M1

Don’t Sweat The Election. The Next Crisis Is Already Baked Into The Cake

From here on out politics are only relevant at the extremes - major war, corruption scandal, martial law etc. Short of that, the fiat currency/fractional reserve banking world has such institutional momentum that it really won’t matter whether Trump is picking on bankers and building his wall or Clinton is protecting Wall Street and raising taxes. Debt will keep soaring as it has under every president since Reagan and jobs will disappear as machines replace people, thus bringing the end of the current system inexorably closer.

"Fiat Money Quantity" & $11,000 Gold

If gold (priced in dollars today) bore the same relationship to the quantity of dollars in existence some eighty years ago, the price range in today’s dollars would be between $4,000 and $11,640...

China Injects Economy With A Quarter Trillion In Debt In One Month, But The Full Story Is Much Scarier

"From a growth rate perspective, the speed of credit expansion is alarming. The current pace of credit growth in China is realistically in a range between 19% and 20%, well above the reported official TSF growth of 12.4% and new loan growth of 13.0% in September. Relative to GDP, China’s credit-to-GDP ratio currently in a range from 260% to 275% of GDP as of September 2016" - Barclays

Senate Approves Sale Of $1.15 Billion In Weapons To Saudi Arabia

The Senate backed a $1.15 billion arms sale to Saudi Arabia, even as Congress is preparing to override an expected presidential veto of a different bill allowing 9/11 victims’ families to sue the Saudi government. The Senate voted 71-27 to table, or kill, the resolution from Sens. Rand Paul (R-Ky.) and Chris Murphy (D-Conn.) that would have blocked the $1.15 billion sale of Abrams tanks to Saudi Arabia, which the State Department approved last month

Europe Has Two Options: Revolution Or Elections

European leaders have responded to new challenges in this post-war era with old solutions. Chief among them is the forced integration of Europe into a single political and economic construct. There are two options when an “unelected mafia” has seized control: elections and revolution. The Brits opted for an election. What if Italy, Portugal, and/or the Netherlands do the same, with the same outcome?

Panic? China Is Hoarding Cash At The Fastest Pace Since Lehman

The last few months have seen trillions of dollars of fresh credit puked into existence in China to enable goal-seeked growth numbers to creep lower (as opposed to utterly collapse). The problem is... the Chinese are hoarding that cash at the fastest pace since Lehman as liquidity concerns flood through the nation.

Futures Rise, Global Stocks Flat After Ugly Chinese Economic Data

One day after all three US indexes hit record highs for the first time since December 31, 1999, US equity index futures, European stocks and Asian equities are little changed after the Nikkei jumped on the back of a Yen weakness, while China reported disappointing economic data and the PBOC suggested that the flood of new debt is slowing which pushed Chinese stocks higher by 1.6% on hopes of more stimulus.

D-Day For Australia's Real Estate Bubble?

This rotting shack in Sydney and its tiny plot of land sold for nearly $1 million in May of 2014 – more than two years ago. Since then, house prices in Australia have increased even further. Yes, it is an insane bubble, no doubt about it... and now, it appears, the banks are finally realizing, and are pulling back.

Why A "Dollar" Should Only Be A Name For A Unit Of Gold

"A general acceptance of the principles of the flexible standard must therefore result in a race between the nations to outbid one another. At the end of this competition is the complete destruction of all nations’ monetary systems."

Global Stock Rally Halted In Aftermath Of Latest French Terror Attack

The tremendous rally of the past 4 days that has sent global stocks soaring in recent days has finally been capped and European shares, S&P futures are all modestly lower following a deadly terror attack in Nice, France. Meanwhile Asian stocks rose as Chinese economic data beat estimates, with Q2 GDP rising by 0.1% more than the estimated 6.6% on the back of stronger housing data.