• GoldCore
    08/04/2015 - 06:08
    The headlines are dramatic, ugly and depressing to anyone who holds gold right now. Broad market sentiment has shifted from disdain and dismissive to highly negative. Hedge funds are shorting gold...
  • Pivotfarm
    08/03/2015 - 15:25
    The quest for perfection is man’s unattainable goal. Man can never be perfect if we are to believe the English philosopher Thomas Hobbes. Man is man’s wolf and all of that.

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Varoufakis: "In 1967 There Were The Tanks And In 2015 There Were The Banks"

"This was nothing but a coup. In 1967 there were the tanks and in 2015 there were the banks. But the result is the same in the sense of having overthrown the Government or having forced it to overthrow itself."



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The Tide Has Turned And These Charts Predict The Next Stop

Be prepared for the now imminent equity valuation reset.  It is true the Fed now has the ability to manipulate the market well beyond anything we’ve ever seen before.  However, it is also still true that when the bursting bubble achieves full momentum the Fed will be helpless to stop it.   While the Fed feels increasingly omnipotent they will once again learn, that while natural laws can be bent, they cannot be broken.



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Venezuela Increasingly Looks Like A War Zone

While mocking socialist paradises everywhere is a recurring theme especially once they have completely run out of other people's money to burn through, what always follows next is far less amusing - complete social collapse, with riots, civil war and deaths not far behind. That is precisely what the video shown below has captured. In the clip, a demonstration against Venezuela's poor transportation services quickly turned violent. End result: one person dead from a gunshot wound, more than 80 arrested and four shops looted on the Manuel Piar Avenue in San Felix.



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American (Predatory) Capitalism Explained In 130 Seconds

Now, more than ever, with Greece and Ukraine front and center, understanding how corporations take control of countries, and how capitalism drives the expansion of the Military Industrial Complex is crucial: "we have created a mutant form of predatory capitalism which has created an extremely unstable, unsustainable, unjust and very very dangerous world."



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Chinese Company Replaces Humans With Robots, Production Skyrockets, Mistakes Disappear

"The robots have produced almost three times as many pieces as were produced before. According to the People's Daily, production per person has increased from 8,000 pieces to 21,000 pieces. That's a 162.5% increase."



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Bubble Finance And A Tale Of Two Spheres

We have argued that it is a perilous myth that central bankers these days control a general price level. They instead incentivize massive financial flows into securities markets and fashionable sectors. Over time, ramifications and consequences reach the profound. For one, excess liquidity promotes over/mal-investment. It’s only the scope and nature that remain in question. If major Bubble flows inundate new technology investment, the resulting surge in the supply of high-margin products engenders disinflationary pressures elsewhere. Policy responses to perceived heightened “deflation” risks then only work to exacerbate Bubbles, mounting imbalances and structural fragilities. This was a critical facet of “Roaring Twenties” analysis that was lost in time.



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Welcome To Planet Obama

"Opposite"-land...



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This Coal Mine Valued At $630 Million In 2011 Just Sold For One Dollar

To get a sense of the complete devastation in the world of commodities, consider the curious case of Australia's Isaac Plans coking coal mine, which was valued at $630 million in 2011. It sold on Thursday for $1.  it gets worse: based on data from Citi Research, 90% of all M&A that miners did since 2007 has been written off. The commodity bubble has officially burst - feel free to thank China.



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Gold And The Grave Dancers

Back in the 1960s, Alan Greenspan wrote a well-known essay that to this day is an essential read for anyone who wants to understand the present-day monetary and economic system (which is a kind of “fascism lite” type of statism, masquerading as capitalism) and especially the almost visceral hate etatistes harbor toward gold. Greenspan’s essay is entitled “Gold and Economic Freedom”, and as the title already suggests, the two are intimately connected.



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The Cyber Wars Begin: Obama Says US "Must Retaliate" Against China For Historic Data Breach

The US has determined that the Chinese cyber attack on the databases of the Office of Personnel Management "was so vast in scope and ambition that the usual practices for dealing with traditional espionage cases [does] not apply," The New York Times reports. In short: "this agression will not stand, man."



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11 Red Flags As We Enter The Pivotal Month Of August 2015

Things are unfolding in textbook fashion for another major global financial crisis in the months ahead, and yet most people refuse to see what is happening.  In their blind optimism, they want to believe that things will somehow be different this time.  Well, the coming months will definitely reveal who was right and who was wrong.  The following are 11 red flag events that just happened as we enter the pivotal month of August 2015...



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Did We Just Hit The Threshold For Short Covering In Gold?

Two weeks ago we noted something that has never happened before in gold - hedge funds, according to CFTC, had a net short position for the first in history. The past week saw a very surprising negligible shift of just 11 contracts as the short position shrank to 11,334 contracts. However, the aggregate net long position has dropped to a level that in the past has represented a threshold for signficant short-covering (21% and 17% rallies respectively). So with hedgies as short as they have ever been in history and aggregate positioning at a historically crucial level, one wonders if gold is due for a bounce...



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The Great Greek Fudge

A third Greek bailout involving loans from the European Stability Mechanism (ESM), the eurozone’s bailout scheme, is now being negotiated. The start was quite rocky, with haggling over the precise location in Athens where negotiations need to take place and Greek officials once again withholding information to creditors. Therefore, few still believe that it will be possible to conclude a deal in time for Greece to repay 3.2 billion euro to the ECB on 20 August. Several national Parliaments in the Eurozone would need to approve a final deal, which would necessitate calling their members back from recess around two  weeks before the 20th, so it’s weird that French EU Commissioner Pierre Moscovici still seems so confident that the deadline can be met.



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"Asia Crisis, Tech Bubble Burst, Lehman"... And Today

Note that the classic sign of crisis and capital flight, higher interest rates, falling currency, and falling bank stocks are now visible in Brazil (and elsewhere). Indeed, the correlation between Brazilian bond yields and Brazilian financials/BRL turned sharply negative during each of the past 3 systemic crises (Asia ‘98, Tech ‘02 & Lehman ’08) and is doing so again today.



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