• GoldCore
    09/04/2015 - 07:43
    Large pools of gold in indebted nations will be vulnerable. Pool accounts, digital gold bullion vaulting providers and depositories in the UK and the US might have their companies and assets...

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Chinese Roulette

Sunday night looms...



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No Inflation Friday: The Government Admits Its Own Statistics Are Phony

We can look at official statistics to get a sense of inflation, but these numbers are totally meaningless. When I was a kid, my father earned enough money to support his family with a single salary. We had a house, a car, an occasional vacation, and we never missed a meal. All on one income. But those days are long gone. Now it’s almost obligatory to live in a dual-income household just to make ends meet. The official statistics never paint this picture.



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#Wynn-ing? Casino Magnate Joins Trump Campaign

In yet another somewhat surreal twist in The Donald's path to The White House, Fox Business reports the long, sometimes contentious relationship between Donald Trump and Steve Wynn has taken another turn, with the Las Vegas casino magnate serving as an unofficial adviser to Trump’s presidential campaign. Having known each other for 30 years, Fox's Gasparino notes that they have clashed in the past (Wynn on Turmp in 1998 "He's a fool," and Trump on Wynn "he's a very strange guy.") but in recent years both have been critical of the leftward tilt of the Democratic Party and president Obama.



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Meanwhile In Submerging Markets: An FX Bloodbath

Things were already bad enough for emerging markets going into August. Persistently low commodity prices, slumping demand from China, depressed global trade, and a “diminutive” septuagenarian waving around a loaded rate hike pistol in the Eccles Building had served to put an enormous amount of pressure on the world’s emerging economies. And then, the unthinkable happened.



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Czech Cops Haul Refugees Off Trains To Germany, Writes Numbers On Their Arms In Ink

For most of us, the image of a serial number on a forearm conjures up indelible images of 1940s Germany, but it seems this is not the case for the Czech police, who adopted the controversial practice earlier this week.



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Fallout From Petrodollar Demise Continues As Qatar Borrows $4 Billion Amid Crude Slump

Early last month, we noted the irony inherent in the fact that Saudi Arabia, whose effort to bankrupt the US shale space has been complicated by the Fed's ZIRP, was set to opportunistically tap the debt market in an effort to offset a painful petrodollar reserve burn. As Bloomberg reports, Qatar is now doing the same, "raising money from local banks as the slump in oil prices buffets the finances of the Middle East’s largest oil and gas exporters."



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End Of Cheap Fossil Fuels Could Have More Severe Consequences Than Thought

The characteristic feeling of the post-2008 world has been one of anxiety. Occasionally, that anxiety breaks out into fear as it did in the last two weeks when stock markets around the world swooned and middle class and wealthy investors had a sudden visitation from Pan, the god from whose name we get the word "panic." Pan's appearance is yet another reminder that the relative stability of the globe from the end of World War II right up until 2008 is over. We are in uncharted waters. The relentless, if zigzag, rise in financial markets for the past 150 years has been sustained by cheap fossil fuels and a benign climate. We cannot count on either from here on out...



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Crude Jumps After US Oil Rig Count Collapses By Most In 4 Months

After 6 straight weeks of rig count increases, last week saw a 13 rig drop - the most since May. This leave the rig count at its lowest since July 24th. WTI Crude jumped 60c on the news and is holding gains...



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Dow Dumps 600 Points From Last Friday's Panic-Buying Ramp, Drops 10% Year-To-Date

Remember last Friday? The Dow screamed 140 points higher in the last hour of the day to "prove" everything was awesome into the weekend. It wasn't! With The Dow down 300 points today, it is now 600 points below those panic-buying highs just a week ago...



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"We've Run Out Of Buyers" - Half Of Homes In New York Are Now Losing Value

"What happens in any bull asset bubble such as what we've seen is you run out of buyers. It's hard to get deals done if the bottom third can't get a mortgage."



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Bull Or Bear?

The can is no longer rolling along. Instead, it has come to a near halt, with central bankers and government policymakers desperate to give it another boot. Watch out!



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Must Be The Weather?

Low oil prices? Low interest rates? Jobs galore? Wages pressures? Time for a rate hike? Then explain this...



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Why Capital Is Fleeing China: The Crushing Costs Of Systemic Corruption

Corruption isn't just bribes and influence-peddling: it's protecting the privileges of the few at the expense of the many. Rampant pollution is corruption writ large: the profits of the polluters are being protected at the expense of the millions being poisoned. What China will be left with a poisoned land stripped of talent and capital.



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Lira Plunges To Record Lows As Turkish Minister Addresses G20

Meanwhile, in Turkey...



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