Could you live without debt? Most Americans say that they cannot. According to a brand new Pew survey, approximately 7 out of every 10 Americans believe that “debt is a necessity in their lives”, and approximately 8 out of every 10 Americans actually have debt right now. Most of us like to think that “someday” we will get out of the hole and quit being debt slaves, but very few of us ever actually accomplish this. That is because the entire system is designed to trap us in debt before we even get out into the “real world” and keep us in debt until we die. Sadly, most Americans don’t even realize what is being done to them.
Let’s look at two different topics where we are seeing contradictory “evidence”. First up is what’s happening in the gold and silver markets. Never before have I seen sentiment as poor as it is today. Nor have I seen so many negative articles about gold in the various mainstream publications. It has gotten so bad, gold has even been compared to “pet rocks”! While we have seen food fights before, the name calling as of late has become deafening led recently by Martin Armstrong and Cliff Droke. I wonder how or what their response is to the physical side of the argument?
As you know, there have been “air pockets” in the price of gold over the last three years. Nearly always, these takedowns occur at night and in particular Sunday nights. The last one a couple of weeks back, saw $2.7 billion worth of gold sold over a two minute span. I have asked the question many times, “who” controls this much gold and if we could identify someone or some entity, “who” would ever sell in a manner to destroy pricing if a profit motive truly exists?
Andy Hoffman from Miles Franklin is back to document the global economic collapse for the final week of July, 2015.
With September looming, a month in which many have predicted the great collapse will begin in earnest, Andy and I cover the current state of affairs – as the global economic situation deteriorates. First on the menu, the Chinese stock markets where despite $800 Billion in overt government intervention in the past month the bubble continue to burst, causing ripple effects which are beginning to be felt globally.
We also cover the current state of the PHYSICAL metals markets, “As we speak we are at record demand, we’re at record deliveries of physical gold around the world and inventories everywhere from the Comex to the Shanghai Exchange to the GLD etf are vanishing. In silver it’s beyond ridiculous, the US Mint keeps running out of silver. The perfect storm is hitting precious metals and the powers that be are doing everything in their power to kick the can that last mile,” says Andy.
We also cover other critical news items from around the world including the never ending Fukushima nightmare, the secret UK government plan to unleash 5,000 armed soldiers on city streets, the rise of Donald Trump, and the fall of Abenomics.
One of the most recent decisions made by US Department of Agriculture has been branded as controversial and led to numerous disputes and arguments. The USDA decided to give an organic label to produce that is grown in controlled, water-based environments. The decision to label aquaponics and hydroponics as organichas angered a lot of people.
Should aquaponics and hydroponics be considered as “organic” vegetables?
When the word “organic” is mentioned, people usually associate it with food that is healthful, safe, and produced in an environment which wasn’t “ruined” with various chemicals, pesticides etc. However, it should be noted that organic doesn’t always mean some product is 100% organic and standards vary from country to country. For example, the US Department of Agriculture determines what is considered organic in the United States. Some products can be 95% or 100% organic, while others are 70% or less. However, it is mandatory to write that on the label.
The best part about Hillary Clinton’s run for the Presidency, is the endless series of scandals and shadiness that inevitably comes along with being part of an entrenched status quo family that prioritizes the accumulation of wealth and power above all else. The reason Barack Obama was able to generate so much genuine “hope” prior to his election is 2008, is because he was a complete unknown. He could say all the right things, and it was easy for people to believe the hype.
The exact oppositie is true of Hillary. No one believes anything that comes out of her mouth. Everyone knows she is dishonest, shady, and as Camille Paglia perfectly summarized in her Salon article today:
Chinese scientists have discovered what could potentially be a massive hidden ocean underneath the Tarim basin in northwestern Xinjiang, China, the South China Morning Post reported. The basin is one of the driest places on Earth, but the amount of salt water hidden underneath could equal 10 times the amount of water found in all five of the Great Lakes located in the U.S.
“If the Fed maintains its kamikaze tight money mantra in the middle of a deflationary currency war,” Jim Rickards wrote this week in the Daily Reckoning, “then gold and other commodities could go a bit lower.
“My expectation is the Fed will wake up to the damage done and reverse course; possibly even launching QE4 in 2016.
“As this plays out over the next few months, look for commodity and currency markets to hear the message that the Fed will achieve inflation ‘whatever it takes.’
“Once that message sinks in,” says Jim, “gold will once again shine.”
— Gold. Gold. Gold. Everybody forgot about sleep. Now it’s gold.
According to theWall Street Journal, total donations by UBS to the Clinton Foundation grew from less than $60,000 at the end of 2008 to approximately $600,000 by the end of 2014. The Wall Street Journal reports that the bank also lent $32 million through entrepreneurship and inner city loan programs that it launched in association with the Clinton Foundation. At the very same time, they were paying former President Bill Clinton $1.5 million to participate in a series of corporate Q&A sessions with UBS Chief Executive Bob McCann. You really cannot make up this stuff.
On top of that, the Inspector General recommended that the Justice Department investigate Hillary’s erasing of emails for that would have clearly been criminal. Of course, theJustice DepartmentwouldNEVERinvestigate Hillary while in the hands of the Obama Administration. This is why the whole executive structure of government is broken.
China lost 2% to 3% last night, though Europe was slightly positive. Our stock market fell a bit less than 0.5% in the early going, for no particular reason that I could see. Last night’s crop of earnings reports saw plenty of disappointments, from high-flyer Facebook to Whole Foods to BorgWarner, but I don’t think that had much to do with this morning’s weakness. Today’s macro data, in the form of the GDP report, is a perfect snapshot of where the economy actually is. According to the government, GDP growth for the second quarter was 2.3%, while prices rose 2%, so if you accept those numbers at face value they essentially equal stagflation.
But Who’s Counting?
I would suggest the reality is worse, because the actual inflation rate is undoubtedly higher than 2% (especially if you are a renter), and we have basically been in a stagflationary environment for at least several years, though it continues to be viewed as a deflationary one. When that psychology changes and the environment is recognized for what it really is, I think equity valuations, and bonds, for that matter, will be drastically different, but that change still lies ahead of us.
One of the lead scientists who helped conduct the World Health Organization (WHO) study on Monsanto’s Roundup herbicide that determined the chemical to be “probably carcinogenic” has now gone on record saying that glyphosate is “definitely genotoxic.”
Professor Christopher Portier, speaking at a recent scientific briefing on glyphosate in Westminster, London, told listeners that there’s “no doubt” in his mind that glyphosate, the primary active ingredient in Roundup, causes genetic damage that can lead to cellular malfunction and cancer.
The event was put on by the U.K.-based Soil Association, which is pushing British authorities to implement a full ban on the use of glyphosate, which is commonly sprayed on genetically-modified (GM) crops and used as a pre-harvest ripening agent to help control weeds.
By any measure, the Chinese equity markets are in turmoil. The Shanghai Index, up 150 percent in a year and down some 30 percent since mid-June, was hit hard again Monday, losing another 8.5 percent — its second-biggest fall in its history. The selloff continues despite weeks of unprecedented market-rigging stimulus measures by the Chinese government. They include pumping in more than $200 billion to buy failing shares, restricting short selling and halting trading of nearly 50 percent of stocks on the Shanghai Composite. Although hundreds of stocks have resumed trading since the restrictions were implemented, 126 are still blocked from trading.
$225 Billion In Capital Flees China
Not only are its equity markets shedding trillions in investor losses, Goldman Sachs estimates some $225 billion of capital has flowed out of China in the second quarter.
The deals are moving hot and heavy in the Middle East. This may represent some sort of secret major realignment among middle eastern nations of which President Obama’s nuclear deal with Iran may only be a small part. A Russian news agency yesterday announced that the Russian government has signed major deals in Saudi Arabia, Egypt and Jordan for the construction of much needed nuclear power plants.
A New York based Devil obsessed cult, known as The Satanic Temple, used funds from a recent PR driven Baphomet statue unveiling in Detroit to fund an effort to undermine legal moves to ban abortion after 20-weeks, as well as other anti-abortion legislation.
Breitbart reports that a Temple spokeswoman told reporters that proceeds from $25 and $75 tickets to the event, billed as the “largest public satanic ceremony in history,” will be used to “support the reproductive rights legal action fund.”
Child sacrifice and ritual abuse has been linked to Satanism for hundreds of years. The story of the ancient Ammonite god Moloch, also known as Baal, says that he demanded his followers offer up their own children to be burned as sacrifices.