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| RATIOS & INDEXES |
| Gold / Silver | 63.21 |
| Gold / Oil | 13.74 |
| Dowjones / Gold | 11.26 |
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 | Crisis Watch |  |
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 | Charleston Voice |
| Brazil Erupts as Millions Protest the Banks in Rio de Janeiro |
| Updated 24 / h World Riots wants to be a center of audiovisual documentation of the hard and harsh reality that the international bourgeoisie denies us, dramatically, on the television and the official mass-media.
by Avalon
Intellihub.com
June 18, 2013
The New York Daily Post’s article, Brazil riots: Tens of thousands of demonstrators march through city streets in widespread anger over gov’t corruption describe the situation as:
Tens of thousands of demonstrators marched through the strWednesday, June 19, 2013 |
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 | Mac Slavo - ShtfPlan |
| Watch Your Cash: New BAIL-IN Rules Will Force “Failed Bank Losses on Investors” |
| When the Cypriot government forced account holders to cover bank losses earlier this year most of the world assumed this was a one-off event, limited only to the people of Cyprus.
Though warnings urging depositors to get their money out of banks spread across the world, few have taken them seriously.
Perhaps now they’ll reconsider.
We’re all familiar with bail-outs, as in the government rescuing failed institutions, namely banks, by injecting them with tens of billions of dollars to prevent collWednesday, June 19, 2013 |
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 | Mish - Global Economic Analysis |
| Cash Squeeze in China, Interest Rate Swaps Rise Most in 22 Months; China's Credit Bubble About to Po |
| Bloomberg reports China Swaps Surge as Cash Squeeze Sees Demand Wane at Debt Sale.
China’s one-year interest-rate swap rose by the most in 22 months as the central bank refrained from adding funds to the financial system to ease a cash squeeze, causing demand to fall at a government debt auction.
“The cash shortage may get even worse before the quarter-end because banks will have to hoard cash to meet loan-to-deposit ratio requirements,” said Chen Qi, a strategist at UBS Securities Co. in ShaWednesday, June 19, 2013 |
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| Mish - Global Economic Analysis |
| Brazilian Currency Touches Four-Year Low Prompting Intervention; Currency Intervention Madness Displ |
| Bloomberg reports Brazilian Currency Touches Four-Year Low, Prompting Intervention
Brazil’s real touched a four-year low, prompting the central bank to intervene for a second straight day as a report showed higher-than-forecast inflation.
“If there’s more currency devaluation, there will be more inflation,” Jankiel Santos, the chief economist at Banco Espirito Santo de Investimento in Sao Paulo, said in a telephone interview. “On top of that, the IGP-M shows that wholesale prices are under pWednesday, June 19, 2013 |
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 | Jesse - Le Café Américain |
| Pictures In an Exhibition: Who Profits? |
| Why keep the median wage low, despite rising profits and productivity?
Whom does an increasingly debt-based economy serve?
Who profits from the status quo?
Pictures in an exhibition of elephantine greed and betrayal of trust.Tuesday, June 18, 2013 |
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| Mac Slavo - ShtfPlan |
| They Know: Billionaires Are Quietly And Rapidly Dumping Millions of Shares of Stock |
| After the massive crash that rocked global markets in 2008, as Congress, central bankers and major financial institutions met in secret to mitigate the crisis, billionaires like Warren Buffet were buying up shares of some of the hardest hit companies.
At the time, the world was literally on the brink of an unprecedented economic collapse. It was so serious, in fact, that members of Congress were told that should they fail to come to an agreement the fallout would leave the United States in suchTuesday, June 18, 2013 |
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| Mish - Global Economic Analysis |
| Pettis on China, Europe, Japan: Bad News for Those Looking for Growth |
| Via email here is another update from Michael Pettis at China Financial Markets. What follows is from Michael Pettis.
Special points
Europe is attempting to resolve domestic imbalances by forcing them onto their trade partners. This will end badly, especially for Germany.
China’s new lending, exports, investment, housing starts and GDP growth all continued to slow in May. Many of the numbers came in well below market expectations.
This is par for the course. Although we may from time to timeTuesday, June 18, 2013 |
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| Mish - Global Economic Analysis |
| Superman Joins a Union |
| Inquiring minds may be wondering what would happen if the "Man of Steel" were forced to join a union. The following video explains.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.comMonday, June 17, 2013 |
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 | Steve Keen - Debt Deflation |
| Vale David Hirst |
| One of the handful of journalists to fully grasp the enormity of the economic crisis that was to commence in late 2007 has died, long before the crisis itself will end. In his column Planet Wall Street, David Hirst’s poetic prose warned his readers of the coming economic tsunami, at the same time as the officials who should have prevented it continued to laud the very instruments of financial deceit that made it possible.
Though the Fourth Estate’s higher purpose isMonday, June 17, 2013 |
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| Mac Slavo - ShtfPlan |
Gold Buying Panic In China: 10,000 People Wait In Line For Their Chance to Own Precious  |
| One day in the near future Americans will finally realize that their money is being devalued at a rapid pace. For the time being the price increases are somewhat muted by official announcements of inflation being under control at around 2% and purported economic recovery on the horizon. The Federal Reserve and the US government are doing everything in their power to maintain a perception of stability.
But what happens when all the machinations are proven to be fruitless during the next stock marMonday, June 17, 2013 |
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| Mac Slavo - ShtfPlan |
| Must See Commentary: “I Don’t Know What We’re Going To Wake Up To Tomorrow…” |
| With seemingly endless scandals rocking the country, economic malaise spreading across the world, and super powers positioning their military assets on the grand chessboard, one can’t help but notice that the entire planet is devolving into completely insanity.
Uncertainty is at such a level that it’s impossible to know what happens next.
These people – our leaders, the purported best and brightest members of politics, finance, and industry – have brought us to the brink. What we are witnessingSunday, June 16, 2013 |
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| Mish - Global Economic Analysis |
| Dumb and Dumber Tax Hikes in Italy; Grand Coalition Splintering; Another Italy Convulsion Coming Up |
| One of the dumbest things a country can do in a recession is raise taxes. Yet, after pronouncing the end of austerity, Italy's "grand coalition" government, led by Enrico Letta, is going to hike the VAT.
Why? It seems they need to hike the VAT to pay for a decrease in property taxes.
Recall that Silvio Berlusconi was only willing to take part in Letta's grand coalition on condition property tax hikes were rolled back. Letta agreed to do that, but now Letta says Italy needs revenue hikes to makSaturday, June 15, 2013 |
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| Jesse - Le Café Américain |
| Russia Calls For IMF Overhaul |
| The BRICs can call for whatever they wish, but until they find some way to apply more effective pressure on the Anglo-American banking cartel and their politicians, they are not going to get much of anything.
Their own people cannot get much of anything in the way of reform in the status quo.
RiaNovosti
Russia’s Putin Calls for IMF Overhaul, Bigger Role for BRICS
MOSCOW, June 14 (RIA Novosti) – Russia will use its presidency of the G20 to push for a radical overhaul of the InternationalFriday, June 14, 2013 |
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| Mish - Global Economic Analysis |
| Mish Buys a Basket of Miners |
| Most of my investment funds are under management at Sitka Pacific. I also have investments with GoldMoney and some other assets from my late wife Joanne.
I believe precious metal miners represent true value, but I cannot state when the market will come to the same conclusion.
Last week I bought a basket of miners with a significant amount of money. Many of these stocks are also held in various Sitka Pacific strategies.
Mish Miner Basket
SymbolAverage Price Initial WeightPEDividendYield
NEFriday, June 14, 2013 |
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| Mac Slavo - ShtfPlan |
| Recovery: Record 23 Million American Households Receive Food Stamps |
| (Pictured: Depression era food line)
Just when you thought America was coming out of recession…
The number of American households on food stamps reached a new record high in March, according to new data released by the Agriculture Department.
The March numbers the USDA released Friday reveal 23,116,441 households enrolled in the Supplemental Nutrition Assistance Program (SNAP), or food stamps, each receiving an average monthly benefit of $274.30.
The number of individuals on SNAP did not break aThursday, June 13, 2013 |
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| Mac Slavo - ShtfPlan |
Twenty TRILLION Phone Calls: “They’ve Been Collecting Data About ALL Domestic Calls Sinc  |
| “The total influence – economic, political, even spiritual – is felt in every city, every state house, every office of the federal government. We must be alert to the … danger that public policy could itself become the captive of a scientific technological elite.”
President Dwight D. Eisenhower
Farewell Address
January 17, 1961
In 2011, when we noted that Everything You Do Is Monitored, we weren’t embellishing or fear mongering.
This is as real as it gets.
The National Security Agency’s collecTuesday, June 11, 2013 |
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| Jesse - Le Café Américain |
| Gold Daily and Silver Weekly Charts - Forms of Expropriation as a Negative Effect on Wealth |
| In this video interview Jim Rickards comments on Roubini's Recent Comments on Gold.
Jim takes down Roubini's comments point by point and very well. I thought he was a bit easy on Roubini, but he may have missed the mark on interest rates.
I think the 10 year rate is completely inappropriate in deriving real interest rates against short term inflation. And the official and even 'market-based' measures of inflation are distorted in ways that can be easily demonstrated by John Williams for examTuesday, June 11, 2013 |
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| Jesse - Le Café Américain |
| C. A. Fitts On Debt, Centralization, Money, Equity Markets, Currency Wars, and Gold |
| Catherine Austin Fitts served as managing director and member of the board of directors of the Wall Street investment bank Dillon, Read & Co. Inc., as Assistant Secretary of Housing and Federal Housing Commissioner at the United States Department of Housing and Urban Development in the first Bush Administration, and was the president of Hamilton Securities Group, Inc., an investment bank and financial software developer.
Fitts has a BA from the University of Pennsylvania, an MBA from the WhartoMonday, June 10, 2013 |
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| Mish - Global Economic Analysis |
| Cash Home Sales, Flipping, Offer More Signs of Housing Bubble; Housing Insanity Stage 2 |
| It is extremely hard if not downright impossible to re-blow the last bubble. For case in point look at technology stocks like CSCO, INTC, SEBL, or JDSU.
Here is a chart of JDSU, a darling of the internet bubble.
JDSU Monthly
Cold Cash
What brought JDSU to mind was an interesting New York Times article As Home Sales Heat Up Again, Buyers Must Resort to Cold Cash
The percentage of homes bought with cash has shot up in many markets across the nation. Nearly a third of all homes purchased inSunday, June 09, 2013 |
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| Mac Slavo - ShtfPlan |
 Financial Insider: “We Are Moving Into the Last Stages Before An All Out Collapse” |
| With the United States having reached unprecedented levels of debt and no end in sight, Europe close to widespread destabilization, and Japan now having lost control of their bond market, it should be quite apparent that there is no turning back.
Governments around the world are doing everything in their power to maintain the perception that all is well. Despite their best efforts, however, the coming catastrophe cannot be stopped.
The following video and accompanying excerpt recorded on the HagFriday, June 07, 2013 |
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| Mac Slavo - ShtfPlan |
 Pentagon Blackout: “Large American Military Force” Deployed to Syrian Border |
| The catalyst for the next great war will likely occur somewhere in the middle east. The Americans know this. As do the Russians and the Chinese. And as with the last two ‘great wars,’ the groundwork is being laid well ahead of time.
A large American military force disembarked Tuesday, June 4, at the southern Jordanian port of Aqaba – ready for deployment on the kingdom’s Syrian border, DEBKAfile’s exclusive military sources report. The force made its way north along the Aqaba-Jerash-Ajilon mountThursday, June 06, 2013 |
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 | Jon Matonis - The Monetary Future |
| New Bitcoin VC Fund Seeks Edge with Regulatory, Security Skills |
| A new investment fund dedicated to Bitcoin startups aims to bring
digital money entrepreneurs up to speed in two areas where they have
proven most vulnerable: network security and compliance.
This month Liberty City Ventures, based in New York, launched the $15 million Digital Currency Fund,
which seeks to invest in all types of firms in the Bitcoin ecosystem,
including exchanges, banks, brokerages, investment services, insurance,
infrastructure, and supporting products and services. It isWednesday, June 05, 2013 |
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| Mish - Global Economic Analysis |
France Considers Ban on Free Shipping by Amazon. Prepare for Economic collapse  |
| The amount of economic illiteracy in France is simply staggering. Please consider French minister hits at Amazon ‘dumping’.
France’s culture minister has attacked Amazon, the online retailer, for deliberately undercutting traditional rivals to create a “quasi-monopoly”, in the latest assault by the socialist government on internet companies.
“Today, everyone has had enough of Amazon which, through dumping practices, smashes prices to penetrate markets to then raise prices again once they areTuesday, June 04, 2013 |
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 | Bob Hoye - Institutional Advisors |
| Mark Carney |
| The Governor of the Bank of Canada, Mark Carney, has become Governor of the
Bank of England. No change in actual title, but hired at considerably higher
compensation than that of the previous Governor. Mr. Carney brings to the
position a pleasant visage and speaking voice. Obviously his new employers
are expecting much more than that.
Although a stretch, it reminds of when England's government appointed Isaac
Newton to head up the Mint. Some have written that there was hope that tTuesday, June 04, 2013 |
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| Mish - Global Economic Analysis |
| Bad Weather in France to Blame For ... |
| Courtesy of my friend Bran who spotted these weather related anomalies in France. Via Google translate, it appears that French economists blame the weather for ...
Delayed maturation of fruits and vegetables
Disrupted cows
Public work productivity declines
Increased electrical consumption
Construction degradation
5 to 10% drop in tourist reservations
Decline in bridge traffic in May between 10% and 30%
30% drop in custom restaurants due to closed outside terraces
Sacrebleu!
Mike "Mish" STuesday, June 04, 2013 |
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| Mish - Global Economic Analysis |
| Huge Miss in May ISM; Manufacturing Now in Contraction; What the Numbers Mean |
| US Manufacturing as measured by the May 2013 Manufacturing ISM Report On Business® is treading water barely above contraction.
Economic activity in the manufacturing sector contracted in May for the first time since November 2012, and the overall economy grew for the 48th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.
ISM at a Glance
Series DataApr IndexMar IndexPercentage Point ChangeDirectionRate of ChangeTrend (Months)
PMI™49.0Monday, June 03, 2013 |
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| Mish - Global Economic Analysis |
| Reader from Finland Chimes in on Sweden Housing Bubble |
| In response to Sweden Housing Crash Coming Up; Average Swede to Repay Mortgage in 140 Years; Swedish Central Bank Ponders New Rules I received an interesting email from reader Antti who writes ....
Hi Mish,
An interesting factor, which is potentially going to amplify the pain (a lot) in Sweden is how their law is written regarding apartment buildings and ownership. Unlike my native Finland, where most apartment buildings have their special type of incorporation where each stockholder has mortgMonday, June 03, 2013 |
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| Mac Slavo - ShtfPlan |
| A Shocking Wake Up Call: This Is How Far The Police State Has Come *Video* |
| We often talk about the destruction of American values and the rule of Constitutional law as if it were some future event.
What if it’s already too late? What if the police state we fear is coming… is already here?
The evidence is crystal clear, is it not?
This is a shocking wake up call, and one that every American who is denial about the direction in which our Republic is headed needs to see.
It’s been a long time coming.
But tonight, because of what we didMonday, June 03, 2013 |
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| Jesse - Le Café Américain |
| Taibbi: Allegedly SEC Policy Not To Pursue Investment Management Fraud Allegations LIke Madoff |
| It sometimes looks like open season on the small investor and the public at large with some very selective enforcement of the laws.
"All animals are equal, but some are more equal than others."
Why Didn't the SEC Catch Madoff? It Might Have Been Policy Not To
By Matt Taibbi
May 31, 5:20 PM ET
More and more embarrassing stories of keep leaking out the SEC, which is beginning to look somehow worse than corrupt – it's hard to find the right language exactly, but "aggressively clueless" comesSunday, June 02, 2013 |
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| Mish - Global Economic Analysis |
| Sweden Housing Crash Coming Up; Average Swede to Repay Mortgage in 140 Years; Swedish Central Bank P |
| Average Swede to Repay Mortgage in 140 Years
Swedish repay their mortgages so slowly that it will take 140 years on average, according to the IMF.
The International Monetary Fund lamented Friday that Swedish households pay their mortgages so slowly that they are planning to do an average of 140 years.
"Financial stability is [...] reinforced by a steady reduction in repayment schedules - that exceed an average of 140 years," the IMF said in a statement after a mission in Sweden.
This statisSunday, June 02, 2013 |
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