Archive - Oct 19, 2015

"Now we know why they have been pushing so hard. Maybe they were banking on more suppliers rolling over on the terms. I just worry that this is a slippery slope of them going in this direction."

Most of you will be quite familiar with Peter Schiff. Fewer of you will know much about his father, Irwin Schiff, who was posthumously referred to as the “grandfather of the contemporary tax protest movement” in Forbes. Irwin was treated very poorly by his own country, particularly toward the end of his life when, despite being legally blind and dying of cancer, he was not permitted to die in peace amongst family members.

Taaaaarrrp! Now don't be tarnishing me knob yer lowly Keynesian picaroon...-Pirate Jamie

Presented with no comment...(and no surprise)

History may eventually decide the "New World Order" started on September 28, when Russian President Vladimir Putin and US President Barack Obama had a 90-minute face off at the UN in New York. Irrespective of spin – “productive” according to the White House, “tense” according to a source close to the Kremlin – facts on the ground accumulated almost immediately.

"My expectation is that under President Xi's term, average growth rates are unlikely to exceed three to four percent. And that's not my prediction, that's the upper limit of my prediction."

UPDATE: He's back - GEITHNER: YUAN CAN BE SIGNIFICANT RESERVE CURRENCY IN LONG TERM

As everyone opined on China's 'goldilocks' GDP data all day long, perhaps the biggest news this evening was US Treasury's softer stance towards China's currency 'manipulation', as we noted earlier, saying Yuan is merely "below appropriate medium-term valuation," and sure enough offshore Yuan has strengthened since the report. China's 'official' mouthpiece Xinhua told the people it is "unnecessary to be anxious about China's economic growth." And finally, for the 8th straight day, Chinese margin debt rose today to its highest in over a month. This is the longest stretch of releveraging in 4 months - since the peak of the bubble. "Will they never learn?"

"Instead of processing a net value, the person processed a gross figure. This meant the trade had “too many zeroes”, said one of the people."

And as everyone knows, "too many zeroes", is the technical term for you royally fucked up.

The global elite have never been closer to their goal of a united world.  Thanks to a series of interlocking treaties and international agreements, the governance of this planet is increasingly becoming globalized and centralized, but most people don’t seem alarmed by this at all.  In the past 30 days, we have seen some of the biggest steps toward a one world government, a one world economy and a one world religion that we have ever witnessed, but these events have sparked very little public discussion or debate...

In its attempt to evade the shackles of conventional fixed and variable costs, Rio Tinto has decided to begin eliminating humans from its "workforce" altogether. According to the Chinese state media, Rio Tinto has started using automated, driverless trucks to move iron ore in its Pilbara mines, controlled from an operations center 1,200 kilometers away in Perth. 

"All The Fed has is credibility" and, as Ron Paul expounds, by folding on a 25bps rate hike, it tells you how fragile this system is... built on a foundation of sand." Indeed, if stocks weren't held up, that would be another 'signal' of the fragility... "and that is why they created The Plunge Protection Team." By "manipulating the most important price in markets," Paul concludes, "we are at the climactic end of the 'system' that started in August 1971."

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