• GoldCore
    05/25/2015 - 09:19
    China launches international gold fund with over 60 countries as members. The large fund, which expects to raise 100 billion yuan or $16 billion, will develop gold mining projects across the economic...

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Steen Jakobsen Warns, Brace For The Next Recession

The financial world today is now an island on its own – separated from the real economy, as can be seen by the paradox of record high valuation in the stock market coinciding with record low inflation, employment , productivity and no hope. There is asset inflation, but deflation in the real economy. When the world has been this long at the zero-bound, the misallocation, the inability to reform, and a toolbox without new tools creates a mandate for change. "I expect stocks to trade sideways for the balance of 2015 and have now sold all my fixed income, increased my gold exposure, and I’m looking to buy mining companies and overall to increase my exposure to commodities beyond the normal allocation."



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Rand Paul Blocks Extension Of Patriot Act, Future Of Illegal NSA Spying On Americans In Limbo

While an extension of the Patriot Act, that landmark bill which ushered in the America's Big Brother, "turnkey totalitarian state" (previewed here long before Edward Snowden's shocking revelations), is just a matter of time, supporters of the Fourth Amendment scored a brief victory last night when following yet another marathon 10 hour filibuster and refusal to play by the script by Rand Paul, the Senate failed to extend the Patriot Act, leaving the future of America's "war against terrorists" but really against "enemies domestic", i.e., anyone who uses email, has a cell phone or in any other electronic way communicates with others, in limbo.



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Time To Get Real About China

The present Chinese leadership appears to be trying to gain (regain?) more - if not full - control over the country’s economic system, while at the same time (re-)boosting the growth it has lost in recent years. President Xi Jinping, prime minister Li Keqiang and all of their subservient leaders – there are 1000?s of those in a 1.4 million citizens country- apparently think this can be done. We truly doubt it. We don’t think that they ever understood what would happen if they opened up the country to a more free-market, capitalist structure. That doing so would automatically reduce their political power, since a free market, in whatever shape and form, does not rhyme with the kind of control which the Communist Party has been used to for decades, and which the current leaders have grown up taking for granted.



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How China's (Formerly) Richest Man Crashed His Own Fortune When He Tried To Sell A Stock

One year ago, we explained "How The Market Is Like CYNK." Earlier this week, China's richest man found out how right we were, in the hardest way possible



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Bank Of England Accidentally E-mails Top-Secret Brexit Plan To Newspaper

The first rule of “Project Bookend” is that you don’t talk about “Project Bookend.” In retrospect, maybe the first rule should have been “you don’t accidentally e-mail ‘Project Bookend’ to a news agency.”



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It Begins: US May Send "Target Spotters" To Iraq To Counter ISIS "Offensive"

The US is now considering the possibility of sending so-called "spotters" to Iraq, a move ostensibly aimed at making airstrikes against ISIS more effective. Meanwhile, the militant group has claimed responsibility for Friday's suicide bombing in Saudi Arabi that killed 21.



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The US Department Of Commerce Officially Jumps The Shark, Will "Double Seasonally Adjust" GDP Data

It's official: after seeing it work so well for years in China, the US Department of Commerce's Bureau of Economic Statistics has officially replaced all of its excel models with just one function. The following.



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For Today's Investors: Ignorance Is Not Bliss - It Is Oblivion

“Ignorance is not bliss – it is oblivion. Determined ignorance is the hastiest kind of oblivion.” As investors, we have all been warned. Not by the future, but by the past.



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Junk-Rated Chicago Has A Billion Dollar Pension Problem

In downgrading the city, Moody’s said it expected “Chicago's credit challenges will continue, both in the near term and in the long term [as] unfunded liabilities of the Municipal, Laborer, Police, and Fire pension plans grow and exert increasing pressure on the city's operating budget.” That looks to have been an accurate assessment, because as Bloomberg reports, Chicago’s budget gap is set to triple by 2017.



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Guest Post: 10 Images That Suggest America Is Becoming A Lot Like Nazi Germany

At the heart of Nazism was a desire to control everyone and everything, and that is exactly what we are seeing in America today. The history books tell us about how evil and wicked the Nazis were, so why aren’t we more alarmed that the United States is becoming more like Nazi Germany with each passing day?  And even though our politicians are socializing our economy and destroying our constitutional freedoms, the American people keep sending most of them back to Washington time after time.  It is an incredibly sad thing to watch the country that you love slowly die right in front of your eyes.



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"Strongly Dissatisfied" China Warns US "Accident" Is "Highly Likely" In South China Sea

"China said on Friday it was 'strongly dissatisfied' after a U.S. military plane flew over part of the South China Sea near where China is building artificial islands, and called on the United States to stop such action or risk causing an accident."



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Adult FriendFinder Hacked - Federal Employees Allegedly Among 3.5 Million 'Exposed'

More than 3.5 million people’s sexual preferences, fetishes and secrets have been exposed after dating site Adult FriendFinder was hacked.

“I went straight for government employees because they seem the easiest to shame.”



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A Vision of Monetary Hell Troubles Our Sleep...

A vision of Hell troubles our sleep. It is the vision of what the United States will be like when the authorities have obliterated almost three millennia of monetary progress and have their boots on our necks.



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In No State Can A Minimum Wage Worker Afford A One Bedroom Apartment

Earlier this month we learned that in 21 out of the 26 OECD member countries that have a minimum wage, working 40 hours per week at the pay floor would not be sufficient to keep one's family out of poverty. Now, we discover something even more shocking...



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It Is Mathematically Impossible To Pay Off All Of Our Debt

Did you know that if you took every single penny away from everyone in the United States that it still would not be enough to pay off the national debt?  Today, the debt of the federal government exceeds $145,000 per household, and it is getting worse with each passing year. Many believe that if we paid it off a little bit at a time that we could eventually pay it all off, but as you will see below that isn’t going to work either.



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