• Gold Money
    05/26/2016 - 14:27
    Here’s a question that might have you pondering: Is gold a commodity? More importantly, are we doing a disservice to the gold industry by calling gold a commodity? These may sound like silly...

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Clinton Campaign Blames Slumping Support On Bernie "Holding Her Back"

"I don't think he realizes the damage he's doing at this point..."


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Iran's Ayatollah: "The US Can't Do A Damn Thing About Our Missile Program"

"The US have engaged in a lot of hue and cry over Iran’s missile capabilities, but they should know that this ballyhoo does not have any influence and they cannot do a damn thing. The US and other powers are extremely sad at this issue and they have no other option; that is why they made huge efforts in order to bring the country’s decision-making and decision-taking centers under their control, but they failed and God willing, they will continue to fail."


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Main Street Suffers As Wall Street Cheers Oil Rig Count Declines

With stocks soaring on the heels of oil's miraculous resurrection, the new normal narrative appears to be that higher oil prices are now "unequivocally good." However, one glance at the following two charts and it's clear Main Street feels anything like ebulient about the state of the oil industry in America...


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Three Weird Consequences Of NIRP

Negative interest rates are all the rage at central banks, a symptom of the deflation that is slowing spreading worldwide. Explicit or not, negative rates have odd and counterintuitive consequences. Imagine the entire banking system trying to stand on its head, and that's kind of how a deflationary, NIRP-driven world will look. Here are three early signs.


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What Rate Hike: Only 4 Regional Feds Support Discount Rate Increase Compared To 9 Back In November

While 4 is more than 2, recall that on November 24, one month before the Fed did hike rates by 25 bps, a whopping 9 regional Fed requested a Discount Rate hike: that took place less than a month before the Fed's first rate hike in nearly a decade. With only four regional Feds on the same page as of this moment, it is very unlikely that June is when the Fed's rate hike will take place, and with July missing a press conference, it remains to be seen just how the Fed can proceeds with the much touted rate hike in the coming 2 months.


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Next Up For Exploding Health Insurance Premiums: New York

When we warned recently that thanks to Obamacare, insurance companies would be unveiling significant price shocks one week before the presidential elections, we knew it was only a matter of time before the 2017 proposals would start to be released and double digit increases would be unveiled to the public. Sure enough, we were proven right when the first two states to release proposals, Oregon and Virginia, showed that insurers were indeed asking for significant double digit increases. Now, another state has made the 2017 proposals public, and the results aren't any better. In New York, health insurers have proposed an average 17.3 percent increase for individuals, and an average 12 percent increase for small groups.


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Is OPEC A U.S. National Security Threat?

Republican Kevin Cramer from North Dakota is cosponsoring a bipartisan bill that will set up a commission to probe whether OPEC has used unfair means to bolster its dominance over the market and propose possible remedies on the grounds that the matter is important from a national security standpoint, reports the Financial Times. Though similar efforts in the past against OPEC have been ineffective, another cosponsor, Republican Trent Franks, is optimistic about the outcome this time around. “If our bill does nothing more than to raise this question on to the agendas of business leaders and policymakers . . . it will have achieved something,” he said.


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Blistering Demand For 2 Year Paper Surprises Bond Watchers Ahead Of Alleged Rate Hike

The last time the US Treasury had a solid 2Y auction the paper was trading very special in repo, suggesting a major short squeeze was inevitable, and that is precisely what happened.  However, there was no explanation why today's just concluded sale of $26 billion in 2 year paper was as blisteringly hot as it was.


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Hacker Who Got Inside Hillary Clinton's Server Said To Cooperate Fully With Ongoing Email Investigation

In the latest twist involving Hilllary Clinton's email saga, Romanian hacker Guccifer is now expected to plead guilty this week, clearing the way for his unfettered cooperation with federal prosecutors, suggesting that all of his heretofore unverified claims about hacking into Hillary's server will be duly investigated. If confirmed, this could open a new chapter in the FBI's criminal probe into Hillary's email use and/or abuse.


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After Denying Bias, Facebook Changes Policies That Produce Anti-Conservative Bias

We didn’t do anything wrong, but we’ll stop doing it.


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French Government Promises To Deal With Unions "Extremely Firmly" As Fuel Shortages Intensify

French police used water cannons and tear gas to break up a picket that was blocking access to a large oil refinery in the southern port area of Marseille, as Prime Minister Manuel Valls told the unions that "enough is enough." Valls went on to say that if labor unions continue to picket and disrupt fuel supplies, that they would be dealt with "extremely firmly."


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Herbalife First Soars Then Dumps After FTC Settlement Report Is Denied

The market may be surging again, but that will hardly comfort Bill Ackman who later today is expected to report later today that his hedge fund remains roughly 20% YTD, or perhaps even worse following news from the NY Post, that his most hated stock ever, Herbalife, has reached "an agreement in principle with the Federal Trade Commission to settle a years-long probe into whether it was a pyramid scheme", as a result of which the stock is soaring.


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Morgan Stanley Notices The Strange Thing Taking Place Off The Singapore Coast

Last Friday we first reported on two surprising developments: one was a record accumulation of crude tankers just off the coast of Singapore in the Straits of Malacca, awaiting higher oil prices to offload their precious cargo; the second was that as a result of previously profitable contango trades now flattening and making storage no longer profitable, oil shippers are now forced to ask for bank loans to fund offshore storage costs. Over the weekend none other than Morgan Stanley noticed precisely these two developments.

 


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European Close Triggers Precious Metals Plunge

Because nothing says 'fiduciary' duty like waiting until Europe closes to dump $850 million notional of gold...


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The War On Cash Is A War On Your Freedom To Opt Out

Cash is a proxy for the freedom to maintain some privacy in an era of Big Brother repression, surveillance and the suppression of dissent. Ultimately, the war on cash is all about increasing control by eliminating privacy and the freedom to abandon the debt-serf rat-race.


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