http://www.zerohedge.com/fullrss2.xml/component/option%2Ccom_docman/Itemid%2C200023/gid%2C397/BoomBustBlog/BoomBustBlog/BoomBustBlog/BoomBustBlog/2009/2009/07/2009/2009/2009/07/2009/07/2009/2009/2009/2009/2009/07/2009/2009/2009/07/2009/07/2009/07/2009/07/news/t en The Hundred Billion Dollar Man http://www.zerohedge.com/news/2017-05-29/hundred-billion-dollar-man <p style="margin-top: 0px; line-height: 1.4em; font-family: Roboto, sans-serif; font-size: 15px;"><em style="box-sizing: border-box; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit;"><span style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20.3333px; line-height: 17.3333px; font-family: &quot;Lucida Grande&quot;, Verdana, sans-serif;">Interested in precious metals investing or storage? Contact us</span></em><em style="box-sizing: border-box; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 1.15; font-family: inherit;"><span style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20.3333px; line-height: 17.3333px; font-family: &quot;Lucida Grande&quot;, Verdana, sans-serif;"> </span><span style="color: #000080;"><a href="mailto:sales@sprottmoney.com?subject=From%20Zero%20Hedge: Warren Buffett Article"><strong style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-stretch: inherit; font-size: 20.3333px; line-height: 17.3333px; font-family: &quot;Lucida Grande&quot;, Verdana, sans-serif;"><span style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; text-decoration: underline;"><span style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 1.2; font-family: inherit; overflow-wrap: break-word;">HERE</span></span></strong><strong style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-stretch: inherit; font-size: 20.3333px; line-height: 17.3333px; font-family: &quot;Lucida Grande&quot;, Verdana, sans-serif;"><span style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; text-decoration: underline;"><span style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 1.2; font-family: inherit; overflow-wrap: break-word;">&nbsp;</span></span></strong></a></span></em></p> <p style="margin-top: 0px; line-height: 1.4em; font-family: Roboto, sans-serif; font-size: 15px;">&nbsp;</p> <p><a href="https://www.sprottmoney.com/Blog/the-traitors-abetting-the-deep-states-dirty-dying-war-on-gold-stewart-dougherty.html"><br /></a> </p> <p><a href="https://www.sprottmoney.com/Blog/the-hundred-billion-dollar-man.html"><br /> </a></p> <h1><a href="https://www.sprottmoney.com/Blog/the-hundred-billion-dollar-man.html"><span style="text-decoration: underline; color: #3366ff;"><em><strong>The Hundred Billion Dollar Man - Jeff Nielson</strong></em></span></a></h1> <p><a href="https://www.sprottmoney.com/Blog/the-hundred-billion-dollar-man.html"><span style="text-decoration: underline; color: #3366ff;"><em><strong>Written by Jeff Nielson (CLICK HERE FOR ORIGINAL)</strong></em></span></a></p> <p>&nbsp;</p> <p><span style="text-decoration: underline; color: #3366ff;"><em><strong><a href="https://www.sprottmoney.com/Blog/the-hundred-billion-dollar-man.html"><img src="http://www.zerohedge.com/sites/default/files/images/user196978/imageroot/2017/05/29/shutterstock_444483772_710.jpg" width="710" height="473" /></a></strong></em></span></p> <p>&nbsp;</p> <p>&nbsp;</p> <p class="Standard">Regular readers are familiar with Warren Buffett's activities over the past few years. He has been hoarding dollars – lots and lots of dollars. This was first brought to the attention of readers in <a href="http://www.bullionbullscanada.com/index.php/commentary/us-commentary/26548-buffett-sits-on-50-billion-cash-hoard-waiting-for-bubbles-to-pop">August 2014</a>. At that time, Buffett was already hoarding $50 billion. </p> <p class="Standard">&nbsp;</p> <p class="Standard">With U.S. markets already at bubble levels and the rapidly decaying U.S. economy already showing signs of serious strain, the speculation in that initial article was that Buffett was looking forward to an imminent collapse in U.S. markets – and a feeding frenzy with his mountain of vampire dollars. After all, Buffett was already 83 years old, and his hoard of dollars was already the largest of his entire career. </p> <p class="Standard">&nbsp;</p> <p class="Standard">Who knew back then that the bankers would and could continue to pump U.S. markets higher for another three years? Who knew that Warren Buffett would still be alive to see it? Who knew that over the last three years that Buffett's hoard of vampire dollars would <strong>swell to $100 billion in size</strong>? </p> <p class="Standard">&nbsp;</p> <p class="Standard">How and why could a “long term value investor” like Warren Buffett ever end up with $100 billion investment dollars sitting on the sideline? In a <a href="http://business.financialpost.com/investing/global-investor/the-hundred-billion-dollar-question-buffett-confronts-search-for-next-big-thing-after-missed-chances">recent article</a> from the Financial Post, Buffett shows that even at age 86 he can tap dance with the best. </p> <p class="Standard">&nbsp;</p> <p class="Textbody" style="margin-left: .5in;"><em>The Berkshire chief executive officer spoke at length Saturday about his failure to pounce on opportunities in tech stocks, the challenge of lining up large deals, and his frustration with a cash pile that’s approaching US$100 billion.<br /> </em></p> <p class="Textbody" style="margin-left: .5in;"><em><br /></em></p> <p class="Textbody" style="margin-left: .5in;"><em>“We shouldn’t use your money that way for long periods,” Buffett said of the cash during his meeting in Omaha, Nebraska. “The question is, ‘Are we going to be able to deploy it?’ I would say that history is on our side, but it’d be more fun if the phone would ring.”<br /> </em></p> <p class="Textbody" style="margin-left: .5in;"><em><br /></em></p> <p class="Standard">Buffett sounds like some coquettish 16 year-old, hoping to be asked to the high-school prom. Buffett's equity portfolio is valued at $135 billion. With<em> $</em>100 billion in cash, that means more than a 40% cash component, an unprecedented mountain of cash in the history of Berkshire Hathaway. </p> <p class="Standard">&nbsp;</p> <p>If Berkshire Hathaway wanted to invest a few billion dollars in some large corporation, it's not like Buffett and friends would see any doors slammed in their faces. What's the <em>real</em> reason that Buffett isn't doing more buying? The same article sheds some additional light.</p> <p>&nbsp;</p> <p class="Textbody" style="margin-left: .5in;"><em>David Rolfe, who manages about US$6.8 billion including Berkshire shares at Wedgewood Partners, said he wasn’t surprised that Buffett is bummed out by the growing cash pile. <strong>Stock markets have been rising for years, making it harder to find attractive investments</strong>.</em></p> <p class="Textbody" style="margin-left: .5in;"><em><br /></em></p> <p class="Textbody" style="margin-left: .5in;"><em>“A run-of-the-mill bear market could certainly solve the cash problem” by offering opportunities for Buffett, Rolfe said. </em>[emphasis mine]</p> <p class="Textbody" style="margin-left: .5in;">&nbsp;</p> <p class="Standard">It's not that Warren Buffett can't find any companies in which he would like to deploy some of Berkshire Hathaway's (and his own) vampire dollars. It's that Buffett doesn't want to <strong>pay bubble prices</strong> for these equities.</p> <p class="Standard">&nbsp;</p> <p class="Standard">When you're 83 years old, you don't have long to wait. Apparently, however, the opportunity which Buffett's banker friends promised him was worth waiting for – for at least three more years. The problem is that no “run-of-the-mill bear market” can provide the Oracle of Omaha with enough stellar opportunities to deploy a mountain of cash this large, not in the time Buffett has remaining.</p> <p class="Standard">&nbsp;</p> <p class="Standard">Buffett has named no successor. If he was planning on simply stepping aside and allowing someone fresher/younger to deploy the largest mountain of capital in Berkshire Hathaway history, Buffett has given absolutely no hint of this. On the contrary, all of his public representations indicate that he plans on spending these dollars himself.</p> <p class="Standard">&nbsp;</p> <p class="Standard">When?</p> <p class="Standard">&nbsp;</p> <p class="Standard">When readers were originally warned that the Next Crash was approaching (November 2014) and told that the most likely time horizon was the spring of 2016, there were several reasons for presenting that prediction. Among them was the Buffett cash hoard. </p> <p class="Standard">&nbsp;</p> <p class="Standard">That prediction was obviously premature. Bubble valuations in U.S. markets have grown even more absurd. The mindless parrots of the Corporate media call it “the Trump rally”, despite the fact that all Trump has done since getting elected is exactly what any sane observers expected. He has continued to shoot off his mouth erratically and already managed to get himself involved in several scandals. </p> <p class="Standard">&nbsp;</p> <p class="Standard">U.S. markets recently rose again for six consecutive sessions. What was the reason given for the sixth day of rising markets? </p> <p class="Standard">&nbsp;</p> <p class="Standard" style="margin-left: .5in;"><a name="article-text"></a><em>The S&amp;P 500 and Nasdaq Composite opened at record highs on Thursday after minutes of the Federal Reserve's latest meeting showed policymakers expected the economy to pick up momentum and that they would raise interest rates soon</em>. </p> <p class="Standard" style="margin-left: .5in;">&nbsp;</p> <p class="Standard">The U.S. economy is “so strong” that the Federal Reserve is going to raise interest rates (when have we <a href="http://www.bullionbullscanada.com/index.php/commentary/us-commentary/26656-the-girl-who-cried-exit-strategy">heard this</a> before?). Higher interest rates are <em>bad</em> for the economy. Higher interest rates are <em>bad</em> for markets. </p> <p class="Standard">&nbsp;</p> <p class="Standard">Back when these <a href="http://www.bullionbullscanada.com/index.php/commentary/us-commentary/26606-more-evidence-of-the-master-trading-algorithm">manipulated markets</a> were at least being manipulated in a rational manner, the markets would have gone down on such news. Back when the Corporate media at least feigned paying attention to such phenomena, this would have been portrayed as “irrational exuberance”. </p> <p class="Standard">&nbsp;</p> <p class="Standard">Oil prices have generally trended higher over the past year. For more than 30 years; U.S. markets have always gone down when crude oil prices go up. Why? Because higher oil prices are like a tax on the economy, since oil is such an endemic input in modern economies. </p> <p class="Standard">&nbsp;</p> <p class="Standard">This is especially true for the world's premier oil and gas-guzzling economy, the United States. But when oil prices have been going up in recent months, the U.S.'s bubble markets have been going up right along with them. Why? Because higher oil prices are now (supposedly) <a href="https://www.usatoday.com/story/money/business/2016/11/26/economy-oil-prices-goldman-sachs/94431546/">good for the U.S. economy</a>. </p> <p class="Standard">&nbsp;</p> <p><strong>Economy needs higher oil prices: Goldman Sachs</strong></p> <p><strong><br /></strong></p> <p class="Standard">According to the new mythology, the U.S. is “a rising energy superpower”. The energy sector accounts for about 6% of the U.S. economy. So higher oil prices are good for 6% of the U.S. economy, and bad for the other 94%, but the U.S.'s bubble markets go higher anyways – and the mouthpieces of the Corporate media continue yammering their absurd propaganda. </p> <p class="Standard">&nbsp;</p> <p class="Standard">The U.S. is a consumer economy. The U.S. is currently in the midst of the <a href="http://www.zerohedge.com/news/2017-04-03/2017-retail-bankruptcies-soar-great-recession-highs">largest wave</a> of retail sector bankruptcies since right <em>after</em> the Crash of '08. What will happen if the Federal Reserve actually does (finally) start raising interest rates with this train-wreck economy? Ka-boom! </p> <p class="Standard">&nbsp;</p> <p class="Standard">The U.S. retail sector is currently going through the largest wave of bankruptcies in seven years because of <em>several years of weak sales</em> in this consumer economy. The U.S.'s bubble markets have continued to go higher and higher and higher all of this time. </p> <p class="Standard">&nbsp;</p> <p class="Standard"><strong>The disconnect between U.S. market valuations and the actual fundamentals of the U.S. economy is far, far greater than at any other time in history</strong>. Worse than in the Crash of '08. Worse than in the Dot-Com Bubble. Worse than in the Crash of '29. </p> <p class="Standard">&nbsp;</p> <p class="Standard">This is why Warren Buffett is sitting on a $100 billion hoard of vampire dollars. And since Buffett clearly plans on spending those dollars himself, this means that the Mother of All Crashes is coming soon. That's what Buffett's mountain of money is broadcasting to anyone who is paying attention. </p> <p class="Standard">&nbsp;</p> <p class="Standard">The Mother of All Crashes will take down almost all asset classes with it. The one possible exception will be <a href="http://www.bullionbullscanada.com/index.php/commentary/international-commentary/26536-belgium-money-laundering-toilet-for-unwanted-treasuries">ultra-fraudulent Western bond markets</a>, where no legitimate trading has taken place since at least 2008. </p> <p class="Standard">&nbsp;</p> <p class="Standard">Even though these worthless bonds have already been manipulated to record highs, they will likely be pushed even higher when the Crash arrives. This will be to fuel the equally fraudulent narrative that “investors are fleeing to bonds”. </p> <p class="Standard">&nbsp;</p> <p class="Standard">As readers have also been <a href="https://www.sprottmoney.com/Blog/precious-metals-in-2017-jeff-nielson.html">warned</a>, precious metals will almost certainly get caught up in the wake of this Crash (assisted by all the malicious might the One Bank can summon). So why favor precious metals as our Safe Haven, despite knowing the bankers will attack these markets? </p> <p class="Standard">&nbsp;</p> <p class="Standard">Western currencies are <a href="http://www.bullionbullscanada.com/index.php/commentary/gold-commentary/26282-three-reasons-why-the-usd-is-already-worthless">worthless</a>. </p> <p class="Standard">&nbsp;</p> <p class="Standard">Western bonds are worthless, the IOU's of bankrupt nations. </p> <p class="Standard">&nbsp;</p> <p class="Standard">Western equities are at all-time highs. </p> <p class="Standard">&nbsp;</p> <p class="Standard">Western real estate is at an <a href="http://www.bullionbullscanada.com/index.php/commentary/international-commentary/26563-western-real-estate-bubbles-historys-greatest-wealth-trap">all-time high</a>. </p> <p class="Standard">&nbsp;</p> <p class="Standard"><a href="https://www.sprottmoney.com/Blog/precious-metals-fundamentals-the-numbers-dont-lie-part-ii-jeff-nielson.html">Gold and silver</a> are <em>already</em> at extremely depressed valuations. Beyond this, gold and silver have a 4,000 year track record as a bellwether asset class. </p> <p class="Standard">&nbsp;</p> <p class="Standard">It was because of these factors that gold and silver (and gold and silver mining stocks) rallied far harder and far faster than any other asset classes following the Crash of '08. They will do so again. </p> <p class="Standard">&nbsp;</p> <p>The Dow just hit 21,000. The NASDAQ just hit 6,000. The Buffett cash hoard has just hit $100 billion. The only way things could get any more obvious would be to see the vultures already circling in the air. </p> <p>&nbsp;</p> <p>&nbsp;</p> <p><em style="box-sizing: border-box; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit;"><span style="box-sizing: border-box; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20.3333px; line-height: 17.3333px; font-family: &quot;Lucida Grande&quot;, Verdana, sans-serif;">Questions or comments about this article? Leave your thoughts <a href="https://www.sprottmoney.com/Blog/the-hundred-billion-dollar-man.html"><span style="text-decoration: underline;"><strong>HERE</strong></span></a>.</span></em></p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <h1><a href="https://www.sprottmoney.com/Blog/the-hundred-billion-dollar-man.html"><span style="text-decoration: underline; color: #3366ff;"><em><strong>The Hundred Billion Dollar Man - Jeff Nielson</strong></em></span></a></h1> <p><a href="https://www.sprottmoney.com/Blog/the-hundred-billion-dollar-man.html"><span style="text-decoration: underline; color: #3366ff;"><em><strong>Written by Jeff Nielson (CLICK HERE FOR ORIGINAL)</strong></em></span></a></p> http://www.zerohedge.com/news/2017-05-29/hundred-billion-dollar-man#comments Bear Market Berkshire Hathaway Berkshire Hathaway Bond Buffett Buffett Foundation Business Crude Crude Oil Dot-com bubble Economy Federal Reserve Feeding Frenzy: Jimmy Buffett Live! Finance goldman sachs Goldman Sachs Goldman Sachs Jimmy Buffett Money NASDAQ NASDAQ Composite Precious Metals Real estate S&P 500 US Federal Reserve Value investing Warren Buffett Warren Buffett Mon, 29 May 2017 17:03:23 +0000 Sprott Money 596897 at http://www.zerohedge.com Turkey Bans Short-Selling, Online-Trading As Nation's Best-Performing Stock Crashes http://www.zerohedge.com/news/2017-05-29/turkey-bans-short-selling-online-trading-nations-best-performing-stock <p>After<strong> soaring over 100% in the last 3 weeks,</strong> Sasa Polyster Sanayi - Turkey&#39;s best-performing stock of the year - <strong>crashed 19% at the open</strong> after regulators admitted investigations into <strong>potentially fraudulent transactions.</strong></p> <p>The <strong>regulator&nbsp;cited&nbsp;trading irregularities between March 24 and May 23, </strong>when the stock more than doubled to become the top performer on the Borsa Istanbul 100 Index.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/28/20170529_sasa.jpg"><img height="316" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/28/20170529_sasa_0.jpg" width="600" /></a></p> <p>The regulator said it&rsquo;s investigating potentially fraudulent transactions that <strong>may have been aimed at creating artificial trading activity</strong>. That sent shares in Sasa Polyester Sanayi AS crashing by as much as 19%, the most in more than 16 years.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/28/20170529_sasa1.jpg"><img height="312" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/28/20170529_sasa1_0.jpg" width="600" /></a></p> <p>Of course the solution when any market starts to drop - <strong>Turkey&rsquo;s market regulator imposed a temporary ban on short-selling and online trading. </strong></p> <p>So - roughly translated - we know fraudulent behavior ramped this thing to the moon but we are not going to allow you poor Turkish investors to sell, because that would be dangerous... <strong><em>we are just protecting you from your irrational self.</em></strong></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="960" height="506" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170529_sasa.jpg?1496063348" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-29/turkey-bans-short-selling-online-trading-nations-best-performing-stock#comments Business Financial markets Istanbul 100 Turkey Mon, 29 May 2017 17:00:06 +0000 Tyler Durden 596874 at http://www.zerohedge.com Inside The So-Called 'Resistance' http://www.zerohedge.com/news/2017-05-29/inside-so-called-resistance <p><a href="http://kunstler.com/clusterfuck-nation/the-so-called-resistance/"><em>Authored by Howard Kunstler via Kunstler.com,</em></a></p> <p><strong>Entropy never sleeps.</strong> It works remorselessly to transform things of value into useless, dissipated waste and heat. Complexity stokes it especially as the law of diminishing returns multiplies the wheels of futility spinning down to zero. <strong>Hence, the intellectual decay of American life in which spin is everything, anything goes, and nothing matters.</strong></p> <p><u><strong>The latest manifestation of this dynamic is the curious movement that styles itself <em>The Resistance</em>, </strong></u>lately adopted by the grotesque handmaiden of the Deep State that the Democratic Party became in the regency of Hillary Clinton. <strong><em>Its mission is to undo the results of the last national election by claiming that Russia undid it. It pretends to seek the restoration of something &mdash; but what? Of dissipated power relations within the Deep State itself?</em></strong></p> <p>President Trump is actually taking care of that by turning government management over to <em>his</em> generals and the minions of Goldman Sachs. The generals are reinvesting in the strategic black hole of our military adventures overseas. The Goldman Sachs appointees are making Wall Street safe for the continued asset-stripping of the USA. The last time I checked, Hillary&rsquo;s gang did not oppose either of these endeavors.</p> <p><strong>The Resistance employs cadres of useful idiots</strong> &mdash; Black Lives Matter, &ldquo;undocumented&rdquo; visitors, &ldquo;Antifa,&rdquo; the LGBTQ &ldquo;community&rdquo; &mdash; <strong>to pretend that it stands for social justice, but these are just straw persons fronting a gang devoted only to regaining the levers of &ldquo;privilege&rdquo; &mdash; which they also pretend to be against.</strong> The Resistance takes its name from the movement in World War Two France that fought the Nazi occupation, thus self-valorizing itself. But the pre-owned styling is just another victory of spin in the public relations nightmare that American political life has become.</p> <p><u><strong>It also begs the question: what would a real resistance look like?</strong></u> First, it would oppose the aforementioned asset-stripping that the US economy has become, the transfer of capital in all its forms &mdash; monetary, political, cultural, social &mdash; from the dis-employed former middle classes to the tiny, select beneficiaries of financial manipulation. Note that the things being manipulated &mdash; markets, currencies, securities, and interest rates &mdash; are increasingly phantom entities that appear to maintain their value only because the high priests of financial authority say that they do.</p> <p><strong>The shelf-life of that flim-flam approaches its endgame as it self-evidently immiserates the masses and their sheer faith in its recondite promises dwindles away to nothing.</strong> A genuine resistance would begin to deconstruct this clerisy and its institutions, namely Too Big To Fail banks and the Federal Reserve. The best opportunity to accomplish that would have been the early months of Mr. Obama&rsquo;s turn in the White House, the dark time of the previous financial crash when the damage was fresh and obvious.</p> <p>But the former president blew that under the influence of high priests Robert Rubin and Larry Summers. And the lower order clerics were allowed run their hoodoo machine flat out in the following eight years. Just look at the long chart of the Standard &amp; Poors index. <strong><em>Tragically, this ever-upward arc is now taken to be the normal state of things, and when it fails the implosion will be orders of magnitude more violent than the last time.</em></strong></p> <p>One would think that a genuine resistance would also oppose the growing consolidation of power in the now-colossal spying apparatus of the nation &mdash; the often averred to &ldquo;seventeen intel agencies&rdquo; that show signs of being actively at war against other parts of the government and against citizens themselves. Hence, the non-stop murmur of allegation about &ldquo;Russian interference in the election,&rdquo; going back to the summer of 2016 without either any real evidence, or any clarification of what is actually alleged to have happened.</p> <p><strong>Another tragic turn is that this fifth column of rogue intel agencies has recruited the major organs of the news to incessantly repeat its allegations until the public accepts the story as established fact rather than just the manufactured story it so far appears to be. </strong>Well, the lives of persons and societies founder on versions of the &ldquo;reality&rdquo; they fabricate for their own purposes. A genuine resistance would show foremost some fidelity to a reality beyond the spin-factories of self-delusion. And it would lead in the hard work of shedding this over-burden of self-multiplying despotisms.</p> <p><u><em><strong>Maybe this Memorial Day is a good moment to question the claims of the so-called resistance, and perhaps patriotically meditate on what the nature of an authentic resistance would be to the ongoing decay of this nation while it is still possible.</strong></em></u></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="309" height="152" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170529_resist.jpg?1496074703" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-29/inside-so-called-resistance#comments Asset stripping Democratic Party Economy of New York City Electrical resistance and conductance Fail Federal Reserve Fiction France French Resistance Gaming goldman sachs Goldman Sachs Goldman Sachs Larry Summers Politics Reality Resistance Resistance: Fall of Man Robert Rubin Rockefeller Center Subprime mortgage crisis Too Big To Fail US Federal Reserve White House White House Mon, 29 May 2017 16:30:24 +0000 Tyler Durden 596893 at http://www.zerohedge.com A Problem Emerges With Europe's "Recovery": Companies Crippled By Soaring Payment Delays http://www.zerohedge.com/news/2017-05-29/problem-emerges-europes-recovery-companies-crippled-soaring-payment-delays <p>With Mario Draghi <a href="http://www.zerohedge.com/news/2017-05-29/watch-live-draghi-speaks-euro-parliament-makes-case-more-easing">praising the European economy </a>in his quarterly speech at the European Parliament, albeit conceding that inflation is still too low for the ECB to remove its unprecedented monetary support, one would be left with the impression of a slow, steady European recovery, also explaining the recent record inflow into European stocks. Alas, as is often the case, the full story is just below the surface. And it is here that a big problem is emerging.</p> <p>According to the 2017 European Payment Report compiled annually by Swedish debt collector Intrum Justitia AB, a growing number of small and medium-sized businesses in Europe have complained they face excessive delays in being paid for their work, with large parts of the sector seeking tougher laws to address the problem. First discussed by <a href="https://www.bloomberg.com/news/articles/2017-05-28/payment-delays-soar-as-eu-s-small-businesses-offer-reality-check">Bloomberg</a>, <strong>the Justitia report reveals that 61% of the 10,468 small and medium-sized companies surveyed say they’ve been asked by counterparties to accept longer payment delays than they feel comfortable with. This is a staggering increase of over 30% in just one year: in 2016, that figure was 46%.&nbsp;</strong></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/late%20payments%20europe.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/late%20payments%20europe_0.jpg" width="500" height="285" /></a></p> <p>The surge is non-payments is perplexing as it takes place at a time when Europe is said to be actively recovering, with GDP rising, unemployment sliding, PMI surveys at or near post-crisis highs, and confidence&nbsp; at near record levels.&nbsp; The development is also “a growing concern” according to Intrum Justitia’s Chief Executive Officer Mikael Ericson, who told Bloomberg “<strong>this clearly significantly affects both growth and investments in European companies.</strong>”</p> <p>Even more surprising, in 2011 the EU adopted the "Late Payment Directive" and said Europe’s whole economy is “negatively affected by late payment” and that “for Europe’s valued SMEs, any disruption to cash flow can mean the difference between solvency and bankruptcy.” </p> <p>As such, the survey suggests that - among other things - Europe isn’t living up to its goal of protecting smaller companies from the liquidity issues they face when payment doesn’t arrive. It also suggests that there has been a sharp decline in liquidity within the supply chain, usually a harbinger of recessionary economic conditions, and hardly the environment in which a central bank sees "recovery." Quit the opposite.</p> <p>As Bloomberg adds, a large number of firms surveyed said they want tougher payment rules to combat what Intrum Justitia describes as a “deteriorating payment culture.” Some 40% of businesses would welcome new legislation while about 30% want new voluntary-based codes of conduct.</p> <p>Going back to the Late Payment Directive, it explicitly advises enterprises to pay their invoices within 60 days “unless they expressly agree otherwise and provided it is not grossly unfair.” Public authorities have to pay for the goods and services they procure within 30 days (or in very exceptional circumstances, 60 days). But the public sector, especially in Greece, stands out for particularly slow payment of its bills.&nbsp; The European public sector’s average payment time rose to 41 days in the 2017 survey, from 36 last year. <strong>In Greece, the average payment time for public authorities is 103 days while in Italy and Portugal, it’s 98 days. </strong>Ericson says those numbers “should be troubling news to European governments, as their own authorities hinder efforts to stimulate growth and job creation.”</p> <p>But the most troubling finding of the survey is that low interest rates - the only policy crutch that has been somewhat effective in Europe in recent years, even if it meant the ECB's balance sheet is now the largest in the world - have lost their effectiveness, and <strong>only 13% of firms surveyed said low borrowing costs have led to an increase in their investments, with 81% reporting no change</strong>.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/1200x-1%20%2810%29.png"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/05/12/1200x-1%20%2810%29_0.png" width="500" height="253" /></a></p> <p>Justitia’s CEO Ericson concludes that with 4 of 5 companies saying low rates aren’t encouraging more investment, <strong>"it’s now all about cash flows</strong>" and that “ensuring stable cash flows early on” is now “more important” than investing in growth. </p> <p>There are two major concerns emerging from the survey findings: first, as Ericson's data suggest, the flow of cash within Europe's businesses is rapidly declining, leading to surging receivables and non-payments. Second, while low rates may no longer stimulate businesses, it is certain that rising rates will adversely impact them and further exacerbate this troubling trend, which unless remedied immediately may culminate with mass corporate defaults. Finally, small and medium businesses are the bedrock of any stable "developed" economy. If Europe's SMEs are signaling a cash flow alarm, how is it possible to claim a European recovery is taking place?</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="1200" height="683" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/late%20payments%20europe.jpg?1496073809" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-29/problem-emerges-europes-recovery-companies-crippled-soaring-payment-delays#comments Bank Banking Borrowing Costs Business Cash flow Corporate finance Counterparties Economy European Central Bank European Parliament European Union European Union Finance Greece Italy Late Payment Directive Money Portugal recovery Unemployment Mon, 29 May 2017 16:03:31 +0000 Tyler Durden 596889 at http://www.zerohedge.com Tiger Woods Arrested For DUI http://www.zerohedge.com/news/2017-05-29/tiger-woods-arrested-dui <div> <div id=":204.co"> <p id=":209.ma"><span dir="ltr" id=":209.co"><strong>Everyone has their own of celebrating the memory of the fallen.</strong> For Tiger Woods it involves getting hammered and driving drunk inside one of Florida&#39;s most upscale communities</span>...</p> <p><iframe width="560" height="315" src="http://assets.scrippsdigital.com/cms/videoIframe.html?&amp;host=www.wptv.com&amp;title=Golfer%20Tiger%20Woods%20arrested%20on%20DUI%20charges%20in%20Jupiter&amp;vid=592c3d8c8dd15d3706a94a0b&amp;purl=/news/region-n-palm-beach-county/jupiter/golfer-tiger-woods-arrested-on-dui-charges-in-jupiter&amp;story=1&amp;ex=1&amp;s=wptv" frameborder="0" allowfullscreen></iframe></p> <p>Eight years after crashing his car <em>(with a golf club through the back window)</em>, Golfer Tiger Woods has been <strong>arrested on charges of driving under the influence early Monday morning in Jupiter, Florida</strong> (near his residence).</p> <p><a href="http://www.wptv.com/news/region-n-palm-beach-county/jupiter/golfer-tiger-woods-arrested-on-dui-charges-in-jupiter"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/28/20170529_tiger.jpg" style="width: 601px; height: 436px;" /></a></p> <p><a href="http://www.wptv.com/news/region-n-palm-beach-county/jupiter/golfer-tiger-woods-arrested-on-dui-charges-in-jupiter"><em>As WPTV reports,</em></a> Woods, a Jupiter Island resident, was <strong>taken into custody at 3 a.m. on Military Trail South of Indian Creek Parkway</strong>. Palm Beach County Jail records indicate Woods was<strong> released from custody at 10:50 a.m.</strong> As his mugshot below shows, he has looked better...</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/28/20170529_mug.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/28/20170529_mug.jpg" style="width: 368px; height: 458px;" /></a></p> </div> </div> <p>It appears it&#39;s time for Woods to swap one driver for another...</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="368" height="245" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170529_mug1.jpg?1496072637" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-29/tiger-woods-arrested-dui#comments Drive Florida Geography of Florida Golf Jupiter Jupiter Island Jupiter, Florida Palm Beach County, Florida Tiger Woods Woods WPTV-TV Mon, 29 May 2017 15:45:06 +0000 Tyler Durden 596886 at http://www.zerohedge.com Update: Gold Ready to Rocket? Yen and Cable Say Yes http://www.zerohedge.com/news/2017-05-29/update-gold-ready-rocket-yen-and-cable-say-yes <h2>The Trend Retains the Name</h2> <p><em>Intro by&nbsp;<a href="https://www.marketslant.com/search/content?keys=vince+lanci">Vince Lanci</a>&nbsp; and Bon Scott for <a href="https://www.marketslant.com/user/soren-kgroup">Soren K. Group</a></em></p> <p>The pattern continues in Gold, with last week's move reaffirming the wave count Enda is using below. Friday's rally puts the market right above the high on the 30 minute chart established in the previous "5". The next &nbsp;"1" would be completed if gold pierced the $1271.21 level. After that, any retracement that holds $1259.78 further confirms a wave &nbsp;seeking final extensions to the $1550 area. A drop below $1247 at this point puts into &nbsp;question the pattern, but does not negate it.&nbsp;</p> <p>The 4 hour chart shows a nice traditional channel with an upward bias that also respects the counts described. Note the steepness in the rally in that chart. Impulsiveness is in play now. To clarify, we identify "impulsiveness as a negative describing momentum chasing funds. But the term is not being used the same way here. The &nbsp;author is describing a market that is following the path of least resistance; which right now is higher. This does warn of equally violent pullbacks, but until the wave count is put into question below $1247 the short term and long term bias are aligned.</p> <p>The daily chart shows the macro goal of this pattern: a "corrective" high in the $1550 area. Nothing new here. But that is what bulls want right now. And they are getting it.</p> <h3>&nbsp;GBPUSD, JPY,&nbsp;and Gold Walking Hand in Hand?</h3> <p>Other currencies are lining up to corroborate the &nbsp;count here as well. As her&nbsp;title implies, a GBPUSD high is potentially indicative of an acceleration &nbsp;in Gold. We are fans of JPY&nbsp;behavior when it comes to Gold correlation. Note the&nbsp;similarities at the&nbsp;30 minute and daily charts of the Gold and the JPY&nbsp;below in the analysis. Here is a quick overview.&nbsp;</p> <p><span class="cke_widget_wrapper cke_widget_inline cke_widget_image cke_image_nocaption cke_widget_selected"><span class="cke_reset cke_widget_drag_handler_container" style="background: rgba(220,220,220,0.5); background-image: url(https://www.marketslant.com/core/assets/vendor/ckeditor/plugins/widget/images/handle.png);"><img src="http://www.zerohedge.com/sites/default/files/images/user238352/imageroot/2017/05/23/61.PNG" width="660" height="421" /></span><span class="cke_image_resizer" title="Click and drag to resize">?</span></span></p> <p>Why is this? There are several potential reasons for the eerie&nbsp;parallel between JPY and Gold. One simple one is this. In Asia, the <strong>JPY is viewed as the most stable</strong>&nbsp;regional currency. The Yen is viewed as the USD of the far east. So when Chinese and other Asian players seek safety, the buy Gold and Yen as well as USD if the crisis is EU based. We feel as the Asian Cartel picks up more strength and&nbsp;the USD Petrodollar becomes less powerful, this JPY/ Gold positive correlation will strengthen more.</p> <p>Enda's GBP/USD noted pairing is just icing on a Golden cake to us. But we are happy to now see it. - &nbsp;SKG</p> <h2>GBPUSD top in place, GOLD ready to rocket?</h2> <p><em>by Enda Glynn of&nbsp;<a href="bullwaves.org">BULLWAVES.ORG</a></em></p> <h2>GOLD - 30 min</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/Gold-30-min-20.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/Gold-30-min-20.jpg" width="1355" height="583" /></a></p> <h2>4 Hours</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/Gold-4-hour-9.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/Gold-4-hour-9.jpg" width="1353" height="584" /></a></p> <h2>Daily</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/Gold-daily-1.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/Gold-daily-1.jpg" width="1348" height="573" /></a></p> <p><strong>My Bias:</strong>&nbsp;Long towards 1550<br /><strong>Wave Structure:</strong>&nbsp;ZigZag correction to the upside.<br /><strong>Long term wave count:</strong>&nbsp;Topping in wave (B) at 1550<br /><strong>Important risk events:&nbsp;USD: N/A.&nbsp;</strong></p> <p>Today's rally in GOLD has triggered the alternate wave count for wave 'ii' brown which I had spoken about.<br />That means wave 'ii' brown traced out a running flat which bottomed at 1247.<br />The rise off that low now has a nice impulsive look to it,<br />and one more push up would break the resistance level and create a clear five wave form off the low.<br />That type of action would complete wave '1' pink.<br />Wave '2' pink should find support at 1259.<br />Any break of 1247 form this point will&nbsp;<a href="http://bullwaves.org/elliott-wave-trading-signals/">signal that wave 'ii'</a>&nbsp;brown was extending into a more complex form.</p> <p>For early next week, watch for a break of 1271 to prove the bullish case.</p> <p>Thats it for this week, I wish you all a happy and peaceful weekend.</p> <h2>GBPUSD</h2> <h2>30 min</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/Gbpusd-30-min-19.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/Gbpusd-30-min-19.jpg" width="1360" height="581" /></a></p> <h2>4 Hours</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/Gbpusd4hr-6.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/Gbpusd4hr-6.jpg" width="1356" height="583" /></a></p> <h2>Daily</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/gbpusddaily-1.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/gbpusddaily-1.jpg" width="1354" height="583" /></a></p> <p><strong>My Bias:</strong>&nbsp;short below parity.<br /><strong>Wave Structure:</strong>&nbsp; continuing impulsive structure to the downside in wave (5)<br /><strong>Long term wave count:</strong>&nbsp;decline in wave (5) blue, below parity<br /><strong>Important risk events:&nbsp;GBP: N/A. USD: N/A.&nbsp;</strong></p> <p>Well!<br />The market finally gave us the action which the&nbsp;<a href="http://bullwaves.org/category/elliott-wave-analysis/">main wave count</a>&nbsp;had called for.<br />That is an impulsive decline in a possible wave '3' grey and a break of that important support line at 1.2865.</p> <p>The focus has now fully shifted to the downside, and the beginning of a renewed downtrend in wave (5) blue.<br />The indesision in the wave pattern over the last few days was resolved with a very impulsive third wave down.</p> <p>Wave '2' grey traced out a running flat correction, a wave which is always throws the cat amongst the pigeons!<br />At the moment I can count five waves complete 'within wave '3'.<br />For next week we should get a three wave correction in wave '4' grey and wave '5' grey will likely decline into the trend line once more.<br />Support at 1.2865 now becomes a significant resistance level and should hold the price down for now.<br />Look for wave '4' grey to complete below 1.2865 on Monday.</p> <h2>USDJPY</h2> <h2>30 min</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/usdJpy-30-min-20.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/usdJpy-30-min-20.jpg" width="1360" height="584" /></a></p> <h2>4 Hours</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/usdJpy4hr-4.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/usdJpy4hr-4.jpg" width="1360" height="584" /></a></p> <h2>Daily</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/usdjpydaily-1.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/usdjpydaily-1.jpg" width="1356" height="584" /></a></p> <p><strong>My Bias:</strong>&nbsp;LONG<br /><strong>Wave Structure:</strong>&nbsp;rally in wave [C]<br /><strong>Long term wave count:</strong>&nbsp;wave [C] is underway, upside to above 136.00<br /><strong>Important risk events:&nbsp;JPY: N/A. USD: N/A.&nbsp;</strong></p> <p>Despite further declines today in USDJPY,<br />The price did not take out the support at 110.85 which leaves the bullish short term wave count intact.<br />Today's decline completes a three wave form off the recent high labeled wave '1' pink.</p> <p>The current&nbsp;<a href="http://bullwaves.org/category/elliott-wave-blog/">wave count</a>&nbsp;still calls for a major rally in wave '3' pink, and the support is at that wave '2' low of 110.85.<br />If the price breaks 111.95, then wave '3' will likely be underway.<br />A break of 111.47 strengthen the bullish case in the short term.<br />In the early trade next week, watch for the key support at 110.85 to hold, and a break of 111.47.</p> <h2>DOW JONES INDUSTRIALS</h2> <h2>30 min</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/Dow-30-min-19.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/Dow-30-min-19.jpg" width="1357" height="584" /></a></p> <h2>4 Hours</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/Dow-4-hour-6.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/Dow-4-hour-6.jpg" width="1353" height="583" /></a></p> <h2>Daily</h2> <p><a href="http://bullwaves.org/wp-content/uploads/2017/05/Dow-daily-3.jpg"><img src="http://bullwaves.org/wp-content/uploads/2017/05/Dow-daily-3.jpg" width="1354" height="584" /></a></p> <p><strong>My Bias:</strong>&nbsp;market topping process ongoing<br /><strong>Wave Structure:</strong>&nbsp;Impulsive 5 wave structure, possibly topping in an all time high.<br /><strong>Long term wave count:</strong>&nbsp;Topping in wave (5)<br /><strong>Important risk events:&nbsp;USD: N/A.&nbsp;</strong></p> <p>The DOW is now moving in a corrective pattern, possibly in wave 'ii' pink.<br />I have labelled the short term chart as a complete wave 'a' and 'b' in blue.<br />That leaves wave 'c' blue to the downside to finish off wave 'ii' pink.</p> <p>I have marked 20925 as the initial target for wave 'c' blue.<br />This is the low of the&nbsp;<a href="http://bullwaves.org/traders-guide-elliott-wave/">previous fourth wave</a>.<br />20875 marks the Fibonacci 38.2% retracement level.</p> <p>For Monday, a break of 21037, the wave 'a' low will signal wave 'c' has started.<br />The low at wave 'ii' pink offers the next best opportunity to enter long.</p> <p>It is Memorial Day on Monday, and U.S market is closed, the London market is closed also for the summer bank holiday.<br />So, I will see you all again after the close on Tuesday the 30th.</p> <p>More analysis <a href="www.BULLWAVES.ORG">HERE</a></p> <p>&nbsp;</p> <p>Good Luck</p> <div class="field field-type-filefield field-field-image-blog"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_blog" width="660" height="421" alt="" src="http://www.zerohedge.com/sites/default/files/images/user238352/imageroot/61.PNG?1496071151" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-29/update-gold-ready-rocket-yen-and-cable-say-yes#comments B+ Elliott wave principle European Union Fibonacci Japanese yen Momentum Chasing Technology Television in the United States Wave Wind wave Yen Mon, 29 May 2017 15:21:04 +0000 Vince Lanci 596885 at http://www.zerohedge.com Less Government. More Freedom. http://www.zerohedge.com/news/2017-05-29/less-government-more-freedom <p><a href="http://endoftheamericandream.com/archives/less-government-more-freedom"><em>Authored by Michael Snyder via The End of The American Dream blog,</em></a></p> <p><em><strong>What would America look like today if the dream of our Founding Fathers of a limited central government had actually been realized? </strong></em>We have become so accustomed to big government that many of us simply assume that this is the only way that things can be done. But the truth is that things don&rsquo;t have to be this way. We can have the kind of very limited federal government that our forefathers originally intended, but it is going to take a great deal of education and an enormous amount of political engagement in order to get there. On this Memorial Day, we will remember those that have died for our country, but let it also be a call to action. In every generation, Americans have had to stand up to defend the cause of liberty and freedom, and it will be no different in our generation. <strong>Just like during the Revolutionary War, there is no guarantee that we will be able to save America <a href="http://themostimportantnews.com/archives/charlie-daniels-we-need-1000-paul-reveres-because-we-arent-going-to-allow-the-radical-left-to-steal-our-country-from-us" target="_blank" title="from the forces that are trying to destroy it">from the forces that are trying to destroy it</a>, but if we sit back and do nothing they will win by default.</strong></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/28/20170529_govt.jpg"><img height="404" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/05/28/20170529_govt.jpg" width="588" /></a></p> <p>Just because there is no war to fight does not mean that the threat that we are facing is any less serious than what other generations of Americans have had to face. <strong>Over the last several decades, the U.S. Constitution has essentially been shredded, and at this point our republic is basically hanging by a thread.</strong> If we surrender to the left in this generation, the country that our forefathers envisioned may be gone for good.</p> <p>Today I would like to share with you an excerpt from my upcoming book. It will be released about halfway through 2017, and when it is out you will be able to find it <a href="http://amzn.to/2qsO8c1" target="_blank" title="on my author page">on my author page</a>. As you will see, limited government is something that I am quite passionate about&hellip;</p> <p>*&nbsp; *&nbsp; *</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><em><strong>&ldquo;Liberty, when it begins to take root, is a plant of rapid growth.&rdquo;</strong> (George Washington)</em></p> </blockquote> <p><strong>Big government tends to suck the life out of everything.</strong> If you doubt this, just look around the globe. In nations where a central government dominates every aspect of society, the people seem quite lifeless. Of course an extreme example of this is North Korea. Their entire culture is centered around a philosophy known as &ldquo;Juche&rdquo;, and in this philosophy the &ldquo;leader&rdquo; essentially becomes an object of worship. Literally everything in North Korea revolves around the state and the &ldquo;leader&rdquo;, and as a result most of the<strong> population resembles a horde of mindless zombies.</strong></p> <p>On the other hand, the most dynamic societies throughout human history have always been the ones where people have had a tremendous amount of freedom to express their passions and creativity. There is a reason why we saw an unprecedented explosion of remarkable inventions in early America, and there is a reason why so many millions of immigrants have risked their lives to get here. Liberty has always been such a rare commodity in our world, and almost all governments eventually become tyrannical. That is why it is so imperative that we defend the liberty that we still have in this nation.</p> <p><strong>Our Founding Fathers envisioned a country where freedom and liberty would be maximized. </strong>Of course there always must be some sort of government, because otherwise you would have total anarchy. We want potential thieves and murderers to be frightened of the power of the law, and we are thankful for those that protect us from them. But way too often it is government that becomes the greatest threat to life, liberty and the pursuit of happiness, and that is the sort of tyranny that we desperately wish to avoid.</p> <p>Today, there are literally hundreds of thousands of statutes, rules and regulations on the federal level, and when you throw in the state and local levels you get a total that is in the millions. Virtually every aspect of our lives is very tightly regulated and controlled these days, and this has been going on for so long that most people have begun to accept it as normal.</p> <p>But <strong>the way our society works today is definitely not &ldquo;normal&rdquo;. </strong>Let me share with you an example from the state of California that makes my blood boil. If you can believe it, government officials actually fined one farmer 2.8 million dollars <a href="http://www.breitbart.com/california/2017/05/27/california-farmer-poster-child-for-trumps-epa-regulation-rollback-california-farmer-fined-2-8m-for-plowing-field/" target="_blank" title="for plowing his own field">for plowing his own field</a>&hellip;</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>The California farmer who became the poster child for EPA reform under President Donald Trump is being fined $2.8 million by state and federal regulators for plowing his own field in Tehama County.</p> <p>&nbsp;</p> <p>According to a story in the Redding <a class="x5l" href="http://www.redding.com/story/news/2017/05/23/farmer-faces-2-8-million-fine-plowing-field/336407001/" rel="noopener noreferrer" target="_blank" title="Record Searchlight"><em>Record Searchlight</em></a>:</p> <p>&nbsp;</p> <p><em>&ldquo;The case is the first time that we&rsquo;re aware of that says you need to get a (U.S. Army Corps of Engineers) permit to plow to grow crops,&rdquo; said Anthony Francois, an attorney for the Pacific Legal Foundation.</em></p> <p>&nbsp;</p> <p><em>&ldquo;We&rsquo;re not going to produce much food under those kinds of regulations,&rdquo; he said.</em></p> <p>&nbsp;</p> <p><em>However, U.S. District Judge Kimberly J. Mueller agreed with the Army Corps in a judgment issued in June 2016. A penalty trial, in which the U.S. Attorney&rsquo;s Office asks for $2.8 million in civil penalties, is set for August.</em></p> </blockquote> <p><strong>In early America, they would have howled with laughter if someone would have suggested that farmers should be required to get permission from the government in order to plow a field and grow food.</strong></p> <p>This is just one example that shows why I am proposing that the Environmental Protection Agency <a href="http://themostimportantnews.com/archives/it-is-time-to-put-the-limited-back-in-limited-government-and-abolishing-the-epa-is-a-good-place-to-start" target="_blank" title="should be completely shut down">should be completely shut down</a>. I am very much in favor of protecting the environment, but I believe that the citizens of each state should decide how their own natural resources are managed.</p> <p><strong>And at this point it has become exceedingly clear that the EPA is wildly out of control.</strong> Prior to the Trump administration, the EPA had been operating under Bill Clinton or Barack Obama for 16 of the previous 24 years, and it is absolutely packed with radical leftists that are obsessed with promoting their own political agendas. Instead of trying to fire everyone, the easiest thing would be to just end the agency and start completely over.</p> <p>If you are not with me yet, perhaps another outrageous example will persuade you. The following comes from <a href="http://www.foxnews.com/politics/2016/05/10/wyoming-welder-facing-16m-in-fines-beats-epa-in-battle-over-stock-pond.html" target="_blank" title="Fox News">Fox News</a>&hellip;</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>A Wyoming man threatened with $16 million in fines over the building of a stock pond reached a settlement with the Environment Protection Agency, allowing him to keep the pond without a federal permit or hefty fine.</p> <p>&nbsp;</p> <p>Andy Johnson, of Fort Bridger, Wyoming obtained a state permit before building the stock pond in 2012 on his sprawling nine-acre farm for a small herd of livestock.</p> <p>&nbsp;</p> <p>Not long after contruction, the EPA threatened Johnson with civil and criminal penalties &ndash; including the threat of a $37,500-a-day fine &mdash; claiming he needed the agency&rsquo;s permission before building the 40-by-300 foot pond, which is filled by a natural stream.</p> </blockquote> <p><em>(<a href="http://www.foxnews.com/politics/2016/05/10/wyoming-welder-facing-16m-in-fines-beats-epa-in-battle-over-stock-pond.html" target="_blank" title="http://www.foxnews.com/politics/2016/05/10/wyoming-welder-facing-16m-in-fines-beats-epa-in-battle-over-stock-pond.html">http://www.foxnews.com/politics/2016/05/10/wyoming-welder-facing-16m-in-fines-beats-epa-in-battle-over-stock-pond.html</a>)</em></p> <p><strong><em>Could you imagine being threatened with 16 million dollars in fines for constructing a pond on your own property?</em></strong></p> <p>This isn&rsquo;t how America is supposed to operate.</p> <p>I really don&rsquo;t understand how we can still claim to be &ldquo;the land of the free&rdquo; when we allow leftist control freaks to dominate our lives down to the minutest detail.</p> <p>The left always wants government to become bigger and bigger and to get more and more control. They want a government that is going to guide them safely through life and that will give them everything that they need. But every time government grows, liberty and freedom are diminished.</p> <p>Yes, liberty and freedom can be dangerous and messy sometimes. But living free sure beats being told what to do every single moment of every single day.</p> <p><strong>One of the things that greatly troubles me is that progressives almost completely dominate our system of public education. Our public schools have now become liberal indoctrination centers, and survey after survey has shown that each successive generation has moved to the left compared to the preceding generation.</strong></p> <p>That is why it is so imperative that we end federal interference in education and return control of our schools back to the local level. I would shut down the Department of Education and I would cut off every penny of funding for Common Core.</p> <p>Even though we spend far more on education than anyone else in the world, we are producing absolutely disastrous results. The following comes <a href="http://www.cbsnews.com/news/americas-millennials-well-educated-but-unskilled/" target="_blank" title="from a CBS News report">from a CBS News report</a>&hellip;</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>Half of American Millennials score below the minimum standard of literacy proficiency</strong>.</p> <p>&nbsp;</p> <p>Only two countries scored worse by that measure: Italy (60 percent) and Spain (59 percent). The results were even worse for numeracy, with almost two-thirds of American Millennials failing to meet the minimum standard for understanding and working with numbers.</p> <p>&nbsp;</p> <p><strong>That placed U.S. Millennials dead last for numeracy among the study&rsquo;s 22 developed countries</strong>.</p> </blockquote> <p><em>(<a href="http://www.cbsnews.com/news/americas-millennials-well-educated-but-unskilled/" target="_blank" title="http://www.cbsnews.com/news/americas-millennials-well-educated-but-unskilled/">http://www.cbsnews.com/news/americas-millennials-well-educated-but-unskilled/</a>)</em></p> <p><strong>Our public schools are failing badly, </strong>and we need to get them fixed. But we also need to greatly support parents that are pursuing other educational avenues such as homeschooling and private schools. At this point I completely understand why any parent would want to keep their kids out of our horrific public schools, and ultimately our entire system of education needs to be completely rebuilt from the ground up.</p> <p><strong>Big government sucks the life out of the economy as well. </strong>Over the past ten years, the U.S. economy has grown at an average yearly rate <a href="http://theeconomiccollapseblog.com/archives/over-the-last-10-years-the-u-s-economy-has-grown-at-exactly-the-same-rate-as-it-did-during-the-1930s" target="_blank" title="of just 1.33 percent">of just 1.33 percent</a>, and the only other era in U.S. history when economic growth was so bad was during the 1930s.</p> <p>The business community is being absolutely strangled by rules, regulations, red tape and excessive taxes, but the Democrats always want to pile on more. Big corporations can hire lots of people to comply with all of the demands that government places on them, but <strong>small businesses and entrepreneurs are rapidly becoming an endangered species.</strong></p> <p><strong>Today, there are less Americans that are self-employed than there were 27 years ago.</strong> In April 1990, 8.7 million Americans worked for themselves, but in April 2017 only 8.4 million Americans were working for themselves.</p> <p>That may not sound that bad until you realize how much our population grew over that time frame. In 1990, the population of the United States was 249 million, but today the population is 321 million.</p> <p><strong>So the percentage of Americans that are working for themselves has gone way, way down.</strong></p> <p><u><strong>The solution is to get the government off of our backs.</strong></u> The greatest period of economic growth in U.S. history was between the Civil War and 1913. During this era there was no income tax, no IRS and no Federal Reserve. Many on the left would consider that to be a recipe for disaster, but instead there was an explosion of innovation and industry that was absolutely unprecedented. The following is how <a href="https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#Late_19th_century" target="_blank" title="Wikipedia">Wikipedia</a> describes the economic conditions during this period of time&hellip;</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>In the last third of the 19th century the United States entered a phase of rapid economic growth which doubled per capita income over the period. By 1895, the USA leaped ahead of Britain for first place in manufacturing output.<sup class="reference" id="cite_ref-175"><a href="https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#cite_note-175" target="_blank" title="[175]">[175]</a></sup> For the first time, exports of machinery and consumer goods became important. For example, Standard Oil led the way in exporting kerosene; Russia was its main rival in international trade.<sup class="reference" id="cite_ref-176"><a href="https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#cite_note-176" target="_blank" title="[176]">[176]</a></sup> <a href="https://en.wikipedia.org/wiki/Singer_Corporation" target="_blank" title="Singer Corporation">Singer Corporation</a> led the way in developing a global marketing strategy for its sewing machines.<sup class="reference" id="cite_ref-177"><a href="https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#cite_note-177" target="_blank" title="[177]">[177]</a></sup></p> <p>&nbsp;</p> <p>The greatly expanded railroad network, using inexpensive steel rails produced by new steel making processes, dramatically lowered transportation cost to areas without access to navigable waterways. Low freight rates allowed large manufacturing facilities with great <a href="https://en.wikipedia.org/wiki/Economies_of_scale" target="_blank" title="Economies of scale">economies of scale</a>. Machinery became a large industry and many types of machines were developed. Businesses were able to operate over wide areas and chain stores arose. Mail order companies started operating.<sup class="reference" id="cite_ref-Chandler_1993_119-1"><a href="https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#cite_note-Chandler_1993-119" target="_blank" title="[119]">[119]</a></sup> <a href="https://en.wikipedia.org/wiki/Rural_Free_Delivery" target="_blank" title="Rural Free Delivery">Rural Free Delivery</a> began being implemented in the early 1890s, but it was not widely implemented for a decade.<sup class="reference" id="cite_ref-178"><a href="https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#cite_note-178" target="_blank" title="[178]">[178]</a></sup></p> <p>&nbsp;</p> <p>Companies created a new management systems to carry out their operations on a large scale. Companies integrated processes to eliminate unnecessary steps and to eliminate middlemen.<sup class="reference" id="cite_ref-Chandler_1993_119-2"><a href="https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#cite_note-Chandler_1993-119" target="_blank" title="[119]">[119]</a></sup></p> <p>&nbsp;</p> <p>An explosion of new discoveries and inventions took place, a process called the <a href="https://en.wikipedia.org/wiki/Second_Industrial_Revolution" target="_blank" title="Second Industrial Revolution">Second Industrial Revolution</a>. The electric light, telephone, <a href="https://en.wikipedia.org/wiki/Steam_turbine" target="_blank" title="Steam turbine">steam turbine</a>, internal combustion engine, automobile, <a href="https://en.wikipedia.org/wiki/Phonograph" target="_blank" title="Phonograph">phonograph</a>, <a href="https://en.wikipedia.org/wiki/Typewriter" target="_blank" title="Typewriter">typewriter</a> and <a href="https://en.wikipedia.org/wiki/Tabulating_machine" target="_blank" title="Tabulating machine">tabulating machine</a> were some of the many inventions of the period. New processes for making steel and chemicals such as dyes and explosives were invented. The pneumatic <a href="https://en.wikipedia.org/wiki/Tire" target="_blank" title="Tire">tire</a>, improved <a class="mw-redirect" href="https://en.wikipedia.org/wiki/Ball_bearings" target="_blank" title="Ball bearings">ball bearings</a>, <a class="mw-redirect" href="https://en.wikipedia.org/wiki/Machine_tools" target="_blank" title="Machine tools">machine tools</a> and newly developed metal <a href="https://en.wikipedia.org/wiki/Stamping_%28metalworking%29" target="_blank" title="Stamping (metalworking)">stamping</a> techniques enabled the large scale production of bicycles in the 1890s. Another significant development was the widespread introduction of electric street railways (trams, trolleys or streetcars) in the 1890s.</p> </blockquote> <p><em>(<a href="https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#Late_19th_century" target="_blank" title="https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#Late_19th_century">https://en.wikipedia.org/wiki/Economic_history_of_the_United_States#Late_19th_century</a>)</em></p> <p><strong>But the progressives couldn&rsquo;t leave a good thing alone, and in 1913 the Federal Reserve was established and a federal income tax was instituted.</strong></p> <p>Since that time there have been 18 distinct recessions or depressions, and now we are entering another one.</p> <p>We are always asking our politicians to &ldquo;fix the economy&rdquo;, but the truth is that the best thing that they can do is to get out of the way.</p> <p><strong>If you take the shackles off, free enterprise works exceptionally well.</strong></p> <p>Those that follow my work on a regular basis already know that I believe that the Federal Reserve <a href="http://theeconomiccollapseblog.com/archives/the-federal-reserve-must-go" target="_blank" title="should be shut down">should be shut down</a>, that the IRS should be phased out, and that the federal income tax should be reduced as much as possible with the eventual goal of eliminating it completely.</p> <p>It has been said that nothing is inevitable except for death and taxes, but there is nothing that says that we must have an income tax.</p> <p>We have had an income tax for so long that most people could not imagine life without one. But the United States absolutely thrived without one during the decades prior to 1913, and today states such as Texas and Florida are doing quite nicely without a state income tax.</p> <p>There are lots of other ways to fund the government that do not involve an income tax. And actually <a href="http://www.taxpolicycenter.org/briefing-book/what-are-sources-revenue-federal-government" target="_blank" title="only 46.2 percent of all federal revenue">only 46.2 percent of all federal revenue</a> is brought in through taxing individual incomes. If we cut the size of government in half, we might even have some money to spare.</p> <p>Of course considering the fact that we are 20 trillion dollars in debt, the truth is that we don&rsquo;t have a single penny to spare, but I think that you get my point.</p> <p><strong>I just hope that you are able to see that life is generally better when government is reduced to the proper size and scope.</strong></p> <p><em>We should be able to say what we want to say without fear of retribution.</em></p> <p><em>We should be able to live out our convictions and worship as we please.</em></p> <p><em>We should be able to protect our own homes and do what we want with our own property.</em></p> <p><em>We should be able to raise our own children and make our own health decisions.</em></p> <p><em>We should be able to be free from the fear that the government is watching, tracking and monitoring all of our electronic communications.</em></p> <p><strong>In every human heart there is a hunger to live free, and big government is the enemy of freedom.</strong></p> <p>The dreams that our forefathers once had for this nation may have faded, but they aren&rsquo;t dead just yet.</p> <p><strong>A new generation of patriots is rising, and we are determined to take our country back.</strong></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="588" height="404" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170529_govt.jpg?1496066395" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-29/less-government-more-freedom#comments Army Corps Barack Obama Big Government Biology default Department of Education Donald Trump Environment Environment Protection Agency Environmental policy in the United States Environmental Protection Agency Federal Reserve fixed Florida Fox News Government Internal Revenue Service Italy Natural environment North Korea Pacific Legal Foundation Trump Administration U.S. Army Corps of Engineers U.S. Attorney’s Office United States Environmental Protection Agency US Federal Reserve Mon, 29 May 2017 15:15:49 +0000 Tyler Durden 596878 at http://www.zerohedge.com President Trump Speaks At Memorial Day Ceremony - Live Feed http://www.zerohedge.com/news/2017-05-29/president-trump-speaks-memorial-day-ceremony-live-feed <p>In his first public event since returning to Washington, D.C. from an overseas trip,<br /> President Trump is scheduled to <strong>give remarks during a Memorial Day wreath-laying ceremony at Arlington National Cemetery</strong> on Monday morning.</p> <p>Trump has been tweeting his support of the nation's bravest already...</p> <blockquote class="twitter-tweet"><p dir="ltr" lang="en">Honoring the men and women who made the ultimate sacrifice in service to America. Home of the free, because of the brave. <a href="https://twitter.com/hashtag/MemorialDay?src=hash">#MemorialDay</a>????????</p> <p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/869164414662049793">May 29, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script><blockquote class="twitter-tweet"><p dir="ltr" lang="en">Today we remember the men and women who made the ultimate sacrifice in serving. Thank you, God bless your families &amp; God bless the USA!</p> <p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/869170351049240576">May 29, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script><blockquote class="twitter-tweet"><p dir="ltr" lang="en">I look forward to paying my respects to our brave men and women on this Memorial Day at Arlington National Cemetery later this morning.</p> <p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/869170615881793536">May 29, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script><p>Live Feed - scheduled to begin at 10:55 ET</p> <p>&nbsp;</p> <p><iframe src="https://www.youtube.com/embed/dyxXEfNcys0" width="560" height="315" frameborder="0"></iframe></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="1084" height="707" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170527_hero_0.jpg?1496065540" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-29/president-trump-speaks-memorial-day-ceremony-live-feed#comments American people of German descent Climate change skepticism and denial Donald Trump Human Interest Politics of the United States The Apprentice Trump United States Washington D.C. WWE Hall of Fame Mon, 29 May 2017 14:45:00 +0000 Tyler Durden 596876 at http://www.zerohedge.com "How Does This Ever End?" An Interview With Lacy Hunt http://www.zerohedge.com/news/2017-05-28/how-does-ever-end-interview-lacy-hunt <p>The US economy is struggling with too much debt at every level. A debt jubilee isn&rsquo;t going to solve it; and shifting demographics will likely make it worse. <strong>So, is America headed for two decades of lost growth like Japan? </strong>Dr. Lacy Hunt, who was interviewed by <a href="http://www.macrovoices.com/">Erik Townsend on the latter&#39;s MacroVoices podcast</a>, considers<strong> the endgame for the US economy... Well, we could get lucky, Hunt says.</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&quot;The US economy could experience a modern equivalent of the California gold rush. In the 1820&#39;s and 1830&#39;s, we took on a lot of debt to finance the early canals, steamship lines railroads - it was over-investment, over consumption. The panic year was 1838. Martin Van Buren was president, he didn&#39;t know what was going on. By this, the country languished very badly for 11 years, <strong>and then gold was discovered it California, led to a huge surge in national income, people were very careful how they spent their income. </strong></p> </blockquote> <p><a href="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/05/18/Lacynomgdp.JPG"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/05/18/Lacynomgdp_0_0.JPG" style="width: 500px; height: 385px;" /></a></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&quot;We paid off the debt of the 1820&#39;s, 1830&#39;s, and the economy recovered. In 1873, we had another panic year brought on by too much debt that financed the railroads - remember we built the central line first and then the northern and southern routes, a lot of feeder road industries that supplied the railroads over-expanded and it was over-investment, over-consumption.The panic year hit. <strong>Grant was no more knowledgeable of what was going on than Van Buren had been in 1838. We had no central bank, the government continued to balance its budget. We had a prolonged period of austerity, but by the early 1890&#39;s, the problem had been solved, and we began to go on our merry way.&quot; </strong></p> </blockquote> <p>&quot;Irrational behavior&quot; on the part of US policy makers means our economy will grow to increasingly resemble Japan&#39;s over the long term...</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;I think that our results will mirror Japan over time, certainly not on a quarter to quarter or annual basis, but they&rsquo;re public and private debt is just under 600% of GDP. <strong>Our total public and private debt is about 373%. They&#39;ve tried to solve an indebtedness problem by taking on more debt. There are many many examples of what has happened to extremely over-indebted economies.&quot;</strong></p> </blockquote> <p><a href="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/05/18/LacyJapan.JPG"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/05/18/LacyJapan_0.JPG" style="width: 500px; height: 372px;" /></a></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&nbsp;</p> </blockquote> <p>Hunt notes that there has been important recent work by Allen Taylor, also by a number of people in Europe. There is also work that&rsquo;s been done historically. For example, the leader of The Enlightenment, David Hume- his famous paper on public finance, written in 1752 reaches<strong> the conclusion that:</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>...when a state has mortgaged all of its future liabilities, the state, by necessity, lapses into tranquility, languor, and impotence. </strong></p> </blockquote> <p>And there was Irvin Fisher&rsquo;s 1933 paper on the consequences of extreme over-indebtedness, including pointing out that</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&quot;one of the factors that will happen will be that <strong>the velocity of money will be very weak, </strong>and so there has been a tremendous amount of work. It&rsquo;s just generally speaking been ignored.&quot;</p> </blockquote> <p><a href="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/05/18/lacyprivatepublic.JPG"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/05/18/lacyprivatepublic_0.JPG" style="width: 500px; height: 386px;" /></a></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&nbsp;</p> </blockquote> <p>Hunt points to an excellent summary was published in 2010 by McKinsey Global Institute...</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&quot;They looked at 24 advanced economies that became extremely over-indebted. <strong>The indebtedness brought on a panic year, such as 1929, 1873, 2008, and they followed the process through to completion. </strong></p> <p>&nbsp;</p> <p><strong>It&rsquo;s a very long process, and what it shows is that an indebtedness problem cannot be solved by taking on additional debt.</strong></p> <p>&nbsp;</p> <p>McKinsey says specifically that multi-year sustained rise in the savings rate, what they term austerity, is needed to solve the problem, and of course, as we all know, in modern democracies, that option doesn&rsquo;t seem to exist.</p> <p>&nbsp;</p> <p><strong>So, we try to continue to use what has failed, and while we get transitory improvement in economic activity, the longer-term trend is to weaker and weaker economic performance.&quot; </strong></p> </blockquote> <p>Moving on, Townsend asks, <u><em><strong>is the secular bull market in bonds really over?</strong></em></u></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&quot;My view is that the secular low in long treasury bonds is not at hand - <strong>doesn&rsquo;t mean that rates cannot go up, they have gone up quite a number of times since 1990 when this bull run started, but they&rsquo;re not going to be able to stay up. The economy is too fundamentally weak.&quot; </strong></p> <p>&nbsp;</p> <p>&quot;The main consideration for believing that the trough is not at hand, <strong>is that nominal GDP growth and also the inflation rate is not yet at its secular low.</strong> There have been many transitory swings that will continue to be transitory swings, but thecritical factors that determines the nominal GDP of both working lower experiencing considerably slower growth and money supply,<strong> and at the same time the velocity of money is in a major downtrend.&quot; </strong></p> </blockquote> <p><a href="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/05/18/LacyM2Velocity.JPG"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/05/18/LacyM2Velocity_0.JPG" style="width: 500px; height: 386px;" /></a></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&quot;In 1997, $1 of new M2 growth increased GDP by $2.20, and the first quarter of this year, it was down to $1.42.</strong> This reflects the fact that we have too much of the wrong type of debt. There are many other influences in velocity, but that&rsquo;s the critical factor.</p> <p>&nbsp;</p> <p>I think it&rsquo;s important to <strong>remember that the velocity of money is very volatile.</strong></p> <p>&nbsp;</p> <p>The old secular low was reached at 1.2 in 1946, and that was the year in which we saw the daily, weekly, and monthly lows in the 30 year bond yield. Now, if that is the key factor, not the only factor, but the key factor, which is driving the velocity of money downward, <strong>then velocity is going lower because in Europe, which has debt to GDP ratio 100 percentage points higher than the U.S., velocity is at one and in China and Japan, which are also more indebted than the United States, velocity is around 0.5 to 0.6.&quot;</strong></p> </blockquote> <p>So, Dr. Hunt explains, the US debt load willl continue to climb and velocity will continue to slow - <u><em>unless, of couse, &quot;we get lucky.&quot;</em></u></p> <p><em>The full interview courtesy of <a href="http://www.macrovoices.com/">MacroVoices is below</a>:</em></p> <p><iframe allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/YgV2Lek8d9g" width="560"></iframe></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="624" height="485" alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/Lacyone.JPG?1496008061" /> </div> </div> </div> http://www.zerohedge.com/news/2017-05-28/how-does-ever-end-interview-lacy-hunt#comments Austerity Bond Business China Credit Debt Debt-to-GDP ratio Demographics Economic policy Economy Economy of the United States European debt crisis Finance Fiscal policy Fisher Gross domestic product Japan M2 McKinsey McKinsey Global Institute Money Money Supply National debt of the United States Nominal GDP Savings Rate Mon, 29 May 2017 14:40:00 +0000 Tyler Durden 596847 at http://www.zerohedge.com How To Buy And Sell Gold And Silver Using Bitcoin http://www.zerohedge.com/news/2017-05-29/how-buy-and-sell-gold-and-silver-using-bitcoin <p><strong><em>Submitted by Ronan Manly, <a href="http://www.bullionstar.com">BullionStar.com</a></em></strong></p> <p><span style="font-size:14px;"><span style="color: rgb(48, 48, 48); font-family: Arial, sans-serif;">Given the very strong price appreciation of Bitcoin recently, Bitcoin holders who are thinking of diversifying or taking some profits on their Bitcoin positions may be interested to know that in addition to transacting in US Dollars, Singapore Dollars, and Euros, BullionStar also accepts Bitcoin as a payment option for its precious metals products, and has done so since May&nbsp;2014.</span></span></p> <p><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user227218/imageroot/2017/05/29/Bitcoin%20May%202017.png" style="width: 641px; height: 522px;" /></p> <p><strong>Bitcoin Price in US Dollars, May 2017</strong></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Using the BullionStar website, customers can quickly and efficiently purchase gold bars and gold coins, as well as silver bars and silver coins using Bitcoin. Customers can also sell gold and sell silver to BullionStar and receive settlement proceeds in Bitcoin.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">The maximum transaction size for a purchase order using Bitcoin is currently set by BullionStar at BTC 200 per transaction. There is no minimum transaction size for a purchase order using Bitcoin. For sell orders that settle in Bitcoin, the standard maximum transaction size is currently 30 BTC per transaction, but this can be higher upon discussion with BullionStar.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Bitcoin as a currency is also fully integrated into the BullionStar website. Once you select Bitcoin as the default currency from the Currency drop-down menu at the top right hand side of the BullionStar website homepage, Bitcoin becomes the default transactional currency within the website, and furthermore, all spot prices and associated charts and all product prices on the website will be displayed in terms of BTC.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">If logged into your Account, your &lsquo;My Vault Balance&rsquo; and &lsquo;Cash Balance&rsquo; will also be displayed in BTC. Account history and &ldquo;My Vault Portfolio&rdquo; are also displayed in BTC once Bitcoin is selected as the default currency option.</span></p> <h3 style="box-sizing: border-box; clear: both; font-family: Helvetica, sans-serif; line-height: 1.3; font-size: 18px; margin-top: 22px; margin-bottom: 22px; color: rgb(48, 48, 48);"><span style="font-size:18px;">Buying Gold and Silver using Bitcoin</span></h3> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">To purchase precious metals on the BullionStar website using Bitcoin:</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">1, Select Bitcoin in the currency drop-down menu at the upper right hand side of the BullionStar homepage. This will display all product prices in Bitcoin, and will also automatically populate Bitcoin as the default payment method in the online Checkout tool.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user227218/imageroot/2017/05/29/Bitcoin%20currency.png" style="width: 400px; height: 588px;" /></span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><strong style="box-sizing: border-box; color: rgb(34, 14, 16); font-size: 12px; font-style: italic;">Select Bitcoin&nbsp;in the Currency Dropdown menu</strong></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">2. From the &lsquo;<a href="https://www.bullionstar.com/buy/" style="font-size: 12px; box-sizing: border-box; color: rgb(170, 99, 39); text-decoration-line: underline;"><em style="box-sizing: border-box;">Buy Gold and Silver</em></a>&rsquo; menu option, select the precious metal products you wish to buy. Product prices will be displayed in Bitcoin (BTC).</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">For example, if you are interested in purchasing a PAMP minted 1 ounce gold bar, select &lsquo;Gold Bars&rsquo; from the drop-down menu and the price in Bitcoin of a 1 ounce PAMP gold bar will be displayed in BTC, which, at the time of writing was BTC 0.675530.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user227218/imageroot/2017/05/29/PAMP%20Bitcoin.png" style="width: 650px; height: 341px;" /></span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><strong style="box-sizing: border-box; color: rgb(34, 14, 16); font-size: 12px; font-style: italic;">BullionStar Product Prices displayed in BTC</strong></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">3. Fill in the quantity of the product you wish to buy. Then click the green &ldquo;Add to Cart&rdquo; button to add the selected product to your Shopping Cart.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">4. Repeat Step 3 to add other products to your Shopping Cart, or if finished shopping, select the green &lsquo;Checkout&rsquo; button towards the top&nbsp;right hand side&nbsp;of the screen.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">5. In the subsequent Checkout screen, Bitcoin will appear as the default payment method. Select your preferred &lsquo;Delivery Method&rsquo; of either &lsquo;Vault Storage&rsquo;, &lsquo;Shipping by Courier&rsquo;, or &lsquo;Personal Collection (Pick-up)&rsquo;</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user227218/imageroot/2017/05/29/Checkout%20Bitcoin.png" style="width: 650px; height: 414px;" /></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><strong style="box-sizing: border-box; color: rgb(34, 14, 16); font-size: 12px; font-style: italic;">Checkout Screen with BTC as the default payment option</strong></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Ensure that the order total is less than or equal the maximum transaction size for a purchase order of&nbsp;<strong style="font-size: 12px; box-sizing: border-box;">BTC 200</strong>&nbsp;per transaction.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Fill in your customer information, click the check boxes to indicate that you agree with the&nbsp;Terms and Conditions, and that you agree that the order is binding, then click the &ldquo;Confirm&rdquo; button to place your order.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">6. After clicking &ldquo;Confirm&rdquo;, an order confirmation will appear on the screen. This order confirmation details your order number, the products ordered, the order date, your customer information, and the Bitcoin payment information, i.e. the payment amount in BTC and the unique Bitcoin address to which to send your payment to. An&nbsp;<em style="box-sizing: border-box;">example</em>&nbsp;of a Bitcoin payment amount and a Bitcoin address is shown in the screen below.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user227218/imageroot/2017/05/29/Bitcoin%20payment.png" style="width: 465px; height: 279px;" /></span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><strong style="box-sizing: border-box; color: rgb(34, 14, 16); font-size: 12px; font-style: italic;"><span style="box-sizing: border-box; text-decoration-line: underline;">Example</span>&nbsp;of Bitcoin payment information on an order Confirmation</strong></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Your order confirmation is also sent to your email address.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Upon placing an order and hitting &lsquo;Confirm&rsquo;, you have&nbsp;<span style="box-sizing: border-box; text-decoration-line: underline;">20 minutes</span>&nbsp;in which to send your Bitcoin payment to the unique Bitcoin address that specified on your order confirmation.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">7. As soon as BullionStar has received 6 block confirmations of your Bitcoin payment, which can take anywhere from 20 minutes to a few hours, you will automatically receive a payment confirmation update to your email address. BullionStar will thereafter process your order.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">For those unfamiliar with the Bitcoin transfer confirmation process,&nbsp;<a href="https://en.bitcoin.it/wiki/Confirmation" style="box-sizing: border-box; color: rgb(170, 99, 39); text-decoration-line: underline;">block confirmation</a>&nbsp;is Bitcoin&rsquo;s way of verifying transactions.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">When a Bitcoin transaction is made, it is then verified by&nbsp;<a href="https://en.bitcoin.it/wiki/Mining" style="box-sizing: border-box; color: rgb(170, 99, 39); text-decoration-line: underline;">Bitcoin miners</a>&nbsp;and is grouped with other transactions into a new block on the&nbsp;<a href="https://en.wikipedia.org/wiki/Bitcoin#Blockchain" style="box-sizing: border-box; color: rgb(170, 99, 39); text-decoration-line: underline;">blockchain</a>, upon which it is confirmed. Then when subsequent blocks are added to the block chain, all previous blocks are reconfirmed, a process which generates additional block confirmations.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Generally, merchants and retailers who accept Bitcoin require&nbsp;<span style="box-sizing: border-box; text-decoration-line: underline;">6 confirmations</span>&nbsp;to ensure that a transaction has been fully validated.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Upon receipt for 6 confirmations, BullionStar will proceed to process your order.</span></p> <h3 style="box-sizing: border-box; clear: both; font-family: Helvetica, sans-serif; line-height: 1.3; font-size: 18px; margin-top: 22px; margin-bottom: 22px; color: rgb(48, 48, 48);"><span style="font-size:18px;">Selling Gold and Silver using Bitcoin</span></h3> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">To sell gold or sell silver on the&nbsp;BullionStar website and receive the proceeds in the form of Bitcoin:</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">1. Select Bitcoin in the currency drop-down menu at the upper right hand side of the BullionStar homepage.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">2. Select the &ldquo;<a href="https://www.bullionstar.com/sell/" style="box-sizing: border-box; color: rgb(170, 99, 39); text-decoration-line: underline;"><em style="box-sizing: border-box;">Sell Gold &amp; Silver to us</em></a>&rdquo; option from the main menu.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Select the product(s) and quantity you wish to sell.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Ensure that the total value of the sell order in BTC is less than or equal to BullionStar&#39;s&nbsp;current online maximum transaction size for a sell order of BTC 30 per transaction.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">(Note: If you would like to place a sell order for an amount larger than BTC 30, please send an e-mail to&nbsp;<a href="mailto:support@bullionstar.com" style="box-sizing: border-box; color: rgb(170, 99, 39); text-decoration-line: underline;">support@bullionstar.com</a>&nbsp;or call +65 6284 4653&nbsp; to enquire whether we can settle your sell order in Bitcoins.)</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Enter your customer information. The Payment Instructions box will be defaulted to Bitcoin. In the Bitcoin Address box, enter the Bitcoin address where you want to receive your Bitcoin payment to. Then submit your order by clicking &ldquo;Confirm&rdquo;.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user227218/imageroot/2017/05/29/Bitcoin%20sell.png" style="width: 650px; height: 339px;" /></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><strong style="box-sizing: border-box; color: rgb(34, 14, 16); font-size: 12px; font-style: italic;">Bitcoin Sell screen. Payment Instructions defaults to Bitcoin and&nbsp;Bitcoin Address box</strong></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">For more information, see BullionStar&#39;s help page &quot;<a href="https://www.bullionstar.com/help/bitcoin" style="font-size: 12px; box-sizing: border-box; color: rgb(170, 99, 39); text-decoration-line: underline;">Bitcoin as Payment Option and Currency</a>&quot;.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">To convert Bitcoins to traditional fiat currency, one straightforward option is to use a Bitcoin exchange such as Bitstamp in the USA or FYB-SG in Singapore. The steps to follow would be to open an account with a Bitcoin exchange, transfer your Bitcoins to your account wallet on the Exchange, sell the Bitcoins on the exchange, and then withdraw the proceeds of the sale in a currency such as US Dollars.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Those who currently do not hold Bitcoin but who might want to can also open and fund a Bitcoin account with one of the Bitcoin Exchanges, and then buy Bitcoin to hold in their Exchange account. This Bitcoin could then be subsequently used in a transaction on the BullionStar website to buy gold or buy silver.</span></p> <h3 style="box-sizing: border-box; clear: both; font-family: Helvetica, sans-serif; line-height: 1.3; font-size: 18px; margin-top: 22px; margin-bottom: 22px; color: rgb(48, 48, 48);"><span style="font-size:18px;">BullionStar Charts: View and Create Bitcoin Charts</span></h3> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">Note that historic Bitcoin prices are also available on the BullionStar Charts page, where Bitcoin is listed under the Currencies category along with 18 major currencies. The BullionStar charting tool allows you to chart the price of Bitcoin in terms of other currencies and in terms of precious metals, commodities, major stocks, popular stock indices, and in terms of the prices of BullionStar&rsquo;s product range.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size:14px;">With a Bitcoin price history going back to January 2011, you can use BullionStar charting tools to check and view the price action of Bitcoin over the last 6 and a half years.</span></p> <p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 24px; color: rgb(48, 48, 48); font-family: Arial, sans-serif; font-size: 12px;"><span style="font-size: 14px;">This article first appeared on the BullionStar website <a href="https://www.bullionstar.com/blogs/bullionstar/buy-sell-gold-silver-bitcoin/">here</a>.</span></p> http://www.zerohedge.com/news/2017-05-29/how-buy-and-sell-gold-and-silver-using-bitcoin#comments Alternative currencies Bitcoin Bitcoin Bitcoin ATM BitPay Business Cryptocurrencies Currency default Digital currency exchange Finance Money Precious Metals Price Action Mon, 29 May 2017 14:22:12 +0000 BullionStar 596879 at http://www.zerohedge.com