• Gold Standard I...
    07/28/2015 - 04:17
    Greece has no future, so long as it clings to the euro. The dollar won't servce you much better. A drachma will only harm the Greek people. That leaves one other option.

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The End Of The Supercycle? Commodity "Capitulation" Arrives

In a note by BofA's Michael Hartnett, the bank looks at the latest EPFR fund flows and concludes that the wave of commodity "capitulation" revulsion selling has finally arrived.



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Jim Grant On Gold's Liquidation Sale: A "Vexing But Wonderful Opportunity"

"The important thing to recall is why those of us who own it, bought it. What is it about gold that ought to make it appealing – when it seems to be absolutely the thing you don’t want to have." As ValueWalk reports, Grant warned that gold thrives in the face of monetary turmoil, disorder and uncertainty, noting, "I think we have all three of these things."



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The FBI And DOJ Get Involved: Hillary Clinton Sent Confidential Emails From Her Personal Email Account

It's not that Donald Trump needed much help in his juggernaut campaign across the GOP presidential primary with his lead at last check in the double digitts, but moments ago the flamboyant billionaire got an unexpected present from the WSJ which may have just crippled the chances of his biggest democrat competitor as well, Hillary Clinton. WSJ reports that according to an internal government review Hillary Clinton, as former Secretary of State, "sent at least four emails from her personal account containing classified information during her time heading the State Department."And now, at long last, it appears that both the FBI and the DOJ are finally getting involved.



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The Casino-fication Of Markets Is Pervasive & Permanent

Here we now call market deflation by the sobriquet “volatility”, as in “major market indices suffered from volatility today, down almost one-half of one percent”, where a down day is treated as something akin to the common cold, a temporary illness with symptoms that we can shrug off with an aspirin or two. You can’t be in favor of volatility, surely. It’s a bad thing, almost on a par with littering. No, we want good things and good words, like “wealth effect” and “accommodation” and “stability” and “price appreciation”. As President Snow says in reference to The Hunger Games version of a political utility, “may the odds be always in your favor”. Who doesn’t want that?



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Did The Canary In The Credit Coalmine Just Croak: Capital One Credit Loss Provisions Soar By 60%

The biggest shocker in COF's earnings release was something found between COF's top and bottom line: a surge in provisions for credit losses: at $1.1 billion this was a jump of 21% from Q1 and up a whopping 60% from the year prior. It was also the biggest credit loss provision the credit card company has taken since Q2 2012.



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It Cost The Koch Brothers Only $299,000 To Block Labeling Of Genetically Modified Foods

Here is another example why the stock market with its annual return of 7% is for chumps. If you want to make the kinds of quadruple digit returns on investment, you better buy yourself a congressman. As for the general American population, well: your food may be every so slightly more mutated, but the good news is that it will remain as cheap and unhealthy as always.



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Attention America's Suburbs: You Have Just Been Annexed

It’s difficult to say what’s more striking about President Obama’s Affirmatively Furthering Fair Housing (AFFH) regulation: its breathtaking radicalism, the refusal of the press to cover it, or its potential political ramifications. The danger AFFH poses to Democrats explains why the press barely mentions it. This lack of curiosity, in turn, explains why the revolutionary nature of the rule has not been properly understood. It will take time for the truth to emerge. Just by issuing AFFH, the Obama administration has effectively annexed America’s suburbs to its cities. The old American practice of local self-rule is gone. We’ve switched over to a federally controlled regionalist system. Now it’s strictly a question of how obvious Obama and the Democrats want to make this change — and when they intend to bring the hammer down.



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Howard Marks Interviewed: "There’s No Free Market Today"

"If investors want complete safety, they can't get much income, and if they aim for high income, they can't completely avoid risk. It’s much more challenging today with rates being suppressed by governments. This is one of the negative consequences of centrally administered economic decisions. People talk about the wisdom of the free market – of the invisible hand – but there’s no free market in money today. Interest rates are not natural."



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Fed "Accidentally" Released Dovish Confidential Market-Moving Forecasts, Blames "Glitch"

First The 'unaudited' Fed leaks its FOMC minutes. Then they leak 'inside-information' to Nikkei's latest addition, Medley Global advisors (and remain "above the law" with regard consequences. And now, The Fed admits it leaked full blown confidential economic projections (due to a code glitch), whose summary assessment is shown below as per the leaked file.



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What's Really Killing Capitalism

Zombies and cronies stifle the process of growth and wealth creation. New knowledge – accumulated by others – is threatening. It is what causes disruption. And what economist Joseph Schumpeter called “creative destruction.” Cronies fear this new knowledge and try to block it from ever happening – with subsidies, licensing requirements, and other regulatory impediments. It is this obstructionism is a bigger threat to prosperity than debt.



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Iran - Before & After The Nuclear 'Deal'

Presented with no comment...



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Another VA Scandal: GI Bill Funnels Taxpayer Money To Masturbation Classes, "Hate Churches" & More

If you feel you’ve had enough Department of Veteran’s Affairs (VA) related scandals for one lifetime, you’ve come to the wrong place...

“We want to get people out of their ruts. Have you been masturbating the same way for 20 years?” the instructor asked rhetorically. “How’s that going for you? Would you like to try something new?”



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Syriza "Rebels" Planned To Ransack Greek Mint, Seize Cash Reserves, Arrest Central Bank Governor

Syriza hardliner Panayotis Lafazanis and "a diverse group of far left activists from supporters of the late Venezuelan president Hugo Chávez to old-fashioned communists," planned to take over the Greek mint, commandeer the country’s reserves, and arrest Yannis Stournaras, the governor of the Bank of Greece, FT says, describing a secret plot hatched at an Athens hotel last Wednesday.



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5 Things To Ponder: Shades Of Risk

"It wan't raining when Noah built the ark."



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