April 20, 2016 3:40 pm est
Something BIG is going on behind the curtain…
BREAKING NEWS! Fed To Hold Closed, Unexpected Meeting Under “Expedited Procedures” On Monday
Also: Obama Announces Unexpected Meeting With Yellen Following Tomorrow’s “Expedited Procedures” Fed Meeting
Don’t worry friends, I’m sure it’s nothing. I’m sure the meeting is about finding a new supplier for ink and paper or something like that. Are you kidding me?!
URGENT: I wanted to share the following short video with you today because I feel this issue is worth a re-visit. It is a prediction for 2016 from the same person that predicted (accurately) the events that unraveled last year 2015. If this prediction is only half true, then we are in for a nasty year and everyone should prepare now – at least with the knowledge.
I’m not saying this will happen, I’m saying it could, and when a person predicts something with uncanny accuracy that has come to pass already, it’s hard to ignore him when he makes another dire prediction with such passion.
U.S. Braces for Worst Earnings Season Since 2009 Crisis: Chart – U.S. corporate profits are expected to drop the most in 6 1/2 years in the first quarter, led by a wipe-out in the embattled energy sector. Earnings for companies in the Standard & Poor’s 500 Index will fall 9.8 percent year-over-year, which would be the sharpest decline since the third quarter of 2009 and a fourth consecutive quarter of contraction, according to Bloomberg data. Results will be insufficient to justify current stock valuations.
STANLEY DRUCKENMILLER: ‘This is the most unsustainable situation I have ever seen in my career’ – Today is another time when we all need to be paying attention. This time, the man we need to be listening to is Stan Druckenmiller. For 25 years as a hedge fund manager, Druckenmiller compounded money at an annualized rate of return of 30%. Incredibly, he did it without a single down year.
Druckenmiller has a dire warning for all of us. One that requires action. There is nothing for Druckenmiller to gain from providing this warning. He isn’t talking his book or trying to gain investor support — he isn’t promoting anything. He doesn’t even have a political agenda.
He is spending his own time and money to try to bring this issue to light because he believes it is crucial for the United States. Druckenmiller simply believes that America is heading for a disaster, and he is trying to use his high-profile position to get people motivated to stop it.
19 Facts That Prove Things In America Are Worse Than They Were Six Months Ago – In this article, you will find solid proof that the U.S. economy has continued to get worse over the past six months. Unfortunately, most people seem to think that since the stock market has rebounded significantly in recent weeks that everything must be okay, but of course that is not true at all.
If you look at a chart of the Dow, a very ominous head and shoulders pattern is forming, and all of the economic fundamentals are screaming that big trouble is ahead. When Donald Trump told the Washington Post that we are heading for a “very massive recession“, he wasn’t just making stuff up. We are already seeing lots of things happen that never take place outside of a recession, and the U.S. economy has already been sliding downhill fairly rapidly over the past several months.
Something Is Melting Down In The Global Financial System – The only conclusion we can draw from this is that something has blown up in the global financial system which caused unpredictable instability in – and loss of control over – the Fed’s manipulation mechanisms.
I believe the likely culprit is Deutsche Bank. As I have commented on several times previously, Deutsche Bank’s balance sheet is a ticking financial nuclear time bomb. It’s the financial system’s “Hurt Locker.” Since March 11, Deutsche Bank stock is down 25% despite the inexorable move higher by the S&P 500. DB is down 9% in four trading days this week. Despite the Fed’s attempts to monetize DB’s derivatives DB’s stock is telling us that DB’s financial condition is melting down.
This is likely the reason that gold has been a stellar performer for the past three weeks despite the general expectation that the bullion banks were in a position to smash the precious metals once again. But every attempted downward manipulative hit has been met with aggressive buying.
And also read… Deutsche Bank Isn’t the Only Sick Mega-Bank
And that is why we are saying…
Don’t Be Surprised By A Sudden, Strong Movement In Price of Silver – Here’s Why – Silver is undervalued…[these days but] has shown over time that it can jump up in price with sudden, strong movements.
Today’s info-graphic, which covers silver’s biggest win and loss streaks since 1970, really helps to show the magnitude of this volatility. In fact, silver has gone on 58 such runs where it jumped more than 10% in price in a mere matter of days.
China Importing Silver at Record Pace; Indians Cling Tightly to Gold – Asian countries are not only buying up gold, they also have a huge appetite for silver. Chinese imports of the white metal are on a record-breaking pace this year, driven partly by strong demand for jewelry and industrial applications such as solar panels.
According to the Wall Street Journal, based on the current trend, Chinese silver imports will top 3,000 tons in 2016, making it the best year since 2011:
Silver Price: New Data Points Suggest Silver Prices Could Explode – It’s probably time to stock up on silver, one of the best performing investments so far this year. Concerns about global economic slowness have prompted risk-averse investors to seek safe haven in the devil metal and its peers, staying away from the highly volatile stock market.
Recent data compiled by Bloomberg shows that holdings in silver-backed exchange-traded products (ETPs) jumped 845.6 metric tons in March, heading for the biggest monthly increase since August 2013.
John Hathaway Warns Panic Into Physical Gold To Cause The Price Of Gold To Skyrocket – “We are seeing record inflows into gold ETFs. I’ve been saying for over a year that there is very little gold vaulted in London to support that demand, so you are going to see a scramble for physical gold, which is what the ETFs have to have. That, to me, is the big story.
Investors will buy an ETF and then they will see something like the Barclays ETF have a glitch and they will start to ask questions about whether synthetics or surrogates for physical gold are the right thing to own because of the counter-party risks and the type of things we saw with Barclays.
So we will start to see more investors move up the food chain into physical metal, but the metal just isn’t available at this price level. You will then see a serious scramble for physical gold and that will translate in to much, much higher prices than what is being quoted today.”
Investing in Physical Gold: You Can’t Hack it, Erase it or Delete it – “However, You don’t want paper gold, you don’t want ETFs, COMEX futures or London Bullion Market Association unallocated gold. The reason is they are all paper contracts. When you most want the gold, they’ll terminate early, close the exchange, the Comdex will say ‘trade for liquidation only,’ you won’t be able to get the physical. They sell 100 times more gold than they have and that’s okay because futures exchanges always have large open interest, “
Gold is the pile of poker chips in the next global crisis – The oldest joke in banking is that if I owe you $1 million, I have a problem, but if I owe you $1 billion, you have a problem. This is because I can always default and leave you holding worthless paper. Since the U.S. owes China $2 trillion, the problem is theirs, not ours. The U.S. will default on this debt by inflation (it’s the American way). China realizes this and is acquiring gold as a hedge against inflation in its dollar-denominated assets.
In any monetary reset, countries will come together and sit around the table. One can think of that meeting as a poker game. When you sit down at the poker table, you want a big pile of chips. Gold functions like a pile of poker chips in this context. This doesn’t mean that the world automatically goes to a gold standard. It does mean that one’s voice at the table is going to be a function of the size of its gold hoard.
Gold Prices: Here’s What the Federal Reserve Doesn’t Want You to Know – Sometimes readers will ask, “why do they hate gold so much?” That one is easy—the central bankers and their crony politicians hate gold for the same reason tanning salons hate the sun. Because gold cannot be printed or destroyed, it exists in limited and quantifiable amounts, and therefore, unlike paper money, there is a limit, a tether, on the amount of incompetence and financial mismanagement our elected governments can get away with without being called to account.
Sprott Scarfing Down More Silver! – The Sprott Physical Silver Trust has announced a secondary offering to buy $75 million worth of silver. If past is prologue, PSLV purchases will suck out of the physical market enough silver, at the margin, to eventually send the entire precious metals space higher.
In a roundabout way, this secondary could end up meaning that silver would be in the $20s a heck of a lot sooner, for example, and that would benefit you and everyone. The cartel has executed a managed retreat from the depths of hell circa sub-$14 silver, with their new “no mas” line at $16. This secondary is going to make getting through $16 happen, with momentum.
The next line in their sand would come at around $18.50 and that would have been hard to get past without a lot of multiple attempts, and the same sort of b.s. we see right now re. $16. We will probably be looking at $18.50+ a heck of a lot sooner, given this secondary.
Source: Eric Dubin
And the WTF Story Of The Week Goes To…
Americans spend more on taxes than food, clothing, housing combined – The Tax Foundation, in its annual report on when the nation as a whole has earned enough to pay its taxes, announced the date as April 24.
“Tax Freedom Day gives us a vivid representation of how much federal, state, and local tax revenue is collected each year to pay for government goods and services,” said Tax Foundation Analyst Scott Greenberg. “Arguments can be made that the tax bill is too high or too low, but in order to have an honest discussion, it’s important for taxpayers to understand the cost of government.
Tax Freedom Day helps people relate to that cost.”
The report’s key findings include: