ukrainian Soldiers Tending Buks in Eastern Ukraine?
Anatoly Shary, the Ukrainian citizen who started the "312" Investigation (see Ukraine Caught in Third Major Lie? Magic Number 312) has a 1 minute 44 second video update in which he claims to know when and where Kiev made that bogus claim. Link if Video Does not Play: Я нашел российский БУК Captions in English "Each conscious citizen must help the security service of his country. I finally decided to help, once and for all, the Security Service of Ukraine to fins the Buk that, according to
Thursday, July 24, 2014
Chris Powell - GATA
UK's Serious Fraud Office to launch criminal probe into forex rigging
By Harriet Dennys The Telegraph, London Sunday, July 20, 2014 http://www.telegraph.co.uk/finance/currency/10978850/Serious-Fraud-Offic... The Serious Fraud Office is poised to launch the first criminal investigation into alleged rigging of the L3 trillion-a-day foreign exchange markets at leading City banks. The financial watchdog is expected to announce the move as early as this week, according to reports, raising the spectre of further multimillion-pound fines for Britain's biggest banks over
Monday, July 21, 2014
Mish - Global Economic Analysis
Video of Rebel Buk Launchers Headed Back to Russia? No - Images From Ukraine-Held Territory Since Ma
Update: The video clip I displayed earlier today was likely the downing of an An-30 last month not Malaysian flight MH17. Once again it is very difficult to sort through all the propaganda. Both sides are involved. Jacob Dreizin, a US citizen who speaks Russian and reads Ukrainian provided this update three hours ago. Hello Mish, On Friday, the Daily Mail, one of the major UK tabloids carried photos and video of what was alleged to be a rebel "Buk" launcher heading back to Russia.  The arti
Monday, July 21, 2014
Mish - Global Economic Analysis
Update ...
Reader David sent an email and accompanying video that purportedly shows the Malaysian Flight 17 being hit by missile. Let's take a look. David Writes ... It appears as if the right engine and wing area took the hit. The camera operator is able to record the moment of impact in the first 2 seconds of this clip. Note the smoke burst left behind on impact with the #2 engine area. There is a 18 second delay (speed of sound delay) due to the distance and altitude of the explosion. Question: How
Monday, July 21, 2014
Andy Hoffman - Miles Franklin
The Best Laid Plans
On his weekly podcast, Andy Hoffman discusses negative interest rates, 10 year Treasury yield, jobless claims, home sales, Europe, gold and silver.  To listen to the audio, please click below: Download the MP3 File: The Best Laid Plans Video: The Best Laid Plans
Thursday, July 24, 2014
Mish - Global Economic Analysis
The Piece Fits; Debunking Revisited
It Fits  Reader Eric comments "It is amazing what internet, twitter, etc. has done for the pursuit of truth.  Here is an individual who shows where the piece fits on the plane." From @ErzaBraam The Piece For a report on the piece, please see Photo of MH17 Wreckage Proves Missile Attack Contrary to popular belief this does not prove MH17 was brought down by a Buk. Rather, the image is consistent with a missile explosion from outside the plane, not a crash, and not a bomb exploding insid
Friday, July 25, 2014
Andy Hoffman - Miles Franklin
Radio Appearance with John Stadtmiller of RBN – July 22, 2014
Andy Hoffman joins John Stadtmiller of the Republic Broadcasting Network to discuss JPMorgan recent fines, U.S. dollar reserve, London Gold Fix, Germany, Russia, U.S. housing market, gold and silver.   To download the audio, please click on the link below: Andy Hoffman – Republic Broadcasting Network – July 22, 2014
Thursday, July 24, 2014
Mish - Global Economic Analysis
Jay Taylor Interview of David Stockman and Mish
Yesterday, I had the pleasure of being interviewed along with David Stockman by Jay Taylor, a hard money advocate and author of Turning Hard Times Into Good. The audio is about 32 minutes long. You can play it here: Mish and Stockman with Jay Taylor. We discuss various aspects of the global economy: a pending asset implosion, happenings in Europe, China,  Japan, and US treasuries. In general, David and I see things alike, but differ a bit on US treasuries. Mike "Mish" Shedlock http://globalec
Thursday, July 24, 2014
Andy Hoffman - Miles Franklin
A Tale of Two Bubbles
It’s a special day for me – as a year ago today, I was in Guangzhou, China meeting my adopted daughter for the first time.  Below is a picture of wife Diana, myself, and baby Sylvie in July 2013; as well as Sylvie today, age 2½, thriving beyond our wildest expectations.  Due to ongoing changes in China’s “one child policy” – which for all intents and purposes is nearly eliminated, a process we expected to take 18 months took more than seven years.  We feel blessed in every way and wouldn’t have
Wednesday, July 30, 2014
Mish - Global Economic Analysis
  Ukrainians Ordered to War, Women Burn the Military Writs
The war in Ukraine is going so well that soldiers are unpaid and men are ordered to serve whether they want to or not. Hats off to a group of women who confront a Ukrainian soldier and burn military writs right in front of the soldier's face. Writ Burning Video Video link: Ukrainians Burn Writs Transcript Woman to Ukrainian soldier: Who are you? Soldier: I am the head of the local recruiting center. Woman: Why are you bringing military writs? Soldier: It's an order from above. I can'
Tuesday, July 29, 2014

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