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DATELINE: March 25, 2015

DEheadlines_orig

Silence Falls on Chicago Trading Pits
Open-outcry futures trading, a profession that took root here in the mid-19th century, becoming part of the city’s identity and influencing trading systems around the world, is going extinct. (Read Full Story)

Is Wall Street lying, manipulating or just too greedy?
“How can you tell when alcoholics and addicts are lying? Their lips are moving!” Same test fits Wall Street, they’re lying when their lips are moving. We have four years of proof and 17 examples. (Read Full Story)

They Are Slowly Making Cash Illegal
The move to a cashless society won’t happen overnight. Instead, it is being implemented very slowly and systematically in a series of incremental steps. All over the planet, governments are starting to place restrictions on the use of cash for security reasons. As citizens, we are being told that this is being done to thwart criminals, terrorists, drug runners, money launderers and tax evaders. Other forms of payment are much easier for governments to track, and so they very much prefer them. But we are rapidly getting to the point where the use of cash is considered to be a “suspicious activity” all by itself. (Read Full Story)

Congress Clears Deck for Pension Decimation
Many retirees are unaware of the risk to their pension as a result of the legislation passed in December as part of a spending bill meant to run the federal government through the rest of its fiscal year. (Read Full Story)

How Governments Worked WIth the Banks to Create the $555 Trillion Interest Rate Bubble
The big story in the world is the bond bubble. For over 30 years, sovereign nations, particularly in the West have been buying votes by offering social payments in the form of welfare, Medicare, social security, and the like. The ridiculousness of this should not be lost on anyone. Politicians, in order to be elected, promise to allocate taxpayer… (Read Full Story)

Gold: The Tortoise Beats The Hare
The tortoise always beats the hare. Allow me to elaborate: while net gains of $1 – $2 a day in the price of gold may seem boring, with roughly 250 trading days in a year, that can translate into price appreciation of $250 – $500. (Read Full Story)

US Customs seizes $65K in fake 100-dollar bills
The counterfeit money was concealed in place mats and a shoe bag from Ecuador, U.S. Customs says. (Read Full Story)

The Real Reason The American Dream is Unraveling
Do these control freaks ever step back and assess how that war (on Poverty) is going? (Read Full Story)

Silver Price Poised to Surge
Today’s brutal lows and extreme universal bearishness are the perfect breeding ground for silver’s next big rally. (Read Full Story)

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Wow!!! The Fed Gives A Giant Fuck You to Working Class Americans!!

bird-flipping-innovationsI was shocked today by the absolute gaul of the Fed releasing a statement about Net Worth in America reaching record levels. Now I get that they are under extreme pressure to sell the story that everything is rainbows and butterflies. But surely they understand that working class Americans are going along with the story because they really don’t have any say in our nation’s policies anymore. That doesn’t mean they want it thrown in their faces that the Fed has spent 6 years now inflating the wealth of the top 10% so much that it actually lifts the total wealth of the nation’s citizens to record highs.

The ugly reality is that the bottom 80% of Americans experienced none of that gain. That’s right a big ole goose egg. And so when the Fed via its ass pamper boy, Steve Liesman, start banging on about the fact that some sliver of society is being handed extraordinary wealth while the working class has lost 40% of their net worth since 2007, well a big fuck you right back at ya bub! The Fed is very aware that the bottom 80% of Americans own less than 5% of US equity markets. And so the Fed is very aware that its manipulation of stock prices such that it creates immense unearned wealth to those in the markets doesn’t reach the bottom 80%. So why celebrate the results of the stock market price manipulation?? Continue reading

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Tender Mercies

Dollar_burningMarch is a tough month historically for the metals. I would that it were not, but it is.

And don’t the wiseguys know it, and they and their shills help it along.

And it seems to be a month that attracts quite few supercilious comments about values and valuations.

However, it is what it is. Gold and silver have failed to break out of the downtrend. That has been obvious for some time, since gold broke down hard through 1200. Continue reading

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DATELINE: March 8, 2015

DEheadlines_orig_largeUkraine bans gold transactions over $125
The National Bank of Ukraine announced new capital controls on currency transactions. All Interbank Transactions Over $10,000 are Banned. (Read Full Story)

Illinois Pension Plans 39% Funded
Taxpayers on the hook for $105 billion in liabilities; It will get worse! (Read Full Story)

The Hunger Games Comes To Washington, D.C.
Fat Of The Land: Time was when the way to get ahead in this country was to make things that improved lives and increased prosperity. Now all you have to do is push paper for the federal government. (Read Full Story)
Maguire – Who Smashed Gold
HSBC Shocks clients by closing ALL London gold vaults! (Read Full Story)

Willie: Interest Rates Will Never Rise
As this debt based fiat currency system continues with QE, etc interest rates will NEVER rise again until everything blows up and collapses. This guys’ willie must have gone LIMP! (Read Full Story)

Historical Employment Data
How Many People Are Actually Employed? This chart shows the actual employment rate without all the mumbo jumbo. (Read Full Story)

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Gold may take a shine to $1,700 an oz. by 2016

Got Gold-Nell_McAndrew_webDon’t expect to see much of a climb in gold prices this year, but a spike to $1,700 an ounce or more could come as early as the summer of 2016.

Gold futures prices on Comex closed at $1,210.10 an ounce on Thursday, with the metal stuck in a range of just over $114 an ounce year to date, based on the most-active contracts.

“Gold will see another parabolic bull run from July 2016,” speculated Chintan Karnani, chief market analyst at Insignia Consultants. Until then, “gold investors need to have the patience and not get scared by more price falls.”

Prices may reach $1,700 or higher between June 2016 and November 2016, he said. Continue reading

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Gold appetite in February highest in nearly a year

i.0.s-gold-businessInvestors had a yen for gold last month. BullionVault’s Gold Investor Index climbed from a five-year low to 54.5 in February — its highest level in 22 months and its fastest increase since April of 2013.

The index, run by the Internet-based metals exchange operator BullionVault, tracks the balance of private investors starting or growing their gold holdings on online precious-metals market against those who cut or sold off their holdings. So a reading above 50 suggests that there are more buyers than sellers in the market for the precious yellow metal. Continue reading

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Bennett: The Hiatus is Over (Photos)

Dateline: March 1, 2015

JFB_2009_portThis past eight months have gone by, and I owe our readers an apology.

On June 23rd, 2014 I moved into my son’s home in Phoenix, Arizona, with the intent of a two month clean-up, paint and minor repair renovation. The purpose: To resell the home at a fair and comfortable profit for the kids. It sure beat selling it for less that what they had paid but two years earlier.

The intent of well laid plans wasn’t meant to be. In a few more days I will be witnessing my ninth full moon in this place, which I now recognize as Heaven on Earth. For those who regularly listen to my daily broadcast, this project has turned into one of total restoration of a home that was built sometime before 1955 and 1962. The jury seems to be out on that one as of yet – but we’ll get it figured out. Continue reading

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Dateline: February 18, 2015

DEheadlines_orig_largeS&P 500 Breaks Even After 14 Years, 11 Months
The suckers who did not sell the S&P 500 on March 24, 2000 broke even yesterday: February 17. It closed at 2100. On March 24, 2000, the S&P 500 peaked in terms of purchasing power. It closed at 1527. Go to the inflation calculator of the Bureau of Labor Statistics. It is here. (Read Full Story)

How Will the FED Raise Interest Rates?
Everyone is talking about the FED’s promise to hike interest rates. But nobody is talking about how the FED will do this, except for me. Next time you read a story like this one, ask yourself: “How will the FED pull this off?” When Group of 20 finance ministers this week urged the Federal Reserve… (Read Full Story)

Shiller’s Warning: Crash Ahead
The news on the investment front is not good. Nobel Prize-winning economist Robert Shiller has a grim message for investors: Save up, because in the years ahead, assets aren’t going to give you the type of returns that you’ve become accustomed to. In his third edition of “Irrational Exuberance,” which will drop later this month… (Read Full Story)
US foreclosures hit a 15-month high in January
A total of 37,292 homes were repossessed in January, a 15-month high. Overall, 119,888 properties were at some stage of the foreclosure process. (Read Full Story)

The Top 10 Foreign Holders of US Government Debt (in one graphic)
“Never lose sleep over the overall debt of any monetarily sovereign nations such as the U.S. since it can never run out of dollars.” Oh, that’s reassuring. (Read Full Story)

‘Priceless’ trove of 2,000 gold coins used by 10th Century Caliphate which once ruled much of the Middle East is found off the coast of Israel
Experts who eventually counted 2,000 pieces, dating back more than 1,000 years, described the discovery as ‘priceless.’ The coins are now property of the state with no finder’s fee for the divers. (Read Full Story)
Gold: Divers uncovered almost 2,000 gold coins in different denominations, circulated by the Fatimid Caliphate, which ruled much of the Middle East and North Africa from 909 to 1171

Gold: Divers uncovered almost 2,000 gold coins in different denominations, circulated by the Fatimid Caliphate, which ruled much of the Middle East and North Africa from 909 to 1171


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Dateline: February 12, 2015

DEheadlines_orig_largeChinese_gold

Remember the China herdsman who found a giant gold nugget? The government does
Remember the lucky Chinese herdsman who recently stumbled onto a 17-pound gold nugget? Well, it seems China’s government hasn’t forgotten, as the nugget’s finder may now be forced to surrender his find to the state as a public “mineral resource.” (Read Full Story)

Ominous Tweet From Matt Drudge About Obama: “Like He Knows Something Terrible Coming… Very Unsettling”
What do you think? Does Drudge have the inside scoop? Or does he, like many Americans, understand that we are living on borrowed time and all signs are pointing to something terrible coming in the near future? (Read Full Story)

McConnell: DHS Funding Stuck In the Senate, Up To The House
Senate Democrats blocked debate on the DHS funding bill ­ which would fund all of DHS but defund President Obama’s executive amnesty ­ three times last week. (Read Full Story)
America is Choking: Operation Chokepoint
… the US government is waging a new war. It’s an undeclared war. It’s an underground war. It’s a covert war. But now, slowly but surely, more Americans are becoming aware of this war because they are finding out that they are the targets in this war. They have become the enemy of the state. That’s because this war is a war on small business in America. (Read Full Story)

Federal Election Commission to Consider Regulating Online Political Speech
Which could makes web-sites and blogs such as this one – greatly alter the information we share with our clients. (Read Full Story)

Net Neutrality = Price Controls
Price controls my assets. This is designed to CONTROL the internet and its’ content. (Read Full Story)

Business of Global Warming Fraud
The game is up. Time to end this con job. Too bad that the ‘Jig‘ isn’t up! (Read Full Story)

3 ways to make an extra $5,000 this year
It’s never a bad thing to have extra money in the bank to spend on essential (or non-essential) items. Unfortunately, getting that extra money isn’t as easy as snapping your fingers or opening up a Monopoly game. (Read Full Story)

Will the United States End Up Like Greece?
Don’t bend over before the IRS or you might find the answer. (Read Full Story)
Guess What Happened The Last Time The U.S. Dollar Skyrocketed In Value Like This?…
Over the past decade, there has been only one other time when the value of the U.S. dollar has increased by so much in such a short period of time. That was in mid-2008 – just before the greatest financial crash since the Great Depression. (Read Full Story)

Shadow of Financial Crisis Has Not Passed Part III
But de Shadow be knowin’ too much fo’ my liking…. (Read Full Story)

Banks Overplayed Hand Fighting Regulation
The financial industry is finding that winning in Washington comes at a cost. (Read Full Story)

The Fed’s Accelerating Economy Theory Versus Tens of Thousands of Job Cuts
Increasingly, the Federal Reserve appears to be telling Americans: don’t believe your lying eyes — or ears. (Read Full Story)

Mountains of pre-packed food found in filthy rat-infested home of hoarder owner who thought he was preparing for the apocalypse
The unidentified man’s condo filled with boxes, cans, and piles of food across every square inch was found by the Hello Junk Removal company after they got a call about the conditions. (Read Full Story)

Two people have emigrated to the US for every new job since 2000, including at least 4.5 MILLION illegal immigrants, as Capitol Hill battle gathers steam
The pressures on America’s labor market could be extreme in coming years as wave after wave of immigrants crowd into the U.S. and compete for increasingly scarce paying positions. (Read Full Story)

Colorado brought in $44million in new sales taxes from recreational marijuana
Adding fees and pre-existing taxes from medical pot, which has been legal since 2000, and Colorado’s total 2014 pot haul was about $76 million. (Read Full Story)

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February 5, 2015

DEheadlines_orig_large

Massive Worldwide Layoff Underway At IBM
Project Chrome, a massive layoff that IBM is pretending is not a massive layoff, is underway. First reported by Robert X. Cringely (a pen name) in Forbes, about 26 percent of the company’s global workforce is being shown the door. At more than 100,000 people, that makes it the largest mass layoff at any U.S. corporation in at least 20 years. (Read Full Story)

Millenials Short of Income and Crushed By Debt
Millennials are not budging from their parents’ basements, even though the job market is on the mend (Hahahahahaha). One really big reason? Student loans. (Read Full Story)

Fed Optimism Could Cost Economy Dearly
Is the Fed overoptimistic about where the economy is headed? If so, that could cause the central bank to raise interest rates too soon, a policy error that could leave the economy stuck in a “deflationary trap” and remain at subpar growth levels for an extended time period. (Read Full Story)
Fed’s Bullard Calls For Breaking Up Nation’s Biggest Banks
Federal Reserve Bank of St. Louis President James Bullard warned Tuesday regulatory changes haven’t solved the too-big-to-fail problem in banking, adding that he’d support a break-up of the biggest banks in the U.S. (Read Full Story)

Where in America Jobless Rates Have Dropped Below 5%
More than 40% of some 372 metro areas in the U.S. had jobless rates below 5% in December, and the vast majority of them added jobs from a year ago, another sign of the broad improvement in the labor market. (According to whom?????) (Read Full Story)

The Big Lie: 5.6% Unemployment
Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading. (Read Full Story)

It Is About To Get Ugly: Oil Is Crashing And So Is Greece
The price of oil collapsed by more than 8 percent on Wednesday, and a decision by the European Central Bank has Greece at the precipice of a complete and total financial meltdown. What a difference 24 hours can make. (Read Full Story)

The Golden age of QE and the FIAT endgame
As you are doubtless aware we are living in a new paradigm – the age of global QE has arrived. Amongst the major power blocs it started with the US, spread to Japan, which adopted it with a particular gusto, after suffering from deflation for decades, and just has been taken up by Europe in a big way, after waiting for half its young people in… (Read Full Story)

New Gold Buying Hits 21-Month High

But so do sales, led by 2013’s disappointed ‘bargain hunters’, leaving sentiment at 5-year low… (Read Full Story)

Got an IRA or a 401(k)? This could affect you
Obama’s 2016 budget proposes a lifetime cap on contributions to 401(k)s and IRAs. Will you be able to save enough for retirement? (Read Full Story)

Repeat After Me: The US Dollar Is Not Real Money
The post-Bretton Woods monetary system — in which money, unanchored from gold, became a foggy concept…and the US dollar became a pure IOU from someone we don’t know — is a fraud. (Read Full Story)

Could a Strong Dollar Actually Cause Problems?
It seems that there is the possibility for danger no matter which way the economy goes. You would think that a strong dollar would be a good thing… after-all it allows us to buy things more cheaply on the global market. If our money goes further we are richer, oil is cheaper, imports cost less, etc. But… (Read Full Story)

What’s In Store For Gold Price in 2015?
The year started out strong and many gold bulls called the end of the downtrend. However a strengthening US Dollar, signs of economic growth in the US, and concerns over the Fed’s tapering program put an end to the bull market pretty early in the year when gold peaked in March at ~$1,370/oz. (Read Full Story)

Silver Is A Better Choice Than Gold!
People who have trusted the paper market first go to gold when they have their awakening [because it] is the largest precious metals market in the world and has the most advertising behind it. They have seen it in movies as pirate treasure and maybe heard it was confiscated many years ago… In short, gold is the gut reaction for most paper investors who want out of the casino. But… (Read Full Story)

The Gravy Train Is Over For Welfare Recipients: ‘Earn Your Keep or Go Hungry’
If you don’t work, you don’t eat. It’s a natural law of survival. (Read Full Story)

Precious Metals: The Forecasting Problem
“The problem is not that there are problems. The problem is expecting otherwise and thinking that having problems is a problem.” ~ Theodore Rubin (Read Full Story)

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and you thought that things improved while we were away???

4th Quarter GDP: Happy Days Are Here Again (not)
The Commerce Department reported that GDP grew at a 2.6 percent annual rate in the fourth quarter, roughly a half point below most forecasts. This brought growth for the year (fourth quarter to fourth quarter) to 2.5 percent, a modest slowing from the 3.1 percent rate in 2013. Since GDP is the broadest measure of overall economic activity, the weak quarter and weak year-round performance might seem to fly in the face of all the upbeat news we’ve been hearing on the economy recently. (Read Full Story)

JPMorgan to pay $99.5 million to resolve currency rigging lawsuit
… and the fines for deceptive practices just keep rolling along! (Read Full Story)

Federal Reserve New York Gold Withdrawal Numbers 2014 Don’t Match Repatriation Claims
“Where’s the GOLD, Daddy?” (Read Full Story)
Economy grows, incomes shrink
Americans continue to lose money while corporate profits soar. (Read Full Story)

Revolving Door’ Between Fed and Banksters Spins Faster and Faster
It seems like working at either is becoming a game of “Old Maid”. (Read Full Story)

Taibbi: America Quietly Robs Its Elderly
Whether the solution is a new law or simply raising awareness, beware of the Ferris wheel… (Read Full Story)

Wall Street for President?
Why not? They are running it (into the ground) anyway… (Read Full Story)

Middle class families are on financial thin ice
“Dey is ‘po’ – as in poverty struck.” ~ Redd Foxx (Read Full Story)

The Death Of The American Dream In 22 Numbers
With each passing year, more people are falling out of the middle class, and most of the rest of us are scrambling really hard to keep our own places. Something has gone horribly wrong, and yet Americans are very deeply divided when it comes to finding answers to our problems. (Read Full Story)

Birth Pangs Of The Coming Great Depression
The signs of the times are everywhere – all you have to do is open up your eyes and look at them. (Read Full Story)

Reaganomics Beats Obama’s ‘Middle Class Economics’ By A Country Mile
President Obama has taken to touting his “middle class economics” as a big success. That’s difficult to believe, given the latest GDP numbers, and impossible when you look at his complete record.On Friday, the Bureau of Economic Research reported that the last quarter of the year … (Read Full Story)

Collapsing Homeownership Proves Folly Of Federal Housing Policies
The homeownership rate continues to dive, wiping out the gains from last decade’s housing boom. Many Americans have nothing to show for federal policies boosting … (Read Full Story)

“Helicopter Money and Debt Cancellation” Are the Endgame
The European Central Bank today revealed its long-awaited asset-purchase program, also known as “Quantitative Easing.” The ECB will purchase 60 billion euros of debt assets per month beginning in March, and continuing to at least September 2016, for a total of 1.14 trillion of asset purchases. These purchases will be paid for “with… (Read Full Story)

American Small Business is Literally Dying
When small and medium-sized businesses are dying faster than they’re being born, so is free enterprise… (Read Full Story)

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Silver Ready to Run

KMPMSilver looks to be on the verge of a major new upleg, finally emerging from the past couple years’ ugly sentiment wasteland.This beleaguered precious metal recently bottomed as futures speculators threw in the towel on their extreme shorting. And while investors’ ongoing silver stealth buying continues, it’s been modest. So there is vast room for capital inflows to accelerate dramatically as gold mean reverts higher.

Silver has always had a special allure for hardened contrarian investors.Its price action is exceptionally volatile, with massive rallies erupting from time to time that multiply capital deployed in it. With silver’s relatively-small market size, it doesn’t take a lot of new investment buying to catapult prices higher. And shifting sentiment, a powerful self-feeding motivator, fuels the big swings in capital flows that really move silver.

When investors wax bullish on this white metal, its price soars with a fury few other investments can match. Later when silver falls out of favor again, prices collapse.And that’s the miserable story of the past couple years. Silver dropped 19.7% in 2014 after plunging a brutal 35.6% in 2013.Such dismal performance naturally left silver universally despised, the pariah of the investment world. But that is changing. Continue reading

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Going down the road to the Grateful Dead Retirement Community

I’ll be honest. The thought of being in a retirement community in my later years surrounded by Deadheads doesn’t sound bad.

VW_mini busThat was my reaction after reading an article in the New York Times recently about how niche and specialized retirement communities are being created to cater to people with similar interests and passions, even an affinity for the Grateful Dead.

The Times story discusses communities that cater primarily to those in “specific” markets such as the LGBT community (Fountaingrove Lodge) and to entertainment professionals (Lillian Booth Actors Home, around since 1902).

The wonderful thing about these communities is that they provide a community of “like minded” people to spend one’s later years with. They are often not cheap — the Fountaingrove Lodge has a $750,000 entrance fee — but they provide an experience that is more unique and focused than your typical retirement community. Continue reading

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The Top 5 Things That Screw Over Americans in 2015 Spending Bill

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On the Economic Boom: Too Much Eggnog?

Burning-Cash-BoozeI hate to put a damper on the party, but the some of the reporting on the economy is getting a bit out of hand. The Post gave us an example, with a piece on the revised fourth quarter GDP numbers headlined, “Robust Economic Growth in the third quarter raises hopes that a boom is on horizon.” That’s not what Mr. Arithmetic says.

First, just to be clear, the third quarter numbers were definitely good news. Five percent GDP growth is a solid economic performance by any measure, so there is no doubt that it is a big step forward by any measure. The economy is clearly growing, and likely at a reasonably respectable rate. The issue is whether the term “boom” is appropriate. Continue reading

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