North Korea

Futures Flat Ahead Of Payrolls As Gold Continues Surge After Entering Bull Market

There is an odd feeling of Deja QEu this morning, when with two hours to go until the February payrolls, global stocks are modestly higher, US equity futures are likewise slightly higher on the back of a weaker dollar (or perhaps stronger Euro following a Market News report according to which the ECB may disappoint, more on that shortly), but it is gold that is breaking out, and after entering a bull market yesterday when it rallied 20% from its December lows gold has continued to surge, rising as high as @1,274 in early trading a price last seen in January 2015.

Kim Jong Un Orders Nuclear Weapons Made Ready For Use

Yonhap news agency reports North Korean leader Kim Jong Un has ordered the country's nuclear weapons be made ready for use. This action follows the firing of a volley of short-range projectiles into the sea to the south after the UN Security Council unanimously passed sanctions targeting North Korea’s banks, mineral exports and cargo vessels.

Guest Post: Will A "Socialist" Government Make Americans Freer?

Ultimately, electing someone significantly further left than Obama will not help matters in any sense at all, except maybe that it will show how little trust we should put in anyone who willingly wears the socialist label. The only good outcome of a Sanders administration may be that we’ll all say to ourselves afterward: “Well, we won’t be trying that again!”

Frontrunning: February 25

  • Europe shrugs off pre-G20 China stocks slump, sterling steadies (Reuters)
  • China Unveils Its Deliverables for G-20 -- And No Plaza Pact (BBG)
  • Foreign Money Could Be Slow to Enter China’s Bond Markets (WSJ)
  • China Urged to Stomach Much Higher Fiscal Deficit (WSJ)
  • Trump's Momentum Has Republicans in Congress Confused and Cowed (BBG)

Donald Trump Is Right: Here Are 100 Reasons Why We Need To Audit The Federal Reserve

When a leading nominee for President gets something exactly right, we should applaud them for it.  In this case, Donald Trump’s call to audit the Federal Reserve is dead on correct.  Most Americans don’t realize this, but the Federal Reserve has far more power over the economy than anyone else does – including Barack Obama.  The funny thing is that the Federal Reserve is not even part of the federal government.  It is an independent private central bank that was designed by very powerful Wall Street interests a little over 100 years ago.  It is at the heart of the debt-based financial system which is eating away at America like cancer, and it has no direct accountability to the American people whatsoever.

Guest Post: Great Power Realignment - To Russia?

The end result may be "peace," but of the Machiavellian sort. "Peace," Machiavelli wrote, is the set of conditions imposed by the winner on the loser of the last war. The Turks and the Russians understand him. The Americans? Perhaps not so much.

Keynesianism's Long March To The Dustbin Of History

The whole Keynesian regulatory structure is going to collapse. Why? Because we are reaching an inflection point. We are reaching the point at which the exponential curve turns sharply upward. This is good news for liberty, and it is bad news for the arrogant theorists of Keynesian central planning, the arrogant tenured bureaucrats of central banks, and the protected employees of virtually every other government-regulated industry or profession. They are presiding over the final stages of the illusion of central planning.

Too Many... Convenient Beliefs

People come to believe whatever they need to believe when they need to believe it. Recent studies of voting patterns confirm the obvious. Zombies vote for higher taxes. Cronies vote for lower taxes. All believe they are voting for matters of principle.

Neil Howe Warns The 'Professional Class' Is Still In Denial Of The Fourth Turning

"The world has fundamentally shifted over the last decade, especially since we’ve emerged from the Great Recession... But the professional class has been very slow to understand what is going on, not just quantitatively but qualitatively in a new generational configuration that I call the Fourth Turning. They don’t accept the new normal. They keep insisting, just two or three years out there on the horizon, that the old normal will return – in GDP growth, in housing starts, in global trade. But it doesn’t return."

North Korea Launches Long-Range Rocket

After "preparing" for over a week, moments ago at 00:31 UTC time, North Korea - which has failed to shock the world with some "news" for over a month when it tested a "hydrogen" bomb which according to experts was anything but - launched a long-range rocket which some say is being used as a cover for banned missile test. North Korea has called the launch an attempt to "peacefully launch a satellite." Japan, however, is not happy as according to initial reports, it flew over its airspace in proximity to Okinawa.

Pentagon Will Spend $3.4 Billion Next Year To Keep You Safe From "Aggressive" Russians

It's a dangerous world out there and these are exceptionally uncertain times. Fortunately, US Defense Secretary Ash Carter is a dangerous man and if you give him $582 million of your tax dollars, he'll keep you safe from sneaky Russians, scheming Chinese, plotting Iranians, unpredictable North Koreans, and bloodthirsty terrorists. 

Fantasy? North Korea's "Hangover-Free Alcohol" Or America's "Consequence-Free Debt"

While we may poke fun at North Koreans’ gullibility, frankly we don’t find the idea of ‘hangover-free alcohol’ any dumber or less deceptive than the idea of ‘consequence-free debt’. Or the idea that you can print your way to prosperity. Hangover-free alcohol is pretty silly. But in the West, we believe the biggest lies of all...

 

The Story You Aren't Being Told About Iran Capturing Two American Vessels

The airwaves in the United States were filled with images of sailors on their knees while a US Navy vessel was searched. Unjustified outrage swept the nation. The US Secretary of Defense blamed the incident on a simple navigation error, however a chain of events leading back to 2009 demonstrates the facts are a little more complicated than first appear. The chain of events leads defense analysts to one unmistakable conclusion: Iran has the ability to disrupt US GPS systems.