The physical holdings of Chinese gold ETFs have surged five-fold from 7 tonnes at the end of January, to 35 tonnes at end of August. The Huaán Yifu Gold ETF, which was holding 23 tonnes in August, entered the global top 15 list.
Thanks to Democratic Rep. Elijah Cummings thoughtful decision to release an email exchange between former Secretaries of State Colin Powell and Hillary Clinton, we can now confirm that Hillary was well aware of the lack of security and the "real danger" before she made the decision to use a private email server.
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...
"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."
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.
"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."
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...
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.
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...
"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..."