"I believe that being shot should be requirement for gun ownership in America. It’s very simple. You need to have gun, like taking selfies with pistols, can’t live with out it? Then take a bullet and you will be granted the right to purchase the firearm of your choice... Gun praisers are just like the people who were in favor of slavery back in the day - the elite, lazy and ignorant"
The weaker US dollar, the probability of near-zero interest rates for the remainder of the year and a seasonal increase in demand is underpinning the positive potential for gold.
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...
It is more evident than ever that the world economy is heading into a deflationary conflagration, but today’s generation of house trained bulls wouldn’t recognize a warning if it slapped them upside their horns. They refused once again last week to exit the casino because they got another signal from Hilsenramp that the Fed is on “hold” until at least next March. Call it Ostrich Economics. But do it quick. Those side-effects are coming to the casino some day real soon.
- Great News: China’s GDP Growth Beats Forecasts as Stimulus Supports Spending (BBG)
- Oh wait, maybe not: China GDP: Deflategate Comes to Beijing (WSJ)
- Actually, definitely not: Shanghai rebar falls to record low after weak China GDP (Reuters)
- But who cares: European Shares Gain on Earnings as Bonds Drop, Metals Decline (BBG)
The key overnight event was the much anticipated, goalseeked and completely fabricated Chinese economic data dump, which was both good and bad depending on who was asked: bad, in that at 6.9% it was below the government's 7.0% target and the lowest since Q1 2009, and thus hinting at "more stimulus" especially since industrial production (5.7%, Exp. 6.0%) and fixed spending also both missed; it was good because it beat expectations of 6.8% by the smallest possible increment, and set the tone for much of Europe's trading session, even if Asia shares ultimately closed largely in the red over skepticism over the authenticity of the GDP results. Worse, and confirming the global economy is now one massive circular reference, China accused the Fed's rate hike plans for slowing down its economy, which is ironic because the Fed accused China's economy for forcing it to delay its rate hike.
Just days after talk of President Obama's gun control executive orders, and following a disappointing showing at the Democrat Debate, Hillary Clinton has jumped back on the populist bandwagon suggesting that, as Fox reports, it is "worth looking into" mandatory gun buy-back programs like ones in Australia. "This validates what the NRA has said all along," said Chris Cox, executive director of The NRA, with Clinton's comments making “very clear” that the underlying goal of gun-control advocates is confiscation.
Until Putin’s speech the world was intimidated by the Washington Bully. Resistance to Washington brought swift retribution. In the Middle East and Africa it brought economic sanctions and military invasions that destroyed entire countries. In France and other US vassal states it brought multi-billion dollar confiscations of bank net worth as the price of not following Washington’s policies toward other countries. Other countries felt powerless in the face of the arrogant hegemonic Unipower, which from time to time replied to noncompliance with threats. President Putin of Russia brought all that to end on September 28. He stood up before the world in the presence of the overflowing hubris of the hegemon and belled the cat.
Audio - There were some very interesting insights and we believe high net worth and institutional investors and indeed all listeners will get useful information with which to protect and grow their wealth.
Bernanke and now Yellen have created an environment just like the Roaring Twenties. What came next wasn't pretty
When China was closed for one week at the end of September, something which helped catalyze the biggest weekly surge in US stocks in years, out of sight meant out of mind, and many (mostly algos) were hoping that China's problems would miraculously just go away. Alas after yesterday's latest trade data disappointment, it was once again China which confirmed that nothing is getting better with its economy in fact quite the contrary, and one quick look at the chart of wholesale, or factory-gate deflation, below shows that China is rapidly collapsing to a level last seen in 2009 because Chinese PPI plunged by 5.9% Y/Y, its 43rd consecutive drop - a swoon which is almost as bad as Caterpillar retail sales data.
Want to create a gun-free America in 5 easy steps? Here’s all there is to it...
On Friday we said that "it is certain that any volume reductions by Glencore will be promptly taken advantage of by Glencore's competitors, because in a global deleveraging and commodity supercycle repricing, he who cooperates while others defect, always loses the game theory."And just as expected, overnight the world's second biggest mining company, Rio Tinto, warned that it will not cut copper production, saying it would be illogical to hold back output and leave space in the market for higher-cost rivals.
With the "adult supervision" of US markets gone today as bond markets are closed for Columbus day, and the USDJPY tractor beam also missing with Japan also offline for Health and Sports day, stocks took their cues from China where speculation was rife that in lieu of cutting RRR, the PBOC has unleashed even more incremental QE by expanding its Collateral Asset Refinancing Program (CAR). Specifically, the central bank said this weekend it will expand a program allowing lenders to use loan assets as collateral for borrowing from the central bank, opening it up to nine more cities from the program's test in Shandong province and Guangdong. The new areas for the program include Beijing and Shanghai. According to some estimates released several trillions in liquidity into the market, and not only sent government bond futures to new highs, but pushed the Shanghai Composite up over 3% overnight.
After surging stronger for 2 weeks, EM FX is starting to lose ground in early Asia trading following Fischer's comments Friday. The biggest losers so far are Turkish Lira, Russian Ruble, and Malaysian Ringgit which has dropped over 1% in early Asia trading - its biggest drop in a month. China expanded its regulatory crackdown to 11 more firms for "illegal stock operations" - i.e. selling - bringing the total to 41 firms. The PBOC Deputy Governor tells anyone who will listen that "China's market correction is nearly over," following the IMF annual meetings - "China's economy is basically stable" - and Chinese stocks are modestly higher in the pre-open (with Dow futures -40pts). Yuan at 2mo highs after strengthening 7 days in a row.