ETC

Negative Rates & The War On Cash, Part 2: "Closing The Escape Routes"

History teaches us that central authorities dislike escape routes, at least for the majority, and are therefore prone to closing them, so that control of a limited money supply can remain in the hands of the very few. The existence of escape routes for capital preservation undermines the viability of the banking system, which is already over-extended, over-leveraged and extremely fragile. In the 1930s, gold was the escape route, so gold was confiscated. This time cash serves that role...

"You Don't Want To Be Riding This Horse When The Time Comes"

"What we shall witness will be the equivalent of watching a well-trained racehorse running down the track and suddenly, each of his legs panics and decides to do something different. The lack of coordination with this sudden development assures one thing only – that Crazylegs is going to go down hard. You won’t want to be riding this horse when the time comes; you’ll want to already be out of the racing business."

Our Impoverished, Pathological Society

Our inner impoverishment has blinded us to our social impoverishment. In terms of authentic opportunities to contribute and belong, we are poor indeed...

Pension Cuts On Deck In Latest Shock To California Workers

In a small victory for California taxpayers, a court has upheld the right of Marin County to adjust pension payments to employees who utilize a technique known as "salary spiking" to boost their annual pension payments in retirement.

Morgan Stanley Throws In The Bearish Towel, Sees S&P At 2,300 On A 19x "Bull Case" PE Multiple

"We are raising our 12-month price targets for the S&P 500 – base case from 2200 to 2300, bear case from 1600 to 1800, and our bull case from 2400 to 2500... For the bull case, we are leaving our EPS essentially unchanged, moving the out year from $137.1 down to $136.5, but raising our bull case multiple from 18x to 19x, yielding our new 2500 bull case forecast."

Three Big Lies That Pervade America's 'News' Media

The Big Lies that pervade the U.S. ‘news’ media are the ones that are essential to sustain in order for the deceived American public to accept the fraudulent basis upon which the U.S. regime of Barack Obama has ‘justified’ his economic sanctions against Russia, and his pouring of U.S. troops and weapons onto and near Russia’s borders...

Negative Rates & The War On Cash, Part 1: "There Is Nowhere To Go But Down"

As momentum builds in the developing deflationary spiral, we are seeing increasingly desperate measures to keep the global credit ponzi scheme from its inevitable conclusion. Credit bubbles are dynamic - they must grow continually or implode - hence they require ever more money to be lent into existence. As the peak of a credit bubble is reached, all these necessary factors first become problematic and then cease to be available at all. Past a certain point, there are hard limits to financial expansions, and the global economy is set to hit one imminently.

The Chinese Are Buying Gold, Selling Treasuries - Should You?

Since July of 2011, two of the largest and most important asset classes in the world, US Treasury debt and gold valuations, have been moving in contradiction to supply and demand data.  US Treasury rates have fallen by a third since the vast majority of previous buyers since have ceased accumulating... and gold has fallen about 25% on increasing physical demand.  These are simply not the hallmarks of a free market.  However, the only thing investors should be more afraid of than a free market correction or potential market crash is the absence of free markets...

The Old Europe Versus The New Europe

"Europe’s history is not quite so rosy... everyone here knows that... However, somewhere along the line we confused enlightenment with passivity, self loathing and ignorance. I’d like to thank team Soros, the EU, the IMF et al and the myriad of cultural marxists that infest our schools for that..."