by Andy Hoffman, Miles Franklin:
TPTB are rapidly losing their game of “money-printing chicken”; as no matter how much they try to deceive the masses a “realization of reality” is rapidly encircling the globe. To wit, artificially propped European stock markets can pretend Europe is “recovering” all they want, but yesterday’s horrific Eurozone PMI decline, and this morning’s six-month low in the widely watched German IFO survey scream otherwise. To that end, the Fed can claim there’s “no inflation” all it wants. However, shocking data like May’s 10% industry-wide airfare increase – i.e., the biggest jump since the dot-com heyday of 1999 – decidedly refutes their claims. Not to mention, the Fed’s belief that “the housing market” is booming; when in fact its only strength is in $1 million-plus homes of “the 1%” receiving their free money.
And the same goes for the precious metals “bear market” which as we discussed yesterday looks very much to have ended. The Cartel’s suicidal, “go for broke” raids of the past three years – starting with 2011’s “point of no return” attacks, and culminating with April 2013’s “Alternative Currencies Destruction” raids have left them extremely vulnerable – as record-setting Eastern demand, and an abysmal production outlook yield the very real possibility of crippling shortages in the coming years or perhaps months.
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