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Latest News Articles – April 14, 2016

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Lindsey Williams - Latest News Articles

Latest News From April 8, 2016 to April 14, 2016:

  • Hathaway Is Right, The Price Of Gold Will Skyrocket…To $10,000 – $20,000
    Eric King:  “Stephen, I know you’ve had a chance to look at the KWN interview with John Hathaway — your thoughts on what John had to say.” Stephen Leeb:  “John is absolutely right.  Eric, I don’t think people really appreciate how little gold there is in the world.  If you add it all up, the value of all of the physical gold in the world is something like $7 trillion….
  • Greece sells country’s largest port to China
    China has described a deal to sell Greece’s biggest port to Chinese shipping group COSCO as a “win-win” for both countries. Under the deal between Greece’s privatization fund HRADF and China COSCO Shipping Corporation, the Chinese investors will pay 280.5 million euros($319.79 million) to HRADF for the initial acquisition of a 51 per cent stake, while it will pay another 88 million euros within five years for the remaining 16 per cent, provided it has implemented the agreed investments in the port.
  • Legend Art Cashin Warns This May Shock Investors Across The Globe And Create Panic
    Legend Art Cashin warns this may shock investors and create panic. Eric King:  “Art, you put out a note yesterday stating that we needed to take a look at the velocity of money.  What is that looking like at this point?  Any changes? Art Cashin:  “Yes, M2 has moved up.  But perversely and in a countervailing sense, the Bank of St. Louis released the monetary base.  The monetary base is what the Fed can do directly.  If you can grow the monetary base, then ordinarily it would indicate that you can get monetary velocity and some inflation.
  • World Gold Council First Quarter Report a Bunch of Bull
    The World Gold Council’s first quarter report is a bunch of bull. Or perhaps it would be more accurate to say it projects a very bullish outlook for gold. The report confirms what we already knew – gold got off to a glittering start in 2016 – and it predicts the rally will likely continue and evolve into a genuine, long-term bull market.
  • Gold Surges As Peter Boockvar Issues An Ominous Warning
    On the heels of gold trading $20 higher and silver surging 60 cents, today Peter Boockvar issued an ominous warning. Peter Boockvar:  Following the rally from Friday, European bank stocks are up for a 2nd day as more details emerge about a possible private sector involved TARP like program for Italian banks. Officials from the Italian Treasury Department and central bank will be meeting with top bank executives possibly this week. The Euro STOXX bank index is up by 2.3% as of this writing after Friday’s 3% rally with Italian banks again leading the gains. Italian banks have been suffocated by an excess of bad loans and the Renzi government is finally doing something about it…
  • How The Oil Crisis Has Impacted Military Spending
    A report by the Stockholm International Peace Research Institute has revealed that most of the world’s nations hiked their military budgets last year, marking the first increase in spending since the 2008 crisis. It seems that the only ones not taking part in this military spending hike are some of the world’s biggest oil producers. While the United States is still the country with the largest military budget at $596 billion spent in 2015, this figure was actually a decline on the previous year. Saudi Arabia, according to Bloomberg, would also have cut its military budget if not for the war in Yemen. Russia, the world’s top oil producer, shrank military outlays in 2015 to $66.4 billion.
  • How a US President and JP Morgan Made Panama: And Turned it Into a Tax Haven
    This goes back a long way. The Panamanian state was originally created to function on behalf of the rich and self-seeking of this world – or rather their antecedents in America – when the 20th century was barely born. Panama was created by the United States for purely selfish commercial reasons, right on that historical hinge between the imminent demise of Britain as the great global empire, and the rise of the new American imperium.
  • Something Just Snapped In Saudi Money Markets
    Away from the headlines about The Panama Papers, global financial markets turmoiled quietly this week with a surge in equity and FX volatility and banks suffering more death blows. However, something happened in Saudi Arabia's banking system that was largely uncovered by anyone in the mainstream… overnight deposit rates exploded to their highest since the financial crisis in 2009…
  • ALERT: Legend Warns That People Must Now Prepare For A Massive Global Collapse
    Egon von Greyerz:  “The bank stocks are now warning investors that it is time to get money and assets out of the banking system. As you know Eric, we warned investors long before the 2006 – 2009 crisis to get out of the banking system. At that time banks were saved by a $25 trillion global package but that won’t happen again. Credit worldwide has increased by 70% since 2006 and the banking system as well as the world economy are now in a massively worse condition than they were at that time…
  • Pierre Lassond On the End of the Bear & $8000 Dollar Gold
    Franco-Nevada’s Pierre Lassond is “very sure” gold’s 5 year bear market is over and we’re at the start of a new bull market. Just how high could gold go during this new bull market?
  • Will the Bank of Japan force a lower yen?
    Both the European Central Bank and the Bank of Japan appear to be making little headway in bringing their respective currencies down against the dollar, and lifting inflation rates which in some cases have faltered into negative territory. And so it was on Friday that the yen’s highest level in two years delivered another blow to the Japanese government’s efforts to swing the economy around since it plummeted in the wake of the Fukushima nuclear disaster five years ago.
  • Watch Japan – For All Is Not Well In The Land Of The Rising Sun
    One of the epicenters of the global financial crisis that started during the second half of last year is Japan, and it looks like the markets in the land of the rising sun are entering yet another period of great turmoil.  The Nikkei was down another 390 points last night, and it is now down more than 1,300 points since a week ago.  Why this is so important for U.S. investors is because the Nikkei is often an early warning indicator of where the rest of the global markets are heading.  For example, the Nikkei started crashing early last December about a month before U.S. markets started crashing really hard in early January.  So the fact that the Nikkei has been falling very rapidly in recent days should be a huge red flag for investors in this country.
  • CEO Keith Neumeyer: “There's Going To Be A Major Revolt If We See Negative Rates”
    CEO Keith Neumeyer Warns: “There’s Going To Be a Major Revolt… We’re Going To See Riots” With negative interest rates now the order of the day in much of the Western world, it’s only a matter of time before financial institutions start charging American depositors for the privilege of keeping their money safe in the U.S. banking system.
  • Why Are Thousands Of Millionaires Fleeing Chicago And Other Major Cities Around The World?
    The elite are fleeing major cities around the globe at a staggering rate.  In fact, the Chicago Tribune is reporting that approximately 3,000 millionaires left the city of Chicago alone during 2015.  The same study discussed in that Chicago Tribune article found that 7,000 millionaires left Paris, France last year.  So why is this happening?  Why are thousands of millionaires suddenly packing up and moving away from the big cities?  Could it be possible that they have many of the same concerns that “preppers” do about what is coming?
  • Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic
    Mainstream news outlets are already starting to use the phrase “economic collapse” to describe what is going on in some areas of our world right now.  For many Americans this may seem a bit strange, but the truth is that the worldwide economic slowdown that began during the second half of last year is starting to get a lot worse.  In this article, we are going to examine evidence of this from South America, Europe, Asia and North America.  Once we are done, it should be obvious that there is absolutely no reason to be optimistic about the direction of the global economy right now.  The warnings of so many prominent experts are now becoming a reality, and what we have witnessed so far are just the early chapters of a crushing economic crisis that will affect every man, woman and child in the entire world.
  • Deutsche Bank Says World “Past The Point Of No Return” In The Default Cycle
    Over the past year, the credit cycle finally turned, and has unleashed the latest default cycle. In fact, as BofA's Michael Contopoulos warned last week, it may be the worst default cycle in history with “cumulative losses over the length of the entire cycle could be worse than we’ve ever seen before.” Over the weekend, the FT got the memo with a report that “global company bond defaults at highest level since 2009” in which it said that “the global bond default rate by companies is running at its highest since 2009 with the US accounting for the vast majority, according to rating agency Standard & Poor’s. A further four defaults this week, with three coming from the troubled oil and gas sector, pushed the overall tally to 40 with a little over a quarter of 2016 done.”
  • Biggest Collapse Ever-Get Gold Now-James Rickards
    Financial expert and best-selling author James Rickards says another economic collapse is coming. Rickards contends, “It’s very clear, and you can prove this scientifically.  The next collapse will be bigger than anything in history or maybe since the Bronze Age or the fall of the Roman Empire.  Why do I say that? . . . We have these things coming together.  The system is larger.  That means systemically it is exponentially more risky.  The central banks don’t have any dry powder, and it is just a matter of time before the collapse comes.  In 1987, the stock market fell 22% in one day, not in a week or a month, but one day.  Today, that would be the equivalent of a 4,000 point drop. . . . In 1998, the Long Term Capital crisis shut almost every stock and bond exchange in the world.  In 2000, the Dot Com; 2007, the mortgage crisis; and in 2008, you had Lehman and AIG (failures).  In other words, these events are not rare, and they happen every three, four or five, six or eight years.  It’s not like clockwork, but nobody should be surprised if it happened tomorrow.  We’ve got the systemic scale.  We’ve got exponential increase in risk.  The central banks are out of dry powder, and it’s been eight years since the last one.  It’s just a matter of time.”
  • Next Shoe to Drop on Spanish Banks – “The mortgage ‘floor clauses’ are a fraud.”
    Thursday, April 7, 2016, could go down in history as a great day for Spanish mortgage holders and a very grim one for many Spanish banks, thanks to a new ruling that the so-called mortgage floor-clauses that were unleashed across the whole financial sector in 2009 are abusive (but not illegal) and lack transparency. These floor clauses set a minimum interest rate — typically of between 3% and 4.5% — for variable-rate mortgages, even if the Euribor drops far below that figure. In other words, the mortgages are only really variable in one direction: upwards!
  • BlackRock CEO Fink: Negative & Low Interest Rates Eat into Consumer Spending at Worst Possible Time
    “A hostile landscape” – that’s what BlackRock CEO Larry Fink called the global investment, economic, and political environment in his gloomy annual letter to his shareholders. It starts out propitiously: Investors today are facing tremendous uncertainty fueled by slowing economic growth, technological disruption, and social and geopolitical instability. More specifically: In China, growth is slowing with global effects. In the U.S., the quality of corporate earnings is deteriorating, with record share repurchases in 2015 driving valuations – an indication of companies succumbing to the pressures of short-termism in place of constructive, long-term strategies.
  • Supply Chain Slump “Worse Than The Great Recession”
    Not to continue beating a dead horse, but I have a stick and the carcass is right in front of me. The entire supply chain inside the US economy is full agreement both on where the economy is right now and, perhaps more importantly, how it came to be that way. Such harmony is not atypical, as synchronicity usually defines the hard edges of any cycle. This, however, is something else entirely, especially as it stretches back years and confirms we are witnessing nothing like the usual.
  • Iran War Drums, Panama Papers Update, Economy Weak and Sick
    Lots of news about Iran this week being overlooked because of the so-called Panama Papers. Iran has issued a warning to the U.S. not to interfere with its ballistic missile program.  Iranian officials say any attempt to interfere with its weapons program would be crossing a “red line.”  Iran also wants to improve the destructive power of its warheads which would also help in detonating a nuclear armed missile.  Iran has recently test fired ballistic weapons and continues to develop them.  An Iranian General was quoted this week on Iranian state run press, as saying “The reason we designed our missiles with a range of 2000 km is to be able to hit our enemy the Zionist regime from a safe distance.” The Obama Administration is now talking about putting sanctions on Iran because it continues to develop ballistic missiles.  Might I remind you, the Iran deal to curtail its nuclear program was not signed by Iran.  By the way, the U.S. Navy just intercepted a load of weapons going to the Iranian backed rebels in Yemen.
  • Crash of Biblical Proportions Coming in 2016-Bo Polny
    Market cycle analyst Bo Polny says don’t bet on the U.S. dollar or the stock market to hold their value in 2016. Polny contends, “The dollar is going down with the stock market.  It did in December of 2015.  It did in August of 2015, and the dollar is falling right now again.  As soon as the stock market gets started to the downside, the dollar is going to go with it again.  So, the dollar is going to go down with the stock market with this next meltdown.  What’s going to end up happening when they hit the cycle low is what they did the last low (2009) and had QE 3.  Guess what, that’s going to mean (in the next crash) QE 4.  Then, that will mean they will be printing money like crazy.  Let’s say there is a 20% drop on the dollar, even 10%.  Everybody goes to sell the bonds.  If the 10-year is only giving 1.7% yield, if the dollar drops 10%, they are losing 8%.  If the dollar drops 20%, they are losing 18%.  So, all these countries will be losing on billions or trillions of dollars of bonds, and then you will get a fire sale on bonds. Everyone will be dumping the bonds because they will be trying to get rid of them as fast as possible.  That is what’s going to happen when they announce QE 4.”
  • China “Could Push Whole World into Fresh Economic Crisis”
    After years of big wage increases in China, the supply of cheap labor is coming to an end. The migration of rural populations to cities, which in practically no time created over 250 cities with over 2 million inhabitants, is also coming to an end. As the cost of labor has soared, the manufacturing base is now migrating to cheap-labor countries like Vietnam, leaving less work in Chinese cities for migrant laborers. With few options left, they’ve started to return to their villages. This leaves China with massive challenges, just when its debt-burdened economy can least afford them.
  • Bank Bail Ins Begin as EU Bank “Bailed In” In Austria
    Bank bail ins in the EU are here after Austria's financial markets regulator FMA imposed a hefty haircut on creditors in an Austrian bank. Creditors in the bank Heta Asset Resolution will receive less than half of their money back according to the country’s financial regulator, the FMA. Senior bondholders in the so called “bad bank” could expect to receive around €0.46 for each euro which would be paid from the realisation of assets by 2020, according to the FMA statement. It said that this had been calculated using “very conservative” assumptions. “This package of measures also ensures the equal treatment of creditors. Orderly resolution is more advantageous than insolvency proceedings,” the FMA said.
  • Silver Surges Most In 6 Months As Hedgers Cover
    The last 3 days have seen silver prices surge over 6%, testing back towards the psychologically important $16 level. Having been pressured lower after the ECB bounce, the precious metal jumped perfectly off its critical 200-day moving-average, nearing the highs of the year once again.
  • Chesapeake Forced To Pledge Entire Company As Collateral To Preserve Existing Credit Facility
    As we enter the critical spring borrowing base redetermination season, which as we previewed previously is the biggest threat to near-insolvent energy companies whose banks may, and in many cases will, decide their assets are worth far less and as a result dramtically cut their revolver availability, one of the biggest question marks was how generous would the banks of troubled gas giant Chesapeake be, whose $4 billion credit facility is one of the few things keeping the company still afloat. We got the answer earlier today when the company announced it had succeeded in maintaining its entire $4 billion borrowing base and as a result would not suffer an imminent liquidity crunch.
  • Helicopter Money “Not on the Table,” ECB Swears Furiously
    It has finally sunk in: what everyone really wants is helicopter money. Central banks, instead of transferring trillions of newly created dollars or euros or whatever to the banks should just hand them directly to the people, like dropping bank notes from a helicopter, so that these people can grab them and spend them all in one fell swoop, thereby creating sudden artificial demand, driving up inflation, and solving all economic problems of our times. Instead of creating asset price inflation, as QE had done, it would create consumer price inflation. Wages would still remain stuck, and workers would soon not be able to buy the normal things at these inflated prices, but that wouldn’t matter because now they’re getting helicopter money, and companies could increase their sales, margins, and profits simply by raising prices without having to sell a single extra item.
  • Ben Bernanke: “Helicopter Money May Be The Best Available Alternative”
    Now that the prospect of helicopter money by the ECB has so infuriated Germany, the ECB had to reach out to Schauble to “mollify” the Germans who are dreading the second coming of monetary paradrops in one century, it was only a matter of time before Citadel's most prominent employer opined. In a blog post earlier today, Brookings' blogger and the central banker who together with Alan Greenspan has been most responsible for the world's unprecedented debt pile and sad economic state, Ben Bernanke, took the podium to share his views on “helicopter money” head on.
  • Analysis: The mechanics of leaving the European Union
    Ignoring shouted questions about whether he will resign, he reprises his reaction to his shock Commons defeat over Syria in 2013. “The will of the British people is clear,” he says, “I get it and I will negotiate accordingly to implement their clear decision.” Suppose that, or something like that, happens. What next, for the government and for Parliament? How would MPs deliver the decision the British people had just voted for? The first point to make is that the process cannot easily be separated from the political mayhem that would then unfold.
  • Russia Relies on Gold to Push Reserves Back Over $380 Billion
    Whether you define gold as a barbarous relic, a pet rock, “tradition”, or “doomed”, Russia surely refers to it as a saving grace. As Russia’s foreign reserves dwindled to just under $350 billion in early 2015, many predicted Russia was going to burn through all of their reserves in the not too distant future as they dealt with a depreciating Ruble and plummeting oil revenues. However, this dire prediction did not pan out mainly due to one thing: Russia’s strategic decision to load up on as much gold over the past few years as it possibly could. As we have shown in the past, Russia has shown an insatiable desire for Gold, and as Bloomberg points out, has increased their holdings more than 12% since last July.
  • Will The Oil Price Dip Send BP plc and Royal Dutch Shell Plc Back Into Reverse?
    Oil is up 44% since Brent crude hit a low of $27 a barrel in January, to reach $38.93 at time of writing. FTSE 100-listed oil giant Royal Dutch Shell(LSE: RDSB) has rallied with it, its share price up 33% since mid-January, from a low of 1277p to today’s 1709p. BP(LSE: BP) is a more troubled beast and its share price growth has been less spectacular, rising just 5.5% from its January low of 328p to 346p today.
  • European Bank Outlook More Uncertain Than in 2009, Perol Says
    Groupe BPCE Chairman Francois Perol said the outlook for the European banking industry is more uncertain in some respects than in 2009 as negative interest rates squeeze margins and digitalization changes the model. “Chinese growth is decreasing, oil prices are down with unexpected consequences, geopolitical risk is in a lot of areas,” Perol told reporters Saturday on the sidelines of the Ambrosetti Workshop in Cernobbio, Italy. Banks also have to deal with structural changes including “digitalization, a huge change for our retail banking business, negative interest rates and a changing regulatory landscape,” he said.
  • World Bank goes big on fighting climate change
    The World Bank has announced plans to fight climate change through a new Climate Change Action Plan that it hopes will see investment in environmental projects reach $29 billion a year by 2020. In a statement on Thursday, the Bank said that, in the next five years, it planned to help countries in the developing world add 30 gigawatts of renewable energy to global energy capacity; provide “early warning systems” to 100 million people; and develop “climate-smart agriculture investment plans for at least 40 countries.” The news comes in the wake of the historic COP21 agreement reached in Paris at the end of 2015. There, 195 countries agreed to make sure global warming stayed “well below” 2 degrees Celsius and to “pursue efforts” to limit the temperature rise to 1.5 degrees Celsius. The Bank said its announcement came a fortnight before the world's leaders meet in New York to sign the Paris Agreement.
  • UK Goods Trade Gap With EU At Widest Level
    The UK's trade in goods deficit with the European Union is at its widest ever level, with a series of other indicators providing further evidence of troubles for the economy. The Office for National Statistics (ONS) reported a gap of £23.8bn between imports and exports with the EU in the three months to February. It reflected, the ONS said, a 1.3% decrease in exports and a 1.1% rise in imports during the period – a time when fierce debate began over the country's continued membership of the EU ahead of June's referendum. The economic slowdown in many world markets was also reflected in the country's total deficit in goods and services, which widened to its largest three-monthly figure since March 2008.
  • Peter Schiff: The Economy Is A Disaster
    Peter Schiff was on Tuesday's edition of PreMarket Prep, where he reiterated his bearish thesis for the market in the wake of the Federal Reserve's decision not to raise interest rates last week. Schiff wasn't convinced by the positive market talk coming out of the Fed. “I knew that it was all talk, and when Janet Yellen actually spoke she validated what I said,” Schiff said. “She basically came out and said ‘We're not raising rates and it's not because we think the economy is weak, it's because we decided that lower interest rates are appropriate.' Which is all B.S, because it's all about the economy. The economy is a disaster. I think Yellen probably realizes we're in a recession.”
  • Vermont Residents Leave State As It Becomes Riddled With High Taxes
    Democratic presidential candidate Sen. Bernie Sanders isn’t coy about his intention to spend like crazy and raise everyone’s taxes if he’s elected president. Forgetting the fact that his health care plan is a disaster for the working poor, these sentiments of taxation to solve every societal ill appears to be the governing ethos in Vermont, where the state legislature just passed millions more in tax increases.
  • Silver Jewelry Sales Strong, Reflecting Broader Demand for the White Metal
    The market for silver jewelry grew in 2015, mirroring an overall surge in demand for the white metal, according to a survey report released yesterday by the Silver Institute: “Silver jewelry sales in the United States were solid in 2015 with 60% of jewelry retailers reporting increased sales, according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS).  This marked the seventh consecutive year of growth for silver jewelry sales and confirmed that silver jewelry is an increasingly important category for many retailers.”
  • Schiff: Obama's tax inversion rules will backfire
    Economist, author and financial analyst Peter Schiff told CNBC's Rick Santelli the new tax inversion rules from the Obama administration, which ended the Allergan-Pfizer deal, could backfire. “By the government making it harder for American companies to buy foreign companies and invert, they are going to leave American companies vulnerable to being acquired by foreign companies instead,” Schiff said in a Santelli Extra interview exclusive to CNBC Pro subscribers. “And when that happens, the domestic job losses are going to be much bigger.” Apart from tax regulation, Schiff also discusses his views on inflation, gold, the Fed and Donald Trump.
  • Fed minutes: Debated rate hike in April, but several concerned
    Federal Reserve policymakers debated last month whether an interest rate hike would be needed in April though a consensus emerged that risks from a global economic slowdown warranted a cautious approach. “Many participants expressed a view that the global economic and financial situation still posed appreciable downside risks,” according to the minutes from the Fed's March 15-16 policy meeting released on Wednesday.
  • California's $15 Minimum Wage Is Going To Be Painful
    Of course, part of the basic intention of the rise in the minimum wage to $15 an hour in California is that it should be painful. Those plutocrats should be forced to disgorge all that they’ve made by exploiting the working man all these years and such pain is just wonderful. However, that’s not quite what’s going to happen as two interesting little studies show. The truth is that California is a very large and very diverse economy and there’s no evidence at all which shows that $15 an hour is the right price for labor right across it. (Of course, I argue that there shouldn’t be a minimum wage in the first place but that’s a slightly different matter.) Whatever your arguments in favor of a rise in the minimum wage there’s no way to make that one rate right for all of California.
  • Central Banks are Pushing Monetary Heroin to Addicted Economies
    We hear a lot about the role of central banks in the world’s economies. But what exactly have they been doing over the last few years, and what has the actual impact been? Central banks have the authority over the interest rates and the quantity of a nation’s currency. Their official responsibility is to regulate price stability. By law some central banks, such as the Federal Reserve, operate under a dual mandate and must also promote full employment. Central banks hold the reserve assets that support the integrity of their issued currency.
  • Venezuela to cut power use with holidays
    Venezuela’s President Nicolas Maduro has decreed that all Fridays for the next two months will be holidays, in a bid to save energy in the blackout-hit Opec country. “We’ll have long weekends,” Mr Maduro said in an hours-long appearance on state television on Wednesday night, announcing the measure as part of a 60-day plan to fight a power crunch. A severe drought, coupled with what critics say is a lack of investment and maintenance in energy infrastructure, has hit the South American nation, which depends on hydropower for 60% of its electricity.
  • Trump Unbound
    Even by The Donald’s standards his 95 minute long interview with the Washington Post was remarkable. He let loose so many stray shots as to leave the establishment press clucking in a chorus of disbelief. It undoubtedly started with the stink bomb he lobbied at the ” all is awesome” meme about the US economy and stock market.
  • The Number of People Behind on Student Loan Payments Is Staggering
    Student loan debt can haunt borrowers for decades. An increasing number of student loan borrowers are behind on their payments, creating concern that millions of Americans may never pay off their debts. About 43% of the 22 million Americans with federal student loans weren’t making payments as of Jan. 1, the Wall Street Journal reported. That’s actually a slight improvement from the same time last year, when the non-payment rate was 46%, the Department of Education found.
  • Wholesale Inventories Drop Most Since 2013; Sales Miss As Slowdown Accelerates
    There was one thing keeping US GDP growing in recent months: rising inventory. Well, no more. Moments ago the Dept of Commerce reported the latest inventory data and following major historical revisions, not only was last month's inventory print slashes from 0.3% to -0.2%, but the February Inventory number was a dramatic -0.5% drop, far below the -0.2% expected. This was the biggest sequential drop since the spring of 2013.
  • Wholesale Inventory Plunge Is Bad Sign For U.S. GDP Growth
    Wholesale inventories tumbled at their fastest rate in nearly three years, data showed, signaling first-quarter U.S. economic growth was even weaker than expected. Wholesale stockpiles fell 0.5%, the Commerce Department said Friday, the biggest drop since May 2013. Analysts had expected a 0.2% decline. Meanwhile, January was revised from a small gain to a 0.2% decline. Wholesale inventories have now fallen for five straight months as companies try to whittle down high stockpile levels. But wholesale sales have dropped for the last four months, down 0.2% in February after January’s 1.9% tumble.
  • Cash Limits Are All About Control Over You, But You Can Take Back the Power
    JP Morgan Chase Bank just fired another salvo in the “war on cash.” The bank recently capped ATM withdraws for non-Chase customers at $1,000 per day. The move came after the bank began installing new ATMs that dispense $100 bills. Some people were reportedly pulling tens of thousands of dollars out at one time, according to a report in the Wall Street Journal. A spokeswoman said the bank “felt it was prudent to set withdrawal limits on all of our ATMs.”
  • The Atlanta GDP Now estimate falls to 0.1% from +0.4%
    The Atlanta Fed updated their GDP estimate for the 1st quarter earlier today, and once again it is to the downside.  The new GDP growth estimate is 0.1% vs. 0.4% last reported on April 5.  The decline was attributed to the wholesale trade report from the US Bureau of Census. The forecast for the contribution of inventory investment to the 1st quarter to real GDP fell from -0.4% to -0.7%.
  • Puerto Rico Senate Passes Sweeping Moratorium on Paying Debt
    Puerto Rico’s Senate approved a bill calling for a moratorium on a wide range of debt payments, including general-obligation bonds, through January 2017 in the latest escalation of the Caribbean island’s fiscal crisis. The measure, passed around 2:30 a.m. local time, would allow Governor Alejandro Garcia Padilla to suspend payments on debt backed by the government, the island’s Government Development Bank and other public agencies, according to a copy of the legislation obtained by Bloomberg. That includes the Sales Tax Financing Corp., known by its Spanish acronym Cofina. A default on those obligations would be a first for Puerto Rico, which so far has only failed to pay on bonds backed by legislative appropriation and rum taxes.
  • Special Report – Puerto Rico's other crisis: impoverished pensions
    When Puerto Rico attempted to shore up its chronically underfunded public-employee pensions in 2013, Francisco del Castillo “knew grown men and women who wept.” Under the reform package, retirement ages rose. So did employee contributions. Current and future participants were transferred to less-generous defined-contribution accounts, similar to 401(k) retirement savings plans. Del Castillo, then the deputy chief of the island’s largest government-employee pension system, said members of his own staff who were on the verge of retirement suddenly faced the prospect of working seven or eight more years for reduced benefits. The law extracted “a pound of political flesh” from those, like del Castillo, who helped craft it, he said. “We wanted it to work.”
  • Puerto Rico's Development Bank on Brink as Debt Gambit Goes Bad
    Puerto Rico’s Government Development Bank, which was set up after the Great Depression to chart a course out of poverty, is on the verge of a collapse that would deepen the Caribbean island’s $70 billion debt crisis. The lender was designed to promote business investment with a long-term horizon, but in recent years politicians turned it into a piggy-bank that lent to the government and its agencies, helping keep them afloat as the island’s economy shrunk. Now it’s rapidly running out of cash and likely to default on a $422 million debt payment due in May — raising the risk that it may be pushed into receivership or broken up.
  • Puerto Rico Investors Sue to Stop Development Bank Payments
    Hedge funds holding debt in Puerto Rico’s Government Development Bank sued to stop the island’s key fiscal entity from making payments to local government agencies as it faces a growing cash shortage and the prospect of insolvency. The funds, which include affiliates of Brigade Capital Management, Claren Road Asset Management and Solus Alternative Asset Management, accused the bank in a lawsuit filed Monday in San Juan federal court of seeking to “prop up” local agencies at the expense of other creditors. The situation may imperil restructuring efforts for the bank, which its regulator says is facing a cash shortfall of as much as $1.3 billion in June. Puerto Rico, which is negotiating with creditors to reduce a $70 billion debt load, has “had every incentive to cannibalize” the bank to “meet its own liquidity needs through preferential transfers even if such transfers make it impossible to restructure” the bank, the hedge funds said in the complaint. “The unfortunate depositors and bondholders left behind in GDB will be left to bear amplified losses.”
  • Kenya's Chase Bank placed under receivership by CBK
    A retail bank in Kenya has been placed under receivership after running into financial difficulties. Panic withdrawals on Wednesday, caused by “inaccurate” rumours on social media, led to a run on Chase Bank, said the Central Bank of Kenya (CBK). Its branches were shut on Thursday. The bank is the third to be placed under the CBK's control in the past year. Chase had recently released two conflicting financial statements, a BBC reporter says. A subsequent audit showed it had hidden loans to its directors, adds the BBC's Ferdinand Omondi in the capital, Nairobi. In a statement, the CBK said it would appoint a team to run the bank.
  • Chase ATMs to Limit Withdrawals for Noncustomers to $1,000 a Day
    J.P. Morgan Chase & Co. capped ATM withdrawals at $1,000 per card daily for noncustomers—cracking down as people started pulling out tens of thousands of dollars at a time when the bank was modifying its machines to dispense hundred-dollar bills with no limit. The bank said there doesn’t appear to be fraud involved. But partly due to heightened regulatory scrutiny, banks are paying more attention to large cash transfers that could be a sign of money laundering or other types of shady activity. Typically, the card-issuing bank sets withdrawal limits, not the bank owning the ATM.
  • EU referendum: IMF’s Christine Lagarde warns of dangers of a ‘Brexit’
    Christine Lagarde, International Monetary Fund Managing Director, has put June’s EU referendum among the threats to the global economy. A vote to leave the EU is “clearly part of the uncertainty we have at the moment” Lagarde said in an interview with Bloomberg Television in Frankfurt, noting the impact it may have on London’s financial sector. Her comments came on the same say day she has urged governments to pursue more growth-friendly policies in a speech at Frankfurt's Goethe University, Germany. Lagarde warned that the recovery from the 2007-2009 global financial crisis “remains too slow, too fragile and risks to its durability is increasing”. She said that the global outlook has weakened further in the past six months, suggesting the IMD may be revising its growth outlook.
  • Think the Market Will Reach a New High? Here’s Why We Don’t – Just look at the environment we’re in.
    Stocks are once again rallying after another “mini crash” at the start of the year. We’ve had three of these things since October 2014 without much to show for it. Stocks have basically gone nowhere for a year and a half. After the first crash in late 2014, stocks were able to eke out a new high into May of last year. But since then, stocks have failed to make new highs despite strong attempts like this one. Ten months without a new high.
  • Gas Pipeline Uses 160 Eminent Domain Suits To Get People’s Property In 3 States
    Eminent domain is a tough pill to swallow for Americans who take their property rights very seriously, and the aggressive moves by Sabal Trail to seize property for a natural gas pipeline running through three southern states is turning into a drama of immense proportions. Sabal Trail, the joint venture planning to build a 500-mile natural gas pipeline through Georgia, Alabama, and Florida, has gone to court in order to secure the right of way through the land where the pipeline should pass. So far, Sabal Trail has filed 160 eminent domain suits and more are expected, according to a report by the Orlando Sentinel. The company is desperately trying to get the right of way through 346 more properties, though it says it has already secured the agreement of 1,248 landowners in the area along the route.
  • Robert Kiyosaki And Harry Dent Warn That Financial Armageddon Is Imminent
    Financial experts Robert Kiyosaki and Harry Dent are both warning that the next major economic crash is in our very near future.  Dent is projecting that the Dow will fall to “5,500 to 6,000 by late 2017″, and Kiyosaki actually originally projected that a great crash was coming in 2016 all the way back in 2002.  Of course we don’t exactly have to wait for things to get bad.  The truth is that things are not really very good at the moment by any stretch of the imagination.  Approximately one-third of all Americans don’t make enough money to even cover the basic necessities, 23 percent of adults in their prime working years are not employed, and corporate debt defaults have exploded to the highest level that we have seen since the last financial crisis.  But if Kiyosaki and Dent are correct, economic conditions in this country will soon get much, much worse than this.
  • PanamaPapers: India to probe hundreds for possible tax evasion
    Even as many governments begin probing financial wrong-doing by those on the “Panama Papers” leak list, Indian Prime Minister Narendra Modi on Monday also ordered a multi-agency team to investigate the expose. 500 Indians, including top Indian film stars, business honchos and politicians, have been named in the list for alleged offshore holdings. According to an Indian Central Bank notification, those Indians setting up or buying foreign companies before 2013 are in ‘technical’ violation of Indian laws. Indian Prime Minister Modi has vowed to take action against all unlawful accounts held abroad.
  • The EU Has Bigger Trouble than Brexit alone
    The referendum in the Netherlands on April 6th is going to cause a lot of trouble, possibly axing the strong Dutch commitment to the European project. The plebiscite is about the Association Treaty between EU and Ukraine, into which the EU inserted some curious clauses about military cooperation and such. It is not a trading treaty per se, since those are the sole responsibility of the European Commission and would not require ratification by the member states. Another fact that points toward bigger issues at stake is the last-minute involvement of the US government that recently urged Dutch voters to vote YES.
  • EL-ERIAN: Here are 10 things you should be closely watching in the global economy
    Roller-coaster views about global growth were important contributors to the first quarter's dramatic “V”-shaped stock market performance — from a scare early in the year that weakness in China and elsewhere could tip the US into recession to a more comforting assessment underpinned by friendly central banks and, in the case of the US, strong job creation. Disappointing growth is also the common element behind numerous improbable developments that have become reality, be they negative central-bank policy rates in Europe and Japan, almost one-third of government debt globally trading at negative yields, or the influence of antiestablishment political movements on both sides of the Atlantic.
  • The Path to the Final Crisis
    Our reader L from Mumbai has mailed us a number of questions about the negative interest rate regime and its possible consequences. Since these questions are probably of general interest, we have decided to reply to them in this post. Before we get to the questions, a few general remarks: negative interest rates could not exist in an unhampered free market. They are an entirely artificial result of central bank intervention. The so-called natural interest rate is actually a non-monetary phenomenon – it simply reflects time preferences. Time preferences are an inviolable category of human action and are always positive.
  • China’s Gold Intent – ICBC Bank Reclassified as an LBMA Market Maker
    ICBC Standard Bank, China and the world's largest bank, has been reclassified as a spot Market Making Member of the London Bullion Market Association (LBMA) with effect from today according to a note posted on the LBMA website last night at 2100 GMT.
  • ‘Everything Is Being Sold' – Smart Money Selling Soars, Now In 10th Straight Week
    “Still No Confidence In The Rally” – that's the title of the latest weekly BofA report looking at the buying and selling by its smart money clients (institutional clients, private clients and hedge funds), which finds that not only were sales by this group of clients last week the largest since September, and the fifth-largest in our data history, but this was the 10th consecutive week of selling as absolutely nobody believed this fakest of fake “rebounds” in recent history.
  • 19 Facts That Prove Things In America Are Worse Than They Were Six Months Ago 
    Has the U.S. economy gotten better over the past six months or has it gotten worse?  In this article, you will find solid proof that the U.S. economy has continued to get worse over the past six months.  Unfortunately, most people seem to think that since the stock market has rebounded significantly in recent weeks that everything must be okay, but of course that is not true at all.  If you look at a chart of the Dow, a very ominous head and shoulders pattern is forming, and all of the economic fundamentals are screaming that big trouble is ahead.  When Donald Trump told the Washington Post that we are heading for a “very massive recession“, he wasn’t just making stuff up.  We are already seeing lots of things happen that never take place outside of a recession, and the U.S. economy has already been sliding downhill fairly rapidly over the past several months.  With all that being said, the following are 19 facts that prove things in America are worse than they were six months ago…

Precious Metals Are The Only Lifeboat! I have persistently WARNED you what was happening in the gold market and why you needed to convert your paper assets to physical gold and silver by the middle of September 2015. You need to hedge against the financial instability with physical gold and silver. Call the experts to help you convert your IRA or 401k into Gold, Silver and Other Precious Metals. Call GoldCo NOW before it's too late! Call Toll-Free 1-877-414-1385.

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Latest News Articles – April 7, 2016

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Lindsey Williams - Latest News Articles

Latest News From April 1, 2016 to April 7, 2016:

  • U.S. Oil Rig Count Down by 10
    The U.S. oil-rig count fell by 10 to 362 in the latest week, according to Baker Hughes Inc., maintaining a trend of declines. The number of U.S. oil-drilling rigs, viewed as a proxy for activity in the sector, has fallen sharply since oil prices began to fall. But it hasn’t fallen enough to relieve the global glut of crude. There are now about 72% fewer rigs of all kinds since a peak of 1,609 in October 2014.
  • Automakers post disappointing U.S. sales, still see strong 2016
    General Motors Co, Fiat Chrysler Automobiles  and other major automakers reported weaker-than-expected U.S. sales for March, hurt by declining demand for sedans and light dealer traffic during the Easter weekend. Sales for the month rose 3 percent to nearly 1.6 million vehicles, or 16.57 million vehicles on an annualized basis, according to industry analyst Autodata Corp. That was well below expectations of a rise of about 7 percent and annualized estimates that ranged from 17 million to 17.5 million by analysts and economists polled by Thomson Reuters.
  • Where The March Jobs Were: The Minimum Wage Deluge Continues
    In March the US economy added a healthy 215K jobs, beating expectations and more importantly, pushing the average hourly earnings up by 0.3% on the month. Which, however, is curious because a cursory look at the job additions in the month reveals that nearly two-third of all jobs, and the three top categories of all job additions, were once again all minimum wages jobs.
  • Gold Rush by Russia Makes Up for Billions Lost in Currency Rout
    Here’s why Governor Elvira Nabiullina is in no haste to resume foreign-currency purchases after an eight-month pause: gold’s biggest quarterly surge since 1986 has all but erased losses the Bank of Russia suffered by mounting a rescue of the ruble more than a year ago. While the ruble’s 9 percent rally this year has raised the prospects that the central bank will start buying currency again, policy makers have instead used 13 months of gold purchases to take reserves over $380 billion for the first time since January 2015. The central bank will wait for the ruble to gain more than 12 percent to 60 against the dollar before it steps back into the foreign-exchange market, according to a Bloomberg survey of economists.
  • Part-timers might account for labor-force surge
    The number of able-bodied Americans entering the labor force has surged since last fall. But in a marked change from earlier in the recovery, more of them are finding jobs right away instead of just looking for work. What’s going on? It’s hard to say for sure, but circumstantial evidence in the latest U.S. jobs report suggests many of these newly employed workers have found part-time work with mediocre pay. The participation rate hit a two-year high of 63% in March, climbing from a 38-year low of 62.4% in September, the government said Friday. A person is considered part of the labor force if he finds or job or is actively searching for one.
  • Meet the angry American voter
    The angry primary voter is the election year manifestation of a 25-year trend gnawing away at American self-confidence. Call it one America, two economies. The S&P 500 is up more than 200% over the past seven years. Home prices rose 11% last year, and a quarter of housing markets are showing record high home prices. Millions of jobs have been added and the unemployment rate is 4.9%, approaching a level many economists consider full employment.
  • Negative Yields, Opportunity Cost and Gold
    Last week, I published an article on the causes and consequences of negative interest rates. In it, I talked briefly about how negative yields hold significant implications for gold as an asset class. In this followup article, I will explain why that is.
  • U.S. factory data signal further slowdown in GDP growth
    New orders for U.S. factory goods fell in February and business spending on capital goods was much weaker than initially thought, the latest indications that economic growth slowed further in the first quarter. The Commerce Department said on Monday new orders for manufactured goods declined 1.7 per cent as demand fell broadly, reversing January’s downwardly revised 1.2 per cent increase. Orders have declined in 14 of the last 19 months. They were previously reported to have increased 1.6 per cent in January.
  • JOHN McAFEE: A time bomb is hidden beneath the Panama Papers
    John McAfee is running for US president as a member of the Libertarian Party. This is an op-ed he wrote and gave us permission to run. The hack of Mossack Fonseca, in terms of the certain fallout that will affect many of the wealthiest and most prominent people on the planet, is by far the largest and most damaging cyberattack on record. I am just one of more than 200,000 people to have downloaded the Panama Papers, a record for hacked documents. It was a gold mine.
  • Stunning Video the world was never supposed to see…
    Pastor Williams shared this video, he has said ‘Every American must see this'. This video is a must watch. US Admiral (Ret) James “Ace” Lyons tells what Islam is like.
  • Invitation by Pastor Lindsey Williams – From DVD – Elite Plans For 2016
    This is an invitation by Pastor Lindsey Williams taken from the DVD ‘Elite Plans For 2016'. Lindsey Williams, an ordained Baptist minister went to Alaska in 1970 as a missionary. For three years Pastor Lindsey Williams had the opportunity to sit, live and rub shoulders with the most powerful, controlling and manipulative men on the face of this planet.
  • Donald Trump Is Starting To Sound Just Like The Economic Collapse Blog (And That Is A Good Thing)
    Guess what Donald Trump is saying now?  Last week, I discussed how Robert Kiyosaki and Harry Dent are warning that a major crisis is inevitable, but I didn’t expect Donald Trump to come out and say essentially the exact same thing.  On Saturday, the Washington Post released a stunning interview with Donald Trump in which he boldly declared that we heading for a “very massive recession”.  He also warned that we are currently in “a financial bubble” and that “it’s a terrible time right now” to be investing in stocks.  These are things that you may be accustomed to hearing on The Economic Collapse Blog, but to hear them from the frontrunner for the Republican nomination is another thing altogether.
  • Shots Fired: Wikileaks Accuses Panama Papers' Leaker Of Being “Soros-Funded, Soft-Power Tax Dodge”
    Earlier today, for the first time we got a glimpse into some of the American names allegedly contained in the “Panama Papers”, largest ever leak. “Some”, not all, and “allegedly” because as we said yesterday, “one can't help but wonder: why not do a Wikileaks type data dump, one which reveals if not all the 2.6 terabytes of data due to security concerns, then at least the identities of these 441 US-based clients. After all, with the rest of the world has already been extensively shamed, it's only fair to open US books as well.” The exact same question appeared in an interview conducted between Wired magazine and the director of the organization that released the Panama Papers, the International Consortium of Investigative Journalists, or ICIJ, Gerard Ryle.
  • Trump: America is headed for a ‘very massive recession’
    Donald Trump said in an interview that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it's a terrible time right now” to invest in the stock market, embracing a distinctly gloomy view of the economy that counters mainstream economic forecasts. The New York billionaire dismissed concern that his comments – which are exceedingly unusual, if not unprecedented, for a major party front-runner – could potentially affect financial markets. “I know the Wall Street people probably better than anybody knows them,” said Trump, who has misfired on such predictions in the past. “I don't need them.” Trump's go-it-alone instincts were a consistent refrain – “I'm the Lone Ranger,” he said at one point – during a 96-minute interview Thursday in which he talked candidly about his aggressive style of campaigning and offered new details about what he would do as president.
  • ISM New York Drops To September Lows As All Components Decline; Employment Plunges
    While last week's Chicago's PMI staged a strong bounce from its recent contraction and back into expansion, New York did not. ISM New York just printed at 50.4, just barely above the contraction point, and the lowest headline print since mid 2015. The extremely noisy time series continues to swing, this time lower, with every single underlying component deteriorating in the month of March.
  • Is Trump's “Recession Warning” Really All Wrong?
    Over the weekend, Donald Trump, in an interview with the Washington Post, stated that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market. Of course, such a distinctly gloomy view of the economy runs counter to the more mainstream consensus of economic outlooks as witnessed by some of the immediate rebuttals.
  • Trade deficit balloons in February
    The US trade deficit widened to $47.1 billion in February, the Commerce Department said Tuesday. Economists had estimated that the excess of imports over exports — or the trade deficit — increased to $46.2 from a revised, expanded print of $45.9 billion in the prior month. “So far this quarter imports have rebounded more than exports, which is why we expect trade to subtract from Q1 GDP growth,” said BNP Paribas' Laura Rosner in a note.
  • Employment Numbers an April Snow Job
    Donald Trump managed to shove his way into the spotlight again last week, claiming the US is heading for “a massive recession.” Unsurprisingly, the mainstream media scoffed at Trump’s assertion, pointing to the “great jobs report” that came out Friday.
  • Pfizer Vs. Obama: The Treasury Tries To Stop Pharma's Tax Dodge
    Most experts in corporate taxes thought there was little President Barack Obama could do to force Pfizer PFE +5.01%, the largest drug company in the U.S., from moving its corporate address to Dublin, Ireland, in order to escape paying American taxes. Yesterday evening, Jack Lew, Obama’s secretary of the treasury, called Pfizer’s bluff, instituting new rules to make the move as difficult as possible. The punch hit, and investors are reeling. Now the move could intensify an election-year battle over what it means for companies to be American, and the fairness of the U.S. corporate tax code.
  • China's yuan set for biggest quarterly gain since Sept 2014
    China's yuan is poised for its biggest quarterly gain since September 2014, underpinned by firmer central bank guidance as the country's financial markets continue to stabilise and the dollar loses momentum. Federal Reserve Chair Janet Yellen's cautious view on U.S. rate hikes this week, which dampened views of other Fed colleagues suggesting another increase was imminent, continued to take a toll on the greenback on Thursday.
  • Jobless Claims Surge Most In 2 Years As Challenger Warns Of “Significant” Jump In Retail, Computer Layoffs
    With both ISM Manufacturing and Services employment indices collapsing, endless headlines of layoffs, Challenger-Grey noting Q1 as the worst since 2009, and NFIB small business hiring weak, it is no surprise that initial jobless claims is finally waking up. For the 3rd week in a row – the longest streak since July 2015. The last 3 weeks have seen a 9.1% surge in jobless claims – the biggest such rise since April 2014.
  • Russia on a Gold Buying Spree
    The Russians have launched into a gold buying spree. Based on recently released International Monetary Fund numbers reported at Mining.com., the Russian central bank ranked as the world’s leading gold buyer in February, adding 356,000 ounces to its reserves.
  • Gold Soars 16% In Q1 – Best Start To A Year In 42 Years
    Gold's 16.1% surge in Q1 2016 ias the best start to a year since 1974. Overall, this is the best quarter since Q3 1986 and is the best performing major commodity of the year. Gold rallied this year as it cemented its status as a store of value amid financial market turbulence and concern about the global economy, which led to speculation that the Federal Reserve would pause on tightening monetary policy in the U.S. Having seen BlackRock's gold ETF halted due to inability to meet physical demand, it appears pet rocks and barbarous relics are ‘worth' something after all.
  • NY Senate OKs Budget Bill To Boost State Minimum Wage To $15
    The Republican-controlled chamber voted 61-1 for the final bill after working through the night to pass other parts of the $156 billion spending plan for the fiscal year that began Friday. “We knew we could lift millions out of poverty if we just stayed focused,” said Sen. Andrea Stewart-Cousins, leader of the Senate’s Democratic minority. “It’s a good day, even if it is a very, very long day.” The Democrat-controlled Assembly, which adjourned early Friday, was set to meet following Friday afternoon briefings to begin debate on the wage bill.
  • Dollar logs worst quarter since 2010; buck hits 5-month low vs. euro
    The dollar logged its worst quarterly performance in years as the Federal Reserve slowed the expected pace of interest rate hikes, citing worries about the potential domestic impact of anemic growth abroad. As measured by one gauge, the buck is about to register its worst performance during the first quarter of a year since 2008, when the index fell 6.4%, and its worst overall calendar-quarter performance since Sept. 30, 2010, when the gauge dropped about 8.5%.
  • “The Cat Is Out Of The Bag” – In Interview Mossack Fonseca Founders Admit It's Over… To Rothschild's Delight
    Days before the ICIJ released this weekend's trove of “Panama Papers” international tax haven data involving Panamaian law firm Mossack Fonseca, Bloomberg conducted an interview on March 29 with the two founding lawyers. In it, it found that even before the full leak was about to be made semi-public (any of the at least 441 US clients are still to be disclosed), the Panama law firm knew that the game was already largely over.
  • Here Are Some Of The Americans In The “Panama Papers”
    With media attention squarely falling on the foreigners exposed by the Panama Papers offshore tax haven scandal, everyone has been asking for more information on who are the Americans involved in this biggest data leak in history. After all, as we showed, Mossack Fonseca had over 400 American clients. But who are they? Today, courtesy of McClatchy, we get some answers: while there are no politicians of note are in files but plenty of others. Among them: Retirees, scammers, and tax evaders, all of whom found a use for secrecy of offshore companies. As the news paper reports, “the passports of at least 200 Americans show up in this week’s massive leak of secret data on secretive offshore shell companies.”
  • 2007 All Over Again: “We Are Outsourcing Our Monetary Policy”
    Last night we noted the odd “messaging” that was apparent in The PBOC's Yuan fix shifts into and after The Fed and Janet Yellen spoke… Almost as if The Fed had “outsourced its monetary policy” to China once again. But as DollarCollapse.com's John Rubino notes, it appears Janet Yellen has instead outsoured US monetary policy to the financial markets…
  • Waiters And Bartenders Rise To Record, As Manufacturing Workers Drop Most Since 2009
    On the surface, the March jobs reported was better than expected… except for manufacturing workers. As shown in the chart below, in the past month, a disturbing 29,000 manufacturing jobs were lost. This was the single biggest monthly drop in the series going back to December 2009.
  • Global Data: A New Scapegoat for the Federal Reserve
    During March 16th’s FOMC meeting, the Fed announced that it would leave interest rates unchanged and scaled back its December projections for higher rates in 2016, 2017, and 2018. The Fed’s backtracking comes just three months after raising interest rates 25 basis points, its first hike since June 2006.
  • GAO Has Been Telling Congress that Financial Regulation Is in Disarray for 20 Years
    Who could blame the researchers at the Government Accountability Office (GAO) for thinking that responding to Congressional requests for studies on how to repair the nation’s ineffective maze of financial regulation is an exercise in futility. GAO has been spending boatloads of taxpayer money for the past two decades to define the problems for Congress as our legislative branch has not only failed to take meaningful corrective measures but actually made the system exponentially worse through the repeal of the Glass-Steagall Act in 1999.
  • EU admits plot for FEDERAL superstate and describes Brussels attacks as an ‘opportunity'
    Gianni Pitella, leader of the socialist group in the European Parliament, claimed the attack's on the Belgian capital's metro system and airport showed the need for even closer intergration of the 28 member nations of the bloc. He also called for a “European Intelligence Agency” to be set up to strengthen the EU's defences against extremists. Critics warned that his outburst laid bare the ambitions for an European super-state held by many EU supporters and highlighted the long-term dangers of Britain staying tied to Brussels. Mr Pitella's remarks came in an interview with the EU news website Euractiv.
  • Big Brother Rising: US Turns Into Full-Blown ‘Surveillance State'
    The recent revelation that the NSA has plans to share intercepted private communications with other domestic intelligence agencies has caused a massive backlash, with many viewing the shift as “unconstitutional.” Two experts join Radio Sputnik’s Brian Becker to discuss if the policy is just a “giant fishing expedition for law enforcement.”
  • This is how World War III starts—it will be financial
    In his History of the Peloponnesian War, ancient Greek historian Thucydides told us the tale of a dominant regional power (Sparta) that felt threatened by the rise of a competing power (Athens). Sparta felt so threatened, in fact, that all the moves they made to keep the Athenian rise in check eventually escalated the power struggle into an all out war. Modern political scientists call this the Thucydides Trap.
  • Trend Forecaster’s Dire Warning: Massive Crash Will Wipe 12,000 Points Off Dow Jones By Late 2017
    Trend forecaster and demographic researcher Harry Dent says we are in a massive bubble. And as he explains in his latest interview with Future Money Trends, central banks around the world continue to fuel this bubble with unlimited fiat money printing. The end result according to Dent? The biggest bubble burst in history… and it’s coming soon.
  • Corporate Media Gatekeepers Protect Western 1% From Panama Leak
    Whoever leaked the Mossack Fonseca papers appears motivated by a genuine desire to expose the system that enables the ultra wealthy to hide their massive stashes, often corruptly obtained and all involved in tax avoidance. These Panamanian lawyers hide the wealth of a significant proportion of the 1%, and the massive leak of their documents ought to be a wonderful thing. Unfortunately the leaker has made the dreadful mistake of turning to the western corporate media to publicise the results. In consequence the first major story, published today by the Guardian, is all about Vladimir Putin and a cellist on the fiddle. As it happens I believe the story and have no doubt Putin is bent.
  • Panama Papers: Revelations show sheer scale of UK links to off-shore tax havens
    The UK government’s pledge to crack down on off-shore tax schemes and money laundering has been laid bare after the majority of firms implicated in a huge leak were shown to be registered in British-administered tax havens. Dubbed the Panama Papers, the unprecedented release maps how a global elite of one-percenters has hidden assets, dodged sanctions and evaded taxes over the last 40 years. More than half of the 300,000 firms, believed to have used a single, secretive Panama-based law firm, are registered in British-administered tax havens. Second only to Hong Kong, 1,900 British firms, including banks, law firms, and company incorporators, feature as “intermediaries” between Mossack Fonesca and its clients.
  • Putin and the ‘Dirty Dozen': 11million leaked documents reveal how TWELVE world leaders – plus Russian leader's inner circle, British politicians and Lords – hide their millions in tax havens
    The biggest financial data leak in history has revealed how Vladimir Putin's inner circle and a ‘dirty dozen' list of world leaders are using offshore tax havens to hide their wealth. A host of celebrities, sports stars, British politicians and the global rich are all implicated in the so-called Panama Papers – a leak of 11million files which contain more data than the amount stolen by former CIA contractor Edward Snowden in 2013. Documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca, and show how the company has allegedly helped clients launder money, dodge sanctions and evade tax. Megastars Jackie Chan and Lionel Messi are among the big names accused of using Mossack Fonseca to invest their millions offshore. And the Panama Papers also reveal that the £26million stolen during the Brink's Mat robbery in 1983 may have been channelled into an offshore company set up by the controversial law firm.
  • Panama Papers: David Cameron's father ‘ran offshore fund that paid zero UK tax for 30 years'
    David Cameron’s father was allegedly involved in hiring what has been called a small army of Bahamas residents – including a part-time bishop – to sign paperwork for an offshore fund in what may have been an effort to avoid paying UK tax.
  • ‘Panama Papers' leak of 11m documents reveals how the super rich hide their money
    The largest ever leak of documents has revealed how an offshore law firm has helped its clients to hide their money in tax havens. Dubbed the “Panama Papers”, the 11 million confidential documents from Mossack Fonseca show how the Panama-based firm has used shell companies to benefit the world’s rich and powerful. Some clients have laundered money, dodged sanctions and evaded tax.
  • Corporate Debt Defaults Explode To Catastrophic Levels Not Seen Since The Last Financial Crisis
    If a new financial crisis had already begun, we would expect to see corporate debt defaults skyrocket, and that is precisely what is happening.  As you will see below, corporate defaults are currently at the highest level that we have seen since 2009.  A wave of bankruptcies is sweeping the energy industry, but it isn’t just the energy industry that is in trouble.  In fact, the average credit rating for U.S. corporations is now lower than it was at any point during the last recession.  This is yet another sign that we are in the early chapters of a major league economic crisis.  Yesterday I talked about how 23.2 percent of all Americans in their prime working years do not have a job right now, but today I am going to focus on the employers.  Big corporate giants all over America are in deep, deep financial trouble, and this is going to result in a tremendous wave of layoffs in the coming months.
  • The New Part-Time Job: “Get Paid $15 An Hour To Protest At The Trump Rally”
    For those wondering why Trump rallies tend to devolve to pugilistic matches, where even belligerent 15-year-old protesting (or perhaps “provocative” is a better word) girls end up getting pepper sprayed much to the media's fascination, the answer is Craig's List ads such as the one below, in which allegedly “I'm feelin' the Bern”-affiliated organizers provide paid positions for protesters at Trump rallies, and which provide not only shuttle buses, parking, and signs (as well as time cards) but also hand out $15/hour (as a “part-time employment”) for said protest activity “due to the economic inequality.”
  • Japan Goes Neocon – Dumps Antiwar Constitution
    Last September the Japanese Diet (parliament) passed legislation “reinterpreting” the nearly 70 year old strictly antiwar constitution to allow for the Japanese military to take part in overseas military operations not directly tied to the defense of Japan. Tens of thousands of Japanese took to the streets this week to protest the enactment of this new law. Will Japanese Prime Minister Shinzo Abe's desire to be part of Washington's “pivot to Asia” lead to a fundamental change in Japan's position in the region?
  • Does The United States Still Exist? — Paul Craig Roberts
    To answer the question that is the title, we have to know of what the US consists. Is it an ethnic group, a collection of buildings and resources, a land mass with boundaries, or is it the Constitution. Clearly what differentiates the US from other countries is the US Constitution. The Constitution defines us as a people. Without the Constitution we would be a different country. Therefore, to lose the Constitution is to lose the country. Does the Constitution still exist? Let us examine the document and come to a conclusion.
  • Bernanke on the Fed’s Next Move
    When it comes to anticipating Federal Reserve policy, there’s no better place to turn than former Fed Chair Ben Bernanke. No longer bound by an office, Mr. Bernanke is now free to write about monetary policy as an outsider. In a recent two-part post, the former Fed Chair took some time to explain what tools the Fed has left, and where they might turn in the case of another economic downturn. Why is this important? Because many believe the Fed’s hands are now tied as a result of short-term rates being near zero, and the Fed’s balance sheet sitting at over $4 trillion.
  • CITI: The ‘Uber moment' for banks is coming — and more than a million people could lose their jobs
    Banks are quickly approaching their “automation tipping point,” and they could soon reduce headcount by as much as 30%. That's according to a new Citi Global Perspectives & Solutions (GPS) report on how financial technology is disrupting banks. “Banks' Uber moment will mean a disintermediation of bank branches rather than the banks themselves,” the report said.
  • Deflation Welcome! Lower Third of Population Goes Deeper in Debt, Cannot Afford Any Price Increases
    A new PEW study on Household Incomes and Expenditures goes a long ways towards explaining why economists who expected a big jump in consumer spending based on falling gasoline prices were dead wrong. The study shows that although expenditures recovered from the downturn, income did not. Also, low-income families spent a far greater share of their income on core needs, such as housing, transportation, and food, than did upper-income families. Households in the lower third spent 40 percent of their income on housing, while renters in that third spent nearly half of their income on housing, as of 2014.
  • The Eurogroup Made Simple
    The Eurozone is the largest and most important macro-economy in the world. And yet, this gigantic macro-economy features only one institution that has legal status: the European Central Bank, whose charter specifies what powers the Frankfurt-based institution has in its pursuit of a single objective: price stability. Which leaves the question begging: “What about economic goals, beyond price stability, like development, investment, unemployment, poverty, internal imbalances, trade, productivity?” “Which EU body decides the Eurozone’s policies on these?”
  • 7 Million at Risk from Man-made Quakes
    Interesting Vox article on natural and manmade earthquakes my fellow Vet and cohort in writing Mark Jamison sent me. This year for the first time ever the USGS is including a map of areas in the US which may be prone to human-induced earthquakes” in addition to areas which are prone to natural earthquakes.
  • “Spike in Defaults”: Standard & Poor’s Gets Gloomy, Blames Fed
    Credit rating agencies, such as Standard & Poor’s, are not known for early warnings. They’re mired in conflicts of interest and reluctant to cut ratings for fear of losing clients. When they finally do warn, it’s late and it’s feeble, and the problem is already here and it’s big. So Standard & Poor’s, via a report by S&P Capital IQ, just warned about US corporate borrowers’ average credit rating, which at “BB,” and thus in junk territory, hit a record low, even “below the average we recorded in the aftermath of the 2008-2009 credit crisis.”
  • IBM Laying Off 1000 Workers In Germany
    In recent weeks, the stock of IBM has staged a dramatic rebound surging from a February 11 low of $118 to $150 today, on what we previously assumed had to be another long-overdue bout of stock buybacks. However, for that to make sense, the company – already at risk of being downgraded if it did not take further cost-cutting measures to offset the additional debt interest expense – would need to engage in another round of mass layoffs. This is precisely what happened moments ago when Germany press reported that Big Blue is cutting some 1000 jobs in Germany.
  • U.S. Home Prices Are 14% Overvalued According To Bank of America
    There has been an odd shift when it comes to US sentiment toward home ownership: while in the past, the higher home prices rose the greater the demand was for housing (leading ultimately to the housing debt bubble of 2006), this time around we are getting increasingly more frequent indications of just the opposite. Some have started to notice: as we noted one week ago, in its traditionally cheerful assessment of the US housing market, the NAR's Larry Yun snuck in an unexpected warning.
  • First Ocean Freight Rates Collapse to “Zero,” China Freight Index Plunges to Record Low, Bailouts Loom
    The amount it costs to ship containers from China to ports around the world has plunged to historic lows. As container carriers are sinking deeper into trouble, whipped by lackluster global demand and rampant oversupply of container ships, they’re escalating a brutal price war with absurd consequences.
  • This Shows Financial Reality Has No Place in Today’s Markets
    The shares of OHL Mexico, the Mexican subsidiary of Spanish construction behemoth OHL, soared over 10% to 26.72 pesos on Monday morning. It was the stock’s biggest climb in over 8 months. The reason for the market’s new-found enthusiasm for the shares was somewhat counter intuitive: the company had just announced that it had been hit by the biggest fine ever imposed by Mexico’s securities authority, the CNBV. The company had been penalized for irregular accounting practices and was forced to pay 71.7 million pesos in damages — a $4-million slap on the wrist.
  • Peter Boockvar Warns Western Central Planners Are In Now Deep Trouble
    Outside of another round of Pavlov’s (Yellen’s) panting dog (markets) getting more food, a few things were firmly established yesterday. Firstly, it really doesn’t matter what any regional Fed President says, especially those that don’t vote as Yellen is clearly the boss and what she wants is what she’ll get…
  • Solid Sale Of 7 Year Paper Ends Streak Of Poor Treasury Auctions
    Following two disappointing auctions earlier this week when first the 2Y and then the 5Y auctions either demonstrated a substantial drop off in bid-side interest or priced wildly through the when issued, we said to await today's 7Y auction for the true picture of demand for primary paper, as the first auction took place when Europe was out for Easter vacation, and the second one took place just as Yellen speaking at the Economic Club yesterday.
  • Attention President Obama: One Third Of U.S. Households Can No Longer Afford Food, Rent And Transportation
    While the Fed has long been focusing on the revenue part of the household income statement (which unfortunately has not been rising nearly fast enough to stimulate benign inflation in the form of nominal wages rising at the Fed's preferred clip of 3.5% or higher), one largely ignored aspect of said balance sheet has been the expense side: after all, for any money to be left over and saved, income has to surpass expenses. However, according to a striking new Pew study while household spending has returned to pre-recession levels (the average household spent $36,800 in 2014) incomes have not.
  • Doug Casey and the War on Cash: “We Are Truly on the Edge of a Precipice” 
    Recently, my friend and colleague Louis James, editor of International Speculator, sat down with Doug Casey to discuss the ongoing “War on Cash.” Doug reveals what people looking to protect their money should do. As the War on Cash has gone into overdrive lately, this is a timely discussion that you’ll find below.
  • How Have Hedge Funds Been Affected By Oil Prices?
    After suffering large losses in 2014, trying to find a bottom in crude oil, the hedge fund industry wizened up: In 2015, it reduced its weightage to the energy sector to the lowest levels since 2008, saving themselves from profound losses when crude hit new 12-year lows—levels not seen since 2004. It was a short-lived euphoria, however, as most missed the stellar run in crude from the lows and are scrambling to enter after the rebound.
  • Job Growth Doesn’t Mean We’re Getting Richer
    In response to recent claims by the Obama administration and others that “millions of jobs” have recently been created, I examined the data here at mises.org to see if the claims were true. It turns out that job growth since the 2008 recession has actually been quite weak, and hardly something to boast about. Nevertheless, our conclusions from these analyses tend to rest on the idea that job growth is synonymous with gains in wealth and economic prosperity. But is that a good assumption? In an unhampered market, the answer would be no, for several reasons.
  • Greece Demands Explanation From IMF Over Leaked Transcript
    Greek politicians wasted no time in seeking a response from the IMF over the leaked transcript released earlier today by Wikileaks suggesting the IMF may threaten to pull out of the country's bailout as a tactic to force European lenders to more offer debt relief, and which according to the Greek government was “interpreted as revealing an IMF effort to blackmail Athens with a possible credit event to force it to give in on pension cuts which it has rejected.” According to Reuters, “Greece demanded an explanation from the International Monetary Fund on Saturday after an apparent leaked transcript suggested the IMF may threaten to pull out of the country's bailout as a tactic to force European lenders to more offer debt relief.”
  • Wikileaks Reveals IMF Plan To “Cause A Credit Event In Greece And Destabilize Europe”
    One of the recurring concerns involving Europe's seemingly perpetual economic, financial and social crises, is that these have been largely predetermined, “scripted” and deliberate acts. This is something the former head of the Bank of England admitted one month ago when Mervyn King said that Europe's economic depression “is the result of “deliberate” policy choices made by EU elites.  It is also what AIG Banque strategist Bernard Connolly said back in 2008 when laying out “What Europe Wants”
  • Price Controls May Be On the Way
    If you thought negative interest rates were as bad as it could get with central banks, you might be in for a surprise. Central banks have been so spectacularly unsuccessful with their accommodative monetary policies that they are discussing pulling out all the stops to get the results they want. They fail to realize that the reason prices aren’t rising is because they really want and need to fall. Bad debts weren’t liquidated during the last financial crisis, the debtors were merely bailed out. Overpriced assets weren’t allowed to be reduced in price. Central banks pumped trillions of dollars into the economy to attempt to paper over the recession. Market forces want to drive prices down, while central banks attempt to prop them up. So what to do when central banks aren’t getting their way?
  • Relative Strength in Silver
    Gold went down (as the muggles would measure it, in dollars). It dropped almost 40 bucks. Silver fell almost 60 cents. Since silver fell proportionally farther than gold, the gold-silver ratio went up. Why do we keep reiterating that gold goes nowhere, that it’s the dollar which mostly goes down over long periods of time and sometimes up as in 2011-2015? Why do we insist that the dollar be measured in gold, and that gold cannot be measured in dollars the way a steel meter stick cannot be measured in rubber bands? Some ideas that are impossible to understand using the dollar paradigm. For example, gold is in the process of withdrawing its bid on the dollar. This will have devastating consequences, which the word “reset” does not begin suggest. If the dollar is money, then this assertion — gold bids on the dollar — is incomprehensible. However, if gold is money then that makes the dollar just the irredeemable scrip issued by the Fed in order to finance its purchase of Treasury bonds. Who would be eager to trade his money to buy such scrip?
  • The Pitfalls of Currency Manipulation – A History of Interventionist Failure
    Readers may recall that the last G20 pow-wow (see “The Gasbag Gabfest” for details) featured an uncharacteristic lack of grandiose announcements, a fact we welcomed with great relief. The previously announced “900 plans” which were supposedly going to create “economic growth” by government decree seemed to have disappeared into the memory hole. These busybodies deciding to do nothing, is obviously the best thing that can possibly happen.
  • Gerald Celente Issues Trend Forecast For Gold As Global Economy Falters
    For several days, gold prices fell on hawkish comments from a number of regional Federal Reserve Bank presidents signaling support for an interest-rate rise, pointing to a possible increase at the upcoming Federal Open Market Committee meeting in late April. They reasoned, as has President Obama and the establishment business media, that anyone questioning the strength of the US economy was “peddling fiction,” and that a Fed rate hike, the second since 2006, was in order…
  • ALERT: Important Update On The War That Is Raging In The Gold & Silver Markets
    The commercial shorts are now at a level (real-time) that raises serious concern.  In fact, the commercials are close to one of their largest short positions in history.  The last time the commercials held this large of a short position in silver was in 2008.  Again, that does not mean that the price of silver cannot head significantly higher in the short-term.
  • Americans Have Been Turned Into Peasants – Time To Fight Back?
    In the 1970’s, Goldman Sachs CEO Gus Levy famously encouraged his employees to be “long-term greedy.” In order to understand how far we have fallen as an economy and culture, it’s important to understand the meaning of the phrase and reflect upon it. “Long-term greedy” implies two very important principles that define a well functioning and ethical free market economy. First, is the unrepentant belief that earning a good profit and striving for financial success is a reasonable and admirable goal for both individuals and corporations. Second, is the understanding that such financial success should be earned, not stolen. If one’s focus is the long-term, the implication is that you’re committing yourself to building something real, and that the marketplace will ultimately reward you handsomely for your product or service.
  • Is A Gas War Between The U.S. And Canada About To Start?
    The United States and Canada work well together. The countries share the world’s largest and most comprehensive trade relationship, exchanging more than $2 billion per day in goods and services; the U.S. is Canada’s largest foreign investor and Canada is the third-largest foreign investor in the U.S. The partnership clearly isn’t broken, but it may need some mending as bilateral and international gas trade stands to complicate matters in short order.
  • Why the Fed rate talk was ‘a bunch of nonsense'
    The Federal Reserve was never hiking rates four times this year. Investors didn't believe it, and now Fed Chair Janet Yellen has all but explicitly acknowledged it. Indeed, Yellen's blockbuster speech Tuesday assuring that the central bank would go slowly on future adjustments to monetary policy only caught some of the market by surprise. Others realized there was virtually no chance of a hawkish Fed in 2016. “Central bankers at the Fed bark but they won't bite,” Peter Schiff, frequent Fed critic and founder of Euro Pacific Capital, told CNBC.com. “I knew all that talk was a bunch of nonsense.”
  • Emerging-Market Currencies Set for Best Month in 18 Years on Fed
    It’s been at least 18 years since emerging-market currencies had it this good as the Federal Reserve adopted a gradual approach to its rate-increase cycle, fueling optimism that capital inflows can be sustained. A Bloomberg gauge of 20 currencies gained for a fourth day after Fed Chair Janet Yellen said that policy makers would act “cautiously” as they look to raise borrowing costs. Stocks rallied, sending shares in Shanghai up the most in a month, while South African equities rebounded from a two-week low and Russia ended the longest run of losses since 2011. The premium investors demand to hold emerging-market debt dropped from the highest since March 16.
  • Central Bank Policy Sparking Gold Demand in Europe
    When we talk about increasing gold demand, the focus tends to fall on Asia. Earlier this week, we reported surging investor demand for the yellow metal in China. The Japanese have also gone on a gold buying spree since that country’s central bank plunged interest rates into negative territory. But it isn’t just Asians who are bullish on gold.  Analysts say they see signs of growing demand for the metal in Europe as well.
  • Boeing to Cut More Than 4,500 Jobs
    Boeing Co. on Tuesday said it planned to cut more than 4,500 jobs by June, as the company accelerates cost-cutting efforts to keep pace with customers demanding less expensive jetliners. The cuts come even as Boeing has booked record orders for its jets and is increasing production of its single-aisle and twin-aisle aircraft. But the company has been losing market share to rival Airbus Group SE. Boeing’s commercial unit expects to cut about 2,400 positions by attrition and around 1,600 through voluntary layoffs, a company spokesman said. This includes the culling of “hundreds” of managers and executives, some through involuntary layoffs.
  • Dollar Falls to Five-Month Low on Slower Fed Rate Path Outlook
    The dollar fell to a five-month low against the euro on speculation the Federal Reserve will take a slower path to higher interest rates as the central bank factors in headwinds from slowing global economic growth. A gauge of the U.S. currency headed for the biggest quarterly loss since 2010 after Fed Chair Janet Yellen said Tuesday the central bank will act “cautiously” as it looks to withdraw monetary stimulus. The greenback has fallen against all of its 31 major peers in March with Russia’s ruble and Brazil’s real posting the biggest gains, helping emerging-market currencies to their best month in 18 years.

Precious Metals Are The Only Lifeboat! I have persistently WARNED you what was happening in the gold market and why you needed to convert your paper assets to physical gold and silver by the middle of September 2015. You need to hedge against the financial instability with physical gold and silver. Call the experts to help you convert your IRA or 401k into Gold, Silver and Other Precious Metals. Call GoldCo NOW before it's too late! Call Toll-Free 1-877-414-1385.

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Invitation by Pastor Lindsey Williams – From DVD – Elite Plans For 2016

This is an invitation by Pastor Lindsey Williams taken from the DVD ‘Elite Plans For 2016‘. Lindsey Williams, an ordained Baptist minister went to Alaska in 1970 as a missionary. For three years Pastor Lindsey Williams had the opportunity to sit, live and rub shoulders with the most powerful, controlling and manipulative men on the face of this planet.

PLEASE SHARE PASTOR WILLIAMS MESSAGE TO EVERYONE YOU KNOW!

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Lindsey Williams: I feel a moral obligation to tell you the truth about Donald Trump

Lindsey Williams: I feel a moral obligation to tell you the truth about Donald Trump…

“VOTE AS YOU WISH, AND LET ME TELL YOU ABOUT TRUMP – – A personal note from Peter Ticktin who knows the guy from high school:

As a law firm, we at The Ticktin Law Group do not like to get involved in politics. As soon as we endorse one side, we risk alienating everyone on the other side. Also, our lawyers and staff are, themselves, on both sides. Politics is not our game. However, Justice is!

If you saw a guy get publicly smeared, and you knew him well from the days you were friends and seniors together in high school, if you knew him to be a decent and honest man, would you want to say something? This is why I need to share what I know.

I was aghast at watching last night's debate. It was a set-up. The moderators, Cruz, and Rubio were all like little alligators trying to take a bite out of Trump. Yes, Donald Trump has had some failures, but he has been exceedingly successful. None of this came out. Instead, there was a general attack. Rubio simply makes up lies. He pretends that Trump has small hands and makes fun of him for something which isn't even real. He pretends that Donald wets his pants, and makes fun of him, as though it was true, and then he calls Donald Trump a “Bully.”

I am not suggesting that you should vote or not vote for anyone. I just need to defend a former friend who is being smeared.

Like Donald Trump, I attended New York Military Academy (“NYMA”) for high school. In fact, in our senior year, together, Donald was my captain, and I was his 1st Platoon Sergeant. I sometimes joke that I ran his first company for him, Company “A.”

People don't really change much from the ages of 17 and 18, and I know this guy. I know him to be a good decent guy. We lived and breathed an Honor Code in those years. It wasn't just a rule. It was our way of life. Neither Donald, nor any other cadet who graduated with us would ever lie, cheat, or steal from a fellow cadet. These values became irreversibly intertwined in the fabric of our personalities, of who we are.

Of the 99 guys (no girls in those days) in our class, there is not one who I know who has a bad word to say about Donald Trump. Think of it. With all the jealousies which arise in high school and thereafter, with all the potential envy, not one of us has anything other than positive memories of this man. How could we? He was an “A” student, a top athlete, and as a leader, he was highly respected. We never feared him, yet we never wanted to disappoint him. He had our respect. He was never a bigot in any way, shape or form. He only hates those who hate. Of course he denounces the KKK.

As to the discussion with the New York Times, it is his choice to release the ‘off the record' remarks. However, if he does, it opens the door for all political opposition to make that demand for everyone, and that means that our press will never get those ‘off the record' remarks which help them to understand the realities of the campaign. Moreover, the idea that Donald Trump confessed some alternate theory of his position is preposterous. Can anyone believe that all those NY Times reporters are walking around knowing some deep dark nasty secret about a guy who is seeking an endorsement?

The Republican establishment is afraid of Donald Trump. Why? They are afraid that he will lose to Hillary. They don't hate Donald. They hate her. They are so fearful that they fail to see that by expanding the base of voters for Trump, he is more likely to win.

Watching the chorus of whiners, decriers, denigrators, and self-righteous put-down experts from so many directions, from Mit Romney, to Megyn Kelly, Little Mario, it has to make you wonder. Why? Why are so many people so angry with Donald Trump, that they are lying, name calling, ridiculing, and demeaning him as they do. Either they are afraid, or they know him to be evil.

This is why I feel the need to speak out at this time. I know this man. He is a lot of things, but he is not evil. He is a decent honest guy who loves this country, and who is willing to sacrifice so much of what is left of his life, because he knows that this country needs to be fixed, and that it is going to require someone who can do the job. He just doesn't see anything around him other than political hacks, so he is willing to take this huge responsibility.

I'm not saying that he is the only one who can do the job. My point is simply as to his motivation and his goodness.

This next decade is going to be one of major changes. We all see the climate changing, and the world food supply is getting lower. Our fish stock around the world is running low. Oil prices will cause countries to fail. The Middle East is beyond repair, and we have become weak and ineffective around the world. Donald Trump sees the issues and knows that he can assemble leaders who would have the best chance of fixing things. This is why he is running. He does not need it for his own aggrandizement. He doesn't need another big jet or to take up residence in the White House. He just wants things to be fixed, and he knows that the politicians won't fix anything.

I knew Donald Trump and was close to him in our senior year in high school. I just want you to know that there is nothing to fear from him. His character is as good as it gets. He is a patriot, taking on a heroic task, and being thanked by massive abuse.

If you want to see a true reflection of a man, look at his children. Need I say more?”

 

peter-david-ticktin-donald-john-trump

Source: https://www.facebook.com/Peter.Ticktin/posts/10205751789135961

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Latest News Articles – March 31, 2016

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Lindsey Williams - Latest News Articles

Latest News From March 25, 2016 to March 31, 2016:

  • Negative Interest Rates: Causes, Consequences and Ramifications
    Central Banks are under the mistaken belief that negative interest rates could be the magic kiss which turns their toad economics into Prince Charmings.  Why exactly do they think this? What makes Draghi, Kuroda, and others think imposing negative interest rates will stimulate credit and lending in their respective economies? It is important to understand the logic behind this historic moment in global monetary history. Negative interest rates are unprecedented and show how far we have gone off course in terms of policy related to money and credit markets. They are already having a tremendous effect in several European countries and Japan, and they may eventually be coming to the US. Negative rates hold significant future implications for gold as well.
  • SunEdison shares tumble 55% on bankruptcy filing fears
    Shares of renewable power firm SunEdison plummeted 55% Tuesday as it teetered on the edge of bankruptcy amid slumping oil prices and swirling questions over the company's accounting practices. SunEdison faces a “substantial risk” of bankruptcy, according to the U.S. Securities and Exchange Commission filing by a subsidiary, TerraForm Global. SunEdison develops, installs and operates alternative energy projects.
  • 23 Percent Of Americans In Their Prime Working Years Are Unemployed
    Did you know that when you take the number of working age Americans that are officially unemployed (8.2 million) and add that number to the number of working age Americans that are considered to be “not in the labor force” (94.3 million), that gives us a grand total of 102.5 million working age Americans that do not have a job right now?  I have written about this before, but today I want to focus just on Americans that are in their prime working years.  When you look at only Americans that are from age 25 to age 54, 23.2 percent of them are unemployed right now.  The following analysis and chart come from the Weekly Standard…
  • Dallas Fed Respondent Sums It Up: “Anyone Saying We're Not In Recession Is Peddling Fiction”
    Headlines will crow of the seasonally-adjusted ‘beat' of expectations for the Dallas Fed survey (-13.6 vs -25.8 exp) but this is the 15th month in contraction (below 0) – something only seen in recession. Scratching below the surface we see employees, workweek, and capex all in contraction and forward expectations for new orders and employment tumbled. Perhaps that reality is what drove one respondent to rage, “anyone who says the economy is not in recession is peddling fiction.”
  • Q1 GDP Crashes To 0.6%: Latest Atlanta Fed Estimate
    Earlier today we said that following the abysmal January spending data revision that “the Atlanta Fed will have no choice but to revise its Q1 “nowcast” to 1.0% or even lower, which would make the first quarter the lowest quarter since the “polar vortex” impacted Q1 of 2015, and the third worst GDP quarter since Q4 2012. It means one-third of already low Q1 GDP growth has just been wiped away.” It was “even lower.”
  • US Goods Trade Balance: Exports Stabilise at Low Levels
    There was a small recovery in exports for February, which offers some hope that the sector has bottomed out. The latest US trade deficit for goods increased slightly to US$62.9bn for February, from a revised US$62.2bn the previous month and was slightly above the consensus US$62.4bn. Compared with February 2015, there was a widening of over US$7bn in the deficit.
  • Chinese Seizing Golden Opportunity; Gold Demand Surging
    Generally speaking, rising prices tend to temper demand, but when it comes to gold in China, the recent price rally has created the opposite effect. As the Wall Street Journal put it, “Chinese investors see a golden opportunity.” Demand for gold has surged in China over the last several weeks, during a period generally considered out of season. And it’s not typical Chinese jewelry purchases driving the demand. Chinese investors are buying gold coins and bars.
  • Seven years after the Great Recession, some Chicago suburbs may never recover
    Mitchell and Loria Versher say they were looking for one thing when they bought their first home in South suburban Markham: “Stability.” They might have been better off buying swampland in Florida. In retrospect, July 31, 2007, was a bad day to go shopping for property anywhere. But the modest 900-square-foot Cape Cod-style home the Vershers bought that day for $137,000, on the eve of the worldwide credit crunch, has fared especially badly, by any standard.
  • How They Brainwash Us — Paul Craig Roberts
    Anyone who pays attention to American “news” can see how “news” is used to control our perceptions in order to ensure public acceptance of the Oligarchy’s agendas. For example, Bernie Sanders just won six of seven primaries, in some cases by as much as 70 and 82 percent of the vote, but Sanders’ victories went largely unreported. The reason is obvious. The Oligarchy doesn’t want any sign of Sanders gaining momentum that could threaten Hillary’s lead for the Democratic nomination.
  • Heidi Cruz: Her Evil Past Is Now Being Revealed
    While I am aware that Heidi Nelson Cruz apparently does suffer from deep depression, just after Hillary Rodham Clinton, she is the next person to be feared the most in this presidential race for 2016. Yes, I believe in common decency, but I also stand for the dignity of women, which means that they must be respected and treated equally even if it requires the truth. In an article written by Jesse Byrnes for The Hill that was released today on March 25, 2016, under the title “Trump aide fulfills threat to ‘spill the beans' on Heidi Cruz,” he reports on the recent interview on MSNBC that Steve Kornacki had with Katrina Pierson who is an aide for Donald Trump.
  • Chemtrail Flu: Have You Got It Yet?
    Pastor Williams: ‘There is a near epidemic going on in America.' ‘You’re sick. Your nose is stuffy. Your body aches, You’re sweaty, coughing, sneezing and you don’t have enough energy to get out of bed. It’s not the flu. It’s a conspiracy, according to Dr. Len Horowitz. His opinion is not based on conspiracy theory but on conspiracy fact. Over the past 10 years, Horowitz has become America’s most controversial medical authority. A university-trained medical researcher, Horowitz, 48, charges that elements of the United States government are conspiring with major pharmaceutical companies to make large segments of the population sick. The mainstream media is reporting that hospital emergency rooms are jammed with patients suffering from a bizarre upper respiratory infection that doesn't quite seem like a virus. They are reporting that it’s a “mystery” flu and that the flu vaccines are ineffective against it. “That’s all hogwash, bogus nonsense”, says Dr. Leonard Horowitz.
  • HARRY DENT: Civil unrest is coming to America
    I made a confession to our Boom & Bust subscribers last month. While I generally advise against owning most real estate, I have a secluded property in the Caribbean. It's the only property I own (I rent my home in Tampa), and I know for a fact that its value will probably depreciate in the great real-estate shakeout I see ahead, though most likely by half as much as a high-end property in Florida. I own this property because I see rising chances for civil unrest in the inevitable downturn ahead, especially in the US. I want a place to go if things get really bad, and it looks increasingly likely that they will. The evidence for that is piling up in this year's presidential race.
  • Is This The Debt Jubilee?
    Not so long ago the financial world viewed certain numbers as limits beyond which lay trouble. Interest rates near zero, for instance, were thought to risk destabilizing the banking system. And government fiscal deficits above 3% were considered so dangerous that exceeding this level was prohibited by the Maastricht treaty that all eurozone members were required to sign. Those numbers — 0% and 3% — are still considered bad. But now for the opposite reason: They’re insufficiently aggressive. A big part of the world, as everyone now knows, operates with negative interest rates. And prominent economists are urging even greater negativity as a way to make government debt profitable and get people borrowing and spending again.
  • Empty Buildings and Wasted Debt: The Chinese Economic “Miracle”
    There’s no doubt that the Chinese economic miracle is real. When you move 500 million people from rural to urban settings, taking them from small farms and putting them in a specialized labor force, the economic dividend is massive. That’s how you keep GDP growing more than 7% for 25 years. But along the way, they wanted more. Beyond building factories and housing for new arrivals, local politicians started building massive, wasteful projects. Political meeting halls… Unused apartment buildings… Empty shopping malls… Part of it might have been poor economic planning, but a bigger, and more common, problem was at work.
  • Global Economy Dying Pig-No More Rate Hikes-Rob Kirby
    Macroeconomic researcher Rob Kirby predicted the Federal Reserve’s interest rate increase late last year “would be one and done.” Kirby explains, “They had no business raising rates in the first place because the economy was not exhibiting enough strength to warrant any rate raises whatsoever, and there won’t be any more interest rate raises because the economy continues to roll over.  Doctored economic data cannot make the sick pig that the global economy really is look any better.  It doesn’t matter how much lipstick you put on that dying pig. It’s still a dying pig.”
  • Mitsui Sees First Loss Since 1947 Amid $2 Billion Writedown
    Mitsui & Co., Japan’s second biggest trading house, forecast its first net loss since it was founded in its modern form in 1947 due to impairment charges on mining and energy projects from South America to Australia. The Tokyo-based trading house expects a net loss of 70 billion yen ($623 million) in the fiscal year ending March after booking impairment charges of 225 billion yen on assets including the Browse LNG project in Australia and the Caserones copper development in Chile, according to a statement Wednesday. Mitsui previously forecast net income of 190 billion yen.
  • This Game’s Almost Over: Central Banks Are Running Out Of Options
    Going into last week’s Fed meeting, the general consensus was that they would not raise rates. When they hiked rates by a quarter point in December, they projected there would be four additional quarter-point raises in 2016. That’s starting to look fishy as we’re almost a quarter of the way through the year and there’s still no hike. Sure enough, the Fed left rates unchanged as expected last week, and revised their rate expectations lower through 2016. Now, they anticipate only hiking another half point by the end of the year.
  • The reserve currency curse
    Is reserve currency status a blessing or a curse? The answer might seem obvious, as reserve currencies have been shown to confer lower borrowing costs on their issuers. But what of the borrower who, enticed by low interest rates, borrows more than they can pay back? Naturally the result will be a default. However, for the issuer of a reserve currency that is unbacked by a marketable commodity, such as gold, in the event that they borrow too much, they can just print more reserves. While this avoids default indefinitely, it also hollows out the economy, erodes the capital stock, reduces the potential growth rate and, eventually, leads to a dramatic devaluation of the currency and loss of reserve status. History has not been kind to countries that have followed this path, nor to their financial markets. In my view, the grave investment risks associated with the possible eventual loss of the dollar’s reserve status are not priced into financial markets.
  • Well That Didn’t Work
    The Bank of Japan and European Central Bank eased recently, which is to say they stepped up their bond buying and/or pushed interest rates further into negative territory. These kinds of things are proxies for currency devaluation in the sense that money printing and lower interest rates generally cause the offending country’s currency to be seen as less valuable by traders and savers, sending its exchange rate down versus those of its trading partners. This was what the BoJ and ECB were hoping for — weaker currencies to boost their export industries and make their insanely-large debt burdens more manageable.
  • Belgium Terror Just the Beginning of Insecure World-Egon von Greyerz
    Financial expert Egon von Greyerz (EvG) says terror attacks, like the one that just happened in Brussels, can destabilize the entire world. EvG, who lives in Switzerland, explains, “This is obviously a very sad day for our friends in Belgium, but at the same time, we know this is just the beginning, not only in Europe, but with the whole world. We are going to see a much more insecure world.  It is worldwide.  We know that the refugee problem has included a number of potential terrorists. . . . The problems that will be in the west were created by the U.S. and Europe.  The problems that were created in the Middle East and North Africa will lead to more of this.  There is anarchy in Libya.  There is anarchy in Iraq, and the West has created this.  So, they are paying us back, and I don’t think this is finished.  We will see a less secure world, and it is not just Europe.  The U.S. will see similar problems.”
  • Central Banks Move Into Crypto-Currencies As Part Of Cashless Society Hustle
    Top UK Telegraph journo Ambrose Evans-Pritchard just wrote about this planned crypto-currency in what is either an incredibly stupid and uneducated article or pure propaganda… it was titled “Central banks beat Bitcoin at own game with rival supercurrency.” The article is horrible central bank happy-talk that reads like the Bank of England wrote it for him and starts off with a blatant lie only three words in… this new RScoin, put out by the central bank of England, has not BEAT bitcoin.  It is worse in every imaginable way than bitcoin… right down to the name.  RScoin… central banker types aren’t exactly the most creative.  We’ll call it FiatCoin around here.
  • Lloyd's of London Takes `Massive Hit' From Low Returns
    Lloyd’s of London reported a 30 percent drop of full-year profit as the world’s largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least 2001. Earnings declined to 2.1 billion pounds ($3 billion) for 2015 as income from investments, primarily in fixed income, sank 60 percent to 400 million pounds with the majority earned in the first half of the year, according to the company’s annual report Wednesday. Weaker insurance pricing in 2015 is expected to continue this year, hurting profitability. “We’ve taken a double hit from reduced margins in underwriting and lower investment yield,” Chief Executive Officer Inga Beale said in an interview with Bloomberg Television Wednesday. “On the investment side we saw a dramatic reduction in 2015 that was a massive hit” to earnings.
  • Economic Collapse: Marc Faber Issues Dire Warning for America
    U.S. on Verge of Economic Collapse, Says Marc Faber. Adding more emphasis on his belief that the U.S. is on the verge of an economic collapse, perma-bear investor Marc Faber advised retail investors not to put money in U.S. stocks; instead, according to Faber, investors should pour their funds into emerging market equities. The publisher of The Gloom, Boom & Doom Report newsletter told Bloomberg that U.S. stocks are highly priced by several measures, including price-to-sales, price-to-earnings, and market cap-to-gross domestic product (GDP) ratios, whereas emerging markets have corrected significantly since 2006 and 2011.
  • U.S. Mining Losses Last Year Wipe Out Profits From Past Eight Years
    The U.S. mining industry—a sector that includes oil drillers—lost more money last year than it made in the previous eight. Mining corporations with assets of $50 million or more recorded a collective $227 billion after-tax loss last year, according to Commerce Department data released Monday. That loss essentially wipes out all the profits the industry had made since 2007.
  • Here We Go Again: Government Ramps Up Borrowing As Private Sector Slows
    This morning, US existing home sales plunged and the Chicago Fed’s national activity index turned negative. Both are obvious signs of a slowing economy. Anticipating this kind of news, Credit Bubble Bulletin’s Doug Noland in his most recent column analyzed the Federal Reserve’s quarterly Z.1 Report for signs of changing financial trends, and found something potentially serious.
  • Michael Hudson on Debt Deflation, the Rentier Economy, and the Coming Financial Cold War
    Michael Hudson has sent us the transcript of his newly-released interview with Justin Ritchie on
    February 26 with XE Podcast
  • NIRP Is Absolutely Crushing Big Parts Of The Finance World
    Savers are the obvious victims of the past few years’ plunge in interest rates. But there are other casualties, including money market funds, which have no reason for existing if their yield is negative, and insurance companies, which price their policies on the assumption that they’ll earn good returns on their bond portfolios. As bond yields plunge, the returns insurance companies can expect are also plunging, forcing them into huge write-offs and, soon, steep premium increases that will scare away customers.
  • US Military Increases South China Sea Presence; China Balks
    In response to China’s assertive moves in the South China Sea, the U.S. State Department struck a deal with the government of the Philippines to permit American military forces to operate from five Philippine bases. The Chinese seem more annoyed than intimidated by the increased American military presence in the region.
  • Interest Rates Are Never Going Back to Normal
    Let’s see… U.S. corporate earnings have been going down for three quarters in a row. The median household income is lower than it was 10 years ago. And now JPMorgan Chase has increased its estimated risk of a recession to about one in three. These things might make sober investors wonder: Is this a good time to pay some of the highest prices in history for U.S. stocks? Apparently, they don’t think about it… Last week U.S. stocks rose again, after the Fed announced that it would go easy on “normalizing” interest rates. The Dow rose 156 points on Thursday, putting it in positive territory for 2016.
  • The Government Wants to Give You Free Cash
    Could the government start handing out free cash? It sounds crazy. But believe it or not, it’s a real possibility. In fact, an Ivy league economist just predicted it will happen within five years… If you’ve been reading the Dispatch, you know the Federal Reserve has used crazy monetary policies to “stimulate” the economy since the 2008 financial crisis. These policies have been huge failures. After seven years, the U.S. economy is barely growing. Yet, instead of acknowledging its failure, the government is preparing to double down. And its friends in the lapdog media think it’s time for “helicopter money.”
  • Gold and Gold Stocks – A Change in Market Character
    Similar to many others, we have been waiting for some sort of correction in gold and gold stocks, but obviously, not much has happened in this respect so far. We have written quite a lot about gold and gold stocks between August 2015 and February 2016, because we felt a good opportunity was at hand – a short term trading opportunity at the very least, but one with the potential to become more than that.
  • NATO’s RAGE: Trump Questions America’s Role in ‘Nation-Building’ – Talks of Restoring Russian Ties
    GOP presidential frontrunner Donald Trump unveiled his noninterventionist platform to The Washington Post’s editorial board and in the process – questioned America’s relationship with the North Atlantic Treaty Organization…
  • China Sends Fed A Warning: Devalues Yuan By Most In 2 Months
    With the USD Index stretching to its longest winning streak of the year, jawboned by numerous Fed speakers explaining how April is ‘live' (and everyone misunderstood the dovishness of Yellen), it appears that The PBOC wanted to send a message to The Fed – Raise rates and we will unleash turmoil on your ‘wealth creation' plan. Large unexpected Yuan drops have rippled through markets in recent months spoiling the party for many and tonight, by devaluing the Yuan fix by the most since January 7th, China made it clear that it really does not want The Fed to hike rates and cause a liquidity suck-out again.
  • This map shows every country's major export
    Bank of America Merrill Lynch is out with its “Transforming World Atlas” research note, which examines global economic trends through a series of maps. One particular map that stood out showed each country's major export, using data from the CIA World Factbook. Notably, many countries heavily rely on commodities as their primary source of foreign income. Consequently, one can use this as a map to see which country gets hit the hardest when commodities drop. For example, those in navy were hardest hit by the oil crash.
  • These are the fastest growing and shrinking counties in America
    The American population is always changing in various ways. The Census Bureau recently released their annual estimates of population change in the 3,142 counties and county equivalents of the US, showing how populations grew and shrank between July 1, 2014, and July 1, 2015. Using those estimates, we made a map showing the total population change in each county. Red counties had a loss of population, and blue counties saw increases. As has been the overall trend for decades, the Northeast and Midwest tended to see a loss in population, while the big cities of the South and West, along with oil-rich regions in west Texas and North Dakota, saw big increases.
  • HEDGE FUND MANAGER: This is ‘no longer an investment market but a battlefield'
    London-based hedge fund manager Crispin Odey, who runs $11 billion in assets, said this is “no longer an investment market but a battlefield.” In Odey's OEI Mac fund's February investment update, Odey slammed central banks for lowering or not raising interest rates. “Several years of watching central banks watching central banks responding to ever falling productivity numbers by reducing interest rates have shown that they can effect asset prices with their actions, but that not only do they have almost no effect on economic activity, but they positively damage it,” Odey said. This year has been brutal for Odey. The OEI Mac fund, which invests in Odey's flagship European fund, finished January up 8.3% before seeing all its gains wiped out after falling -10.6% in February.
  • Swiss National Bank Admits It Spent $470 Billion On Currency Manipulation Since 2010
    By now it is common knowledge that when it comes to massive, taxpayer-backed hedge funds, few are quite as big as the Swiss National Bank, whose roughly $100 billion in equity holdings have been extensively profiled on these pages, including its woefully investments in Valeant and the spike in its buying of AAPL stock at its all time high. But while the SNB's stock holdings are updated every quarter courtesy of its informative SEC-filed 13F (we wish the Fed would also disclose the equities it holds courtesy of its Citadel proxy), getting a gllimpse of the flow is more problematic, and involves waiting for the hedge fund's, pardon central bank's annual report. Earlier today patience was rewarded when the SNB filed its 108th annual report, in which it disclosed that it spent CHF 86.1 billion or $88 billion, on current interventions last year, a measure of its efforts to shield the economy from deflation.
  • This Is One Of The Most Important Silver Charts Of 2016!
    On the heels of gold and silver continuing to consolidate their gains from the early part of 2016, analyst David P. out of Europe sent King World News an extremely important chart of silver, along with a brief commentary. The following long-term silver chart and commentary was sent to KWN by analyst David P. out of Europe:  “The silver chart looks incredibly bullish.  The buy signal on the MACD has confirmed the upward move and just look at the setup.”
  • Desperate Chinese Investors Flood US, Canadian Housing Markets, But Real Numbers Are Taboo
    Buying a home in the US or Canada has been an effective way for foreign residents to launder some money and get their wealth out of harm’s way. In the trophy markets on the US West Coast and in the Canadian cities of Vancouver and Toronto, rumors of a massive influx of Chinese money have swirled with growing intensity for years. The Chinese economic elite are worried about a devaluation of the yuan. They’re worried about getting rolled up by their own government. They’re worried about markets collapsing. They’re worried about pollution. They’re worried about a million things. They have one foot out the door. If push comes to shove, they’re ready to make the move. So capital flight from China has turned into a tsunami. And this money has to go somewhere.
  • Oman Gas Projects Could Undermine U.S. LNG Market Ambitions
    Two separate projects in the sultanate of Oman are about to turn the tiny Gulf country into an important international liquefied natural gas (LNG) player that the U.S. will have to contend with in its ambition to become the leader of this market. The first one is an agreement with Iran for the construction of a 400-kilometer pipeline that will transport Iranian natural gas to be liquefied at the three-train processing facility of Oman LNG.
  • What Is Happening With GLD And Emerging Markets?
    The following charts and commentary are from Jason Goepfert at SentimenTrader:  ETF traders keep coming into gold. The GLD fund is seeing inflows even as the fund struggles to hold its gains.
  • BERNANKE: Here are some of the exotic tools the Fed could use if we see another slowdown
    Although the U.S. economy appears to be on a positive trajectory, history suggests that at some time in the next few years we may again face a slowdown, with a weakening job market and possibly declining inflation. Given that the historically low level of short-term interest rates is likely to limit the scope for conventional rate cuts, how would the Federal Reserve respond?
  • Bank Earnings Get Mauled by “Leveraged Loan” Time Bomb
    Banks have a few, let’s say, issues, among them: a source of big-fat investment banking fees is collapsing before their very eyes. S&P Capital IQ reported today that there was an improvement in the “distress ratio” of junk bonds, after nearly a year of brutal deterioration that had pushed it beyond where it had been right after Lehman’s bankruptcy. The recent surge in oil prices seems to have lifted all boats for a brief period. But not “leveraged loans.” Their distress ratio spiked to the highest levels since the Financial Crisis!
  • “The Greatest Crash Of Your Life Is Just Ahead…” – Harry Dent Warns
    Harry Dent, best-selling author and economist, has warned that the stock bubble in the U.S. today is the biggest in history and that the “greatest crash of your life is just ahead…” Writing on his website EconomyandMarkets.com, Dent warned that ‘The story on Wall Street and CNBC continues to be that we’re in a correction and this is a buying opportunity. Even Warren Buffett joins the chorus of stock market cheerleaders for the skeptical public. Well, I agree with the skeptical public, not the experts here! The bull market from early 2009 into May 2015 looks just like every bubble in history, and I’m getting one sign after the next that we did indeed peak last May.
  • Keiser Report: Warnings from Confucius
    In a double-Stacy episode, we look at the warnings from Confucius and Adam Smith. First, we look at the danger of those who think but do not learn; so ‘free trade’ deals are imposed because a ‘think tank’ believes it’s a great ideological idea but without looking at history to see what happens when wealth and hope are taken from an entire class of people. Then, in the second half, we look at the most important issue of 2016: creeping monopolization as oligopolies emerge in every major sector in America and across the world.
  • Top Advisor To Largest Sovereign Wealth Funds Exposes Fed Manipulation And Intervention
    Michael Belkin on the Fed’s interventions and manipulations:  “I’m utterly convinced that the Federal Reserve manipulates the stock market.  I experienced this firsthand when I worked at a government securities dealer, Solomon Brothers, which was one of the top three investment banks back in the 1980s and early 1990s.  And in the 1987 stock market crash, they (the Federal Reserve) came in through us and intervened in the markets to make the markets bounce back.  Everybody on the desk knew that.  They (at Solomon’s trading desk) watched the (Solomon Brothers) Vice Chairman start bidding for multiple huge blocks of stock with money that we didn’t have.  At that point the trading desk was paralyzed and nobody knew what was going on.
  • This Oil Sector Hasn’t Crashed Yet… But It’s About to
    Unlike the rest of the oil industry – which has been decimated by lower oil prices – U.S. oil refiners have marched on to new highs. But the five-year-long bull market for these companies is about to come crashing down. Let me explain… You can see the incredible uptrend in the following chart of refining giant Valero Energy (VLO). Its shares are trading near an all-time high…
  • Oil Prices Fall Fast On Huge Inventory Build
    Two hundred and twenty-two years after Josiah G. Pierson patented the rivet machine, and the oil market remains as riveting as ever. (I’m here all week, folks). After yesterday’s API report gave a flourishing hat-tip towards a large build to crude stocks and a large draw to gasoline, oil is sliding amid a stronger dollar, while gasoline is pushing higher. Here are some things to consider today: Jumping straight into economic data, the most insights we’ve had overnight have come from Brazil. Its mid-month inflation print dropped into single digits (at +9.95 percent), but still close to a 12-year high. Meanwhile, its unemployment rate jumped to 8.2 percent, its highest level in nearly 7 years.
  • There has been ‘a perfect storm' on Wall Street
    By now it should come as no surprise that first-quarter results will be pretty horrendous for Wall Street. Banks will begin reporting Q1 earnings in mid-April, and a chorus including Morgan Stanley's head of trading and the CEO of JPMorgan's investment bank has warned that it will be unusually weak. The data-analytics firm Dealogic's preliminary Q1 results for investment-banking fees show the worst first quarter since the dark post-financial-crisis days of 2009.
  • Gold, Silver & The Final Currency War
    Andy Hoffman from Miles Franklin is back to help document the global economic collapse for the third week of March, 2016. Thanks for tuning in. And despite the horrific “terror attack” in Belgium today, March 22, 2016 [Google: 322 Skull and Bones], I hope you all have a great week.
  • Peter Schiff on gold, the Fed and the world’s addiction to stimulus
    Peter Schiff is the CEO of Euro Pacific Capital Inc., and is an outspoken critic of the Fed’s stimulus and zero interest rate policies. He is the author of several New York Times bestsellers including Crash Proof, and most recently, The Real Crash.
  • More Confessions of an Economic Hit Man: This Time, They’re Coming for Your Democracy
    Twelve years ago, John Perkins published his book, Confessions of an Economic Hit Man, and it rapidly rose up The New York Times’ best-seller list. In it, Perkins describes his career convincing heads of state to adopt economic policies that impoverished their countries and undermined democratic institutions. These policies helped to enrich tiny, local elite groups while padding the pockets of U.S.-based transnational corporations.
  • Japan Goes Full Krugman: Plans Un-Depositable, Non-Cash “Gift-Certificate” Money Drop To Young People
    The Swiss, the Finns, and the Ontarians may get their ‘Universal Basic Income' but the Japanese are about to turn the Spinal Tap amplifier of extreme monetary experimentation to 11. Sankei reports, with no sourcing, that the Japanese government plans to unleash “vouchers” or “gift certificates” to low-income young people to stimulate the “conspicuous decline” in consumption among young people. The handouts may not be deposited, thus combining helicopter money (inflationary) and fully electronic currency (implicit capital controls and tracking of spending).
  • Durable-Goods Orders Weaken Amid Global Headwinds
    A key measure of U.S. manufacturing health tipped back into decline last month, evidence that headwinds from weak global growth, low oil prices and financial volatility are weighing on company spending. New orders for durable goods—products designed to last at least three years, like dishwashers and aircraft—fell a seasonally adjusted 2.8% in February from a month earlier, the Commerce Department said Thursday.
  • The Initial Jobless Claims Mystery Continues
    Still hovering near 43 year lows, initial jobless claims printed a better than expected 265k against expectations of 269k. Continuing claims also dropped from 2.218m to 2.179m – also back near 43 year lows. So, the mystery is – why is the ISM's composite manufacturing and services employment index collapsing to 6 year lows?
  • The labor market just did something that hadn't happened since the 1970s
    Thursday's initial jobless claims came in stronger than expected, with 265,000 claims versus expectations of 269,000.  But the truly historic part of the report actually came three weeks ago. “Today's release also includes revisions of both initial and continuing claims dating back to 2011,” Thomas Simons, senior economist at Jefferies, wrote. “Most of the changes were relatively modest, but the most notable aspect of the revisions is that claims for the week of March 5th (3 weeks ago) were revised down to 253,000 which is, as far as we can tell, the lowest weekly claims figure since November 24, 1973.”

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Latest News Articles – March 24, 2016

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Lindsey Williams - Latest News Articles

Latest News From March 18, 2016 to March 24, 2016:

  • Connecticut Credit Risk Spikes To Record High
    Amid cuts in aid and surging taxes, it appears the market remains less than impressed at Connecticut's debt sustainability. Following last week's disappointing bond auction, CT bond risk has spiked to 65bps over the benchmark – a record spread demanded by investors to take CT repayment risk. CT becomes the 4th riskiest US state after NJ, IL, and PA.
  • Humans need not apply: RBS to replace 550 roles with robots
    Royal Bank of Scotland (RBS) plans to replace 550 of its face-to-face investment advisers with so-called robo-advisers. 220 investment advice roles and 200 protection advice jobs will be cut while face-to-face investment advice will be available only to customers with at least £250,000 in investment assets.
  • US Manufacturing PMI Misses By Most Since 2013, Presidential Election Blamed
    Given the extraordinary jumps in several regional Fed surveys, hope was rife that US Manufacturing PMI's flash print would jump… it didn't. Hovering near multi-year lows at 51.4, PMI missed expectations of 51.9 by the most since Aug 2013. With record highs in wholesale inventories, Markit claims that “pre-production inventories decline at the steepest pace in over 2 years.” The blame for this plunge: dollar strength, weak global demand, and Trump. Not recovering…
  • Americans just had $176 million in wages garnished by the government due to unpaid student loans
    Despite more programs available to federal student loan borrowers to manage their loans, borrowers are still struggling. In fact, between October 1 and December 31, 2015, private debt collection companies hired by the Department of Education garnished more than $176 million in wages from defaulted student loan borrowers in order to pay back their debts, according to data released last week. Though the government provides a variety of options to help student loan borrowers manage their payments, it also has extraordinary powers — including wage garnishment — to collect on the debt if a borrower defaults.
  • U.S. existing home sales tumble in warning sign for housing market
    U.S. home resales fell sharply in February in a potentially troubling sign for America's economy which has otherwise looked resilient to the global economic slowdown. The National Association of Realtors said on Monday existing home sales dropped 7.1 percent to an annual rate of 5.08 million units, the lowest level since November. Sales have been volatile and prone to big swings up and down in recent months following the introduction in October of new mortgage regulations, which are intended to help homebuyers understand their loan options and shop around for loans best suited to their financial circumstances.
  • Fed's Lacker says he is confident inflation will return to 2 percent
    U.S. inflation is likely to accelerate in coming years and move toward the Federal Reserve's 2 percent target, Richmond Fed President Jeffrey Lacker said on Monday, flagging upside risks to price growth. Inflation has been unusually sluggish since the 2007-2009 recession. The Fed has kept interest rates low in part to foster faster price gains and said last week it was likely to raise interest rates more slowly than policymakers had expected in December.
  • Share Buybacks Turn Toxic
    Companies are still borrowing and spending billions on buying back their own shares – one of the big drivers behind the blistering stock market rally of the past few years. It worked wonderfully and without fail. But suddenly, it’s doing the opposite, and now the shares of the biggest buyback queens are getting hammered. Something broke in the gears of this financially engineered market! During the November-January period, 378 of the S&P 500 companies bought back their own shares, according to FactSet. Total buybacks in the quarter rose 5.2% from a year ago, to $136.6 billion. Over the trailing 12 months (TTM), buybacks totaled $568.9 billion. That’s an enormous amount of corporate cash that was dumped on the market!
  • It's Day 26 Of The Rally – Decision Time
    In September/October 2015, the S&P 500 miraculously rallied just over 13% in 25 days amid falling earnings expectations, before collapsing back to fresh cycle lows. It has now been 25 days (and just over 13%) since the Mid-Feb lows (and earnings expectations are plumbing new lows)… The same but different?
  • Rich people are paying lawyers to get truthful stories deleted from the internet
    Last week, Bloomberg, The Independent, Business Insider and a handful of other news organisations all deleted from their websites a story that a rich family did not want published. I can't tell you why it was deleted or who the story was about, because of a court order from a judge in London ruling that the facts be kept under seal.
  • January ‘Bounce' Dies As Fed's National Activity Index Tumbles Back Into Contraction Near 2-Year Lows
    After January's hopeful spike to 6 month highs, Chicago Fed's National Activity Index plunged back into contraction (at -0.29) near 2 year lows. A shockingly large 58 of the 85 individual indiators within the index made negative contributions to the overall index which printed notably below the lowest economist's expectations.
  • Nanobot implants could give us ‘God-like' intelligence, but machines won't overtake us until they learn to love, scientist claims
    The human brain could be enhanced by tiny robotic implants that connect to cloud-based computer networks to give us ‘God-like' abilities, according to a leading computer scientist. Ray Kurzweil, an author and inventor who describes himself as a futurist who works on Google's machine learning project, said such technology could be the next step in human evolution. He predicts that by the 2030s, humans will be using nanobots capable of tapping into our neocortex and connecting us directly to the world around us. However, he admitted that computers won't take over us until they learn to love and laugh.
  • Existing home sales plunge 7.1% to a 3-month low in February
    Existing-home sales plummeted 7.1% in February, pointing to ongoing rockiness in a housing market struggling to find its footing. Sales ran at a seasonally adjusted annual rate of 5.08 million, the National Association of Realtors said Monday, well below the 5.3 million rate forecast by economists surveyed by MarketWatch. February’s decline followed a strong two months. Sales surged by the most ever in December, and followed with a sturdy reading in January when most economists had expected some giveback.
  • Federal Reserve Hot Air Pumped Up a Stock Market Bubble; 93% of Gains Due to Monetary Policy
    The mainstream financial media is like a stopped clock. Every once in a while, it stumbles into being right. Last week, we had a veteran trader on CNBC Futures Now telling everybody to buy gold as long as central banks continue their expansionary monetary policy, all the while swearing he isn’t a “gold-bug.”
  • Legend Warns The Price Of Silver May Hit $660 As The World Financial System Melts Down
    On the heels of wild start to the 2016 trading year, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, just warned that the price of silver may be headed to the stratospheric price of $660 as the world financial system melts down. Egon von Greyerz:  “The Fed last Wednesday did what I had already forecast back in December and did not increase rates. They know that the real economic situation in the US and in the world is a lot worse than all the manipulated figures and propaganda. Therefore, we are now getting closer to Minsky Moment for the world economy…
  • Gerald Celente On Why People Are Buying Gold And Why The Price Is Headed Higher
    Today the top trends forecaster in the world spoke with King World News about why the price of gold is going higher. Gerald Celente:  “Why are people going into gold and why are gold prices going up?  Listen to what former Fed president Richard Fischer said, ‘They (the central banks) are running out of ammunition.’  He also said, ‘We injected cocaine and heroin into the system,’ to basically keep the Ponzi scheme going.  So why are people buying gold?  Because it (the entire global financial system) is on a fake high.  So that’s why gold is going up — it’s a fraudulent game.  It’s not working.  It’s a fake high.  That’s why people are buying gold…
  • Radical Leftists Unleash Anti-Trump Riots Starting On March 19th
    Many of the exact same groups that participated in Occupy Wall Street and helped organize protest rallies in Ferguson and Baltimore are now promising to bring us “the largest civil disobedience actions in a generation”.  I recently wrote about the trouble that radical leftists have caused by attempting to disrupt Trump campaign events, but now there is a very organized effort to turn this into a national movement.  On March 19th, thousands of angry protesters will descend on Trump Tower in New York City to denounce Donald Trump’s “fascist policies”, and on April 2nd dozens of leftist organizations will join together to launch “Democracy Spring” in Philadelphia.  From there, large numbers of liberal activists will march to Washington D.C. where they will “risk arrest” during a “peaceful” sit-in at the U.S. Capitol from April 11th to April 18th.  If the radical left is this freaked out about Donald Trump now, how bad will things get if he actually becomes the Republican nominee?
  • Why Investing In Silver Is Vastly Superior To Investing In Gold Right Now
    When panic and fear dominate financial markets, gold and silver both tend to rapidly rise in price.  We witnessed this during the last financial crisis, and it is starting to happen again.  Because I am the publisher of a website called The Economic Collapse Blog, I am often asked about gold and silver when I do interviews.  In fact, just a few days ago I was sitting right next to Jim Rickards during the taping of a television show when this topic came up.  Jim expressed his belief that investing in gold is superior to investing in silver, but I had the exact opposite viewpoint.  In this article, I would like to elaborate on why I believe that silver represents a historic investment opportunity right now.
  • Catalonia Nears Default, Threatens Spain’s Debt
    When Catalonia’s regional government announced a road map to independence from Spain in November last year, Madrid’s response was to threaten to cut off the financial supply lines to the region. It was the equivalent of a declaration of economic war, riddled with risks, especially with an acutely cash-strapped Catalonia facing over €4.6 billion of bond redemptions in 2016.
  • China Hard Landing Hits Electricity Consumption
    OK, we’ve heard the official story. China is transitioning from a manufacturing economy to a consumption-based economy. Consumers are king. They’re going to buy stuff. And that’s going to heat up the economy. Imports and exports have been plunging for months, but no big deal, Chinese consumers – and there are a lot of them – are going to pull the economy forward. That’s the official story.
  • A Strange Pattern Emerges When Trading The US Dollar In 2016
    One of the more surprising market developments of 2016 has been the violent obliteration of those who had taken part in the biggest consensus trade of 2015, namely long the USD. As the Fed finally admitted earlier this week, the US economy is sputtering and is woefully incapable of handling 4 rate hikes, or 3 for that matter. In fact, the Fed will be lucky to push through even one more rate hike without the Chinese Yuan collapsing and unleashing even more capital outflows (which precipitated the major market swoons in the summer of 2015 and early 2016) arguably the main topic during the alleged Shanghai G-20 “central bank accord.” The result: this week saw the biggest two-day USD collapse against a basked of foreign currencies in years, and currently the DXY is trading at a lower level than a year ago.
  • January Mortgage Delinquencies up 6.6%; 98,000 Bad Mortgages Face Statute of Limitations in 3 States
    The Mortgage Monitor for January (pdf) from Black Knight Financial Services (BKFS, formerly LPS) reported that there were 659,237 home mortgages, or 1.30% of all mortgages outstanding, remaining in the foreclosure process at the end of January.  This was down from 688,672, or 1.37% of all active loans that were in foreclosure at the end of December, and down from 1.76% of all mortgages that were in foreclosure in January of last year.  These are homeowners who had a foreclosure notice served but whose homes had not yet been seized, and the January “foreclosure inventory” is now showing the lowest percentage of homes that were in the foreclosure process since the fall of 2007.   New foreclosure starts, which have been volatile from month to month, fell to 71,900 in January from 78,088 in December and from 93,280 in January a year ago, while they were still higher than the 66,626 foreclosure starts we saw in November, which had been the lowest since the crisis began.  Over the past year, new foreclosure starts have remained in a range about one-third higher than number of new foreclosures we we seeing in the precrisis year of 2005.
  • “Don't Take The Public For Fools!”: China Hides Millions Of Layoffs, Jails Miners Protesting Unpaid Wages
    When you look out across markets and across the increasingly fraught geopolitical landscape, there are plenty of black swans waiting in the wings (no pun intended). And quite a few of them are Chinese. China has, among other problems: a massive debt overhang that, all told, amounts to more than 250% of GDP; a decelerating economy that Beijing swears will be able to pull off a miracle and move away from the smokestack and away from export-led growth without slipping into recession; a currency crisis; a new property bubble in Tier-1 cities; and a burgeoning NPL problem in the banking sector. All of those issues are of course inextricably bound up with one another. They are set like dominoes and once the first one tips, the rest will too as sure as night follows day.
  • Life and Times During the Great Depression
    The economy of the United States was destroyed almost overnight. More than 5,000 banks collapsed, and there were 12 million people out of work in America as factories, banks, and other shops closed. Many reasons have been supplied by the different economic camps for the cause of the Great Depression, which we reviewed in the first part of this series. Regardless of the causes, the combination of deflationary pressures and a collapsing economy created one of the most desperate and miserable eras of American history. The resulting aftermath was so bad, that almost every future Central Bank policy would be designed primarily to combat such deflation.
  • Goldman FX Head: “No Central Bank Conspiracy” To Crush The Dollar, “We Are Right, The Market Is Wrong”
    Anyone having listened, and traded according to the recommendations of Goldman chief FX strategist Robin Brooks in the past 4 months, is most likely broke.  First it was his call to go very short the EURUSD ahead of the December ECB meeting, which however led to the biggest EURUSD surge since the announcement of QE1.  Then, two weeks ago, ahead of the ECB meeting he “doubled down” on calls to short the EUR ahead of the ECB, the result again was a EUR super surge, the biggest since December. And then, as we previously reported, ahead of the FOMC's uber-dovish meeting, Brooks released a note titled the “The Dollar Rally Is Far From Over” in which he said the following: “today brings the latest FOMC meeting. We expect the Fed to signal that it wants to continue normalizing policy, which means three hikes this year and four in 2017, with the statement referring to the risks as “nearly balanced,” reverting to phraseology used in October, just before December lift-off. Overall, our sense is that the outcome will be more hawkish than market pricing, in particular given that the FOMC may leave open the option of tightening at the April meeting.”
  • US Money Supply and Debt – Early Warning Signs Remain Operative
    Year-end distortions have begun to slowly come out of the data, and while broad true US money supply growth remains fairly brisk, it has begun to slow again relative to January’s y/y growth rate, to 7.8% from 8.32%. So far it remains in the sideways channel (indicated by the blue lines below) between approx. 7.4% and 8.6%, in which it has meandered since mid 2013. We believe the next break “below the shelf” is likely to be a significant event.
  • The World Map of the U.S. Trade Deficit
    The United States has now run an annual trade deficit for 40 years in a row. Last year was no exception, and in 2015 the U.S. had over $1.5 trillion in exports while importing $2.2 trillion of goods. The resulting trade deficit was -$735 billion. Today’s map from HowMuch.net, a cost information site, helps put this most recent information into perspective. Keep in mind that a trade deficit also means an outflow of domestic currency to foreign markets, as the U.S. is spending more money abroad than it is bringing in.
  • The Lego Movie Economy
    After the February jobs report, President Obama said “America’s pretty darn great right now.”  He then went on to disparage the “doomsday rhetoric” of the Republicans, which he said was pure “fantasy. I think that there is a good chance that this will enter the Hall of Fame of miss-timed statements, right up there with this jewel from Ben Bernanke in March 2007:  “At this juncture, however, the impact on the broader economy and financial markets of the problems in the sub-prime market seems likely to be contained.”
  • Munich Re Gives The ECB The Middle Finger, Owns Almost 300,000 Ounces Of Gold
    Last week, we reported on the ECB’s decision to cut the interest rates and how Mario Draghi said ‘helicopter money’ is ‘an interesting concept that is being studied’. In the accompanying Q&A session, Draghi also said he did not expect the ECB would have to reduce the (already negative) interest rates even further which disappointed the markets. In fact, the disappointment was so big, the ECB already sent one of its members into the trenches to walk back on that statement.
  • Investors Buy Gold ETFs at Record Pace
    What were the three most popular investments over the last month? If we’re judging by ETF inflows, the three areas that investors piled into were precious metals, government bonds, and low-volatility equities. Notably, it was gold ETFs that set a new record with their highest monthly inflows in eight years, as investors bought $7.9 billion of securities in February. This is according to the latest from market data company Markit, that also noted that inflows relative to assets under management (AUM) were equally as impressive. More specifically, last month’s buying represented an increase of 14.6% in terms of AUM. This is a level only surpassed once before during the heat of the Financial Crisis, when inflows relative to AUM hit 17.7% in February 2009.
  • World’s Second Largest Reinsurer Buys Gold, Hoards Cash To Counter Negative Interest Rates
    The world’s second-largest reinsurer, German Munich Re which is roughly twice the size of Berkshire Hathaway Re, is boosting its gold reserves and buying gold in the face of the punishing negative interest rates from the European Central Bank, it announced today. As caught by Mark O'Byrne at GoldCore and reported by Thomson Reuters this afternoon, the world’s largest reinsurer is far from alone in seeking alternative investment strategies to counter the near-zero or negative interest rates that reduce the income insurers require to pay out on policies. Munich Re has held gold in its coffers for some time and recently added a cash sum in the two-digit million euros, Chief Executive Nikolaus von Bomhard told a news conference.
  • Your Money In The Bank Will Be Gone
    The world is now starting the final phase of the failed experiment in creating wealth and prosperity for a select few and massive debt and misery for the masses. It all started with the creation of the Fed in 1913. This led to a global credit creation and money printing extravaganza of a magnitude that the world has never seen before. We have now reached the point when it makes no difference who becomes US president or what the Fed or the IMF will do. No, now we are at the point that von Mises so succinctly defined.
  • 12 Obamacare Insurance CO-OPs Fold After Getting $1.2 Bil from Govt.
    More than half of the government-funded nonprofit health insurers created by Obamacare have failed, sticking taxpayers with a $1.2 billion tab and leaving hundreds of thousands of people in more than a dozen states scrambling for medical coverage, a new federal audit reveals. The nonprofit insurers are known as Consumer Operated and Oriented Plan Program (CO-OP) and the Department of Health and Human Services (HHS) has pumped $2.4 billion into them under the president’s hostile takeover of the nation’s healthcare system.
  • Is coercion ever justified?
    Last week’s editorial asked the question: Can the Constitution be improved? We said that the American Constitution represented an new concept in history. It declared that the sovereign power of the state rightfully is derived from the people instead of the divine right of kings. We concluded that it was an amazingly successful beta model but that it was not perfect, because it contained undefined phrases, such as “the general welfare” clause, that left holes through which political predators eventually were able to enter and undermine original intent.
  • The Internet Of Things Will Be The World's Biggest Robot
    The Internet of Things is the name given to the computerization of everything in our lives. Already you can buy Internet-enabled thermostats, light bulbs, refrigerators, and cars. Soon everything will be on the Internet: the things we own, the things we interact with in public, autonomous things that interact with each other. These “things” will have two separate parts. One part will be sensors that collect data about us and our environment. Already our smartphones know our location and, with their onboard accelerometers, track our movements. Things like our thermostats and light bulbs will know who is in the room. Internet-enabled street and highway sensors will know how many people are out and about—and eventually who they are. Sensors will collect environmental data from all over the world.
  • Smartphones to replace cards at bank machines
    Here's another use for the smartphone as it invades daily life: in place of your debit card at your bank cash machine. The “cardless” automatic teller machine (ATM) is gaining ground in the US and around the world, with smartphone technology allowing for speedier and more secure transactions. Dozens of US banks are installing new ATMs or updating existing ones to allow customers to order cash on a mobile application and then scan a code to get their money without having to insert a bank card. US banking giants Wells Fargo, Bank of America and Chase are in the process of deploying the new ATMs, as are a number of regional banks and financial groups around the world. Makers of ATMs and financial software groups are ramping up to meet this demand.
  • The New New ‘Deal' – “Markets Are Too Important To Be Left To Investors”
    Our story so far… In the second half of 2014, export volumes in every major economy on Earth began to decline, the result of divergent monetary policies that crystallized with the Fed’s announced tightening bias in the summer of 2014. This decline in trade activity – which is far more impactful than a decline in trade value, because it means that the global growth pie is structurally shrinking – accelerated in 2015 and 2016 as Europe and Japan intentionally devalued their currencies to protect their slices of the global trade pie. In game theoretic terms, Europe and Japan have been “free riders” on the global system, using currency devaluation to undercut the prices of competing US and Chinese products in a way that avoids domestic political pain.
  • Oil output rises even as US rig count falls to historic lows
    The number of oil and gas drilling rigs in the US has fallen to the lowest level since data started being collected, although production remains near record highs. The number of rigs drilling in the US now stands at 94, three down on last week and the lowest rig count since the energy consultancy Baker Hughes starting tracking the figures back in 1948. The rig count has dropped by 63 per cent over the past year and is almost 90 per cent lower than peak levels five years ago when oil was in excess of $US110 a barrel.
  • Even Mainstream Economists Starting to Admit that “Free Trade Agreements” Are Anything But …
    Trump and Sanders have whipped up a lot of popular support by opposing “free trade” agreements. But it’s not just politics and populism … mainstream experts are starting to reconsider their blind adherence to the dogma that more globalization and bigger free trade agreement are always good.
  • Trump is completely wrong about the U.S. trade deficit
    Thomas Sowell once explained that economists visit the dentist so often because we gnash our teeth hearing so much “ignorant nonsense about the economy.” Thanks to the gibberish spewed almost daily about international trade, dentists must be having an especially busy year. Virtually all economists support free trade and oppose protectionism. For example, a 2014 University of Chicago survey found that 93% of the country's top economists agreed with the statement “Past major trade deals have benefited most Americans” and none disagreed (7% were uncertain).
  • The world's second biggest coal miner could be about to go bankrupt
    Peabody Energy, one of the world's biggest producers of coal, has warned that it is at risk of going bankrupt in the very near future, thanks to a lack of “sufficient liquidity to sustain operations and to continue as a going concern” caused largely by the continuing downturn in the coal mining industry. In a regulatory filing on Wednesday, the US-based producer said: “There can be no assurance that our plan to improve our operating performance and financial position will be successful.” Peabody has undertaken a huge programme of cost-cutting in recent years to stave off a massive crash in the price of the commodity.
  • Richard Russell – The Key To The Bull Market In Gold & The Bear Market In Global Stock Markets
    Late last year, Richard Russell gave us the key to the bull market in gold and the bear market in global stock markets.  This is the second in a series of releases KWN will be publishing on the wisdom passed down from the Godfather of newsletter writers. From legendary Richard Russell:  “I want to start this site off with a bow to Fred Hickey, who puts out The High Tech Strategist. Hickey is a prodigious worker and reads everything. Fred is a true believer in gold and I read his work carefully. Americans are scared to death and befuddled by the news of the day. They are well aware that their own lives and jobs have little to do with the nonsense that the Fed and the government is shoveling out to them.
  • Peter Boockvar – Fed Suspends Reality As The Rush To Gold Continues
    On the heels of the Fed’s decision not to raise rates, today Peter Boockvar sent King World News a fantastic piece discussing the Fed’s decision and the subsequent surge in the gold market. Peter Boockvar:  For the past few years the Fed has been chipping away at the concept that they are driving monetary policy dependent on the data that they see. We know that because they kept changing the rules of the game in that every time a goal was reached the goal was altered. Well, I believe it is safe to say that after yesterday’s FOMC statement, the Yellen press conference and what was said in them, the communication and structural strategy of ‘data dependency’ has been officially neutered. The Fed’s goal is now a perfect world. As we of course will never get there, the rest of us are left flying blind as to what to expect from monetary policy…
  • Why Global Debt Growth May Extend The Oil Glut
    In this post I present some selected parameters I monitor which may help understand near term (2-3 years) oil price movements and levels. It has been my understanding for some time that the formulations of fiscal and monetary policies affect the commodities markets. Changes to total global debt has and will continue to affect consumers’/societies’ affordability and thus also the price formation of oil.
  • Political Turmoil Rages in Brazil, Puts Oil Industry On Edge
    More than 3 million people protested in the streets of major cities across Brazil on March 13, numbers that may have exceeded even the massive rallies that took place at the end of the country’s military dictatorship in the mid-1980s. The population is fed up with corruption, fed up with the ruling party, and are seeking the ouster of President Dilma Rousseff.
  • The Terrible Oil News Nobody Noticed
    A terrible bit of news went unnoticed in the commotion amid the rebound in oil prices over the past two weeks. While every news outlet shouted about Iran and OPEC, a U.S. energy icon quietly announced news that could potentially shatter the industry. As I’ve explained recently, many oil companies are teetering on the brink of bankruptcy. But news out of Alaska could lead to disaster. BP Prudhoe Bay Royalty Trust (BPT) – operated by the Alaskan division of oil giant British Petroleum (BP) – sells oil from the Prudhoe Bay oilfield.
  • The Wisdom Of Jesse Livermore As Gold And Silver Surge Strongly After Fed Decision
    On the heels of the Fed’s decision not to raise rates, gold soared more than $30 and silver surged as well, and the U.S. dollar tumbled. But even with the recent positive action in the gold and silver markets, what some of the gold and silver community are struggling with at this point is exercising patience.  Some have been selling positions and moving to the sidelines, waiting for the next shoe to drop.  While there will be pullbacks, KWN readers around the world need to understand that you don’t want to give up your position at the beginning of a new bull market…
  • And this is When the Jobs “Recovery” Goes Kaboom
    The future for employment looks bright. The gig economy is firing on all cylinders. The FOMC, in its statement concerning its interest rate decision today, was practically gleeful about employment and where it’s headed: A range of recent indicators, including strong job gains, points to additional strengthening of the labor market. The Committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market indicators will continue to strengthen.
  • Fleckenstein – Silver May Be About To Scream Higher As People Lose Confidence In Idiot Central Bankers
    With many people wondering what’s next for the markets, today Bill Fleckenstein warned silver may be about to scream higher as people lose confidence in idiot central bankers. Despite the Fed’s dovishness, overnight markets were mostly lower, though that did not seem to matter too much to the SPOOs or trading here, as the indices were not very far from unchanged through midday, with the Dow and the S&P slightly higher and the Nasdaq a touch lower. In the afternoon they all marched higher still. By day’s end the Dow/S&P gained about 0.75% (with the Nasdaq just up fractionally despite decent strength in lots of speculative names, especially chips)…
  • WTI Crude Slides Back Into Red For 2016 As The Fed And Oil Remain On Unsustainable Paths
    Oil prices have increased 50 percent since the lows exhibited earlier this year, a rise that is largely linked to the positive market reaction to the OPEC output freeze. But WTI Crude has given up all its early morning “see oil is fixed” gains in a hurry as once again the algo ramps give way to the realization that, as OilPrice's Leonard Brecken notes, comes even as for all intents and purposes OPEC has nearly reached its production limits and Iran still plans in increasing output.
  • The Stunning Size Of China's Housing Bubble In One Chart
    Over the past month we have documented the surreal reemergence of China's latest housing bubble (recall the first one burst in early 2014 which forced Beijing to reflate the stock market bubble, which also burst over a year later). But nothing does China's housing bubble justice quite like a simple chart showing what is going on right now with home prices in Shenzhen, which incidentally also puts the housing bubble in the context of China's recently burst stock market bubble. No comment  necessary.
  • ALERT: Gerald Celente Issues Trend Forecast On Gold And The Fed
    The top trends forecaster in the world just announced a trend alert for gold and the Fed! He also discusses the unprecedented moves by central banks. Gerald Celente – Once upon a time, in a pre-smartphone and Facebook Age, workers of the world with a little extra cash did what the millennial generation would never dream of and probably never heard of. They’d deposit their money in savings accounts or buy certificates of deposit…
  • Caterpillar cuts Q1 earnings, revenue guidance
    Caterpillar on Thursday cut its first-quarter earnings and revenue guidance, but said it remains comfortable with its prior full-year forecast. Shares of Caterpillar fell more than 3 percent in premarket trading on the news. (Get the latest quote here.) The world's largest construction and mining equipment maker's giant said it expects quarterly adjusted earnings of 65 cents to 70 cents a share, sharply lower than Street expectations of 97 cents a share. Revenue was forecast at $9.3 billion to 9.4 billion for the quarter, below expectations of $10.4 billion.
  • U.S. current account deficit narrows in fourth quarter
    The U.S. current account deficit narrowed in the fourth quarter, but the improvement is unlikely to be sustained as a strong dollar continues to undercut exports of goods. The Commerce Department said on Thursday the current account deficit, which measures the flow of goods, services and investments into and out of the country, fell 3.6 percent to $125.3 billion. The third-quarter deficit was revised up to $129.9 billion from $124.1 billion. Economists polled by Reuters had forecast the current account deficit falling to $118.9 billion in the fourth quarter. For 2015, it totaled $484.1 billion, the largest since 2008.
  • Is This Why Yellen Went Full-Dove: U.S. Hiring Plunges Most Since November 2008
    While the BLS' JOLTs report usually gets a B-grade in terms of importance due to its one-month delayed look back (we just got the  January report which is one month behind the most recent payrolls number) it serves an important function due to its breakdown of various labor components such a job openings, new hires, separations, quits and terminations, all of which make up Janet Yellen's “labor dashboard.” In fact, according to Yellen herself, the JOLTs data is as important, if not more so, than the BLS report. Which may explain why yesterday the Fed surprised as dovishly as it did. As a reminder, the key number most look for in the monthly JOLTs report is the number of Job Openings: for January the BLS reported a print of 5,541K, which modestly beat the expected 5,500K consensus number.
  • Luxury jeweler Tiffany's profit beats estimates as costs fall
    Upscale jeweler Tiffany & Co (TIF.N) reported a better-than-expected profit for the holiday quarter as it raised prices and benefited from lower prices of diamonds, gold and silver. Shares of the company, which became a household name due to the 1961 Hollywood classic “Breakfast at Tiffany's”, rose as much as 4 percent in morning trading on Friday. Weakness in the global economy and a strong dollar have hurt Tiffany and other luxury retailers such as Nordstrom Inc (JWN.N), Neiman Marcus Group and Macy's Inc-owned (M.N) Bloomingdale's as tourists shy away from buying high-end items.
  • Consumer Sentiment Index Falls For Third Straight Month
    Consumer sentiment unexpectedly fell for a third straight month in March, according to the latest University of Michigan survey, as Americans suspect that the era of cheap gas is ending. That’s a bad sign for consumer spending from Apple (AAPL) iPhones to Tiffany (TIF) jewelry. The Michigan sentiment index’s flash reading was 90, down 1.7 points from the February’s final reading of 91.7, January’s 92 and December’s 92.6. It’s the lowest reading since October. Wall Street expected a flash March reading on 92.2. The index hit 95.9 in April, the highest since January 2007, but quickly retreated to 87.2 in September.
  • The Economic Recovery: A Myth Built Upon a Myth
    No matter how much data you point to showing the health of the US economy isn’t as good as advertised, you will inevitably hear the refrain, “But look at the jobs numbers!” Just the other day, Peter Schiff appeared on Fox Business and said the US economy is likely already in recession. Peter repeated his prediction that the Fed wasn’t going to raise rates again, but would instead drop them to zero. National Alliance Securities Global strategist Andy Brenner was having none of that. He insisted the Fed would raise rates at least two more times this year because the economy is doing OK. And what was his proof? You guessed it – jobs! Peter made mincemeat out of Brenner’s argument, pointing out that most of the new jobs in the February report were part-time and low paying.

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Latest News Articles – March 17, 2016

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Lindsey Williams - Latest News Articles

Latest News From March 11, 2016 to March 17, 2016:

  • Record Swings of Deflation and Inflation Coming-Michael Pento
    Money manager Michael Pento says the Fed and other global central banks are “not going to stop manipulating the markets.” Pento explains, “There is no escape from the manipulation by central banks and manipulation of asset prices. There is no escape of manipulation of interest rates, of money supply growth, of stock values and of bond prices. They can never stop. . . . Just a hint that this massive manipulation of all markets and asset classes might end someday sends them crashing. So, there is no escape in Japan, China, Europe and the United States. That means we are headed for massive bouts of wild swings between inflation and deflation, the likes of which we have never before seen in the history of economics.”
  • This Chart Shows the First Big Crash Is Likely Just Ahead
    The story on Wall Street and CNBC continues to be that we’re in a correction and this is a buying opportunity. Even Warren Buffett joins the chorus of stock market cheerleaders for the skeptical public. Well, I agree with the skeptical public, not the experts here! The bull market from early 2009 into May 2015 looks just like every bubble in history, and I’m getting one sign after the next that we did indeed peak last May.
  • What’s in Store for the Real Economy
    The Census Bureau announced today that total business sales in January did what they’d been doing relentlessly for the past one-and-a-half years: they fell! This time by 1.1% from a year ago, to  $1.296 trillion, and by 5% from their peak in July 2014. They’re now back where they’d been in January 2013. Sales are adjusted for seasonal and trading-day differences, but not for price changes. And since January 2013, the consumer price index rose 2.8%! This is why the US economy has looked so crummy. That’s bad enough. But it gets much worse.
  • U.S. Consumer Prices Fell in February
    U.S. consumer prices fell in February due largely to a slide in gasoline prices, but other evidence pointed to steadily building inflation pressures that could reassure the Federal Reserve as it considers raising short-term interest rates. The consumer-price index, a gauge of what Americans pay for everything from refrigerators to dental care, declined 0.2% over the month, the Labor Department said Wednesday. Overall prices haven’t risen since November and are up just 1% over the past year.
  • U.S. industrial output resumes downturn in February
    After hopeful signs of stabilization in January, industrial production decreased 0.5% in February, according to data released by the Federal Reserve on Wednesday. Economists polled by MarketWatch had expected a 0.6% fall in industrial output for February. The Fed revised January’s strong gain in output to 0.8%, down a tad from the 0.9% gain initially estimated. Many analysts said the details were not as disappointing as the headline.
  • US Recession Data Signals It's A Very Short Road To Capital Controls
    “Prosperity is like a Jenga tower. Take one piece out and the whole thing can fall.” That’s a direct quote from John Williams, the President of the San Francisco Federal Reserve Bank in a speech he gave a few weeks ago. He could have just as easily been talking about propaganda. The Fed, the White House, Wall Street, the media have a vested interest in peddling a certain narrative about the economy. The narrative goes something like this: “Everything’s awesome. Stop asking questions”. But if you look at their own data, the numbers tell a different story.
  • China Freight Index Collapses To Fresh Record Low
    The Baltic Dry Index has risen for the last few weeks, buoyed by hopes (a la Iron Ore) of a National People's Congress stimulus surge from China. While the scale of the ‘bounce' is negligible in real terms compared to the total collapse, it has caused such momentum-muppets as Jim Cramer to proclaim China ‘fixed' and investible. So we have one quick question – if everything is awesome, why did the China Containerized Freight Index just crash to new record lows? It appears BDIY gets over-excited relative to CCFI…
  • US Government Blames 9/11 On Iran, Fines Iran $10.5 Billion; Iran Refuses To Pay
    On March 14th, Iran announced that it will never pay the $10.5B that a U.S. court demanded it pay for the 9/11 attacks. The same Bill-Clinton-appointed judge who had ruled, on 29 September 2015, that Saudi Arabia has sovereign immunity for 9/11 and so can’t be sued for it, ruled recently, on March 9th that Iran doesn’t have sovereign immunity and fined Iran $10.5 billion to be paid to 9/11 victims and insurers; but, on March 14, Iran’s Foreign Ministry said Iran won’t pay, because, as the Ministry’s spokesman Hossein Jaberi Ansari put it, “The ruling is ludicrous and absurd to the point that it makes a mockery of the principle of justice while [it] further tarnishes the US judiciary’s reputation.”
  • RBS to cut almost 450 investment banking jobs in UK
    Royal Bank of Scotland is cutting 448 investment banking jobs in the UK, moving two-thirds of them to India. The bank, 73% of which is owned by the taxpayer, said it would cut back- and middle-office roles in its investment bank, including a small number of technology jobs. Under its chief executive, Ross McEwan, RBS has been shrinking the division to focus on its personal and small business operations in the UK and Ireland.
  • US retail sales dip in Feb.; Barclays slashes GDP view
    U.S. retail sales fell less than expected in February, but a sharp downward revision to January's sales could reignite concerns about the economy's growth prospects. The Commerce Department said on Tuesday retail sales dipped 0.1 percent last month as automobile purchases slowed and cheaper gasoline undercut receipts at service stations.
  • Japanese Gold Buying Spree Confirms Negative Interest Rates Good for Gold
    Over the last several weeks, we’ve been building the case that negative interest rates are good for gold, and mainstream analysts have echoed our thoughts. Last week, Britain’s largest bank, HSBC, issued a statement saying the longer the world’s central banks continue to experiment with negative interest rates, the better the outlook for gold.
  • US Business Inventory-Sales Ratio Jumps To Post-Crisis (7 Year) High
    Following the recessionary surge in Wholesale Inventories-to-Sales ratio, this morning's Total Business inventories-to-sales rose to 1.40x – the highest since May 2009. With a 0.4% slump in sales and 0.1% rise in inventories, the smell of recession lays heavy on US businesses… but then again – who cares if Draghi can keep buying ‘assets' and saving the world?
  • Unpaid subprime car loans hit 20-year high
    Americans with lower credit scores are falling behind on auto payments at an alarming pace. The rate of seriously delinquent subprime car loans soared above 5% in February, according to Fitch Ratings. That's worse than during the Great Recession and the highest level since 1996. It's a surprising development given the relative health of the overall economy. Fitch blames it on a dramatic rise in loans with lax borrowing standards that have helped fuel the recent boom in auto sales. More Americans bought new cars last year than ever before and the amount of auto loans soared beyond $1 trillion.
  • Ackman takes $1B hit as Valeant tumbles 49%
    Somebody give Bill Ackman an aspirin. Better make it a double. The embattled hedge fund mogul saw the value of his investment in Valeant Pharmaceuticals fall by $766 million on Tuesday after shares of the troubled company fell by 51 percent in the wake of three troubling disclosures.
  • Gold Falls as Investors Lock in Gains Ahead of Fed Meeting
    Gold prices fell Monday, as investors locked in gains on the precious metal ahead of this week’s Federal Reserve meeting. Gold for May delivery closed down 1.1% at $1,245.10 a troy ounce on the Comex division of the New York Mercantile Exchange.
  • The Cashless Society – Keynesian “Stability” Vs Trumpian Turmoil
    In this article, Claudio Grass, Managing Director at Global Gold Switzerland, talks to economist and Mises Institute Senior Fellow Thomas DiLorenzo. This exclusive interview covers central bank monetary policies, Keynesian economics, the economic“recovery,“ political correctness, and much more.
  • The Liquidity Endgame Begins: Whiting's Revolver Cut By $1.2 Billion As Banks Start Slashing Credit Lines
    Earlier today we reminded readers about the circular (and why note fraudulent conveyance) scheme hatched by JPMorgan to reduce its secured loan exposure to Weatherford, when just two weeks ago none other than JPM underwrote an WFT equity offering in which it sold equity in the company, and which proceeds were promptly used by the company to repay the JPMorgan revolver. We then showed that it wasn't just Weatherford: most of the “uses of funds” from the recent record surge in oil and gas equity offerings, have been used to repay the secured debt/revolver facilities, thereby eliminating funded and unfunded balance sheet exposure of major US banks.
  • Having Killed Their Equity Market, China Unleashes “Tobin Tax” For FX Market
    In September last year, Chinese regulators stepped on the throat of a ‘fair' market in equity futures trading and for all intent and purpose killed the Chinese equity market. Tonight – after 2 days of Yuan weakness – having warned everyon from Soros to Kyle Bass that “betting against the Yuan can't possibly work,” The PBOC just unleashed plans for so-called “Tobin Tax” on FX transactions (which implicitly taxes each transaction, reducing liquidity, raising margins and reducing leverage). Deputy central bank governor Yi Gang raised the possibility of implementing a Tobin tax late last year in an article written for China Finance magazine, and now, as Bloomberg reports, it is on!
  • Trump is a Picky Eater Who Sleeps 3 Hours a Night and Hates Sloppy Dressers, His Ex-Butler Says
    What is it like serving at Donald Trump's beck and call? The billionaire’s former butler Tony Senecal has much to tell — like when a young Mr. Trump and first wife Ivana, had four butlers waiting on them hand and foot. Senecal, who served Trump for almost 20 years, told IE: “After Mr. Trump and Ivana got a divorce, we were going over to his room one night and he said: ‘Tony, do I need four butlers?' and I said: ‘As long as it's me Mr. Trump you only need one.’ He got rid of the other three.” Senecal describes Trump as a man always on the move and rarely relaxes. “I'm going into the room to clean it after he's gone and he's re-arranged the closet. And the clothes are all on the floor that he wants to get rid of,” he said. The former butler said that Trump is always busy because he is “always thinking.”
  • “It's The Q2 2015 Rally All Over Again” – Morgan Stanley Warns Big Oil Drop Imminent Due To “Rampant Hedging”
    One week ago, the market was disappointed when Goldman's head commodity strategist, Jeffrey Currie pointed out the obvious, namely that the higher the price of oil rises, the greater the probability it will tumble shortly, as a result of recently shut off production going back online. To wit: Last year commodity prices were driven lower by deflation, divergence and deleveraging which were reinforcing through a negative feedback loop. Deflationary pressures from excess commodity supply reinforced divergence in US growth and a stronger US dollar which in turn exacerbated EM funding costs and the need for EMs to de-lever though lower investment and hence commodity demand. While we believe that these dynamics likely ran their course last year resulting in signs of rebalancing, the force of their reversal has created a new trend in market positioning that could run further. However, the longer they run, the more destabilizing they become to the nascent rebalancing they are trying to price.
  • Bloomberg Stumbles On The “Only One Buyer Keeping The Bull Market Alive”
    Last week, when Bloomberg was celebrating the 7 year anniversary of the third longest, most central bank-supported, and thus “most hated” bull market in history, it said that  “investors are awash in angst, showing little faith the run can continue. They worry about contracting corporate earnings, slowing Chinese growth and uncertainty over interest rates. And they’re walking the talk by pulling cash from stocks at almost the fastest rate on record. It’s not unwarranted – the S&P 500 has gained just 0.5 percent in the last 18 months.”
  • Stocks are climbing that ever-higher “wall of worry”
    It can hardly be denied that stocks are climbing that infamous “wall of worry”. Every day it seems, more and more doom-laden headlines appear in the media to suggest stocks are heading for an almighty fall. That is making my “headline indicator” (HI) start to twitch (as it has done recently for crude oil and gold). On Thursday afternoon, Mario Draghi unleashed his latest money-printing bazooka, and I made a few comments on Friday on how that related to the euro. Since then, there has been a veritable barrage of negative comment from the pundits on why central banks are out of ammo. Many conclude that the next crisis will see them powerless to stem the inevitable wave of selling.
  • Fed’s ‘Cocaine and Heroin Injection’ a Criminal Act-Gerald Celente
    Trends forecaster Gerald Celente says former Fed President Richard Fisher dropped an ominous truth bomb last week on CNBC. Celente says, “Last week, when it was a celebration of . . . 2009 and the markets started going up, Fisher says, quote, ‘We injected cocaine and heroin into the system to enable a wealth effect . . . and now we are maintaining it with Ritalin.’  Fisher also said, a few weeks ago, that ‘the Fed is a giant weapon that has no ammunition left.’  Let’s take his quote, and this is very important, ‘We injected cocaine and heroin into the system.’  You go back to our 2010 alert, and we said this was no recovery.  It was a cover-up.  What Fisher just said was a criminal act. Injecting cocaine and heroin into the system was a criminal act by the banking gang.”
  • Still not enough: US gov’t collects record $1.2 trillion in taxes, or over $8k per taxpayer
    Uncle Sam hauled in $1.248 trillion in taxes for the first five months of fiscal year 2016, costing each taxpayer $8,263, according a monthly Treasury Department statement. Even after adjusting for inflation, however, the government is still in the red. The federal government collected more money between October 2015 and February 2016 than it did any other five months in history, said the Treasury statement, released on Thursday. The US fiscal year begins on October 1 and runs through September 30.
  • Obama makes case for gov access to all digital devices to prevent terrorism and tax cheats 
    Without mentioning the government’s case against Apple directly, President Barack Obama told a Texas audience that mobile devices should be built such a way that the government can access them in order to prevent a terrorist attack or enforce tax laws. “The question we now have to ask is: If technologically it is possible to make an impenetrable device or system where the encryption is so strong that there is no key, there’s no door at all, then how do we apprehend the child pornographer, how do we solve or disrupt a terrorist plot?” Obama said during a question and answer session at the South by Southwest Interactive festival in Austin, Texas on Friday, according to Reuters.
  • Trend Forecaster Gerald Celente Warns: Prepare For The Panic Of 2016: “History Will Remember This”
    Earlier this week hedge fund manager Marin Katusa explained that up until the recent stock market hit all the easy money flowing into the energy sector was being exuberantly spent on hookers, blow and fancy toys. Now, as oil prices hover under $40 per barrel, Katusa said more pain is likely coming and oil, along with other asset classes, are going to go “lower for longer.” In a recent interview with Future Money Trends, trend forecaster Gerald Celente echos Katusa’s concerns. Having accurately predicted the Crash of 2008 nine months ahead of the bottom falling out on a global scale, Celente says another panic is coming this year.
  • Credit Card Debt In The United States Is Approaching A Trillion Dollars
    For the first time ever, total credit card debt in the United States is approaching a trillion dollars.  Instead of learning painful lessons from the last recession, Americans continue to make the same horrendous financial mistakes over and over again.  In fact, U.S. consumers accumulated more new credit card debt during the 4th quarter of 2015 than they did during the years of 2009, 2010 and 2011 combined.  That is absolutely insanity, because other than payday loans, credit card debt is just about the worst kind of debt that consumers could possibly go into.  Extremely high rates of interest, combined with severe penalties and fees, can choke the financial life out of almost any family in no time at all.
  • Beware: The market’s ‘crystal ball’ just turned from bullish to bearish
    Once again, the stock market’s crystal ball proved to be deadly accurate. About a month ago, I wrote that the option premiums on the Volatility Index (“VIX”) were slanted highly in favor of a lower VIX. And because a lower VIX usually means a higher stock market, I argued the market’s crystal ball – VIX option prices – was predicting a rally in stocks…
  • Until this happens, keep buying gold: Gartman
    Gold is up nearly 20 percent in 2016, and that has veteran trader Dennis Gartman urging investors not to sit out on the rally. “The trend is up, the trend has been up for the last several months and I continue to think that as long as the monetary authorities are going to remain as expansionary as they are [this trend will continue],” the editor and publisher of The Gartman Letter said in an interview with CNBC's “Futures Now” on Thursday. “Monetary expansion equals higher gold prices.”
  • Jim Rogers: ‘This isn’t the end of the correction in gold’
    I recently had a chat with fellow Singapore resident Jim Rogers, one of the most successful investors in history. Jim co-founded the Quantum Fund, one of the world’s most successful hedge funds. After the fund generated returns of more than 4,200% over 10 years, Rogers quit full-time investing. He went on to drive around the world, literally, and write several excellent books that blend travelogue, investment insight, and political commentary. Today, Jim is viewed as one of the founding fathers of the boots-on-the-ground approach to investing in emerging and frontier markets around the world.
  • Secret Monetary Group Warns a Catastrophe Is Coming
    The Bank for International Settlements is nothing if not obscure. As the central bankers’ bank, it seems little-more than a back-door, private club for monetary elites to rub shoulders. And it’s located in Switzerland which has always carried a reputation for financial secrecy. Then it has this going for it – John Keynes of “Keynesian economic theory” opposed its dissolution back in the 1940s. His was the kind of thinking that has largely influenced central banks to hijack our economies with manipulative monetary policies! So you’d probably think I hate these guys.
  • Bundesbank Fears “Doom Loop”
    “ECB barrel-scraping getting louder” – that’s what Daiwa Capital Markets called it. But those acts of desperation, as sweet as they seem to the markets, had slammed into opposition at the German Bundesbank. And now “people familiar with the matter” and a “central bank source” are talking to the Wall Street Journal to air their concerns. Yesterday, the ECB bent over backwards to increase the negative interest rate absurdity, given how well it has been working so far. It cut its deposit rate one notch to negative 0.4%. That was less than expected. But it also added a slew of “surprises” intended for the markets to feed on and soar.
  • SILVER OUTBREAK: Investment Demand Will Totally Overwhelm The Market
    It's no secret to the precious metal community that silver is one of the most undervalued assets in the market, however 99% of Mainstream investors are still in the dark. This was done on purpose to keep the majority of individuals invested in Wall Street's Greatest Financial Ponzi Scheme in history. You see, this is the classic PUMP & DUMP strategy. Unfortunately, it's not a lousy penny stock that Wall Street is pumping, rather it's the entire market. Most pump & dump stock campaigns last a day, week or a few months. Sadly, this one has gone on for decades and the outcome will be disastrous for the typical American.
  • “Gloom” Returns To China's Economy: Industrial Production, Retail Sales Miss Lowest Estimates
    After an unprecedented surge in Chinese attempts to stimulate the economy in late 2015, mostly on the fiscal side, coupled with recent monetary easing by the PBOC which cut the banks' reserve ratio recently and unleashed a tsunami of new loan creation in January, many expected that this unprecedented credit impulse would translate into at least a modest rebound for the economy, prompting a stable pick up in spending for the economy which many are touting is now consumer-spending driven as opposed to export and production.
  • From Champs To Chumps: Latin America Oil Giants Owe $275 Billion
    The Latin American state-run oil companies whose largesse filled government coffers from Mexico to Brazil during the crude boom of the previous decade are quickly becoming dangerous liabilities as soaring debt levels spook investors. Regional leaders are being forced to shelve plans to spend petro-cash on popular projects after oil prices plunged more than 50 percent in the past two years and are instead grappling with mounting bills at their state-backed champions. The burden is being amplified as local currencies crumble against the dollar, driving up the cost of to pay off foreign debt.
  • A Right Way and a Wrong Way to Weather “The War on Cash”
    Many people have been talking recently about the “war on cash.” With policymakers seriously talking about eliminating cash, it can be worrisome. But there is a way to avoid the consequences of the “war on cash. You just need to pick the right strategy. With the endless lowering of interest rates and the possibility that they could turn negative, there is more incentive than ever for people to pull their dollar savings from banks and just hold on to the paper cash at home. After all, why risk your dollars in a bank that yields zero return or even charges you to hold your money? As a result, people are buying up safes, pulling their dollars out of the bank, and storing them at home.
  • Why Negative Rates Can’t Stop the Coming Depression
    Are you ready to pay to save? Agora founder Bill Bonner explains why “negative interest rates” are spreading around the world…and could soon come to the U.S. Negative interest rates are a disaster story in the making. And they will only speed up the major monetary collapse we believe is coming. Bill believes the fallout from his catastrophe will be far worse than 2008. When it hits, every service you’ve come to depend on – your bank…your grocery store…your Social Security checks – will shut down.
  • U.S. import prices fall for eighth straight month
    U.S. import prices fell in February for an eighth straight month, weighed down by declining costs for petroleum and a range of other goods, but the pace of decline is slowing as the dollar's rally fades and oil prices stabilize. The Labor Department said on Friday import prices slipped 0.3 percent last month after a revised 1.0 percent decrease in January. Import prices have decreased in 18 of the last 20 months, reflecting a robust dollar and plunging oil prices. They were down 6.1 percent in the 12 months through February. That was the smallest year-on-year drop since December 2014. Economists polled by Reuters had forecast import prices slipping 0.6 percent last month after a previously reported 1.1 percent fall in January.
  • China's yuan hits 2016 high on strong fixing, global US dollar weakness
    China's onshore yuan on Friday (March 11) hit its strongest level against the US dollar in 2016, buoyed by the central bank's firmest midpoint this year and the greenback's slide after the European Central Bank suggested it was done cutting rates for now. Offshore yuan strengthened 0.3 per cent from Thursday to hit its highest level since early December at 6.4733 just before midday. The onshore yuan hit 6.4866 in late morning trade, its highest level since Dec. 29. Its previous 2016 peak was 6.4880, on Feb 15.
  • Silver Could Be Poised to Come Out of the Shadows
    While there’s been a lot of attention focused on gold over the last few months, silver has remained in the shadows. The white metal has lagged a bit behind as the gold market turned bullish over the last few months. But there are some good reasons to take a close look at silver. According to Bloomberg, silver has advanced 10% since the first of the year while gold surged 18%. But dynamics look good for silver to close that gap: “Silver hasn’t been so cheap relative to gold for more than seven years and with mine supplies forecast to contract this year that may be a sign it’s ready to come out of the yellow metal’s shadow.”
  • Men's Wearhouse parent closing 250 stores
    Shares of Tailored Brands, formerly known as Men's Wearhouse, jumped more than 11 percent in early trading Thursday, a day after the company announced plans to close roughly 250 stores this year. That includes shuttering 80 or 90 full-price Jos A. Bank stores. The announcement followed worsening sales trends at that label in the fourth quarter, with the company adding that it expects weakness there to continue into 2016. Revenues at Jos. A. Bank have gotten whacked since the company ended its ubiquitous Buy One Get Three Free promotion in October.
  • The World Economy Wreckers Of Beijing
    The desperate suzerains of the Red Ponzi are incorrigible. There appears to be no insult to economic rationality that they will not attempt in order to perpetuate their power, privileges and rule. So now comes the most preposterous gambit yet. Namely, a veritable tsunami of state handouts to foster, yes, capitalist entrepreneurs! That’s right. As described by Bloomberg, Premier Li Keqiang  gave the word, and, presto, nearly $340 billion poured into an instantly confected army of purported venture capital funds run by local government officialdom all over the land.
  • German bank that almost failed now being paid to borrow money
    German bank Berlin Hyp had just issued 500 million euros worth of debt… at negative interest. I wondered if I really did go through a time warp, because this is exactly the same madness we saw ten years ago during the housing bubble and the subsequent financial crisis. To explain the deal, Berlin Hyp issued bonds that yield negative 0.162% and pay no coupon. This means that if you buy €1,000 worth of bonds, you will receive €998.38 when they mature in three years. Granted this is a fairly small loss, but it is still a loss. And a guaranteed one. This is supposed to be an investment… an investment, by-the-way, with a bank that almost went under in the last financial crisis. It took a €500 billion bail-out by the German government to save its banking system. Eight years later, people are buying this “investment” that guarantees that they will lose money.
  • ECB cuts rates to new low and expands QE
    The European Central Bank has unveiled a series of new measures to strengthen the eurozone’s recovery, with policy makers expanding their quantitative easing package and cutting benchmark interest rates to a new low. The ECB has raised the amount of bonds the eurozone’s central bankers buy each month under QE from €60bn to €80bn — a greater amount than many analysts had expected. It also expanded the range of assets it will buy to include corporate bonds. At the moment, the ECB buys mostly government debt alongside smaller amounts of bundles of smaller loans repackaged into asset-backed securities and covered bonds. The central bank’s governing council also cut its deposit rate by 10 basis points to minus 0.4 per cent. The main refinancing rate fell by 5 basis points to 0 per cent. The move, which was towards the low end of markets’ expectations, in effect raises the fee charged on some bank deposits parked at central banks in the Eurosystem.
  • Former Reagan Advisor: Congress Just “Hatcheted” Your Social Security Benefits
    While it went virtually unnoticed, Section 831 of the House's new budget bill could radically change your Social Security benefits as soon as May 1. This change will affect the benefits that as many as 21.3 million Americans could be eligible for, instantly. It could change your chosen retirement date. It could change the way you vacation. It could change your entire financial future…
  • Bear Market 2016 Will Get Worse for One Major Reason
    During a four-day rally last week, the Dow Jones Industrial Average climbed 490 points. And that was just the most recent surge in the index's 1,200-point recovery since its dismal start in early January. While the signs of a rebound were encouraging, Money Morning experts say “bear market 2016” isn't close to being over. “Despite some moderately positive economic news last week, the global economy remains depressed and the prospects for significantly higher stock prices are low,” Money Morning Global Credit Strategist Michael Lewitt said.
  • The Stronger U.S. Dollar Is Actually Destroying the Markets
    The U.S. dollar remains the most important financial instrument in the world. The dollar rally has been the single most decisive factor in determining economic growth (or weakness) and market direction since early 2014. And – right now – that's not a good thing. Don't listen to Alan Ruskin, the macro strategist from Deutsche Bank (need I say more?) who posits that the strengthening dollar is largely a positive, since it's paired with an “improving labor market” and a “lower misery index.” He's looking for misery in all the wrong places.
  • Terminally ill face being forced to do work experience or lose their benefits
    Terminally ill people face being forced to work to keep their benefits under draconian new Government plans, it was revealed yesterday. Cancer patients who have more than six months to live could have to do work experience or see their payments slashed under the scheme by Work and Pensions Minister Iain Duncan Smith.
  • Number of people on zero-hours contracts in UK increases to 801,000
    The number of workers on zero hours contracts in the UK has increased by 15 per cent in the last three months of 2015 compared with a year earlier, an increase of 104,000 contracts, according to the latest figures from the Office for National Statistics. One in 40 UK workers is on a contract that does not guarantee a minimum number of hours, the figures show. Some 801,000 workers were on zero-hours contracts in the UK from October to December 2015, or 2.5 per cent of people in employment, compared to 697,000 workers in the same period in 2014. Part of the increase may be accounted for by additional recognition of the term zero-hours, the ONS said, rather than new contracts.
  • Jim Rogers Says 100% Probability US Is Heading for Recession; Data Backs Him Up
    Media and government officials keep telling us the economy looks great, but a peek behind the curtain tells a different story. Some people do see the writing on the wall. Peter Schiff has been saying the US may well have already entered a recession. Last month, Jim Grant echoed Peter, saying the US economy likely went into recession in December 2015. And in a recent interview, Rogers Holdings Chairman Jim Rogers said there is a 100% probability the US will be in a downturn within a year: “It’s been seven years, eight years since we had the last recession in the US, and normally, historically we have them every four to seven years for whatever reason—at least we always have. It doesn’t have to happen in four to seven years, but look at the debt, the debt is staggering.”
  • This chart explains how the Baltic Dry Index could spell doom for the global economy
    Even if you follow markets and global economics news, you still may not know what the Baltic Dry Index (BDI) is and why it matters. You might guess it's related to shipping – and you'd be right. The BDI is a very useful gauge of global trade, and tells you how much it costs to move goods around the world in massive ships. These goods can be pretty much anything: iron ore, grain, coal … stuff the world needs to build things and function. As such, analysts keen to predict how the health and future of the global economy like to pay close attention to it.
  • Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year
    We just got more evidence that global trade is absolutely imploding.  Chinese exports dropped 25.4 percent during the month of February compared to a year ago, and Chinese imports fell 13.8 percent compared to a year ago.  For Chinese exports, that was the worst decline that we have seen since 2009, and Chinese imports have now fallen for 16 months in a row on a year over year basis.  The last time we saw numbers like this, we were in the depths of the worst economic downturn since the Great Depression of the 1930s.  China accounts for more global trade than any other nation (including the United States), and so this is a major red flag.  Anyone that is saying that the global economy is in “good shape” is clearly not paying attention.
  • China Resorts to “Stealth Interventions” to Prop Up Yuan and Stock Market
    A record $1 trillion or so has fled China in the last year or so. Official reserve data is masked, so it’s difficult to pin a precise number. We do know the official monthly drain is the smallest since June, but Daiwa Capital Markets believes PBOC Using Stealth Intervention as Reserves Decline.
  • Crackpot Valuations
    The markets are eerily quiet. With so many trends and facts to titillate us all, you’d expect a little more excitement. As it is, the big sell-off at the start of the year seems incomplete – a kind of financial foreplay without the climactic battering of a real bear market. What to make of it?
  • A $10 billion hedge fund is bracing for a 2008-type event
    Perry Capital, a $10 billion New York-based multi-strategy hedge fund led by Goldman Sachs alum Richard Perry, is preparing for another credit event like 2008. Perry Capital bought $1 billion worth of credit-default swaps (CDS) on about 10 investment-grade corporate bonds, The Wall Street Journal reported last month. Investment-grade bonds have a rating of BBB or higher by Standard & Poor's or Baa3 or higher by Moody's. They are companies seen as having the safest balance sheets. Perry stands to profit if those companies are downgraded by ratings agencies.
  • Markets betting on near-zero interest rates for another decade
    World markets may have recovered their poise from a torrid start to the year, but their outlook for global growth and inflation is now so bleak they are betting on developed world interest rates remaining near zero for up to another decade. Even though the U.S. Federal Reserve has already started what it expects will be a series of interest rate rises, markets appear to have bought into a “secular stagnation” thesis floated by former U.S. Treasury Secretary Larry Summers. The idea posits that the world is entering a peculiarly prolonged period in which structurally low inflation and wage growth – hampered by aging populations and slowing productivity growth – means the inflation-adjusted interest rate needed to stimulate economic demand may be far below zero.

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Latest News Articles – March 10, 2016

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Lindsey Williams - Latest News Articles

Latest News From March 5, 2016 to March 10, 2016:

  • Central Banks Out of Bullets: THE GOLD BULL IS BACK
    The multi-year bear market for gold and silver mining stocks appears to be coming to an abrupt end as gold breaks important resistance. The GDX mining stocks ETF has moved from $12 to over $19 in less than two months. As we re-enter a GLOBAL gold bull market, smart money appears to be leveraging rising gold and silver prices through the precious metals mining company stocks. Amir Adnani, the founder and Chairman of Brazil Resources joins me to discuss his outlook for the precious metals mining sector and global economy. About the central bankers Adnani says “They’re out of bullets.” As the result of negative interest rates and endless fiat money printing, people are quickly turning back to real money, gold. Adnani believes we are at the very beginning of an historic gold bull market, the likes of which the world has never seen.
  • “Freedom Always Dies Bit by Bit”: Bundesbank Takes Sides in War on Cash
    There are two sides in the global war against cash. On one side are many of the world’s governments, central banks, fintech firms, banks, credit card companies, telecommunication behemoths, financial institutions, large retailers, etc. According to them, the days of physical currency are numbered, so why not pull the plug already, beginning with the largest denomination bills such as the $100-note and particularly the €500-note?
  • Oil Prices Up In Spite Of Crude Inventory Build
    On the 84th birthday of the most wonderful Keely Smith (no relation, by the way), the oil market is reversing yesterday’s losses and going ‘zooma zooma’ to the upside, despite an impending solid build to crude stocks from the weekly EIA inventory report.
  • How China Is About To Unleash A Monster Housing Bubble, In Six Easy Steps
    One week ago we showed the disturbing degree to which the latest (and greatest) housing bubble among China's Tier 1 has gripped the broader public, when we reported that local speculators are waiting in line for days to flip homes.
  • Jeff Gundlach on the global economy, the Fed's next move, and negative interest rates
    Jeff Gundlach held his latest webcast on markets and the economy, called “Connect the Dots,” on Tuesday. The big takeaways were: The Federal Reserve has no business raising rates right now. Markets aren't pricing in a hike this month in, and no one has forgotten the volatility that ensued after the first hike in December. The rally in risk assets is near its end. Stocks have 2% of upside but 20% of downside. And there's still time to wait for commodities to cheapen more before buying. There isn't a strong case for an imminent US recession. Negative interest rates are bad for the world. They are having the opposite effect on currencies like the Japanese yen, which has rallied instead. They are also hurting European banks.
  • OK, I Get it, this Stock Market Is Going to Be a Mess
    Just how overvalued are stocks, particularly small-caps? According to Wall Street, even the question is wrong. Stocks are never overvalued. They’re always a buy. The future looks bright. And even if it doesn’t look bright, analysts come up with “adjusted” earnings that are so brilliant that they blind even innocent bystanders. That’s how Wall Street justifies high stock prices.
  • Global Rig Count Continues To Tumble
    The rig count data in all charts below is through February 2016. The Baker Hughes International Rig Count does not include the U.S., Canada, any of the FSU countries or inland China. It does include offshore China. That rig count peaked in July 2014 at 1,382 rigs and in February stood at 1,018, down 364 rigs from the peak.
  • Gold Could Surge To $8,000/oz On Negative Interest Rates – Lassonde
    The gold bull market has returned and gold could surge over 1,000% to $8,000 per ounce in the coming years on ZIRP and NIRP according to legendary gold investor and industry insider Pierre Lassonde. Gold prices are heading higher, much higher and he is “very sure” that the five-year bear market for gold is over and we are at the beginning of a new bull market, the gold insider told leading Canadian business channel, BNN.
  • U.S. wholesale stocks rise, seen hurting growth in 2016
    U.S. wholesale inventories unexpectedly rose in January as sales tumbled, suggesting that efforts by businesses to reduce an inventory overhang could persist well into 2016 and restrain economic growth in the coming quarters. The Commerce Department said on Wednesday wholesale stocks increased 0.3 percent after being unchanged in December. Sales declined 1.3 percent, extending December's 0.6 percent drop. January's weak sales pace means it would take wholesalers 1.35 months to clear shelves, the highest inventory-to-sales ratio since April 2009, when the economy was in recession.
  • Deflation Is Coming To The Auto Industry As Used Car Prices Drop, Off-Lease Deluge Looms
    Last week, we learned that vehicle leasing as a percentage of monthly light-vehicle sales hit a record in February at 32.3%. In other words, a third of the over 1 million cars and light trucks “sold” during the month were leases, according to J.D. Power. This is indicative of what is now a long-term trend.
  • The Collapse Of Italy’s Banks Threatens To Plunge The European Financial System Into Chaos
    The Italian banking system is a “leaning tower” that truly could completely collapse at literally any moment.  And as Italy’s banks begin to go down like dominoes, it is going to set off financial panic all over Europe unlike anything we have ever seen before.  I wrote about the troubles in Italy back in January, but since that time the crisis has escalated.  At this point, Italian banking stocks have declined a whopping 28 percent since the beginning of 2016, and when you look at some of the biggest Italian banks the numbers become even more frightening.  On Monday, shares of Monte dei Paschi were down 4.7 percent, and they have now plummeted 56 percent since the start of the year.  Shares of Carige were down 8 percent, and they have now plunged a total of 58 percent since the start of the year.  This is what a financial crisis looks like, and just like we are seeing in South America, the problems in Italy appear to be significantly accelerating.
  • Britain will be ‘dragged along' into a European superstate if it stays in the EU, Boris Johnson warns
    Britain will find itself “dragged along” into an ever more integration European Union if it does not vote to leave, Boris Johnson has said. The Mayor of London wrote in his column for the Daily Telegraph newspaper that European federalists “mean it” when they said they wanted a full political union.
  • Saudi Arabia Suffers from Oil Recession, Looking to the US for Help
    When OPEC made the decision to maintain their levels of oil production, they did not expect such heavy losses themselves. Many have suspected that OPEC wanted to eliminate competition from American-based shale oil producers, and therefore, kept production high in order to lower the oil price. However, OPEC apparently did not foresee certain economic disadvantages that they would incur due to their actions.
  • Peter Schiff: $5,000 Gold is Coming
    Peter Schiff did an interview with Rick Wiles of TRUNEWS on Monday and said $5,000 gold is coming. Peter reiterated his belief that the economy is already in a recession, and Fed will drop rates back to zero. After that, he said the central bank will initiate another round of quantitative easing. He made his case by explaining how the jobs numbers aren’t nearly as good as the government spin-doctors are saying, pointing out evidence of looming stagflation ahead, and making a compelling case that another real estate crash is likely in the near-future.
  • Small-Business Owners' Confidence Wanes in February
    Small-business owners turned less confident about their economic prospects last month, with lackluster sales crimping margins and ongoing uncertainty over the economic outlook and political landscape pinching spending plans. The National Federation of Independent Business's small-business optimism index, based on a survey sent to about 5,000 owners, slipped 1 point to 92.9, the lowest level in about two years. In 2015, the gauge averaged 96.1.
  • Consumer Credit Growth Weakest Since March 2013
    Against expectations of a $17 billion surge, US consumer credit grew at just $10.5 billion – the weakest and biggest miss since March 2013. The biggest driver of this disappointment was an actual contraction in revolving credit (down $1.1 billion) for the first time since Feb 2015.
  • There's a ‘gathering storm' in the global economy and central banks are running out of options
    The Bank for International Settlements (BIS) — known as the central banks' central bank — is warning there's a “gathering storm” in the global economy, in part caused by governments around the world running out of monetary policy options. In two separate notes, published March 6, BIS economists highlighted the fragile global economic backdrop and said negative interest rates could become a reality for many more countries as central banks search for ways to stoke real growth and battle issues like tumbling oil prices hitting the economy.
  • Hillary’s Scary New Cash Tax
    The largest underground currency market in history…how to make huge investment gains from negative interest rates…none dare call it a tax.
  • More Paper Than Gold: Issuance of ETF Shares Suspended Due to Surging Metal Demand
    The world’s largest asset manager has temporarily suspended the creation of new shares of its gold ETF due to the demand for physical gold. BlackRock announced it would temporarily stop issuing new shares of Gold Trust (IAU) on Friday: “Since the start of 2016, in response to global macroeconomic conditions, demand for gold and for IAU has surged among global investors. IAU has $8 billion in assets under management, and has expanded $1.4 billion year to date. February marked its largest creation activity in the last decade. This surge in demand has led to the temporary exhaustion of IAU shares currently registered under the ’33 Act.”
  • Sweden Begins 5 Year Countdown Until It Eliminates Cash
    How much louder can the “ban cash” calls get? Recall it was just last year when we catalogued the growing cacophony of crazies for whom banning physical currency is the only way to ensure that depositors can’t simply reassert their economic autonomy under a low or zero rate regime. Put simply, if interest rates get too low, depositors will simply take their money out the bank and put it in the mattress or the safe where, to quote WSJ from last week, “interest rates are always low no matter what central bankers do. Most recently, Larry Summers called for the abolition of the $100 bill in the US and in Europe the €500 note is to go the way of the dinosaurs.
  • Worried about stocks? Don't watch so much: Buffett
    If investors are worried about their retirement savings after watching 2016's wild market fluctuations, Warren Buffett has some advice. “I would tell them don't watch the market closely,” the Oracle of Omaha said. The billionaire and philanthropist who has amassed a fortune of more than $64 billion tells CNBC's “On The Money” that buy-and-hold is the best strategy. “The money is made in investments by investing,” Buffett said in a recent interview, “and by owning good companies for long periods of time. If they buy good companies, buy them over time, they're going to do fine 10, 20, 30 years from now.”
  • The Nine Horsemen Of The US Recession Apocalypse
    “There are no signs of a US recession anytime soon”… apart from these nine charts that is…
  • The $15 Minimum Wage and the End of Teen Work
    A new report from JP Morgan Chase & Co. finds that the summer employment rate for teenagers is nearing a record low at 34 percent. The report surveyed 15 US cities and found that despite an increase in summer positions available over a two year period, only 38 percent of teens and young adults found summer jobs.
  • Death Of Paper Gold Picks Up Speed BIG TIME Today
    We may be finally witnessing the REAL ENDGAME TO PAPER GOLD MANIPULATION. The Death of the paper gold market picked up speed today as Blackrock announced that issuance of new Gold IAU ETF shares was suspended. However, it’s MUCH WORSE than the information in news release…
  • It’s a revolution: German banks told to start hoarding cash
    German newspaper Der Spiegel reported yesterday that the Bavarian Banking Association has recommended that its member banks start stockpiling PHYSICAL CASH. Europe, of course, has been battling with negative interest rates for quite some time. What this means is that commercial banks are being charged interest for holding wholesale deposits at the European Central Bank. In order to generate artificial economic growth, the ECB wants banks to make as many loans as possible, no matter how stupid or idiotic.
  • Oil rig count drops for 11th straight week
    The combined count of US oil and gas rigs is one shy of a record low. Data from driller Baker Hughes Friday showed that the oil rig count fell by 8 to 392 this week. It's the lowest count since the week of December 4, 2009. The tally of gas rigs fell 5 to 97, taking the total rig count down 13 to 489, one rig above the lowest level in about 70 years. The combined count of oil and gas rigs has plummeted in the last few weeks. Last week, the oil rig count fell by 13, while the gas count rose by one.
  • This chart shows the Bilderberg Group’s connection to everything in the world
    The Bilderberg Group is 120-140 powerful people who meet each year to discuss policy. The meetings are closed to the public. This graph we found on Facebook shows the members’ connections to a ton of corporations, charities, policy groups and media. Everyone from Eric Schmidt to George Soros is a member. There are tons of conspiracy theories about the group, including that they control the world economy. We took the findings with a grain of salt–after all, it’s easy to trace an individual to a corporation and the graph doesn’t specify what influence the member wielded. But perhaps it’s a compelling argument for why the meetings should be public.
  • Now the Swiss withdraw their bid to join the EU: Nation's parliament retracts 24-year-old bid to become a member amid deepening row about migration
    Switzerland's parliament has voted to withdraw its long-standing application for membership of the EU – amid a deepening row about migration. The country's National Council has backed a symbolic motion to retract the country's 24-year-old bid to join what was then the European Economic Community (EEC). Lukas Reimann from the Swiss People's Party (SVP) argued it was ‘high time' to make the move, as the country is battling with the European Commission about restricting free movement.
  • The Economic Collapse Of South America Is Well Underway
    The 7th largest economy on the entire planet is completely imploding.  I have written previously about the economic depression that is plaguing Brazil, but since my last article it has gotten much, much worse.  During 2015, Brazil’s economy shrank by 3.8 percent, but for the most recent quarter the decline was 5.89 percent on a year over year basis.  Unemployment is rising rapidly, the inflation rate is up over 10 percent, and Brazilian currency has lost 24 percent of its value compared to the U.S. dollar over the past 12 months.
  • ALERT: Andrew Maguire – Western Central Planners Have Finally Lost Control Of The Gold Market
    Today whistleblower and London metals trader Andrew Maguire told King World News that Western central planers have finally lost control of the gold market.
  • Fresh recession will cause eurozone collapse, warns Swiss bank
    A recession in Europe could lead to the collapse of the eurozone, as the single currency would buckle under the political turmoil unleashed by a fresh downturn, a leading investment bank has warned. In a research note titled “Close to the edge”, economists at Swiss bank Credit Suisse warned the fate of monetary union hangs in the balance if Europe's policymakers are unable to ward off another global slump and quell anti-euro populism. “The viability of the euro is contingent on the current recovery,” said Peter Foley at Credit Suisse.
  • The Trumpster Sends The GOP/Neocon Establishment To The Dumpster
    Wow. Super Tuesday was an earthquake, and not just because Donald Trump ran the tables. The best thing was the complete drubbing and humiliation that voters all over America handed to the little Napoleon from Florida, Marco Rubio. So doing, the voters began the process of ridding the nation of the GOP War Party and its neocon claque of rabid interventionists. They have held sway for nearly three decades in the Imperial City and the consequences have been deplorable.
  • 260,000 Austrians sign EU exit petition, forcing referendum debate in parliament
    Over 260,000 Austrians have signed a petition calling for the EU exit for the country, and now the Austrian parliament must discuss a referendum on the issue. Overall, the 261,159 people who signed the petition represent 4.12 percent of the electorate. The petition was most popular in the regions of Lower Austria (where 5.18 percent of potential voters signed it) and in Carinthia (4.85 percent). The threshold for calling a debate on a potential referendum is 100,000 people.
  • Jim Rogers Says 100% Probability US Is Heading for Recession; Data Backs Him Up
    Media and government officials keep telling us the economy looks great, but a peek behind the curtain tells a different story. Some people do see the writing on the wall. Peter Schiff has been saying the US may well have already entered a recession. Last month, Jim Grant echoed Peter, saying the US economy likely went into recession in December 2015.
  • Over 80% Of Jobs Added In January Were Minimum Wage Earners
    Jobs were good; earnings were a disaster – that's the best summary of today's jobs report. As we noted earlier, February suffered the biggest ever monthly drop in average weekly earnings, because not only did hourly earnings drop but so did hours worked, resulting in far lower overall weekly wages.
  • U.S. trade deficit widens as exports hit five-and-a-half-year low
    The U.S. trade deficit widened more than expected in January as a strong dollar and weak global demand helped to push exports to a more than five-and-a-half-year low, suggesting trade will continue to weigh on economic growth in the first quarter. The Commerce Department said on Friday the trade gap increased 2.2 percent to $45.7 billion. December's trade deficit was revised up to $44.7 billion from the previously reported $43.4 billion. Exports have declined for four straight months.
  • Big Pharma is Betting on This Presidential Candidate to Win. Donates Millions of Dollars
    In the past few years we have seen price hikes of pharmaceutical drugs — the most well-known incident is of the drug Daraprim, which jumped from $13.50 to $750 per pill after being purchased by the infamous entrepreneur and pharmaceutical executive Martin Shkreli. We have seen a dramatic increase of deaths caused by prescription drugs and learned that all new pharmaceuticals coming out have 1 in 5 chance of causing a serious adverse health reaction.
  • Barclays announces withdrawal from Africa
    Barclays, one of the UK’s main four banking groups, used the release of its 2015 results to announce that it will divest itself of its 62.3% stake in Barclays Africa over the next two to three years. The withdrawal from Africa is one of the first decisions taken by Jes Staley, who took over as chief executive (CEO) three months ago and will re-organise Barclays around two main divisions: UK retail banking and its corporate and investment bank.
  • It's Official: Canada Has Sold All Of Its Gold Reserves
    One month ago, when looking at the latest Canadian official international reserves, we noticed something strange: Canada had sold nearly half of its gold reserves in one month. According to the February data, total Canadian gold reserves stood at 1.7 tonnes. That was just 0.1 per cent of the country’s total reserves, which also include foreign currency deposits and bonds. As we noted, the decision to sell came from Finance Minister Bill Morneau’s office.
  • “It's A Recession Stupid” – US Factory Orders Tumble For 15th Month In A Row
    In 60 years, the US economy has not suffered a 15-month continuous YoY drop in Factory orders without being in recession. Today's -1.9% YoY drop may suggest the slide is decelerating, but off the weakness in December (-2.9% MoM), January's bounce +1.6% MoM missed expectations (+2.1%) notably (and Ex-Trans decline MoM). Recession…?
  • “No signs of recession” says agency that always fails to predict recession
    In the middle of a heated battle against my jetlag yesterday, I finally decided to exercise the nuclear option and turn on CNBC in order to stay awake. I figured someone would say something completely ridiculous, and it would get my blood boiling enough to power through the next couple of hours. Within minutes I saw a top economist for Moody’s (one of the largest rating agencies in the world) saying that there are absolutely zero signs of recession.
  • We just got the clearest sign yet that something is wrong with the US economy
    We just got the clearest sign yet that something is wrong with the US economy. Markit Economics' monthly flash services purchasing manager's index, a preliminary reading on the sector, fell into contraction for the first time in over two years. The tentative February index was reported Wednesday at 49.8. That's below 50, the border between expansion and contraction.
  • Power to the People – Owning Gold and Silver to Weather the Monetary Storm
    Perhaps you saw the recent article about home safes selling out in Japan. This is an unintended consequence of the Japanese central bank’s negative interest rate policy. People are starting to pull their paper cash out of the banks. They are withdrawing all they can and buying personal safes to horde currency at home. The reasoning is, of course, why leave your cash in the risky banking system when you get zero return from it sitting there? In truth, Japanese banks are slowly sucking their depositors’ wealth away – charging them for the right to lend them money.
  • Plunging Manufacturing Numbers Mean That It Is Time To Hit The Panic Button For The Global Economy
    We haven’t seen numbers like these since the last global recession.  I recently wrote about how global trade is imploding all over the planet, and the same thing is true when it comes to manufacturing.  We just learned that manufacturing in China has now been contracting for seven months in a row, and as you will see below, U.S. manufacturing is facing “its toughest period since the global financial crisis”.  Yes, global stocks have bounced back a bit after experiencing dramatic declines during January and the first part of February, and this is something that investors are very happy about.  But that does not mean that the crisis is over.  All bear markets have their ups and downs, and this one will not be any different.  Meanwhile, the cold, hard economic numbers that keep coming in are absolutely screaming that a new global recession is here.
  • By refusing US, India shows goodwill towards China: State media
    Chinese state media has praised India’s decision to refuse to patrol the South China Sea with the US. In the second commentary within a week on the proposed India-US joint patrol issue, an article in the state-run, Global Times said: “The New Delhi government pursues pragmatic diplomacy and strives to reach a balance between the US and China. Some interpret New Delhi’s refusal (to jointly patrol the SCS) as retaliation against Washington’s approval of weapon sales to Islamabad last year.”
  • New snooping laws will hand sweeping powers to EVERY police force to hack into phones and check web browser histories
    New spying laws creating sweeping powers for the police to access anyone's web browser history and break into their phones have been handed to MPs. A new draft of proposed laws was presented to Parliament this afternoon after three inquiries made scores of recommendations for changes and one blasted the original as rushed and flawed. Among the changes in the re-written bill are expanded powers to break into phones and computers if there is a ‘threat to life' and enhanced rules on allowing police and security service access to records about which websites – but not specific pages – have been accessed.
  • The Printing Press: A Great Way to Fool People – Peter Schiff’s Gold Videocast with Albert K Lu
    In his most recent Gold Videocast for SchiffGold, Albert K Lu interviewed John Rubino, founder of DollarCollapse.com. Rubino had a pretty compelling explanation for why there wasn’t a massive, sustained economic collapse a decade ago, and why he thinks it’s still lurking on the horizon. “The reason that we’re still here, when we really should have fallen apart based on how much debt there was out there, and various other measures of instability, is that a printing press has turned out to be a great tool for fooling people.”
  • Sports Authority Files for Bankruptcy and Plans to Eliminate 140 Stores
    The long-speculated bankruptcy of Sports Authority is official. In a statement posted to its website Wednesday, CEO Michael Foss said that the company decided to file for Chapter 11 bankruptcy as a way to implement a financial and operational restructuring that it sees as necessary to better appeal to customers. Foss said the sporting goods retailer has identified 140 stores to close or sell in the coming months. “This was a tough decision to make, but we believe it was a necessary step in our plan to make Sports Authority an even better partner for our customers,” he wrote.
  • World Trade Organization shutting down India's massive solar project is what's wrong with the world
    The Jawaharlal Nehru National Solar Mission was launched on the 11th January, 2010 by the Prime Minister of India.  The mission was to deploy 20,000 MW of grid-connected solar power by 2022 and reduce the cost of solar power generation in the country.  Once completed, the mission would have made the country a global leader in solar energy.
  • A French message to Britain: get out of Europe before you wreck it
    There is, between you and us continental Europeans, a disagreement which is turning ugly. Your immense history justifies a limitless admiration for you. You were the inventors of democracy and of human rights, you dominated the world for centuries, first ruling the oceans and after that the world of finance. And when apocalypse threatened, your courage and tenacity – you held on long, American and Russian help arriving late in the day – saved our honour and freedom.
  • Turkey could join the EU sooner after helping with the ‘disorderly' migrant crisis, says Merkel on visit to Istanbul
    Turkey could join the European Union earlier than expected after its help in dealing with the ‘disorderly' migrant crisis, Angela Merkel signalled today. The German Chancellor arrived in Istanbul for talks with Turkish Prime Minister Ahmet Davutoglu on how to stem the flow of people from conflict in the Middle East. But a Brussels plan to allow Turks access to EU visas – in exchange for their country's help with the Syrian migration crisis – has been branded as ‘bordering on insanity'.
  • Can Americans Handle Four More Years Of This?
    No child (or student, or poor person, or grandchild, or debtholder, or healthy person, or retiree, or African American, or family, or homeowner, or renter) left untouched… Now that is a legacy.
  • Alan Greenspan hasn't been optimistic about America in a long time
    Alan Greenspan is doesn't feel good about America. In an interview with Bloomberg TV's Tom Keene and Mike McKee on Tuesday, the former Federal Reserve chair laid out an uncertain and downbeat view of the US economy. McKee asked if Greenspan thought that financial markets were right by signaling trouble for the economy. “Yep,” said Greenspan. “We're in trouble basically because productivity is dead in the water.”
  • You'll have to work to 81 to have the same retirement as your parents
    Workers in some parts of the UK face working the best part of a decade longer than others to maintain their current living standards when they retire, according to a report. The findings raise the prospect of some people having to “work until they drop” to sustain their current lifestyles. An average earner who starts saving for a pension aged 22 and makes the minimum statutory contributions would need to work until the age of 77 to get the sort of “gold standard” pension enjoyed by many of their parents' generation, the research from Royal London found. But the worst off will need to keep doing the day job until they're into their 80s.
  • Here Comes Mandatory Gun Insurance (And A $10,000 Fine If You Don’t Buy It)
    Politicians nationwide have discovered a sneaky new way to discourage gun ownership: mandatory insurance. Laws that would force gun owners to purchase liability insurance have been proposed in three states and the city of Los Angeles, Insurance Business America reported. Under the proposals, gun owners who did not buy insurance would face fines up to $10,000. The laws also would require individuals to prove they have insurance prior to buying a firearm.
  • China Faces 15 Trillion Bombshell As Shadow Banking Sector Collapses
    We’ve spent more time than most documenting China’s wealth management product problem. WMPs are part and parcel of Beijing’s sprawling shadow banking complex which, until 2014 that is, helped pump trillions of yuan into China’s economy and shouldered the burden when it came to propping up the most important economy on the planet. But WMPs are dangerous. In fact, we flagged them as an 8 trillion black swan back in August on the way to asking what would happen if China’s shadow banking sector were to collapse altogether.
  • The Game Changed in Venezuela Last Night – and the International Media Is Asleep At the Switch
    Listen and understand. The game changed in Venezuela last night. What had been a slow-motion unravelling that had stretched out over many years went kinetic all of a sudden. What we have this morning is no longer the Venezuela story you thought you understood. Throughout last night, panicked people told their stories of state-sponsored paramilitaries on motorcycles roaming middle class neighborhoods, shooting at people and  storming into apartment buildings, shooting at anyone who seemed like he might be protesting.
  • BRICS Bank African center opens in March
    The BRICS New Development Bank (NDB) will open its Africa Regional Center in Johannesburg next month, South African Finance Minister Pravin Gordhan said on Wednesday. The BRICS Bank is looking at local funding solutions, such as tapping financial and capital markets in BRICS nations, NDB President Kundapur Vaman Kamath has said. South Africa’s first instalment of two billion rand (about $132 million) was paid in December last year, and the budget makes provision for South Africa’s further commitments over the medium term, Gordhan said in his 2016 budget speech in Parliament.
  • ‘Gold is the new black’ with best start to a year since 1980
    Banks and pundits are singing gold’s praises as it leaps in 2016. The chart on the articles page from The Economist says gold GCJ6 has gotten off to its best start to a year in 35 years. The safety play is up 15% in the year to date as of Friday, helped by haven demand amid dives by stocks, crude oil and other assets.
  • American Gold and Silver Eagle Sales Continue at Torrid Pace
    The demand for gold and silver bullion coins surged in the last half of 2015, and it has not abated so far this year, despite a rally in the price of both metals. Last year, demand was so strong the US Mint sold out of American Silver Eagles in July. Inventory was replenished in August, but the coins were on weekly allocations of roughly 1 million ounces for the rest of the year. The mint set a record for Silver Eagle sales in 2015, with the final total coming in at 47 million ounces.
  • They Can Already Hack the iPhone — FBI’s Public Display is Propaganda to Sell You the Police State
    The apparent battle between Apple and the FBI at least tells us that the post-Snowden privacy debate is still alive. The subject of the controversy is an iPhone belonging to one of the San Bernardino shooters, and the FBI did not choose this case randomly. If the surveillance state is to have any hope of gaining their vaunted “backdoor” into the electronic devices of everyone, then preying on the fear of terrorism has the biggest chance of success.

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Latest News Articles – March 3, 2016

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Lindsey Williams - Latest News Articles

Latest News From February 26, 2016 to March 4, 2016:

  • ALERT: Paul Craig Roberts Just Warned The Global Financial House Of Cards May Not Make It Through This Year
    Today former U.S. Treasury Secretary Dr. Paul Craig Roberts warned King World News that the financial house of cards may not make it through this year. Dr. Paul Craig Roberts:  “Today the Federal Reserve’s policy is focused on saving a handful of very large banks.  These are very huge conglomerates that financial deregulation allowed to become so concentrated that they are just massive institutions.  And the belief is that if one of them were to fail, the consequences would be that the entire financial system would fail…
  • Economic Recovery? 13 Of The Biggest Retailers In America Are Closing Down Stores
    Barack Obama recently stated that anyone that is claiming that America’s economy is in decline is “peddling fiction“.  Well, if the economy is in such great shape, why are major retailers shutting down hundreds of stores all over the country?  Last month, I wrote about the “retail apocalypse” that is sweeping the nation, but since then it has gotten even worse.  Closing stores has become the “hot new trend” in the retail world, and “space available” signs are going up in mall windows all over the United States.  Barack Obama can continue huffing and puffing about how well the middle class is doing all he wants, but the truth is that the cold, hard numbers that retailers are reporting tell an entirely different story.
  • House Republicans seek to open up national forests to mining and logging
    Congress is to consider two bills that would allow states to hand over vast tracts of federal land for mining, logging or other commercial activities – just weeks after the arrest of an armed militia that took over a wildlife refuge in Oregon in protest at federal oversight of public land. The legislation, which will be presented to the House committee on natural resources on Thursday, would loosen federal authority over parts of the 600m acres (240m hectares), nearly one-third of the land mass of the US, it administers.
  • With 269 Stores Closing, Is this the Beginning of the End for Walmart?
    All great empires eventually fall. This is as true in retail as it is in geopolitics. Often the descent into oblivion takes decades. A&P, which was once such a formidable market power that it was the subject of antitrust hearings in Congress, began to falter in the 1950s, some 80 years after cloning its first store. At the time, it was by far the largest grocer in the country. It would remain the industry leader for another quarter of a century, even as its stores seemed increasingly outdated and its corporate practices inexplicably unable to keep up. After several rounds of store closures in the 1970s and 1980s, and a bankruptcy filing in 2010, A&P finally threw in the towel for good just last year. By then, it was a two-bit player in the grocery business, its once continent-spanning empire now confined to the Northeast.
  • End of the British Army? EU plots ‘scandalous’ military merger if UK votes to stay in
    THE EU is to launch a £3 BILLION defence research and development programme with the ultimate aim of merging the continent's militaries into one gargantuan Euro army, Express.co.uk can exclusively reveal today. Brussels bureaucrats are railroading through contentious plans to vastly expand the European Union’s military scope which could ultimately end with the British army being subsumed into a vast continental force.
  • Finland Busts Key Refugee Myth: They Are Mostly Male and Not From Syria
    The head of Finland's Immigration Services asylum unit, Esko Repo, and communications chief Hanna Kautto told the Finnish news outlet Yle that out of the 19,632 refugees that have arrived in Finland this year, over 15 thousand are adult males. The number of female migrants totals 2,816 and there are also about 2,000 children travelling with adults as well as roughly one thousand unaccompanied minors. Furthermore, only 409 of the refugees came from Syria, with the majority of the migrants – nearly 14 thousand people – arriving from Iraq.
  • With twice the debt of California, Ontario is now the world’s most indebted sub-sovereign borrower
    Ontario, the world’s most indebted sub-sovereign borrower, is ploughing ahead with Canada’s most ambitious infrastructure plan — risking the censure of Standard & Poor’s and underperformance for its $307 billion of bonds. The nation’s most-populous province is keeping a goal of spending $130 billion over the next decade on work such as roads and mass transit in Toronto even after S&P dropped its credit grade this month to the lowest level ever. Yield spreads on some of the province’s debt reached the widest since January after the ratings move.
  • The Minimum Wage Killed 1 out of 11 Jobs on This Tropical Island
    Congress is considering potential responses to Puerto Rico’s depression and fiscal crisis. Fiscal conservatives are considering whether outside oversight by a “control board” would force feckless local legislators to make difficult choices, such as consolidating rural schools and laying off bureaucrats. However, if Congress gives the board authority only to cut government spending and raise taxes, it will be unable to clear out the failed policies that have choked growth in Puerto Rico.
  • An Escalating War on Cash
    On February 16th, The Washington Post printed the article, “It’s time to kill the $100 bill.” This came on the heels of a CNNMoney item, the day before, entitled “Death of the 500 euro bill getting closer.” The former cited a recent Harvard Kennedy School working paper, No. 52 by Senior Fellow Peter Sands, concluding that the abolition of high denomination notes would help deter “tax evasion, financial crime, terrorist finance and corruption.” In recent days, former Treasury Secretary Larry Summers, ECB President Mario Draghi, and even the editorial board of the New York Times, came out in support of the elimination of large currency notes. Apart from the question as to why these calls are being raised now with such frequency, the larger issue is whether these moves are actually needed or if they merely a subterfuge for more complex economic manipulations by central banks to extend control over private wealth.
  • China rules out weakening yuan to boost trade
    China's central bank chief promised Friday to avoid weakening its yuan to boost sagging exports as he tried to reassure nervous financial markets about his government's handling of its economy and currency at the start of a closely watched gathering of global finance officials. Beijing wanted to use the gathering of finance ministers and central bankers from the Group of 20 rich and developing countries to promote its campaign for a bigger voice in managing global trade and finance. Instead, the communist government is scrambling to defend its reputation for economic competence following stock market and currency turmoil.
  • BRICS NDB, Chinese Gov't Sign Agreement Setting Shanghai as Bank's HQ
    Kundapur Vaman Kamath and Shanghai Mayor Yang Xiong signed a memorandum of understanding with the municipality on the terms of the NDB’s accommodation. “We hope that with the support of the government of China and other BRICS countries, as well as the Shanghai government, the New Development Bank will soon become a new model of a multilateral development institution operating openly and with high efficiency,” Wang said at a press conference.
  • A revolt is growing as more people refuse to pay back student loans
    Remember those 15 people who refused to repay their federal student loans? Their “debt strike” has picked up 85 more disgruntled borrowers willing to jeopardize their financial future to pressure the government into forgiving their student loans. And the government is starting to listen. The Consumer Financial Protection Bureau has invited the group to Washington on Tuesday to discuss their demand for debt cancellation. Although the CFPB doesn’t have the power to grant that request, the agency’s overture shows that the strike is being taken seriously.
  • Russian-Japanese Ties Develop Despite Sanctions – Russian Trade Minister
    Russia’s economic relations with Japan are expanding despite anti-Russia sanctions, Russian Industry and Trade Minister Denis Manturov said in an interview with Japanese media Saturday. “The situation is changing, but to interrupt dialogue in foreign trade and economic cooperation is impossible. Even under sanctions the Russian-Japanese relations are developing,” Manturov told the Yomiuri Shimbun daily.
  • Apple’s lawyer: If we lose, it will lead to a ‘police state’
    Apple’s attorney painted a scary picture if Apple loses its fight with the FBI. In an interview with CNNMoney’s Laurie Segall on Friday, Ted Olson warned of a government with “limitless” powers that could “listen to your conversations.” Olson said the demands would mount.
  • Paul Craig Roberts Warns Of Massive Social Instability And Nuclear War
    Today former U.S. Treasury Secretary Dr. Paul Craig Roberts spoke with King World News about massive social instability and nuclear war. Dr. Paul Craig Roberts:  “The U.S. has this drive for world hegemony, but they are confronted with Russia and China, and on a regional basis, Iran and Syria.  So the U.S. can’t exercise this hegemony because these countries are in the way…
  • Chicago PMI Collapses From ‘Mysterious' January Bounce As Employment Crashes To 7 Year Lows
    Following the biggest beat on record in January jumping to 55.6, Chicago PMI collapsed in February to a stunning 47.6 – below the lowest estimate from economists. The entire report is a disaster with New orders tumbling, production sharply lower, and employment contracting for the 5th month in a row – to its lowest since March 2009. As one respondent warned, business was just “limping along at the moment with little promise in sight.” From one-year high “HOPE” to near 7 year low “NOPE”…
  • Pending home sales fell 2.5 pct in January
    The winter wallop may have chilled housing activity in some parts of the country, but overheated home prices are really what are slowing sales nationwide. Home buyers signed 2.5 percent fewer contracts in January to buy existing homes compared to December. The expectation had been for a slight gain. The so-called pending home sales index from the National Association of Realtors, an indicator of future closed sales, is now just 1.4 percent higher than it was in January of 2015. Pending sales have been higher annually for 17 straight months, but this is the second smallest gain in that time.
  • Another financial crash is ‘certain’, former Bank of England governor warns
    We’re still crawling out from the dark days of 2008’s crash, hoping the global economy has somehow repaired itself. Unfortunately, the former Bank of England governor Mervyn King says it hasn’t – and it’s not a case of if the next one happens, but when. Lord King, who led the bank between 2003 and 2013, had a grim warning for global leaders unless they reformed the system, saying another financial crisis is ‘certain’ and will come ‘sooner rather than later’. He said the reason for the global crisis eight years ago was the system itself, and not greedy bankers.
  • Mainstream Waking Up to Reality; Now Saying “Buy Gold”
    Just a few months ago, mainstream analysts were calling gold a “barbaric relic.” Now all of a sudden, they are saying, “Buy gold!” Last Friday, Deutsche Bank issued a note asserting that with emerging economic risks and market turmoil, signs point in gold’s favor: “There are rising stresses in the global financial system…Buying some gold as ‘insurance’ is warranted.”
  • “There’s never been a change this big, nor so many people unprepared.”
    I had an amazing time this weekend sharing the stage at an investment conference in Miami, with other speakers like Robert Kiyosaki, Peter Schiff, and G. Edward Griffin among others. During a panel on the future of money and banking we discussed how the financial system is rapidly losing control of its own product, i.e. money, in the same way that the music industry has lost control of its product. In the past there used to be a handful of large record labels that controlled the distribution of music across the world. In the same way, our financial system was set up for a handful of banks to tightly control the distribution of money across the world to the point that no financial transaction could occur without a bank inserting itself in the middle.
  • Welcome To The Third World, Part 17: Was Middle-Class Retirement Just A Credit Bubble Fantasy?
    One of the jarring — and until recently underreported — aspects of those seemingly-positive recent US jobs reports is the increasing skew towards older workers. Most new jobs have gone to people who in better times would be leaving to live off their savings. Now they’re coming back, frequently taking jobs they wouldn’t consider if money wasn’t so tight.
  • Fed's Dudley sees risks to U.S. economic outlook tilting to downside
    An influential Federal Reserve official on Tuesday said he sees downside risks to his U.S. economic outlook, an assessment that could flag a longer pause before the Fed's next interest-rate hike than he and his colleagues had earlier signaled. “At this moment, I judge that the balance of risks to my growth and inflation outlooks may be starting to tilt slightly to the downside,” New York Federal Reserve President William Dudley said in remarks at a conference in Hangzhou, China sponsored by the People's Bank of China and the New York Fed.
  • Nomi Prins Just Issued A Major Warning
    By Nomi Prins, Keynote Speaker at the recent IMF, World Bank, Fed Conference. February 25 (King World News) – Throughout last year, I predicted the Federal Reserve wouldn’t raise rates by September and that it was unlikely to do anything to seriously rock the rate boat at all. That turned out to be accurate…

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Latest News Articles – February 25, 2016

From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.

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Lindsey Williams - Latest News Articles

Latest News From February 19, 2016 to February 25, 2016:

  • Pope Francis Appoints Population Control Extremist to Vatican Post
    A scientist who believes the world is overpopulated by 6 billion people has been appointed by Pope Francis to the Pontifical Academy of Science. The Holy See Press office made the announcement today that besides being one of four official presenters of the Pope’s controversial encyclical on the environment Thursday in Vatican City, Hans Joachim Schellnhuber is to join 80 other scientists who are official advisers to the Vatican on scientific matters.
  • Cramer: Fed blind to recession signs everywhere
    Everywhere Jim Cramer goes, people ask him if the U.S. is headed into a recession. And then he hears other whispers, saying that the Fed feels the need to raise rates and maybe it will happen in March. “When you look beyond the market's tight linkage to the price of oil, the idea that we could be headed into a recession has become a powerful theme, a whispered undercurrent in this environment that surfaces whenever oil takes a dive,” the “Mad Money” host said.
  • 1 in 4 Americans on verge of financial ruin
    The rich keep getting richer. The rest of us aren’t so lucky. According to a survey released Tuesday by Bankrate.com of more than 1,000 adults, nearly one in four Americans have credit card debt that exceeds their emergency fund or savings. And that’s partially because many people, in addition to their debt, don’t have a dime in their emergency fund at all: another Bankrate survey released earlier this year found that 29% of Americans have no emergency savings at all.
  • Riyadh on the Brink: US Must Prepare for Collapse of its Mideast ‘Lynchpin'
    The United States must start thinking of ways to mitigate the damage from the approaching collapse of the current Saudi Arabian monarchy. A codependence between the Kingdom of Saudi Arabia and the US has existed for decades. A scheme in which oil from the Saudis was exchanged for US military might worked well for both. It worked so well, in fact, that the US turned a blind eye to consistent human rights violations in the kingdom, as well as the spread of Wahhabi religious extremism.
  • Jim Rogers Warns “Governments Plan Is To Destroy The People Who Save”
    “Everybody should be worried.. and be prepared,” warns legendary investor Jim Rogers, as he sees the market “facing a bigger collapse than in 2008,” and the central banks will be unable to kick the can much longer. “This is the first time in recorded history where you have Central Banks & governments setting out to destroy the people who save & invest,” Rogers exclaims and “the markets are telling us that something is wrong – we're getting close.”
  • And Now We Have A Services Recession: Markit Services PMI Crashes Into Contraction
    Following this week's ongoing demise of the US manufacturing sector, tumbling to its weakest since October 2012, Markit US Services PMI collapsed into contraction at 49.8, massively below expectations of 53.5. This is the weakest level for the last pillar standing in the US recovery since the government shutdown in 2013, and as Markit even admits, “slumping business confidence and an increased downturn in order book backlogs suggest there’s worse to come.”
  • Fed's Lacker says still logical to expect rate hikes this year
    Ongoing strength in the U.S. job market could give the Federal Reserve justification for multiple interest rate increases this year, Richmond Fed President Jeffrey Lacker said on Wednesday. Nearly two months of falling global equity prices and mounting concerns over a global economic slowdown have fostered doubts that the U.S. central bank will raise rates anytime soon. “I still think prospects for rate increases this year is the logical” view, Lacker said in a presentation to a business school in Baltimore, adding that economic data did not indicate that a recession was imminent in the United States.
  • New home sales fall sharply to 494K – USD extends falls
    Sales of new homes fell 9.2% in January to 494K, much worse than predicted and very different to yesterday’s report about existing home sales. New home sales in the US were expected to rise 4.4% to 544K. Also the average home sale price is down: $278K against $292K beforehand.
  • Dire Conditions Are Now Spreading Across The Globe
    With stocks still struggling and gold surging nearly $30 at one point in today’s trading session, dire conditions are now spreading across the globe.
  • Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People
    In the video in the link above, President Obama gives one of the most disingenuous speeches he has ever given. Either the man is a pathological liar, or in the alternate universe where he lives, there really is an economic recovery, and unicorns really do run free! Neither of those things helps any of the now 100 million Americans living in REALITY who are not currently working. While all the sane people in our weary nation are bracing for a global economic reset, Obama is flat out “peddling fiction,” as he put it during his State of the Union speech. There is no other way to say it. Period. It’s unconscionable that Obama is STILL out in front of the cameras taking credit for a recovery when 1/3 of our entire nation’s POPULATION is out of work. Listen to him spew his garbage!
  • UK downgrading of human rights sets dangerous precedent, says Amnesty
    Britain is setting a dangerous precedent by undermining human rights and contributing to a worldwide “culture of impunity”, Amnesty International has said in its annual report on the state of human rights. Plans to scrap the Human Rights Act, the UK’s absence from EU refugee resettlement schemes, proposed new spying laws and the alleged downgrading of human rights as a Foreign Office priority in favour of commercial deals are all cited by the group as evidence of a trend.
  • China Is Making a Major Play for American Farms and Farmland
    The American farmer is revered in our culture. He—the mythical American farmer is invariably a man—is in many ways a professional embodiment of values, such as individualism and hard work, that are considered part of the national identity. With their backbreaking work, farmers settled the growing West through the 1862 Homestead Act. It’s not a stretch to say that farmers, riding the wave of manifest destiny, built the United States. Today, they continue to feed it.
  • The Syrian Ceasefire Has Revealed Russia's Superpower Status
    Yesterday’s evening news in Russia was dominated by one story: the announcement by Vladimir Putin on national television that the United and Russia had concluded an agreement to facilitate the start and supervise the implementation of a ceasefire in Syria between government and opposition forces, set to begin on 27 February. The agreement was sealed by a telephone conversation between Vladimir Putin and Barack Obama that took place shortly before the broadcast. Putin’s televised address was less than 10 minutes long and it has been rebroadcast in entirety on state television at hourly intervals. Understandably, it has been the number one topic in the Russian print media this morning.
  • Don't Show This Chart To Experian: Subprime Auto Delinquencies Hit Highest Level Since 2010
    For those unfamiliar, Melinda is Experian’s senior director of automotive finance and she’s never, ever worried. Or at least not that she lets on. “We're not seeing anything that would be a red flag,” she said earlier this month in response to data that showed the percentage of auto loans made to buyers with the poorest credit ratings is growing faster than the rest of the auto finance market.
  • The Addict Needs More Drug; Is Permanent Quantitative Easing in Our Future?
    Central bankers want you to think they have all the answers. They talk about their policy “tool kits” as if they can just reach in and find the proper solution for any possible economic scenario. But if you peer behind the curtain, it becomes apparent they may not really know what they’re doing after all. In fact, with a recession looming on the horizon, there are some signs of desperation among economic central planners.
  • Consumer confidence falls to seven-month low
    Consumers confidence fell in February to the lowest level in seven months, as American became a bit more pessimistic about business conditions. Turmoil in stock markets probably also increased anxiety. The consumer confidence index dropped to 92.2 from a revised 97.8 in January, the Conference Board said Tuesday. Economists polled by MarketWatch had projected the index to fall to 96.9.
  • Richmond Fed Slides Back Into Contraction As New Orders Collapse
    With the biggest drop in New Orders since September, Richmond Fed Manufacturing survey dropped to -4 (missing expectations of +2), hovering at its weakest in over 3 years. Across the board the components were weaker with order backlogs and shipments plunging, average workweek and wages dropping, and capacity utilization worst since October. Prices (paid and received) dropped notably as future expectations for wages, workweek, and employees all fell.
  • Venezuela Exported 36t Of Its Official Gold Reserves To Switzerland In January
    Remarkably, after Venezuela repatriated 160 tonnes in official gold reservesfrom 25 November 2011 until 30 January 2012, it started to slowly export this gold to the world’s largest gold trading and refining hub, Switzerland, in 2015. How much unencumbered official gold reserves Venezuela has left is unknown.
  • Safes Sell Out In Japan, 1,000 Franc Note Demand Soars As NIRP Triggers Cash Hoarding
    Negative rates may not have found their way to bank deposits in most locales (yet), but that doesn’t mean the public isn’t starting to see the writing on the wall. At first, NIRP was an anomaly. An obscure policy tool that most analysts and market watchers assumed would be implemented on a temporary basis in a kind of “let’s see if this is even possible” experiment with an idea that, from a common sense perspective, makes no sense.
  • Four US States Officially in Recession; Data Points to Broader Problems
    With four states officially in recession, and economic data continuing to point toward a broader downturn, it’s getting increasingly difficult for officials to sell the illusion of a strong US economy. Peter Schiff has been saying for weeks that the US may already be in a recession. Recently, Jim Grant appeared on CNBC’s Closing Bell and echoed Peter’s sentiments, saying the US likely went into recession in late December. And while officials at the Federal Reserve keep insisting the US economy remains strong, some mainstream analysts have started sounding recession warning bells as well. In fact, the number of mainstream economists predicting a recession within the next 12 months continues to rise.
  • Major blow for Brexit campaign as US rules out UK-only trade deal
    The United States has ruled out a separate trade deal with UK if it leaves the European Union, in a major blow to Brexit campaigners. President Obama’s most senior trade official said that America is “not in the market” for a free trade deal with Britain alone, and warned British firms could face crippling Chinese-style tariffs outside the EU.
  • PMI Plunges – The Last Time US Manufacturing Was This Weak, Bernanke Hinted At QE3
    On the heels of weakness in the rest of the world's PMIs, US Manufacturing just printed 51.0 (missing expectations of 52.4) and tumbling to its lowest since October 2012… followed rapidly by Bernanke hinting at QE3. While Markit does ‘blame the extreme weather', it notes however that “every indicator from the flash PMI survey, from output, order books and exports to employment, inventories and prices, is flashing a warning light about the health of the manufacturing economy.”
  • An Alarm Goes Off Threatening The “Strong U.S. Jobs” Myth: Withheld Income Taxes Are Stalling
    Of all the indicators that the Fed has presented to justify its rate hike mentality and to validate that the US economy remains on a growth path despite clear recessionary signals from both the manufacturing sector and the dramatic tightening in financial conditions in recent months, Yellen's preferred metric also happens to be the most lagging one: nonfarm payrolls and the unemployment rate, both of which supposedly signal the collapsing slack in the labor market and a jump in wages that has been “just around the corner” for years.
  • Paul Craig Roberts – The Frightening Truth About What Is Really Happening In The United States
    With continued uncertainty in global markets, today former U.S. Treasury official Dr. Paul Craig Roberts covers the frightening truth about what is really happening in the United States.
  • You Are Here
    It's definitely different this time… The 2008 analog lines the current trajectory up with August 2008 right after Treasury Secretary Paulson told the world reassuringly that: “Our economy has got very strong long-term fundamentals. And you know, your policy-makers and regulators here – we're very vigilant.” And we all know what happened next…
  • Oil rig count collapses for 9th straight week
    The US oil rig count tumbled 26 to 413 this week, according to driller Baker Hughes. It's the lowest level since December 2009. The total count of oil and gas rigs fell 27 to 514, as only one gas rig was shut down. Last week, the oil rig count fell by 28, while the combined count of oil and gas rigs dropped 30. This was the third straight week of a sizeable drop in the rig count, each by at least 26. It's the biggest three-week drop in a year.
  • Higgins says unaccountable forces are running EU
    Unaccountable forces removed from democratic control are today in control in the European Union, President Michael D Higgins has declared in one of the most pointed speeches of his term in office.
  • Marc Faber Just Accused Central Banks Of Halting The Decline In Global Stock Markets
    On the heels of the recent rally in world stock markets, today legendary Marc Faber spoke with King World News and just accused central banks of halting the decline in global stock markets. Marc Faber:  “I believe that stock markets around the world will end the year lower, but it will depend on how much money the central bankers will print.  You don’t know how far these mad professors will go.  They can launch QE4 with $500 billion a month, and in theory they could buy the whole stock market…
  • Global leaders must act now as fresh downturn looms, warns OECD
    Global leaders must take “urgent” action to stop the world becoming stuck in a low-growth trap, according to the Organisation for Economic Co-operation and Development. The OECD slashed its growth forecasts across the board on Thursday as it urged policymakers to deploy a “full set of tools” to prevent another slowdown. Higher investment, loose monetary policy and structural reforms would all be needed to boost the recovery and ward off the financial stability risks “plaguing” the economy, it said. The OECD slashed its growth forecasts for all major economies apart from China, which the think-tank said was also facing challenges.
  • Pope Francis Rips Capitalism, American Immigration Policy at Mexican Border
    Pope Francis, apparently desperate to reach out to the Catholic Church’s growing base in Latin America, spent the day slapping Americans in the face from across the US-Mexico border. In Ciudad Juarez, one of the most violent cities in the Western Hemisphere thanks to the drug cartels, the pope walked up a ramp covered in flowers toward a cross “erected… in memory of migrants who have perished trying to reach the United States just a stone’s throw away,” according to Reuters.

ELITE PLANS FOR 2016 – Take Immediate Action! – A New DVD From Pastor Lindsey Williams. Who will be the next president of the U.S.? Why no financial collapse in 2015? Hear from someone in contact with the Elite. Political Correctness. Five firearms every American should own. Is war inevitable? ORDER NOW online for shipment now. Or call Prophecy Club Toll-Free 1-888-799-6111.

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