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Keyword: goldbugs

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  • Official: Treasury Removes Andrew Jackson From $20 Bill, Will Replace Him With Harriet Tubman

    04/20/2016 11:49:32 AM PDT · by SeekAndFind · 130 replies
    Zero Hedge ^ | 04/20/2016 | Tyler Durden
    Presenting an artist's impression of what your new $20 bill will soon look like. It's official.Moments ago Politico reported that the U.S. Treasury will announce that it plans to replace former President Andrew Jackson on the $20 bill with Harriet Tubman, the sources said. There will also be changes to the $5 bill to depict civil rights era leaders.Not every dead president is being scraped however: treasury Secretary Jack Lew on Wednesday will announce a decision to keep Alexander Hamilton on the front of the $10 bill and put leaders of the movement to give women the right to vote...
  • Kyle Bass On The Resurgence Of Gold And The Looming "Run On Cash"

    04/17/2016 7:46:42 AM PDT · by dennisw · 11 replies
    .zerohedge. ^ | 04/16/2016 | Tyler Durden
    Central Banks China Federal Reserve Hayman Capital Kyle Bass Kyle Bass Lehman Monetary Policy Reality Recession Yuan Hayman Capital founder Kyle Bass sat down recently for a conversation with Maria Bartiromo and Gary Kaminsky on Wall Street Week. He covered a variety of topics such as NIRP, income inequality, and the U.S. presidential race. As our regular readers know, Kyle correctly predicted the housing crisis, and is now calling for the yuan to be dramatically devalued. On the growing use of negative interest rates as a central bank policy tool, he pointed out that while the central planners have their...
  • Central banks are already doing the unthinkable - you just don't know it

    03/20/2016 5:22:29 PM PDT · by Lorianne · 14 replies
    Telegraph (UK) ^ | 19 March 2016 | Mehreen Khan
    The lords of finance are losing their touch. Institutions which dragged the world from its worst depression since the early 20th century are finally seeing their magic desert them, if conventional wisdom is to be believed. Eight years on the from the Great Recession, voices as authoritative as the International Monetary Fund and the Bank of International Settlements - dubbed the 'central bank of central banks' - have called time on the era of extraordinary monetary policy. Having hoovered up $12.3 trillion (£8.5 trillion) in financial assets and carried out 637 interest rate cuts since 2008, central banks have been stunned...
  • It's Official: Canada Has Sold All Of Its Gold Reserves

    03/03/2016 10:29:50 AM PST · by blam · 56 replies
    Zero Hedge ^ | Tyler Durden
    Tyler Durden March 3, 2016One 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 countrys total reserves, which also include foreign currency deposits and bonds. As we noted, the decision to sell came from Finance Minister Bill Morneaus office. Canadas gold reserves belong to the Government of Canada, and are held under the name of the Minister of Finance, explained a...
  • Gold ETF Market Breaks: BlackRock Suspends ETF Issuance Due To "Surging Demand For Gold"

    03/04/2016 7:29:51 AM PST · by amorphous · 3 replies
    Zero Hedge ^ | 4 Mar 2016 | Tyler Durden
    BlackRock's Gold ETF (IAU) has seen fund inflows every day in 2016 (no outflows at all) and with the stock trading above its NAV for most of the year, the world's largest asset manager has made a significant decision: *BLACKROCK SAYS ISSUANCE OF GOLD TRUST SHARES SUSPENDED *BLACKROCK SAYS SUSPENSION DUE TO DEMAND FOR GOLD ... It appears the huge demand for physical gold (and lack of supply) is finally catching up with the manipulation of paper prices. If this is anything other than a brief technical suspension, it could well unleash panic-buying as we already pointed out - there...
  • Why Trump and Cruz Aren't Forbes or Cain

    12/22/2015 10:45:26 AM PST · by 2ndDivisionVet · 19 replies
    Bloomberg View | December 22, 2015 | Albert R. Hunt
    Link only: http://www.bloombergview.com/articles/2015-12-22/why-trump-and-cruz-aren-t-forbes-or-cain
  • 21 New Numbers That Show That The Global Economy Is Absolutely Imploding

    02/21/2016 11:36:51 AM PST · by SeekAndFind · 18 replies
    TEC ^ | 02/21 | Michael Snyder
    After a series of stunning declines through the month of January and the first half of February, global financial markets seem to have found a patch of relative stability at least for the moment. But that does not mean that the crisis is over. On the contrary, all of the hard economic numbers that are coming in from around the world tell us that the global economy is coming apart at the seams. This is especially true when you look at global trade numbers. The amount of stuff that is being bought, sold and shipped around the planet is falling...
  • The Recession Isn’t a Few Months Away ... It's Already Started

    02/21/2016 11:29:14 AM PST · by SeekAndFind · 35 replies
    Economy and Markets Daily ^ | 02/21/2016 | Harry Dent
    So the S&P 500 is out of correction for now and the coast is clear. NOT! This is exactly what we've been predicting would happen – after reaching new lows, stocks would have to bounce before they inevitably resume their longer-term trend, which is down. But stocks haven't been the only victims of late. Just a couple weeks ago the January nonfarm payroll report came in at 151,000 jobs. So much for the expected 190,000! And of the ones reported, they were mostly low-wage jobs. Pile that on top of the disappointing Christmas and retail sales in December. Not to...
  • There will be another crisis. It’s just a question of when

    02/17/2016 3:51:40 AM PST · by expat_panama · 17 replies
    The Telegraph ^ | 16 Feb 2016 | Ben Wright
    Financial bubbles are inevitable and their pathologies virtually identical. The only variable is timing. This is why financial crises appear so obvious in hindsight yet remain frustratingly difficult to predict... ...Markets are, Harding argues, human constructs. As such, they are prey to every human foible. His comprehensive chronicle of speculative mania and panics was meant to hammer home the point... ...Such financial crises tend to occur every two to three years on average, according to Danske Bank, which helpfully points out that the last one, the European sovereign debt crisis, ended more than three years ago. The pattern is always...
  • Why So Many Historians Agree With Ted Cruz On Gold

    02/09/2016 11:40:04 AM PST · by GodGunsGuts · 82 replies
    Forbes ^ | February 9, 2016 | Nathan Lewis
    Echoing the recent sentiments of Steve Forbes, this week Republican presidential contender Ted Cruz told a group in New Hampshire: "Money is ... a unit of measurement. So, the reason why we see these rapid oscillations in commodities markets, it's because of unstable currencies. And it's why I think we should look at going toward rules-based money supply, ideally tied to gold, so you have stability." Perhaps this will trigger another flood of disagreement in the mainstream press, such as the recent New York Times item which reported that 40 out of 40 "leading economists" said that a gold standard...
  • Hold on Ex-Im nomination keeps cronyism crimped

    02/09/2016 4:29:56 AM PST · by Cincinatus' Wife · 1 replies
    The Hill ^ | February 9, 2015 | Diane Katz
    The president has nominated attorney J. Mark McWatters for the bank board. However, Sen. Richard Shelby (R-Ala.), chairman of the Committee on Banking, Housing and Urban Affairs, has said he's "in no hurry" to hold a hearing or a vote on the nomination. Other pending confirmations take precedence, he said.The last of the 2015 lobbying reports are in, and the top corporate spender turns out to have been the Boeing Company, at $21.9 million. Not coincidentally, the aerospace giant also outranks thousands of other firms in profiting from the subsidies doled out by the Export-Import Bank. Last year, Boeing benefitted...
  • Greece Now Operating With Two Currencies

    01/17/2016 12:19:49 AM PST · by SunkenCiv · 12 replies
    Irish Examiner ^ | Friday, January 15, 2016 | Yanis Varoufakis
    Greece today (and Cyprus before it) offers a case study of how capital controls bifurcate a currency and distort business incentives... Once euro deposits are imprisoned within a national banking system, the currency essentially splits in two: Bank euros (BE) and paper, or free, euros (FE). Suddenly, an informal exchange rate between the two currencies emerges. Consider a Greek depositor keen to convert a large sum of BE into FE (say, to pay for medical expenses abroad, or to repay a company debt to a non-Greek entity). Assuming such depositors find FE holders willing to purchase their BE, a substantial...
  • Ignore Hillary's Health, America, and Watch Your Freedom Go Down the Garbage Disposal

    01/09/2016 7:05:23 PM PST · by CharlesOConnell · 15 replies
    Freep | 1/9/2016 | Charles O'Connell
    America, if you don't stop all this obsession with Bubba's pee-pee and start focusing your short attention span onto Hillary's HEALTH and the question of who will be her Vice-presidential pick--you know, the person who will really rule you for eight more years?--then you've been dead so long, you don't even stink anymore. Franklin Delano Roosevelt's physical weakness due to polio was stifled in the press, but it was well know to the domestic ruling class and to hostile world leaders. Stalin was well aware of FDR's physical weakness, and whether or not Stalin used it to manipulate FDR, hundreds...
  • The History of "Gold" Is Really The History Of The Gold/Silver Complex

    12/30/2015 4:02:25 AM PST · by expat_panama · 46 replies
    Forbes ^ | Dec 26, 2015 | Nathan Lewis
    Sometimes, funny-money promoters like to dangle the idea that the "gold standard," in U.S. or world history, was a short-lived episode dating from about 1870 to 1914, a period of only forty-four years. I take a rather different viewpoint, that gold (and its adjunct, silver) was the primary basis of monetary affairs around the world for millennia, stretching up to 1971. When we look at the history of monetary arrangements, we find that gold and silver were usually used together, in what I sometimes call the "gold/silver complex." The reality was that silver and gold traded in a tight band...
  • Ted Cruz’s ‘Big Problem’ (Gold Standard)

    12/26/2015 12:25:25 PM PST · by Isara · 33 replies
    New York Sun ^ | December 26, 2015 | Editorial of The New York Sun
    ...So what is Mr. Cruz's "one big problem"? It turns out to be that he's for honest money, ideally a dollar defined in terms of gold. That is, he's got the same problem that dogged those notorious losers like, to name but a few, Geo. Washington, John Adams, Thos. Jefferson, Andrew Jackson, Grover Cleveland, Wm. McKinley, Thos. Woodrow Wilson, Franklin Roosevelt, Dwight Eisenhower, John Kennedy, and Ronald Reagan.This is a bizarre argument that puts the Huffington Post - the dispatch is by its senior political economy reporter, Zach Carter - in the company of, say, Richard Nixon. It was Nixon...
  • IMF PREDICTS SAUDI ARABIA BANKRUPT BY 2020

    10/22/2015 1:51:03 PM PDT · by C19fan · 37 replies
    Breitbart ^ | October 22, 2015 | Chriss W. Street
    The IMF just confirmed Breitbart News October 5 warning that Saudi Arabias cash reserves are in free-fall, with a new estimate that the worlds richest kingdom may be bankrupt by 2020. Each October, the International Monetary Exchange issues its World Economic and Financial Regional Surveys. For the first time since the 1960s, the region set to suffer the worst financial agony over the next five years is the Middle East. Ground Zero for that pain is Saudi Arabia.
  • Experts think jobs on Wall Street will take a plunge in 2016

    12/13/2015 9:56:03 AM PST · by SeekAndFind · 5 replies
    New York Post ^ | 12/12/2015 | By John Aidan Byrne
    There's a pall over the financial markets this holiday season, and it has little to do with the shortage of daylight this time of year. The lifeblood of the street -- bonuses -- will be cut, and if you survive, there's no guarantee of a better 2016. That's because Wall Street is bracing for merciless job losses that could total 100,000 in the US alone by June. By this estimate, Wall Street head count in New York City -- some 170,000 today -- could shrink by as much as 17,000, with the downsizing hitting everyone from million-dollar backers to middle-class...
  • Stocks are more overvalued now than at 2000 and 2007 peaks

    12/13/2015 9:51:40 AM PST · by SeekAndFind · 13 replies
    MarketWatch ^ | 12/12/2015 | Mark Hulbert
    The stock market currently is even more overvalued than it was at the bull market peaks of both March 2000 and October 2007 -- according to not just one, but two, valuation measures. That at least is the message of an analysis released earlier this week by Ned Davis Research, the quantitative research firm. What caught my eye in the firm's analysis was that, unlike virtually all others that conclude that stocks are overvalued, this one was not based on the so-called Shiller P/E -- the cyclically-adjusted P/E ratio championed by Nobel laureate Robert Shiller of Yale University. That's noteworthy,...
  • Why Blockchain is Still a Decade from Mainstream

    12/12/2015 3:27:36 AM PST · by Another Post-American · 2 replies
    CoinDesk ^ | 12/12/15 | Chris Skinner
    hris Skinner is a banking and technology and technology veteran who serves as the chairman of the Financial Services Club, a group created in 2004 to address the future of companies that serve financial markets. I’m often asked how quickly the changes I outline will take place, and my answer is between 10 and 20 years. The building of the real-time, almost free financial network on the Internet using blockchain and mobile will take about a decade at least before it becomes mainstream. "Oh," some go. "That's a way off. Can we talk about something happening sooner?" That's an interesting...
  • Will Next Week Be The Start Of The Crash Of The US Dollar?

    11/29/2015 5:11:54 PM PST · by Rockitz · 38 replies
    ZeroHedge.com ^ | 29 November 2015 | SecularInvestor
    The year 2015 is coming to an end and we’ve seen a lot this year. Not only did we see a much stronger dollar, the gold price also weakened despite the dire economic situation in, well, everywhere in the world, terrorist attacks and additional tensions between a NATO member and Russia. Additionally, the Federal Reserve seems to be on track to increase the interest rate before the end of this year. In fact, as you can see on the next chart, gold has now almost reached a 6 year low, but two important indicators are indicating the yellow metal might...
  • Gold prices plummet to 6-year low

    11/28/2015 11:20:36 AM PST · by BenLurkin · 64 replies
    upi ^ | Nov. 28, 2015 at 1:55 PM | marilynn malara
    Due to what industry analysts say is a strengthening U.S. dollar, an expected rate hike from the Federal Reserve and an apparent Chinese stock market slump, the precious metal's prices temporarily fell to a longtime low of $1,051 an ounce. The commodity's price closed at $1,055.90 on the New York Mercantile Friday, CNN reports. The price indicates gold's decline in popularity since reaching its highest price of $1,890 in 2011.
  • Doubters question 'strange' stock market rebound

    11/06/2015 11:05:02 AM PST · by SkyPilot · 20 replies
    Reuters and Yahoo News ^ | 6 Nov 15 | Alistair Smout and Danilo Masoni
    The double-digit stock-market rebound after a bruising summer has put European shares back into positive territory for the year, but sentiment around the central-bank-fueled rally remains fragile. Weak trading volumes, a so-far disappointing earnings season and a focus on reliable dividend payouts rather than blockbuster growth have all contributed to the view that investors are being sucked into a market updraft rather than enthusiastically betting on a cyclical upturn. Even with European shares getting a fresh lift from a weaker euro on Friday - after U.S. data smashed expectations and fueled bets on tighter U.S. rate policy in contrast with...
  • Steve Forbes: Ted Cruz's Golden Rule

    11/04/2015 12:22:09 PM PST · by Isara · 29 replies
    Forbes ^ | Nov 4, 2015 | Steve Forbes
    LOST AMID all the fireworks in that CNBC debate of the GOP presidential candidates was the answer Texas Senator Ted Cruz gave to a question about the Federal Reserve, advocating that the dollar be tied to gold. Other than Ron Paul, who has long been a gold-standard advocate, and his senator son, Rand, no other presidential candidate has pushed serious monetary reform since yours truly ran 16 years ago. This is stunning, given the immense damage our central bank has inflicted on the U.S. and the global economy. In fact, few economists, politicians or pundits are even aware of the...
  • The smartest economist you've never heard of

    10/04/2015 2:13:49 PM PDT · by SunkenCiv · 10 replies
    Washington Post ^ | Saturday, October 3, 2015 | Steven Pearlstein
    When David Lipton, a promising economist, was finishing his graduate work at Harvard in the early 1980s, he faced one of those potentially life-changing choices. He had one job offer from the International Monetary Fund in Washington, the multinational institution that for 70 years has served as a lender of last resort and dispenser of orthodox economic advice to countries that get into financial trouble. There was also an offer of a teaching job from the University of Virginia. Unsure of which path to take, he turned for advice to an intellectually restless and charismatic assistant professor, a Frenchman named...
  • Dying Petrodollar Ripples Through Markets As Asset Managers Bemoan Loss Of Saudi Bid

    09/29/2015 11:25:20 PM PDT · by RC one · 4 replies
    Dying Petrodollar Ripples Through Markets As Asset Managers Bemoan Loss Of Saudi BidOne of the key things to understand about Chinas liquidation of hundreds of billions in US paper is that far from being a country-specific phenomenon, it actually marks the continuation of something thats been taking place in other emerging markets for some time.As we outlined in Why It Really All Comes Down To The Death Of The Petrodollar, the forced sale of Beijings UST reserves is simply the most dramatic example of what Deutsche Bank has called quantitative tightening. For years, reserve managers in the worlds emerging economies...
  • Sovereign Debts: How Defaults May Unfold

    09/18/2015 10:14:48 AM PDT · by dontreadthis · 16 replies
    armstrong economics ^ | September 18, 2015 | Martin Armstrong
    In the Middle East, the banks are trying to convince the Gulf States to begin issuing debt even if there is no need to borrow, simply so they have a market to trade. Governments should never listen to bankers for this always becomes a conflict of interest with respect to national debts. The sooner government wakes up to the Sovereign Debt Crisis, the soon their particular country will be saved. When you say we are entering a Sovereign Debt Crisis, people automatically assume that debt will just default. Governments NEVER like to admit a mistake, so an outright default may...
  • Crossing Borders with Gold and Silver Coins - a Glimpse of Things to Come

    09/13/2015 8:46:23 AM PDT · by Rockitz · 50 replies
    Internationalman.com ^ | September 2015 | Doug Casey
    Its well-known that you have to make a declaration if you physically transport $10,000 or more in cash or monetary instruments in or out of the US, or almost any other country; governments collude on these things, often informally. Gold has always been in something of a twilight zone in that regard. Its no longer officially considered money. So its usually regarded as just a commodity, like copper, lead, or zinc, for these purposes. The one-ounce Canadian Maple Leaf and US Eagle both say theyre worth $50 of currency. But Ive recently had some disturbing experiences crossing borders with coins....
  • The Central Bankers Malodorous War On Savers

    08/28/2015 8:23:19 AM PDT · by PGR88 · 10 replies
    David Stockman's Contra Corner ^ | August 28, 2015 | David Stockman
    To wit, artificial suppression of free market interest rates by the central bank is designed to cause households to borrow more money than they otherwise would in order to spend more than they earn, pure and simple. Its nothing more than a modernized version of the original, crude Keynesian pump-priming theoryexcept it dispenses with the inconvenience of getting politicians to approve spending increases and tax cuts in favor of the writ of a small posse of unelected monetary mandarins who run the FOMC and peg money market interest rates at will. But the whole enterprise is a crock. The consumer...
  • This 2 Day Stock Market Crash Was Larger Than Any 1 Day Stock Market Crash In U.S. History

    08/23/2015 12:02:51 AM PDT · by Enlightened1 · 59 replies
    The Economic Collapse ^ | 08/21/15 | Michael Snyder
    This 888 point crash comes in the 8th month of our calendar We witnessed something truly historic happen on Friday. The Dow Jones Industrial Average plummeted 530 points, and that followed a 358 point crash on Thursday. When you add those two days together, the total two day stock market crash that we just witnessed comes to a grand total of 888 points, which is larger than any one day stock market crash in U.S. history. It is also interesting to note that this 888 point crash comes in the 8th month of our calendar. Perhaps that is just a...
  • Sinking currencies point to jitters about emerging economies

    08/22/2015 11:50:18 PM PDT · by Rabin · 3 replies
    myway ^ | Aug 21, 3:18 PM (ET) | PAUL WISEMAN and JOSHUA GOODMAN
    In "emerging markets" worldwide, currencies are falling because "emerging markets" are on the verge of a fall. Hyped until recently, "emerging markets" are now designated casualties of slower growth in "emerging market". Investors worry that the "emerging markets" monster China currency manipulation will surpass the "us lobby" capacity to buy off politically correct response. Many "economists" are confident that the U.S. economy can continue to be milked just like Europe's economy. Even so, the trouble in (non China) "emerging markets" is surprising and unsettling. "It's remarkable Three years ago Lima, was chosen to host an International Monetary Fund's meeting of...
  • Seven dead, 300 hurt as huge blast hits China's Tianjin: reports

    08/12/2015 3:21:56 PM PDT · by Perdogg · 53 replies
    A massive explosion at a warehouse in the northern Chinese port city of Tianjin killed seven people and sent a fireball ripping through the sky, state media reported Thursday. The blast, which could be felt kilometres (miles) away, was triggered when a shipment of explosives detonated in the container where it was being stored, according to the official Xinhua news agency.
  • This Isn't The Time To Ditch Commodities

    08/16/2015 8:44:53 AM PDT · by blam · 10 replies
    BI - The Alliance Bernstein Blog ^ | 8-16-2015 | Michelle Dunstan and Henry S. D'Auria
    Michelle Dunstan and Henry S. D'Auria August. 16, 2015 Commodities havent been kind to investors in recent years. But we believe that shifting the frame of reference away from underlying price trends of metals and raw materials can reveal surprising opportunities in select commodity stocks. The MSCI ACWI Commodity Producers Index has declined by 28% from the beginning of 2013 to the end of July 2015. Nonenergy commodities have fared even worsethe MSCI World Metals and Mining Index has dropped nearly 50% over the same period. Prices have plummeted because of concerns about slowing Chinese demand, coupled with continued supply...
  • Gold Jumps After China Reveals It Bought Another 19 Tons In July

    08/14/2015 6:28:06 AM PDT · by SeekAndFind · 11 replies
    Zero Hedge ^ | 08/14/2015 | Tyler Durden
    One month ago, when everyone suspected that the PBOC's dramatic, 57% jump in gold holdings after a 6 year silence, to a "record" 1658 tons would be a "one-and-done" event, meant to facilitate China's admission into the SDR, we disagreed. This is what we said: ... now that the seal has been finally broken after so many years, and since today's update indicates that Chinese gold numbers are clearly goal-seeked with a specific policy purpose - to boost confidence - we await for the PBOC to start leaking incremental gold holding data every month (and especially in months when...
  • Chinese Devaluation Extends To 3rd Day - Yuan Hits 4 Year Low, Japan Escalates Currency Race

    08/12/2015 9:03:30 PM PDT · by tcrlaf · 32 replies
    Zerohedge ^ | 8-12-2015 | Durden
    The "one-off" adjustment has now reached its 3rd day as The PBOC has now devalued the Yuan fix by 4.65% back to July 2011 lows. The PBOC seeks to reassure... -CHINA PBOC SAYS YUAN REMAINS STRONG CURRENCY IN LONG-TERM -PBOC SAYS THERE IS DEMAND FOR DEVALUATION OF YUAN VS USD -PBOC CHANGE OF YUAN MECHANISM RELATED TO JULY CREDIT: ZHANG -PBOC SAYS YUAN CHANGE IS BENEFICIAL TO LONG TERM STABILITY -PBOC SAYS YUAN EXCHANGE RATE ADJUSTMENT ALMOST COMPLETED *YUAN RATE ADJUSTMENT POSITIVE TO CONFIDENCE IN YUAN: PBOC'S YI *NEW YUAN MECHANISM `POSITIVE' TO INTERNATIONALIZATION: PBOC YI *PBOC SAYS NO BASIS...
  • Letter to Editor PREDICTED COLORADO EPA SPILL So EPA Could Secure Superfund Status

    08/12/2015 6:44:52 AM PDT · by Hojczyk · 90 replies
    Gateway Pundit ^ | August 12, 2015 | Jim Hoft
    Last Wednesday, a small EPA-supervised work crew inspecting the Gold King mine accidentally knocked a hole in a waste pit, releasing at least three million gallons of acidic liquid laden with toxic heavy metals. (ABC) This letter to editor, posted below, was published in The Silverton Standard and The Miner local newspaper, authored by a retired geologist, one week before EPA mine spill. The letter detailed verbatim, how EPA officials would foul up the Animas River on purpose in order to secure superfund money. It the Gold King mine was declared a superfund site it would essentially kill future development...
  • EPA Employees Load Obama, Dems With Dough

    08/12/2015 8:54:53 AM PDT · by Hojczyk · 16 replies
    The Daily Caller ^ | August 11, 2015 | KATHRYN WATSON
    Environmental Protection Agency employees are supposed to work in a non-partisan way but that hasnt kept them from donating more than a quarter of a million dollars to Democrats in recent elections, a Daily News Caller Foundation analysis has found. Data compiled by OpenSecrets.org shows that in the 2012 and 2014 election cycles, contributors who listed EPA as their employer gave 90 percent, or $331,174, of their total federal campaign donations to Democrats, and just nine percent, or $32,891, to Republicans. Those numbers may actually understate the number of EPA employees making political contributions because the analysis doesnt include those...
  • China Is Hiding 9,500 Tons Of Gold

    08/07/2015 5:26:04 AM PDT · by blam · 15 replies
    BI - Money Week ^ | 8-7-2015 | Dominic Frisby
    Dominic Frisby, MoneyWeek August 7, 2015 How much gold does China have? The question wont go away, because the answer is vital. The answer could define, in no uncertain terms, how important or irrelevant gold is in the modern world. Is gold obsolete, or does it still have a significant role to play?Today we consider that question, and look once again at Chinas gold... Gold useless shiny pet rock or the very essence of money? Some people argue that gold is just an inert, useless metal, good for little more than jewellery. Its role in finance is as obsolete...
  • India Rising? Modis Landmark Tax Bill Will Likely Pass, Says Eurasia

    07/24/2015 11:07:39 AM PDT · by entropy12
    Barron's Asia Edition ^ | 23-7-15 | Shuli Ren
    Chinas loss is Indias gain. International investors are pulling out of China and plowed $705 million into India since June 12, sending the Sensex Index 7% higher. But does India have any near-term catalysts? The buzz on Narendra Modis landmark reform Goods & Taxes Bill is back. An important panel in the Upper House of the parliament, which Modis political party does not have majority in, already approved the GST bill. Now Modi just needs to get this bill passed in the Upper House. But worryingly, the monsoon session of the parliament, which opened on Tuesday and will end on...
  • Forget gold, the sugar price collapse is far more dramatic [deflation, not debasing]

    07/22/2015 4:13:03 AM PDT · by expat_panama · 32 replies
    UK Telegraph ^ | 21 Jul 2015 | John Ficenec
    Things are not so sweet for the sugar market. Prices have been tumbling and reached a six-year low on Monday on news that Brazil's cane growers are in for a bumper harvest. But while gold made the headlines, the dramatic fall in the sugar price was widely overlooked, despite closing down 4.4pc, compared with a 2.3pc slump in the price of bullion. Over the past year alone, sugar prices have fallen by a quarter. So why has everything turned sour? Bumper Harvest Monday's sharp price drop was driven by signs that Brazil, the world's biggest producer of sugar, is on...
  • Fifty Years of Debasing Money

    07/21/2015 10:13:21 PM PDT · by george76 · 42 replies
    WSJ ^ | July 21, 2015 | Seth Lipsky
    The Coinage Act of 1965 marked the end of silver coins, contrary to what LBJ promised. July 23 marks the 50th anniversary of the Coinage Act of 1965, which stripped U.S. coins of silver and made legal tender out of base metal slugs. Its an anniversary that comes at an apt time, as Congress considers monetary reform. ... The anniversary of the 1965 Coinage Act is a reminder of why reform is needed. Speaking from the White House Rose Garden, President Lyndon B. Johnson called the law he signed a very rare and historic occasion. It certainly was; it superseded...
  • Gold prices plunge to five-year low

    07/20/2015 8:08:32 AM PDT · by Citizen Zed · 7 replies
    cnn money ^ | 7-20-2015
    Gold plunged to its lowest level in five years on Monday, triggered by heavy selling overnight and signs Chinese demand may be weaker than expected. Prices plunged by as much as $40 an ounce in minutes when Asian markets began trading around 9.30 pm ET on Sunday, before stabilizing in European trade. By 9.15 am ET, the metal was down about 2% at $1,110, having dived below $1,100 -- a level not seen since 2010.
  • U.S. debt headed toward Greek levels [Psalms 9:17]

    07/01/2015 9:11:48 AM PDT · by Jan_Sobieski · 10 replies
    Washington Examiner ^ | 6/30/2015 | Jason Russell
    United States' projected debt over the next 25 years looks a lot like Greece's over the past 25. With all the chaos unravelling in Greece, Congress would be wise to do what it takes to avoid reaching Greek debt levels. But it's not a matter of sticking to the status quo and avoiding bad decisions that would put the budget on a Greek-like path, because the budget is on that path already. A quarter-century ago, Greek debt levels were roughly 75 percent of Greece's economy about equal to what the U.S. has now. As of 2014, Greek debt...
  • Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable"

    06/13/2015 2:12:39 PM PDT · by Rockitz · 78 replies
    ZeroHedge.com ^ | 13 Jun 2015 | Tyler Durden
    The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now - as we noted was possible previously - Texas has enacted a Bill to repatriate $1 billion of gold from The NY Fed's vaults to a newly established state gold bullion depository..."People have this image of Texas as big and powerful so for a lot of people, this is exactly where they would want to go with their gold," and the Bill includes a section to prevent forced seizure from the Federal Government. From 2011: "The University of Texas Investment Management...
  • Avi Gilburt doubles down: Gold is going to $25,000

    06/12/2015 5:09:07 PM PDT · by ForYourChildren · 33 replies
    MarketWatch ^ | June 12, 2015 | Avi Gilburt
    Last week I wrote a column on MarketWatch that seems to have stirred quite a bit of debate. Within the column, I was pointing to the potential for a multi-decade rally to be seen in the metals and mining stocks. It seems many of you had very strong feelings that this was simply not possible. Over the next few weeks, I will attempt to address the concerns many of you have presented in your comments to my piece.
  • This Is How You "Boost" GDP: US Sells Over $4 Billion In Weapons To Israel, Iran And Saudi Arabia

    05/22/2015 8:42:03 AM PDT · by SeekAndFind · 11 replies
    Zero Hedge ^ | 05/22/2015 | Tyler Durden
    War, what's it good for? Aside from countless deaths of innocent civilians of course, it means a GDP boost for the biggest exporter of weapons on earth, the United States, and even more profits for the US military-industrial complex. Profits which mean the shareholders of America's arms manufacturers get even richer. Which is why following months of middle-eastern sabre ratling and numerous quasi-wars already raging in the region, moments ago the U.S. State Department approved the sale of 10 MH-60R Seahawk helicopters to Saudi Arabia for $1.9 billion, the first step in "a major multibillion-dollar modernization of the Saudi...
  • China Retakes Top Spot as the Biggest Foreign Owner of U.S. Debt

    05/16/2015 7:45:29 PM PDT · by Steelfish · 6 replies
    Wall St. J ^ | May 16, 2015 | IAN TALLEY
    China Retakes Top Spot as the Biggest Foreign Owner of U.S. Debt By IAN TALLEY It was a short-lived domination. After just a month of being the top holder of U.S. Treasury debt, Japan has once again been pushed into the No.2 slot as China bulked up on Uncle Sams bonds and notes. As we noted last month and several times before that Treasurys data is a rough guesstimate. That makes it hard for analysts sifting through the obscure sheaves of digital data to glean anything but rough trends. It also makes it difficult to draw precise conclusions....
  • Futures Tumble As Yemen War Starts; Oil, Gold Surges

    03/26/2015 4:23:04 AM PDT · by sheikdetailfeather · 5 replies
    Zero Hedge ^ | 3-26-2015 | Tyler Durden
    In a somewhat surprising turn of events, this morning's futures reaction to last night's shocking start of a completely unexpected Yemen proxy war, which has seen an alliance of Gulf State launch an air, and soon land, war against Yemen's Houthi rebels, is what one would expect: down, and down big. This is surprising, because on previous occasions one would expect the NY Fed, or its pet hedge fund, Citadel, or the BOJ or ECB (via the CME's "Central Bank Incentive Program") to aggressively buy ES to prevent a slide, something has changed, and for the BTFDers, that something may...
  • Gold Price $250 Forecast - Dear Harry Dent: Wanna Bet?

    02/19/2015 2:43:10 PM PST · by blam · 56 replies
    TMO ^ | 2-19-2015 | Jeff Clark
    February 18, 2015 Jeff_Clark Some of you may be aware that investment guru Harry Dent has publicly stated that gold will fall to $250-$400. He specifically predicted: Around $700/ounce is a certainty in gold by 2015 to 2016, and $250 is a possibility well down the line by 20202023. His forecast is largely based on his belief that deflation will prevail. Governments are fighting deflation. If government stimulus fails, we will have deflation, not inflation. (snip) As a gold analyst whos spent every day of the last seven-plus years watching this market, I cant let this pass. Im sure gold...
  • A System Reset Is Imminent...

    02/08/2015 4:40:35 AM PST · by alexmark1917 · 15 replies
    This is not the first time the gold standard has been seen as the ultimate cure for Russias economic problems. In September 1998, the noted economist Jude Wanninski predicted in a far-sighted essay for The Wall Street Journal that only a gold ruble would get the the country out of its then-debt crises. It was upon taking office about two years later, in May 2000, that President Putin embarked upon the countrys massive gold-buying campaign. At the time, it took twenty-eight barrels of crude just to buy an ounce of gold. The gold-backed ruble policy of those years was adopted...
  • Chinese farmer finds 7.85kg gold nugget worth $250,000 on the ground

    A herdsman in Chinas remote far west has struck gold after stumbling upon a huge nugget of the precious metal estimated to be worth at least $250,000, state media reported Thursday. The 7.85 kilo chunk was discovered practically lying on bare ground, the official Xinhua news agency said, quoting the herder, an ethnic Kazakh named Berek Sawut. He found the golden lump, described in the report as random-shaped and about 23 centimetres long, 18 centimetres at its widest and up to eight centimetres thick. It was estimated to be worth 1.6m yuan ($255,000), Xinhua said, assuming it was 80 percent...