The Phaserl


When I Said The Lowest-Ever Inflation Adjusted Gold Price, I Meant It!

by Andy Hoffman, Miles Franklin:

So you understand just how dire – and global – the “Greatest Depression” is becoming, here’s a sampling of the “PiMBEEB,” or Precious-Metal-bullish, everything-else-bearish headlines of the past 24 hours alone. Which cumulatively, tells you all you need to know about how all Central banks will respond into the foreseeable future. Or, more accurately, forever – given that fiat currency regimes by nature are Ponzi schemes; which consequently, must expand exponentially; whilst maintaining public confidence; to prevent immediate, spectacular collapse.

98% of Greeks consider their economic situation bad, survey says
South Africa unexpectedly plunges into recession
Stressed Australians struggle with record debts
Spain’s Banco Popular bailed-in, acquired by Santander for €1 (my comment, can you say Cyprus, and Bear Stearns?)
It’s their going out of business sale – Venezuela struggles to sell $5 billion bonds
Qatar-strophe Strikes Riyal, as FX Forwards Signal Peg-Break Looms
Elderly Americans are taking their grandkids’ summer jobs
Would Congress authorize the bankruptcy of Illinois and other states?
Seattle follows San Francisco, Philadelphia in passing job-killing soda tax
Where are the new (U.S.) factory orders? Not here
Chicago cab industry collapsing, as medallion foreclosures soar
Oil prices plunge after biggest gasoline inventory build of year
Sears closing another 66 stores, Joe’s Crab Shack files for bankruptcy
Gymboree misses interest payment, prepares bankruptcy filing
Macy’s stock tumbles after issuing profit margin warning
S. mortgage, refinance applications again plunge in week ending June 2nd (my comment – C’mon Janet, I dare you to raise rates)

And my “favorites,” considering the Fed supposedly intends, for some unfathomable reason, to “raise rates” next week. This, despite having said, in their May 3rd meeting “minutes,” that “members generally judged it prudent to await additional evidence that the recent slowing in the pace of economic activity has been transitory before taking another step in removing accommodation.”

S. macroeconomic index slumps to 16-month lows
Bond yields tumble to 2017 lows, after China says ready to buy more Treasuries (my comment, what part of PONZI SCHEME am I missing?)

This, my friends, is why only historic, unrelenting market manipulation – both overt and covert – is being utilized to prevent widespread realization of the dire, irreversible financial and economic collapse the world is amidst. Which ultimately, must result in catastrophe, when – at least in real terms, if not monetary terms, too – the “dotcom (stock, bond, and real estate) valuations in a Great Depression Era” said manipulations have created, inevitably, spectacularly, collapse.

Yield curve collapses to nine-month lows as stocks hit record highs

Visually, this is what the powers that be are fighting against; which in turn, is why suggestions of imminent monetary policy tightening are so ludicrous, even if they have painted themselves into the “rate hike corner” for next week’s FOMC meeting by “crying wolf” once too often. Not to mention, why “rumors” that the ECB will speak “incrementally hawkishly” at tomorrow’s meeting may prove unfounded at best, and fraudulent at worst.

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