• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Fisher

Tyler Durden's picture

Quantitative Easing And The Corruption Of Corporate America





Since the turn of this century, debt-financed share buybacks have severely tested the character of those charged with growing publicly-traded U.S. firms. Should she ignore the potential for further QE-financed share buybacks to exact more untold economic damage, it would be akin to intentionally corrupting Corporate America. The time, though, has come for these wayward companies’ banker and enabler, the Fed, to hold the line, no matter how difficult the next inevitable test of their character may prove to be. It’s time for the Fed to defend the entire Union and end a civil war that pits a chosen few against the economic freedom of the many.

 
Knave Dave's picture

Zombie Economy Soon to Have its Zombie Epocalypse





This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve tried to push back up to that distant high that means new life several times, but each time the market falls into a pit again to where the market is once again lower than it was a year ago. These are the last gasps of a stock market (and economy) that is struggling to rise again, which it simply cannot do now that QE has been turned off and the oxygen tank of zero interest is being slowly turned down.

 
Tyler Durden's picture

Fed Up With The Fed





Destroying our ability to discover the real cost of assets, credit and risk has not just crippled the markets--it's crippled the entire economy.

 
Tyler Durden's picture

The Endgame





There is a growing fear in financial and monetary circles that there is something deeply wrong with the global economy. Publicly, officials and practitioners alike have become confused by policy failures, and privately, occasionally even downright pessimistic, at a loss to see a statist solution. It is hardly exaggerating to say there is a growing feeling of impending doom. In short, growing evidence of price inflation and stagnant production can be expected to materially increase the risk of a global banking and currency meltdown. The best escape-route is ownership of anything other than purely financial assets and fiat currency deposits. No wonder the price of gold, which is the soundest of moneys, appears to have entered a new bull market.

 
Tyler Durden's picture

June 2003 - The Fed's Brief Moment Of Clarity





We have referred to the June 2003 FOMC meeting many times before and we suspect that we will continue to do so long into the future. It was one of those events that should be marked in history, truly relevant to the future developments that became panic and now sustained economic decay. It’s as if the committee members at that time anticipated their current powerlessness – yet did nothing about it. Their preferred course from that moment until August 2007 was relieved ignorance, as Greenspan admitted at the time, " I don’t think we know enough about how the private financial system works under these conditions [sub-1% rates],  I don’t believe, that we can construct an effective preemption strategy. Well, we can construct a strategy, but I’m fearful that it would not be very useful."

 
Tyler Durden's picture

Saving Is Dumb... Say The Central Bankers





Central bankers have been waging a war against savers. What those central bankers want you to do is either (1) spend money to increase demand, or (2) buy stocks to increase capital. Well, it sure looks like American consumers are not doing the former...

 
Tyler Durden's picture

When Is The Fed "Concerned" And When Isn't It: Find Out With This Handy Chart





"It’s definitely Global Risks the Fed is concerned about, not the S&P..." /sarc

 
Tyler Durden's picture

"If This Goes Well, I'll Use It At Goldman Sachs Next Year" - Obama Mocks Everyone At His Final "Nerd Prom"





In his final address to the White House correspondents dinner also known as "nerd prom", Obama embraced his last chance at a snarky, hyperbolic, comic monologue and used the stage to unleash a series of one-liners at 2016 presidential candidates in both parties, the media and his own career as president.

 
Tyler Durden's picture

Oil Market Hype And Crisis Signal Greater Troubles Ahead





A market entirely supported by rumors and hearsay can rally quickly, but also lose all gains at the drop of a hat. What the Doha debacle represents is a signal that the establishment is incrementally abandoning support for market systems.  This is translating to a loss of faith in central banks and major financial institutions. On top of this, look at the incredible amount of misinformation and misdirection that went into Doha, now completely exposed. The truth is crystal; the MSM lied and obfuscated helping the establishment to drive up oil prices and stocks, all for a mere six to eight weeks of market security.  As soon as these lies were revealed, volatility began to return. If the oil market bubble can implode (as it already has) in such a way due to the striking of fundamentals, then stocks can also be destabilized as well.

 
Tyler Durden's picture

US Economy - Ongoing Distortions





The economy’s capital structure remains imbalanced as a result of the enormous amount of monetary pumping since 2008 (total TMS-2 growth since then: approx. 128%). There is a limit to this though, even if it cannot be quantified. What can be stated though is that the greater the boom, the greater the eventual bust usually is. There are now more and more indications that a decisive inflection point may be quite near.

 
Tyler Durden's picture

Former Fed Advisor Asks "Has The Fed Bankrupted The Nation"





In 1977, the total indebtedness of U.S. government, corporate and household borrowers was $323 billion. By 1985, that figure had grown to $7 trillion. Volcker left the Fed in August of 1987 after handing the reins over to Alan Greenspan. By year’s end 2015, U.S. indebtedness had swelled to $45.2 trillion. Tack on financials, which few do, and it’s $64.5 trillion and unabashedly growing. We are a nation transformed. What has today’s vast store of debt purchased? Certainly not freedom.

 
Tyler Durden's picture

Weekend Reading: The Fourth Turning





“The typical investor has usually gathered a good deal of half-truths, misconceptions, and just plain bunk about successful investing.” With the month of April winding up the seasonally strong time of the year, earnings season just ahead and economic growth weak, the risks to the downside far outweigh “hope” of higher prices.  Or, is “bad news” still the bear market deterrent?

 
Tyler Durden's picture

Lost Faith In Central Banks And The Economic End Game





If the IMF is engineering a financial crisis in Europe in order to gain more power and influence, why wouldn’t the Fed be doing the same for the IMF in America? Just as the international bankers use stimulus and rate policy as tools, so, to, do they use chaos.

 
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